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BAY AREA TECH WIRE -- May 19, 2017
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o San Francisco-Based KeepTruckin Raises $18 Million in Second Round
o San Jose-Based Xilinx Invests in Machine Learning Startup DeePhi Tech
o San Jose-Based Pixelworks to Acquire ViXS Systems
o San Francisco-Based LendingClub Names Steve Allocca as New President
o San Jose-Based Yaana Technologies Names Jeffrey Zellmer as CFO
o Briefly Noted: Mesosphere, SitterFriends, A10 Networks
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o San Francisco-Based KeepTruckin Raises $18 Million in Second Round
San Francisco -- KeepTruckin, the San Francisco-based developer of a fleet management and telematics platform for trucking companies, said it has raised $18 million in its second round of funding, led by Scale Venture Partners. GV (formerly Google Ventures) and Index Ventures also participated. The four-year-old company's platform includes an electronic logbook app for iOS and Android devices, as well as tools designed to let trucking companies audit driver logs, manage fuel taxes and track vehicles in real-time. The technology is used by more than 300,000 drivers and 10,000 fleets. KeepTruckin said it will use the additional funds to expand its staff in the areas of engineering, sales and support.
https://keeptruckin.com/
https://keeptruckin.com/blog/keeptruckin-raises-18-million-funding/
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o San Jose-Based Xilinx Invests in Machine Learning Startup DeePhi Tech
San Jose, Calif. -- Xilinx, a San Jose-based developer of programmable semiconductor products, said it has invested an unspecified amount in DeePhi Tech, a machine learning startup specializing in deep compression, compiling toolchain and system-level optimization. Founded by researchers from Tsinghua University and Stanford University, DeePhi provides inference platforms from edge to cloud for new AI products and services. The company already uses Xilinx's platforms in commercial products focused on smart surveillance and data center applications. "DeePhi solutions provide breakthroughs in efficiency through techniques like network pruning, compression and use of reduced precision data types," said Nazeem Noordeen, Xilinx's corporate vice president of acceleration and IP solutions, adding that his company's investment signals its commitment to "provide our customers with industry-leading accelerated computing products."
http://www.xilinx.com/
http://www.deephi.com/
http://www.prnewswire.com/news-releases/xilinx-invests-in-machine-learning-pioneer-deephi-tech-300459811.html
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o San Jose-Based Pixelworks to Acquire ViXS Systems
San Jose, Calif. -- Pixelworks, a San Jose-based developer of visual display processing tools, said it will acquire Toronto-based ViXS Systems, a developer of media processing, encoding and transcoding products, in an all-stock deal valued at approximately $20.2 million. Pixelworks said the acquisition will add more than 470 issued and pending worldwide patents to its portfolio, while broadening its product offerings and diversifying its revenue across end markets. Todd DeBonis, the president and CEO of Pixelworks, said the move "represents a unique opportunity to strengthen our position as a known technology leader with extensive visual and video processing expertise." It also is expected to help the company accelerate its development of end-to-end video streaming systems. The deal is expected to close by the end of September.
http://www.pixelworks.com
http://www.vixs.com
http://www.businesswire.com/news/home/20170518006426/en/Pixelworks-Acquire-ViXS-Systems
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o San Francisco-Based LendingClub Names Steve Allocca as New President
San Francisco -- LendingClub, the San Francisco-based operator of an online marketplace connecting borrowers and investors, has named Steve Allocca as its new president. He succeeds Scott Sanborn, who will retain the role of CEO. Allocca most recently led PayPal's credit division and credit products, and previously founded and ran Loan Science, a provider of loan portfolio analytics and management for banks, education companies, insurers and investment firms. "Steve's experience not only ranges from startup to big bank, but also across a broad range of credit products," said Sanborn.
https://www.lendingclub.com
http://ir.lendingclub.com/file.aspx?IID=4213397&FID=2000603541
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o San Jose-Based Yaana Technologies Names Jeffrey Zellmer as CFO
San Jose, Calif. -- Yaana Technologies, a San Jose-based developer of systems designed to help clients meet compliance needs in the information communications and cloud markets, has named Jeffrey Zellmer as its new chief financial officer (CFO). Zellmer, who will oversee the company's corporate finance, accounting, human resources and general administration, previously served as the CFO of MetricStream, Dental Technologies and Silicon Graphics. He has completed more than $500 million in equity and debt financing transactions.
https://www.yaanatech.com
https://www.yaanatech.com/news-and-press/
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o Briefly Noted:
(San Francisco) San Francisco-based Mesosphere, developer of a platform for building and running data-rich, containerized applications, has named Patrik Svanstrom as its vice president of EMEA sales, tasked with leading its Europe-based sales team. Svanstrom previously held executive management positions at MapR, Informatica, HP, EMC and Oracle.
http://mesosphere.com
http://www.prnewswire.co.uk/news-releases/mesosphere-expands-presence-in-europe-with-new-vp-sales-622893124.html
(San Francisco) San Francisco-based childcare startup SitterFriends said on Friday it has landed a new investment from Mahesh Lingareddy, the founder of Soft Machines and Smartron. Financial terms of the deal were not disclosed. Set to launch in June, SitterFriends is the developer of a mobile app that lets users book and review baby sitters in their local communities.
http://www.sitterfriends.com/
http://www.businesswire.com/news/home/20170518006545/en/Entrepreneur-Mahesh-Lingareddy-Joins-SitterFriends-Investor-Advisor
(San Jose, Calif.) San Jose-based A10 Networks, which provides a range of high-performance application networking services, has named Tom Constantino as its executive vice president and chief financial officer (CFO). Constantino previously served as the vice president and head of accounting and finance operations at Western Digital, where he was instrumental in the company's acquisition of SanDisk.
https://www.a10networks.com
http://www.businesswire.com/news/home/20170519005122/en/A10-Networks-Names-Chief-Financial-Officer
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> Baird Commentary: How the IoT Revolution Is Driving Consolidation
In a recent commentary on the ever-evolving Internet of Things (IoT) revolution, Baird's senior technology bankers discuss how the proliferation of IoT-enabled software and services and ongoing industry consolidation. Today's sophisticated IoT software and systems not only connect disparate devices, they collect, verify and cleanse data -- diminishing the long-time challenge of cutting through "noise" inherent to data aggregation and facilitating in-depth analysis and application of the collected information into actionable intelligence. This IoT revolution is quickly catching up to its hype by transforming businesses across many sectors. The value of IoT technology has become imperative, and growing demand is fueling tremendous acquisition interest from a diverse range of buyers, pushing competition higher and accelerating consolidation in the space. Read Baird's insights into this rapidly evolving space and the related M&A activity: http://www.rwbaird.com/news/Unlocking-Intelligence
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