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May 20, 2026 - Deals
Mercury Raises $200M Series D Led By TCV At $5.2B Valuation With Major Investors
Mercury raised a $200M Series D at a $5.2B valuation, led by TCV with participation from Sequoia Capital, Andreessen Horowitz, Coatue Management, CRV, Sapphire Ventures, and Spark Capital. The company said it is profitable and has been for four years, with $650M in annualized revenue in Q3 last year, and noted accelerating demand as applications rose 2.5x in Q1 2026 versus Q1 2025. Mercury framed the raise as fueling expansion of its business banking platform and new AI-driven tools, including “Mercury Command,” which aims to let users execute end-to-end financial tasks through natural language instead of manual workflows. The company positioned the round as a bet on a wave of new business formation driven by AI, as it scales beyond traditional banking tools into an operating system for startups.
FOUNDERS: Immad Akhund, Max Tagher & Jason Zhang
INVESTORS: TCV, Sequoia Capital, Andreessen Horowitz, Coatue Management, CRV, Sapphire Ventures & Spark Capital
ROUND: Series D
AMOUNT: $200,000,000
VALUATION: $5,200,000,000
HQ: San Francisco, California
#VentureCapital #Mercury #ImmadAkhund #MaxTagher #JasonZhang #TradedVC
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Ferrero Acquires Purely Elizabeth For Estimated $850 MillionPurely Elizabeth started with homemade muffins and a $5,000 bet from founder Elizabeth Stein. More than a decade later, the better-for-you food brand has grown to 30,000+ stores and is being acquired by Ferrero for an estimated $850M+.
Stein built the company slowly, waiting years before raising outside capital and expanding from Whole Foods into Target and Walmart. Now, she’ll remain CEO as Purely Elizabeth enters its next chapter under Ferrero.
A founder-led food brand, built without rushing the process.
#VentureCapital #PurelyElizabeth #ElizabethStein #CPG #TradedVC
NVent Electric Acquires Maverick Power For $1.75 Billion To Enhance Power InfrastructurenVent Electric has agreed to acquire Maverick Power for $1.75 billion, with up to $550 million in additional performance-based consideration, as it expands its power infrastructure capabilities to meet rising AI data center demand. The McKinney, Texas-based manufacturer of engineered power distribution solutions, which is expected to generate about $700 million in revenue this year, will strengthen nVent’s offerings across switchgear, switchboards, and modular solutions; nVent CEO Beth Wozniak said the deal will enhance the company’s ability to serve data center customers.
SALE PRICE: $1,750,000,000
HQ: St. Louis Park, Minnesota
#VentureCapital #nVentElectric #MaverickPower #TradedVC