Week in deals, March 2, 2009


SAGE Electrochromics Inc.

Faribault, Minn.


Amount/Round: $20M/C

Investors: Good Energies (led), Applied Ventures, Bekaert.

Details: Develops smart window products for buildings that allow users to control the amount of sunlight that passes through. The company has now raised more than $51M in funding since 2000.


Rivulet Communications

Portsmouth, N.H.


Amount/Round: $11.5M/C

Investors: ATA Ventures, Menlo Ventures, Performance Equity Management, Scorpion Capital Partners.

Details: Provides IP network technology for hospitals. The company previously raised about $34M.


Portero Inc.

New York


Amount/Round: $6.6M/NA

Investors: LFE Capital (led), The Grosvenor Funds.

Details: Operates an online auction for luxury items, such as jewelry and art collections.


Aster Data Systems

Redwood City, Calif.


Amount/Round: $5M/B

Investors: Institutional Venture Partners.

Details: Develops analytic databases for frontline data warehousing. The funding brings the Series B round total to $17M, following a first tranche from Jafco Ventures, Sequoia Capital, Cambrian Ventures and First Round Capital. The company has now raised more than $22M in funding since 2007.


1Life Healthcare Inc.

San Francisco


Amount/Round: $8M/B

Investors: Benchmark Capital.

Details: Operates a network of boutique medical practices. The company raised $3.5M from Benchmark and Pinnacle Ventures in a Series A funding in 2007.


Tremor Media

New York


Amount/Round: $18M/C

Investors: Meritech Capital Partners (led), Canaan Partners, Masthead Venture Partners, European Founders Fund.

Details: Develops online video advertising technology, The company previously raised about $20M.


IndoorDirect Inc.

Addison, Texas


Amount/Round: $22.5M/A

Investors: Syncom Venture Partners (led), Northwood Ventures, Poseidon Enterprises.

Details: Operates a promotional network for the fast food and casual dining markets. Challenger Capital Group served as placement agent.


RedShift Systems Corp.

Burlington, Mass.


Amount/Round: $6M/B

Investors: Emerson (led), Alta Partners, InterWest Partners, Technology Venture Partners, Vesbridge Partners.

Details: Develops thermal imaging technology. The company has now raised about $20M since 2005.


Genocea Biosciences

Cambridge, Mass.


Amount/Round: $23M/A

Investors: S.R. One (led), Auriga Partners, Cycad Group, Alexandria Real Estate Equities, Lux Capital Management, Polaris Venture Partners, Morningside Ventures.

Details: Develops vaccines based on technology licensed from Harvard Medical School. The company was founded by Robert Paull, managing general partner at Lux Capital.

Pearl Therapeutics

Redwood City, Calif.


Amount/Round: $8M/debt

Investors: Oxford Finance Corp., Silicon Valley Bank.

Details: Develops drugs focused on respiratory disorders. The company previously raised about $35.5M in VC funding from Clarus Ventures, New Leaf Partners, 5AM Ventures and Nektar Therapeutics.

Selecta Biosciences Inc.

Watertown, Mass.


Amount/Round: $15.1M/B

Investors: Polaris Venture Partners, Flagship Ventures, NanoDimension and individual investor Timothy Springer (who previously founded LeukoSite, which was acquired by Millennium Pharmaceuticals).

Details: Develops immunomodulatory nanoparticles for the treatment of human diseases. The company previously raised $2.3M in funding.

Sopherion Therapeutics

Princeton, N.J.


Amount/Round: $55M/C

Investors: Zoticon BioVentures.

Details: Develops cancer-fighting drugs, The company previously raised $73M from Sprout Group, ProQuest, Canaan Partners, HealthCap, NewSpring Ventures, Commerce Health Ventures and Seaflower Ventures.


Westec Intelligent Surveillance



Amount/Round: $20M/NA

Investors: Argonaut Private Equity (co-led), Egis Capital Partners (co-led), Clarity Partners.

Details: Provides remote video monitoring services.


Apparent Networks Inc.

Wellesley, Mass.


Amount/Round: $12M/C

Investors: Egan-Managed Capital (led), Bain Capital Ventures, JMI Equity, Business Development Bank of Canada.

Details: Develops IT performance management software. The company has now raised more than $36M in funding since 2000.

Appirio Inc.

San Mateo, Calif.


Amount/Round: $10M/C

Investors: GGV Capital, Sequoia Capital.

Details: Develops software-as-a-service solutions to help businesses accelerate adoption of on-demand solutions. The company raised a $5.6M Series B round last year led by Sequoia Capital, and before that raised $1.1M from Salesforce.com and individual investors.

Aveksa Inc.

Waltham, Mass.


Amount/Round: $10M/C

Investors: FTV Capital (led), FirstMark Capital, Charles River Ventures.

Details: Develops enterprise access governance software. The company previously raised about $20M in funding since 2005.

Rally Software Development Corp.

Boulder, Colo.


Amount/Round: $8M/credit

Investors: Square 1 Bank

Details: Provides on-demand application life cycle management solutions. The company previously raised more than $35M in VC funding from Mohr Davidow Ventures, Boulder Ventures, Mobius Venture Capital and Vista Ventures.

Social Solutions



Amount/Round: $6.5M/C

Investors: Frontier Capital (led), WWC Capital Group, IDEA Fund Partners.

Details: Develops management software for nonprofits. The company has now raised more than $9M in funding since 2007.

Topaz Bridge Corp.

Bellevue, Wash.


Amount/Round: $2M/B

Investors: NA

Details: Develops software that integrates SAP software with Microsoft SharePoint. The funding is the first tranche of the Series B round. No investor information was disclosed, although the company plans to raise up to $10M for the round.


Ocarina Networks

San Jose, Calif.


Amount/Round: $20M/B

Investors: Jafco Ventures (led), Kleiner Perkins Caufield & Byers, Highland Capital Partners.

Details: Develops online storage optimization solutions. The company previously raised $11.3M in funding. Joe Horowitz, a general partner of JAFCO Ventures, has joined the board.


Pocket Communications Northeast

San Antonio, Texas


Amount/Round: $25M/credit

Investors: NA

Details: Provides flat-rate wireless voice and data services in the Northeastern United States. The Bank Street Group served as Pocket’s financial advisor and placement agent. In November, Pocket Communications raised $100M in Series A funding from Battery Ventures, Charles River Ventures and Pocket CEO Paul Posner.