Private Equity Week Wire for Monday 9/24

PLANO, TX — Xalted Networks Inc., a provider of
the industry’s first Universal Access Exchange (UAX) in the broadband access
market, today announced that it has closed its Series A round of financing
at $21 million. The round was led by BlueStream Ventures, Granite Ventures,
Charter Ventures and Alliance Ventures. The Company is currently in the
process of raising its Series B round, which it expects to close by the end
of the year.

NEW YORK — DWL Inc., a leading provider of enterprise customer management applications, today announced the completion of a third round of financing led by U.S.-based investors Insight Venture Partners and MMC Capital, Inc., a wholly owned subsidiary of Marsh & McLennan Companies, Inc. Insight Venture Partners and MMC Capital Technology Fund II invested US$31 million in DWL.
DWL’s enterprise customer management applications consolidate fragmented CRM, back-office and e-business systems into unified industry solutions. DWL’s enterprise applications deliver a real-time business process platform and customer integration software to create new customer-centric business processes.



SANTA CLARA, CA — Daksh eServices, a leading offshore CRM provider, announced that it has picked up a $6 million investment from Citigroup Venture Capital in its second round of financing.
Daksh, which became profitable in March 2001 at the completion of its first fiscal year, helps global businesses build exceptional customer relationships by leveraging India’s high-quality, cost-effective intellectual capital. Daksh’s unique co-sourcing model offers a range of customer interaction services across multiple channels including voice, e-mail and online chat.

OTTAWA — Espial, creator of software that powers the world of smart Internet devices, today announced it has secured US$11 million in venture capital financing.
VenGrowth Capital Partners, one of Canada’s leading venture capital firms, led this latest round, and was joined by existing investors Greylock Management Corporate LLC, a leading early-stage venture capital firm with more than $2.2 billion in committed capital under management, and Sussex Capital Inc., Michael Potter’s private investment company.

WESTBURY, NY — Bessemer Venture Partners, the nation’s original venture capital practice, today announced that J. Edmund Colloton has joined the firm as General Partner and Chief Operating Officer. He succeeds Robert H. Buescher, who is retiring as Administrative Partner after 34 years with the firm. Colloton will be based in the firm’s Westbury, N.Y. office. Buescher will hold the title of Partner Emeritus and will continue to act as a consultant to BVP for an extended period following his retirement.

Colloton comes to Bessemer with more than ten years’ experience in private equity, most recently serving as Chief Operating Officer of J.P. Morgan Capital, the private equity arm of J.P. Morgan. He was also an investor for Morgan Capital, where he focused on investing in electronic financial services companies. Prior to J.P. Morgan, Colloton was an attorney in the mergers and acquisition group at Davis Polk & Wardwell, where he specialized in private equity transactions. Prior to his private equity career, Colloton served as an officer in the U.S. Navy onboard the USS Boulder in the U.S. Atlantic fleet and as a representative for international negotiations at the Joint Chiefs of Staff. Colloton has a B.A. in economics from Cornell University and a J.D. from Harvard Law School.

WALTHAM, MA — Okena Inc., the leading developer of proactive security software, today announced that it has secured $12.4 million in a second round of funding, bringing the total raised by the company to $16.7 million. Led by GE Equity, the round includes new investors Newbury Ventures and Solstice Capital, as well as previous investors APV Technology Partners and Thomvest International Ltd. In addition, GE Equity Vice President Steve Warner, Newbury Ventures General Partner Bruce Bauer and Solstice Capital General Partner Fred Bamber have been appointed to the OKENA Board of Directors.

BURLINGTON, MA — Resinate Corp., the leading provider of product lifecycle management solutions for the discrete manufacturing industry, today announced that it has secured $4.5 million in funding as part of a $7 million Series B funding round. Resinate plans to close out the round within the next 60 days.
Zero Stage Capital, a venture capital firm focused on emerging growth companies, led the round. Resinate will use this financing to support overall company growth initiatives, including a full market roll out of its software products and services, additional staffing to support this rollout and next generation product development.

NEW YORK — eNow Inc., currently fueling a global transition to a new generation of real-time communications, announced that it has raised $9.45 million in a third round of financing led by Hudson Ventures and including Entertainment Media Ventures, Phoenix Partners, Broadband Partners and Cap Ventures.

BETHLEHEM, PA — FASTNET Corp., a leading provider of business communications solutions, including reliable dedicated Internet access, managed web hosting, colocation services and managed security, today announced the sale of Series A Preferred Stock to Edison Venture Fund and Strattech Partners.

ST. PETERSBURG, FL — ThruComm Inc., a leading integrator and provider of “always on” networking services in the Electronic Funds Transfer (EFT) marketplace, announced today that it raised $15 million of fresh capital in its Series D round of funding. Simultaneously with the closing, the holders of $14 million of subordinated debt converted to equity. The privately-held Florida corporation is leading processors, merchants and ATM network providers in their migration from slow and costly dial-up lines to fast, reliable “always on” IP connectivity as a means to conduct electronic transactions, back-office applications and data communications.
Continuation Investment Partners (CIP) and Northwood Ventures LLC led the round. Ashford Capital Management, KDI Precision Products (a division of L3 Communications), Marconi plc, Pecks Management Partners Ltd., and Penny Lane Advisors, Inc. also participated.

ACTON, MA & DELFT, NETHERLANDS — CONSUL Risk Management, a global IT security software provider, today announced a second-round injection of 11 million euros from new investors SOFTBANK Europe Ventures (SBEV) and Dresdner Kleinwort Wasserstein, along with existing investors, NeSBIC CTe Fund and Kennet Capital. This new funding will enable CONSUL to further establish itself as an innovative leader in the enterprise security audit software market by enhancing its audit and administration software product offering, as well as globally expanding the business.

BONN, GERMANY & NEW YORK — MessageVine, a leading provider of private label mobile instant messaging solutions has secured $US 6 Million from T-Venture, the venture capital arm of Deutsche Telekom, and other key international investors, as part of its first round financing. Existing investors Cedar Fund , CSK Venture Capital and Technorov Holdings renewed their commitment to funding MessageVine and talks are being held with additional potential investors.