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Funding Daily: This one is for you, Cody Woo


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My family dog growing up was named Cody, but for some reason, we called him “Woo” (may he rest in peace). Today, I came across a company that reminded me of my beloved beagle, and have decided to dedicate this post to him. He loved venture capital and funding news.

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Foundation Medicine uses DNA, $42.5M to treat cancer

Foundation Medicine has raised $42.5 million for its technology that investigates the genetic makeup of cancer patients and uses this knowledge to match patients with the best treatments.

The flagship product, FoundationOne, is a genomic profiler that uncovers genetic alterations in a patient and reports them to the physician. With a deeper understanding of each particular case and the ways the cells are working, physicians can better prescribe drugs, clinical trials, and other medical regimens. Investors include Deerfield Management Company, Casin Capital, Redmile Group, Roche Venture Funds, and WuXi Corporate Venture Fund. Previous backers Google Ventures, Kleiner Perkins Caufield & Byers, and Third Rock Ventures contributed again, following last year’s Series A of $33.5 million. Read more on VentureBeat.

If Matches Fashion wasn’t posh enough before, it now has $19.45 million

UK luxury retailer Matches Fashion has placed $19.45 million in its elegant marble box to meet increasing demand of online sales. The brick-and-mortar boutique first opened in London in 1990 and now has over 14 stores around town. Owners Tom and Ruth Chapman established an online presence in 2006. The company is projected to generate $81 million in sales in 2012, 60% driven by commerce. The duo sells apparel from over 250 major design labels, like Alexander McQueen and Balenciaga. The growth money came from Scottish Equity Partners and is Matches’ first round of institutional investment.

Origami Logic in process of folding up $8M in funding

Big Data company Origami Logic has raised almost $8 million of a $9.7 million round, according to an SEC filing. The investors listed are partners at Accel Partners, Ping Li and Jake Flomenberg. The company is still in stealth mode, and the website does not offer much background beyond “Origami Logic is developing a new, disruptive category of visual analytics products for business users.” Read more on VentureBeat.

MoPub’s investors ante up another $12M in a bet on mobile ads

Mobile ad exchange MoPub has just announced a new infusion of cash: $12 million from new and existing investors, including a strategic partner overseas. MoPub will be using the new funding to make big hires in New York and San Francisco, all the better to get the attention of ad agencies and brands. The round, MoPub’s second institutional infusion, was led by new investor Jafco Ventures, with participation from existing investors Accel Partners and Harrison Metal Capital. Read more on VentureBeat.

Stearclear of drinking and driving with on-demand drinking and driving

It all starts so innocently. A glass of wine at a party. A beer with dinner. There is nothing wrong with enjoying a drink (or 5), unless you have to drive. Drunk driving is a major issue in America, with well over 100 million instances of driving-under-the-influence a year. In an effort to address this problem, New Jersey startup Stearclear has developed a mobile app to get people home safely. The app connects to a GPS system that calls designated drivers, on-demand, to drive people home in their own cars. The drivers are from local, professional drive teams, and riders’ credit cards are automatically charged upon arriving home. Today, the company announced raising $600,000 in new funding, bringing its total to $1.1 million. The round was led by Jumpstart, a New Jersey angel group.

This one is for you, Cody Woo

Woofound has found $1 million in new funding. The company makes a visual personality game that helps you discover fun things to do based on your preferences. Users play the game, express their interests, and then receive targeted suggestions. They can then choose “me” or “not me” to help the engine make better recommendations. The company is based in Baltimore, MD, and the investment came from primarily local sources, including the Maryland Technology Development Corporation. This brings its total to $2.2 million.

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