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Here’s what you need to know today in startup and venture news, updated by the ºÚÁÏ³Ô¹Ï News staff throughout the day to keep you in the know.

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SoFi to go public via SPAC

Online lender said Thursday it will enter the public markets through a , a special-purpose acquisition company led by billionaire .

The deal, expected to close in the first quarter, gives San Francisco-based SoFi a post-money valuation of $8.65 billion and is expected to provide up to $2.4 billion in cash proceeds, the company said in a written statement.

SoFi has raised $2.5 billion in funding since it was founded in 2011, according to ºÚÁÏ³Ô¹Ï data. Its most recent venture capital round was a in 2017 led by . In 2019, it raised another half-billion-dollar round of private equity led by . At that time, the company was valued at $4.8 billion post-money.

The company said it posted more than $200 million in total net revenue in the third quarter of 2020 and estimates a net revenue of about $1 billion in 2021, representing 60 percent year-over-year growth.

Shares of Social Capital Hedosophia Holdings Corp V are currently trading on the New York Stock Exchange under the symbol IPOE. Following the announcement Thursday, the share price rose 57 percent in late afternoon trading.

Roblox raises $520M in advance of direct listing

, the online game platform popular with kids and teens, that it has raised $520 million in new financing in advance of a planned public market debut.

and led the financing, which sets a valuation of $29.5 billion for the company.

San Mateo, California-based Roblox also that it plans to  go public via a direct listing of its common stock.

In a prior filing Roblox reported $588.7 million in revenue for the first nine months of 2020, up 68 percent from $349.9 million during the same period in 2019. Losses also widened, hitting $205.9 million in the first nine months of 2020, up from $46.3 million in the same period a year earlier.

Funding rounds

• Lacework lands $525M: , a provider of cloud security technology, that it has raised $525 million in a growth funding round led by and Altimeter Capital. (Read more).
• Resident bags $130M to expand brick-and-mortar retail: Direct-to-consumer home furnishings brand , the parent company of the Nectar and DreamCloud mattress brands, said it closed a $130 million investment led by and .
• AbsoluteCARE inks $105M for primary care: , a health care provider headquartered in Baltimore, received $105 million in funding from .
• Kira Pharmaceuticals brings in $53.5M for drug discovery program: , a biotechnology company headquartered in Massachusetts and China, announced the first closing of an oversubscribed $53.5 million Series B+ financing, co-led by and , that will go toward a drug discovery platform targeting immune-mediated therapies.
• Carrum Health raises $40M for digital health marketplace: , a San Francisco-based digital health company connecting employers and employees to centers of excellence for planned health care procedures, said it closed $40 million in Series A funding led by .
• Air Protein bites into $32M to launch alternative meat: , a Pleasanton, California-based startup producing meat made from elements of the air, announced a $32 million Series A round of fundraising led by , and .
• Hello Ralphie brings in $1M for veterinary telemedicine: New York-based startup announced a $1 million seed round led by and to develop its platform connecting pet owners with licensed veterinarians through chat and video appointments.

M&A

• Hopin buys StreamYard for $250 million: Virtual events platform that it has acquired , a provider of software for creating professional live streams, in a deal at around $250 million.

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