The month of October again saw some investments in cloud, data and AI startups. Notable among them is Automation Anywhere, Inc., a global leader in robotic process automation (RPA), securing $200 million in financing from Silicon Valley Bank, SVB Capital and Hercules Capital, Inc.
Meanwhile, private equity firms continued the trend of snapping up technology companies that lost shares this year, with KnowBe4 Inc agreeing to go private in a $4.6 billion deal with Vista Equity Partners, the latest cybersecurity firm to be snapped up by private equity. In this year’s market downturn. In another billion-dollar deal, global digital identity leader ForgeRock has entered into a definitive agreement to acquire leading software investment firm Thoma Bravo in an all-cash transaction valued at approximately $2.3 billion.
Here’s a quick look at some of October’s funding deals and acquisitions in the cloud, data and AI space.
RPA Leader Automation Anywhere Raises $200 Mn Funding
Automation Anywhere, Inc. , a global leader in robotic process automation (RPA), has secured $200 million in financing from Silicon Valley Bank, SVB Capital and Hercules Capital, Inc. This financing is intended to provide operational and strategic capital for the next. Many years.
Security startup Arctic Wolf has raised $401 million in convertible debt
Cybersecurity company Arctic Wolf has raised $401 million in convertible notes led by existing investor Owl Rock, the latest example of late-stage startups seeking alternative financing to bridge the longer-than-expected gap between funding rounds and an initial public offering (IPO). The fundraising, which also involved Viking Global Investors, Ontario Teachers Pension Plan and Neuberger Berman, will help the company strengthen its balance sheet and fund potential acquisitions.
Singapore-based Insurtech secures Series B investment from BoltTech
BoltTech, one of the world’s fastest growing international insurtech companies, has announced that Tokyo Marine will lead BoltTech’s Series B funding round, along with other stakeholders. The investment values BoltTech, Singapore’s only homegrown insurtech unicorn, with an up-round valuation of around US$1.5 billion, a year after it closed the largest Series A funding round for insurtech.
WATI (WhatsApp Team Inbox) Raises $23M in Series B, Powering WhatsApp for Businesses in SEA
WATI (WhatsApp Team Inbox), a customer and sales engagement tool, has announced $23M Series B funding led by Tiger Global, in partnership with existing investors Sequoia Capital India & Southeast Asia, as well as new investors DST Global Partners and Shopify. This marks Shopify’s first venture investment in a startup operating in the Southeast Asian region. Series B comes hot on the heels of an $8.3M Series A round 10 months ago; In total, WATI has raised over $35M since 2020. WATI plans to use the Series B funding to scale teams, improve product and expand customer base in India and key markets.
Toku Announces Extending Series A Funding to $10M to Accelerate APAC Growth
Toku, Asia Pacific’s (APAC) dedicated cloud communications provider, has announced a US$5 million extension to its Series A round, bringing its total funding to US$10 million. The extended round was co-led by Delivery Hero Ventures and Malaysia’s OSK Ventures International, in partnership with Betatron Venture Group. Toku will tap on the new funding extension to rapidly establish a local presence in Malaysia, Indonesia, Hong Kong, Vietnam, South Korea and the Philippines. It aims to double the total number of employees to 200 by 2024.
ATS acquires APAC-based system integrator ZI-ARGUS
ATS Automation Tooling Systems Inc. announced that it has entered into a definitive agreement to acquire ZI-ARGUS (“ZIA”), a subsidiary of the Zuellig Group. ZIA is a leading independent automation systems integrator in the ASEAN region and Australia with a strong focus on process control, factory floor automation, data center and Industry 4.0 digitalization solutions. Financial terms of the transaction were not disclosed. ZIA will join ATS’ Process Automation Solutions (“PA”) business, a leading provider of complete automation solutions for the process and manufacturing industries. ZIA will significantly strengthen PA’s position in the region’s attractive high-growth automation and digitization markets with proven expertise for customers in Pharma, Food & Beverage, Consumer Goods, Petrochemical, Biochemical and Data Centers, while accelerating PA’s digitization journey. The transaction is subject to certain closing conditions.
Qualys Acquires Blue Hexagon’s AI/Machine Learning Platform
Qualys, Inc. (NASDAQ: QLYS), a pioneer and leading provider of disruptive cloud-based IT, security and compliance solutions, today announced that it has acquired the assets of Blue Hexagon. It brings AI/Machine Learning (AI/ML) to the Qualis Cloud Platform to help transform petabytes of highly aggregated data into meaningful insights for customers. The acquisition enables Qualys to leverage its powerful cloud platform and its more than 10 trillion data points to uncover behavioral patterns for proactive vulnerability exploitation, advanced network threat detection and adaptive risk mitigation across all assets and applications.
Endava has announced the acquisition of Lexicon, Australia
Endava (NYSE “DAVA”) announced the acquisition of Lexicon Digital Pty Ltd and Lexicon Consolidated Holdings Pty Ltd, headquartered in Melbourne, Australia (“Lexicon”). Lexicon is an Australian-based technology consulting, design and engineering firm that partners with clients to create new digital solutions or accelerate digital transformation programs across enterprise systems, products and IoT using an agile delivery methodology. The acquisition of Lexicon will enhance Mendava’s presence in Australia and provide a strong foundation for rapid growth in the market.
Capgemini acquired Quartzus to strengthen its capital markets service offerings
Capgemini has announced the acquisition of Quorsus, a UK-based firm specializing in consultancy services to financial institutions in post-trade technologies, operations, regulatory solutions and market infrastructure. Its specific industry focus and expertise enables Capgemini to further support its capital markets clients in addressing the need for strategic yet efficient operations across the trading lifecycle, in addition to increasing regulatory requirements.
Thomas Bravo to buy digital identity leader ForgeRock for $2.3 billion
ForgeRock, a global digital identity leader, has entered into a definitive agreement to acquire leading software investment firm Thoma Bravo for $23.25 per share in an all-cash transaction valued at approximately $2.3 billion. With this acquisition, Thoma Bravo looks forward to partnering with ForgeRock to leverage its deep sector expertise and support the company to capitalize on this exciting market opportunity.
Cybersecurity firm KnowBe4 to go private in $4.6 billion deal with Vista Equity Partners
KnowBe4 Inc has agreed to go private in a $4.6 billion deal with Vista Equity Partners, the latest cybersecurity firm to be snapped up by private equity in this year’s market downturn. KnowBe4’s stock lost nearly a quarter of its value in 2022 ahead of Vista’s proposal, as growth in hybrid work boosted demand for its platform, which allows businesses to host security awareness training with simulated phishing attacks. Private equity firms have snapped up technology companies whose shares have lost this year on worries about rising interest rates and an economic slowdown.
Australia’s cloud-based firm ELMO Software agrees to $A500 Mn takeover offer
Australia’s ELMO Software ( ELO.AX ) has agreed to a takeover bid of about A$500 million ($319 million) from Los Angeles-based K1 Investment Management. The US group paid A$4.85 per share in cash for its cloud-based software solutions business, which operates in Australia, New Zealand and the United Kingdom.
UserTesting to be acquired by Thoma Bravo and Sunstone Partners for $1.3 billion
UserTesting, Inc. (NYSE: USER), a leader in video-based human insights, has entered into a definitive agreement to be acquired by Thoma Bravo, a leading software investment firm, and Sunstone Partners for $7.50 per share in all cash. The transaction is valued at approximately $1.3 billion. After the transaction closes, Thoma Bravo and Sunstone Partners expect to combine UserTesting and UserZoom, with Thoma Bravo taking majority control in April 2022. Andy MacMillan, CEO of UserTesting, will lead the combined company. In addition, the combined company will benefit from the management capabilities, capital backing and industry expertise of Thoma Bravo and Sunstone Partners.
Google buys AI startup Avatar for $100 million
Google has acquired Alter, an artificial intelligence (AI) avatar startup company. TechCrunch reported that the tech giant bought the company for around $100 million. Alter helps creators and businesses create AI-powered virtual avatars to express their virtual identities. According to the report, the acquisition comes as part of upping the content game and competing with short-video platform — TikTok.