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As one RapGenius cofounder said at TechCrunch Disrupt last year, “Swaaaag, yeah.” Whatever that means, we assume it’s how the whole Rap Genius team feels today now that the company raised a major funding round. We’ve got the details on that round and more in today’s edition of funding daily.

Rap Genius bags $40M from Cleveland Cavaliers owner Dan Gilbert

Rap Genius, the annotation service that recently fired cofounder Mahbod Moghadam for insensitive comments about the Santa Barbara murder spree, has raised $40 million in a funding round led by Dan Gilbert, the owner of the Cleveland Cavaliers of the NBA (yes, the “It’s LeBron James’ team again Cavs). Previous investor Andreessen Horowitz also contributed to the round, which values the startup at under $1 billion (the rumored valuation is $400 million, according to Business Insider, which broke the news).

Additionally, the company has changed its name to Genius and launched embeddable annotations so that any website can use its annotation service.

Learn more at Business Insider.

Vidyo raises $20M to take videochat beyond the enterprise video-conference

Fun fact: Google’s videochat product, Google Hangouts, is actually powered another company’s technology, and that company is called Vidyo. And Vidyo has just pocketed a new $20 million in funding for its videochat product and technology, according to a WSJ report.

Read more on VentureBeat: Vidyo raises $20M to take videochat beyond the enterprise video-conference

Landscape Mobile gets $1.85M for its Sight iOS app

Landscape Mobile, which launched its Sight app on Apple’s App Store today, has raised $1.85 million in seed financing from IDG Capital Partners and individual investors, the startup announced today.

Sight enables folks to save articles by taking a screenshot of any app or website featuring that content. Its software analyzes the content, scouring the Web to find the article. Then it strips out ads, page dividers, and other “noise,” saving them for later reading, even if you’re offline.

Learn more in Landscape Mobile’s press release.

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