Innovation

FlowGPT: Open Ecosystem AI Platform Closes $10 Million In Funding

By Amit Chowdhry ● Feb 27, 2024

FlowGPT - an inclusive platform fostering an open ecosystem for AI application creators and the community - announced it had raised $10 million in a Pre-Series A round.

Kiavi: $350 Million Revolving Securitization Of Residential Transition Loans Closed

By Amit Chowdhry ● Feb 27, 2024

Kiavi - a leading capital provider to residential real estate investors - announced it closed an approximately $350 million unrated securitization of residential transition loans (RTLs). This is Kiavi's 16th transaction under its LHOME shelf, bringing the company's total issuance to $4 billion+ in offered notes since its securitization program began in 2019.

Agiliti Being Taken Private By THL Partners In $2.5 Billion Deal

By Amit Chowdhry ● Feb 27, 2024

Agiliti - a nationwide provider of medical technology management and service solutions to the healthcare industry - announced that it has entered into a definitive merger agreement under which an affiliate of private equity firm Thomas H. Lee Partners, L.P. (THL), the company’s majority shareholder, will acquire all outstanding shares of Agiliti common stock not currently owned by THL and its affiliates and certain management shareholders for $10 per share in cash, implying an enterprise value of approximately $2.5 billion.

Valesco Industries Investing In Blower Application

By Amit Chowdhry ● Feb 27, 2024

Valesco announced it closed its first platform investment out of Valesco Fund III. Based in Germantown, WI, Blower Application, LLC (BloApCo) manufactures and designs solid waste and scrap handling systems and processing equipment, primarily for corrugated box and packaging plants and the retail distribution industry.

SeventySix Capital Promotes Chad Stender To Managing Partner

By Amit Chowdhry ● Feb 27, 2024

SeventySix Capital - the venture capital company that invests in early-stage sports, media, and entertainment companies - announced Chad Stender was promoted to Managing Partner along with SeventySix Capital’s Founder, Wayne Kimmel. Stender and Kimmel will have the title of Managing Partner and the shared responsibility of running the investment company.

Addionics Investing $400 Million Into U.S. Manufacturing Facilities

By Amit Chowdhry ● Feb 27, 2024

Addionics - a provider of next-generation battery technologies - announced a planned $400 million investment into its U.S. manufacturing facilities as part of a multi-year roadmap to support domestic EV battery production.

Why Modine Is Buying Scott Springfield Manufacturing

By Amit Chowdhry ● Feb 27, 2024

Modine (a diversified global leader in innovative thermal management and ventilation solutions) announced that it had entered into a definitive agreement to acquire Scott Springfield Manufacturing, a leading manufacturer of air handling units (AHU).

Why ServiceNow Is Buying The Atrinet NetACE Network Technology

By Amit Chowdhry ● Feb 27, 2024

ServiceNow - a leading digital workflow company making the world work better for everyone - announced it has signed an agreement to acquire NetACE network management and automation technology from Atrinet to accelerate business transformation for telecommunications companies (telcos). And once re-platformed into the ServiceNow platform, Atrinet’s NetACE technology will enable comprehensive, end-to-end network lifecycle management for telcos on a single, AI-first digital workflow platform.

LeoLabs Names Commercial Space Executive Tony Frazier As New CEO

By Amit Chowdhry ● Feb 27, 2024

LeoLabs - a leading provider of integrated solutions that persistently monitor activity in space to reveal threats to safety and security - announced Tony Frazier has been appointed as its new CEO. Frazier will lead LeoLabs as it scales to become a critical mission partner for combined military space operations and next-generation space safety systems.

GoldenTree Asset Management Closes $449 Million CLO Under GLM Strategy

By Amit Chowdhry ● Feb 27, 2024

GLM III, LP and its affiliated investment manager GoldenTree Asset Management LP announced the closing of a $449 million collateralized loan obligation (CLO) to be managed by GLM III. And with the closing of this CLO, GoldenTree Loan Management US CLO 19, GoldenTree has issued 25 CLOs totaling over $14 billion under its GLM CLO strategy.

Hospitality Management Company Montage International Raises Strategic Investment

By Amit Chowdhry ● Feb 27, 2024

Montage International - a premier hospitality management company founded by Alan J. Fuerstman - announced it has received a strategic investment arranged by Luxor Capital Group. Along with investments by affiliate funds of Luxor, the investment group comprises significant commitments from funds managed by Goldman Sachs Asset Management and funds and accounts managed by BlackRock.

Ares Management Special Opportunities Team Joining The Global Credit Group

By Amit Chowdhry ● Feb 27, 2024

Ares Management announced that its Special Opportunities strategy, currently a business within its Private Equity Group, will be joining the firm’s Credit Group and named Opportunistic Credit. Moving from the strategy to the Credit Group is expected to enable greater collaboration across the Ares platform, enhancing benefits to Ares’ limited partners, sponsor partners, and portfolio companies.

NLX Raises $12 Million To Transform How AI Powers Customer Experiences

By Amit Chowdhry ● Feb 27, 2024

NLX – a company that is transforming the way AI powers customer experiences for large and enterprise brands - announced it has raised $12 million in Series A funding, led by Cercano and joined by Thayer Ventures and HL Ventures. Initial investors IAG Capital Partners, JetBlue Ventures, and Tech Square Ventures' Engage also contributed to this new round of funding.

mTab: Market Insights Platform Raises $15 Million

By Amit Chowdhry ● Feb 27, 2024

mTab - a leading market insights platform and a portfolio company of Milestone Partners - announced the closing of a $15 million growth credit financing by Kayne Anderson Growth Capital. And the latest funding comes as the company further accelerates its growth and global expansion to support more customers in new industries, along with advanced technology enhancements to its platform.

Why AtlasClear Is Buying Technology Assets from Pacsquare Technologies

By Amit Chowdhry ● Feb 27, 2024

AtlasClear Holdings announced its acquisition and initiation of the integration into its operations of clearing and settlement code from Pacsquare Technologies. Following the closing of the business combination between AtlasClear and Quantum FinTech Acquisition Corporation, AtlasClear entered into and consummated an acquisition agreement with Pacsquare for front and middleware applications as contemplated by a previously disclosed letter of agreement between AtlasClear and Pacsquare.

Eigen Labs: $100 Million Raised From Andreessen Horowitz

By Amit Chowdhry ● Feb 27, 2024

Eigen Labs is a research organization that contributes to protocols that supercharge innovation on Ethereum. The company recently announced it raised $100 million in funding from Andreessen Horowitz’s a16z crypto.

Palo Alto Networks: Private 5G Security Solutions With Partner Ecosystem Launched

By Amit Chowdhry ● Feb 27, 2024

Palo Alto Networks announced end-to-end private 5G security solutions and services in collaboration with leading Private 5G partners. Combining Palo Alto Networks enterprise-grade 5G Security and Private 5G partner integrations and services allows organizations to easily deploy, manage, and secure networks throughout the entire 5G journey.

EVject Names Judi Storey As New Chief Executive Officer

By Amit Chowdhry ● Feb 27, 2024

EVject - an electric vehicle (EV) safety accessory company - has welcomed Judi Storey as Chief Executive Officer (CEO). With a background in executive management as a former CTO, COO, and CXO, Storey is well suited to assume this leadership role within EVject.

Why kSARIA Is Buying Charles E. Gillman Company

By Amit Chowdhry ● Feb 27, 2024

kSARIA (a leading producer and supplier of mission-critical connectivity solutions for the aerospace and defense end markets and a portfolio company of Behrman Capital) announced that it has acquired Charles E. Gillman Company. The financial terms of the transaction were not disclosed.

Frontier Medicines: Oversubscribed $80 Million Funding Round Raised To Support Progress of Clinical-Stage Pipeline

By Amit Chowdhry ● Feb 27, 2024

Frontier Medicines - a precision medicine company seeking to unlock the proteome to advance transformational therapies against otherwise undruggable disease-causing targets - announced the closing of an oversubscribed $80 million Series C financing. The funding was co-led by Deerfield Management Company and Droia Ventures, with significant participation from Galapagos NV (Euronext & NASDAQ: GLPG) as a strategic investor and contributions from new and existing investors, including DCVC Bio, MPM Capital, and RA Capital Management. This Series C funding brings the total capital raised since Frontier’s founding to $235.5 million.

Baseimmune: $11.3 Million Closed To Use AI For Predicting Future Pathogen Mutations To Generate Novel Vaccines

By Amit Chowdhry ● Feb 27, 2024

Baseimmune - a biotech company that uses proprietary and deep learning AI to predict future pathogen mutations to generate novel vaccines - announced the close of $11.3 million [£9 million] in Series A funding led by new investors MSD Global Health Innovation Fund and IQ Capital, with participation from existing investors including Hoxton Ventures, Creator Fund, Beast Ventures and Maki.vc.

Prowler: Open Cloud Security Company Raises $6 Million

By Amit Chowdhry ● Feb 27, 2024

Prowler - a leader in open cloud security – announced it secured a $6 million seed funding round led by Decibel VC. The company will use funds raised to expand the engineering, sales, and marketing teams, improve operations, and drive greater product innovation.

Why Jasper Is Buying Clipdrop From Stability AI

By Amit Chowdhry ● Feb 27, 2024

Jasper - one of the world's biggest generative AI app companies - announced that it had agreed to acquire Clipdrop, an AI image creation and editing platform, from Stability AI. And this acquisition signifies a significant step forward in Jasper's capacity to deliver the most comprehensive, multimodal copilot for enterprise marketing teams.

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

By Amit Chowdhry ● Feb 27, 2024

Intenseye - a leader in AI-powered workplace safety solutions - announced it raised $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. This latest funding round is the industry's largest ever.

Why Resilience Is Buying BreachQuest

By Amit Chowdhry ● Feb 26, 2024

Leading cyber risk management firm Resilience announced it expanded its capabilities through the acquisition of BreachQuest, an innovative incident response technology solution. These are the details.

Horizon Capital: $350 Million Ukraine Fund IV Closed At $350 Million

By Amit Chowdhry ● Feb 26, 2024

Horizon Capital - a leading U.S. private equity firm - announced that its latest Ukraine-focused fund Horizon Capital Growth Fund IV has reached $350 million in commitments at its Final Closing held in Tokyo on February 19, 2024, boosting AUM to $1.6 billion. And the Kyiv-based firm exceeded its initial target size of $250 million by 40%, while also concluding three attractive investments during the fundraising process.

Synadia: Edge-Native Messaging Company Raises $25 Million

By Amit Chowdhry ● Feb 26, 2024

Synadia Communications - the creators and maintainers of NATS.io (NATS), the open-source cloud and edge-native messaging system for high-performance data streaming - announced it has closed a $25 million Series B financing round. Led by Forgepoint Capital, this investment round includes participation from existing investors and new investors Singtel Innov8, LDVP and 5G Open Innovation Lab. And Forgepoint Managing Director Ernie Bio will join Synadia's board of directors.

Tuned: Digital Hearing Health Company Closes $3.2 Million Seed Extension

By Amit Chowdhry ● Feb 26, 2024

Tuned - a digital hearing health company providing preventive and comprehensive hearing health for employers - announced it secured an oversubscribed $3.2 million seed extension led by Unum Group, with participation from Distributed Ventures. And Tuned's latest round brought the total funds raised to $8.2 million, signaling strong investor confidence in the company’s mission to make comprehensive hearing care a cornerstone of competitive employee health benefits.

Radiology Partners: $720 Million Growth Equity Investment Closed

By Amit Chowdhry ● Feb 26, 2024

Radiology Partners (RP) - a leading radiology practice in the U.S. through its owned and affiliated practices - announced it has completed a series of previously announced financing transactions. And as a part of these actions, RP closed a growth equity investment of about $720 million, completed an exchange offer for its existing notes and finalized an amendment to its outstanding credit facilities.

Conservation Labs: $7.5 Million In Series A Funding Raised In Round Led By RET Ventures

By Amit Chowdhry ● Feb 26, 2024

Conservation Labs - an AI company that developed a groundbreaking platform that decodes audio data into actionable insights in the built environment to reduce carbon emissions and energy and water usage - announced that it had raised a $7.5-million Series A funding round. This funding round was led by RET Ventures’ Housing Impact Fund and included the participation of Sustain VC.