| |
In today's Daily Pitch, you'll find: - An analysis of what's driving demand for beverage robots and how VCs are fueling the trend.
- VC funding for Utah-based startups has nearly doubled since last year. Which startups made our list of top deals?
- Our analysts explore why VCs are continuing to bet big on insurance tech, including a look at investment opportunities in the space.
| | | | | |
|
| |
| Beverage robots drink up VC funding | |  | | (Westend61/Getty Images) | | | The hospitality industry has always been characterized by high attrition rates, but labor shortages have disproportionately affected it during the pandemic. The sector is now turning to beverage robots that can help restaurants streamline operations, maintain target service levels and offer new services via precision automation.
Our latest analyst note explores major trends driving the demand for beverage robots and provides an overview of emerging VC-backed startups in the nascent industry, including Botrista, Cafe X and Somabar. | | | | | | | | | | Insurtech VC backing tops $4B—again | | The insurance tech industry has many large incumbents, but the sector continues to remain fragmented due primarily to local regulations in several countries.
This fragmentation represents a key opportunity for insurtech startups to compete directly with traditional insurance carriers by using emerging technologies such as predictive analytics, telematics and application programming interfaces.
Our Q3 2021 Emerging Tech Research report on insurtech breaks down a strong quarter for the sector—the second time on record that VC funding for the space has surpassed $4 billion globally. Our analysts also explore opportunities in digital life insurance products, and how insurance-linked securities are expected to grow through online marketplaces. | | | | | | | |
|
| |
| Board diversity: Is it really improving for women? | | Boardroom diversity is top of mind for public companies. For startups, however, it often takes a backseat to survival. In partnership with PitchBook, J.P. Morgan has released a first-of-its-kind benchmarking study on gender diversity in startup boardrooms. At first glance, the numbers show improvement. But a closer look reveals something else.
Around 2018—when California mandated board diversity and the #MeToo movement began to take hold—there was an industrywide reaction: Startups added more women to their boards. And while that is progress, many companies simply placed current female employees on their boards instead of independent directors. The data also shows that many startups rush to appoint their first female directors shortly before going public.
Download the report and get actionable insights from J.P. Morgan. | | | | | | | |
|
| VC funding for Utah startups doubles in 2021 | |  | | (James O'Neil/Getty Images) | | | Investors have funneled more than $3.4 billion into Utah-based companies across 165 deals so far this year, nearly double the capital invested in all of 2020, according to PitchBook data.
The latest deal comes from business software provider Podium, which announced Monday that it has secured $201 million at a valuation of more than $3 billion. What other Utah-based startups made our list of top deals? | | | | | | | | | | KKR, GIP land CyrusOne in largest public-to-private deal of 2021 | |  | | (Jasmin Merdan/Getty Images) | | | KKR and Global Infrastructure Partners have agreed to take data center designer and operator CyrusOne private for approximately $15 billion, marking the largest private equity bet on data real estate this year. - The two private equity firms will pay $90.50 per share for Dallas-based CyrusOne, reflecting a 25% premium to the company's closing stock price Sept. 27.
- The public-to-private deal is the largest this year, topping the week-old record held by security software company McAfee, which on Nov. 8 announced plans to be taken private for over $14 billion by an investor group including Advent International.
- CyrusOne operates more than 50 data centers in North America, South America and Europe. The largest of the company's about 1,000 customers, Microsoft accounted for 19% of CyrusOne's total revenue in 2020.
| | | | | | | | | | Big retailers are scooping up logistics companies to try to control the supply chain. [Bloomberg]
How China's new stock exchange is meant to channel funds into innovative startups with high growth potential. [The Wall Street Journal]
Officials in Ukraine are hoping cryptocurrency can boost their economy and overhaul the country's image. [The New York Times] | | | | | |
|
| |
| | Since yesterday, the PitchBook Platform added: | | 455 Deals | 1476 People | 410 Companies | 42 Funds | | | | | | |
| |
| |
| |
| |
| |
| |
| 2016 Vintage North American PE Funds | | | | | | |
|
| |
| |
| Nigeria's TeamApt seeks funding at $1B+ valuation | | | TeamApt is planning to raise $150 million at a more than $1 billion valuation, Bloomberg reported. The Lagos, Nigeria-based company is the developer of a digital banking and payment platform. TeamApt plans to use the funding in part to expand operations across Egypt and Ghana. | | | | | | | | ThoughtSpot secures $100M Series F | | | ThoughtSpot has raised $100 million at a $4.2 billion valuation in a round led by March Capital. Lightspeed, Snowflake Ventures and others also supported the funding. The Sunnyvale, Calif.-based company is the creator of a business intelligence and big data analytics platform. | | | | | | | | Zoomo rides off with $60M | | | Zoomo, a creator of electric vehicles for last-mile delivery, has raised a $60 million Series B led by Grok Ventures. Skip Capital, ArcTern Ventures, AirTree Ventures and other investors also participated. Operating in Australia, the US and Europe, the micromobility startup provides fleet management and delivery solutions, software, servicing and more. | | | | | | | | Netography picks up $45M for network security platform | | | Netography has raised a $45 million Series A co-led by Bessemer Venture Partners and SYN Ventures. The Maryland-based company operates a security platform that detects and manages threats in atomized networks. Netography has also added two senior executives to its management team. | | | | | | | | | | | | | | | Writer logs $21M Series A | | | Writer, the creator of an AI-based writing assistant for professionals, has collected a $21 million round led by Insight Partners, with support from Gradient Ventures, the Todd & Rahul Angel Fund and a multitude of angel investors. The startup's tech is used by companies for marketing, brand compliance, content strategy and more. Writer raised a $5 million seed round in August 2020. | | | | | |
|
| |
| |
| Durational Capital Management to take Casper Sleep private at $6.90 a share | | | Durational Capital Management has agreed to take mattress and sleep product company Casper Sleep private for $6.90 a share, representing a 94% premium to the company's closing share price Nov. 12. Casper went public in 2020, pricing its IPO at $12 apiece and debuting on the NYSE at $14.50 a share. | | | | | | | | PE may look to carve up General Electric | | | Private equity buyers are hoping to acquire different GE assets in the wake of the conglomerate's decision to split into three companies, the Financial Times reported, citing investor interviews. The breakup of GE, expected to be completed in 2024, will see the formation of three individual companies focused on healthcare, aviation and energy, but the lengthy timeframe of the carveouts will likely give interested buyers a chance to snap up attractive units, according to the report. | | | | | | | | TSG Consumer buys Super Star Car Wash | | | TSG Consumer Partners has acquired a majority stake in Super Star Car Wash, a Phoenix-based family-owned car wash operator. Founded in 1993, Super Star Car Wash currently has 35 locations throughout Arizona and California. The chain also plans to open locations in Colorado in 2022. | | | | | | | | Graphite Capital acquires Opus Talent Solutions | | | Graphite Capital has acquired Opus Talent Solutions, a recruitment business specializing in the technology and renewable energy markets. Opus Talent serves more than 1,000 clients in over 50 countries. | | | | | | | | Great Hill backs marketing platform | | | Great Hill Partners has invested in Prodege, a Los Angeles-based marketing and consumer insights platform. Founded in 2008, Prodege's marketing, data, and research solutions enable brands to target their core audiences, acquire new customers and more. | | | | | |
|
| |
| | PitchBook for Dealmakers is built for those investing in, acquiring or advising on private market transactions.
Today's markets are in a constant state of flux, and dealmakers need insights spanning the public and private markets to be effective in their work. To that end, it's vital for dealmakers to have access to both best-in-class data on private companies and broad fundamental public data. Dig into our guide to learn more about PitchBook's utility for dealmakers—from our unmatched capital market coverage to our in-depth reports, collaboration tools and more.
Get the PitchBook for Dealmakers guide | | | | | | | |
|
| |
| GIP inks $2.5B Freeport exit | | | | | | | | | SPX to pick up Cincinnati Fan from Dominus | | | | | | | | | Prelude sells Sol de Janeiro stake | | | | | | |
|
| |
| Carlyle seeks up to $10B for Asia fund | | | The Carlyle Group is targeting between $8 billion and $10 billion for its sixth Asia-focused flagship fund, Private Equity International reported. The vehicle is expected to launch early next year. Carlyle closed its fifth such fund on $6.55 billion in 2018. | | | | | | | | NEA targets $3.7B for latest fund | | | NEA is hoping to raise $3.7 billion in commitments for its NEA 18 Venture Growth Equity vehicle, according to an SEC filing. The firm, which closed its 17th flagship fund on $3.6 billion in March 2020, typically targets investments in the tech and healthcare sectors. The Wall Street Journal reported last month that NEA is also targeting just under $3 billion for an early-stage vehicle. | | | | | |
|
| |
"Through Q3 2021, European VC pre-money valuations paced to record peaks at each quartile and across all financing stages. Valuations increased from record figures logged in 2020, as a variety of records including overall deal and exit value have already been broken in the European VC ecosystem in 2021."
Source: PitchBook's Q3 2021 European VC Valuations Report | | | | | |
|
No comments:
Post a Comment