March will be remembered as the month that tech-friendly Silicon Valley Bank failed, a stunning collapse that one local CEO said was “another dagger” for startups that had already been seeing funding options dwindle in recent months. Yet even in these trying times, some companies have shown that where there’s a will, there’s a way.
The month’s biggest fundraising deal, by far, was Tysons events software company Cvent Holding Corp. (NASDAQ: CVT) agreeing to sell itself to private equity giant Blackstone Inc. (NYSE: BX) for $4.6 billion in a transaction that would, once again, take Cvent private.
Another big winner in March was D.C.’s Placemakr, formerly WhyHotel, which raised $65 million and intends to use the proceeds to both acquire more apartments for short- and long-term rentals and upgrade and streamline its tech platform. The real estate tech firm has big plans for the future and is eying $500 million or more in real estate acquisitions over the next 16 months.
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