Toronto-based Clutch said its $50-million Series D funding round was led by Silicon Valley-based Altos Ventures, an early investor in Roblox. Industry Ventures and BMO Capital Partners joined the round as new investors, while existing investors Flight Deck Capital and FJ Labs also participated. Clutch, which lets customers buy and sell used cars, aims to hire 100 more workers. (The Logic)

Talking point: It’s an upswing for Clutch after a tough couple of years for fundraising. “The latter half of 2022 was rough, 2023 was terrible,” CEO Dan Park told The Logic in December, when asked about his outlook for startups. “I think we’re seeing investors starting to deploy capital again,” he said at the time. The round values Clutch at more than $575 million, bringing it back above its 2021 valuation after the steep downgrade to a $15-million pre-funding valuation in its 2023 round. The company said it has quadrupled its revenue over the past three years and turned a profit last year.