U.S. Venture Partners related stories
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Media6Degrees Inks $17M Series B RoundSocial media marketing start-up Media6Degrees has closed on $17 million in Series B financing from venture firms Menlo Ventures, U.S. Venture Partners and Venrock. As a result of the round, Menlo Ventures managing director Mark Siegel has joined Media6Degrees’ board. Media6Degrees’ technology is designed use to social data to deliver prospective customers to major marketers. The company will use the new financing to bolster its staff, and to continue develop its social targeting technology.
- China-based AltoBeam Seals $6M Series C
Beijing-based AltoBeam has raised $6 million in a Series C financing round led by US Venture Partners. Existing shareholders DFJ DragonFund, Tano Capital, and PYJ-Dynasty Venture Fund also contributed to the round. AltoBeam designs semiconductor technology used in television manufacturing. US Venture Partners is based in Menlo Park, Calif. USVP partners Irwin Federman and David Liddle will join AltoBeam’s board as a result of the financing.
- Groupon Sale Could Inspire More Clones
When Todd Rideman first heard about Groupon, he figured he could do it, too. After all, what's so hard about putting up a Website, offering a few deals each day from local merchants -- like $20 worth of cupcakes for $10 -- and then watching the cash roll in? So Rideman poured $100,000 of his hard-earned money into his own daily deal site and, at the beginning of the year, launched WowWhatSavings, targeting the Boston area. He quickly learned, however, that building a profitable Groupon clone isn't as easy it looks. "I was able to get the local merchants, but getting people to come to the site was costing a fortune," said Rideman. After six months, he had just a few thousand people on his distribution list. He has since morphed his business into a deal site for restaurants only, and has seen sales perk up. WowWhatSavings, based in Waltham, Mass., is one of more than 130 Websites that offer daily deals like Groupon, according to Yipit, which aggregates the deals. Now, with the New York Times reporting that Google is negotiating to buy Groupon for up to $6 billion, the space is likely to grow even more crowded.
- Yammer Adds $25M For Enterprise Social Networking
Yammer, a San Francisco-based start-up focused on social networking platforms for enterprise customers, has added $25 million in a third round of funding. The latest round brings Yammer’s total financing to $40 million. U.S. Venture Partners led the round, which included participation from previous shareholders Emergence Capital, Charles River Ventures and Founders Fund. U.S. Venture Partners’ Mamoon Hamid will join Yammer’s board.
- Best of peHUB - November
The top 10 posts on peHUB.com in November, as judged by the editors of VCJ
Success of Groupon Inspires ImitatorsDespite Groupon’s dominant market share and continued growth, clones of the group buying site continue to spring up and attract venture capital
- Redwood Systems raises $15M in Series B
Redwood Systems, a California-based lighting company, has secured $15 million in Series B funding, the company announced. The investment came from news investor Index Ventures, as well as return investors Battery Ventures and U.S. Venture Partners. The funds will be used to expand the company into key markets. Neil Rimer, the co-founder and partner of Index Ventures, will now join Redwood’s board.