Mashery’s sale to Intel for a reported $180 million-plus appears to be a good outcome for Mashery’s venture investors, including .406 Ventures, Cisco Systems, First Round Capital, Formative Ventures, OpenView Venture Partners and SoftTech VC.
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SOASTA has added $12 million in fresh capital from existing shareholders The Entrepreneurs’ Fund, Canaan Partners, Formative Ventures and Pelion Venture Partners. The latest round brings SOASTA’s total raised to $32 million. The Entrepreneurs’ Fund led the round, “significantly” increasing its stake, says Chief Executive Tom Lounibos. “It was pro rata or a slight uptick for everyone else,” he says.
This year’s secondary market for private equity is expected to outpace last year’s, sources tell peHUB. LPs—particularly, pension funds—are doing more to get out of LBO firms and reallocate into cash, according to interviews with PE professionals and secondary transaction execs. One such pension LP is the secretive $22 billion Indiana Public Retirement System, which [...]
Eightfold Logic launched its cloud-based social writing application, InboundWriter, Monday and announced a $2 million infusion of venture capital. The Series C funding came from existing investors including Rho Canada Ventures, Castile Ventures, Formative Ventures, and The Entrepreneurs’ Fund III. This round brings the total raised to nearly $20 million.
San Jose, Calif.-based Capella Intelligent Subsystems, which makes wavelength selective switches for use in reconfigurable optical add/drop multiplexer and optical cross connects, has closed on $20 million in new financing. Black Diamond Ventures led the round. SingTel Innov8, the corporate venture arm of the SingTel Group, also contributed to the round, as did Levensohn Partners, Formative Ventures, Lucas Venture Group and Rustic Canyon Ventures. The money will be used for growth, new products and operational improvements, the company said.
Santa Clara, Calif.-based Samplify Systems Inc., a maker of semiconductors and sub-systems for medical, industrial, wireless and scientific markets, has closed on $11.2 million. The Series B round will help the company expand. Publicly traded Integrated Device Technology participated in the round, as did Charles River Ventures, Formative Ventures and publicly traded Schlumberger.
This week, one of my favorite customers of all time passed away: Neal Page. Neal had been fighting Acute Myeloid Leukemia, and a good friend of mine sent me news that he succumbed to it this past Monday – I hadn’t talked to Neal in a few years, so I was unaware of all of this. You can read about Neal here.
As I reflected on him, it got me to thinking about a situation that happened to me a few years ago.
When we were raising our most recent fund, a prospective investor was finalizing his due diligence process on us, as we were being presented to his management for approval. He had taken interest in our somewhat unique approach to apply our deep sales and marketing backgrounds to the venture side of things, and as a final step of his due diligence process, he asked to speak to 50 former customers that either my partner Brian or I served from our past.
Soasta, a provider of cloud-based testing solutions, has raised $6.4 million in Series B funding. Formative Ventures led the round, and was joined by return backers Canaan Partners and The Entrepreneurs’ Fund. PRESS RELEASE SOASTA, the leading provider of cloud-based testing solutions, today announced the successful close of $6.4 million in Series B funding. [...]