Mohr Davidow Ventures related stories
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Venture-backed BuildDirect obtains creditor protectionBuildDirect, a Vancouver-based online marketplace for home improvement products, was this week granted creditor protection as it seeks to recapitalize or arrange a sales transaction, according to a report by the Canadian Press. Venture-backed BuildDirect has negotiated a US$15 million loan from investors to continue operations while it works on its financial restructuring, the report said. Vice President of Finance John Sotham was quoted as saying the company has generated significant revenue but has not been profitable. BuildDirect was founded in 1999 by President and CEO Jeff Booth and Executive Officer Robert Banks. Sotham reported the resignation of Booth last week.
Kabbage looks to raise money for acquisitions: ReutersSmall U.S. business online lender Kabbage Inc is in talks to raise a new round of equity funding that could be used for potential acquisitions at a time when many of its peers face funding challenges, Reuters reported.
- Align Technology taps GE Ventures CEO for board
Align Technology Inc, a maker of dental treatment options for adults and teens, has named Susan E. Siegel to its board of directors. Siegel is CEO of GE Ventures. Previously, she worked at Mohr Davidow Ventures where she served as a general partner.
AcuityAds to acquire venture-backed Visible MeasuresAcuityAds Holdings Inc (TSX-V: AT) has agreed to acquire Visible Measures Corp, a Boston-based programmatic platform provider for analytics-led video advertising. The acquisition is an all-cash transaction valued at US$10 million. Silicon Valley Bank agreed to finance it with a revolving line of credit. AcuityAds, a Toronto provider of digital media solutions enabling advertisers to connect with audiences, said the buy will help it gain a more substantial footprint in the video advertising and programmatic TV markets. Visible Measures is backed by DAG Ventures, General Catalyst, Mohr Davidow Ventures and Northgate Capital, among others.
Georgian Partners leads WorkFusion's $35 mln Series D roundNew York-based WorkFusion, an intelligent automation specialist, has closed a US$35 million Series D financing. The round was led by Canadian growth equity firm Georgian Partners. It was joined by the company's existing investors, including Canada's iNovia Capital, as well as Mohr Davidow Ventures, NGP, Greycroft and RTP Ventures. Georgian Managing Partner Justin LaFayette said the firm invested in WorkFusion because "it aligns with our thesis that artificial intelligence will transform business, but most importantly because the company has made machine learning practical and powerful for enterprise operations."
- WorkFusion rakes in $35 mln Series D
WorkFusion, an intelligent automation provider, has secured $35 million in Series D funding. Georgian Partners led the round with participation from return backers Mohr Davidow Ventures, iNovia, Nokia Growth Partners, Greycroft and RTP Ventures.