Technology Private Placement and M&A Transactions Review Week Ending Feb 11, 2024

Strategy | Financing Transactions
Private Placement / Financing Transactions

NinjaOne: The company raised $231.5 million of Series C venture funding in a deal led by ICONIQ Growth on February 6, 2024. Frank Slootman, Amit Agarwal, and other undisclosed investors also participated in the round. The company is a developer of a cloud-based platform to monitor, manage, and support the IT operations of managed service providers.

ZEDEDA: The company raised $72 million through a combination of Debt and Series B venture funding in a deal led by Smith Point Capital on February 7, 2024, putting the company’s pre-money valuation at $299 million. Rockwell Automation, Juniper Networks, Porsche Ventures, Chevron Technology Ventures, Emerson Ventures, Forward Investments, Endeavor Catalyst, LDV Partners, Almaz Capital, Lux Capital, Coast Range Capital, 5G Open Innovation Lab, The Hillman Company, and other undisclosed investors also participated in the round. The company is a developer of a cloud-native edge virtualization platform designed to monitor, visualize, and secure real-time edge applications.

StatusPro: The company raised $23 million of Series A venture funding in a deal led by GV on February 02, 2024, putting the company’s pre-money valuation at $57 million. Haslam Sports Group, Dream Sports, Main Street Advisors, TitletownTech, JDS Sports, WISE Ventures, Alumni Ventures, Zygi Wilf, Mark Wilf, Peter Delgrosso, Bobby Wagner, Jeffrey Stibel, Kayvon Thibodeaux, Crystal Hayslett, Devale Ellis, Black Angel Group, Myles Garrett, LeBron James, Drake, Maverick Carter, Cameron Jordan, Andre Gaines, Fuller Brothers, Life Line Family Heritage Fund and Sun Technology Investors also participated in the round. The company is an operator of a sports technology business intended to combine data with augmented and virtual reality for training purposes.

Colossyan: The company raised $22 million of Series A venture funding in a deal led by Lakestar on February 6, 2024. Day One Capital, Oktogon Ventures, LAUNCHub Ventures, Emerge and other undisclosed investors also participated in the round. The company is an operator of an artificial intelligence-based video generation platform intended to help individuals and companies to produce videos at scale.

Polycam: The company raised $18 million through a combination of Series A5 and Series A6 venture funding in a deal led by Adjacent Venture Capital and Left Lane Capital on February 7, 2024, putting the company’s pre-money valuation at $52 million. Adobe Ventures, Shaun Maguire, Julien Chaumond, Barry McCardel, Chad Hurley and other undisclosed investors also participated in the round. The company is a developer of a sensor application designed to enable rapid three-dimensional (3D) scanning.

Upstash: The company raised $10 million of Series A venture funding in a deal led by Andreessen Horowitz on February 8, 2024. The company is a developer of a serverless data platform designed for durable storage.

Jam: The company raised $8.9 million of Series A venture funding in a deal led by GGV Capital U.S. on February 6, 2024. Figma Ventures, Guillermo Rauch, Suhail Doshi, Paul Yacoubian, Claire Vo Lawless, Austen Allred, Cassidy Williams, Sandeep Jain and Amanda Kleha also participated in the round. The company is a developer of a collaboration platform designed to optimize the operational efficiency of software developers and designers.

Attentive: The company raised $7 million of Series A venture funding in a deal led by Vertex Ventures Southeast Asia & India on February 8, 2024. InfoEdge Ventures, Peak XV Partners, Tenacity Ventures, and Surge also participated in the round. The company is a developer of geospatial analytics software intended to provide a monitoring platform to governments, and commercial and humanitarian institutions.

Oliver IQ: The company raised $5.85 million of venture funding from undisclosed investors on February 9, 2024. The company is a developer of a digital platform intended for managing connected home services such as in-home automation, continuous remote monitoring, reliable Wi-Fi, automated systems, lighting, security, and HVAC.

Stoke Games: The company raised $5.5 million of venture funding in a deal led by BITKRAFT Ventures on February 8, 2024. Riot Games, 1Up Ventures, and other undisclosed investors also participated in the round. The company is a developer of a shooter-adjacent game designed to deliver peak gaming experiences for players.

Branching Minds: The company raised an undisclosed amount of venture funding from Bain Capital Double Impact on February 8, 2024. The company is a developer of a cloud-based educational application designed to help teachers to identify students’ cognitive learning strengths and challenges, algorithmically match them with research-backed learning supports, and then track and report data on student progress.

Respeecher: The company raised an undisclosed amount of venture funding from BADideas.fund on February 8, 2024. The company is an operator of a voice marketplace and real-time voice cloning platform intended to produce synthetic speech.
M&A Transactions

Everbridge / Thoma Bravo: The company entered into a definitive agreement to be acquired by Thoma Bravo through an estimated $1.5 billion public-to-private LBO on February 5, 2024. Everbridge Inc is a SaaS-based software company that provides enterprise software applications that automate and accelerate organizations’ operational response to critical events.

Jagex / CVC Capital Partners: The company entered into a definitive agreement to be acquired by Haveli Investments and CVC Capital Partners through an estimated GBP 910 million LBO on February 9, 2024. The company is a developer and publisher of video games intended for computers and mobile devices.

Playmaker Capital / Better Collective: The company was acquired by Better Collective for CAD 258 million on February 6, 2023. Playmaker Capital Inc is a digital sports media company at the nexus of sports, media, gambling, and technology.

Lynk / Slam: The company reached a definitive agreement to go public with Slam through a reverse merger on February 5, 2024. The company is a leading provider of satellite-direct-to-standard-phone space cell tower technology designed to offer broadband connectivity to standard cell phones.

Dog Haus Filmproduktion / Spark Studios: The company was acquired by Spark Studios for an undisclosed amount on February 5, 2024. The company is an operator of a film production company in Berlin and Munich.

DUNKD / Positive NL: The company was acquired by Positive NL for an undisclosed amount on February 11, 2024. The company is a producer of short videos based in Amsterdam, Netherlands.

eLama / Yandex: The company reached a definitive agreement to be acquired by Yandex for an undisclosed amount on February 7, 2024. The company is a developer of an online contextual advertising platform.

Instant Win Gaming / Allwyn: The company entered into a definitive agreement to be acquired by Allwyn, via its financial sponsors Apollo Global Management and KKCG, through an LBO on February 5, 2024 for an undisclosed amount. The company is a developer of an online gaming platform for lottery-winning games.

Kongregate / Monumental: The company, a subsidiary of Modern Times Group MTG reached a definitive agreement to be acquired by Monumental for an undisclosed amount on February 8, 2024. The company is a developer of mobile and computer games intended to serve game players and game developers.

Metamaze / Duco Technology: The company was acquired by Duco Technology, via its financial sponsor Nordic Capital, through an LBO on February 6, 2024 for an undisclosed amount. The company is a developer of a no-code document processing platform intended to help automate classification and data extraction from documents and emails.

PIX Business / Autodesk: The PIX Business of X2X reached a definitive agreement to be acquired by Autodesk for an undisclosed amount on February 5, 2024. The company is an operator of a media asset management platform based in Los Angeles, California.

Pixelus / Kaizen Agency: The company was acquired by Kaizen Agency for an undisclosed amount on February 9, 2024. The company is an operator of a digital communications agency specializing in web designing, social media, branding, responsive design, and storyboarding.

Portfolio Entertainment / 9 Story Media Group: The company entered into a definitive agreement to be acquired by 9 Story Media Group, via its financial sponsor ZMC, through an LBO on February 5, 2024 for an undisclosed amount. The company specializes in the production, distribution and animation of content for television and digital content providers along with a catalog of children’s live-action, animation, factual and lifestyle content.

Zoba / Marti: The company was acquired by Marti for an undisclosed amount on February 5, 2024. The company is a developer of an optimization platform designed to automate operational decisions and attain fleet performance goals for two-wheeled electric vehicle operations. 

Source: Pitchbook Data, Inc.

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