Wednesday, March 19, 2014

Bay Area Tech Wire -- March 19

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BAY AREA TECH WIRE -- March 19, 2014
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Palo Alto-Based TCV Closes New $2.23 Billion Tech Fund
o San Francisco-Based AltSchool Raises $33 Million in First Round
o Palo Alto-Based Amplify Partners Closes $49.1 Million Debut Fund
o Sunnyvale's Glo Raises $30 Million in Fourth Round of Funding
o Trinity Ventures Leads $20M Funding Round for Simply Measured
o Mountain View-Based Blue River Technology Lands $10 Million
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Briefly Noted: Kingsoft Office Software, Violin Memory, BitPay

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o Palo Alto-Based TCV Closes New $2.23 Billion Tech Fund

Palo Alto, Calif. -- Technology Crossover Ventures (TCV), the Palo Alto-based venture capital firm focused on growth-stage technology companies, said on Wednesday it has closed a new $2.23 billion fund, known as TCV VIII. The firm now has raised nearly $10 million since its inception in 1995. TCV said it will continue its strategy of investing in tech companies focused on the Internet, business and financial services, infrastructure and software. The firm has invested in more than 200 technology companies over the past 18 years, including C|NET, ExactTarget, Expedia, Facebook, Fandango, FX Alliance, Go Daddy, Genesys Software, Groupon, HomeAway, Netflix, RealNetworks, Redback Networks, RiskMetrics Group, Sitecore, Splunk, Spotify, Thinkorswim and Zillow.
http://www.tcv.com
http://www.businesswire.com/news/home/20140319005284/en/Technology-Crossover-Ventures-Announces-2.23-Billion-Growth#.Uyn5xqhdXng 
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o San Francisco-Based AltSchool Raises $33 Million in First Round

San Francisco -- AltSchool, a San Francisco-based network of micro-schools founded by former Google executive Max Ventilla, said it has raised $33 million in its first round of funding, co-led by Founders Fund and Andreessen Horowitz. First Round Capital and Harrison Metal also participated, along with John Doerr, Jonathan Sackler, Learn Capital and Omidyar Network. AltSchool opened its first micro-school in San Francisco last year, and plans to open at least three more in the Bay Area for the 2014-2015 academic year. The schools emphasize personalized learning for children in grades K-8, while incorporating proprietary technology tools. Ventilla is the former head of personalization at Google and the co-founder of Aardvark, a search company that Google acquired in 2010.
http://www.altschool.com
http://www.businesswire.com/news/home/20140318005497/en#.UymhZKhdXng 
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o Palo Alto-Based Amplify Partners Closes $49.1 Million Debut Fund

Palo Alto, Calif. -- Amplify Partners, a Palo Alto-based venture capital firm exclusively focused on Infrastructure 2.0 technology, said it has closed its inaugural fund at $49.1 million. Led by enterprise technology venture capitalist Sunil Dhaliwal, Amplify focuses on initial investments ranging from $50,000-$1.5 million, and looks to support startups through multiple rounds of funding. Launched less than a year ago, the firm already has invested in companies such as AppNeta, BlueData, Chef, Conjur, Continuuity, Datadog, Fastly, Keen.io and WibiData, as well as a number of startups still in stealth mode. It also recently appointed David Beyer as a principal. Beyer was co-founder and CEO of Chartio.com and part of the founding team at Patients Know Best.
http://www.amplifypartners.com/ 
http://www.amplifypartners.com/press-release/amplify-partners-closes-4910000-debut-fund/ 
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o Sunnyvale's Glo Raises $30 Million in Fourth Round of Funding

Sunnyvale, Calif. -- Glo, a Swedish developer of LED lighting technology with major operations in Sunnyvale, said on Wednesday it has raised $30 million in its fourth round of funding, which the company will use to expand its product offerings, staff and partnerships. An undisclosed "new" investor led the round, which also included participation from previous backers Wellington Partners, Teknoinvest, Nano Future Invest, Energy Future Invest and Foundation Asset Management. Bart Markus, a partner at Wellington Partners, has been named chairman of the company, which now has raised $115 million since its inception. Glo, a spin-off of the Lund University in Sweden, operates a 60-person R&D and operations facility in Sunnyvale. The company's products use proprietary nLED technology to offer highly-efficient and stable red, green, blue emitters using a single material system.
http://www.glo.se/ 
http://www.businesswire.com/news/home/20140319005461/en/Glo-AB-Completes-30-Million-Series-Funding#.Uyn3S6hdXng 
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o Trinity Ventures Leads $20M Funding Round for Simply Measured

Menlo Park, Calif. -- Trinity Ventures, the Menlo Park-based venture capital firm, has led a new $20 million round of funding for Seattle-based Simply Measured, developer of a social media analytics and measurement platform. Bessemer Venture Partners, Four Rivers Group, MHS Capital and other previous backers also took part in the company's third round. Karan Mehandru, a general partner at Trinity Ventures, will join the company's board of directors. Simply Measured, which plans to double its current staff of 115 full-time employees this year, provides users with visual dashboards that compile enterprise-level insights from social media sites such as Facebook, Twitter, Instagram, LinkedIn, YouTube, Google+, Tumblr and Vine. Clients include Kia Motors, Pepsi, American Express, Billboard, Samsung, Chipotle and the Seattle Seahawks. The company now has raised $28.9 million since its inception in 2010.
http://simplymeasured.com 
http://www.trinityventures.com 
http://www.marketwired.com/press-release/simply-measured-raises-20-million-expand-social-media-analytics-reporting-solution-1889906.htm 
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o Mountain View-Based Blue River Technology Lands $10 Million

Mountain View, Calif. -- Blue River Technology, a Mountain View-based developer of computer vision and robotics tools for agriculture, said on Wednesday it has raised $10 million in follow-on to its first round of funding, led by Data Collective Venture Capital. Other participants included Eric Schmidt's Innovation Endeavors, as well as previous backer Khosla Ventures. The company plans to use the new capital to further expand its engineering team and product offerings. Founded in 2011 by two Stanford University alumni, Blue River Technology has developed computer vision techniques to identify weeds and selectively kill unwanted plants. The company in 2012 raised $3.1 million in its first round of funding, led by Khosla Ventures.
http://www.bluerivert.com 
http://www.businesswire.com/news/home/20140319005541/en/Blue-River-Technology-Raises-10-Million-Data#.Uyn8c6hdXnj 
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o Briefly Noted:


(Palo Alto, Calif.) Palo Alto-based Kingsoft Office Software, a developer of mobile and desktop office tools, on Wednesday named Frank Fu as its U.S. president, overseeing all of the company's operations outside of China. Fu previously served as the vice president at Bitfone Asia Pacific. The company also has named Eric Villines as its vice president of global marketing and Scott Whiteker as its vice president of business development.
http://www.ksosoft.com 
https://prnmedia.prnewswire.com/news-releases/mobile-tech-veteran-frank-fu-named-president-of-kingsoft-office-usa-250975671.html 

(Santa Clara, Calif.) Santa Clara-based Violin Memory, a developer of flash storage arrays and appliances, said on Wednesday it has promoted Steve Dalton to senior vice president of engineering from vice president of software. The company earlier this week also named former Roamware and Force10 Networks president Ebrahim Abbasi as its senior vice president of operations.
http://investor.violin-memory.com/company/investors-overview/press-releases/press-release-details/2014/Violin-Memory-Promotes-Steve-Dalton-to-Senior-Vice-President-of-Engineering/default.aspx 
http://investor.violin-memory.com/company/investors-overview/press-releases/press-release-details/2014/Violin-Memory-Appoints-Ebrahim-Abbasi-Senior-Vice-President-Operations/default.aspx 

(San Francisco) Atlanta-based BitPay, a developer of business tools for Bitcoin digital currency, said on Wednesday it has opened new offices in San Francisco and New York. The company said the new offices will handle sales, implementation and operational support for its merchants.
https://bitpay.com 
http://www.businesswire.com/news/home/20140319006093/en/BitPay-Opens-San-Francisco-York-Offices#.Uyn2vKhdXng

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> Startup Marketing Conference SF, March 27: Last Chance to Register

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>
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> 14 Ideas for Marketing Your Business Online


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>
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