Archives

Overworld: Game Studio Company Closes $10 Million In Seed Funding

By Amit Chowdhry ● Feb 16, 2024

Overworld – a game studio company that is building high-quality, cross-platform multiplayer RPGs – announced it has closed a seed round of $10 million, led by Hashed along with The Spartan Group, Sanctor Capital and Galaxy Interactive, with notable participation from Hashkey, Big Brain Holdings and Foresight Ventures, to accelerate development on a multiplayer role-playing experience enhanced with digital collectibles.

Hippo Harvest: Controlled Environment Agriculture Company Raises $21 Million

By Amit Chowdhry ● Feb 16, 2024

Hippo Harvest - a controlled environment agriculture (CEA) startup developing advanced greenhouse systems that produce sustainably grown produce - announced the closing of its $21 million Series B funding round led by Standard Investments. And Congruent Ventures, Amazon's Climate Pledge Fund, Hawthorne Food Ventures, and Energy Impact Partners also joined the round. This funding round will scale the company's greenhouse operations and expand its product offerings into new categories of leafy greens.

Rasa: Generative Conversational AI Company Raises $30 Million

By Amit Chowdhry ● Feb 16, 2024

Rasa (a leading generative conversational AI platform) announced the completion of its $30 million Series C funding round, co-led by StepStone Group and PayPal Ventures, with participation from Andreessen Horowitz (a16z), Accel, and Basis Set Ventures.

Latigo Biotherapeutics: $135 Million Raised To Develop Non-Opioid Pain Medicines

By Amit Chowdhry ● Feb 16, 2024

Latigo Biotherapeutics (a clinical-stage biotechnology company developing best-in-class non-opioid pain medicines that target pain at its source) announced its emergence from stealth with a $135 million Series A financing. Westlake Village BioPartners incubated the company. And Westlake led the Series A financing with 5AM Ventures and Foresite Capital as co-leads with participation from Corner Ventures.

Architect Financial Technologies: $12 Million Funding Raised For Expanding Derivatives Brokerage And Trading Technology

By Amit Chowdhry ● Feb 16, 2024

Architect Financial Technologies (an emerging leader in derivatives brokerage services and trading technology) announced it has closed a $12 million capital raise. And with the completion of the new round, the company raised $17 million since its inception in January 2023.

Document Crunch: Construction Contract Intelligence Company Raises $9 Million

By Amit Chowdhry ● Feb 15, 2024

Document Crunch (the construction industry’s leading contract intelligence platform) announced it has raised a Series A funding round of $9 million.

Timoneer Strategic Partners Acquiring Majority Stake In Solid Restoration: Details

By Amit Chowdhry ● Feb 15, 2024

Timoneer Strategic Partners (a private equity firm based in Los Angeles and Charlotte) announced it has acquired a majority ownership stake in Solid Restoration. Solid Restoration – which was founded by Brett Soliday in 1996 and headquartered in Escondido, CA - is a leading restoration service provider focused on insurance-based residential and commercial water and fire damage mitigation, restoration and repair, mold remediation, and other related services.

Vimly Benefit Solutions Raises Strategic Investment From Rubicon Technology Partners

By Amit Chowdhry ● Feb 15, 2024

Vimly Benefit Solutions (a leader in the benefits administration space) announced it has secured a strategic majority investment from Rubicon Technology Partners, a private equity firm based in Boulder, Colorado that is focused exclusively on investing in and growing software companies.

Bold: Payment Services Provider Secures $50 Million

By Amit Chowdhry ● Feb 15, 2024

Bold (a financial technology company enabling access to electronic payments in Colombia) announced that it had raised $50 million in Series C funding led by existing investor General Atlantic, with participation from the International Finance Corporation (IFC), a member of the World Bank Group. And existing investors InQLab and Amador also participated in the round. With this new funding, Bold plans to bolster its product roadmap and offerings and continue its focus on business expansion while deepening its position as a leading merchant acquirer in Colombia.

Sibli Closes $4.5 Million In Funding To Transform Investment Research Processes With AI

By Amit Chowdhry ● Feb 15, 2024

Launched by a team of AI and finance experts, Sibli's unique IP, built using cutting-edge generative AI and utilizing large language models (LLMs), enables asset managers to gain an information advantage over their peers, and transforms their investment research processes, and improve performance.

Skylo Technologies: Direct-To-Device Satellite Company Closes $37 Million

By Amit Chowdhry ● Feb 15, 2024

Skylo Technologies – a leading direct-to-device satellite connectivity service provider - announced that it has secured $37 million in funding co-led by Intel Capital and Innovation Endeavors. The company’s new investors include BMW i Ventures, Next47, Samsung Catalyst Fund and Seraphim Space. And David Johnson of Intel Capital joins the board, bringing a wealth of experience and insight to fortify Skylo's leadership team.

Perigon Wealth Management Acquires Prudeo Partners, A Firm With About $425 Million In Total Client Assets

By Amit Chowdhry ● Feb 15, 2024

Perigon Wealth Management (a rapidly growing independent wealth management firm with offices across the country and approximately $6.9 billion as of January 31, 2024 in client assets) announced the acquisition of Prudeo Partners (a wealth management firm with offices in Reading, Pennsylvania and West Columbia, South Carolina with approximately $425 million in total client assets). The terms of the deal were undisclosed.

Bain Capital Credit Reveals $2 Billion Of Financing Investments In 2023

By Amit Chowdhry ● Feb 15, 2024

Bain Capital Credit, L.P. (a leading global credit specialist) announced that the firm’s Private Credit Group invested about $2 billion to support the growth of middle market and private equity-backed companies last year. Bain Capital Credit’s Private Credit Group invested in 58 businesses across 34 industries last year, supporting the refinancing, leveraged buyout, and add-on acquisition activity of both new and existing portfolio companies. With experience investing in middle-market private debt dating back to 1998, the Private Credit Group has invested over $22 billion across more than 475 portfolio companies since its inception.

Blackstone Invests In Drive-Thru Beverage Business 7 Brew

By Amit Chowdhry ● Feb 15, 2024

Blackstone announced that Blackstone Growth and affiliated funds have made a growth equity investment in 7 Brew Coffee, the next-generation drive-thru beverage business. And Blackstone’s investment seeks to help enable 7 Brew to accelerate its already-rapid expansion across the U.S., in collaboration with its premier franchise partners.

Northeastern University And Open 6G OTIC Collaborating With AT&T And Verizon As Testing Facility For ACCoRD Framework

By Amit Chowdhry ● Feb 15, 2024

The Open6G Open Testing and Integration Center (OTIC) at the Institute for the Wireless Internet of Things (WIoT) at Northeastern University will partner with AT&T and Verizon as a neutral testing facility in the Acceleration of Compatibility and Commercialization for Open RAN Deployments Consortium (ACCoRD) framework. ACCoRD was selected to receive $42.3 million in funding from the U.S. National Telecommunications and Information Administration (NTIA) through the Public Wireless Innovation Fund.

cPacket: $67 Million Raised From Morgan Stanley Expansion Capital And Trinity Capital

By Amit Chowdhry ● Feb 15, 2024

cPacket Networks announced the successful completion of a $67 million transaction, including a primary and secondary equity investment by funds managed by Morgan Stanley Expansion Capital and a debt refinancing by Trinity Capital. The involvement of these investors in this difficult market reflects positively on the company’s performance, strategic positioning, and exciting market opportunity.

Why Perforce Is Buying Delphix

By Amit Chowdhry ● Feb 15, 2024

Perforce Software (a provider of solutions to enterprise teams requiring productivity, visibility, and scale along the development lifecycle backed by Francisco Partners and Clearlake Capital Group, L.P.) announced that it has signed a definitive agreement to acquire Delphix. The financial terms of the deal were undisclosed.

Dechert Expanding Private Credit And Leveraged Finance Capabilities With Eliot L. Relles As Partner

By Amit Chowdhry ● Feb 15, 2024

Dechert LLP announced the addition of Eliot L. Relles as a partner in its corporate and securities practice group, enhancing the firm’s capabilities in leveraged finance and private credit. Relles will be based in the firm’s New York office.

Värde Committed $1.3 Billion In Asset-Based Private Credit Transactions In 2023

By Amit Chowdhry ● Feb 15, 2024

Värde Partners (a leading global alternative investment firm specializing in credit and credit-related assets) announced that it committed $1.3 billion across its asset-based lending and diversified private credit platform in 2023. And these investments facilitated approximately $9 billion of commercial and consumer loans in North America and Europe.

Why Motorola Solutions Is Buying Silent Sentinel

By Amit Chowdhry ● Feb 15, 2024

Motorola Solutions announced it has acquired Silent Sentinel, a provider of specialized, long-range cameras based in Ware, United Kingdom.

Cotiviti: Recapitalization With KKR And Veritas

By Amit Chowdhry ● Feb 15, 2024

Cotiviti (a leading healthcare data and technology business) announced that the company has entered into a definitive agreement to recapitalize the business with affiliates of its long-standing partner Veritas Capital, a leading investor at the intersection of technology and government, and investment funds managed by KKR, a leading global investment firm.

Tulane University Partnering With Archer Education To Drive Online Growth Enablement

By Amit Chowdhry ● Feb 15, 2024

Tulane University has signed a strategic partnership with Archer Education to bolster online growth enablement. This collaboration will concentrate on advancing Tulane's internal marketing, enrollment, and retention capabilities, aiming to centralize and strengthen its online operations in-house.

Tuckahoe Acquiring Leading Industrial Equipment Company Gateway Dealer Network

By Amit Chowdhry ● Feb 15, 2024

Tuckahoe Holdings (a family-run diversified holding company) announced the acquisition of Gateway Dealer Network (GDN), a prominent provider of industrial equipment, from Brightstar Capital Partners (a middle-market private equity firm). And GDN CEO John Hopper and the senior management team are expected to continue to lead the company moving forward. The terms of the deal were undisclosed.

Sapience Analytics Raises Funding From Kayne Anderson Growth Capital

By Amit Chowdhry ● Feb 15, 2024

Sapience Analytics (a global leader helping enterprises optimize capacity management with automated workforce analytics) announced a large new growth investment from Kayne Anderson Growth Capital. The demand for workforce data that is automated, unbiased, and accurate is key for companies to operate efficiently and cost-effectively in a post-pandemic world.

Blue Alliance Raises Strategic Investment From Prairie Capital

By Amit Chowdhry ● Feb 15, 2024

Blue Alliance (a fast-growing, operator-led MSP collective) announced that it had completed a growth recapitalization transaction with Prairie Capital, a proven firm in scaling companies across various industries. And Prairie Capital's investment will enable Blue Alliance to accelerate its growth strategy and offer more MSP owners an alternative to the standard agreement and the opportunity to be part of a strong, supportive community focused on scaling and shared success. Blue Alliance will continue operating independently within the Prairie portfolio.

CVC Credit Prices Apidos XLVII CLO At $507 Million

By Amit Chowdhry ● Feb 15, 2024

CVC Credit - a $43 billion dedicated credit strategy of CVC - announced that it has successfully priced Apidos XLVII (47), a $507 million (c.€471 million) Collateralized Loan Obligation (CLO). And BNP Paribas acted as the lead arranger.

University Of Maryland Selects HPE Aruba Networking For Wireless Access Points And Wired Switches

By Amit Chowdhry ● Feb 15, 2024

The University of Maryland (UMD) has selected the HPE Aruba Networking ESP (Edge Services Platform) networking solution by Hewlett Packard Enterprise. And the campus-wide deployment includes Wi-Fi 6E wireless access points (APs) and CX wired switches (powered end-to-end by AI insights).

Why Salesloft Is Buying Drift

By Amit Chowdhry ● Feb 15, 2024

Salesloft (a provider of one of the first AI-powered Revenue Orchestration Platforms) announced the acquisition of Drift, the buyer experience and Conversational AI company. And the combination of Salesloft and Drift enables companies to orchestrate a personalized, omnichannel buyer journey powered by AI, providing an optimal buying experience that drives higher quality pipeline and revenue outcomes.

Slack Launches AI Bot To Help Users Stay On Top Of Threads

By Amit Chowdhry ● Feb 15, 2024

Slack announced it has started to roll out Slack AI, which is a secure and intuitive AI experience that will put you a step ahead during your workday. And the company is starting with a set of initial generative capabilities.

Artie: $3.3 Million Raised For Solving Database Replication

By Amit Chowdhry ● Feb 15, 2024

Artie announced it had closed a seed round of $3.3 million to make database replication real-time, reliable, and cost-effective. Exponent Founders Capital led the funding round with participation from General Catalyst, Y Combinator, and angel investors, including Benn Stancil, Lenny Rachitsky, and Arash Ferdowsi.