OrbiMed leads $40 mln round for Inspire Medical Systems

Inspire Medical Systems said Thursday that it has closed $40 million in Series E financing. OrbiMed led the round with participation from Johnson & Johnson Development Corp, Aperture Venture Partners, Kleiner Perkins Caufield & Byers, US Venture Partners, Synergy Life Science Partners, Medtronic, GDN Holdings and TGap Ventures. In addition to the funding, OrbiMed’s Chau Q. Khuong has been added to Inspire Medical Systems’ board of directors. Based in Minneapolis, Inspire Medical Systems is a maker of of an implanted device that treats a subset of patients with obstructive sleep apnea.

Electric Cloud grabs $4 mln

Electric Cloud said Tuesday that it has received an additional $4 million in Series E funding, bringing the round’s total tally to $12 million. The investors included Siemens’ Venture Capital, US Venture Partners, Mayfield Fund, RRE Ventures and Rembrandt Venture Partners. Headquartered in Sunnyvale, Calif., Electric Cloud is a provider of software solutions.

Act-On Software bags $42 mln

Act-On Software has raised $42 million in funding. Technology Crossover Ventures led the round with participation from previous backers Norwest Venture Partners, Trinity Ventures, US Venture Partners and Voyager Capital. Act-On Software is a provider of marketing automation solutions for small to mid-market enterprises.

Sequent Medical rakes in $20 mln

Sequent Medical said Tuesday that it has received $20 million in Series D financing. Previous backer Delphi Ventures led the round with participation from Domain Associates, US Venture Partners and Versant Ventures. Headquartered in Aliso Viejo, Calif., Sequent Medical is a medical-device company focused on catheter-based neurovascular technologies.

Xirrus Closes Series Funding on $23.5m

Xirrus, a Wi-Fi device maker based in Thousand Oaks, Calif, has closed a $23.5 million Series E financing round. The funding was led by existing investors August Capital, Canaan Partners, InterWest Partners, QuestMark Partners, and US Venture Partners.

MaxLinear Repurchases Shares From Venture Capital Investors

MaxLinear, a provider of integrated radio frequency and mixed-signal integrated circuits for broadband communication applications, has repurchased 1,152,338 shares of its Class A common stock from Mission Ventures and 500,000 shares of its Class B common stock from various funds affiliated with US Venture Partners. Following the repurchase, Mission Ventures will no longer hold any […]

HotelTonight Checks Into a $23M C Round

US Venture Partners led a $23 million round in HotelTonight, the last-minute mobile hotel booking app. Accel Partners, Battery Ventures and First Round Capital also joined in on the round. The financing brings HotelTonight’s total funding to more than $35 million. Rick Lewis, a GP with USVP, will also be joining the company’s board as […]

ThreatMetrix Raises Fourth Round

Cybercrime prevention company ThreatMetrix has raised an $18 million fourth round of funding led by August Capital, according to VentureBeat. The company received a $12.1 million third round of funding in 2010 and in total has raised around $42.1 million. Investors include US Venture Partners, August Capital, Tenaya Capital, and CM Capital. The company recently […]

Sequent Medical Closes $26M Series C

Sequent Medical Inc., a developer of neurovascular medical devices, has raised $26 million in a Series C round led by Delphi Ventures. Existing investors Versant Ventures, US Venture Partners and Domain Associates also participated. James Bochnowski of Delphi Ventures will join Sequent Medical’s Board of Directors. PRESS RELEASE Sequent Medical, Inc. announced today that it […]

Top 10 Posts Feature Hot IPO Prospects, Fund Performance and Promotions at Carlyle and TA

The big news today is that Facebook is reportedly planning to register to go public next week. It should come as no surprise, then, that our most popular post this week was about this year’s prime IPO candidates. Other hot topics included the above-average performance of the San Francisco Employees’ Retirement System’s PE portfolio, a surge in VC investing and promotions at Carlyle and TA Associates. Here are the top 10 posts peHUB’s regular readers found most compelling from Jan. 23 to Jan. 27

1. Slideshow: Bring on the 2012 IPO Candidatesby Joanna Glasner
2. Scorecard: San Francisco Builds A Winning PE Portfolioby David Toll
3. Venture Investing Rebounds In 2011 With Early Stage Leaping To A 10 Year High: Slideshowby Mark Boslet
4. Aydin Senkut Recalls a Game of Pool with Aaron Levie Led Him to Milo.com: PHOTOSby Alastair Goldfisher
5. Slideshow: Smart Grid, Smart Play?by Jonathan Marino
6. TA Associates Promotes Eightby peHUB staff
7. Carlyle Promotes 41 Execsby peHUB staff
8. Global PE M&A Does Well in 2011by Angela Sormani
9. TransDigm Group Acquires AmSafe Globalby peHUB staff
10. Battery, Bay and USVP Could See 22x Return from Guidewire IPOby Lawrence Aragon

Battery, Bay and USVP Could See 22x Return from Guidewire IPO

Battery Ventures, Bay Partners and U.S. Venture Partners hit a grand slam with today’s IPO of Guidewire Software Inc., which makes software for insurance companies. As a group, the three venture firms hold about 25 million shares valued at about $428 million at today’s closing price of $17.12. The firms invested a modest $19.5 million […]

OncoMed Promotes

OncoMed Pharmaceuticals, a clinical-stage company developing therapeutics that target cancer stem cells, has promoted Jakob Dupont, formerly vice president, clinical research to senior vice president and chief medical officer. Privately-held, OncoMed’s investors include US Venture Partners, Latterell Venture Partners, The Vertical Group, Morgenthaler Ventures, Phase4 Ventures, Delphi Ventures, Adams Street Partners, De Novo Ventures, Bay […]

Liddle Joins SRI Board of Directors

David Liddle has been elected to the board of directors of nonprofit research and development organization SRI International. Liddle is also a partner at US Venture Partners, a Silicon Valley venture capital firm, where he focuses primarily on mobile and wireless semiconductor and software companies. PRESS RELEASE David Liddle has been elected to SRI International’s […]

Takeda Pharmaceutical Buys VC-Backed Intellikine

Takeda Pharmaceutical Company, a listed, Japanese pharmaceutical research company, is buying venture-backed Intellikine Inc. Takeda will pay $190 million in cash, and up to $120 million in additional milestone payments. Intellikine was backed by at least $41 million from venture investors including Abingworth, BiogenIdec, CMEA Capital, Fintech Global Capital, Novartis Venture Funds, Sofinnova Ventures and U.S. Venture Partners.

PlaceIQ Raises $4.2M From US Venture Partners, Valhalla, Others

PlaceIQ said it raised $4.2 million of Series A funding in a round with new investors U.S. Venture Partners and Valhalla Partners, and existing investors IA Ventures, kbs+p ventures, and angel investor Jerry Neumann. The ad targeting company moved from Boulder, Colo., to New York City. The company confirmed the news by tweeting the following […]

Get Satisfaction and Smartling Announce Product Integration

Online community platform Get Satisfaction and online business service provider Smartling have announced a product integration and joint effort to help businesses create global community portals in the customers’ preferred languages. Get Satisfaction communities are available in Dutch, English, French, German, Italian, Portuguese, Spanish and Swedish, powered by the Smartling translation platform and delivery network. […]

LivingSocial Inks $176M of Planned $400M

Daily deal company LivingSocial disclosed in a regulatory filing Wednesday that it has raised $176 million in new financing, with plans to raise a total of $400 million. Reuters, citing an unnamed source, reported that the new financing “doubles the valuation of the daily deals service from its last fundraising round in April.” LivingSocial was planning to go public earlier this year in an IPO that may have raised about $1 billion at a valuation of $10 billion to $15 billion. In the summer, the company picked Bank of America Merrill Lynch, JP Morgan and Deutsche Bank to lead-underwrite the IPO, Reuters wrote. The company’s venture investors include Lightspeed Venture Partners, US Venture Partners and Grotech Ventures.

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