Market Insights

The Proliferation of Digital Transformation: Friday Dealbook for 11/22/2019

November 21, 2019

Have you seen our 2019 Industry Landscape? It’s the talk of the town right now. This year saw a huge boom in the number of companies across the many segments of the digital identity industry, driven in part by strong funding and rising demand. Our featured deals this week alone brought in a collective $44.7 million for Pensa Systems, Headstart, and Bison Trails. We’re so excited to see what the next year holds for digital transformation.

 

The Top Deals Covered by OWI this Week

 

Pensa Systems \ pensasystems.com \ Founded in 2016

Developer of retail inventory system designed to offer physical inventory visibility at any point in time. The company’s system automatically and systematically tracks in-store inventory, using advanced computer vision, patent-pending artificial intelligence and autonomous drones to see and understand what is on store shelves, enabling brands and retailers to minimize stockouts, optimize product planning and increase revenue.

The company raised $12.2 million of seed funding in a deal led by ATX Venture Partners on November 19, 2019. ZX Ventures, Signia Venture Partners, Commerce Ventures, Capital Factory, RevTech Labs, James McCann, David Ritter, Yechiam Yemini and Mick Mountz also participated in the round. Previously, the company raised $5 million of Series A seed funding in a deal led by Signia Venture Partners on January 13, 2019, putting the company’s pre-money valuation at $12.5 million. ZX Ventures, Commerce Ventures, ATX Seed Ventures, REVTECH Accelerator, Capital Factory, Yechiam Yemini and Mick Mountz also participated in the round.The funds will be used by the company to accelerate deployment of its system for retail inventory visibility and store trials with large retailers and CPG brands in North America and abroad.

 

Headstart \ headstart.io \ Founded in 2016

Developer of a job matching platform designed to transform the way organizations hire. The company’s platform utilizes machine learning technology which combines psychometric testing and algorithmic analysis to offer effective, engaging and unbiased applicant review, enabling clients to find the right high potential employees regardless of gender, ethnic status, sexual orientation or age.

The company raised $7 million of seed funding in a deal led by FoundersX Ventures on November 18, 2019. Founders Factory also participated in the round. The funds will be used to expand its business internationally.

 

Bison Trails \ bisontrails.co \ Founded in 2018

Developer of a blockchain infrastructure platform intended to provide easy, transparent, and decentralized blockchain participation. The company’s crypto platform offers a full-stack offering for next-generation infrastructure and its constituents, including staking, validating, voting, transacting, and securing blockchain protocols, enabling customers to deploy the participation nodes on any blockchain, without having to develop their own security, dev ops, infrastructure, and protocol engineering competencies.

The company raised $25.5 million of Series A venture funding in a deal led by Blockchain Capital on November 19, 2019. Coinbase Ventures, ConsenSys, A Capital, Sound Ventures, Collaborative Fund, Notation Capital, Initialized Capital Management, Accomplice VC, Galaxy Digital Holdings and Kleiner Perkins also participated in the round. Previously, the company raised $5.25 million of Seed funding in a deal led by Initialized Capital Management and Accomplice VC on March 15, 2019, putting the company’s pre-money valuation at $20 million. Notation Capital, Homebrew, Distributed Global, Charge Ventures and Galaxy Digital Advisors also participated in the round.

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Investor Highlight

 

Accomplice VC \ accomplice.co \ Founded in 2014

Description of Investor

Accomplice VC is a venture capital investment firm that is based in Cambridge, Massachusetts. The firm prefers to invest in the fin-tech, artificial intelligence and information technology sectors.

Active Portfolio – 99

Investments (TTM) – 29

Med. Round Amount – $5.14M 

Med. Valuation – $23.92M

Exits – 48

 

Deal History

In the past year, Accomplice VC has invested in the following 8 identity companies:

Altitude Networks

Bison Trails

CurrencyCloud

Edgewise Networks

Flume Health

Halleman Bradley

SecurityScorecard

Torus Labs

 

*Source: PitchBook Data Inc. with proprietary keyword searches set by OWI Analysts