JMI Equity related stories
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- Canadian VC sees biggest Q1 since dot-com era as top deals nab $927 mln
Canada’s venture capital market has started the year with a bang. The top 10 first-quarter VC financings drew a substantial $927 million from investors. That’s up 40 percent from the $661 million raised by the top 10 deals a year earlier and close to twice the $491 million raised by the top 10 deals in Q1 2016. The estimate is based on PE Hub Canada’s list of the largest rounds announced from January through March, supplemented by Thomson Reuters data.
VC-backed Benevity acquires Silicon Valley's VersaicBenevity Inc has bought Versaic Inc, a San Mateo, California-based software company that helps manage corporate giving and social responsibility activity. No financial terms were released. Benevity, a Calgary-based online workplace giving, matching, volunteering and community investment software provider, said the acquisition, which comes on the heels of last month's buy /canada/2018/02/venture-backed-benevity-buys-british-csr-consultancy/ of TrustCSR, will expand its grant management offerings. Established in 2008, Benevity in January secured /canada/2018/01/general-atlantic-invests-csr-software-platform-benevity/ an investment from General Atlantic. The company is also backed by JMI Equity.
Hall of Fame #4: Hellman & Friedman VThe fourth Hall of Famer marks Hellman & Friedman's second entry on the list.
Venture-backed Benevity buys British CSR consultancyBenevity Inc, a Canadian provider of corporate social responsibility (CSR) and employee engagement software, has acquired TrustCSR, a British CSR consultancy that serves enterprise clients. No financial terms were released. Calgary-based Benevity said the deal will add scale and geographic scope to its operations and allow the company to serve global customers through a new U.K. location. Founded in 2008 by CEO Bryan de Lottinville, Benevity processes donations and volunteering time to charities worldwide. In January, it secured an investment /canada/2018/01/general-atlantic-invests-csr-software-platform-benevity/ from U.S. growth equity firm General Atlantic. Benevity is also backed by JMI Equity.
- Technical hiring platform HackerRank inks $30 mln Series C
HackerRank, a platform that helps companies evaluate technical talent based on skills, has raised $30 million in Series C funding. JMI Equity led the round with participation from other investors that included Khosla Ventures, Battery Ventures, Randstad Innovation Fund and Chartline Capital Partners. In addition to the funding, Suken Vakil, a general partner at JMI Equity, has joined HackerRank's board of directors.
- Canadian VC hits 16-year high in 2017 as top deals raise $1 bln
For Canada’s venture capital market, 2017 was a remarkable year. The story is told partly in milestones. They include the largest financing of a local IT company in 25 years (Lightspeed); the largest round on record for an artificial-intelligence startup (Element AI), and strategic funding of a top maker of laser sensors used in self-driving cars (LeddarTech). They were among Canada’s top 10 venture-capital financings last year, which together raised more than $1 billion from investors. The number is based on PE Hub Canada’s list of the largest deals announced in 2017, supplemented by preliminary data from Thomson Reuters.
- JMI Equity exits automotiveMastermind
IHS Markit has acquired New York City and San Francisco-based automotiveMastermind Inc, a provider of predictive analytics and marketing automation technology for the automotive industry. The purchase price was about $392 million. Jefferies LLC served as financial adviser to automotiveMastermind on the deal. AutomovieMastermind's backers included JMI Equity.
- Austin Ventures veterans start growth firm Elsewhere Partners
A pair of Austin Ventures veterans announced they have started Elsewhere Partners, a Texas-based growth-stage firm targeting business software companies outside the country's traditional venture-capital hubs.