Daily Deal Activity 06/03/14

Noteworthy:

Kohlberg Kravis Roberts & Co has acquired Internet Brands, an operator of websites and software that enable companies to expand their services, from Hellman & Friedman and JMI Equity. The deal is reportedly valued at $1.1 billion compared to $640 million, which Hellman & Friedman and JMI had paid back in 2010. Internet Brands operates a number of sites including DoItYourself.com, Wikitravel, CarsDirect, CorvetteForum and Apartment Ratings, among others.

Marketing Technology

analytics & reporting

Pathbrite, a provider of online student portfolios used to collect, monitor, and track academic performance and achievement, has raised $3.7 million in funding led by Cengage Learning, with participation from ACT and Serious Change. The company plans on using the new capital for expansion plans focused customer integration, sales force expansion, and continued platform development.

content Management

iParadigms, which develops Web-based technologies for plagiarism prevention and content verification applications, was acquired by Insight Venture Partners and GIC, from Warburg Pincus. The deal is reportedly valued for $752 million.

content Management

Library automation software solutions company VTLS, was acquired by Innovative Interfaces. Terms were not disclosed.

media management system

Digital media-buying management platform MediaMath, has raised $73.5 million in Series C funding led by Spring Lake Equity Partners, with participation from Akamai Technologies, Safeguard Scientifics, Catalyst Investors, and Observatory Capital. The company also increased its debt facility to $105 million, which was syndicated through Silicon Valley Bank. The company plans on using the funding to continue global growth and support its new international offices.

mobile technology

Finland-based mobile data plan firm Pryte, which develops technology that allows app makers and carriers to sell mobile data in incremental packages based around particular app usage, was acquired by Facebook (Nasdaq:FB). Terms were not disclosed.

mrm/workflow management

SwipeClock, a provider of time, attendance, and workforce management SaaS for small to mid-sized companies, has raised an undisclosed amount of funding from Moelis Capital Partners.

online targeting/optimization

Perfect Audience, a startup that enables small businesses to follow their website visitors with targeted online advertising, was acquired for $25.5 million by Marin Software (NYSE:MRIN), which operates a cloud-based digital advertising management platform. Prior to the acquisition, Perfect Audience had raised seed funding from such firms as the Knight Foundation, Pritzker Group Venture Capital, SV Angel, and Y Combinator.

social technology

Offerpop, a provider of a cloud-based social marketing application for retailers and brands, has raised $15 million in Series C funding led by Edison Ventures, with participation from CommonAngels, HearstVentures, Salesforce.com, and Windcrest Partners. The company, which has now raised $25 million in funding to date, plans on using the new capital to accelerate innovation of its platform and expand its current operations.

Digital Media/Commerce

classified/auction/p-to-p

Online live auction marketplace Invaluable, has raised $33.8 million in Series D funding led by Insight Venture Partners, with participation from Ascent Venture Partners and Commonwealth Capital Partners. The company plans on using the new capital for technology innovation and team expansion, as well as additional strategic partnerships and acquisitions.

ecommerce

Online on-demand video tutoring services provider InstaEDU, was acquired for $30 million by Chegg (NYSE:CHGG), a provider of an online textbook rental service. Prior to the acquisition, InstaEDU had raised $5 million in funding from investors such as Battery Ventures and The Social+Capital Partnership. The acquisition will enable Chegg to move into the student tutoring marketplace.

mobile content/apps

Local fishing information application developer Fishidy, has raised $1.5 million in Series A funding led by Hyde Park Angels, with participation from Wisconsin Super Angel Fund, Brightstar Wisconsin, the Gialamas Company, and Gannett Fleming. The new capital will be used to further develop the company’s mobile product.

mobile content/apps

Mobile application developer Simplikate Systems, was acquired by cloud-based multi-screen solutions provider Phunware. The acquisition will enable Phunware to enhance personalized services and experiences for shoppers. Terms were not disclosed.

mobile content/apps

Thailand-based mobile messaging provider Smile Interactive, has sold a 74 percent stake to Malaysia-based Macromac (AIM:MACC), which operates an application-to-person mobile messaging platform (MMP), for $2.9 million.

mobile content/apps

Mobile application developer Telephony Media, was acquired by One Public, a digital marketing technology company that provides cross-media video, mobile, social and local marketing products. Terms were not disclosed.

niche content, social media/apps, online lead generation

Houzz, which operates an online community for home-renovation professionals and their clients, has raised $150 million in Series D funding at a $2.3 billion post-money valuation. The company had previously raised $40 million from Comcast Ventures, Kleiner Perkins, Sequoia Capital, New Enterprise Associates, and GGV Capital.

Traditional Media

digital place-based media

Destination Media (dba Gas Station TV), an operator of digital out-of-home media networks in gas retail stations and convenience stores, was acquired by Rockbridge Growth Equity.  Terms were not disclosed.

Technology & Communications

enterprise mobility

Good Technology, a provider of enterprise mobility solutions, has acquired certain assets of Fixmo, which provides mobile risk management solutions for organizations to identify, mitigate, and manage risks associated with mobile devices in the workplace. Terms were not disclosed.

networking equipment

Cloud networking vendor Aryaka Networks, has raised $10 million in Series D funding led by Trinity Ventures, InterWest Partners, Nexus Venture Partners, Mohr Davidow Ventures, and Predsidio Ventures. The company plans on using the new capital to accelerate global expansion.

Software

engineering software

KRG Capital Partners has sold UniversalPegasus International, which provides project management, engineering, and construction software solutions, to Huntington Ingalls Industries (NYSE:HII). Terms were not disclosed.

hr

UK-based SeatonCorp, a provider of outsourcing solutions such as employee recruitment, managed services, and strategic outsourced workforce management, was acquired by staffing services provider TrueBlue (NYSE:TBI). Terms were not disclosed.

hr

Zenefits, a company that manages benefits, payrolls, and HR, has raised $66.5 million in Series B funding led by Andreessen Horowitz and Institutional Venture Partners, with participation from SV Angel, Hydrazine Capital, and individual investors. The new financing brings the company’s total funding to $84 million.

security

Big data security software solutions provider Gazzang, was acquired by Cloudera, a provider of enterprise analytic data management solutions that leverage Hadoop. Gazzang had raised over $4 million in funding from such firms as Austin Ventures and Silver Creek Ventures. Terms were not disclosed.

Information & Business Services

healthcare

RJ Health, a provider of pharmaceutical reimbursement and coding information and services for the healthcare industry, was acquired by Fitzroy Health, an investment and management firm. Terms were not disclosed.

it consulting/systems integration

Technology consulting firm specializing in cloud solutions Cloud Theory, has raised an undisclosed amount of funding from The Blackstone Group.

it consulting/systems integration

Objective Systems Integrators, a developer of operations that support system solutions for communications providers, was acquired by MYCOM, a provider of wireless engineering services and service assurance software to the telecom industry, from Sobha Renaissance Information technology. Terms were not disclosed.

market research

Webcam-enabled focus group provider FocusVision, has acquired research tool developer Revelation Global. As part of the deal, the two businesses will merge to become one company, while the Revelation Next mobile and web qualitative research app will be incorporated into the FocusVision product suite of live video streaming and real-time online digital products. Terms were not disclosed.

staffing

Cross Country Healthcare (Nasdaq:CCRN), a provider of healthcare staffing solutions, has acquired substantially all of the assets and business of Medical Staffing Network (“MSN”), a provider of healthcare staffing solutions, for $48.3 million.

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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