Innovation

Coverdash: Embedded Business Insurance Agency Company Raises $13.5 Million

By Amit Chowdhry ● Mar 1, 2024

Coverdash - one of the fastest-growing startups and SMB-focused insurtech companies - announced $13.5 million in Series A funding. This funding round comes within one calendar year of Coverdash’s oversubscribed Seed round, bringing the company’s total funding to $16 million.

Why Summit Is Buying Deft

By Amit Chowdhry ● Feb 29, 2024

Summit - one of the largest providers of virtual servers and cloud-based application hosting in the U.S. and Canada - announced it has acquired Deft, which is a comprehensive provider of data center and managed cloud services.

USC And Techstars Partnering On Accelerating Opportunities For Students, Faculty, And Alumni

By Amit Chowdhry ● Feb 29, 2024

The University of Southern California and Techstars will work together on accelerating opportunities for USC-affiliated entrepreneurs, including students, faculty and alumni. And USC will spark new startups and innovation under a new collaboration with Techstars, a leading pre-seed investor.

Why Ginkgo Bioworks Is Buying Patch Biosciences

By Amit Chowdhry ● Feb 29, 2024

Ginkgo Bioworks - a company that is building the leading platform for cell programming and biosecurity - announced the acquisition of Patch Biosciences. Patch Biosciences has built an AI platform for sequence design that enables more effective, specific, and durable genetic medicines and was backed by Andreessen Horowitz (a16z) Bio + Health, Casdin Capital, and S32. This acquisition is intended to strengthen Ginkgo's Gene Therapy Services, Cell Therapy Services, and RNA Therapeutics Services.

Gradial: $5.4 Million Raised To Build AI Solutions For Helping Marketing Teams Deliver Better Experiences

By Amit Chowdhry ● Feb 29, 2024

Gradial has announced $5.4 million seed funding led by Madrona with participation from General Advance, Outsiders Fund, and Space Capital. And Gradial is building AI solutions to help marketing teams deliver better digital experiences and enable more time and resources for creative strategy.

Why Accenture Song Is Buying Mindcurv

By Amit Chowdhry ● Feb 29, 2024

Accenture has agreed to acquire Mindcurv, a cloud-native digital experience and data analytics company specializing in composable software, digital engineering, and commerce services for more than 200 clients worldwide. And through this acquisition, Accenture Song—the world’s largest tech-powered creative group—further expands its commerce services for clients globally. The terms of the deal from private equity investment firms Genui and Primepulse were not disclosed.

Redi Health Raises $140 Million In Round Led By Blue Heron Capital

By Amit Chowdhry ● Feb 29, 2024

Blue Heron Capital (an early-stage growth equity firm) has announced its investment in Redi Health, a digital health innovator poised to transform patient support services. And this strategic investment is core to Blue Heron's philosophy of identifying and supporting companies that not only show potential for growth but also address pressing needs within healthcare and technology sectors experiencing meaningful transformation.

Why Atlas Energy Solutions Is Buying Hi-Crush In $450 Million Deal

By Amit Chowdhry ● Feb 29, 2024

Atlas Energy Solutions announced that it has entered into a definitive agreement with Hi Crush to acquire all of Hi-Crush’s Permian Basin proppant production assets and North American logistics operations in a transaction valued at $450 million.

Clarifai Names Chris Kent As SVP Marketing

By Amit Chowdhry ● Feb 29, 2024

Clarifai - a global leader in AI development and a pioneer of the full-stack AI platform - announced that Chris Kent will join as SVP of Marketing as Clarifai expands into more enterprises, enabling them to build and operationalize AI faster. Kent brings decades of marketing and category creation experience to Clarifai - which has spent ten years perfecting its capabilities to enable teams to build AI in minutes (not months) and unlock value instantly.

Why RadNet Is Buying Houston Medical Imaging

By Amit Chowdhry ● Feb 29, 2024

RadNet - a national leader in providing high-quality and cost-effective outpatient diagnostic imaging services - announced that it has signed a definitive agreement to purchase the assets of seven imaging centers in the greater Houston, Texas metropolitan area from Houston Medical Imaging, LLC. And upon the closing of the acquisition - which is anticipated to occur during the Q2 2024 - RadNet will be entering its first new market since 2020. The deal is subject to customary closing conditions.

Emigrant Names Liz Nesvold As Vice Chair

By Amit Chowdhry ● Feb 29, 2024

Emigrant announced the appointment of Liz Nesvold as Vice Chair of Emigrant Bank. Nesvold has served the wealth management industry for over 30 years as a passionate advisor, investment banker, and executive. A proud advocate and mentor for women in financial services, Nesvold was described by Mergers & Acquisitions magazine as the most experienced female investment banker serving the investment management and securities industry and was recognized with the M&A Advisor's Leadership Award in 2021, in addition to being acknowledged as a Woman to Watch by InvestmentNews in 2019.

Ocean Avenue Capital Partners Closes Oversubscribed Fund V At $600 Million Hard Cap

By Amit Chowdhry ● Feb 29, 2024

Ocean Avenue Capital Partners (a private equity fund manager founded in late 2010 focusing on lower middle market and special situations investment opportunities sourced through independent sponsors) has held the final closing of Ocean Avenue Fund V, L.P. (Fund V). And Fund V was oversubscribed and closed at its hard cap of $600 million in limited partner capital commitments.

Why Big Lift Is Buying ePicker

By Amit Chowdhry ● Feb 29, 2024

Big Lift recently announced that it completed the acquisition of ePicker, a fast-growing material-handling equipment provider based in Fort Worth, Texas. Since its launch in 2021, ePicker has built an impressive network of industry-leading material handling distributors that market its portfolio of electric pallet jacks, stackers, access vehicles, and lithium-ion-powered forklifts to customers across North America.

Range Energy: $23.5 Million Raised To Bring Electric Powered Trailers To Commercial Trucking

By Amit Chowdhry ● Feb 29, 2024

Range Energy - a hardware company bringing electric-powered trailers to the commercial trucking market - announced $23.5 million in new funding led by Phillip Sarofim’s Trousdale Ventures, with participation from UP.Partners, R7, and Yamaha Motor Ventures. And Range will use this fresh capital to accelerate its work on customer pilot programs in parallel with advancing towards full-scale production of its electric-powered trailers, essential to decarbonizing commercial fleets under pressure to meet emerging emissions reduction targets.

Drips Holdings Raises Growth Capital From CIBC Innovation Banking

By Amit Chowdhry ● Feb 29, 2024

CIBC Innovation Banking announced that it has provided growth financing to Drips Holdings. This Akron, Ohio-based conversational outreach company helps organizations orchestrate large-scale 1:1 conversations precisely at critical moments in the customer journey. And Drips plans to utilize the financing to bolster product development and facilitate expansion into diverse industry verticals within U.S. markets.

BlueBean: Procure To Pay Solution Company Secures $1.3 Million

By Amit Chowdhry ● Feb 29, 2024

BlueBean - an all-in-one procure-to-pay solution - announced its launch with $1.3 million in capital. Tola Capital led this funding round, and partner Aaron Fleishman joined as a board member. Created in 2023 by procurement expert and former Coupa Software VP Fabrice Saporito, BlueBean helps businesses manage expenses.

Pelage Pharmaceuticals: Clinical-Stage Regenerative Medicine Company Secures $16.75 Million

By Amit Chowdhry ● Feb 28, 2024

Pelage Pharmaceuticals - a clinical-stage regenerative medicine company pioneering a new generation of treatments for hair loss - announced that the company has closed a $16.75 million Series A financing led by GV with participation from Main Street Advisors, Visionary Ventures, and YK BioVentures to advance a first-in-class treatment for androgenetic alopecia or pattern baldness, and other types of alopecia including chemotherapy-induced hair loss.

Exodigo: $105 Million Raised To Modernize Underground Mapping

By Amit Chowdhry ● Feb 28, 2024

Exodigo - an AI-based innovator modernizing underground mapping - announced the closing of a $105 million Series A round, converting $30 million previously secured in SAFEs, for a total of $118 million in funding since launching in 2022.

Photoroom: AI Photo Editor Company Secures $43 Million

By Amit Chowdhry ● Feb 28, 2024

Photoroom - a rapidly growing AI photo editor - announced it has successfully closed a $43 million Series B funding round. The funding round - which was led by previous investor Balderton Capital and new investor Aglaé with YCombinator participating, brings Photoroom's total funding to $64 million.

Axiom Cloud: $5 Million Raised To Advance Deployment Of Refrigerant Leak Detection Software

By Amit Chowdhry ● Feb 28, 2024

Axiom Cloud announced closing $5 million in funding from Toshiba Tec and Windsail Capital Group. This funding round aims to accelerate the deployment of the company's AI-powered "Early Leak Detection" (ELD) module, which detects refrigerant leaks earlier without requiring any new onsite hardware or sensors. Axiom Cloud's technology and services will be especially vital as facilities move to comply with recently announced EPA regulations outlined in the American Innovation and Manufacturing (AIM) Act, which restrict commercial emissions of Hydrofluorocarbons (HFCs) through refrigerant leaks and other sources.

Lapse: Gen-Z Focused Photo Sharing App Company Secures $30 Million

By Amit Chowdhry ● Feb 28, 2024

Lapse - a friends-focused photo-sharing app inspired by the experience of disposable cameras - announced it has closed an oversubscribed $30 million Series A round. The funding - which was co-led by Greylock and DST Global Partners, preeminent investors in the Internet technology sector, existing investors GV (Google Ventures), Octopus Ventures, and Speedinvest returned to participate alongside high-profile angel investors Naveen Gavini (former Chief Product Officer at Pinterest), Soleio (designer and investor), Nima Khajehnouri (former VP of Engineering at Snap), and Praveen Murugesan (former Director of Engineering at Uber).

HALO: Subscription-Based Bodycam And Cloud-Based Digital Asset Company Raises $20 Million

By Amit Chowdhry ● Feb 28, 2024

HALO - a leading subscription-based bodycam and cloud-based digital asset management platform - announced it closed a $20 million Series A funding round from Boston-based growth equity firm Volition Capital. This investment follows rapid company growth fueled by demand for HALO's all-in-one subscription technology that protects people and safeguards businesses.

World View: Stratospheric Exploration And Flight Company Raises Strategic Round Led By SNC

By Amit Chowdhry ● Feb 28, 2024

World View - a leader in stratospheric exploration and flight - announced the successful opening and initial funding of a Series D round. The funding round was led by SNC, a renowned leader in innovative technology solutions and open architecture integrations within the aerospace and national security sectors.

Roshal Health: $10 Million Raised To Provide On-Demand Ultrasound And Echocardiogram Services

By Amit Chowdhry ● Feb 28, 2024

Roshal Health - a new leader providing hospital grade, on-site, and on-demand ultrasound and echocardiogram services to ERs, micro-hospitals, rural hospitals, and hospital offsite facilities - announced that it secured $10 million in financing. This structured equity funding was led by Catalio Capital Management, a leading multi-strategy healthcare and life science investment firm, with participation from Green Street Impact Partners.

Elevated Signals: Modern Manufacturing Software Company Raises C$7.9 Million

By Amit Chowdhry ● Feb 28, 2024

Elevated Signals - a company pioneering modern manufacturing software - announced that it has secured C$7.9 million in Series A funding.

Glean: AI-Powered Work Assistant Company Secures Over $200 Million At $2.2 Billion Valuation

By Amit Chowdhry ● Feb 28, 2024

Glean - an AI-powered work assistant making waves among CIOs under pressure to quickly and securely deploy generative AI in the enterprise – announced it has raised over $200 million in Series D funding at a $2.2 billion valuation.

SimpleClosure: $4 Million Raised To Help Entrepreneurs Shut Down Companies

By Amit Chowdhry ● Feb 28, 2024

SimpleClosure - a company that offers easier ways to shut down a business - announced it has raised $4 million in seed funding just months after the company’s pre-seed round. This funding round was led by Infinity Ventures, with strong participation from Anthemis Group, Foxe Capital and existing investors. And a variety of new angel investors joined the round, including executives from leading software companies like Deel and Intuit, and partners at top venture firms.

Intenseye: AI-Powered Workplace Safety Solutions Company Secures $64 Million

By Amit Chowdhry ● Feb 28, 2024

Intenseye – a leader in AI-powered workplace safety solutions – announced it secured $64 million in series B funding led by new investor Lightspeed Venture Partners with participation from existing investors Insight Partners, Point Nine, and Air Street Capital. And this latest funding round is the industry's largest ever.

Myko AI: $2.7 Million Raised To Build Conversational AI For Sales Data

By Amit Chowdhry ● Feb 28, 2024

Myko – a conversational AI for sales and revenue team data - announced it has secured $2.7 million in seed capital from Khosla Ventures to reach new customers and expand its offerings. This funding round also included participation from Zero Knowledge Ventures, DayDream Ventures, the AngelList Early-Stage Quant Fund, and others.

Why Sandvik Is Buying Cimquest

By Amit Chowdhry ● Feb 28, 2024

Sandvik announced it had signed an agreement to acquire Cimquest, a US-based reseller of Computer Aided Manufacturing (CAM) solutions and one of the largest resellers in the Mastercam network.