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iAngels Israeli Deal Digest – February 2020

Welcome to the iAngels Monthly Deal Digest, a summary of corporate developments in the Israeli startup market. This February we tracked 29 announced deals totaling approximately $742 Million, and 7 exits totaling approximately $2.28 Billion.  Life Sciences and PropTech were the two top performing sectors this month. Karius, a life sciences company that is focused […]

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Welcome to the iAngels Monthly Deal Digest, a summary of corporate developments in the Israeli startup market.

This February we tracked 29 announced deals totaling approximately $742 Million, and 7 exits totaling approximately $2.28 Billion

Life Sciences and PropTech were the two top performing sectors this month. Karius, a life sciences company that is focused on conquering infectious diseases through the innovative use of next-generation sequencing to analyze microbial cell-free DNA, closed $165 Million in a series B financing round led by Softbank Vision Fund with participation from aMoon, Data Collective, General Catalyst, HBM, Innovation Endeavors, Khosla Ventures, Lightspeed, Spectrum 28 and Tencent Exploration. Veev, a company that brings an inventive spirit to the construction and real estate development, raised $97 Million in a series B financing round from Eclipse Ventures, Greenspring Associates, Khosla Ventures, Zeev Ventures and Lennar Ventures.

On the M&A side, two large acquisitions were made in the field of Enterprise Software and one large acquisition in the field of Life Sciences. ForeScout, a company that delivers pervasive network security by allowing organizations to continuously monitor and mitigate security exposures and cyber attacks, was acquired by Advent and Crosspoint Capital for $1.9 Billion. CyberX, a company that developed a system that provides protection to networks in factories and industrial control systems by analyzing current activity and anomaly detection through machine learning, was acquired by Microsoft for $150 Million. Further, Simplee, a company that empowers healthcare providers to engage patients as consumers and transform payment into a trusted, self-service experience, was acquired by Flywire for $100 Million.

February 2020 Investment Highlights

A Rounds 

  • Mavrik, a company that developed a fully automated and regulatory compliant treatment delivery platform designed to revolutionize in-office dental therapies, closed $30 Million in a series A financing round led by Ally Bridge Group with participation from Private Investors.
  • Beyond, a cyber security startup in stealth mode, raised $21 Million in a series A financing round from Sequoia Capital and Private Investors.
  • Elementor, an intuitive, front-end site builder for WordPress that allows users to create, design, manage and optimize WordPress websites, collected $15 Million in a series A financing round from Lightspeed and Private Investors. 
  • L1ght, a company that protects children online from harassment, cyberbullying, predatory behaviour and harmful content, received $15 Million in a series A financing round led by Mangrove with help from Tribeca Venture Partners and WTI.
  • Clear, a company that builds blockchain-based networks and applications for frictionless enterprise commerce, closed $13 Million in a series A financing round led by Eight Roads with participation from DTCP Fund, HKT, SingTel Innov8 and Telefonica Innovation Ventures. 
  • Model9, a company that modernizes mainframe data management and business intelligence in large enterprises and helps them accelerate their adoption of hybrid cloud paradigms, models, and benefit from cloud technologies and economies, raised $9 Million in a series A financing round led by Intel capital with help from GlenRock, North First Ventures, StageOne and Log-On Software Ltd.
  • Datree, a company that scans, catalogues and recommends code components in the context of the clients stack, helping developers select the right component for the right job based on the data, collected $8 Million in a series A financing round co-led by Blumberg Capital and TLV Partners with participation from Y Combinator and a Private Investor. 
  • EquityBee, a company that helps startup employees get the money they need to exercise their stock options before they expire, received $6.6 Million in a series A financing round led by Group 11 with help from AltaIR Capital, Battery Ventures and LocalGlobe.  
  • Strattic, a company that converts CMS-based websites into serverless versions, making them faster, scalable and virtually unhackable, closed $6.5 Million in a series A financing round co-led by SignalFire and TenOneTen Ventures with participation with from Accel, Seneca VC, Village, Automattic, Launch It Capital and a Private Investor.  
  • Trellis Legal Intelligence, a company that builds legal intelligence and judicial analytics for law firms, raised $4.4 Million in a series A financing round led by Craft ventures with help from Intrepid Ventures, Okapi Venture Capital, Revel Partners, Sequoia Capital and Private Investors.
  • Yofix, a company that develops and manufactures vegan and soy-free fermented plant-based prebiotic and probiotic foods, collected $2.5 Million in a series A financing round led by Mueller Ventures with participation from Bel Group and LionTree.
  • Wishbox, a personalized guest experience platform that enables property managers to increase sales and improve customer engagement, received $2.5 Million in a series A financing round from BNF Capital and Private Investors. 

B Rounds 

  • Karius, a company that is focused on conquering infectious diseases through the innovative use of next-generation sequencing to analyze microbial cell-free DNA, closed $165 Million in a series B financing round led by Softbank Vision Fund with participation from aMoon, Data Collective, General Catalyst, HBM, Innovation Endeavors, Khosla Ventures, Lightspeed, Spectrum 28 and Tencent Exploration. 
  • Veev, a company that brings an inventive spirit to the construction and real estate development, raised $97 Million in a series B financing round from Eclipse Ventures, Greenspring Associates, Khosla Ventures, Zeev Ventures and Lennar Ventures. 
  • Intuition Robotics, a company that is pioneering the move from digital assistants, Alexa and Siri, to digital companions, rich proactive characters that initiate context-aware, multi-model interactions, collected $36 Million in a series B financing round co-led by OurCrowd and SPARX Group with participation from Bloomberg Beta, Capital Point, Glory Ventures, Happiness Capital, iRobot Ventures, Maniv Mobility, Mirai Creation, Samsung Next, Sompo Holdings, Sumitomo Mitsui Banking Corp, Terra, Toyota AI Ventures, Union Tech Ventures and Wolfpack Ventures. 
  • At Bay, a cyber insurance company that builds risk management products and services that keeps clients safe and enable brokers to provide more insightful coverage analysis and eliminate the need for manual processing, received $34 Million in a series B financing round co-led by Acrew Capital and Munich Re Ventures with help from Cera Fund, Khosla Ventures, Lightspeed, LocalGlobe and Private Investors. 
  • floLIVE, a privately-owned company that provides global, secure, cloud-native loT connectivity solutions to enterprises, mobile operators and cloud providers, raised $21.5 Million in a series B financing round led by 83North with participation from Arie Capital, Golden Sunflower Capital, Saban Ventures Fund, Dell Capital, Qualcomm Ventures and Private Investors.    
  • Wiliot, a fabless semiconductor company that develops passive SoC platforms for the loT market, collected $20 Million in a series B financing round led by Vintage with help from Maersk Growth, NTT DOCOMO Ventures, PepsiCo and Verizon Ventures.   
  • Cherre, a company that provides investors, insurers, real estate advisors, and other large enterprises with a platform to collect, resolve, and augment real estate data from public, private and internal sources, received $16 Million in a series B financing round led by Intel Capital with participation from Bouaziz & Partners, Carthona Capital, Navitas Capital, Recursive Ventures, Sarona Ventures, Zigg Capital and Silicon Valley Bank.
  • Sixgill, a company that specializes in monitoring the deep and dark web by using technology to monitor the web and marketplaces for potential threats that could affect clients, closed $15 Million in a series B financing round co-led by REV Venture Partners and Sonae IM with help from Cognitiv Fund, Elron, Terra and TerraLab Ventures. 
  • DRiiVZ, a global digital software supplier to Electric Vehicle operators and service providers, accelerating the plug-in EV industry’s dynamic and continuous transformation, raised $11 Million in a series B financing round led by Centrica Innovations with participation from Gilbarco Veeder-Root, Inven Capital, Ombu Group and a Private Investor. 
  • ActiView, a HR tech company that specializes in the advancement of recruitment and talent development, by combining the latest cutting-edge technology with scientific research, collected $10 Million in a series B financing round led by a Private Investor with help from other Private Investors. 

C Rounds 

  • K Health, a company that uses data to empower people to make informed health decisions by connecting knowledge to create reliable and relevant health data, raised $48 Million in a series C financing round co-led by 14W and Mangrove with participation from Anthem Health, Bessemer, BoxGroup, Comcast Ventures, Lerer Hippeau Ventures, Max Ventures and Primary Ventures.
  • NeoTX Therapeutics, a biopharmaceutical company that focuses on research and development in oncology immunotherapy, collected $45 Million in a series C financing round  from NDFOS, Starr Ventures, Tako Ventures and Private Investors. 
  • Deep Instinct, a company that applies end-to-end deep learning to cybersecurity by implementing advanced artificial intelligence to the task of preventing and detecting malware, raised $43 Million in a series C financing round led by MTVP with participation from AIC, ATW Partners, Blumberg Capital, Cerracap Ventures, CNTP, Coatue Management, Cushman & Wakefield, HP Tech Ventures, LG Technology Ventures, NVIDIA GPU Ventures, Samsung Ventures, Unbound, US News and UST Global.  
  • OpenLegacy, a company that accelerates delivery of innovative digital services from legacy systems in days versus months, collected $20 Million in a series C financing round from SBI Holdings.
  • temi, a company developing an intelligent, mobile, personal robot for home and office that is capable of recognizing and following its users around, making video calls, playing music or moving small objects from room to room, received $15 Million in a series C financing round led by Joy Capital with help from Crossroad, FengHe, Ogawa, Tung Hing Enterprise and Private Investors.  
  • AllSeated, a company that provides event-planning professionals with technology that enables them to visualize events and collaborate in real time via 3D tools, closed $4.4 Million in a series C financing round led by Liquidity Capital with participation from Magma, Royalty Ventures and Private Investors. 

Growth/Miscellaneous Rounds 

  • Enlivex, a clinical stage immunotherapy company, developing an autologous and allogeneic drug pipeline for immune system rebalancing, raised $8 Million from Undisclosed Institutional Investors.

M&A and IPOs

  • ForeScout, a company that delivers pervasive network security by allowing organizations to continuously monitor and mitigate security exposures and cyber attacks, was acquired by Advent and Crosspoint Capital for $1.9 Billion.
  • CyberX, a company that developed a system that provides protection to networks in factories and industrial control systems by analyzing current activity and anomaly detection through machine learning, was acquired by Microsoft for $150 Million.
  • Simplee, a company that empowers healthcare providers to engage patients as consumers and transform payment into a trusted, self-service experience, was acquired by Flywire for $100 Million.
  • Convexum, a company that pioneers counter-drone solutions protecting perimeters from rogue or malicious drones, was acquired by NSO for $60 Million
  • Exalenz, a company that develops and commercializes advanced systems that extract vital information for diagnostics from subtle changes in the patient’s exhaled breath, was acquired by Meridian Bioscience for $49.4 Million.
  • CreditGuard, a company that provides secured electronic payment transaction solutions for cards, to thousands of clients around the world, was acquired by Max for $20 Million.
  • SuperQuery, a company that develops an optimization engine for serverless BigData services such as Google and Oracle 18c, was acquired by DoiT for $5 Million.

On behalf of everyone at iAngels, I’d like to thank you for tuning in to our deal digest. If you’d like to receive a version directly to your inbox, please subscribe below.

Best,
Massimo

Massimo is an investment associate in the iAngels investment team. He is passionate about technology & innovation and enjoys working alongside entrepreneurs with disruptive business ideas looking to make an impact. At iAngels, Massimo focuses on seed as well as series A, B & C investments and has built special expertise around FinTech, Cybersecurity, Enterprise Software, Environmental Tech, AgriTech and FoodTech.

Source: https://www.iangels.com/2020/03/iangels-israeli-deal-digest-february-2020-2-2-2-2-2-2/

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Intuitive launches new investment division and fund to support healthcare companies

Intuitive, a global technology developer for minimally invasive care and robotic-assisted surgery, has launched an investment division, which includes a $100m fund.

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Intuitive, a global technology developer for minimally invasive care and robotic-assisted surgery, has launched an inves

Source: https://www.altassets.net/private-equity-news/by-news-type/fund-news/intuitive-launches-new-investment-division-and-fund-to-support-healthcare-companies.html

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Veritas Capital holds final close of its debut credit fund

Veritas Capital, a private equity firm focused on technology-enabled companies, has held the final close of its first Credit Opportunities Fund.

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Veritas Capital, a private equity firm focused on technology-enabled companies, has held the final close of its first Credit Opportunities Fund.

The vehicle has pulled in $400m of aggregate committed capital.

Veritas previously secured $6.5bn for its Veritas Capital Fund VII and has also received around $1bn in support for its co-investment division. This has brought the firm’s total capital raised over the past 12 months to $8bn and its total assets under management to $20bn, it claims.

Credit Opportunities Fund will leverage the firm’s highly differentiated deal flow and access to sector insights to embrace the complexity of a maiden fund and “act with conviction and speed.”

The firm believes credit is the natural adjacency for Veritas, due to it already having several credit investments under its belt in the technology and government sectors. It will also allow it to invest across the capital structure to offer tailored solutions.

Veritas Capital CEO and managing partner Ramzi Musallam said, “For over two decades, we have successfully invested in some of the leading, market-critical companies in technology and government across all seven of our private equity funds.

“We launched the Credit Opportunities Fund to expand on that strategy and take advantage of additional opportunities to leverage our strong sector knowledge and experience. The Fund will benefit significantly from our integrated platform and intellectual property, creating a differentiated financing partner with the ability to find highly-customized solutions for the companies in which we invest.”

The investment firm backs technology and technology-enabled solutions within the healthcare, national security, software, education, aerospace & defence, government services, communications, and energy industries.

Earlier in the year, Veritas agreed to buy the healthcare unit of IT and consulting business DXC Technology for $5bn in cash.

Copyright © 2020 AltAssets

Source: https://www.altassets.net/private-equity-news/by-news-type/fund-news/veritas-capital-holds-final-close-of-its-debut-credit-fund.html

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Somerset Capital Management has recruited Min Chen to its China team.

He joins the UK firm from Dymon Asia where he was the portfolio manager of the Prospect View China fund. Chen has previously clocked up experience at RWC and Everest Partners.

He will be based Somerset’s Singapore office, according to fund global China. Chen is also said to be bringing the Prospect fund with him.

“The Prospect View China fund is an important step in the expansion of our Asia business with more China-focused funds expected to be launched in the years ahead,” said Timothy Hay, chief executive of Asia at Somerset Capital.

Copyright © 2020 AltAssets

Source: https://www.altassets.net/private-equity-news/by-news-type/people-news/somerset-expands-china-team.html

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