June 2019 SMB Software Venture Deals

Venture Capital

JUL 11, 2019 - Erik Mosney

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 ~$1.1B across 89 deals this past June, besting May's 84 deals, for the largest month in 2019 for total deal volume.

Deal Count, Size & Segmentation

Source: Pitchbook

Largest Deals

Source: Pitchbook

Gig economy pioneer Thumbtack raised $120M this past June, following up on it's $125M Series G round in 2015 - interestingly enough, at the same valuation. It was also reported that the company was exploring exit opportunities prior to completing this most recent raise, which increases speculation that a deal fell through or their was no appetite at the right valuation.

In other news, Restaurant365's significant Series C raise is a continuation of our findings in our 2018 State of SMB Software Report in that restaurant tech may soon be the first ever "winner takes all" category in SMB. Over the past two years, restaurant tech has seen significant funding, more than any other SMB vertical, and we expect to see a clear market leader emerge in this market in the not so distant future.

Erik Mosney
Written By:
Erik Mosney is an Analyst at SurePath Capital Partners focused on supporting clients through the technical aspects of M&A and capital raise transactions, assessing new opportunities for SurePath and compiling market research. His past experience includes providing investment banking services to high-growth clients in the retail and technology sectors.

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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