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Funding Daily: A pitcher’s worth of investment news


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Good news folks, you get another round of Funding Daily this morning. The stream of funding announcements for today seem endless, or perhaps I should say bottomless. Who says day drinking is only an activity for the weekends? This is just an early taste, so pace yourselves. There is more to come.

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Xtime drives off with $23 million for car repairs

Every industry needs some sort of enterprise Customer Relationship Management System (CRM), and Xtime provides it for the automotive repair industry. The cloud-based platform integrates with car dealers’ own systems to streamline business operations and drive sales. Xtime’s client base includes more than 4,700 dealers and works with major manufacturers in North America like Lexus, Toyota, BMW, Mercedes-Benz Nissan, Infiniti, VW, Audi, Chrysler and Hyundai.

This is the company’s second round of funding, led by Bessemer Venture Partners with participation from Lumia Capital and existing investors RPM Ventures and Saints Capital. This brings the total investment to $34 million. Xtime was founded in 2004 and has 225 employees. It is based in Redwood Shores, CA and has eight offices around the world. Read more on VentureBeat.

Retrofit takes $8M for its data-driven approach to weight loss

Retrofit takes an issue people have struggled with for generations and makes it high-tech. The company provides a “high-tech, high-touch” weight loss program that uses wireless tracking devices and web conferencing with health professionals to provide clients with personalized weight loss regimen. The service lasts for a year and takes a data-driven approach to shedding those extra pounds.  Draper Fisher Jurveston invested $6 million, with the rest of the capital coming from Correlation Ventures and Hyde Park Angels. Existing investors New World Ventures and I2A Fund also contributed. Retrofit is based in Chicago. Read more on VentureBeat.

Dogs need love, walks, and $6 million 

Some dogs are easier to take care of than others, but all require a few basic elements of care. DogVacay is a marketplace where pet owners can find qualified local caregivers. This first round of financing came from Benchmark Capital and will be put towards expansing the community and roster of services nationwide. There is significant interest on both ends of the platform, both for owners who need occasional help caring for their pet, and for suppliers who can feed their bank account (and their soul) by indulging their passion for dogs. The service eliminates the need to put pets in kennels, and also provides complimentary insurance, 24/7 emergency veterinary care, customer service, an daily photo and video updates. Read more on VentureBeat.

Corona. $2M dollars away from Ordinary

Application building platform Corona secured $2 million in funding for its software development kit that developers can use to quickly build mobile programs for iOS, Android, NOOK, and the Kindle Fire. The framework is used by 150,000 customers worldwide and has powered over 20,000 games, apps, eBooks etc… Corona Labs has been cash flow positive since 2010, and this round will be dedicated to growing the client base and growing the team, and expanding the product line. A majority of the capital came from Merus Capital and Western Technology. Corona’s offices are in Palo Alto, CA.

VerbalizeIt chips away at the Tower of Babel with $1.5M

Every traveler has at least one story stemming from cross-cultural miscommunication. My favorite (by which I mean worst memory) is the time I accidentally ordered rotting fish, intending to order a beer. VerbalizeIt seeks to protect travelers and business professionals alike from linguistic slip-ups by connecting them in real-time to human translators. From their mobile devices, users can connect to actual people anytime, anywhere to receive help with communication. After participating in the summer 2012 TechStars Boulder program, VerbalizeIt has pulled in $1.5 million from a group of angel investors. It is based in New York.

Foap raises half a million dollars to sell iPhone photos at $10 a pop

Swedish startup Foap recently collected $500K from a group of Asian investors for its iPhone app that helps people turn their pictures into cash. Users submit photos for approval and can then sell each image for $10. The proceeds are split in half between Foap and the users. The startup launched in June and since then has added 1.4 million images. Amateur photographers can go on Foap to make extra money, while brands can access content for marketing purposes. This brings the total investment in Foap to $900K. The are 18 employees are based in Malmo, Sweden.