• Meet BoardList, a Growing Database of 600-Plus Board-Ready Women

    img-article-sukhinderThere are many in Silicon Valley who’d like to find better ways to integrate female operators and investors into the tech scene but who think it will simply take time – time for more women to enter engineering programs, time for more women to join tech startups, and time for more women to form their own venture firms, as some have begun to do.

    Sukhinder Singh Cassidy is not one of those people. Yesterday afternoon, Cassidy took the wraps off an idea she’s been working on for the last couple of months called BoardList. In a nutshell, it’s an online repository of more than 600 women who are “board ready” and who, Cassidy believes, can and should be placed on the boards of early-stage startups.

    Her argument is twofold: First, broadly speaking, most companies don’t think about an independent board member until they’ve hit their Series C (or even later) funding round. Until that point, they tend to rely heavily instead on advisers. But that’s a mistake, says Cassidy, who has held a variety of operational positions in Silicon Valley over the last 15-plus years and is today the founder and CEO of the venture-backed startup Joyus.

    Continue reading here.

  • StrictlyVC: July 15, 2015

    Happy Wednesday, everyone. It’s our last day up here in Aspen and we’ll be sorry to leave it, though we’re pretty zonked at this point. Big thanks to Battery Ventures for hosting a very fun dinner at the end of a long day yesterday, one that included an equally lively cocktail party hosted by venture capitalist Gary Lauder and his wife, Laura. It’s been great seeing so many StrictlyVC readers, especially those of you we hadn’t met in person previously.:)

    —–

    Top News in the A.M.

    More Americans are getting their news on Facebook and Twitter, according to a new Pew survey.

    —–

    Bill Maris on Rising Valuations, Biggest Misses, and More

    At Fortune’s Brainstorm Tech conference yesterday, senior editor Dan Primack hosted a panel of investors who were asked to share their thoughts on the current – and future – state of the venture market.

    The VCs covered a lot of ground. We happened to focus in on what Bill Maris of Google Ventures had to say. You can find some notes from the discussion here.

    —–

    New Fundings

    CircleBack, a three-year-old, Vienna, Va.-based contact intelligence platform, has raised $12 million in new funding led by TDF Ventures, with participation from earlier backers Grotech Ventures, Syncom Venture Partners, and CNF Investments.

    Credit Benchmark, a three-year-old, London-based company that operates a contributed data model that’s focused on gathering credit risk information from major global banks, has raised $20 million in Series B funding led by Balderton Capital. Index Ventures, which led the company’s $7 million Series A round last year, also participated in the funding. More here.

    Crew, a two-year-old, Montreal, Quebec-based curated platform connecting designers and developers with vetted clients that need website, mobile app, or other design work done, has raised $8.5 million in funding led by Accomplice (formerly Atlas Venture), with participation from iNovia Capital, Real Ventures, Boldstart Venture Capital, BDC Capital, AngelList, Launch Capital, and LDV Capital. The investment brings Crew’s total funding to date to $11 million. More here.

    DataCamp, a two-year-old, New York-based online data-science learning platform, has raised $1 million in seed funding led by Accomplice. The company had raised $300,000 in seed money previously. More here.

    Delphix, a seven-year-old, Menlo Park, Ca.-based “data-as-as-service” startup, has raised $75 million in new funding led by Fidelity Management and Research Company. Other participants in the round include Credit SuisseThe Kraft Group, and returning investors Greylock Partners, Lightspeed Venture Partners, and Icon Ventures. The company has now raised a total of $119.5 million. TechCrunch has more here.

    DemandBase, a nine-year-old, San Francisco-based marketing software company, has raised $30 million in fresh funding led by SageView Capital, with participation from earlier backers Adobe Systems, Altos VenturesCostanoa Venture Capital, Greenspring Associates, Salesforce VenturesScale Venture Partners, and Sigma West. The company has now raised $90 million altogether. Fortune has more here.

    Freshly, a three-year-old, New York-based company that delivers ready-made, gourmet meals inspired by the paleo diet to customers’ doors, has landed $7 million in Series A funding led by Highland Capital Partners, with White Star Capital and Jason Finger, a co-founder of Seamless, participating. Venture Capital Dispatch has more here.

    HackerRank, a three-year-old, Mountain View, Ca.-based technical talent platform used by programmers to hone their skills, has raised $7.5 million in funding from Recruit Holdings. The company has now raised $19.9 million altogether, shows Crunchbase. More here.

    HopSkipDrive, a year-old, San Francisco-based “Uber for kids” that let’s parents set pre-scheduled pick-up times for their kids with vetted drivers (it competes directly with another startup called Shuddle), has raised $3.9 million in seed funding led by Upfront Ventures, with participation from FirstMark Capital, Maveron, BBG Ventures, and Joanne Wilson among others. TechCrunch has more here.

    InVision, a four-year-old, New York-based company whose prototyping tools allow designers to build interactive, high-fidelity, realistic web and mobile mockups and prototypes, has raised $45 million in Series C funding led by Accel Partners, with participation from earlier investors FirstMark Capital and Tiger Global ManagementMore here.

    Mobikon, a six-year-old, Singapore-based company that makes cloud-based software to help restaurants manage almost all aspects of their businesss, has raised $2.3 million in new funding led by returning investor Jungle Ventures. It has now raised $5 million altogether. TechCrunch has more here.

    Picwell, a three-year-old, Philadelphia, Pa.-based predictive recommendation engine focused around health plan selection, has raised $4 million in Series A funding led by MassMutual Ventures. More here.

    Rescale, a four-year-old, San Francisco-based cloud simulation platform company, has raised $6.4 million in funding from a long list of big-name investors, including Sam Altman, Jeff Bezos, Richard Branson, Paul Graham, Ron Conway, Chris Dixon, and Peter Thiel. TechCrunch has more here.

    Scratch, a year-old, Cambridge, Ma.-based online and mobile shopping service that connects consumers with “experts” who send recommendations for things like gifts, clothing, home decor and other items, has raised $3.6 million in seed funding led by Bessemer Venture Partners, with participation from NextView Ventures, Red Swan Ventures and Blue Apron CEO Matt Salzberg. More here.

    Spoon University, a 1.5-year-old, New York-based  website to share recipes, health and lifestyle stories, restaurant reviews, quizzes, and other food-related content, has raised $2 million in seed funding led by SoftTech VC, with participation from Joanne Wilson, Lerer Hippeau Ventures, Box Group,Vayner RSE, BBG Ventures, MATH fund, Howard Morgan, Project Mayhem Ventures, Kosinski Ventures, and RuggedVC. More here.

    Ticketfly, the seven-year-old, San Francisco-based software company that runs a ticketing platform for all kinds of live events, has raised $50 million in Series D funding led by the private equity firm Riverwood Capital. The company has now raised at least $87 million from investors, shows Crunchbase. More here.

    Zesty, a 1.5-year-old, San Francisco-based food-delivery startup that offers an office catering program, has raised $17 million in Series A funding led by Index Ventures, with participation from Founders Fund and previous investor Forerunner Ventures. The company has now raised $20.7 million in funding altogether. TechCrunch has more here.

    Zeta Interactive, an eight-year-old, New York-based big data and marketing analytics company, has raised $125 million in new equity funding from GSO Capital Partners and Franklin Square. The company has now raised $205 million altogether, shows Crunchbase. Fortune has more here.

    —–

    Exits

    Wish, a well-funded four-year-old, San Francisco-based mobile commerce platform, has acquired Locket, a two-year-old, San Francisco-based startup that makes lockscreen apps for Android handsets. Terms of the acquisition were not disclosed. Locket had raised $3.2 million from Great Oaks Venture Capital, Turner Broadcasting and Tyra Banks. TechCrunch has more here.

    —–

    People

    Brad Feld of Foundry Group guts a venture firm and a co-founder who were formerly business partners of Foundry over a recapped seed round. Interesting stuff.

    Flipkart, India’s biggest e-commerce company, is making two tech hires from West Coast: Yahoo’s VP of analytics, Eric Lange, and Dan Rawson, who has been serving as the general manager of North America Fulfillment at Amazon. Flipkart’s chief product officer Punit Soni “is building his team A, [and] there will be more talent coming from the Valley,” says a source, talking to the The Economic Times.

    Uber has reached a tentative settlement in a lawsuit brought by the family of a 6-year-old girl who died in a San Francisco car accident, according to court filings. Reuters has more here.

    —–

    Essential Reads

    Google has confirmed that a buy button is coming soon to mobile search results.

    OkCupid‘s founders want to bring encyrpted email to the masses (and Andreessen Horowitz has given them $10.8 million to try).

    Twilio, the startup that lets developers integrate voice, text and other communications services into mobile and web apps by way of a set of APIs, is offering early shareholders liquidity via a repurchase offer. TechCrunch has more here.

    —–

    Detours

    Six super weird potential side effects of the California drought.

    —–

    Retail Therapy

    1964 904 GTS Porsche. Wowza.

  • Bill Maris on Rising Valuations, Biggest Misses, and More

    54034ab0b07716f63df1f128_bill-marisAt Fortune’s Brainstorm Tech conference yesterday, senior editor Dan Primack hosted a panel of investors who were asked to share their thoughts on the current – and future – state of the venture market.

    The VCs covered a lot of ground. We happened to focus in on what Bill Maris of Google Ventures had to say. You can find some notes from the discussion here.

    Image courtesy of Vanity Fair

     

     

     

     

     

  • StrictlyVC: July 14, 2015

    Happy Tuesday, dear readers! We’re still at Fortune’s Brainstorm Tech conference in Aspen, which is crammed with great content. As we arrived, we caught a talk by YouTube head Susan Wojcicki, who said the video unit’s priorities right now are “mobile, mobile, mobile.” We were also wowed by former Googler turned U.S. CTO Megan Smith, who made a persuasive case (over the loudest thunderstorm we’ve ever heard) for why many others in tech should consider public service, at the state, federal, and even international level. “Show up where you are rare,” she told attendees.

    We’re actually racing off to yet another panel discussion this morning, so apologies for a somewhat abbreviated newsletter. More soon!

    —–

    Top News in the A.M.

    hoax story this morning suggested that Twitter is on the verge of being acquired for $31 billion. While it lit up Twitter for a while, Twitter cofounder Evan Williams suggested at the Brainstorm conference this morning that the company isn’t interested in being bought (at least right now). “No, not at this time,” he answered when asked if Twitter might be better off under an umbrella company.

    —–

    Andrew Braccia’s Big Bet on Slack

    Andrew Braccia of Accel Partners doesn’t tweet or write blog posts. He rarely talks with the media. But that doesn’t mean the 39-year-old isn’t working it. In fact, Braccia may have landed as big a deal for Accel as Facebook, whose $12.7 million Series A investment produced billions of dollars for its investors.

    That company? Slack.

    I had coffee with Braccia last week to ask about his early bet on the company, which Accel led with help from Andreessen Horowitz. It could become the defining deal of Braccia’s career, despite his other prescient bets, including on the high-profile Hadoop software company Cloudera (expected to go public sooner than later); Vox Media (owner of The Verge, SB Nation, Vox and Recode); and the 30-year-old, fast-growing online learning company Lynda.com, which had raised nearly $300 million from investors in recent years and announced in April that it was being acquired by LinkedIn for $1.5 billion.

    Our chat, edited for length, here.

    —–

    New Fundings

    Arivale, a year-old, Seattle-based company that combines genetic analysis with personal coaching to put individuals on a scientific path to wellness, has raised $36 million in Series B funding led by ARCH Venture Partners and Polaris Partners, with participation from Maveron. Geekwire has more here.

    FanDuel, the six-year-old, New York-based daily fantasy sports startup, has raised $275 million in new venture funding at a valuation “well north” of $1 billion, according to a Recode source. The round was led by KKR and included new investors Google Capital and Time Warner Investments with Turner Sports. Existing investors Shamrock Capital, NBC Sports VenturesComcast Ventures, Bullpen Capital, Pentech Ventures and Piton Capital were also involved. More here.

    Fastacash, a three-year-old, Singapore-based fintech startup— it acts as an intermediary for banks that want to get into social payments — has raised $15 million in Series B funding led by Rising Dragon SingaporeLife.SREDAUVM 2 Venture Investments, and undisclosed existing investors. The company had previously raised $8.5 million. TechCrunch has more here.

    MySmartPrice, a four-year-old, Hyderabad, India-based price comparison and search site, has raised $10 million in fresh funding led by Accel Partners, with participation from Helion Venture Partners. The startup had previously raised $1.3 million across two prior funding rounds. TechCrunch has more here.

    Pager, a year-old, New York-based healthcare on-demand service, has raised $14 million in Series A funding from New Enterprise Associates, Sound Ventures and earlier investors Goodwater Capital, Lux Capital andMontage Ventures. Crain’s New York has more here.

    Paktor, a two-year-old, Singapore-based social networking platform for singles, has raised $7.4 million in Series B funding from earlier investor Vertex Venture Holdings and new backers Majuven, and Convergence Ventures. TechCrunch has more here.

    RealtyMogul.com, a two-year-old, L.A.-based leading online marketplace for real estate investing, has raised $35 million in Series B funding led by Sorenson Capital with additional funding from Canaan Partners, the lead investor in the company’s Series A financing.

    StyleSeat, a four-year-old, San Francisco-based company that helps independent beauty pros schedule clients and manage their business, has raised $25 million in Series B funding led by Fosun Kinzon Capital. Lightspeed Venture Partners, Cowboy Ventures and Slow Ventures also participated. The company had previously raised $14 million, including from Uber cofounder and CEO Travis Kalanick and entertainer Ashton Kutcher. Fortune has more here.

    —–

    New Funds

    Workday, the 10-year-old, Pleasanton, Ca.-based publicly traded human resources software maker, is launching its own investment fund called Workday Ventures that will solely focus on data science and machine learning startups. Business Insider has more here.

    —–

    Exits

    The Seattle-based mobile remittance app Remitly — which lets people in the U.S. send money to India or the Philippines — has acquired Talio, a picture messaging app co-founded by ex-Amazon engineers. The terms of the deal have not been disclosed. TechCrunch has the story here.

    Match Group, the IAC subsidiary, is acquiring the dating site PlentyOfFish for $575 million in cash. TechCrunch has more here.

    —–

    People

    The rapper known as 50 Cent filed for bankruptcy protection in Connecticut yesterday as a lawsuit against him over a controversial online video plays out in a New York court. His boxing promotion company, SMS Promotions, has also filed for bankruptcy, listing assets and debt of $100,000 to $500,000 in May. 50 Cent, whose real name is Curtis Jackson, is also a tech entrepreneur: In late 2011, he formed a consumer electronics company in Delray Beach, Fla., called SMS Audio. The company, which stands for studio mastered sound, makes headphones and other electronics. No word on what happens to that company now. Bloomberg has more here.

    Chris Gomersall has spent the past three years working with brands and agencies at Facebook, where he was the first creative strategy leader. Now he’s leaving to run his own startup, Atomized. More here.

    Tumblr, Yahoo’s microblogging and social service, has tapped Comedy Central’sDon Steele as head of audience development. Tumblr also has named Evan Minskoff, previously with Ovation TV, head of marketing strategy and operations. Variety has the news here.

    In a post on Reddit late Sunday, Yishan Wong, Reddit’s former chief executive and Ellen Pao’s predecessor, accused Alexis Ohanian, a Reddit co-founder, of firing a popular employee, Victoria Taylor, which caused a major-league backlash against the company and led to the resignation last week of Pao.“When the hate-train started up against Pao,” Wong wrote, “Alexis should have been out front and center saying very clearly ‘Ellen Pao did not make this decision, I did.’” Wong added, “I used to respect Alexis Ohanian. After this, not quite so much.” The New York Times has the story here.

    In related Reddit news, the company’s chief engineer of the last two months, Bethanye Blount, has just quit, saying she has lost confidence in the direction of the company. Recode has the story here.

    —–

    Essential Reads

    Facebook’s new security chief, Alex Stamos, is calling for Adobe Flash to be killed off.

    Venture-backed Wealthfront was called out yesterday by Mozilla Firefox co-creator Blake Ross, who thinks the company is wrongly charging its clients “Wall Street prices” for “Silicon Valley tech.”

    —–

    Detours

    How to behave at the airport.

    —–

    Retail Therapy

    Calm Before the Storm beer. (We could use these in Aspen right now.)

  • Andrew Braccia’s Big Bet on Slack

    518951f510641_andrew-lgAndrew Braccia of Accel Partners doesn’t tweet or write blog posts. He rarely talks with the media. But that doesn’t mean the 39-year-old isn’t working it. In fact, Braccia may have landed as big a deal for Accel as Facebook, whose $12.7 million Series A investment produced billions of dollars for its investors.

    That company? Slack.

    I had coffee with Braccia last week to ask about his early bet on the company, which Accel led with help from Andreessen Horowitz. It could become the defining deal of Braccia’s career, despite his other prescient bets, including on the high-profile Hadoop software company Cloudera (expected to go public sooner than later); Vox Media (owner of The Verge, SB Nation, Vox and Recode); and the 30-year-old, fast-growing online learning company Lynda.com, which had raised nearly $300 million from investors in recent years and announced in April that it was being acquired by LinkedIn for $1.5 billion.

    Our chat, edited for length, here.

  • StrictlyVC: June 10, 2015

    Happy Friday, everyone, we hope you have an outstanding weekend!

    Quick reminder that we’ll be in transit en route to Fortune’s Brainstorm conference early Monday so we will not be publishing. We’ll see you back here Tuesday, though.:)

    —–

    Top News in the A.M.

    Samsung is reportedly bumping up the launch of its smartphone line-up to August to gain some ground against Apple, which typically has some big reveals of its own in September. The WSJ has the story here.

    —–

    Y Combinator’s Big Future

    There’s been a lot of talk in venture circles lately about “signaling risk” and seed-stage investments. The gist: When earlier backers are high-profile venture firms, and these firms decide not to participate in a startup’s next round, it hurts the company’s ability to raise a Series A round.

    Although this concern isn’t exactly new, recent numbers published by the firm CB Insights suggest that the issue is worth revisiting. According CB Insights’s findings, while 35 percent of all venture-backed, seed-funded companies go on to raise a Series A, a company that counts a respected venture firm among its seed backers has a 51 percent chance of raising a Series A if that firm participates in the round.

    That’s the good news. The bad: If the venture firm decides not participate in the startup’s Series A, the company’s chances of closing its Series A round drop to 27 percent.

    The study made us think about Y Combinator, the popular accelerator program, and its plan for the future. Right now, Y Combinator has the best of both worlds. It can make seed-stage investments at scale, for sizable stakes in startups, and not worry in the least about signaling risk: no one expects it to pour more of its capital into follow-on rounds. Its very model is premised on finding and funneling smart companies to other Series A, B, and C investors.

    Recently, however, some have speculated that Y Combinator is heading into a future where it is both seed and growth-stage investor.

    More here.

    —–

    New Fundings

    Aptimmune Biologics, a five-year-old, Champaign, Il.-based mucosal vaccine company developing novel swine vaccines, raised $2.75 million in funding from Arsenal Capital Management, Fox Ventures and a group of Midwest angel investors. More here.

    BeneStream, a four-year-old, New York-based health technology company, has raised $4.26 million in Series A funding led by TLSG Investments, with participation from Kapor Capital, Relativity Healthcare Partners, and earlier backers, including Serious Change and individual investors. More here.

    BitFury Group, a four-year-old, San Francisco-based bitcoin blockchain infrastructure provider and transaction processing company, has raised $20 million in funding from backers, including DRW Venture Capital, iTech Capital and Georgian Co-Investment Fund. TechCrunch has more here.

    Octopus, a 2.5-year-old, Tel Aviv, Israel-based startup that provides physical security systems for large facilities, has raised $2.5 million in funding from Singulariteam. TechCrunch has more here.

    —-

    New Funds

    BioStar Ventures, a 12-year-old, Petoskey, Mi.-based venture capital firm focused on medical device and connected health technologies in cardiovascular and orthopedic medicine, has raised  $68 million for its third, and largest, fund. FierceBiotech has more here.

    Not a new fund exactly, but: Cisco said yesterday that it plans on pouring $1 billion into the United Kingdom over the next three to five years years to boost the country’s technology sector, especially the burgeoning Internet of things market. Fortune has more here.

    —–

    Exits

    Splunk, the publicly traded operational intelligence software company, announced last night that it has purchased Caspida, a Palo Alto-based cybersecurity and threat detection company, for $190 million. The deal has already closed, the company reported. Caspida had raised $11.5 million from investors, shows Crunchbase (though it doesn’t list its backers). TechCrunch has more here.

    —–

    People

    Uber moved aggressively on Thursday to shut down a high-stakes case over the company’s designation of drivers as independent contractors, arguing among other things that most Uber drivers don’t even want to be employees. The Recorder has more here.

    Peter Read has left the European arm of Google Ventures almost a year after it was unveiled, reports TechCrunch. No word on why he left, though his departure leaves Eze Vidra, Tom Hulme, and Avid Larizadeh as the remaining GPs of the European arm.

    Intel Capital’s outgoing head honcho Arvind Sodhani on his career — and what’s next.

    Joshua Topolsky, the top digital editor at Bloomberg, has been fired from the company due to Michael Bloomberg’s frustration with the website. Politico has more here.

    A dozen candidates for Twitter‘s seach committee (plus Snoop Dogg).

    —–

    Essential Reads

    In recent weeks, Facebook has held preliminary discussions with the major record companies, seeking licensing deals to insert music videos into Facebook users’ feeds, reports the New York Times.

    The coder who encrypted your texts.

    —–

    Detours

    The curious truth about belly button fluff.

    —–

    Retail Therapy

    A replica of the bluetooth communicator used in the original “Star Trek.”

    Also amazing: The Knight Rider K.I.T.T. USB car charger.

  • Y Combinator’s Big Future

    y_combinator_logo_400-400x220There’s been a lot of talk in venture circles lately about “signaling risk” and seed-stage investments. The gist: When earlier backers are high-profile venture firms, and these firms decide not to participate in a startup’s next round, it hurts the company’s ability to raise a Series A round.

    Although this concern isn’t exactly new, recent numbers published by the firm CB Insights suggest that the issue is worth revisiting. According CB Insights’s findings, while 35 percent of all venture-backed, seed-funded companies go on to raise a Series A, a company that counts a respected venture firm among its seed backers has a 51 percent chance of raising a Series A if that firm participates in the round.

    That’s the good news. The bad: If the venture firm decides not participate in the startup’s Series A, the company’s chances of closing its Series A round drop to 27 percent.

    The study made us think about Y Combinator, the popular accelerator program, and its plan for the future. Right now, Y Combinator has the best of both worlds. It can make seed-stage investments at scale, for sizable stakes in startups, and not worry in the least about signaling risk: no one expects it to pour more of its capital into follow-on rounds. Its very model is premised on finding and funneling smart companies to other Series A, B, and C investors.

    Recently, however, some have speculated that Y Combinator is heading into a future where it is both seed and growth-stage investor.

    More here.

  • StrictlyVC: July 9, 2015

    Hi, good morning, readers. It is Thursday!

    A few quick things: If you are interested in coming to our Wednesday, September 16 event, you may want to pick up a ticket soon. (More than half have sold.) Speakers include Chamath Palihapitiya of Social + Capital; DFJ’s legendary cofounder Steve Jurvetson; investor-entrepreneur Tony Conrad of About.me and True Ventures; and Automattic founder Matt Mullenweg, among others. (We’re very excited about the full line-up.) If you’re interested in a sponsorship opportunity, we’d love to talk with you.

    We also want to let you know we will not be publishing StrictlyVC this coming Monday, as we’ll be en route to Fortune’s Brainstorm conference at a very early hour. We’ll be back in full-form on Tuesday, though.:)

    —–

    Top News in the A.M.

    Jawbone has just filed its third legal action against rival fitness tracker company Fitbit, this one seeking to block Fitbit from importing fitness trackers or their parts. The WSJ has the story here. (Interestingly, shareholders don’t seem phased; Fitbit’s shares have doubled in price to roughly $42 since their public market debut roughly a month ago.)

    IBM is this morning announcing new computer chips that are more powerful than any in existence.

    Uber has dropped out of the running to buy Nokia’s mapping business. Reuters has the story.

    —–

    New Fundings

    Afferent Pharmaceuticals, a six-year-old, San Mateo, Ca.-based drug developer focused on debilitating neurogenic disorders, has raised $55 million in Series C funding led by Fidelity Management & Research Company, with participation from Jennison Associates, New Leaf Ventures, Partner Fund Management, Redmile Group, Tekla Healthcare Investors, Tekla Life Science Investors, and an undisclosed public investment fund. More here.

    Amistad Energy Partners, a newly formed, Houston, Tex.-based independent oil and gas company, has raised $150 million in funding from Kayne Anderson Energy Funds and members of the management team, which includes four former BP executives. More here.

    Apester, a four-year-old, New York City-based digital storytelling platform for publishers that enables them to embed interactive units – polls, surveys, personality tests and video quizzes – in stories, has raised $5 million in Series A funding led by Mangrove Capital Partners, with participation from former AOL Video CMO Tal Simantov and other individual investors. More here.

    Clara Foods, a nine-month-old, San Francisco-based biotech that’s creating egg whites out of genetically modified yeast, has raised $1.7 million in seed funding from David Friedberg, Gary Hirshberg, Ali and Hadi Partovi, Scott Banister, and SOS Ventures. TechCrunch has more here.

    Collectabillia, a three-year-old, Bangalore, India-based celebrity commerce company that sells memorabilia autographed by celebrities, as well as fan merchandise, has raised $7.5 million in Series B funding from earlier investor Accel Partners. VCCircle has more here.

    Curely, a year-old, Newport Beach, Ca.-based mobile application that connects doctors and consumers around the world, has raised $2 million in seed funding led by Exponential Partners. More here.

    DigitalOcean, a four-year-old, New York-based cloud-hosting service built for developers, has raised a $83 million in Series B funding led by Access Industries, with participation from earlier backer Andreessen Horowitz, which led the company’s $37 million Series A round last year. The company has now raised $173.2 million altogether.

    Emma, a 12-year-old Nashville, Tenn.-based email service provider, has raised $5 million in equity and debt funding from Nashville Capital Network and Square 1 Bank. More here.

    Genymobile, a four-year-old, Redwood City, Ca.-based company at work on three different products that aim to make using Android much easier for Android developers, has raised $7.7 million from Alven Capital, with Bpifrance also participating. TechCrunch has much more here.

    Influitive, a 4.5-year-old, Toronto-based company focused on advocate marketing, has raised $30.5 million in Series B funding led by Georgian Partners, with participation from OurCrowd, DoCoMo Capital, BDC Capital IT Venture Fund, Hummer Winblad Venture Partners, Illuminate Ventures, Resolute Ventures, Relay Ventures, CommonAngels Ventures and First Round Capital. The company has now raised $41.8 million altogether, shows Crunchbase.

    Jinfuzi, a three-year-old, Shenzhen, China-based online wealth management firm, has raised $50 million in Series B funding led by the Chinese social networking firm Renrenaccording to China Money Network. Earlier backer Sequoia Capital also participated.

    Foody, a three-year-old, Ho Chi Minh City, Vietnam-based restaurant review app, has raised an undisclosed amount of Series B funding from the Singapore-based Internet company Garena. The company has previously raised two other rounds; its other investors include CyberAgent Ventures and Pix Vine Capital Investment. DealStreetAsia has more here.

    Karmic Labs, a two-year-old, San Francisco-based business-to-business payments infrastructure company, has raised $5 million in Series A funding led by Greycroft Partners. More here.

    Lendingkart, a year-old, Gujarat, India-based online lending company focused on small businesses, has raised $10 million in Series A funding from Saama Capital, Mayfield, and individual investors. More here.

    Lybrate, an 18-month-old, New Delhi, India-based, mobile-based platform that connects patients and doctors, has raised $10.2 million in fresh funding fromTiger Global Management, with participation from earlier backer Nexus Ventures. TechCrunch has more here.

    The Medical Memory, a seven-year-old, Phoenix, Az.-based medical video messaging platform that lets doctors record and securely share videos of patient visits, has raised $2.1 million in seed funding led by Provenance Venture Partners. More here.

    mLevel, a three-year-old, Chicago, Il.-based game-based learning platform for corporate customers, has raised $5 million in Series A funding from BIP Capital. More here.

    News In Shorts, a two-year-old, New Delhi, India-based mobile news app, has raised $20 million in Series B funding from earlier backer Tiger Global Management, which also led the company’s $4 million Series A in February. TechCrunch has more here.

    PandaDoc, a two-year-old, South San Francisco, Ca.-based company whose software product sits atop customers’ CRM tools to help manage quotes, proposals, contracts, and other collateral, has raised $5 million in funding led by Altos Ventures, with participation from TMT Investments and other unnamed investors. TechCrunch has more here.

    Pickup, a year-old, Addison, Tex.-based developer of an on-demand delivery app, has raised $600,000 in seed funding from undisclosed sources. The Dallas Business Journal has more here.

    Secoo, a four-year-old, Shanghai, Chinese-based luxury e-commerce site, has raised $55 million in Series E funding led by Ping An Ventures. More here.

    Touchten, a six-year-old Indonesia-based gaming studio, has raised an undisclosed amount of Series C funding led by Japanese mobile and social firm GREE, with 500 Startups as a follow-on investor. VentureBeat has more here.

    —–

    New Funds

    TLV Partners, a new Tel Aviv, Israel firm cofounded by Eitan Bek and Rona Segev, both formerly of Pitango Venture Capital, is looking to raise up to $100 million for its debut fund, shows an SEC filing first flagged by Fortune.

    —–

    Exits

    AOL, recently acquired by Verizon for $4.4 billion, is in the process of buying mobile ad network Millennial Media, sources tell TechCrunch. The rumored price: betwen $300 million and $350 million, a premium to its public market capitalization of $217 million.

    The 17-year-old security company Avast Software has acquired Remotium, a 2.5-year-old, San Mateo, Ca.-based company whose enterprise security services protect mobile devices. Financial details of the deal were not disclosed. According to Crunchbase, Remotium had raised $1 million from Draper Nexus Ventures.

    ViralNova, a one-person content company run by Canton, Ohio-based entrepreneur Scott DeLong, has been acquired by Zealot Networks in a deal worth roughly $100 million in cash and stock. Zealot was founded by former Maker Studios chief executive Danny Zappin last year. TechCrunch has the story here.

    —–

    People

    Netscape billionaire Jim Clark has a new super yacht — Comanche — and it’s expected to make a big ol’ splash at the upcoming Transatlantic Race. The WSJ has the story here.

    Ben Huh, the entrepreneur who founded Cheezburger, parent company to site I Can Has Cheezburger, is stepping down as CEO, with the company’s president and COO Scott Moore assuming the role. Huh announced the news on Medium. More here.

    —–

    Essential Reads

    Nick Bilton of the New York Times visited Twitter recently to see how its CEO search is coming along. He walked away more concerned than ever.

    Yahoo is introducing a more intense, daily form of fantasy sports that allows competitors to compete with real money. The San Jose Mercury News has more here.

    You can now tell Facebook what you want in your News Feed.

    9to5mac is reporting new details about Google Glass’s “enterprise edition.”

    —–

    Detours

    The people who barely sleep (and are fine)!

    The work the rest of us do when we’re in dreamworld.

    The 10 best islands in the world, according to travelers.

    —–

    Retail Therapy

    Zip line kit. You never know; it could come in handy(?).

  • StrictlyVC: July 8, 2015

    Happy Wednesday! (Though it kind of feels like it should be Thursday, doesn’t it? No? Just us?)

    —–

    Top News in the A.M.

    Didi Kuaidi, Uber’s biggest rival in China, confirmed that it has raised $2 billion in funding —  the largest private equity raise in the world and an amount that takes its cash reserves to $3.5 billion, it says. TechCrunch sources say the round values Didi Kuaidi at $15 billion.

    Yikes. Microsoft plans to cut as many as 7,800 jobs and write down roughly $7.6 billion on its Nokia phone-handset unit, wiping out nearly all of the value of a business it acquired just 14 months ago, reports Bloomberg.

    NYSE trading was halted a bit earlier owing to a technical issue. More here.

    Speaking of delays: United Airlines flights are no longer grounded this morning after its computer system malfunctioned, but press reports say to expect heavy delays throughout major airports. About 3,500 flights were affected and delays could reach 235 domestic and 138 international destinations.

    —–

    Longtime VC Paul Lee is Back — With a Startup Factory

    Over the last decade of so, Paul Lee had enjoyed a nice career as a venture capitalist. Last year, an idea began to nag at him, though, and in November, he left his job of several years, as an investor at Lightbank in Chicago, to pursue it with two other former Lightbank colleagues, Ryan Jeffery and Kathryn Saluke, and their friend Arman Ghosh.

    The fruit of their labor: nine-month-oldRoniin, a Chicago-based startup that spins off other startups — with a few twists that we haven’t seen before.

    More here.

    —–

    New Fundings

    Axtria, a six-year-old, Berkeley Heights, N.J.-based big data analytics company, has raised $30 million in Series C funding led by Helion Ventures, with participation from individual investors. TechCrunch has more here.

    Babbel, an eight-year-old, Berlin, Germany-based language learning service, has raised $22 million in funding led by Scottish Equity Partners, with participation from Reed Elsevier Ventures, Nokia Growth Partners, and VC Fonds Technology BerlinMore here.

    Chakratec, a two-year-old, Lod, Israel-based maker of an energy storage system based on kinetic batteries, has raised $2 million in Series B funding led by ZZRunner, a China-based firm. More here.

    Confluent, a 10-month-old, Mountain View, Ca.-based real-time data platform built around Apache Kafka, has raised $24 million in Series B funding led byIndex Ventures, with participation from Benchmark, which had led the company’s $7 million Series A. Fortune has more here.

    Core Informatics, a nine-year-old, Branford, Ct.-based maker of data management software for scientists, has raised $17.5 million in Series B funding led by Oak HC/FT, with participation from earlier investors. More here.

    GoodWorld, a 1.5-year-old, Washington, D.C.-based “company whose technology enables nonprofits to raise money more easily from their followers on social media networks, has raised $1.7 million in seed funding led by Nyca Partners. Camp One Ventures, Fenway Summer Ventures and others also joined the round. Venture Capital Dispatch has more here.

    IrisVR, a year-old, New York City-based startup aiming to create a suite of products that help edit, share and visualize 3D models in virtual reality, has raised $1.6 million in funding led by Indicator Ventures and Valar VenturesMore here.

    KnowledgeHound, a year-old, Chicago, Il.-based enterprise market research data-retrieval and visualization platform, has raised $1.2 million in seed funding from numerous angel investors, including Listen Ventures’s Jeff Cantalupo and Mitten Group founder Mark Mitten. More here.

    Leesa, a year-old, Virginia Beach, Va.-based online luxury mattress company, has raised $9 million in Series A funding at a post-money valuation of $45 million led by TitleCard Capital. More here.

    Mei.com, a China-based flash sales site, has received more than $100 million in fresh funding from Alibaba, reports TechCrunch.

    PipelineRx, a six-year-old, San Francisco-based medication management services and platform company focused on clinical telepharmacy, has raised $9.1 million in funding led by Mitsui & Co., with participation from McKesson Ventures and earlier backer AMN Healthcare. More here.

    Procept BioRobotics, a six-year-old, Redwood Shores, Ca.-based medical device company whose tool centers on a minimally invasive therapy to remove tissue in the the treatment of lower urinary tract conditions, has raised $42 million in funding led by Novo A/S, with participation from CPMG and others. More here.

    Salviol, a six-year-old, London-based anti-fraud and fintech startup, has raised €6.5 million ($7.2 million) in Series A funding led by Orange Growth CapitalMore here.

    Singapore Post Limited (SingPost), the national postal service provider, has received $206.85 million in fresh funding from Alibaba Holdings, which has increased its stake in the company to 14.5 percent in the process, reports TechCrunch. Alibaba will also invest $67.85 million for a 34 percent stake in SingPost subsidiary Quantium Solutions International, which provides logistics and warehousing solutions to more than 10 countries across Asia Pacific. Forbes has more here.

    VideoStitch, a three-year-old, Paris, France-based maker of video editing software, has $2.25 million from Alven Capital. More here.

    Wozlla, two-year-old, Beijing, China-based game developer, has raised $2 million investment from Greenwoods Asset Management. More here.

    Xiaozhu.com, a Shanghai, China-based home-rental company that competes with Airbnb, has raised $60 million from four private-equity firms: Morningside Venture Capital, Citic Capital Venture Partners, Joy Capital and Magic Stone Alternative. The round values the firm at more than $300 million, it tells the WSJ.

    ZeroTurnaround, an eight-year-old, Boston, Ma.-based maker of developer tools for creating software, has raised $5 million in Series B funding led by Bain Capital Ventures, with participation from Western Technology Investment. Both had backed the company previously. The company has raised $15 million altogether. More here.

    Zoomcar, a three-year-old, Bangalore-based self-drive car rental platform, has raised $11 million in fresh funding from Sequoia Capital, Empire Angels, and NGP. The new capital brings its total funding to $22 million. More here.
    —–
    New Funds

    Investors in Burrill Life Sciences Capital Fund III LP have tapped executives at San Francisco health-care firm Kearny Venture Partners to take on the role of general partner, reports Venture Capital Dispatch. The move comes after they dismantled the fund management team formed under the leadership of G. Steven Burrill. Burill was removed from the fund more than a year ago over unauthorized payments.

    Innovation Works, founded by Google China head Kai-Fu Lee, is looking to raise up to $300 million for a new fund, according to an SEC filing first flagged by Venture Capital Dispatch.

    —-

    Exits

    Capital One has acquired Oakland, Ca.-based Monsoon, a design studio, development shop, marketing house and strategic consultancy for an undisclosed terms. More here.

    —–

    People

    GoPro is getting more serious about content, seemingly. It just hired Charlotte Koh, who formerly led Hulu’s original content initiatives, in the newly created role of head of features and series. Variety has the story here.

    Bill Veghte, incoming CEO of SurveyMonkey, spoke with Bloomberg Television yesterday about his relationship with former CEO Dave Goldberg, saying Goldberg was going to name him to the company’s board the week that he died: “Yes, I had agreed to join the board and was looking forward to helping him and the rest of the board members build out what is I think a really remarkable opportunity.”  Said Veghte of Goldberg: “I remember when he first discovered SurveyMonkey, and he said, Bill, I found this great company that has — it’s a beautiful business that has so much potential in front of it.”

    The 22 most important people in Silicon Valley’s enterprise tech scene, per Business Insider.

    —–

    Jobs

    Visa is looking to add an associate to its corporate development and M&A team. The job is in San Francisco.

    —–

    Data

    U.S. venture capital firms continue to rake in new capital, according to a new report out this morning from Thomson Reuters and the National Venture Capital Association. According to its data, VCs raised $10.3 billion for 74 funds during the second quarter — an increase of 10 percent over the first quarter and a 39 percent increase by dollar commitments. More here.

    —–

    Essential Reads

    Apple has asked its suppliers to make a record-breaking number of new iPhones by year end. (Meanwhile, it looks like Apple Watch sales are tanking.)

    What Uber can learn from Airbnb‘s global expansion.

    The U.S. Court of Appeals for the Federal Circuit has rejected Intellectual Ventures‘s appeal in its case against Capital One, citing “unpatentable abstract ideas.”

    —-

    Detours

    A man crawled onto a Broadway stage to charge his phone.

    Get out the popcorn; the San Francisco version of “Million Dollar Listing” kicks off today on Bravo.

    —–

    Retail Therapy

    Star Wars cookie cutters.

    The Hot Tub Hammock. Eat your heart out, Chris Sacca.

  • Longtime VC Paul Lee is Back — With a Startup Factory

    Paul LeeOver the last decade of so, Paul Lee had enjoyed a nice career as a venture capitalist. Last year, an idea began to nag at him, though, and in November, he left his job of several years, as an investor at Lightbank in Chicago, to pursue it with two other former Lightbank colleagues, Ryan Jeffery and Kathryn Saluke, and their friend Arman Ghosh.

    The fruit of their labor: nine-month-old Roniin, a Chicago-based startup that spins off other startups — with a few twists that we haven’t seen before.

    More here.


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