Week in deals, Jan. 21, 2008


Alder Biopharmaceuticals Inc.

Bothell, Wash.


Amount/Round: $40M/C

Investors: Delphi Ventures (co-led), TPG Biotech (co-led), Sevin Rosen Funds, Ventures West, H.I.G. Ventures, WRF Capital.

Details: Develops antibody drugs. The company previously raised $27M.

Arcion Therapeutics



Amount/Round: $8.8M/A

Investors: CMEA Ventures, InterWest Partners.

Details: Develops drugs focused on alleviating pain associated with diabetic neuropathy. Collier from CMEA and Arnold Oronsky from InterWest Partners are on the company board.

AmpliMed Corp.

Tucson, Ariz.


Amount/Round: $5M/C

Investors: BioMed Venture Partners, Biotech Insight Ventures, Solstice Capital, Valley Ventures.

Details: Develops cancer-fighting drugs. The funding is the first close of a $22M Series C round, according to a regulatory filing. The company previously raised more than $22M in funding.

Aushon Biosystems Inc.

Burlington, Mass.


Amount/Round: $4M/B

Investors: North Bridge Venture Partners,

Details: Develops enabling technologies for life science research. The funding is the first close of an expected $7M Series B round, according to a regulatory filing.

NovaMin Technology Inc.

Alachua, Fla.


Amount/Round: $2.5M/C

Investors: Intersouth Partners, U.S. Biomaterials Corp.

Details: Develops oral health technology. The company raised $4.4M in early stage funding in April 2005.

Pervasis Therapeutics Inc.

Cambridge, Mass.


Amount/Round: $10M/B

Investors: Flagship Venture Partners, Polaris Venture Partners, Highland Capital Partners, Musket Research Associates.

Details: Develops regenerative cell-based therapies to treat cardiovascular diseases. The company has raised about $38M in funding since 2004.

NeurogesX Inc.

San Carlos, Calif.


Amount/Round: $25M/PIPE

Investors: SV Life Sciences.

Details: Develops drugs focused on pain management therapies. The company went public (Nasdaq: NGSX) in May 2007, after it raised about $90M in VC funding from Arch Venture Partners, Alta Partners, Global Life Sciences Ventures, Montreux Equity Partners and Walden International.

Tethys Bioscience

Emeryville, Calif.


Amount/Round: NA/C

Investors: Intel Capital (led), Kleiner Perkins Caufield & Byers, Mohr Davidow Ventures.

Details: Develops multi-biomarker technology. The company has now raised $54M, including a $5.3M Series A round in 2005 from MDV.

Zogenix Inc.

San Diego


Amount/Round: $18M/NA

Investors: Abingworth Management (led), Clarus Ventures, Domain Associates, Scale Venture Partners.

Details: Develops drugs focused on pain management and CNS disorders. The company has raised about $155M in funding, including a $60M Series A round in September 2006.


Dune Networks

Sunnyvale, Calif.


Amount/Round: $12M/B

Investors: U.S. Venture Partners (led), Alta Berkeley Ventures, Aurum Ventures, Cipio Partners, Jerusalem Venture Partners, Pitango Venture Capital.

Details: Makes integrated circuits for Internet and storage platforms. The company has raised $41M since August 2002.


Coskata Inc.

Warrenville, Ill.


Amount/Round: NA/NA

Investors: General Motors.

Details: Develops technologies for processing biorefuse into ethanol. The company previously raised $17M from Khosla Ventures, GreatPoint Ventures and Advanced Technology Ventures.


Detroit, Mich.


Amount/Round: NA/NA

Investors: Khosla Ventures.

Details: Develops next-generation diesel engines, with a focus on fuel efficiency. The company expects delivery in 2011.

Fisker Automotive Inc.

Irvine, Calif.


Amount/Round: NA/B

Investors: Kleiner Perkins Caufield & Byers.

Details: Makes an environmentally friendly sports cars. The company, which expects the first delivery in late 2009, previously raised a $5.5M first round from Palo Alto Investors. Fisker is a unit of Quantum Fuel Systems Technologies Worldwide, a developer of alternative fuels.

NanoGram Corp.

Milpitas, Calif.


Amount/Round: $32M/D

Investors: ATA Ventures, Bay Partners, Harris & Harris, Institutional Venture Partners, Nth Power, Rockport Capital Partners, SBV Venture Partners, Technology Partners, Global Cleantech Capital, Masdar Clean Tech Fund, Mitsui Ventures, Nagase & Co., Nanostart AG, TEL Venture Capital, Yasuda Enterprise Development.

Details: Makes core process technology for the manufacture of nanostructured materials for use in solar power applications.

Ze-gen Inc.



Amount/Round: $2.5M/debt

Investors: Pinnacle Ventures.

Details: Develops gasification technology to convert solid waste into electrical energy. The company previously raised about $8M in VC funding from Flagship Ventures and Vantagepoint Venture Partners.



Austin, Texas


Amount/Round: $18M/B

Investors: Austin Ventures.

Details: Develops IP-based audio and vide distribution technology. The company previously raised about $10M from Austin and undisclosed investors.


Achilles Group

Houston, Texas


Amount/Round: $2.5M/A

Investors: Ephor Group, First Analysis Corp.

Details: Provides outsourced HR services for small businesses.


Big Tent Design Inc.

San Francisco


Amount/Round: $5M/A

Investors: Menlo Ventures, Mohr Davidow Ventures.

Details: Operates a social networking site for family-friend groups.

LiveMocha Inc.

Bellevue, Wash.


Amount/Round: $6M/A

Investors: Maveron Equity Partners.

Details: Provides online language teaching services.

Outspark Inc.

San Francisco


Amount/Round: $11M/B

Investors: Tencent Holdings Ltd. (led), Altos Ventures, DCM.

Details: Provides a “virtual playground” for online gamers in the U.S. and Asia.


Nuventix Inc.

Austin, Texas


Amount/Round: $8.5M/A

Investors: InterWest Partners, Rho Ventures, CenterPoint Venture Partners, STARTech Early Ventures.

Details: Develops thermal management cooling solutions for the computer and consumer electronics market. The Series A round is expected to close soon on $10M.


MFG.com Inc.



Amount/Round: $26M/B

Investors: Fidelity Ventures (co-led), Fidelity Asia Ventures (co-led), European Founders Fund.

Details: Operates an online B2B marketplace for the manufacturing community. The company has now raised about $30M in funding, which includes an undisclosed amount of capital from Bezos Expedition, the investment vehicle of Amazon.com CEO Jeff Bezos.


Carbon Design Systems Inc.

Waltham, Mass.


Amount/Round: $6M/E

Investors: Commonwealth Capital, Flagship Ventures, Matrix Partners.

Details: Develops electronic design automation software. The company has now raised nearly $40M in total VC funding since its 2002 inception.


ArcMail Technology

Shreveport, La.


Amount/Round: $3M/A

Investors: Advantage Capital Partners, Louisiana Technology Fund.

Details: Provides email archiving and management solutions. The company, f.k.a. Wala Systems, raised $1.5M in seed capital in December 2005.

FyreBall Inc.

Bellevue, Wash.


Amount/Round: $1.1M/A

Investors: Labrador Ventures.

Details: Develops a gaming-influenced alternative to email. The company is run by former members of the Halo development team.

ProQuo Inc.

La Jolla, Calif.


Amount/Round: $8M/B

Investors: Mission Ventures, Draper Fisher Jurvetson.

Details: Develops software that filters junk mail. The company previously raised a $5M Series A round in September 2006.


Canopy Financial

San Francisco


Amount/Round: $15M/NA

Investors: Granite Global Ventures (led), Financial Technology Partners.

Details: Provides banking services for health care companies.

Nexxo Financial Corp.

San Bruno, Calif.


Amount/Round: $7.5M/C

Investors: Menlo Ventures, Sutter Hill Ventures.

Details: Provides financial services for international monetary remittance. The company had previously raised about $23M.



Redwood City, Calif.


Amount/Round: $28M/B

Investors: Menlo Ventures (led), Scale Venture Partners, Daehong Technew Corp.

Details: Develops enterprise-class, server-based multi-user PC computing solutions. The company raised $8M from Scale in September 2006.


DigitalBridge Communications Corp.

Ashburn, Va.


Amount/Round: $23M/B

Investors: Paladin Capital, RedShift Ventures, CNF Investments, Novak Biddle Venture Partner.

Details: Provides broadband services to underserved communities. The company previously raised $11M in Series A funding and $6.25M in venture debt.


Channel M Inc.

Los Angeles


Amount/Round: $6M/C

Investors: Ascend Venture Group, Vintage Capital Partners.

Details: Provides marketing and media services for retailers, such as tie-ins to major films, DVD releases and concerts. The company raised $5M from Vintage Capital in November 2006.

Tremor Media

New York


Amount/Round: $11M/B

Investors: Canaan Partners (co-led), Masthead Venture Partners (co-led).

Details: Operates an online video advertising network. The company previously raised an $8.64M Series A round in September 2006 from Canaan and Masthead.


Autonomic Technologies Inc.

Menlo Park, Calif.


Amount/Round: $3M/A

Investors: Kleiner Perkins Caufield & Byers.

Details: Develops neurostimulators.

Cardiovascular Systems Inc.

St. Paul, Minn.


Amount/Round: $11M/B

Investors: Easton Hunt Capital Partners, Maverick Capital.

Details: Develops a device for treating atherosclerotic plaque in coronary and peripheral vessels. The funding is the first close of an expected $22M Series B round, according to a regulatory filing.

Oraya Therapeutics Inc.

Menlo Park, Calif.


Amount/Round: $18M/B

Investors: Synergy Life Science Partners (led), Essex Woodlands Health Ventures.

Details: Develops ophthalmology medical devices.

ViOptix Inc.

Fremont, Calif.


Amount/Round: $12M/D

Investors: Channel Medical Partners (led), Lincoln Funds International, Canadian Medical Discoveries Fund, Morningside Technology Ventures.

Details: Develops diagnostic and monitoring instruments. The company has now raised about $29M in total VC funding since its 1999 inception.


Centric Software

San Jose, Calif.


Amount/Round: $14M/B

Investors: Oak Investment Partners (led), Bancboston Ventures, Masthead Venture Partners.

Details: Develops enterprise software.

Clinipace Inc.

Durham, N.C.


Amount/Round: $2.6M/B

Investors: Hatteras Venture Partners, Emergent Growth Fund.

Details: Provides clinical research software.

DevonWay Inc.

San Francisco


Amount/Round: $6.5M/A

Investors: Crosslink Capital.

Details: Provides on-demand software and services for improving work processes.

Engine Yard

San Francisco


Amount/Round: $3.5M/A

Investors: Benchmark Capital.

Details: Provides application deployment and support for Ruby on Rails, an open source Web framework. Mitch Lasky and Peter Fenton of Benchmark have joined the board.

FirstRain Inc.

Foster City, Calif.


Amount/Round: $13.5M/A

Investors: Oak Investment Partners, Diamondhead Ventures, Ampersand Ventures.

Details: Develops Internet infrastructure software. The company has now raised about $65M in total VC funding since 2000.

Innotas Inc.

San Francisco, Calif.


Amount/Round: $6M/C

Investors: ArrowPath Venture Partners, ComVentures, Cedar Circle.

Details: Develops project portfolio management software.

PubMatic Inc.

Palo Alto, Calif.


Amount/Round: $7M/A

Investors: Nexus India Capital (led), Draper Fisher Jurvetson, Helion Ventures.

Details: Develops software and services that connect online publishers with ad networks.

ReachForce Inc.

Austin Texas


Amount/Round: $5M/B

Investors: Greenhill SAVP, G-51 Capital.

Details: Provides on-demand software and data services for sales lead generation. Steve Brotman, managing director of Greenhill SAVP, has joined the board.


InPhase Technologies Inc.

Longmont, Colo.


Amount/Round: $20M/D

Investors: ALPS Electric Co., Bayer Material Science, Hitachi Maxwell Ltd., Japan Asia Investment Co., Nanotech Partners, New Venture Partners, Signal Lake, Yashuda Enterprise Development Co.

Details: Develops holographic data storage technology. The company has raised about $73M in funding since December 2000, including a $2.5M infusion in early 2001 at a PMV of about $45M.

Greenplum Inc.

San Mateo, Calif.


Amount/Round: $27M/C

Investors: Meritech Capital Partners (led), Sun Microsystems, SAP Ventures.

Details: Provides open source database technology. The company raised a $15M Series B round led by Sierra Ventures in February 2007.


Freepath Inc.

Folsom, Calif.


Amount/Round: $1.5M/A

Investors: Velocity Venture Capital (led) and individual investors from Strategies Early Ventures, Sacramento Angels and Sierra Angels.

Details: Develops digital content sharing tools and communities. CEO John Stone is a former executive of Apple.


Jingle Networks Inc.

Menlo Park, Calif.


Amount/Round: $13M/C

Investors: Goldman Sachs, IDG Ventures Boston, Liberty Associated Partners, First Round Capital.

Details: Provides alternative directory 411 assistance. The company raised a $30M Series C round in October from Goldman Sachs, IDG, Liberty Associated Partners, First Round, Comcast Interactive Capital, Hearst Corp. and Lead Dog Ventures.



Bethesda, Md.


Amount/Round: $10M/debt

Investors: BlueCrest Capital Finance.

Details: Operates a mobile virtual network for teens and younger kids. The company last fall raised a $37M Series B round from DFJ Growth Fund, Bessemer Venture Partners, Fidelity Ventures, Gabriel Venture Partners and InterWest Partners.

RadioFrame Networks Inc.

Redmond, Wash.


Amount/Round: $8.3M/F

Investors: Ignition Partners, Nextel Ventures, Ericsson Venture Partners, VantagePoint Venture Partners.

Details: Provides a platform for converging mobile voice and data. The funding is a first close of an expected $30M Series F round, according to a regulatory filing. The company has raised about $78M since 2001.