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THE CAPITALIZATION REPORT V210524
EDITOR: JD M. and Will E.
KEYWORDS: Asapp, Dragoneer Investment Group, Fidelity Management & Research, Smartly.io, Viralspace.ai, Quest Venture Partners, Lightspeed Venture Partners, Wysa, Cervest, SymphonyRM, Heru Inc.,
DEALS HIGHLIGHS (Recent Deals)
Asapp, Inc., a New York based artificial intelligence research-driven company, raised $120m with Dragoneer Investment Group and Fidelity Management & Research leading the deal (see below form more information)
Smartly.io acquired Viralspace.ai, a Palo Alto, Calif.-based digital advertising A.I. startup. Viralspace investors have included Lightspeed Venture Partners and Quest Venture Partners.
Wysa, a Boston MA-based company that provides an AI-powered mental health platform, raised $5.5M in Series A funding
Cervest, a London UK-based company which specializes in Al-powered Climat Intelligence (CI) platform, raised $30m in Series A funding
SymphonyRM, a Palo Alto, CA-based provider of AI powered patient engagement solutions for health systems, raised $25m in Series B funding
Heru Inc., a Miami FL-based company developer of wearable AI-powered vision diagnostics and augmentation software, raised $30m in Series A funding
(See List of 50+ Deals Below)
DEAL OVERVIEW ( Asapp, Inc. )
Developer of a machine learning software designed to make customer experiences more productive. The company’s AI platform augments, automates and enhances conversations with customers to close more deals while focusing on complex and data-rich problems, enabling customer care teams, salespeople and other organizations to be more efficient and effective while realizing their full potential and increase efficiency.
The CEO, Mr. Gustavo Sapoznik, is a Co-Founder and serves as Chief Executive Officer and Board Member at Asapp.
DEAL VALUATION ( Asapp, Inc. )
The company raised $120 million of Series C venture funding in a deal co-led by Dragoneer Investment Group and Fidelity Management & Research on May 19, 2021, putting the company’s pre-money valuation at $1.48 billion. Telstra Ventures, March Capital, Emergence Capital Partners, 40 North Ventures, Victor Wang, Marcus Westin, John Doerr, John Chambers, and Euclidean Capital also participated in the round. The funds will be used to increase investment in its AI Native® and Customer Experience Performance (CXP) platform.
DEAL (Recent AI Deals)
| Sempra LNG | Sempra Energy reached a definitive agreement to sell a 20% stake in the company to Kohlberg Kravis Roberts for $3.37 billion on April 4, 2021. The transaction values the company at approximately $25.2 billion. Proceeds from the sale will be used to help fund growth across Sempra Energy’s $32 billion capital program, which is centered on its U.S. utilities and to further strengthen its balance sheet. The company is being actively tracked by PitchBook. |
| Nuvalent | The company raised $135 million of Series B venture funding in a deal led by Bain Capital Life Sciences on May 11, 2021, putting the company’s pre-money valuation at $335 million. Fairmount Funds Management, Driehaus Capital Management, Boxer Capital, Venrock, Deerfield Management, Fidelity Management & Research, Wellington Management, Viking Global Investors, Janus Henderson Investors, Avoro Capital and Logos Capital also participated in the round. The funds will be used to advance clinical trials and expand the discovery research pipeline. Previously, the company raised $50 million of Series A venture funding from Deerfield Management and other undisclosed investors on January 27, 2021, putting the company’s pre-money valuation at $20 million. |
| Neurelis | The company raised $114.76 million of Series D venture funding from Decheng Capital, Philos & Partners and Cormorant Asset Management on March 5, 2021, putting the company’s pre-money valuation at $350 million. Other undisclosed investors also participated in the round. |
| Ventyx Biosciences | The company raised $114 million of Series A1 venture funding in a deal led by venBio on March 9, 2021, putting the company’s pre-money valuation at $184 million. OrbiMed, Vivo Capital, Qiming Venture Partners, New Science Ventures, Third Point Ventures, RTW Investments, Janus Henderson Investors, Wellington Management, Cormorant Asset Management, Surveyor Capital and Farallon Capital Management also participated in the round. The funds will be used to accelerate the clinical development of immunology programs and advance preclinical programs against novel drug targets with the prolific drug discovery engine. |
| FogPharma | The company raised $107 million of Series C venture funding in a deal led by venBio on March 1, 2021, putting the company’s pre-money valuation at $150 million. GV, PagsGroup, The Invus Group, HBM Healthcare Investments, 6 Dimensions Capital, Deerfield Management, Cormorant Asset Management, Farallon Capital Management, Blue Pool Capital, Casdin Capital and T. Rowe Price also participated in the round. The funds will be used to advance its lead, only-in-class Helicon peptides aimed at addressing substantial cancer patient populations into clinical development. |
| Tripledot | The company raised GBP 58.93 million of Series A venture funding from Access Industries, Lightspeed Venture Partners and Eldridge (Greenwich) on April 8, 2021, putting the pre-money valuation at GBP 260 million. The funds will be used to expand operations by acquiring studios and rollout the next generation of titles. |
| Rapid Micro Biosystems | The company raised $81 million of Series D1 venture funding in a deal led by D1 Capital Partners on March 16, 2021, putting the company’s pre-money valuation at $625 million. Bain Capital, Ally Bridge Group, Endeavour Vision, Xeraya Capital, Quaker Partners, Longitude Capital, Asahi Kasei Medical, BlackRock, T. Rowe Price, Adage Capital Management, Sunley House Capital Management and CaaS Capital Management also participated in the round. The funds will be used to accelerate the company’s growth. |
| Aura Biosciences | The company raised $80 million of Series E venture funding in a deal led by Matrix Capital Management and Surveyor Capital on March 22, 2021, putting the company’s pre-money valuation at $200 million. Chiesi Ventures, Lundbeckfond Ventures, Medicxi, Ysios Capital, Advent Life Sciences, Arix Bioscience, Columbus Venture Partners, Velosity Capital, Rock Springs Capital and Adage Capital Management also participated in the round. The funds will be used to advance the clinical development of its VDC technology platform, including the pivotal Phase 3 program for AU-011, its lead candidate in development for the first-line treatment of choroidal melanoma, and ongoing research for additional programs in ocular oncology, as well as expanding the VDC technology into bladder cancer, the first non-ophthalmic solid tumor indication. |
| ComplyAdvantage | The company raised $70 million of Series C venture funding in a deal led by Ontario Teachers’ Pension Plan on May 20, 2021, putting the company’s pre-money valuation at $296.26 million. The Goldman Sachs Group and 9 other investors also participated in the round. The company intends to use the fund to accelerate the development of the company’s industry-leading data and suite of products to serve institutions with diverse clients and complex risk exposure. |
| Vyond | The company raised $50 million of venture funding in a deal led by PeakSpan Capital on April 16, 2021, putting the company’s pre-money valuation at $150 million. The funds will be used to continue its history of high caliber innovation velocity and dedication to delivering superior customer success at scale, for the most demanding customers across the globe. |
| Mineralys | The company raised $40 million of Series A venture funding in a deal led by HBM Healthcare Investments and Samsara BioCapital on April 6, 2021, putting the company’s pre-money valuation at $37.5 million. Adams Street Partners and Catalys Pacific also participated in the round. The company intends to use the fund to complete a phase 2 proof-of-concept study for its lead experimental hypertension treatment, MLS-101 and for preparatory work for late-stage testing of the therapy. |
| Sempra LNG | 04-Apr-2021 |
| Nuvalent | 11-May-2021 |
| Neurelis | 05-Mar-2021 |
| Ventyx Biosciences | 09-Mar-2021 |
| FogPharma | 01-Mar-2021 |
| Tripledot | 08-Apr-2021 |
| Rapid Micro Biosystems | 16-Mar-2021 |
| Aura Biosciences | 22-Mar-2021 |
| ComplyAdvantage | 20-May-2021 |
| Vyond | 16-Apr-2021 |
| Mineralys | 06-Apr-2021 |
| ZincFive | 14-Apr-2021 |
| Finbourne | 16-Apr-2021 |
| Zapp (Logistics) | 31-Mar-2021 |
| Karus Therapeutics | 20-Apr-2021 |
| Apnimed | 25-Mar-2021 |
| Beep | 16-Apr-2021 |
| Fortis Therapeutics | 29-Mar-2021 |
| Artio Medical | 29-Apr-2021 |
| Act-On Software | 16-Mar-2021 |
| NYMBUS | 20-Apr-2021 |
| Small Door | 23-Apr-2021 |
| Lengo Therapeutics | 30-Apr-2021 |
| PharmaJet | 26-Apr-2021 |
| L7 Informatics | 08-Mar-2021 |
| RingIT | 04-May-2021 |
| CapsoVision | 10-Mar-2021 |
| Mindera | 11-May-2021 |
| Connected2Fiber | 22-Mar-2021 |
| Redeam | 31-Mar-2021 |
| Jifflenow | 04-May-2021 |
| Svelte Medical Systems | 17-Mar-2021 |
| SkySpecs | 11-Mar-2021 |
| RNAimmune | 21-Apr-2021 |
| Audoo | 13-May-2021 |
| ObjectiveGI | 25-Mar-2021 |
| Applied LifeSciences & Systems | 12-May-2021 |
| Uncharted Supply Co | 15-Mar-2021 |
| Distributed (IT Consulting and Outsourcing) | 05-May-2021 |
| Liverpool ChiroChem | 13-Apr-2021 |
| iSize | 06-May-2021 |
| RazorMetrics | 20-Apr-2021 |
| Veruna | 02-Mar-2021 |
| CerebrumX | 15-Mar-2021 |
| AMOpportunities | 09-Mar-2021 |
| SelectION | 08-Apr-2021 |
| Wage (Business/Productivity Software) | 13-Apr-2021 |
| OnBuy.com | 09-Apr-2021 |
| Lumeda | 08-Apr-2021 |
| 3S Money | 21-Apr-2021 |
| Enlaza Therapeutics | 22-Mar-2021 |
| Geosite | 12-Mar-2021 |
| Arbnco | 21-Mar-2021 |
| Videregen | 28-Apr-2021 |
| TurinTech | 28-Apr-2021 |
| Aryeo | 12-May-2021 |
| Brooklyn Vendor Assurance | 30-Apr-2021 |
| Pulmotect | 10-Mar-2021 |
| Yoppie | 24-Mar-2021 |
| AdaptTech | 23-Mar-2021 |
| HiyaCar | 29-Apr-2021 |
| iKVA | 16-Mar-2021 |
| Candidate.ID | 12-Apr-2021 |
| PayGround | 02-Mar-2021 |
| SnapDragon (Business/Productivity Software) | 06-May-2021 |
| ilumoni | 13-May-2021 |
| Kinetic Pressure Control | 23-Mar-2021 |
| Dovetale | 11-May-2021 |
| EarlyBird Education | 05-May-2021 |
| Insphere | 01-Apr-2021 |
| Continuity (Business/Productivity Software) | 06-May-2021 |
| Dvant Pharmaceuticals | 19-Mar-2021 |
| Ablatus Therapeutics | 13-Apr-2021 |
| Gener8 Ads | 10-May-2021 |
| Shotzr | 08-Apr-2021 |
| Mill It | 10-May-2021 |
| FieldEye | 08-Mar-2021 |
| Derivitec | 29-Apr-2021 |
| Yimba | 06-Apr-2021 |
| Aprao | 16-Apr-2021 |
| Dream Harvest Games | 19-May-2021 |
| Build Partner | 31-Mar-2021 |
| Catipilla | 19-Mar-2021 |
| VidiVet | 03-Mar-2021 |
| Agilor | 15-Apr-2021 |
| Kipster | 21-Apr-2021 |
| UltraSolar Technology | 01-Mar-2021 |
