Pre-IPO Sector News Update

April 27, 2020

Last week, AvidXchange raised $128 million as an extension of its Series F funding round.

Confluent raised $250 million at a $4.5 billion valuation.

Magic Leap laid off half of its workforce and stated that it’s transitioning its mixed reality software to solely focus on enterprise solutions.

Paytm was in talks with Microsoft to raise $100 million.

SoFi acquired 8 Securities, a Hong Kong based robo-advisor and investment app, to expand its presence internationally.

AVIDXCHANGE

“Charlotte-Based Fintech Unicorn AvidXchange Raises $128M More For Accounts Payable Platform"

• https://news.crunchbase.com/news/charlotte-based-fintech-unicorn-avidxchange-raises-128m-more-for-accounts-payable-platform/

CONFLUENT

“Confluent Lands Another Big Round With $250M Series E on $4.5B Valuation"

• https://techcrunch.com/2020/04/21/confluent-lands-another-big-round-with-250m-series-e-on-4-2b-valuation/

MAGIC LEAP

“Magic Leap Reportedly Laying off 1,000 Employees and Dropping Consumer Business"

• https://www.theverge.com/2020/4/22/21231236/magic-leap-ar-headset-layoffs-coronavirus-enterprise-business-shift

PAYTM

“India’s Paytm in Talks with Tech Giant Microsoft to Raise $100m: Report"

• https://www.dealstreetasia.com/stories/paytm-microsoft-186182/

SOFI

“SoFi goes International with Acquisition of Hong Kong-based Investment App 8 Securities"

• https://techcrunch.com/2020/04/21/sofi-goes-international-with-acquisition-of-hong-kong-based-investment-app-8-securities/