1. Deals Analysis
March 29, 2021

Technology industry cloud venture financing deals total $4.24bn in North America in February 2021

By Carmen

Total technology industry cloud venture financing deals worth $4.24bn were announced in North America in February 2021, led by $1bn venture financing of Databricks, according to GlobalData’s deals database.

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The value marked an increase of 76.7% over the previous month of $2.4bn and a rise of 256.3% when compared with the last 12-month average of $1.19bn.

North America held a 75.18% share of the global technology industry cloud venture financing deal value that totalled $5.64bn in February 2021. With a 72.52% share and deals worth $4.09bn, 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 92 deals during February 2021, marking an increase of 15.00% over the previous month and a rise of 22.67% over the 12-month average. The US recorded 86 deals during the month.

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

The top five technology industry cloud venture financing deals accounted for 55.4% of the overall value during February 2021.

The combined value of the top five technology cloud venture financing deals stood at $2.35bn, against the overall value of $4.24bn recorded for the month.

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

1) Alkeon Capital, Amazon Web Services, Andreessen Horowitz, BlackRock, Canada Pension Plan Investment Board, CapitalG Management Co, Coatue Management, Discovery Capital Management, Dragoneer Investment Group, Fidelity Management & ResearchLLC, Founders Circle Capital, Franklin Resources, Geodesic, GIC, Green Bay Ventures, Greenoaks Capital Management, Microsoft, New Enterprise Associates, Octahedron Capital Management, Salesforce Ventures, T. Rowe Price Group, Tiger Global Management and Whale Rock Capital Management’s $1bn venture financing of Databricks

2) The $750m venture financing of UiPath by Alkeon Capital, Altimeter Capital Management, Coatue Management, Dragoneer Investment Group, IVP, Sequoia Capital VI and Tiger Global Management

3) Insight Partners’ $270m venture financing of Plume Design

4) The $200m venture financing of SHighspot by Bain &Inc, ICONIQ Growth, Madrona Venture Group, OpenView Advisors, Salesforce Ventures, Sapphire Ventures, Shasta Ventures Management and Tiger Global Management

5) Georgian Partners’ venture financing of Tophatmonocle for $130m.

Verdict deals analysis methodology

This analysis considers only announced and completed big data 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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