Technology Private Placement and M&A Transactions Review Week Ending September 7, 2025

Anthropic: The company raised $13 billion of Series F venture funding in a deal led by Lightspeed Venture Partners, ICONIQ Capital and Fidelity Management & Research Company on September 2, 2025, putting the company’s pre-money valuation at $170 billion. Jane Street, LG Technology Ventures, Blackstone, Coatue Management, Goldman Sachs Growth Equity, General Atlantic, TPG, Baillie Gifford, Index Ventures, Realm Capital Ventures, Insight Partners (New York), General Catalyst, Altimeter Capital Management, Alphabet, D1 Capital Partners, Ontario Teachers’ Pension Plan, Qatar Investment Authority, BlackRock, T. Rowe Price Group, WCM Investment Management, XN, GIC Private, Alkeon Capital Management and other undisclosed investors also participated in the round. Out of the total amount, $750 million was raised in the form of convertible debt and subsequently converted to equity. The company is a developer of a large language model platform designed for business-critical use cases.

Sierra: The company raised $350 million of venture funding in a deal led by Greenoaks Capital Partners on September 4, 2025, putting the company’s pre-money valuation at $9.65 billion. The company is a developer of a conversational artificial intelligence platform intended to provide enterprises with AI agents.

Lightelligence: The company raised $210 million of Series C venture funding from China Reform Holdings Corporation, China Mobile Capital and Shanghai State-owned Capital Investment on September 4, 2025. Shanghai Pudong Technology Financial Service, Yijing Capital, CAS Star and other undisclosed investors also participated in the round. The company is a developer of an optical computing platform designed for disaggregated AI memory applications compatible with PCIe 5.06.0 and CXL2.03.0.

Baseten: The company raised $150 million of Series D venture funding in a deal led by BOND Capital (San Francisco) on September 5, 2025, putting the company’s pre-money valuation at $2 billion. CapitalG, Premji Invest, Greylock, IVP, Spark Capital, Conviction Partners, 01 Advisors, Elizabeth Weil and Kevin Weil also participated in the round. The company is a developer of machine learning models designed to provide infrastructure to deploy models performantly, scalably and cost-effectively.

Exa: The company raised $85 million of Series B venture funding in a deal led by Benchmark Capital Holdings on September 3, 2025, putting the company’s pre-money valuation at $615 million. NVentures, Lightspeed Venture Partners, Y Combinator, and other undisclosed investors also participated in the round. The company is a developer of an artificial intelligence-powered search engine designed to perform web searches at a large scale.

ProRata: The company raised $40 million of Series B venture funding in a deal led by Touring Capital on September 5, 2025. Revolution Ventures, Mayfield Fund, BOLD Capital Partners, MVP Ventures, XPV, SBI Investment and IdeaLab Studio also participated in the round. The company is a developer of an AI-powered search, advertising, and attribution platform designed to give content creators credit and compensation when their work is used.

Ketryx: The company raised $39 million of Series B venture funding in a deal led by Transformation Capital on September 4, 2025. E14 Fund, Lightspeed Venture Partners, Ubiquity Ventures, 53 Stations, Guru Chahal and Bill Hawkins also participated in the round. The company is a developer of an artificial intelligence-driven compliance platform that enables safety-critical industries to meet strict documentation requirements faster.

Recall: The company raised $38 million of Series B venture funding in a deal led by Bessemer Venture Partners on September 4, 2025. HubSpot Ventures, Salesforce Ventures, RTP Global, Ridge Ventures, Y Combinator, Paul Graham, Solomon Hykes, Michael Siebel and Eoghan McCabe also participated in the round. The company is a developer of a cloud-based enterprise conferencing software designed to provide access APIs for recordings, transcripts, and metadata from video meetings.

Everlyn: The company raised $15 million of venture funding from Mysten Labs, Aethir, and Baseline Emirates on September 1, 2025, putting the company’s pre-money valuation at $235 million. Selini Capital, Nesa Capital, io.net, and MH Ventures also participated in the round. The company is a developer of AI video generation technology.

Rive: The company raised an estimated $8.5 million of Series A venture funding from BMW i Ventures, and other undisclosed investors on September 2, 2025, putting the company’s pre-money valuation at $122.5 million. The company is a developer of a real-time animations and interactive graphics platform that can be integrated into apps, games, websites, and other digital products.

PeakMetrics: The company raised $7.2 million of Series A venture funding from undisclosed investors on September 3, 2025, putting the company’s pre-money valuation at $27.3 million. The company is a developer of a narrative intelligence platform that uses AI to help governments and enterprises detect, analyze, and counter emerging online narrative attacks, such as media manipulation, disinformation, and deepfakes.

Cariina: The company raised $5.6 million of Series A venture funding from New Silver Capital, Jason Krantz, and other undisclosed investors on September 2, 2025, putting the company’s pre-money valuation at $20.1 million. The company is a developer of an operations enablement platform designed to promote safety, efficiency and transparency within schools.

Arrcus: The company raised an undisclosed amount of venture funding from 1Finity and Fujitsu on September 3, 2025. The company is a developer of a linux-based networking software platform, designed to simplify and transform network infrastructure for hyperscale environments, including data centers, edge computing, and multi-cloud deployments,

ARTLAS: The company raised an undisclosed amount of venture funding from NYX Ventures Partners in September 2025. The company is a developer of an AI-powered cultural companion platform designed to enhance how people experience art and cultural landmarks.

Authenticx: The company raised an undisclosed amount of venture funding from Run Ventures on September 2, 2025. The company is a developer of a voice analysis platform that helps healthcare organizations analyze and activate customer interaction data at scale.

Crater Studios: The company raised an undisclosed amount of venture funding from Two Lanterns Venture Capital in September 2025. The company is an operator of a video game development studio.

Floot: The company raised an undisclosed amount of venture funding from Lombardstreet Ventures in September 2025. The company is a developer of an AI-powered no-code platform designed for building full-featured web applications.

GigPig: The company raised an undisclosed amount of venture funding from Best Nights VC in September 2025. The company is a developer of a live music management platform designed to connect venues and performers.

Kalos: The company raised an undisclosed amount of venture funding from Mayfield Fund in September 2025. The company is a developer of a marketing platform designed to optimize digital advertising campaigns and improve conversion rates.

Optimly: The company raised an undisclosed amount of venture funding from Forum Ventures in September 2025. The company is a developer of an artificial intelligence-powered brand visibility audit tool designed for companies to assess and improve how their brand appears in AI-generated content and conversational search results.

Pronto: The company raised an undisclosed amount of venture funding from Run Ventures on September 2, 2025. The company is a developer of an all-in-one communication platform designed to connect individuals and organizations via chat and video messaging.

Testsigma: The company received an undisclosed amount of development capital from Evolvence India Advisers in September 2025. The company is a developer of an automated testing platform designed to test and develop web and mobile applications.

Virtuoso: The company raised an undisclosed amount of venture funding from Salica Investments in September 2025. The company is a developer of a testing platform designed to reduce the need for manual interventions in testing and quality assurance.

Whoosh: The company received an undisclosed amount of development capital from Aspen Capital Group in September 2025. The company is a developer of a cloud-based software designed to streamline operations and enable member experiences at golf clubs.

MSC Software / Cadence Design Systems: The company, a subsidiary of Hexagon, reached a definitive agreement to be acquired by Cadence Design Systems for an estimated EUR 2.7 billion on September 4, 2025. The company is a developer of simulation software intended to serve the manufacturing, infrastructure, safety and mobility industries.

ProSiebenSat.1 Media / MFE – MediaForEurope: The company reached a definitive agreement to be acquired by MFE – MediaForEurope for EUR 1.8 billion on September 4, 2025. ProSiebenSat 1 Media SE is a German mass media and broadcasting company that offers commercial television stations, paid television channels, and radio networks.

Statsig / OpenAI: The company was acquired by OpenAI for $1.1 billion on September 2, 2025. The company is a developer of digital product testing platform designed to help businesses in decision-making via feature flags and product analytics.

The Browser Company / Atlassian: The company reached a definitive agreement to be acquired by Atlassian for $610 million on September 4, 2025. The company designs and operates a web browser for internet users.

Arrival Artists / ATC Live / Roam: The company was merged with ATC Live to form ROAM on September 2, 2025 for an undisclosed sum. The company is an operator of an independent music and artist booking agency.

Cycle / Atlassian: The company was acquired by Atlassian for an undisclosed amount on September 3, 2025. The company is a developer of a horizontal SaaS platform for product teams that integrates customer feedback and project management into a unified, collaborative workspace to streamline product development and delivery.

Ignition GTM / Klue: The company was acquired by Klue for an undisclosed amount on September 5, 2025. The company is an operator of a marketing platform intended to plan, execute, and measure launch processes.

Join / Stellar: The company was acquired by Stellar for an undisclosed amount on September 2, 2025. The company is an operator of an influencer marketing platform intended to connect influencers, brands, and agencies to collaborate across various markets and verticals.

Lean And Mean Audio / Ross Video: The company was acquired by Ross Video for an undisclosed amount on September 4, 2025. The company is a developer of professional audio production software designed to enhance audio workflows.

OpenPipe / CoreWeave: The company reached a definitive agreement to be acquired by CoreWeave for an undisclosed amount on September 3, 2025. The company is a developer of an AI-based platform designed to turn prompts into inexpensive, fine-tuned models.

Skipr / Pluxee: The company was acquired by Pluxee, a subsidiary of Sodexo, for an undisclosed amount on September 3, 2025. The company is a developer of a corporate mobility SaaS platform that offers businesses a comprehensive solution for managing employee travel and benefits.

Solver / Nvidia: The company was acquired by Nvidia for an undisclosed amount on September 2, 2025. The company is a developer of an AI-powered developer experience platform designed to automate repetitive tasks and improve software development efficiency.

Subset / Rogo: The company was acquired by Rogo for an undisclosed amount on September 3, 2025. The company is a developer of a data automation platform designed to transform financial workflows using an AI spreadsheet editor.

Tobiko Data / Fivetran: The company was acquired by Fivetran for an undisclosed amount on September 4, 2025. The company is a developer of a data operation platform designed to develop open-source transformation software.

Underdog Media / AdMedia.com: The company was acquired by AdMedia.com for an undisclosed amount on September 3, 2025. The company is a provider of digital advertising solutions focused on delivering viewable ad units to online publishers globally.