Archives

CredibleMind: Mental Wellbeing Company Raises $7.5 Million (Series A)

By Amit Chowdhry ● Nov 4, 2024

Mental wellbeing company CredibleMind announced it raised $7.5 million in Series A funding, led by Horizon Mutual Holdings - a key partner in advancing access to integrated and personalized mental health support for diverse populations. And with this funding, CredibleMind will continue its mission to dismantle barriers to effective mental health support and empower individuals to flourish through accessible, personalized mental wellbeing solutions.

Andium: Remote-Field Monitoring And Communications Company Raises $21.7 Million (Series B)

By Amit Chowdhry ● Nov 4, 2024

Andium - an expert in Industrial Internet of Things (IIoT) remote-field monitoring and communications technologies - announced a $21.7 million Series B funding close led by Aramco Ventures (the corporate venture arm of one of the world's largest integrated energy and chemicals companies). This round includes existing investors such as Climate Investment, Intrepid Financial Partners, and prominent individual investors, including former Citadel CIO Thomas Miglis. Following the company's $15 million Series A in 2021, this funding brings the company's total funding to over $40 million.

Alethea: Over 3X Revenue Tripled This Year

By Amit Chowdhry ● Nov 4, 2024

Alethea, a technology company focused on disinformation detection and mitigation, announced tremendous business growth in 2024. It tripled its revenue since closing its Series B, led by GV, with participation from Ballistic Ventures less than a year ago.

Neara: AI-Based Predictive Modeling Company Raises $31 Million (Series C)

By Amit Chowdhry ● Nov 4, 2024

Neara, an AI-based predictive modeling software platform for critical infrastructure, announced a $31 million Series C funding round. The funding round was anchored by a consortium led by EQT, with participation from Partners Group (one of the largest firms in the global private markets industry1) and Square Peg Capital (one of the company's earliest investors), with additional support from existing investors Skip Capital and Prosus Ventures.

Greenridge Growth Partners: Fund II Closed At $255 Million

By Amit Chowdhry ● Nov 4, 2024

Greenridge Growth Partners - a private equity firm that invests in growing bootstrapped software companies - announced it has raised its second fund with $255 million in new capital commitments. And Greenridge Growth Partners II, L.P. was significantly oversubscribed and closed within one year of launch.

AvenCell: Clinical-Stage Cell Therapy Company Raises $112 Million (Series B)

By Amit Chowdhry ● Nov 4, 2024

AvenCell Therapeutics - a leading clinical-stage cell therapy company focused on advancing both autologous and allogeneic switchable CAR-T cell therapies - announced that it has raised $112 million in Series B funding. Global life sciences investor Novo Holdings led the funding.

mPATH Health: $3 Million Raised To Improve Cancer Screening

By Amit Chowdhry ● Nov 4, 2024

mPATH Health, a digital health company dedicated to improving cancer screening, announced the closing of $3 million in funding. This funding will accelerate the company's mission to enhance cancer prevention and improve health equity. This funding round includes a $2 million Small Business Technology Grant from the National Cancer Institute (NCI) and a $1 million equity investment led by Oncology Ventures, an oncology-focused venture capital firm.

Top Down Ventures: First Closing Of $25 Million Founders Fund I

By Amit Chowdhry ● Nov 4, 2024

Top Down Ventures, a venture capital firm founded by industry visionary Chris Day, announced the first closing of its $25 million Founders Fund, designed for fueling early-stage SaaS companies within the Managed Service Provider (MSP) sector.

Conflux Technology: Heat Transfer & Additive Manufacturing Company Raises $11 Million (Series B)

By Amit Chowdhry ● Nov 4, 2024

Conflux Technology, a leading heat transfer and additive manufacturing (AM) company, announced a $11 million Series B funding round to further technology development and increase customer support worldwide. Breakthrough Victoria led the round, which was also participated in by AM Ventures and Acorn Capital.

LPL Onboards $800 Million Dougherty, Tedesco & Associates Advisors Team

By Amit Chowdhry ● Nov 4, 2024

LPL Financial announced that the financial advisors at Dougherty, Tedesco & Associates have joined LPL Financial’s broker-dealer, RIA and custodial platforms. And they reported serving about $800 million in advisory, brokerage and retirement plan assets, and join LPL from Osaic.

Mubadala Capital: Private Equity Fund IV Closed With $3.1 Billion In Commitments

By Amit Chowdhry ● Nov 4, 2024

Mubadala Capital - a wholly owned alternative asset management subsidiary of Mubadala Investment Company - announced the closing of its fourth private equity fund MIC Capital Partners IV, securing total commitments of $3.1 billion. This surpasses its initial target size of $2 billion.

KdT Ventures: Fund IV Closed At Over $100 Million

By Amit Chowdhry ● Nov 4, 2024

KdT Ventures announced the closing of its oversubscribed fourth fund (Fund IV), raising over $100 million to support early-stage, science-driven companies. And Fund IV is the firm’s largest fund to date, and follows KdT’s previous $80 million Fund III which was announced in 2022. The firm’s total assets under management now exceed $250 million.

Vinted: Second-Hand Fashion-Focused Marketplace Company Raises Funding At €5 Billion Valuation

By Amit Chowdhry ● Nov 3, 2024

Vinted, a Europe-based leading second-hand C2C marketplace focused on fashion, announced it has closed a secondary share sale of €340 million at a valuation of €5 billion. Other major investment funds including Hedosophia, Baillie Gifford, Invus Opportunities, FJ Labs, Manhattan Venture Partners, and Moore Strategic Ventures also participated. And all of Vinted's existing institutional investors remain invested in the company.

University Of Michigan: ‘Looking To Michigan’ Campaign Aims For $7 Billion Raise

By Amit Chowdhry ● Nov 3, 2024

The University of Michigan announced its most innovative fundraising campaign to date, intending to raise $7 billion. This is the largest effort in its history and the largest known campaign goal of any public university.

Raymond James Onboards $1.3+ Billion FA Melinda Johnston

By Amit Chowdhry ● Nov 3, 2024

Raymond James recently onboard financial advisor Melinda Johnston to the firm’s employee advisor channel Raymond James & Associates (RJA) in Fort Worth, Texas. Edward Sudzina, Western Gulf regional director for RJA, revealed this announcement.

Waverly Advisors Buys $1 Billion Advisory Firm 9258 Wealth Management

By Amit Chowdhry ● Nov 3, 2024

Waverly Advisors, a federally registered investment adviser (RIA) that specializes in investment management, financial planning and wealth management solutions for a diverse group of high-net-worth individuals, corporate retirement plans and institutional clients, acquired 9258 Wealth Management, an investment advisory firm and tax preparation and planning business headquartered in Cincinnati, Ohio. This partnership adds three Ohio-based office locations to Waverly’s growing footprint and $1 billion in assets under management (AUM).

Oxla: Distributed Analytical Database Company Closes $11 Million (Seed)

By Amit Chowdhry ● Nov 3, 2024

Oxla - a high-performance distributed analytical database designed from the ground up for large-scale data processing - announced it raised $11 million in seed funding. And Oxla reinforced its status as a global company by completing its transition from a Polish domicile to US legal incorporation in Delaware, a strategic move aimed at strengthening its international presence and facilitating further growth.

Aignostics: $34 Million (Series B) Raised To Turn Complex Pathology Data Into Transformative Insights

By Amit Chowdhry ● Nov 3, 2024

Aignostics - a global AI company that turns complex multi-modal pathology data into transformative insights - announced that it has raised $34 million in Series B financing. This additional funding will be used for building new product offerings for biopharmaceutical clients, driving growth within the US and developing leading foundation models for pathology in collaboration with the Mayo Clinic. This oversubscribed funding round was led by ATHOS, with investments from Mayo Clinic and growth financing from HTGF, along with support from existing investors Wellington Partners, Boehringer Ingelheim Venture Fund, CARMA Fund, and VC Fonds Technologie managed by IBB Ventures.

Sierra: Conversational AI Company Raises $175 Million At $4.5 Billion Valuation

By Amit Chowdhry ● Nov 3, 2024

Sierra, a conversational AI company founded by former Salesforce co-CEO Bret Taylor, announced it raised $175 million in funding led by Greenoaks Capital. ICONIQ and Thrive Capital contributed to this new funding round. This funding round valued Sierra at $4.5 billion, more than quadrupling its $1 billion valuation in January.

NEPC: Hightower Acquires Majority Investment

By Amit Chowdhry ● Nov 3, 2024

Hightower announced it will acquire a majority interest in NEPC, a leading investment consultant and outsourced chief investment officer (OCIO). Combining under a common parent company will enable each organization - NEPC and Hightower Advisors (one of the country’s leading RIAs) - to expand their commitments to clients to deliver institutional-quality investment solutions and research-driven advice.

Modern Wealth Buys $1.4 Billion RIA Petso Financial And Surpasses $6 Billion AUM

By Amit Chowdhry ● Nov 3, 2024

Modern Wealth Management—a registered investment advisory (RIA) firm founded to meet the evolving needs of today’s financial professionals and their clients—announced the acquisition of Boise, Idaho-based Petso Financial Consultants, a fee-only financial advisory firm with about $1.4 billion in assets under management (AUM). This deal is Modern Wealth’s eleventh acquisition to date and its sixth of the year, bringing its total AUM to over $6 billion.

Detectify: Majority Stake Acquired By Insight Partners

By Amit Chowdhry ● Nov 3, 2024

Detectify - an Attack Surface Management platform for AppSec teams powered by elite ethical hackers - announced that global software investor Insight Partners has acquired a majority stake in the company. The deal involved securing funding to accelerate product innovation and drive profitable growth.

Primergy: $350 Million Closed For Ash Creek Solar Project

By Amit Chowdhry ● Nov 2, 2024

Primergy Solar - a leading developer, owner, and operator of utility-scale solar and energy storage projects - announced it closed commitments for $350 million in tax equity financing for the 408 MWac Ash Creek Solar project in Hill County, Texas.

JPalmer Collective: Asset-Based Lending Company Raises $72 Million

By Amit Chowdhry ● Nov 2, 2024

JPalmer Collective (JPC), an asset-based lending company committed to funding high-growth women-led and natural products companies, announced a series of deals raising $72 million in gross proceeds. And the capital consists of a strategic combination of financing, including a senior revolving credit facility provided by Texas Capital Bank, a mezzanine credit facility from a New York-based institutional alternative asset manager, and a common equity infusion.

Pip Care: Surgical Optimization Company Raises $5 Million (Series A)

By Amit Chowdhry ● Nov 2, 2024

Pip Care, a company that optimizes the surgical journey for care teams and patients, announced a Series A raise of $5 million in equity funding. The funding round was led by A1 Health Ventures, with participation from existing investor UPMC Enterprises.

Acuity Buying QSC In $1.215 Billion Deal

By Amit Chowdhry ● Nov 2, 2024

Market-leading industrial technology company Acuity Brands announced it has reached a definitive agreement to acquire QSC for a purchase price of $1.215 billion - or $1.1 billion net of approximately $100 million in the present value of expected tax benefits. This net purchase price represents approximately 14 times QSC’s estimated EBITDA for the last twelve months ending August 31, 2024. It is expected to be accretive to Acuity’s’ fiscal 2025 full-year adjusted diluted earnings per share.

HEN Nozzles: $8 Million (Seed) Raised To Transform Fire Suppression Technology

By Amit Chowdhry ● Nov 2, 2024

HEN Nozzles, a leader in firefighting innovation, announced it secured $8 million in seed funding to accelerate its fluidics technology. This seed round has been supported by several venture capital and strategic angel investors, including O'Neil Capital Partners, Cthulhu Ventures, Z21 Ventures, TiE Silicon Valley Angels, Sacramento Angels, and Shasta Angels.

B. Riley: $236 Million Brand Asset Deal Completed

By Amit Chowdhry ● Nov 2, 2024

B. Riley Financial announced it and its subsidiary bebe stores have completed a deal for their brand assets yielding approximately $236 million in cash proceeds to B. Riley.

Parsons Acquiring BCC Engineering For $230 Million

By Amit Chowdhry ● Nov 2, 2024

Parsons will acquire BCC Engineering (a Florida-based transportation engineering firm) for $230 million in cash. BCC (owned by Trivest Partners) offers planning, design, and management services for projects in Florida, Georgia, Texas, South Carolina, and Puerto Rico. This deal boosts Parsons’ infrastructure presence in the Southeastern U.S. and aligns with its strategy of buying high-growth companies with over 10% revenue growth and strong EBITDA margins.

Kirkland & Ellis: H.T. Flanagan Named As Debt Finance Partner

By Amit Chowdhry ● Nov 2, 2024

Kirkland & Ellis announced that H.T. Flanagan will join the firm as a partner in the Debt Finance Group. Flanagan advises private credit funds, alternative lenders, and other investors on traditional private credit financings and bespoke capital solutions. He also counsels such credit-oriented investors on direct originations, secondary market opportunities, complex inter-creditor issues, and novel structured capital investments.