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November 11, 2020

Cyndx Insights is your daily window to the business world, focusing primarily 
on M&A activities, capital markets, and important technology trends.

Daily Insights provides global business coverage and categorizes
financial news from U.S.Europe and Asia.

U.S. & Canada

Goldman Sachs Increases Music And Culture Outlook To The Tune Of $142B

Streaming platforms take center stage in Goldman Sachs latest music revenue report, which estimates it’s going to more than double to about $142 billion by 2030, far surpassing 2019s $77 billion. Read more on Forbes.com
Image: Africa Studio / Shutterstock.com

TA Associates and TPG To Acquire Planview from Thoma Bravo, for $1.6 B

TPG Capital and TA Associates are to acquire Planview, a provider of Portfolio Management and Work Management solutions, for a purchase price of $1.6 billion.  Thoma Bravo, which will retain a minority interest in the company.

Read more on Finsmes.com

Image: Panchenko Vladmir / Shutterstock.com

Better.com Snags $200M for $4B valuation

Online mortgage lender Better.com revealed it raised $200 million in a series D financing that put the startup at a $4 billion valuation.  Investors in this round that included Activant Capital, Ally Financial, American Express Ventures, Ping An and 9Yards Capital. Read more on Housingwire.com

Image: a-image / Shutterstock.com

Spotify is acquiring podcast hosting company Megaphone for $235M

Spotify’s making another big podcasting acquisition. This time, it’s buying podcast hosting company Megaphone for $235 million, according to a source close to the companies. Read more on Theverge.com
Image: Hemin Xylan Shutterstock.com

Uber Expects Postmates Deal to Close by Year End

The U.S. Justice Department has approved Uber Technologies Inc’s $2.65 billion acquisition of food delivery company Postmates, clearing the way for the deal to close by the end of 2020, the ride-hailing firm said. Read more on Reuters.com

Image: Tero Vesalainen / Shutterstock.com

VCs Say IPO Pipeline Looks Robust - More Could Still Go Public in 2020

Renewed certainty about the U.S.’ political future and the prospect of getting a handle on the coronavirus pandemic in 2021 means we’ll likely see a robust lineup of venture-backed companies going public in the final two months of this year and into early next.... Read more on Crunchbase

Image: GrAI / Shutterstock.com

U.S. Capital Raising and M&A Highlights

Adagio Therapeutics, Inc., developing antibodies that broadly neutralize SARS-CoV-2, SARS-CoV-1, and other emergent coronaviruses, announced the closing of an $80 million Series B financing led by GV. Yahoo!Finance
Bentley Systems, Incorporated, the infrastructure engineering software company, announced the establishment of Bentley iTwin Ventures to invest in promising technology companies addressing the emerging opportunity for infrastructure digital twin solutions for infrastructure. VCAonline
BrightSphere Investment Group is exploring a sale of its majority stake in Landmark Partners, a PE investment firm that could be worth ~$1b. Reuters
Buoy Health, a Boston, MA-based AI-powered healthcare navigation platform, raised $37.5m in Series C funding led by Cigna Ventures and Humana. Finsmes
Carbon Health, a San Francisco-based technology-enabled healthcare provider, secured $100m in Series C funding led by Dragoneer Investment Group. Finsmes
CoImmune, Inc., an immuno-oncology company developing cell-based therapeutics to treat unmet medical needs in blood-borne and solid tumor indications, announced the closing of a $45M Series A financing. VCAonline
Compliance.ai, a San Francisco, CA-based RegTech company, raised $3m in Series A financing. The round was led by Cota Capital. Finsmes
Cota Health, an oncology-focused data curation and analytics platform, raised a $10m convertible loan from Varian Medical Technology. Venturebeat
CVC Capital Partners Ltd is exploring a sale of its majority stake in Kount Inc in a deal that could value the U.S. digital fraud protection company at more than $750 million, including debt. Reuters
Entercom Communications Corp. closed the acquisition of QL Gaming Group, a sports data and iGaming affiliate platform, in an all cash deal for approximately $32m. Finsmes
Fabric, a provider of products helping parents protect their family’s financial future, raised $18m in Series B funding led by CNO Financial Group. Finsmes
Highwing, a Denver, Colo.-based insurance technology company, raised $4M in seed funding led by a middle market subsidiary of BRP Group, Inc., and BrokerTech Ventures. Finsmes
Isovalent, a startup that aims to bring networking into the cloud-native era, announced it has raised a $29 million Series A round led by Andreessen Horowitz and Google. Techcrunch
JumpCloud, a Denver, CO-based cloud solution to control and manage employee identities and their devices, raised $75m in Series E funding led by funds managed by BlackRock. Finsmes
KINETIC, which provides wearable technology for safe work environments, announced its $11.25m Series A round led by Crosslink Capital. Globalnewswire
Maestro, a NYC-based software business focused on maximizing value in PE-backed companies, completed a $7.2m Series A round of financing led by S&P Global Market Intelligence. FInsmes
Pkware, a Milwaukee, MI-based provider of automated data security, acquired Dataguise, a company protecting personal data stored across diverse IT systems. Deal details were not disclosed. Finsmes
Remote, a San Francisco-based provider of an HR technology platform for international payroll, benefits and compliance, raised $35m in Series A funding led by Index Ventures. Finsmes
R-Zero, a biosafety company developing hospital-grade technologies to reduce the spread of infectious disease, announced a $15M Series A round led by DBL Partners. Venturebeat
SentinelOne, which has built a machine learning-based solution has closed $267 million in funding from Tiger Global, Sequoia, Insight Partners, Third Point Ventures and Qualcomm Ventures. Techcrunch
Spearhead launches $100M fourth fund to transform founders into top-notch VC investors. Techcrunch
Sumeru Equity Partners, a leading technology-focused growth capital firm, announced the closing of Sumeru Equity Partners Fund III with $720 million of total capital commitments. VCAonline
Tailscale, which is building a better corporate VPN, has raised a $12 million funding round. Accel is leading the round. Techcrunch
Trailhead Biosystems Inc.- a biotechnology company pioneering the application of machine-enabled science towards understanding and controlling biology - announced its $6.6 million Series A financing. VCAonline
Venminder, a third-party risk management solutions provider, raised its $33 million Series C funding round led by Silversmith Capital Partners. PRWeb
Yotta Energy, an energy tech company, closed a $5M seed funding from Fiftysix Investments, EDP Ventures, Skyview Ventures and others. Finsmes

International News

Hopin Raises $125M at $2.1B Valuation


Hopin, a fledgling U.K. startup that is gaining ground in the burgeoning virtual events space, has raised $125 million in a series B round led by IVP and Tiger Global. This raise values the 17-month-old company at a staggering $2.1 billion.  Read more on Venturebeat.com
Image: solarseven / Shutterstock.com

Europe’s Leading E-Scooter Startup TIER Raises €211.2M

TIER, one of Europe’s leading European micro-mobility players, today announced the completion of a €211.2 million Series C funding round led by SoftBank’s Vision Fund 2i. Read more on Yahoo!
Image: Karolis Kavolelis / Shutterstock.com

Twitter Could Face Its First GDPR Penalty

European data protection regulators have inched toward an enforcement decision for a Twitter  breach that the company publicly disclosed in 2019, after a majority of EU data supervisors agreed to back a draft settlement submitted earlier by Ireland’s Data Protection Commission. Read more on Techcrunch.com
Image : Vector Image Plus / Shutterstock.com

Logistics Startup XpressBees raises USD 110M

Alibaba-backed logistics and supply chain startup XpressBees has raised USD 110 million in its Series E funding round from private equity firms Investcorp, Norwest Venture Partners, and Gaja Capital. The deal gives three PE funds an equity stake of 31%. Read more on Kr-asia.com
Image: CoreDesign / Shutterstock.com

LinkAja Closes $100m Series B Led by Grab

Indonesian state-backed fintech LinkAja has raised around $100m in a Series B led by Singaporean super app Grab. The round was joined by Indonesia telecoms giant Telkomsel, BRI Ventura Investama, and Mandiri Capital Indonesia.  Read more on Fintechmagazine.com
Image: Sulastri Sulastri / Shutterstock.com

International Capital Raising and M&A Highlights

Audioscenic, a Southampton an audio technology startup, raised £1.05 million from Foresight Group, Williams Advanced Engineering. UKTN
BrainTale, a Paris-based adapted care company, raised €1m in seed funding. The round comprises a loan from Bpifrance and Angels Santé. Finsmes
Congenica, the digital health company enabling analysis of complex genomic data, announced the completion of its Series C funding round, raising US$50m/£39m co-led by Tencent and Legal & General. Yahoo!Finance
Fnatic, the London-based global esport brand has raised $10 million (approx £7.5 million) in funding led by Beringea. UKTN
i6 Group Limited, a UK-based provider of fuel management software for the aviation industry, secured a Series A funding round of undisclosed amount from multiple backers. Finsmes
IQM Quantum Computers, a developer of quantum computers, announced that it has raised $46 million in venture capital led by MIG Fonds. Venturebeat
Lightico, a London-based startup that helps firms - including banks - collect forms, signatures, documents and payments from customers digitally, raised $13 million in a funding round led by Oxx. Finextra
LingoAce, a Singapore-based edtech startup, said it has raised US$6 million in a series A+ round led by Sequoia Capital India. TechinAsia
OutSense, an Israeli IoT technology startup, raised $2.2m in a Series A funding. Peregrine Ventures made the investment. Finmses
Quest Software, a global systems management and security software provider, acquired Quadrotech, a Zug, Switzerland-based provider of management and migration solutions. Details were not disclosed. Finsmes
Seedcamp, a European pre-seed and seed-stage VC has reached £78M in the first and final close of its fifth fund, ‘Seedcamp V’. Techcrunch
Zikooin, a South Korea-based meat alternative startup, has raised $4 million in new funding mostly from U.S. venture firms. FinancialTimes
Zix Corporation, a Dallas, TX-based provider of cloud email security, acquired CloudAlly Ltd., an Israeli provider of cloud-based data backup and recovery solutions. Finsmes

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