BURLINGTON, MA — Phonetic Systems Ltd., developer of voice-driven access systems to large dynamic data sources, has secured $37.5 million in financing led by General Atlantic Partners, LLC, the world’s largest private equity firm with an exclusive focus on IT, Internet and Internet-enabled businesses. Also participating in the round are Sonera Media Holding B.V., and SBC Communications Inc., and the Aurec Group through their joint investment company, Aurum SBC Ventures. Other investors include Polaris Venture Capital, Magnum Communications Fund, Formula Ventures, Evergreen Partners Management Ltd., and Sadot Research & Development Fund Ltd.
FOUNTAIN HILLS, AZ — A donation to the Red Cross may help businesses get in the black. Entrepreneurs looking for venture capital can receive a free list of nearly 1,000 venture capital companies just by making a monetary donation of any amount to the American Red Cross from Valentine’s Day, February 14th, until February 28th, 2001. The Capital Connection: The Entrepreneur’s Resource For Finance (Capital-Connection.com) will e-mail Red Cross donors a comprehensive list, organized by state, of both venture capital companies and Small Business Investment Companies. Donors can make a secure donation online by credit card at the American Red Cross website: https://www.redcross.org/donate/donation-form.asp. Donors can also choose to have a contribution go to the National Disaster Relief Fund, International Response Fund, or your local American Red Cross organization.
WALTHAM, MA –GiantLoop Network Inc., the leader in Enterprise Optical Networking services, today announced that it raised $120 million in Series C funding from venture firms, strategic partners, and leading technology companies. GiantLoop has raised a cumulative total of $160 million in the 10 months since its inception. GiantLoop will use its Series C funding to continue enhancing its customer-facing engineering, professional services, and deployment groups, and extend its Operational Support System (OSS), Network Control Center, and software development capabilities. Some of the participants in the Series C investment were Greylock Partners, Pilot House Ventures and Roger Marino (one of the founders of EMC Corporation). Also participating in this round were Nortel Networks [NYSE/TSE: NT], 360networks (NASDAQ: TSIX and TSE: TSX), Sycamore Networks, Inc. (NASDAQ: SCMR), Cabletron Systems (NYSE: CS) and CNT (Nasdaq: CMNT).
MALBOROUGH, MA — ThinkEngine Networks Inc., the first and leading developer of high-density, converged media servers, today announced it has raised $15 million in first-round funding. Leading venture capital firms VantagePoint Venture Partners and Prism Venture Partners co-led the investment. The capital will be used to accelerate ThinkEngine’s design and development efforts, as well as expand research and marketing initiatives.
WEST CONSHOHOCKEN, PA— Rosemont Partners I, L.P. announced today that it completed an investment in Alpha Strategies, LLC. Alpha works with investment management firms and sophisticated plan sponsors that have “in-house” investment capabilities to develop quantitative return-forecasting models and innovative investment strategies that generate performance in excess of a given benchmark.
SEATTLE — Talisma Corp. — full-service provider of powerful and easy-to-use electronic customer relationship management (eCRM) solutions — today announced completion of the first closing of Series B, private equity financing, totaling $12.3 million. Oak Investment Partners led the funding, with participation from Madrona Venture Group, SeaPoint Ventures and Cedar Grove Investments.
NEWPORT, RI — Bluestreak, a leading online advertising technology company, announced today that it completed its second venture round of institutional financing first announced in October, 2000. AOL Time Warner has completed the round, which includes previous investors StarVest Partners, L.P., CIT Venture Capital, Lazard Technology Partners and Zero Stage Capital.
SAN FRANCISCO & ANDOVER, MA — CMGI, Inc. (Nasdaq: CMGI), a leading global Internet operating and development company, today announced the sale of a majority interest in Signatures SNI, Inc., parent of Signatures Network, to the Signatures management team. Signatures Network is the music industry’s leading merchandising and licensing company. Under the terms of the transaction, the current management team, led by Dell Furano, founder and CEO and Don Hunt, President and COO, will assume financial and operating control of the company; CMGI will retain a significant minority interest as well as a position on the Signatures’ Board of Directors. Additional terms of the transaction were not disclosed.