Xora and Gearworks have agreed to merge, forming a single maker of location-based mobile business applications. No financial terms were disclosed, except that each company's existing VC investors has committed new equity. That includes Xora backer Dawntreader Ventures, and GearWorks backers BlueStream Ventures, Split Rock Partners and Rho Ventures.
3 min read · 13 August 2009
Brian McAndrews, former CEO of digital marketing company aQuantive (acquired by Microsoft for $6 billion), has joined Madrona Venture Group as a managing director.
3 min read · 13 August 2009
Pacific Biosciences, a Menlo Park, Calif.-based company focused on DNA gene sequencing, has raised $68 million in fifth-round funding. Monsanto, the Wellcome Trust and Sutter Hill Ventures came aboard as new investors. Past backers include Deerfield Management, Intel Capital, Morgan Stanley, Redmile Group, T. Rowe Price, Mohr Davidow Ventures, Kleiner Perkins Caufield and Byers, Alloy Ventures, Maverick Capital, AllianceBernstein, DAG Ventures, Teachers’ Private Capital and Blackstone Cleantech Venture Partners. Pacific Biosciences previously raised around $185 million.
2 min read · 13 August 2009
Sequoia Capital has agreed to buy $63 million worth of common stock in American Dairy Inc. (NYSE: ADY), a producer and distributor of infant formula, milk powder and related prodcts in China. The deal includes $47 million of cash and the conversion of a $16 million bridge loan provided last month.
3 min read · 13 August 2009
Shocking Technologies Inc., a San Jose, Calif.-based developer of voltage switchable dielectric materials, has raised $10 million in Series B funding. Vista Ventures led the round, and was joined by return backers ARCH Venture Partners, ATA Ventures and Balch Hill Partners. The company previously raised $7.1 million in equity and $4 million in venture debt.
3 min read · 13 August 2009
Constellation Pharmaceuticals Inc., a Cambridge, Mass.-based developer of drugs that target selective regulators of epigenetic function, has raised $17.2 million in Series B funding. Altitude Life Science Ventures was joined by return backers Third Rock Ventures, The Column Group and Venrock. The company had previously raised $32 million. Constellation Pharma also announced that it has hired Mark Goldsmith as its new CEO. Goldsmith is the former CEO of Cogentus Pharmaceuticals, and most recently was senior executive-in-residence with Prospect Venture Partners.
4 min read · 13 August 2009
Lizette Pérez-Deisboeck has joined Battery Ventures as general counsel. She previously was a Boston-based attorney with Goodwin Procter, in the firm's Technology Companies and Private Equity Practice Groups.
4 min read · 13 August 2009
Mint, a San Francisco-based provider of online personal money management solutions, has raised $14 million in Series C funding. DAG Ventures led the round, and was joined by return backers Benchmark Capital, Shasta Ventures, First Round Capital, Sherpalo Ventures, Felicis Ventures and Hite Capital. Mint has now raised $31 million in total VC funding.
3 min read · 13 August 2009
1 min read · 12 August 2009
Boxee Inc., a New York-based developer of a “social” media center, has raised $6 million in Series B funding. General Catalyst Partners led the round, and was joined by return backers Spark Capital and Union Square Ventures. The company previously raised $4 million.
2 min read · 12 August 2009
