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 investment associate in the iAngels investment team. He is passionate about technology & innovation and enjoys working alongside entrepreneurs with disruptive business ideas looking to make an impact. At iAngels, Massimo focuses on seed as well as series A, B & C investments and has built special expertise around FinTech, Cybersecurity, Enterprise Software, Environmental Tech, AgriTech and FoodTech.