Terralliance Technologies Gains New Funding

Newport Beach-based Terralliance Technologies, which uses aircraft remote sensing for national resources mapping, said Thursday afternoon that it has gained new funding for the firm. The company did not disclose financial terms, or investors in this funding round, but said it is backed by Kleiner Perkins Caufield & Byers, Goldman Sachs and Passport Capital, LLC. The firm said its technology can be applied to oil and gas exploration, as well as finding gold and other minerals. Terralliance also said it has named W. Michael Long as Executive Chairman of the firm's board; Long has served as CEO of Healtheon, Chairman of WebMD, CEO of Move, Inc., and also sits on the board of EEstor. More information »