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McAfee files for IPO
Online security provider McAfee is the latest technology company to file for a U.S. IPO.
The company, carved out Intel four years ago following an earlier acquisition, is filing amid a busy period for public market debuts, with at least two multi-billion dollar direct offerings on tap for this week. The number of shares to be offered and the price range for the proposed offering have not yet been determined.
Its IPO filing shows a pattern of growth, with revenue jumping 9.4 percent to $2.64 billion in the year ended Dec. 2019, while net loss narrowed to $236 million from $512 million during the same period.
The private equity firm TPG had acquired a majority stake in McAfee from Intel in 2016 in a deal which valued the company at $4.2 billion, including debt.
Exotec lands $90M for industrial robots: Exotec, a French startup that develops industrial robots for use in warehouses, has raised $90 million in a Series C round led by 83North.Rally raises $17M for investment platform: Alternative investing platform Rally raised $17 million in an oversubscribed financing round that included existing investor Upfront Ventures, as well as new investors Porsche Ventures, Jim Pallotta’s Raptor Group, Global Brain, Relay Ventures and Alexis Ohanian. The company, which enables anyone to invest in rare and one-of-a-kind collectibles, has raised $27 million in equity capital to date.LARQ secures $10M Series A for hydration brand: LARQ, a health and wellness hydration brand, closed $10 million in Series A funding led by Seventure with participation from DCM, NBA champion athlete and Michigan-native, Draymond Green, Capricorn Investment Group, Heuristic Capital, Idea Farm Ventures and Augment Ventures. The company will use the new funding to expand internationally through 2021 and further develop as a 360-degree hydration brand.Cube Dev raises $6.2M seed for developer tools: Cube Dev, an open-source company that helps developers building internal business intelligence tools or adding customer-facing analytics to existing applications, raised $6.2 million in seed funding led by new investor Bain Capital Ventures. Returning investors Eniac Ventures, Betaworks, Innovation Endeavors and Slack Fund also participated in the round, as well as new investors Uncorrelated Ventures and Overtime.vc.SISU grabs $5.5M for U.S. expansion: SISU, an Irish startup focused on digital-first prevention and rejuvenation technologies, closed a $5.5 million Series A funding led by Greycroft and Bullpen Capital. Mana Ventures and the Gaingels Syndicate also participated in the round, alongside angel investors, including Liam Casey and Dan and Linda Kiely. The funds will be used to expand into the U.S. with its e-commerce aesthetics platform and 20 medical-retail clinics planned for the East Coast.DeepSurface inks $1M seed for cybersecurity: DeepSurface Security announced a $1 million seed round to launch its predictive vulnerability management suite of tools that enable cybersecurity teams to automate the process of analyzing and prioritizing vulnerabilities on enterprise networks. The round was led by Cascade Seed Fund and joined by SeaChange Fund and Voyager Capital.
Illustration: Dom Guzman
English (US)