Deals of the Day
Ecast Inc., a San Francisco-based operator of a broadband-enabled touchscreen media network, has raised $20 million in new venture capital. Focus Ventures led the deal, and was joined by return backers Mobius Venture Capital, Crosslink Capital, DCM and El Dorado Ventures. The company has raised over $80 million in total VC funding since its 199 inception.
ContextWeb Inc., a New York-based provider of real-time contextual advertising solutions, has raised $15.5 million in Series C funding. Draper Fisher Jurvetson led the deal, and was joined by fellow return backers DFJ Gotham Ventures, Updata Partners and DFJ New England.
Compellent, an Eden Prairie, Minn.-based provider of data storage and data management solutions, has raised $15 million in new venture capital. Nomura International led the deal, and was joined by return backers Cargill Ventures, Centennial Ventures, Crescendo Ventures and El Dorado Ventures. It has raised more than $53 million in total VC funding.
Nexaweb Technologies Inc., a Burlington, Mass.-based company focused on helping enterprises deploy Web 2.0 applications, has raised $10 million in Series B funding. Return backers include Egan-Managed Capital, Masthead Venture Partners and Velocity Partners.
Full Capture Solutions Inc., an East Hartford , Conn.-based provider of predictive solutions for the insurance industry, has raised $7 million in Series B funding. Greylock Partners led the deal, and was joined by return backer Ignition Partners.
Mobile Cohesion, a Belfast , Ireland-based provider of partner relationship management solutions for the telecom industry, has raised $4.8 million in second-round funding. Enterprise Equity led the deal, and was joined by Viridian Growth Fund and return backers Accel Partners and Cross Atlantic Partners.
Sterling Capital Partners and Citigroup Private Equity are sponsoring a proposed $8 per share management buyout of Educate Inc. (Nasdaq: EEEE). The company’s stock price closed at $7.06 per share on Friday, and Educate says that it will review the proposal.
France Telecom has received European Commission approval to sell its 54% stake in directories company PagesJaunes for around €3.3 billion, to a private equity consortium that includes KKR, AXA Private Equity, Eurazeo and Goldman Sachs.
eHealth Inc., a Mountain View, Calif.-based online source of health insurance for individuals, families and small businesses, has set its proposed IPO terms to five million common shares being offered at between $10 and $12 per share. It plane to trade on the Nasdaq under ticker symbol EHTH, with Morgan Stanley and Merrill Lynch serving as co-lead underwriters. The company raised around $86 million in VC funding, from firms like Sprout Group, Kleiner Perkins Caufield & Byers, Lightspeed Venture Partners, QuestMark Partners and Lake Street Partners.
Caribe Acquisition Holdings, a portfolio company of Welsh, Carson, Anderson & Stowe, has agreed to acquire ACS Media LLC for Cdn$188 million. ACS Media is the largest publisher of print and Internet advertising directories in Alaska.
RigNet Inc., a Houston, Texas-based provider of managed communications services for the upstream oil and gas industry, has acquired OilCamp AS, a Norwegian provider of communications services to the oil industry. No financial terms were disclosed. RigNet has raised nearly $14 million in VC funding from firms like Altira Group, HitecVision and Sanders Morris Harris, while OilCamp had been backed by HitecVision and TeleVenture Management.
Siemens Building Technologies Inc. has agreed to acquire VistaScape Security Systems Corp., an Atlanta-based provider of video analytic technology designed to protect critical infrastructure from a broad spectrum of threats. No financial terms were disclosed for the deal, which is expected to close within 30 days. VistaScape has raised over $18 million in VC funding from firms like H.I.G. Capital, Paladin Capital Group, CDP Capital and Visionaria Venture Capital.
General Atlantic has agreed to acquire a 52% interest in Emdeon Business Services from Emdeon Corp. (Nasdaq: HLTH). The total transaction is valued at approximately $1.2 billion, including $320 million from General Atlantic and $925 million in leverage from Citigroup, Deutsche Bank and Bear Stearns. Emdeon was advised by The Blackstone Group and Citigroup Corporate and I-Banking. Emdeon Business Services provides revenue cycle management and clinical communication solutions for the healthcare market.
Rebtel Networks AB, a Sweden-based provider of mobile VOIP services, has raised $20 million in Series A funding from Benchmark Capital and Index Ventures.
Air2Web Inc., an Atlanta-based provider of mobile messaging and marketing applications, has raised $25 million in third-round funding. The Carlyle Group led the deal, and was joined by return backers VantagePoint Venture Partners, UPS and company founder Jay Chaudhry. This is Air2Web’s first VC round since 2001, and brings its overall venture capitalization to around $77 million.
Mavent Inc., an Irvine, Calif.-based provider of automated compliance solutions for the financial services industry, has raised $10 million in Series C funding led by FT Ventures.
Wallop, a San Diego-based social networking spinout from Microsoft, has raised $10 million in Series B funding. Norwest Venture Partners led the deal, and was joined by return backers Bay Partners and Consor Capital.
Whaleback Systems Inc., a Portsmouth, N.H.-based provider of IP telephony services for small and mid-sized businesses, has raised $7.5 million in Series B funding. Castile Ventures led the deal, and was joined by Egan-Managed Capital and return backer Ascent Venture Partners.
Enkata Technologies Inc., a San Mateo, Calif.-based provider of enterprise performance management software, has raised $4.88 million in fourth-round funding, according to a regulatory filing. Sigma Partners was joined by return backers ComVentures and Apex Venture Partners.
Sermo, a Cambridge, Mass.-based online community for physicians, has raised $3 million in Series A funding from Longworth Venture Partners.
Genbook Inc., a San Francisco-based provider of online advertising solutions, has raised $2.2 million in Series A funding led by Neo Technology Ventures of Australia.
September 28, 2006 Deals of the DayVisto Corp., a Redwood City, Calif.-based mobile access company, has raised $51 million in new venture capital funding. Return backer Oak Investment Partners led the deal, and was joined by DFJ Growth Fund and other existing shareholders like Meritech Capital Partners, DFJ ePlanet Ventures, Rustic Canyon Ventures and Blueprint Ventures. Visto has raised over $250 million in total VC funding since its 1996 inception, including a recap in 2001.
Neusoft Group Ltd., a Shanghai-based software and solutions provider, has raised $40 million in strategic funding from Intel Capital. Under terms of the agreement, Neusoft will establish a “solution performance optimization competency center” based on Intel architecture and platforms. The deal is subject to regulatory approvals.
GridPoint Inc., a Washington, D.C.-based provider of energy management products, has raised $21 million in strategic third-round funding led by Goldman Sachs. GridPoint raised a $16 million Series B deal earlier this year from Altira Group, Contango Capital and Advantage Capital Partners.
Ario Data Networks, a San Jose, Calif.-based provider of mid-sized enterprise storage solutions, has raised $8 million. Clearstone Venture Partners and Partech International co-led the deal, and were joined by fellow return backers Mellon Ventures, Evercore Partners, Anthem Venture Partners and Sunsino Ventures.
oDesk Inc., a Palo Alto, Calif.-based online marketplace for hiring global technical talent and provider of Web-based tools for managing remote staffers, has raised $8 million in Series B funding. Benchmark Capital led the deal, and was joined by return backers Globespan Capital Partners and Sigma Partners.
Anodyne Health Partners, a Falmouth, Maine–based provider of revenue cycle management solutions for healthcare providers, has raised $5.6 million in new venture capital funding. Backers include Brook Venture Partners, Frontier Capital, Brooke Private Equity Advisors and the Small Enterprise Growth Fund.
Auctionpay Inc., a Portland, Ore.-based provider of fundraising software and service solutions for the nonprofit community, has raised $5.5 million in Series B funding from Appian Ventures and return backer Maveron.
GuardID Systems Inc., a San Mateo, Calif.-based company focused on the prevention of online identity theft and fraud, has raised $5 million in first-round funding from Trinity Ventures.
OpenLogic Inc., a Broomfield, Colo.-based provider of open-source enterprise software stacks and support services, has raised $4.3 million in second-round funding. Backers include UV Partners, Appian Ventures, Village Ventures, Highway 12 Ventures and Red Rock Ventures.
ETelemetry Inc., an Annapolis, Md.-based developer of network appliances that track such things as bandwidth usage and desktop computing assets, has raised $4 million in first-round funding led by Centripetal Capital Partners. The company was founded in 1999.
NitroSecurity Inc., a Portsmouth, N.H.-based provider of enterprise network security solutions, has secured $2 million of a $5 million Series C round, according to a regulatory filing. Brookline Venture Partners was joined by return backer First Analysis Corp.
Genesis Networks Inc., a New York–based provider of global video transmission services over fiber and satellite, has raised an undisclosed amount of second-round funding from Longworth Venture Partners and Masthead Venture Partners.
NextNine Inc., an Israel-based provider of support automation solutions, has raised an undisclosed amount of new VC funding led by Motorola Ventures. Return backers include Ascend Technology Ventures, Infinity Venture Capital Fund, Ofer Hi-Tech, Yozma Venture Capital Group, Morgan Stanley Dean Witter Private Equity and Redwood Venture Partners. The company previously had raised $34 million in total VC funding since its 1999 inception.
Duke Street Capital has agreed to acquire UK-based IT services company 2e2 from Gresham Private Equity for £130 million.
Sandler Capital Management has acquired substantially all of the assets of the Crafts Group from Primedia Inc. (NYSE: PRM) for approximately $132 million in cash. The group will be renamed Enthusiast Media LLC, and publishes nine consumer publications like Creating Keepsakes and McCall’s Quilting.
Audax Group has acquired a majority of Flexstar Technology Inc., a Fremont, Calif.-based provider of data storage testing solutions. No financial terms were disclosed. Rigel Associates and company management also participated in the deal’s equity tranche, while Comerica provided senior leverage financing.
Block Interest Discovery Service (BIDS) has launched as an alternative trading system for the block trading market. It is being backed by six brokerage firms, although no financial terms were disclosed. The firms are: Citigroup, Goldman Sachs, Lehman Brothers, Merrill Lynch, Morgan Stanley and UBS. A CEO announcement will come within the next few weeks, with trading expected to commence in early 2007.
Demand Media Inc., a Santa Monica, Calif.-based acdquiror of online content sites and generic Internet domain names, has raised $100 million in second-round funding. 3i Group and Oak Investment Partners co-led the deal, while Spectrum Equity Investors also participated. Demand Media was formed earlier this year with a $120 million infusion from Oak, Spectrum and Generation Capital Partners.
VideoEgg Inc., a San Francisco-based provider of Web-based video publishing solutions, has raised $12 million in Series C funding. Maveron led the deal, and was joined by return backers August Capital and First Round Capital.
3VR Security Inc., a San Francisco-based provider of next-generation video recorders, has secured $9 million of a $17 million Series C round, according to a regulatory filing. Return backers include DAG Ventures, Kleiner Perkins Caufield & Byers and VantagePoint Venture Partners.
BoardVantage Inc., a Menlo Park, Calif.-based provider of secure portals for corporate board work, has raised $5.5 million in fourth-round funding from return backers Bay Partners and Foundation Capital.
Integrated Mobile Inc., a Columbus, Ohio-based provider of wireless managed mobility services, has raised $5 million in private equity funding from Enhanced Equity Fund.
SignStorey Inc., a Fairfield, Conn.-based provider of in-store media networks for the grocery industry, has raised an undisclosed amount of Series B funding. The company only would say that the deal lead was a “Fortune 1000 asset management company,” and that existing shareholder Golden Gate Capital also participated.
Switch and Data, a Tampa, Fla.-based provider of Internet exchange infrastructure, has filed to raise $150 million via an IPO of common stock. It plans to trade on the Nasdaq under ticker symbol SDXC, with Deutsche Banc Securities and Jefferies & Co. serving as co-lead underwriters. Switch and Data shareholders include CapStreet Group, Seaport Capital Partners and Tudor Ventures.
ICF International Inc., a Fairfax, Va.-based consulting and technology services firm, priced 4.67 million common shares at $12 per share, for an IPO take of approximately $56.04 million. It will trade on the Nasdaq under ticker symbol ICFI, while UBS served as lead underwriter. CM Equity Partners was the company’s majority shareholder pre-IPO, and still retains a significant ownership position.
Microsoft Corp. (Nasdaq: MSFT) has agreed to acquire Gteko Ltd., an Israel-based provider of support automation software solutions for personal computers. No financial terms were disclosed, although Israeli newspaper reports put the sale price at around $120 million. Gteko raised $12 million in a 2004 venture capital deal from firms like Intel Capital and Pitango Venture Capital.
Sun Microsystems Inc. (Nasdaq: SUNW) has agreed to acquire Neogent Inc., an Austin, Texas–based provider of identity management services automation. No financial terms were disclosed. Neogent has raised VC funding from Saber Capital.
Twisted Pair Solutions Inc., a Seattle developer of IP-based communications software, has raised $9 million in its first round of institutional VC funding. Ignition Partners and Core Capital Partners co-led the deal, and were joined by Chart Venture Partners.
ObjectVideo Inc., a Reston, Va.-based provider of video processing software for physical security applications, has raised $8 million in Series E funding, according to a regulatory filing. Backers include ABS Ventures, CMGI @Ventures, Novak Biddle Venture Partners and Updata Partners.
Fotolog Inc., a New York-based photo blogging community, has raised $4.1 million in Series C funding, according to a regulatory filing. Return backers include 3i Group and BV Capital.
Kurtosys Systems Inc., a New York-based provider of financial reporting software and services, has secured $3.4 million of a $5.15 million Series A deal led by True Ventures, according to a regulatory filing.
DoublePositive Marketing Group Inc., a Baltimore-based provider of sales lead generation solutions, has raised $2.7 million in Series B funding. The Grosnevor Funds led the deal, and were joined by return backers WWC Capital Group, Inner Harbor Brothers (Advertising.com founders) and Stein Kretsinger (former Advertising.com senior executive).
ForteMedia Inc., a Cupertino, Calif.-based provider of voice processing technology for automobile, PC and portable devices, has raised an undisclosed amount of strategic funding from Intel Capital. Existing ForteMedia shareholders include iGlobe Partners, Marvell Semiconductor, Pac-Link Management and UMC Capital.
The Riverside Co. has acquired It’s Just Lunch International, a Palm Desert, Calif.–based franchisor of matchmaking and dating services. No financial terms were disclosed for the deal, which also included participation from company management.
Shutterfly Inc., a Redwood City, Calif.-based provider of online digital photo services, priced 5.8 million common shares at $15 per share ($13-$15 range), for an IPO take of approximately $87 million. It will trade on the Nasdaq under ticker symbol SFLY, while JPMorgan served as lead underwriter. The company raised around $67 million in total VC funding from firms like Mohr, Davidow Ventures, Sutter Hill Ventures, Granite Ventures and Jim Clark’s Monaco Ventures.
Zavata Inc. (f.k.a. Integreo Inc.), an Atlanta-based provider of BPO solutions for the healthcare market, has acquired Accordis Inc., a Princeton, N.J.-based provider of business office services for hospitals and emergency transport agencies. No financial terms were disclosed. Zavata has raised around $36 million in VC funding from firms like BV-Cornerstone Ventures, Mellon Ventures, Petra Capital Partners and Sequoia Capital India.
