Owler Weekly Funding Insights June 12-18, 2023
💸 COMPANIES YOU SHOULD KNOW
+ SpotHopper Raised $12M in a Series B Funding Round
Spothopper, an AI-powered platform providing sales and marketing solutions to the restaurant industry, raised $12M in funding. The private, Wisconsin-based company’s plans for the funding include advancing improvements to its platform.
+ Series A Round Results in $25.4M for FIA Tech
DC-based cloud platform FIA Tech raised $25.4M in funding. Existing FIA Tech investors include Bank of America, Barclays, Citi, Goldman Sachs, JP Morgan, and Wells Fargo with BNP Paribas joining the latest round as a new investor. The funds are set to be used to support the development of FIA Tech’s Trade Data Network (TDN) initiative, involving 16 banks and brokers and 40 investment managers and hedge funds.
+ Xianghe Venture Capital Raised $44.9M in Funding
Private firm Xianghe Venture Capital raised $44.9M in investment funding. A backer of start-ups, the business manages a portfolio containing 25 companies. This is Xianghe Venture Capital's second funding round since its founding in 2016.
+ Corcentric Receives $65M in Debt Funding
SaaS platform Corcentric received funding in the amount of $65M. The loan, financed by TCW Private Credit Group, is one portion of the total $315M in capital the company has raised with a $250 million loan from Bank of America and JPMorgan Chase. According to Corcentric president and CEO, Matt Clark, the new capital will allow the company to grow and achieve its customer-focused goal.
+ Tomorrow.io Raised $87M in Series E Round
Headquartered in Boston, Massachusetts, Tomorrow.io is a weather intelligence platform offering solutions to energy and retail sectors. SpaceNews noted that the company recently launched its second satellite, R-2, on the SpaceX Transporter-8 rideshare flight. The $87M funding will be used in Tomorrow.io’s efforts to gather weather and climate data.
💰 BIG BACKINGS
🤝 CATCH UP ON THESE JUNE ACQUISITIONS
+ Camping World Acquires Van Boxtel RV
Wisconsin-based recreational retailer Camping World announced its acquisition of Van Boxtel RV. According to a company press release, the acquisition will increase Camping World’s location count to seven. Camping World Chairman and CEO Marcus Lemonis said the acquisition will accelerate the short-term goal to be the number one RV retailer in Wisconsin.”
+ USSI Acquires Power Equipment Leasing Company
In its first acquisition, another Wisconsin-based company, Utility Sales and Service, Inc. (USSI) purchased aerial equipment rental specialist Power Equipment Leasing Company. Ted Breidenbach, CEO of USSI stated that companies and organizations involved with infrastructure including electrical utilities, agriculture, and more can now benefit from the companies’ combined strengths.
+ Yasso Acquired By Unilever
Yasso, known for its low-calorie frozen snacks, has been acquired by England-based consumer goods company Unilever. With the addition of Yasso, Unilever has 66 subsidiaries. Yasso was founded in Boston in 2009 by childhood best friends Amanda Klane and Drew Harrington.
+ Nextira Acquired By Accenture
Professional IT consulting services company Accenture acquired Texas-based IT firm Nextira. The acquisition of Nextira in June follows a busy past few months for Accenture which completed three acquisitions in May. The deal will expand Accenture’s engineering capabilities in AI and machine learning according to TVTechnology.
+ WebMD Health Services Acquires Limeade for $75.2M
Founded in 2005, Limeade is a SaaS provider of immersive employee well-being solutions across the healthcare and insurance industries. The $75.2M deal is the first acquisition for WebMD Health which is led by General Manager John Harrison.
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