Over the past two weeks, the Big-Tech 50 R&D Partnership has entered into agreements to purchase shares of three additional Israeli technology giants worth hundreds of millions of dollars, namely BlueVine, WhiteSource, and Voyager Labs. The partnership continues to compile its portfolio of 50 Israeli technology giants in order to create an index that will expose the success of private Israeli startups to the retail market.
Of the investments, the first was in BlueVine, which was founded eight years ago, and has raised around $800 million in capital and debt so far. Its latest round of capital raising, Series F, took place in November 2019 and stood at $103 million. BlueVine provides small and medium-sized businesses with quick and easy access to financial services. The company employs about 370 people. Big-Tech 50 acquired BlueVine shares for $1.5 million.
WhiteSource was founded ten years ago, and has raised around $121 million so far, with the last round of funding, a $75 million Series D, carried out in April. WhiteSource has developed technology that allows open source developers the ability to manage, document, license and track open source uses, along with providing real-time security by automatically and continuously scanning code repositories and cross-referencing data from various sources. The company employs about 250 people. Big-Tech 50 acquired WhiteSource shares for $1.5 million.
The partnership’s third investment was in Voyager Labs, which was established nine years ago and has raised $100 million so far as part of a Series A conducted in November 2016. Voyager Labs has developed a platform for artificial intelligence-based investigative solutions that enables intelligence and enforcement organizations to gain in-depth investigative insights, and analyze complex amounts of data from various sources with the goal of understanding content, human interactions, and relationships. The company employs about 100 people. Big-Tech 50 bought shares in Voyager Labs for around $813,000.
In addition, Big-Tech 50 announced that it has increased its investment in Sisense, a company that has developed business intelligence and data analysis software and employs about 800 people. Big-Tech 50 acquired additional Sisense shares for $1.04 million. In total, Big Tech 50 invested $1.54 million in the company. Its total investments in these companies stand around $4 million.
“The month of August has been a very productive and positive month for Big-Tech 50 and its
Investors,” noted Yochai Zeid-Ronen, who serves as Big-Tech 50’s CEO. “First, we invested in four large-scale leading Israeli tech companies, each with annual revenues in the tens of millions if not hundreds of millions, and with great potential for a future initial public offering (IPO). This brings our investments to a total of 14 companies, across multiple sectors and geographies. Additionally, during August we published our bi-annual financial reports that show a 32% increase in the valuation of our investments and a profit of $2.65 million dollars. These results represent our performance during the first five months since Big-Tech 50’s own IPO. Last but not least, we received during August the proceeds for those shares of ironSource and Payoneer which we sold as part of the respective companies’ IPO. The proceeds represent a return on investment of 330% and we are using the profit generated to buy back shares of Big-Tech 50, which should benefit our investors.”