Daily Deal Activity 02/05/13

Digital Media/Commerce


Russia-based mobile gaming network Game Insight, has raised $25 million at a valuation of approximately $550 million, from Russia-based venture investment company IMI.VC. Founded in 2010 and profitable, Game Insight doubled annual revenue from $40 million in 2011 to $80 million in 2012 due to users’ increased purchases of virtual goods. Insiders at the company expect to raise an additional $50 million round later this year.

mobile content/apps

U.K.-based Hailo, which offers a mobile app that connects cab drivers and helps them share information about high-volume locations, raised $30.6 million in funding from Union Square Ventures. Since its app was launched in November 2011, the company has recorded more than $100 million in sales.

mobile content/apps

Luluvise, a company offering a social and communications platform for women via its mobile app, raised $2.5 million in an angel round of funding. The company also raised $1 million in November 2011.

social media/Apps

About.me, the personal profile page startup acquired days after its public launch by AOL (NYSE:AOL) back in 2010, is spinning out to operate independently. The company also announced raising $5.7 million in funding in a round led by True Ventures, with SoftTech VC, Google Ventures, and CrunchFund also participating.

Marketing Technology


Social TV analytics company Bluefin Labs, which provides solutions to brand advertisers, advertising agencies, and TV networks, has been acquired by Twitter, for between an estimated $50 million and $100 million. The company’s technology and data enable clients to access data at scale that links people’s social media commentary to the shows and commercials they watch on TV.

content management, analytics/reporting

IoGo_net, a software company offering local governments enhanced online experiences with customer-focused features that include personalized recommendation engines, traffic marking, and user-content interaction analytics, was acquired by IT and business services provider Agilisys. Together the companies’ products will deliver an improved digital citizen experience, significantly increasing channel shift, and contributing to savings while still meeting customer expectations. Terms were not disclosed.

commerce management

Ribbon, which develops tools that make digital payments easier by introducing a one-page checkout system that can be linked to from Web, email, and social media sites, raised $1.6 million in seed funding in a round led by Draper Associates, with participation from Siemer Ventures and individuals. The company had previously raised $0.12 million from AngelPad, Gokul Rajaram, Sierra Ventures, and InterWest Partners.

content management

Guide, a software company focused on turning online news, social streams and blogs into video for on-the-go consumption, raised $1 million in seed funding from investors including Sapient and The Knight Foundation. The company also announced the launch an alpha version of its product, which aims to be the next generation in online news delivery by pairing text-to-speech technologies with online news and blog feeds to create curated, personalized video news.

mrm/workflow management, crm

Debtdomain, which operates a Web-based system for managing the loan syndication process from pitch to closing – including deal setup, pipeline reporting, investor CRM, sole and joint bookrunning, and allocation, has been acquired by Ipreo, a leader in providing market intelligence, data, and technology solutions to investment banks and other corporations. The Debtdomain business will become part of Ipreo’s Capital Markets vertical, completing Ipreo’s offering of Web-based new-issuance solutions for all types of syndicated products. Terms were not disclosed.

product/price software

Israel-based Upstream Commerce, a provider of pricing- and assortment-tracking software for retailers, has secured an additional $3 million in funding from Bright Capital, YL Ventures, and private investors. The company’s cloud-based service enables retailers to track and analyze competitor prices and assortment. In March 2011, Upstream also raised a $1.25 million funding round led by YL Ventures.

social technology

Engagio, a company operating a social Web platform for searching, discovering, and following social conversations, has been acquired by marketing company Influitive, which offers analyses data around social media, influencer networks, and other peer-to-peer techniques to spread information. The purchase follows the $7.3 million Series A investment in influitive announced in December led by Hummer Winblad and Relay Ventures. Terms of the cash and stock deal were not disclosed.

social technology

Spredfast, a provider of social marketing software, raised $18 million in funding in a round led by OpenView Venture Partners, with participation from return backers Austin Ventures and InterWest Partners. The company’s social media management systems help companies manage the enablement of more people, in more places to engage in more conversations.


Digital agency

U.K.-based NetConstruct, a full-service Web design and development agency, was acquired by SEO and digital marketing firm Ingenuity Digital Holdings. The deal sees IDC gain a foothold in online services such as hosting enterprise level websites and eCommerce stores for B-to-Band B-to-C applications in areas such as mobile, video, online training, and systems integration. Terms of the deal were not disclosed.

traditional Media

b-to-b media

VOS Media, which produces events such as Ski & Snowboard Show, The Outdoors Show, The London Bike Show, The Active Travel Show, and the Vitality Show, as well as publishing the Ski & Snowboard magazine, has sold a majority stake to Telegraph Media Group, publisher of The Daily Telegraph, The Sunday Telegraph, The Telegraph and The Telegraph weekly world edition. Damian Norman, Managing Director of VOS Media, will retain a minority equity stake. Terms were not disclosed.

Consumer Magazine Publisher, Consumer Book Publisher, Niche Content

The books, magazines, and websites of special interest publisher BowTie, have been acquired for approximately $10 million by I-5 Publishing, a newly formed joint venture between Mark Harris, co-founder and co-owner of National Publisher Services, David Fry, chairman of NPI Ventures, and CTO of Fry Communications. Included in the sale are Cat Fancy, Dog Fancy, Pet Product News International, Horse Illustrated, Urban Farm, AnimalNetwork.com, DogChannel.com, and books like Dog Heroes of September 11th and The Original Dog Bible.


cloud computing, infrastructure software

Piston Cloud Computing, which offers software for managing a private Infrastructure-as-a-Service cloud, raised $8 million in Series B funding from Cisco Systems, Data Collective, Swisscom Ventures, Divergent Ventures, Hummer Winblad Venture Partners, and True Ventures. OpenStack is an open-source project founded by NASA and Rackspace Hosting that provides tools for setting up and managing a compute cloud.

cloud computing, infrastructure software

Ravello Systems, which operates a testing platform for the public cloud, raised $26 million in funding led by Sequoia Capital, with participation from Norwest Venture Partners and Bessemer Venture Partners.


Legen3D, which has developed technology to convert two dimensions to three, as closed on $8 million in Series B funding led by current investors Augustus Ventures and Northwater Capital Management. Legend3D previously raised more than $33 million.


application management

After a year in which its revenue quadrupled and its number of customers doubled, application management provider New Relic raised $80 million in funding at a valuation of approximately $750 million in preparation for a possible initial public offering. The mezzanine round was led by Insight Venture Partners and includes new investors T. Rowe Price, Dragoneer Investment Group, and Passport Ventures, along with several current investors including Benchmark Capital, Trinity Ventures, Tenaya Capital, Allen & Co., Four Rivers Group, and DAG Ventures. New Relic has now raised approximately $115 million.


China-based eBaoTech, a provider of software solutions to the global insurance industry, has completed a $36 million round of growth equity funding led by FTV Capital, with participation from Cathay Capital Private Equity. Included in the company’s offering is an end-to-end life insurance system that supports various products, sales channels, and life cycle functionalities.


Jibe, a company SaaS recruiting solutions that powers employee recruiting without changing their applicant tracking system, raised $10 million in Series B funding led by Longworth Venture Partners, with existing investors such as Polaris Partners, Lerer Ventures, and Thrive Capital participating as well. This brings the company’s total investments to over $24 million.


WhiteHat Security, a provider of software that conducts continuous vulnerability assessment and management services, raised $31 million in funding to bring its security service down to smaller companies. MI Equity led the latest investment with a $26 million infusion. Investor Growth Capital, which invested $8 million into the business in summer 2011, provided the remaining $5 million. The proceeds of WhiteHat’s round will be used to expand its business deeper into smaller enterprises businesses with less than $500 million in revenue that aren’t likely to spend money on on-premise vulnerability testing software.


enterprise mobility

Workforce management solutions provider ServicePower, has acquired Stratix Corporation’s Software Division and Field Service Mobile software, giving the company a platform-agnostic product that supports the growing corporate Bring-Your-Own-Device trend. The acquires HTML5-based mobile dispatch software, which will be rebranded under the ServicePower ServiceMobility product set, runs on virtually any device and operating system, giving companies the ability to pursue a BYOD strategy for employees and contractors in the field. Terms were not disclosed.

Information & Business Services


CVC Capital Partners has agreed to acquire a majority stake in the business process outsourcing unit of Philippine Long Distance Telephone (PSE: TEL). No financial terms were disclosed, although an earlier press report suggested talk at around $320 million.


ZM Capital has acquired Cast & Crew Entertainment Services, a provider of entertainment payroll solutions, from ABRY Partners. No financial terms were disclosed for the deal, which included minority equity participation by Veronis Suhler Stevenson. The company offers processing, payroll invoice and report, and payroll tax services, in addition to residual processing, residual invoice and report, and residual record maintenance services.

healthcare consulting

The Chartis Group, a strategic consulting firm for hospitals and integrated healthcare delivery networks, has raised an undisclosed amount of private equity funding from Riordan, Lewis & Haden Equity Partners.

it consulting/systems integration

U.K.-based SolStone Intelligent Solutions (dba SolStonePlus), a company offering management information and reporting, analytics, budgeting and forecasting, customer relationship management, and corporate performance management consulting services, was acquired  by Red Stack Technology, a U.K.-based Oracle (NasdaqGS:ORCL) partner. Terms were not disclosed.

it consulting/systems integration

Coalfire Systems, a provider of IT governance, risk, and compliance solutions, raised $3.6 million in second-round funding from return backer Baird Capital. This brings the company’s total funding (all of which is from Baird), to over $8 million. Coalfire Systems’ solutions include cloud and virtualization services and network penetration testing services, including application security services.

it consulting/systems integration

Sweden-based Exait, which provides support services for information technology operations and system, is being acquired for $7.35 million by Sweden-based Atea Holding, which engages in the advisement, sale, distribution, and integration of information technology products and infrastructure in Nordic countries. Exait offers IT support and consultancy in the areas of infrastructure, systems development, systems integration, product sales, project management, and business development.


Virgin Media (Nasdaq: VMED) is reportedly in talks to be acquired by Liberty Global (Nasdaq:LBTY). Virgin Media shares rose nearly 15 percent on the news, giving it a market cap of approximately $10.4 billion.

Gdgt, which operates a consumer electronics review website, is reportedly considering an acquisition by AOL (NYSE:AOL). The company has also received interest from CBS, Amazon, and CNET over the years. Gdgt’s parent company PastFuture has raised approximately $3.7 million from investors including Spark Capital, True Ventures, betaworks, AOL Ventures, Lerer Ventures, and others.


About Petsky Prunier
Petsky Prunier is one of the leading investment banks in the technology, media, marketing, eCommerce, and healthcare industries. Our firm's mergers and acquisitions and private placements advisory services reflect a unique blend of product specialization and industry expertise. Together with strategic consulting firm Winterberry Group, a Petsky Prunier company, our organization represents one of the largest industry-specific advisors providing strategic and transactional services. In addition, we offer international reach through our partnership with investment bank Altium, which operates from nine offices across Europe. Securities transactions are processed through Petsky Prunier Securities LLC, a member of FINRA and an affiliated entity.

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