We are pleased to present the Q1 2021 Idaho Deal Flow Report. This is the first quarterly report of 2021, and it’s clear that Idaho continues to grow and prosper.   

With 37 deals and over $700 million of capital flow, 2021 is off to a strong start. Like Q4 of 2020, there were no Public Offerings in the first Quarter of 2021. However, there were 20 M&A deals and 15 private placements along with two employee stock ownership plans.   

M&A Deals  
Quarter one of 2021 was an exciting time for Idaho companies. Kount, an Artificial Intelligence fraud prevention and digital identity protection company founded in Idaho in 2007, was acquired by Equifax for $640 million. This is one of the largest publicly disclosed acquisitions in Idaho. This acquisition is also a testament of the quality of businesses founded and grown in Idaho. Equifax, the acquirer, is one of the three largest credit reporting agencies and is listed on the S&P 500.   

ECCO Safety Group (ESG), the world’s largest manufacturer of commercial and emergency vehicle warning and safety products based in Boise, was also acquired in the first quarter by Clarience Technologies. Clarience Technologies provides both products and services to enhance safety, fleet management, and supply chain efficiency. Though the deal price was undisclosed, the acquisition increases the capital and support behind another leading Idaho company.  

Idaho companies were not just getting acquired last quarter. Truckstop.com, a leading software solution for freight moving, acquired California-based Registry Monitoring Insurance Services. This strategic acquisition enhances Truckstop.com’s compliance-as-a-service (CaaS) and helps to maintain its position as an industry leader in innovation and safety.   

Private Placement Deals  
Idaho companies also experienced significant private placements in the first quarter of 2021 with over $60 million raised. Appdetex, a SaaS company that protects brands online, raised an additional round of funding of $12.2 million in January. In February, Fitted, which uses artificial intelligence to help retail businesses, raised $3.4 million less than a year after it secured $1.2 million in seed funding.   

Then in March, Tackle.io raised $35 million. Tackle, which closed its Series A round of $7.3 million in June of 2020, built off of a successful year and closed this significant Series B round led by Andreessen Horowitz and joined by existing investor Bessemer Venture Partners.   

This was followed up by a seed round of $1.4 million raised by Crave, a local restaurant delivery service and platform. Crave’s initial funding round of $7.3 million was led by local Venture firm StageDotO in December of last year and StageDotO continues to support the company as it looks to expand nationally.  

ESOP Deals 
The first quarter of 2021 also saw several Employee Stock Ownership Plans. In January, Tates Rents, founded by Idaho’s Tate family, transitioned to employee ownership the same year the company turns 75. This was followed closely by Commercial Tire which transitioned to employee ownership after 73 years of family ownership.  

We look forward to hearing from you—our collaborators—about other deals and additional details not yet included in this report. Keep your eye out for the 2020 Annual Deal Flow Report, going live on May 18th at the Capital Connect Conference!   

If you know of additional details, please don’t hesitate to email Lucas Henken at lucas@alturas.com.   

Thank you for all your support and enjoy our Q1 2021 Deal Flow Report!