Tracking when private companies are nearing a sale, recap, or financing event has always been a guessing game. With thousands of sponsor-backed firms spread across sectors and geographies, most deal teams are forced to react after the market moves.
Investors, bankers, and service providers struggle to know which private companies are gearing up for a transaction or capital raise. Signals are scattered, opaque, and nearly impossible to track across thousands of PE- and VC-backed businesses.
Dakota centralizes those signals (holding periods, funding rounds, platform acquisition dates, ownership changes, and exit timing patterns) into one predictive transaction-readiness tool. Instead of waiting for headlines, users can see which companies are showing the strongest likelihood of pursuing a sale, recapitalization, or new financing before the market knows.
Below is today’s list of five PE- or VC-backed companies that, based on their hold period, financing stage, and last transaction date, appear to be credible candidates for a sale or next-round raise.
Nothing is guaranteed, but these companies fall squarely within the timing windows where sponsors typically look to generate liquidity or secure additional capital.
Sourced from Dakota Sponsor Backed Companies.
1. Upwell
Upwell is a technology company founded in 2017 that leverages artificial intelligence to automate and transform accounts receivable processes for transportation and logistics companies. By streamlining collections and enhancing cash flow, Upwell aims to improve the financial operations of its clients in the logistics sector.
- Sector: Industrials
- Industry: Air Freight & Logistics
- Last known transaction date: Seed, $6.5M, announced in February 2025
- Major sponsors/backers: Led by Vertical Venture Partners with participation from Plug And Play Tech Center, Black Dog Venture Partners, Never Lift, Automotive Ventures, NVP Capital, SaaS Venture Capital, Revolution Ventures, Invest Nebraska, and Motivate Venture Capital.
- Why timing suggests a near-term transaction: Upwell’s $6.5M seed round announced in February 2025 places the company approximately 12–18 months removed from its initial institutional financing by mid to late 2026. At this stage, venture-backed consumer and wellness platforms often begin preparing for a follow-on growth round, strategic partnerships, or early acquisition discussions, as brand traction, customer engagement, and commercialization efforts continue to develop.
2. Auto Hauler Exchange
Auto Hauler Exchange is a digital marketplace that connects vehicle shippers directly with carriers, eliminating intermediaries to enhance efficiency and transparency in vehicle logistics. By facilitating direct connections, the platform aims to streamline shipping processes, offer transparent pricing, and expedite deliveries.
- Sector: Industrials
- Industry: Automotive Logistics
- Last known transaction date: Series A, $5M announced in February 2025
- Major sponsors/backers: Led by MHS Capital with participation from Golden Ventures
- Why timing suggests a near-term transaction: Auto Hauler Exchange $5M Series A announced in February 2025 places the company roughly 12–18 months removed from its most recent financing by mid to late 2026. At this stage, venture-backed logistics and mobility platforms often begin evaluating follow-on growth capital, strategic partnerships, or acquisition interest, as product-market fit strengthens and early commercial traction becomes more clearly established.
3. ACT-ion Battery Technologies
ACT-ion Battery Technologies is a Dallas-based startup specializing in the production of cathode active materials (CAMs) for lithium-ion batteries. Utilizing a novel, continuous manufacturing process, the company aims to reduce production costs and enhance battery performance, thereby accelerating the adoption of clean energy solutions.
- Sector: Information Technology
- Industry: Semiconductors & Semiconductor Equipment
- Last known funding round: Seed, $7.5M, announced February 2025
- Major sponsors/backers: Led by BASF Venture Capital with participation from Hunt Energy Enterprises, Mirae Asset Global Investments (USA), Arosa Capital Management, and LG Technology Ventures.
- Why timing suggests a near-term transaction: Model ML’s $75M Series A announced in November 2025 places the company in the early phase following a large initial growth round. For venture-backed AI platforms raising at this scale, this period often coincides with increased visibility from strategic partners, follow-on investors, and potential acquirers, as capital is deployed to accelerate go-to-market execution and establish category leadership.
4. Oso Semiconductor
Oso Semiconductor is a developer of power-efficient chipsets for next-generation wireless communication and sensing applications, focusing on electrically steered (phased-array) antennas.
- Sector: Information Technology
- Industry: Semiconductors & Semiconductor Equipment
- Last known funding round: Seed, $5.2, announced February 2025
- Major sponsors/backers: Led by Engine Ventures with participation from Entrada Ventures, Berkeley SkyDeck Fund, and J‑Ventures
- Why timing suggests a near-term transaction: OpenEvidence’s $200M Series C announced in October 2025 places the company in the early phase following a large late-stage financing. At this point, venture-backed healthcare and AI platforms often see heightened activity around strategic partnerships, minority investments, or acquisition discussions, as scale, enterprise adoption, and long-term positioning continue to take shape.
5. Cycloid
Cycloid is a sustainable platform engineering company founded in 2015 by Benjamin Brial, a former Red Hat Cloud executive. Headquartered in Paris, France, Cycloid specializes in optimizing infrastructure and software delivery processes while promoting digital sobriety. The company offers a user-friendly self-service portal that integrates platform engineering practices to reduce the cognitive load on IT teams. Their platform enables the creation of reusable developer self-service flows that abstract complex DevOps processes, facilitating efficient cloud resource management and minimizing environmental impact. Cycloid's mission is to deliver change through the smarter, more efficient use of resources, establishing a culture of digital sobriety that encompasses both financial and environmental aspects. The company has achieved Certified B Corporation status, reflecting its commitment to responsible business practices, environmental stewardship, and social impact.
- Sector: Information Technology
- Industry: Software
- Last known funding round: Series A, $5M, announced February 2025
- Major sponsors/backers: Led by Reflexion Capital
- Why timing suggests a near-term transaction: PseudolithIC Inc.’s $6M seed round announced in January 2025 places the company approximately 12–18 months removed from its initial institutional financing by mid to late 2026. At this stage, venture-backed materials and advanced manufacturing companies often begin exploring follow-on capital, strategic partnerships, or early acquisition interest, as technical validation, pilot deployments, and early customer engagement continue to develop.
Use Dakota’s Sponsor Backed Company Intelligence to Spot Likely Exits Before the Market Does
Dakota’s private company data gives you a real-time view into thousands of sponsor-backed companies, including platform acquisition dates, funding rounds, parent sponsors, add-on activity, and sector categorization.
Instead of guessing where companies are in their lifecycle, you can instantly identify which ones are approaching the typical timing windows for a sale or recap.
Fully integrated into Dakota Marketplace, this dataset enables deal sourcers, investor relations teams, and allocators to anticipate transactions, build targeted outreach lists, and stay ahead of market announcements, every single day.
To explore more companies likely to transact, book a demo of Dakota Marketplace!
