What companies are finding funding or having a big exit? From startup investments to grants and acquisitions, Dallas Innovates tracks what’s happening in North Texas money every Thursday. Sign up for our e-newsletter to stay in the loop.
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MedTech ULURU announces $690K equity funding raise
Addison-based ULURU Inc., a specialty medical technology company focused on developing a portfolio of wound management and oral drug delivery products, has raised $690,000 of an $8 million equity funding round, the company said in a filing with the U.S. Securities and Exchange Commission.
It’s the first filing for the company since March 2017, when ULURU reported raising $5.5 million in an equity and debt round.
On its website, ULURU says it mission is “to improve the lives of patients the world over by delivering comprehensive solutions to optimize outcomes for the key stakeholders in our healthcare systems: patients, providers, and payers.”
RevTech participates in Pensa Systems’ $10M venture round
Dallas-based retail venture capital company RevTech Ventures is one of seven investors in Pensa Systems’ $10 million venture round.
Founded in 2016, Austin-based Pensa Systems is a provider of autonomous perception systems for retail inventory visibility. Its system allows drones to monitor shelves and alert retailers in real time when a product on the shelf is out of stock. Its product helps retailers reduce stockout and optimizes product planning and helps boosts revenue, Pensa said.
Maverick Capital invests in Remrise’s $8.2M seed round
Dallas-based Maverick Capital is one of eight investors in an $8.2 million seed funding round by Remrise, a San Francisco-based health, wellness, and fitness company that offers personalized plant-powered sleep formulas.
Founded last year, Remrise also offers tools that help its clients improve their sleep and provides an online marketplace to buy organize sleeping supplements.
A global investment firm, Maverick Capital has been investing in early stage companies for more than 20 years.
Automation Anywhere raises $290M in Series B funding
Automation Anywhere, a San Jose-based company with an office in Dallas, has raised $290 million in Series B funding bring its post-money valuation to $6.8 billion, the company said in a release.
The Automation Anywhere platform uses software robots that make processes self-running in a range of industries, including (but not limited to) financial services, healthcare, insurance, life sciences, manufacturing, and telecommunications, according to the company.
Automation Anywhere says its mission is to enable companies to operate with unprecedented productivity and efficiency by automating any part of the business that can automated with what it calls “The Intelligent Digital Workforce.”
The round was led by Salesforce Ventures, with additional contributions from existing investors, including SoftBank Investment Advisers and Goldman Sachs, the company said.
The new funding brings Automation Anywhere’s total raised to date to $840 million a year after the firm secured $550 million from SoftBank Investment Advisers, General Atlantic, Goldman Sachs, NEA, World Innovation Lab, and Workday Ventures, Automation Anywhere said.
MERGERS & ACQUISITIONS
HMS Holdings to acquire Nebraska company for $155M
Irving-based HMS Holdings Corp. has agreed to buy Accent, a Nebraska-based payment accuracy and cost containment business in a deal valued at roughly $155 million.
HMS is buying the company from Intrado Corp., HIT Consultant reported.
HMS said the acquisition will expand its breadth of perspective and retrospective claims accuracy services for Medicare Advantage and commercial health plans.
Harbour Group acquires Dallas IoT tech company SpotSee
Harbour Group has acquired SpotSee, the longtime Dallas-based developer and manufacturer of shock, vibration, temperature, and other environmental condition monitors for in-transit, in-plant, and in-storage applications. No terms of the deal were released.
“With a strong reputation of operational excellence, Harbour Group is uniquely positioned to assist in our efforts to grow the business,” SpotSee CEO and President Tony Fonk said in a release. “We believe this partnership will accelerate our new product development and continue to build a strong brand in growing markets.”
SpotSee, founded in 1976, has a wide portfolio of branded products including indicator devices, RFID, Bluetooth, satellite, and cellular-connected devices that provide real-time tracking, monitoring and reporting capabilities, according to the release. It has a global network of more than 200 sales and technical partners in 62 countries. It has manufacturing facilities in Graham, Texas, and Chihuahua, Mexico.
Schwab’s acquisition of TD Ameritrade will lead to HQ relocation to DFW
The Charles Schwab Corp. has agreed to buy TD Ameritrade Holding Corp. in an all-stock deal valued at roughly $26 billion. It will eventually result in moving the combined company’s headquarters to Westlake.
Both San Francisco-based Schwab and Nebraska-based TD Ameritrade already have major campuses in North Texas, with Schwab finishing up a 1 million-square-foot regional campus on the Circle T Ranch in Westlake, and TD Ameritrade having recently completed its own regional campus in nearby Southlake.
“We have long respected TD Ameritrade since our early days pioneering the discount brokerage industry, and as a fellow advocate for investors and independent investment advisors,” Schwab President and CEO Walt Bettinger said in a statement. “Together, we share a passion for breaking down barriers for investors and advisors through a combination of low cost, great service, and technology.”
Both companies started out more than 40 years ago as alternatives to traditional Wall Street brokerages.
KKR to acquire Fort Worth-based Novaria Group
Fort Worth-based Novaria Group, a manufacturer of specialty aerospace hardware, is being acquired by the global investment firm KKR.
No financial terms of the purchase from Rosewood Private Investments and Tailwind Advisors were disclosed. The deal is being funded through KKR’s Americas XII Fund, according to a release.
Novaria is an independent supplier of complex, highly engineered components and specialty processes for the aerospace and defense industry and was founded in 2011 by CEO Bryan Perkins.
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