Technology Private Placement and M&A Transactions Review Week Ending March 10, 2024

Strategy | Financing Transactions
Private Placement / Financing Transactions

Perplexity: The company raised an estimated $56 million of Series B venture funding from undisclosed investors on March 6, 2024, putting the company’s pre-money valuation at $944 million. The company is a developer of an artificial intelligence-based search engine platform.

Baseten: The company raised $40 million of Series B venture funding in a deal led by IVP and Spark Capital on March 4, 2024, putting the company’s pre-money valuation at $180 million. South Park Commons, Greylock, Base Case Capital, and Lachy Groom also participated in the round. The company is a developer of machine learning models for business operations.

io.net: The company raised $30 million of Series A venture funding in a deal led by Hack VC on March 5, 2024. Solana Labs, OKX, Aptos Labs, Delphi Digital, 6th Man Ventures, Multicoin Capital, Moonhill Capital, Modular Capital, MH Ventures, Protagonist, Zephyrus Capital, The Sand Box, Web3.com Ventures and WAGMI Ventures (New York) also participated in the round. The company is a developer of a blockchain-based GPU cloud platform for machine learning applications.

Openprise: The company raised $25 million of Series B venture funding in a deal led by Morgan Stanley Expansion Capital on March 6, 2024, putting the company’s pre-money valuation at $80 million. The company is a developer of a cloud-based data automation platform.

Kevel: The company raised $23 million of Series C venture funding in a deal led by Fulcrum Equity Partners on March 7, 2024, putting the company’s pre-money valuation at $92.5 million. dunnhumby Ventures, Iberis Capital, Godwin Capital Group, Triangle Tweener Fund and Commerce Ventures also participated in the round. The company is a developer of ad-serving APIs designed to help developers build server-side ad platforms.

Betr Holdings: The company raised $15 million of venture funding in a deal led by Harmony Partners and 10X Capital on March 6, 2024, putting the company’s pre-money valuation at $360 million. Fuel Venture Capital, Roger Ehrenberg and Aliya Capital Partners also participated in the round. The company is a developer of a sports betting platform.

Metaplane: The company raised $13.8 million of Series A venture funding in a deal led by Felicis on March 5, 2024. Khosla Ventures, Flybridge Capital Partners, Stage 2 Capital, SNR, B37 Ventures and Y Combinator also participated in the round. The company is a developer of a machine learning data anomaly detection platform.

Aerwave: The company raised $11.1 million of venture funding through a combination of convertible debt and equity from undisclosed investors on March 6, 2024. The company is a developer of a wireless network platform.

Aisle: The company raised $7.8 million of venture funding from undisclosed investors on March 7, 2024. The company is a developer of a retail customer engagement tool designed to understand customers’ habits.

Entrada: The company raised an undisclosed amount of venture funding from Databricks Ventures on March 4, 2024. The company is a developer of a Databricks-focused consulting platform.

Strive Gaming: The company raised an undisclosed amount of venture funding in a deal led by OpenBet Technologies on March 6, 2024. NetEnt, Knutsson Holdings, Astralis Capital, and Betsson also participated in the round. The company is a developer of an iGaming technology platform designed to provide additional revenue and automation for North American gaming operators.
M&A Transactions

Arctic7 / Grom Social: The company reached a definitive agreement to be acquired by Grom Social on March 7, 2024. The company is an operator of a game development studio.BeOp / Collective Audience: The company reached a definitive agreement to be acquired by Collective Audience for an undisclosed amount on March 4, 2024. The company is a developer of an advertisement automation platform designed for the creation and distribution of content.

Blue Orchid / AdCellerant: The company was acquired by AdCellerant, via its financial sponsor Clearview Capital, through an LBO on March 4, 2024 for an undisclosed amount. The company is a developer of ad operations marketing software. and data-driven advertising intended for small and medium-sized businesses.

Easel TV / Accedo: The company was acquired by Accedo, via its financial sponsor SEB Private Equity, through an LBO on March 4, 2024 for an undisclosed amount. The company is a developer of multi-screen video software designed to connect multiple devices.

FaZe Clan / GameSquare Holdings: The company was acquired by GameSquare Holdings for an undisclosed amount on March 8, 2024. FaZe Holdings Inc is a digital-native lifestyle and media platform.

Gett / Pango Israel: The company reached a definitive agreement to be acquired by Pango Israel for an undisclosed amount on March 4, 2024. The company is a developer of a cloud-based software platform for corporate ground transportation management.

Kubefirst / Civo: The company, a subsidiary of Kubeshop was acquired by Civo for an undisclosed amount on March 5, 2024. The company is a developer of a cloud tools platform designed for delivering a set of cloud-native technologies for managing Kubernetes.

Nefeli Networks / Cloudflare: The company was acquired by Cloudflare for an undisclosed amount on March 6, 2024. The company is a provider of a unified network management layer for cloud infrastructure deployments.

ReachFive / Purse: The company was acquired by Purse for an undisclosed amount on March 5, 2024. The company is a developer of a customer identity management platform designed to collect first-party data, build unified customer profiles, and facilitate personalized marketing.

Romaric / CamLine: The company, a subsidiary of Meyer Burger (Germany) was acquired by CamLine, a subsidiary of Elisa, for an undisclosed amount on March 5, 2024. The company is a developer of Material Control Systems (MCS) for semiconductor, warehousing, e-Commerce and micro-fulfillment industries.

SidelineHD / Diamond Kinetics: The company was acquired by Diamond Kinetics for an undisclosed amount on March 7, 2024. The company is a developer of a live streaming platform designed for youth baseball and softball, along with automatic scoreboards.

Slync.io / Bluspark LLC: The company was acquired by Bluspark LLC for an undisclosed amount on March 6, 2024. The company is a developer of logistics operating software for international logistics networks.

TAMI Ventures / Creatd: The company was acquired by Creatd for an undisclosed amount on March 8, 2024. The company is an operator of technology platforms for social media, sports betting, fantasy sports, eSports, racing, virtuals, lotteries, and casino slots.

TripAdvisor / Apollo Global Management: The company has received bids to be acquired by Apollo Global Management through an LBO as of March 6, 2024 for an undisclosed amount. Tripadvisor is a leading travel metasearch company.

Vowel / Zapier: The company was acquired by Zapier for an undisclosed amount on March 6, 2024. The company is a developer of an AI powered meeting application designed to help clients record conversations that were made in business meetings.

Source: Pitchbook Data, Inc.

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