Week in deals, Jan. 14, 2008


Calistoga Pharmaceuticals Inc.



Amount/Round: $5.2M/A

Investors: Frazier Healthcare Ventures, Alta Partners, Three Arch Partners, Amgen Ventures.

Details: Develops drugs focused on oncology and inflammation. The funding brings the round total to $26.2M.

Follica Inc.



Amount/Round: $5.5M/A

Investors: InterWest Partners (led), PureTech Ventures.

Details: Develops treatments for hair loss. Chris Ehrlich, partner at InterWest, has joined the board.

Gelesis Inc.



Amount/Round: $16M/A

Investors: OrbiMed Advisors (led), Queensland BioCapital, PureTech Ventures.

Details: Develops drugs to treat obesity. CEO Yishai Zohar is a former partner and co-founder of PureTech.

Genizon BioSciences

St. Laurent, Quebec


Amount/Round: $30M/E

Investors: BTF BV (led), Fund Management, MVI Syerifge, Solaris Asset Management, Investissement Desjardins, HBM BioVentures.

Details: Operates a genomics company dedicated to the discovery of genes and biomarkers. The company has now raised nearly $130M in total VC funding.

Tempo Pharmaceuticals

Cambridge, Mass.


Amount/Round: $8.1M/B

Investors: Bessemer Venture Partners, Polaris Venture Partners, Venrock, Lux Capital, Alexandria Real Estate Equities Inc., and individual backer William Rastetter (former executive chairman of Cambridge biotechnology firm Biogen Idec Inc. and now a partner at Venrock).

Details: Develops nanopartical-based drugs to provide more precise drug delivery to targets in the body while reducing toxicity. The company has now raised more than $22M, including a $12.1M Series A round in May 2007 and a $2M seed funding in December 2006.


Chelsio Communications Inc.

Sunnyvale, Calif.


Amount/Round: $25M/E

Investors: Investor Growth Capital (led), New Enterprise Associates, INVESCO Private Capital, LSI Logic Corp., Hotung Capital Management, Abacus Capital Group, Pacesetter Capital Group, Horizon Ventures.

Details: Provides 10-gigabit Ethernet solutions. The company has now raised about $84M in total VC funding since 2001. NEA General Partner Forest Baskett is chairman of the company.

PeerApp Ltd.

Newton, Mass.


Amount/Round: $3M/NA

Investors: Pilot House Ventures Group, Evergreen Venture Partners, Cedar Fund.

Details: Provides data communications components that handle P2P infrastructure. The company’s board includes Peter Bell of Highland Capital Partners.


San Jose, Calif.


Amount/Round: $6.5M/B

Investors: Gabriel Venture Partners (led), Individuals’ Venture Fund, Garage Technology Ventures, Garage Canada and individual investors.

Details: Develops noise cancellation technology.


Boston-Power Inc.

Westborough, Mass.


Amount/Round: $45M/C

Investors: Oak Investment Partners (led), Venrock, Granite Global Ventures, Gabriel Venture Partners.

Details: Develops lithium-ion batteries for use in laptops. The company has now raised more than $68M in total funding, including a $15.6M Series B round in late 2006 at a PMV of about $61M. Bandel Carano, managing partner of Oak Investment Partners, has joined the board.

Deeya Energy Inc.

Fremont, Calif.


Amount/Round: $15M/B

Investors: New Enterprise Associates (led), Draper Fisher Jurvetson, DFJ Element, Blue Run Ventures.

Details: Develops energy storage devices for the load-shifting, uninterruptible power supply and renewable energy markets. The company has now raised $25M since September 2006. Ravi Viswanathan, NEA partner, has joined the board.

EnerTech Environmental Inc.



Amount/Round: $42M/B

Investors: Citi Sustainable Development Investments (co-led), Masdar Clean Tech Fund (co-led), Nimes Capital, CNM Inc.

Details: Develops renewable energy facilities that use biosolids and other high-moisture wastes. The company previously raised an undisclosed amount from Paperboy Ventures.


Epocrates Inc.

San Mateo, Calif.


Amount/Round: NA/NA

Investors: Goldman Sachs.

Details: Develops handheld Internet enabled computing systems for physicians. The company has raised more than $52M in funding since 1999 from such investors as Draper Fisher Jurvetson, InterWest Partners, Three Arch Partners and others.

Iclinix Inc.

Wilmington, N.C.


Amount/Round: $10M/NA

Investors: Frontier Capital.

Details: Provides clinical trial research services.



Santa Monica, Calif.


Amount/Round: $7M/venture debt

Investors: Orix Venture Finance.

Details: Operates an online marketplace for recipes and related shopping services. The company raised about $90M in funding from 1998 to 2000 from Clearstone Venture Partners, DynaFund Ventures, Mellon Ventures, Perennial Ventures, Starbucks Corp. and Vanguard Ventures, among other investors.


New York


Amount/Round: $5M/NA

Investors: Prokom Investments SA.

Details: Provides search engine services based on queries phrased as questions, sentences or keywords. The company has now raised $21M in VC funding.


McLean, Va.


Amount/Round: $20M/C

Investors: DFJ Growth Fund, Menlo Ventures, New Enterprise Associates.

Details: Operates a job website. Mark Bailey, partner of DFJ Growth Fund, has joined the board.



Washington, D.C.


Amount/Round: $8.7M/C

Investors: Grotech Capital Group, Polaris Venture Partners, New Atlantic Ventures, New Markets Growth Fund.

Details: Provides online advertising services.

Novus Communication Technologies Inc.

New York


Amount/Round: $5M/B

Investors: Allen & Co. and outdoor advertising executive Karl Eller.

Details: Provides digital advertising solutions, such as electronic billboards.


AgaMatrix Inc.

Salem, N.H.


Amount/Round: $24M/C

Investors: Notable International Ltd., Collaborative Seed & Growth Partners,

Details: Develops blood glucose monitoring products for the diabetes market.

Aragon Surgical Inc.

Palo Alto, Calif.


Amount/Round: $25M/B

Investors: Bay City Capital (led), Integral Capital Partners, Delphi Ventures, Onset Ventures.

Details: Makes surgical devices.

Benvenue Medical Inc.

Mountain View, Calif.


Amount/Round: $15M/B

Investors: Three Arch Partners (led), Versant Ventures, De Novo Ventures.

Details: Develops minimally invasive solutions for spine repair. Bill Harrington of Three Arch Partners has joined the board.

Cellectar Inc.

Madison, Wisc.


Amount/Round: $13M/NA

Investors: Venture Investors, Advantage Capital, and individual investors in Wisconsin.

Details: Develops products to detect, treat and monitor cancer.

CyberHeart Inc.

Menlo Park, Calif.


Amount/Round: $9M/A

Investors: Emergent Medical Ventures (co-led), United Investments (co-led), Venture Select GmbH and Mitsubishi Corp.

Details: Develops a non-invasive system to treat cardiac arrhythmias.

Mitralign Inc.

Tewksbury, Mass.


Amount/Round: $24M/C

Investors: Medtronic (co-led), Johnson & Johnson Development Corp. (co-led), Oakwood Medical Investors, Palisade Capital Management, Accelerated Technology Partners, Forbion Capital Partners, Giza Venture Capital, Oxford Biosciences, Triathlon Medical Venture Partners.

Details: Develops a catheter-based method for treating mitral regurgitation in patients suffering from congestive heart failure. The company previously raised about $28M in VC funding.


ForeScout Technologies Inc.

Cupertino, Calif.


Amount/Round: $4M/E

Investors: Accel Partners, Amadeus Capital Partners, Meritech Capital Partners, Pintango Venture Capital.

Details: Provides enterprise networks with perimeter security. The funding is the first close of an expected $6.49M Series E round, according to a regulatory filing. The company has now raised more than $40M in total VC funding.

iVerify US Inc.

Charlotte, N.C.


Amount/Round: $21M/NA

Investors: RBC Century Bank and an undisclosed private equity investor.

Details: Provides interactive video monitoring services. The company also announced that it has acquired Smart Interactive Systems Inc. for $8.5M in cash.


Memeo Inc.

Aliso Viejo, Calif.


Amount/Round: NA/B

Investors: Foundry Group.

Details: Provides automatic backup software for the consumer and small business markets. Ryan McIntyre, a co-founding managing director of Foundry Group, has joined the board.

Pudding Media

San Jose, Calif.


Amount/Round: $8M/A

Investors: Opus Capital, BRM Capital.

Details: Develops speech recognition software.


Cupertino, Calif.


Amount/Round: $14.5M/D

Investors: Draper Fisher Jurvetson, New Enterprise Associates, Walden International.

Details: Develops open-source customer relationship management software. The funding is the first close of an expected $20M Series D round, according to a regulatory filing. The company previously raised about $27M.

Tamarac Inc.



Amount/Round: $7M/A

Investors: Optimal Ventures.

Details: Develops financial portfolio management software. The funding is the first close of an expected $10.45M Series A round, according to a regulatory filing.

UBMatrix Inc.

Kirkland, Wash.


Amount/Round: $8M/B

Investors: Draper Fisher Jurvetson, The Meteor Group.

Details: Develops software for business reporting process and workflow. The funding is the first close of an expected $10.2M Series B round, according to a regulatory filing.



Needham, Mass.


Amount/Round: $9M/B

Investors: North Hill Ventures (led), Kodiak Venture Partners, Sigma Partners

Details: Provides IT support services, has raised $9M in Series B funding. The company, f.k.a. LightFrog, previously raised about $3.6M, including $1.6M in startup funding from individual investors in May 2005.

Hillcrest Laboratories Inc.

Rockville, Md.


Amount/Round: $25M/D

Investors: AllianceBernstein (led), New Enterprise Associates, Columbia Capital, Grotech Capital Group.

Details: Makes software and hardware for delivering interactive television applications. The company has raised about $55M in funding since 2001.


Meraki Networks

Mountain View, Calif.


Amount/Round: $20M/B

Investors: Sequoia Capital, DAG Ventures, Northgate Capital.

Details: Develops wireless mesh hardware and software. The company also announced that it plans to develop a city-wide wireless access network in San Francisco by the end of the year. The company raised nearly $6M in a Series A deal late last year from Sequoia and individual investors.

Motricity Inc.

Durham, N.C.


Amount/Round: $185M/NA

Investors: Advanced Equities, New Enterprise Associates and Carl Icahn.

Details: Provides mobile content. The deal was announced late last year. The company has now raised more than $365M in total VC funding from NEA, Technology Crossover Ventures, Massey-Burch Capital, Noro-Moseley Partners, Intel Capital, Qualcomm Ventures, Sienna Ventures, TriState Investment Group and Wakefield Group. Part of the proceeds will be used to finance a recently closed $135M cash acquisition of the mobile services business of InfoSpace Inc.


Campbell, Calif.


Amount/Round: $9.5M/B

Investors: Cisco Systems (led), Intel Capital, Clearstone Venture Partners.

Details: Provides mobile access to PC-based files and emails. The company has now raised $15.5M since it was launched two years ago.

Stoke Inc.

Santa Clara, Calif.


Amount/Round: NA/NA

Investors: Reliance Technology Ventures Ltd., Kleiner Perkins Caufield & Byers, Sequoia Capital, Integral Capital Partners, DAG Ventures.

Details: Develops convergence gateways for fixed and wireless broadband access technologies. Reliance Technology Ventures is the corporate VC arm of India’s Reliance ADA Group. Previously, the company, f.k.a. Network Vanguard, raised more than $50M in funding.