As we head into the final month of 2019, funding rounds and acquisitions in Atlanta continue to flood in. The city has already surpassed the dollar amount for total VC funding collected in Atlanta in 2018, so the remaining deals for the rest of the year are icing on the cake.
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Check out the most important mergers, acquisitions and investments from Atlanta technology companies from November 2019. Did we miss a deal? Let me know at mhogan@americaninno.com.
Atlanta-based investment firm BIP Capital closed on a new $101M venture capital fund to back startups here and throughout the country. According to a news release, the fund will be used in Series A and Series B rounds for B2B SaaS startups and tech-enabled services companies with a focus on enterprise SaaS, health care IT, digital media, dev tools and martech. BIP Capital, which primarily invests in companies in the southeast, will continue to invest in local companies and expand into the Midwest, where it has already made a few investments. The fund is comprised of capital invested by family offices, high-net-worth individuals and institutional investors. Currently, the VC firm has more than 30 companies in its portfolio.
Blue Ridge, an Atlanta-based SaaS company that specializes in supply chain planning and demand planning software, acquired Atlanta-based price optimization and analytics company Prolific Virtue. According to a news release, Blue Ridge plans to add price optimization to its suite of supply chain planning solutions.
Transitiv, an Atlanta-based programmatic customer data platform, raised $1.63M of a $1.75M round, according to a filing with the SEC.
Atlanta-based sales SaaS giant SalesLoft acquired Costello, an Indianapolis-based sales assistant software company. According to a news release, the acquisition will help SalesLoft serve revenue professionals of all levels, including sales development reps, account executives and sales leaders. In 2018, Costello raised $2M in a seed round from M25, Elevate Ventures and Dundee VC.
Illuminarium Experiences, an Atlanta-based “global experimental entertainment company” raised $14.2M of a $25.4M round, according to a filing with the SEC.
Sharecare, an Atlanta-based health and wellness platform, received an investment from Aflac Corporate Ventures, the corporate ventures arm of Aflac Incorporated. Financial details of the investment were not revealed.
LeaseQuery raised $40M in a Series A round from Goldman Sachs. Founder and CEO George Azih said the investment will primarily be used to continue the startup’s rapid growth and its mission to help accountants comply with the required accounting standards from the Financial Accounting Standards Board, the International Accounting Standards Board and the Governmental Accounting Standards Board. This is LeaseQuery’s first formal investment, having been bootstrapped since 2011.
FortifyData, a Kennesaw-based cyber risk platform, raised $1.3M in convertible notes, according to a filing with the SEC. Seventeen investors participated in the round. According to data from Crunchbase, FortifyData raised an undisclosed pre-seed round in 2018.
A Woodstock-based SaaS startup in the restaurant and hospitality space completed its $5M round. Popmenu, a customer engagement engine for restaurants, raised a $5M Series A round, according to a filing with the SEC. The platform helps restaurants control their menu in real-time to attract and engage customers. In 2018, the company raised a $585K seed round from unknown investors. Atlanta Inno reported earlier this year that the company was raising a $1M debt round.
According to Pro Rata, TPG and Providence Equity Partners are looking for a buyer for RentPath, an Atlanta-based digital marketing solutions.
Total Server Solutions, an Atlanta-based hybrid cloud and edge solutions company, raised $27.5M of debt funding from from Crestline Investors and $8M in equity from Layer 7 Capital, according to a news release. The company plans to use the funds to refinance its J.P. Morgan Chase credit facility and continue its growth.
Elavon, an Atlanta-based payments processor, acquired Sage Pay, a United Kingdom-based payments processor, for $300M. According to the Atlanta Business Chronicle, the acquisitions will help Elavon’s parent company U.S. Bancorp extend its market in the U.K. and Ireland. In 2018, Sage Pay reportedly had a revenue of $53M and operating profit of $19M. Sage Pay acquired its first Atlanta company, Peachtree Software, in 1999 and entered the U.S. market. The acquisition, payable in cash, comes out to about £232M or $300.6M.
Atlanta fintech firm NCR Corp. acquired POS Solutions, a point-of-sale and restaurant solutions provider in central Texas. To date, this is the fourth acquisition NCR has made in Texas. The acquisition will help NCR expand its restaurant technology reach.
Atlanta-based West Hill Global, a property claim process software company, raised $500K, according to a filing with the SEC. This is the second raise for West Hill Global this year, after completing a $2.5M round in April.
Silicon Valley-based private equity firm Silver Lake acquired Atlanta-based First Advantage, a global background check and drug screening company. According to the Atlanta Business Chronicle, terms of the deal were not disclosed. Symphony Technology Group sold First Advantage to Silver Lake. The transaction is set to complete by the first quarter of 2020. Senior management at First Advantage will keep their current roles. The company has offices in 27 locations and more than 4.3K employees.
