GCA becomes part of Houlihan Lokey

Insights

Financial software had some of the largest financing deals in Q3 ‘21 led by the $1.1Bn financing of Chime, the $1.0B financing of FTX, and the $800MM financing of Revolut
In the US, the scale of the Biden administration’s announced public investment in the education system has secured ongoing headlines and continues to support investor appetite for the sector
Investment in the PropTech market continues to accelerate, and Q3 2021 saw continued strong momentum in growth capital investment and M&A activity in the category – 2021 remains on track to be a record year in the sector
The winning categories remain those consistent with the new normal of avoiding high “stranger volume”: private mobility, short term rental, camping, RV rental and outdoor activities
Significant M&A activity in Q2 includes acquisitions in the Financial Applications sector: Bill.com’s $2.5Bn acquisition of Divvy and Visa’s $2.1Bn acquisition of Tink
Investment into the PropTech market continues to accelerate, and 1H 2021 saw the most investment activity in the market since GCA began tracking the space in 2017
The momentum of change is unabated in every corner of the audio landscape as the industry continues its shift toward a digital re-platforming that will unlock tremendous value, driving the anticipated doubling of TAM from $27Bn to $52Bn in the next 10 years
The Q2 Marketplace & E-commerce report highlights the growing trend of marketplaces catering to luxury goods, both digitally native new market entrants and legacy luxury suppliers turning to technological solutions
The macro factors supporting EdTech are undeniable, as are the investment $ looking to be deployed in the sector
Increasing consumer awareness about the harmful effects of the livestock industry on carbon emissions and global warming, a shift toward ESG and a desire to eat healthier are key factors responsible for the growing popularity of the alternate meat industry
In Q1 2021, M&A deal activity and private financing activity continued to grow whilst software performance in the public markets stagnated
Advanced persistent threats are fueling rapid innovation and adoption of identity security and data protection solutions across different market verticals, which in turn have catalyzed some of the most significant M&A and funding activity in recent history.
With a general “return to life” underway as the vaccine roll-out continues we are seeing many behaviors that consumers learned over the past year have carried over due to preference and convenience rather than necessity
The activity across the audio sector in Q1 2021 continues to reinforce our view of the two powerful and fundamental investment themes in the category: we are at the start of a 10+ year investment cycle in music, broadly; and, the re-platforming of the industry to the digital tier that is well underway will introduce greater monetization opportunities on a truly global scale for creators, artists, fans, indie labels, majors, and investors
Q1 2021 was the most active quarter in growth capital and M&A activity in the Proptech market since GCA began tracking the space in 2017
2020 has proven to be a very active year in digital audio with tremendous value creation – DSPs up 42% and Publishers up 32% -- with an acceleration in M&A-led consolidation continuing into 2021
In Q4 2020, M&A deal activity and overall M&A deal value continued its aggressive growth, and private financing activity grew at an accelerating pace. Investors continue to show a strong desire for software business models amidst greater cloud adoption and remote work environments, evidenced by another quarter of favorable performances in public markets
The combination of public e-commerce and marketplace companies grew 68%+ throughout the year and saw a combined market cap  appreciation of $1.3 Trillion in value – stunning value creation
Verifying and authenticating digital identities while managing and preventing ever-increasing online fraud remains a top challenge for businesses. To meet these increasing needs, the identity solution landscape is evolving on both ends of the ecosystem in exciting ways.
Despite a decline from 2019’s record capital raising levels, investment into the U.S. PropTech market remains incredibly active with ~$7.3Bn of equity and debt raised across nearly 300 deals in the category in 2020
Since 2017, more than $29.7b has been invested into at least 980 F&B technology businesses, whereas 410+ have been acquired by ~290 buyers for an aggregate transaction value of $65.2b ($626.6m average transaction value)
Primary buyers in the Landscaping & Lawn Care service market include Property Managers, Colleges & Universities, and Home Builders
Aircraft assets employed in a commercial context (classed as Civil Aviation or Non-military) total ~380,000 globally, of which the overwhelming majority are smaller aircraft
Dependence on fossil fuels for electricity generation is adversely affecting the SDGs. A global shift towards renewable energy is being witnessed as a sustainable model for electricity generation
Reports from several analysts now estimate that the transition from offline to online shopping has been pulled forward anywhere from 2 to 5 years, in large part because of the impact COVID-19 has had on consumer habits worldwide
In Q3 2020, the software sector continued to show its resiliency. M&A deal activity and overall M&A deal value witnessed a sharp rebound, and private financing activity continued at a healthy pace.
Despite the challenging macro environment, InsurTech continues to be an active category, with ~$2.6Bn in financing volume and ~$10.5Bn in M&A volume during Q3 2020
The industry’s resilience to the global pandemic has been noteworthy, and clearly, even where there have been setbacks such as with live events, technology has stepped into the breach to facilitate real-time alternatives
The market for investment into and acquisition of PropTech businesses remains highly active with multiple mega M&A deals and public market listings in the quarter
Travel in 2020 has looked nothing like the picture anyone could have predicted at the end of 2019, but most analysts and commentators expect overall travel and tourism to start on a positive trajectory in 2021 and return to 2019 levels within a 3-4 year timeframe
Since 2017, more than $2.9b has been invested into at least 100 AM&R software businesses, whereas 200+ have been acquired by 150 buyers for an aggregate transaction value of $10.7b
GCA believes Insurance broadly remains resilient through the current environment and the industry's digital transformation has only accelerated as a result of COVID-19
Internet & Digital Media continues to be a highly active category both in public and private markets
Q2 ’20 saw ~$16Bn in financing deal value and ~$5Bn in M&A deal value
While COVID-19 positively impacted the growth of music streaming there were other significant events in the quarter that impacted the sector
India is revisiting its policies to make foreign investment and manufacturing seamless for international companies through focus on land acquisition, labor laws and infrastructure
While software indices experienced fluctuations due to nationwide shutdowns and stay-at-home orders, most select indices have returned to their pre-COVID levels, as the software industry is considered a structural winner given the need for greater digital capabilities across all industries
COVID-19 and the associated economic shut-down has broad implications for the Real Estate and PropTech markets
Streaming is mainstream – and whether a song, playlist or podcast, streaming audio represents one of the most exciting, dynamic and high-growth entertainment markets today
Despite the challenging macro environment, InsurTech continues to be an active category, with ~$1Bn in financing volume and ~$400MM in M&A volume during Q1 2020
The global software sector remains one of the most active investment sectors, with ~$14Bn in financing deal value and ~$28Bn in M&A deal value during Q1 2020
Equity and debt raised in U.S. PropTech was up 69% y/y in 2019 to $9.0Bn, reflecting continued momentum for growth companies in the PropTech sector
InsurTech continues to be a highly active category, with ~$2.0Bn in financing volume and ~$1.1Bn in M&A volume during Q4 2019
The global software sector remains one of the most active sectors, with ~$63Bn in financing deal value and ~$110Bn in M&A deal value during 2019
Internet & Digital Media continues to be a highly active category, with ~$24.3Bn in M&A volume and ~$12.7Bn in financing volume during Q4 ’19
The global software sector remains one of the most active sectors, with ~$17B in financing volume and ~$22B in M&A volume during Q3 ’19.
October was the second largest month of capital investment in the PropTech sector in 2019, with $1.1Bn in equity and debt raised in the month, bringing total YTD funding in PropTech to over $7.2Bn (debt + equity).
Internet & Digital Media continues to be a highly active category, with ~$34.5B in M&A volume (including the $20.9B Viacom-CBS merger) and ~$12.9B in financing volume during Q3 ’19
Real estate technology continues to be one of the most active areas of financing and M&A activity through Q3 of 2019.
President of GCA US and Head of Digital Media John F. Lambros discusses the martech and adtech environment.
With $1.3 Trillion in annual worldwide sales, LUXURY is one of the biggest and most diverse global market opportunities.
Q2 ‘19 saw a number of high profile software IPOs including Zoom Video Communications which soared over 150% from its offer price; M&A volume in the quarter was healthy, bolstered by Salesforce’s $15B acquisition of Tableau.
Significant commercial real estate tech investment and M&A led another active quarter for the real estate tech sector.
Our latest Digital Media Snapshot highlighting the changing TV landscape – how changes in content delivery, ad targeting and technology are impacting the market.
Following the record Q1 for M&A activity led by the First Data / Fiserv transaction, the payments sector remains active with announced acquisitions by First Data, Mastercard and Stripe announced in April.
Managing Director Joshua Wepman shares his insights on the changing dynamics of the TV advertising market.
GCA releases Q1 2019 Real Estate Tech sector report showing continued record investment into the category.
InsurTech continues to be a highly active category, with ~$1.5B in financing volume and ~$1.9B in M&A volume during Q1 ’19.
Financing volume in Q1 ‘19 is on pace to exceed financing volume in Q1 ’18; M&A volume in Q1 ’19 is set to exceed Q1 ’18 volume.
M&A volume in Q1 ‘19 nearly doubled Q1 ‘18 volume due in part to the large acquisitions of Ultimate Software ($10.8B) and Ellie Mae ($3.4B).
Chris Gough shares insights on the state of the residential real estate tech M&A and capital markets.
2019 is shaping up to be a blockbuster year for tech IPOs, with Slack, Pinterest, Uber and Airbnb among companies supposedly readying a listing this year.
Private equity and PE-backed companies accounted for all material business and tech-enabled services transactions in February.
Financing volume in Q1 '19 is on pace to exceed financing volume in Q1 '18. M&A volume in Q1 '19 is set to exceed Q1 '18 volume due to Fiserv’s $22B acquisition of FirstData.
The excitement around Addressable Video advertising continues to grow, with total spend in 2018 reaching $800M according to MAGNA.
Financing volume in Q1 '19 is on pace to exceed financing volume in Q1 '18. M&A volume in Q1 '19 is set to exceed Q1 '18 volume due to Fiserv’s $22B acquisition of FirstData.
The software sector saw a record number of $100M+ funding rounds and a massive increase in M&A volume.
Business & Tech-Enabled Services sector saw over $4.9 billion in volume across 445 transactions in January 2019
GCA’s Co-CEO and Head of M&A Geoffrey Baldwin shared his perspectives on 2019 M&A and IPO deal activity with Mergermarket.
InsurTech continues to be a highly active category, with ~$1.6B in financing volume and ~$600M in M&A volume during Q4 ’18.
Our 2018 Real Estate Technology Year in Review report highlights 2018 market activity and trends and includes predictions for the year ahead.
VC funding in US companies in 2018 reached nearly $100B, the highest year since 2000. The number of deals fell but 2018 saw more financing rounds of $100M or more.
Joshua Wepman sits down with AdWeek's Zach Rodgers to discuss the changes afoot in television
Business and Tech-Enabled Services
M&A
Technology
Sector Report
Artificial Intelligence
Sector Snapshot
Insurance Technology