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Thursday, May 21, 2015

Funding Box: The Latest Startup Funding News

The Funding Box provides information on venture capital/private equity and startup funding. Here's a list of top startup funding stories.

Black Duck Software, a Boston, MA-based OSS Logistics solutions provider enabling the secure management of open source code, has raised $5 million in funding round. Investors included the venture capital of Siemens. The company plans to use the funds to commercialize its new product offering- the Black Dock Hub. Black Duck Software is an OSS Logistics solution provider, which enables enterprises of every size to securely manage open source code and optimize the opportunities that come with open source adoption and management.

Centro, a Chicago-based provider of enterprise-class software for digital advertising, has raised $30 million in Series B funding round. Neuberger Berman Private Equity led this round and joined existing investor FTV Capital. The funds will be used to accelerate the development and expand the adoption of its technology by adding more software development and sales people. The Chicago-based company provides an enterprise-class digital advertising platform software that allows users to centralize, organize and automate all digital media campaigns across all channels, accessing both guaranteed and biddable inventory.

Glowforge, a Seattle-based maker of a 3D Laser printer, has raised $9 million Series A funding round. Foundry Group and True Ventures led this round, with participation from Bre Pettis and Jenny Lawton. The company plans to use the funds to grow its team and hire engineers in Seattle. Glowforge uses a laser to cut and etch products out of durable materials such as wood, leather, foam, paper, and fabric. Its works well with design software like Adobe Illustrator, Photoshop, Inkscape, and Autocad.

Samanage, a Cary, N.C.-based provider of a cloud integrated enterprise service desk software, has raised $16 million in Series B funding round. Marker LLC and Vintage Investment Partners led this round, with participation from existing shareholders Carmel Ventures, Gemini Israel Ventures and Silicon Valley Bank. The new capital will be used to scale engineering and to support global expansion. Samanage provides enterprise service desk software that manages service relationships in the company. 

Procare Software, a Medford, Ore-based global leader in child care management solutions, has receive a majority investment from global growth equity firm TA Associates, the amount of the transaction were not disclosed. Procare provides integrated payment processing, software, hardware and data hosting to child care businesses and organizations  to streamline management, administration and record keeping, it serves more than 25,000 child care providers worldwide in diverse business settings. 

AlphaDraft, a Los Angeles, CA-based daily fantasy sports platform, has raised $5 million in funding round. Metamorphic Ventures led this round with participation from WME, Upfront Ventures, IDG Ventures, Amplify.LA, KEC Ventures, Freestyle Capital, Gokul Rajaram, SK Ventures, Basset Investment Group, Greycroft Partners, Melo7 Tech Partners and former NBA Commissioner David Stern. The company plans to use the funds to increase user acquisition, to grow fantasy draft community, to execute strategic partnerships and expand support to five major eSports titles. The company is an online platform that combines eSports, live streaming and fantasy sports, with daily and weekly contests for cash and other real-world prizes. 

Trafi, a Vilnius, Lithuania-based journey planning app for commutes and travelers, has raised $6.5 million in Series A funding round. Octopus Investments led this round, with participation from EBRD Venture Capital Investment Programme, BaltCap and Practica Capital. The company plans to use the funds to launch in additional markets, grow its team and to further develop the technology behind its app. Lithuania-based Trafi provides a public transport mobile app designed to accurately plan journeys using real-time data. It provides journey planning information, using a mix of data collected from users and transit authorities. 

Fuze, a San Francisco-based cloud video conferencing company, has raised $20 million in funding round. Hermes Growth led this funding round. The company plans to use the funds to expand its platform to include a project work space for distributed teams to stay connected. Fuze provides more than 100,000 companies including Groupon, Starbucks, Macy’s.com and Thoughtworks with HD-quality voice and video conferencing and content sharing across devices, desktops and meeting rooms. The company also acquired LiveMinutes, a San Francisco and Paris, France-based cloud platform for collaborative team work spaces.

WePay, a Palo Alto-based payments provider for online platforms, has raised 440 million in series D funding round. FTV Capital led this round with participation from Rakuten, Highland Capital Partners, August Capital, Continental Investors and Ignition Partners. To date, the company has raised $75 million in total funding. The funds will be used to expand its services globally. Palo Alto-based WePay provides payments as a service for online platforms and marketplaces including Care.com, Constant Contact, FreshBooks, GoFundMe and many more.

Image Credit: Black Duck Software

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