Technology Private Placement and M&A Transactions Review Week Ending June 9, 2024

Storyblok: The company raised EUR 74 million of Series C venture funding in a deal led by Brighton Park Capital on June 4, 2024. 3VC, Firstminute Capital, HV Capital, and Mubadala Capital also participated in the round. The company is a developer of a cloud-based content management system.

Pika: The company raised $80 million of Series B venture funding in a deal led by Spark Capital on June 4, 2024, putting the company’s pre-money valuation at $390 million. Conviction Capital, Lightspeed Venture Partners, NYX Ventures Partners, Greycroft, Makers Fund, Neo, Nat Friedman, Jared Leto, SV Angel, Adam D’Angelo, Alex Chung, Daniel Gross, Elad Gil, Andrej Karpathy, Clément Delangue, Craig Kallman, Aravind Srinivas, Mateusz Staniszewski, Karim Atiyeh, Mike Vernal and Aaron Levie also participated in the round. The company is a developer of an artificial intelligence-based text-to-video platform.

Twelve Labs: The company raised $50 million of venture funding in a deal led by NVentures and New Enterprise Associates on June 4, 2024. Intel Capital, Index Ventures, WndrCo, Radical Ventures, Samsung NEXT Ventures, and Korea Investment Partners also participated in the round. The company is a developer of a multimodal artificial intelligence platform intended to bring video understanding to applications.

Neural Concept: The company raised CHF 27 million of Series B venture funding in a deal led by Alven Capital Partners and Forestay Capital on June 3, 2024. Aster Group, CNB Capital, HTGF III, and The D. E. Shaw Group also participated in the round. The company is a developer of an artificial intelligence algorithmic platform designed to facilitate computer-assisted engineering and design.

Cube Dev: The company raised $25 million of venture funding in a deal led by Databricks Ventures on June 6, 2024. Eniac Ventures, 645 Ventures, Bain Capital Ventures, Decibel Partners and AAL Management also participated in the round. The company is a developer of an analytical application platform designed to deliver a universal semantic layer that connects data sources to data apps, embedded analytics, BI tools, LLMs, or AI agents.

Posh: The company raised $22 million of Series A venture funding from undisclosed investors on June 3, 2024, putting the company’s pre-money valuation at $93 million. The company is a developer of an event management and ticketing platform for live experiences.

Patronus AI: The company raised $20 million of venture funding from undisclosed investors on June 6, 2024. The company is a developer of an automated AI evaluation and security platform.

Whoosh: The company raised an estimated $10.3 million of Series A venture funding in a deal led by AlleyCorp on May 23, 2024, putting the company’s pre-money valuation at an estimated $24.7 million. Raptor Group, Larry Fitzgerald, Andy Roddick, Alison Lee, Kurt Kitayama and other undisclosed investors also participated in the round. The company is a developer of a cloud-based, tablet-focused tee sheet and booking tool for golf clubs.

Dive: The company raised $10 million of venture funding in a deal led by The D. E. Shaw Group on June 5, 2024. First Momentum Ventures, Senovo and Segenia Capital also participated in the round. The company is a developer of cloud and browser-based engineering software intended for the simulation of fluid flows.

Further Technology: The company entered into a definitive agreement to receive $10 million of development capital from an undisclosed investor on June 3, 2024. The company is a developer of automated virtual sales assistant software.

Ixana: The company raised $10 million of Series A venture funding in a deal led by 10x Founders on June 4, 2024. Ultratech Capital Partners, Konvoy Ventures, Scrum Ventures and other undisclosed investors also participated in the round. The company is a manufacturer of electronic wearables that develops high-speed human-computer interfaces.

Testsigma: The company raised $8.2 million of venture funding in a deal led by MassMutual Ventures on June 5, 2024. STRIVE, Accel and Boldcap also participated in the round. The company is a developer of a low-code, cloud-based test automation platform that lets QA teams automate tests without coding expertise.

Descartes & Mauss: The company raised EUR 5.5 million of venture funding from One Green, Elaia Partners and Polytechnique Ventures on June 4, 2024. The company is an operator of an artificial intelligence-based platform intended to predict and develop business strategies.

GigFinesse: The company raised $5.8 million in Series A venture funding from undisclosed investors on June 3, 2024, putting the company’s pre-money valuation at $40 million. The company is an operator of an online booking platform for artists and venues.

Documo: The company raised $5 million of venture funding from undisclosed investors on June 6, 2024. The company is a developer of document workflow software.

Dimension Studio: The company received an undisclosed amount of development capital from Growth Catalyst Partners on June 3, 2024. The company is a developer of virtual humans for film, TV, and immersive entertainment.

Prevu3D: The company raised an undisclosed amount of venture funding from McRock Capital on June 5, 2024. The company is a developer of a 3D digital twin technology for manufacturing sites.

Touchcast: The company is in the process of raising venture funding from VU Venture Partners & other undisclosed investors on June 4, 2024. The company is a developer of a complete end-to-end tech stack for the Generative Web.

PowerSchool Group / Bain Capital: The company entered into a definitive agreement to be acquired by Bain Capital through a $5.6 billion public-to-private LBO on June 7, 2024. PowerSchool Holdings Inc is a provider of cloud-based software to the K-12 education market.

Tabular / Databricks: The company was acquired by Databricks for $1 billion on June 4, 2024. The company is a developer of a data automation platform to support large open-source analytic datasets.

GoCanvas / Nemetschek Group: The company reached a definitive agreement to be acquired by Nemetschek Group for an estimated $700 million on June 6, 2024. The company is a developer of a cloud-computing SaaS platform designed to help companies streamline jobsite data collection from the field to the office.

Action Face / Infinite Reality: The company was acquired by Infinite Reality, a subsidiary of Display Social, for an undisclosed amount on June 4, 2024. The company is a developer of an ai-powered platform to create customized virtual figures and avatars.

Awaken Intelligence / Tethr: The company reached a definitive agreement to be acquired by Tethr for an undisclosed amount on June 3, 2024. The company is a developer of an AI-powered contact center software designed to improve customer interactions with intelligent conversational analytics and dynamic agent guidance.

Beachfront Media / Seedtag: The company was acquired by Seedtag for an undisclosed amount on June 3, 2024. The company is an operator of a sell-side ad platform for mobile video advertising.

Brytlyt / Opensignal: The company was acquired by Opensignal, via its financial sponsors Berkshire Partners and Silversmith Capital Partners, through an LBO on June 5, 2024 for an undisclosed amount. The company is a developer of a GPU-accelerated database platform designed to provide real-time analytics and visualization of data.

Downtown Paris / Publicis Groupe: The company was acquired by Publicis Groupe for an undisclosed amount on June 5, 2024. The company is an operator of a production house based in Paris, France.

Eigen Technologies / SirionLabs: The company was acquired by SirionLabs for an undisclosed amount on June 6, 2024. The company is a developer of natural language processing technology designed to read and extract data from complex documents.

Kit / ConvertKit: The company was acquired by ConvertKit for an undisclosed amount on June 6, 2024. The company is an operator of a social community platform designed for creators to promote products.

Meters Music / ERA Music: The company was acquired by ERA Music for an undisclosed amount on June 7, 2024. The company is a manufacturer and retailer of headphones and audio equipment.

NFT Insider / Nifty Media: The company was acquired by Nifty Media for an undisclosed amount on June 4, 2024. The company is an operator of a blockchain gaming platform.

Pliops / Kalray: The company was acquired by Kalray for an undisclosed amount on June 3, 2024. The company is a developer of cloud storage processor technology designed to improve storage processors for cold storage and database applications.

Privateer Press / Steamforged Games: The company was acquired by Steamforged Games, via its financial sponsor Foresight Group, through an LBO on June 3, 2024 for an undisclosed amount. The company is an operator of a gaming platform based in the United States.

StorySpheres / MetaTec: The company was acquired for an undisclosed amount on June 6, 2024. The company is a developer of an online 360-degree imagery platform.

Streamsync / Writer: The company was acquired by Writer for an undisclosed amount on June 5, 2024. The company is a developer of an open-source platform designed to help developers in creating AI apps.

SwingU / Golf Genius Software: The company was acquired by Golf Genius Software, via its financial sponsors MVP Capital Partners, Phase 2 Investments and Symphony Ventures, through an LBO on June 3, 2024 for an undisclosed amount. The company is an operator of a sports technology and media company focused on golf game improvement.

Theorem Solutions / Tech Soft 3D: The company was acquired by Tech Soft 3D, via its financial sponsor Battery Ventures, through an LBO on June 4, 2024 for an undisclosed amount. The company is a developer of engineering tools for CAD translation, interactive documentation and full scale immersive xr visualization and collaboration.

Threads / Shopify: The company was acquired by Shopify for an undisclosed amount on June 7, 2024. The company is a developer of a decision-making software platform designed to sync discussions for distributed teams.

Verta / Cloudera: The company was acquired by Cloudera, via its financial sponsors Clayton, Dubilier & Rice and Kohlberg Kravis Roberts, through an LBO on June 3, 2024 for an undisclosed amount. The company is a developer of software infrastructure designed to address the problem of artificial intelligence and machine learning model and operations management. 

Source: Pitchbook Data, Inc.