iAngels Israeli Deal Digest – February 2019

Welcome to the iAngels Monthly Deal Digest, a summary of movements in the Israeli startup market.

This February we tracked 27 announced deals totaling $600M, and 7 exits totaling in $2.6B.

IT & Enterprise Software was the leading sector in funds raised this month with DriveNets, a company that creates routing infrastructures that help customers to profit from 5G deployments and the rise of new low-latency AI applications, raising $110M in a Series A financing round co-led by Bessemer and Pitango; Redis Labs, the commercial provider of Redis, one of the world’s most popular in-memory database platforms, receiving $60M in a growth round led by Francisco Partners with the participation of Bain Capital, Dell, Viola, Goldman Sachs and InfoSys among others.

On the M&A side, we saw three large acquisitions including ZoomInfo, Attunity and Demisto. ZoomInfo, an automatic content generation systems platform, was acquired by DiscoverOrg for $800M. Attunity, a provider of information availability software solutions that enable access, sharing and distribution of data across enterprise platforms, organizations and the cloud, was acquired by QlikTech for $560M. Demisto, a security orchestration, automation and response platform, was acquired by Palo Alto Networks for $560M.

Read on for the full scoop!

February 2019 Investment Highlights

Seed Rounds

  • C2A Security, a company that is focusing on cybersecurity for connected vehicles, received $6.5 million in seed funding from ICV and Maniv Mobility Fund.
  • Solidus Labs, a startup that provides a machine learning-powered trade surveillance infrastructure tailored for digital assets, has raised $3 million in a seed round led by Hanaco VC with the participation of Global Founders Capital and private investors.
  • Inplay (Zone7), the developer of an AI-powered athlete injury prediction solution, received $2.5 million in a seed round led by Resolute Ventures with the participation of Amicus Capital, PLG Ventures and private investors.
  • Jointer, a company that is developing blockchain solutions to increase liquidity, improve returns and minimize risks for real estate owners and investors, received $1.5 million from a private investor. The company received an additional $1 million in the form of prize money in a global FinTech startup competition held by Edge 196.

 

A Rounds

  • DriveNets, a company that creates routing infrastructures that help customers to profit from 5G deployments and the rise of new low-latency AI applications, has raised $110 million in a Series A financing round co-led by Bessemer and Pitango.
  • nsKnox, a startup that provides cooperative cybersecurity solutions for protecting corporate payment systems, has raised $15 million in a Series A financing round co-led by M12 and Viola Ventures with the participation of Discount Capital Markets and private investors.
  • Ador Diagnostics, a company that develops, manufactures and markets in-vitro diagnostic solutions, received $14.5 million in a Series A financing round from BATM, Gamida for Life, Puma Brandenburg and undisclosed US investors.
  • Axonius, a cybersecurity asset management platform that provides organizations with visibility and automated policy validation on assets, devices and users, has raised $13 million in a Series A financing round led by Bessemer with the participation of Emerge Fund, Vertex, WTI and YL Ventures.
  • ZSquare, a life sciences company that developed a fiberoptics technology to reduce the optical component’s diameter while improving image quality, received $10 million in a Series A financing round led by Chartered Investment Managers with the participation of private investors.
  • Curv, a company that provides a cloud-based institutional digital wallet service, has raised $6.5 million in a Series A financing round co-led by Digital Currency Group and Team8 with the participation from Flybridge, Jump Capital, LCIF, Liberty City Ventures, Monex Group and Speedinvest.
  • Emedgene, providing a solution to automatically interpret genetic tests helping geneticists to manage their workload faster, has closed $6 million in a Series A financing round led by Olive Tree with the participation of Mindset Ventures and RIO.
  • Firedome, a startup that provides a cybersecurity solution to secure home IoT devices, has completed a $4.5 million Series A funding round with the participation of WTV and private investors.
  • Trackonomics, an aggregation and automation platform for performance marketers, received $1.6 million in a Series A funding round from 24Haymarket.

 

B Rounds

  • Gong.io, a company that is specializing in conversation intelligence technology for sales teams, has raised $40 million in a Series B round co-led by Battery Ventures, Dharmesh Thakker with the participation of Cisco Investments, NextWorld, NVP, Wing Venture Capital and a private investor.
  • Rapyd, a FinTech-as-a-service platform that offers omnidirectional transaction functionality, has completed a $40 million Series B funding round co-led by General Catalyst and Stripe with the participation of Ignia and private investors.
  • Vast Data, an IT infrastructure company, has closed a $40 million Series B round with the participation of 83North, Dell Technologies Capital, Goldman Sachs, NVP and TPG.
  • BiomX, a microbiome drug discovery company developing customized phage therapies that target and destroy harmful bacteria in chronic diseases, has raised $32 million led by Johnson & Johnson Innovation with the participation of 8VC, Mirae Asset, SBI Japan-Israel Innovation Fund, Seventure Partners, RM Global Partners, KB Partners, Chong Kun Dang, FutuRx, Handok and OrbiMed Israel.
  • Tulip Interfaces, a spinout from MIT that brings advanced analytics to the manufacturing workforce through its platform, has completed an $18.4 million Series B financing round led by Vertex Ventures with the participation of C4 Ventures, NEA, Pitango and private investors.
  • Healthy.io, a company that turns smartphone cameras into medical devices, has closed an $18 million financing round led by Aleph with the participation of Quantum Pacific Ventures, Samsung Next and a private investor.
  • Oribi, a company that provides a platform to get actionable insights to increase conversions and optimize websites, received $7 million in a Series B funding round led by S Capital Fund, Sequoia, TLV Partners and a private investor.
  • Donde, a company that is developing a fashion mobile application aiming to transform the online shopping experience by helping e-commerce sites mimic the way their customers think about products, has completed a $6.5 million Series B financing round led by Matrix Partners with the participation of AfterDox, Bouaziz & Partners, Golden Seeds, GWC Innovator Fund, SeedIL, UpWest and several private investors.

Growth/Miscellaneous Rounds

  • Redis Labs, the commercial provider of Redis, one of the world’s most popular in-memory database platforms, received $60 million in an E round led by Francisco Partners with the participation of Bain Capital, Dell, Viola, Goldman Sachs, InfoSys among others.
  • PerimeterX, a company that operates a platform to protect business and web infrastructure leveraging behavioral analytics-based bot detection, has raised $43 million in a Series C round led by Scale VP with the participation of Adams Street Partners, Canaan Partners, Data Collective, Vertex Ventures and a private investor.
  • Kryon, a company that provides an end-to-end solution which automatically generates a comprehensive picture of business processes, evaluates them and recommends which ones to automate, completed a $40 million growth round led by Oak HC/FT Partners with the participation of AJJS Holdings, Aquiline Technology Growth, Vertex and several private investors.
  • CathWorks, a medical technology company developing medical devices for the interventional cardiology market, has received $30 million in a Series C funding round led by Deerfield with the participation of BioStar Ventures, Corundum Fund, Planven Investments, Pontifax, Pura Vida, Quark and Triventures.
  • Rapid Software Solutions, a company that provides a back-end development platform enabling its users to develop a fully functional backend for their applications without writing a single line of code, has closed a $25 million Series C funding round co-led by Andreessen Horowitz, M12 with the participation of 500 Startups, FundersClub, Green Bay Advisors, Grove Ventures Fund, SV Angel and several private investors.
  • SoftWheel, a company that developed a wheel with an innovative suspension system that aims to replace the traditional spoke-and-rim wheel, has closed a $4 million Series C funding round with the participation of Hachshara Insurance and Linamar.

M&A and IPOs

  • ZoomInfo, an automatic content generation systems platform, was acquired by DiscoverOrg for $800 million.
  • Attunity, a provider of information availability software solutions that enable access, sharing and distribution of data across enterprise platforms, organizations and the cloud, was acquired by QlikTech for $560 million.
  • Demisto, a security orchestration, automation and response platform, was acquired by Palo Alto Networks for $560 million.
  • Aeronautics, a company that has established itself as a global provider of security consulting services and defense applications, was acquired by RAFAEL for $235 million.
  • Luminate Security, a company that provides a SaaS-based security platform designed to offer secure access to hybrid cloud services, was acquired by Symantec for $250 million.
  • Alooma, a company offering a real-time data pipeline as a service that allows the integration of any data source like databases, applications and APIs, was acquired by Google for $150 million.
  • Top Image Systems, a leading provider in the enterprise content management market, accelerating document-driven business processes, was acquired by Kofax for $16 million.

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Best,
Massimo

Massimo is an analyst in the iAngels Investment Team and brings experience in investments and asset management. Massimo is passionate about technology and innovation, meeting with the greatest minds and ideas of talented entrepreneurs looking to make an impact. At iAngels, Massimo focuses on seed and series A investments and has built special expertise around FinTech.