Treehouse, Oribi and more - Top three deals in Digital Transformation in March

DT Deal Buzz - our new newsletter covers the hottest investment and M&A deals in technologies falling in the digital transformation spectrum - every month. This month, we focus on deals in the analytics space.

1. Decentralized finance (DeFi) analytics firm Treehouse raised $18 million in seed funding

Company's flagship product Harvest, indexes blockchains and deconstructs users' DeFi positions to present historical data, profit & loss (P&L), and risk metrics in an intuitive user interface. The round was led by an undisclosed large fintech investor with participation from Mirana Ventures, Lightspeed and others.

"As the number of DeFi protocols, supported L1s, L2s, and bridges increase over time, Treehouse's approach of building an in-house system-of-record for every DeFi user will become critically valuable and a great differentiator. On top of the technical accuracy is a beautiful, simplified dashboard experience optimized for desktop and mobile to cater to both advanced and retail investors." - Hemant Mohapatra, Lightspeed

2. Subscription analytics firm Antenna Data, raised $10 million in Series A

The subscription analytics firm Antenna Data, raised $10 million in Series A funding round. The platform tracks subscriptions and viewership data for major streaming services. The round was led by Bertelsmann’s venture arm, Bertelsmann Digital Media Investments. The company will use the new funding “in order to grow headcount, expand coverage."

3. LinkedIn to acquire Israeli marketing analytics company Oribi

LinkedIn entered into an agreement to acquire Israeli marketing analytics company Oribi. The details of the transaction were not disclosed but CTech by Calcalist reported that the deal was valued at $80 million. Oribi, founded in 2016, develops web tracking and analytics tools and works in the same area of marketing analytics as does Google Analytics.

“Oribi’s team brings deep analytics expertise that will help us accelerate our attribution capabilities", said Tomer Cohen, LinkedIn’s Chief Product Officer. The acquisition will also mark the opening LinkedIn’s new office in Tel Aviv, Israel. Oribi has raised close to $30 million with investors such as TLV Partners and Sequoia Capital.

MG's view:

“Digital transformation is the hottest area in technology today. Analytics and data are a key piece in the digital transformation journey. Past few years have seen massive M&A activity as large SaaS companies have been buying data and analytics companies – to make their portfolio ready for future. Next 2-3 years, we expect the trend to continue.” – Mohit Garg, Principal, Megwild Investments

About Megwild: Megwild offers deal sourcing, due diligence, and negotiation support to the investors. We also provide fund raise and globalization support to technology companies. We offer a success driven pricing model and work with a limited set of clients.