Sourcery (5/24-5/28)
Klarna, Snapdocs, Homeward, SpotOn, Wayflyer, Fold, Tilled, Axle, Noom, Qualio, Hello Heart, Every/Body, Clearing, Hyro, Flume, Docbot, Perch, Forter, Xanadu, Airbyte, Jumpstart, Brighthire...
Last Week (5/24-5/28):
Relevant deals include the 60+ deals across stages below.
I've categorized the deals below into four categories, Fintech,Care, Future of Work, and Sustainability, and ordered from later-stage rounds to early-stage rounds. Highlighted deals include Klarna, Snapdocs, Homeward, SpotOn, Wayflyer, Resolve, Parametrix, Corvus, Fold, Tilled, Axle, Noom, Qualio, Hello Heart, Every/Body, Clearing, Hyro, AcuityMD, Flume, Docbot, Perch, Contentsquare, Forter, Xanadu, Fareye, Salt, Tessian, RevenueCat, Poparazzi, Airbyte, Jumpstart, Commerce Layer, Brighthire, Greg, QuickNode, Skiff, Treet, Bowery Farming, Aurora Solar, Kula Bio, Boox, Recyclops; WaveOptics, TextIQ, Ministry Brands, Clause; Flywire, Paymentus, FIGS, ZipRecruiter, Vimeo; Acorns
Final numbers on U.S. IPO Performance and SPAC Interest at the bottom.
Deals
Sources: TS, Pro Rata, FinSMEs, Pitchbook, StrictlyVC
Fintech:
- Klarna, the Sweden-based fintech known for its “buy now, pay later” model, is reportedly nearing a fundraising deal led by SoftBank that could value it at over $40 billion, Insider reported.
- Snapdocs, a San Francisco-based digital mortgage closing platform, raised $150 million in Series D funding led by Tiger Global at more than a $1.5 billion valuation. Other backers include Sequoia Capital, YC, F-Prime, Maverick, Alkeon and Wellington Management. http://axios.link/fv8u
- Homeward, an Austin, Texas-based residential home-buying enablement platform, raised $136 million in Series B funding. Norwest Venture Partners led, and was joined by insiders Adams Street, Javelin and LiveOak Venture Partners. http://axios.link/x4j6
- Paysend, a London-based international payments platform, raised $125 million in Series B funding. One led the round and was joined by investors including Infravia Growth Capital, Hermes GPE Innovation Fund, and Plug and Play.
- SpotOn, a San Francisco-based software and payments company, raised $125 million in Series D funding, valuing it at $1.9 billion. Andreessen Horowitz led the round and was joined by investors including DST Global, 01 Advisors, Dragoneer Investment Group, Franklin Templeton, and Mubadala Investment Company.
- Agicap, a France-based cash-flow management platform for small businesses, raised $100 million in Series B funding. Greenoaks led the round and was joined by investors including BlackFin Capital Partners and Partech.
- Wayflyer, a Dublin-based revenue-based financing company for ecommerce merchants, raised $76 million in Series A funding. Left Lane Capital led the round and was joined by investors including DST Global, QED Investors, Speedinvest and Zinal Growth.
- ComplyAdvantage, a London-based financial crime detection company, raised $70 million in Series C funding. Goldman Sachs led the round.
- Resolve, a San Francisco-based billing company that spun out of Affirm, raised $60 million in funding. Investors in the round include Initialized Capital, KSD Capital, Haystack VC, Commerce Ventures, and Clocktower Ventures.
- Stavvy, a Boston-based fintech platform focused on mortgages, raised about $40 million in Series A funding. Morningside Technology Ventures led the round.
- Matera, a Paris-based maker of residential property management software, raised €35 million ($43 million) in Series B funding. Mubadala Capital led the round and was joined by investors including Bpifrance, Burda Principal Investments,Index Ventures and Samaipata.
- ProducePay, a Los Angeles-based financing and marketplace platform for the fresh produce market, raised $43 million in Series C funding. G2VP led, and was joined by International Finance Corp., IDB Invest, Anterra Capital, Coventure, Astanor Ventures, IGNIA and Finistere. www.producepay.com
- Solidus Labs, a New York City-based crypto risk monitoring company, raised $20 million as part of its Series A round. Evolution Equity Partners led the round and was joined by investors including Hanaco Ventures, 645 ventures, FTX and Avon Ventures.
- Sentieo, a San Francisco-based financial and corporate research platform provider, raised $20 million in Series B funding. Ten Coves Capital led the round and was joined by investors including Centana Growth Partners and Studio Management.
- Parametrix, an Israel-based provider of insurance for companies experiencing downtime from vendors, raised $17.5 million. FirstMark Capital and F2 Venture Capital led the round.
- Corvus Insurance, a Boston-based provider of commercial insurance products backed by A.I.-driven risk data, raised $15 million in additional Series C funding. FinTLV and Aquiline Technology Growth led the round.
- Overture Life, a IVF process automation startup, raised $15 million in Series B funding. Octopus Ventures and Google Ventures invested.
- Fold, a San Francisco-based Bitcoin rewards app, raised $13 million in Series A funding. Craft Ventures led the round and was joined by investors including M13, Slow Ventures and Bessemer Venture Partners.
- Tilled, a Boulder, Colo.-based payments facilitator software company, raised $11 million in Series A funding. Rebecca Lynn from Canvas Ventures led the round and was joined by investors including Abhinav Tiwari (former head of investments and M&A at Stripe), Henry Ward (CEO at Carta), and existing investors including Abstract Ventures, Peterson Ventures, and Clocktower Technology Group.
- Obie, a Chicago-based provider of insurance to landlords and investment property owners, raised $10.7 million in Series A funding. Battery Ventures led the round and was joined by investors including Thomvest Ventures, Funders Club, MetaProp, and Second Century Ventures.
- Mile Auto, an Atlanta-based insurtech company using computer vision and decision analytics to offer car insurance based on mileage, raised $10.3 million in seed funding. Investors include Ulu Ventures, Emergent Ventures, Thornton Capital, and Sure Ventures.
- Axle, a New York-based payments company focused on the freight industry, raised $10 million in Series A funding. Crosslink Capital led the round and was joined by investors including FJ Labs, Flexport, Tribeca Early Stage Partners, Anthemis Group, Techstars and Plug and Play Ventures.
- Verituity, a McLean, Va.-based digital payments platform, raised $10 million in Series A funding. ForgePoint Capital and Ardent Venture Partners led the round.
- Leif, a New York City-based outcome-based tuition financing platform, raised $10 million. Insita Group invested.
- Future Family, a San Francisco-based fintech, fertility, and concierge care startup, raised $9 million in Series A-1 funding. Mindset Ventures and OurCrowd led the round.
- Evertas, a Chicago-based crypto insurance company, raised roughly $5.8 million in seed funding. Morgan Creek Digital, CMT, and HashKey are among the investors.
- iLife, a Playa Vista, Calif.-based maker of branded, digital insurance, raised $4 million in seed funding. Foundation Capital led the round and was joined by investors including AME Cloud Ventures and Cherubic Ventures.
. . .
Care:
- Noom, a New York City-based health and dieting platform, raised $540 million in Series F funding. Silver Lake led the round and was joined by investors including Oak HC/FT, Temasek, and Novo Holdings. Existing investors Sequoia Capital, RRE, and Samsung Ventures also participated.
- Akili Interactive, a Boston-based prescription video game treatment company, raised $110 million in Series D funding. Neuberger Berman Funds led the round and was joined by investors including Polaris Partners, Mirae Assets, Shionogi & Co, and New Leaf Venture Partners.
- Ada Health, a Berlin-based digital health assessment company, raised $90 million in Series B funding. Leaps by Bayer led the round and was joined by Samsung Catalyst Fund, Vitruvian Partners, Inteligo Bank, F4, and Mutschler Ventures.
- Qualio, a San Francisco-based maker of cloud quality management system software for the life sciences companies, raised $50 million in Series B funding. Tiger Global led the round and was joined by investors including Menlo Ventures,Frontline Ventures, MHS Capital, Operator Partners, Sorenson Ventures, and Storm Ventures.
- Hello Heart, a Menlo Park-based smartphone app to monitor and track heart problems, raised $45 million in Series C funding. IVP led the round and was joined by investors including Khosla Ventures, BlueRun Ventures, Maven Ventures, and Resolute Ventures.
- Ever/Body, a New York City-based cosmetic dermatology provider, raised $38 million in equity and debt Series B funding. Tiger Global Management led the round and was joined by investors including Addition, Fifth Wall, MetaProp, and Gaingels. The company says the raise is primarily in equity.
- Clearing, a New York City-based pain relief startup, raised $20 million in funding. Investors included Bessemer and Founders Fund.
- Octave, a San Francisco-based mental health startup, raised $20 million in Series B funding. Health Velocity Capital led the round and was joined by investors including Cigna Ventures, Greycroft, Obvious Ventures, Company Ventures and Felicis Ventures.
- Loyal, a San Francisco-based company developing a drug to delay aging in dogs, raised $11 million. Investors included Greg Rosen (Box Group), Laura Deming (The Longevity Fund), First Round Capital (Josh Kopelman), and Collaborative Fund (Taylor Greene).
- Hyro, a New York-based conversational AI for the healthcare sector, raised $10.5 million in Series A funding. Spero Ventures led, and was joined by Twilio, Mindset Ventures and insiders Hanaco Ventures, Spider Capital and Entrepreneurs Roundtable Accelerator.http://axios.link/3Q6a
- AcuityMD, a Boston-based targeting platform for medical device companies, raised $7 million. Benchmark led, and was joined by Ajax Health. www.acuitymd.com
- Flume Health, a New York City-based health plan administration platform, raised $6 million. Crosslink Capital led the round and was joined by investors including Route 66 Ventures and Convene CEO Ryan Simonetti, Accomplice, Founder Collective and Primary Venture Partners.
- Docbot, an Irvine, Calif.-based A.I. company focused on gastrointestinal disease, raised $4 million in Series A funding. Khosla Ventures led the round and was joined by investors including Bold Capital Partners, Collaborative Fund and Boutique Venture Partners.
. . .
Future of Work:
- Perch, a Boston-based acquirer of Amazon third-party brands, raised $775 million in Series A funding. Softbank Vision Fund 2 led the round and was joined by investors including Spark Capital and Victory Park Capital.
- Contentsquare, a New York City-based digital experience analytics company, raised $500 million in Series E funding. SoftBank Vision Fund 2 led the round and was joined by investors including Eurazeo, Bpifrance, KKR, Canaan, Highland Europe, and BlackRock.
- Forter, a New York-based provider of e-commerce fraud prevention solutions, raised $300 million in Series F funding at a $3 billion valuation. Tiger Global led, and was joined by Third Point Ventures, Adage Capital Management and insiders Bessemer Venture Partners, Sequoia Capital, March Capital, NewView Capital, Salesforce Ventures and Scale Venture Partners.http://axios.link/E8hy
- Xanadu, a Toronto-based quantum computing company, raised $100 million in Series B funding. Bessemer Venture Partners led the round and was joined by investors including Capricorn, Tiger Global, BDC Capital, In-Q-Tel, Georgian, OMERS, and Tim Draper.
- FarEye, a Chicago-based delivery management platform, raised $100 million in Series E funding. TCV and Dragoneer Investment Group led the round and were joined by investors including Eight Roads Ventures, Fundamentum and Honeywell.
- Salt Security, a Palo Alto, Calif.-based API security company, raised $70 million in Series C funding. Advent International led the round and was joined by investors including Alkeon Capital, DFJ Growth, Sequoia Capital, Tenaya Capital, S Capital VC, and Y Combinator.
- Tessian, a cybersecurity startup, raised $65 million in Series C funding valuing it at $500 million. March Capital was the lead investor, while other participants included Accel, Balderton Capital, Latitude Venture Partners, Sequoia Capital, and Schroder Adveq.
- Venn, a New York City and Tel Aviv-based neighborhood engagement company, raised $60 million in Series B funding. Group 11 led the round and was joined by investors including MIGDAL, Pitango, Helmsley Charitable Trust, and Bridges Israel.
- Qualified, a San Francisco-based sales and marketing platform for companies that use Salesforce, raised $51 million. Salesforce Ventures led the round and was joined by investors including Norwest Venture Partners and Redpoint Ventures.
- Whatnot, a Los Angeles-based live-shopping platform, raised $50 million in Series B funding. Anu Hariharan from Y Combinator Continuity led the round and was joined by investors including Andreessen Horowitz, Animal Capital, musicians Ryan Tedder and DJ Skee with Mint 10, NFL players DeAndre Hopkins and Bobby Wagner, and Jeremy Padawer.
- Uptycs, a Waltham, Mass.-based security analytics platform, raised $50 million in Series C funding. Norwest Venture Partners led the round and was joined by investors including Sapphire Ventures and ServiceNow Ventures.
- CMX, a San Diego-based enterprise quality management software maker, raised $50 million in Series A funding. Morgan Stanley Expansion Capital invested.
- Yalo, a San Francisco-based customer engagement software maker for commerce companies, raised $50 million in Series C funding. B Capital Group led the round.
- AnyClip, a New York City and Tel Aviv-based video analytics company, raised $47 million. JVP led the round.
- RevenueCat, a San Francisco-based platform offering development tools for subscription model apps, raised $40 million in Series B funding. Y Combinator’s Continuity Fund led the round and was joined by investors including Index Ventures, SaaStr, Oakhouse, Adjacent, FundersClub, Tobias Balling (Blinklist CTO) and Nicolas Dessaigne (Algolia CEO).
- Material Security, a San Francisco Bay Area-based company with cybersecurity for email accounts even after they have been compromised, raised $40 million in Series B funding. Elad Gil led the round and was joined by investors including a16z’s Martin Casado.
- Faculty, a U.K.-based A.I. company, raised £30 million ($42.5 million) from Apax Digital Fund.
- DataDome, a New York City-based AI platform that protects e-commerce businesses from bots and fraud, raised $35 million in Series B funding. Elephant led the round and was joined by investors including ISAI.
- Poparazzi, a Marina del Rey, Calif.-based newly launched photo sharing app from TTYL, is reportedly raising Series A funding of up to $20 million led by Benchmark that could value the company at up to $135 million, Forbes and tech journalist Eric Newcomer reported.
- SevenFifty, a New York City-based provider of web-based and mobile technology solutions for the alcoholic beverage industry, raised $23 million in new funding. Level Equity led the round.
- Airbyte, a San Francisco-based maker of an open-source data integration platform, raised $26 million in Series A funding. Benchmark led the round and was joined by investors including 8VC, Accel, SV Angel, and Y Combinator.
- Lightrun, a Tel Aviv-based debugging and observability company, raised $23 million in Series A funding. Insight Partners led the round and was joined by investors including Glilot Capital Partners.
- Rewatch, a San Francisco-based maker of a security-focused video platform for companies, raised $20 million in Series A funding. Andreessen Horowitz led the round and was joined by investors including Semil Shah at Haystack and Kent Goldman at Upside Partnership.
- Jumpstart, a San Francisco-based diversity-focused recruiting platform, raised $20 million. Lachy Groom and Sequoia Capital led the round and were joined by investors including Four Rivers Capital.
- 7shifts, a Canada-based labor management platform for restaurants, raised $21.5 million in Series B funding. Enlightened Hospitality Investments led the round and was joined by investors including Ten Coves Capital, Relay Ventures, and Conexus Venture Capital.
- Commerce Layer, a Wilmington, Del.-based commerce API company, raised $16 million in Series B funding. Coatue Management led the round and was joined by investors including Benchmark and Mango Capital.
- Fireflies.ai, a Pleasanton, Calif.-based maker of a transcription and search platform, raised $14 million. KhoslaVentures led the round.
- BrightHire, a New York City-based interview intelligence platform, raised $12.5 million in Series A funding. Index Ventures led the round and was joined by investors including Next Play Ventures, Flybridge Capital, and Ground Up Ventures.
- GridX, a Milpitas, Calif.-based provider of operations support solutions to utilities and energy suppliers, raised $12 million in Series B funding. Energy Impact Partners led the round.
- Beacons, a San Francisco-based landing page for creators, raised $6 million in seed funding. Andreessen Horowitz led the round and was joined by investors including Atelier Ventures, The Chainsmokers’ Mantis Fund, Night Media Ventures and LOUDgg.
- Greg, an app that helps people care for their plants, raised $5.4 million in seed funding. Index Ventures led the round and was joined by investors including First Round Capital.
- QuickNode, a Miami-based developer platform for building applications on the blockchain, raised $5.3 million in seed funding. Seven Seven Six led the round and was joined by investors including SB Opportunity Fund, Arrington XRP Capital, Crossbeam.vc, and Anthony Pompliano.
- Emile, a Los Angeles-based maker of on-demand courses for students, raised $5.3 million in seed funding. Kleiner Perkins led the round and was joined by investors including Owl Ventures, Hannah Grey VC, Supernode Ventures, SoftBank’s Opportunity Fund, and Uber Alumni Syndicate.
- Topia, a Indio, Calif.-based video chat platform, raised $5 million in seed funding. Seven Seven Six led the round and was joined by investors including Bonfire Ventures.
- MindPortal, a San Francisco-based maker of a wearable computer controlled by the brain, raised $5 million in seed funding. Learn Capital led the round and was joined by investors including Kleiner Perkins.
- Reclaim.ai, a Portland-based calendar assistant and time management platform, raised $4.8 million in seed funding. Index Ventures led the round and was joined by investors including Gradient Ventures, Flying Fish, Operator Partners, and Calendly.
- ARTA, a New York City-based logistics software and fulfillment services company for high-value goods and collectibles, raised $4.5 million in seed funding. Investors include Corazon Capital, Gaingels Ventures and Flight.VC.
- Skiff, a San Francisco-based maker of an encrypted competitor to Google Docs, raised $3.7 million in seed funding. Sequoia Capital led the round.
- Tiv, a Chicago-based payments and rewards platform for gamers, raised $3.5 million in seed funding. 4490 Ventures led the round and was joined by investors including Silverton Partners and angel investors.
- Grain, a San Francisco-based video recording and transcription startup raised $3 million in funding. Freestyle Capital led the round and was joined by investors including Slack Fund, Acrew Capital, and Founder Collective.
- Treet, a San Francisco-based resale platform, raised $2.8 million. Investors include Bling Capital, BAM Ventures, BBG Ventures, Interlace Ventures, and V1.VC.
- Linq, a Birmingham, Ala.-based personalized networking app, raised $2.5 million in seed funding. Mucker Capital led the round and was joined by investors including Alabama Futures Fund and Shipt founder Bill Smith.
. . .
Sustainability:
- Bowery Farming, a vertical farming company, raised $300 million in Series C funding at a $2.3 billion valuation. Fidelity led, and was joined by Amplo, Gaingels and insiders GV, General Catalyst, GGV Capital, Temsek, Groupe Artémis. http://axios.link/X5Gm
- Aurora Solar, a San Francisco-based software platform for solar sales and design, raised $250 million in Series C funding. Coatue led the round and was joined by investors including ICONIQ Capital, Energize Ventures and Fifth Wall.
- Kula Bio, a Boston-based company focused on sustainable nitrogen fertilizers, raised $10 million in seed funding. Collaborative Fund led the round and was joined by investors including Nature Conservancy, LowercarbonCapital, and the Grantham Environmental Trust’s Neglected Climate Opportunities Fund.
- Boox, a sustainable e-commerce infrastructure startup, raised $9.25 million in Series A funding. Valor Siren Ventures led, and was joined by Village Global and Kid VC. http://axios.link/Ucu6
- Gridware, a Sacramento, Calif.-based power grid startup, raised $5.3 million in seed funding. Priscilla Tyler of True Ventures and Seth Bannon and Shuo Yang of Fifty Year led the round.
- Recyclops, a Sandy, Utah-based recycling startup with curbside pickup, raised $3 million in seed funding. Lerer Hippeau and Glad, a member of The Clorox Company, led the round alongside Revolution’s Rise of the Rest Seed Fund and the Utah-based Kickstart.
Acquisitions & PE:
- Snap (NYSE: SNAP) agreed to buy WaveOptics, a British maker of waveguide displays, for over $500 million. WaveOptics had raised $65 million from firms like Octopus Ventures, Robert Bosch VC, GoerTek, Gobi Ventures, IP Group, Touchstone Innovations, Hostplus Superannuation Fund and Optimas Capital Partners. http://axios.link/pOp0
- Relativity, backed by Silver Lake, acquired Text IQ, a New York City-based firm using AI to identify sensitive data. Per a source familiar with the matter, the transaction consideration was over $100 million.
- Altamont Capital Partners acquired INTERMIX, an omnichannel fashion retailer, from Gap (NYSE: GAP). Financial terms weren't disclosed.
- Axel Springer is in talks to acquire Axios, an Arlington, Va.-based digital news outlet, per the Wall Street Journal and the Information. Axios is hoping the deal will value the company at $400 million to $450 million.
- Insight Partners is weighing an exit of Ministry Brands, a Lenoir City, Tenn.-based maker of software tailored to faith-based organizations, per PE Hub.
- The New York Times (NYSE: NYT) is in talks to buy The Athletic, a sports media content startup that's raised $145 million in VC funding, Axios' Sara Fischer has learned from multiple sources. Go deeper.
- DocuSign agreed to acquire the intellectual property rights to Clause, a New York-based “smart agreements” platform. Financial terms weren’t disclosed.
. . .
IPOs:
- Flywire, a Boston-based vertical payments company, raised $251 million in its IPO. The company priced at the high end of its $22-$24 range, for a $2.8 billion fully diluted value and will list on the Nasdaq (FLYW). Flywire reports an $11 million net loss for 2020 on $132 million in revenue, and raised $263 million from Bain Capital Ventures (15.5% pre-IPO stake), Spark Capital (14.5%), Temasek (11.7%), F-Prime Capital (7%), Goldman Sachs (6.7%), Tiger Global and Adage Capital Management. http://axios.link/RRtk
- Paymentus, a Charlotte-based electronic payments company owned by Accel-KKR, raised $210 million in its IPO. The company priced at the high end of its $19-$21 range, for a $2.6 billion fully diluted value, and will list on the NYSE (PAY). It reports a $14 million profit for 2020 on $302 million in revenue. http://axios.link/BXBc
FIGS, a Santa Monica, Calif.-based medical scrubs and healthcare apparel brand, raised $580 million in its IPO. The company priced 26.4 million shares at $22, verus plans to offer 22.5 million shares at $16–$19, for a fully diluted vakue of $4.3 billion. It will list on the NYSE (FIGS) and reports $58 million of profit on $263 million in revenue for 2020. Shareholders include Viking Global, PSERS, Breyer Capital, Thermal and Reform Ventures. http://axios.link/PlNb
- ZipRecruiter, a Santa Monica, Calif.-based employment marketplace, went public via direct listing, valuing the business at $2.8 billion. Investors including IVP back the firm.
- Vimeo, a New York City-based video company spinning out of IAC, closed with a $7.2 billion valuation.
- TGI Fridays, a Dallas-based restaurant chain, plans to go public in London in the third quarter of the year. Electra Private Equity backs the firm.
- Stash, a New York City-based banking and investment services fintech, is reportedly mulling a public debut, potentially via a SPAC merger or IPO, Bloomberg reported.
- Warby Parker, the New York City-based eyewear brand, is reportedly in talks to hire Goldman Sachs to help it go public as early as this year, possibly via a direct listing, the New York Times’ DealBook reported.
. . .
SPACs:
- Acorns, an Irvine, Calif.-based savings and investing app, agreed to go public at an implied $2.2 billion valuation via Pioneer Merger Corp. (Nasdaq: PACX). Acorns raised over $330 million from firms like Greycroft, e.ventures, NBC Universal and Rakuten Ventures. www.acorns.com
- BigBear.ai, a Columbia, Md.-based provider of AI solutions to U.S. government clients, is in talks to go public via GigCapital4 (Nasdaq: GIG) at an implied valuation north of $1.5 billion, per Bloomberg. The company is owned by AE Industrial Partners. http://axios.link/26ue
- Smart Eye (Swiss: SEYE) acquired Affectiva, a Boston-based provider of emotion-detection software, for $73.5 million in cash and stock. Affectiva had raised over $70 million from firms like Aptiv, CAC Holdings, Trend Forward Capital, Motley Fool Ventures and Pegasus Tech Ventures.http://axios.link/7di1
Funds:
- Collab Capital, a VC firm focused on Black founders, raised $50 million for its debut fund. http://axios.link/Jztu
- Moxxie Ventures, the early stage VC firm founded by Katie Stanton, is raising $75 million for its second fund, per an SEC filing. It also promoted Alex Roetter to general partner. www.moxxie.vc
-OpenAI is launching a $100 million early stage VC fund. http://axios.link/uG6J
- Base10 Partners, a San Francisco-based venture firm, raised $250 million for a growth-stage fund that will donate half of its carried interest to historically Black colleges and universities (HBCUs).
Final Numbers
Source: Renaissance Capital. Data through market close May 21.
Final Numbers
Source: Katten’s 2021 SPAC Survey, which surveyed 80 investment professionals in March and another 100 in May.
A House Financial Services subcommittee yesterday held a hearing on SPACs, although it didn't actually include any SPAC market participants as witnesses.
The big takeaway, per Axios' Hope King, is that Congress seems poised to drain the safe harbor from SPACs, meaning that target companies would be under the same forward-looking liabilities as companies going public via IPOs or direct listings. Go deeper.