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The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents

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Deals of the day: HubSpot preps IPO

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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February 28, 2014, 4:10 PM ET
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Venture Capital Deals

ClearSlide, a San Francisco-based sales engagement platform, has raised $50 million in Series C funding. The Social+Capital Partnership led the round, and was joined by return backers Greylock Partners, Bessemer Venture Partners and Felicis Ventures. www.clearslide.com

Nok Nok Labs, a Palo Alto, Calif.-based provider of online authentication solutions, has raised $16.5 million in Series B funding. Lenovo Group led the round, and was joined by DCM and Onset Ventures.www.noknok.com

SkillShare
, an online community to learn real-world skills, has raised $6.1 million in new VC funding, according to a regulatory filing. No new investor information was disclosed. Existing shareholders include Spark Capital and Union Square Ventures. www.skillshare.com

Bowman Power, a UK-based waste heat recovery technology business, has raised £3 million in new VC funding. Return backers include Octopus Investments and Fjord Capital. www.bowmanpower.com

Smarterer
, a Boston-based online platform that scores users on digital, social and technical skills, has raised $1.6 million in VC funding from Rethink Education, Deborah Quazzo (GSV Advisors), Google Ventures and True Ventures. www.smarterer.com

XipLink
, a Toronto-based provider of wireless broadband optimization products, has raised C$1.5 million in VC funding from BEST Funds. www.xiplink.com

Tonic Health, a Palo Alto, Calif.–based patient engagement and medical data collection company, has raised an undisclosed amount of VC funding from Hearst Health Ventures. www.tonicforhealth.com

Private Equity Deals

CoAdvantage Corp., an Orlando, Fla.-based provider of HR outsourcing and benefit administration solution to SMEs, has made two acquisitions: Discovery Outsourcing LLC (Greenwood Village, Colo.) and Compensation Solutions (Wayne, N.J.). No financial terms were disclosed. CoAdvantage is a portfolio company of CIP Capital. www.coadvantage.com

General Electric Co. (NYSE: GE) has contacted private equity firms about a sale of its fuel dispenser unit, according to Reuters. Credit Suisse is managing the process, which could generate more than $500 million. www.ge.com

Permira has agreed to acquire the regional businesses of UK wealth management firm Tilney in Birmingham, Edinburgh, Glasgow and Liverpool. The seller is Deutsche Bank. Permira will merge Tilney with existing portfolio company Bestinvest to form a UK wealth manager with around £9 billion in assets under management. www.permira.com

The Riverside Company has acquired Optima SRL (a.k.a. Mec3), an Italian producer of ingredients for gelato and pastries. No financial terms were disclosed. www.riversidecompany.com

IPOs

HubSpot, a Cambridge, Mass.-based provider of an all-in-one marketing software platform for SMEs, has begun working with Morgan Stanley on an IPO that would occur later this year, according to the WSJ.  HubSpot has raised around $100 million in VC funding from Sequoia Capital, Google Ventures, SalesForce.com, General Catalyst Partners, Matrix Partners, Scale Venture Partners, Altimeter Capital and Cross Creek Capital.  www.hubspot.com

Lenta
, a Russian hypermarket and supermarket chain, raised $950 million in an IPO in London and Moscow. The company priced at the bottom of its range, for an initial market cap of around $4.3 billion. Shareholders include TPG Capital. www.lenta.com

Mantra Group, an Australian hotel operator, is planning to raise A$500 million in a public listing within the next two months, according to the WSJ. Shareholders include CVC Asia Pacific.www.mantragroup.com.au

Scynexis Inc.
, a Durham, N.C.-based developer of therapeutics for fungal infections, has filed for a $55 million IPO. It plans to trade on the Nasdaq under ticker symbol SCYX, with RBC Capital Markets and Canaacord Genuity serving as lead underwriters. The company reports a $23 million net loss on $16.8 million of revenue for 2013. Shareholders include Ventech Capital (18.29% pre-IPO stake), Merial Ltd. (6.29%), Alta Partners (18.09%), Burrill & Co. (9.56%), S.R. One Ltd. (9.35%). www.scynexis.com

Tarena International Inc.
, a provider of professional education services in China, has filed for a $100 million IPO. It plans to trade on the Nasdaq under ticker symbol TEDU, with Goldman Sachs (Asia) and Credit Suisse serving as lead underwriters. The company reports $14 million in net income on $93 million in revenue for 2013, compared to $9.5 million in net income on $57 million of revenue for 2012. Shareholders include Goldman Sachs (29%), IDG Ventures (23.6%), Jafco Asia Ventures (15%) and Connion Capital (6.9%). www.tarena.com.cn

Varonis Systems Inc.
, a New York-based provider of enterprise software for analyzing, managing and migrating unstructured data, raised $106 million in its IPO. The company priced 4.8 million shares at $22 per share (above original $17-$19 range), for an initial market cap of around $524 million. It plans to trade on the Nasdaq under ticker symbol VRNS, while Morgan Stanley, Barclays and Jefferies served as lead underwriters. Varonis reports a $7 million net loss on around $75 million in revenue for 2013, compared to a $5 million net loss on $53 million in revenue for 2012. Shareholders include Accel Partners (25.6% pre-IPO stake), Evergreen Venture Partners (23.1%) and Pitango Venture Capital (17.7%). www.varonis.com

OTHER M&A

R.R. Donnelley & Sons Co. (Nasdaq: RRD) has agreed to acquire MultiCorpora, a Canadian provider of translation technology services. No financial terms were disclosed. www.multicorpora.com

Transom Capital Group has sold Uncle Milton Industries Inc., a Westlake Village, Calif.–based maker of ant farms and other science toys for children, to KCB Management. No financial terms were disclosed. www.unclemilton.com
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