Early stage venture roundup
SAN FRANCISCO (Private Equity Week) - Nine U.S.-based technology companies last week raised early stage financing from venture capitalists last week, according to Thomson Reuters.
The group of newly funded startups included Gist, a 1-year-old, Seattle-based startup incubated at Vulcan Capital, the venture firm created by Microsoft co-founder Paul Allen. Gist raised a $6.75 million Series A, led by the Foundry Group, with participation from Vulcan.
Gist was founded by CEO T.A. McCann, a well-known Seattle entrepreneur who also worked in Microsoft Corp.'s Exchange Server Group.
McCann was most recently an entrepreneur-in-residence at Vulcan. Before that, he was with Polaris Venture Partners. His online bio also says that he once won sailing's America's Cup and sailed around the world.
The startup, in beta testing right now, aims to integrate email on Outlook "intelligently," aggregating, organizing and prioritizing messages, links and related information about one's contacts, including from traditional news sources online and blogs. The funding comes a little more than a month after San Francisco-based rival Xobni Corp. raised late stage funding from Atomico Ventures, Baseline Ventures, Cisco Systems, First Round Capital and Khosla Ventures. Xobni has raised nearly $15 million since 2007.
Here are more details about the startups that raised early stage financing last week:
COMMUNICATIONS
Everbridge
Los Angeles, CA
www.everbridge.com
Amount/Round: $3M/Series A
Investors: ABS Ventures
Details: Develops emergency notification systems for mass calling of emergency events and incidents. The company, f.k.a. 3n Global, has now raised $9M for the Series A round.
CONSUMER INTERNET
IMShopping
Santa Clara, Calif.
www.imshopping.com
Amount/Round: $4.7M/Series A
Investors: SK Telecom
Details: Operates a Twitter-based online shopping service. Min Park and Soo-Hyuk Lee, senior vice president at SK Telecom, have joined the board.
ECOMMERCE
Onestop Internet
Los Angeles, CA
www.onestop.com
Amount/Round: $13.3M/Series A
Investors: Bessemer Venture Partners
Details: Provides outsource e-commerce services, mostly to retail brands.
Gist Inc.
Seattle, WA
www.gist.com
Amount/Round: $6.75M/Series A
Investors: Foundry Group (led), Vulcan Capital
Details: Operates an email service that provides links to news, events and blog posts. The company was initially funded by Vulcan Capital.
ENERGY
Green Energy Technologies
Akron, Ohio
www.getsmartenergy.com
Amount/Round: $2M/Series A
Investors: Roth Bros. Inc.
Details: Develops a wind turbine system installed on the rooftops of commercial and industrial power users.
HEALTH CARE
Vermedx Inc.
Burlington, Vt.
www.vermedx.com
Amount/Round: $500K/Series A
Investors: Fresh Tracks Capital
Details: Develops health care IT for the diabetes market.
MED TECH
Nittany Polymedics
State College, Penn.
URL NA
Amount/Round: $750K/seed stage
Investors: Life Sciences Greenhouse
Details: Develops polymers used in medical and dental products.
SOFTWARE
Azuki Systems
Acton, MA
www.azukisystems.com
Amount/Round: $6M/Series A
Investors: Kepha Partners, Sigma Partners
Details: Develops software for mobile devices. The funding brings the Series A round total to $12M.
Zendesk
Boston
www.zendesk.com
Amount/Round: NA/Series A
Investors: Charles River Ventures
Details: Develops software-as-a-service for help desk systems. Customers include Twitter, MSNBC.com and Rackspace Cloud.
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