Propeller Health fetches $14.5 mln Series B

Propeller Health said Thursday that it has closed $14.5 million in Series B funding. Safeguard Scientifics led the round with participation from return backer The Social+Capital Partnership. Also, the firm has hired Chris Hogg as COO. Propeller Health is a provider of digital health solutions for chronic respiratory disease.


Safeguard Scientifics leads $11 mln Series D funding in Transactis

Safeguard Scientifics has led an $11 million Series D funding round in Transactis, which provides electronic billing and payment solutions. Other participants in the funding round include existing investors StarVest Partners, senior management and the board. To date, Transactis has raised a total of $40 million from investors including Metamorphic Ventures, Vermont Information Processing and Harland Clarke.


Safeguard Scientifics backs WebLinc

WebLinc said Tuesday that it has closed $6 million in Series A financing from Safeguard Scientifics. Based in Philadelphia and New York, WebLinc is a commerce platform provider for online retailers.

Trice Medical nabs $11.6 mln Series B

Trice Medical has received $11.6 million in Series B funding. Safeguard Scientifics led the round with participation from other investors that included BioStar Ventures. In addition to the funding, executive chair Jeffrey F. O’Donnell Sr. will transition to chairman and CEO. Based in King of Prussia, Penn., Trice Medical is a private diagnostics firm focused on micro invasive technologies.


MediaMath nabs more than $175 mln in funding

MediaMath said Tuesday that it has closed $73.5 million in Series C funding. Spring Lake Equity Partners led the round with participation from Akamai Technologies, Safeguard Scientifics, Catalyst Investors and Observatory Capital. Also, the firm received a $105 million debt facility from Silicon Valley Bank. GCA Savvian provided financial advice in connection with the equity portion of the transaction. MediaMath is a provider of digital marketing solutions.


InfoBionic grabs $17 mln

InfoBionic said Tuesday that it has raised $17 million in Series B funding. Safeguard Scientifics led the round with participation from investors that included Mass Medical Angels, Broadview Ventures, TiE, Beta Fund, Boardwalk, Launchpad Venture Group and Keiretsu. In conjunction with the funding, Al Wiegman of Safeguard Scientifics has been added to InfoBionic’s board of directors. Based in Wayne, Penn., InfoBionic is a provider of patient monitoring solutions for chronic disease management.

Trinity leads Hoopla’s Series B

Hoopla, which develops sales performance improvement software, has raised $8 million in a Series B round of funding led by Trinity Ventures. Existing investors Safeguard Scientifics and Illuminate Ventures also participated in the round. The San Jose, Calif.-based company has now raised $10.8 million in total funding, having raised a $2.8 million Series A round in mid-2012. As part of the Series B round, Larry Orr, general partner of Trinity, has joined the board.

Medivo Raises $15 Million to Expand Health Monitoring Platform

Medivo, a New York-based online health monitoring platform, has raised $15 million in Series B financing led by the Merck Global Health Innovation Fund, with participation from existing investors Safeguard Scientifics and MentorTech Ventures. To date, the company has raised more than $22 million.

Safeguard Scientifics Names Jeffrey McGroarty as CFO

Safeguard Scientifics, the Wayne, Pa.-based investment company that focuses on growth-stage healthcare and tech companies, has promoted Jeffrey McGroaty to Senior VP and CFO. McGroaty joined the company in 2005 as a vice president and corporate controller. He succeeds Stephen Zarrilli, who was named president and CEO of Safeguard last November.

Pneuron Raises $6 Million Round, Led by Safeguard Scientifics

Safeguard Scientifics, a Wayne, Pa.-based investment company focused on technology and healthcare outfits, has provided $5 million of a new $6 million Series B round of financing raised by Pneuron Corp., a Woburn, Mass.-based company that sells large data integration software applications. Osage Venture Partners, a previous investor in Pneuron, contributed the remaining funding to the round.S

Safeguard Scientifics Announces Stephen Zarrilli as New CEO

Safeguard Scientifics, the Wayne, Pa.-based, publicly traded holding company with stakes in growth-stage life sciences and tech company, has promoted senior VP and CFO Stephen Zarrilli to the post of CE0. Zarrilli will take the reins on November 1. He succeeds Peter Boni.

Safeguard Scientifics Leads $21M Round for Putney

Specialty pharmaceutical company Putney has raised $21 million in new financing co-led by listed Safeguard Scientifics Inc. NewSpring Health Capital and other, undisclosed investors also contributed. Safeguard Scientifics put $10 million into the Series C round, which will be used to bolster sales and marketing. Portland, Maine-based Putney develops generic medicines for pets.

Advanced BioHealing Sells for $750M on Eve of IPO

You sure don’t see this every day. Advanced BioHealing announced plans for a $200 million IPO, priced its shares, heck, even declared a NYSE ticker symbol. Instead the Connecticut-based regenerative medicine company opted at the last second to sell to strategic acquirer UK-based Shire plc. The $750 million all-cash deal is a monster home run […]

Safeguard Leads a $5 Mln Round for ThingWorx

Safeguard Scientifics has led a $5 million series B funding round for ThingWorx, which has developed an application platform that designs apps to connect people, systems and devices. Wayne, Pa.-based Safeguard provides growth capital.

GE Healthcare Agrees To Buy Safeguard Scientifics Partner Company Clarient

General Electric Co.’s GE Healthcare plans to purchase all of Clarient Inc.’s common and preferred shares via a tender offer price at $5 per common share and $20 per preferred share. The proposal values Clarient at $587 million. The deal is expected to close in late 2010 or early next year. Clarient is a partner company of Wayne, Pa.-based Safeguard Scientifics, which expects net proceeds of about $145 million from the deal.

Swaptree Raises $6 Million, Names CEO

Swaptree.com, a Boston-based operator of an online swap-meet, has raised $6 million in VC funding led by Safeguard Scientifics. The company also named Jeff Bennett, former president and COO of NameMedia, as its new CEO.

Alta Partners Invests in Avid Radiopharma

Avid Radiopharmaceuticals Inc., a developer of molecular imaging products, completed the first closing of a $34.5 million Series D financing led by Alta Partners. Existing investors AllianceBernstein, Safeguard Scientifics, Pfizer Venture Investments, Lilly Ventures, RK Ventures Group, LLC and BioAdvance. Press release: Avid Radiopharmaceuticals, Inc., a leader in the development of molecular imaging products, today […]


Public VC Writedowns – An Indicator of Private Valuations?

Venture firms are all about taking their portfolio companies public, but almost always prefer to stay private themselves. That preference has probably served VCs well lately, given the carnage inflicted on few venture funds that do list shares. However, disclosures of portfolio revaluations by publicly-traded funds could be instructive of what lies ahead for private firms, […]

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