Wednesday, April 23, 2014

Bay Area Tech Wire -- April 23

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BAY AREA TECH WIRE -- April 23, 2014
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To Subscribe: www.bayareatechwire.com
 

o Mountain View-Based Pure Storage Raises $225 Million at $3B Valuation
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Redwood City-Based Guardant Health Secures $30M in Second Round
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Palo Alto-Based Declara Raises $16 Million in First Round
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Palo Alto-Based Sentinel Labs Lands $12 Million in First Round
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AOL Launches Retooled Version of Crunchbase
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Briefly Noted: Google - SunPower, RedSeal Networks

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o Mountain View-Based Pure Storage Raises $225 Million at $3B Valuation

Mountain View, Calif. -- Pure Storage, a Mountain View-based developer of all-flash storage technology, said on Wednesday it has raised $225 million in its sixth round of funding, at a pre-money valuation of more than $3 billion. Public market investors T. Rowe Price Associates, Tiger Global and Wellington Management took part in the round, along with previous venture capital backers Greylock Partners, Index Ventures, Redpoint Ventures and Sutter Hill Ventures. The company, which now has raised $470 million since its inception, plans to use the funds to bolster investments in engineering, sales, marketing and channel partner activities. Pure Storage, which also raised $150 million last summer, has long been viewed as a candidate for an initial public offering (IPO) in the not-too-distant future.
http://www.purestorage.com 
http://www.purestorage.com/blog/ 
http://www.businesswire.com/news/home/20140423005572/en/Pure-Storage-Raises-225M-Valued-3B-Leading#.U1fFGVVdXng
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o Redwood City-Based Guardant Health Secures $30M in Second Round

Redwood City, Calif. -- Guardant Health, a Redwood City-based developer of diagnostic technologies focused on helping patients manage cancer, said it has secured $30 million in its second round of funding, led by Khosla Ventures. Previous backer Sequoia Capital and new investor Pejman Mar Ventures also took part in the round, which the company will use to support the commercial expansion of its non-invasive tumor sequencing test, known as Guardant360. The blood test is designed to help oncologists make personalized treatment decisions based upon a patient's specific genomic alterations across dozens of genes. Samir Kaul, founding partner of Khosla Ventures, will join the company's board of directors.
http://www.guardanthealth.com 
https://ca.finance.yahoo.com/news/guardant-health-announces-30-million-130000470.html
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o Palo Alto-Based Declara Raises $16 Million in First Round

Palo Alto, Calif. -- Declara, a Palo Alto-based developer of technology for personal learning, said on Wednesday it has raised $16 million in its first round of funding, led by GSV Capital. Data Collective, Founders Fund and Catamount Ventures also participated in the round, which the company will use to scale operations globally and build out its team. Mark Flynn, the co-managing partner of GSV Asset Management, will join the company's board. Founded in 2012, Declara is the developer of a technology platform that uses semantic search, predictive analytics and machine learning to surface the right content at the right time for individuals, making learning more personalized. The platform is designed to learn more about an individual's learning patterns over time, and can expand their skills by connecting them to a colleague, post, blog, publication or expert. "Learning needs to be a constant discovery where formal learning taught in schools can be combined with informal learning, which is accomplished through everyday social collaboration," said Ramona Pierson, the company's co-founder and CEO.
http://www.declara.com 
https://www.declara.com/news/#gsvcap-press 
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o Palo Alto-Based Sentinel Labs Lands $12 Million in First Round

Palo Alto, Calif. -- Sentinel Labs, a Palo Alto-based cybersecurity startup, said on Wednesday it has landed $12 million in its first round of funding, led by Tiger Global. Previous backers Accel Partners, Data Collective and Granite Hill Capital Partners also participated, as did new investor The Westly Group. The company, which also has offices in Israel, plans to use the funds to expand its offering, as well as launch a complete endpoint protection product to compete with traditional antivirus vendors by year's end. Sentinel said it is able to stop attacks, even if they are unknown or brand new, by predicting the attack patterns instead of relying on file signatures or static indicators. "We've championed the idea of endpoint being the last line of defense against threats," said CEO Tomer Weingarten. "Now we're going to take that initial concept and tackle the antivirus itself, an industry that hasn't changed in ten years despite ever growing threats."
http://sentinel-labs.com 
http://www.businesswire.com/news/home/20140423005540/en/Sentinel-Raises-12MM-Build-Generation-Security-Infrastructure#.U1fAEFVdXng
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o AOL Launches Retooled Version of Crunchbase

San Francisco -- AOL said on Wednesday it has launched a revamped version of Crunchbase, the crowd-sourced database of start-ups, entrepreneurs and investors originally created by tech blog TechCrunch. It marks the first major update of the service since 2007. The company said it has rebuilt just about every aspect of Crunchbase, from its user experience to its underlying technology. The service now features an improved mobile experience, immediate publication of most user-supplied data and new data categories. "What we are working toward is a platform that offers a true business graph, which means we are not only capturing information, the way the previous version Crunchbase did, we are also capturing the countless connections between people, companies and activities," said Matt Kaufman, the president of Crunchbase.
http://www.crunchbase.com/ 
http://corp.aol.com/2014/04/22/announcing-crunchbase-2-0/ 
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o Briefly Noted:


(Mountain View, Calif.) Mountain View-based Google said on Wednesday it will team with San Jose-based solar energy company SunPower to provide financing to support residential solar lease projects. Under the agreement, Google has committed up to $100 million and SunPower approximately $150 million. It marks Google's 16th renewable energy investment, as well as its third in residential rooftop solar.
http://newsroom.sunpower.com/2014-04-23-Google-and-SunPower-Team-Up-to-Finance-250-Million-in-Residential-Solar-Lease-Projects 

(Santa Clara, Calif.) Santa Clara-based RedSeal Networks, a provider of network visibility and analytics designed to prevent cyber attacks, has named Martin Walter as its senior director of product management and Robert Capps as its senior director of customer success. Walter most recently was senior product manager at Palo Alto Networks, while Capps was the senior manager of global trust and safety at StubHub.
http://www.redsealnetworks.com/company/news-events/pressreleases/redseal-hires-key-executives-to-lead-product-management-and-customer-satisf

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