B2B News for Friday, September 24, 2021: New Money for Flippa, Plannuh and MIraki, Procore Acquires Levelset, Xeriant and XTI Aircraft to Merge

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This week saw a lot of funding activity as B2B technology continues to accelerate to support work from home, hybrid workplaces and to meet the needs of industry niches.

Flippa, a company that helps entrepreneurs with succession plans or selling their businesses, has raised $11 million US to accelerate its growth and development. Since the company’s launch in 2009, Flippa has facilitated half a billion dollars in value through its support of entrepreneur exits and accelerated acquisition processes.

“It’s not often you get an opportunity to invest in the #1 marketplace in a massively growing area, so we jumped at the opportunity,” said Nigel Dews, Operating Partner at OneVentures. “We are thrilled to partner with the Flippa team, as they democratize the exit for millions of small business owners and entrepreneurs.” 

Press release: https://flippa.com/blog/press-release-flippa-raises-11m-series-a-capital/

Construction project management software company Procore will acquire Levelset, a lien rights management tool.

“Construction work is hard enough — getting paid shouldn’t be,” said Procore CEO Tooey Courtemanche. “Levelset helps the construction industry get paid faster, and their offering will be a perfect addition to the Procore platform.”

The acquisition also gives Procore access to industry data, including payments and compliance activity. In construction, the risks and complexity of moving money between stakeholders traps vast sums of critical working capital each year. 

Press release: https://www.procore.com/press/procore-to-acquire-levelset-to-simplify-lien-management-workflows-for-construction

Mirakl, a pioneering enterprise marketplace SaaS platform, announced that the company has raised $555 million in a Series E funding round led by Silver Lake, with participation from long-term investors. The company’s valuation has increased to more than $3.5 billion US as a result.

“The world has shifted irreversibly towards eCommerce, and the enterprise marketplace model has clearly emerged as the only solution that will enable businesses to survive in a competitive global sales environment,” said Adrien Nussenbaum, co-CEO and co-founder of Mirakl. “Mirakl has clearly proven that it offers the most advanced, flexible and scalable platform for businesses to win against competitors and profit from the growth afforded by the marketplace economy. This investment will enable us to pursue new growth opportunities as we work to bring our enterprise marketplace vision to new customers, regions, and industries.”

Press release: https://www.prnewswire.com/news-releases/mirakl-announces-555-million-series-e-funding-to-power-accelerated-growth-of-worlds-leading-enterprises-through-online-marketplaces-301381818.html?tc=eml_cleartime

Plannuh, a SaaS company automating core marketing leadership processes, has closed a $4.1 million US equity round led by Ripple Ventures. Google’s AI-focused venture fund participated in the round.

“We have seen a huge wave of interest in our platform from leading marketers who value our agile approach to planning and executing their marketing agenda as a strategic advantage,” said Peter Mahoney, founder and CEO of Plannuh. “The investment from Ripple Ventures, and our long-time investors Glasswing and Gradient will allow us to further accelerate customer acquisition and continue to enhance our product platform, with particular focus on additional integrations and automation.”

Press release: https://www.prnewswire.com/news-releases/growing-6x-year-over-year-plannuh-closes-a-4-million-round-to-expand-ai-driven-marketing-leadership-automation-platform-301381199.html

Aerospace company Xeriant and XTI Aircraft Company, developer of the TriFan 600, a leading next-generation hybrid-electric VTOL aircraft, have executed a Letter of Intent to merge. Xeriant would acquire 100% of the issued and outstanding shares of XTI. A definitive merger agreement is expected to be reached by October 22, 2021.

Xeriant is dedicated to the emerging aviation market Advanced Air Mobility (AAM). It supports the transition to eco-friendly, on-demand flight. It is partnering with and acquiring strategic interests in companies that accelerate this mission.

Press release: https://www.globenewswire.com/news-release/2021/09/22/2301292/0/en/Xeriant-and-XTI-Aircraft-sign-LOI-to-pursue-Merger.html

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Kate Baggott

Kate Baggott is a former Managing Editor of B2BNN. Her technology and business journalism has appeared in the Technology Review, the Globe and Mail, Canada Computes, the Vancouver Sun and the Bay Street Bull. She is the author of the short story collections Love from Planet Wine Cooler and Dry Stories. Find links to recent articles by following her on LinkedIn https://www.linkedin.com/in/kate-baggott-9a0306/