Sonian said it raised $13.6 million in a Series C funding led by OpenView Venture Partners and joined by existing investors Summerhill Venture Partners and Prism VentureWorks. The company, which is developeing a cloud-based archiving service, has now raised nearly $27 million. PRESS RELEASE Sonian Secures $13.6 Million in Series C Funding to Simplify Cloud [...]
You are browsing the archive for Prism VentureWorks - peHUB.
Lifecrowd, the social activities discovery site, has tagged on $5 million more to help boost the company’s online marketplace. Chicago-based investment fund Lightbank led the investment and will get a board seat as part of the transaction. Other backers include Bullpen Capital, Baroda Ventures, Prism VentureWorks and MuckerLab. PRESS RELEASE: SANTA MONICA, Calif., April 19, [...]
(Reuters) – Zeltiq Aesthetics Inc., a venture-backed company that uses a patented cooling technology to eliminate fat bulges, has filed with U.S. regulators to raise up to $115 million in an initial public offering. The company has raised $104.3 million in venture capital since 2005 from Advanced Technology Ventures (ATV), Aisling Capital, Frazier Healthcare and [...]
Waltham, Mass.-based Avedro Inc. has closed on $25 million Series C financing. SCP Vitalife led the round along with Aperture Venture Partners. Existing investors Prism VentureWorks, De Novo Ventures, Flagship Ventures, Borealis Ventures and Echelon Ventures also participated in the round. The company, a developer of systems and procedures for biomechanically strengthening and modifying the cornea, plans to use the funding to expand its commercial operation outside the U.S. As a result of the round, Jeff Dykan of SCP Vitalife will join the Avedro board. Eric Sillman of Aperture Venture Partners joins as an observer.
Will Kohler is leaving Prism VentureWorks after a six-year run, in order to join the Boston office of Summerhill Venture Partners as a partner. He informed his portfolio company CEOs of the move last week, and plans to begin at Summerhill in late February.
While with Prism, Kohler has led or co-led investments in such companies as Sonian, The Receivables Exchange, Conduit Labs, Six Degrees Games, Sparkplay Media and ExpoTV.
“We’re happy for Will, because he gets to become a general partner,” says Prism partner Woody Benson. “But we’re obviously sad to see him go.”
Nye was working out of his home office in Southern California after his East Coast firm, Prism VentureWorks in Needham, suspended efforts to raise its sixth fund and closed its office in Venice.
He supported Prism’s decision as being best for the business and said he could have stayed on — Prism is still deploying the rest of its fifth fund. But, he said, “the prospect of being a satellite in a home office with a partnership that needs to be face-to-face, serving its portfolio, was not a setup that I thought was great for either group.”
Also, “the (venture) industry is at a challenging precipice. My happiest professional days were as an operating person, I was told by my wife.”
Gordie Nye has been named CEO of Zeltiq Aesthetics, a Pleasanton, Calif.-based developer of non-invasive procedures for the reduction of unwanted fat tissue. He had been a general partner with Prism Venture Partners for the past six years, and will remain a director with some of its portfolio companies. peHUB reported last month that Prism had shut down the Southern California office which Nye ran.
Mark Canha has quietly joined Avaya as vice president of worldwide strategy. We had reported back in February that Canha was stepping down as an operating partner with Prism VentureWorks, but we didn’t know his next stop. Prior to joining Prism, Canha had served as vice president of broadband services for optical networking company Broadwing. [...]
Prism VentureWorks has closed its West Coast office, several months after the Needham, Mass.-based firm suspended efforts to raise its sixth fund.
Prism originally opened the Venice, Calif.-based satellite to accomodate partner Gordie Nye, who wanted to move west. He will continue to serve as a general partner with Prism, but will be based out of a home office. Venture partner Tony Natale will relocate east, while principal Bong Koh will spend most of his time on
Lost in the shuffle of the July 4th holiday, the LogMeIn IPO produced one of the biggest returns for VCs this year—at least on paper.
Mind you, there have only been six VC-backed IPOs so far. But still…
LogMeIn (Nasdaq: LOGM) priced at $16 on July 1 and shot up to $20.02 by the end of the trading day. That was the second best debut of a VC-backed offering this year, behind only restaurant reservation service OpenTable (Nasdaq: OPEN), which rose over 59% on its first day.
Following the IPO, five venture firms collectively held 10.8 million shares worth over $209 million at yesterday’s closing price $19.32. In addition, three of the VCs sold shares in the IPO for proceeds of more than $21 million.