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BAY AREA TECH WIRE -- April 27, 2016
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o Hayward-Based RayVio Raises $26 Million in New Funding
o San Francisco-Based Affirm to Acquire Sweep
o Palo Alto-Based BlueVine Lands New Investment from Citi Ventures
o Sunnyvale-Based Yahoo Reaches Deal with Investor to Add Board Members
o Santa Clara-Based Aviatrix Systems Names Steven Mih as CEO
o Briefly Noted: Arxan Technologies, Electronic Arts, Anaplan
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o Hayward-Based RayVio Raises $26 Million in New Funding
Hayward, Calif. -- RayVio, a Hayward-based developer of UV LED technology designed to kill germs in water and environments, said it has landed $26 million in new funding, co-led by IPV Capital and Tsing Capital. Previous backers DCM Ventures, Capricorn Investment Group, Applied Ventures, Augment Ventures, Tolero Ventures and New Ground Ventures also participated. The company will use the proceeds to expand production of its core products, including point-of-use water disinfection systems. "Consumers in too many countries lack control over major environmental health risks that lurk in everything from drinking water to hospital care," said CEO Robert Walker. "With this investment, we will scale our technology and expand our partnerships." Alex Banh of IPV Capital and Don Ye of Tsing Capital will join the company's board of directors.
http://www.rayvio.com
http://www.businesswire.com/news/home/20160426005542/en/IPV-Capital-Tsing-Capital-Lead-26-Million
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o San Francisco-Based Affirm to Acquire Sweep
San Francisco -- Two weeks after announcing $100 million in new funding, San Francisco-based Affirm, the financial services technology company led by PayPal co-founder Max Levchin, said on Wednesday it will acquire personal finance management app company Sweep. Financial terms of the deal were not disclosed. The company called the move the "first step" in its expansion beyond point-of-sale financing. Sweep co-founders Jackson Gates and Asi Behar, as well as the majority of the San Francisco-based company's engineering team, will join Affirm. The current Sweep app will no longer be accessible to consumers starting May 26, but Affirm plans to release what it calls "a more powerful product" combining the technologies of both companies later this year. Affirm gives shoppers the flexibility to buy now and make monthly payments for their purchases. The company uses technology and analytics designed to look beyond traditional FICO scores in assessing customers' credit-worthiness.
https://www.affirm.com
http://sweep.co/
http://www.businesswire.com/news/home/20160427005152/en/Affirm-Acquires-Sweep.co
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o Palo Alto-Based BlueVine Lands New Investment from Citi Ventures
Palo Alto, Calif. -- BlueVine, a Palo Alto-based online provider of financing to small businesses, said on Wednesday it has landed a new investment from Citi Ventures. Financial terms of the deal were not disclosed. The company said it will use the capital to scale its cloud-based working capital financing platform for small businesses and expand into new market segments. The move comes three months after BlueVine landed $40 million in its third round of funding, led by Menlo Ventures. The company, which launched in early 2014, said at the time it was on track to fund more than $200 million in working capital this year.
https://www.bluevine.com
http://www.businesswire.com/news/home/20160427005068/en/Citi-Ventures-Strategic-Investment-BlueVine
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o Sunnyvale-Based Yahoo Reaches Deal with Investor to Add Board Members
Sunnyvale, Calif. -- Ending a month-old proxy fight, Sunnyvale-based Yahoo said on Wednesday it has struck a deal with activist investor Starboard Value to add four new independent directors to its board of directors. They include Tor Braham, the former managing director and global head of technology mergers and acquisitions at Deutsche Bank Securities; Eddy Hartenstein, the former CEO of Tribune and chairman and CEO of DIRECTV; Richard Hill, the chairman of Tessera Technologies; and Jeffrey Smith, Starboard's CEO and chief investment officer. As part of the agreement, Starboard has withdrawn its director nominees. Two incumbent directors, Lee Scott and Sue James, will not stand for re-election, leaving Yahoo's board with 11 members. "This constructive resolution will allow management and the board to keep our focus on our extremely important objectives," said CEO Marissa Mayer.
http://finance.yahoo.com/news/yahoo-announces-board-changes-agreement-130000301.html
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o Santa Clara-Based Aviatrix Systems Names Steven Mih as CEO
Santa Clara, Calif. -- Aviatrix Systems, a Santa Clara-based developer of cloud native networking technology, has named Steven Mih as its new CEO. Mih most recently served as the senior vice president of worldwide field operations at Mesosphere, and previously was the senior vice president of worldwide sales at Couchbase. The news comes seven months after Aviatrix raised $10 million in its first round of funding, co-led by Formation 8 and Ignition Partners. The company, originally seeded by Monta Vista Capital, was founded by Pankaj Manglik, the founder of Aruba Networks, and Sherry Wei, who previously held senior engineering and architect roles at Cisco and Huawei. Aviatrix develops software that enables clients to build hybrid clouds by connecting to dozens of AWS virtual private clouds and Azure VNets without buying additional networking equipment.
http://aviatrix.com/
http://www.businesswire.com/news/home/20160426005631/en/Aviatrix-Names-Steven-Mih-Chief-Executive-Officer
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o Briefly Noted:
(San Francisco) Arxan Technologies, a Maryland-based developer of app protection technology with research and development facilities in San Francisco, has named Mandeep Khera as its chief marketing officer (CMO). Khera most recently served as the vice president of marketing and channels at Daintree Networks. The company also recently hired Jim Love as its senior vice president of worldwide sales.
https://www.arxan.com/arxan-strengthens-leadership-position-mobile-and-iot-application-security/
(Redwood City, Calif.) Redwood City-based Electronic Arts (EA) said it has opened voting to determine the cover athlete for its EA Sports NHL 17 game. Eight players, including Joe Pavelski of the San Jose Sharks, are on the ballot. Fans can vote as many times as they want on NHL.com and Twitter.
https://www.nhl.com/ea-sports-nhl-17-cover-vote
(San Francisco) San Francisco-based Anaplan, developer of a cloud-based business planning and modeling platform, has named David Conte to its board of directors. Conte is the senior vice president and chief financial officer (CFO) of Splunk, and previously served as the CFO of IronKey and Opsware. The news comes three months after Anaplan raised $90 million in a new round of funding, led by Premji Inves.
https://www.anaplan.com
http://www.businesswire.com/news/home/20160427005594/en/Anaplan-Appoints-Splunk-CFO-David-Conte-Board
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