After another busy week GE has acquired Melbourne startup Daintree Networks for a reported AUD$100 million, while Experian has acquired identity theft company CSIdentity for $360 million. Spanish Uber competitor Cabify has raised $120 million in a Series C round, Medium has raised $50 million just a few months after its last raise, and Acorns has raised $30 million. Closer to home Plattar raised $1.1 million in a seed round led by News Corp Australia, Hava raised $500,000 from Blackbird Ventures, Bugcrowd raised $19 million, and Fame and Partners raised $10.2 million.
Mergers & Acquisitions
GE’s digital power service Current has acquired Australian startup Daintree Networks, a provider of building control solutions for commercial facilities, for a reported $100 million. GE said the acquisition will allow Current to expand its building automation platform and ‘energy-as-a-service’ offering to small and medium sized facilities.
Derek Proudian, CEO of Daintree Networks said, “Daintree has been in the enterprise Industrial Internet space for a long time, so we are excited to join Current in bringing customers an enhanced lighting and energy management solution that can be applied to a wide range of buildings and workspaces including retail stores, banks and office environments. Through this integration, we will help our customers achieve the promise of the Industrial Internet: greater control, lower maintenance costs and increased operational efficiencies.”
Austin-based CSIdentity, a provider of identity theft protection services, has been acquired by credit reporting agency Experian in a $360 million deal. Experian said the acquisition of the company will expand its presence in the identity protection market, estimated to be worth $1.16 billion in the US alone.
TechCrunch reports that eBay Enterprise, which eBay sold off to a consortium of investors including global ecommerce fulfillment firm Innotrac last year, has merged with Innotrac to become Radial, “the largest omnichannel commerce technology and operations provider.” Radial will be across every step of the retail lifecycle, from order management to payments, fulfillment and customer care.
Hava, an Australian startup that helps clients visualise and monitor their cloud architecture and environments, has raised $500,000 from Blackbird Ventures in a seed funding round.
Melbourne startup Plattar, a cloud-based platform that allows users to create, manage, and distribute augmented reality (AR) content, has raised $1.1 million in a seed funding round led by News Corp Australia, with participation from existing investors. The investment is the first by News Corp Australia in a seed funding round.
Crowdsourced security testing startup Bugcrowd has raised a US$15 million (AUD$19 million) Series B round led by Blackbird Ventures, with participation from existing investors including Rally Ventures, Paladin Capital Group, and Industry Ventures, and new investor Salesforce Ventures. The funding, which brings the total raised by the startup to date to US$24 million, will go towards accelerating customer and crowd growth, pursuing strategic partnerships, and accelerate engineering and research and development.
Sydney fashiontech startup Fame and Partners has announced a US$7.5 million (AUD$10.2 million) raise from two US venture capital firms as it moves its headquarters to Los Angeles. New York City-based firm Firstmark Capital and LA-based Upfront Ventures have co-led the startup’s Series A round.
Spanish Uber rival Cabify has raised $120 million in a Series C round led by Lyft investor Rakuten, which contributed $92 million to the round. As well as Spain, Cabify operates in a number of Latin American countries, and the funding will help it expand further around this region and Europe.
Chinese startup Yaochufa, which runs a short-distance travel service platform specialising in experiences such as weekend travel packages, has raised $85 million in a Series D round from Beijing UTour International Travel Service Co, Tongchuang Jinding Investment Management, and China Capital Management. The funding will go towards expanding the platform’s overseas products and other services. The startup last raised in 2014, a $35 million Series C round.
Publishing platform Medium has raised $50 million just a few months after closing a $57 million round. According to Re/code, this fresh round of funding was raised at a valuation of $600 million and was led by Spark Capital with participation from existing investors Andreessen Horowitz and Google Ventures. Also investing is Medium CEO Ev Williams.
Fraud prevention startup Forter has raised $32 million in a Series C round led by Scale Venture Partners, with participation from existing investors Sequoia Capital and New Enterprise Associates. The round, which brings the total raised by the startup since its launch in 2014 to $50 million, will go towards further expansion around the US. As part of the round, Rory O’Driscoll of Scale Venture Partners will be joining Forter’s board of directors.
Investment app Acorns has raised $30 million in a new round from investors including PayPal, Rakuten, and Greycroft. According to VentureBeat, Acorns CEO Noah Kerner said the investment from PayPal is strategic, with the partnership making it possible to “bring the benefits of micro-investing to more and more people around the world.” 850,000 accounts are open on Acorns.
‘Last-mile’ delivery company Ninja Van, currently active in Singapore, Malaysia, and Indonesia, has raised $30 million in a round led by Abraaj Group, with participation from investors including B Capital Group and YJ Capital. The funding will go towards expansion into new markets, including Thailand and Vietnam, through 2016.
Beijing startup Roseonly, an online-to-offline flower and gift service, has raised $29 million in a Series C round from Yuansheng Capital and two other Chinese investors. The funding will go towards local and international expansion, with the service currently active in 25 stores across four cities.
CRM startup Insightly has raised $25 million in a Series C round led by Scott Bommer with participation from existing investors Emergence Capital Partners, Cloud Apps Capital Partners, and Sozo Ventures. With the startup mostly focused on the small business space, the funding will go towards the growth of the platform into larger businesses.
FusionOps, the developer of a supply chain intelligence cloud, has raised $25 million in a Series C round led by Georgian partners, with participation from existing investors including New Enterprise Associates and Prabhu Goel, the startup’s chairman. Tyson Baber of Georgian Partners will join the FusionOps board of directors as part of the financing.
Brighter, a healthtech startup that helps consumers find and book dentists, has raised $21 million in a Series D round led by General Catalyst Partners, with participation from DAG Ventures and existing investors including Benchmark and Mayfield. The funding will go towards expanding the Brighter team, product development, and securing partnerships with health insurance companies.
Photo editing app PicsArt has raised $20 million in a Series C round from DCM Ventures and Siguler Guff & Company. The funding will go towards building new features and expanding its operations in Japan and China. Available across Android and iOS, the company reports having 75 million monthly active users.
PrecisionHawk, a startup creating aerial data and safety platforms for drones, has raised $18 million in a Series C round from new investors including Verizon Ventures and Yamaha Motor, with participation from all existing investors. Bringing the total raised by the startup to date to more than $30 million, the funding will go towards further product development and international expansion.
Takipi, a startup which has created a real-time event intelligence platform, has raised $15 million in a Series B round led by Lightspeed Venture Partners, with participation from existing investor Menlo Ventures. The funding, which brings the total raised by the startup to date to $22 million, will go towards accelerating the company’s investment in sales, marketing, and R&D.
TapInfluence, a startup working in influencer marketing automation, has raised $14 million in a Series C round led by Noro-Moseley Partners, with participation from investors including Grotech Ventures and Access Venture Partners. This brings the total raised by the company to date to $22.2 million.
Image: Juan de Antonio, cofounder and CEO of Cabify. Source: Finsmes.