A South Korean startup called QuotaLab is on a quest to follow in the footsteps of Carta, the cap table management company that’s used by a host of startups and investors in the U.S.Carta started life as “eShares” in 2012 as a cap table management service that startups could use to issue equity to their investors and employees.
Today, its stable of offerings has expanded to include everything from valuation and equity management, to bookkeeping, risk assessment and brokerage services.
A Y Combinator alum, QuotaLab also started off as an equity management service (called QuotaBook) for startups and investors in South Korea.
It also offers investment management such as investments, returns, asset changes, markdowns, valuations, accounting, e-approvals and risk management,” Choi added.
According to Choi, the equity management market has many sides you can tackle.
As an extension round, the valuation is also remaining flat, at $2.6 billion.
(Prior to that, the company raised a $100 million round in 2021 at a $1.2 billion valuation.)
“I didn’t feel the need to increase the valuation from the last round,” CEO and founder Dean Sysman, answered when asked about the decision.
Axonius is one of a group of specialist firms building platforms to help manage this.
“We’ve been a longstanding partner of Axonius, and we like to double down into our best performing companies.
Everbridge, a critical event management (CEM) software company, is going private in a $1.8 billion all-cash deal that will see it taken over by private equity giant Thoma Bravo — 20% more than what was originally announced last month.
Things never recovered, with its valuation hovering at below the $1 billion mark for the past six months.
Premium planThoma Bravo, a private equity firm renowned for snapping up underperforming enterprise software firms, is effectively paying a premium in excess of 83%* on Everbridge’s market cap on February 2.
“We look forward to working with Everbridge to expand their ability to capitalize on opportunities in an expanding marketplace for risk, compliance, and safety solutions,” Thoma Bravo partner Hudson Smith said in a press release.
*This article was updated on March 1, 2024, with amended acquisition price and premiums after Everbridge’s “go shop” process yielded greater interest.
Rec, a new startup aiming to improve the local recreation experience, launched out of stealth today.
The platform’s offerings cater to four groups: residents, community organizers, coaches, and city staff.
Meanwhile, Parks and Rec departments gain access to booking, workforce management, and marketing tools.
In almost every partnership, launching Rec has resulted in both incremental participation from residents and incremental revenue for the Parks Department,” Rec explains.
“Our current focus is to build Rec hand in hand with Parks & Rec departments to give them the tools needed to give residents a reimagined recreation experience.
Paris-based cybersecurity startup Filigran is capitalizing on the success of OpenCTI to build a suite of open-source threat management products.
The company has already found some early traction with OpenCTI, its open-source threat intelligence platform.
It’s a threat intelligence platform that lets you gather threat data from multiple sources in a single interface.
OpenBAS can be used as a standalone product, but it works better if you’re already using OpenCTI as it can use the threat intelligence data in OpenCTI.
There will be another two products in Filigran’s eXtended Threat Management (XTM) product suite that focus on data-driven risk analysis and crisis management.
Spain’s Embat, which has raised $16M, plans to compete with Trovata in real-time accountingFor obvious reasons, financial teams can spend a great deal of time on corporate treasury management, accounting and bank reconciliation, so anything that speeds up that process usually garners a lot of interest.
Today Embat, a Spanish fintech which does what they call “real-time treasury management”, has closed a financing round of $16 million Series AS led by Creandum.
Their solution automates accounting and bank reconciliation, and deals with corporate treasury management, centralising collections, payments, and treasury processes, thus saving time, says the startup.
Last year Embat partnered with Google Cloud’s Vertex AI platform in an effort to reduce errors for accounting teams.
Tomás Gil, co-founder and CTO of Embat, said the company has “significantly improved” its accounting and bank reconciliation module and was now applying AI to its platform.
The European Union is formally investigating TikTok’s compliance with the bloc’s Digital Services Act (DSA), the Commission has announced.
Although the EU’s concerns over TikTok’s approach to content governance and safety predate the DSA coming into force on larger platforms.
Commenting in a statement, Margrethe Vestager, EVP for digital, said:The safety and well-being of online users in Europe is crucial.
The EU may also accept commitments offered by a platform under investigation if they are aimed at fixing the issues identified.
In TikTok’s case the platform informed the bloc last year that it had 135.9M monthly active users in the EU.
Nearly 10 years ago, in April 2015, I published a blog called “Confronting the ‘S’ word: Dealing with general partner succession.” As the founder and managing partner of Vintage, I wanted to ensure that Vintage would survive after I retire.
Succession management is more critical now than ever before.
[The succession process] requires an open and genuine dialogue between the senior retiring and incoming management teams.
Implementing the succession process early: A fund management team needs to start the process and implement the mechanisms at least five to seven years before the current leadership team transitions out.
It is common for the founding or the current managing partner to start phasing out in their late 50s or early 60s.
The company provides community and regional banks with end-to-end deposit management capabilities, including a deposit network so bank customers can grow, retain and manage their deposit base by sourcing deposits, sweeping funds and providing additional security to depositors.
In fact, ModernFi, founded in 2022 by Paolo Bertolotti and Adam DeVita, raised $4.5 million in a seed round a month prior to the SVB news.
Canapi Ventures led the round and was joined by Andreessen Horowitz, Remarkable Ventures and a group of banks including Huntington National Bank, First Horizon and Regions.
“On this whole notion of deposit growth, retention management became first, second and third priority for a lot of institutions.
Bertolotti plans to grow in engineering, new product development, compliance and regulatory adherence and in business development.
TravelPerk, a business travel management platform targeted at SMEs, has raised $105 million in a fresh equity-based round of financing led by SoftBank’s Vision Fund 2.
“In today’s climate, where startup funding is down by half and valuations are down across the board, this is a healthy and sober valuation,” Meir told TechCrunch.
Well-traveledFounded in 2015, Barcelona-based TravelPerk sells an all-in-one platform for companies to book, manage, and report all their domestic and international travel.
Customers can also extend the platform through integrations with expense management systems like Spendesk and HR software such as HiBob.
“[An] IPO has never been an objective per se for TravelPerk,” Meir said.
