Financial deals, mergers and acquisitions in the tech ecosystem are mentioned daily in the Atlanta Inno Beat newsletter, along with insights on how personnel moves may impact a startup’s future. Sign up for the Beat to get it each day in your inbox.
Check out the most important mergers, acquisitions and investments from Atlanta technology companies from April 2020. Did we miss a deal? Let me know at mhogan@americaninno.com.
SingleOps, an Atlanta-based business management software startup that caters to the green and outdoor services industry, raised $6M in a Series B round led by growth equity firm Five Elms Capital. Ryan Mandl, a partner at Five Elms, joined the SingleOps board of directors. The funding will primarily be used for hiring across teams — including in software engineering, customer success and sales — SingleOps President Taylor Gould said.
Amblyotech, a Marietta, Ga.-based developer of digital technologies designed to treat lazy eye, was acquired by Novartis, a Swiss drugmaker. According to Reuters, Novartis invested in Amblyotech last year. Terms of the deal were not disclosed.
Rodio, Inc., an Atlanta-based communications platform and integration hub, raised $500K of a $1.2M round, according to a filing with the SEC. Rodio’s platform is designed to connect dispersed workers to the people and the systems they need to successfully complete their jobs, according to a news release. It specializes in bringing workforce solutions to companies in the retail, manufacturing, health care and hospitality industries.
UnBoxt, an Atlanta-based startup that creates tools to help companies retain employees and enhance employee experiences, joined the ranks with eight other startups to receive a V4 investment from Indie.VC. Indie.VC is a program designed to be “the last investment our founders need to take.” According to a post on the investments, the startups’ average revenue for 2019 was about $410K. The average investment check doled out was $400K. The startups were chosen from just under 500 startups that applied within Indie.VC’s 24-hour application window.
Envistacom, an Atlanta-based company that specializes in communications, cyber and intelligence operations, announced it has received a $47.8M, three-year award to support the Deployable Ku Band Earth Terminal program managed by the U.S. Army’s Product Manager Satellite Communications. DKETs allow the Army to send and receive secure, reliable communications. According to a news release, Envistacom will provide installation, training, relocation, integration and upgrades on the secure-network hub solutions.
Two health-record management software companies have announced a merger. ScanSTAT Technologies, based in Alpharetta, and DataFile Technologies, based in Kansas, will combine to form the largest founder-owned release of information company in the country, according to a news release. The companies will combine their operations this year and employ more than 800 people nationwide. Terms of the deal were not disclosed.
Flock Safety, an Atlanta-based neighborhood surveillance startup that helps report crime to police departments, raised $15.8M in funding, according to a filing with the SEC. The funding was collected from 13 investors. Atlanta Inno reached out to Flock Safety for a story on the raise, but were told the startup was not providing comment at this time. Here’s our latest profile on the startup.
Softgiving, an Atlanta-based fundraising platform, raised more than $200K for COVID-10 relief during a 28-hour charity stream event. The startup partnered with a video game streamer Edwin Castro to hold the online charity stream to benefit three charities. The fund includes $100K from Castro himself, who is known for his skill in the soccer video game FIFA. All the proceeds will go toward Direct Relief, GlobalGiving and No Kid Hungry, according to a news release.
Atlanta fintech giant NCR Corp. announced that it will borrow $400M for working capital and general corporate purposes during the pandemic. According to the Atlanta Business Chronicle, 21% of the company’s retail segment has taken a significant hit due to the temporary closure of small and medium businesses. A company spokesperson told the paper NCR is looking to cut costs and keep liquidity high.
An Atlanta-based startup that uses technology to track items and merchandise throughout the supply chain journey closed a funding round. LocatorX raised $6.6M from angel investors to support product development and expansion in sales and marketing positions. The round brings the company’s total funding raised to about $10M. In addition to the funding announcement, LocatorX also appointed former UPS CFO Kurt Kuehn to its board of directors. CEO Scott Fletcher said the company’s technology has broad applications, which has attracted several investors and veteran board members like Kuehn.
Speedscale, an Atlanta-based startup that helps companies test applications, raised $300K in equity funding, according to a filing with the SEC.Ken Ahrensis the founder of Speedscale.
Simetric, an IoT SIM management company based in Cumming, has raised about $3M of a $3.3M round, according to an SEC filing. Simetric was previously known as Connected Analytics.
A Georgia Tech graduate and entrepreneur has made a deal with “Shark Tank” investor Mark Cuban. On a recent episode of the show, the Dallas Mavericks owner offered Krystal Persaud $150K for 25% of her company Grouphug, according to the AJC. The startup sells solar panels for consumers and businesses that are pleasing to the eye. The framed window solar panel provides USB power for any electronic device. Persaud currently resides in Brooklyn.
RoadSync, an Atlanta-based digital payment platform for the transportation industry, has raised $5.7M in a Series A round led by Base10 Partners. Previous investor Hyde Park Venture and Companyon Ventures also participated in the round. According to RoadSync CEO Robin Gregg, the funding will primarily be used for hiring in engineering and sales, while also aiding in the expansion of the startup’s current service offerings. The new round brings the startup’s total funding raised to just under $10M.
