PTC is set to acquire cloud platform Service Max for $1.46B in an all-cash deal. The acquisition is expected to add $160M to PTC's ARR by Q2 2023. More: - PTC is a Boston-based technology company that aims to make companies more efficient through its products. It builds products in verticals such as Augmented Reality, IoT, PLM, CAD, etc.
- ServiceMax, based in California, provides a suite of field service management tools that enables the user to have detailed information on details such as the number of dispatched workers in the field, product location, service history, etc. The product is built on the Salesforce platform.
- The payment will be separated into two phases: $808M at closing and $650M paid in October 2023. PTC has secured a $500M loan to fund a portion of the acquisition.
- PTC stated that this acquisition is going to enable the company to offer its clients products that help them at each stage of the product lifecycle, making the company a one-stop-shop PLM platform that will differentiate it in the market.
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Palo Alto Networks has acquired Cider Security for $195M to boost its supply chain security product suite. The deal will be completed in an all-cash structure. More: - According to the company, security teams today struggle to follow the pace of developers who have access to tools that enable them to deploy code quickly. This trend may cause security flaws that lead to security breaches.
- Palo Alto Networks believes that by integrating its cloud-based code deployment platform Prisma with Cider Security's product, developers will have access to better security tools.
- The California-based company stated that the deal will close in Q2 2023.
- Cider Security was founded in 2020 and quickly managed to scale to 40+employees. Cider offers its users a graph that shows a visualization of the attack surface, a tool that looks for the best scanners a company should use, and a CI/CD analysis system.
- The company is based in Tel Aviv, Israel.
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Spanish startup Unavets has raised $118M to refinance its debt and expand its 24/7 pet care network. The company has 91 practices in Spain and Portugal. More: - Unavets comprises 900+ team members. The veterinary hospital network provides services for dogs and cats.
- The company differentiates itself by offering 24/7 support, offering competitive prices due to its partnerships with healthcare providers, its investment in R&D, etc.
- Unavets offers a basic healthcare plan that consists of one nutrition counseling session, four weight, dentition, and coat control sessions, one microchip placement session, etc. The pricing is based on the pet's age, ranging from $25 per month up $40 per month.
- The global pet care market was worth $150B in 2021 and is expected to grow at 5% CAGR until 2030.
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Prosper Marketplace, which has facilitated $1B+ in loans, has raised $75M. The company claims this figure has grown 2x YoY. More: - Prosper Marketplace offers peer-to-peer lending solutions, including personal loans, credit cards, home equity products, and investment products.
- The platform offers individual loans that range from $2,000 to $50,000 and credit cards with limits of up to $3,000.
- Besides its home equity credit line program, the company has now expanded its offering with a fixed-rate home equity loan program. Users can borrow home loans worth up to $500,000.
- The company claims to have helped over 1.5 million people achieve their goals by providing financing.
- The San-Francisco based company, founded in 2005, has over 150,000 customers for its credit card program.
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Today's funding 💵 Sustainability - Fairmat (France), a startup that wants to turn carbon waste into other usable products: $35M led by Temasek and CNP with participation from Pictet Group, Singular, The Friedkin Group International, etc.
Energy - Upstart Power (Massachusetts), produces solid oxide fuel cell generators to cover grid outages: $17M C led by ITOCHU Corporation, with participation from Enphase Energy, Sunnova, Rodgers Capital, H+ Partners, and Cricetus Felix Ventures.
Property Tech - Virgil (France), helps users buy a home by becoming a co-owner with them: $15.5M Growth led by Global Founders Capital, Aquasourca, Alven, LocalGlobe, and Evolem.
SaaS - AMGF (Texas), provides manufacturing and workflow automation software for 3D printing: $8.5M Growth led by Intel Capital.
- Sympower (Netherlands), uses automation software to balance grids when they are out of balance: $25.5M B led by Activate Capital with participation from Rubio Impact Ventures and PDENH.
- ProcMart (India), a startup that aims to help companies choose their best procurement solutions available: $10M led by Sixth Sense Ventures.
- OneSchema (California), provides an embeddable CSV importer that makes data importing more efficient: $6.3M Growth led by General Catalyst, with participation from Sequoia Capital, Y Combinator, Elad Gil, Contrary Capital, Box Group, Comma Capital, Xoogler Ventures, Wade Foster, Steve Bartel, Julianna Lamb, Dennis Steele & Eric Rea, and Deepika Bodapati & Tanay Tandon.
Transportation - Wave Engine Corporation (Maryland), aims to develop aircraft and propulsion systems that are cheaper than current options: $3.5M Seed led by led by Gula Tech Adventures with participation from Kevin Mahaffey, Abell Foundation, Maryland Momentum Fund, and Asymmetry Ventures.
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- Noventiq has acquired a controlling stake in Saga Group, a holding company that has numerous fintech companies and IP in its portfolio.
- Argentina-based digital transformation company IncluIT has been acquired by Avenga, a German engineering and consulting platform. The amount was undisclosed.
- Bindley Capital Partners led a $6.6M funding round for Green Shield Risk, a company that provides risk mitigation strategies for catastrophe-prone properties.
- Veax (Switzerland), a decentralized exchange that aims to offer a combination of DeFi and traditional finance features, raised a $1.2M Pre-Seed round led by Circle Ventures, Proximity Labs, Tacans Labs, Outlier Ventures, Skynet Trading, and Qredo.
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 |  | Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. |   | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords. | |
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