Sent: Thu, 17 Feb 2022 20:29:58 +0000
To: [email protected]
Subject: Dallas Deal Highlights – Mid Q1 2022
Dallas-Fort Worth Deal Highlights
Mid Q1 2022
Alright folks, I am back in your inbox, checking-in on venture funding activity for the first half of Q1 2022 in the Big D. It’s hard to replicate the massive Q4 we had, but things certainly have started a little slower than what we have grown accustomed to see in the North Texas region. With 13 deals thus far in the quarter, we have pulled in just north of $40M to start the year. Let’s chalk it up to everyone finally taking a vacation, and waiting until the 2nd half of the quarter to announce their deals!
Venture Funding in Dallas-Fort Worth
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5 Biggest Deals of Q1 Thus Far Exit Activity in 2021
Here are your 10 biggest venture deals of the quarter:
- Krista Software, a Dallas-based conversational AI platform, raised $15M of venture funding in a deal led by Grotech Ventures
- Nacuity Pharmaceuticals, a developer of healthcare therapies for ophthalmological disorders, raised $11.6M of venture funding from undisclosed investors.
- CollateralEdge, a debt capital delivery fintech platform and led by former Perot Jain partner Joe Beard, reporting raising $3.35M from undisclosed investors. Last September, the company raised $3.5M of seed funding from Perot Jain, Joshua Baer and Kneeland Youngblood.
- PlantSwitch, a Dallas-based plant-based products manufacturer, announced a $3.25M seed raise from undisclosed investors.
- Listeners on Call, a communication platform for loneliness and mental health, raised $1.8M of venture funding from undisclosed investors. Previously, the company raised $2.9M through a combination of Seed funding from Trousdale Ventures in November 2021.
M&A Activity
On a similar thread to the venture funding, our M&A deal activity is starting a tad light. We have had 16 acquisitions thus far in the quarter, all choosing to not disclose the purchase price. Again, it’s hard to compare against the $18B+ in Q4, which was the biggest quarter on record since 2010, but I am expecting big things in 2022 nonetheless.
M&A Activity in Dallas-Fort Worth for Tech and Healthcare Deals
Notable M&A Deals in Q1 Thus Far
- Dealer Safeguard Solutions, a McKinney-based platform designed to manage the automotive dealership business, was acquired by Credit Bureau Connection, via its financial sponsor The CapStreet Group, for an undisclosed amount.
- FBFlurry, a Dallas-based technology driven fulfillment and customer care service operator, was acquired by Cart.com for an undisclosed amount. The company had raised an undisclosed amount from ward.ventures, whereas Cart.com, who is based in Austin, announced a $240M raise earlier this month.
- FieldRoutes, a Mckinsey-based home servicing SaaS company, announced being acquired by ServiceTitan with terms undisclosed. The company raised $37M from Mainsail Partners in 2018, and received a majority investment from Gryphon Investors in 2020.
- Olivia, a Plano-based AI-powered personal financial assistant, was acquired by Nubank (NYS: NU) for an undisclosed amount. The company had previously raised approx. $8.4M.
- PELITAS, a Plano-based provider of healthcare patient access, digital patient intake, and front-end revenue cycle management software solutions, was acquired by nThrive, a healthcare revenue cycle management platform backed by Clearlake Capital Group, for an undisclosed amount.
- WooCart, a provider of ecommerce solutions, was acquired by Hostpapa for an undisclosed amount
Will check back in at the end of Q1. Stay classy out there.
Thank you!
