Market Insights

Let's Get Digital, Digital: Friday Dealbook

11/13/2020

David Chang

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This week’s deals reflect market appetite for digital transformation, especially in light of the pandemic. Targets are extending the range of services that consumers and SME’s alike desire to be able to go about their livelihoods – from accessing greater capital to securing endpoints in business processes. SentinelOne highlights the week, securing $267 million of funding for its automated cybersecurity platform, with additional features in Esign raising $151 million for its electronic signature and arbitration platform and Kuda raising $10 million for its fully digitized challenger bank platform.

OWI Focus

Top Deals This Week

SentinelOne
sentinelone.com
2013

Developer of an automated cybersecurity software designed to protect devices and servers against malware and threats. The company's cloud-based software helps in delivering autonomous security for the endpoint, data centre and cloud environments to help organizations secure their assets with speed and simplicity, unifies the detection, prevention and remediation of threats initiated by nation-states and organized crime in a single platform powered by artificial intelligence, enabling organizations to detect malicious behaviour across multiple vectors, rapidly eliminate threats with a fully-automated integrated response and adapt their defences against the advanced cyber attacks.

 

The company raised $267 million of Series F venture funding in a deal led by Tiger Global Management on November 11, 2020, putting the company's pre-money valuation at an estimated $2.73 billion. Qualcomm Ventures, Insight Partners, Third Point Ventures, and Sequoia Capital also participated in the round. The funds will be used to continue accelerating hypergrowth driven by demand for the company's platform, today's leading solution for complete enterprise protection.

ESign
esign.cn
2002

Provider of third-party electronic signature platform. The company's product includes electronic signature, digital contract, digital document storage, online enterprise certification and online arbitration services, enabling customers to improve the efficiency of document signing and save the cost of file transfer.

 

The company raised over 1 billion CNY ($151 million) of Series D venture funding in a deal led by Evergrande Real Estate Group, Fortune Capital and Shenzhen Capital Group on November 5, 2020. Grand Flight Investment Management, Vantron Capital, THE Capital (China), and Gobi Ventures also participated in the round. This round of financing will be used to continuously increase investment in product and technology research and development, focus on signing and contracting, and promote the popularization of electronic contracts on a large scale.

Kuda
kudabank.com
2016

Developer of a full-service digital-only bank platform designed to assist consumers in smartly budgeting, saving and spending. The company's platform allows the opening of a digital account synchronized with the bank which excludes unnecessary bank charges, helps in earning interest and also assists in gaining access to low-interest loans, enabling consumers to save periodically and earn interest for their savings while excluding any physical banking hassle.

 

The company raised $10 million of venture funding in a deal led by Target Global on November 10, 2020. Entrée Capital, SBI Investment, Raffael Johnen, Johan Lorenzen, Oliver Jung, Brandon Krieg, Lish Jung and Ed Robinson also participated in the round. The funds will be used for key hires, product development and to expand operations across Africa.

Spotlight

Investor Highlights

Third Point Ventures
thirdpointventures.com
2000

Founded in 2000, Third Point Ventures is the investment capital arm of Third Point LLC based in Menlo Park, California. The firm prefers to invest in information technology, mobile, retail, media, healthcare and financial service sectors.

 

Active Portfolio - 22

Investments (TTM) - 5

Med. Round Amount - $25.00M

Med. Valuation - $88.10M

# of Exits - 39

 

SentinelOne

Ushur

Curacity

Kentik

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