Daily funding roundup - August 26, 2015

Mitos Suson · August 26, 2015 · Short URL: https://vator.tv/n/3fc0

Fanatics secured $300M; Spoonflower announced $25M; Velostrata raised $14M

  • Velostrata  provides on-demand hybrid cloud software that decouples compute from storage. What that does is enable enterprises to stream production workloads to and from the cloud in minutes, leave the storage on-premises and optimize performance end-to-end. The company, which came out of stealth mode on Wednesday, also announced that it has raised $14 million in a Series A funding round led by Norwest Venture Partners and Greylock IL Partners (83North). The company plans to use the funding to further build out its sales, marketing and support teams in North America and Europe, doubling its 25 person team over the next year.

  • Charge Communication Inc. a messaging app, just announced $1.7 million in seed funding and a new web client that lets users sync chats on their iOS and Android devices to desktop. The startup’s current investors and advisors include Pelion Venture Partners, Atlas Venture, Maiden Lane Ventures, Metamorphic Ventures, Cherubic Ventures, Craig Walker, the founder of GrandCentral (renamed Google Voice after its acquisition by the tech giant), Twilio co-founder John Wolthuis, and Slicehost co-founder Matt Tanase

  • Kolkata-based educational startup EazyCoach which is led by a 22-year-old city boy Om Agarwal has received angel funding from businessman Ravi Agarwal. Of the 200-odd startups incubating at the Nasscom 10,000 Startups Warehouse in the IT hub at Salt Lake, Kolkata EazyCoach.com was considered one of the brightest ideas with high business potential. EazyCoach help college aspirants get into their desired college, by providing them with dedicated help from admission experts, via an open marketplace. Incorporated in 2013, the team at EazyCoach has been visiting schools and colleges globally, from India to China to United States, to get a hands-on knowledge of an aspirant’s expectations.

  • The E.W. Scripps Co. has invested in Cintric, an Over-the-Rhine based consumer intelligence company that helps brands, publishers and retailers analyze rich behavioral data from potential customers and act on those insights with personalized experiences and messaging. Downtown-based Scripps invested $500,000 as part of a larger seed round of funding.

  • Docady, an iOS app that lets you store and manage all your important documents, has been doing well in the App Store since its official launch in mid-July, including being featured by Apple as a ‘best new app’ for the last few weeks. And to help continue with that momentum, the Tel Aviv-based startup has just closed a $1.5 million funding round. Investors include Pitango Ventures, and Disruptive, the VC fund from Tal Barnoach, Eilon Tirosh and various unnamed former AOL video execs. The new investment will be used to bring the app to more platforms, with Android up next, and for the development of additional ‘smart’ features to make your documents work harder for you.

  • BasharSoft, the startup behind leading Egyptian recruiting Wuzzuf, has spent the last 5 years surviving the turmoil of Egypt’s recent history. But it’s come through that to become a rare-commodity: An Egyptian company that has raised significant European VC cash. It’s just closed a Series A of $1.7 million from Sweden-based Vostok New Ventures and UK-based Piton Capital, in addition to previous investment from 500 Startups and Endure Capital. 

  • Palo Alto, California-based MocaCare, which has developed a device that tracks cardiovascular health, raised $2 million in a round led by JDM Mobile Internet Solutions with participation from EMB International and Atom Health Corporation. This brings the company’s total funding to $4 million to date. MocaCare will use the funds for growth in North America and China. 

  • Klaviyo, an intelligent platform for email, is setting its sights on changing that — which requires rethinking the space entirely, bringing complex data integrations into one-click switches for marketers, not engineers, to set up and use. The company announced a  $1.5 million funding round from Accomplice and select angels, including David Cancel (chief product officer at Hubspot), Elias Torres (founded marketing automation platform, Performable, acquired by Hubspot) and TJ Mahoney. Klaviyo will use the funding to build on an already impressive list of third-party one-click data integrations and expand sales and marketing efforts.

  • Resolution Games, a Stockholm, Sweden-based virtual reality (VR) games studio, closed a $6 million Series A funding round. The round was led by Google Ventures with participation from Creandum, Initial Capital, Bonnier Growth Media, Partech Ventures and others. The company intends to use the funds to grow its development teams to drive multiple games production while building a quality portfolio of IP for the VR market.

  • Benson Hill Biosystems, a Photosynthesis Company, secured an investment of $7.3 million in its Series A round of financing.  The funding will be used to further advance its PSKbase, a computational and systems biology-based platform that helps technology developers and breeders identify promising strategies to increase genetic gain in crop plants. The capital will also support additional field trials and other product development activities for traits that increase crop productivity by improving photosynthesis. The financing was led by Middleland Capital, an agriculture-focused venture capital firm, with co-investors Mercury Fund, Prelude Ventures, Prolog Ventures, Alexandria Venture Investments, Cultivation Capital, and TechAccel.

  • Providence Medical Technology, Inc., an innovator in tissue-sparing cervical spine technology, announced the closing of $12 million in new financing for the company. The proceeds will be used to further commercialize and expand its portfolio of DTRAX cervical fusion products designed to help patients suffering from cervical degenerative disc disease. The new financing of $12 million includes equity participation from existing investors Stanmore Medical Investments, Aphelion Capital and other existing private investors, and the establishment of a new debt facility with Silicon Valley Bank.

  • Spoonflower, an on-demand digital printing of custom fabric, wallpaper and gift wrap, announced a $25 million minority investment led by North Bridge Growth Equity, a leading growth equity firm based in Boston, with participation by Durham-based Bull City Venture Partners. The company plans to use the infusion of capital to increase the pace of innovation and introduction of new product offerings, and to fuel international expansion.

  • Intercom, a startup promising businesses a “fundamentally new” approach to communicating with their customers, has raised $35 million in Series C funding. The company has now raised a total of $66 million. The Series C was led by Iconiq Capital, with participation from past investors The Social + Capital Partnership and Bessemer Venture Partners.

  • ServiceMax, a Pleasanton, California-based provider of field service management solutions, landed $82 million in Series F funding. The round was led by Premji Invest with participation from new investors GE Ventures, PTC Inc., and Cloud Apps Capital, and existing investors Emergence Capital Partners, KPCB, Mayfield, Meritech, Adams Street Partners, Crosslink Capital, Questmark Partners, Sozo Ventures, and Trinity VenturesThe company, which has raised $202m in total, intends to use the funds to continue expansion of its global operations, grow sales, support, and marketing worldwide, and increase product development.
  • After backing a cannabis brand, a rocket manufacturer, and a creator of plant-based food alternatives, Peter Thiel's Founders Fund is continuing its push into uncharted VC territory. Today, the firm led a $33.5M Series A round for Modumetal, a materials sciences company making nanolaminated metals for the oil and gas industry. Other investors include Sunshine Tech Limited, Steve Singh, Catamount Ventures, Second Avenue Partners, Goldenseeds and members of the Alliance of Angels. Hercules Technology Growth Capital, Inc. also participated as a debt investor.

  • Fanatics Inc., an e-commerce company focused on sports merchandise, has sold a minority ownership stake to private equity firm Silver Lake for $300 million. The Silver Lake investment is all for primary shares, meaning that existing Fanatics investors will hold onto their stock. It is not clear how large Silver Lake’s minority position would be, or if Kynetic would remain majority shareholder.

If you are interested in being included in our funding roundup, submit your press release or blog post about your financing round to mitos@vator.tv. 

Image Source: naviganancial.com

Image Description

Mitos Suson

I produce Vator Events and enjoy the challenge. I am learning and growing a lot, being involved with Vator and loving every moment of it!

All author posts

Support VatorNews by Donating

Read more from our "Daily Funding Roundup" series

More episodes

Related Companies, Investors, and Entrepreneurs

Prolog Ventures

Angel group/VC

Joined Vator on


Venture Capital for Healthy Living:
Prolog backs companies that help all of us live healthier lives in a healthier world.
Investment themes include:
For much of history, the aim of health care was treating disease. Today, we witness a growing shift toward preventing it. Prolog invests in innovations that empower us to eat right, stay active and embrace the lifestyle of wellness.
Even when everything seems to go well, a problem may lurk underneath. Learning about it in time can make all the difference. Prolog invests in technologies that detect early threats to our health.
No one exists in a bubble. The world around us has a profound impact on our health. Prolog invests in solutions that protect the environment and promote sustainable living.
We focus on partnering with passionate entrepreneurs to build great sustaining companies.  
Interest areas include: Digital/Mobile Healthcare, Consumer empowerment in Health and Wellness, Nutrition, Healthy Living, Diagnostic Products, Genomics, Big Data applied ot Healthcare, Medical Devices and the Tools and Platforms of Life Science Innovation.


Emergence Capital Partners

Angel group/VC

Joined Vator on

The declining cost of IT infrastructure combined with pervasive connectivity has created opportunities for new companies with innovative business models to penetrate large markets and reorder the competitive landscape.

Emergence Capital has been at the forefront of this trend with early investments in SaaS, digital media and mobile services companies and brings deep experience and network resources to its portfolio companies. This focused team oriented approach has led to investments in industry leaders such as Salesforce.com and SuccessFactors. Emergence manages $325 million across two funds and is actively seeking new investment opportunities.

Norwest Venture Partners

Angel group/VC

Joined Vator on

Our experience makes us realistic about how businesses unfold, and we can advise our portfolio companies at all phases of growth. Our size, global presence and heritage enable us to offer our venture capital and growth equity portfolio companies high-level, long-term assistance.

Bessemer Venture Partners

Angel group/VC

Joined Vator on

In 1911, Henry Phipps founded Bessemer Securities to reinvest the proceeds of his sale of Carnegie Steel for the benefit of his descendents. The start-up investment operations were spun out into Bessemer Venture Partners, which now operates out of seven offices around the globe.

Crosslink Capital

Angel group/VC

Joined Vator on

Crosslink Capital is a leading stage-independent venture capital and growth equity firm with over $1.5 billion in assets.

Crosslink, which traces its roots back to 1989, was among the first and largest investment firms in the U.S. to integrate public and private growth investing in three families of funds: venture capital funds, long/short hedge funds and a unique hybrid crossover fund. This strategy allows Crosslink to partner with its portfolio companies on a long-term basis.