Bain Capital Ventures leads Series A round for OpenFin

OpenFin said Wednesday that it has secured $4 million in Series A funding. Bain Capital Ventures led the round. According to the firm, the capital will be used for product development and to expand its engineering team in both New York and London. Also, the firm has recently hired Mark Josling as vice president of applications. OpenFin is a provider of runtime technology for financial desktop applications.

VC-backed Zero Turnaround hires new CFO

According to a blog post on its site, Zero Turnaround has named Roger Colvin as chief financial officer. Colvin is the co-founder of Bullhorn, a Boston human resources software company that was acquired by Vista Equity Partners in mid-2012. Zero Turnaround is a provider of software development tools. Its backers include Bain Capital Ventures and Western Technology Investment. To read the announcement, visit here.


Gainsight raises $20 mln in funding

Gainsight, which develops customer-focused software, has raised a $20 million Series B round of funding led by Bain Capital Ventures. Existing investors Battery Ventures and Summit Partners also participated in the round. The Mountain View, Calif.-based company has now raised $30 million in total funding. As part of the latest round, Ajay Agarwal, managing director at Bain Capital Ventures, has joined the board.

QA Software Developer Compass Quality Raises $2M

San Francisco-based Compass Quality Insight announced it has raised $2 million in funding from Bain Capital Ventures and XSeed Capital. The company, which develops quality assurance software, was founded in 2012. Board members include Ben Nye of Bain Capital Ventures and Robert Siegel of XSeed Capital.

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VMTurbo Raises Series C In Deal Led By Globespan

VMTurbo said it raised Series C funding in a deal led by Globespan Capital. VMTurbo’s funding now totals $25 million. The company had raised a $10 million of Series B in 2011 and at that point had $17.5 million in total funding, according to news reports at the time. This suggests the current round is $7.5 million. VMTurbo didn’t provide details. Existing investors include Bain Capital Ventures and Highland Capital Partners.

Booker Raises $27.5M From Bain, Revolution, Grotech, Others

Booker, formerly GramercyOne, said it raised $27.5 million in Series B funding in a deal led by Bain Capital Ventures and joined by existing investors Revolution Ventures, Grotech Ventures, TDF Ventures, and Vital Financial. The company will use this money to scale its product and sales staffs.

Rent the Runway Fashions a Series C Round Add On

Rent the Runway, which rents designer clothes, shoes and accessories to users, has raised $4.4 million in additional Series C funding from American Express and Novel TMT Ventures. The company previously raised $20 million in Series C funding from Advance Publications, parent company of Condé Nast, Bain Capital Ventures, Highland Capital Partners and Kleiner Perkins Caufield & Byers.

Ability Network to Merge with Ivans

Bain Capital Ventures‘ portfolio company, ABILITY® Network has entered into an agreement to merge with Stamford, CT-based IVANS, a provider of secure insurance data communication services. Ability has also entered into an agreement to sell the property and casualty business of IVANS to Applied Systems, a provider of insurance software. ABILITY and Applied Systems are portfolio companies of Bain Capital Ventures and Bain Capital, respectively.


peHUB First Read

Catch up on the latest private equity and venture capital-related links after the weekend which give us the lowdown on Battery Ventures’ most recent fund performance; the latest Asian private equity news and what is boosting OMERS’ returns.

Persado Raises $15M In Bain Led Deal

Persado said it raised $15 million of Series A funding in a deal led by Bain Capital Ventures. The company will use the money to expand sales and marketing efforts, increase R&D and establish a headquarters in New York City.

Billtrust Merges with Best Practice Systems

Billtrust, an 11-year-old outsourced billing company based in Hamilton, N.J., has merged with Best Practice Systems, an Engelwood, Colo.-based billing company. Terms of the deal were not disclosed, but notably, Billtrust raised a $25 million round from Bain Capital Ventures last November with an eye toward acquiring “one to two” companies per year, as Billtrust CEO Flint Lane told peHUB at the time.

Telefonica Digital Acquires Video Platform Company TokBox

Telefonica Digital, a global business division of telecoms giant Telefónica, has acquired the San Francisco-based  video communications platform TokBox for undisclosed terms. Five-year-old TokBox had raised $26 million from investors, including Bain Capital Ventures, Sequoia Capital, and DAG Ventures. PRESS RELEASE: Telefonica Digital today announced its acquisition of TokBox, the leading video communications platform. The acquisition […]

BloomReach Secures Series C led by New Enterprise Associates

BloomReach, a creator of big data marketing applications, has secured $25 million in Series C funding, led by New Enterprise Associates. Existing investors including Lightspeed Venture Partners and Bain Capital Ventures, also participated in the third round, bringing BloomReach’s total funding to $41 million to date. BloomReach is headquartered in Mountain View, CA.

Rapid7 Acquires Mobilisafe

Rapid7, a provider of security risk management solutions, has acquired Mobilisafe, a Seattle-based mobile risk management provider. Rapid7 is backed by Bain Capital Ventures and Technology Crossover Ventures.

Bluestream Brands Boosts Credit Line

Bluestream Brands, the Minnesota-based multi-label retailer, boosted its credit facility by an additional $50 million, the company announced. It brings the company’s maximum borrowing capacity to $340 million. Lenders included Goldman Sachs, JPMorgan, Deutsche Bank, The Royal Bank of Scotland and PNC Bank National Association. Backers of the company included Bain Capital Ventures and Battery […]

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