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Twin Prime, a stealth startup working with data delivery optimization, has raised a $9.5 million Series A funding round. The round was led by DFJ and True Ventures with participation from Milliways Ventures and Moment Ventures. Bubba Murarka, Partner at DFJ, and Om Malik, Partner at True Ventures, also join Twin Prime's board of directors.
Loggly, a company that provides cloud-based enterprise-class log management solutions, has secured $15 million in Series C venture financing. Harmony Partners led the round, with existing investors Matrix Partners, Trinity Ventures, Cisco, Data Collective, and True Ventures also participating. This brings the investment raised by the company to date to $33.4 million.
Automattic, the company behind the WordPress blogging platform, has raised $160 million in a Series C funding round, valuing the company at a reported $1.16 billion. The investment was led by Deven Parekh of Insight Venture Partners, and includes participation from Chris Sacca, Endurance, and True Ventures, as well as existing investors Tiger Global Management and Iconiq. Matt Mullenweg (CEO, Automattic): This Series C round there was an opportunity cost to how we were managing the company toward break-even, and we realized we could invest more into WordPress and our products to grow faster. Also our cash position wasn’t going to be terribly strong especially after a number of infrastructure and product investments this and last year. WordPress had raised an earlier $12 million round in 2008.
Open source e-commerce platform Spree Commerce has raised $5 million in Series A funding led by Thrive Capital. Vegas Tech Fund (led by Tony Hsieh, CEO of Zappos.com), Red Swan Ventures, and existing investors True Ventures and AOL Ventures also participated in the investment.
Electronic cash transaction network PayNearMe has closed a $20 million round of financing led by GSV Capital. August Capital, Khosla Ventures, Maveron and True Ventures also participated in the round. PayNearMe says it will use the funds to continue expansion into existing categories, while launching into new vertical markets.
Soundhawk, a startup working on a wearable device that promises to enhance the wearer's ability of hearing, has secured a total investment of $5.7 million, led by True Ventures. The Soundhawk wearable device will work with a smartphone app to instantly personalize Soundhawk to the user's unique hearing profile and environment, says the company.
Littlebits has raised a $11 million Series B round of funding. The investment was led by True Ventures and Foundry Group. Other participants in the round include Two Sigma Ventures, Vegas Tech Fund, Khosla Ventures, Mena Ventures, Neoteny Labs, O’Reilly AlphaTech, and Lerer Ventures. This brings the total funding raised by Littlebits to over $15 million.
Stitch Labs, a cloud-based, real-time inventory and business management company, has closed $3.5 million in Series A financing. The investment was led by Greg Sands from Costanoa Ventures, with support from True Ventures and Greg Waldorf. This is Stitch Labs' second round of funding with the previous closing of $1 million in February 2012. Stitch Labs has grown tenfold in 2013 and is currently processing more than one million orders per month, according to the company.
Tiger Global has invested $50 million in Automattic, the company behind the Web software and blogging platform WordPress, developed by Matt Mullenweg. The transaction involves secondary stocks - Tiger Global bought stocks from existing Automattic stockholders, like the earliest investors or employees. Matt Mullenweg: Automattic is healthy, generating cash, and already growing as fast as it can so there’s no need for the company to raise money directly — we’re not capital constrained. "The minority of stockholders that elected to participate are holding on to the vast majority of their shares," says Matt Mullenweg. "We’re building an independent company that’s going to be a growing part of the fabric of the Web for many years to come, so allowing early investors to lock in some returns releases...
Concurrent has raised $4 million in Series A funding. The investment, led by True Ventures and Rembrandt Venture Partners, will be used to fuel product development, grow the core team, among other things, says Concurrent. In another development, Concurrent has appointed Gary Nakamura, former senior vice president and general manager of Terracotta, as CEO. Founder Chris Wensel will take on a new role as CTO The company had raised a $900,000 seed investment in August 2011.
Mobile marketing solutions company Urban Airship has secured $25 million in funding from August Capital, as well as existing investors Foundry Group, Intel Capital, True Ventures and Verizon. August Capital led the financing with its co-founder John Johnston joining Urban Airship's board. The investment brings the total raised by Urban Airship to $46.6 million, and follows on the heels of the company's acquisition of Tello's PassTools.
PayNearMe has closed $10 million in additional funding led by August Capital with participation from existing investors Khosla Ventures, Maveron, and True Ventures. The funds will be used to continue expanding the PayNearMe platform and further scaling the business, says the company. PayNearMe is a cash transaction network that enables consumers to pay rent, repay loans, buy tickets, and make online purchases with cash. Consumers can make payments 24/7 in their own neighborhood at one of the 8,600 participating 7-Eleven and ACE Cash Express stores across the United States.
Ginger.io, a behavioral health analytics startup, has raised a $6.5 million Series A funding round led by Khosla Ventures. Existing seed investors True Ventures and Romulus Capital also participated. Drawing on research from the MIT Media Lab, Ginger.io’s mobile application uses an individual’s smartphone to identify changes in behavior that correlate with his or her health. The company is evaluating its system across a number of key conditions including depression, diabetes and cardiovascular disease. The latest version of the Ginger.io platform, released earlier this fall, provides both a provider team and a patient with health insights based on that person’s behavior. Since raising its seed round just over a year ago, the company has expanded, absorbed the Rock Health startup Pipette, and opened a San Francisco, California office in addition...
Mobile rewards network Kiip is now integrated with Passbook in iOS6. Currently in beta testing, Kiip’s integration with Apple Passbook will soon be available to all brand partners, says the startup. Passbook coupons for Kiip rewards will be redeemable directly from reward notifications, Kiip reward emails and the Kiip App. Unveiled in Apple’s new version of its iOS 6 mobile operating system, Passbook is a new tool for managing boarding passes, movie tickets, retail coupons, loyalty cards, and so on. Users can simply scan their iPhone or iPod touch to receive their reward. Kiip was founded in 2010, and is backed by Relay Ventures, Hummer Winblad, True Ventures, Digital Garage, Verizon Ventures, and Crosslink Capital, among others
Smarterer has completed a Series A funding round, raising $1.75 Million. True Ventures led the round, which also included an investment from Google Ventures, and other angel investors. Tony Conrad from True Ventures will be joining Smarterer’s board of directors. Smarterer recently kicked off partnerships with The Resumator and Bullhorn Reach (Applicant Tracking Systems), and is rolling out an integration with Branchout among others. Smarterer is a platform designed to score individuals on their skill sets using crowdsourced test design..
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