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Finance

Daily Deals: Mergers and Acquisitions for Oct. 25, 2018

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October 25, 2018, 11:45 AM ET
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Here is the latest news on mergers and acquisitions, funding, investments, and IPOs.

Venture Deals

Algorand, a Boston-based blockchain payments platform, raised $62 million in funding. The investors were not named.

Tado, a Germany-based smart thermostat and AC control maker, raised $50 million in funding. Investors include Amazon, E.ON, Total Energy Ventures, Energy Innovation Capital, Inven Capital, and the European Investment Bank. Read more at Fortune.

Metrc, a Lakeland, Fla.-based provider of regulatory solutions for the cannabis industry, raised $50 million in funding. Tiger Global Management and Casa Verde Capital co-led the round.

Yellowbrick Data, a Palo Alto, California-based provider of analytic solutions for the hybrid cloud, has raised $48 million in Series B funding. Next47 led the round, and was joined by investors including DFJ Growth.

Scale Computing, an Indianapolis-based company focused on edge computing and hyperconverged solutions, raised $34.8 million in Series F funding. Investors include Lenovo.

Innovusion, a developer of LiDAR technology for the autonomous vehicle markets, raised approximately $30 million in Series A funding. Investors include NIO Capital, Eight Roads Ventures, F-Prime Capital, and Gaorong Capital.

Coople, a Switzerland-based operator of an on-demand staffing platform, raised $21 million in funding. Investors include One Peak Partners, Goldman Sachs Private Capital and Harbert European Growth Capital.

Geltor, a San Leandro, Calif.-based bio-design company behind Designer Collagen, raised $18.2 million in Series A funding. Cultivian Sandbox Ventures led the round, and was joined by investors including GELITA and ADM Ventures.

K4Connect, a Raleigh, N.C.-based provider of solutions for older adults and individuals living with disabilities, raised $12 million in Series B funding. AXA Venture Partners led the round.

Wahed Invest, a New York-based robo-advisor, raised $8 million in funding at a $100 million valuation. Investors include Cue Ball Capital and BECO Capital.

Ople, Inc., a Silicon Valley-based artificial intelligence software company, raised $8 million in Series A funding to expand the capabilities of its AI building AI platform. Triage Ventures led the round, and was joined by investors including Hack VC.

Summersalt, the St. Louis based direct-to-consumer swimwear brand, raised $6.1 million in Series A funding. Founders Fund led the round, and was joined by investors including Lewis and Clark Ventures, Revolution’s Rise of the Rest Seed Fund, Dundee Venture Capital, Breakout Capital, Cultivation Capital, Victress Capital, Amplifyher Ventures, M25 and Giuliana and Bill Rancic.

Futrli, a U.K.-based provider of forecasting and reporting solutions for business owners and accountants, raised 4 million pounds ($5.2 million) in Series A funding. Investors include e.ventures, Notion Capital and firstminute Capital.

Neat, a Hong Kong-based provider of mobile current account solutions for underbanked people and companies in Asia, raised $3 million in funding. Linear Capital led the round.

Alpaca, a San Mateo-based fintech startup, raised $3 million in funding. Investors include Global Brain and Archetype.

Promethium, a Menlo Park-based provider of self-service data governance and business intelligence analytics, raised $2.5 million in seed funding. Zetta Venture Partners led the round.

CYR3CON, a Temple, Ariz.-based cybersecurity startup, raised $1.5 million in seed funding. Scout Ventures led the round.

CSPA, a San Francisco-based assessment company that makes a standardized exam for software engineers, raised $1.5 million in seed funding. Investors include Y Combinator, Amino Capital, Sinai Ventures, Ocean IQ Partners, Mehta Ventures, VentureSouq, Pascal Capital, Kutlu Kazanci, Peter Pezaris, Noah Ready-Campbell, Dylan Field, Vincent Shortino, and Yoshio Osaki.

 

Private Equity Deals

Palm Beach Capital made an investment in Blue Team, a Boca Raton, Fla.-based provider of disaster restoration, emergency services and remediation solutions, specifically servicing the commercial sector. Financial terms weren’t disclosed.

Bain Capital Private Equity made an investment in Dealer Tire, a Cleveland, Ohio-based distributor of replacement tire and parts programs for car dealerships. Financial terms weren’t disclosed.

LEARN Behavioral, a portfolio company of LLR Partners, acquired Total Spectrum, an Elmhurst, Ill.-based provider of applied behavior analysis services for families and children with Autism Spectrum Disorder. Financial terms weren’t disclosed.

NexPhase Capital, LP recapitalized Action Behavior Centers, an Austin-based provider of Applied Behavior Analysis therapy for children diagnosed with autism spectrum disorder.

Summer Street Capital Partners LLC made an investment in Coastal Waste and Recycling, a Pompano Beach, Fla.-based solid waste disposal and recycling company. Financial terms weren’t disclosed.

Kar’s Nuts, a portfolio company of Palladium Equity Partners, acquired Morley Candy Makers, a Clinton Township, Mich.-based maker of premium confectionery products sold under the Sanders Fine Chocolatiers brand. Financial terms weren’t disclosed.

Seacoast invested $10 million in DI Overnite LLC, a Cerritos, Calif.-based provider of last-mile logistics, specializing in overnight, same day and scheduled delivery services. Financial terms weren’t disclosed.

Gemspring Capital made an investment in Fiesta Insurance Franchise Corporation, a Las Vegas-based player in the markets for non-standard auto insurance and tax preparation services. Financial terms weren’t disclosed.

 

Other Deals

Unity Technologies agreed to acquire Digital Monarch Media, a Canada-based company centered around virtual cinematography. Financial terms weren’t disclosed.

Cheddar agreed to acquire Rate My Professors, a New York-based website that rates teachers and professors, according to Axios. Financial terms weren’t disclosed.

IPOs

TuanChe, a Beijing-based car marketplace in China, filed for an $150 million “best efforts” IPO. It posted revenue of $42.4 million and loss of $17.1 million in 2017. Maxim Group LLC and AMTD Asset Management are underwriters. It plans to list on the Nasdaq as “TC.” Read more.

YETI Holdings, Austin-based cooler seller, raised $288 million in an IPO of 16 million shares priced at $18, below its $19 to $21 range. BofA Merrill Lynch, Morgan Stanley, and Jefferies are underwriters. It posted revenue of $639 million in 2017 and net income of $15.4 million. The firm initially filed in 2016, and plans to list on the NYSE as “YETI.” Read more.

StoneCo, a São Paulo, Brazil-based online payment processor, raised $1.1 billion in an IPO of 47.7 million shares priced at $24, above its $21 to $23 range. It lost $27.2 million in 2017. Madrone Capital and Tiger Global back the firm. Goldman Sachs, J.P. Morgan, Citi, Itau BBA, Credit Suisse, Morgan Stanley, BofA Merrill Lynch, and BTG Pactual are underwriters. It plans to list on the Nasdaq as “STNE.” Read more.

 

Exits

HelloFresh acquired Chefs Plate, a Toronto-based meal kit provider. Financial terms weren’t disclosed. Chefs Plate had raised approximately $18 million in venture funding from investors including Acton Capital Partners, Emil Capital Partners, BrandProject, and Investeco Capital.

Check Point Software Technologies Ltd. (NASDAQ: CHKP) acquired Dome9, a Tel Aviv, Israel-based developer of a SaaS platform that delivers security and compliance across public cloud infrastructure environments. Financial terms weren’t disclosed. Dome9 raised approximately $30 million in venture funding from investors including Softbank, JAL Ventures, ORR Partners, Opus Capital, and Pinnacle Financial Partners.

 

Firms & Funds

Roark, an Atlanta-based private equity firm, raised a total of $6.5 billion across two new funds. Roark Capital Partners V LP raised $5 billion and Roark Capital Partners II Sidecar LP raised $1.5 billion.

PineBridge Investments, a New York-based investment firm, raised $880 million for its fund, PineBridge Secondary Opportunity Partners.

 

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