Week in deals, Oct. 29, 2007


High Throughput Genomics Inc.

Tucson, Ariz.


Amount/Round: $10M/C

Investors: Merck Capital Ventures (led), Arcturus Capital, Solstice Capital, Valley Ventures.

Details: Develops microplate-based gene expression assay technology for drug discovery. Harry George, managing partner of Solstice Capital, will become chairman of the company. He joined the board in 2002. The company had previously raised $5M.

Phase Bioscience

Durham, N.C.


Amount/Round: $5.4M/B

Investors: Johnson & Johnson Development Corp. (co-led), Fletcher Spaght Ventures (co-led), Hatteras Venture Partners.

Details: Develops technology that reduces the cost of drug development and improves existing drugs. The funding brings the Series B round total to $6.6M. Johnson & Johnson Development Corp. led the first tranche, which closed in December 2006. Guy Fish of Fletcher Spaght and Doug Reed of Hatteras have joined the board. Johnson & Johnson’s Carol Marino was named to the board in January.


Optichron Inc.

Fremont, Calif.


Amount/Round: $12M/C

Investors: Battery Ventures, TL Ventures, VentureTech Alliance, U.S. Venture Partners.

Details: Develops mixed-signal integrated circuits. The company also named Tom Carlson as CFO.

Rapport Inc.

Redwood City, Calif.


Amount/Round: $18.5M/C

Investors: Centurion Holdings.

Details: Provides multicore, reconfigurable semiconductor architecture.

focused on multicore reconfigurable architecture. The company sells its products to the U.S. government, particularly the Department of Defense and the Department of Homeland Security.


Altela Inc.

Albuquerque, N.M.


Amount/Round: $7.1M/A

Investors: CCS Income Trust and undisclosed investors.

Details: Provides desalination technology and services. CCS Income Trust, a Canadian environmental services company, invested $5.1M in the round. The funding was at a PMV of $25M, the company said.

BioFuelBox Inc.

Hollister, Calif.


Amount/Round: $9.5M/A

Investors: Draper Fisher Jurvetson, DFJ Element.

Details: Operates as a biofuel refining startup.

HelioVolt Corp.

Austin, Texas


Amount/Round: $24M/B

Investors: Sequel Venture Partners, Noventi Ventures, Passport Capital.

Details: Develops thin-film photovoltaics. The funding brings the Series B round to $101M. The initial $77M tranche, which closed in August, came from Paladin Capital Group, Masdar Clean Tech Fund, New Enterprise Associates, Solucar Energias, Morgan Stanley Principal Investments, Sunton United Energy and Yellowstone Capital. The company also raised an $8M Series A round from New Enterprise Associates in 2005.


Siimpel Inc.

Arcadia, Calif.


Amount/Round: $21.5M/D

Investors: SunAmerica Ventures (led), Motorola Ventures, DFJ, Global Catalyst Partners, Portage Venture Partners, Scale Venture Partners, Zone Venture Partners.

Details: Makes optical switching components and subsystems. The company has now raised about $73M since 2000. The Series D funding was at a PMV of about $49M.



Watertown, Mass.


Amount/Round: $30M/D

Investors: General Electric, Procter & Gamble, Alliance Capital, Motorola, Qualcomm, North Bridge Venture Partners, Sequoia Capital, CMEA Ventures, FA Technology Ventures, OnPoint, Carruth Management, the Massachusetts Institute of Technology and board chairman Desh Deshpande.

Details: Makes lithium-ion batteries. The company has now raised $132 million in total funding. See story, page 11.

GridPoint Inc.

Washington, D.C.


Amount/Round: $16.5M/D

Investors: Goldman Sachs (co-led), Susquehanna Private Equity Investments (co-led), New Enterprise Associates, Perella Weinberg Partners, Robeco.

Details: Provides energy management products. The funding brings the Series B round to $48.5M. The company has now raised $88M in total equity funding.

SynapSense Corp.

Folsom, Calif.


Amount/Round: $1M/B

Investors: Sequoia Capital.

Details: Develops hardware systems to monitor power consumption at large computer data centers with the goal of reducing energy costs. The funding brings the Series B total to $11M with other participants including Emerald Technology Ventures, American River Ventures, Nth Power and DFJ Frontier. The company was founded by former Intel Corp. executive Peter Van Deventer and former University of California computer science professor Raju Pandey.



Palo Alto, Calif.


Amount/Round: $3.8M/A

Investors: Shasta Ventures, Tugboat Ventures.

Details: Operates an invite-only social network for professionals of various industries. The company previously had raised funding from angel investors.

GameLayers Inc.

San Francisco


Amount/Round: $500/K

Investors: O’Reilly AlphaTech Ventures and individual investors Joi Ito (chairman of Creative Commons and CEO of venture capital firm Neoteny) and Richard Wolpert (chief strategy officer at RealNetworks).

Details: Operates a gaming startup focused on massively-multiplayer online games.

SocialMedia Networks

Mill Valley, Calif.


Amount/Round: $3.5M/A

Investors: Charles River Ventures (led) and individual investors Marc Andreessen and Jeff Clavier.

Details: Provides platform services for developers of social network applications, such as Facebook and MySpace.

SocialThing Inc.

Boulder, Colo.


Amount/Round: $300K/seed

Investors: eonBusiness.

Details: Describes itself as a “digital life manager.” On the company’s blog, at blog.socialthing.com, the company says the funding is part of a $500K seed round.

Tumblr Inc.

New York


Amount/Round: $750K/A

Investors: Spark Capital, Union Square Ventures.

Details: A Web 2.0 startup that describes itself as developing technology to enable online scrapbooks to “quickly post and share anything you find or create.” Bijan Sabet of Spark has joined the board.


Collective Media

New York


Amount/Round: NA/A

Investors: Greycroft Partners (led), iNovia Capital.

Details: An online advertising network.

BrightRoll Inc.

San Francisco


Amount/Round: $5M/B

Investors: KPG Ventures (led), Adams Street Partners, True Ventures.

Details: Provides online video advertising services. The company has now raised $6M since it launched in July 2006.


New York


Amount/Round: $4.2M/C

Investors: Individual investors, including Jim Rutt (principal of JPR Ventures and former CEO of Network Solutions), and Jeff Ballowe (who retired from Ziff-Davis in 1998 as president of its interactive media division)..

Details: Provides an online linking system for advertising and ecommerce. Ballowe has joined the company’s advisory board. The company previously raised about $9M from such investors as Esther Dyson, editor of Release 1.0; Bob Weissman, former CEO and chairman of Dun and Bradstreet; Marty Kahn, company chairman and venture partner of Rho Capital; and David Sidman, company founder and CEO.


Direct Flow Medical Inc.

Santa Rosa, Calif.


Amount/Round: $27M/B

Investors: Johnson & Johnson Development Corp. (co-led), Foundation Medical Partners (co-led), VantagePoint Venture Partners, ePlanet, EDF Ventures, New Leaf Venture Partners, Spray Venture Partners.

Details: Develops a minimally invasive implant to treat heart valve disease. Lee Wrubel, general partner of Foundation Medical, and Brad Vale, vice president of Johnson & Johnson Development Corp., have joined the board.

Genomas Inc.

Hartford, Conn.


Amount/Round: $2.5M/C

Investors: Hartford Hospital, LES Investments, Puerto Rican Entrepreneurs Fund.

Details: A biomedical company focused on DNA-guided medicine and personalized health.

HistoRx Inc.

New Haven, Conn.


Amount/Round: $6M/B

Investors: Brook Venture Partners (led), Navigator Technology Ventures, The Roche Venture Fund, Commons Capital, Maven Capital.

Details: Develops tissue-based diagnostics. The company raised $1.5M in Series A funding in 2004.

VisEn Medical Inc.

Woburn, Mass.


Amount/Round: $7.5M/B

Investors: Merck Capital Ventures, Flagship Ventures, Siemens AG Medical Solutions, Spinnaker Capital.

Details: Develops fluorescence molecular imaging technology. The company has raised about $20M since 2001.


Bit9 Inc.

Cambridge, Mass.


Amount/Round: $10M/C

Investors: .406 Ventures (led), Atlas Venture, Highland Capital Partners, Kleiner Perkins Caufield & Byers.

Details: Provides security software. The company has now raised about $26M in total funding, plus a $2M federal grant.

TrustedID Inc.

Redwood City, Calif.


Amount/Round: $10M/B

Investors: Opus Capital (led), Draper Fisher Jurvetson, Draper Richards.

Details: Provides identity protection services.

Voltage Security Inc.

Palo Alto, Calif.


Amount/Round: $12M/D

Investors: Trident Capital led the round, and was joined by return backers Hummer Winblad Venture Partners, Morgenthaler Ventures, Menlo Ventures, Cipio Partners, Jafco Ventures.

Details: Provides information encryption solutions.





Amount/Round: $6M/A

Investors: T-Online Venture Fund (the venture unit of Deutsche Telekom).

Details: Develops digital content access software for consumers.

InfoNow Corp.



Amount/Round: $6M/A

Investors: Sequel Venture Partners (co-led), Sevin Rosen Funds (co-led).

Details: Provides customer relations software and services. Tim Connor of Sequel and Ram Veldi of Sevin Rosen have joined the board.

JackBe Corp.

Chevy Chase, Md.


Amount/Round: $9.5M/D

Investors: Harbert Venture Partners (co-led), Core Capital Partners (co-led), Intel Capital, Darby Technology Ventures, Blue Chip Venture Co.

Details: Provides enterprise mashup software. The company has raised about $20M since 2003.

Levanta Inc.

San Mateo, Calif.


Amount/Round: $8M/NA

Investors: Levensohn Venture Partners, vSpring, Walden International.

Details: Provides Linux data center automation. The company has raised about $117M since 1999, including a $30M infusion in 2000 at a PMV of nearly $150M.

Revionics Inc.

Sacramento, Calif.


Amount/Round: $10M/B

Investors: Sierra Ventures.

Details: Provides price optimization software for retailers.


San Diego


Amount/Round: $4M/B

Investors: Bertelsman Digital Media Investments, Trident Capital.

Details: Develops software to calculate online royalty payments for the entertainment industry. The funding brings the Series B round to $9M, including a $5M first tranche that was announced in May.



San Diego


Amount/Round: $5M/C

Investors: Tallwood Venture Capital, Narra Venture Capital, AsiaVest Partners.

Details: Develops heat dissipation products, such as liquid-cooled cold plates for power semiconductor modules, and heat sinks for air-cooled thermal solutions.

Schooner Information Technology Inc.

Oakland, Calif.


Amount/Round: $3.3M/A

Investors: CMEA Ventures.

Details: The company is in stealth mode, but its website says that its goal is to “help financial sector and Internet consumer-facing companies achieve high performance and scalability at a fraction of their current costs.” The funding is the first close of an expected $15M Series A round. The company is led by Richard Busch, who previously was with Sun Microsystems as research director of computer system architecture and analysis.





Amount/Round: $8M/A

Investors: Noro-Moseley Partners (led), Pittco Capital Partners, Imlay Partners and company management.

Details: Provides hosted VoIP services to micro enterprises.


mFoundry Inc.

Sausalito, Calif.


Amount/Round: $15M/C

Investors: Motorola Ventures (led), PayPal, NCR Corp., GRP Partners, Ignition Partners and an undisclosed investor.

Details: Develops mobile applications and is a platform provider. Prior investor Apax Partners did not participate. The company has now raised about $25M in total VC funding.