Strava Inc. secured $3.5 million in a Series A investment from a group of investors led by Sigma Partners of Menlo Park, Calif. Strava makes Web and mobile apps for athletes. It plans to use the capital towards building its team and to expand its product and service offerings.
4 min read · 13 January 2011
Covertix received a strategic investment from Kima Ventures. Financial terms were not disclosed. Covertix is an Israel-based provider of Information Rights Management solutions for data protection and control. It plans to use the financing to enter the European market, strengthen its product offering and increase its sales and marketing efforts.
3 min read · 13 January 2011
Battery Ventures LP promoted Chelsea Stoner to principal. Stoner previously served as a vice president for the Waltham, Mass.-based investment firm. Stoner is based in Menlo Park, Calif., and focuses on growth equity and buyout investments in the software and digital media markets.
3 min read · 13 January 2011
Bullpen Capital formed a new venture capital fund. The vehicle will focus on second round financings. The Menlo Park, Calif.-based firm makes follow-on investments in capital-efficient technology companies that were initially funded by super-angel funds.
4 min read · 13 January 2011
Ondax Inc. closed its Series E funding round at $2.2 million. Existing investors Prospector Equity Capital and Arcturus Capital led the round. Ondax is a Monrovia, Calif.-based designer and maker of Volume Holographic Grating filters and wavelength stabilized, semiconductor lasers.
2 min read · 12 January 2011
SurveyMonkey.com of Palo Alto, Calif., acquired a 49.9 percent interest in Clicktools, a U.K.-based survey provider on salesforce.com's AppExchange. The companies plan to form a partnership that will offer cloud-based survey tools integrated with Salesforce CRM. SurveyMonkey is backed by Bain Capital and Spectrum Equity Investors.
3 min read · 12 January 2011
Viola Private Equity made a $7 million growth equity investment in Zend Technologies, which is a Cupertine, Calif.-based maker of develops Hypertext Preprocessor (or PHP) applications. Zend Technologies has received previous VC funding from investors including Greylock Partners, Index Ventures, Azure Capital Partners, Intel Capital and SAP Ventures . The financing round stands at $16.5 million. Viola is based in Herzeliya, Israel.
3 min read · 12 January 2011
NextWave Pharmaceuticals Inc. secured $45 million in a Series C financing, which was co-led by new investors Panorama Capital o Menlo Park, Calif., and Bay City Capital LLC of San Francisco, Calif. Kearny Venture Partners and current investors: Aisling Capital, Fidelity Biosciences, Sofinnova Ventures and Vivo Ventures participated in the round. NextWave plans to use the capital to commercialize its NEXICLON™ XR product for the treatment of hypertension, to expand the CNS portfolio and to prepare for introduction of a novel extended-release liquid methylphenidate for Attention Deficit Hyperactivity Disorder.
3 min read · 12 January 2011
4 min read · 11 January 2011
CipherOptics Inc. completed a $21 million financing in a round that was oversubscribed. Existing investor Adams Capital Management of Pennsylvania led the round, which attracted new investors: Blue Heron Capital, Intuitive Venture Partners, Next Stage Capital, Kestrel Asset Management and other individuals. CipherOptics also named Mike Kane and John Gerdelman to its board. Kane works for Kestrel Asset Management. CipherOptic, which provides scalable network encryption services, will use the capital to accelerate development of its technology and for expansion into new markets.
2 min read · 11 January 2011
