Follow The Money: 21 Recent Tech VC Investments In February

February Roundup
Even though it was a short month, February was a busy one for tech venture capital. Investments rolled in for big data, security, cloud and networking solutions, to name a few. Take a look at some of the up-and-coming startups and established companies that reeled in millions of dollars to build innovative offerings for the channel.

Dude Solutions

Headquarters: Cary, N.C. and New York
CEO: Kent Hudson
New Funding: $100 million
Round: Growth Capital
Backers: Warburg Pincus

Dude Solutions produces Software-as-a-Service for facility management, helping provide a solution for maintenance requests, preventative maintenance schedules, capital replacements, facility use and more. Its products, SchoolDude and FacilityDude, are used by school districts, colleges, universities, governments, health-care and other industry groups. The company already has more than 8,000 clients for its solutions and plans to use the additional funding to continue to expand its customer base as well as bring on additional sales and marketing staff to support those efforts.

Splice Machine

Headquarters: San Francisco
CEO: Monte Zweben
New Funding: $15 million
Round: B
Backers: InterWest Partners, Mohr Davidow Ventures

Splice Machine says it offers the industry's only transactional real-time SQL-on-Hadoop database for dealing with big data. The company said it will use the new $15 million in funding to push forward product development and grow its team before it releases its beta offering this year. Right now, the product is in use by around 50 enterprises.

"For companies that want to leverage the cost and scaling advantages of Hadoop, they can finally replace traditional relational databases like MySQL, PostgreSQL and Oracle with Splice Machine because it is a real RDBMS on Hadoop," said Zweben. "We're confident that this next round of funding will enable us to revolutionize the Hadoop marketplace by powering real-time operational and analytical applications."


Headquarters: Mountain View, Calif.
CEO: Ken Klein
New Funding: $75 million
Round: E
Backers: Insight Venture Partners, Lightspeed Venture, Menlo Ventures, NEA

In anticipation of an IPO, Tintri has raised an additional $75 million in venture capital funding, bringing the company's total funding to $135 million. Tintri is a producer of application-aware storage for virtualization and cloud environments. The company has seen triple-digit year-over-year growth, and says it will use the new funding to further accelerate that growth globally, innovate the technology and scale support operations.


Headquarters: Waltham, Mass.
CEO: Patrick Morley
New Funding: $38.25 million
Round: Undisclosed
Backers: Atlas Venture, .406 Ventures, Highland Capital Partners, Kleiner Perkins Caufield & Byers, Sequoia Capital, Blackstone

As part of a deal that merged Bit9 with Carbon Black, Bit9 received $38.25 million in funding to push forward growth for the now combined companies, operating under the Bit9 name. The union brings together Bit9's threat protection for endpoints and servers with Carbon Black's architecture that enables rapid installation of security solutions. The latest round of funding brings Bit9's total venture capital raised to $120 million.


Headquarters: San Jose, Calif.
CEO: Robert Reid
New Funding: $45 million
Round: Undisclosed
Backers: Battery Ventures, Bessemer Venture Partners, Costanoa Venture Capital, Emergence Capital, Sigma Partners, Split Rock Partners, Morgan Creek Capital Management, Silicon Valley Bank

Intacct, a cloud financial management and accounting software company, has raised an additional $45 million in funding to put toward company growth and product development. The funding was a mix of venture capital and a debt package, with $30 million coming from venture capital partners and the remainder in a debt package from the Silicon Valley Bank. Intacct said its channel partners in particular have seen a 60 percent growth in new customer acquisitions and see the largest amount of growth as they switch clients from outdated systems to Intacct's cloud-based financial software.


Headquarters: San Jose, Calif.
CEO: Rehan Jalil
New Funding: $6.3 million
Round: A
Backers: Mayfield Fund

Elastica announced $6.3 million in Series A funding from the Mayfield Fund earlier this month, and used the occasion to finally emerge from stealth mode with the launch of CloudSOC. The newly released solution helps secure cloud applications and services for enterprise IT and includes add-on apps for audit, granular traction visibility, real-time threat detection, security controls and after-incident analysis.


Headquarters: Palo Alto, Calif.
CEO: Deidre Paknad
New Funding: $2.75 million
Round: A
Backers: Granite Ventures, Opus Capital, Crosslink, Shea Ventures

Workboard is creating an application for goal and status reporting for enterprise managers. The product is still in private beta, but it will be able to use $2.75 million in venture capital funding to push forward product development and build out a customer base. Workboard helps companies engage employees in long-term goals as well as coordinate work and keep track of project results.


Headquarters: Waltham, Mass.
CEO: Neal Creighton
New Funding: $15 million
Round: B
Backers: Venture Capital unit of Siemens (SFS VC), Goldman Sachs, Fairhaven Capital, private financiers

Following a surge in demand, CounterTack added $3 million in venture capital funding from the Venture Capital unit of Siemens to round off its Series B funding at $15 million. CounterTack's Sentinel platform provides real-time security threat detection for enterprise clients. Enterprise security teams can use the platform not only to respond to current threats, but also identify trends and characteristics of attacker behavior to defend against future threats. After securing the venture capital funding, CounterTack also received an undisclosed amount of additional funding from OnPoint Technologies, a venture capital fund by the U.S. Department of Defense to develop products that interest the U.S. Army.

Spire Technologies

Headquarters: Bangalore, India
CEO: Saurabh Jain
New Funding: $8 million
Round: A
Backers: Undisclosed

Spire Technologies uses big data to help customers keep track of current and future talent. The program uses a contextual search engine to help recruit new talent and keep track of current employees. It helps find applicants with appropriate skill bases and then match them to projects that use their skills as well as helping employers detect employee fraud. Already companies such as Alto, Cognizant Technology Solutions and JDA Software have picked up the software from the company and processed more than 700,000 candidates between them.


Headquarters: Irvine, Calif.
CEO: Stuart McClure
New Funding: $20 million
Round: B
Backers: Blackstone, Khosla Ventures, Fairhaven Capital, private investors

Cylance uses an artificial intelligence platform for threat detection, which McClure said will help defenders fight back against attackers that have outpaced their ability to stop them. The key, he said, is using math and algorithms to detect threats and evolve to learn new ones. It takes the human guesswork out of the vendor equation, McClure said, and just "trusts the math." The company will use the new funding to continue growing its platform and market strategy.


Headquarters: Menlo Park, Calif.
CEO: Yaniv Alfi
New Funding: $5 million
Round: A
Backers: BRM Group, Opus Capital

CyberSense's CyberSense360 platform is used by Global 2000 enterprises to detect, analyze and repel malware attacks. Its on-premise or cloud-based cybersecurity solution traps the zero-day malware before it can harm user systems. The solution is already in use by enterprises in financial, health-care, retail, pharmaceutical, national critical infrastructure and more. CyberSense plans to use the new funding to further product development.


Headquarters: Sarasota, Fla.
CEO: Oscar Callejas
New Funding: $36 million
Round: C
Backers: Bedford Funding

Voalte works to improve the medical experience with smartphones, giving doctors and other health-care personnel access on-the-go to important personal health records, medical alerts, secure text messages and more. Their mobile solution already is in use by more than 35,000 caregivers across the country. Voalte will use the new funding to grow the company, engineering team and support capabilities in order to grab a bigger share of the $10.2 billion mobile health industry predicted by 2018.

Sideband Networks

Headquarters: Sunnyvale, Calif.
CEO: Zane Taylor
New Funding: $12 million
Round: A
Backers: Undisclosed

One of CRN's "10 Coolest Networking Startups Of 2013," Sideband has received $12 million in Series A funding to continue product development and grow marketing efforts. The company, launched in November 2013, provides an application-aware performance monitoring solution for network management and traffic monitoring. The product meets the four networking needs of the CIO, the company said, by providing a single-pane-of-glass management system, live traffic analytics, the ability to compare live and older data and network mapping for abnormalities.


Headquarters: Sunnyvale, Calif.
CEO: Bill Beckett
New Funding: $5.6 million
Round: A
Backers: Oxygen Ventures

Funding came all the way from Melbourne, Australia's Oxygen Ventures for networking startup Saisei, which raised $5.6 million in Series A funding. The company is hoping to further develop its software-based NFV/SDN solutions and expand globally over the next year. The solution provides visibility into enterprise and solution provider IP networks and replaces costly hardware and tools for networks.


Headquarters: San Francisco
CEO: Ken Hoang
New Funding: $5.6 million
Round: A
Backers: Blumberg Capital, U.S. Venture Partners, angel investors

Strevus' patent-pending regulatory compliance solution helps financial institutions better manage and communicate compliance between clients and regulators. It's a problem for financial institutions these days, the company said, to keep up with all of the requirements and global mandates all at once, often resulting in duplicate information requests. The Strevus solution helps remove that problem as well as create efficiencies and cut operating costs. The company will use the latest round of funding to further product development.


Headquarters: Boston
CEO: Raj Aggarwal
New Funding: $16 million
Round: C
Backers: Foundation Capital, Polaris Partners

After tripling revenue for the fifth straight year, Localytics has landed $16 million in venture capital funding to continue product development, grow internationally and increase sales and support. Localytics provides an analytics and marketing for mobile and Web apps, providing actionable data and a personalized app experience. Big-name companies have already adopted Localytics' platform, including ESPN, Clear Channel, eBay, Fox and Microsoft. The latest round of funding brings the company's total funding to $25 million.


Headquarters: London
CEO: Andrew McGregor
New Funding: $41 million
Round: C
Backers: Dawn Capital, West Coast Capital, Frog Capital, ePlanet Capital, WPP, Wti

In one of the largest venture capital raises in its category, big data company eCommera has raised $41 million in Series C funding. The global company creates a Software-as-a-Service solution for retailers looking to capitalize on omni-channel commerce through cloud-based order management and big data platforms. It will use the new funding to roll out the next generation of its solution to retail clients.


Headquarters: Redwood City, Calif.
CEO: Greg Martin
New Funding: $4 million
Round: A
Backers: Google Ventures, Paladin Capital Group, Tom Reilly (Cloudera CEO), Hugh Njemanze (former CTO and Founder of ArcSight)

Instead of dealing with threats one by one, ThreatStream allows companies to take quicker action against threats by drawing connections between them through its Optic platform. Until organizations can learn to analyze and get ahead of threats, they will continue to be vulnerable, Martin said. The SaaS-based program operates within a public or private cloud and utilizes Internet crowd-sourcing for better threat indicator insight and machine-learning from within the organization to further detect threats. The new funding will help ThreatStream further develop the product with additional layers for enterprise and government clients.


Headquarters: Acton, Mass.
CEO: Dev Gupta
New Funding: $15 million
Round: B
Backers: Intel Capital, Paladin Capital, Lockheed Martin Corporation

Newlans is working to develop cutting-edge RF solutions for smartphones. The latest round of funding will bolster the commercialization of its latest Programmable Duplexer, which targets front-end radio frequencies for 4G LTE, which will help adopting companies reduce time and cost to market for mobile devices. The product is in response to rising problems in creating cost- effective multimode mobile devices as LTE bands expand and more of the world adopts carrier aggregation.


Headquarters: San Francisco
CEO: Paul Biggar
New Funding: $6 million
Round: A
Backers: DFJ

With a goal of making developers more productive, CircleCI has grown rapidly since its launch two years ago, with more than 1,000 customers already despite not doing any marketing or advertising. The CircleCI project provides hosted continuous integration and deployment for developers, and the company plans to use the new funding to make the continuous integration more scalable and powerful and extend the product to the enterprise.

Nok Nok Labs

Headquarters: Palo Alto, Calif.
CEO: Phillip Dunkelberger
New Funding: $16.5 million
Round: B
Backers: Lenovo Group Limited, DCM, ONSET Ventures

Bringing its total funding to $31.5 million, Nok Nok Labs has raised $16.5 million to put toward developing better solutions around online authentication for modern computing. Its NNL S3 authentication suite was released earlier in the month and is the first centralized platform for FIDO-Ready devices. In addition to continuing product development, the new funding will be used to drive forward sales, marketing and growing industry partnerships, the company said.