Week Ending 06.16.19
DOCUPACE TARGETS 2020 AI PRODUCT ROLLOUT
HOONUIT ACQUIRES DECISIONINSIT
FIVERR JUMPS IN TRADING DEBUT & STOKE REFILES IPO
TWO AI VENTURE CAPITAL FUNDS RAISE GBR 70M AND ATHENA SECURITY COMPLETES SEED ROUND
UK INVESTS IN AI EDUCATION
ONE NETWORK ENTERPRISES HIRES CFO
AND MORE ↓
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LATEST FROM EYE ON A.I.
Docupace, a digital services platform provider for the asset management industry, is targeting next year to launch an AI-based product for broker-dealers, CEO Mark Tapling says.
The Los Angeles, California-based company intends to anonymize the large raw pool of statistical data it has collected, much like the health care industry does with patient data, allowing clients a licensed platform where they can compare their business to targeted industry norms and averages.
“We’re evaluating the infrastructure now . . . [and] trying to figure out the most cost-effective way” to deliver the product, Tapling said. The neural networks the company plans to employ to calculate trend lines in the data is one area under development the CEO described as a “trickier” aspect of the service they are working through. Read More.
MERGERS AND ACQUISITIONS
Hoonuit, the Minneapolis, Minnesota-based educational services firm using AI, said it acquired DecisionInsit, an educational analytics company.
FILINGS
Fiverr International, the Tel Aviv, Israel-based online services marketplace using machine learning, saw its shares jump 90% on its first day of trading on the NYSE. The company raised USD 111m from the sale of 5.3m shares at USD 21 each, a dollar above the marketed price range.
Mohawk, the New York City-based consumer goods company using AI, raised USD 36m from a downsized initial public offering on the Nasdaq. The company sold 3.6m shares at a below range USD 10 each.
The company attempted to raise up to USD 53.28m from the sale of 3.3m shares at USD 14 to USD 16 each.
Change Healthcare, the Nashville, Tennessee-based healthcare technology firm using AI, said it is raising as much as USD 815m in an initial public offering of 42.9m shares at USD 16 to USD 19 each on the Nasdaq.
Stoke Therapeutics, the Bedford, Massachusetts-based company developing treatments for genetic diseases using machine learning, refiled for an up to USD 107.2m initial public offering on the Nasdaq of 6.7m shares at USD 14 to USD 16 each.
Other deals included Vitabilis and Hunter Maritime Acquisition
FUNDING
Adjust, the Berlin, Germany-based marketing software company using machine learning, said it raised USD 227m in a new round of funding led by Eurazeo Growth, Highland Europe, a unit of investment bank Morgan Stanley and Sofina.
Yanolja, the Seoul, South Korea-based online travel platform using AI, said it raised USD 180m in a Series D funding from GIC and Booking Holdings, bringing its current valuation to more than USD 1bn.
Rewired, the Lausanne, Switzerland-based robotics investment fund, attracted another GBP 79m (USD 99.5m) from Kohli Ventures Chairman Tej Kohli, according to an Eastern Eye report.
Crane, the London, UK-based venture capital firm, raised GBP 70m (USD 80.15m) for a new fund targeting early stage AI start ups, according to a Telegraph report.
Vade Secure, the San Francisco, California-based cybersecurity firm using machine learning, said it has entered a EUR 70m (USD 78.5m) financing agreement with General Catalyst.
RapidAPI, the San Francisco, California-based information technology marketplace using AI, said it raised USD 25m in a Series B financing led by Microsoft’s venture capital fund M12.
Pryon, the Raleigh, North Carolina-based business services firm using AI, raised USD 20m in a Series A, according to a WRALTechWire report.
Edgewise, the Burlington, Massachusetts-based cybrsecurity company using machine learning, said it raised USD 11m in a Series A led by .406 Ventures and Accomplice.
Aquabyte, the San Francisco, California-based fish farm operator using machine learning, said it raised USD 10m in a Series A led by Costanoa Ventures and New Enterprise Associates.
Athena Security, the Austin, Texas-based security camera company using AI, said it raised USD 5.5m in a seed funding round led by Pathfinder, the angel investment arm of Founders Fund.
Bellwethr, the Wamego, Kansas-based markting platform using machine learning, said it raised USD 2.5m in a seed funding round led by Royal Street Ventures.
Osmosis, the Baltimore, Maryland-based health education platform using machine learning, said it raised an unspecified amount in a Series A led by Felicis Ventures.
LEGAL AND REGULATORY
The UK government is investing GBR 18.5m (USD 23.3m) in AI education, according to a report in Analytics Insight.
PEOPLE
One Network Enterprises, the Dallas, Texas-based supply chain company using AI, said it hired veteran Robert Curry as CFO.
SkySpecs, the Ann Arbor, Michigan-based company using robots to check wind energy sites, said it hired Patrick Siep as vice president of sales for the European and Latin American market.
Digilant, the Boston, Massachusetts-based digital marketing company using AI, said it hired former Microsoft executive Vartanyan as vice president, search marketing.
Monetate, the New York City-based marketing software company using AI, said it hired Lisa Kalscheur as the chief marketing officer. In March, the company hired Richard Rivera as chief revenue officer and brought former AppNexus executive Brandon Atkinson in as COO in January.
SCWorx, the New York-based online platform using AI, said it hired veteran healthcare leader Tad Schweikert, as chief operating officer.
TalentSeer, the Sunnyvale, California-based human resources platform using AI, said it hired Margaret Laffan as vice president of business development.
Hitachi Vantara Federal, the Reston, Virginia-based government data services company using AI, said it hired Dr. Pragyansmita Nayak as chief data scientist. The company is a unit of Japan’s Hitachi.
And AI may wipe out 20% of existing jobs today over the next five years, according to a KPMG study cited in a report in The Telegraph.