
Illustration: Gabriella Turrisi/Axios
Venture Capital
• Mercor, a data-labeling firm that's in litigation with rival Scale AI, raised $350m in Series C funding at a $10b valuation. Felicis led, joined by Benchmark, General Catalyst, and Robinhood Ventures. Go deeper
• SavvyMoney, a Dublin, Calif.-based financial wellness company, raised $225m co-led by PSG and Canapi Ventures, joined by insider Spectrum Equity. Go deeper
• Onfire, an Israeli sales tech platform, raised $20m from Grove Ventures, TLV Partners, IN Venture, and LeumiTech 77. Go deeper
• PodPlay Technologies, a NYC-based sports club software developer, closed an $8m Series A round led by Frontier Growth. Go deeper
🚑 Honey Health, a Mountain View, Calif.-based provider of AI agents for health care workflows, raised $7.8m in seed funding. Pelion Venture Partners led, joined by Streamlined, Burst Capital, and 8-Bit Capital. Go deeper
Private Equity
🚑 Epiphany Dermatology, an Austin, Texas-based portfolio company of Leonard Green Partners, acquired Big Sky Dermatology, a Bozeman, Mont.-based dermatology practice. Go deeper
• LegitScript, a Portland, Ore.-based TJC portfolio company, acquired Kompliant, a San Jose, Calif.-based compliance platform for banks and financial services providers. Go deeper
🚑 RestorixHealth, a Metairie, La.-based portfolio company of Marblegate Asset Management, acquired CūtisCare, a Boca Raton, Fla.-based hyperbaric medicine and hospital-based outpatient wound center network. Go deeper.
🌎 Stegra, a Swedish green steel company, is raising $1.1b, with Hy24 among the investors. Go deeper
M&A
• Next Glass, a Charlotte, N.C.-based e-commerce platform for the alcohol industry, is acquiring Ekos, a Charlotte-based supply chain management platform for craft beverages. Go deeper
💊 Fibronostics, a New Orleans-based maker of non-invasive diagnostics for metabolic diseases, acquired local ambulatory lab company Stone Clinical Laboratories. Go deeper
• SAP (NYSE: SAP) is considering a new bid for LA-based accounting software maker BlackLine (Nasdaq: BL), which rebuffed a $4.5b offer in June, per Reuters. Go deeper
Odds & Ends
⚡️BMZ Group, a German battery company, filed for insolvency for some of its key units. Go deeper
Fundraising
• Insignia Capital Group, a PE firm that takes minority stakes in biz services and consumables companies, raised $500m for its third fund. Go deeper
Its Personnel
• Heather Friedland, former chief product officer at Ancestry, was named Poshmark's first chief product officer. Go deeper
• Joseph Morrissey, EVP and head of manufacturing and supply at Organon (NYSE: OGN), was appointed interim CEO. Go deeper
• Jordan Saxemard, former president for Dyson Americas and EMEA, was named global chief marketing and digital officer at Sol de Janeiro. Go deeper
• Ajay Treon was promoted from group CFO at ISX Financial EU to executive director on the company's board. Go deeper
