Ctera Networks Ltd., an Israel-based bundler of network attached storage and cloud computing into a single appliance, has raised an undisclosed amount of first-round funding from Benchmark Capital.
3 min read · 06 January 2009
Blue Tulip Inc., a New York-based retailer of personalized gifts, has filed for Chapter 11 bankruptcy protection. It lists $7.3 million in debt, and plans to hold store liquidation sales at its 24 locations later this month. Blue Tulip had raised over $13 million in VC funding, and lists Highland Capital Partners as holding a 44% ownership stake (it invested out of HCP VI and Highland Consumer Fund). The company’s website is no longer working.
1 min read · 06 January 2009
Force10 Networks Inc., a San Jose, Calif.-based provider of network routing and switching equipment, has agreed to merge with Turin Networks Inc., a Petaluma, Calif.-based Ethernet services provider. No financial terms have been disclosed. Force10 has raised over $400 million in total VC funding since 1999, from firms like Advanced Equities, Crosslink Capital, New Enterprise Associates, Meritech Capital Partners, U.S. Venture Partners, Pacesetter Capital and Worldview Technology Partners. Turin Networks has raised over $250 million since 1999, from firms like Bay Partners, Sequoia Capital, Tellabs, Motorola Ventures, Ciena Corp., Millennium Private Equity, DCM, Baker Capital, Tudor Ventures, Advanced Equities and RWI Group.
4 min read · 06 January 2009
RipCode Inc., a Dallas-based provider of Internet and mobile video infrastructure solutions, has raised $12.5 million in third-round funding. Granite Ventures led the round, and was joined by return backers Hunt Ventures, El Dorado Ventures, Vesbridge Partners and ATA Ventures. The company has now raised around $38 million in total VC funding since 2006.
4 min read · 06 January 2009
GSR Ventures, a China-focused VC fund with offices in Beijing and Silicon Valley, has closed its third fund with $383 million in capital commitments. The firm also announced an investment in iLemon Group Inc., a Shanghai-based gaming company that creates 3D virtual worlds.
2 min read · 06 January 2009
Xobni Corp., a San Francisco-based provider of email analytics software, has raised $7 million in Series B funding. Cisco Systems was joined by return backers Khosla Ventures, First Round Capital, Baseline Ventures and Atomico.
2 min read · 05 January 2009
TraderTools, a New York–based provider of software and services for financial institutions trading foreign currency, has raised $7 million in VC funding from Edison Venture Fund. Company management also provided an additional $500,000.
3 min read · 05 January 2009
Edward Scolnick and Finny Kuruvilla have joined Clarus Ventures as a venture partner and principal, respectively. Scolnick is the former president of Merck Research Labs, and most recently was director of the Stanley Center for Psychiatric Research. Kuruvilla previously was with the Broad Institute of Harvard and MIT, where he led a collaborative effort with Affymetrix in medical genetics.
4 min read · 05 January 2009
Clarus Ventures has promoted Emmett Cunningham to partner and Scott Requadt to transactional partner. Cunningham joined Clarus in 2006, and serves on the board of SARcode. Requadt joined in 2005, and sits on the board of TyRx Pharma.
3 min read · 05 January 2009
General Catalyst Partners has promoted Neil Sequeira to managing director. He joined the firm in 2005, after having served as a managing director with Time Warner Investments.
2 min read · 05 January 2009
