February SMB Software News Recap

Venture Capital

MAR 07, 2019 - Sara Defina

Each month we report on news and updates for the companies in the SurePath SMB Index — a basket of publicly traded software and technology companies that serve the SMB market.

Acquisitions and Divestitures

February was another slow month in terms of M&A activity for constituents of the SurePath SMB Index in 2018 with just one acquisition to report on.

ANGI Homeservices acquires Dallas based startup, Fixd Repair— ANGI Home services, which connects millions of homeowners across the globe to home service professionals through its portfolio of digital home service brands, has acquired Fixd Repair, a home services mobile app and home warranty solution provider that allows customers to file home warranty claims or schedule repair appointments efficiently. The acquisition is expected to be a good opportunity for ANGI Homeservices and its portfolio companies including HomeAdvior, Angie’s List and Handy, as it continues to make the home maintenance process easier for individuals. The financial details of the transaction were undisclosed.

Other SMB Index News

In other news:

Marchex sets a new industry standard for its AI powered speech analytics solution — Marchex, a leading provider of call analytics, has invested in several key enhancements to its AI powered speech analytics technology, which has led to significant improvements in both the accuracy and capacity of consumer-to-business conversation analysis.

Yelp Inc. announces the appointment of Vivek Patel to the newly created role of Chief Product OfficerMr. Patel has extensive industry experience and has spent nearly 10 years leading Yelp’s product efforts. In his new role, he will oversee Yelp’s product management function.

GoDdday announces various changes to its executive leadership team — Fara Howard will join the company as Chief Marketing Officer. Ms. Howard will lead all aspects of GoDaddy’s marketing strategy and execution. Prior to joining, GoDaddy she was the Chief Marketing Officer at Amazon Fashion. In addition, Andrew Low Ah Kee has been promoted to Chief Operating Officer, overseeing the worldwide commercial strategy and operations. The company also announced the retirement of their Chief Information Officer, Arne Josefsberg.

Zendesk appoints three new executives to its leadership team — New hires include: Elisabeth Zornes as Zendesk’s first Chief Customer Officer, Colleen Berube as Chief Information Officer and Shawna Wolverton as SVP of product management.

Deluxe Corporation announces a new relationship with Transactis, the leading electronic and payment solution provider, — the agreement will allow Deluxe Treasury Management Solutions to sell Transactis’ technology to new and existing customers which the expectation to further enhance their receivables processing capabilities.

Activity in the SMB space outside of our SMB Index

Here are some noteworthy activities that happened within the SMB space during February:

Slack has filed to go public.

Productboard, the San Francisco and Prague-based startup offering product management software raises an additional $10 million in funding.

Montreal-based POS software firm, Lightspeed, has filed to go public.

Pinterest fully automates Shop the Look, a feature allowing users to buy products from the company’s partners.

Brightcove, a leading Boston-based online video platform acquires Ooyala’s video platform for $15 million in cash and stock.

Broadly, the mobile-first communications platform for small businesses acquires San Francisco-based startup, About.me.

Ultimate Software Group goes private in a $11 billion cash deal led by Hellman & Friedman Capital Partners and The Blackstone Group.

Nav, a business financial management app that gives small businesses free access to their credit reports, raises $44 million in Series C funding.

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