1. Deals Analysis
April 27, 2022

Technology industry future of work venture financing deals total $1bn in North America in March 2022

By Verdict Staff

Total technology industry future of work venture financing deals worth $1bn were announced in North America in March 2022, led by $213m venture financing of Astronomer, according to GlobalData’s deals database.

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The value marked an increase of 208.7% over the previous month of $327.17m and a drop of 15.8% when compared with the last 12-month average of $1.2bn.

North America held a 61.59% share of the global technology industry future of work venture financing deal value that totalled $1.64bn in March 2022. With a 61.59% share and deals worth $1.01bn, the US was the top country in North America’s future of work venture financing deal value across technology industry.

In terms of future of work venture financing deal activity, North America recorded 28 deals during March 2022, marking an increase of 40.00% over the previous month and a rise of 7.69% over the 12-month average. The US recorded 28 deals during the month.

North America technology industry future of work venture financing deals in March 2022: Top deals

The top five technology industry future of work venture financing deals accounted for 57.7% of the overall value during March 2022.

The combined value of the top five technology future of work venture financing deals stood at $583m, against the overall value of $1bn recorded for the month.

The top five technology industry future of work venture financing deals of March 2022 tracked by GlobalData were:

1) Insight Partners,JPMorgan Chase,K5 Global,Meritech Capital Partners,Salesforce Ventures,Sierra Ventures,Sutter Hill Ventures and Venrock $213m venture financing deal with Astronomer

2) The $102m venture financing of Open Space Labs by Alkeon Capital Management,Alpaca VC,BlackRock,Fischer Homes,GreenPoint Partners,Harmonic Growth Partners,JLL Spark,Lux Capital,Menlo Ventures,Mirae Asset-Naver Asia Growth Fund,Navitas Capital,Nine Four Ventures,PSP Growth,Sino Group and Taronga Ventures

3) Anthemis Group,Nyca Partners,Permira Funds,PruVen Capital and Viola FinTech $100m venture financing deal with Cowbell Cyber

4) The $95m venture financing of Back Office by 500 Fintech,Active CapitalB.V.,Clear Haven Capital Management,David Bohnett,GTMFund,PeakSpan Capital and Scott Weller

5) Drive Capital,Founders Fund,Gokul Rajaram,Joe Lonsdale,Mark Cuban,Snowpoint Ventures,XN – US and XYZ Ventures $73m venture financing deal with Gecko Robotics

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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