February 2019 SMB Software Venture Deals

Venture Capital

MAR 12, 2019 - KJ Lee

Each month, we look at funding activity for startups serving the SMB space. See last month’s post here. To learn more about SurePath’s SMB software focus and our SMB Software Thesis, send us a message at info@surepathcapital.com.

SMB software companies raised ~$2.2B across 72 deals this past February, a significant increase in deal size and volume compared to the ~$940M raised in January 2019 across 71 deals driven by a colossal $1.0B round led by SoftBank Group.

Deal Count, Size & Segmentation

Largest Deals

SendBird, a San Mateo California-based developer of chat platform with clients ranging from NBA, Reddit, Asian Uber rival Go-Jek, and Hinge raised $52M Series B round led by ICONIQ Capital, with participation from FundersClub, Shasta Ventures, August Capital, and Y Combinator. The funding increased the company’s valuation from $250M pre-money valuation to $302M post-money valuation. The proceedings will be used to further expand its product offering and hire new talent.

KJ Lee
Written By:
KJ Lee is an Analyst at SurePath Capital Partners who is responsible for supporting clients through all technical aspects of M&A and capital raise transactions, assessing new opportunities for SurePath and compiling market research. His prior experience includes supporting a $43 million Series B as an FP&A manager at FreshBooks.

About SurePath Capital

Based in Toronto and San Francisco, SurePath Capital Partners is the only investment bank focused exclusively on the global SMB software market. We work with sellers in this market to ensure they are funded for growth and positioned for meaningful exits. In addition, we work with buyers in this market to help shape their strategy and execute acquisitions.

Follow us on LinkedIn and Twitter for regular updates on deals and trends and in the SMB software market. Say hello: info@surepathcapital.com

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