Daily Deal Activity 06/30/17

Digital Media/Commerce

digital marketplace

Outsourced research and development marketplace Science Exchange has raised $28 million in Series C funding led by Norwest Venture Partners with participation from Union Square Ventures, Maverick Capital, and Collaborative Fund. The company will use the new round of funding for expanding its engineering division.

ecommerce, mobile content/apps

Korea-based ride hailing app developer Kakao Mobility has raised $437 million in a round of funding from TPG. The company will use the new round of funding for expanding its geographic presence within Asia.

mobile content/apps

Meditation app developer Headspace has raised $36.7 million in a round of funding from Spectrum Equity. The company will use the new round of funding for content creation initiatives and expanding its presence internationally.

marketing Technology

commerce management

Brazil-based mobile commerce platform Movile has raised $53 million in a round of funding from Innova Capital and Naspers. The company will use the new round of funding for expanding its presence within Latin America.

email/messaging software

China-based instant messaging cloud service company Rong Cloud has raised $14 million in a round of funding from GP Capital and Tianxing Capital. The company will use the new round of funding for research & development efforts.

mobile technology

Location data platform NinthDecimal will acquire mobile audience and data visualization technology developer MoLOGIQ. The acquisition will see MoLOGIQ integrated into NinthDecimal Labs.  Terms of the deal were not disclosed.

mrm/workflow management

Procurement sourcing solutions company Bonfire has raised $11 million in a round of funding from Battery Ventures, Crosslink Capital, and Spider Capital. The company will use the new round of funding for hiring talent.

traditional media

consumer magazine publishing

Digital marketing and content strategy agency Longneck & Thunderfoot has acquired tech and entrepreneurship publication EQ Magazine. The acquisition will provide Longneck with expanded digital storytelling capabilities. Terms of the deal were not disclosed.

Software

data management

Germany-based open-source database developer ArangoDB has raised $4.8 million in a round of funding from Target Partners. The company will use the new round of funding for expanding its presence within the US.

erp

Commercial truck inventory solutions company Work Truck Solutions has raised $5 million in a round of funding from Autotech Ventures, Wakestream Ventures, and Moneta ventures. The company will use the new round of funding for product development efforts.

erp

Facility maintenance software developer UpKeep has raised $2.7 million in a round of funding from Y Combinator, Battery Ventures, Bain Capital Ventures, and Mucker Capital. The company will use the new round of funding for expanding operations.

financial

Vista Equity Partners has acquired a majority stake in property management payments and billing solutions provider PayLease. The acquisition will provide PayLease with the resources for product development initiatives. Terms of the deal were not disclosed.

financial

Inventory and billing reconciliation system Physician Office Drug Inventory System has been acquired by Besse Medical. The acquisition will provide Besse Medical with a complementary inventory management offering. Terms of the deal were not disclosed.

financial, mobile technology

ScanSource (Nasdaq:SCSC) will acquire SMB point-of-sale payment company POS Portal for $145 million. POS Portal has reported 2016 revenues of approximately $110 million, representing a 2016 revenue multiple of 1.3x.

healthcare

Virtual care platform Babyscripts has raised $5.7 million in a round of funding from Ysios Capital, Chemo Group, and P5 Health Ventures. The company will use the new round of funding for expanding headcount.

healthcare

Austria-based mobile health management platform mySugr has been acquired by Roche. The acquisition will provide Roche with an expanded app-based digital health services offering. Terms of the deal were not disclosed.

information

financial information

UK-based Electric Word, a provider of information to the sports marketing industry, has been acquired by Sport Business Acquisitions in a transaction valuing the company at $6.3 million. Electric Word has reported LTM revenues for the period ended November 30 2016 of $3.5 million, representing an LTM revenue multiple of 1.8x.

business services

it consulting

IT services provider Information Technology Procurement Sourcing has acquired remote managed services provider Lefcon. The acquisition will provide ITPS with an expanded geographic presence. Terms of the deal were not disclosed.

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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