Wednesday, September 6, 2017

Bay Area Tech Wire - Sept. 6

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BAY AREA TECH WIRE -- Sept. 6, 2017
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Sponsored By: Baird Global Technology Investment Banking
http://techservices.rwbaird.com/investment-banking/


o
San Francisco-Based Turo Raises $92 Million, Plans to Acquire Croove
o EU's Top Court Orders Re-Examination of Intel's $1.3 Billion Fine
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Santa Clara-Based Elastifile Raises $16 Million in New Funding
o
San Francisco-Based Notable Labs Raises $10 Million in First Round
o San Mateo-Based Snowflake Lands New $5M Investment from Capital One
>  Baird Commentary: How the IoT Revolution Is Driving Consolidation
o Briefly Noted:
Cypress Semiconductor, Upgrade, Cohere Technologies
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> Job/Event/Marketplace Classified Listings (Full Listings Below Stories)

--Baird Global Technology Investment Banking
--
Inbox Summit East - Sept. 29 - DC
--Mid-Atlantic Marketing Summit - Baltimore - Sept 15

Full Job, Event, Marketplace and Services Descriptions Below in Classified Ad Section

Post Job/Event/Marketplace ad at: http://www.bayareatechwire.com

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o San Francisco-Based Turo Raises $92 Million, Plans to Acquire Croove

San Francisco -- Turo, the San Francisco-based developer of a peer-to-peer car sharing marketplace, said on Wednesday it has raised $92 million in its fourth round of funding, and announced plans to acquire German counterpart Croove from Daimler. Financial terms of the deal were not disclosed. Daimler and SK Holdings co-led the round, with Liberty Mutual Strategic Ventures and Founders Circle Capital also participating, along with several previous investors. Jan-Michael Graef, the chief financial officer (CFO) of Daimler CASE organization, and Jungho Shin, the vice president of portfolio management at SK Holdings, have joined the company's board of directors. Turo now has raised $193 million since its inception. In addition to the financing, the company said its acquisition of Croove will allow it to expand its presence from existing international markets in Canada and the U.K. to Germany. SK Holdings also will provide strategic support to the company as it considers expansion into South Korea and other Asian markets. Turo currently boasts more than 4 million users, adding more than 1 million in the past four months alone, and over 170,000 cars listed.
http://www.turo.com/
http://www.prnewswire.com/news-releases/turo-raises-92m-series-d-acquires-daimlers-croove-to-continue-global-expansion-300514289.html
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o EU's Top Court Orders Re-Examination of Intel's $1.3 Billion Fine

Santa Clara, Calif. -- The European Union's highest court on Wednesday ordered further legal examination of the EU's then-record $1.3 billion antitrust fine against Santa Clara-based chipmaker Intel in 2009. The case now will return to a lower court, which will explore whether the company used illegal sales tactics in a bid to stifle competitors such as AMD. The fine, which Intel has called "manifestly disproportionate," was upheld by European courts in 2014. Some legal experts, however, now believe the case may be in limbo for years. Earlier this year, European regulators fined Mountain View-based Google a record $2.7 billion for allegedly breaching EU antitrust rules, two years after charging the tech giant with systematically favoring its own comparison shopping product over those of competitors in search results.
https://www.nytimes.com/2017/09/06/business/intel-eu-antitrust-fine.html 
https://www.wsj.com/articles/eus-top-court-backs-intels-appeal-of-2009-antitrust-fine-1504685656?mod=djemalertTECH 
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o Santa Clara-Based Elastifile Raises $16 Million in New Funding

Santa Clara, Calif. -- Elastifile, a hybrid cloud data management company with dual headquarters in Santa Clara and Israel, said on Wednesday it has raised $16 million in a new round of funding, led by Western Digital Capital. New investor CE Ventures and previous investors Lightspeed Venture Partners, Battery Ventures, Dell Technologies Capital and Cisco Investments also took part in the round, which increased the company's total backing to more than $65 million. Elastifile's cross-cloud data fabric offering lets users run applications on modern, elastic infrastructures through public IaaS, on-prem and service providers. The four-year-old company has nearly 100 employees in the U.S., Israel and Europe.
http://www.elastifile.com 
http://www.prnewswire.com/news-releases/elastifile-receives-additional-16-million-to-ramp-its-hybrid-cloud-go-to-market-efforts-300514421.html
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o San Francisco-Based Notable Labs Raises $10 Million in First Round

San Francisco -- Notable Labs, a San Francisco-based startup developing a personalized treatment service for people with cancer, said on Wednesday it has raised $10 million in its first round of funding, led by Builders VC. Several previous backers also took part in the round, which increased the company's total funding to more than $17 million since its inception in 2014. Notable said it will use the funding to build its technology platform and team, as well as support a growing number of clinical feasibility studies in blood cancers. Notable is focusing on finding the best combinations of FDA-approved treatments that can be immediately prescribed by a doctor. Co-founder Matthew De Silva launched the company after his father received a terminal cancer diagnosis that led to frustration with a lack of effective therapies. "We're working closely with forward-thinking oncologists and researchers at top US and Canadian cancer centers to make personalized combination treatment a reality," said De Silva. Jim Kim, founding member and general partner of Builders VC, has joined the company's board of directors.
http://www.notablelabs.com
http://www.businesswire.com/news/home/20170906005569/en/Notable-Labs-Raises-10-Million-Series-Financing
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o San Mateo-Based Snowflake Lands New $5M Investment from Capital One

San Mateo, Calif. -- Snowflake Computing, the San Mateo-based developer of a data warehouse built for the cloud, said on Wednesday it has landed a new $5 million investment from Capital One Growth Ventures, increasing its fourth round to $105 million. Capital One became the first customer of the company's built-for-the-cloud data warehouse -- Virtual Private Snowflake (VPS) -- in July. "We look forward to many years of collaborating with Capital One," said CEO Bob Muglia. The news comes five months after the company announced the first $100 million of the round, led by ICONIQ Capital. Snowflake now has raised $210 million since its founding in 2012.
http://www.snowflake.net 
https://www.snowflake.net/news-items/capital-one-joins-snowflakes-series-d-funding-round/ 
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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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o Briefly Noted:

(San Jose, Calif.) San Jose-based Cypress Semiconductor, a developer of chips used in embedded systems, on Wednesday named Catherine Lego to its board of directors. Lego, previously a partner at two venture capital funds, will serve on the company's audit committee. She also currently serves on the boards of Lam Research and IPG Photonics.
http://www.cypress.com
http://www.businesswire.com/news/home/20170906005680/en/Cypress-Appoints-Catherine-Lego-Board-Directors 

(San Francisco) San Francisco-based Upgrade, a consumer credit platform launched earlier this year by LendingClub founder Renaud Laplanche, on Wednesday named John Dye as general counsel. Dye previously served as the executive vice president, general counsel and secretary of Western Union, and was chairman of the Western Union Foundation.
http://www.upgrade.com 
http://www.businesswire.com/news/home/20170906005559/en/Upgrade-Appoints-Western-Union-Executive-General-Counsel 

(Santa Clara, Calif.) Santa Clara-based Cohere Technologies, a developer of wireless modulation technology on Wednesday named Dick Lynch to its board of directors. Lynch is the president of FB Associates, and previously was the executive vice president and chief technology officer (CTO) of Verizon Communications.
http://www.cohere-technologies.com 
http://www.businesswire.com/news/home/20170906005823/en/Richard-Lynch-Joins-Cohere-Technologies-Board 

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Job/Event/Services Listings:
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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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> Inbox Summit East - Sept. 29 - Washington, DC

Inbox Summit East is a one-day conference that puts a spotlight on the latest and most effective techniques for email marketing. With dozens of panels, presentations and networking opportunities, the summit in Washington, D.C. will take a deep dive into current developments in email marketing and email strategy. Topics will include: Email Deliverability Issues, Current Email Metrics, Integrating Email With Social and Mobile Platforms, Email Content, List Building and Maintenance, Personalized and Customer Centric Email, and the Future of Email.
http://www.inboxsummiteast.com/

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> Mid-Atlantic Marketing Summit - Baltimore - Sept. 15

The Mid-Atlantic Marketing Summit: Baltimore will be held on Sept. 15 at Pier 5 Hotel in Baltimore. Now in its sixth year, the annual summit has become the "must-attend" marketing event for the Mid-Atlantic region and beyond. The summit brings together 300+ CMOs, Senior Marketers, Agency Professionals and Technology Executives from throughout the Mid-Atlantic area. The event features dozens of case studies, keynotes, and presentations on the most important issues facing marketers in 2018.
http://mamsummit.com/

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Post jobs, events, webinars, whitepapers or service ads on Bay Area Tech Wire and grow your business. Reach more than 7,000 business and technology professionals from the Bay Area. http://www.bayareatechwire.com/

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