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Funding Daily: ATMs that give you money for old broken phones


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At VentureBeat, we come across a lot of funding news every day. In order to bring you the most information possible, we’re rounding up the quick-and-dirty details about the funding deals of the day and serving them up here in our “Funding daily” column.

EcoATM gets funding to recycle your old phones for cash

EcoATM has raised $17 million for its electronics recycling “ATM” kiosks, which give you money for handing over old phones, MP3 players, and even laptops. In order to get more people to recycle their electronics, the company will make it worth your while to part with your old device by giving you money or discounts on new phones. Claremont Creek Ventures, Coinstar, and TAO Ventures led the $17 million second-round funding, with PI Holdings, Moore Venture Partners, AKS Capital, and angel investor Koh Boon Hwee participating.

Blue Pillar raises $7M

Blue Pillar raised $7 million Tuesday for its electrical grid software that manages power usage for large corporate campuses, hospitals, and other electricity sucking facilities. The company helps manage energy consumption, connecting all different types and ages of equipment together. The funding round was led by Claremont Creek Ventures, Arsenal Venture Partners, Allos Ventures, and OnPoint Technologies.

Signpost grabs $3.75M

Local advertising startup Signpost grew its business a little bit Tuesday with a $3.75 million investment. Signpost tackles the market of local businesses that need exposure, but not beyond their town, county, or tri-state area. Spark Capital led the round of funding.

SEOmoz nabs $18M for search engine optimization

Hoping to be the small business’ go-to for search engine optimization, SEOmoz has raised $18 million in funding. The company’s product, called SEOmoz Pro, crawls your site every week to figure out if your SEO tactics are doing anything at all. Foundry Group led the round, with an additional investment from Ignition Partners.

Social shopping site Ruby Ribbon grabs $3M

Ruby Ribbon raised a $3 million seed round to create social fashion parties. Like Tupperware partners for this century, the company provides fashion to “Independent Stylists,” or fashion salespeople who host fashion parties for friends. Trinity Ventures led the round.

Peoplefluent invests in Socialtext

A Palo Alto-based startup that makes social software for businesses, Socialtext, became a subsidiary of talent management company Peoplefluent. Peoplefluent announced it had made a strategic investment in the company, but it seems more like an acqui-hire. Peoplefluent is owned by Bedford Funding, a $1.4 billion private equity firm.

Basket of cell phones image via Shutterstock

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