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Climb's M&A Weekly: SmarTek21, Quantum Health, and DataSite all feature
SmarTek21 merges with IT Avalon and Quantum Health acquires Embold Health
Climb Advisors Weekly
June 08, 2025
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Welcome back to the Climb Advisors weekly newsletter with five deals from across the B2B tech landscape.
Climb Advisors focuses on sell-side advisory for B2B Software and services companies generating $5m-$15m in revenue. We also advise on credit solutions for companies of the same profile & in select cases engage in retained buy-side processes for quality buyers. We love to talk markets and make introductions - please don’t hesitate to reach out if you’re a founder or investor looking to transact.
SmarTek21 merges with IT Avalon
Overview: SmarTek21, backed by Tortuga Growth Partners, merges with IT Avalon, a tech consulting firm for industries such as financial services and healthcare. SmarTek21 is an AI-powered product engineering firm. The new company will have greater capabilities in the financial and healthcare sectors, while trying to penetrate the gaming and hospitality spaces. Read more here.
Climb Comment: Tortuga recently backed the merger between SmarTek21 and Retro Rabbit in February of this year. When Tortuga made the investment they were looking to drive inorganic growth and with SmarTek21’s second add-on acquisition in six months that plan seems to be working. IT Avalon brings digital transformation capabilities to SmarTek21 and increases its global presence.
Quantum Health acquires AI-powered healthcare solutions platform
Overview: Quantum Health, creator of healthcare navigation, acquires Embold Health, an AI-powered healthcare technology platform based in Nashville. Quantum Health is backed by Great Hill Partners and Warburg Pincus. This move is a part of Quantum Health’s AI strategy and enhances Quantum’s current offerings. Read more here.
Climb Comment: Both of these companies were long time partners and with the new investment from Quantum, Embold will accelerate its product development while continuing to operate as a standalone entity. Quantum plans to integrate Embold’s AI offerings into its Healthcare Warriors application, a human led program designed to guide clients to the best care.
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DataSite, backed by CapVest, acquires Grata
Overview: DataSite, a SaaS provider of AI-powered workflow automation solutions for M&A and investing, acquires Grata, an AI-native private markets intelligence platform. Capvest backs DataSite and intends to invest $500 million to expand DataSite’s intelligence solutions. Grata is an AI-native platform that combines private market workflows with dealmaking solutions. Read more here.
Climb Comment: Over the past two decades, private markets dealmaking has exploded. This has caused many companies to delay IPOs in favor of receiving funding through the private markets. As more PE funds come into the space, there is more capital to deploy and more competition on deals. The rise of Artificial Intelligence over the past few years has made dealmaking, specifically in the LMM, much easier with expansive databases of companies that would have been near impossible to find previously. Grata is at the forefront of this movement and looks to fit in perfectly with DataSite’s existing solutions.
BayPine invests in Harbor Global
Overview: BayPine, a private investment fund that seeks to drive digital transformation, invests in Harbor Global, a provider of technology and consulting solutions to the legal industry. Renovus Capital, Harbor’s original PE-backer, will maintain a significant stake in the company. Harbor partners with law firms looking to make improvements in their operations and technologies. Read more here.
Climb Comment: Legal firms are increasingly adopting technology and AI to automate workflows and streamline legal processes. With the investment from BayPine, Harbor is looking to accelerate its AI and tech enabled services solutions and capitalize on the new opportunity in the legal space. A couple of years ago, Renovus Capital made investments in three other legal consulting and technology firms and began integrating them with Harbor’s solutions. By doing so, Harbor now has end-to-end solution capabilities.
Accel-KKR makes majority investment in CareLineLive
Overview: Accel-KKR invests in CareLineLive, a home care management software company based in West Sussex. CareLineLive is a cloud-based platform for homecare that integrates scheduling, visits, records, and invoicing. CareLineLive spans across seven countries and supports hundred of care providers. Read more here.
Climb Comment: The home care market is a massive one, totaling ~$154 billion in the United States. Part of Accel-KKR’s investment will go to establishing a customer support presence in Australia, which also has a growing home care provider market. This deal also allows Oakglen and Haatch to make an exit as the two companies were early investors in CareLineLive.
Article of the week
The article this week is a long one but a very interesting one. It’s a fund letter that looks at multiple different commodities and believes we are in for a commodities bull run. It goes further than just looking at gold and oil and discusses many different metals in the letter.
Thanks for following along & hope you found something useful or interesting. Please don’t hesitate to reach out if you’re considering a sale this year - we’re always glad to chat & share perspective.
All the best,
Nick