Wednesday, January 7, 2015

Bay Area Tech Wire -- Jan. 7

BAY AREA TECH WIRE -- Jan. 7, 2015
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Menlo Park-Based Silver Lake Invests $250 Million in Red Ventures
Millbrae-Based Stem Lands New Investments to Close Funding Round
o Redwood City-Based Silver Spring Networks to Acquire Detectent
Palo Alto-Based TCV Names Doug Gilstrap as Venture Partner
Report: Yahoo Gains on Google in U.S. Search Market
Briefly Noted: Institutional Venture Partners, ESS Technology, Qumu


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o Menlo Park-Based Silver Lake Invests $250 Million in Red Ventures

Menlo Park, Calif. -- Silver Lake Partners, the Menlo Park-based technology investment firm, said on Wednesday it has invested $250 million in South Carolina-based Red Ventures, a provider of marketing technology and services. Silver Lake joins General Atlantic as a minority shareholder in the company, which has doubled its employee base to more than 2,000 over the past five years. Greg Mondre, managing partner at Silver Lake, will join Red Ventures' board of directors. Red Ventures provides data analytics, marketing and sales technology to brands such as DIRECTV, MetLife and Verizon. 

o Millbrae-Based Stem Lands New Investments to Close Funding Round

Millbrae, Calif. -- Stem, a Millbrae-based provider of energy storage and data analytics services, said on Wednesday it has landed new investments from Constellation Technology Ventures and Total Energy Ventures, closing out a $27 million round of funding. The company will use the latest proceeds to expand its predictive analytics energy optimization software platform and global market expansion. The company had initially closed the round at $15 million in late 2013, with participation from Iberdrola, GE Ventures and previous backer Angeleno Group. Founded in 2009, Stem is the developer of a data analytics and intelligent energy storage system that the company said lets businesses reduce their electricity expenses without changing day-to-day operations. The system features an autonomous decision engine that alternates between battery power and grid power to optimize energy costs. 

o Redwood City-Based Silver Spring Networks to Acquire Detectent

Redwood City, Calif. -- Silver Spring Networks, the Redwood City-based developer of a networking platform connecting utilities to customers, said on Wednesday it will acquire Escondido-based Detectent, a developer of utility data analytics tools. Financial terms of the deal were not disclosed. Detectent, which has partnered with Silver Spring since last May, makes software currently used to analyze data from more than 25 million water, gas and electricity meters in the U.S. Scott Lang, Silver Spring's chairman, president and CEO, said his company plans to bolster Detectent's technology with distributed intelligence and real-time data stream capabilities. 

o Palo Alto-Based TCV Names Doug Gilstrap as Venture Partner

Palo Alto, Calif. -- Technology Crossover Ventures (TCV), the Palo Alto-based technology venture capital firm, on Wednesday named Doug Gilstrap as a venture partner in its New York office. Gilstrap, who previously served as the chief strategy officer of Ericsson, will focus on areas such as communications infrastructure and software, software-defined networking and unified communications. "Doug's deep insights in communications infrastructure, software and financial technology, in addition to his long-term relationships with communications and mobile carrier partners around the globe, will be instrumental in growing our portfolio in these high-priority fields," said Ted Coons, TCV general partner.

o Report: Yahoo Gains on Google in U.S. Search Market

San Francisco -- As Mountain View-based Google continued to slip in the U.S. search market last month, Sunnyvale-based Yahoo recorded its highest U.S. search share in more than five years, according to new statistics from StatCounter. All told, Google took 75.2% of search referrals, followed by Bing (12.5%) and Yahoo (10.4%). The stats coincide with Mozilla making Yahoo the default search engine for Firefox 34 users in the U.S., bringing to an end the company's 10-year relationship with Google. "The move by Mozilla has had a definite impact on U.S. search," said Aodhan Cullen, the CEO of StatCounter. "The question now is whether Firefox users switch back to Google." Firefox users represented just over 12% of U.S. internet usage in December. 

o Briefly Noted:

(Menlo Park, Calif.) Institutional Venture Partners (IVP), the Menlo Park-based venture capital firm focused on later-stage technology companies, has named Tracy Hogan as its CFO. Hogan previously served as the CFO and chief compliance officer at Elevation Partners for more than 10 years.

(Fremont, Calif.) Fremont-based ESS Technology, a developer of high-performance audio and video products for the consumer market, on Wednesday named Peter Frith as its CTO. Frith previously served as the CTO of Wolfson Microelectronics.. (PDF)

(San Bruno, Calif.) San Bruno-based Qumu, a developer of enterprise video content management tools, on Wednesday named Sumit Rai as its chief experience officer, leading a group that includes product management, product marketing and communications. Rai was the founder and CEO of Kulu Valley, an enterprise video platform provider acquired by Qumu last year.

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> Do Your Employees Think Like Owners? 10 Tips for Building an Entrepreneurial Culture

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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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