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BAY AREA TECH WIRE -- May 17, 2017
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Sponsored By: Baird Global Technology Investment Banking
http://techservices.rwbaird.com/investment-banking/
o San Francisco-Based OrphoMed Raises $39 Million in First Round
o San Francisco-Based Medrio Lands $30 Million Investment
o San Mateo-Based SurveyMonkey Names Tennis Star Serena Williams to Board
o CloudBees Names Daniel McLaughlin as Finance and Operations Chief
o DDN Names Eric Barton as CTO of Software-Defined Storage
> Baird Commentary: How the IoT Revolution Is Driving Consolidation
o Briefly Noted: Jetlore, Comcast
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> Job/Event/Marketplace Classified Listings (Full Listings Below Stories)
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o San Francisco-Based OrphoMed Raises $39 Million in First Round
San Francisco -- OrphoMed, a San Francisco-based biopharmaceutical firm developing drugs to treat gastrointestinal and hepatic conditions, said on Wednesday it has raised $39 million in its first round of funding, led by New Enterprise Associates (NEA). Takeda Ventures and several other previous backers also participated. Frank Torti, a partner at NEA, and Arthur Pappas, managing partner at Pappas Capital, will join the company's board of directors. The company said it will use the proceeds to advance the clinical development of its lead candidate, for the treatment of irritable bowel syndrome with diarrhea (IBS-D). "There still are a significant number of patients who cannot be treated with existing approved drugs," said Kenneth Widder, OrphoMed's executive chairman. "As such, we feel there is a large opportunity to bring forward a drug which circumvents the limitations of those drugs currently on the market."
http://www.orphomed.com
http://www.prnewswire.com/news-releases/orphomed-secures-39-million-series-a-financing-round-300462961.html
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o San Francisco-Based Medrio Lands $30 Million Investment
San Francisco -- Medrio, a San Francisco-based healthcare technology company providing software and mobile tools for clinical trials, said on Wednesday it has landed a $30 million equity investment from Questa Capital Management. The investment marks the company's first infusion of institutional capital in its 12-year history. Medrio said it will use the proceeds to accelerate the deployment of its new software applications and expand its position in the eClinical market. "This investment will enable us to expand the adoption of our integrated product offering and invest in the next generation of software applications," said founder and CEO Mike Novotny. Founded in 2005, Medrio specializes in electronic data capture, collecting clinical trial data to help study sponsors and contract research organizations set-up and conduct clinical trials.
http://www.medrio.com
http://go.medrio.com/rs/404-GJX-783/images/Medrio_Investment_Press_Release.pdf (PDF)
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o San Mateo-Based SurveyMonkey Names Tennis Star Serena Williams to Board
San Mateo, Calif. -- Adding some star power to its boardroom, San Mateo-based SurveyMonkey, the developer of an online survey platform, on Wednesday named tennis icon Serena Williams to its board of directors. Williams, who has won the most Grand Slam singles titles in history, will join Intuit Chairman and CEO Brad Smith as a new director. They replace Meg Whitman, the president and CEO of HP Enterprise, and Bill Veghte, the executive chairman of Turbonomic, who have stepped down. Both will remain advisors. Off the court, Williams recently has made a name for herself in the business world, being named by Vogue as a "Fashion Trendsetter" for creating her HSN Signature Statement collection. "Serena is an activist, marketer, brand builder and greatest athlete of our time," said CEO Zander Lurie. "Serena's voice on the board sends a strong message to our company, investors and the industry." Williams said SurveyMonkey was a good fit because they "share a fierce commitment to letting all voices be heard."
http://www.surveymonkey.com
https://www.surveymonkey.com/mp/surveymonkey-adds-serena-williams-and-intuit-chairman-ceo-brad-smith-to-board-of-directors/
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o CloudBees Names Daniel McLaughlin as Finance and Operations Chief
San Jose, Calif. -- CloudBees, a San Jose-based developer of tools for automating software development and delivery, on Wednesday named Daniel McLaughlin as its chief financial and operations officer. McLaughlin most recently served as the chief financial officer (CFO) of Fiserv Investment Services, and led the spin-off of ADP Brokerage Services. "We are now ready to take the next big leap in growth," said co-founder and CEO Sacha Labourey. "[McLaughlin] brings broad experience working with technology and software companies to accelerate revenue growth and position them for successful, long-term growth." Founded in 2010, CloudBees is backed by Matrix Partners, Lightspeed Venture Partners and Verizon Ventures.
https://www.cloudbees.com/
http://www.businesswire.com/news/home/20170524005685/en/CloudBees-Appoints-Industry-Veteran-Daniel-McLaughlin-Chief
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o DDN Names Eric Barton as CTO of Software-Defined Storage
Santa Clara, Calif. -- DataDirect Networks (DDN), a Santa Clara-based developer of big data storage products, on Wednesday named Eric Barton as its chief technology officer (CTO) for software-defined storage. Barton, most recently the lead architect for Intel's High Performance Data Division (HPDD), will lead the strategic roadmap, technology architecture and product design for the company's newly created Infinite Memory Engine (IME) unit. He earlier was the co-founder and CTO of Whamcloud. "As we expand our customer base into cloud, AI, machine learning and rack-scale SSD environments, we are excited to have Eric lead our next wave of technological innovation," said Chairman and CEO Alex Bouzari.
http://www.ddn.com
http://www.ddn.com/press-releases/ddn-names-industry-visionary-eric-barton-cto-for-software-defined-storage/
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> PR Summit DC - June 2 - Washington, DC
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o Briefly Noted:
(San Mateo, Calif.) San Mateo-based Jetlore, developer of an AI-powered prediction platform for retailers, said it has promoted Chris Feroli to vice president of sales and hired Dave Orashan as senior director of sales. Feroli most recently served as the company's director of sales, while Orashan was the director of West sales at RichRelevance.
http://www.jetlore.com
http://www.prnewswire.com/news-releases/jetlore-expands-sales-team-to-meet-growing-customer-demand-300460514.html
(Livermore, Calif.) Cable giant Comcast has named John Gauder as its regional vice president for California. Gauder will oversee all of the company's cable operations within its California footprint, where it serves more than 2 million customers and has more than 5,000 employees. Gauder, who will be based in Livermore, succeeds Hank Fore who recently retired after 14 years with Comcast.
http://corporate.comcast.com/
http://www.businesswire.com/news/home/20170523005034/en/Comcast-Names-John-Gauder-Regional-Vice-President
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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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