Follow The Money: 10 Recent Tech VC Investments To Watch In June4:00 PM EST Wed. Jun. 26, 2013
The ongoing courtship between venture capitalists and technology developers continued unabated through the month of June as both groups sought to leverage cloud computing and other technology toward the development of new offerings that would help meet the needs of businesses and consumers alike. Last month, there were a number of tech company funding rounds, and June proved just as exciting. CRN takes a look at some of the highlights from the past month.
Headquarters: Los Angeles
CEO: Walter Delph
New Funding: $2 million
Backers: GRP Partners, Siemer Ventures
Adly offers a social media advertising platform that leverages proprietary analytics to reach targeted audience segments in an effort to match influencers with relevant brands with an emphasis on using technology to drive consumer engagement. Adly has run over 30,000 branded conversations with over 200 brands, including AT&T, Warner Bros, Samsung, American Express and AOL.
Headquarters: Sunnyvale, Calif.
CEO: Jieming Zhu
New Funding: $7.5 million
Backers: Handbag, LLC
AlephCloud is building a strategy in the cloud content privacy management space, which industry insiders see as likely to get a boost, given the privacy issues in the headlines these days. Led by former executives from Hewlett-Packard, Microsoft and Brocade, the company seeks to capitalize on the bring-your-own device phenomenon with what it describes as "a new technology for managing content privacy and provenance in public clouds."
Headquarters: Cambridge, Mass.
CEO: Shaun McConnon
New Funding: $24 million
Backers: Globespan Capital Partners, Menlo Ventures, Flybridge Capital Partners, Commonwealth Capital Ventures
A provider of big data analytics to support risk management, BitSight intends to leverage the added investment toward further product development and product launch-related activities, as well as expand its sales and marketing team. The company's platform collects and analyzes large quantities of security-related data geared toward helping customers to better assess their security condition and make appropriate modifications where necessary.
Headquarters: San Mateo, Calif.
CEO: Jim Yu
New Funding: $42.8 million
Backers: Insight Venture Partners
The BrightEdge S3 content marketing platform leverages big data analytics to assist customers in measuring and understanding the revenue impact of earned content created by websites, search engines and social networks. The system processes massive volumes of data in real time, and it provides information through customized dashboards. The company has added more than 300 direct clients in the past 12 months.
CEO: Albert Santalo
New Funding: $20 million
Backers: Tenaya Capital, Intel Capital, Norwest Venture Partners
CareCloud, which develops cloud-based practice management, electronic health records (EHR) and medical billing software and services, intends to use the added investment toward a variety of cross-functional activities, particularly product development as well as sales and marketing. The company reports that its platform is currently used by nearly 3,000 healthcare providers in 45 states.
Headquarters: San Francisco
CEO: Michael Grant
New Funding: $10 million
Backers: Trinity Ventures, New Strategic Partners, Juniper Networks, Seagate
Focused on elastic cloud infrastructure, Cloudscaling's Open Cloud System (OCS) is an OpenStack infrastructure-as-a-service (IaaS) product designed to enhance performance and efficiency for enterprises, SaaS providers and cloud service providers. The product integrates with JunosV Contrail, Juniper’s virtual network control (VNC) technology. Since first quarter of this year, Cloudscaling's customer wins include LivingSocial, EVault, Ubisoft and DataFort.
Headquarters: Cambridge, Mass.
CEO: Fred Shilmover
New Funding: $8 million
Backers: DFJ, Atlas Venture
InsightSquared, which has developed a Salesforce analytics product for small to medium-sized customers, intends to use the additional capital to accelerate product development. The company's strategy is based on easy and low-cost deployment, combined with a variety of pre-loaded sales report templates to further support ease of use.
Headquarters: Portland, Ore.
CEO: Antony Falco
New Funding: $3 million
Backers: True Ventures, Frontline Ventures, Resonant Partners
Orchestrate, Inc. is developing technology designed to streamline the development of applications to be used amid multiple databases. The company's objective is to replace the databases that form the foundation of current application development and operations with the company's own API, as a means of contributing to greater efficiencies and improved user experience.
Headquarters: San Jose, Calif.
CEO: Randy Chou
New Funding: $25 million
Backers: Meritech Capital Partners, Matrix
Partners, Khosla Ventures, Opus Capital, Chevron Technology Ventures
Panzura, which specializes in cloud storage solutions, intends to apply the new capital toward extending its sales presence into the Asia-Pacific region while also continuing to scale its sales, marketing and engineering operations in the U.S. and EMEA. The company also reports that it grew its customer base by 700 percent in 2012 and has already exceeded 2012 bookings in the current year. Expansion of its channel ecosystem is also planned.
Headquarters: San Francisco
CEO: Christophe Bisciglia
New Funding: $15 million
Backers: Canaan Partners, New Enterprise Associates, Google
Big data analysis software developer WibiData intends to use the cash infusion to accelerate its product development and further support sales and marketing initiatives. Built on the Kiji open-source framework, the company's software manages and analyzes huge volumes of data about user behavior, including profile data and log-oriented transactional data.