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VC-backed MobileIron files for IPO

MobileIron said Monday that it has filed for an IPO. The number of shares that will be sold as well as the stock’s pricing terms have yet to be set. Morgan Stanley and Goldman Sachs will serve as lead underwriters. Based in Mountain View, Calif., MobileIron is a provider of mobile IT security and management for apps, content and devices. Its backers include Institutional Venture Partners, Foundation Capital, Norwest Venture Partners and Sequoia Capital.

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Top security investors include unexpected names — VCJ

Security investing continues to run at high throttle, affiliated publication VCJ reports. Overall venture dollars committed to security startups dipped slightly last year, but still broke the $1 billion mark, according to data from Thomson Reuters.

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Fretting about the Series B crunch

In the latest VCJ cover story, we look at how the Series B shortfall could pack a bigger punch than the Series A. Think down rounds, bridging and slower innovation.

Color them excited, VCs back Madison Reed

Madison Reed, a San Francisco-based maker of a hair-coloring product, has raised $12 million in a Series B round of funding. Norwest Venture Partners led the financing, with previous investors True Ventures and Maveron joining the round. As part of the round, Norwest Managing Partner Jeff Crowe has joined the board. The company has now raised about $16 million in total capital. Madison Reed was co-founded in April 2013 by Amy Errett, a former GP with Maveron and now a special advisor to True Ventures. She told peHUB that the funding will be used to help the 30-employee company expand and move to larger digs in the city.

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Venture-backed M&A activity shows encouraging signs

In the third quarter, venture-backed M&A activity remained soft, with 107 deals reported, compared to 125 for the same period a year ago. Likewise, the first three quarters of 2013 saw just 286 VC-backed deals with disclosed valuations, well off the 362 transactions for the same period in 2012.

VC-backed cloud network services provider Virtela sells for $525 mln

Venture-backed Virtela Technology Services Inc. announced it has been acquired by NTT Communications Corp. for $525 million in cash. Virtela, which provides cloud network services, had previously raised $65 million in venture funding from Norwest Venture Partners, New Enterprise Associates, Newton Technology Partners and a number of other investors, according to data from Thomson Reuters (publisher of peHUB). Norwest led all the rounds in Virtela, which was founded in 2000 and incubated at Norwest’s office in Palo Alto, Calif. Promod Haque, senior managing partner at Norwest, currently serves as chairman of Virtela, which is based in Greenwood Village, Colo.

Comcast Ventures leads SundaySky’s Series C

SundaySky, which provides video advertising services, has raised $20 million in a Series C investment round that was led by Comcast Ventures. Others in the round include Liberty Global Ventures, Vintage Investment Partners and existing investors Carmel Ventures, Globespan Capital Partners and Norwest Venture Partners. The company previously raised $17 million in funding, including a $9 million Series B round in 2010. As part of the recent round, Andrew Cleland, managing director of Comcast Ventures, has joined the board.

BASIS Science secures further Series B funds

BASIS Science has raised a further $11.75 million in Series B funding. The round included investments from Intel Capital, iNovia Capital, Dolby Family Trust, Stanford University and Peninsula-KCG. Existing investors Mayfield Fund, DCM and Norwest Venture Partners, also participated. This new investment represents the close of the Basis Series B financing, which now totals over $23 million.

FireEye Files To Go Public

FireEye Inc. said it filed with the Securities and Exchange Commission to go public, though it has not disclosed the number of shares it will sell or their anticipated price range. The company is backed by Sequoia Capital, Norwest Venture Partners, DAG Ventures, JAFCO Technology Partners and SVB Financial Group.

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High Valuations May Be Bad for Your Business…And Your Ulcer

With a handful of major technology disruptions sparking infectious excitement across venture, several key fundamentals are worth paying attention to including: don’t accept too high a valuation. I was reminded of this by Saad Shahzad, who has been around the venture capital block a few times. Here is what he has to say.

Workspot Raises $1.9M From Kleiner, Norwest, Redpoint, Others

Workspot said it raised $1.9 million of seed funding from Kleiner Perkins Caufield & Byers, Norwest Venture Partners, Redpoint Ventures, and angel investors, including Peter Wagner and Gaurav Garg. The company also launched a bring-your-own-mobile-device service for IT administrators, Workspot Control, and a mobile application for IPads, called Workspot.

Reuters – SundaySky’s Personalised Videos Boost Sales Threefold

U.S.-Israeli company SundaySky expects its sales to triple annually as companies increasingly use personalised videos to win over new customers and retain existing ones, writes Reuters. Founded in 2007 in Israel, SundaySky is headquartered in New York and has raised over $17 million from Carmel Ventures, Norwest Venture Partners and Globespan Capital.

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