Recent Growth Equity Transactions: June 2014

06.12.14
Archive

Institutional and corporate investors alike continue to bet big on digital marketing tech and outsourced services.  See deal specifics below:

Notable Deals

MediaMath, a New York based digital marketing technology company, received $73.5 million in Series C funding, led by Boston-based growth equity firm Spring Lake Equity Partners, and joined by a new investor, Akamai Technologies Inc and existing investors Safeguard Scientifics, Catalyst investors, and Observatory Capital. Additionally, MediaMath increased its borrowings to $105 million; the debt facility was led and syndicated through Silicon Valley Bank. 

The total $175 million raised through Series C funding and through borrowings will be used to continue MediaMath’s expansion in the global market, and for product development in its flagship technology, TerminalOne Marketing SystemTM.

Aasonn LLC, a human resources technology and consulting firm based in Naperville has received $20 million from LLR Partners to push into the outsourced-services business. Aasonn will use the funding to start a service business for companies looking to outsource their back-office HR functions, such as hiring, payroll, and benefits managemement. Aasonn LLC implements SAP AG’s SuccessFactors human resources software platform for its clients. It has around 1,600 customers including 5 Fortune 100 companies.

Additional Deals

Elasticsearch, Inc., provider of an end-to-end real-time search and analytics platform, announced raising $70 million in Series C funding from New Enterprise Associates (NEA), joined by Benchmark Capital and Index Ventures.

Offerpop, a New York based digital marketing software company, announced closing a $15 million Series C round, bringing its total funding to $25 million. The Series C round was led by new investor
Edison Ventures, joined by Hearst Ventures, Salesforce.com, Windcrest Partners, Common Angels, and Mesco Ltd.

Invaluable, a large online auction marketplace of fine and decorative arts, antiques, collectibles, and estate sale, has received $33.75 million in Series D funding from Insight Venture Partners, joined by Ascent Venture Partners and Commonwealth Capital Ventures

Laredo Energy, a company engaged in the acquisition and development of natural gas and oil reserves in South and East Central Texas, has raised $130 million in private equity commitments from Avista Capital Partners and Liberty Energy Holdings

Revolution Growth will invest an undisclosed amount into Revolution Foods, a California based provider of nutritious meals for children. Washington Business Journal notes an investment of $30 million.

Evolution Media Partners, a joint venture between TPG Growth and Participant Media, has partnered with retail executive Paul Blum for its investment in Sandow, the owner of upscale clothing retailer Fred Segal.

Mimosa Networks, Inc., a pioneer in last mile gigabit wireless technology, announced a $19.2 million investment in Series C funding led by returning investor New Enterprise Associates (NEA). Oak Investment Partners also returned for its third round of investment in Mimosa, bringing the company’s total financing to $38 million.

Summit Partners and Fleet-Cor Technologies have formed a joint venture for the acquisition of Masternaut Group Holdings Ltd., a European provider of vehicle tracking solutions and mobile resource management.

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