Thursday, March 13, 2014

Bay Area Tech Wire -- March 13

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BAY AREA TECH WIRE -- March 13, 2014
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San Francisco-Based Eventbrite Raises $60 Million at $1B Valuation
o San Francisco-Based MuleSoft Raises $50 Million in New Funding
o Sunnyvale-Based NetApp to Cut 600 Jobs Amid IT Spending Slowdown
o San Jose-Based FICO to Acquire Novato-Based InfoCentricity
o San Francisco-Based Lookout Names Jim Dolce as New CEO
o San Jose-Based Polycom Streamlines Executive Team, Eliminates COO
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Briefly Noted: Datameer, Actian, Rovi

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o San Francisco-Based Eventbrite Raises $60 Million at $1B Valuation

San Francisco -- Eventbrite, the San Francisco-based developer of a popular event ticketing platform has raised approximately $60 million in new funding at a $1 billion valuation, Fortune reported. Investors included Tiger Global and T. Rowe Price, who Eventbright said "proactively approached us" about increasing their investment in the company. The move comes as a bit of a surprise for a company that was widely expected to file for an initial public offering (IPO) this year. The company now has raised nearly $200 million since its inception in 2006.
http://www.eventbrite.com/ 
http://finance.fortune.cnn.com/2014/03/13/eventbrite-1-billion-club/ 
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o San Francisco-Based MuleSoft Raises $50 Million in New Funding

San Francisco -- MuleSoft, the San Francisco-based developer of an integration platform designed to let users more easily connect applications, data and devices, said on Thursday it has raised $50 million in a new round of funding. Previous backers New Enterprise Associates (NEA) and Lightspeed Venture Partners co-led the round, along with new investor Meritech Capital Partners. Other participants included Cisco, salesforce.com, SAP Ventures, Hummer Winblad Venture Partners, Morgenthaler Ventures and Bay Partners. MuleSoft, which now has raised $131 million since its inception, said it will use the latest funds to accelerate global expansion. MuleSoft's Anypoint platform is designed to unify business processes across applications, data sources and APIs. "Companies today are flooded with new applications, data and devices and, as companies accelerate their move to the cloud, it makes connecting everything infinitely more complicated," said CEO Greg Schott.
http://www.mulesoft.com 
http://www.mulesoft.com/press-center/50-million-funding 
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o Sunnyvale-Based NetApp to Cut 600 Jobs Amid IT Spending Slowdown

Sunnyvale, Calif. -- Shares of Sunnyvale-based data storage equipment maker NetApp fell 2% on Thursday after the company announced plans to cut approximately 600 jobs as part of a new business realignment plan. The cuts, expected to take place through July, represent about 5% of the company's total workforce. NetApp said the moves will allow it to "focus its resources on key strategic initiatives and streamline its business in light of the constrained IT spending environment." The company expects to incur charges of approximately $35-$45 million as a result of the cuts.
http://www.netapp.com/us/ 
http://www.sec.gov/Archives/edgar/data/1002047/000119312514095620/d691674d8k.htm 
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o San Jose-Based FICO to Acquire Novato-Based InfoCentricity

San Jose, Calif. -- FICO, the San Jose-based developer of analytics and decision management technology best known for its credit scoring system, said on Thursday it will acquired Novato-based InfoCentricity, a developer of web-based predictive analytics software. Financial terms of the deal, expected to be completed by April, were not disclosed. FICO said the acquisition will bolster its predictive analytics modeling offerings. "Growing demand for analytics that generate real and reliable value from data is creating enormous pressures on organizations of all sizes and in all industries," said Will Lansing, the CEO of FICO. "With this acquisition, we are able to put the most sophisticated, cloud-based analytics modeling tools into the hands of the entire spectrum of users."
http://www.fico.com 
http://www.infocentricity.com/ 
http://www.fico.com/en/about-us/newsroom/news-releases/fico-acquires-infocentricity/
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o San Francisco-Based Lookout Names Jim Dolce as New CEO

San Francisco -- Lookout, a San Francisco-based developer of mobile security software, on Thursday named Jim Dolce as its CEO. He succeeds company founder John Hering, who will assume the role of executive chairman. Dolce most recently served as a senior executive at Akamai Technologies, and currently serves on the boards of Benu Networks and RGB Networks. "With the future of enterprise software being so tightly linked to mobile, Jim is well-positioned to take Lookout into its next stage of growth," said Hering.
http://www.lookout.com 
https://www.lookout.com/news-mobile-security/jim-dolce-new-lookout-ceo 
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o San Jose-Based Polycom Streamlines Executive Team, Eliminates COO

San Jose, Calif. -- Polycom, a San Jose-based developer of unified communications and collaboration tools, said on Thursday it has realigned its executive team, eliminating the position of COO. As a result, Eric Brown will leave the company to pursue other opportunities. Brown joined Polycom in 2012 as COO, CFO and executive vice president. Laura Durr, the company's chief accounting officer, has been named interim CFO, while the company searches for a successor. "After careful review of the needs of the organization, we have streamlined the accounting, finance, services and operations functions in order to better focus on driving operating margin improvement," said CEO Peter Leav.
http://www.polycom.com 
http://www.polycom.com/company/news/press-releases/2014/20140313.html 
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o Briefly Noted:


(San Mateo, Calif.) San Mateo-based Datameer, a developer of self-service big data analytics tools for Hadoop, on Thursday named Mike Macey as its vice president of sales for the East Coast. Macey previously served as Platfora's sales director, and earlier worked for YarcData, MicroStrategy and Netezza.
http://www.datameer.com/company/news/press-releases/datameer-appoints-mike-macey-as-new-eastcoast-vp-sales.html 

(Redwood City, Calif.) Redwood City-based Actian, a developer of big data analytics and cloud integration tools, on Thursday named Paul Hoffman to its board of directors. Hoffman most recently was the executive vice president and president of worldwide field operations at Informatica, and previously co-founded Cassatt.
http://www.actian.com/company/news-and-events/press-releases/former-oracle-informatica-senior-executive-paul-hoffman-joins-big-data-leader-actian-corporation-board-directors/ 

(Santa Clara, Calif.) Santa Clara-based Rovi, a developer of program search and navigation technology, on Thursday named John Burke as its executive vice president and COO. Burke previously held executive rolls at ARRIS Group, including senior vice president of corporate development and strategy and president of the company's cloud solutions business.
http://www.rovicorp.com/ 
http://www.businesswire.com/news/home/20140313006353/en/Rovi-Appoints-John-Burke-Executive-Vice-President#.UyIXTz9dXng

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>
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>
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