2024 Momentum Year in Review

To our Clients and Friends,

You inspire us. Our 2024 Momentum Year in Review highlights some of your amazing achievements. It is our distinct privilege to support the efforts of entrepreneurs, operators, and investors with your commitment to innovation, disruption, and tackling pressing needs in areas across the technology spectrum. We are grateful for the trust you have placed in us, and we don’t take it for granted. Early indicators have us optimistic about an improved deal environment in 2025—we look forward to the opportunity to continue to be by your side as you press forward in the new year.

– The Momentum Team

Representative Company Clients

M&A Transactions

• Acalvio Technologies, provider of a distributed deception platform for early detection of cybersecurity threats, in its preferred stock financing
• AKUA, provider of a subscription IoT platform for monitoring and tracking intermodal cargo containers, in its convertible promissory notes financing
• Alkira Bio, developer of therapeutic antibodies targeting complex membrane proteins, in its US$8 million seed funding by Curie Bio
• Apex Space, a manufacturer of satellite buses, in its US$95 million Series B financing led by XYZ Venture Capital and CRV
• AstroForge, a miner of valuable minerals from asteroids, in its US$40 million Series A financing led by Nova Threshold, Initialized, Caladan, Y Combinator, and Uncorrelated Ventures
• AstroForge, a miner of valuable minerals from asteroids, in its US$10 million venture debt facility
• AtmoCooling, a provider of evaporative cooling systems, in its funding by Nucleus Capital and Revent Ventures
• AutoTech Ventures in the Series AA preferred stock financing of AmpUp, provider of commercial electric vehicle charging network solutions
• AutoTech Ventures in its SAFE financing of AUBA, an AI assistant focused on preventing supply chain disruption
• AutoTech Ventures in the US$12 million Series A financing of Gaussion, developer of a magneto-electrochemical solution for enhancing battery performance in electric vehicles
• AutoTech Ventures in the Series A-4 preferred stock financing of MooCo Robotics (dba Agtonomy), developer of autonomous and AI solutions for agriculture
• AutoTech Ventures in the seed financing of Rynse, a provider of fleet management software for government and enterprise
• Ballistic Ventures in the preferred stock financing of Mimic, a ransomware defense company
• Binarly, an AI-powered firmware supply chain security platform, in its Series B-3 preferred stock financing
• Breakthrough Energy Ventures in multiple investments in clean technology companies
• Capital K in its follow-on investment in Chasm, a manufacturer of carbon nanotechnology hybrid materials for printed circuits
• Capital K in its investment in Iaterion, a designer of novel therapeutics targeting women’s health conditions, including cancer and menopause
• Capital K in its investment in Pixeltra, developer of AI-enabled hardware and software hyperspectral technology for security, industrials inspection, food safety, and biomedical applications
• Dymium, developer of a layer for real-time and secure data collaboration, in its financing
• EDBI in the US$41 million Series D financing of Eko Health, a pioneer in applying artificial intelligence for early detection of heart and lung diseases
• Eridan Communications, a manufacturer of software-defined radios for 5G, in its Series B-2 preferred stock financing
• Ethos Ventures in the SAFE financing of Pascal Studio, a provider of enterprise supply chain solutions
• Ethos Ventures in the US$70 million Series A financing of TechCoop, a provider of cloud-based ERP solutions to farmers and agricultural providers
• Ethos Ventures in the SAFE financing of Zap Technologies, provider of a payment software solution and platform
• Evinced, developer of digital accessibility software, in its US$55 million Series C financing
• Gladly, provider of AI-powered customer service software, in its US$40 million funding by AVP
• GS Energy, an electricity and heat producer, in the US$18.5 million Series B financing of Ndustrial, developer of an AI-powered energy intensity platform
• HighLevel, a provider of sales and marketing automation software for marketing agencies and SMBs, in its minority growth investment from General Atlantic
• Hydrolix, provider of a streaming data lake platform, in its Series B financing led by S3 Ventures
• ID.me, provider of identity proofing, authentication, and group verification solutions, in its US$60 million third-party tender offer 
• Ignite Innovation in the SAFE financing and secondary investment in Aniai, developer of AI-enabled automated robotics for the food service industry
• Ignite Innovation in the Series B+ convertible notes and warrants financing of Subtle Medical, developer of AI-powered solutions for medical imaging
• JLL Spark in its investment in Arbnco, developer of dynamic building modeling solutions
• JLL Spark in the US$3.5 million financing of Ren Systems, developer of an AI-powered relationship intelligence solution
• Mitsui & Co. in the US$150 million Series B financing of Heirloom, a direct air capture company
• Mitsui & Co. in the Series C financing of ProofPilot, an end-to-end Clinical Experience Platform providing recruitment and engagement solutions for all stakeholders of clinical trials
• Mitsui & Co. in its US$50 million investment in the US$300 million funding of Quantinuum, a leading quantum computing company, alongside JPMorgan Chase, Honeywell, and Amgen
• Needle, an AI-powered marketing agency for e-commerce brands, in its SAFE financing
• New Legacy Group in the Series B-1 preferred stock financing of Anello Photonics, developer of optical gyroscopes and inertial navigation systems
• New Legacy Group in the Series S preferred stock financing of Invisible Technologies, developer of a generative AI-enabled process orchestration platform
• Norwest Venture Partners in the US$8.5 million seed financing of Heeler Security, an application security startup developing innovative solutions to help organizations protect their applications from evolving threats
• Norwest Venture Partners in the US$16.5 million Series A financing of Courier Health, provider a patient CRM solution for life sciences
• NTTVC in the US$41 million Series D financing of Eko Health, a pioneer in applying artificial intelligence for early detection of heart and lung diseases
• Owl Autonomous Imaging, developer of monocular 3D thermal imaging and ranging solutions for automotive active safety systems, in its Series A+ financing
• Preveta, developer of a data-driven cancer care coordination platform for healthcare providers, in its US$6 million venture debt facility
• Relocity, a provider of relocation software and tech-enabled services, in its growth funding by Crest Rock Partners
• Saama Capital Management in its investment in Ambient Security, provider of privileged identity management solutions across cloud, SaaS, and on-premise systems
• Saama Capital Management in its investment in FirstHive, a provider of customer data platform solutions
• Samsung Ventures in the Series B+ convertible notes and warrants investment in Subtle Medical, a developer of AI-powered solutions for medical imaging
• Semsee, provider of a cloud-based platform for independent insurance agents, in its debt financing
• Skorpios Technologies, provider of integrated communications products, in its secured promissory notes financing
• SPARE CS, developer of a mobile application converting retail locations into virtual automatic teller machines, in its seed financing
• Spectro Cloud, provider of multi-cluster Kubernetes management, in its US$75 million Series C financing led by Growth Equity at Goldman Sachs Alternatives and including existing investors
• Strong Ventures in the seed financing of Roboligent, a designer of human-assisting robots with industrial, healthcare, and other applications
• Strong Ventures in the SAFE financing of Theta One, developer of generative AI-enhanced SaaS tools for integrating conversational AI into classroom learning experiences
• Strong Ventures in the SAFE financing of Trillion Labs, a creator of AI foundation models for the Asia market
• Superfluid DX, developer of solutions for diagnosis of Alzheimer’s disease, in its Series A financing by WRQ Sciences
• unSkript, provider of an intelligent automation for SRE and DevOps, in its SAFE financing
• Yodayo, provider of an AI-enabled creative platform for anime fandom, in its series seed extension
• Zanskar Geothermal, a developer of technologies improving geothermal discovery and decarbonizing electricity generation, in its Series B financing led by Obvious Ventures and including Munich Re Ventures, Union Square Ventures, Lowercarbon Capital, Safar Partners, First Star Ventures, and Clearvision Ventures
• Zeev Ventures in the US$20 million Series D-2 preferred stock financing of HomeLight, developer of a platform for matching real estate buyers and sellers
• Zeev Ventures in the Series B-3 preferred stock financing of Themis-Tech (dba Flare), provider of a software platform modernizing delivery of legal services 

M&A Transactions

• Array Corporation, provider of a platform for high-performing, variable-cost labor, in its acquisition of Conde Group, a professional staffing firm specializing in IT, project management, and finance and accounting
• Array Corporation, provider of a platform for high-processing, variable-cost labor, in its acquisition of GoToro, a digital job advertising company
• Array Corporation, provider of a platform for high-processing, variable-cost labor, in its acquisition of Helping Hands Search
• Broadcom, a designer of semiconductor, enterprise software, and security solutions, in the US$4 billion sale of its end-user computing unit (rebranded to Omnissa), to KKR
• Cepton (NASDAQ: CPTN), a developer of lidar-based solutions for automotive, smart cities, and smart industrial applications, in its US$50.5 million acquisition by Koito Manufacturing, a manufacturer of advanced automotive lighting technology
• Encore Wire (NASDAQ: WIRE), a manufacturer of copper and aluminum electrical wire and cables, in its US$4.2 billion acquisition by Prysmian (BIT: PRY), a provider of cabling solutions for energy transition and digital transformation
• EyecareLive, developer of a digital eye health monitoring platform, in its acquisition by Visibly, a Johnson & Johnson portfolio company developing an online visual acuity test
• First Light Diagnostics, developer of automated products for rapid diagnosis of life-threatening antibiotic-resistant infections, in its acquisition by Sansure Biotech, a provider of molecular diagnostics and genetic testing technologies
• HID Global, a provider of trusted identity solutions, in its acquisition of 3millID, a manufacturer of access control credential and RFID reader technology
• HID Global, a provider of trusted identity solutions, in its acquisition of Third Millennium, a manufacturer of advanced access control readers
• HID Global, a provider of trusted identity solutions, in its acquisition of Vizzia Technologies, a provider of real-time location systems platforms for healthcare and hospital applications
• Invecas, provider of design engineering, embedded software, and system-level solutions, in its acquisition by Cadence Design Systems, a provider of electronic systems design technology
• Labor Futuri Temporis in its acquisition of Ruggiero Processing Facility, operator of a commercial solid waste collection, storage, and transfer facility
• Liberty Broadband Corporation (NASDAQ: LBRDA, LBRDK, LBRDP), owner and operator of communications businesses including a significant interest in Charter Communications and its subsidiary GCI, in its acquisition by Charter Communications (NASDAQ: CHTR)
• Lyra, a provider of instant solar plan set packages and permit packaging software, in its acquisition by Aurora Solar, a platform for solar sales and design
• Performance Designed Products, a provider of gaming accessories, in its acquisition by Turtle Beach
• PowerSchool, a provider of cloud-based software for K-12 education, in its acquisition of Allovue, a provider of K-12 financial planning, budgeting, and analytics software
• Snap One, a distributor of smart-living technology, in its US$1.4 billion acquisition by Resideo, a manufacturer of comfort, energy management, and safety and security products for the home (financial advisor representation)
• Tantti, developer of microporous chromatography beads to optimize purification of large molecule biologics, in its acquisition by Repligen, a leader in bioprocessing technology
• Udacity, a provider of online learning technology and services, in its acquisition by Accenture, a global professional services company
• Zanskar Geothermal, a developer of technologies improving geothermal discovery and decarbonizing electricity generation, in its acquisition of Lightning Dock HI-01, a geothermal plant in New Mexico, from Cyrq Energy 

Spotlight: Technology Transactions

We pride ourselves on being business partners to our clients. That means getting under the hood with you to understand your technology: what it is, how it works, and how it drives your business model. Enter our Technology Transactions team—tech-savvy commercial lawyers dedicated to the strategic creation, acquisition, use, protection, and monetization of critical tech and IP assets, and negotiation of highly complex technology alliances. Their strategic thinking, creativity, and practicality help clients shape emerging industries: in the last year, they forged Hyundais strategic autonomous driving partnership with Waymo, tackled the most tech-intensive aspects of Broadcom’s US$4 billion divestiture of its end-user computing business, and structured a novel tuition payments feature for an education services provider. From chips to cars, streaming media to small molecules, AI to AR/VR, our Technology Transactions lawyers help innovative Momentum clients push the limits of what is possible.

Welcome: New Momentum Team Members

In the last year, we’ve welcomed talent that expands the depth and breadth of support provided to important Momentum clients. For example, in New York, we welcomed back partner David Ni, who offers clients a wealth of experience handling IPOs and other capital markets transactions. Stephane Keen and Sylvia Taslim joined us in Singapore, expanding our ability to support M&A and investment transactions across Singapore, India, and Southeast Asia—particularly in the consumer, energy, healthcare, and technology sectors. In the Valley, we welcomed counsel Angela Kim, who strengthens our venture and growth capital and M&A capabilities. And counsel Sean Kwak joined our Century City office, bringing experience working in-house at one of the world’s largest web3 marketplaces to our growing Technology Transactions team.