Technology Private Placement and M&A Transactions Review Week Ending September 15, 2024

Glean: The company raised $260 million of Series E venture funding in a deal led by Altimeter Capital Management and DST Global on September 10, 2024, putting the company’s pre-money valuation at $4.25 billion. Coatue Management, SoftBank Investment Advisers, Lightspeed Ventures, Kleiner Perkins, General Catalyst, Sequoia Capital, ICONIQ Growth, IVP, Craft Ventures, and Sapphire Ventures also participated in the round. The company is a developer of an AI-powered platform designed to improve workplace efficiency by connecting and managing enterprise data.

World Labs: The company raised $230 million of venture funding in a deal led by Radical Ventures, Andreessen Horowitz and New Enterprise Associates on September 13, 2024, putting the company’s pre-money valuation at an estimated $900 million. AMD Ventures, Intel Capital, NVentures, Adobe Ventures, Databricks Ventures, Nvidia, Marc Benioff, Jim Breyer, Ronald Conway, Jeff Dean, Geoffrey Hinton, Reid Hoffman, Andrej Karpathy, Ashton Kutcher, Eric Schmidt, Ram Shriram, Anne Wojcicki, Susan Wojcicki and Shinrai Investments also participated in the round. The company is a developer of an AI platform designed for humanlike processing of visual data.

Forterra: The company raised $75 million of Series B venture funding in a deal led by Moore Strategic Ventures, XYZ Venture Capital and Hedosophia on September 10, 2024. Enlightenment Capital, Crescent Cove Advisors, Standard Investments and Four More Capital also participated in the round. The company is a developer of a robotic vehicle autonomy technology for the military and industrial sectors.

webAI: The company raised $59 million of Series A venture funding from undisclosed investors on September 10, 2024, putting the company’s pre-money valuation at $641 million. The company is an operator of an AI-based platform designed to streamline the training, deployment, and execution of AI models by offering a unified execution layer for AI.

Smartcat: The company raised $42.4 million in Series C venture funding in a deal led by Left Lane Capital on September 10, 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 that matches user content with a specific translation engine to produce high-quality translations for all language pairs.

FlapKap: The company raised $34 million of venture funding through a combination of debt and equity on September 9, 2024. The equity portion of the deal was led by BECO Capital along with participation from A15, Nclude, QED Investors, and PactVC. The debt portion of the deal was provided by Channel Capital. The company offers revenue-based and embedded finance solutions to assist SMEs in increasing their inventory and digital ads with quick cash and the option to pay later.

Lightyear: The company raised $31.2 million of venture funding from undisclosed investors on September 13, 2024. The company is a developer of cloud-based telecommunication software designed to procure information technology infrastructure and manage service contracts.

Spare Labs: The company raised CAD 42 million of Series B venture funding in a deal led by Inovia Capital on September 10, 2024. Kensington Capital Partners and Nicola Wealth Private Capital also participated in the round. The company is an operator of a community-driven ride-sharing platform.

AttoTude: The company raised $29 million of Series A venture funding from Sutter Hill Ventures, Canaan Partners and Wing Venture Capital on September 10, 2024. The company is a developer of interconnection technology for data centers.

Connectly: The company raised $20 million of Series B venture funding in a deal led by Alibaba Group on September 11, 2024, putting the company’s pre-money valuation at $70 million. RX Ventures, Falabella Ventures, Unusual Ventures, Volpe Capital and other undisclosed investors also participated in the round. The company is an operator of an AI-powered e-commerce customer support platform designed to help clients build meaningful relationships with customers.

Minno: The company raised $14.7 million of venture funding from undisclosed investors on September 10, 2024. The company is a developer of an online video platform.

Everactive: The company raised $11 million of venture funding from undisclosed investors on September 10, 2024. The company is a developer of self-powered IoT sensing technology for industrial assets.

Howbout: The company raised GBP 7.5 million of Series A venture funding in a deal led by Goodwater Capital on September 13, 2024, putting the company’s pre-money valuation at GBP 20.2 million. Sequel Group, Angel Invest, Boost Capital Partners, FJ Labs and Harry Maguire also participated in the round. The company is a developer of a social planning application designed to organize events with friends.

Nostra AI: The company raised $8.9 million Series A venture funding in a deal led by High Alpha on September 11, 2024, putting the company’s pre-money valuation at $48.1 million. Crosscut Ventures, Good Friends, Sugar Capital, Signal Peak Ventures, Matthew Prince, and other undisclosed investors also participated in the round. The company is a developer of an AI-powered e-commerce platform designed to optimize website performance and enhance customer conversion.

Reveal Technology: The company raised an estimated $6.7 million of Series A venture funding from Next Frontier Capital, and other undisclosed investors on September 11, 2024, putting the company’s pre-money valuation at $78.3 million. The company is a developer of advanced AI-powered situational awareness technology designed for defense and public safety teams.

Chata.ai: The company raised $5 million of Series A1 venture funding from undisclosed investors on September 9, 2024. The company is a developer of a self-service analytics solution that connects to an enterprise’s database and empowers users to securely access important data through natural language.

[SmokeSpotGames]: The company raised an undisclosed amount of venture funding from Kinetix on September 12, 2024. The company is a developer of mobile gaming applications.

OpenTrons: The company raised an undisclosed amount of venture funding from Bill Gates, Vinod Khosla and undisclosed investors on September 13, 2024. The company is a developer of open-source lab automation robots.

Saber Interactive: The company received an undisclosed amount of development capital from Crestview Partners and Aleph Capital Partners on September 13, 2024. The company is a developer of video games based in Fort Lauderdale, Florida.

Axcient / ConnectWise: The company entered into a definitive agreement to be acquired by ConnectWise, via its financial sponsors Thoma Bravo and 345 Partners, through an estimated $450 million LBO on September 10, 2024. The company is a developer of business continuity and disaster recovery software for managed service providers and system integrators.

ACOM Systems / Valsoft Corporation: The company was acquired by Valsoft Corporation, via its financial sponsors Coatue Management and Viking Global Investors, through an LBO on September 9, 2024 for an undisclosed amount. The company is a developer of document and payment output management solutions.

Angel Studios / Southport Acquisition: The company has entered into a definitive agreement to be acquired by Southport Acquisition through a reverse merger for an undisclosed amount, resulting in the combined entity trading on the NASDAQ stock exchange under the ticker symbol AGSD at a value of $1.6 billion, as of September 11, 2024. The company is a provider of streaming media services.

Bounty / gen.video: The company was acquired by gen.video for an undisclosed amount on September 9, 2024. The company is a developer of a web application designed to help TikTok creators monetize brand reviews and recommendations.

CLPB Media / studio incognita: The company was acquired by studio incognita for an undisclosed amount on September 10, 2024. The company is a producer of entertainment products and services.

Image Relay / Atrium Capital: The company was acquired by Canto on September 11, 2024, for an undisclosed amount. The company is a developer of digital asset management software.

Late Night Labs / XTR: The company was acquired by XTR for an undisclosed amount on September 9, 2024. The company is an operator of a film and animation studio based in Los Angeles, California.

Mission Control / LeagueSpot: The company was acquired by LeagueSpot for an undisclosed amount on September 12, 2024. The company is an operator of a video game based community engagement platform.

MyGraduationClip / First Sight Media: The company was acquired by First Sight Media for an undisclosed amount on September 11, 2024. The company is a developer of video clipping software intended for universities.

PicDrop / SaaS.group: The company was acquired by SaaS.group through an LBO on September 9, 2024 for an undisclosed amount. The company is a developer of image-sharing and collaboration software.

Procidis / Banijay Group: The company was acquired by Banijay Group, via its financial sponsors LOV Group, Banijay Group and De Agostini, through an LBO on September 9, 2024 for an undisclosed amount. The company is a producer of a range of edutainment animation series.

Punchkick Interactive / Eidra AB: The company a subsidiary of Wipfli was acquired by Eidra for an undisclosed amount on September 11, 2024. The company is a developer of custom digital software for brand engagement.

RSG Media Systems / RightsLine: The company, a subsidiary of Naviga, was acquired by RightsLine, via its financial sponsor Klass Capital, through an LBO on September 12, 2024 for an undisclosed amount. The company is a developer of media management software.

Sawayo / Infoniqa Holding: The company was acquired by Infoniqa Holding, via its financial sponsors Elvaston Capital Management and Warburg Pincus, through an LBO on September 10, 2024 for an undisclosed amount. The company is a developer of an AI-powered SaaS platform designed to improve the productivity of entrepreneurs and business owners.

SkyKick / ConnectWise: The company was acquired by ConnectWise for an undisclosed amount on September 10, 2024. The company is a developer of a cloud automation and backup management software.

Spideo / Mediagenix: The company was acquired by Mediagenix, via its financial sponsors BNP Paribas Fortis Private Equity and Sofindev, through an LBO on September 10, 2024 for an undisclosed amount. The company is a developer of television and movie recommendation engines.

Source: Pitchbook Data, Inc.