Friday, August 14, 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.


Avalon Solutions Group, a Dallas-based technology company focused on the development of Software as a Service (SaaS) based solutions, has raised $5 million in funding. An unnamed private investor made the investment. The fresh funds will be used to complete the development of its service and marketing. Avalon Solutions Group is a technology firm that focus on the development of SaaS-based solutions to support merchant payment processes for small businesses. The company provides myOmny™, a SaaS enterprise business management solution for the small-to-medium business (SMB) market which combines mobile Point of Sale (mPOS), accounting/Quickbooks integration, customer engagement, financial reporting, scheduling and recurring billing through a mobile platform.

Intelex Technologies Inc., a CA-based provider of Environmental, Health, Safety (EHS) and Quality management software solutions, has secured $CAD160 million in funding. JMI Equity led this round, with participation from HarbourVest. The new funds will be used to accelerate current growth initiatives and grow its team. Founded in 1992, Intelex provides Environmental, Health, Safety (EHS) and Quality management software to more than 1000 clients. The company employs over 350 employees in its Toronto office.

RapidSOS, a NY-based developer of an advanced technology platform to predict emergencies before they occur, has raised $5 million in funding round. Highland Capital Partners led this funding round with participation from Two Sigma Ventures. Founded in 2013, RapidSOS is a developer of an advanced suite of technologies for emergency prevention and communication. The company's One-Touch-911, will be launched later this year and serves as a universal data pipeline from any connected device to first responders. It interfaces with dispatch centers in over 135 countries, sending data from a user’s phone directly to dispatchers in an emergency. 

Scripbox, an India-based company that provides an online mutual funds investment platform, has raised a Rs 16 crore in  Series A funding round. Investors include Accel Partners, Deep Kalra, Mohit Gupta, Shamik Sharma and Subba Rao Telidevara. The fresh funds will be used to expand its operation in India. Launched in 2012, Scripbox provides an online mutual funds investment platform. The company is an AMFI-registered distributor of mutual funds. 

Payoneer Inc., a NY-based online payments company for businesses, has received a $50 million investment. Wellington Management Company led this round with participation from existing shareholder Susquehanna Growth Equity, LLC.  In addition, Payoneer's current investors include Carmel Ventures, Greylock Partners, Nyca Partners and Ping An Group. The fresh funds will be used to continue global expansion. Founded in 2005 Payoneer is an online payments company for businesses to send and receive cross-border payments. 

Vox Media, a Washington, DC-based digital media company, has received a $200 million equity investment. Media giant NBCUniversal made the investment. Vox Media operates eight distinct media brands, which include SB Nation (Sports), Polygon (Gaming), The Verge (Technology and Culture), Vox.com (News), Eater (Dining and Nightlife), Racked (Shopping, Beauty and Fashion), Curbed (Real Estate, Design and Home), and Re/code (Technology and Business).Company's investors include Accel Partners, Comcast Ventures, Khosla Ventures, and General Atlantic. 

Tuhu, a Chinese B2C e-commerce platform for automobile, has completed a $100 million in Series C funding round. Investors include Joy Capital, Welkin, Far East Horizon and Haitong as well as existing investors Legend Capital and Qiming Venture Partners. The new funds will be used to further invest in people, technology and offline presence. Tuhu provides an e-commerce platform for automobile after-sales products and services through its website, where customers can purchase a wide range of automobile products and services online such as tires,  car accessories and even car wash services. Tuhu has over 15 fulfillment centers, it offers same-day or next-day delivery and installation services at one of over 6,500 individual local service store partners in more than 260 cities across China. 

Image Credit: FunderBeam

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