Deals

Funding daily: Why raise a trillion when you could raise…a billion?

Image Credit: Movie still from Austin Powers: International Man of Mystery

IVP amasses $1 billion for a chosen few

Institutional Venture Partners announced a $1 billion fund that is the largest in the firm’s 32-year history. Existing limited partners took a vast majority of the fund and will continue to invest in the firm’s three target sectors: Internet and digital media, enterprise IT, and mobile and communications. The plan is to take a highly selective approach and invest $10 – $100 million in just 10 to 12 companies a year. Since 1980, IVP has provided later-stage investment to over 300 companies, including success stories Twitter, Kayak, LivingSocial, Netflix, and Zynga.

Practice Fusion raises $34 million to save trees and lives

Electronic Medical Record (EMR) provider Practice Fusion raised $34 million in a third round of financing. The platform strives to streamline and improve medical care by digitizing health records and patient flow. Practice Fusion now serves more than 150,000 medical providers and 40 million patients. It previously received over $30 million in federal stimulus incentives. The round was led by Artis Ventures, with participation from long-time investors Felicis Ventures and Band of Angels.

SocialToaster closes $1.975 million for more than warm bread

Software company SocialToaster raised almost $2 million in a first round for its marketing tool that mobilizes brand enthusiasts to promote corporate messaging. Loyal fans of particular brands are dubbed “Super Fans” and sent emails whenever their beloved brand posts a blog entry, event notice, or promotion. These enthusiasts then share this message with their entire social network, thereby amplifying its reach and personalizing the publicity. The company received backing from Blu Venture Investors, Baltimore Angels, Wasabi Ventures, and Piedmont Investment Advisors.

LogRhythm raises $15 million to keep hackers out

LogRhythm secures $15 million in a fourth round of funding to continue protecting against cyber threats. The security intelligence platform SIEM 2.0 works to prevent network attacks and breaches as well as help organizations analyze data for enhanced operational and business intelligence. The round was led by Siemans’ Venture Capital group, with participation from existing investors Adams Street Partners.

VolunteerSpot says goodbye to sign-up clipboards and bake sales

Even do-gooders need money, which is why VolunteerSpot received $1.5 million in funding to “help everyday heroes make a difference.” VolunteerSpot helps project coordinators by providing management tools and a cause-marketing platform, making it easy to mobilize volunteers to accomplish a specific goal within the community. The product is geared towards moms, teachers, and community leaders, and expects to double the user base during the back-to-school season. The round was led by ff Venture Capital of New York, with participation from members of the Central TX Angel Network, Nebraska Angel Network, Angel List, and Baylor Angel Network.

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