BETA: The Capitalization Report v20.02.13


RHC MIT Alumni SPV

Sponsored Ad by RHC7 with goal of MIT alumni co-investing through SPVs.

EDITORS NOTE: Today we focus on recent SaaS deals.  Here are the keywords for us today: SaaS, SaaSWorks, Rimilia, Talage, Powell Software, EquityBee, Spectrum Equity, Morgan Stanley Capital Partners, Kleiner Perkins, KKR Global Impact Fund SCSp

SAAS DEAL FLOW

  • SaaSWorks, a Boston, MA-based company that delivers operational solutions for scaling SaaS businesses, raised $5m in funding.  The round was led by Conversion Venture Capital with participation from unnamed SaaS CEOs, CFOs and executives.
  • Talage, a Reno, Nevada-based SaaS-based digital insurance platform, raised $5 million in Series A funding. Merus Capital led the round and was joined by investors including Calibrate Ventures, WTI and Hallador Investment Advisors. 
  • Rimilia, a U.K.-based SaaS-based fintech company, raised $15 million in funding. Investors include Eight – Roads Ventures, Kennet Partners, and Silicon Valley Bank.
  • Attentive, a personalized mobile messaging SaaS platform for brands, raised $70 million in Series C funding. Sequoia and IVP co-led the round and were joined by investors including Eniac Ventures and NextView Ventures.
  • SimScale, a Germany-based provider of a SaaS application for engineering simulation, today raised €27 million ($29.8 million) in Series C funding. Insight Partners led the round and was joined by investors including Earlybird, Union Square Ventures, June Fund, Vito Ventures, Bayern Kapital, and High-Tech Gründerfonds. 
  • Powell Software, a digital workplace, and intranet SaaS software provider raised $16 million in funding. Level Equity and Cap Horn co-led the round
  • Partnerize, a U.K.-based SaaS partner automation platform, raised $50 million in funding. Accel-KKR led the round.

FUNDS WE KNOW (KNEW)

  • Apax Partners agreed to acquire Cadence Education, a Scottsdale, Ariz.-based provider of early childhood education in North America, from Morgan Stanley Capital PartnersFinancial terms weren’t disclosed. 
  • Nova Credit, a cross-border consumer credit reporting startup, raised $50 million in funding. Kleiner Perkins led the round and was joined by investors including Canapi Ventures and existing investors Index Ventures, General Catalyst, Nyca Partners, Sound Ventures, Alex Rodriguez and U2 guitarist the Edge.
  • Headspace, a global leader in mindfulness and meditation, today announced it raised a total of $93 million in its Series C funding round. The round was led by blisce/, with participation from Waverley Capital and Times Bridge – the global investments and partnerships arm of The Times Group of India – and existing investors The Chernin Group, Spectrum Equity, and Advancit Capital. The new funding includes $53 million of equity from participating investors and $40 million of debt capital from Pacific Western Bank.
  • EquityBee, a Los Angeles-based startup that helps employees with stock options funding, raised $6.6 million in funding. Group11 led the round and was joined by investors including Battery Ventures and LocalGlobe.
  • Snowflake, a San Mateo, Calif.-based cloud-based data warehouse company, raised $479 million at a $12.4 billion valuation. Dragoneer Investment Group led the round and was joined by investors including Salesforce Ventures, Altimeter Capital, ICONIQ Capital, Madrona Venture Group, Redpoint Ventures, Sequoia Capital, and Sutter Hill Ventures.
  • Cherre, a New York-based real estate data, and analytics platform, raised $16 million in funding.  Intel Capital led the round and was joined by investors including Navitas Capital, Carthona Capital, Zigg Capital, Dreamit Ventures, and Silicon Valley Bank.
  • Worlds, a Dallas-based spatial AI company spun out of Hypergiant Sensory Sciences, raised $10 million in Series A funding.  Align Capital led the round and was joined by investors including Chevron Technology Ventures, PIVA, and Hypergiant Industries.

OTHER NEWS OF INTEREST

  • KKR, a New York-based global investment firm, raised $1.3 billion for its KKR Global Impact Fund SCSp.
  • Global bank Citi launched a $150m impact fund designed to make equity investments in private sector companies that have a positive impact on society
  • Praetorian, an Austin-based cybersecurity company, raised $10 million in Series A funding. Investors include Bill Wood Ventures and McKinsey & Company.

PRESS RELEASE PICKED BY EDITOR

KKR Closes $1.3 Billion Global Impact Fund, Fund to Invest in Solutions-Oriented Businesses, February 12, 2020 07:00 AM Eastern Standard Time

NEW YORK–(BUSINESS WIRE)–KKR, a leading global investment firm, today announced the final closing of KKR Global Impact Fund SCSp (“KKR Global Impact” or the “Fund”), a $1.3 billion fund dedicated to investment opportunities in companies whose core business models provide commercial solutions to an environmental or social challenge.

Read More: https://www.businesswire.com/news/home/20200212005060/en/

BETA: The Capitalization Report v20.01.24.0733P


Banner Puzzel

The Capitalization Report by JDM

JDM will be speaking, attending, or hanging at the bar (or spa) at the following cities:

  1. ACG Sky trip (Sunday to Tuesday)
  2. Capital Conference LA (Wed 30)
  3. Mastermind in Mexico (Thur until ?)
  4. NYC (Feb 3-4)

I will be in Atlanta, Austin, LA (Beverly Hills),  Dallas (Highland Park), Key West (most of Feb),  and other fun places most of February 2020!

20/20 Clear Vision in 2020,

JDM you Host for The Capitalization Report

DEALS JDM (RHC) LOVES

  1. Global payments technology company Mastercard (NYSE: MA) is to acquire RiskRecon, a Salt Lake City, Utah-based provider of artificial intelligence and data analytics solutions to support companies in protecting their cyber systems and infrastructure (RHC loves FinTech),
  2. Docket, an Indianapolis-based software-as-a-service (SaaS) platform for managing intelligent meetings, raised $1.5M in seed funding (RHC invest in the AI/SaaS).
  3. Denali Water Solutions, a Russellville, Ark.-based organic residuals management company, has agreed to be acquired by TPG Growth from The Firmament Group. Financial terms weren’t disclosed (RHC knows TPG).
  4. AvidXchange, a Charlotte, N.C.-based provider of accounts payable and payment automation solutions for the middle market, raised $260 million in funding. TPG Sixth Street Partners led the round. (RHC knows TPG and love FinTech).
  5. Snyk, a London-based security company, raised $150 million in funding at a valuation of more than $1 billion. Stripes led the round and they were joined by investors including Accel, Coatue, Tiger Global, BoldStart, GV, Canaan, Trend Forward, Amity and Salesforce Ventures. (RHC knows Tiger Global and Salesforce Ventures).
  6. Life House, a New York-based tech-enabled lifestyle hotel company, raised $30 million in Series B funding. Thayer Ventures led the round and was joined by investors including Tiger Global, JLL Spark, and Sound Ventures. (RHC know Tiger Global and invest in hotel companies).
  7. Intezer, a New York-based cybersecurity company, raised $15 million in Series B funding. OpenView led the round and was joined by investors including Intel Capital, Magma, Samsung NEXT, a USAA affiliate, and Alon Cohen. (TM know cybersecurity),

DEALS TCR LOVES

  1. Practis, a Charlotte, NC-based digital marketing and SaaS software solutions company catering to independent healthcare providers, received a private equity investment of undisclosed amount Genea, an Irvine, CA-based SaaS (software as a service) company, acquired Sequr, Inc., a cloud-based physical access control company (RHC loves SaaS),
  2. Punch List, a San Francisco-based mobile app that helps independent contractors and homeowners complete home remodel, raised $4 million in funding. Investors include Bling Capital, Bedrock Capital, Ludlow Ventures, Mayfield Capital, and Jack Dorsey, Steve Chen, and Eric Wu.  (JDM love the name and idea),
  3. Front, a San Francisco-based developer of a collaborative work email platform, raised $59 million in Series C funding. Atlassian co-CEO and co-founder Mike Cannon-BrookesAtlassian President Jay Simons; Okta COO and co-founder Frederic Kerrest; Qualtrics co-founders Ryan and Jared Smith; and Zoom CEO Eric Yuan co-led the round and were joined by investors including Sequoia Capital, Initialized Capital, and Anthos Capital. (JDM loves co-CEO / co-founder),
  4. Kneron, a San Diego-based on-device edge artificial intelligence, raised $40 million in funding. Horizons Ventures led the round. (JDM loves San Diego),
  5.  Memphis Meats, a San Francisco-based company that grows meat from animal cells, raised $161 million in Series B funding. SoftBank Group, Norwest and Temasek co-led the round and were joined by investors including Richard Branson, Bill Gates, Threshold Ventures, Cargill, Tyson Foods, Finistere, Future Ventures, Kimbal Musk, Fifty Years, CPT Capital, KBW Ventures and Vulcan Capital (JDM knows (1 to 3 degrees) Vulcan Capital, Softbank Group, Richard Branson, Bill Gates (all 1 to 3 degrees),
  6. Tink, a Sweden-based open banking platform, raised €90 million ($99.8 million) in funding. Dawn Capital, HMI Capital, and Insight Partners co-led the round and were joined by investors including Heartcore Capital, ABN AMRO Ventures and BNP Paribas’ venture arm, Opera Tech Ventures.
  7. Sayari Labsa Washington D.C.-based data intelligence company, raised $9 million in Series B funding. Arsenal Growth led the round and was joined by investors including Lavrock Ventures and SAPs National Security Services (NS2) Ventures.
  8. Docket, an Indianapolis-based software-as-a-service (SaaS) platform for managing intelligent meetings, raised $1.5M in seed funding
  9. Palo Alto, California-based VMware, Inc. (NYSE: VMW), an enterprise software company, completed the acquisition of Pivotal Software, Inc., a cloud-native platform provider
  10. HyperPay, a Riyadh, Saudi Arabia-based payment processing company, closed an 8-digit funding round
  11. AInnovation, a Beijing, China-based AI solutions provider, closed a Series B financing round of nearly 400m yuan (approx. US$60m)
  12. Ruangguru, a Jakarta, Indonesia-based online education platform, raised $150m in Series C funding
  13. Bill.com (NYSE: BILL), a Palo Alto, CA-based provider of cloud-based software that automates back-office financial operations, debuted on the public market today ringing the opening bell on the New York Stock Exchange
  14. Morphio, a Toronto, Canada-based AI platform for digital marketers, closed a $1M seed funding round

RHC-01