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Yuchan Lee — cofounder of the marketing software company Unica, which sold to IBM for about $480 million in 2010 — has joined the Cambridge, Mass.-based venture capital firm General Catalyst Partners as an entrepreneur in resident. Most recently, Lee served as the vice president and general manager of IBM’s Enterprise Marketing Management Group.
Cloud data management business ParElastic Corporation has raised $5.7 million in a Series A round financing led by General Catalyst Partners. The company’s existing investors including Point Judith Capital, CommonAngels and LaunchCapital also participated in the round. The Series A brings ParElastic’s total financing to $8.7 million.
General Catalyst Partners has recapped Oceans Healthcare. Financial terms were not announced. Lake Charles, La.-based Oceans is a provider of psychiatric facilities for geriatric patients. Co-Founders Jason Reed and Nick Guillory will remain as CEO and COO, respectively. The Braff Group advised Oceans Healthcare.
Social software startups providing products to businesses have been catching the eye of venture capitalists for some time. Thirty-eight of 55 companies identified by Jeremiah Owyang, a partner at the research firm Altimeter Group, received funding.
General Catalyst Partners has hired Dr. Stephen Herrod in its Palo Alto office as a partner. Herrod joins General Catalyst from VMware, a virtualization and cloud infrastructure solutions business, where he served as the company’s chief technology officer and senior vice president of research and development.
Healthy snack subscription service NatureBox has closed a $2 million round of seed funding. The investment is co-led by General Catalyst Partners and Redpoint Ventures and includes the participation of prominent individual investors.
CouchSurfing said it raised $15 million in a Series B round led by General Catalyst Partners and joined by Menlo Ventures and existing investors Benchmark Capital and Omidyar Network. The company has raised a total of $22.6 million in the past year. PRESS RELEASE CouchSurfing Raises $15 Million in Series B, Led by General Catalyst [...]
Cambridge, Mass.-based Jumptap, a startup focused on mobile advertising has appointed Frank Weishaupt as chief operating officer. The company recently raised $27.5 million in venture financing. Existing investors included General Catalyst Partners, Redpoint Ventures, Summerhill Ventures, Valhalla Partners, and WPP. New investor Keating Capital also participated in the round. PRESS RELEASE On the heels of [...]