Startup offers anonymous mobile "check ins"
A Google employee holds up a mobile phone to demonstrate how the new Goggles application recognises Big Ben as seen from Westminster Bridge in central London December 7, 2009.
Credit: Reuters/Andrew Winning
SAN FRANCISCO (Private Equity Week) - With "checking in" becoming a part of the vernacular for smart phone users, BlockChalk is betting that an anonymous check in will be the way to go for many.
San Francisco, California-based BlockChalk, which has raised $1 million in seed stage funding from Battery Ventures, Harrison Metal, Founder Collective and individual investors, allows users to post anonymous location-based messages, which it calls "chalks," on their mobile phones.
The anonymous approach is different than other location-based social networking companies, such as Foursquare and Gowalla, which has concerned some privacy advocates because the apps display a user's physical location. BlockChalk said each of its messages is pinned to a specific location, block or neighborhood, which other people using the app can see when they are nearby.
"People are already using it to ask, answer, praise, gripe, report, prevent, borrow, trade, and much more. It's easy and free: you don't even have to sign up," according to the company's website.
The company was created by Stephen Hood, the former product team lead for Del.icio.us, and Dave Baggeroer of Stanford's Institute of Design.
The startup was one of several early stage tech companies to raise VC funding in the last week. A select list of other startups to raise capital includes the following:
BIOTECH
Ablexis
San Francisco, CA
Amount/Round: $12 million/Series A
Investors: Third Rock Ventures (led) and Pfizer Venture Investments
Details: Develops a platform for antibody drug discovery. The company was founded in December 2009 and is based on technology established by Aliva Biopharmaceuticals.
CLEANTECH
Energate
Ottawa, Canada
Amount/Round: $7 million/Series B
Investors: Cycle Capital Fund (led), Ontario Emerging Technology Fund
Details: Develops demand response and home energy management solutions.
CONSUMER INTERNET
BlockChalk
San Francisco, CA
Amount/Round: $1 million/seed stage
Investors: Battery Ventures, Harrison Metal, Founder Collective and individual investors Mitch Kapor, David Liu, Joshua Schachter, Josh Stylman and Tom McInerney
Details: Operates an anonymous location-based social networking service.
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RealDirect
New York, NY
Amount/Round: NA/seed stage
Investors: Greenhill SAVP (led) and individual investors Scott Kurnit (from About.com founder), Barry Silbert (SecondMarket), Jonah Neuman (Medley Realty) and Jacob Pechenik (YellowJacket)
Details: Operates an online marketing platform for homeowners looking to sell. Brian Hirsch, managing director of Greenhill SAVP, has joined the board.
ENTERTAINMENT
The Mother Co.
Los Angeles, CA
Amount/Round: $450,000/Series A
Investors: Individual investors
Details: Develops children's entertainment, including DVDs, iPhone apps, books and related products.
GAMING
Ogmento Inc.
New York, NY
Amount/Round: $3.5 million/Series A
Investors: Chart Venture Partners (led), CNF Investments and individual investors
Details: Develops "augmented reality" games. Matthew McCooe of Chart Venture Partners and Joe Del Guercio of CNF will join Ogmento's board. Cole Van Nice, a partner with Chart, will also join the company's management team as COO.
INTERNET
Kudzu Interactive
Atlanta, GA
Amount/Round: $7 million/Series B
Investors: Norwest Venture Partners
Details: Operates an online and mobile ordering and ecommerce solution for the casual dining takeout food market, accessible at Snapfinger.com. The company previously raised $3 million in funding. Josh Goldman and Jeff Crowe, general partners at Norwest Venture Partners, have joined the board.
MED TECH
Altura Medical Inc.
San Clemente, CA
URL NA
Amount/Round: $20 million/Series A
Investors: New Leaf Venture Partners (led), Advanced Technology Ventures and SV Life Sciences
Details: Develops devices for treating abdominal aortic aneurysms.
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SynapDx Corp.
Waltham, MA
Amount/Round: $9 million/Series A
Investors: Bain Capital Ventures, General Catalyst Partners, and North Bridge Venture Partners
Details: Provides blood-based diagnostic testing for the early detection of autism.
PHARMACEUTICALS
Heat Biologics
Miami, FL
Amount/Round: NA/Series A
Investors: Brightline Ventures
Details: Develops off-the-shelf drugs. The company's initial focus is on therapeutic vaccines to treat non small cell lung cancer. The company was launched in 2008 by Seed-One Ventures.
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Tesaro Inc.
Boston, MA
Amount/Round: $60 million/Series A
Investors: New Enterprise Associates
Details: Develops oncology pharmaceuticals. The round includes an initial $20 million call down and $40 million in capital reserves. The company was founded by former executives with MGI Pharma, which was acquired by Eisai Co. in 2008 for $3.9 billion.
SOFTWARE
Zift Solutions
Raleigh, NC
Amount/Round: $500,000/seed stage
Investors: Southern Capitol Ventures
Details: Develops software as a service technology targeting marketing campaigns. Jason Caplain from Southern Capitol has joined the board. The seed funding round could be topped off at $1.5 million. The company previously had been bootstrapped and has secured such customers as Hewlett-Packard and Red Hat. Zift co-founder and CEO Ken Romley said that Zift's financing round should take it to profitability sometime next year.
WIRELESS COMMUNICATIONS
Snaptic
San Francisco, CA
Amount/Round: $2.3 million/seed stage
Investors: Excel Venture Management and individual investors
Details: Develops note-taking and note-sharing apps for mobile devices.
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