Week Ending 12.09.18
EVERISE ACQUIRES APPLE TECHNICAL SUPPORT FIRM
PINDROP RAISES USD 90M
MICROSOFT ADVOCATES FOR 2019 AI LEGISLATION
AND MORE ↓
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MERGERS AND ACQUISITIONS
Everise, the Singapore-based customer services company using AI, said it is acquiring Trusource Labs, which provides technical and help desk support for Apple. Terms weren’t disclosed.
CommonBond, the New York City-based student loan company, said it acquired NextGenVest, which uses AI to provide investment advice. Terms weren’t disclosed.
FILINGS
Moderna, the Cambridge, Massachusetts-based drug developer using AI, saw its shares fall 19% on the first day of trading on the Nasdaq Friday. The company raised USD 605m from an upsized initial public offering of 26.3m shares at USD 23.00.
The company originally sought USD 520m from the sale of 21.7m shares at USD 22.00 and USD 24.00 each.
FUNDING
Pindrop, the Atlanta, Georgia-based voice authentication company using machine learning, said it raised USD 90m in a Series D led by Vitruvian Partners.
Wise Systems, the Cambridge, Massachusetts-based logistical software maker using machine learning, said it raised USD 7m in a Series A led by Google’s AI-focused venture capital fund Gradient Ventures.
Canada said it invested about USD 6.3m in six companies based in Montreal. Software developer Element AI took USD 5m.
Bytedance, the Beijing, China-based company behind a news service using AI to personalize content, is raising USD 1.45bn for a venture capital fund to invest in AI and media, according to a report in The Information cited by Reuters.
In August Reuters reported the company was raising around USD 3bn at a USD 75bn valuation in the run up to a 2019 IPO in Hong Kong.
Other deals include Luminoso Technologies and WhizAI
PEOPLE
Internet of Things, the Toronto, Canada-based investment firm, said it hired Ron Shuttleworth as CEO to replace Michael Frank, who is stepping down to pursue other business opportunities. The firm is focused on investments in IoT, AI and blockchain.
Albert Technologies, the New York City-based AI marketing firm, said it hired Jasmine Presson as senior vice president of strategic client services.
Awake Security, the Sunnyvale, California-based cybersecurity company using AI, said it hired Randy Cheek as vice president of sales and Rajdeep Wadhwa as vice president of product management.
Other HR news includes Magic Leap
DATA
No data sets we track were released