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iAngels Israeli Deal Digest – November 2019

Welcome to the iAngels Monthly Deal Digest, a summary of corporate developments in the Israeli startup market. This November we tracked 25 announced deals totaling approximately $832m, and 7 exits totaling $2.48bn.  Semiconductors and Enterprise Software were the leading sectors this month. Riskified, an eCommerce fraud management company trusted by hundreds of global brands, raised […]

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

This November we tracked 25 announced deals totaling approximately $832m, and 7 exits totaling $2.48bn

Semiconductors and Enterprise Software were the leading sectors this month. Riskified, an eCommerce fraud management company trusted by hundreds of global brands, raised $165 Million in a growth round led by General Atlantic with the participation of C4 Ventures, Capital One Growth Ventures, Entree Capital, Fidelity, Founder Collective, Genesis, Kreos Capital, NTT DOCOMO Ventures, Pitango Growth, Qumra Capital, T5 Capital and Winslow Capital. In addition, Vayyar Imaging, a global leader in 4D radar imaging technology, providing affordable, highly advanced sensors to a wide variety of industries, raised $109 Million in a growth round co-led by Regal Four and KdTVC with the participation of Amiti Ventures, battery Ventures, Bessemer, ClalTech, Glory Ventures, ICV, ITI Fund, WRVI and a private investor. 

On the M&A side, a large acquisition was made in the MedTech field. Lumenis, a company that has developed minimally-invasive clinical solutions for the surgical, ophthalmology and aesthetic markets was acquired for $1.2 Billion by Baring Private Equity. In addition, two large scale acquisitions were made in the enterprise software field. ECI Telecom, a company that delivers ELASTIC network solutions to service providers, utilities and data center/cloud providers, was acquired by Ashmore Group for $486 Million. Further, Crossix Solutions, a company that has developed technology to enable real-time measurement and optimization of complex, cross-channel media campaigns aimed at patients and healthcare professionals, was acquired by Veeva for $430 Million

November 2019 Investment Highlights

A Rounds

  • DoiT International, a leading provider of proprietary public cloud optimization and operations software and public cloud expertise, raised $100 Million in a Series A financing round from Charlesbank Technology Opportunities Fund. 
  • CyCognito, a company developing a platform that provides organizations with a complete attack surface analysis from a sophisticated attacker’s point of view, raised $18 Million in a Series A financing round led by Lightspeed with the participation of Amiti Fund, BNSG Capital, Sorenson Capital, UpWest and additional private investors. 
  • ZecOps, a startup delivering a realistic take on cyber security with the first agentless cross-platform digital forensics and incident response (DFIR) platform, raised $10 Million in Series A financing from Array Ventures, CEAS Investments, Evolution Equity Partners, Jigsaw, KPN Ventures, Plug & Play, Stormbreaker Venture Group, WISE Ventures and a private investor.  
  • Viisights Solutions, a provider of behavioural understanding systems for real-time video intelligence, raised $10 Million in Series A financing led by Awz HLS with the participation of AltalR Capital, Firstime, LETA Capital, Maxfield Capital and an undisclosed investor. 
  • Coralogix, a company developing open source code and cloud computing, closed $10 Million in Series A funding led by Aleph with the participation of 2B Angels, Janves, Stageone and Taya Ventures. 
  • CreditStacks, a company that offers premium credit cards without the need for SSN or credit history to apply, raised $10 Million in Series A financing led by Strathmore Group with the participation of 500 Startups Fund, Clear Future company, Off the Grid Fund, Plug & Play, VU Venture Partners and private investors. 
  • Refundit, a company whose aim is to revolutionize tax free shopping, making the process easier and more efficient, raised $10 Million in a Series A financing round led by Amadeus Ventures with the participation of Ataria, Portugal Ventures and additional private investors. 
  • Hallura, a company that has developed a novel crosslinking technology, answering the growing demand for natural and soft non-invasive aesthetic treatments, raised $7 Million from private Investors. 
  • Cyber Sepio Systems, a cybersecurity company that uncovers hidden hardware attacks, raised $6.5 Million from EDP Ventures, Hanaco VC, Merlin Ventures, Mindset Ventures and PICO Partners fund. 
  • Track160, a startup that provides an AI solution to the emerging field of sports information analytics, raised $5 Million led by ADvantage Sports Tech Fund alongside with Deutsche Fussball Liga, REDDS Capital and other private investors.  
  • ProteKt Therapeutics, a drug development company aiming to develop potent and selective oral inhibitors of the kinase PKR for the treatment of neurodegenerative and neuroinflammatory diseases, raised $3.6 Million from Bukwang Pharmaceutical, Fonds de Solidarite, FutuRx, Johnson & Johnson, OrbiMedisrael, RMGP Biopharma fund and Takeda Ventures. 

B Rounds

  • Papaya Global, a company that provides enterprises with a global, cloud-based SaaS platform to automate payroll and workforce management, raised $45 Million in a B round led by Insight Partners and with the participation of Bessemer Fund, Dynamic Loop Capital, New Era Capital Partners Fund and numerous private investors. 
  • Cymulate, a company that challenges security controls by initiating thousands of attack simulations, showing exactly where the users are exposed and how to fix it, making security continuous, fast and part of every-day activities, raised $15 Million in a B financing round from Dell Capital, Susquehanna, Vertex Growth, Vertex and a private investor.
  • Perimeter 81, a zero trust network as a service designed to simplify secure network, cloud and application access for the modern and distributed workforce, raised $10 Million in Series B financing led by SonicWall with the participation of JAL Ventures Fund, Spring Ventures and private investors. 
  • Loom Systems, a company that delivers an AIOps-powered log analytics solution, raised $10 Million in a B round led by Flint Capital with the participation of 31Ventures, Global Brain Fund, JVP and Meron Capital fund. 
  • Pcysys, a company that delivers an automated penetration-testing platform that assesses and reduces corporate cybersecurity risks, raised $10 Million led by Awz HLS Fund with the participation of Blackstone Fund and Blum & Blum Investments Fund. 

C Rounds 

  • BigPanda MS, a company that enables enterprise IT to automate and scale service operations to meet the complex demands of the modern datacenter, raised $50 Million in Series C financing led by Insight Partners alongside with Battery Ventures, greenfield Partners, Mayfield Fund, Pelion Fund and Sequoia Israel.
  • Superpedestrian, a transportation robotics company developing core technologies for micro-mobility, raised $20 Million in Series C financing from Empire Angels, General Catalyst, Hanaco VC, OurCrowd and Spark Capital. 
  • Biz-Effective (Centrical), a comprehensive workforce performance management platform using enterprise gamification, raised $13 Million led by Aleph with the participation of 2B Angels, CE Ventures, Eshbol, JVP, La Maison, Shared Ventures, Vernit and Adler chomski Advisory company. 

Growth/Miscellaneous Rounds

  • Riskified, an eCommerce fraud management company trusted by hundreds of global brands, raised $165 Million in a growth round led by General Atlantic with the participation of C4 Ventures, Capital One Growth Ventures, Entree Capital, Fidelity, Founder Collective, Genesis, Kreos Capital, NTT DOCOMO Ventures, Pitango Growth, Qumra Capital, T5 Capital and Winslow Capital.
  • Vayyar Imaging, a global leader in 4D radar imaging technology, providing affordable, highly advanced sensors to a wide variety of industries, raised $109 Million in a growth round co-led by Regal Four and KdTVC in additional participation of Amiti Ventures, battery Ventures, Bessemer, ClalTech, Glory Ventures, ICV, ITI Fund, WRVI and a private investor.
  • BlueVine, a company empowering small businesses with innovative banking solutions, raised $103 Million in a growth round led by ION Crossover Partners Fund with the participation of Citi Ventures, Correlation Ventures, Greylock Israel, Kima Group, Lightspeed Fund, Maor, Menlo Ventures, MUFG Innovation Partners, Nationwide Ventures, OG Tech, Rakuten FinTech Fund, SVB Financial Group, Vintage and a private investor.
  • XACT Robotics, a company pioneering a hands-free robotic system combining image-based planning and navigation with instrument insertion and steering capabilities, to democratize percutaneous interventional procedures, raised $36 Million in a growth round from Chasing Value Asset Management, MEDX Ventures Group and other private investors. 
  • Insights Cyber Intelligence, a company developing an all-in-one external threat protection platform designed to neutralize cyberattacks outside the wire, raised $30 Million led by Qumra Capital with the participation of Blackstone, Blumberg Capital, ClearSky Fund, Glilot Capital, Tola Capital, Vintage, Wipro Ventures and private investors.
  • Venus Concept, a developer and manufacturer of devices for the medical aesthetic market, raised $28 Million from EW Healthcare Partners, HealthQuest Capital, SEDCO Capital and an undisclosed investor.

M&A and IPOs

  • Lumenis, a company that has developed minimally-invasive clinical solutions for the surgical, ophthalmology and aesthetic markets, was acquired for $1.2 Billion by Baring Private Equity. 
  • ECI Telecom, a company that delivers ELASTIC network solutions to service providers, utilities and data center/cloud providers, was acquired by Ashmore Group $486 Million.
  • Crossix Solutions, a company that has developed technology to enable real-time measurement and optimization of complex, cross-channel media campaigns aimed at patients and healthcare professionals, was acquired by Veeva for $430 Million
  • ObserveIT, a company that provides an insider threat management platform, was acquired by Proofpoint for $225 Million.
  • 89bio, a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardio-metabolic diseases, was acquired for $85 Million.
  • Clear Genetics, an iAngels portfolio company that has developed a patient-centric software to thoughtfully integrate genetics into routine patient care, was acquired by Invitae for $50 Million
  • Cymplify Security, a company that has developed a technology for securing Internet devices and finding vulnerabilities, was acquired by CheckPoint 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/2019/12/iangels-israeli-deal-digest-november-2019-2-2-2/

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Private Equity

Boston startups expand region’s venture capital footprint

This year has shaken up venture capital, turning a hot early start to 2020 into a glacial period permeated with fear during the early days of COVID-19. That ice quickly melted as venture capitalists discovered that demand for software and other services that startups provide was accelerating, pushing many young tech companies back into growth […]

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This year has shaken up venture capital, turning a hot early start to 2020 into a glacial period permeated with fear during the early days of COVID-19. That ice quickly melted as venture capitalists discovered that demand for software and other services that startups provide was accelerating, pushing many young tech companies back into growth mode, and investors back into the check-writing arena.

Boston has been an exemplar of the trend, with early pandemic caution dissolving into rapid-fire dealmaking as summer rolled into fall.

We collated new data that underscores the trend, showing that Boston’s third quarter looks very solid compared to its peer groups, and leads greater New England’s share of American venture capital higher during the three-month period.

For our October look at Boston and its startup scene, let’s get into the data and then understand how a new cohort of founders is cropping up among the city’s educational network.

A strong Q3, a strong 2020

Boston’s third quarter was strong, effectively matching the capital raised in New York City during the three-month period. As we head into the fourth quarter, it appears that the silver medal in American startup ecosystems is up for grabs based on what happens in Q4.

Boston could start 2021 as the number-two place to raise venture capital in the country. Or New York City could pip it at the finish line. Let’s check the numbers.

According to PitchBook data shared with TechCrunch, the metro Boston area raised $4.34 billion in venture capital during the third quarter. New York City and its metro area managed $4.45 billion during the same time period, an effective tie. Los Angeles and its own metro area managed just $3.90 billion.

In 2020 the numbers tilt in Boston’s favor, with the city and surrounding area collecting $12.83 billion in venture capital. New York City came in second through Q3, with $12.30 billion in venture capital. Los Angeles was a distant third at $8.66 billion for the year through Q3.

Source: https://techcrunch.com/2020/10/23/boston-startups-expand-regions-venture-capital-footprint/

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Private Equity

Alternative Investments/Real Estate: Housing Market Demand Is “Insane”

Speaking to CNBC on Power Lunch, Glenn Kelman, CEO of real estate brokerage Redfin (NASDAQ: RDFN), said he expected the current boom conditions in the housing market to last well into next year. He attributed the high demand to affluent professionals looking for remote homes as well as low interest rates. Also, he thinks some sellers will put their properties on the market only after the presidential election.

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Alternative Investments/Real Estate: Housing Market Demand Is “Insane”

https://platodata.net/wp-content/uploads/2020/10/alternative-investments-real-estate-housing-market-demand-is-insane.jpg

Redfin CEO Glenn Kelman says the boom could last into next year.

Speaking to CNBC on Power Lunch, Glenn Kelman, CEO of real estate brokerage Redfin (NASDAQ: RDFN), said he expected the current boom conditions in the housing market to last well into next year. He attributed the high demand to affluent professionals looking for remote homes as well as low interest rates. Also, he thinks some sellers will put their properties on the market only after the presidential election. (CNBC)

Kelman: Too good to last forever

“This level of demand is absolutely insane. I would expect it to last into 2021, at least,” Kelman said.

Recent data from the National Association of Realtors shows up the strength in the housing market.

Existing home sales shot up 9.4% in September beating expectations. Even though the median purchase price of a home rose approximately 15% year over year, there is just a 2.7-month supply of for-sale homes, showing tight market inventory conditions.

The 30-year fixed-rate mortgage averaged 2.80% for the week ending Oct. 22, down from 2.81% in the previous week and 3.75% a year ago, according to the Freddie Mac Primary Mortgage Market Survey. Therefore, mortgage rates crept even lower in the latest week.

However, “there’s no way it can last forever,” Kelman warned of the bullish conditions.

Canada: Off the charts

Meanwhile, at the northern neighbor, home sales activity in September is described as “off-the-charts.”

Housing data released by the Canadian Real Estate Association (CREA) last week showed a nationwide year-over-year increase in sales of 45.6%.

This was a new all-time monthly record for the third month in a row.

“This is starting to sound like a broken record (about records being broken), but Canadian home sales and prices set records once again in September … as they did in July and August,” said Shaun Cathcart, senior economist at CREA, in a statement.

Real Estate ETFs in the U.S.

The year-to-date performance of some real estate ETFs is shown below:

iShares U.S. Home Construction ETF (ITB)              +24.61%

SPDR S&P Homebuilders ETF (XHB)                          +20.83%

Vanguard Real Estate Index Fund ETF                      -13.91%

It may be noted that despite the boom conditions in housing, real estate ETFs and stocks have declined in recent days.

According to Barron’s, this may be due to yields on the 10-year and 30-year Treasuries moving higher in recent weeks.

Other reasons could be fears of inflation ticking up in the future amidst an improving economic situation.

Nevertheless, the view is that interest rates are likely to remain low for longer. So demand may remain strong.

“Part of what is fueling this boom is that the economy has just split into two and rich people are able to access capital almost for free, so, of course, they’re going to use that money to buy homes,” said Redfin’s Kelman.

Related Story:   Mortgage Rates Set Another Record Low; Real Estate ETFs Could Benefit

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Source: https://dailyalts.com/alternative-investments-real-estate-housing-market-demand-is-insane/

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Private Equity

Asda’s new owner EG Group seeks new leadership ahead of IPO – report

EG Group is owned by the billionaire Issa brothers and the private equity firm TDR Capital, who teamed up for a £6.8 billion takeover of Asda last month

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UK grocer Asda Group’s new owner EG Group is looking for a new chairman and independent directors as it prepares for a £10bn initial public offering, The Timesreports.

EG Group is owned by the billionaire Issa brothers and the private equity firm TDR Capital, who teamed up for a £6.8 billion takeover of Asda last month.

The move comes after Deloitte resigned last week as the company’s auditor because of concerns over the group’s governance and lack of internal controls, according to the publication.

A decision on candidates will be taken before the end of this year, although roles haven’t been finalised yet as the company is in the process of deciding whether to float in the UK or the US, The Times reports.

Write to Barcelona editors at barcelonaeditors@dowjones.com

From Dow Jones Newswires

Source: https://www.penews.com/articles/asdas-new-owner-eg-group-seeks-new-leadership-ahead-of-ipo-reports-20201023

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