Technology Private Placement and M&A Transactions Review Week Ending November 3, 2024

Sierra: The company raised $175 million of venture funding in a deal led by Greenoaks Capital Partners on October 28, 2024, putting the company’s pre-money valuation at $4.3 billion. Thrive Capital and ICONIQ Capital also participated in the round. The company is a developer of a conversational artificial intelligence platform for enterprise AI agents.

GMI: The company raised $82 million of venture funding in a deal led by Headline Asia on October 29, 2024. Banpu, Wistron and other undisclosed investors also participated in the round. The company is a developer of a cloud-based platform designed for AI and machine learning model deployment.

Blacklane: The company raised EUR 60 million of Series G venture funding from TASARU Mobility Investments, ALSTIN Capital and Gargash Group on October 28, 2024, putting the company’s pre-money valuation at EUR 440 million. The company is an operator of an online luxury chauffeur service platform designed to offer carbon-neutral vehicles for traveling.

Read AI: The company raised $50 million of Series B venture funding in a deal led by Smash Capital on October 28, 2024, putting the company’s pre-money valuation at $409 million. Madrona Venture Group and Goodwater Capital also participated in the round. The company is a developer of a meeting analytics platform intended to automate scheduling, email and messages to centralize and simplify knowledge sources.

Regal: The company raised $40 million of venture funding in a deal led by Emergence (Financial Services) on October 30, 2024. Founder Collective and Homebrew also participated in the round. The company is a developer of an outbound phone and SMS sales platform designed to increase sales-led growth using real-time behavioral data.

Andium: The company raised $21.7 million through a combination of Series B venture funding in a deal led by Aramco Ventures on October 29, 2024, putting the company’s pre-money valuation at $117.3 million. Climate Investment, Thomas Miglis, Intrepid Financial Partners, and other undisclosed investors also participated in the round. The company is a developer of an end-to-end industrial IoT platform that brings intelligent software services to the device layer.

Browserbase: The company raised an estimated $21 million of Series A venture funding from undisclosed investors on October 29, 2024, putting the company’s pre-money valuation at $59 million. The company is a developer of a browser automation platform designed to host, manage, and monitor headless browsers in the cloud.

Voze: The company raised $12 million of Series A venture funding in a deal led by Mercury Fund and Origin Ventures on October 28, 2024. Album VC, Pipeline Capital Partners and other undiclosed investors also participated in the round. The company is a developer of a sales productivity platform that simplifies and streamlines the sales process.

Procurement Sciences AI: The company raised $11.4 million of Series A venture funding in a deal led by Battery Ventures on October 29, 2024, putting the company’s pre-money valuation at $23.6 million. K Street Capital, Blu Venture Investors, Tower Research Capital and other undisclosed investors also participated in the round. The company is a developer of an AI-based bidding system platform intended for government contractors.

IOTA Software: The company raised $10.4 million of Series A2 venture funding in a deal led by Altira Group on October 31, 2024. Aramco Ventures, Oxy Technology Ventures and Second Avenue Partners also participated in the round. The company is an enterprise-scale, cloud-native visualization platform that provides access to critical business and process information.

FYLD: The company raised $10 million of venture funding from NatWest Group on October 29, 2024. The company is a developer of a digital platform designed for utility field teams and managers.

RiPSIM Technologies: The company raised $9.8 million of venture funding from undisclosed investors on October 29, 2024. The company is a developer of an eSIM software designed for wireless service providers and 4G and 5G private network services.

Bifrost: The company raised $8 million of Series A venture funding in a deal led by Carbide Ventures on October 30, 2024. Airbus Ventures, Surge Ventures, Wavemaker Partners, MD ONE Ventures, Techstars and other undisclosed investors also participated in the round. The company is a developer of a simulation software designed to create custom virtual worlds.

Azimuth AI: The company raised $7.25 million of venture funding from Cyient on October 28, 2024. The company is a manufacturer of semiconductors and silicon-based products.

Diffblue: The company raised EUR 5.8 million of Series B venture funding from Oxford Investment Consultants, Parkwalk Advisors and IP Group on October 30, 2024. AlbionVC and Citigroup also participated in the round. The company is a developer of automated testing software designed to improve error-prone manual coding, with fully autonomous unit test writing.

Paragon: The company raised $5.5 million of venture funding from undisclosed investors on October 29, 2024. The company is a developer of a programming language designed to assist in software development.

Rockfish Data: The company raised $5.5 million of venture funding from undisclosed investors on October 30, 2024. The company is a developer of generative AI software designed to offer businesses safe and effective ways to leverage and share data.

Alliance Games: The company raised $5 million of Series A venture funding in a deal led by Animoca Brands and Asymm Ventures on October 31, 2024. The Spartan Group, Ninety Eight, Kyros Ventures, Loi Luu and Sebastien Assayag also participated in the round. The company is a developer of video games.

ISTARI.AI: The company raised an undisclosed amount of venture funding from Investment and Structural Bank of Rhineland-Palatinate on October 31, 2024. The company is a developer of an artificial intelligence-based website analytics technology for real time information discovery.

Puloli: The company raised an undisclosed amount of venture funding on November 1, 2024. The company is a provider of turn-key IoT network management services for critical infrastructure industries.

Tagmarshal: The company raised Series A venture funding in November 2024. The company is a developer of a golf course optimization platform designed to improve operational efficiencies, the pace of play, create additional revenue and better golf experiences.

VITURE: The company raised an undisclosed amount of venture funding from BAI Capital, Singtel Innov8 and BlueRun Ventures on October 30, 2024. Verity Venture also participated in the round. The company is a developer of augmented reality glasses designed to play games and watch movies.

Superstruct Entertainment / CVC Capital Partners: The company was acquired by Kohlberg Kravis Roberts and CVC Capital Partners through a GBP 1.3 billion LBO on October 28, 2024. The company is an operator of a platform that owns and operates large-scale festivals and live music events in Europe and Australia.

FullCircl / nCino: The company reached a definitive agreement to be acquired by nCino for GBP 135 million on October 30, 2024. The company is a SaaS cloud service provider for banks and other financial institutions.

Altair Engineering / Siemens: The company reached a definitive agreement to be acquired by Siemens in a deal worth approximately $10 billion on October 30, 2024. Altair Engineering Inc is a provider of enterprise-class software and cloud solutions for product development, high-performance computing, and data analytics.

Causal / LucaNet: The company was acquired by LucaNet, via its financial sponsor Hg, through an LBO on October 31, 2024 for an undisclosed amount. The company is a developer of a business planning platform designed to build models, and visualize data.

Cinecrans / Cinéville: The company was acquired by Cinéville for an undisclosed amount on October 29, 2024. The company is an operator of movie theatres based in Crans-Montana, Switzerland.

Ferris Music Service / Amuze Products: The company was acquired by Amuze Products, via its financial sponsors Bluehenge Capital Partners and Surge Private Equity, through an LBO on October 28, 2024 for an undisclosed amount. The company is a provider of entertainment services intended for bars, restaurants, and other venues.

Hot Sauce Pictures / Sony Pictures Television: The company was acquired by Sony Pictures Television, a subsidiary of Sony Pictures Entertainment, for an undisclosed amount on October 29, 2024. The company is an operator of a movie production company based in Belfast, United Kingdom.

Kinney Group / Presidio: The company was acquired by Presidio, via its financial sponsors BC Partners and Clayton, Dubilier & Rice, through an LBO on October 28, 2024 for an undisclosed amount. The company is a developer of machine data analytics software.

Klassik Radio / UK Media Invest: The company reached a definitive agreement to be acquired by UK Media Invest for an undisclosed amount on October 28, 2024. Klassik Radio AG is an independent radio holding company.

Omnivore / ElevenLabs: The company was acquired by ElevenLabs for an undisclosed amount on October 29, 2024. The company is a developer of a read-it-later application designed to streamline reading and knowledge retention.

ONE Store International / Digital Turbine: The company, a subsidiary of ONE Store, was acquired by Digital Turbine for an undisclosed amount on October 30, 2024. The company is a developer and operator of an online application marketplace based in Amsterdam, Netherlands.

Pulsewire.Ai / Moon Equity Holdings: The company was acquired by Moon Equity Holdings for an undisclosed amount on October 31, 2024. The company is a developer of a real-time news tracking technology platform intended to provide businesses with real-time data insights through advanced AI and technology.

RPM Interactive / DatChat: The company was acquired by DatChat for an undisclosed amount on October 30, 2024. The company is a developer of artificial intelligence generated consumer gaming and podcasting/vodcasting software based in the United States.

Semasio / Samba TV: The company was acquired by Samba TV for an undisclosed amount on October 29, 2024. The company is a developer of a cloud-based advertising platform designed to segment target group profiles for advertisers.

Squadrone System / Delair: The company was acquired by Delair for an undisclosed amount on October 29, 2024. The company is a manufacturer of an autonomous UAVs.

TrainingPeaks Virtual / TrainingPeaks: The company was acquired by TrainingPeaks, via its financial sponsor LaunchEquity Partners, through an LBO on October 29, 2024 for an undisclosed amount. The company is a developer of an online cycling and esports event streaming platform.

WBNX TV55 / Nexstar Media Group: Nexstar Media Group reached a definitive agreement to acquire the company, a subsidiary of Winston Broadcasting Company for an undisclosed amount on October 28, 2024. The company is an operator a media company that produces and distributes local and national news, sports and entertainment content in the Cleveland-Akron-Canton area of Ohio.

Source: Pitchbook Data, Inc.