Friday, June 29, 2012ServiceNow Pops On IPO DebutSan Diego-based ServiceNow has proven that the market for initial public offerings is still strong this morning, opening up at $23.08 in its first day of trading on the NYSE. The firm priced its IPO above estimates, at $18.00 per share, Thursday evening. ServiceNow is now publicly trading as NOW. The firm had earlier estimated an initial pricing range of $15.00 to $17.00. The IPO is a huge win for ServiceNow's venture backers, which include JMI Equity, Sequoia Capital, and Greylock Partners--wit (More info...)
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Domain, Versant Re-Up On Spine Repair StartupTwo Southern California venture investors have re-upped their investment in a Northern California maker of spin repair devices, Benvenue Medical. Benvenue said it raised $25M in a Series D funding yesterday, led by its existing ivnestors, which include DeNovo Ventures, Domain Associates, Technology Partners and Versant Ventures. The firm will use the funding for commercialization of its products, which are used to treat degenerative disc disease (DDD) with spinal fusion and vertebral compression (More info...)
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Sonendo Raising $20MLaguna Hills-based Sonnendo, a firm developing medical devices for the use in root canals (endodontic therapy), said Thursday that it has raised $9.2M in an initial close of a $20M equity funding. e firm said the round was led by OrbiMed Advisors, and also included NeoMed Management and Fjord Ventures Management. Vince Burgess of Orbimed and Erik AMble of NeoMed have joined the firm's board with the funding. The company said the new funds will go towards technology development, clinical studies, (More info...)
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