Funding

Benu Announces $27.7 Million Strategic Funding

Benu Networks, the innovative provider of networking and software solutions for network operators deploying Wi-Fi and Cloud services, announces strategic investors Liberty Global Ventures and Arris Group participate in Benu’s funding round of $27.7 Million. In addition, Benu announces the hiring of industry tech veteran Dino Di Palma as Chief Executive Officer. Existing investors Spark Capital, Sutter Hill Ventures, and Comcast Ventures also participate.

“Benu’s innovative solution will allow operators to deliver services and manage policies on a user and device level irrespective of access type. This approach opens up a range of new business opportunities in terms of service innovation, delivery cost, and velocity” said Dan Hennessy, Chief Architecture Officer at Liberty Global.  READ MORE

Fiksu Secures $10 Million in Debt Funding

BOSTON – OCTOBER 21, 2014Fiksu (www.fiksu.com), a data-driven mobile ad tech company, today announced it secured $10 million in mezzanine debt funding from Silicon Valley Bank. The company plans to use the funding to continue to support further global expansion and ongoing development for the company’s award winning Programmatic Mobile Demand Platform. This financing comes on heels of the announcement that the company surpassed $100 million in annual revenue and hired Kenneth Goldman as CFO. 

Fiksu experienced exceptional growth this year, adding over 100 employees bringing the employee count to almost 300 and driving over 1 billion client downloads in nine months, accelerating the company's trajectory as the leader in mobile marketing. Fiksu counts leading brands such as Coca-Cola, Disney, The New York Times, Dunkin’ Donuts, Groupon and Topps among the customers it works with to optimize mobile ad targeting and enhance campaign performance. 

“This has been a banner year of domestic and international growth, marquee customer wins and unprecedented revenue milestones for Fiksu,” said Kenneth Goldman, CFO, Fiksu. “This financing enables us to continue to capitalize on the burgeoning market opportunities before us, and the partnership with Silicon Valley Bank—with its proven history of success working with high tech innovators—will certainly help us to reach our expansive growth goals.”  

In addition to offices in San Francisco and Northampton, Massachusetts—and overseas in London, Finland, Singapore, South Korea and Japan—the company is doubling its office space in its Boston headquarters and recently opened new U.S. offices in New York City, Chicago and Los Angeles. Fiksu expects to continue aggressively expanding its global workforce in the coming year. 

“It is our pleasure to work with Fiksu, and other innovative companies around the world that are leading their industries, as they reach new levels of success and pursue ambitious goals,” said Dan Allred, market manager, of Silicon Valley Bank in Boston. “Our aim is to help the Fisku team move its business forward quickly with the right financing, connections and global services it needs as the company expands globally and prepares for its next phase of growth.” 

Fiksu has previously raised two rounds of equity funding from Charles River Ventures and Qualcomm Ventures.

 

About Fiksu
Fiksu is the leading provider of mobile marketing products. A data-driven mobile ad tech company, the power of Fiksu is fueled by information assets from over 3.3 billion app installs and 4.7 trillion marketing events tracked across 1.7 billion devices. The company’s patent-pending Programmatic Mobile Demand Platform applies intelligent technology to proprietary big data to master ALL the challenges of mobile advertising – including tracking, optimization, media buying and integration. This cohesive approach spans the entire mobile ecosystem and ultimately delivers the best marketing performance. Additionally, Fiksu offers FreeMyApps®, the world’s largest app discovery platform where users are rewarded. Based in Boston, Mass., Fiksu is venture-backed by Qualcomm Ventures and Charles River Ventures. More at www.fiksu.com, @Fiksu, and on the Fiksu blog.


About Silicon Valley Bank

Banking the world's most innovative companies and exclusive wineries, SVB offers diverse financial services, knowledge, global networks, and world class service to increase our clients' probability of success. With more than $33 billion in assets and more than 1,700 employees, we provide commercial, international and private banking through our locations around the world. Forbes Magazine ranks us among America's Best Banks and Fortune named SVB one of the best places to work. (Nasdaq: SIVB) www.svb.com.

 

Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System.

 

###

Media Contacts:
Heather Bliss
(781) 966-4100
fiksu@inkhouse.com 

Jeremy Sacco
855-463-4578 x154
press@fiksu.com 

Carrie Merritt
Silicon Valley Bank
(503) 574-3705
cmerritt@svb.com

Cazena Raises $8 Million In Series A Funding

BIG DATA STARTUP CAZENA RAISES $8 MILLION IN SERIES A FUNDING LED BY ANDREESSEN HOROWITZ & NORTH BRIDGE VENTURE PARTNERS

Cazena today announced it has assembled a team of technology luminaries to take on the next challenge in big data. To execute its vision, Cazena has raised $8 million in Series A funding led by Andreessen Horowitz and North Bridge Venture Partners.

Cazena was founded by former leaders from Netezza where the team pioneered big data appliances. Netezza was acquired by IBM in 2010 for $1.7 billion. “We are thrilled to announce Cazena and our investors,” said Prat Moghe, founder and CEO of Cazena. Moghe was previously senior vice president at Netezza, where he launched the latest generation of its market-leading appliance and brings a wealth of experience in the space. “Today big data is too hard and too slow. It takes months to implement enterprise big data infrastructure, and millions of dollars of on-going annual investment of resources that do not scale with growing data.” READ MORE

Lose It! Raises Seed Round of Funding

Lose It!, a consumer web & mobile companies in the Boston area, has raised an initial round of seed capital led by General Catalyst.

Quantopian Raises $15M in Funding

Algorithmic investing platform, Quantopian announced today that it has secured $15 million in Series B financing from lead investor Bessemer Venture Partners (BVP), with returning top-tier investors, Khosla Ventures, Spark Capital, and Wicklow Capital also participating. With this round of funding, the company will develop the Quantopian Managers Program - a hedge fund that allocates capital to the top-performing quants in the community.

As part of the funding, BVP partner Rob Stavis will join the board of directors. “Quantopian is the premier developer platform for algorithmic trading across various security types and has an unparalleled community of top algorithmic and financial talent,” said partner, Rob Stavis. “We are excited to work with Quantopian to create a new category in asset management. For Bessemer, it’s an exciting business that exists at the intersection of two areas of investment interest: disruptive asset management and platforms for software developers...READ MORE

Nara Logics Raises $6m In Series A-2 Financing

Nara Logics, Inc., a Cambridge, MA-based artificial intelligence company focused on turning big data into smart data, raised $6m in Series A-2 financing round

The round was led by .406 Ventures with participation from existing investors including Peter de Roetth, president of Account Management LLC. In conjunction with the funding, Larry Begley from .406 Ventures will join Nara Logics’ Board of Directors while neuroscientist Mriganka Sur will join Nara’s advisory board. READ MORE

EverTrue Raises $8M Series B

EverTrue (www.evertrue.com), a social donor management platform, today announced $8Min Series B funding led by Bain Capital Ventures, with participation from Silicon Valley Bank. This latest round of funding brings the company's total financing to $14.5M. EverTrue plans to use the capital to support further investments in engineering, data science and customer success.

TechStars Boston alumnus and MassChallenge winner EverTrue works with more than 250 organizations, including leading higher education institutions and independent schools. Powered by social networks including LinkedIn and Facebook, the EverTrue platform provides real-time intelligence to support donor identification and prospect management... READ MORE

ecovent Closes $2.2 Million Seed Round

ecovent, who was part of Techstars Winter 2014, gives you room-by-room control over your heating and cooling through a wireless system of vents and sensors, closed a $2.2M Seed Round.... 

I am so excited to announce that we’ve closed our seed round of $2.2 million, from an incredible group of investors, but more on that later.

Back in 2013, when we started ecovent, we knew we would need to raise money.  We were naive to think that if we built an awesome system, we could convince investors, all on our own, to give us their hard earned cash to continue the pursuit of this incredible challenge. READ MORE

OpenView Venture Partners Raises $250M Fourth Fund

OpenView Venture Partners announced today that it has successfully completed the fundraising of OpenView Venture Partners IV, L.P., with commitments of $250 million. This new oversubscribed fund brings the firm’s total capital under management to nearly $700 million.

OpenView is committed to maintaining its focused strategy, investing in expansion-stage software companies. Since its founding in 2006, OpenView has partnered with 29 companies, including early investments in category-defining companies like Mashery, AtTask, Instructure, Monetate, Spredfast, Kareoand Socrata, among others.  READ MORE

Lose It! Raises $5M in Funding

As per the Boston Business Journal, Lose It! in Boston, MA has raised $5.5M in funding from General Catalyst and UnitedHealthcare's Innovation Group.  Lose It! is a mobile weight loss app.  READ MORE

PillPack Announces $8.75 Million Financing

Accel Partners joins Atlas Venture and Founder Collective to back a better pharmacy

PillPack, the pharmacy that simplifies medication management, has secured $8.75 million in additional capital funding to scale operations and grow their customer base. The round was led by Accel Partners, with participation from Atlas Venture.

“In the last two years, we have built and launched the first pharmacy dedicated to making customers’ lives easier,” said TJ Parker, PharmD, CEO. “With PillPack, the end-to-end process of managing medications is both simple and understandable. As a result, it’s easy for our customers to take their prescribed medications at the right time, every time.” READ MORE

OpenView Venture Partners Raises $250 Million Fourth Fund

OpenView Venture Partners announced today that it has successfully completed the fundraising of OpenView Venture Partners IV, L.P., with commitments of $250 million. This new oversubscribed fund brings the firm’s total capital under management to nearly $700 million.

OpenView is committed to maintaining its focused strategy, investing in expansion-stage software companies. Since its founding in 2006, OpenView has partnered with 29 companies, including early investments in category-defining companies like Mashery, AtTask, Instructure, Monetate, Spredfast, Kareoand Socrata, among others.

“What makes OpenView unique is our focus,” said Scott Maxwell, Founder and Senior Managing Director of OpenView. “No other venture firm has our dedicated stage and sector focus.” READ MORE



HealthEdge Raises $30M in Funding

HealthEdge, an innovative software company that provides the only integrated financial, administrative and clinical software platform for healthcare payors, Raises $30M in Funding. READ MORE


Shareaholic raises $2.3M

It has been an incredible couple of months for Shareaholic. We have been so busy growing the product that I find myself looking up at the clock, realizing 12 months have gone by in what seems like a minute!

Today I am thrilled to share that we have raised $2.3 million, with our friends at Kepha Partners, General Catalyst and NextView Ventures participating. The company has raised $7.8 million to date. READ MORE

Cohealo Raises $9M in Funding

Cohealo Inc., the leader in medical asset mobilization and analytics, today announced the company has completed a $9 million Series A financing led by Romulus Capital and Krillion Ventures.

Cohealo utilizes a cloud-based sharing platform to bring the benefits of the sharing economy most readily associated with consumer applications like Uber, Airbnb and Zipcar to managing and optimizing the utilization of medical equipment across hospitals and care facilities in health systems. The US spends more than $100 Billion a year on these assets; Cohealo enables the market to maximize the economic and clinical value out of each and every one of them.  READ MORE

Skillz Raises $6M in Financing

Skillz, a San Francisco, CA- and Boston, MA-based provider of a tournament platform where mobile gamers can use their skills to compete for cash and prizes, raised $6m in venture debt and equity financing.

The round was led by Atlas VentureREAD MORE

Superpedestrian Closes $4M Funding Round

Superpedestrian’s Copenhagen Wheel Receives Coveted Red Dot Design and Luminary Awards for Revolutionizing Urban Transportation 

Award comes on the heels of the company closing its $4M funding round from Spark Capital, General Catalyst and distinguished group of individual investors

SINGAPORE and CAMBRIDGE, Mass. (September 26, 2014): Superpedestrian, creators of the Copenhagen Wheel, was honored today when the design world came together to celebrate the laureates of the Red Dot: Design Concept Awards 2014. The Copenhagen Wheel emerged as an award winner from a record 4,791 entries hailing from 63 countries, receiving the “Best of the Best” in the category of mobility. Moreover, of three finalists, the Red Dot jury selected the Copenhagen Wheel as the winner of the Red Dot: Luminary – the highest Red Dot distinction given. 

The award comes on the heels of a new round of $4 million in funding from lead investor Spark Capital, General Catalyst and a distinguished group of individuals including Oscar-winning actor Jared Leto and former Akamai CEO Paul Sagan. The funding will fuel production of the Wheel and the expansion of Superpedestrian’s team of robotics engineers, manufacturing specialists, designers and software developers. 

“Superpedestrian is solving complex problems with remarkable simplicity,” said David Fialkow, managing director, General Catalyst. “The Copenhagen Wheel is an intricate electromechanical device that gives riders incredible amounts of pedaling power and insightful data. Yet, to use it, all you need to do is cycle as you normally would. Superpedestrian has introduced a powerful design that has the potential to transform the way we move around.” 

The Copenhagen Wheel is a self-contained unit that includes a motor, batteries, a powerful computer and a dozen sensors, packaged into a sleek red unit that’s meticulously designed. It powers the rider so that cycling great distances and climbing hills becomes effortless. The Wheel was initially developed at the Massachusetts Institute of Technology’s SENSEable City Lab, in partnership with the City of Copenhagen – one of the world’s most advanced cities for cycling. Superpedestrian has acquired an exclusive license to the technology from MIT and has been further developing the product to bring it to market. It is now manufacturing beta units of its commercial product in anticipation of official release of the Wheel. 

“Consumers today are looking for alternative means of transportation and it takes companies like Superpedestrian that combine a stellar team, creative design and world-class engineering to create unique solutions that are fun, personalized and efficient,” said Santo Politi, co-founder and general partner, Spark Capital. 

Superpedestrian exemplifies a broader technological transformation that is taking place today: digital devices are becoming an integral part of everyday objects and integrating with the built environment. This “embedded intelligence” in the objects that surround us opens the door to completely rethink how we address the problems faced by today’s cities. 

For information about the Copenhagen Wheel and about Superpedestrian, visit: http://www.superpedestrian.com or check out previous coverage on VentureFizz.

 

About Superpedestrian:

Superpedestrian Inc. is a venture-backed company operating out of Cambridge, Massachusetts. It develops lightweight networked vehicles that offer a competitive alternative to cars, and connect drivers, riders, and sensors with the built environment in new ways. Superpedestrian is commercializing the Copenhagen Wheel, the MIT Senseable City Lab's award winning bicycle project. The company is funded by tier 1 venture funds and private investors, and is built around a top team of robotics engineers and designers who work together to create new solutions for human mobility. 

About The Red Dot Design Award:

The Red Dot Award: Design Concept has been organized in Singapore every year since 2005. Up-and-coming new talents, designers and design companies from all over the world have the opportunity to enter their design visions in this competition and measure their own achievements in a global comparison. The world’s most innovative and creative design concepts are assessed by an international panel of experts. This competition sets standards for future trends and paves the way for designers to follow. Being the new geographic, economic and cultural center of the Asian market, Singapore is the ideal location for hosting a competition such as the Red Dot Award: Design Concept, which rates visions for design and innovative concepts. The top prize in this competition is the “Red Dot: Luminary,” which is only awarded to the absolute best of the concepts entered. Further information at: www.red-dot.de/press

 

Fluidnet (now Ivenix) Raises $25M in Funding

Fluidnet Corporation (www.fluidnet.net), an innovator of advanced intravenous (IV) infusion systems, announced today it has closed a $25 million Series C Financing. The round of financing was led by new investor Fidelity BioSciences, which was joined by new investor SCP Vitalife Partners and current investors Cardinal Partners, Easterly Capital and Rockport Venture Partners.

The proceeds from this round will support ongoing development and clinical evaluations as the company moves towards regulatory clearance and commercialization of its simple, highly portable yet fully-featured infusion pump. Fluidnet’s "load and go" external
intravenous infusion control system will help significantly reduce the time needed for IV therapy-related tasks, improve ease of use in home and clinical settings, and enhance safety. The device targets a $5 billion global market... READ MORE

Davison Receives Growth Equity Investment

F.W. Davison & Company (“Davison”), the leading provider of high-performance software solutions for the Professional Employer Organization (“PEO”) and Administrative Service Organization (“ASO”) industries, today announced that it has received a minority growth equity investment from Accel-KKR, a technology-focused private equity investment firm. The investment will be used by Davison to broaden its industry-leading cloud-based technology platform, HRPyramid, and expand its customer support and service operations.  

“Over the last 18 years, we have built Davison into a leading player in the PEO industry by delivering a functionally rich and technologically robust product in HRPyramid,” said Frederick Davison, Davison’s Founder and Chief Executive Officer. “Our team is excited to begin this partnership with Accel-KKR, a firm with a long track record of helping great businesses accelerate their growth. This partnership enhances our commitment to the industry by helping us invest further in our platform capabilities and services to our clients.” READ MORE

Centage Corporation Secures $9.5 million in Series A Funding

Centage ™ Corporation, a leading provider of budgeting and forecasting software (Budget Maestro™) for small and medium sized businesses, today announced it has secured $9.5 million in Series A funding from TVC Capital, a San Diego based growth equity firm focused on investments in, and acquisitions of, software and software-enabled service firms. Also participating in the round was Northgate Capital, a global private equity and venture capital investment firm. Effective immediately, Jeb Spencer of TVC Capital and Jared Stone of Northgate will also join the company’s board of directors.

With a strong user base of more than 600 companies across multiple vertical markets, Centage has grown at a rapid rate with minimal outside capital. The cash infusion will be used to expand the company’s product offering to include a cloud-based solution and bolster marketing efforts both domestically and internationally. Due to increasing financial management pressures, the demand for flexible solutions such as Budget Maestro remains high, thereby presenting an opportunity for the organization to capture a substantial portion of the growing global market.  READ MORE

 

Kinvey Secures $10.8M in Series B Financing

Kinvey (http://www.kinvey.com), the leading enterprise Backend as a Service (BaaS) platform, today announced $10.8M in Series B funding. Driven by new investors NTT DOCOMO Ventures and Verizon Ventures, and joined by existing investors Avalon Ventures and Atlas Venture, this financing brings Kinvey’s total amount raised to date to $17.8M. The new funds will be used to drive product development, accelerate enterprise IT sales, and expand channel partnerships with a focus on cloud and systems integrator partners.

"Mobile is driving the adoption of cloud in the enterprise, and both of these platforms are happening together simultaneously,” said Jeffrey Black, Director, Verizon Ventures. “These are two monumental platform shifts and Kinvey is well positioned to take advantage of these trends through its ability to provide a fully managed platform from front end app development, to connections to existing enterprise applications, delivered as a service via the cloud.” 
READ MORE

ezCater raises $2.16M in funding

As per PandoDaily, ezCater in Boston, MA has raised $2.16M in funding.  ezCater is a nationwide online food ordering service for businesses.  READ MORE

Startup Institute Closes $3 Million In Series A Financing

Startup Institute, an immersive career accelerator geared toward cultivating startup-savvy talent, today announced a partnership with Silicon Valley Bank and an investment by SVB* of $3 million in the company to support worldwide expansion of offices and programs. The partnership will help high-growth companies in the innovation sector find qualified candidates to scale their businesses. 

Startup Institute launched its first program in 2012 to help startups find employees who could help their companies grow. The founders, including Katie Rae, founder of Startup Institute and Chairman of Techstars Boston, observed startup candidates had the "hard" skills, but failed to contribute when hired by startups because they were disoriented and failed to understand how high growth innovative companies work.  The founding team thought this was a fixable problem and sought to create a talent pipeline for high-growth startups.  READ MORE

Veracode Closes $40M Funding

Veracode, a Burlington, MA-based provider of a protection service, closed a late-stage $40m funding round.

The round was led by Wellington Management Company with participation from existing investors.

The company intends to use the funds to accelerate investments in sales, marketing and R&D and to consider acquisition of complementary technologies and a potential IPO.  READ MORE

 

Wellframe Raises $8.5M

Today, Wellframe announced that the organization has closed on $8.5 million in financing, led by DFJ, with participation from Formation 8, Waterline Ventures and Queensbridge Venture Partners. 

Wellframe focuses on enabling healthcare stakeholders to amplify and extend caring relationships through the use of mobile technologies, utilizing artificial intelligence and machine learning to maximize patient engagement. READ MORE

Cignifi Inc. Completes Series B Funding Round

Cignifi, which is helping to meet the needs of more than 1 billion people worldwide who have mobile phones but no access to formal financial services, today announced the closing of a Series B funding round. The capital raise was led by existing investor Omidyar Network, a Redwood City, CA-based philanthropic investment firm, established by eBay founder Pierre Omidyar and his wife Pam, with additional investments from American Express Ventures and other existing investors. Cignifi is based in Cambridge, MA with offices in Sao Paulo, Mexico City and Accra, Ghana.

"We're very excited to have Omidyar Network continue with Cignifi as a strategic partner and to have American Express Ventures join us as an important contributor to our growth plans," said Jonathan Hakim, President and CEO of Cignifi. "This financing represents a major step forward for Cignifi and for our proven big data engine, which delivers credit and marketing scores for consumers using mobile phone behavior data.”  READ MORE

Bridj Raises $4M

As reported by TechCrunch Bridj, the world’s first smart transit system, Raises $4M, Hires Former Chicago & DC Transport Head Gabe Klein To Reinvent Your Commute.  READ MORE

Savant Systems®, LLC Received $90 Million Investment

Savant Systems®, LLC (“Savant”), the leading luxury smart home technology company, today announced that it has received a $90 million investment from affiliates of Kohlberg Kravis Roberts & Co. L.P. (KKR), a leading global investment firm and the founder of Savant, Robert Madonna. The funding will support Savant’s continued product innovation and company expansion.

“Savant is already an established market leader in home automation with clients including some of the most discerning public figures, entertainers and business leaders,” said William Lynch, CEO, Savant Systems.  “With this significant investment, we will bring our award-winning Savant Home experience to a broader audience of consumers worldwide.” READ MORE

Black Duck Software Raises $20 Million

 

Black Duck Software, the leading OSS Logistics solutions provider enabling the deployment and management of open source software (OSS), today announced that it has closed a $20 million investment round led by General Catalyst Venture Partners with all existing investors also participating in the round. The funding will be used to help the company expand its global go-to-market model to fulfill the rapidly growing OSS Logistics market opportunity. In addition, the company today announced the appointment of Stephen Gregorio as its Chief Financial Officer and Executive Vice President.

Gregorio, who played a critical role in securing the new funding, has over 25 years of financial management experience at high-growth technology companies including Verdasys, Interwise Corporation (acquired by AT&T) and Gensym Corporation, among others. Reporting directly to Black Duck President and CEO Lou Shipley, Gregorio will help Black Duck expand aggressively in the fast-growing OSS Logistics sector. READ MORE
 

Mobiquity Adds $5M to its $12M Series B Financing

Mobiquity, Inc., a mobile engagement provider creating innovative solutions that drive business value, announced an additional $5M in funding led by NewSpring Growth, the dedicated technology and business services growth equity fund of NewSpring Capital, along with all existing institutional investors. The new funding is an extension of the $12M Series B round Mobiquity secured in June 2013 (led by NewSpring, Longworth Venture Partners, Sigma Partners and Thomas Weisel Partners), bringing Mobiquity’s total financing to date to $24 million... READ MORE