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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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TCV raises $4B for late-stage investment

Venture and growth-stage investor that it has closed on $4 billion for its latest fund, TCV XI, its largest to date.

Founded in 1995, the Silicon Valley-headquartered firm has invested more than $14 billion in over 350 growth-stage technology companies to date.聽 Some of its most prominent portfolio company exits include , , , and .

Going forward, the firm identified key sectors of interest as SaaS, edtech, remote collaboration, fitness, media and entertainment, touchless commerce, and digital banking.

Why Everyone Is Talking About GameStop

Video game retailer 鈥檚 stock increased more than 140 percent after retail traders organized on the subreddit, or forum on the website , r/WallStreetBets to drive up the stock price. This means hedge funds that shorted the stock, notably Melvin Capital, were forced to cover their positions. Short selling entails investors betting that a company鈥檚 stock will go down by a certain date.

Short sellers pay a fee to borrow shares of a company and then sell them to other buyers. Retail traders essentially drove up the price of GameStop鈥檚 stock, making the hedge funds that shorted the stock cover their positions, which drove up the price even more.

GameStop was so hot that on Wednesday said it put restrictions on some transactions involving GameStop and , according to , as retail traders focus on some of Wall Street’s most-shorted stocks.

Funding rounds

• Booksy raises $70M: , an online platform for finding and booking beauty and wellness appointments, has in a Series C round led by .
• ShipMonk inks $65M for fulfillment: , a Fort Lauderdale-based provider of e-commerce fulfillment and technology tools, announced $65 million in growth equity from .
• TimelyMD brings $60M: , a Fort Worth-based telehealth provider on colleges and university campuses, received a $60 million investment from .
• Aspiration secures $50M for socially-conscious banking: Fintech platform raised $50 million from a group of investors led by .鈥檚 . The Marina Del Rey, California-based company offers retail banking and investing services that enable customers to spend and save their money in ways that protect the planet.
• Nuvalent taps into $50M for cancer treatments: , a Cambridge, Massachusetts-based biotechnology company raised a $50 million Series A financing from . The company is developing targeted therapies for clinically proven kinase targets in cancer.
• Sitetracker raises $42M: , a Palo Alto-based SaaS platform for deploying, operating and servicing critical infrastructure and technology, announced $42 million Series C funding led by new investor .
• Check launches with $35M: , a New York-based payroll infrastructure startup making the process of paying people simple, its public launch today with $35 million in Series B funding from and .
• Starship Technologies lands $17M: , a provider of autonomous delivery services, has raised $17 million in a new round with backers including and .
• Token banks $15M for digital payments: Open banking payments platform , with offices in London, San Francisco and Berlin, raised $15 million in Series B funding led by and .
• Vessel lands $8M to track wellness: , an at-home wellness tracker headquartered in San Diego, announced an $8 million funding round led by. The tracker provides a way to access, understand and optimize personal health and wellness.

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