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

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Toast sets range for IPO at valuation around $16.5B

, a provider of software for restaurant payments processing and other functions, set a range of $30 to $33 per share for its upcoming initial public offering.

The Boston-based company, which previously raised over $900 million in private funding, is reportedly around $717 million in its offering at a public valuation of around $16.5 billion.

BitSight hits $2.4B after $250M raise

Boston-based cybersecurity company received a $250 million investment from , which will partner with the company to help customers identify cyber and financial risk.

As part of the deal, BitSight also acquired New York-based , a cyber risk ratings joint venture created by ²Ñ´Ç´Ç»å²â’s and .

Founded in 2011, BitSight helps customers understand cyber risk through ratings, analytics and management tools. The company has now raised more than $400 million to date, according to Crunchbase data.

— Chris Metinko

Formo lands $50M for lab-grown cheese

Berlin-based , an agtech startup developing animal-free dairy products using nature-identical milk proteins derived from precision fermentation, announced that is has closed a $50 million Series A funding round led by and .

Public offerings

Freshworks sets terms for $855M IPO: San Mateo, California-based , a provider of cloud-based customer support software, set a price range of $28 to $32 per share for its upcoming IPO. At the midpoint of that range, the company would reportedly have a around $9.6 billion and bring in $855 million through the offering.

— Joanna Glasner

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