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Santa Barbara Investors Back Solvvy

socalTECH

The Investment Group of Santa Barbara (IGSB) is one of the backers this week in machine learning and artificial intelligence software developer Solvvy. Solvvy says it has raised $4.5M Solvvy says it has raised $4.5M Solvvy is based in Palo Alto. READ MORE>>.

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Procore Set For $592M IPO This Week

socalTECH

Goleta-based construction management software developer Procore is expected to have its IPO debut this week, planning to raise $592M at a $8.9 The company's software is used to manage construction projects, including plans, schedules, logistics, and many other aspects of that business. billion market cap.

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QAD In $2 Billion Private Equity Acquisition

socalTECH

Santa Barbara-based supply chain software developer QAD has entered into a $2 billion acquisition deal with private equity investor Thoma Bravo, the company said on Monday. The company said that current CEO Anton Chilton will continue to lead the company, whcih will continue to maintain its headquarters in Santa Barbara.

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Procore Now Worth More Than $11 Billion After IPO

socalTECH

Carpinteria-based Procore, the construction management software developer which went IPO this morning, is now worth more than $11 billion in market value, after pricing at $67.00 The IPO is the first in the technology sector in the Santa Barbara area since Sonos went IPO in 2018. above its debut, up 31.34%.

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Procore Prices IPO, Starts Trading Today

socalTECH

Carpinteria-based construction management software developer Procore Technologies priced its IPO last night, saying it will sell 9,470,000 shares of its common stock at a price of $67.00 The IPO is the first in the technology sector in the Santa Barbara area since Sonos went IPO in 2018. Piper Sandler & Co.,

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Yardi Wins Irish Rental Manager

socalTECH

Santa Barbara-based property management software developer Yardi reports that it has been selected by a company in Dublin, Ireland. According to Yardi, Urbeo Residential Limited has selected it as the end-to-end software provider for its 1500+ unit build to rent portfolio.

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LogicMonitor Names New CEO

socalTECH

Santa Barbara-based software developer LogicMonitor says it has named Christina Kosmowski as the company's new CEO, succeeding former CEO Kevin McGibben. McGibben is shifting to become Executive Chairman of the company. Kosmowski was most recently President of the firm.