1. Deals Analysis
February 2, 2021

North America’s technology industry saw a drop of 12.87% in artificial intelligence deal activity during December 2020

By Carmen

North America’s technology industry saw a drop of 12.87% in artificial intelligence deal activity during December 2020, when compared with the last 12-month average, led by Dragoneer Investment Group, Drive Capital, General Catalyst Partners, Global Equities, GV Management Co, Sequoia Capital Operations, Silicon Valley Bank, Tiger Global Management and Transformation Capital Partners’ $225.5m acquisition of CrossChx, according to GlobalData’s deals database.

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A total of 88 technology industry artificial intelligence deals worth $1.67bn were announced for the region in December 2020, against the 12-month average of 101 deals.

Of all the deal types, venture financing saw most activity in December 2020 with 58 transactions, representing a 65.9% share for the region.

In second place was M&A with 23 deals, followed by private equity deals with seven transactions, respectively capturing a 26.1% and 8% share of the overall artificial intelligence deal activity for the month.

In terms of value of artificial intelligence deals, venture financing was the leading category in North America’s technology industry with $1.5bn, while M&A and private equity deals totalled $120m and $55m, respectively.

North America technology industry artificial intelligence deals in December 2020: Top deals

The top five technology artificial intelligence deals accounted for 47.3% of the overall value during December 2020.

The combined value of the top five technology artificial intelligence deals stood at $790.5m, against the overall value of $1.67bn recorded for the month.

The top five technology industry artificial intelligence deals of December 2020 tracked by GlobalData were:

1) Dragoneer Investment Group, Drive Capital, General Catalyst Partners, Global Equities, GV Management Co, Sequoia Capital Operations, Silicon Valley Bank, Tiger Global Management and Transformation Capital Partners’ $225.5m venture financing of CrossChx

2) The $160m venture financing deal with FiscalNote by 8090 Partners, Arrowroot Capital, Carlos Gutierrez, Daniel Nadler, Dorm Room Fund, Escondido Ventures, Firetrail Investments, Global Public Offering Fund, Green Visor Capital ManagementLLC, Jerry Yang, Jipyong & Jisung, Katharine Weymouth, Lakebridge Equity Partners, Mark Cuban, Nautilus Ventures, New Enterprise Associates, Pure Asset Management, Regal Funds Management, Rise of the Rest Seed Fund, Ron Gula, Runway Growth Capital, S&P Global Ventures, Tech Pioneers Fund, The Economist Group, Thorney Opportunities, Tom Monahan, Visionnaire Ventures, Voyager Capital and Winklevoss Capital Management

3) Tiger Global Management’s $155m venture financing of Scale AI

4) The $130m venture financing of LeanTaaS by Goldman Sachs Merchant Banking Division and Insight Partners

5) Vroom’s acquisition of Vast.com for $120m.

Verdict deals analysis methodology

This analysis considers only announced and completed artificial intelligence deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

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