Monday, January 5, 2015

Bay Area Tech Wire -- Jan. 5

BAY AREA TECH WIRE -- Jan. 5, 2015
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San Francisco-Based Scribd Raises $22 Million in New Funding
S.F.-Based Symic Biomedical Lands $15 Million in First Round
Los Altos-Based Beepi Raises $12.7 Million for Online Car Marketplace
San Francisco-Based Thoma Bravo Sells Tripwire for $710 Million
Global Semiconductor Sales Grow 9.1% in November
Briefly Noted: Autonet Mobile, Cepheid
, CytomX

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o San Francisco-Based Scribd Raises $22 Million in New Funding

San Francisco -- Scribd, the San Francisco-based operator of a subscription e-book service, said on Monday it has raised $22 million in a new round of funding led by Khosla Ventures. Previous backers Redpoint Ventures, Charles River Ventures and Silicon Valley Bank also participated in the round, which increases the company's total funding to $48 million since its launch in 2007. The company said it will use the proceeds to accelerate its hiring, content acquisition and international expansion activities. Scribd currently has more than 80 million monthly readers accessing its e-books, audio books and documents. Keith Rabois, a partner at Khosla, will join the company's board as an observer. 

o S.F.-Based Symic Biomedical Lands $15 Million in First Round

San Francisco -- Symic Biomedical, a San Francisco-based biotechnology startup developing a new category of therapeutics to treat diseases, said on Monday it has secured $15 million in its first round of funding. Lilly Ventures led the round, which also included participation from Den Danske Forskningsfond (Denmark), Mitsui Global Investment (Japan), Ally Bridge Group (Hong Kong) and InCube Ventures, as well as Purdue Foundry Investment Fund, Mission Bay Capital, QB3 Partners and other individual investors. The company will use the funds to continue development of its therapeutics, as well as advance its two lead programs into clinical trials. (PDF)

o Los Altos-Based Beepi Raises $12.7 Million for Online Car Marketplace

Los Altos, Calif. -- Beepi, the Los Altos-based developer of a peer-to-peer marketplace for buying and selling cars online, said it has raised $12.7 million in a new round of funding. Prominent investors included Digital Sky Technologies co-founder Yuri Milner and SAB Capital Management CEO and founder Scott Bommer. As part of the round, the company raised $2.7 million from 86 individuals in the largest-ever crowdfunding deal on AngelList. The news comes just three months after Beepi raised $60 million in its second round, co-led by Foundation Capital and SherpaVentures. The company's site allows consumers to buy or sell cars completely online in 140 U.S. cities. It receives more than 1,000 requests a week to sell cars from residents in the San Francisco Bay Area alone. 

o San Francisco-Based Thoma Bravo Sells Tripwire for $710 Million

San Francisco -- Thoma Bravo, a San Francisco-based private equity firm, said on Monday it has sold Tripwire, an Oregon-based developer of IT security tools, to Missouri-based Belden for $710 million in cash. Thoma Bravo acquired Tripwire in 2011, and the company has since grown its revenue by 70%. The companies first announced plans for the deal in early December. The two companies said they will work together to deliver new cybersecurity tools that can be deployed across enterprise, industrial and broadcast markets. 

o Global Semiconductor Sales Grow 9.1% in November

Washington, DC -- Worldwide sales of semiconductors reached $29.7 billion in November, up 9.1% from the same month in 2013, according to new figures from the Semiconductor Industry Association (SIA). "Sales through November have matched the total from all of 2013, assuring that the industry will achieve a new record for sales in 2014," said Brian Toohey, president and CEO of the SIA. "Demand remains strong across nearly all semiconductor product categories, and the Americas and Asia Pacific regional markets continue to post the most robust growth. Macroeconomic trends bode well for continued growth into 2015."

o Briefly Noted:

(Santa Rosa, Calif.) Santa Rosa-based Autonet Mobile, a provider of Internet-based telematics and application services for vehicles, on Monday named Philip Hughes, as its president. Hughes is the former vice president of automotive sales and business development at Nvidia. He succeeds company co-founder Sterling Pratz, who will continues in an advisory role. 

(Sunnyvale, Calif.) Sunnyvale-based molecular diagnostics company Cepheid said on Monday that CFO Andrew Miller will depart the company next month for a job with Massachusetts-based PTC. Daniel Madden, the company's vice president and corporate controller, will assume the role of principal financial and accounting officer until a new CFO is appointed. The company has launched a formal search that will consider both internal and external candidates. 

(South San Francisco) South San Francisco-based biotechnology firm CytomX, which is developing therapeutics for the treatment of cancer, on Monday named Michael Kavanaugh as its chief scientific officer and head of research and early development. Kavanaugh most recently was the senior vice president and chief scientific officer of Five Prime Therapeutics. In addition, the company has appointed Sridhar Viswanathan as its vice president of process sciences and manufacturing operations and Danielle Olander as its vice president of human resources.

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> Software Developer - Falls Church, Virginia

THE CENTECH GROUP, Inc. (CENTECH) is seeking a talented Senior Software Developer with in-depth full lifecycle software development experience to support internal application development efforts in Falls Church, VA. As a part of our development team, this member will interface with business stakeholders to perform business requirements elicitation and analysis; execute the development of approved designs and work packages; perform complex system builds and deployments; perform unit testing and provide post deployment management. Required skills: C#, ASP. NET, .NET Framework, Web Forms/Services, SQL Server, Javascript, JQuery, TFS, Source Safe, Stored Procedures, DB administration, and some SP preferred. Send resumes to: and reference this Tech Wire job posting. EOE/M/F/D/V

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