Tuesday, July 31, 2007

MTM Technologies Raises $3.5 Million from Pequot Ventures - Stamford, CT

MTM Technologies, a Stamford-based provider of IT products to large and mid-sized companies, announced that it has raised $3.5 million of equity investment from Pequot Ventures, an existing investor in the company. "The additional preferred equity financing improves our working capital position and will help drive the continued execution of our positive Fiscal 2008 plan," said Jay Braukman, MTM's CFO. Also, on Monday, MTM announced that it anticipates that for the quarter ended June 30, its revenue will be about $67 million and income will be in the range of $500,000 to $550,000.


StreamBase Raises $15 Million in Third Round of VC - Lexington, MA

StreamBase, a Lexington-based provider of data storage and analysis software, has raised $15 million in its third round of venture capital, led by Highland Capital Partners. Other investors in the deal include Accel Partners London, Bessemer Venture Partners, and In-Q-Tel. On Tuesday, StreamBase also announced a series of initiatives aimed at securing additional market share in an industry "expected to grow to $1 billion by 2010." The company has expanded its corporate headquarters by more than 50% to accommodate additional staff in its services and support, sales, business development, engineering, and marketing units. In addition, the company has opened a West Coast office in San Mateo, Calif. to support demand in emerging markets such as electronic entertainment, energy, and telecommunications networking industries. StreamBase raised a total of $31 million in venture capital to date.


Monday, July 30, 2007

Insight Direct Raises $6 Million in First Round - Boston, MA

Insight Direct, a Boston-based provider of field service operations management software, has raised $6 million in its first round of venture capital, according to a report in PE Week Wire on Monday, which cited a regulatory filing as its source. Founded in 1997, Insight Direct's software supports employee access and mobile web management, dispatch board, inventory management, vendor relationship management, purchase order control, equipment tracking, and employee payroll management, among other features. The company's software is installed in 28 countries and used by over 3,000 field service customers including Maid to Perfection and Unilever.


Desktone Secures $17 Million in Venture Funding - Chelmsford, MA

Desktone, Inc., provider of the industry's first unified virtual desktop platform, announced that it has closed $17 million in venture funding. The Series A round was co-led by Highland Capital Partners and SoftBank Capital, and also included Citrix Systems, Inc. (Nasdaq:CTXS), and China-based Tangee International. Desktone, founded in 2006, intends to use the capital to fund global sales, marketing and development for its desktop virtualization platform.


Wednesday, July 25, 2007

BladeLogic Prices IPO to Raise $75 Million - Lexington, MA

BladeLogic, a Lexington-based developer of data center automation software, has priced its initial public offering to raise a total of $75 million. The company sold 5 million shares priced at $17 per share. Two weeks ago the company had indicated it expected to price the offering at between $12 and $14 a share. BladeLogic offers data center management software for provisioning, change, administration and compliance across complex, distributed server and application environments. The company's revenue in the six months ended in March 2007 was $27.1 million, compared to $12.2 million for the six months ended March 2006, an increase of 122%. Its loss in the six months ended March 2007 was $200,000, compared to $4.1 million for the six months ended March 2006.


Social Networking Site Going.com Raises $5 Million in VC - Boston, MA

Going.com, a Boston-based social networking site for "20-somethings," has raised $5 million in follow-on venture capital from Highland Capital Partners and General Catalyst Partners. Going.com's website is designed to provide information to users who want to know "what's happening in their cities." Events, including parties, cultural and social activities, are submitted by users. The site's user base has grown by 1200% since January to over 500,000 monthly visitors, while operating in four cities: Boston, Chicago, New York and San Francisco.


Tuesday, July 24, 2007

GuildCafe Raises First Round of VC from IDG Ventures - Cambridge, MA

GuildCafe Enertainment, a Cambridge-based, online social networking site for online gamers, has raised an undisclosed amount of funds in its first round of venture capital, led by IDG Ventures, according to a report on Tuesday in PE Week Wire. GuildCafe is a web site with content produced by people who play online, multiplayer games. The site allows users to create personal pages, upload photos and artwork, write blogs and connect with other users with similar interests.


Monday, July 23, 2007

VC Investing in Northeast U.S. Second Quarter Results

Total venture capital investing in all type of businesses in the Northeast during the most recent quarter rose to about $1.5 billion, up from about $1.3 billion for the same period last year, according to the latest Ernst & Young/Dow Jones VentureOne Quarterly Venture Capital Report, released on Monday. In the healthcare sector, investing took a bump up to $504 million during the quarter, compared to $440 million last year. The report puts the total number of investments in IT companies in the Northeast during the quarter at 87 deals -- up from 82 -- while the total amount of venture capital invested in the region's IT sector fell slightly to $638 million, down from $663 million.


Enterprise Social Media Co., Awareness Gets Series A - Waltham, MA

Awareness Inc., a provider of social media to enterprises, has changed its name and raised an undisclosed amount of Series A funding.


Vela Systems Raises $6M in VC Funding - Somerville, MA

Somerville-based startup Vela Systems Inc.'s mobile tablet PC-based software -- meant to replace the paper and clipboard carried by construction managers and other on-site personnel in related industries -- has raised $6 million in venture capital. The venture round, Vela Systems' first, was co-led by Commonwealth Capital Ventures in Waltham and GrandBanks Capital in Newton.


Friday, July 20, 2007

Airvana Raises $58.1 Million With IPO - Chelmsford, MA

Chelmsford-based Airvana, a provider of network infrastructure products used by wireless operators, raised $58.1 million through an initial public offering on Friday. The company priced the offering at $7 per share -- below the expected range. The company's stock began trading on the NASDAQ Global Market, trading under the ticker symbol AIRV. Investors in the company include Matrix Partners, Qualcomm Inc, and CommVest, LLC.


Thursday, July 19, 2007

Netezza Raises $108 Million in IPO; Stock Jumps 35% - Framingham, MA

Shares of Framingham-based Netezza Corporation, a provider of data warehouse hardware, shot up 35% by Thursday afternoon after the company raised $108 million through an initial public offering (IPO). The company's venture capital backers included Matrix Partners, Charles River Ventures, Battery Ventures, Orange, Sequoia Capital, and Meritech Capital Partners. Netezza's primary data warehouse appliance helps large companies access and analyze large amounts of information and data.


Dell To Acquire Billerica-Based SilverBack Technologies - Billerica, MA

Dell, the large computer manufacturer, announced on Thursday that it has entered into an agreement to acquire privately-held SilverBack Technologies, a Billerica-based provider of remote monitoring management services for IT infrastructure. Dell said that the terms of the deal will not be disclosed until all of the closing conditions are met. Dell said the acquisition is part of its strategy to focus on "IT simplification" for customers. SilverBack has received venture backing from Prism Ventures, North Bridge Ventures, Matrix Partners, Spectrum Equity, and Ironside Ventures.


Wednesday, July 18, 2007

Tripology raises $1.25M Series A Round - NY, NY

Tripology is a provider of a service via the Web that connects consumer travelers with specialized travel agents. Lead investor was Ascend Venture Group.


Tuesday, July 17, 2007

WebLayers Raises $7,000,000 in Series C Round - Cambridge, MA

WebLayers is a provider of governance and compliance solutions for XML, Web services, and service oriented architecture (SOA). Investors include Ascent Venture Partners (Lead), Cedar Fund, Veritas Venture Partners.


Spark Capital Closes Second Fund at $360M - Boston, MA

Boston venture capital firm Spark Capital reports closing a $360 million fund, the firm's second.
The fund will continue the firm's focus on investments in the media, entertainment and technology industries. The new fund increases the firm's total capital under management to $622 million, officials said.

Spark Capital, founded in 2005, plans to use the new fund to increase deal sizes and expand investment stages, according to officials. Active investments include New York-based KickApps Corp., Colorado-based Me.dium Inc. and California-based SendMe Inc.


Friday, July 13, 2007

Airvana Plans IPO Priced at Between $8 and $10 a Share - Chelmsford, MA

Airvana, a Chelmsford-based provider of network infrastructure products used by wireless operators to provide mobile broadband services, has filed with the Securities and Exchange Commission for its initial public offering of stock. The company indicated that it plans to sell 8.3 million shares, priced at between $8 and $10. Airvana's software and hardware products, which are based on Internet Protocol technology, allow wireless networks to deliver broadband-quality multimedia services to mobile phones, laptop computers and other mobile devices. In the first quarter of fiscal 2007, the company's cash flow from operating activities was $61.2 million and its operating loss was $21.5 million. The company employs about 400 engineers.


Skyhook Raises $8.5 Million in Third Round of Venture Capital - Boston, MA

Skyhook Wireless, a Boston-based provider of location-based wireless services technology, has raised $8.5 million in its third round of venture capital, led by RRE Ventures. Founded in 2003, Skyhook Wireless offers a metro-area positioning system that uses Wi-Fi networks rather than satellites or cell towers to deliver precise location data. The system requires no new hardware, works indoors and outdoors, provides an instant location and is more accurate than current technologies in congested downtown areas, according to Skyhook. Investors in the company also include Bain Capital, Intel Capital and Common Angels.


Thursday, July 12, 2007

GlassHouse Technologies Raises $7,500,000 in Series E Round - Framingham, MA

GlassHouse Technologies, is a provider of independent services that help organizations solve the business problems of enterprise storage, raised a $7.5M Series E round of funding. Investors included: Montagu Newhall Associates (Lead), Globespan Capital Partners, GrandBanks Capital, Kodiak Venture Partners, Paladin Capital Group, Sigma Partners.


Monday, July 09, 2007

Clickable Picks VCs And Angels For $3M Series A - NYC

Clickable Inc., provider of a service that enables online advertisers to self-manage their marketing campaigns on the Web, has secured a $3 million Series A round of funding to roll out its product.


VMware expects to raise $741M from IPO

EMC carve-out VMware expects to raise $741.4 million after expenses from its initial public offering, up from an initial projection of $100 million, according to a regulatory filing.


Highland Capital Partners Launches $300M Consumer Fund - Lexington, MA

Vanu raises $8M in VC funding - Cambridge, MA

Vanu Inc., a wireless software company, has raised $8 million in venture capital from Charles River Ventures.


Battery Ventures Closed $750M Fund - Waltham, MA

Battery Ventures, a venture capital and private equity firm focused on investing in technology and innovation worldwide, today announced that is has closed its eighth fund, BV VIII, at $750 million. This fund brings total committed capital in Battery’s eight funds to $2.9 billion.


Constant Contact files for IPO - Waltham, MA

Email marketing firm, Constant Contact Inc., on Friday registered an initial public offering of up to $86.25 million in common stock.