Week Ending 05.05.19
ZETA, CARIS & BLUWARE MAKE ACQUISITIONS
PARSONS SEEKS USD 500M IPO & JIAYIN REFILES
EXAMITY RAISES USD 90M & TECHNISYS RAISES USD 50M
FINRA OPENS AI OFFICE
CALYPSO HIRES PRESIDENT & HARNESS HIRES CFO
AND MORE ↓
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MERGERS AND ACQUISITIONS
Zeta Global, the New York City-based marketing software company using AI, said it acquired assets from online advertising technology company Sizmek.
In February, Zeta hired former Nielson executive Ben Hayes as chief product officer. The month before it announced an unspecified investment in bankrupt advertising firm Visto.
Caris Life Sciences, the Irving, Texas-based healthcare company developing cancer treatments using AI, said it acquired cancer research firm Pharmatech.
Caris hired former CVS executive Joseph J. Frendo as chief operations officer in April. In the fall of last year it raised USD 150m in debt and convertible notes from TPG Sixth Street Partners.
Bluware, the Houston, Texas-based oil industry software developer using AI, said it acquired Norwegian machine learning company Kalkulo. Bluware also hired a new marketing manager. (See People section)
Techedge, the Milan, Italy-based business services firm using AI, said it acquired a 75% stake in business software developer PA-4tune SrL.
Mapp, the San Diego, California-based digital marketing firm, said it is acquiring Webtrekk, the German machine learning company focused on marketing.
Sonasoft, the San Jose, California-based AI company, said it is acquiring AI firm E-Connect Software. In April Sonasoft said it completed the acquisition of Hotify, which makes AI software.
Ideanomics (formerly called Seven Stars Cloud), the New York City-based AI company, said it took control of Delaware Board of Trade Holdings after acquiring an additional 71.7% of the financial services firm. The company now holds a 98.4% stake.
Last month Ideanomics said it was acquiring a 51% stake in Malaysia's Tree Motion and a 11% stake in its parent, Tree Manufacturing. The parent is an electric vehicle maker and the Tree Motion subsidiary is the company’s sales arm.
Ideanomics also acquired SolidOpinion, the marketing firm using AI, in March. In September last year Ideanomics acquired FinTalk, the secure messaging service, and said it was taking a 10% stake in Asia Times, the news service. Ideanomics also said it entered into a share swap with Liberty Biopharma, which changed its name to HooXi. The specific details of the swap were not disclosed.
Other deals include Oasis Technology, PayFi, and PDF Solutions
FILINGS
Yunji, the Hangzhou, China-based ecommerce company using machine language and AI, closed up 25% after its first day of Nasdaq trading on Friday. The company said it raised USD 121m in an initial public offering after cutting to 11m the number of American depositary shares it planned to sell. The shares priced at USD 11 each, the lowest end of the marketed range.
The company originally filed a USD 200m placeholder in March, and had planned to sell 13.5m ADS. In the end, existing shareholders bought 60% of the shares on offer.
So-Young International, the Beijing, China-based plastic surgery services company using AI, closed up 14% on its first day of Nasdaq trading Friday. The company said it raised USD 179.4m in an initial pubic offering after pricing 13m American depositary shares at USD 13.80 each, the highest end of the marketed range. The company originally filed a USD 150m placeholder.
Parsons, the Centreville, Virginia-based defense industry engineering and services firm using AI, said it is raising as much as USD 518m in an initial public offering of 18.5m shares at USD 26 to USD 28 each. The company originally filed a USD 100m placeholder.
ConversionPoint Technologies, the Newport Beach, California-based ecommerce platform for small-and-medium sized businesses using AI, said it is raising up to USD 43m from an initial public offering of 6.2m shares at USD 6 to USD 7 each.
The IPO will help fund the acquisition of Inuvo, the marketing technology firm using AI. Details are here and here.
Jiayin, the Shanghai, China-based online lender using AI and machine learning, refiled for a USD 57.5m placeholder initial public offering on the Nasdaq.
Blue Hat Interactive Entertainment Technology, the Xiamen, China-based AR company, said it is raising USD 7m in an initial public offering of 1.8m shares at USD 4 each on the Nasdaq.
Diagnos, the Brossard, Canada-based medical diagnostics company using AI, said it is converting CAD 6.5m (USD 4.8m) worth of convertible bonds into 18.5m shares in the company.
Other deals include Social Life Network, Globe Photos and AcuityAds
FUNDING
UiPath, the New York City-based robotics software maker, said it raised USD 568m in a Series D led by Coatue, the technology-focused hedge fund.
Examity, the Newton, Massachusetts-based college testing oversight company, said it has secured USD 90m from private equity firm Great Hill Partners. Proceeds will be used to develop machine learning techniques to prevent cheating.
Technisys, the Miami, Florida-based digital banking software maker using AI, said it raised USD 50m in a Series C led by Riverwood Capital.
Ablacon, the Wheat Ridge, Colorado-based medical technology company using AI, said it raised USD 21.5m in a Series A led by Ajax Health, the KKR-backed healthcare investment firm.
Finitive, the New York City-based specialty finance investment company using AI, said it raised USD 6m in a seed financing led by Atomic Labs, the venture capital fund.
Golden, the San Francisco, California-based database company using AI, said it raised USD 5m in seed funding from investors that included Andreessen Horowitz’s a16z fund.
Cushion, the San Francisco, California-based financial services company using AI, said it raised USD 2.8m in a seed round from a number of existing and new investors, including Afore Capital. Afore launched in 2017 with a focus on early-stage rounds.
And, robotics startup Anki shuts down. Read a VentureBeat analysis here.
LEGAL & REGULATORY
The US tax code should not make it more affordable to hire robots over people, according to an opinion piece in the San Antonio Express News.
The US Financial Industry Regulatory Authority, or FINRA, has opened a new unit focused on artificial intelligence, machine learning and robotic automation, according to a FinancialPlanning.com report.
PEOPLE
Calypso AI, the San Mateo, California-based company developing AI assessment procedures, said it hired industry veteran Steve Holton as president and COO.
Harness, the San Francisco, California-based business services firm using AI, said it hired former SAP executive John Bonney as CFO. The company raised USD 60m in a Series B led by IVP, GV, and ServiceNow Ventures last month.
Arm, the Cambridge, UK-based AI computer processor maker, said it hired former Unisys executive Inder Singh as CFO.
Intent, the New York City-based predictive marketing firm using machine learning, said it hired Laurie Weisberg as chief sales officer. The company was previously known as Intent Media.
Freenome, the South San Francisco, California-based company developing cancer testing using AI, said it hired Cheng-ho Jimmy Lin as chief scientific officer.
RealNetworks, the Seattle, Washington-based facial recognition company, said it hired former GE and IBM executive Jay Burell as chief revenue officer.
Joveo, the Redwood City, California-based advertising platform using AI, said it hired former Salesforce executive Garrett Reynolds as vice president of worldwide customer success.
Bluware, the Houston, Texas-based oil industry software developer using AI, said it hired Alexandra Mouton as marketing manager. Bluware also acquired Norwegian machine learning company Kalkulo. (See M&A section)
NexTech AR Solutions, the Toronto, Canada-based AR company focused o marleting, said it appointed Ori Inbar to its advisory board. In March the company said it was acquiring two unspecified ecommerce companies.
Other board appointments include B-Yond, Tricolor, and eSilicon
Other deals include Greatwalle