May 2019 SMB Software Venture Deals

Venture Capital

JUN 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 ~$1.7B across 84 deals this past May, exceeding April’s raise of ~$1.6B to become the second largest month for total deal value in 2019. 84 completed deals in May represents the largest month for deal volume in 2019.

Deal Count, Size & Segmentation

Source: Pitchbook

Source: Pitchbook

Source: Pitchbook

Source: Pitchbook

Carta became a unicorn this month with its $300M Series E round led by Andreessen Horowitz which valued the company at $1.7B.

Carta, formerly known as eShares, was founded in 2012 in Palo Alto, California. Carta offers an ownership management platform for companies, investors, law firms, and employees and is currently used by over 10,000 entities. The platform also provides portfolio analytics, helps VCs distribute periodic investor reports, and offers third-party tax and payroll solutions.

This round more than doubled Carta’s Series D valuation of $800M in December 2018 and increased their total equity capital raised to $464M.

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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