190 Views

Cloud company Velostrata scores $14 mln Series A

San Jose, Calif.-based Velostrata, a provider of on-demand hybrid cloud software, has come out of stealth and announced it has raised a Series A round of $14 million from Norwest Venture Partners and 83North (formerly known as Greylock IL). As part of the funding, Dror Nahumi, partner at Norwest, and Yoram Snir, partner at 83North, have joined the board. The company also maintains R&D in Israel.

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Appriss buys The Retail Equation

Appriss Inc. said Tuesday that it has acquired The Retail Equation. Financial terms weren’t announced. Norwest Venture Partners, which had owned a majority, will reinvest in the combined company. Irvine, California-based Appriss provides predictive analytics for retail businesses. Wells Fargo Securities advised The Retail Equation.

168 Views

Advance/Newhous buys 1010data for $500 mln

Advance/Newhouse has acquired 1010data Inc. for $500 million. New York-based 1010data provides a cloud-based platform for big data discovery and data sharing. Norwest Venture Partners made a $35 million private equity investment in 1010data in 2010. BMO Capital Markets advised 1010data while Foros advised Advance. Advance/Newhouse is an affiliate of Advance Publications.

VC-backed Udemy hires two VPs

San Francisco-based online education marketplace Udemy has appointed Robert Wong as vice president of product and Grégory Boutté as vice president of content. Previously, Wong worked at Sidecar where he served as vice president of product while Boutté most recently worked as vice president of eBay Motors & Electronics for eBay North America. Udemy’s backers include Stripes Group, Norwest Venture Partners, Insight Venture Partners, Lightbank, MHS Capital and Learn Capital.

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StellaService nabs $15 mln Series C

New York City-based StellaService, a provider of customer service ratings for online retailers, has secured $15 million in Series C funding. Comcast Ventures led the round with participation from Novel TMT, Toba Capital, Battery Ventures, Gotham Ventures, RRE Ventures and Norwest Venture Partners. 

386 Views

Adaptive Insights raises $75 mln in late-stage round

Palo Alto, Calif.-base Adaptive Insights announced it has raised $75 million in a Series G round of funding from new investor JMI Equity, along with existing investors Norwest Venture Partners, ONSET Ventures, Bessemer Venture Partners, Cardinal Venture Capital, Monitor Ventures and Information Venture Partners. The company has now raised more than $176 million in total funding, including a $45 million round two years ago.

417 Views

IVP, Leonardo DiCaprio, Adam Levine and others back sleep startup Casper

New York City-based mattress maker Casper has raised $55 million in Series B funding. Institutional Venture Partners led the round with participation from other investors that included Leonardo DiCaprio, Tobey Maguire, Adam Levine, Scooter Braun, Pritzker Group Venture Capital, New Enterprise Associates, Lerer Hippeau Ventures and Norwest Venture Partners. In conjunction with the funding, Dennis Phelps of IVP has been named a board observer.

169 Views

Personali snags $12 mln Series B

New York City-based Personali, an incentives personalization platform for online retailers, has secured $12 million in Series B funding. Norwest Venture Partners led the round with participation from other investors that included Cedar Fund and Gemini Venture Partners. In addition to the funding, Dror Nahumi, a general partner at Norwest, has been appointed to Personali’s board of directors.

162 Views

Stripes Group leads Series D round for Udemy

San Francisco-based online education marketplace Udemy has secured $65 million in Series D funding. Stripes Group led the round with participation from Norwest Venture Partners and Insight Venture Partners. In conjunction with the funding, Ken Fox, a founder and managing partner of Stripes Group, has been added to Udemy’s board of directors.

Security company ClearDATA raises $25 mln

Phoenix-based ClearDATA, a provider of security services for the healthcare industry, announced it has raised an over-subscribed $25 million Series C round of funding. Investors include Heritage Group, HLM Venture Partners and Flare Capital Partners, along with existing investors Norwest Venture Partners, Merck Global Health Innovation Fund and Excel Venture Management. The company has now raised $42.4 million to date.

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HP acquires NVP-backed ConteXtream

HP has acquired ConteXtream, the former announced today on its site. No financial terms were disclosed. Based in Mountain View, California, ConteXtream is a provider of carrier-SDN solutions. ConteXtream was backed by Norwest Venture Partners. To read the post, visit here.

193 Views

Drone platform provider Skyward announces $4.1 mln seed expansion

SkyWard, a Portland, Ore.-based company that has developed a software management system for the dispatching, tracking and logging of commercial drone flights, announced it has raised a $4.1 million round in expansion seed from Draper Associates, Founders Co-Op, Norwest Venture Partners, Techstars Ventures, Verizon Ventures, and Voyager Capital. Voyager prevously led a $1.5 million seed round in July 2014, according to Thomson Reuters. David Famolari of Verizon Ventures and Ari Newman of Techstars Ventures were named observers on Skyward’s board of directors.

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Bessemer leads $30 mln funding of on-demand valet provider ZIRX

ZIRX, a provider of on-demand valet and related car services, said today it has closed its $30 million Series B financing led by Bessemer Venture Partners. Existing investors Norwest Venture Partners and Trinity Ventures also participated in the round. The San Francisco-based company has now raised $36.4 million in total funding, following a $6.4 million Series A round last September. The company has operations in San Francisco, Los Angeles, Seattle and Washington, D.C.

688 Views

Norwest Venture Partners buys WineAccess

Norwest Venture Partners has acquired WineAccess Inc. Financial terms weren’t announced. Jim Weinrott, WineAccess’ founder and CEO, will maintain a meaningful stake. WineAccess is a direct-to-consumer wine ecommerce company. Sanjay Chadda, Matthew Kratter and Michael Petsky of Petsky Prunier provided financial advice to WineAccess.

157 Views

August Capital leads $17 mln funding of cloud security provider Palerra

Cloud security company Palerra announced it has raised $17 million in Series B funding led by new investor August Capital. Current investors Norwest Venture Partners, Wing Venture Capital and Engineering Capital also participated in the round. Palerra (formerly known as Apprity) emerged from stealth last November and has now raised $25 million in total funding. As part of the Series B funding, Vivek Mehra, general partner at August Capital, has joined the board.

Software developer Apigee Corp files for IPO-Reuters

Apigee Corp, a developer of software to manage Web applications, has filed with U.S. regulators for an initial public offering, looking to take advantage of interest in companies that offer Internet-related services, Reuters reported.

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