Another day, another $110 million. At least four Israeli companies announced significant fundraising activities Wednesday in what is becoming commonplace for the Start-Up Nation.
Israeli companies raised nearly $2 billion in May, and the pace of deal-making continues to rise every month.
In April, Israeli companies raised $2.7b., including more than $1b. announced in just one day.
Venn, a platform focused on neighborhoods, said Wednesday it closed a $60m. Series B round, bringing the company’s total funding to $100m. The round was led by Group 11, with significant participation from Pitango, Hamilton Lane, and Bridges Israel.
Venn’s mission is to create a sense of belonging for people in their homes and neighborhoods. In communities from Brooklyn to Tel Aviv, Kansas City, and Berlin, Venn’s platforms, physical and virtual spaces, and local programing combine into its Neighborhood as a Service offering.
The company said that people who participated in two or more of its local events were 90% more likely to remain in their neighborhoods and put down roots, resulting in better business for property managers and local businesses.
Venn will expand to five more cities in the US in 2021 as it continues to generate momentum and adoption, the Tel Aviv-based company said.
After experiencing 1,200% growth in 2020, Venn will direct this funding to support substantial investments in recruitment, new business, and US operations, the company said.
Comunix, a social gaming start-up, said it closed $30m. in Series A funding led by March Gaming to accelerate its vision of reinventing the social gaming experience. The company’s hit game, Pokerface, allows friends from all over the world to play Texas Hold ’em poker and connect via group video chat, and has over a million monthly active users worldwide.
Founded in 2018 and based in Tel Aviv, Comunix currently has 45 employees, it said.
DealHub.io, a sales platform provider based in Rishon Lezion, said it closed $20m. in Series B funding, in a round led by Israel Growth Partners, with participation from existing investor Cornerstone Venture Partners.
The company said its revenue amplification tool is the natural evolution of sales operations from a narrow view of individual buyer interactions toward a 360-degree view of buyers and buyer intent.
Also Wednesday, medical device company ENvizion Medical, which has developed FDA-approved technology for inserting a feeding tube (probe) into the body, said that it has completed a NIS 20m. IPO on the Tel Aviv Stock Exchange at a valuation of NIS 145m.
The offering, led by Leumi Partners Underwriters in collaboration with Menorah Mivtachim, will be used to increase the company’s customer base and grow its revenues, it said.
The funds will also be used to continue the process of obtaining FDA approval for the company’s preterm-based feeding tubes in preterm infants, to be used in procedures that take place millions of times a year around the world.