Technology Private Placement and M&A Transactions Review Week Ending July 31 2022

BeReal: The company closed on $85 million of an undisclosed targeted amount of venture funding in a deal led by DST Global, putting the company’s pre-money valuation at $515 million. The company is a developer of a social photo-sharing application focused on capturing an authentic, unfiltered snapshot of a user’s life.

Underdog Fantasy: The company raised $55.4 million in Series B venture funding from Eilers & Krejcik Gaming, Corner Ventures, and Acies Investments on July 26, 2022, putting the company’s pre-money valuation at $440 million. Future Capital Development Fund, The Chainsmokers, Kygo, Mitch Garber, Trae Young, Odell Beckham Jr., Alec Vicari-Epstein, Kevin Durant, SV Angel, Mark Cuban, Kevin Carter, Steve Aoki, Nasir Jones, Breon Corcoran, Mark Pincus, LionTree Partners, BlackRock, and other undisclosed investors also participated in the round. The company is a developer of a fantasy sports game application focused on football and other sports with an emphasis on Best Ball leagues and Best Ball tournaments.

Cordial: The company raised $50 million of Series C venture funding in a deal led by NewSpring Capital on July 26, 2022, putting the company’s pre-money valuation at $250 million. ABS Capital Partners, Upfront Ventures and High Alpha also participated in the round. The company is a developer of a cross-channel messaging and data platform designed for marketers to deliver personal, relevant, and emotionally intelligent messages to their customers.

Nanosys: The company raised $50 million of Series B venture funding in a deal led by Centerbridge Partners, Kilonova Capital, and Fortress Investment Group on July 25, 2022. Other undisclosed investors also participated in the round. The company is a developer of a quantum dot display technology designed to deliver a lifelike, high-definition viewing experience.

Retool: The company raised $45 million of Series C2 venture funding from Sequoia Capital, Patrick Collison and Nat Friedman on July 28, 2022, putting the company’s pre-money valuation at $3.16 billion. John Collison, Elad Gil, Daniel Gross and Caryn Marooney also participated in the round. The company is a developer of a tool-building platform designed to help in building custom business tools without programming language knowledge.

Neon: The company raised $30 million of Series A1 venture funding in a deal led by GGV Capital on July 26, 2022. Khosla Ventures, General Catalyst, Founders Fund, Elad Gil, Nat Friedman, Ajeet Singh, Guillermo Rauch, Wes McKinney, Ryan Noon and Søren Bramer Schmidt also participated in the round. The company is a developer of open-source cloud-native Postgres as a service designed to create a cloud-native database service for developers.

Butlr: The company raised $20 million of Series A venture funding from Carrier Corporation, Tiger Global Management and Scale Asia Ventures on July 26, 2022. E14 Fund Management, Hyperplane Venture Capital, UNION Labs Ventures, Tectonic Ventures and Primetime Partners also participated in the round. The company is a developer of a personnel sensing platform designed to provide a seamless automated property management experience.

Paragon: The company raised $13 million of Series A venture funding in a deal led by Inspired Capital on July 27, 2022. FundersClub and Garuda also participated in the round. The company is a developer of a programming language designed to provide assistance for software development.

Datch: The company raised $12.6 million of Series A venture funding in a deal led by Blackhorn Ventures on July 26, 2022. Boeing HorizonX Global Ventures, Blue Bear Capital, Stage Venture Partners, Lorimer Ventures and Plug and Play Tech Center also participated in the round. The company is a developer of a voice interface platform designed for the industrial environment.

ProcedureFlow: The company raised $11.8 million of venture funding in a deal led by Canadian Business Growth Fund on July 26, 2022. Innovatia, Build Ventures, BDC Capital, Sandpiper Ventures and New Brunswick Innovation Foundation also participated in the round. The company is a developer of a cloud-based workflow-management platform designed to map processes, policies and procedures into small hyperlinked flowcharts.

Stadium Live: The company raised $10 million of Series A venture funding in a deal led by Union Square Ventures and KB Partners on July 28, 2022, putting the company’s pre-money valuation at $22 million. Breakout Capital, Thirtyfive Ventures, Dapper Labs, Origins Fund, Position Ventures, Valhalla Ventures, 6th Man Ventures and Alumni Ventures also participated in the round. The company is a developer of a sports community metaverse entertainment platform intended to serve the next generation of sports and esports fans and communities.

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Amobee / Tremor International: The company reached a definitive agreement to be acquired by Tremor International for $239 million as of July 25, 2022. The company is a developer of an advertising platform designed to unify all advertising channels including TV, programmatic and social, across all formats and devices.

amazee.io / Mirantis: The company was acquired by Mirantis for an undisclosed amount on July 26, 2022. The company is a developer of ZeroOps application delivery platform designed for engineering teams to deploy applications more easily.

AutoWeb / One Planet Group: The company reached a definitive agreement to be acquired by a subsidiary of One Planet Group for an undisclosed amount on July 25, 2022. The merger is expected to close by September 16, 2022. AutoWeb Inc is a digital marketing company for the automotive industry.

Carbon / VIQ Solutions: VIQ Solutions reached a definitive agreement to acquire the Carbon platform of Near for an undisclosed amount on July 26, 2022. The company is a developer of a cloud based software platform intended to enrich digital-world customer data with real-world attributes.

Prevision.io / Density: The company was acquired by Density for an undisclosed amount on July 25, 2022. The company is a developer of an automated machine learning platform designed to analyze predictive models.

QuantaCorp / BodiData: The company was acquired by BodiData for an undisclosed amount on July 25, 2022. The company is a provider of a measurement platform intended to offer three-dimensional body measurements.

RealNetworks / Greater Heights: The company reached a definitive agreement to be acquired by Greater Heights for an undisclosed amount on July 28, 2022. Greater Heights is an affiliate of Robert Glaser, the CEO of RealNetworks.  RealNetworks Inc creates products that employ artificial intelligence and machine learning to enhance and secure daily lives, including for facial recognition, antispam and fraud protection, and video streaming.

Rio SEO / Forsta: The company was acquired by Forsta, a subsidiary of Press Ganey Associates, for an undisclosed amount on July 26, 2022. The company is a developer of a local marketing platform to simplify local search marketing intended for retail, financial services, restaurants, hospitality, healthcare and agencies.

SyTrue / ClaimLogiq: The company was acquired by ClaimLogiq for an undisclosed amount on July 27, 2022. The company is a developer of system software specializing in storing and managing healthcare databases.

XR-Labs / TGI Solar Power Group: The company reached a definitive agreement to be acquired by Advent Galaxy subsidiary of TGI Solar Power Group for an undisclosed amount on July 26, 2022. The company is a developer of an extended reality platform designed for building and connecting global AR, VR and XR networks.