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Tuesday, September 21, 2021

Tech Buzz: Kaltura goes public on Nasdaq, Bookaway raises $35m.

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After raising a record $11.9 billion in the first half of 2021, Start-Up Nation continues its red-hot streak.

On Wall Street, cloud video platform maker Kaltura is set to begin trading on the Nasdaq Global Select Market Wednesday afternoon, raising an estimated $150 million at a $1.3 billion market cap in one of the largest IPOs in the video technology sector this year. The stock was priced at $10 per share for the offering, less than originally expected. The Ramat Gan-based company has more than 1,000 customers, including Fortune 100 companies, universities, and leading media and technology companies, and had 2020 revenues of some $120 million. The stock will trade under the symbol KLTR.

On the investment scene, Bookaway said Wednesday it secured $35 million in Series B funding, backed by global investors Aleph, Corner Ventures, Entrée Capital and a group of angels led by Elad Kushnir. In less than four years, Bookaway has grown from a small Tel Aviv travel start-up to a leading portal for ground transportation operating in Asia, Latin America, Eastern Europe and the Balkans and Central America, with further plans to expand in the American, Chinese and Latin American markets. The company said it will look to use the investment to acquire other brands and expand its global coverage.

Lightico, whose next-generation digital completion platform is used by major companies in the insurance, automotive, telecom and financial industries to help millions of their customers eliminate roadblocks to deal completion, said it added $15 million to its Series B funding round led by Capital One Ventures, bringing the total round to $27 million. Lightico’s Digital Completion Cloud allows companies to gather eSignatures, collect documents, perform ID&V, accept payment and more in an app-free, secure manner, the Tel Aviv-based company said.

Sweetch, which offers a hyper-personalized engagement platform for chronic conditions, raised $20 million in Series A round of funding led by Entrée Capital. The funds will be directed toward developing its artificial intelligence (AI) and emotional intelligence (EI) behavioral science technology that engages individuals to achieve their health goals with the right message in the right tone, time and real-world context, the company said.

NoTraffic, which makes an autonomous traffic management platform that uses AI to help cities run their transport networks, raised $17.5 million in a Series A round led by Nielsen Ventures and VEKTOR Partners, a VC firm focused on mobility disruption. The Tel Aviv-based company was founded in 2017 to give city planners more insight and control over their traffic infrastructure and future-proof this infrastructure to support the rise of autonomous vehicles and other shifts in digital mobility.

Jones, a commercial real estate startup whose trusted vendor network makes work easier for tenants and property managers using software and artificial intelligence, said it raised a $12.5 million Series A led by JLL Spark and Khosla Ventures. Founded in 2017 by Israelis, Jones is based in New York with its R&D team in Tel Aviv. The company’s clients include some of the largest real estate firms in the United States, it said.

This week also saw several acquisitions. Cybereason, which said last week it raised $275 million at an estimated valuation above $3 billion, announced the acquisition of empow, a security analytics company based in Tel Aviv. The acquisition adds a number of innovative cybersecurity technologies to Cybereason’s cyber defense platform, the company said. Industry sources believe the deal was worth tens of millions of dollars.

Two-year-old DevOps company Apolicy was acquired by Sysdig to provide a Kubernetes automation solution for orchestrating policies and risk management. The Apolicy team, which is based in a moshav near Netanya, will join the Sysdig team, and its product offering will be incorporated as part of the Sysdig Secure DevOps Platform. The value of the deal was not disclosed.  

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