Zana launches virtual Silicon Valley incubator

Zana has launched a virtual Silicon Valley incubator for entrepreneurs. Based in Palo Alto, Calif., Zana offers mentorship, dialogue with experts and peer-led coaching. Shea Tate-Di Donna, the creator of True University for True Ventures, is Zana’s founder and CEO.


WordPress parent Automattic rakes in $160 mln Series C funds

According to a post on its site authored by CEO Matt Mullenweg, Automattic, the creator of WordPress, has raised $160 million in Series C funding. Deven Parekh of Insight Ventures led the round with participation from other investors that included Chris Sacca, Endurance and True Ventures. To read Mullenweg’s announcement, visit here.


True Ventures leads seed round for Understory

Understory said Wednesday that it has closed $1.9 million in seed funding. True Ventures led the round with participation from RRE Ventures, Vegas Tech Fund, SK Ventures and Andrew C. Payne. Based in Boston, Understory is a provider of next-generation weather sensor hardware and data networks.

Runscope snags $6 mln

According to an announcement on its site, Runscope has closed $6 million in Series A funding. General Catalyst led the round with participation from True Ventures and Lerer Ventures. Dr. Steve Herrold, managing director at General Catalyst, has been added to Runscope’s board of directors. Based in San Francisco, Runscope is a provider of tools that help developers monitor APIs. To read more about the funding, visit here.

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Venture’s social media superstars: VCJ

Which venture capitalists have the most followers on Twitter, the highest Klout scores, more tweets than anyone else? Refinements in both the sites and how we use social media are increasingly turning it into a targeted marketing tool for communicating with entrepreneurs, building relationships, creating personal brands and improving portfolio company visibility.

Om Malik becomes partner at True Ventures

Om Malik, founder of the news site Gigaom and a journalist for more than 20 years, said he has become a partner at True Ventures and will give up his day-to-day reporting duties. He had previously been a venture partner at the firm. In a blog post, Malik said he will remain on the Gigaom board and write as an occasional columnist, but no longer function as a daily employee.

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.

Flint secures $6m in Series B funding

Flint Mobile has secured $6 million in new capital. The Series B round was led by Digicel, with additional funding from SVG Ventures. Previous investors True Ventures and Storm Ventures also contributed new capital as follow-on to their April 2012 investment.

Fitbit Raises $43M From Qualcomm, SAP, Softback, Foundry, True

Fitbit raised $43 million in additional funding, according to a filing with the Securities and Exchange Commission. The company, which makes fitness tracking devices, raised the money from Qualcomm Ventures, SAP Ventures, SoftBank Capital, Foundry Group and True Ventures, according to TechCrunch.

MessageMe Raises $10M From Greylock, Others

MessageMe said it raised $10 million in a deal led by Greylock Partners. The round was joined by previous investors, the company said in a blog post. The company received a seed investment in March from True Ventures, First Round Capital, Google Ventures, SV Angel, Resolut.vc, Andreessen Horowitz, Greylock and The Social+Capital Partnership. The company had previously received angel money.

Orchestrate.io Pulls in $3M Seed Deal, Led by True

True Ventures led a $3 million seed-stage funding for Orchestrate.io, a developer of a API that allows companies to add location, search, activity stream, and recommendation features to their apps. Also participating in the round are Frontline Ventures and Resonant Venture. As part of the deal, Puneet Agrawal, general partner at True Ventures, has joined the board.

Madison Color Raises $4M From True, Maveron, Angels

Madison Color said it raised $4 million of Series A funding in a round led by True Ventures and joined by Maveron LLC and angel investors. The company added True Ventures partner Jon Callaghan to its board AND will debut this fall.

Concurrent Raises $4M From True, Rembrandt

Concurrent, Inc. said it raised $4 million of Series A funding in a deal led by True Ventures and Rembrandt Venture Partners. The San Francisco company previously raised a $900,000 seed investment in August 2011. The new money will go to product development and for new hires. Concurrent also named Gary Nakamura as CEO.

MobileSpan Dials Up $2.3M, Led by True Ventures

MobileSpan has raised $2.3 million in a Series A round of funding led by True Ventures, with participation from Greylock Partners, K9 Ventures, Alchemist Accelerator and several individual investors. The company, which helps users plug their personal laptops and mobile devices into their corporate enterprise systems, says the round was oversubscribed.

It Pays to Be Nice: A Tale of Two Startups

Approximately two years ago, two startups that had yet to launch products raised more than $40 million, respectively, based almost solely on the track records of their founders. Both companies went on to stumble badly, but only one of them was pilloried for its failings.

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