Technology Private Placement and M&A Transactions Review Week Ending September 29, 2024

Observe: The company raised $145 million of Series B venture funding in a deal led by Sutter Hill Ventures on September 26, 2024. Capital One Ventures, Snowflake Ventures, Evolution Equity Partners, Chestnut Street Ventures, Alumni Ventures and Madrona Venture Group also participated in the round. The company is a developer of an enterprise SaaS observability platform that helps businesses store, manage, and analyze their data.

Ambiq: The company raised $86 million of venture funding from undisclosed investors on September 26, 2024. The company is a manufacturer of electronic chips designed for the gaming, wearables, and IoT industries.

UJET: The company raised $76 million in Series D venture funding in a deal led by Sapphire Ventures on September 24, 2024, putting the company’s pre-money valuation at $424 million. GV, Citi Ventures, Ericsson Ventures, Keycorp, DCM Ventures, Kleiner Perkins and Ion Pacific also participated in the round. The company is a developer of a AI-powered Contact Center as a Service (CCaaS) & Workforce Management Management (WFM) platform.

Harmonic: The company raised $75 million of Series A venture funding in a deal led by Sequoia Capital on September 23, 2024, putting the company’s pre-money valuation at $250 million. GreatPoint Ventures, DST Global, Rainfall Ventures, Index Ventures, Nikesh Arora, Jared Leto, TIBAS Ventures, Blossom Capital and Era Funds also participated in the round. The company is a developer of a mathematical reasoning engine.

Smartcat: The company raised $43 million of Series C venture funding in a deal led by Left Lane Capital on September 24, 2024, putting the company’s pre-money valuation at $127.6 million. Zubr Capital, Lead Edge Capital, Chrome Capital, Marbruck Investments, Koro Capital and other undisclosed investors also participated in the round. The company is an operator of an AI-powered translation automation platform for global enterprises.

Gladly: The company raised $40 million of venture funding in a deal led by AXA Venture Partners on September 26, 2024. The company is a developer of a cloud-based customer service communication platform.

HyperLight: The company raised $37 million of Series B venture funding in a deal led by Summit Partners on September 23, 2024, putting the company’s pre-money valuation at $168 million. Foothill Ventures, Xora Innovation, and other undisclosed investors also participated in the round. The company is a developer of high-performance photonic ICs and photonics solutions.

3D Cloud: The company raised $20 million of venture funding in a deal led by Arnie Bellini on September 26, 2024. Bellini Capital (Florida) also participated in the round. The company is a developer of a 3D product experience platform that helps retailers and manufacturers create, manage, and publish 3D content for their products.

Distyl: The company raised $20 million of venture funding led by Coatue and Dell Technologies Capital with participation from Millennium Technology Value Partners and other undisclosed investors on September 24, 2024. The company is a developer of a generative AI-assisted workflow platform for enterprises .

Field Agent: The company raised an estimated $17.5 million of Series B venture funding in a deal led by Five Elms Capital on September 23, 2024, putting the company’s pre-money valuation at $36.5 million. The company is an operator of a B2B marketplace intended to provide on-demand enterprise products and real-time access to in-store conditions, and shopper insights.

DeepOpinion: The company raised EUR 11 million of Series A venture funding in a deal led by Red River West and Alpha Intelligence Capital on September 26, 2024. Lunar Ventures and Stride.VC also participated in the round. The company is a developer of a no-code intelligent automation SaaS platform for automating the processing of unstructured data from text and documents using AI on enterprise systems and applications.

Mawari: The company raised $10.8 million of venture funding in a deal led by Anfield Ltd, Borderless Capital and 1kx on September 26, 2024. Animoca Brands KK, Draper Dragon, iAngels, Samsung NEXT Ventures, Mulana Ventures, Parami Investors, Waldo Holdings, Blockchange Ventures, Accord Ventures, Pete Townsend, Ivan Brightly, Joshua Frankfurt and Sean Carey also participated in the round. The company is a developer of cloud rendering and streaming technology designed for augmented reality experiences.

Superb AI: The company raised KRW 13.5 billion of Series C venture funding in a deal led by Doosan Investment on September 26, 2024. KT Investment, Premier Partners, Kakao Investment, Samsung NEXT Ventures, Hyundai Motors Group and other undisclosed investors also participated in the round. The company is a developer of a machine learning operations platform intended for streamlining the training of data-centric AI systems.

The Looma Project: The company raised $10 million of venture funding from YETI Capital and other undisclosed investors on September 26, 2024. The company is an operator of an in-store digital media platform intended to use screens to humanize the shopping experience.

Kleecks: The company raised EUR 6.5 million of venture funding from Axon Partners Group, Blacksheep Ventures, and Azimut Holding on September 25, 2024. The company is a developer of an enterprise SaaS platform that optimises performance marketing activities, and improves website health and speed in real-time.

Bluprintx Holdings: The company received an undisclosed amount of development capital from Palatine Private Equity on September 23, 2024. The company is a provider of marketing, sales, and customer experience technology consultancy.

BookingBee: The company raised an undisclosed amount of venture funding from Mudhal VC on September 26, 2024. The company is a developer of AI-powered appointment management software.

LumiQ: The company raised an undisclosed amount of venture funding from VERTU Capital (Canada) on September 24, 2024. The company is a provider of AI and cloud-based data analytics and business consulting solutions.

Quantum Systems: The company raised an estimated EUR 36.4 million of Series B venture funding in a deal led by Notion Capital and Porsche Automobil Holding on September 24, 2024. The company is an aerial data intelligence company that provides multi-sensor data collection products to government agencies and commercial enterprises.

Pyka: The company raised $40 million through a combination of debt and Series B venture funding in a deal led by Obvious Ventures on September 23, 2024, putting the company’s pre-money valuation at $94.7 million. Metaplanet Holdings, Piva Capital, Prelude Ventures,Y Combinator and other undisclosed investors also participated in the round. The company is a developer of large-scale autonomous electric aircraft.

Vernaio: The company is in the process of raising Series A1 venture funding as of September 26, 2024. The company is a developer of an AI-powered solution that autonomously identifies and understands the cause and effect of anomalies and disruptions impacting production environments.

Smartsheet / Blackstone: The company has entered into a definitive agreement to be acquired by Blackstone and Vista Equity Partners through a $8.4 billion LBO on September 24, 2024. The transaction was supported by $3.2 billion of debt financing. Smartsheet is a provider of a cloud-based work management software.

IQGeo / Kohlberg Kravis Roberts: The company was acquired by Kohlberg Kravis Roberts through a GBP 333 million LBO on September 23, 2024. The transaction values the company at GBP 350.5 million. IQGeo Group PLC provides telecom, fiber, and utility network operators with geospatial network management software solutions.

Polar Semiconductor / Niobrara Capital Partners: The company was acquired by Niobrara Capital Partners and Prysm Capital through a $175 million LBO on September 24, 2024. The company is a manufacturer of automotive-grade semiconductors intended to power vehicles, appliances and industrial products.

Markforged / Nano Dimension: The company reached a definitive agreement to be acquired by Nano Dimension, a subsidiary of Lite-On Technology, for $115 million on September 25, 2024. Markforged Holding Corp produces and sells metal 3D printers, metal parts and materials.

Campfire Interactive / Invictus Growth Partners: The company was acquired by Invictus Growth Partners through a $37 million LBO on September 24, 2024. The company is a SaaS provider of core business applications for the manufacturing industry.

Agent511 / Message Broadcast: The company was acquired by Message Broadcast, via its financial sponsors OceanSound Partners and Energy Impact Partners, through an LBO on September 26, 2024 for an undisclosed amount. The company is a provider of customer engagement communication software for public safety, utilities, and enterprise.

audvice / Hype 1000: The company was acquired by Hype 1000 for an undisclosed amount on September 24, 2024. The company is a developer of an audio-based learning and collaboration platform designed to create private podcasts from audio, video or text.

Efran Films Canada / RedBird IMI: The company was acquired by RedBird IMI, via its financial sponsors International Media Investments and RedBird Capital Partners, through an LBO on September 24, 2024 for an undisclosed amount. The company is a provider of production services intended for the film and web series indusrty.

Fire / Kerberus: The company was acquired by Kerberus for an undisclosed amount on September 25, 2024. The company is a developer of a web extension designed to simulate web3 transactions.

Ideta / Septeo: The company reached a definitive agreement to be acquired by Septeo for an undisclosed amount on September 23, 2024. The company is a developer of an AI-powered chatbot engagement platform designed to automate and enhance customer interaction.

Kamino Retail / Equativ: The company was acquired by Equativ, via its financial sponsors Bridgepoint Group and T.Capital, through an LBO on September 26, 2024 for an undisclosed amount. The company is a developer of an ad-tech software platform.

Niagara Video / RiverSilica: The company, a subsidiary of MultiDyne Video & Fiber Optic Systems, was acquired by RiverSilica, a subsidiary of Intellimedia Networks, for an undisclosed amount on September 27, 2024. The company is a manufacturer of a wide range of video recording products such as video encoders, transcoders, and decoders.

Parsable / CAI Software: The company was acquired by CAI Software, via its financial sponsor STG Partners, through an LBO on September 25, 2024 for an undisclosed amount. The company is a developer of digital tools to improve the productivity, quality and safety of industrial workers.

Realync / Grace Hill: The company was acquired by Grace Hill for an undisclosed amount on September 26, 2024. The company is a developer of a cloud-based virtual real estate touring platform.

Red Hook Studio / Behaviour Interactive: The company was acquired by Behaviour Interactive for an undisclosed amount on September 24, 2024. The company is an independent video game developer based in Vancouver, British Columbia

Tourney Pro / Fastbreak.ai: The company was acquired by Fastbreak.ai for an undisclosed amount on September 23, 2024. The company is a provider of tournament management solutions designed to meet the unique needs of youth sports organizations.

Source: Pitchbook Data, Inc.