Glasshouse IPO plans shatter
Glasshouse Technologies, an information technology consultancy specializing in data storage, just announced the withdrawal of its initial public offering due to poor market conditions — making it the third venture-backed startup to cancel an IPO in 2009. The Framingham, Mass. company originally filed in December 2007 and expected to rake in $100 million in the sale. It says it plans to refile once the economy rebounds.
Glasshouse provided management and customer support to companies integrating cloud… Continue Reading
Symwave raises $10.2M for “sync-and-go” apps
Chipmaker Symwave reeled in $10.18 million in third-round funding for technology that supports instant-syncing applications like external storage drives, cell phones, digital cameras and iPods. CMEA Ventures and Kodiak Venture Partners contributed the round. The Laguna Nigel, Calif.-based company has raised $25 million to date and was recently valued at $27.6 million.
Service software maker Astadia bags $7M to diversify products
Software-as-a-service company Astadia Inc. announced yesterday that it brought in $7 million in second round financing from new investor North Atlantic Capital and existing investor Kodiak Venture Partners, VentureWire reports.
The Dallas-based company and major SalesForce.com partner develops a variety of management consulting software to streamline areas like customer service, payroll administration and employee incentive programs. It plans to use the funding to continue growing and add to its portfolio of offerings. Currently, Astadia has seven… Continue Reading
E-Commerce marketing co. ChannelAdvisor raises cash, trims staff
ChannelAdvisor, a company that lets online retailers manage product marketing across marketplaces such as eBay, Amazon.com, Overstock.com and a series of shopping comparison sites, has raised an additional $20 million, VentureWire reports. The company has also laid off 70 of the company’s 350 employees — including four vice presidents.
According to CEO Scott Wingo in the article, ChannelAdvisor’s revenue has grown more than 55 percent and has more than 5,500 customers including Wal-Mart Stores Inc. and… Continue Reading
Hanger Network gets $10M boost for coat hanger campaigning
Few are aware of the looming issue of coat hanger pollution. Yet there they are, lying in heaps, projecting up from overburdened landfills, their anonymous, identical tops crooked into a single a questioning pose: Why? Why so much hanger waste?
Coming to the rescue is Hanger Network In-Home Media, which promotes biodegradable updates of the basic design Thomas Jefferson introduced in the early days of our country. The company, which promotes and sells biodegradable hangars to… Continue Reading
Life-science briefing: Friday, March 7, 2008
TODAY’S HEADLINES:
Allegro pulls in $4M for lung-cancer molecular diagnostics (release)
Ocular bandage developer I-Therapeutix raises $6M (Mass High Tech)
NanoBio gets last of $30M for skin-infection drugs (release)
Cayenne Medical raises $15M for sports medicine (release)
Aridis Pharma seeks $10M for oral-form drugs and vaccines (VentureWire)
Neurosurgical device maker Nfocus Neuro acquires StarFire Medical (release)
Allegro pulls in $4M for lung-cancer molecular diagnostics – Boston’s Allegro Diagnostics, a biotech developing molecular diagnostics for lung cancer, raised $4 million in a first funding… Continue Reading
HiWired raises $9M for technical support
HiWired is a service company that provides technical support for both businesses and consumers, and has customers including OfficeMax and Cox Communications.
Much like a highly successful public company, LivePerson, HiWired offers outsourced live help and support for everything from gadgets to internet installation. It’s based in Needham, Mass.
The $9 million round was the company’s second, led by North Hill Ventures. The investors from HiWired’s previous $5 million round, Kodiak Venture Partners and Sigma Partners, also… Continue Reading
Live Gamer lands $24M for virtual good trading
A new portal for trading virtual goods called Live Gamer announced its first funding today, promising to add some structure and protections to online transactions.
As massively multi-player online games (MMORPGS) like World of Warcraft have gained popularity, real-world markets have sprung up for everything from online currency and items, to favors, to entire player accounts. For the most part, players buy and sell with no oversight or regulation, a situation Live Gamer promises to change.
Live… Continue Reading
Life sciences briefing: Tuesday, Nov. 13, 2007
Featured companies: Akermin, Fluxion Biosciences, iCardiacTechnologies, Wellocities
UPDATED: Expanded items on Fluxion, Akermin, and Wellocities.
Fluxion Bio draws in $6.9M for cell-analysis tools — Fluxion Biosciences, a San Francisco developer of cellular-analysis tools, raised $6.9 million in a second funding round, VentureWire reports (subscription required). Investors included Kodiak Venture Partners, Claremont Creek Ventures and Life Science Angels.
Fluxion takes the idea of running chemical reactions against living cells — a key step in screening and analyzing the activity of drug… Continue Reading
Apple announces new music download service, Groove to fight on
Music services have been slow to let mobile users pay to download music from the Internet, but that just changed, with Apple announcing that iPhone users can now do so.
They’ll be able to buy music from iTunes directly, no longer having to download to their home computers and then sync to the device.
At 99 cents, that’s attractive. Especially with Apple’s accompanying announcement that it has slashed the price of its popular 8 gigabye iPhone to… Continue Reading
ChannelAdvisor gets $30M more for e-commerce marketing
ChannelAdvisor, a company that lets online retailers manage product marketing across marketplaces such as eBay, Amazon.com, Overstock.com and a series of shopping comparison sites, has raised an additional $30 million in funding.
The company, base in Research Triangle Park, North Carolina, said New Enterprise Associates led the round with $23.5 invested. Existing investors Kodiak Venture Partners, Advanced Technology Ventures, Southern Capitol Ventures and eBay participated.
The company said it would expand offerings into new geographies and investigate… Continue Reading
Green clothes hanger company, Hanger Network, raises $8M
Hanger Network, a New York company which produces environmentally friendly hangers, has raised $8 million round of venture capital financing.
The hangers are novel: They are made from recycled paper and are bio-degradable, and they carry ads on their necks, which allows the company to distribute the hangers for free.
This is another one of those brilliant ideas you wish you’d thought of. It cleans up the environment, and is useful too. If you’re like us, you… Continue Reading