Act-On raises $42 mln in deal led by TCV

Act-On Software, a developer of marketing automation software, has raised $42 million in new funding led by Technology Crossover Ventures. Existing investors Norwest Venture Partners, Trinity Ventures, US Venture Partners and Voyager Capital also participated. Act-On previously raised $32 million in funding since it was founded in 2008. As part of the funding, David Yuan, general partner at TCV, has joined the board.


Mobile app Snupps launches, announces previous $5 mln seed round

London-based Snupps launched its app on the iOS platform today and disclosed that it previously raised $5 million in seed funding from Amr Zedan. Zedan has made early-stage bets in such companies as Jumio and Palantir Technologies, among others. Snupps provides a way for users to take mobile pics of their stuff and personal belongings (from wine to knickknacks in the home).

Kabbage raises $270 mln in cabbage

Kabbage, an online lender for small businesses, announced today that it has raised a $270 million revolving line of credit. The debt round, which goes directly into the company’s lending operations to provide funding to its customers, was oversubscribed. Investors were undisclosed, but a Kabbage spokesperson said they include major banks, pension funds and insurance companies. Previously, the Atlanta-based company raised $97 million in debt, including a $75 million credit facility through Victory Park Capital and Thomvest Ventures in 2013.

Silicon Valley-based Guericke named partner of Earlybird

Berlin-based venture firm Earlybird Venture Capital announced today it has named Konstantin Guericke a partner. He becomes the fifth partner at the firm, which in mid-2013, raised $200 million for its fourth early-stage fund. Guericke has been in Silicon Valley for some 20 years and is co-founder and former VP of marketing of LinkedIn. He joined Earlybird nearly two years ago as a venture partner.


Accel backs mobile game developer Industrial Toys

Accel Partners, which is no stranger to the gaming sector, having backed Playfish, Rovio, Supercell and others, has announced it led a $5 million Series A investment in Industrial Toys. This is the first institutional round raised by the Pasadena, Calif.-based company, which is led by CEO Alex Seropian, a video game veteran and former president of Bungie.


Alibaba leads $280 mln investment in Tango

The Alibaba Group, a Chinese e-commerce giant that is preparing a highly anticipated IPO in the United States, has led a $250 280 million investment in Tango, a Mountain View, Calif.-based developer of messaging and other mobile services. Tango said Alibaba invested $215 million with the additional $65 million coming from some of Tango’s prior investors. Tango previously raised $87 million from Access Industries, Draper Fisher Jurvetson, Qualcomm Ventures, Toms Capital, Translink Capital and individual investors Bill Tai, Shimon Weintraub, Jerry Yang, Alex Zubillaga and others. With the latest round, Tango has now raised $367 million in total funding. Alibaba’s investment in the mobile app developer comes about a month after Facebook agreed to buy WhatsApp, a provider of mobile messaging services, for $19 billion in cash and stock.

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