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Deals of the day: Zendesk files for IPO

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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April 10, 2014, 2:58 PM ET
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Venture Capital Deals

NuCana Biomed, a British developer of oncology therapeutics, has raised $57 million in Series B funding. Sofinnova Ventures led the round, and was joined by existing backers Sofinnova Partners, Morningside Ventures, Alida Capital and the Scottish Investment Bank. www.nucanabiomed.com

Tendyne Holdings Inc., a Roseville, Minn.-based developer of technologies for transcatheter mitral valve replacement, has raised $25 million in Series C funding led by Apple Tree Partners. www.tendyne.com

Decisyon Inc., a Stamford, Conn.-based provider of a collaborative business intelligence and performance management platform, has raised $22 million in Series B funding. Catalyst Investors led the round. www.decisyon.com 

Fundbox, a San Francisco-based developer of a “data-driven risk engine” that helps accelerate cash flow and clears invoices for small businesses, has raised $17.5 million in VC funding. Khosla Ventures led the round, and was joined by SV Angel, Tom Glocer (ex-Thomson Reuters CEO), Jay Mandelbaum (ex-JPMorgan), Emil Michael (Uber), Schlomo Kramer (Imperva) and David Krell (ISE chairman).www.fundbox.com

Smule, a Palo Alto, Calif.-based mobile developer of music applications and games, has raised $16.6 million in new VC funding. Roth Capital Partners led the round, and was joined by several undisclosed growth equity funds and return backers Bessemer Venture Partners, Granite Ventures and Shasta Ventures. www.smule.com 

GrabTaxi, an an automated smart-phone taxi booking platform in Southeast Asia, has raised an undisclosed amount of VC funding. Vertex Venture led the round, and was joined by Malaysian angel investors. www.grabtaxi.com

Private Equity Deals

Ektron, a Nashua, N.H.-based provider of content management and web experience management software, has raised an undisclosed amount of growth equity funding from Accel-KKR.www.ektron.com

KPS Capital Partners has agreed to acquire Electrical Components International Inc., a St. Louis-based maker of wire harnesses and provider of assembly services for consumer appliance and specialty-industrial applications, from Francisco Partners. No financial terms were disclosed. www.ecintl.com 

Tweddle Group, a Clinton Township, Mich.-based provider of technology and publishing related services to automotive OEMs and their suppliers, has raised an undisclosed amount of private equity funding from Gores Group. www.tweddle.com

Unifrax I LLC, a Tonawanda, N.Y.-based manufacturer of specialty fiber products, has agreed to acquire a 29% stake in Shandong Luyang Share Co. Ltd., a Chinese maker of refractory and insulation materials, from the Nanma Town Collective Asset Management Center of Yiyuan County. No financial terms were disclosed. Unifrax is majority-owned by American Securities LLC.www.english.luyang.com

IPOs

Adamas Pharmaceuticals Inc., an Emeryville, Calif.-based developer of therapeutics for chronic CNS disorders, raised $48 million in its IPO. The company priced 3 million shares at $16 per share (low end of $16-$18 range), for an initial market cap of approximately $263 million. It will trade on the Nasdaq under ticker symbol ADMS, while Credit Suisse and Piper Jaffray served as lead underwriters. The company reports around $50 million of net income on $71 million in revenue for 2013. It had raised over $40 million in VC funding from Mohr Davidow Ventures (30.9% pre-IPO stake), Aeris Capital (16%), DAG Ventures (12%), Northgate Capital (6.3%), Bio*One Capital, EDB Investments, GF Private Equity and Takeda Ventures. www.adamaspharma.com

 

Dance Biopharm Inc., a Brisbane, Calif.-based developer of inhaled insulin products for the treatment of diabetes, has filed for a $75 million IPO. It plans to trade on the Nasdaq under ticker symbol DNCE, with Wells Fargo Securities and Stifel serving as lead underwriters. www.dancebiopharm.com

El Pollo Loco, a Costa Mesa, Calif.-based chain of quick-serve chicken eateries, has picked Jefferies Group and Morgan Stanley to lead its IPO, according to Reuters. The company generated around $307 million in revenue for the year ending June 26, 2013. Shareholders include Trimaran Capital Partnersand Freeman Spogli & Co. www.elpolloloco.com

 

Go Daddy, a Scottsdale, Ariz.-based provider of domain name registration and Web hosting services, has picked Morgan Stanley and J.P. Morgan to lead its IPO, according to the NY Times. The company was taken private for $2.25 billion in 2011 by Silver Lake, KKR and Technology Crossover Ventures. www.godaddy.com

Minerva Neurosciences, a Cambridge, Mass.-based developer of CNS drugs, has filed for a $69 million IPO. It plans to trade on the Nasdaq under ticker symbol NERV, with Jefferies serving as lead underwriter. Shareholders in the pre-revenue company include Index Ventures (42.2% pre-IPO stake), Care Capital (41.2%) and ProteoSys AG (5.7%). www.minervaneurosciences.com

Zendesk Inc., a San Francisco-based provider of an on-demand helpdesk, has filed for a $150 million IPO. It plans to trade on the NYSE under ticker symbol ZEN, with Goldman Sachs, Morgan Stanley and Credit Suisse serving as lead underwriters. The company reports a $22 million net loss on $72 million in revenue for 2013, compared to a $24 million net loss on $38 million in revenue for 2012. Zendesk has raised more than $90 million in VC funding from Charles River Ventures (24.5% pre-IPO stake), Benchmark (18.7%), Matrix Partners (8.8%), Redpoint Ventures, GGV Capital, Index Ventures and Goldman Sachs.
In other Zendesk news, the company this morning announced its acquisition of Zopim Technologies Pte, a Singapore-based provider of live chat software, for an undisclosed amount.www.zendesk.com

Principal Maritime Tankers Corp., a Southport, Conn.-based owner and operator of 12 tankers, has filed for a $100 million IPO. It plans to trade on the NYSE under ticker symbol PMAR, with UBS serving as underwriter. The company is sponsored by Apollo Global Management.

 

M&A

MercadoLibre (Nasdaq: MELI) has agreed to pay $40 million to acquire VMK, a holding company for two Latin American real estate websites. www.mercadolibre.com

Piramal Enterprises (BSE: 500302) has agreed to sell its 11% stake in Vodafone India to Vodafone (LSE: VOD) for $1.48 billion. The move will strengthen Vodafone’s efforts to take control of the Indian business. www.vodafone.com

The Gores Group has sold Norment Security Group, a Montgomery, Ala.-based detention center systems contractor and electronic systems integrator, to Tanner, Ala.-based Cornerstone Detention Products. No financial terms were disclosed.

Universal Music Group has acquired Eagle Rock Entertainment, a London-based music distributor and programmer whose catalog includes work by The Rolling Stones and U2. Sellers includeBeringea and ProVen. No financial terms were disclosed. www.eagle-rock.com

 

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