Week in deals, Dec. 3, 2007


BIND Biosciences Inc.

Cambridge, Mass.


Amount/Round: $16M/B

Investors: ARCH Ventures, NanoDimension, Flagship Ventures, Polaris Venture Partners.

Details: Develops smart therapeutic targeted nano-particles capable of delivering controlled drug release to diseased tissue. In January 2007, the company raised a $2.5M Series A round from Polaris and Flagship.

Clarus Therapeutics Inc.

Northbrook, Ill.


Amount/Round: $8M/C

Investors: H.I.G. Ventures (led), Thomas, McNerney & Partners.

Details: Develops an oral testosterone replacement drug. The company has now raised more than $12M in total funding. Bruce Robertson and Michael Wasserman of H.I.G. Ventures have joined the board.

SGX Pharmaceuticals Inc.

San Diego


Amount/Round: $25M/PIPE

Investors: OrbiMed Advisors, Great Point Partners.

Details: Develops cancer-fighting drugs. The company had raised about $100M in venture funding prior to its IPO in 2006 from OrbiMed and other investors.

Yaupon Therapeutics

Radnor, Pa.


Amount/Round: $14.5M/C

Investors: Vivo Ventures (led), Palo Alto Investors.

Details: Develops drugs to treat lymphoma, addiction and neuropathic pain. Past investors include Osage Ventures, Ben Franklin Technology Partners, TDH Capital and BioAdvance Greenhouse Fund.


Gigle Semiconductor Inc.

Redwood City, Calif.


Amount/Round: $20M/B

Investors: Scottish Equity Partners (led), Accel Partners, Pond Venture Partners.

Details: Develops system-on-chip ICs for home networking applications. The company had previously raised $11M. Stuart Paterson, a partner in Scottish Equity Partners’ information technology group, has joined the board.

Mobius Microsystems Inc.

Sunnyvale, Calif.


Amount/Round: $10M/B

Investors: Foundation Capital, Menlo Ventures.

Details: Develops precision-timing ICs. The company has raised more than $21M since 2004.

Quantenna Communications Corp.

Sunnyvale, Calif.


Amount/Round: $12.7M/B

Investors: Grazia Equity, Sequoia Capital, Sigma Partners, Venrock.

Details: Develops wireless chipsets for cell phones. The company raised $12M in Series A funding last year. Fahri Diner, managing director of Sigma Partners, has joined the board.

Star RF Inc.

Waltham, Mass.


Amount/Round: $960K/A

Investors: Matrix Partners.

Details: A semiconductor startup.


Optimum Energy



Amount/Round: $5M/B

Investors: Columbia Pacific Management.

Details: Develops software that reduces energy use in high-rises and other large buildings.


Convergence Inc.

Maynard, Mass.


Amount/Round: $15M/D

Investors: Highland Capital Partners, Globespan Capital Partners, North Bridge Venture Partners.

Details: Provides IP communications. Andy Goldfarb, executive managing director and a co-founder of Globespan Capital, has joined the board.

Vixxi Solutions Inc.

Irving, Texas


Amount/Round: $4M/A

Investors: ComVentures, Trident Capital.

Details: Provides 911 solutions for VoIP carriers. Roland Van der Meer of ComVentures sits on the board.


RedPharm Inc.

Princeton, N.H.


Amount/Round: $10M/B

Investors: Siemens Venture Capital (led), Ampersand Ventures, Adams Street Partners, Tang Capital Management.

Details: Provides medical image review services for clinical research.



San Francisco


Amount/Round: $23M/C

Investors: Sequoia Capital, DAG Ventures, Mitsui Ventures

Details: Provides advertising services online.

Consorte Media

San Francisco


Amount/Round: $7M/B

Investors: Sutter Hill Ventures (led), Mayfield Fund.

Details: Provides online marketing solutions targeting the Hispanic market. The funding was expected to be announced this week. Greg Sands, managing director of Sutter Hill Ventures, has joined the board.


Sunnyvale, Calif.


Amount/Round: $800K/A

Investors: First Round Capital, Baseline Ventures, Maples Investments, Felices Ventures.

Details: Drives online traffic to specific Web advertisers. The funding is the first close of an expected $2.12M Series A, according to a regulatory filing.

Yodle Inc.

New York


Amount/Round: $12M/B

Investors: Draper Fisher Jurvetson (led), Bessemer Venture Partners.

Details: Provides local online advertising and lead generation. The company was founded in Philadelphia in 2005 by Nathaniel Stevens, a finalist for Business Week magazine’s “America’s Best Young Entrepreneurs 2007.”


Carbylan BioSurgery Inc.

Palo Alto, Calif.


Amount/Round: $20M/B

Investors: Vivo Ventures (led), Alta Partners, InterWest Partners.

Details: Develops medical devices for scar-free healing and wound repair. The company raised a $7.9M Series A round in late 2005. Albert Cha, managing partner at Vivo Ventures, has joined the board.

Evalve Inc.

Menlo Park, Calif.


Amount/Round: $60M/D

Investors: BBT Fund (led), Emergent Medical Ventures, Apothecary Capital, Delphi Ventures, New Enterprise Associates, Split Rock Partners, Abbott Laboratories.

Details: Makes devices for the repair of cardiac valves. The company has now raised more than $100M in total VC funding.

LabNow Inc.

Austin, Texas


Amount/Round: $20M/B

Investors: Sammons Enterprises (led), Austin Ventures.

Details: Provides point-of-care diagnostic systems to analyze blood and other fluid samples. The company raised a $14M Series A round in 2004. Board members include former U.S. Senator Bill Bradley.


American Aerogel Corp.

Rochester, N.Y.


Amount/Round: $3.2M/B

Investors: Vimac Ventures (led), Mount Royal Ventures.

Details: Provides carbon-based aerogel insulation solutions to biomedical companies. The company was founded in 1999.


Passport Systems Inc.

Acton, Mass.


Amount/Round: $7.4M/C

Investors: Topspin Partners, Shiprock Capital.

Details: Develops cargo screening solutions to detect concealed materials. The funding is the first close of an expected $10M Series C round, according to a regulatory filing.


Platform Solutions Inc.

Sunnyvale, Calif.


Amount/Round: $37M/C

Investors: Blueprint Ventures, Goldman Sachs, Intel Capital, InterWest Partners, InvestCorp, Microsoft Corp.

Details: Develops mainframe computing datacenters. The technology was spun off from Fujitsu-Amdahl. The company previously raised nearly $15M.


BDMetrics Inc.

Baltimore, Md.


Amount/Round: $15M/C

Investors: Greenhill SAVP (led), Valhalla Partners, Grosvenor Funds, New Markets Growth Fund and Maryland Department of Business and Economic Development.

Details: Develops relationship management software for attendees of trade shows. The company had previously raised about $13M. Brian Hirsch, managing director of Greenhill SAVP, has joined the board.

Calabrio Inc.



Amount/Round: $8M/B

Investors: BlueStream Ventures, Split Rock Partners.

Details: Provides workforce optimization and unified desktop software for IP-based contact centers. The funding coincides with the company’s spin-off from Spanlink Communications last month. Travis Winkey, co-founder of BlueStream Ventures, and Michael Gorman, co-founder and managing director of Split Rock Partners, have joined the board.

Clinicient Inc.

Portland, Ore.


Amount/Round: $5M/A

Investors: Village Ventures, Highway 12 Ventures.

Details: Provides revenue cycle management software for outpatient rehabilitation clinics. The company raised less than $1M in seed stage financing last year from Northwest Technology Ventures and Capybara Ventures.

Inigral Inc.

Palo Alto, Calif.


Amount/Round: $580K/A

Investors: The Founders Fund.

Details: Develops software that enables collaboration between students, their peers and their instructors through online tools and social networks. The technology is based on a Facebook feature.

Interactive Supercomputing Inc.

Waltham, Mass.


Amount/Round: $11M/B

Investors: Fletcher Spaght Ventures, Ascent Venture Partners, Flagship Ventures, Rock Maple Ventures.

Details: Develops a software platform that delivers interactive parallel computing power to the desktop.

Kalido Inc.

Burlington, Mass.


Amount/Round: $10M/D

Investors: Atlas Venture, Balderton Capital, Matrix Partners.

Details: Provides data warehousing and management software. The company has now raised $29M in total VC funding.

Qwaq Inc.

Palo Alto, Calif.


Amount/Round: $7M/A

Investors: Alloy Ventures, Storm Ventures.

Details: Develops software that lets people in different places work together in a virtual space. The company is led by CEO Greg Nuyens, who was previously CEO of Devicescape.


Xiotech Corp.

Eden Prairie, Minn.


Amount/Round: $40M/B

Investors: Individual investor Steve Luczo, chairman of the Seagate Technology board (led), Oak Investment Partners.

Details: Provides network storage for businesses. The company has now raised more than $160M in total VC funding since 1997, including a 2002 recap of more than $61M led by Oak Investment Partners. Luczo joined the board of the company.


ProspectHills Inc.

Saratoga, Calif.


Amount/Round: $2.7M/A

Investors: Miramar Venture Partners.

Details: An IT startup, according to a regulatory filing. The company is run by former Protego Networks CEO Imin Lee.