Friday, January 25, 2008


Channel M Raises $6M
Los Angeles-based Chammel M said Friday morning that it has raised $6M in an investment round led by Ascend Venture Group. Vintage Capital also participated in the funding. Channel M operates an out-of-home network of video screens that combines content and advertising. Bill Apfelbaum of Titan Outdoor joins the firm's board of directors; Apfelbaum is Chairman and CEO of TDI, and is a long term investor in Channel M.
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Chimeracore Raises $9.0M
Santa Barbara-based Chimeracore, a firm developing bio-therapeutics and synthetic drugs, has quietly raised $9.0M in a venture funding round. The funding was disclosed in this week's PricewaterhouseCoopers/NVCA MoneyTree report. Financial terms of the round of funding were not disclosed, and the round has not been announced publicly. Chimeracore has previously raised a round of funding from DFJ Frontier fund, and the firm is also listed as a portfolio firm of Gideon Hixon.
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Nexiant Adds $5.0M
Irvine-based Nexiant, a firm which develops automated dispensing systems for maintenance operations, has quietly raised $5.0M in additional funding, according to the PwC/NVCA MoneyTree report. The company, which was formerly known as DispenseSource, has previously raised three rounds of funding from Argentum Group, Forrest Binkley & Brown, Innocal, Inverness Capital Partners, Mission Ventures, and Omnicell. The additional capital would brings the firm's total raise to $35.0M.
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Velocity Services Gets $6.8M
Velocity Services, and El Segundo-based firm which operates IPDG (Interactive Digital Publishing Group), an operator of consumer portals and other online properties, has quietly raised $6.8M in venture funding. The funding was disclosed in this week's PricewaterhouseCoopers/NVCA MoneyTree report. No details on the firm's investors has been announced, however the firm's board includes Eric Chen and Dr. Francis Chen of WI Harper. Velocity Services owns Mail.com and MovieLine.com; the firm's CEO, J (More info...)
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Verari Garners $18M In Q4
San Diego-based computing systems developer Verari Systems raised $17.949M in funding sometime during Q4, according to the latest PwC/NVCA MoneyTree report. The funding follows a $25.0M venture funding round the company announced in June of 2007, which the firm raised from Carlyle Group, Sierra Ventures, Voyager Capital, and Celerity Partners. No details on the funding have been announced, and it's unclear if the funding is additional capital from the earlier announced funding or a new round.
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High Tower Names Sales VP
Aliso Viejo-based High Tower Software, a provider of information security products, said earlier this week that it has named Bill Adams as Vice President of Sales. Adams was most recently High Tower's Western Regional Sales Director. Adams has previously served at eEye Digital, Nexsys, and Websense. High Tower develops network security software which detects unusual security activity; the firm's software is used by defense and government agencies, educational institutions, and banking, financing (More info...)
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Kintera Signs NH School
San Diego-based Kintera said earlier this week that the firm's products have been selected by Proctor Academy, a school in Andover, NH. Financial impact of the customer win was not disclosed. Kintera's software platform will be used for fundraising, e-mail, web site, wealth screening, and donor management for the school. Kintera is a developer of software-as-a-service for nonprofits to manage their operations.
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