GoPro acquires Stupeflix and Vemory for $105 million; Souq raises $275 million; Mercari raises $75 million
Another busy week has seen GoPro acquire video editing startups Stupeflix and Vemory for a combined $105 million, while Cisco has announced its intent to acquire Leaba Semiconductor for $320 million and CliQr for $260 million. Closer to home, Peazie has raised fresh funding, bringing the total raised to date to $2 million, HealthKit raised a $1.6 million Series A, Investec Australia acquired a stake in H2 Ventures, and hipages acquired StartLocal.
Investec Australia has acquired a stake in fintech-focused investment firm H2 Ventures. The value of the acquisition was not disclosed. Ben Heap, who cofounded H2 Ventures with brother Toby, said the funding will be used to invest in more startups and scale the firm’s H2 Accelerator program, building new businesses in a “crucial sector” of Australia’s economy.
After investing $1.5 million into Sydney-based personal finance platform MoneyBrilliant in 2014, financial services company AMP has now acquired the startup. The terms of the acquisition were not disclosed. AMP has stated that it is focused on growing MoneyBrilliant as an independent company to expand its customer offering, with the partnership brokered on a shared goal to make a positive impact on the financial well-being of Australians.
Just a few weeks after entering into a strategic partnership with real estate group Ray White, tradie marketplace hipages has announced its acquisition of Australian business directory StartLocal and related assets, including Home Service Engine and Aussie Tradesman User Guide. The terms of the deal were not disclosed.
Customer relationship management platform provider SugarCRM has acquired Contastic, a natural language processing (NLP) platform for an undisclosed amount. Contastic CEO Cy Khormaee has joined SugarCRM as director for product management for predictive analytics. SugarCRM CEO Larry Augustin said in a statement that the startup will use Contastic’s NLP technology to analyse data within the Sugar platform to allow users to automatically send personalised content.
Cisco has announced it is to acquire Leaba Semiconductor, an Israeli company designing networking chips, for $320 million in cash and assumed equity awards, as well as additional retention-based incentives.
Cisco has announced its intent to acquire CliQr, a San Jose startup helping clients manage software running on their own servers and on external cloud services, for $260 million in acash and assumed equity awards, and retention-based incentives. Rob Salvagno, vice president of Cisco Corporate Development, said in a statement, “With CliQr, Cisco will be able to help our customers realize the promise of the cloud and easily manage the lifecycle of their applications on any hybrid cloud environment.”
Asian mobile advertising company Mobvista, which reports fielding 10 billion daily impressions on its network, has acquired NativeX, a Minnesota startup working on native ad technology for mobile games and apps in an all cash deal of US$25 million, of 160 million yuan. NativeX will operate as a subsidiary of Mobvista, with its CEO Rob Weber to continue in the role and become vice president of the Mobvista Group.
GoPro has acquired Stupeflix and Vemory, the companies behind video editing tools Replay and Splice respectively, for $105 million in cash and stock in a bid to stem the company’s decline. GoPro CEO Nicholas Woodman told Forbes, “The Splice and Replay experiences will be incorporated and merged into the GoPro experience. For the consumer, in the future, it will be impossible to miss that this is a GoPro experience.”
IBM is boosting its security capabilities through its acquisition of Resilient Systems, which has created an incident response platform that automates the processes that come when dealing with various security breaches. The Resilient Systems platform will be a “foundational component” for IBM’s newly announced X-Force Incident Response Services.
German company RNTS Media, the parent company of mobile advertising tech startup Fyber GmbH, has acquired Israeli startup Inneractive, a real-time ad exchange platform, to consolidate its mobile ad offering. RNTS has paid $46 million in cash, with a further $26 million to be paid upon the achievement of growth targets over the next three years.
Peazie, the Australian startup helping brands build, run, and monitor competitions and promotions across social media channels, has announced that it has raised a fresh round of funding and appointed Thomas Mahon, former general manager of Salmat, as its new CEO. The startup, which previously raised funding in 2011 and 2013, would not disclose how much was raised in this round, but stated that the fresh funding brings the total it has raised to date to over $2 million.
Melbourne healthtech startup HealthKit, which has created a practice management system for private practices, a practitioner directory, and a health management platform for patients, has raised $1.6 million in a Series A round led by a Melbourne-based family office investor, with participation from existing investors. The funding will go towards building out the team, product enhancements, and expanding the platform into Asia, Europe, and North America. This is the first substantial round of funding for the startup, which raised a small amount of angel funding in its early days.
Middle Eastern online retailer Souq has raised $275 million from investors including Tiger Global Management, Standard Chartered Private Equity, International Finance Corporation and Baillie Gifford. The funding will go towards expanding the startup’s product offering, development, and logistics.
Health Catalyst, a healthcare data warehousing company, has raised $70 million in a Series E round co-led by Norwest Venture Partners and UPMC, with participation from investors including Sequoia Capital, SAnds Capital, and EPIC Venture Partners.
Augmented reality startup Blippar has raised $54 million in a Series D round led by Khazanah Nasional Berhad, the strategic investment fund of the government of Malaysia, with participation from existing investors. The funding will go towards growing the startup’s engineering teams and expanding its global reach.
Peer-to-peer marketplace app Mercari has raised $75 million in a Series D round that has put its valuation past the $1 billion mark, making it Japan’s first unicorn. The round, which included investment from Mitsui & Co, Development Bank of Japan, and Globis Capital Partners, brings the total raised by the startup to date to $111 million, and will go towards expanding across Japan, the US, and Europe.
Enlighted, a startup providing IoT solutions for commercial buildings, has raised $25 million in a Series E round from existing investors including Kleiner Perkins Caufield & Byers and RockPort Capital Partners, and new investor Tao Capital Partners. The funding will go towards accelerating the startup’s IoT app development, and expanding international distribution to France, Germany, and the UK.
Image: Ronaldo Mouchawar, founder of Souq. Source: FastCompany.