ThoughtWorks, a software consultancy company, said on Thursday it raised $720 million from investors including GIC and Siemens AG at an enterprise value of $4.6 billion.
ThoughtWorks, which helps firms digitize their operations, said it would use the proceeds to buy back equity from its current investors to expand its international footprint.
Fidelity Management and Research LLC and Mubadala Investment Co also invested in ThoughtWorks, which counts Delta Air Lines Inc as one of its clients.
Goldman Sachs & Co LLC and J.P. Morgan Securities LLC were the placement agents to ThoughtWorks for the transaction.
Sequoia Capital recently bought shares of online automation firm Zapier from its founders on the secondary market, with the sale valuing Zapier at $4B+ — Zapier isn’t a household name in Silicon Valley, but the world’s top venture capitalists have long been trying to own a piece of the booming enterprise software firm.
Accolade, a health care service for employees to manage benefits, is buying telemedicine startup 2nd. M.D. for up to $460M, in split cash and stock deal.
The transaction will be half in cash and the rest in Accolade shares, a portion of which is contingent on revenue targets, and will close next month, said the people, who declined to be identified speaking about the deal.
The move is said to nearly double Accolade’s addressable market to about $46 billion by giving the company a provider of expert medical opinions from a U.S. doctor network, founded in 2011, 2nd. M.D. automates the process of getting second opinions, so they happen within days over video or telephone, rather than taking weeks to schedule as is more typical.
German transport tech startup KONUX raises $80 million from investors.
KONUX, a Munich-based SaaS startup that uses artificial intelligence to help run railway networks, said on Friday it had raised $80 million from investors and would hire 100 data scientists and software engineers to develop and expand its product portfolio.
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