Katerra, a Silicon Valley provider of services to the construction industry, has raised $130 million in Series C funding led by Greenoaks Capital at a valuation north of $1 billion. Per a press release, the company says its model "combines technology, design, material sourcing, manufacturing, logistics and construction into a single integrated offering."

Investment thesis: The bet here is that the building construction supply chain isn't really all that different from the computer manufacturing supply chain. The common link is Katerra executive chairman Michael Marks, who faced similar supply chain skepticism in his early days of leading Flextronics. Marks also has spent time in private equity (KKR and Riverwood Equity) and as interim CEO of Tesla Motors.

Bottom line: "Although several companies compete with Katerra in different areas — Prescient builds frames and panels for developers in its own manufacturing plant while Rhumbix sells software to track construction costs — Marks said Katerra stands out for wanting to do everything. The risk, however, is that Katerra is taking on too many different tasks." ― Jonathan Vanian, Fortune

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Americans reflect on Independence Day amid racism reckoning

A Black Lives Matter banner and a United States flag on the facade of the U.S. embassy building in Seoul, South Korea. Photo: Simon Shin/SOPA Images/LightRocket via Getty Images

America's leaders are rethinking how they view Independence Day, as the country reckons with the historic, unequal treatment of people of color during a pandemic which has disproportionately affected nonwhite Americans.

Why it matters: The country’s legacy of racism has come into sharp focus in the weeks of protests following the death of George Floyd while in Minneapolis police custody. From Confederate statues to Mount Rushmore, Americans are reexamining the symbols and traditions they elevate and the history behind them.

Updated 10 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 11,031,905 — Total deaths: 523,777 — Total recoveries — 5,834,337Map.
  2. U.S.: Total confirmed cases as of 7 p.m. ET: 2,788,395 — Total deaths: 129,306 — Total recoveries: 790,404 — Total tested: 34,213,497Map.
  3. States: ICU beds in Arizona's hot spot reach near capacity.
  4. Public health: The states where face coverings are mandatory Fauci says it has been a "very disturbing week" for the spread of the coronavirus in the U.S.
  5. Economy: The economy may recover just quickly enough to kill political interest in more stimulus.
12 hours ago - Sports

Washington Redskins to review team name amid public pressure

Photo: Patrick McDermott/Getty Images

The Washington Redskins have announced they will be conducting a review of the team's name after mounting pressure from the public and corporate sponsors.

Why it matters: This review is the first formal step the Redskins are taking since the debate surrounding the name first began. It comes after weeks of discussions between the team and the NFL, the team said.