This Week In The SaaS Universe- Updates & Highlights With spotSaaS Weekly Roundup
Latest Funding News
Horsefly Secures Funding Round
| Company Name | Horsefly |
|---|---|
| About The Company | Horsefly is an AI-based talent market analytics solution that provides the most cutting-edge in-house talent acquisition and talent mapping platform in the market. |
| Founders’ Name | Will Crandle |
| Funds Raised | NA |
| Investors | LDC’s investment was led by Jacob Leone and Camilla Greenwood, who will both join the board alongside incoming Chair David Gilbertson |
| How will the company use the money | With the funding, Horsefly will be able to expand its presence in the US and grow the company to new heights. The company has been growing quickly recently and has significantly penetrated the US market. |
Wand Raises Seed Funding Round
| Company Name | Wand |
|---|---|
| About The Company | Wand is developing the next-generation AI creative tool for 3D modeling, game design, and digital art. Artists may personalize and have hands-on control over Wand’s creative tool to help them realize their ideas. |
| Founders’ Name | Grant Davis |
| Funds Raised | NA |
| Investors | O’Shaughnessy Ventures LLC |
| How will the company use the money | The funding will be used to empower artists to bring their ideas to life. |
Synctera Raises $15 Million in Funding
| Company Name | Synctera |
|---|---|
| About The Company | Synctera is a Banking as a Service (BaaS) business that creates and introduces embedded banking solutions and FinTech apps for a variety of sectors. |
| Founders’ Name | Dominik W Kris Hansen Peter Hazlehurst |
| Funds Raised | 415 Million |
| Investors | NAventures, The Banc Funds, Veritex Community Bank, Midland States Bank, and Emigrant Bank |
| How will the company use the money | Synctera intends to add support for new credit, lending, and other banking use cases in 2023, as well as expand into new geographies and client segments |
Mergers & Acquisitions
ACT Business Machines Merges with Trivest-Backed Novatech
Trivest Partners, a private equity fund, has backed Novatech in its acquisition of ACT Business Machines for an undisclosed sum. Nashville, Tennessee is home to Novatech, which was established in 1998. Consultancy, Network Architecture, Computer Hardware, Network Peripherals, Telephone Systems, Managed IT, Print Production, and Hosted VOIP are among ACT’s specialties.
PCIA Purchases Cornerstone
Cornerstone Complete Wealth Management, a registered investment advisor based in Reno, Nevada, was acquired by Prime Capital Investment Advisors (PCIA), according to the announcement (Cornerstone). With this acquisition, PCIA now has its first Nevada facility and $400 million more in assets under management.
Sumitovant Biopharma Completes Acquisition of Myovant Sciences
Myovant Sciences Ltd. and Sumitovant Biopharma Ltd. declared that the acquisition of Myovant by Sumitovant, first announced on October 23, 2022, has been successfully completed. In an all-cash transaction with an estimated transaction value of $1.7 billion, Sumitovant has bought all Myovant shares that are now trading on the market that it does not already hold.
Myovant’s shares won’t be traded publicly after the transaction is complete, delisting it from the New York Stock Exchange.
SaaS News Of The Week
US leads the charge in this week’s 23 FinTech deals
In terms of FinTech deal activity this week, the US claimed the lead. Twelve of the 23 completed agreements were companies with US locations.
What Silicon Valley Bank collapse means – and why it’s not 2008 again
Silicon Valley Bank, a financial institution best known for its connections to high-flying international technology firms and venture capital, failed on Friday as a result of one of the oldest issues in banking: a bank run.
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