iAngels Israeli Deal Digest – July 2019

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

This July we tracked 37 announced deals totaling $1.4B, and 5 exits totaling $259M.

IT & Enterprise Software was the leading sector this month. Compass, a tech-driven real estate platform that uses technology to aid agents and clients in finding a place to live, has completed a $370 million growth round from the Canada Pension Plan Investment Board (CPPIB), Dragoneer Investment Group LLC, the Qatar Investment Authority (QIA), 406 Ventures, Advance Publications, Fidelity, Founders Fund, Goldman Sachs, IVP, Lead Eagle Capital, Thrive Capital, Wellington Management, and Softbank Vision Fund. Lightricks, a company that creates leading creativity tools for the mobile generation including the company’s first two paid products, Facetune and Enlight, has closed a $135 million Series C funding round led by Goldman Sachs Private Capital Investing group with the participation of Carmel IV, ClalTech, and Insight.

On the M&A and IPO side, we saw one large acquisition, Elastifile, and one IPO, Eco Wave Power. Elastifile, a company that augments cloud capabilities with enterprise-grade, scale-out file storage and allows enterprises to leverage cloud resources without refactoring applications, was acquired by Google for $200 million. Eco Wave Power, a company that developed a technology for turning ocean and sea waves into green electricity, raised $13.6 million in its initial public offering on the Nasdaq First North, a division of the Nasdaq Nordic stock exchange.

July 2019 Investment Highlights

Seed Rounds

  • Tamar Robotics, a life sciences startup that is developing robots to assist neurosurgeons in the operating room, has raised $2.8 million from Mivtach Shamir with participation from Israeli research university Technion Israel Institute of Technology.
  • Rightbound, an IT & Enterprise Software company that develops technology facilitating automation and streamlining of sales processes between organizations and companies, received $2 million in seed funding from the IBI Tech Fund.
  • Env0, a startup that enables users to create their own environment in a cloud account, won the TMTI conference investment of $0.25 million in seed funding from TAU Ventures Fund, Tel Aviv University’s venture capital fund.

A Rounds

  • UVEye, a computer vision startup that specializes in the design and building of camera inspection systems for vehicles, has raised $31 million in a Series A Financing round co-led by Toyota Tsusho, Volvo Cars and W. R. Berkley Corporation with the participation of SeedIL, FIT Ventures, and Ahaka.
  • Juganu, a startup that provides a technology for the professional LED market, including performance LED lighting modules and complete LED smart lighting systems, has completed a $23 million Series A funding round led by Viola with the participation of OurCrowd, BM Holdings, Mordechai Ben-Schach, Armada Investments, and private investors.
  • DUST Identity, a startup that created the Diamond Unclonable Security Tag (DUST), a technology utilizing nano-engineered diamonds to create an unclonable identity layer on any object, has closed a $10 million Series A round led by KPCB with the participation of Airbus Ventures, Angular, Castle Island, Lockheed Martin Ventures, Nathan Kaiser, and New Science Ventures.
  • Smartair, a travel tech startup that created an online marketplace connecting travel suppliers (airlines, hotels, car rentals and local attractions and activities) with travelers who can plan, customize & book their trip in one single platform, has closed a $6 million Series A round led by Talma Travel, with the participation of Alpha Capital and other undisclosed VC funds.
  • Shieldox, a startup with an AI autonomous Policy Decision Point (PDP) that protects shared sensitive documents, has completed a $4 million Series A funding round with Marius Nacht, Club 100 Plus, Eldad Weiss, Keiretsu Forum, and Yoav Chelouche.
  • Polyrize, a cybersecurity startup that helps enterprise security organizations to regain control of the public cloud, has closed a $4 million Series A round led by Glilot Capital with the participation of Saban Ventures Fund.
  • MetoMotion, a clean tech startup that develops a robotic system for labor-intensive tasks in greenhouses, has raised $1.5 million in a Series A financing round with Ariel Bentata and other private investors.
  • Liberdi, a life sciences startup that is developing an all-in-one portable dialysis solution, comprised of hardware and software, providing scalable digital and safe self-care anywhere with remote medical supervision, has raised $1.13 million in a Series A Financing round from ExitValley.
  • Emerj, a startup that helps organizations fight attrition and supercharge their employees with skills and opportunities to drive growth through peer-to-peer learning, has raised $0.8 million in a Series A Financing round with 12Angels Fund, Fiona Darmon, Fusion LA, Garrett Gilbertson, Inbal Shenfeld, Zion Halfon, and other private investors.

 B Rounds 

  • Curve 1, a fintech startup that combines a person’s cards into one card to make the payment and banking process easier, has closed a $55 million Series B round led by Gauss Group with the participation of Breega Capital, CreditEase, IDC Ventures, Outward VC, Santander Innoventures, Seedcamp, and Speedinvest.
  • enSilo, a startup that protects businesses around the world from data breaches and disruption caused by cyber-attacks, has completed a $23 million Series B funding round from Carmel, Counterview Capital, Lightspeed, OG Tech, and Rembrandt Venture Partners.
  • Lendbuzz, a startup that uses Big Data analytics to improve access to credit for international students and professionals living in the US, especially for car loans, has raised $20 million in a Series B Financing round from 83North, Suhel Kothari, and private investors.
  • Vcita, a startup with an all-in-one business management app for small businesses, has raised $15 million in a Series B Financing round led by Forestay with the participation of ADIP, Darya, NetMe, and private investors.
  • Lightico, a startup that developed an innovative mobile communication center that empowers customer experience and leads digital service, support and sales teams to success, has raised $14.5 million in a Series B Financing round led by Mangrove Capital Partners with the participation of Crescendo Venture Partners, Lool Ventures, and Spinach Angels.
  • Belong.life, a startup that provides a social network for cancer patients and caregivers to help manage and fight cancer more effectively, has completed a $14 million Series B funding round led by IQVIA with the participation of Eshbol, Harel Prag, The Group Ventures, and private investors.
  • K Health, a life science startup that uses data to empower people to make informed health decisions by utilizing AI to give people immediate answers to ensure quality healthcare, has completed a $12.5 million Series B funding round from Mangrove Capital Partners, Lerer Hippeau, Primary Venture Partners, BoxGroup, Max Ventures, Bessemer Venture Partners, and Comcast Ventures.
  • Hello Heart, a life science startup that develops a device that tests blood pressure and blood sugar levels and helps patients monitor their health, drug intake, and physical exercise through a mobile app (and iAngels portfolio company), has raised $12 million in a Series B Financing round led by Khosla Ventures with the participation of Amicus Capital, Arab Angel, Arba, BlueRUn, CapitalG, Datalogix, Facebook, Franklin Trust, iAngels Crowd, Maven Ventures, Resolute Ventures, Wanxiang Healthcare Investments, and WTI.
  • Minute.ly, a startup with an AI-driven video enhancement solution, offering a set of tools that empower content creators and publishers, has closed an $8 million Series B round led by Infront with the participation of Gadi Veinrib, Gilad Shabtai, and private investors.

Growth/Miscellaneous Rounds

  • Compass, a tech-driven real estate platform that uses technology to aid agents and clients in finding a place to live, has completed a $370 million growth round from the Canada Pension Plan Investment Board (CPPIB), Dragoneer Investment Group LLC, the Qatar Investment Authority (QIA), 406 Ventures, Advance Publications, Fidelity, Founders Fund, Goldman Sachs, IVP, Lead Eagle Capital, Thrive Capital, Wellington Management, and Softbank Vision Fund.
  • Lightricks, a company that creates leading creativity tools for the mobile generation including the company’s first two paid products, Facetune and Enlight, has closed a $135 million Series C funding round led by Goldman Sachs Private Capital Investing group with the participation of Carmel, ClalTech, and Insight.
  • Lendbuzz, a startup that uses Big Data analytics to improve access to credit for international students and professionals living in the US, especially for car loans, has raised $130 million in a debt financing round led by BHI, the U.S. division of Israel-based Bank Hapoalim, with participation from Viola credit V, ConnectOne Bank, and Israel Discount Bank New York (IDB).
  • Hippo Insurance Services, a company that is looking to reduce the time and money spent on home insurance and allows users to obtain coverage for modern households, has raised $100 million in a Series D financing round led by Bond Capital with the participation of Broad Beach Ventures, Comcast Ventures, Felicis Ventures, Fifth Wall, GGV Capital, Hillhouse Capital, Horizons Ventures, HSB Ventures, ICONIQ Capital, Lennar, Moderne Ventures, Pipeline Angels, Propel Venture Partners, RPM Ventures, Standard Industries, Zeev Ventures and 7 private investors.
  • Trax, a company that provides computer vision solutions and analytics for retail, has completed a $100 million Series D funding round led by HOPU with the participation of Boyu Capital, Broad Peak Master Fund, DC Thomson, GIC, Investec, Warburg Pincus, and private investors.
  • Menlo Security, a company that provides a cloud-based isolation platform that protects organizations from cyber attacks by eliminating the threat of malware from websites, documents and emails,  has raised $75 million in a Series D financing round from American Express, Baruch Future Ventures, Engineering Capital, Ericsson Ventures, General Catalyst, HSBC Group, JP Morgan, Osage University Partners and Sutter Hill Ventures.
  • Graduway, an alumni software provider that provides institutions a way to engage their alumni, students, and supporters through a powerful platform – to enable them to connect with each other, has raised $60 million in a Series C financing round led by K1 Investment Management with participation of BTG Pactual, Elevator Ventures, Massa Innovations, RSL Venture Partners, Susquehanna and a private investor.
  • TravelPerk, a web-based tool for travellers that manages travel policies, budgets and payment methods as well as customer support services, has raised $60 million in a Series D financing round led from Amplo, CBi2 Capital, DST Global Solutions, Felix Capital, Heartcore Capital, Innuvik Ventures, Kinnevik AB, Latitude, LocalGlobe, Spark Capital, Sunstone Capital, Target Global, and 9 private investors.
  • BigID, a company that developed software to help companies secure their customer data and satisfy privacy regulations like GDPR, has raised $50 million in Series C financing round co-led by Boldstart and Comcast Ventures with participation from ClearSky Fund, Deep Fork Capital, Genacast Ventures, Information Venture Partners, SAP.iO and Scale VP.
  • BiondVax, a publicly-traded biopharmaceutical company developing a Universal Flu Vaccine that provides multi-season and multi-strain protection against all human influenza virus strains, both seasonal and pandemic, completed a $20 million PIPE with aMoon Partners Fund.
  • TrapX, a cybersecurity company that  provides clients with a solution that detects, deceives and defeats cyber-attacks and human attackers in real-time, has raised $18 million in a Series D financing round led by Ibex Israel Fund with the participation of BRM Group, Intel Capital, Liberty Israel, Opus Capital, and Strategic Cyber Ventures. 
  • Blender, a global e-lending platform that provides multi-continental and cross-border lending services, has raised $17 million in a debt financing round led by Eiffel Investment Group SAS.
  • P-cure, a company concerned with expanding the availability of proton therapy and hence the treatment of certain cancers by developing an imaging-based solution for treatment with protons and a delivery system that enables the use of fixed beam, technologies for treatment of various cancer indications, has raised $15 million in a Series D financing round led by Popular Line Medical Group with the participation of Everett Partners, Lions Peak, StartVest and a private investor.
  • Foamix, a pharmaceutical company that develops and commercializes topical drugs for dermatological therapy, closed a $14 million PIPE with Perceptive Advisors and Orbimed Israel.
  • TradAir, a company offering FX and crypto trading solutions for banks and brokers, has raised $11 million in a Series D financing round from Carmel Ventures, Genesis Partners, GF Investments, Insight, Long Ridge, Viola Credit, and a private investor.
  • Blender, a global e-lending platform that provides multi-continental and cross-border lending services, has closed a $5 million Series C round led by Asia Plus Group Holdings with the participation of Allied Holdings, Blumberg Capital, Doron Aviv, Eti Langermann, Fattal, Lahav Mezzanine Fund, OBV, Psagot, and private investors.

M&A and IPOs

  • Elastifile, a company that augments cloud capabilities with enterprise-grade, scale-out file storage and allows enterprises to leverage cloud resources without refactoring applications, was acquired by Google for $200 million.
  • ADT, a semiconductor company that develops and produces blades and machinery for the dicing of silicon-based integrated circuits, package singulation, and hard material microelectronic components, was acquired by Neng Yang, a Chinese investment fund, for $35 million.
  • Eco Wave Power, a company that developed a technology for turning ocean and sea waves into green electricity, raised $13.6 million in its initial public offering on the Nasdaq First North, a division of the Nasdaq Nordic stock exchange.
  • PAI-Tech, an internet company that provides a development platform and a marketplace where everyone can develop, sell and buy decentralized apps, was acquired by Horizons Holdings, a US private investment firm focused on buying unique independent companies, for $8.8 million in Stock.
  • Baligam, a social buying website for lifestyle products that struggled with debt issues was acquired by GROO, a social website for discount purchasing, for about $1.3 million (NIS 4.6 million).

 

On behalf of everyone at iAngels, I’d like to thank you for tuning in to our Israel Deal Digest. If you’d like to receive a version direct to your inbox, please subscribe below.

 

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.

iAngels Israeli Deal Digest – June 2019

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

This June we tracked 31 announced deals totaling $981M, and 5 exits totaling $207M.

IT & Enterprise Software was the leading sector this month. TripActions, a technology-enabled corporate travel management platform, raised $250 million in a Series D financing round led by Andreessen Horowitz with the participation of Group 11, Lightspeed, and Zeev Ventures. SentinelOne, a company that delivers autonomous endpoint protection through a single agent that prevents, detects, responds and hunts attacks on-premise and cloud environments, raised $120 million in a Series D financing round led by Insight with participation of NextEquity, Redpoint Ventures, Samsung Ventures, SineWave Ventures, Sound Ventures, Third Point Ventures, Tiger Global, UpWest, Westly Group, Granite Hill, Data Collective, Accel and a private investor.

On the M&A and IPO side, we saw one large acquisition, Creso Pharma, and one large IPO, Fiverr. Creso Pharma, a public company that provides cannabis-derived therapeutic grade nutraceutical products, developing, registering, and commercializing pharmaceutical-grade cannabis and hemp-based products and treatments, was acquired by PharmaCielo for $85 million. Fiverr, a marketplace for creative and digital services, such as graphic design, copywriting, voiceovers, and music and film editing, raised $110 million in its initial public offering on the New York Stock Exchange.

June 2019 Investment Highlights

Seed Rounds

  • Orca Security, a start-up developing a technology which provides full-stack visibility into all organizational assets, including the cloud infrastructure level, operating systems, applications and data, and vulnerabilities, malware and compromised assets detection, received $6.5 million in seed funding led by YL Ventures GP with the participation of two private investors.
  • Simpo, a SaaS engagement platform, which provides companies with embeddable apps with built-in insights engine that let PMs track, adjust, and optimize their user’s experience, received $4.5 million in seed funding led by Redpoint Ventures with the participation of Janvest Capital Partners,  Seedcamp, UpWest Labs Fund, and two private investors.
  • Hoopo, a start-up developing a GPS-independent geological solution for IoT networks & sensors, received $3.5 million in seed funding from TAU Ventures Fund, Japan Israel High Tech Ventures and Global IoT Technology Ventures (GiTV).

A Rounds

  • Cellebrite, a digital intelligence solutions company, has raised $110 million in a Series A financing round with IGP, a private equity fund.
  • AnyVision, a company that develops software capable of real-time face and object recognition within large crowds, has closed a $31 million extended Series A round. DFJ Growth, Eldridge Industries, Lightspeed, M12, OG Tech, Qualcomm Ventures, and Robert Bosch Ventures all participated in the most recent Series A round.
  • Neuroblade, a company that develops processors for artificial intelligence applications, has raised $23 million in a Series A financing round led by Marius Nacht, with the participation of Grove Ventures Fund, Intel Capital, Rami Lipman, Stage One, and private investors.
  • GuardKnox, an automotive cyber-solutions company providing comprehensive cyber defense for connected and autonomous vehicles, has completed a $21 million Series A funding round led by FMC capital, with the participation of Allied Holdings, CyberTech International, Faurecia, Glory Ventures, Kardan N.V., NextLeap Ventures, Plug & Play, SAIC Venture Capital, Shay Livnat, VectoIQ, and private investors.
  • Fireblocks, a startup that finds a way to securely transfer digital assets, has completed a $12 million Series A funding round co-led by Eight Roads and Tenaya, with the participation of Amichai Shulman, CyberStarts Fund, Gil Mandelzis, Marius Nacht, MState, Nir Zuk, Shlomo Kramer, Swisscom Ventures, and private investors.
  • Vulcan Cyber, a startup that provides a continuous vulnerability remediation solution, has completed a $10 million Series A funding round led by TenEleven Ventures with participation from Giora Yaron, Glenn Chisholm, Idan Plotnik, Michael Boodaei, YL Ventures, and private investors.
  • Quik, a food delivery company that allows customers to order groceries to their house, received $10 million in Series A funding from Central Bottling Company (Coca Cola), Super Pharm, and Union Tech Venture.
  • Variantyx, providing genome testing services to clinicians for collaborative diagnosis of rare inherited disorders, received $7 million in a Series A funding round from Pitango.
  • CybeReady, a startup with a platform that provides customers training on phishing and cybersecurity, received $5 million in a Series A funding round funded by Baseline Ventures.
  • Indorz, a company with a CEA (Controlled Environment Agriculture) farming solution, has raised $1.4 million in a Series A financing round with participation from Fundit and private investors.
  • Cannova, a startup that develops a strip for oral administration of active cannabis substances to allow producers to more effectively control dosage quantities and safety in the delivery of cannabinoid products, has raised $1 million in a Series A financing round from Nabis Holdings.

 B Rounds 

  • InFarm, an indoor urban farmingcompany dedicated to provide urban communities with fresh, nutritious produce, by distributing smart vertical farms throughout the city, directly where people live and eat, has raised $100 million in a Series B financing round led by Atomico with participation of Archimedes Labs, Astanor Ventures, Atlantic Food Labs, Balderton Capital, Cherry Ventures, IDEO, LocalGlobe, Mons Investments, Quadia, and TriplePoint.
  • DayTwo, a Microbiome-Base Precision Medicine company, developing personalized nutrition, diagnostic, and therapeutic solutions using artificial intelligence and machine learning, has raised $31 million in a Series B financing round led by aMoon partners fund with participation of Johnson & Johnson Innovation, Seventure Partners, Mayo Clinic Initiative, Ofek Ventures Fund, and three private investors.
  • Sunbit Payment Software, a company that has developed a payment solution for retailers to split a purchase into multiple payments, enabling its customers to pay over time using a personalized payment plan, has raised $26 million in a Series B financing round led by Zeev Ventures with participation of Chicago Ventures, G-Bar Ventures, Group 11, Heroic Ventures, Levy Family Partners, Skydeck and three private investors.
  • BrightWay Vision (BWV), a company that is developing a night-vision technology that monitors a car’s forward facing vehicle’s environment, aiding the driver, with assistance from the active safety systems to make driving at night safer, has raised $25 million in a Series B financing round co-led by Koito and Magenta Venture Partners Fund with participation of Manor Family, Lubinski Group, and Elbit Systems.
  • DouxMatok, a food-tech company that offers sugar and salt reduction solutions to the Food and Beverages industry, reducing sugars and salt by 40% in multiple applications while retaining identical taste and sensory profiles, has raised $22 million in a Series B financing round led by BlueRed Partners with the participation of Btov Partners, DSM Venturing, Foodlab Capital, Gefen Capital Fund, Gil Horsky, Jesselson, JLL Partners, JVP Venture Partners, La Maison, OurCrowd, Pitango Ventures, Singha Ventures, Sudzucker, and two private investors.
  • Iron Scales, a company that has created an anti-phishing threat protection platform combining human and machine intelligence to automatically analyze, detect and remove malicious emails before and after landing in an inbox, has raised $15 million in a Series B financing round led by K1 Investment Management.
  • Cylus, a company that has developed a cybersecurity software to detect and control rail incidents and service disruptions caused by cyber-attacks, has raised $12 million in a Series B financing round led by Magma Venture Partners and Vertex Israel Fund, with the participation of The Blue Minds Company, SBI Japan-Israel Innovation Fund, Follow the See, Cyient, Cerca Fund and two private investors.
  • Testim, a company that uses AI for the authoring, execution and maintenance of automated tests, has raised $10 million in a Series B financing round led by SignalFire with the participation of Spider Capital, Lightspeed, Meron  Capital Fund, NHN, Spider Capital and TEEC Angel Fund.

Growth/Miscellaneous Rounds

  • TripActions, a technology-enabled corporate travel management platform, has raised $250 million in a Series D financing round led by Andreessen Horowitz with the participation of Group 11, Lightspeed, and Zeev Ventures.
  • SentinelOne, a company that delivers autonomous endpoint protection through a single agent that prevents, detects, responds and hunts attacks on-premise and cloud environments, has raised $120 million in a Series D financing round led by Insight with participation of NextEquity, Redpoint Ventures, Samsung Ventures, SineWave Ventures, Sound Ventures, Third Point Ventures, Tiger GLobal, UpWest, Westly Group, Granite Hill, Data Collective, Accel and Ashton Kutcher.
  • MinuteMedia, a company that is developing products that enable fans to create, publish, share and distribute sports content around the world, received $40 million in a Series F financing round with participation from Battery Ventures, Dawn Capital, Gemini Israel, Goldman Sachs, Hamilton Lane, Kreos Capital, La Miason, Maor, North Base Media, Qumra Capital, Remaigne Ventures Fund, Seven Ventures, and Vintage Investment Partners.
  • Innoviz, a company that manufactures high-performance, solid state LiDAR sensors and perception software that enables the mass production of autonomous vehicles, has raised $38 million in a Series C financing round led by undisclosed investors.
  • Camtek, a manufacturer of metrology and inspection equipment and a provider of software solutions serving the Advanced Packaging, Memory, CMOS Image Sensors, MEMS, RF and other segments in the Semiconductors industry, completed a $16.2 million PIPE from Chroma.
  • ReWalk Robotics, a company that develops, manufactures and markets wearable robotic exoskeletons for individuals with lower limb disabilities as a result of spinal cord injury or stroke, has completed two PIPEs, the first in the size of $10.8 million and the other in the size of $5 million by undisclosed investors. 
  • Cyber Observer, a company that delivers a cybersecurity management and awareness solution that provides CISOs and executives with a view of their current cybersecurity posture, revealing the security gaps that exists and delivering continuous proactive recommendations, received $8 million in a Series C financing round led by Merlin International with the participation of Moonbow, Swarth Group, Tails Capital and Private Investors.
  • Else Nutrition, a food and nutrition company, focused on research, development, manufacturing, marketing sal and license of plant-based food and nutrition products to the infant, toddler, children and adult market, closed a $5.7 million PIPE with undisclosed investors on the Toronto Stock Exchange Ventures.

M&A and IPOs

  • Fiverr, a marketplace for creative and digital services, such as graphic design, copywriting, voiceovers, as well as music and film editing, raised $110 million in its initial public offering on the New York Stock Exchange.
  • Creso Pharma, a public company that provides cannabis-derived therapeutic grade nutraceutical products, developing, registering and commercializing pharmaceutical-grade cannabis and hemp-based products and treatments, was acquired by PharmaCielo, a Canadian supplier of grown and processed medicinal-grade cannabis oil extracts, for $85 million.
  • CoolaData, a behavioral data analytics platform to help businesses optimize customer management and lead to actionable insights, was acquired by Medallia, an enterprise customer feedback management software platform, for $7.6 million.
  • Cannabliss, an Israeli manufacturer of consistent and smoke-free medical cannabis products, was acquired by Together Pharma, a company focused on growing, exporting, and distributing medical cannabis, for $3.9 million.
  • QM7, a private company that has developed a management tool for companies to keep track of all the most frequent activities and tasks delivered to members across the organization, was acquired by Top Group, an advanced software solutions and computer services company, for $0.67 million.

 

On behalf of everyone at iAngels, I’d like to thank you for tuning in to our Israel Deal Digest. If you’d like to receive a version direct to your inbox, please subscribe below.

 

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.