Funding News
Big news out of Atlanta-based PrizePicks, a company Hypepotamus has been tracking since its inception. PrizePicks announced it had reached a definitive agreement for Allwyn to acquire the majority stake in the company. Allwyn has agreed to purchase an approximately 62.3% stake in PrizePicks for an expected initial cash consideration of USD 1.6 billion, implying an upfront enterprise value of USD 2.5 billion. If PrizePicks achieves certain performance metrics over the next three years, additional cash consideration under the agreement could raise the implied enterprise value to a maximum of USD 4.15 billion, according to a press release.
OneDigital, an Atlanta-based insurance and financial services company, landed a $2.3 billion investment, taking its valuation to $7.2 billion. AJC has the latest.
Nashville-based Thyme Care, a cancer care company, raised a $97 million Series D. More details here.
North Carolina-based Beroe, a procurement intelligence company, raised a $34 million venture round, according to Crunchbase.
Amplio, a warehouse-focused startup based in Atlanta, raised a $11.1 million Series A, according to Crunchbase.
Miami-based Shield, a crypto startup which enables exporters and importers to conduct cross-border transactions, raised a $5 million seed round led by Giant Ventures, with Andreessen Horowitz, Factor Capital, Coinbase, and Bank of America also engaging. TechCrunch has more here.
Birmingham, Alabama-based crewOS, an all-in-one industrial field service management platform, secured $1.25 million in funding. The round was led by California-based Far Out Ventures. Hypepotamus readers might recognize crewOS from 2024’s Startup Showcase Live event around Venture Atlanta. More details on the recent funding round here.
Mississippi-based MagnoliaED, an EdTech startup, landed a $25k pre-seed round from CoBuilders, according to Crunchbase.
Zinnia, a AI-focused sales copilot startup with roots in Atlanta and Charlotte, landed an investment from North Carolina-based Primordial Ventures. More details here.
North Carolina Board of Science, Technology & Innovation announced its latest round of funding to small businesses developing and commercializing new technologies in North Carolina. In fiscal year 2024-2025, 90 small businesses in 21 counties received 102 awards.
Acquisition News
Birmingham-based Clutch!, a gameday parking management platform, was acquired by PMC. Details here.
Accelerator News
Durham County Government, in partnership with Forward Cities, announced the launch of its 2025 Innovate Durham Cohort. Accepted entrepreneurs will go through a 4-month program that transforms Durham into a living lab for innovation. Selected entrepreneurs and companies include:
- Cashem Holland, Financial BOSS (FinTech)
- Ed Holloway, Placeable (modular housing system)
- Nijil Persaud, Novexa (HealthTech)
Top Hypepotamus Stories
- After going independent from NCR Voyix, Candescent is ready to write its next FinTech chapter in Metro Atlanta. We got a tour of their office as it opened up in Sandy Springs.
- Emory students and a Georgia nonprofit have teamed up to build Seedmore, a chatbot designed specifically for parents seeking legal advice. More here.
- Birmingham-based Multiply AI gives sales team instant feedback on their pitches and cold calls…without taking up company time and resources. More here.
In Other News
AJC highlighted the latest news out of the Fearless Fund, an Atlanta-based VC that recently reached a settlement in its landmark racial discrimination lawsuit, as it held its first event in New York.
Atlanta Housing (AH) and Bird, the e-scooters and e-bikes company, announced a first-in-the-nation Ride-to-Work partnership that expands both affordable mobility and workforce opportunities for thousands of AH residents. More on the micro-mobility initiative here.
People To Know
At last week’s TiE Connect event in Sandy Springs, we caught up with the team at Kiksasa. The startup has built out an impressive dashboard and map that brings together all the startup and innovation places you need to know. Check it out here.
Atlanta-based Optomi Professional Services (OPS), a 100% U.S.-based IT solutions and staff augmentation provider, today announced that Tyler Snellings will be named President. Press release here.
Upcoming Deadlines
- Startup Runway Applications (Atlanta) – Sept 30
- Scott Gale Award (Gulf Coast region) – Oct 1
- The Siggie Awards nominations (Atlanta) – Oct 17
- Emory Entrepreneur Awards – Oct 31
- Chief AI and Data Officer Certificate Program – Dec 5
- Center for MedTech Excellence (Atlanta) – rolling