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Today’s Funding Daily brings you nothing small. We’ve got a huge new fund for health tech ideas, a massively ambitious plan to turn cars into something from The Jetsons, and a great, big payout from Nasdaq to early Facebook IPO participants.
Third Rock Ventures racks up $516M for health tech
Third Rock Ventures is a venture capital fund that supports companies working on health IT, science, biotech, and medicine. It’s huge, $516 million Fund III will invest in up to 16 companies with a particular focus on the “going convergence” of diagnostics, therapeutics, information technology, and data. Read the full story on VentureBeat.
GroundCntrl grabs $1.3M
In a Form D filed with the SEC late last week, we learned about a relatively small round for a new company with a weird name. GroundCntrl is a combination of a software as a service and a mobile app that organizes tasks and employee-incentive programs. It’s specifically aimed at companies with a “mobile workforce,” businesses that have workers spread out and not necessarily in an office. An example could be a canvassing business, such as the environmental folks you see on the sidewalks asking for a moment of your time. Read the full story on VentureBeat.
Joyride’s seed investors take a spin
Joyride seeks to make your boring commute time more fun with voice-activated mobile applications that provide a safe and social way to spend the driving hours. The startup is launching publicly today after presenting off-the-record at the Founder Den Demo Day last week and announcing $1 million in funding. Read the full story on VentureBeat.
Sherpa guides itself to a $1.1M pile of cash
Sherpa, iPhone app that promises to simplify your day, raised a $1.1 million round of seeding funding, it announced today. The app uses location-based technology to make your commute, routine, and life easier and is designed to work collaboratively with your smartphone’s calendar and email, automatically pushing information when you need it. Once installed, Sherpa can let you know when to leave for your next meeting, alert you to traffic jams on your daily commute, and automatically pull up your flight information when you arrive at the airport. Read the full story on VentureBeat.
Fenwick & West say a good Series A is hard to find
Silicon Valley law firm Fenwick & West just released the results of its 2012 Seed Financing Survey today. The study showed that the number of startups obtaining Series A financing after a seed round declined significantly in 2012. Cue the sad trombone sound effect! Read the full story on VentureBeat.
Not so much an exit as a $62M payout for Facebook investors
The Securities and Exchange Commission gave Nasdaq the green light to pay out up to $62 million to those who lost money after technical glitches held up Facebook’s initial public offering by a half hour. The ordeal cost investors money, and a couple weeks later, Nasdaq submitted its proposed compensation plan to the SEC, though it does claim it is not responsible for losses incurred on the trading floor. Read the full story on VentureBeat.
VB’s research team is studying mobile user acquisition... Chime in here, and we’ll share the results.