Week Ending 10.06.19
EYE ON A.I. GETS READERS UP TO DATE ON THE MOST CRITICAL FUNDING, CORPORATE AND REGULATORY NEWS WITH ORIGINAL CONTENT AND MEDIA REPORTS FROM AROUND THE GLOBE.
This week we kick off our weekly corporate finance newsletter focused on AI with our interview of Namaste CEO Meni Morim, who talks about the path forward for his industry and company.
Next up is about a dozen mergers and acquisitions, four equity capital markets filings, 16 funding rounds, a couple US and Malta government moves on AI and another dozen executive moves.
Companies we have tracked over the past year in the news this week include OJO Labs, which made a second acquisition in 12 months, Infogain, which made an acquisition after a string of hires, and AntWorks, which brought in another executive.
See all of this and more below ↓
New Namaste CEO Meni Morim
Latest Original Content from Eye on A.I.
New Namaste CEO remains focused on rapid growth and acquisitions
Company seeks replication of traditional medical prescription process as it moves beyond tough period. Read our conversation with Meni Morim here.
MERGERS AND ACQUISITIONS
4Subsea, the Asker, Norway-based energy production industry services provider using AI, said it acquired Subsea 7, an offshore oilfield services provider.
OJO Labs, the Austin, Texas-based real estate technology firm using AI, said it acquired RealSavvy, a property platform for realtors.
In July OJO hired Chris Heller as chief real estate officer and Karen Starns as chief marketing officer. The company in October last year hired former Google executive Peter Kappler as chief technology officer and Qingqing Ouyang as executive vice president of engineering. The company also acquired WolfNet Technologies, the real estate data company, in October last year.
Alithya, the Montreal, Canada-based business services firm, said it acquired AI company Matricis Informatique.
Tesla, the Palo Alto, California-based electric car maker, said it acquired computer vision company DeepScale, according to a TechCrunch report.
Sikich, the Chicago, Illinois-based accounting and advisory firm using AI, said it acquired NexGen Consultants.
Kong, the San Francisco, California-based machine learning firm, said it acquired Insomnia, a debugging tool.
ReliaQuest, the Tampa, Florida-based cybersecurity firm using machine learning, said it acquired Threatcare.
Infogain, the Los Gatos, California-based IT consultancy using AI, said it acquired Silicus Technologies.
In May Infogain hired former Wipro and Oracle executive Jitinder Sethi as vice president of strategic solutions & chief enterprise architect. In September last year it hired former Wipro executive Kulesh Bansal as CFO.
abeo, the Irving, Texas-based medical billing company, said it acquired Trusted i10, an AI-focused medical records firm.
Lantheus, the North Billerica, Massachusetts-based medical imaging company, said it acquired medical AI firm Progenics.
InsightSquared, the Boston, Massachusetts-based marketing firm using AI, said it acquired Olono.
Other deals include CellaVision, Verisk and Q2 Holdings
FILINGS
Youdao, the Hangzhou, China-based educational company using machine learning, said it is raising USD 300m. The company is unit of online gaming company Netease.
AVRA Medical Robotics, the Orlando, Florida-based company developing AI for plastic surgery, said it is selling shares with warrants currently valued at USD 22m.
Telemynd, the Mission Viejo, California-based mental health company using AI, said it is raising as much as USD 10m from the sale of 1.55m at between USD 5.50 to USD 6.50.
Accel Robotics, the San Diego, California-based company developing autonomous shopping systems, said it has raised USD 6m as part of a larger USD 30m fund raising.
Other deals include Ecoark
FUNDING
Snaplogic, the San Mateo, California-based data company using AI, said it raised USD 72m in an unspecified financing round led by Arrowroot Capital.
Kenna Security, the San Francisco, California-based cybersecurity company using machine learning, said it raised USD 48m in a Series D funding round led by Sorenson Capital and the venture capital unit of Citigroup.
Digit, the San Francisco, California-based personal finance company using machine learning, said it raised USD 27.5m in Series C funding led by General Catalyst. Venture capital funds run by Google and Citigroup also participated.
Recurly, the San Francisco, California-based subscription services company using machine learning, said it raised USD 19.5m in new funding led by F-Prime Capital.
XMOS, the Bristol, UK-based voice technology company using AI, said it raised USD 19m in an equity and debt financing round that included Harbert European Growth Capital.
OSARA, the San Francisco, California-based robotics software developer using machine learning, said it raised USD 16m in a Series B funding that included King River Capital and Founders Fund.
SenSat, the London, England-based AI company focused on infrastrucure, said it raised USD 10m in Series A funding led by China’s Tencent.
IOTAS, the Portland, Oregon-based home management company using machine learning, said it raised USD 8.5m in a Series A led by TELUS Ventures. Intel’s venture capital unit also participated.
Waycare, the Los Angeles, California-based transportation management company using AI, said it raised USD 7.25m in a Series A led by SJF Ventures, according to Venture Beat report.
Gradient AI, the Cambridge, Massachusetts-based insurance software developer using AI, said it raised USD 6m in a Series A financing led by Forte Ventures and Sandbox Insurtech Ventures.
Streamlit, the San Francisco, California-based machine learning company, said it raised USD 6m in a seed funding round led by Gradient Ventures, according to a TechCrunch report.
BurstIQ, the Denver, Colorado-based healthcare software developer using AI, said it raised USD 5.5m million in a Series A led by Elsewhere Partners.
Diligent Robotics, the Austin, Texas-based developer of hospital robots, said it raised USD 3m in seed funding led by True Ventures.
Jobpal, the Berlin, Germany-based recruitment company using machine learning, said it raised €2.5m (USD 2.7m) in seed funding led by InReach Ventures and Acadian Ventures.
Autify, the San Francisco, California-based software company using AI, said it raised USD 2.5m in a seed funding that included Global Brain, SalesForce Ventures, and Archetype Ventures.
Percipient.ai, the Sunnyvale, California-based AI focused on national security, said it raised an undisclosed amount in a Series B that included Lupa Systems, Venrock and Valor Equity Partners.
LEGAL AND REGULATORY
The US House of Representatives is formally investigating the military and private use of facial recognition, according to a report carried on Medium.
The government of Malta launched a national AI strategy and said it aims to ensure that benefits are brought to all segments of society, according to a report in the Independent.
US Energy Secretary touts efforts to develop AI.
PEOPLE
Sensydia, the Los Angeles, California-based company developing treatments for heart disease using machine learning, said it hired former Boston Scientific executive Anthony Arnold as CEO and president.
BMC, the Houston, Texas-based business services firm using AI, said it hired former Cisco executive Ayman Sayed as president and CEO.
Decibel, the London, U.K.-based business services firm using machine learning, said it hired Shane Phair as chief marketing officer.
Kyriba, the San Diego, California-based financial services company using AI, said it hired former EY executive Paul Bramwell as chief client officer.
Petriage, the Bellevue, Washington-based animal healthcare firm using AI, said it hired Gary Watson as chief technology officer.
AntWorks, the Palo Alto, California-based AI services firm, said it hired Hugo Walkinshaw as chief partnership officer. Last month the company hired Mike Hobday as senior vice president for Europe.
In November, the company hired Emma Beaumont as chief marketing officer. In August last year, the company raised USD 15m in a Series A from Japanese venture capital fund SBI.
Conifer Health, the Frisco, Texas-based healthcare services company using AI, said it hired former Arthur Andersen executive Jeff Jones as chief commercial and strategy officer.
Celonis, the Munich, Germany-based business software company using machine learning, said it hired former SAP executive Hala Zeine as chief product officer.
Teletrac Navman, the Graden Grove, California-based business services company using AI, said it hired former Cisco executive Jens Meggers as president.
Label Insight, the Chicago, Illinois-based marketing firm using machine learning, said it hired Tim Whiting as vice president of marketing.
Ordr, the Santa Clara, California-based AI company, said it hired former Cisco executive Anthony Dumont as vice president of worldwide sales.
Neustar, the Sterling, Virginia-based cybersecurity firm using machine learning, said it hired Brian McCann as executive vice president and president of security solutions, and Lee Kirschbaum as senior vice president of communications solutions and corporate business development.
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