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Israeli Interior Design Startup IvyMark Acquired for Reported $30 Million

In other tech news, TLV Partners raises $150 million for a second venture fund as MDClone secures $15 million for synthetic medical records

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Lee Rotenberg and Alexandra Schinas founded IvyMark in 2014
Lee Rotenberg and Alexandra Schinas founded IvyMark in 2014 Credit: Tory Williams

IvyMark, a Tel Aviv startup that provides online business-management tools and a community for interior designers, is being acquired by the home-remodeling and design platform Houzz for a reported $30 million.

That will mean a huge return for IvyMark investors, who put in just $3 million in 2016. Lee Rotenberg, who founded IvyMark in 2014 with Alexandra Schinasi, called Houzz “a natural fit for IvyMark when it comes to innovation, culture, and user base.”

Based in Palo Alto, California, Houzz was founded a decade ago by the Israeli couple Alon Cohen and Adi Tatarko, and today its platform is used by more than 1.5 million active home-renovation and design professionals worldwide to showcase their work and reach new clients.

IvyMark counts about 2,400 designs firms among clients. Houzz has 1,800 employees worldwide, but only 40 in Israel. However, the company is renting space in the Azrieli Sarona complex and plans to boost its local staff to 100.

TLV Partners raises $150 million for a second venture fund

TLV Partners, a venture capital manager formed less than three years ago, has completed a $150 million fundraising for its second fund in just three months. The new fund, which will invest in about 20 startups, brings TLV’s total war chest to $265 million.

Founded by Rona Segev and Eitan Bek – two alumni of Pitango, Israel’s biggest VC fund – they were joined in December by the ex-Magma Venture Partners partner Shahar Tzafrir and launched the new fundraising round.

TLV’s first fund of $115 million has invested in nine startups with four more to go to reach its target and no exits to date. That’s a relatively slow pace of investing, but Tzafrir says that will change. “We’re in the advanced stage with three more investments. ... With three partners, we expect the pace to accelerate and the first fund to be fully invested by the end of the 2018 first quarter,” he said. (Ruti Levy)

MDClone secures $15 million for synthetic medical records

MDClone, an Israeli medical-information startup, said on Monday it had secured $15 million from the venture funds OrbiMed Israel Partners and Lightspeed Venture Partners. Both funds are second-time investors in the company.

The money will be used to expand globally and develop its platform, which creates synthetic medical records for fictitious patients to avoid the risk of public disclosure of actual medical data. That enables medical researchers to examine the behavior of the disease, doctors, drugs and healthcare providers without risking private patient medical data.

Based in Beer Sheva, MDClone was founded in 2016 by CEO Ziv Ofek – who founded dbMotion, which was acquired by Allscripts – Chief Technology Officer Luz Erez and Chief Financial Office Boaz Gur-Lavie. The company released its first product a year ago and counts most of Israel’s healthcare providers as customers.

Last month the company signed its first major deal in the U.S. with Washington University School of Medicine in St. Louis. (TheMarker Staff)



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