San Francisco-based car-sharing start-up Uber has raised $1.2 billion in funding, CEO Travis Kalanick announced in a blog post on the company’s site.
Modernizing Medicine, an electronic medical record system provider, has raised about $15 million in funding. Summit Partners and Pentland Group led the round.
Progress Software Corp. has agreed to buy Telerik AD, which is backed by Summit Partners, for $262.5 million.
Berkshire Partners has acquired a majority interest in Access Information Management. Financial terms weren’t announced. Summit Partners is the seller. Access Information provides records and information management services in North America. Robert W. Baird & Co. provided financial advice to Access.
The growth equity portfolio at the Hawaii Employees’ Retirement System is an eclectic mix of small-scale later stage funds and massive multi-billion capital pools with a broad, balanced approach. Results are reasonably good.
RuffaloCODY, which is backed by Summit Partners, has acquired Noel-Levitz. No financial terms were disclosed. Lazard Middle Market served as advisor to RuffaloCODY on this transaction. Based in Iowa and Colorado, Noel-Levitz is a consulting firm that specializes in higher education strategic enrollment planning, student marketing and recruitment.
ABILITY Network has hired Robert Barbieri as chief financial officer. Previously, Barbieri worked at Converge One where he served as a CFO. Headquartered in Minneapolis, ABILITY Network is a healthcare tech firms. Its backers include Summit Partners, Lemhi Ventures and Bain Capital Ventures.
Apax Partners is buying Answers Corp., parent of Answers.com, from Summit Partners and TA Associates.
The Pennsylvania Public School Employees’ Retirement System favored late-stage managers, dodged brand name funds, pledged money inconsistently and is struggling with the returns on its venture investments, affillate magazine Venture Capital Journal reports.
Thoma Bravo said Monday that it has closed its buy of Sparta Systems. No financial terms were disclosed. Summit Partners and Altaris Capital Partners were the sellers. Lazard was the financial adviser on the transaction. Headquartered in Hamilton, NJ, Sparta Systems is a provider of enterprise quality management solutions.
The Public Employees’ Retirement System of Nevada has stepped up its venture capital investing over the past couple of years with commitments to Battery Ventures, Canaan Partners and Technology Crossover Ventures.
Summit Partners has backed Independent Vetcare Holdings. Run by and for vets, IVC was formed in 2011 and is a UK-based private veterinary group.
Ares Management has agreed to acquire the parent company of National Veterinary Associates, a private owner of independent freestanding veterinary hospitals in the U.S. Ares will acquire the business from Summit Partners. NVA’s senior management will retain a minority stake in the company. Terms of the deal were not disclosed. It is expected to close in the third quarter.
The Texas County and District Retirement System has stepped up its commitment to venture capital over the past couple of years with a strategy that favors large and mid-sized funds, affiliate magazine Venture Capital Journal reports.
Summit Partners has closed $1 billion for its second credit fund. The target was $750 million. The fund’s LPs include public and private pension plans, insurance companies, funds of funds, family offices, endowments and foundations.
Thoma Bravo has agreed to acquire Sparta Systems from Summit Partners and Altaris Capital Partners. No financial terms were disclosed for the transaction, which is expected to be completed in the third quarter of this year. Lazard was financial advisor to Sparta Systems. Headquartered in Hamilton, NJ, Sparta Systems is a provider of enterprise quality management solutions.
MDVIP, which is owned by Summit Partners, has appointed Bret Jorgensen as executive chairman of the board. Previously, Jorgensen served as chairman to Diversinet. Based in Boca Raton, Florida, MDVIP is a personalized healthcare network.
Adams Street Partners has led a $25.5 million Series C funding round in Visier, a platform that provides workforce analytics and planning solutions in the cloud. Existing investors Foundation Capital and Summit Partners participated in the funding round. The majority of the capital, $24 million, was sourced from investors, while $1.5 million came from friends and family. Visier also recently announced the appointment of Adam Binnie, previously senior vice president, emerging products at SAP, as head of new markets and innovation.