The Crunchbase News Briefing: Mon., Oct. 19

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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Nextdoor reportedly eyeing public offering

Neighborhood-focused social network Nextdoor is reportedly pursuing plans to go public at a valuation of between $4 billion and $5 billion.

Founded in 2008, the San Francisco-based company has raised $455 million in known venture funding to date from a long list of prominent venture and growth investors, including Kleiner Perkins, Tiger Global, Benchmark, Bond and Riverwood Capital.

It’s uncertain what route the company is leaning toward taking to the public markets. Options include a traditional IPO, a direct listing, or a merger with a special purpose acquisition company.

M&A

Networking infrastructure company Juniper Networks said Monday that it plans to acquire Burlington, Massachusetts-based AI-driven networking technology startup 128 Technology for $450 million.

128 Technology, led by CEO and co-founder Andy Ory, has raised $96.7 million to date, per Crunchbase data, including most recently a $30 million Series D round in September 2019.

“The acquisition of 128 Technology will enable Juniper to accelerate in a key area where we are seeing enormous success – the AI-driven enterprise,” Juniper Networks CEO Rami Rahim said in a statement. “Both companies share a common vision of putting user experiences above all else and leveraging automation with proactive actions to simplify IT operations. With 128 Technology, we are adding a highly differentiated technology into our award-winning arsenal of campus and branch solutions driven by Mist AI to deliver even more customer value while further accelerating Juniper’s continued growth in the enterprise.”

The cash-and-stock deal is still subject to regulatory approvals and customary closing conditions.

Funding rounds

• Hyperscience raises $80M: Automation company Hyperscience announced an $80 million Series D financing round led by Tiger Global, with participation from new investor BOND, bringing the New York-based company’s total funding to $190 million. Bessemer Venture Partners and other existing investors participated in the round, which comes on the heels of a $60 million Series C round in June.
• FinLocker raises $19.8M: FinLocker, a St. Louis-based personal financial assistant tool that enables loans and financial transactions, announced $19.8 million in Series A financing led by Cultivation Capital.
• Solarea Bio inks $11.2M: Solarea Bio, a biotechnology company based in Cambridge, Massachusetts, said it raised $11.2 million in a Series A financing led by S2G Ventures and Bold Capital Partners, along with existing investor Viking Global and syndicate investor Gisev Family Office. Solarea is developing microbial-based treatments to aid human health.

IPOs

• Playtika files confidentially for IPO: Israel-based game developer Playtika announced it has confidentially filed for a U.S. initial public offering. The number of shares to be offered and the price range for the proposed offering have not yet been determined.

Other news

• EU investigates Instagram: Instagram is reportedly under investigation by Ireland’s Data Protection Commissioner over its handling of children’s personal data. The app’s owner, Facebook, could face a large fine if Instagram is found to have broken privacy laws.

Illustration: Dom Guzman