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VC-backed music app Shazam scores $20 mln

According to a company spokesperson, music app developer Shazam has raised $20 million from a consortium of private investors. As a result of this new investment, Shazam’s valuation has increased to approximately $500 million. Shazam’s backers include Kleiner Perkins Caufield & Byers, Institutional Venture Partners, DN Capital and Acacia Capital Partners.

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IVP leads Series C round for General Assembly

According to a blog post on its site, General Assembly has closed $35 million in Series C funding. Institutional Venture Partners led the round with participation from investors that included GSV Capital, Rethink Education and Western Technology Investment. In addition to the funding, Todd Chaffee, general partner at IVP, will join General Assembly’s board. Based in New York City, General Assembly is a provider of educational programming and support. To read the details of the funding, visit here.

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IVP joins growing list of VCs with San Francisco offices

Institutional Venture Partners has joined a growing list of venture firms that have hung their shingles in San Francisco. “We’re seeing a ton of tech talent in the city, and if a venture firm is not set up to work with them here in San Francisco, then they’re at a disadvantage,” IVP General Partner Dennis Phelps told peHUB.

Klout reportedly acquired by Lithium for $100 mln

San Francisco-based Klout has reportedly been acquired for $100 million by Lithium Technologies. The companies have not yet announced a deal, but online publications, including re/code reported last week that the deal is closed. Klout, which measures the influence of users on social media, has raised at least $40 million in known financing since it was founded in 2008.

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Spiceworks raises $57 mln led by Goldman Sachs – Reuters

Information technology network company Spiceworks has raised $57 million in venture capital funding led by Goldman Sachs. The Austin, Texas-based company has also secured funding in the past from Austin Ventures, Shasta Ventures, Institutional Venture Partners, Adams Street Partners, and Tenaya Capital.

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Permira to take controlling stake in LegalZoom.com – Reuters

Jan 6 (Reuters) – Private equity fund manager Permira Advisers LLC is planning to take a controlling stake in LegalZoom.com, a provider of online legal documents that was going to go public, according to people familiar with the matter, affiliated news service Reuters reported.

Wedding Spot raises seed financing

Wedding Spot, an online site to help future brides and grooms search, price, and compare wedding venues, has raised $225,000 in seed funding. Investors include Internet veterans Erik Blachford (former CEO of Expedia), Eric Liaw (Institutional Venture Partners), and David Rodnitzky (Founder & CEO of 3Q Digital).

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The Honest Company, co-founded by Jessica Alba, raises $25 mln

The Honest Company, which operates site to sell natural, non-toxic products, has raised a $25 million round that was led by Institutional Venture Partners. ICONIQ Capital and existing investors Lightspeed Venture Partners and General Catalyst Partners also participated in the round. The Los Angeles-based company, co-founded by actress Jessica Alba, has now raised $52 million in financing.

IVP adds Kong to roster

Jordon Kong has joined Institutional Venture Partners as an associate, where she’ll focus on later-stage IT deals with the digital media sector. Before she joined IVP, Kong worked within the Technology, Media, and Telecom investment banking group at Barclays.

RGB partners with Conax

RGB Networks, a provider of scalable multiscreen IP video delivery solutions, has today announced its new partnership with Conax, a provider of solutions for securing multi-device and digital video content distribution. RGB Networks is backed by Accel Partners, Comcast Interactive, Focus Ventures, Granite Ventures, Institutional Venture Partners, Kleiner Perkins Caufield and Byers, and Mitsui & Co. Venture Partners.

IVP Backs Video Camera Maker Dropcam

Dropcam, maker of a high-definition Wi-Fi video camera, has raised a $30 million Series C round led by Institutional Venture Partners. Existing investors Accel Partners and Menlo Ventures also invested in the round, as did new investor Kleiner Perkins Caufield & Byers. The San Francisco-based company has now raised $47.8 million in total capital.

IVP Promotes James Newell and Andrew Barr

Institutional Venture Partners, the Menlo Park, Calif.-based later-stage venture capital firm, has promoted James Newell to Vice President and Andrew Barr to Senior Associate. Newell joined IVP in 2009 and recently completed the MBA program at Wharton. Barr, who also studied at the University of Pennsylvania, joined the firm in 2011.

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