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Weds., Sept. 16 – Crunchbase News

Weds., Sept. 16 – Crunchbase News 2020-09-17Leave a comment

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Portworx acquired by Pure Storage

Portworx, a Kubernetes knowledge companies platform primarily based in Los Altos, California, agreed to be acquired by Pure Storage (NYSE: PSTG) in an all-cash deal valued at roughly $370 million.

Mountain View, California-based Pure Storage, which supplies storage as-a-service, stated this was its largest acquisition to-date. The corporate acquired Compuverde in 2019 and StorReduce in 2018.

Since its inception in 2014, Portworx has raised a total of $55.5 million in venture-backed funding, in accordance with Crunchbase knowledge. Pure Storage will mix Portworx’s container knowledge companies with its suite of knowledge companies that may be deployed in-cloud, on naked metallic, or on enterprise arrays.

Funding rounds

M&A

  • ChargePoint poised to go public in reverse merger: Reuters reported that electrical car charging community ChargePoint was near going public by way of a reverse merger with Switchback Energy Acquisition Corp. The deal would worth Campbell, California-based ChargePoint at greater than $2 billion. It’s nonetheless attainable that the deal may dissolve, however sources instructed Reuters if not, the merger might be introduced as early as subsequent week. Switchback, primarily based in Dallas, was created in 2019 as a special-purpose acquisition firm, aka SPAC, and raised $300 million in its IPO, Reuters reported. In August, we reported on ChargePoint’s $127 million Series H extension spherical of funding that gave the corporate a complete of $660 million in funds raised since its inception in 2007, in accordance with Crunchbase knowledge.
  • Kahoot buying Actimo: Oslo-based on-line schooling platform Kahoot introduced it can purchase Danish startup Actimo ApS for as much as $33 million in money and inventory. Based in 2012, Actimo operates a cell workspace for distant workers to enhance the best way organizations join with and have interaction their groups.
  • SEMrush acquires Prowly: SEMrush, a Boston-based on-line visibility administration and content material advertising and marketing SaaS platform, stated it has acquired Warsaw-based public relations SaaS startup Prowly.com. Monetary particulars of the acquisition weren’t disclosed. SEMrush Chief Technique Officer Eugene Levin stated in a press release that the corporate “had Prowly on our radar for a number of years, and as soon as we noticed that they may generate worldwide traction, we determined to make a suggestion.” SEMrush will add content material advertising and marketing instruments to Prowly.

IPOs:

• Unity raises IPO worth targets: Online game software program developer Unity Software on Wednesday morning raised the anticipated worth vary of its upcoming IPO to $44 to $48 per share, up from the earlier estimate of $34 to $42 per share. In that vary, Unity may increase as much as $1.2 billion in its public market debut and be valued at as much as about $12.6 billion. The San Francisco-based firm raised its vary after DevOps platform JFrog and cloud knowledge warehousing firm Snowflake every did as effectively. Snowflake begins trading publicly on Wednesday after its IPO priced above expectations in what would be the largest software program IPO of all time. Unity is slated to cost on Thursday and start buying and selling on the New York Inventory Change on Friday below the ticker image “U.”

Enterprise capital

• Wix.com creates new fund: Free web site creation service Wix.com created a brand new enterprise capital initiative, Wix Capital, to spend money on tech entrepreneurs centered on the way forward for the net and serving to companies function within the digital panorama. Wix Capital will spend money on seed and early-stage rounds, and has deployed greater than $5.6 million into a number of corporations together with communication and workflow software Spike, digital fintech firm Oriente, dropshipping platform Modalyst, and RestAR, a 3D capturing and AI product visualization software.

Illustration: Dom Guzman

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