Wednesday, November 28, 2007

Gilt Groupe Raises $5M - NY, NY

Gilt Groupe Inc., which brings invitation-only "sample sales" to its members, has secured $5 million in financing from Matrix Partners.

Tuesday, November 27, 2007

Village Ventures Invests in LTSave - Williamstown, MA

Village Ventures, a Williamstown-based investment firm focusing on early-stage businesses, has made an investment of undisclosed amount in the first round of venture capital for LTSave, a Boston-based provider of technology-based services for employers, banks and bank platforms, affinity groups and membership organizations. LTSave provides retirement planning and investment management services to individuals for the management of their retirement assets. Its services are delivered as online applications.

TrueAdvantage to be Acquired by InsideView - Southborough, MA

InsideView, a California-based provider of web-based sales intelligence services, said on Tuesday that it will acquire Southborough-based counterpart TrueAdvantage, a provider of sales lead generation software. Financial terms of the deal were not disclosed. "We're working closely with InsideView executives to make the transition for our customers as easy as possible," said Jake O'Leary, the vice president of technology at TrueAdvantage. The deal comes nearly six months after InsideView raised $7.4 million in its first round of funding, led by Emergence Capital Partners.

Optiant Raises $2,400,000 in Series C - Burlington, MA

Optiant is a provider of inventory planning and optimization solutions. Investment was led by LogiSpring Management.

Monday, November 26, 2007

Kalido Raises $10M Series D - Burlington, MA

Kalido, a data warehousing and management software firm, has raised $10 million in Series D funding from Atlas Venture, Balderton Capital, and Matrix Partners.

Monday, November 19, 2007

Backchannelmedia Raises $3 Million in First Round - Boston, MA

Backchannelmedia, a Boston-based provider of digital television ad serving and response capture technology, announced that it has raised $3 million more in its first round of venture capital, bringing the total raised in the round to $10 million. Founded in 2000, Backchannelmedia is currently designing a complete "continuous loop" system that aims to merge direct marketing, Internet advertising, and television advertising industries into one platform driven by television consumer response results. The company said that it anticipates launching a closed over-the air-trial of the technology through a limited number of digital television stations and content providers during the first half of 2008.

Thursday, November 15, 2007

Copanion Raises $6 Million in First Round - Andover, MA

Copanion, an Andover-based developer of tax document automation technology, has raised $6 million in its first round of venture capital, led by Commonwealth Capital Ventures and Pilot House Ventures. The company also recently announced the launch of its web-based applications for automating client tax document organization, data entry and review. The software is designed to recognize and process a range of tax documents with image processing, biometric pattern recognition and machine learning technology.

Tuesday, November 13, 2007

CaseNET Raises $7.5 Million in Second Round of VC - Waltham, MA

CaseNET, a Waltham-based provider of workflow management software for health plans, disease management organizations, governmental agencies and large provider groups, has raised $7.5 million in its second round of venture capital. The investment was led by Boston-based HLM Venture Partners, which committed $4 million to the round. Other investors in the deal include Sigma Partners, Aurora Funds and Howard Cox. Peter Grua, a partner at HLM, will join the CaseNET board of directors.

Vivox Raises $7.8 Million in Second Round - Framingham, MA

Vivox, a Framingham-based provider of voice communication services for online games and virtual worlds, has raised $7.8 million in its second round of venture capital, led by Benchmark Capital. Other investors in the deal include Canaan Partners and GrandBanks Capital. Vivox offers managed voice communication services that are designed to integrate with online games, virtual worlds, and online communities with managed voice communication services. The company said that it currently has customers with millions of subscribers in more than 180 countries.

KoolConnect Raises $6.5 Million in Venture Capital - Needham, MA

KoolConnect Technologies, a Needham-based provider of digital in-room entertainment services to the hospitality industry, has raised $6.5 million of a planned $10.5 million round of venture capital. The investment was led by the Lewis Trust Group. Other investors include Arthur Wiener, a real-estate developer in New York City and Plough Penny Partners, a venture capital firm in New York. KoolConnect said it will use the funds for "a new wave of standard and high-definition media entertainment services to complement its video on-demand products."

FirstBest Systems Raises $7 Million in First Round - Lexington, MA

FirstBest Systems, a Lexington-based developer of underwriting management software for commercial insurance carriers, has raised $7 million in its first round of venture capital, led by IDG Ventures Boston. Other investors in the deal include NextStage and Brookstone Partners. Founded in 2006, FirstBest offers a web-based software for underwriting all commercial lines of business. It is designed to support increased profitability, improved ease of doing business, and the continuous capturing and sharing of underwriting best practices.

Monday, November 12, 2007

IBM to acquire Cognos for $5B

IBM Corp. and software maker Cognos Inc. report reaching an agreement for IBM to acquire Cognos, a Canadian company that operates a U.S. branch in Burlington.

Friday, November 09, 2007

Allurent Raises $7.5M Series B Round - Cambridge, MA

Allurent today announced that it has secured a second round of institutional financing led by Polaris Venture Partners. Polaris participated in Allurent’s initial round of financing and is reinvesting. GSI Commerce Inc. (Nasdaq: GSIC), a leading provider of e-commerce solutions, also participated in this round. Allurent’s software products enable Internet retailers to deliver engaging online shopping experiences from initial browsing through final purchase.

Thursday, November 08, 2007

Frame Media Raises $2 Million in Second Round - Boston, MA

Frame Media, a Boston-based provider of provider of software and content for wireless digital picture frames, has raised $2 million in its second round of venture capital, which was led by CommonAngels and Longworth Venture Partners. Frame Media's main product can be branded and customized to work with any Wi-Fi enabled photo frame or connected device. The user can program a stream of content that is updated dynamically, marrying their own photos with fresh content from a library of hundreds of channels including news, sports, weather, traffic, stock quotes, horoscopes and imagery from third-party photographic collections.

ExaGrid Systems Raises $20 Million Round of VC - Westborough, MA

ExaGrid Systems, a Westborough-based provider of data disk-based backup technology, has raised $20 million in a new round of venture capital led by Lehman Brothers Venture Partners. ExaGrid's system is designed to minimize the amount of data stored by a company by providing standard data compression for the most recent backups along with "byte-level data de-duplication" technology for all previous backups. Other investors in the company include Highland Capital Partners and Sigma Partners. The latest investment round is expected to fund ExaGrid to "cash positive status," the company said.

Wednesday, November 07, 2007

V.i. Labs Raises $8 Million in Second Round - Waltham, MA

V.i. Labs, a Waltham-based developer of security technology for software applications, has raised $8 million its second round of venture capital, led by Core Capital Partners and Ascent Venture Partners. V.i.'s technology is designed to automatically embed protection capabilities within software applications. The company said that it will use the proceeds to hire engineering staff, as well as expand sales and marketing efforts.

W2 Group Raises $30 Million Investment - Waltham, MA

W2 Group, a Waltham-based provider of social media marketing services, announced that it has received a $30 million investment from Monitor Clipper Partners. The funding is part of a larger plan to grow the company organically and through acquisitions, and is part of a $100 million total commitment from Monitor Clipper. W2 operates Digital Influence Group, a social media marketing unit, and Racepoint, a global PR agency; clients between them include Sony, AOL/Third Screen Media and HP/Neoware. Over time, W2 said, it will access additional funds to build out complementary marketing services in other areas including branded digital community building, social networking, traditional and digital media relations, Web 2.0 publishing, mobile, and online research and analytics.

Wimba raises $8.4M Series B For Teaching Tools - NY, NY

Wimba Inc. has raised an $8.4 million round for collaborative teaching software aimed at colleges and universities.

Makeover Solutions raises $7M in VC funding - NY, NY

Makeover Solutions Inc. has landed $7 million in its first venture round for its Web site, which allows women to test how they would look with different hair styles, makeup and accessories.

Health Market Science Raises $42M in Recap Round - King of Prussia, PA

Edison Venture Fund has led a $42 million recapitalization financing for database company Health Market Science.

Monday, November 05, 2007

HubCast said Monday it has secured $8.1 million in Series A funding - Burlington, MA

HubCast has secured $8.1 million in Series A funding. The Burlington, Mass., company, which develops Web-based software for the offset and digital printing industry, said the funding was led by Commonwealth Capital Partners and Ascent Venture Partners. The funding will be used to invest in research and development and operations expenses, according to a HubCast statement.

Cilk Arts Raises First Round of Venture Capital - Lexington, MA

Cilk Arts, a Lexington-based developer of software programming tools for multiprocessor computers, has raised an undisclosed amount of venture capital in its first investment round, led by Ray Stata, founder and chairman of Analog Devices, and Paul Levine, founding CEO of Atria software. Founded in 2006 by Charles Leiserson, a professor at MIT, Cilk has also received grant funding from the National Science Foundation. Leiserson is now serving as Cilk's CTO, while Duncan McCallum, who previously ran the Boston office of Bessemer Venture Partners, is Cilk's CEO.

EqualLogic to be Acquired by Dell for $1.4 Billion - Nashua, NH

EqualLogic, a privately held, Nashua-based provider of storage area network technology, has agreed to be acquired for $1.4 billion in cash by the computer maker Dell. EqualLogic makes data storage systems that simplify the way organizations store and protect information. The company shipped its first product in 2003 and has since added more than 3,200 customers in 30 countries. Dell said that it plans to grow EqualLogic's channel-partner programs with current and future EqualLogic-branded products, and also plans to incorporate EqualLogic technology into future generations of its Dell PowerVault storage line.

NameMedia files for an IPO - Waltham, MA

NameMedia of Waltham, MA, filed for an IPO worth up to $172.5 million. The firm, which plans to trade on the NASDAQ Global Market under the symbol “NAME,” bills itself as “a leader in the acquisition, development and trading of digital real estate.” It operates both a targeted online media business and an online marketplace for domain names, according to its registration statement.

Friday, November 02, 2007

SoundBite Prices IPO to Raise $41.6 Million - Bedford, MA

SoundBite Communications, a Bedford-based provider of on-demand automated voice messaging technology, has priced its initial public offering of stock to raise a total of $41.6 million. The company sold about 4.7 million share priced at $8, while certain stockholders sold another 485,000 shares at that price. SoundBite said that it intends to use its net proceeds of the offering for working capital and other general corporate purposes, including the repayment of outstanding debt. Shares in SoundBite were trading unchanged at $8 as of mid-afternoon on Friday.

CyberSource Completes $662 Million Buy of Marlborough's Authorize.Net - Marlborough, MA

CyberSource, a California-based provider of electronic payment and risk management technology, has completed its acquisition of Authorize.Net, a Marlborough-based provider of online payment services, for $662 million in cash and stock. "CyberSource has long been a leader in bringing eCommerce to mid-sized and larger companies; Authorize.Net is a leader in providing similar services to small businesses," said Bill McKiernan, chairman and CEO of CyberSource, in an announcement about the deal's closing. "The combination of our two companies helps secure our leadership position in eCommerce and gives us more resources to bring innovative payment solutions to our customers and partners." Authorize.Net was founded 11 years ago.

Virtual Iron Software Raises $13 Million in Fourth Round - Lowell, MA

Virtual Iron Software, a Lowell-based provider of server virtualization and virtual infrastructure management software, has raised $13 million in its fourth round of venture capital, PE Week Wire reported on Friday. Investors in the deal The Brookside Group was joined by return backers Highland Capital Partners, SAP Ventures, GS Capital Partners, Intel Capital and Matrix Partners.

Thursday, November 01, 2007

Tego Raises $6 Million in First Round of Venture Capital - Waltham, MA

Tego, a Waltham-based developer of "high-memory," passive RFID tag technology, has raised $6 million in its first round of venture capital, led by Bainco International Investors, an asset management and wealth advisory firm. Tego's technology is designed for applications in aerospace, defense, transportation, and other industries requiring storage, retrieval and management of large amounts of data and information on a passive tag. The company said it will use the new investment funds for development and commercialization of its products that will be initially launched for the aerospace industry.