1. Deals Analysis
July 28, 2021

Technology industry cloud venture financing deals total $5.4bn in North America in June 2021

By Carmen

Total technology industry cloud venture financing deals worth $5.4bn were announced in North America in June 2021, led by $500m venture financing of Lucid Software, according to GlobalData’s deals database.

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The value marked an increase of 120.7% over the previous month of $2.46bn and a rise of 164.9% when compared with the last 12-month average of $2.05bn.

North America held a 68.56% share of the global technology industry cloud venture financing deal value that totalled $7.92bn in June 2021. With a 60.23% share and deals worth $4.77bn, 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 105 deals during June 2021, marking an increase of 26.51% over the previous month and a rise of 22.09% over the 12-month average. The US recorded 98 deals during the month.

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

The top five technology industry cloud venture financing deals accounted for 27.2% of the overall value during June 2021.

The combined value of the top five technology cloud venture financing deals stood at $1.48bn, against the overall value of $5.4bn recorded for the month.

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

1) Alkeon Capital, Steadfast Capital Ventures and Tiger Global Management’s $500m venture financing of Lucid Software

2) The $300m venture financing of Easy Education by BDC Capital, Blue Cloud Ventures, Fidelity Management & Research, Garage Capital, Harmonic Growth Partners, Index Ventures, Ontario Teachers Pension Plan Board and Teachers Innovation Platform

3) Coatue Management, Franklin Templeton Investment Funds, Salesforce Ventures, Sequoia Capital, Thrive Capital and Tiger Global Management’s $250m venture financing of Gong I.O

4) The $225m venture financing of SIllumio by Franklin Templeton Investments, Hamilton Lane, Owl Rock Capital and Thoma Bravo Advantage

5) Emergence Capital Partners and Goldman Sachs Asset Management’ venture financing of Project44 for $202m.

Verdict deals analysis methodology

This analysis considers only announced and completed cloud-deals 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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