Technology Intelligence: August 2025

Executive-level intelligence on the trends, people, and deals shaping the technology sector

News and Exec Appointments

• Since launching in May 2023, ChatGPT’s app for iOS and Android devices has reached $2bn in global consumer spending, according to a new analysis by app intelligence provider Appfigures.
• Thoma Bravo will acquire contact center software provider Verint Systems (VRNT.O), in a $2bn deal.
• Vibe coding startup Lovable aims to hit $1bn in annual recurring revenue within the next 12 months, according to its CEO, Anton Osika.
• Alaan, a UAE-based developer of an AI-powered spend management platform, has raised $48m in a Series A funding round. The round was led by Peak XV Partners (formerly Sequoia Capital India & SEA), with participation from 885 Capital, Y Combinator, 468 Capital, and Pioneer Fund.
• PE firm Advent International has announced the $1.3bn acquisition of Swiss car navigation hardware and software business U-Blox.
• Alpha Group, a FTSE 250 fintech specializing in the management of forex risk for corporates, has agreed to be acquired by American financial services group Corpay for £1.6bn.
• US-based customer experience software provider NiCE has agreed a $955m deal to acquire German AI startup Cognigy. Cognigy is backed by Insight Partners, DN Capital, Global Brain, and Nordic Makers.
• British IoT solutions provider Wireless Logic has acquired Zipit Wireless, a US-headquartered IoT connectivity and subscription billing solutions provider. This is Wireless Logic’s first acquisition of a US-headquartered company.
• Flight systems developer Destinus Group has agreed to acquire Daedalean, a Zurich-based AI solutions provider for the aviation industry, for $225m.
• Montagu has agreed to acquire IAI, a digital retail software provider for mid- to large-size e-commerce merchants in Poland and Central and Eastern Europe. The company was previously owned by MCI.
• GitHub CEO Thomas Dohmke announced that he is stepping down from his role.
• ClearBank has appointed David Samper as its new group CFO. Samper has served as CFO at Sainsbury’s Bank and Newcastle Building Society.
• Cybersecurity software company Check Point has appointed Jonathan Zanger as CTO. Zanger previously served as CTO at Trigo.
• Valentin Stalf, a co-founder of German neobank N26, is stepping down as CEO. The fintech company was valued at $9bn in 2021.

Fundraising

• ChatGPT-maker OpenAI has raised $8.3bn at a $300bn valuation.
• Xelix, a UK-based fintech providing AI-powered software that detects payment errors and fraud in ERP and finance systems, has raised $160m in Series B funding led by Insight Partners, with participation from Passion Capital and LocalGlove.
• Milan-based mobile app company Bending Spoons has secured over €500m in debt financing to accelerate acquisitions. Its current portfolio includes Evernote, Meetup and WeTransfer.
• EV charge point operator Electra has secured a €433m green loan. Green loans are used to fund projects that make a substantial contribution to the environment.
• German camper van rental provider Roadsurfer has raised €85m in funding. The funding includes €60m in asset-backed securities (ABS) financing from Macquarie Group and €25m in venture debt financing from BBVA, a Spanish financial services company. With the latest round, Roadsurfer’s total funding has reached €500m.
• Turkish investment app Midas has secured $80m Series B funding led by QED Investors. This marks the largest investment ever made in a Turkish fintech company.
• San Francisco-based GenAI API provider Fal.ai has raised $125m in its Series C round, led by Meritech. The company has previously raised $49m in February. The new funding makes Fal.ai a unicorn, valued at $1.5b.
• London-based solar power subscription provider Sunsave has secured £113m, including a £13m Series A equity round co-led by co-led by Norrsken VC and IPGL, and a £100m debt facility from Crédit Agricole CIB.
• Plancraft, a Hamburg-based SaaS provider for tradespeople, has raised a €38m Series B round led by Headline, with participation from Creandum, HTGF, and xdeck.
• Inforcer, a London-based startup providing software for managed service providers specializing in Microsoft enterprise products, has raised $35m in a Series B round. The software helps MSPs to standardise, roll out, back up and restore Microsoft 365 policies. The investment was led by Dawn Capital with participation from Meritech.
• Enterprise mental health software provider Unmind has raised $35m from TELUS Global Ventures. The company’s AI-powered platform provides employees with access to therapy, well-being tools, and AI coaching.
• Spanish cryptocurrency platform Bit2Me has raised €30m, led by Tether.
• London-based investment app Lightyear has secured a $23m Series B round led by NordicNinja, a Finnish VC that has backed major European tech businesses including Bolt, Voi and Starship Technologies. Lightyear also announced it has reached $1bn in customer assets.
• Phoebe, an AI startup providing software to investigate data, diagnose issues, and fix them automatically, has raised $17m in a round co-led by GV (formerly Google Ventures) and Cherry Ventures.

The Impact of AI on Engineering

We interviewed expert technology leader PG Niero on how AI is shaping software engineering:

“AI handles grunt work and first drafts; the craft – judgment, originality, brand alignment – remains human. The mindset shift is: AI is not here to erase your role; it is here to raise the level of the game.”

Read the full interview here

Hiring Trends

OutSystems has grown into a $9.5bn low-code leader, while Feedzai’s AI-powered fraud detection platform and Sword Health’s $3bn digital therapy business showcase the country’s depth in fintech and healthtech. Alongside previous unicorns like Farfetch, Talkdesk, and Unbabel, a new generation of startups such as Neuraspace and Rauva are attracting significant funding and proving Portugal’s ability to compete on the world stage.

About Neon River

Neon River is an executive search firm with deep experience supporting VC and PE-backed technology businesses around the world. We focus on senior hires across all key functions.