Charge Ventures

Menlo is currently fundraising for its 16th flagship fund, which is targeting $500m and has secured commitments from the New Mexico State Investment Council and University of Alabama System.

Electric, a platform that provides an automated, intelligent IT support channel for small and medium-sized companies, has secured $2 million in seed funding. Bowery Capital led the round with participation from Primary Venture Partners, Charge Ventures, Gunderson Dettmer and Anchor Worldwide. In conjunction with the funding, Mike Brown Jr. of Bowery Capital, Brad Svrluga of Primary Venture Partners and Rudd Davis have been added to Electric's board of directors.

Virgil Security, Inc, a Virginia-based provider of cryptographic software for developers, has raised $4 million in Series A funding. KEC Ventures led the round with participation from other investors that included Bloomberg Beta, Blu Venture Investors, Charge Ventures, NextGen Venture Partners, Sparkland Capital and Working Lab Capital. Virgil Security is a graduate of the MACH37 Cyber Accelerator program.

New York-based DipJar, a provider of tip jars and donation boxes for credit cards, has raised $2.4 million in seed funding. The investors included Bolt, Project 11, Corazon Capital and Charge Ventures.