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PE HUB Second Opinion

Second Opinion closes out the week with news that the FTC is reportedly considering a record-setting fine against the social network, drone company DJI loses $150 million to corruption and according to a bombshell Buzzfeed report, President Trump allegedly instructed his now ex-fixer Michael Cohen to lie about plans to build a Trump Tower in Moscow.

Shell Ventures backs AutoGrid

AutoGrid, a provider of flexibility management software for the energy industry, secured funding from Shell Ventures LLC. No financial terms were disclosed.

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Egis and ABS Capital takes majority stake in ClearObject

Egis Capital Partners and ABS Capital Partners have acquired a majority stake in ClearObject, an IoT systems integration provider for asset and data intensive industries. No financial terms were disclosed. In conjunction with the funding, E. Perot Bissell and Bill Polk, managing partners at Egis as well as Phil Clough and Ralph Terkowitz, general partners at ABS Capital, will join ClearObject’s board of directors.

ZipWhip inks $51.5 mln Series D

ZipWhip, a provider of texting for business, has raised $51.5 million in Series D funding. Goldman Sachs Private Capital investing group led the round with participation from other investors that included OpenView, M12 and Voyager Capital.

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Gryphon-backed Hepaco buys PetroChem

Succession Capital Partners has sold PetroChem Recovery Services Inc to Hepaco LLC, which is backed by Gryphon Investors. No financial terms were disclosed. Katten Muchin Rosenman LLP provided legal advice to Hepaco while Queen Saenz + Schutz PLLC represented PetroChem. Based in Norfolk, Virginia, PetroChem is an environmental services provider for transportation, industrial, and government clients.

GPB Capital expands team with new hire

GPB Capital Holdings LLC has named Brian Weisenberger as a managing director, communications. Previously, he worked at Ascendant Capital where he was executive director of product and due diligence.

Eyeware takes in $1.9 mln seed

Swiss deep tech startup Eyeware has raised $1.9 million in seed financing. The investors were High-Tech Gründerfonds, TRUMPF Venture GmbH, Swiss Startup Group and Zurich Kantonalbank.

HyperScience snags $30 mln Series B

HyperScience, an edge machine learning company offering enterprise-grade solutions for automating office work at scale, has secured $30 million in Series B funding. Stripes Group led the round with participation from other investors that included Flatiron Health, Sift Science, SPINS, Upwork, FirstMark Capital, Felicis Ventures, Battery Ventures, Global Founders Fund, TD Ameritrade and QBE.

Netflix
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PE HUB First Read

First Read begins the day with news that a judge orders a net neutrality lawsuit to go ahead despite the government shutdown, Netflix beats on subscriber growth but misses slightly on revenue and a disorienting interview with Jack Dorsey.

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Lightview invests in Educational Measures

Lightview Capital has made a “significant” investment in Denver-based Educational Measures LLC, a provider of live event technology focused on audience engagement and associated data and analytics. No financial terms were disclosed. Harbert Management Corporation and Resolute Capital Partners also participated in the transaction while Enterprise Bank & Trust provided a senior line of credit to Educational Measures.

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HaystackID buys eTERA Consulting

HaystackID has acquired eTERA Consulting, an eDiscovery managed services company. No financial terms were disclosed. The senior teams of both companies have reinvested in the combined business along with additional investment from Knox Capital, ORIX Mezzanine & Private Equity, Maranon Capital and Baird Principal Group.

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Netrounds collects Series A funding

Netrounds, a Swedish provider of software-based active testing, monitoring and automated troubleshooting solutions for communications service providers and global enterprises, has secured an undisclosed amount of Series A funding. The investors included Swisscom Ventures.

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PE-backed ABC Financial hires Garner as sales and marketing EVP

ABC Financial, a software and payment processing provider for health and fitness clubs, has named Kyle Garner as executive vice president of sales and marketing. Previously, Garner was vice president of Xerox’s US graphic communications organization. ABC Financial is a portfolio company of Thoma Bravo LLC.

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Allegiance Capital promotes three

Allegiance Capital, a Dallas, Texas-based private M&A investment bank, has promoted Shane Mahmood to president, Eric Kern to managing director and George Burrell to vice president. The appointments became effective January 15, 2019.