Balaji, Ford, Shimbo, Sunder, Karas, Stoner, Lu, Lee and Eaton are among those involved in notable deals this week
From our Women's PE Briefs - week commencing April 26, 2021
Nestle to buy The Bountiful Company for $5.75B
The Bountiful Company, whose board includes the Carlyle Group’s Anita Balaji and KKR’s Nancy Ford, will not be going public after all. Instead, it is set to be acquired for more than $5 billion. Nestle has agreed to buy the Ronkonkoma, N.Y. company for $5.75 billion. A supplier of branded vitamins and wellness products, The Bountiful Company had filed to go public just two weeks ago.
Founded in 1971, The Bountiful Company includes such brands as Nature’s Bounty, Solgar, Osteo Bi-Flex, Pure Protein and Puritan’s Pride. Nestle intends to integrate the brands into its Nestle Health Science unit.
KKR acquired majority control of the company in 2017 from the Carlyle Group, which retained what was described at the time as a significant stake. The Bountiful Co.’s IPO filing did not disclose ownership stakes.
Nancy joined Bountiful’s board upon KKR closing its investment. In 2020, she joined the boards of Coty, Inc. after KKR invested in $1 billion in the publicly traded company, and the Wella Company, which KKR spun off from Coty. She also is on the boards of Upfield, Channel Control Merchants, Gibson Brands and Heartland Dental. Nancy spoke earlier this year at the Virtual Women’s Private Capital Summit and has spoken previously at the Women’s Private Equity Summit, which KKR is a longtime sponsor of.
Anita, a managing director with Carlyle’s U.S. buyout group, also is on the board of PurposeBuilt Brands, Inc., which earlier this year filed to go public.
Shimbo is involved in her first deal since joining Spectrum Equity
Lauren Shimbo is involved in her first deal since joining Spectrum Equity. Lauren joined the board of Empyrean Solutions after Spectrum led a $74 million growth financing in the Woburn, Mass. company – a transaction that also included Information Venture Partners.
Empyrean provides asset and liability management and risk and compliance solutions for banks and credit unions. The investment also represents the first time that Empyrean has taken in institutional capital since its founding in 2010.
Lauren joined Spectrum last year after completing her MBA at the Wharton School at the University of Pennsylvania. Spectrum, which is investing from its $1.5 billion ninth fund, focuses making growth equity investments in Internet-enabled software and information services companies.
Panasonic to pay $5.6B for Blue Yonder
Panasonic is poised to acquire a company whose board includes Blackstone’s Anushka Sunder – a deal that would be Panasonic’s largest purchase in 10 years. Panasonic will pay $5.6 billion for the remaining 80 percent of Blue Yonder, which produces supply-chain software. Panasonic acquired a 20 percent stake in Blue Yonder a year ago.
Panasonic said the acquisition strengthens its portfolio and accelerates the companies’ shared autonomous supply chain mission. Blackstone and New Mountain Capital paid $570 million to recapitalize Blue Yonder out of JDA Software in 2016.
Anushka last fall was involved in the firm’s recapitalization of Precision Medicine Group. She has been with Blackstone since 2013, and is also on the boards of CARD, HealthEdge, Optiv and TeamHealth.
Unusual Ventures’ Leary led Alto Solutions’ $17M Series A round
Unusual Ventures’ Sarah Leary deposits capital into a self-directed IRA platform – a platform that has previously been backed by Acrew Capital, which Theresia Gouw and Lauren Kolodny helped found. Unusual led Alto Solutions’ $17 million Series A round, which also included Carta, Coinbase Ventures, Franklin Templeton, New York Life Ventures, Stone Ridge Holdings Group and such existing investors as Acrew, Alpha Edison and Moment Ventures.
Based in Nashville, Tenn., Alto is focused on making it easier for individuals to access and invest in alternative assets using their retirement funds. According to the Investment Company Institute, only as much as 5 percent of the $33 trillion held in U.S. retirement accounts is allocated to alternatives.
In a statement, Sarah said, that “as the investment community expands its focus to include alternative assets, like cryptocurrencies, private equity, private credit, and real estate, we think individual investors should not be left behind. Alto's self-directed IRA platform has been built from the ground up to provide individuals a seamless, tax-efficient way to invest in alternative assets using their retirement savings. We are excited to help fuel Alto’s efforts to help democratize participation in these exciting alternative asset opportunities.”
In conjunction with the funding, Sarah joined Alto’s board. Sarah, who co-founded Nextdoor, joined Unusual as a venture partner in 2020. Unusual was founded in 2018 by John Vrionis and Jyoti Bansal. It closed its second fund in 2019 at $400 million.
Kirch’s The Venture Collective takes part in GoalBased Investor’s $2.75M round
Gina Kirch, founding partner of The Venture Collective in New York, seeds GoalBased Investors. TVC took part in the company’s $2.75 million round with True Ventures.
A digital platform that democratizes access to goal-based financial planning and advice, GoalBased Investors was created as an express platform to help individuals plan for their financial goals, regardless of level of financial literacy, and easily match with the expert advice needed to successfully achieve them. Unlike other a la carte solutions, GoalBased Investors offers this full suite of capabilities in one streamlined, gamified experience.
In a statement, Gina said, “we're excited about GoalBased Investors’ goal of lowering the barriers for people to get the advice they need to achieve their savings goals. Financial inclusion impacts so many individuals, and GoalBased Investors’ platform will address this head on.”
Jackson leads Northpond Ventures into VieCure’s $25M Series A round
Northpond Ventures’ Andrea Jackson is truly focused on improving cancer care. Earlier this year, she led Northpond into Syapse, Inc., a precision medicine company that utilizes real-world data and evidence to improve outcomes in treating people with cancer. Now, she has led Northpond into VieCure, Inc., an oncology clinical informatics company. Northpond led the Denver company’s $25 million Series A round, which also included an undisclosed investor.
VieCure has created an artificial intelligence-enabled clinical decision support platform that combines the latest in evidence and clinical trials with patient data to assist oncologists, hematologists and clinical trial investigators in generating personalized treatment plans. The platform also allows doctors to manage a patient’s treatment throughout diagnosis, cancer therapy and ongoing follow-up care. VieCure is utilized by cancer centers and health systems in the United States, Bahamas, and Antigua. The company also has relationships with pharmaceutical, molecular diagnostic and laboratory companies.
In a statement, Andrea said, “the VieCure platform is an ideal operating solution for oncologists, nurses, pharmacists, and clinical trial professionals, given it is designed for the precision oncology era and supports clinical decision making at point-of-care. The precision oncology paradigm shift is underway and the amount of data that clinicians are being expected to digest, consider, and action is often beyond the human condition. The VieCure platform ingests these data discretely, inferences these data against the latest clinical evidence and trial protocols, and generates optimal treatment plan considerations for action while the patient is in the exam room.”
In conjunction with the financing, Andrea joined Vie Cure’s board. She is also on Syape’s board as well as the boards of firm portfolio companies Octave Bioscience, Refeyn, Vizgen, NanoView Biosciences and GALT. Andrea, who joined Northpond about a year ago, was promoted earlier this year to director. She previously was the commercial lead at Farcast Biosciences, an oncology clinical diagnostic company.
Northpond was founded by Sharon Kedar and Dr. Michael Rubin in 2018. The firm has offices in Cambridge, Mass.; Bethesda, Md.; and San Francisco, and has in excess of $1 billion of committed capital.
Northpond Ventures’ Jackson has also invests in Current Health
Northpond Ventures’ Andrea Jackson has also invested in a remote care management platform. Northpond led Current Health’s $43 million Series B round, which also included LRVHealth, OSF HealthCare, Section 32, Elements Health Ventures, and existing investors.
Based in Boston, Current Health has developed a platform that enables health systems to monitor and manage patient care at home. It is used by Mount Sinai Health System, Geisinger Health, the UK National Health Service as well as AstraZeneca.
In a statement, Andrea said, “it’s rare to see a company successfully execute across both healthcare delivery and drug delivery – this is what makes Current Health so special. As healthcare moves into the home, pharmaceutical companies are developing new models that go beyond the pill and enable greater delivery at home with fewer side effects at lower cost. Current Health’s proven track record of delivering across both pharma and health systems makes them the perfect company to bridge this gap.”
In conjunction with the financing, Andrea joined Current Health’s board. She is also on the boards of the two other companies she has backed in 2021: Syapse, Inc., a precision medicine company that utilizes real-world data and evidence to improve outcomes in treating people with cancer, and VieCure, Inc., an oncology clinical informatics company. Andrea is also on the boards of firm portfolio companies Octave Bioscience, Refeyn, Vizgen, NanoView Biosciences and GALT. Andrea, who joined Northpond about a year ago, was promoted earlier this year to director.
Northpond was founded by Sharon Kedar and Dr. Michael Rubin in 2018. The firm has offices in Cambridge, Mass.; Bethesda, Md.; and San Francisco, and has more than $1 billion of committed capital.
SoftBank’s Karas leads the SB Opportunity Fund into Welcome Tech’s $35M Series B round
SoftBank’s Gosia Karas leads the firm’s SB Opportunity Fund into a digital platform that provides immigrants and their multi-generational families with the ecosystem needed to thrive in the United States. The SB Opportunity Fund, TTV Capital and Owl Ventures led Welcome Tech’s $35 million Series B round, which also included Crosscut Ventures, Mubadala Capital, Next Play Capital and Owl Capital.
Based in Los Angeles, Welcome Tech focuses on demystifying and creating access to financial, health care and educational resources. The company currently has nearly 3 million active users and will use the capital to expand its lineup of financial services to include a debit card and bilingual mobile app.
In a statement, Gosia said that “Welcome Tech’s goals are strongly aligned with our vision of expanding access and opportunity to overlooked communities, and we are excited to help the company’s unique and talented team grow the business. We believe that Welcome Tech is the unparalleled leader in this space.”
Gosia, who joined SoftBank in 2019 from Onex, is an investment director and head of growth stage investments at the SB Opportunity Fund. The SB Opportunity Fund backs Black, Latinx and Native American founders. Gosia’s investments include EightSleep, Paystand, Drift, Bank Greenwood, PlayVs, Fetch Robotics, Loggi, Konfio, Alphacredit and Memphis Meats, whose board she is an observer on.
Stoner oversees Battery Ventures’ investment in SaaSOptics and Chargify
Battery Ventures’ Chelsea Stoner oversees the firm’s investments in two companies that manage billing and automate related financial functions for software-as-a-service companies. Battery said it is investing more than $150 million in SaaSOptics and Chargify. Together, the two companies have more than 2,000 customers and manage more than $10 billion in customer annual recurring revenue.
SaaSOptics, based in Atlanta, is a business-to-business subscription management platform that specializes in automating the financial operations of SaaS companies by streamlining the order-to-revenue process and automating revenue recognition; invoicing and payments; and subscription analytics and metrics.
San Antonio-based Chargify specializes in complex usage and events-based billing, subscription management, payment collections, and data management tools.
In a statement, Chelsea said that Battery is “thrilled to partner” with the two companies, “each of which has built a powerful business in their respective financial-software markets.” The success that these companies have had “highlight the fact that today’s software companies require more robust billing and revenue solutions, driven in large part by new usage-based cloud models.”
Chelsea earlier this year led Battery’s formation of Behavioral Holdings, a new platform aimed at helping behavioral-health and human-services organizations operate more effectively. She joined Behavioral Holdings’ board and is also on the boards of Curve Dental; InCloudCounsel; PageUp, an Australian enterprise talent management software company whose co-founder and CEO is Karen Cariss; Redox; and Avalara, which went public in 2018. Chelsea is a past speaker at the Women’s Private Equity Summit.
Battery in 2020 closed two funds totaling $2 billion and recently closed a new $400 million fund to designed to deliver capital to a small subset of the firm’s later-stage companies.
Berkowitz guides Springbank Collective into Aloe Care Health’s $5M round
Elana Berkowitz, a partner with Springbank Collective, guides the firm into the developer of a voice-activated medical alert system and caregiver support platform. Springbank took part in Aloe Care Health’s $5 million round, which also included such investors as City Light, Million Lives Fund and Drumbeat Ventures.
Based in New York, Aloe Care has developed an in-home Smart Hub for secure, two-way, hands-free voice communication, and additional Smart Sensors to detect falls, motion, air quality and temperature. The company also provides around the clock access to a professional emergency response team.
In a statement, Elena said that Aloe Care “checked a lot of boxes for us, particularly given the ways that it serves caregivers and older adults. Unpaid family caregivers are overwhelmingly women, the majority of whom also hold jobs – creating a workload burden that needs to be lightened. And, as the past year has made abundantly clear, older adults critically need a way to live safely in their homes whenever possible. Aloe Care addresses both, enabling technology to uplift what is essential about the very human experiences of caring and aging.”
Springbank invests in early-stage companies building the “New Care Economy” and the “Future of Inclusive Work.” Founded by Courtney Leimkuhler, Springbank is focused on supporting solutions for working women and working families. Among its investments are Wellthy, Plume and Catch.
Peck and Jensen are involved with The Riverside Company’s launch of the Threshold Brands platform
The Riverside Company’s Caroline Peck and Sarah Jensen are involved in the launch of a new platform, one focused on trade services franchises. The private equity firm has formed Threshold Brands after acquiring three companies over the last eight months.
The three companies acquired are Pestmaster, which provides environmentally conscious pest control services; USA Insulation, which provides retrofit insulation services; and MaidPro, a national provider of residential and light commercial cleaning services. MaidPro also operates the brands FlyFoe, a mosquito and tick control franchise, and Men in Kilts, a window cleaning, power washing and gutter cleaning franchise.
Caroline, an associate, joined Riverside in 2017 and was involved in an add-on deal for the firm’s Omnigo Software platform in 2020. Sarah, an analyst, joined Riverside in 2019. She has been involved in add-on deals for the Omnigo Software platform as well as the firm’s investments in two Canadian-based providers of commercial outdoor services: Clintar and TruNet.
Work-Bench co-founder Lin joins the board of RippleMatch after taking part in their $23.5M round
Work-Bench co-founder Jessica Lin joins the board of RippleMatch after re-investing in the early career recruiting platform. Work-Bench took part in RippleMatch’s $23.5 million round that also included Invus Opportunities, Renegade Partners, Gaingels and such fellow existing investors as G20, Alleycorp, Bullpen Capital and Accomplice. Jessica originally led Work-Bench into the New York company’s $6 million Series A round in 2019.
RippleMatch focuses on matching college students with a curated list of hiring companies, regardless of the student’s school.
Jessica founded Work-Bench with Jonathan Lehr. The firm focuses on enterprise technology.
Ontario Teachers’ is set to sell a portfolio company for nearly $1B
Ontario Teachers’ Pension Plan Board, whose private equity activities are directed by Karen Frank, is set to sell a portfolio company for nearly $1 billion. Ontario Teachers’ and Stella Point Capital said they’ve agreed to sell First American Payment Systems to publicly traded Deluxe for $960 million. Ontario Teachers’ and Stella Point originally partnered with the technology-enabled payment processing company in 2014.
First American provides partners and merchants with omnichannel payment solutions. The two investors worked with management to enhance the company’s technology platform, pursue strategic acquisitions and accelerate organic expansion into high growth integrated payments verticals.
Karen, who is senior managing director of equities, said in a statement that Ontario Teachers’ believes “this transaction represents a terrific outcome for all stakeholders, and we look forward to continuing to watch First American prosper under the stewardship of its new owners.”
Earlier this year, Ontario Teachers’ invested in Mitratech, a provider of legal and compliance software, and teamed up with Ares Management Corp. to acquire a majority interest in TricorBraun, North America’s largest primary packaging distributor.
Ontario Teachers’ is the administrator of Canada’s largest single-profession pension plan, with 221.2 billion Canadian in net assets as of Dec. 31.
Requena leads KKR into Ornikar’s 100M euros Series C round
Lauriane Requena, who leads KKR’s Next Generation Technology Growth investing strategy in France, helps drive her firm into a Paris company that re-imagines how drivers are trained and insured. KKR led Ornikar’s 100 million euros Series C funding round, which also included existing investors Idinvest, BPI, Elaia, Brighteye and H14.
Founded in 2013, Ornikar specializes in driver training and road awareness. In a statement, Lauriane said, “we are pleased to make our latest investment in the French tech ecosystem which benefits from a unique mix of skilled engineers, a strong network of successful entrepreneurs, and a supportive public policy.”
Lauriane, who joined KKR in 2019 from Silver Lake, has also backed Wolt and ReliaQuest.
QED’s Morton and PFG’s Baghoomian guide their firms into Tribal Credit’s $34.3M combined Series A and debt round
Lauren Morton, a partner with QED Investors, and Armineh Baghoomian, a managing director with Partners for Growth, guide their firms into a company seeking to help small and medium-sized businesses in emerging markets with their financial management. QED and PFG led Tribal Credit’s $34.3 million combined Series A and debt round, which also included Endeavour Catalyst and existing investors BECO Capital, Global Ventures, OTG Ventures and Endure Capital.
Based in San Francisco, Tribal Credit provides modern payment methods like multi-currency physical and virtual business Visa cards and a spend management platform to track and control expenses. Tribal Credit’s biggest market is Mexico.
In a statement, Lauren said that QED “has been following payments and lending needs of SMEs in emerging markets and Tribal has proven itself a leader in Latin America. Compared with everything else we’ve seen in this market, Tribal has a differentiated and superior product that meets customers’ needs in a way that no competitor can match.” QED focuses on backing early-stage, disruptive financial services companies in the United States, United Kingdom, Latin America and Southeast Asia. Lauren joined the Alexandria, Va. firm in 2019 from Capital One.
PFG, a global specialty lending firm, is providing Tribal Credit’s debt facility. In a statement, Armineh said that Tribal “has identified a significant unmet need in Mexico and developed a compelling product to enhance access to financial services.” Armineh joined PFG in 2017 after roles with Solinea, Inc., Treq Labs, Vello Systems, Inc., Hambrecht & Quist and JP Morgan Partners.
Magnify Ventures’ Drake takes part in Till Financial’s $5M+ round
Joanna Drake, founding managing partner of Magnify Ventures, invests in a company that is striving to develop the future of family finance. Magnify took part in Till Financial’s more than $5 million round along with such other investors as Elysian Park Ventures, Afore Capital, Luge Capital, Alpine Meridian Ventures, The Gramercy Fund, SM Ventures and Lightspeed Venture Partners.
Till has created a collaborative family financial tool and serves the 50 million pre-banked young people that represent more than $400 billion in buying power. This tool prepares young people for entry into the modern economy with the confidence and knowledge they need to be successful. Magnify, which launched in 2020, has a partnership with Melinda Gates’ Pivotal Ventures related to backing early-stage companies that support modern families.
In a statement, Joanna said, “while the modern family unit is constantly changing, traditional family banking has not kept up with these changes. Till recognizes that families come in all shapes and sizes and provides a flexible platform that reflects today’s digital realities and how kids use technology. We invested because we see enormous potential for teaching kids, families and support systems of all income levels to learn smart spending together, ultimately leading to more fiscally responsible young adults.”
Vivo Capital’s Lu and GGV Capital’s Lee back Ronovo Surgical
Vivo Capital’s Hongbo Lu and GGV Capital’s Jenny Lee back a Chinese company focused on innovating minimally invasive and digital surgery – a company that Hongbo has known since its creation. Vivo Capital and Matrix Partners China led Ronovo Surgical’s Series A round which, in addition to GGV, also included seed investor Lilly Asia Ventures. The size of the round was not disclosed.
Based in Shanghai, Ronovo was founded in 2019 to establish a platform that democratizes minimally invasive and digital surgery in the underserved Chinese surgical market. Hongbo worked with Ronovo’s team while a managing partner at Lilly Asia Ventures.
Hongbo joined Vivo last year as a managing partner. In a statement, she said Vivo is “proud to support Ronovo and its exceptional team to achieve its vision of providing robotic solutions to the surgical market in China through innovative internal development and strategic partnerships.”
A company on whose board Hongbo served, Terns Pharmaceuticals, went public earlier this year. She is also on the boards of PINS Medical, Inc., Elpiscience and Geneception.
Also in a statement, Jenny said that GGV believes “in the team’s strong focus on customers and global partnership approach, which not only augments their internal capabilities but also accelerates the realization of their technology platform vision to address many unmet clinical needs in surgery.”
Jenny, a managing partner, was recently named to the Forbes Midas List of top Venture Capitalists for the ninth consecutive year. GGV earlier this year closed three funds, totaling $2.52 billion.
Durand takes part in VSS’s growth capital investment in Ambulatory Management Solutions
VSS Capital Partners’ Victoria Durand takes part in backing an outpatient anesthesia specialist. Terms of VSS’s growth capital investment in Ambulatory Management Solutions were not disclosed.
Based in Chicago, AMS is a turnkey provider of outpatient anesthesia and surgical and administrative services that enable physicians to provide safe in-office and ambulatory surgery center-based procedures. In a statement, Victoria said, “we think AMS’ reputation and its full-service, integrated anesthesia and administrative services model provides a solid foundation for building a national office-based anesthesia platform that is safe, efficient and fulfills a critical need for physicians and patients, while significantly reducing the cost of surgical procedures.”
Victoria has been an associate at VSS since 2017 with a focus on health care services. She is responsible for evaluating, executing, and monitoring investments. A New York investment firm, VSS invests in the health care, business services, education, and information industries.
Rathi leads Icon Ventures into Aisera’s $40M Series C round
Icon Ventures’ Preeti Rathi takes part in backing a growing, category-defining AI-driven platform. Icon led Aisera’s $40 million Series C round, which also included World Innovation Lab and existing investors True Ventures, Menlo Ventures, Norwest Venture Partners, Khosla Ventures, First Round Capital, Webb Investment Network and Sherpalo.
Based in Palo Alto, Calif., Aisera has developed a platform that automates tasks, actions and workflows for employees and customers. The new funding comes at a time of explosive growth for Aisera, achieving year-over-year growth of 300 percent and a base of more than 65 million users. The company, which has now raised more than $90 million in total funding, intends to invest the capital for the continued rapid expansion and deployment of its AI-platform in enterprise IT, HR and customer service environments, as well as significant advancements in its go-to-market strategy, marketing and product development.
In a statement, Preeti said, “in our experience partnering with category-defining companies, the benefits of Aisera's platform clearly stand out. Aisera's Conversational AI improves productivity, enables self-service resolutions, and drastically reduces service desk and operations costs. This allows its customers to focus on agility and digital transformation that will directly translate to business success and increased efficiencies.”
In conjunction with the financing, Preeti joined Aisera’s board. She is also on the board of Confluera, which has created a platform that utilizes autonomous detection and response capabilities to deal with cyber attacks. Preeti joined Icon Ventures in 2020 as a general partner. She previously had been a partner with Ignition Partners.
Melchior’s VERTU Capital leads a 60M Canadian investment in Dejero
VERTU Capital, a private equity firm founded by Lisa Melchior, recapitalizes a Canadian company which provides communications connectivity tech. VERTU led a 60 million Canadian investment in Dejero in a financing that also included Ubicom Ventures. According to Toronto’s The Globe and Mail, VERTU and Ubicom will be buying the stake held by Kayne Anderson Capital Advisors and Intelsat. Those two entities invested a combined $32 million Dejero’s 2017 Series B round.
Based in Waterloo, Ontario, Dejero will use the capital to grow its live video and data solutions. The investment is the first out of VERTU’s debt fund. Lisa was quoted as saying that Dejero “exemplifies a VERTU investment” as it “has an established world-leading technology solution and is accelerating its expansion into multiple global markets.”
Lisa formed the firm in 2017 after leaving her role as a managing director with OMERS Private Equity where she led its North American technology investment group. VERTU’s portfolio includes Firmex, a provider of virtual data rooms and secure document sharing solutions. Lisa will speak at the Virtual Leadership Unbound Summit.
NewView Capital’s Medina joins the board of Veryfi
NewView Capital’s Jazmin Medina joins the board of Veryfi after NewView leads the data transformation platform’s Series A round. TI Platform Management and existing investor Act One Ventures joined NewView in providing the San Mateo, Calif. company with $12 million.
Veryfi helps companies unlock the power of their unstructured data. More than 80 percent of an organization’s entire data set consists of unstructured data in the form of emails, PDFs, paper receipts, media files and invoices. The company’s platform is designed to securely capture, extract and transform unstructured data into valuable business intelligence.
Jazmin is also on the board of Topia and an observer on the board of Node.io. Jazmin joined NewView in 2018 after co-founding and serving as chief operating officer of Bundler TV.
Based in Burlingame, Calif., NewView was spun-out of New Enterprise Associates in 2018 with a $1.35 billion portfolio of growth-stage technology companies.
Steffens guides M12 into Databook’s $16M Series A round
M12 Managing Director Tamara Steffens guides Microsoft’s venture fund into the developer of a customer intelligence platform. M12 led Databook’s $16 million Series A round that also included Salesforce Ventures and unnamed existing investors.
Databook has partnerships with both Microsoft and Salesforce. It will put the capital toward developing new products and expanding its team.
In conjunction with the financing, Tamara joined Databook’s board. Tamara also represents M12 on the boards of Skedulo, FortressIQ, Synack, Incorta and SpyCloud and is an observer on the boards of Zipwhip, CognitiveScale, Prevedere, PandaDoc, Huue and WorkSpan.
Tamara joined M12 last fall after being general manager of business development for Microsoft. Tamara leads M12 in North America. She joined Microsoft in 2014 after the corporation acquired a company whose business development activities she led – Acompli.
Eaton joins the board of Vena after Vista Equity Partners leads Vena’s 300M Canadian Series C round
Vista Equity Partners’ Kim Eaton joins the board of Vena after the investment firm makes a sizable investment in the corporate performance management platform maker. Vista led the Toronto company’s 300 million Canadian Series C round. Two other earlier investors in the company, JMI Equity and Centana Growth Partners, will remain active.
Vena’s platform is aimed at helping companies streamline finance processes, connect teams, drive decision making and plan. It is used by more than 900 companies. In a statement, Kim said that “the pandemic has emphasized the need for agile financial planning processes as companies respond to quickly-changing market conditions, and Vena is uniquely positioned to help businesses address the challenges required to scale their processes through this pandemic and beyond.”
Kim, a managing director, joined Vista in 2019. She also is on the boards of Acquia, AGDATA, Applause, DealerSocket, Quickbase and SmartBear.
Vista has more than $75 billion in assets under management and invests exclusively in enterprise software, data and technology-enabled organizations. Vista is a sponsor of the Women’s Private Equity Summit.
Ardian sells one of Arnaud-Battandier’s portfolio companies
Ardian has sold one of Marie Arnaud-Battandier’s portfolio companies. Terms of Ardian’s sale of Lagarrigue to Naxicap Partners were not disclosed.
Based in Tolouse, France, Lagarrigue specializes in external orthopedic devices and in the design and manufacture of large-scale devices for treating disabilities. Ardian acquired the company in the fall of 2016 and directed nearly 25 add-on acquisitions.
In a statement, Marie said, “we were proud to work alongside the Lagarrigue team. They have once again demonstrated all qualities necessary to innovate and grow their company to give it the place it deserves in its market. Lagarrigue's growth potential is still significant and the group's unique position as well as its resilience provides it with a decisive advantage in the coming years, particularly with the ongoing market consolidation.”
A managing director on Ardian’s expansion team, Marie last year oversaw the firm’s acquisition of Syclef, a French company specializing in the installation and maintenance of industrial and commercial refrigeration systems. Marie has been with Ardian since 2008. Her portfolio also includes Technology & Strategy and Opteven.
An independent private investment company, Ardian has assets of $110 billion. The firm was founded by Dominique Senequier, who serves as CEO.