PowerFile closes in on $12M for online archiving
PowerFile, maker of appliances for online archiving, has brought in a little under $11.85 million in a fifth round of preferred stock and common stock, according to a filing with the SEC. Based in Foster City, Calif., the company is backed by Sequoia Capital and Silver Creek Ventures.
Data switch-maker Hammerhead dead in the water
Telecom data-switching company Hammerhead Systems has folded due to the poor economy, reports VentureWire. Specifically, the Mountain View, Calif.-based company failed to recruit enough mobile carriers as customers for its Ethernet aggregation switches, which rout data from mobile users back to operator networks.
The company claims this functionality helped carriers adapt aging equipment to modern traffic demands — but to no avail. It just let go 50 of its 53 employees, and the several that remain… Continue Reading
OneSpot raises $4.2M for customized news aggregation
OneSpot, a company that helps websites offer links to relevant news stories elsewhere on the Internet, has raised $4.2 million in a first round of venture funding.
The most obvious comparison to the Austin, Texas company’s offerings is technology news aggregation site Techmeme. Like Techmeme, OneSpot generates a list of links to relevant news in a specific field, using an algorithm that prioritizes articles based on factors like links and whether a specific website is “trusted.”… 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, Calif.-based company builds systems through Linux that can be used for security, management or compliance purposes. It will use its new financing to expand sales overseas.
Mobile coupon company Cellfire raises $12m
Mobile phone coupon company Cellfire has raised $12 million in a third round of funding.
The round includes a new investor, Silver Creek Ventures, and existing ones, including Menlo Ventures and Storm Ventures.
People who sign up for Cellfire’s service automatically receive coupons on their cell phones. If they accept the coupon, users receive a unique redemption code that’s redeemed at the store.
San Jose-based Cellfire was founded in January 2005. The company says it has distributed more… Continue Reading