iAngels Israeli Deal Digest – November 2019

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

This November we tracked 25 announced deals totaling approximately $832m, and 7 exits totaling $2.48bn

Semiconductors and Enterprise Software were the leading sectors this month. Riskified, an eCommerce fraud management company trusted by hundreds of global brands, raised $165 Million in a growth round led by General Atlantic with the participation of C4 Ventures, Capital One Growth Ventures, Entree Capital, Fidelity, Founder Collective, Genesis, Kreos Capital, NTT DOCOMO Ventures, Pitango Growth, Qumra Capital, T5 Capital and Winslow Capital. In addition, Vayyar Imaging, a global leader in 4D radar imaging technology, providing affordable, highly advanced sensors to a wide variety of industries, raised $109 Million in a growth round co-led by Regal Four and KdTVC with the participation of Amiti Ventures, battery Ventures, Bessemer, ClalTech, Glory Ventures, ICV, ITI Fund, WRVI and a private investor. 

On the M&A side, a large acquisition was made in the MedTech field. Lumenis, a company that has developed minimally-invasive clinical solutions for the surgical, ophthalmology and aesthetic markets was acquired for $1.2 Billion by Baring Private Equity. In addition, two large scale acquisitions were made in the enterprise software field. ECI Telecom, a company that delivers ELASTIC network solutions to service providers, utilities and data center/cloud providers, was acquired by Ashmore Group for $486 Million. Further, Crossix Solutions, a company that has developed technology to enable real-time measurement and optimization of complex, cross-channel media campaigns aimed at patients and healthcare professionals, was acquired by Veeva for $430 Million

November 2019 Investment Highlights

A Rounds

  • DoiT International, a leading provider of proprietary public cloud optimization and operations software and public cloud expertise, raised $100 Million in a Series A financing round from Charlesbank Technology Opportunities Fund. 
  • CyCognito, a company developing a platform that provides organizations with a complete attack surface analysis from a sophisticated attacker’s point of view, raised $18 Million in a Series A financing round led by Lightspeed with the participation of Amiti Fund, BNSG Capital, Sorenson Capital, UpWest and additional private investors. 
  • ZecOps, a startup delivering a realistic take on cyber security with the first agentless cross-platform digital forensics and incident response (DFIR) platform, raised $10 Million in Series A financing from Array Ventures, CEAS Investments, Evolution Equity Partners, Jigsaw, KPN Ventures, Plug & Play, Stormbreaker Venture Group, WISE Ventures and a private investor.  
  • Viisights Solutions, a provider of behavioural understanding systems for real-time video intelligence, raised $10 Million in Series A financing led by Awz HLS with the participation of AltalR Capital, Firstime, LETA Capital, Maxfield Capital and an undisclosed investor. 
  • Coralogix, a company developing open source code and cloud computing, closed $10 Million in Series A funding led by Aleph with the participation of 2B Angels, Janves, Stageone and Taya Ventures. 
  • CreditStacks, a company that offers premium credit cards without the need for SSN or credit history to apply, raised $10 Million in Series A financing led by Strathmore Group with the participation of 500 Startups Fund, Clear Future company, Off the Grid Fund, Plug & Play, VU Venture Partners and private investors. 
  • Refundit, a company whose aim is to revolutionize tax free shopping, making the process easier and more efficient, raised $10 Million in a Series A financing round led by Amadeus Ventures with the participation of Ataria, Portugal Ventures and additional private investors. 
  • Hallura, a company that has developed a novel crosslinking technology, answering the growing demand for natural and soft non-invasive aesthetic treatments, raised $7 Million from private Investors. 
  • Cyber Sepio Systems, a cybersecurity company that uncovers hidden hardware attacks, raised $6.5 Million from EDP Ventures, Hanaco VC, Merlin Ventures, Mindset Ventures and PICO Partners fund. 
  • Track160, a startup that provides an AI solution to the emerging field of sports information analytics, raised $5 Million led by ADvantage Sports Tech Fund alongside with Deutsche Fussball Liga, REDDS Capital and other private investors.  
  • ProteKt Therapeutics, a drug development company aiming to develop potent and selective oral inhibitors of the kinase PKR for the treatment of neurodegenerative and neuroinflammatory diseases, raised $3.6 Million from Bukwang Pharmaceutical, Fonds de Solidarite, FutuRx, Johnson & Johnson, OrbiMedisrael, RMGP Biopharma fund and Takeda Ventures. 

B Rounds

  • Papaya Global, a company that provides enterprises with a global, cloud-based SaaS platform to automate payroll and workforce management, raised $45 Million in a B round led by Insight Partners and with the participation of Bessemer Fund, Dynamic Loop Capital, New Era Capital Partners Fund and numerous private investors. 
  • Cymulate, a company that challenges security controls by initiating thousands of attack simulations, showing exactly where the users are exposed and how to fix it, making security continuous, fast and part of every-day activities, raised $15 Million in a B financing round from Dell Capital, Susquehanna, Vertex Growth, Vertex and a private investor.
  • Perimeter 81, a zero trust network as a service designed to simplify secure network, cloud and application access for the modern and distributed workforce, raised $10 Million in Series B financing led by SonicWall with the participation of JAL Ventures Fund, Spring Ventures and private investors. 
  • Loom Systems, a company that delivers an AIOps-powered log analytics solution, raised $10 Million in a B round led by Flint Capital with the participation of 31Ventures, Global Brain Fund, JVP and Meron Capital fund. 
  • Pcysys, a company that delivers an automated penetration-testing platform that assesses and reduces corporate cybersecurity risks, raised $10 Million led by Awz HLS Fund with the participation of Blackstone Fund and Blum & Blum Investments Fund. 

C Rounds 

  • BigPanda MS, a company that enables enterprise IT to automate and scale service operations to meet the complex demands of the modern datacenter, raised $50 Million in Series C financing led by Insight Partners alongside with Battery Ventures, greenfield Partners, Mayfield Fund, Pelion Fund and Sequoia Israel.
  • Superpedestrian, a transportation robotics company developing core technologies for micro-mobility, raised $20 Million in Series C financing from Empire Angels, General Catalyst, Hanaco VC, OurCrowd and Spark Capital. 
  • Biz-Effective (Centrical), a comprehensive workforce performance management platform using enterprise gamification, raised $13 Million led by Aleph with the participation of 2B Angels, CE Ventures, Eshbol, JVP, La Maison, Shared Ventures, Vernit and Adler chomski Advisory company. 

    Growth/Miscellaneous Rounds

    • Riskified, an eCommerce fraud management company trusted by hundreds of global brands, raised $165 Million in a growth round led by General Atlantic with the participation of C4 Ventures, Capital One Growth Ventures, Entree Capital, Fidelity, Founder Collective, Genesis, Kreos Capital, NTT DOCOMO Ventures, Pitango Growth, Qumra Capital, T5 Capital and Winslow Capital.
    • Vayyar Imaging, a global leader in 4D radar imaging technology, providing affordable, highly advanced sensors to a wide variety of industries, raised $109 Million in a growth round co-led by Regal Four and KdTVC in additional participation of Amiti Ventures, battery Ventures, Bessemer, ClalTech, Glory Ventures, ICV, ITI Fund, WRVI and a private investor.
    • BlueVine, a company empowering small businesses with innovative banking solutions, raised $103 Million in a growth round led by ION Crossover Partners Fund with the participation of Citi Ventures, Correlation Ventures, Greylock Israel, Kima Group, Lightspeed Fund, Maor, Menlo Ventures, MUFG Innovation Partners, Nationwide Ventures, OG Tech, Rakuten FinTech Fund, SVB Financial Group, Vintage and a private investor.
    • XACT Robotics, a company pioneering a hands-free robotic system combining image-based planning and navigation with instrument insertion and steering capabilities, to democratize percutaneous interventional procedures, raised $36 Million in a growth round from Chasing Value Asset Management, MEDX Ventures Group and other private investors. 
    • Insights Cyber Intelligence, a company developing an all-in-one external threat protection platform designed to neutralize cyberattacks outside the wire, raised $30 Million led by Qumra Capital with the participation of Blackstone, Blumberg Capital, ClearSky Fund, Glilot Capital, Tola Capital, Vintage, Wipro Ventures and private investors.
    • Venus Concept, a developer and manufacturer of devices for the medical aesthetic market, raised $28 Million from EW Healthcare Partners, HealthQuest Capital, SEDCO Capital and an undisclosed investor.

    M&A and IPOs

    • Lumenis, a company that has developed minimally-invasive clinical solutions for the surgical, ophthalmology and aesthetic markets, was acquired for $1.2 Billion by Baring Private Equity. 
    • ECI Telecom, a company that delivers ELASTIC network solutions to service providers, utilities and data center/cloud providers, was acquired by Ashmore Group $486 Million.
    • Crossix Solutions, a company that has developed technology to enable real-time measurement and optimization of complex, cross-channel media campaigns aimed at patients and healthcare professionals, was acquired by Veeva for $430 Million
    • ObserveIT, a company that provides an insider threat management platform, was acquired by Proofpoint for $225 Million.
    • 89bio, a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardio-metabolic diseases, was acquired for $85 Million.
    • Clear Genetics, an iAngels portfolio company that has developed a patient-centric software to thoughtfully integrate genetics into routine patient care, was acquired by Invitae for $50 Million
    • Cymplify Security, a company that has developed a technology for securing Internet devices and finding vulnerabilities, was acquired by CheckPoint for $5 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.