Startup Healthrageous raises $6 million
SAN FRANCISCO (Private Equity Week) - Boston, Massachusetts-based Healthrageous last week raised $6 million in funding to help break people of unhealthy habits.
North Bridge Venture Partners led the Series A round of financing, which also included Egan-Managed Capital and Long River Ventures. CEO Rick Lee said the funding will help the startup to relocate from North Bridge's Waltham, Massachusetts-based office to a new location.
The company, previously known as HopSkipConnect, was spun out of Partners Center for Connected Health, the unit of Partners HealthCare System in Boston that studies the use of text messages and the Internet to keep people healthy outside of hospitals and other traditional health care settings.
The startup's software is designed to automatically give people personalized advice to help them reach their goals, such as losing weight, lowering blood pressure or controlling their diabetes.
The funding of Healthrageous comes as the second quarter is winding down and, according to preliminary Thomson Reuters data, VCs have thus far invested nearly $4.6 billion in 497 U.S.-based companies during the three-month period.
With more than a week to go, the preliminary data is already above the $4.3 billion that VCs invested in the second quarter of 2009, and is on pace to top the $4.8 billion invested during the first quarter.
In addition to Healthrageous, the list of startups to raise capital last week includes the following:
CLEANTECH
TerraPower
Bellevue, WA
URL NA
Amount/Round: $35 million/Series B
Investors: Charles River Ventures, Khosla Ventures and individual investors Nathan Myhrvold and Bill Gates, CTO and chairman of Microsoft, respectively
Details: Develops alternatives to nuclear energy production.
CONSUMER INTERNET
TeamSnap
Boulder, CO
Amount/Round: $700,000/Series A
Investors: eonBusiness and individual investors
Details: Provides an online events management service sports teams and other groups.
GAMING
Machinima.com
Los Angeles, CA
Amount/Round: $9 million/Series B
Investors: Redpoint Ventures
Details: Provides an online entertainment network for video gamers. The company previously raised a $3.85 million Series A round from MK Capital. Geoff Yang, a partner at Redpoint Ventures, will join the board, which includes Joi Ito, CEO of Creative Commons, Matt Coffin, founder of LowerMyBills.com.
HEALTH CARE
Healthrageous Inc.
Boston, MA
Amount/Round: $6 million/Series A
Investors: North Bridge Venture Partners (led), Egan Managed Capital and Long River Ventures.
Details: Develops personalized health technology platform that helps individuals shed bad habits. Bill Geary, from North Bridge Venture Partners, Jack Egan, from Egan Managed Capital, and Will Cowen, from Long River Ventures, have joined the board.
INTERNET MARKETING
Magnetic
New York, NY
Amount/Round: $4 million/Series A
Investors: Charles River Ventures, NYC Investment Fund, Founder Collective and individual investors Ron Conway and Roger Ehrenberg of IA Capital
Details: Operates a search data marketplace. The company has now raised $5.25 million in total funding.
PHARMACEUTICALS
Otonomy Inc.
San Diego, CA
Amount/Round: $10 million/Series A
Investors: Avalon Ventures
Details: Develops drugs to treat disorders of the inner and middle ear.
SECURITY
AlienVault
Campbell, CA
Amount/Round: $4 million/Series A
Investors: Adara Venture Partners (led), Teldat Group and Neotec
Details: Provides security information and event management solutions.
SOFTWARE
Crowdcast
San Francisco, CA
Amount/Round: $6 million/Series A
Investors: Menlo Ventures (led) and Alsop-Louie Partners
Details: Develops social business intelligence solutions. The company had raised an undisclosed amount of seed funding from Alsop-Louie.
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