February 9, 2010 / 5:48 PM / 10 years ago

Early-stage venture capital roundup

Compiled by Alastair Goldfisher

SAN FRANCISCO (Private Equity Week) - Venture capitalists continued to pour money into tech startups, according to Thomson Reuters, which tracked several young companies that raised money for their first or second rounds of funding.

Among the early-stage investors to back a company last week was SV Angel, the investment firm of noted angel investor Ron Conway.

SV Angel joined investors Emergence Capital, Charles River Ventures and Goldcrest Investment to invest $10 million in Yammer Inc. The San Francisco-based company, which has now raised $15 million in two early-stage rounds of funding, provides a Twitter-like microblogging service for business use.

Yammer was started in September 2008 by former executives and early employees of PayPal, EGroups, eBay and Tribe.

Anyone can start a Yammer network on their company’s enterprise and begin inviting colleagues free of charge. Yammer makes money when companies claim and administer those networks.

Yammer claims to be used in 60,000 businesses and organizations, although the company has not said how many of those are paid accounts.

The list of startups to raise financing last week include the following:

CLEANTECH

Coulumb Technologies Inc.

Campbell, CA

http://www.coulombtech.com

Amount/Round: $14 million/ Series B

Investors: Voyager Capital (co-led), Rho Ventures (co-led), Siemens Venture Capital and Hartford Ventures

Details: Develops recharge solutions for electric cars. The company previously raised a $3.75 million Series A round led by Estag Capital.

FINANCIAL

Fynanaz Inc.

New York, NY

http://www.fynanz.com

Amount/Round: $6.5 million/ Series A

Investors: Draper Fisher Jurvetson (co-led), DFJ Gotham (co-led), Brazos Group, Zelkova Ventures and JBR Media Ventures

Details: Operates as a financial technology company that provides private student lending platforms.

INTERNET MARKETING

Pageonce Inc.

Palo Alto, CA

http://www.pageonce.com

Amount/Round: $6.5 million/ Series A

Investors: Pitango Venture Capital

Details: Develops software solutions that helps consumers manage their online lives and marketers connect with those same consumers. The company had previously raised $3.5 million.

PHARMACEUTICALS

Flexion Therapeutics

Woburn, MA

http://www.flexiontherapeutics.com

Amount/Round: $9 million/ Series A

Investors: Pfizer Strategic Investments Group

Details: Develops drugs, including a treatment for chemotherapy. The funding brings the round total to $42 million; including a previously announced first close from Versant Ventures, 5AM Ventures and Sofinnova Ventures.

SOFTWARE

Fina Technologies Inc.

Cambridge, MA

http://www.finatechnologies.com

Amount/Round: $4.5 million/ Series A

Investors: Reed Elsevier Ventures (led) and Excel Venture Management

Details: Develops quantitative trading algorithms and business solutions for massively data-intensive applications.

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Yammer Inc.

San Francisco, CA

http://www.yammer.com

Amount/Round: $10 million/Series B

Investors: Emergence Capital (led), SV Angel, Charles River Ventures and Goldcrest Investment

Details: Provides microblogging services across an enterprise. Jason Green of Emergence and Ron Conway of SV Angel have joined the board. In the funding announcement, there was no mention of Founders Fund, which participated in the company’s $5 million Series A round.

VIDEO

UStream

Mountain View, CA

http://www.ustream.tv

Amount/Round: $20 million/ Series B

Investors: Softbank Corp

Details: Provides a video broadcast platform. The funding was at a PMV of approximately $145 million. Softbank also has the option to invest another $55 million, while UStream says it plans to expand the round via pending commitments from other investors in Asia and the United State. UStream previously raised more than $11 million from DCM Capital, Labrador Ventures and Band of Angels.

WIRELESS COMMUNICATIONS

SpiderCloud Wireless Inc.

Santa Clara, CA

http://www.spidercloud.com

Amount/Round: $25 million/Series B

Investors: Opus Capital (led), Shasta Ventures, Charles River Ventures and Matrix Partners

Details: Develops an enterprise radio access network platform for mobile operators.

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