Fortinet buys assets from Ethernet co. Woven
Network security company Fortinet has acquired fabric Ethernet provider Woven Systems to boost the efficiency and speed of its offerings, reports PE Hub. Santa Clara, Calif.-based Woven’s claim to fame is that it makes some of the smallest and densest 10-gigabit network switches in the… Continue Reading
SpinVox nabs $25M, demos voice-to-text with mixed results
SpinVox, the service that translates voice into text messages, demonstrated its technology to journalists today, emphasizing that its dependence on transcription by human operators will in no way hold the product back. That said, presenters stopped short of saying exactly how often these call centers… Continue Reading
Astoria Software raises funds to produce technical and product documentation
Astoria Software, maker of applications used to produce technical and product documentation for the technology, lifescience and manufacturing sectors, announced that it raised an undisclosed amount of financing from Goldman Sachs, BluePrint Ventures, Prism VentureWorks and Ticonderoga Capital, according to VentureWire.
Based in San Francisco, Astoria… Continue Reading
Nordic Windpower catches $16M from the DOE for turbine tech
Nordic Windpower, a Berkeley, Calif. maker of lightweight turbines for wind energy generation, has been awarded $16 million in federal stimulus loans and loan guarantees from the U.S. Department of Energy — but there are more than a few strings attached.
The company — one of… Continue Reading
Oil co. Terralliance finds funds despite risky business
Oil and gas exploration company Terralliance has raised an undisclosed amount of funding mostly from existing investors, despite reports that it squandered almost $300 million in capital on questionable purchases — Russian jets not least among them — before laying off more than half of… Continue Reading
Oil co. Terralliance runs out of cash — should have reconsidered the Russian jets
[Update: After speaking to a source close to the situation at Terralliance, some of the information in this post merits correction. The company turned to layoffs only after spending the money received from Kleiner and Goldman, not before. Additionally, chief executive Erlend Olson was not fired,… Continue Reading
Revolution Money nabs $42M from marquee firms
Payment-transfer platform Revolution Money just brought in $42 million from several major investment firms, including Goldman Sachs, Citigroup and Morgan Stanley – not to mention a few high-profile individuals like AOL co-founder Steve Case, former Charles Schwab chief executive David Pottruck and former JP Morgan… Continue Reading
GridPoint lands more funds for smarter utility use
GridPoint, one of the largest companies in the emerging smartgrid sector, announced that it has brought in an undisclosed sum from Craton Equity Partners. Already working with several investor-owned utilities like Duke Energy Corp. and Xcel Energy, GridPoint says its system automatically manages energy loads… Continue Reading
Jingle Networks keys up $7.5M for directory assistance
Jingle Networks, the company that operates national telephone directory assistance (1-800-FREE-411), landed $7.5 million in a fourth round of funding, according to VentureWire. The Menlo Park, Calif. firm will add this sum to the $75 million in capital it previously raised from Goldman Sachs, Hearst,… Continue Reading
Pano Logic closes $6M more for virtual desktops
Pano Logic, a Menlo Park, Calif.-based provider of software and computing equipment used to run virtual Windows desktops from data centers, has brought in $6 million more, upping its second round of funding to $18 million. It already has a customer base of 150, including… Continue Reading
Bivio nets $15.8M for flexible networking systems
Networking systems developer Bivio Networks just took in $15.8 million in a round led by Silver Creek Ventures and including new Japanese investors Itochu Techno-Solutions Corporation and Cross Technology Partners, as well as existing backers InterWest Partners, Storm Ventures, Venrock and Goldman Sachs. The Pleasanton,… Continue Reading
FTEN gets backing for direct market trading software
Financial software developer FTEN nabbed an undisclosed amount in second-round preferred stock funding from financial giants Merrill Lynch, Goldman Sachs, J.P. Morgan and Credit Suisse. The New York-based company provides digital applications to help prime brokers, clearing firms and hedge funds make direct transactions, assess… Continue Reading
LinkedIn raises $22.7M from SAP, other strategic investors
Updated
Professional networking site LinkedIn has raised another $22.7 million, bringing its total backing to slightly more than $100 million. The new funding is an addition to the round that LinkedIn raised in April at a valuation of more than $1 billion.
Interestingly, the money came from… Continue Reading
IT software maker Nimsoft lands $12M to expand globally
Nimsoft Inc., a producer of software that monitors IT infrastructure, nabbed $12 million in a second round of financing led by Goldman Sachs & Co. and including previous investors JMI Equity and Northzone Ventures.
The Redwood City, Calif.-based company, which provides software to about 700 clients… Continue Reading
Verimatrix raises $20M for TV content security
Verimatrix, a company that develops software and equipment to keep cable television from being illicitly intercepted by non-paying customers, has raised a third round of funding.
The company did not disclose the amount in a press release, but several sources, including Xchange, are reporting that it… Continue Reading
Cardio drug maker Portola Pharmaceuticals takes $60M extension
San Francisco-based drug company Portola Pharmaceuticals has taken a $60 million extension to its third round of funding to see it through Phase II trials for betrixaban, a drug intended to prevent blood clots.
The company is also working on an antiplatelet agent called PRT060128. If… Continue Reading
Arcot Systems pulls down $23 million for digital authentication
As more people handle tasks that require personal verification online, digital signatures are increasingly important.
Arcot Systems, which does digital-based signatures has raised a second round of funding. The money will no doubt be used to expand its operations in digital authentication.
The $23 million round was… Continue Reading
Optimal Technologies: Offers a “brain” for the nation’s electrical grid
Today’s electrical grid is frustratingly opaque.
Electrical utilities across the U.S. — and the world — often don’t know what the overall grid looks like. The grid is siloed into sections. Electricity can’t be evenly distributed between regions.
So recently, new startups have flocked to try… Continue Reading
Free 411 service Jingle raises $13M
Jingle Networks, a provider of free telephone directory services, has raised $13 million in a third round of funding, according to VentureWire.
The service, called “1-800-FREE-411″, is pretty simple, and it’s completely automated: You dial a number, listen to an ad and then get the information… Continue Reading
GridPoint, a well-funded smart-grid startup, raises $15M more
GridPoint, a smart-grid company that can intelligently manage energy sources and storage for utilities, has pushed its total equity raise to $102 million with an add-on of $15 million to its fourth round.
The company works to distribute the power and storage of utilities, as well… Continue Reading