Atlanta Life Financial Group has canceled fundraising for the Atlanta Life Venture Fund, which was launched last year to target revenue-stage companies providing goods and services to Fortune 1000 companies. It had planned to focus on the Southeastern U.S., with a particular emphasis on the Atlanta area.
2 min read · 14 November 2008
Cfares, a Redwood City, Calif.-based online travel search engine, has $3.1 million in additional Series A funding, to close the round at $7.6 million. Backers include Claremont Creek Ventures and Garage Technology Ventures. The company also named former Leapfrog and Knowledge Universe CEO Tom Kalinske as its CEO.
2 min read · 14 November 2008
Intelect Medical Inc., a Cleveland-based developer of implantable neuromodulation systems for brain injury recovery, has raised a minimum of $11 million as part of a financing and licensing deal with existing shareholder Boston Scientific Corp., according to VentureWire. It could receive another $2.5 million in milestone payments, and previously raised $10 million from Boston Scientific and Greatbatch Inc. www.intelectmedical.com
1 min read · 14 November 2008
CodeRyte Inc., a Bethesda, Md.-based provider of computer-assisted coding and natural language processing, has raised $13 million in Series D funding led by return backer Versant Ventures. The company has now raised nearly $50 million in total VC funding. Other shareholders include Commons Capital, Cardinal Partners, New Vantage Group, Polaris Venture Partners, Solstice Capital, Washington Technology Partners and Gold Hill Capital.
3 min read · 14 November 2008
1 min read · 14 November 2008
Digitalsmiths, a Morrisville, N.C.-based provider of broadband video indexing, analytics and publishing solutions, has raised $12 million in Series B funding. 406 Ventures led the round, and was joined by return backers The Aurora Funds and Chrysalis Ventures. The company had recently raised around $9.7 million.
4 min read · 14 November 2008
1 min read · 14 November 2008
Metastorm Inc., a Baltimore-based provider of business process management software, has withdrawn registration for an $86.25 million IPO, due to "market conditions." It originally filed back in March with plans to trade on the Nasdaq. Jefferies & Co. and Oppenheimer & Co. were serving as co-lead underwriters. Metastorm has raised around $115 million in total VC funding, including a 2004 recap round. Backers include Internet Capital Group (32.2% pre-IPO stake), ABS Capital Partners (16.8%), 3i Group (12.8%) and Wall Street Technology Partners (9.1%). www.metastorm.com
1 min read · 14 November 2008
Accel Partners has raised $60 million for a new fund focused on seed and early-stage opportunities in India.
2 min read · 13 November 2008
Mirapoint, a Sunnyvale, Calif.-based provider of secure messaging solutions, has acquired Intradyn, a provider of email archiving appliances. No financial terms were disclosed. Mirapoint has raised over $82 million in VC funding since 1998, from firms likeWorldview Technology Partners, Franklin Templeton and Goldman Sachs.
3 min read · 13 November 2008
