Newscale lands $2.2M to monitor IT services
NewScale, a provider of software that helps companies track how much they are using IT services — and how much it is costing them — has raised $2.2 million of a targeted $3 million in rights, reports VentureWire.
Almost exactly two years ago, the San Mateo, Calif., company raised $11 million in a fourth round of funding provided by Chess Ventures, Crosslink Capital, Menlo Ventures, Montagu Newhall Associates, New Enterprise Associates, Parker Price Venture Capital and… Continue Reading
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
Sinexus gets $20M, Entellus takes $15M for sinus products
Feeling stuffy? Two sinus-focused companies, Palo Alto, Calif.-based Sinexus and Maple Grove, Minn.-based Entellus, want to help out, with fresh rounds of funding for product development.
Venture funding for ear, nose & throat (ENT) companies hasn’t been terribly common in the past, but seems to be on the rise, with companies like these two and Acclarent, which took $35 million last year, promising safer, easier treatments for common sinus conditions. Acclarent just filed for an $86.25… Continue Reading
Paracor raises $44M for heart-failure device that restrains the heart
(UPDATED: See below.) Paracor Medical, a Sunnyvale, Calif., startup developing a mesh restraint designed to support failing hearts, raised $44.35 million in a fourth round of funding. The company is vying with another device startup, Acorn Cardiovascular, to prove that this sort of device works and to bring it to market.
The idea behind Paracor’s device, which it calls HeartNet, is simple. In heart failure, a general term for a variety of similar conditions with different causes, the… Continue Reading