Illustration: Sarah Grillo/Axios
Venture Capital
• Aven, an SF-based fintech offering home‑equity‑backed credit cards, raised $110m in Series E funding at a $2.2b post‑money valuation. Khosla Ventures led and was joined by General Catalyst, Caffeinated Capital, GIC, Electric Capital, and Founders Fund. Go deeper
🚑 Harbor Health, an Austin, Texas-based clinic and health insurer, raised $130m co-led by General Catalyst, 8VC, and Alta Partners with participation from insider DFO Management. Go deeper
• Adaptive Security, a NYC-based cybersecurity startup focused on deepfake attacks, raised $55m, including a follow-on investment from the OpenAI Startup Fund. Go deeper
• proteanTecs, an Israeli analytics platform, raised a $51m Series D led by IAG Capital Partners, with participation from Samsung Catalyst Fund, Arm and Siemens. Go deeper
• Higgsfield.ai, an SF-based video reasoning engine, raised a $50m Series A led by GFT Ventures, with participation from BroadLight Capital, NextEquity Partners, AI Capital Partners, Menlo Ventures, and Alpha Square Group. Go deeper
🚑 Predoc, a NYC-based health information management company, raised $30m in Series A and seed funding. Base10 Partners led the Series A, with participation from Northzone, Entrepreneurs Roundtable Accelerator (ERA) and ENIAC Ventures. Go deeper
💊 Ridge Biotechnologies, a Palo Alto antibody conjugate developer, raised a $25m seed round. Sutter Hill Ventures led and Overlap Holdings participated. Go deeper
🚑 Daymark Health, a Philadelphia cancer care startup, raised $20m in a Series A, per an SEC filing, Endpoints reports. Go deeper
• Palm Tree Crew, an investment holding company founded by Kygo (Kyrre Gørvell-Dahll) and manager Myles Shear, raised a $20m Series B led by WME Group. Go deeper
🚑 Teton.ai, a Danish elder care company, raised a $20m Series A led by Plural, with participation from Bertelsmann Investments, Antler Elevate and Nebular and follow-on investment from PSV Tech. Go deeper
⚡ ️Sapphire Technologies, a Cyprus, Calif.-based power generation startup, raised an $18m Series C from Mitsubishi Heavy Industries, alongside existing investors Equinor Ventures, Cooper and Company, and Energy Capital Ventures. Go deeper
⚡ ️Proxima Fusion, a German nuclear fusion startup, raised €15m in Series A extension funding from CDP Venture Capital, the European Innovation Council Fund, and Brevan Howard Macro Venture Fund. Go deeper
• Runware, an SF-based generative media startup, raised a $13m seed led by Insight Partners, with participation from a16z Speedrun, Begin Capital and Zero Prime. Go deeper
⚡ ️Nuclearn, a Phoenix-based nuclear software startup, raised a $10.5m Series A led by Blue Bear Capital, with participation from SJF Ventures, AZ-VC and Nucleation Capital. Go deeper
⚡ ️Florrent, a Northampton, Mass.-based materials developer for electric grids, raised $9.5m in seed funding led by MassVentures, joined by Raven Indigenous Capital Partners, MassMutual Catalyst Fund, Boston Impact Initiative, Sky Foundation, Elbezius and Maroon Venture Partners Fund. Go deeper
• LocalExpress, a Glendale, Calif.-based AI commerce platform, raised $6.2m led by OXZ Capital. Go deeper
• Geordie, a London-based security platform helping companies adopt AI, raised a $6.5m seed co-led by Ten Eleven Ventures and General Catalyst. Go deeper
🚑 Parento, a NYC-based paid parental leave insurance company, raised a $5.9m seed led by ResilienceVC, with participation from Kapor Capital, Bread & Butter Ventures, Operator Stack, Coyote Ventures, ffVC, Human Ventures, Springbank, Precursor, Cross Impact, K Street, Evidenced and Avesta. Go deeper
• Metal, a NYC-based operating system for private market investors, raised $5m led by Base10 Partners. metal.ai
⚡️ Dig Energy, a Cambridge, Mass.-based developer of geothermal drilling tech, raised $5m in seed funding led by Azolla Ventures and Avila VC, joined by Baukunst, Conifer Infrastructure Partners, Koa Labs, Mercator Partners, Drew Scott, and Suffolk Technologies, per TC. Go deeper
🌎 Cascade Bio, a Denver-based industrial biotech company, raised a $2.8m seed round. Endurance28 led, joined by Stray Dog Capital, 1Flourish, Range Ventures, 10VC, and Amplify. cascadebio.com
• Aurva, a Sunnyvale, Calif.-based access monitoring and AI observability platform, raised $2.2m in seed funding. Nexus Venture Partners led, joined by DeVC. Go deeper
Private Equity
🚑 Accord Asset Partners and Paras Capital Partner acquired WestStar Physical Therapy Network, a Southern California-based physical therapy provider. Go deeper
• AEA Investors' Middle Market Private Equity team and British Columbia Investment Management Corporation have acquired Pave America, a commercial paving maintenance services provider, from Trivest Partners and Shoreline Equity Partners. Go deeper
• Bansk Group acquired a majority stake in BYOMA, a skin care brand, from Yellow Wood Partners, divesting it from Future Beauty Brands. Axios Pro flashback
• Chamberlain Group, backed by Blackstone, completed its acquisition of Arrow Tru-Line, a maker of overhead garage door hardware components, from MiddleGround Capital. chamberlaingroup.com
• Eagle Merchant Partners made a strategic growth investment in Guidewell Education, a Sacramento-based college counseling and test preparation company. Go deeper
• Improving, backed by Trinity Hunt Partners, acquired MangoChango, a Dallas-based technology consulting and custom software development company. Go deeper
• Keltec Technolab, a portfolio company of Vance Street Capital, acquired Swift Filters, a manufacturer of filter and strainer elements for hydraulic applications. Go deeper
• LEHR, backed by Broadwing Capital, acquired L&W Emergency Outfitters and Alaska Safety, emergency vehicle services upfitting and personal protective equipment providers, respectively. Go deeper
• North Branch Capital invested in Rabine Doors & Docks, an Elk Grove Village, Ill.-based commercial door, dock, and security solution. Go deeper
• Polycorp, an engineered elastomer manufacturer owned by Arsenal Capital Partners, acquired Burke Industries, a San Jose, Calif.-based supplier of custom elastomeric products, from Mannington Mills. poly-corp.com
• Ridgeline Roofing & Restoration, backed by Bertram Capital, acquired Kenneth Daniel Roofing, a Littleton, N.C.-based provider of roofing services. Go deeper
🚑 Seven Hills Capital invested in CPS Infusion, an Atlanta, Ga.-based infusion provider. Go deeper
• Signature Estate & Investment Advisors, backed by Reverence Capital Partners, agreed to acquire Select Money Management, an Aliso Viejo, Calif.-based wealth management firm. Go deeper
• Sverica Capital acquired a majority stake in Raken, a San Diego-based field management platform for the construction industry. Go deeper
• Rhône acquired Copperweld, a Brentwood, Tenn.-based maker of bimetallic wiring products, from Kinderhook Industries. Go deeper
⚡Shenandoah, an underground infrastructure company owned by GenNx360 Capital Partners, acquired Nu-Pipe, a Mt. Pleasant, S.C.-based provider of pipe rehabilitation services. shenandoahus.com
Liquidity
• GFL Environmental (NYSE: GFL) acquired Superior Waste Industries, a Shawnee, Okla.-based environmental services holding company, from Red Dog Equity. Go deeper
M&A
🚑 Ascend Learning, a Leawood, Kan.-based virtual health education company, acquired Laudio, a Boston-based provider of efficiency and engagement tools for health systems backed by Oxeon and Define Ventures. Go deeper
• Baird is buying a stake in Canadian investment manager Sagard Holdings, alongside Abu Dhabi's sovereign wealth fund and the Bank of Montreal. Go deeper
• Broadridge Financial Solutions (NYSE: BR), a NYC-based fintech company, acquired iJoin, a Scottsdale, Ariz.-based retirement plan provider. Go deeper
🚑 Cohere Health, a Boston-based company automating prior authorization, acquired ZignaAI, a New Castle, Del.-based payment integrity company. Go deeper
• Diversified Energy Company has acquired Canvas Energy, an Oklahoma City-based oil and natural gas company backed by Amzak Capital Management, for $550m in cash and stock. Go deeper
• Lumelight, a Pikesville, M.D.-based benefits compliance provider, acquired ClearFile, a health plan and pharmacy benefit company. Go deeper
• Magnite, an advertising technology company, has acquired Streamr.ai, a platform that creates video ads for small businesses. Go deeper
⚡Origami Solar, a Bend, Ore.-based solar frame maker, was acquired by Nextracker for $53m. Go deeper
• SoundHound AI (Nasdaq: SOUN), a Santa Clara, Calif.-based conversational AI company, acquired Interactions, a Franklin, Mass.-based customer service agentic AI company, for $60m in cash. Interactions is backed by Comcast Ventures and Updata Partners. Go deeper
It's Personnel
• Chris Ball, former president and COO at Instructure, was named CEO of 6sense, succeeding outgoing CEO Jason Zintak, who will transition to chairman. Go deeper
• Howard Chen, Charlie Dupree and Fred Turpin were added to JP Morgan's global chair committee. Go deeper
• Mark Chicu, former DOJ antitrust acting assistant chief, joined Cornerstone Research as a senior advisor. Go deeper
• Serena Dayal (ex-SoftBank Vision Fund) and Avi Golan (ex-CEO of Sygnia) joined Athena Capital as investment partners. Go deeper
🚑 Matt Klitus was named CFO at Honor Technology. Shawn Lindquist was named chief legal officer. Klitus was formerly CFO at Lyra Health, while Lindquist was formerly chief legal officer at MX. Go deeper
🚑 Victor Ku, former VP of R&D, engineering and PMO at Headwall Photonics, joined Butterfly Network (NYSE: BFLY) as SVP and CTO. Go deeper
• Regan Gilbride joined Eagle Point Credit Management as managing director of client and partner solutions. She previously as with HPS Investment Partners. Go deeper
• Manish Goyal, former operating partner at Berkshire Partners, was named managing director and head of the portfolio support group at Percheron Capital. Go deeper
• Michael P. Leber was promoted to managing director at J.F. Lehman & Company. Peter G. Kohler and Cianan E. Moore were promoted to senior associate. Go deeper
• Kate Simpson joined outsourced CIO firm GEM as a managing director and head of venture capital. She previously was a partner with TrueBridge Capital Partners. Go deeper
• JT Taylor joined Accrual Equity Partners as managing partner. He previously led auto retail investment banking at Truist Securities. Go deeper
• Sean Tresvant was promoted to chief consumer officer and CEO of Taco Bell at Yum! Brands (NYSE: YUM). Jim Dausch was promoted to global chief digital and technology officer and president of Byte by Yum! and Ranjith Roy ("Roy") to CFO. Go deeper
Debt
⚡️EcoDataCenter, a Swedish data center developer, raised €600m in debt underwritten by Deutsche Bank Private Credit and Infrastructure to build AI data centers in Sweden. Go deeper
Odds & ends
🌎 Boston Metal, a Woburn, Mass-based low-carbon steel maker, signed a memorandum of understanding with stainless steel maker Outokumpu. Go deeper
💊 Servier, a French pharma company, agreed to pay up to $450m to U.K. biotech Kaerus Bioscience for a neurology drug. Go deeper
- Ryan Barwick, Natalie Breymeyer, Erin Brodwin, Colin Campbell, Katherine Davis, Katie Fehrenbacher, Ryan Lawler, Chris Metinko, Alan Neuhauser, Dan Primack, and Brock E.W. Turner contributed to this report.
