Week in deals, Oct. 26, 2009


GlycoMimetics Inc.

Gaithersburg, Md.


Amount/Round: $38M/C

Investors: Genzyme Ventures, New Enterprise Associates, The Novartis Venture Fund, Anthem Capital and Alliance Technology Ventures.

Details: Develops glycobiology-based therapies to treat inflammatory and infectious diseases. The company previously raised about $25M in funding.


Tower Cloud Inc.

St. Petersburg, Fla.


Amount/Round: $20M/NA

Investors: El Dorado Ventures, Sutter Hill Ventures and an investor group led by telecom entrepreneur Cam Lanier.

Details: Provides broadband connectivity on a fiber optic or other similar high speed communications/data network. The company has now raised $30M in funding. The new investor group includes Ballast Point Ventures, Kinetic Ventures, Knology Inc., ITC Partners Fund, Noro-Moseley Partners, and The Burton Partnership.


HealthGuru Media

New York


Amount/Round: $3.2M/C

Investors: Castile Ventures (led) and Village Ventures.

Details: Operates a health-oriented website for 18- to 40-year-olds. Skip Besthoff, general partner of Castile, has joined the board.

Quidsi Inc.

Montclair, N.J.


Amount/Round: $30M/E

Investors: New Enterprise Associates (led), Accel Partners, Bessemer Venture Partners and MentorTech Ventures.

Details: Parent company of Diapers.com, which sells baby care necessities online. The company has now raised $41M since 2006.


San Jose, Calif.


Amount/Round: $4.6M/A

Investors: Storm Ventures (led) and Norwest Venture Partners.

Details: Provides online outplacement and job search services. The company previously raised $4.25M from Norwest and individual investors. Sanjay Subhedar, managing director of Storm Ventures, has joined the board.

Technorati Inc.

San Francisco


Amount/Round: $2M/D

Investors: Draper Fisher Jurvetson and Mobius Venture Capital.

Details: Operates a search engine for blog content. The company previously held a $7.5M first close on the Series D round in summer 2008. TechCrunch reports that the extension came from return backers although there was no mention of existing shareholder August Capital. Technorati had previously raised about $30M in funding.



Portland, Ore.


Amount/Round: $1.4M/A

Investors: Oregon Angel Fund and individual investors.

Details: Develops a software-as-a-service platform that allows merchants to send gift cards or certificates to mobile phones.



Los Angeles


Amount/Round: $500K/A

Investors: NA

Details: Provides in-stream advertising on Twitter. Mark Suster of GRP Partners is listed as a board member. The company was started by Sean Rad, a 23-year-old entrepreneur.

Audience Science Inc.

New York


Amount/Round: $15M/

Investors: Mayfield Fund, Mohr Davidow Ventures, Meritech Capital Partners and Integral Capital Partners.

Details: Provides behaviorally targeted audiences for Internet advertising. The funding is part of a $20M round, according to a regulatory filing. The company has now raised about $97M in funding since 2000.




Amount/Round: $750K/A

Investors: iNovia Capital (led) and Extreme Venture Partners.

Details: Provides online advertising solutions. The company is planning a launch in November.

HubSpot Inc.

Cambridge, Mass.


Amount/Round: $16M/C

Investors: Scale Venture Partners (led), Matrix Partners and General Catalyst Partners.

Details: Provides Internet marketing services for small and medium enterprises. The company previously raised $17M in funding.

Sometrics Inc.

Los Angeles


Amount/Round: NA/B

Investors: Steamboat Ventures (led), Greycroft Partners and the Mail Room Fund.

Details: Provides analytics focused on social networking platforms. The company previously raised about $25K from Greycroft in 2008.


Lux Biosciences Inc.

Jersey City, N.J.


Amount/Round: $50M/B

Investors: HBM Bioventures, Novo A/S, Prospect Venture Partners and SV Life Sciences.

Details: Develops treatments for ophthalmic diseases. The company had raised a $49M Series A round in 2006.

Vertos Medical Inc.

Aliso Viejo, Calif.


Amount/Round: $15.5M/D

Investors: Onset Ventures (led), CHL Medical Partners, Foundation Medical Partners, Aweida Venture Partners and DFJ Mercury.

Details: Develops minimally invasive devices for lumbar spine decompression. The company has now raised more than $32M in funding since 2005. ONSET Venture Partner John Ryan has joined the board.


Endocyte Inc.

West Lafayette, Ind.


Amount/Round: $26M/C

Investors: Clarian Health Ventures, Sanderling Ventures, Burrill & Co., American Bailey Ventures, Blue Chip Venture Co. and Triathlon Medical Ventures.

Details: Develops treatment for cancer and autoimmune diseases. The company has now raised about $71M in total VC funding since 2001.

Flexion Therapeutics

Woburn, Mass.


Amount/Round: $33M/A

Investors: Versant Ventures (led), 5AM Ventures and Sofinnova Ventures.

Details: A drug development startup. The company was founded in 2007 by Chorus co-founders Mike Clayman and Neil Bodick.

Synageva BioPharma Corp.

Waltham, Mass.


Amount/Round: $12M/F

Investors: New Leaf Venture Partners, Hunt BioVentures, Yasuda Enterprise Development, Baker Brothers Investments, Tullis Dickerson and Four Partners.

Details: Develops protein therapeutics to treat various diseases. The funding brings the round total to $45M.

The company has now raised about $95M in funding.

Tarsa Therapeutics Inc.



Amount/Round: $24M/A

Investors: MVM Life Science Partners (led), Quaker BioVentures and Novo AS.

Details: Develops an oral formulation of calcitonin, a peptide hormone for the treatment of osteoporosis that slows the rate of bone destruction.


Canesta Inc.

Sunnyvale, Calif.


Amount/Round: $16M/E

Investors: Quanta Computing, SMSC, Carlyle Growth Partners, Hotung Venture Group and Venrock.

Details: Develops 3D-image, electronic perception technology for automobiles. The company previously raised about $73M in funding.


Damballa Inc.



Amount/Round: $8M/NA

Investors: Palomar Ventures, InterWest Partners and Sigma Partners.

Details: Develops Internet security software focused on “bot armies,” which are made of computers that have been hijacked without the knowledge of the users. The company has now raised more than $16M in funding since 2006.

RedSeal Systems Inc.

San Mateo, Calif.


Amount/Round: $12M/NA

Investors: OVP Venture Partners (led), Venrock, Jafco Ventures, Sutter Hill Ventures and Leapfrog Ventures.

Details: Develops security management software. The company has now raised more than $43M in total VC funding since 2004. Mark Ashida, managing director at OVP, has joined the board.


Copanion Inc.

Andover, Md.


Amount/Round: $10.2M/B

Investors: Commonwealth Capital Ventures and Pilot House Ventures.

Details: Develops productivity software solutions for the accounting industry. The company has now raised more than $21M in funding from Commonwealth and Pilot House.

Jive Software Inc.

Portland, Ore.


Amount/Round: $12M/B

Investors: Sequoia Capital.

Details: Develops social business collaboration software. The company previously raised a $15M round from Sequoia in 2007.

REvolution Computing

Palo Alto, Calif.


Amount/Round: $9M/NA

Investors: Intel Capital and Northbridge Venture Partners.

Details: Develops software for statistical computing language. The company has now raised $11M in funding from Intel Capital and Northbridge.