1. Deals Analysis
March 1, 2021

Technology industry cloud venture financing deals total $2.17bn in North America in January 2021

By Carmen

Total technology industry cloud venture financing deals worth $2.17bn were announced in North America in January 2021, led by $350m venture financing of Calendly, according to GlobalData’s deals database.

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The value marked an increase of 36.5% over the previous month of $1.59bn and a rise of 100.9% when compared with the last 12-month average of $1.08bn.

North America held a 50.12% share of the global technology industry cloud venture financing deal value that totalled $4.33bn in January 2021. With a 49.65% share and deals worth $2.15bn, the US was the top country in North America’s cloud venture financing deal value across technology industry.

In terms of cloud venture financing deal activity, North America recorded 65 deals during January 2021, marking a decrease of 12.16% over the previous month and a drop of 14.47% over the 12-month average. The US recorded 63 deals during the month.

North America technology industry cloud venture financing deals in January 2021: Top deals

The top five technology industry cloud venture financing deals accounted for 47.7% of the overall value during January 2021.

The combined value of the top five technology cloud venture financing deals stood at $1.03bn, against the overall value of $2.17bn recorded for the month.

The top five technology industry cloud venture financing deals of January 2021 tracked by GlobalData were:

1) ICONIQ Capital and OpenView Advisors’ $350m venture financing of Calendly

2) The $200m venture financing of Quantum Metric by Insight Partners

3) Innovation Endeavors, Insight Partners, Oryzn Capital, Salesforce Ventures, Sapphire Ventures and Vertex Ventures HC’s $167.5m venture financing of OwnBackup

4) The $160m venture financing of SCockroach Labs by Altimeter Capital Management, Benchmark Capital, Bond Capital Management, FirstMark Capital, Greenoaks Capital Management, GV Management Co, Index Ventures (US), Lone Pine Capital and Tiger Global Management

5) Addition Ventures, Andreessen Horowitz, Elad Gil, Greenoaks Capital Management, Lightspeed Management Company and Zeev Ventures’ venture financing of TripActions for $155m.

Verdict deals analysis methodology

This analysis considers only announced and completed 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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