Cebix Incorporated Inks $30.9m Series C and Appoints President and CEO

Cebix Incorporated, a biopharmaceutical company developing treatments for complications of diabetes, has secured a $30.9M Series B investment. Prior investors InterWest, Sofinnova Ventures and Thomas, McNerney & Partners all participated in the financing. The company has also appointed Dr. Joel Martin as president and CEO.

Get Satisfaction Closes $10M Series B

Get Satisfaction has closed a $10 million Series B round of funding led by Bruce Cleveland, general partner at InterWest, the company announced Wednesday. With the latest infusion, Get Satisfaction has raised a total of $21 million. The company, which develops an online community platform designed to help companies build better relationships with their customers, will use the money to continue product innovation and building distribution partnerships.

Tapjoy Scores $30M Round

Tapjoy, the mobile applications network, took $30 million from new investors advised by J.P. Morgan Asset Management and including major existing investors Rho Ventures, North Bridge Venture Partners, InterWest Partners and D.E. Shaw Ventures. It was the company’s Series D rundraising. Paul Santinelli of North Bridge, and Larry Unrein at JPMorgan each worked on the transaction. Further specifics were not publicized.

Slideshow: The Best Time for a VC Promotion

What’s the likeliest time to get a promotion at a venture capital firm? About three years after its last fund closed.

That’s what I found in my analysis of promotion announcements from U.S. venture capital firms so far this year. The sample set — drawn from 17 announcements published on PEHub — shows the largest number of promotions occurred at firms that last closed a fund in 2008. Most others last closed in 2007 or 2009.

The timing makes sense, given that most funds of that vintage are nearing the end of their most active investment period, and firms are probably starting to plan their next fund-raising effort. That makes it even more crucial to retain talented people and put in place a partnership that will see the firm through its next investment cycle.

Here we take a look at who’s been moving up the ranks this year at firms with 2008-vintage funds. We’ll also look at industry expertise and investment track records among the recently promoted.

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