Thursday, March 12, 2015

Bay Area Tech Wire -- March 12

BAY AREA TECH WIRE -- March 12, 2015
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Redwood City-Based Highfive Raises $32 Million in Second Round
Santa Cruz-Based Looker Lands $30 Million in Second Round
San Mateo-Based SignalFx Raises $20 Million, Emerges from Stealth
o San Francisco-Based Bugcrowd Lands $6 Million in First Round
San Jose-Based Quorum Names John Newsom as New CEO
FTC Charges DIRECTV with Deceptive Advertising
Briefly Noted: Smart Wires, Xamarin, RingCentral


> Job/Event/Marketplace Classified Listings (Full Listings Below Stories)

--Associate - North Atlantic Capital - Portland, ME
--Principal Analysts, Enterprise Security
--Intellectual Property Services/Patent Applications Drafted

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o Redwood City-Based Highfive Raises $32 Million in Second Round

Redwood City, Calif. -- Highfive, the Redwood City-based developer of a video conferencing device and cloud software for businesses, said on Thursday it has secured $32 million in its second round of funding, led by Lightspeed Venture Partners. Previous backers Andreessen Horowitz, General Catalyst, Google Ventures and SV Angel also participated, along with Aaron Levie (Box), Drew Houston (Dropbox), Marc Benioff ( and Shishir Mehrotra (YouTube). Highfive began shipping its hardware devices in December, and now counts Patagonia, Slack, Zenefits and Warby Parker among its clients. "We are seeing record growth, and we're on track to process one million video minutes per week within the first six months of shipping," said co-founder and CEO Shan Sinha. The company now has raised $45.4 million since its inception. With this new funding, Highfive said it plans to double its team of 50 employees to support engineering, sales and marketing.

o Santa Cruz-Based Looker Lands $30 Million in Second Round

Santa Cruz, Calif. -- Looker, the Santa Cruz-based developer of a web-based business intelligence platform, said it has raised $30 million in its second round of funding. Meritech Capital Partners led the round, which also included participation from Sapphire Ventures (formerly SAP Ventures) and previous backers Redpoint Ventures, First Round Capital and PivotNorth. Rob Ward, managing director at Meritech, will join the company's board of directors. Launched less than two years ago, Looker already counts more than 250 customers, including Yahoo, Warby Parker, Asana, Instacart, Docker, Venmo, Upworthy and Gilt. The company's platform is designed to make the data needed to make better decisions more accessible to those who actually need it. 

o San Mateo-Based SignalFx Raises $20 Million, Emerges from Stealth

San Mateo, Calif. -- SignalFx, the San Mateo-based developer of a monitoring platform for modern apps and infrastructure, said on Thursday it has emerged from stealth mode after raising $20 million in its second round of funding, led by Charles River Ventures. Previous backer Andreessen Horowitz also participated in the round, which increased the company's total funding to $28.5 million. SignalFx said it will use the proceeds to significantly expand sales and marketing activities and accelerate research and development. Devdutt Yellurkar, a general partner at Charles River Ventures, will join the the company's board of directors. The company also has launched its web-based monitoring platform, which it said delivers an interactive, system-wide view of application and infrastructure data at any scale. "The developers and DevOps teams running modern applications need a monitoring platform that supports dynamic and distributed architectures," said founder and CEO Karthik Rau. Clients include Yelp, Tapjoy, Symphony Commerce and Chairish. 

o San Francisco-Based Bugcrowd Lands $6 Million in First Round

San Francisco -- Bugcrowd, the San Francisco-based developer of a crowdsourced security testing platform, said on Thursday it has raised $6 million in its first round of funding, led by Costanoa Venture Capital. Previous investors Rally Ventures, Paladin Capital Group and Blackbird Ventures also took part in the round, which the company will use to expand its day-to-day operations staff, as well as bolster strategic product development. Bugcrowd, which now has raised $9 million since its inception in 2012, combines a vulnerability reporting platform with a large pool of security researchers, allowing clients to save time and money on security testing programs. 

o San Jose-Based Quorum Names John Newsom as New CEO

San Jose, Calif. -- Quorum, a San Jose-based developer of backup, recovery and continuity tools for businesses, on Thursday named John Newsom as its new CEO. He succeeds interim CEO Walter Angerer, who now will become the company's executive chairman. Newsom previously spent 18 years at Quest Software where he designed, staffed and led global enterprise sales, pre-sales, post-sales and product management teams. Most recently, he served as the vice president and general manager of Quest's application management business unit. 

o FTC Charges DIRECTV with Deceptive Advertising

Washington, DC -- The Federal Trade Commission (FTC) has charged satellite television provider DIRECTV with deceptively advertising the cost of its service. At issue are ads for a discounted 12-month programming package that the agency said fails to clearly disclose requires a two-year contract. The FTC also said that DIRECTV doesn't clearly disclose that the cost of the package will increase by up to $45 more a month in the second year, and that early cancellation fees of up to $480 apply if consumers cancel before the end of that period. "DIRECTV sought to lock customers into longer and more expensive contracts and premium packages that were not adequately disclosed," said FTC Chairwoman Edith Ramirez. "It's a bedrock principle that the key terms of an offer to a consumer must be clear and conspicuous, not hidden in fine print." The FTC is seeking a court order that permanently bars the company from engaging in the allegedly illegal conduct, as well as unspecified monetary damages that could be used to provide refunds. 

o Briefly Noted:

(Oakland) Oakland-based Smart Wires, a developer of distributed power flow control technology for the electric grid, has named Bob Suehiro as its vice president of customer support and installation. Suehiro previously spent 37 years at Pacific Gas & Electric, most recently serving as director of electric transmission operations projects. 

(San Francisco) San Francisco-based Xamarin, creator of an enterprise mobile development platform for build and testing apps, on Thursday named Bryan Morris as its CFO. Morris most recently served as the CFO of LiveRamp, which was acquired by Acxiom in July. The news comes seven months after Xamarin raised $54 million in its third round of funding. 

(San Mateo, Calif.) San Mateo-based RingCentral, a developer of cloud communication tools, on Thursday named Al Campa as its chief marketing officer (CMO). Campa most recently was a partner at Sierra Ventures, and previously was the CEO of Reachable.

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> Associate - North Atlantic Capital - Portland, ME

Portland, Maine based North Atlantic Capital is seeking an Associate to play a crucial role in executing our investment strategy by researching promising technology market segments and proactively reaching out to the CEOs and CFOs of leading private companies within those market segments. He or she will also participate in all phases of investment process including: due diligence, meetings with management, focused company and industry research, financial modeling and writing investment recommendations. All candidates considered must have: 2-4 years work experience, investment banking or corporate development experience, experience working with or strong affinity for technology companies and an exceptional educational background. Send resumes to:


> Principal Analysts, Enterprise Security

Current Analysis, a Progressive Digital Media company, is seeking a Principal Analyst to work in our Enterprise Security group with expertise spanning secure messaging, data security and governance, firewall/VPN and intrusion prevention and detection. Of particular importance is the ability to view security broadly and speak to its impact upon the entire IT technology landscape such as mobility, data center, application development, big data, and collaboration. Qualified candidate should have the ability to identify market trends and weigh the relative strengths and weaknesses of companies and products while delivering high quality analysis under tight deadlines. The goal is to deliver intelligence that alerts and helps sales professionals respond to competitive threats and opportunities, and gives end users insight into the strengths and weaknesses of competing products/strategies. Companies covered include, but are not limited to CA, Checkpoint, Cisco, EMC/RSA, IBM/ISS, Juniper, McAfee, Microsoft, Symantec, and Trend Micro. Send resumes to For more information about the position, go to: 

> Intellectual Property Services/Patent Applications Drafted

ROARK IP ( provides a wide range of services relating to intellectual property including patents, trademarks, copyrights, trade secrets and licensing. We charge $3600.00 (excluding government filing and drafting fees) to prepare a utility patent application for filing with the US Patent & Trademark Office in the mechanical and electrical technology areas. Sample patents drafted include: 6,134,944; 6,158,244; 6,225,635; 6,226,346; 6,417,754; 6,490,469; 6,515,737; and 6,850,920. Flat fee, no surprise billing offered. We are located in San Jose. If you are interested, please contact us at

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