2022 Momentum Year in Review

To our Clients and Friends:

In 2022 we experienced a challenging deal environment, but at the same time we saw strength and reason for optimism. We are grateful for the opportunity to have worked with inspirational founders, exciting companies, and their investors. We are committed to helping promising young companies get off the ground and established companies grow and expand. We will continue to have your back in 2023.

– The Momentum Team

Representative Company-Side Clients

Venture Financings, Other Private Placements, and Public Offerings

• 111 West Capital in Series B round for Arine
• Acalvio Technologies, an enterprise cybersecurity company, in a preferred stock financing
• Alation, a developer of machine learning-enabled data catalog and governance solutions for enterprise, in its US$123 million Series E financing, at a reported US$1.7 billion valuation
• Apex Space, a manufacturer of small, scalable satellite buses, in its US$7.75 million seed financing led by Andreessen Horowitz and including XYZ Venture Capital, J2 Ventures, Lux Capital, and Village Global
• Belite Bio in its US$36 million initial public offering
• Bitwave, a developer of an enterprise-focused digital asset finance platform, in its US$15 million Series A financing led by Hack VC and Blockchain Capital and including SignalFire, Valor Equity Partners, Arca, Pulsar Trading, and Alumni Ventures Blockchain Fund
• Bruviti, a provider of AI-powered predictive service applications, in its $5 million Series A financing
• Canaan Venture Partners in the US$28.5 million Series B financing of BoostUp.ai
• Covalent Metrology, a provider of an advanced materials science and analytical services platform, in its Series B financing
• Data Tribe Opportunities Fund in Series A round for Xona Systems 
• Domestika in its Series D preferred stock financing
• DoraHacks, a Web3-focused hacker community, in its US$20 million funding by, Liberty City Ventures, and others
• Earnipay, a provider of flexible salary access solutions, in its US$4 million seed financing by Canaan, XYZ Ventures, and others
• Epsilon3, a developer of an operating system for spacecraft, in its US$15 million Series A financing led by Lux Capital and including Moore Strategic Ventures, Y Combinator, and Mac Venture Capital
• Eridan, a builder of software-defined radios, in its US$46 million Series B financing
• GeCKo Materials, a developer of an energy-efficieny adhesive, in its SAFE financing
• Gladly, a customer service platform, in a $55 million financing by Riverwood Capital, Greylock, GGV, NEA, and Glynn Partners
• Goldman Sachs, J.P. Morgan, and Morgan Stanley as underwriters in the US$800 million follow-on offering of SolarEdge Technologies
• Halo Car, a provider of a teleoperated car-sharing service, in its US$5 million seed financing
• Heartex, an open source platform for data labeling, in its US$25 milion Series A financing led by Redpoint Ventures
• Hegemon Capital on its co-investment with Ceberus in Torngat Metals financing
• Impact America Fund in the Series A financing of Namecoach
• Menlo Microsystems, a developer of high-power RF MEMs switches, in its US$150 million Series C financing
• Montreux Growth Partners in the US$15 million growth financing of FinPay Holdings, a developer of a patient financial management platform for healthcare
• Montreux Growth Partners in the US$20 million growth equity financing of KEO World, a provider of buy now, pay later solutions for B2B
• mpathic, a developer of an AI-enabled API for analysis of enterprise text-based chat and phone conversations, in its seed financing led by Next Frontier Capital
• Norwest Venture Partners in the Series A financing of Amberflo.io
• Norwest Venture Partners in the Series A financing of Xembly
• Ordr, a connected device security company, in its US$40 million Series C financing led by Battery Ventures and Ten Eleven Ventures
• Owl Autonomous Imaging, a developer of 3D thermal ranging solutions for industrial and automotive mobility, in its US$15 million Series A financing led by State Farm Ventures
• Quokka, a mobile security and privacy company, in its growth funding by US Venture Partners and Crosslink Capital
• Roostify in its convertible debt financing
• RoRos Global Enterprises in its convertible note financing by NoMad Entertainment, LLC
• SK E&S in its US$25 million Series D financing of Monolith Materials, a developer of technology for producing turquoise hydrogen through methane pyrolysis
• SK Innovation in its US$30 million investment in Amogy, a provider of ammonia-based clean energy power solutions
• Spectro Cloud, a provider of enterprise Kubernetes management, in its US$40 million Series B financing led by Stripes and including Sierra Ventures, Boldstart Ventures, WestWave Capital, T-Mobile Ventures, and Alter Venture Partners
• Strong Ventures in the SAFE financing of Ami Labs, a development company for fintech apps
• Strong Ventures in the SAFE financing of Flying Cat, a B2B SEO company
• Strong Ventures in the SAFE financing of Poom, a developer of a mobile marketplace app for home bakeries
• Strong Ventures in the SAFE financing of Stipop, a provider of a sticker API and SDK solution
• Strong Ventures in the Series A financing of UI Flow, a developer of a drag-and-drop graphic programming tool
• Tachyus in its Series B-1 financing
• Tropos Technologies in its US$10 million Series B financing
• True Global Ventures in its investment in Chronicled, a developer of a blockchain-based ledger network for trading partners in the life sciences industry
• Waverley Capital in the Series A preferred stock financing of Antenna, a provider of analytics for subscription-based services
• Zanskar Geothermal, a developer of AI-based technology for identifying geothermal systems, in its Series A financing
• ZincSearch, a developer of a full text indexing search engine, in its seed financing led by Nexus Venture Partners111 West Capital in Series B round for Arine

M&A

• II‐VI in its acquisition of Coherent
• Animal Logic, an independent creative digital studio, in its acquisition by Netflix
• Analog Bits, a supplier of low-power mixed signal IP, in its acquisition by SEMIFIVE
• AutoGrid, an energy management software company, in its acquisition by Schneider Electric
• Broadcom in its pending agreement to acquire VMware for approximately US$61 billion, which will be the third-largest tech M&A deal of all time
• Cloudinary, a provider of a digital media platform, in its acquisition of Indiv.io (dba CustomRigs)
• Custom Power, a designer of custom battery solutions, in its acquisition by Solid State plc
• Dataprise, a portfolio company of Trinity Hunt Partners, in its acquisition of Reboot Networks, an IT and managed services provider
• FinDox, a provider of document, compliance, and data management services, in its acquisition by Reorg, a provider of financial and legal intelligence and data
• HID Global Corporation in its acquisition of Vizinex RFID, a developer of RFID tags for asset tracking
• HID Global Corporation in its acquisition of InvoTech Systems
• HID Global Corporation in its acquisition of Janam Technologies
• K2 Cyber Security, a provider of runtime application protection and vulnerability detection, in its acquisition by New Relic
• Lantronix, a provider of IT and IoT solutions, in its US$8 million acquisition of Uplogix, a provider of out-of-band management solutions
• Memomi, a developer of an AI-enabled, augmented reality mirror, in its acquisition by Walmart
• Proofpoint in its acquisition of Dathena
• Proofpoint in its acquisition of Israeli-founded cybersecurity company Illusive
• ReKTGlobal in its US$470 million acquisition by Infinite Reality
• Ripple Health Group in its acquisition by Calm, the world’s leading mental wellness brand
• Securitize, a digital assets securities firm, in its acquisition of Pacific Stock Transfer Company
• SK E&S in its acquisition of EverCharge, a provider of an electric vehicle charging solution for apartment complexes
• Commercial strategy and OTT distribution agreements enabling the launch of the new SkyShowtime premium streaming service, a joint venture among Comcast and Paramount Global 
• Strava in its acquisition of Recover Athletics
• SurePrep LLC, a provider of income tax automation software, in its US$500 million acquisition by Thomson Reuters
• TTM Technologies, a manufacturer of printed circuit boards, in its US$330 million acquisition of Telephonics Corporation and ISC Farmingdale Corp. from Griffon Corporation and Exphonics
• ZeroAvia, a producer of a zero-emission aviation powertrain, in its acquisition of the assets of HyPoint, developer of a turbo air-cooled fuel cell

Welcome

The Momentum team added 8 new partners in 2022, offering our technology clients additional support across an array of practices and depth to our technology transactions, data security, fintech, and entertainment capabilities.