• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
NewslettersTerm Sheet

Sequoia Capital published 3 new survival guides for startups

Jessica Mathews
By
Jessica Mathews
Jessica Mathews
Senior Writer
Down Arrow Button Icon
Jessica Mathews
By
Jessica Mathews
Jessica Mathews
Senior Writer
Down Arrow Button Icon
June 15, 2022, 8:13 AM ET

Free cash flow. Reduce risk. Go FOF yourself.

This is the latest advice from Sequoia Capital, which yesterday released four slide decks it has presented to its portfolio companies in the last month, including one that Fortune published late last month.

There are a few common threads throughout the guidance—one of them being that this downturn could last somewhere around three years, and founders need to prepare for exactly that.

“During the Internet bubble, it took about three years before it felt like we were back to a reasonably normal funding environment,” reads one slide on how to FOF yourself, or “Fund Our Future.”

Sequoia has been known to issue ominous warnings ahead of severe recessions, including its infamous “R.I.P. Good Times” presentation during the 2008 financial crisis.

In its latest rendition, Sequoia published decks focused on adapting, forecasting and scenario planning, extending the runway of your business, and leading during uncertain times.

“It takes many quarters to gain credibility, and only 90 days to lose it,” reads a quote by Sequoia partner Carl Eschenbach, who has backed Zoom and Snowflake.

You can read through Sequoia’s full slide decks here.

Press pause… Because it can be tiring to write (and read) about layoffs, systemic risk, etc., here is a cute photo of my dog encouraging me as I got out yesterday’s newsletter. Remember to spend time with those you love, thank (and tip!) your servers, and tell people that they matter to you on a regular basis. And if you can help it, avoid looking at your 401(k) at all costs. That is not meant to be investment advice, but if it were, it’d be great advice.

Jessica Mathews—Fortune

See you tomorrow,

Jessica Mathews
Twitter: @jessicakmathews
Email: jessica.mathews@fortune.com
Submit a deal for the Term Sheet newsletter here.

Jackson Fordyce curated the deals section of today’s newsletter.

VENTURE DEALS

- Wonder Group, a New York-based at-home dining and food delivery company, raised $350 million in Series B funding. Bain Capital Ventures led the round and was joined by investors including Accel, Alpine Group, Amex Ventures, Forerunner, General Catalyst, GV, NEA, YieldStreet, and others.

- Invoca, a Santa Barbara, Calif.-based A.I.-powered conversation intelligence for revenue teams, raised $83 million in Series F funding. Silver Lake Waterman led the round and was joined by investors including Hollyport Capital, Kingfisher Investment Advisors, Fenwick & West, Upfront Ventures, Accel, H.I.G. Capital, and Industry Ventures. 

- Proximie, a London-based health technology platform digitally connecting operating rooms, raised $80 million in Series C funding. Advent Life Sciences led the round and was joined by investors including Emerson Collective, SoftBank Vision Fund 2, British Patient Capital, Mubadala Investment Company, the Minderoo Foundation, F-Prime Capital, Eight Roads, Questa Capital, Global Ventures, and Maverick Ventures. 

- Turntide Technologies, a Sunnyvale, Calif.-based electrification and sustainable operations technologies developer, raised $80 million in a funding round. OGCI Climate Investments, SDCL Energy Efficiency Income Trust, Fifth Wall and Meson Capital's Captain Planet LP fund invested in the round.  

- Performio, an Irvine, Calif.-based sales commission software solution provider, raised $75 million in a funding round led by JMI Equity.  

- Cirkul, a Tampa-based beverage platform, raised $70 million in Series C funding. SC Holdings led the round and was joined by investors including AF Ventures and Siddhi Capital.  

- Postscript, a remote-based SMS marketing company for Shopify businesses, raised $65 million in Series C funding. 01 Advisors led the round and was joined by investors including Twilio Ventures, Expanding Capital, m]x[v Capital, Greylock, Accomplice, Elephant, and OpenView. 

- ​​LiveView Technologies, an Orem, Utah-based surveillance camera systems provider, raised $50 million in Series B funding. Sorenson Capital, The Larry H. Miller Group, Lead Edge Capital, and Pelion Venture Partners invested in the round.  

- The Wildcard Alliance, the McKinney, Texas-based Web3 game franchise from Playful Studios, raised $46 million in Series A funding. Paradigm led the round and was joined by investors including Griffin Gaming Partners and Sabrina Hahn. 

- Proscia, a Philadelphia-based pathology software provider, raised $37 million in a funding round. Highline Capital Management, Triangle Peak Partners, Alpha Intelligence Capital, Scale Venture Partners, Hitachi Ventures, ROBO Global, Emerald Development Managers, and Razor's Edge Ventures invested in the round.  

- Distribusion, a Berlin-based B2B ground transportation marketplace, raised €30 million ($31.25 million) in funding. Lightrock led the round and was joined by investors including Creandum and Northzone.

- ALICE Technologies, a Menlo Park, Calif.-based construction simulation and optimization company, raised $30 million in funding. Vanedge Capital led the round and was joined by investors including Bouygues, Gaingels, GRID Capital, JLL Spark, MetaPlanet, Future Ventures, Merus Capital, and Rising Tide. 

- Sesame, a New York-based health care marketplace, raised $27 million in Series B funding. GV led the round and was joined by investors including Virgin Group, TeleSoft Partners, FMZ Ventures, General Catalyst, Industry Ventures, Coefficient Capital, Giant Ventures, and Alumni Ventures Group.

- Arkestro, a New York-based predictive procurement orchestration platform, raised $26 million in Series A funding. NEA, Construct, Koch Disruptive Technologies, and Four More Capital led the round and were joined by investors including Cervin, Correlation, El Cap, Forum, Illuminate, and Tenacity. 

- Platform9, a Mountain View, Calif.-based open distributed cloud company, raised $26 million in funding. Celesta Capital led the round and was joined by investors including Cota Capital, NGP Capital, and others. 

- KEO World, a Miami-based B2B buy now, pay later platform, raised $20 million in funding. Montreux Growth Partners led the round and was joined by investors including Mayberry Investments and Avior.

- Next Matter, a Berlin-based automation platform for operations, raised $16 million in Series A funding. OMERS Ventures led the round and was joined by investors including BlueYard Capital, Crane Venture Partners, and other angels. 

- Tabnine, a Tel Aviv-based A.I.-powered assistant for developers, raised an additional $15.5 million in a funding round. Qualcomm Ventures, OurCrowd, Samsung NEXT Ventures, Khosla Ventures, and Headline Ventures invested in the round. 

- ​​Greenstruxure, a Boston-based leading energy supply and services company, raised $15 million in funding from AXA IM Alts. 

- Tango, a Los Angeles-based workflow intelligence platform, raised $14 million in Series A funding. Tiger Global Management led the round and was joined by investors including Slack Fund, Atlassian Ventures, Wing VC, General Catalyst, GSV Ventures, Red Sea Ventures, and Outsiders Fund. 

- Chain.io, a Philadelphia-based cloud-based supply chain integration platform, raised $11 million in a Series A round. Fontinalis Partners and High Alpha co-led the round and were joined by investors including Mercury, Grand Ventures, Eve Atlas, and Waybury Capital. 

- AMILI, a Singapore-based gut health company, raised $10.5 million in Series A funding. Vulcan Capital led the round and was joined by investors including Pruksa Group, TVM Capital Healthcare, Emtek Group, Capital Code, Pureland Group, Blue7, SEEDS Capital, GK Goh, and others.

- NOWATCH, an Amsterdam-based health technology wearable company, raised $8.7 million in Series A funding. Angel investor Chris Hall led the round and was joined by Flow Ventures. 

- Prometheus, a Los Angeles-based investing insights platform for investors, family offices, and wealth advisors, raised $5 million in Pre-Series A funding. 8VC’s Joe Lonsdale led the round and was joined by other angels.

- Terra.do, a Stanford-based climate career platform, raised $5 million in seed funding led by Avaana Capital. 

- Spirea Limited, a Cambridge, U.K.-based antibody drug conjugate therapeutics developer, raised £2.4 million ($2.88 million) in a funding round. Jonathan Milner and Cambridge Enterprise co-led the round and were joined by investors including R42 Group, ACF Investors, o2h Ventures, Syndicate Room, and the Cambridge Angels. 

- Granular, a Paris-based clean energy market provider, raised €2 million ($2.1 million) in a pre-seed funding round. Seedcamp, Revent, and Powerhouse Ventures invested in the round. 

PRIVATE EQUITY

- Allied Industrial Partners acquired a majority stake in Waste Eliminator, a Gainesville, Ga.-based solid waste hauling, disposal, and recycling services provider for commercial and industrial waste generators. Financial terms were not disclosed. 

- Lido Advisors acquired Enterprise Trust & Investment Company, a Los Gatos, Calif.-based private trustee services and investment management provider. Financial terms were not disclosed.  

- The Riverside Company agreed to acquire a majority stake in Montel, an Oslo-based energy and electricity market information provider. Financial terms were not disclosed. 

- Serent Capital acquired a majority stake in BW Events, a Gilbert, Ariz.-based managed services and technology consulting solution for the events industry. Financial terms were not disclosed. 

OTHER

- ResMed acquired MEDIFOX DAN, a Hildesheim, Germany-based software solution provider for home health, nursing home, and outpatient therapy, for $1 billion.

- Lenovo Group agreed to acquire two units of investment holding firm PCCW, a Hong Kong-based telecommunications company, for $613.6 million.

- Blink Charging acquired SemaConnect, a Bowie, Md.-based EV charging infrastructure solutions provider, for $200 million.

- Bardavon Health Innovations acquired PeerWell, ​​a San Francisco-based musculoskeletal digital health platform. Financial terms were not disclosed.

IPOS

- Rohlik Group, a Prague-based online supermarket, plans to go public within the next three to five years. Index Ventures and Partech back the company. 

FUNDS + FUNDS OF FUNDS

- World Innovation Lab, a Palo Alto and Tokyo-based venture capital firm, raised over $1 billion for a fund that will be deployed across multiple funds. These funds focus on startups and corporations in the United States and Japan. 

- Glade Brook Capital Partners, a Greenwich, Conn.-based growth equity investment firm, raised $430 million for a third fund focused on internet, software, and fintech at the Series B and C stages.

PEOPLE

- Broad Sky Partners, a New York-based private equity firm, hired Amy Margolis as managing director and head of business development and promoted Heidi Vanhamme to managing director. Formerly, Margolis was with CI Capital Partners and The Riverside Company.

This is the web version of Term Sheet, a daily newsletter on the biggest deals and dealmakers. Sign up to get it delivered free to your inbox.

About the Author
Jessica Mathews
By Jessica MathewsSenior Writer
LinkedIn iconTwitter icon

Jessica Mathews is a senior writer for Fortune covering transportation, defense tech, and Elon Musk’s companies.

See full bioRight Arrow Button Icon

Latest in Newsletters

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Newsletters

Aerie built a brand based on ‘real.’ That’s at the heart of its ‘no AI’ promise
NewslettersMPW Daily
Aerie built a brand based on ‘real.’ That’s at the heart of its ‘no AI’ promise
By Emma HinchliffeMay 1, 2026
18 hours ago
The fruit fly cancer researcher who built his first prototype out of lollipop sticks and straws
NewslettersTerm Sheet
The fruit fly cancer researcher who built his first prototype out of lollipop sticks and straws
By Allie GarfinkleMay 1, 2026
23 hours ago
Apple CEO Tim Cook in Washington, D.C. on December 10, 2025. (Tom Williams/CQ-Roll Call/Getty Images)
NewslettersFortune Tech
Tim Cook’s advice for Apple’s next CEO
By Andrew NuscaMay 1, 2026
24 hours ago
Brian Niccol’s nascent Starbucks turnaround starts with treating workers better
NewslettersCEO Daily
Brian Niccol’s nascent Starbucks turnaround starts with treating workers better
By Phil WahbaMay 1, 2026
1 day ago
Meta's Hyperion data-center site in Northeastern Louisiana.
NewslettersEye on AI
Big Tech will spend nearly $700 billion on AI this year. No one knows where the buildout ends
By Sharon GoldmanApril 30, 2026
2 days ago
The Tory Burch Foundation is almost halfway to its $1 billion goal for women entrepreneurs
NewslettersMPW Daily
The Tory Burch Foundation is almost halfway to its $1 billion goal for women entrepreneurs
By Emma HinchliffeApril 30, 2026
2 days ago

Most Popular

Scott Bessent on financial literacy: 'it drives me crazy' to see young men in blue-collar construction jobs playing the lottery
Personal Finance
Scott Bessent on financial literacy: 'it drives me crazy' to see young men in blue-collar construction jobs playing the lottery
By Fatima Hussein and The Associated PressMay 1, 2026
21 hours ago
China dominates the world's lithium supply. The U.S. just found 328 years' worth in its own backyard
North America
China dominates the world's lithium supply. The U.S. just found 328 years' worth in its own backyard
By Jake AngeloApril 30, 2026
2 days ago
The U.S. economy is booming — just not where 50 million Americans live
Commentary
The U.S. economy is booming — just not where 50 million Americans live
By Derek KilmerMay 1, 2026
1 day ago
Current price of oil as of May 1, 2026
Personal Finance
Current price of oil as of May 1, 2026
By Joseph HostetlerMay 1, 2026
22 hours ago
Apple cofounder Ronald Wayne—whose stake would be worth up to $400 billion had he not sold it in 1976—says that at 91, he has no regrets
Success
Apple cofounder Ronald Wayne—whose stake would be worth up to $400 billion had he not sold it in 1976—says that at 91, he has no regrets
By Preston ForeApril 27, 2026
5 days ago
A Chick-fil-A worker got fired and then showed up behind the register to allegedly refund himself over $80,000 in mac and cheese
Law
A Chick-fil-A worker got fired and then showed up behind the register to allegedly refund himself over $80,000 in mac and cheese
By Catherina GioinoMay 1, 2026
17 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.