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, partnerships and investments from Atlanta technology companies from February 2019. Did we miss a deal? Let me know at mhogan@americaninno.com.
Atlanta-based software company Ionic Security Inc. raised $40 million in Series E funding. JPMorgan Chase & Co. led the round, followed by investors Google LLC (a subsidiary of Alphabet Inc.), Klenier Perkins, GV, Icon Ventures, Meritech Capital and Atlanta-based TechOperators and Ten Eleven Ventures.
86 Borders, LLC, a platform as a service for managing groups, raised about $62,000 of a $400,000 round, according to a filing with the SEC.
Sideqik, an Atlanta-based influencer marketing and social engagement platform, raised $5 million in a Series A round from Jackson Square Ventures and Fuqua Capital. Co-founder and CEO Jeremy Haile said the investment will go towards accelerating innovation within Sideqik’s AI-driven intelligence platform to help customers better understand their market, competition and consumers.
Roadie, an Atlanta-based on-the-way delivery service, raised a $37 million oversubscribed Series C funding round, bringing the startup’s total funding to $62 million. Investors in the round include The Home Depot, Warren Stephens and Eric Schmidt’s TomorrowVentures. The funding announcement follows Roadie’s recent delivery partnerships with Delta Air Lines, The Home Depot and Walmart. The startup now delivers in 224 metro areas around the nation and up to 100 miles around every major city.
Pensare, an Atlanta-based holding company that went public 18 months ago, agreed to acquire Los Angeles-based TPx Communications, a provider of unified communications and cloud-focused managed IT services. According to a news release, the combined company’s enterprise value will be $1.1 billion. Once the transaction is complete, Pensare will change its name to TPx Corp.
Haste, an Atlanta-based company that makes Internet optimization software for gamers, raised about $875,000 of a $2 million round, according to a filing with the SEC.
Atlanta-based Pointivo, a software company that utilizes AI and computer vision to provide automated analytics for drone and other aerial platforms, raised $7 million in a Series A round led by local VC firm BIP Capital. Pointivo’s platform automates the heavily manual processes around inspecting and assessing physical assets in the insurance, roofing, solar, telecom and energy industries.
Cove.tool, an Atlanta-based SaaS startup and an automated building performance consultant for architects, has raised about $750,000 in funding, according to a filing with the SEC. The new money brings their total amount raised to $1.6 million.
SIP.US, an Alpharetta, Ga.-based provider of enterprise IP communications software, was acquired by BCM One, a New York-based portfolio company of Thompson Street Capital Partners. Financial terms of the deal were not disclosed.
IDology, a provider of ID verification and fraud protection services, was acquired by U.K.-based GBG, an Identity Data Intelligence specialist, for $300 million in an all-cash transaction. According to a news release, the entire senior management team and base of IDology will join GBG. IDology specializes in helping onboard customers while defending against fraud.
Computer maker Dell Technologies Inc is reportedly thinking about a deal—specifically the sale of Atlanta-based SecureWorks Corp, a provider of cybersecurity services, according to Reuters. Morgan Stanley is in the early process of selling the entire company, sources told Reuters. SecureWorks offers information security solutions aimed at protecting corporate networks from cyberattacks and is estimated to have a market value of $2B. Dell acquired the company in 2011 for $612 million, then put SecureWorks on the stock market in 2016.
Mailchimp, an Atlanta-based marketing platform for small business, acquired local startup Sawa, an automated graphic design platform. Founded in 2017, Sawa received small amounts of funding from local accelerators and bootstrapped the rest of its funding. Sawa’s founder and sole employee, Francis Tao, will join the Mailchimp team as a senior product manager to integrate Sawa’s technology into their platform.
BV Investment Partners acquired Atlanta-based Intelliteach, a provider of tech enabled, business process outsourcing solutions for law and accounting firms, from Dominus Capital, L.P., according to a news release. Financial details were not disclosed.
The Metropolitan Economic Development Council of Minneapolis awarded Atlanta startup SquarePac $100,000 in a mission to give away $1 million to minority tech entrepreneurs across the nation, according to a news release. SquarePac uses design and metal fabrication to create solutions that help clients maximize space, reduce freight, save money and promote safety. The council’s million dollar challenge helps combat the disparity of success between minority and non-minority small businesses.
Atlanta-based Rented.com has raised about $5.5 million of a $7.95 million round from 15 investors, according to a filing with the SEC. The company offers a marketplace connecting vacation, second home and investment property owners with short-term professional rental managers.
Atlanta fintech startup SmartPath announced it has landed a $2.1 million round of funding led by Boston-based VC firm PJC. Other investors in on the deal include TTV, Y-Combinator and angel investors. SmartPath, founded by Alok Deshpande, has developed a platform that helps large businesses give employees customizable financial wellness solutions. The company has certified coaches to help employees who want some guidance with simple steps to budget, crush debt and plan for big life events like buying a home and retiring.
