School messaging app Remind (formerly Remind101) announced a $40 million Series C on Tuesday, bringing its total funding raised close to $60 million.
The round was a so called inside round with no new investors which can be interpreted in several ways. One option is that the startup has problems and investors need to inject more money to keep it afloat, another is that the startup aims for a higher valuation and needs more runway to achieve some milestones.
In Remind’s case the two main investors seem to be interested not to dilute their ownership by allowing others to chip in.
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