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Deal Announcements

Tuesday, August 04, 2015

  •  MacuLogix Raises $5 Million Venture Capital Equity

    Tuesday, August 04, 2015 5:44:00 AM PDT | VentureDeal

       Hummelstown, Pennsylvania  --  Medical diagnostic device maker MacuLogix has received $5 million in new venture capital equity financing, according to an SEC regulatory filing.

    MacuLogix has developed a diagnostic system to detect age-related macular degeneration symptoms.

    Investors in the financing were not disclosed, nor was how the company intends to use the funding proceeds.

    Company CEO John Edwards has been with the firm since 2008.

    MacuLogix is backed by a syndicate of strategic and private equity firms.
  •  BoardVitals Bags $1 Million Seed Venture Capital

    Tuesday, August 04, 2015 5:31:00 AM PDT | VentureDeal

       Gainesville, Florida  --  Software technology company BoardVitals has landed $1.1 million in new seed stage venture capital funding.

    BoardVitals has developed an online service and education resource to help aspiring physicians complete their board review test preparation.

    Rock Creek Capital made the investment.

    The company did not say how the funding proceeds would be used.

    BoardVitals was founded by Dan Lambert and was incubated at Blueprint Health.

Monday, August 03, 2015

  •  PicMonkey Picks Up $41 Million First Financing Round

    Monday, August 03, 2015 5:46:00 AM PDT | VentureDeal

       Seattle, Washington  --  Digital media technology company PicMonkey has raised $41 million in its Series A round of institutional financing.

    PicMonkey makes digital tools for photo editing and graphic design applications.

    Spectrum Equity (Pete Jensen) made the investment.

    The company did not say how the proceeds purposes would be used.

    Company CEO Jonathan Sposato is also Chairman of Geekwire, a technology blog.
  •  FreedomPop Nets $10 Million Venture Equity Funding

    Monday, August 03, 2015 5:30:00 AM PDT | VentureDeal

       Tarzana, California  --  Wireless technology company FreedomPop has landed $10 million in new venture capital equity financing.

    FreedomPop is a wireless Internet provider that delivers what it calls "100% free Internet with 4G broadband wireless Internet access."

    Axiata (Stephen Stokols) led the round, which included other undisclosed investors.

    FreedomPop said it would use the funding to expand its free services into Asia for the first time.

    FreedomPop is backed by an international syndicate of venture capital and private equity firms.

Friday, July 31, 2015

  •  NarrativeDx Nabs Venture Capital Debt

    Friday, July 31, 2015 5:45:00 AM PDT | VentureDeal

       Austin, Texas  --  Software developer NarrativeDx has received $718,000 in venture capital debt funding, according to an SEC regulatory filing.

    NarrativeDx is developing software that analyzes patient feedback in order to improve the hospital customer experience and maximize Medicare reimbursement for facilities.

    Investors in the financing were not disclosed, nor was how the company intends to use the funding proceeds.

    NarrativeDx was accelerated in 2014 at DreamIt Ventures.

    Company CEO Senem Guney co-founded NarrativeDx with Kyle Robertson.
  •  Aspyrian Therapeutics Raises Venture Capital Equity

    Friday, July 31, 2015 5:32:00 AM PDT | VentureDeal

       San Diego, California  --  Cancer treatment developer Aspyrian Therapeutics has secured $4.25 million in new venture capital equity funding, according to an SEC regulatory filing.

    Aspyrian is developing novel targeted therapies for cancer treatments utilizing antibody conjugates with tumor specific activation.

    The technology was developed at the National Cancer Institute and uses near-infrared light to activate a toxic die attached to monoclonal antibodies.

    The company has initiated a phase 1 study to treat recurrent head and neck cancer patients.

    Investors in the financing were not disclosed, nor was how the company intends to use the funding proceeds.

    Aspyrian previously raised $8.5 million in January 2015 from undisclosed investors.

Thursday, July 30, 2015

  •  Seedrs Lands Expansion Venture Capital

    Thursday, July 30, 2015 5:46:00 AM PDT | VentureDeal

       London, UK  --  Financial services technology company Seedrs has raised $15.6 million in expansion stage venture capital financing.

    Seedrs has developed an online equity crowdfunding service for entrepreneurs and investors.

    Woodford Patient Capital led the round, which also included other investors.

    The company said it plans to expand its marketing efforts in the UK, Europe and to launch its offerings in the United States.

    It previously raised at least $3 million in financing in December 2013.
  •  Avvo Accepts Series E Venture Capital Financing

    Thursday, July 30, 2015 5:30:00 AM PDT | VentureDeal

       Seattle, Washington  --  Legal website company Avvo has secured $71.5 million in its fifth round of institutional venture capital financing.

    Avvo has developed a free website that "empowers consumers to handle their legal matters with confidence."

    The site provides profiles and ratings of every attorney listed, as well as client reviews, attorney disciplinary records and any peer endorsements.

    Technology Crossover Ventures (Jay Hoag) led the round, which include previous investors Coatue Management (Thomas Laffont) and Vulcan Capital.

    The company said it would use the funding to  accelerate various marketing initiatives, expand its product offerings and hire additional personnel.

Wednesday, July 29, 2015

  •  Socure Secures Venture Capital Debt

    Wednesday, July 29, 2015 5:46:00 AM PDT | VentureDeal

       New York, New York  --  Security technology company Socure has landed $2.3 million in new venture capital debt investment, according to an SEC regulatory filing.

    Socure has combined an artificial intelligence system with proprietary machine learning algorithms and social behavior analysis to do a better job of identifying users.

    It refers to the system as Social Biometrics.

    Investors in the financing were not disclosed, nor was how the company intends to use the funding proceeds.

    Socure is still seeking $200,000 in additional debt financing, according to the filing.

    Company CEO Sunil Madhu founded Socure in 2012.
  •  Flipora Raises Seed Angel Capital

    Wednesday, July 29, 2015 5:30:00 AM PDT | VentureDeal

       Mountain View, California  --  Internet search technology company Flipora has secured $1.5 million in seed stage Angel investment.

    Flipora is developing what it calls a next-generation search engine "searching a very different kind of web."

    A number of Angel investors participated in the round, including Google AdSense developer Gokul Rajaram.

    The company said it would use the proceeds to launch updated mobile apps to complement its existing web offering.

    Co-founders are company CEO Jonathan Siddharth and CTO Vijay Krishnan.

Deal Announcement Archive »

Technology News

Tuesday, August 04, 2015

  •  NextCore Launches Integrated Virtual Reality Platform

    Tuesday, August 04, 2015 5:14:00 AM PDT | VentureDeal

       Los Angeles, California  --  NextCore has announced the launch of its integrated virtual reality (VR) "experience platform".

    Called NOON VR, the system enables users to upload and share their own videos and stream and download other videos via an application.

    In addition, the company has launched mobile apps for both the iOS and Android mobile platforms that will allow users to browse for and watch videos stored in their phone in VR mode.

    The company also debuted its VR headset, which is selling for $89..

    NextCore said that users will have access to its content sharing service, which currently includes more than 1,000 pieces of content in a variety of environments.
  •  PGE Launches Solar Suitcase Schools Program

    Tuesday, August 04, 2015 5:01:00 AM PDT | VentureDeal

       San Francisco, California  --  Pacific Gas & Electric (PG&E) announced that it has selected 19 northern and central California high schools for its inaugural Solar Suitcase Program.

    The program will feature students building portable solar units and sharing the solar suitcases with students in the country of Kenya.

    The suitcase was created by We Share Solar and supplies will be provided by the nonprofit Green Tech.

    The unit is a small, portable photovoltaic lighting system, with enough light for a small room.

    PG&E said it is supplying 100 solar suitcase units to the high schools and Green Tech will provide the students with training so they can assemble the suitcases.

Monday, August 03, 2015

  •  Alter-G Lands Venture Capital Debt

    Monday, August 03, 2015 5:15:00 AM PDT | VentureDeal

       Fremont, California  --  Electronics technology company Alter-G has secured $15 million in new venture capital debt investment.

    Alter-G has designed a body weight reduction system that helps in a variety of applications, including medical therapy.

    Oxford Finance and Silicon Valley Bank made the loan.

    The company said it will use the funds to "accelerate new product development, and increase marketing support for customers."

    Alter-G is backed by a syndicate of institutional venture capital and Angel investors.
  •  Venture Capital IPO Report - First Half 2015

    Monday, August 03, 2015 5:01:00 AM PDT | VentureDeal

    VENTURE CAPITAL IPO REPORT - FIRST HALF 2015

    SUMMARY

    During the first half of calendar year 2015, 39 venture capital-backed North American technology companies went public, raising a total of $4.33 billion in gross offering proceeds. This result represented a 3% sequential increase when compared to the second half of 2014, which tallied $4.2 billion in gross proceeds.

    Life Science companies continue to dominate IPO market activity. 11 Biotechnology and 9 Pharmaceutical companies secured a combined total of $1.37 billion during the period, representing 32% of all IPO proceeds. Six Medical Devices companies went public, raising $460 million.

    Four Software companies raised $231 million and six companies in the industries of IT, Internet, Security and Storage collected $1.26 billion in proceeds. Six companies in the remaining industries of Digital Media, Electronics, Ecommerce, Security and Storage raised a combined $1.27 billion.

    The largest IPO of the half year period was that of electronics manufacturer FitBit, which raised $732 million.

    With respect to pricing, 12 of the 39 IPOs priced above their expected range. 19 companies priced within the expected original or revised range and the remaining 8 companies priced below the original range sought. This represents an improvement over the previous half-year period, with more IPOs pricing above or within their expected range than in the previous period.

    The overall stock market exhibited a generally rising trend during this period, so greater visibility into market demand may have been the result. The half-year period ended on a strong note for the Life Sciences industries, with the last month of the period seeing six Bio/Pharma/Med Device offerings out of twelve going public in June. However, as of 7.31.2015, 16 of the 39 IPO share prices were lower than their initial flotation price, reflecting a middling general stock market for technology shares.

    INTERNET

    There were only two Internet company IPOs during the first half of 2014, continuing a recent trend of sparse offerings.

    Internet hosting provider GoDaddy (NYSE: GDDY) floated its IPO, raising $440 million in gross proceeds. Headquartered in Scottsdale, Arizona, the company provides a variety of Internet infrastructure services, such as domain name purchasing, website hosting and related services. GoDaddy had been backed by a syndicate of private equity and venture capital firms, including KKR, Silver Lake and Technology Crossover Ventures. The original pricing range was $17 - $19 and the shares priced just above the range at $20 each. The share price has since done well. As of 7.31.2015, the GDDY closed at $28.44 per share, 42% higher than the IPO price.

    SOFTWARE AND IT

    There were five IPOs during the second half of the year for the Software and IT industries, with gross proceeds totaling $513 million.

    In the largest Software IPO during the six-month period, San Luis Obispo, California-based MindBody (NASDAQ: MB) raised $100.8 million in gross proceeds at a price of $14 per share, within the original range of $13 - $15.  MindBody provides point of sale (POS) software for small businesses that also enables online booking, marketing and mobile support. Company shares on the day of the flotation dropped significantly to close down 17%. Since the IPO, its shares have fared worse, dropping further to $9.80.

    Healthcare IT company Evolent Health (NYSE: EVH) floated its offering and raised $195.5 million for its software and services that support the migration of legacy healthcare systems towards “value-based care and population health management”. Evolent priced its offering at $17 per share, above the expected range of $14 - $16 and the stock price has since risen by 25%, to $21.33 as of 7.31.2015.

    BIOTECHNOLOGY

    There were eleven biotechnology IPOs during the first half of 2015 compared to thirteen in the previous six month period, the most activity of any industry. Gross proceeds totaled $859 million, with five of the eleven IPOs pricing above their original range.

    Philadelphia-based Spark Therapeutics (NASDAQ: ONCE) raised $161 million at $23 per share, well above its estimated range of $19 - $21. Spark is currently developing its lead candidate that promises to treat retinal dystrophies that cause rare forms of blindness. The company was backed by a syndicate of venture capital firms and late stage investors including T. Rowe Price. Spark had previously raised $72.8 million in its Series B round of financing as recently as May of 2014, so its path to IPO was extremely fast. Its stock price since the IPO has skyrocketed 167% to close at $61.44 as of 07.31.2015.

    PHARMACEUTICAL

    Nine venture capital-backed Pharmaceutical companies went public in the first half of 2015, raising $413 million in aggregate gross proceeds, versus four companies that went public in the second half of 2014.

    Pharmaceutical IPOs were not characterized by a single large IPO event.

    Fremont, California-based Zosano Pharma (NASDAQ: ZSAN) was typical with its rather modest raise of $49.5 million in gross proceeds at $11 per share, within its original price range expectation of $10 - $12. Zosano is commercializing a proprietary transdermal microneedle patch system that promises to deliver drug formulations through the skin. It is in trials for multiple applications of the system and has already inked a strategic partnership and license agreement with Eli Lilly and Company.

    MEDICAL DEVICES

    Six venture capital-backed Medical Device companies went public versus five IPOs in the previous 6 month period.

    Glaucoma treatment device maker Glaukos (NYSE: GKOS) of Laguna Hills, California, raised $108 million in its IPO in November, 2014. Glaukos has created what it calls the iStent, a micro-bypass stent that is used in conjunction with cataract surgery to reduce intraocular pressure. The company priced its shares at $18, well above its original expected range of $13 - $15 per share. The stock has since increased 77% since its IPO, to close at $31.79 as of 7.31.2015.

    OTHER INDUSTRIES

    There were six IPOs covering the remaining technology sectors of Digital Media, Electronics, Ecommerce, Security and Storage. Aggregate gross proceeds totaled $1.27 billion.

    San Francisco-based FitBit (NYSE: FIT) floated its IPO, raising $732 million in gross proceeds.  The fitness electronic maker’s IPO went out above its estimated range, pricing at $20 per share versus an original expected range of $17 - $19 per share.  FitBit makes a line of popular wearable fitness tracking devices for consumers. The company was backed by a large syndicate of venture capital firms and strategic investors. Since the IPO, the company’s stock has more than doubled, increasing by 139%, to close at $47.75 per share as of 7.31.2015.

    Ecommerce technology company Shopify (NYSE: SHOP) based in Ottawa, Canada raised $130.9 million in gross proceeds for its IPO that priced shares above its expected range of $14 - $16 per share. Shopify provides a cloud-based e-commerce platform for small and medium-size businesses to get a clearer picture of their customer activity across various sales channels. The company was backed by a combination of Canadian and US based venture capital firms. Shopify’s stock price has shot up since the IPO, closing at $37.39 on 7.31.2015, representing an increase of 120% over the IPO flotation price.


                               Table 1 - Venture Capital IPOs – 1H 2015








    Not an offer or solicitation for sale of securities. This publication is not intended for use as a source of any advice such as investment, legal, medical, financial or accounting. The information contained herein may be subject to varying international, federal, state and/or local laws or regulations. VentureDeal utilizes data sources that it believes to be reliable, but cannot guarantee the accuracy or completeness of information presented. The purchaser or reader of this publication assumes responsibility for the use of these materials and information.

Friday, July 31, 2015

  •  Pinterest Launches Diversity Lab Initiative

    Friday, July 31, 2015 5:14:00 AM PDT | VentureDeal

       San Francisco, California  --  Online digital media technology company Pinterest has announced the launch of a new initiative to increase diversity in the technology industry.

    The company, in a blog post, announced its own goals for 2016, its plan for how to get there and its intent to publish how it is progressing along its goals.

    Among its goals, it plans to increase hiring rates for full-time engineering roles to 30% female and 8% underrepresented ethnic backgrounds.

    It plans to expand the number of universities it recruits from and work with an outside strategy firm to set up what it calls Inclusion Labs at Pinterest.

    The purpose of Inclusion Labs will be to "experiment with new ways to improve diversity."
  •  CyberX Debuts Industrial Threat Intelligence

    Friday, July 31, 2015 5:00:00 AM PDT | VentureDeal

       Palo Alto, California  --  Security technology company CyberX has announced the launch of its system aimed at the industrial market.

    Called the Industrial Threat Intelligence Platform, the new application promises to enable utilities worldwide to identify threats to their operations.

    CyberX says the system will provide insights "of both malicious and operational nature."

    The company will also disclose vulnerabilities that they discover on ongoing basis to affected vendors and ICS CERT.

    CyberX is backed by a syndicate of Israel-based venture capital firms.

Thursday, July 30, 2015

  •  Illinois Venture Capital Spotlight

    Thursday, July 30, 2015 7:35:00 AM PDT | VentureDeal

    Summary

    Venture capital funding of technology companies based in the state of Illinois for the five-year period of 2010 - 2014 has seen uneven results.

    Although 2014 was the best year of the five-year period, with Illinois-based companies raising $1.4 billion, the period of 2012 - 2013 showed a market decrease in funding, to a five-year low of $595 million in 2013.

    Illinois showed funding across a large number of industries, 24 during the five-year period.

    However, other states such as Colorado posted even better results, with 29 industries represented in the data.

    Nevertheless, Illinois shows a diverse and promising technology industry, with hopes of building on a record year of results in 2014.


    Investments by Industry

    The "Land of Lincoln" state accounted for 500 transactions between 24 industries. All major industries were represented, with Internet/IT/Software receiving by far the greatest number of investments at 266.




    Investments by Year

    Illinois venture capital funding has been uneven over the past five-year period, although three of the five years resulted in aggregate fundings exceeding $1 billion, in 2010, 2011 and 2014.





    Investment by City

    Although the state has seen a wide variety of cities represented in the data, predictably Chicago has accounted for nearly 70% of all financings. The cities of Champaign, Evanston and Skokie came in a distant second.





    Investments by Round

    Series A and Series B accounted for the majority of disclosed funding round designations. If the "Undisclosed" category were allocated to other rounds, it is likely that these numbers would increase proportionately.





    Investments by Amount

    The chart below shows the preponderance of funding rounds at or below $20 million. However, more than 50 rounds were above $20 million in the aggregate.

  •  Interpreta Debuts Healthcare Analytics Service

    Thursday, July 30, 2015 5:15:00 AM PDT | VentureDeal

       San Diego, California  --  Healthcare analytics technology company Interpreta has announced what it calls its "fifth-generation healthcare analytics service."

    The service is a subscription-based system that "eliminates non-complementary system sprawl and provides near-zero latency."

    The application is designed for health plans, accountable care organizations and national health systems to access its clinical and molecular data.

    The company says that it provides continuous genomic interpretations using actual DNA sequences and not reported biomarkers from third-party laboratories.

    The application also updates a patient's annual care plan in compliance record every 24 hours, at national health system scale.

    Interpreta recently emerged from stealth mode and says that its mission is to "bridge the gap between big data, genomics and individualized health management."
  •  ARROW Endurance Catheter Gets FDA Clearance

    Thursday, July 30, 2015 5:00:00 AM PDT | VentureDeal

       Wayne, Pennsylvania  --  Teleflex (NYSE: TFX) announced that its new peripheral catheter system has received market clearance by the FDA.

    Called the ARROW Endurance Extended Dwell Peripheral Catheter System, the medical device enables doctors to avoid using multiple PIVs and instead substitute its catheter for dwell time of up to 29 days.

    The catheter is an intravascular catheter designed to permit delivery of various infusion therapies, pressure monitoring, injection and blood withdrawal.

    Teleflex designed the system in order to increase clinician safety and reduce needle sticks for patients, by containing a passive needle safety system that reduces accidental needle stick injuries.

    The catheter also features a closed system that makes it much more difficult for clinicians to come into contact with blood-borne pathogens.

Wednesday, July 29, 2015

  •  Amazon Caters to Startups with Launchpad

    Wednesday, July 29, 2015 5:14:00 AM PDT | VentureDeal

       Seattle, Washington  --  Amazon (NASDAQ: AMZN) has announced a new initiative to make it easy for startups to launch their real-world products.

    Called Amazon Launchpad, the new program features "a streamlined on boarding experience, custom product pages, a comprehensive marketing package, and access to Amazon's global fulfillment network."

    The site features a dedicated Amazon Launchpad store and has been described as a direct competitor to popular startup information site ProductHunt.

    Amazon said that it is working with more than 25 venture capital firms, accelerators and crowdfunding platforms to bring startups into its new program.

    The company cited a number of startups already using the new service.
  •  Roku Selected by Telstra For TV Streaming

    Wednesday, July 29, 2015 5:01:00 AM PDT | VentureDeal

       Saratoga, California  --  Streaming technology company Roku announced that its platform has been selected by Australian telecom operator Telstra.

    Telstra will use the Roku platform to stream television services to its customers starting later this year.

    The telecom provider will also bundle its BigPond movie service with a variety of other TV channel offerings.

    Roku said that Telstra is now the fourth telecom firm to join its Roku Powered licensing program.

    Other operators include Sky UK, Sky Deutschland and Sky Italia.

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