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Check out the most important mergers, acquisitions, partnerships and investments from Atlanta technology companies from October 2018. Know of a name that’s missing from this list? Email mhogan@americaninno.com
Surterra Wellness, an Atlanta-based medical cannabis company, raised $54.6 million in debt, according to a filing with the SEC. The company gained notoriety earlier this year after raising $65 million in a Series C equity round led by chewing gum billionaire William “Beau” Wrigley, Jr. II.
A technology company in Atlanta, Cyber List, LLC formerly known as Sable Lion Cyber, LLC, raised a total of $155,000 in funding, according to a filing with the SEC.
Atlanta’s Purchasing Power, an employee purchase program offered as a voluntary benefit, acquired DoubleNet Pay, Inc., an Atlanta-based fintech startup. According to Purchasing Power representatives, the acquisition closed on Sept. 28 and is the first acquisition for the company. By purchasing the software technology assets of DoubleNet Pay, the company plans to provide automated savings and bill-paying to its U.S. employers and their employees. DoubleNet Pay has closed its Atlanta-based operations as a result of the acquisition, according to a company representative. DoubleNet Pay CTO Bret Levy and co-founder Cody Laird have taken roles at Purchasing Power, while the remaining 12 employees have found work elsewhere. DoubleNet’s founder and CEO Brian Cosgray is pursuing another opportunity that he has not disclosed.
Atlanta-based fintech giant NCR, Corp. acquired a Pennsylvania-based provider of end-to-end payment processing services, JetPay, for $184 million. With the acquisition, the company stated it hopes to enter the payments processing business and integrate a cloud-based payments platform into its point-of-sale technology for the retail and hospitality industries, according to the Atlanta Business Chronicle.
Atlanta’s LiveSource, a provider of supply chain management software, raised $7.4 million in funding, according to Term Sheet. Fulcrum Equity Partners led the round. Other investors included IDEA Fund Partners, Alerion Ventures, Knoll Ventures and Tamiami Angel Funds, in addition to several individual investors. According to Crunchbase, this looks like their first funding.
Springbot, an Atlanta-based data-driven marketing platform for e-commerce retailers, closed $15 million in funding led by North Atlantic Capital. The round included participation from existing investors TechOperators, TTV Capital, Harbert Growth Partners, TechSquare Labs, Forte Ventures and Silicon Valley Bank. CEO and co-founder Brooks Robinson said the company, which launched in 2012, will use the funding to develop more innovative solutions to support small to midsized e-commerce retailers.
brrr°, a startup clothing company designing cooling fabric technology that combines natural minerals with active wicking and rapid drying, announced at Venture Atlanta that the company plans to raise $3-5 million in equity funding. “We appreciate this opportunity to introduce brrr°’s growth story as a disruptive innovator in cooling fabric technology to investors across the Southeast and beyond,” Mary-Cathryn Kolb, founder and CEO of brrr°, said in a statement prior to her announcement at Venture Atlanta
Sequr Inc., an cloud-based control management platform in Atlanta, raised about $600,000 in equity funding, according to a filing with the SEC. This brings the company’s total amount of funding raised to $2.7 million, Crunchbase reports.
Qoins, an Atlanta-based mobile app that helps users with paying off their debts in small increments, raised $760,000 in debt funding, according to a filing with the SEC. Co-founder and CEO Christian Zimmerman said the funding would be used for new hires in customer and developer departments and growth of the startup’s userbase.
Connected Analytics, an information technology and services company based in Cumming, raised $500,000 in equity funding from 17 investors, according to a filing with the SEC.
Mailchimp, in partnership with Clayton State University, launched a training leadership academy geared to help prepare students and faculty for the changing tech world and encourage new tech leaders. The unicorn email marketing platform has invested $300,000 over the course of three years to form Launchpad Academy. Students in the program will be able to apply for $25,000 in scholarships and the remaining $275,000 will help develop the academy.
PolyPort, an Atlanta-based 3D asset protection platform that provides design protection, tracking, and management for digital asset creators and owners, raised $885,000 of a $1.2 million round for debt and other securities from nine investors, according to a filing with the SEC.
Johns Creek-based Bomgar, a portfolio company of Francisco Partners, completed its acquisition of Phoenix-based provider of privilege-centic access management solutions BeyondTrust from Veritas Capital.
Axion Biosystems, Inc., an Atlanta-based biotech company, successfully raised about $8 million, according to a recent filing with the SEC.
Invistics, an Atlanta-based provider of advanced healthcare inventory visibility and analytics software, was awarded a National Institutes of Health supplementary grant, which will aid in expanding the company’s drug diversion program. According to a news release, the program leverages machine learning and advanced analytics to detect opioid and drug theft across hospitals and systems, improving patient safety, reducing financial risk and protecting healthcare workers. The company did not disclose the amount of the grant.
Katherine Ehrlich, assistant professor in the University of Georgia’s Franklin College of Arts and Sciences department of psychology, was awarded the National Institutes of Health Director’s New Innovator Award. Ehrlich’s research project, which seeks to determine whether stressful life experiences have a more immediate effect on children’s health, will be funded with $2.3 million from the NIH. Read more here.
HopGistics, an Atlanta-based keg and logistics startup, raised $650,000 in debt, according to a filing with the SEC.
Atlanta’s Baker Street Scientific, a relevance-driven data technology company that produces intelligence for decisions that impact operations, raised $800,000 in debt.
Optima Healthcare Solutions, an Alpharetta-based provider of cloud-based solutions for post-acute care providers, acquired Vantage Clinical Solutions, an Oregon provider of revenue cycle management and digital marketing services for physical therapy practices, according to a news release.
The Yellow Jackets are stepping up their 3D printing game. The FDA awarded grants to five research institutes, including Georgia Tech, for the study and improvement of biomanufacturing, including 3D bioprinting. Georgia Tech was awarded $600,000 out of the $2.6 million grants.
