Warburg Pincus turns $10M tap on for Spigit
Spigit, builder of internal social networks for large companies, announced today that it raised $10 million in equity from Warburg Pincus to expand its number of customers and continue product development.
The Pleasanton, Calif. company offers two different platforms — InnovationSpigit and IdeaSpigit — that allow employees within companies to share ideas, collaborate on projects and recruit the right people for certain efforts.
Spigit has now raised more than $15 million to date from family, friends and… Continue Reading
Cloud provider Cassatt sells out to CA to avoid bankruptcy
Cassatt, the San Jose, Calif.-based provider of cloud computing environments, has sold its assets to public IT management firm CA for an undisclosed sum. The company has been in trouble for a while now, announcing its intentions to find a buyer back in April after burning thround $100 million in venture capital.
CA will also inherit select employees from Cassatt. The cloud company had been backed by Hewlett-Packard, In-Q-Tel, New Enterprise Associates, Portcullis Partners, Quatris Fund… Continue Reading
Cloud provider Cassatt close to evaporating
Cassatt, one of the first companies in the cloud computing space, may have to shutter after spending its full $100 million in venture capital and failing to find an appropriate buyer, reports VentureWire. If one can’t be found, the San Jose, Calif. firm will be forced to declare bankruptcy.
Focused primarily on management of virtual data centers, Cassatt previously took capital from Hewlett-Packard, In-Q-Tel, New Enterprise Associates, Portcullis Partners, Quatris Fund and Warburg Pincus.
Yodlee takes large financing — could spell trouble for Mint
Yodlee, an online finance web platform that directly serves banks and other financial institutions, has raised a large round of $35 million, led by banking giant Bank of America.
Although Yodlee has been something of a dark horse while popular personal finance sites like Mint have taken the spotlight, the company’s apparent success could indicate a more difficult road than anticipated for their competitors in the personal finance market, including Buxfer, Geezeo, Wesabe and many others.
The… Continue Reading
Life sciences briefing: Monday, Feb. 11, 2008
TODAY’S HEADLINES:
PolyRemedy, developer of robotic wound care, takes in $25M (release)
Bacchus Vascular gets $15M for clot-busting device (VentureWire)
Protein-evolution company Modular Genetics gets $1.2M (VentureWire)
PharmatrophiX gets $300K for Alzheimer’s disease prevention drugs (release)
Light Sciences Oncology withdraws IPO (Edgar)
Arizona’s Translational Accelerator launches $20M life-sciences fund (bizjournals.com)
Cornea-reshaper Avedro gets $7M (VentureWire)
Gastrotech Pharma gets $6M in wake of Lilly deal (VentureWire)
Biomaterials maker MiMedx goes public via reverse merger (release)
Acrongenomics to complete acquisition of Molecular Vision by the end of… Continue Reading
Energy crop company Ceres raises $75M
Ceres, a Thousand Oaks, Calif. company seeking ways to produce plant biomass more efficiently for use in a new generation of alternative fuels, has raised a $75 million in financing.
Ceres has studied and collected sequenced plant genes to find fuels for cellulosic ethanol production, in order to create a more efficient and cleaner version of ethanol — which it hopes will replace gasoline as a transportation fuel. It’s just one several well-backed companies pursuing this.
Ceres… Continue Reading
Life sciences briefing: Monday, Aug. 27, 2007
Featured companies: Bravo Health, InfraReDx, MedAssets, Prestwick Pharmaceuticals
Prestwick Pharma raises $20M for neuro drugs — Specialty pharma Prestwick Pharmaceuticals, a Washington, D.C., firm that acquires cast-off drug candidates to treat neurological conditions, raised $20 million from existing investors, VentureWire reports (subscription required). Among those participating in the funding were Atlas Venture, Sofinnova Ventures, Vivo Ventures, Scale Venture Partners, Warburg Pincus and Pequot Ventures.
Prestwick said it raised the funds to acquire additional drug candidates. The company filed… Continue Reading
Vringo offers video ringtones, snags significant $12M
Vringo, a company that lets you choose video clips and then send them to your buddies as ringtones, has raised $12 million in second round of financing.
You download a software to your mobile phone, which lets you select from a group of clips. You then call your buddies and they’ll get the clip. They, in turn, can pass it own to their friends. Video ringtone offerings aren’t new (see Jamster and Psiloc, for example), but… Continue Reading
Bacchus, drug infusion catheter maker, to raise $6.5M more
Bacchus Vascular, a Santa Clara, Calif. maker of a drug infusion catheter, expects to finish raising another $6.5 million round of financing from inside investors, according to VentureWire.
The funding comes from the same investors who poured $7.6 million into the company last year to restart the company, including Warburg Pincus, Kaiser Permanente Ventures and the Vertical Group. This comes after significant financing in previous years, totaling a reported $40 million. Earlier investors Three Arch Partners… Continue Reading
Aicent, a mobile data network service co., raises $14.3M
Aicent, a San Jose, Calif. provider of mobile data networking services, has raised $14.3 million in a third round of funding led by Warburg Pincus, according to a regulatory filing cited by PE Week.
Coaltek, a “clean-coal” company, raises $33.4M more
Coaltek, a Tucker, Ga., company that tries to lower the greenhouse gas emissions created by the burning of coal, has raised $33.4 million in a third round of financing, according to VentureWire (sub required).
Lightspeed Venture Partners led the round, and was joined by existing investors Braemar Energy Ventures, Draper Fisher Jurvetson, Element Venture Partners, Technology Partners, and Warburg Pincus — brining the company’s total funding to more than $50 million in three rounds of funding.
The… Continue Reading