INFORMATION TECHNOLOGY
GRIDSTONE
San Mateo, Calif.-based Gridstone Research raised $10 million in a second round of funding led by Helion Venture Partners of Bangalore and including other previous investors Charles River Ventures of Boston and Maverick Capital of San Francisco. The funding will support hosted software for financial analysts that automates extraction of financial data from regulatory filings, press releases and earnings calls to aggregate financial and operational data and guidance beyond the scope of traditional financial reports. The company was formed by veterans of Indian outsourcing giant Infosys Technologies Ltd. and has all its development and operations staff in Bangalore. --Clifford Carlsen
INTERNET
USTREAM
Online video broadcasting platform Ustream.tv Inc. of Los Altos, Calif., disclosed an $11.1 million Series A round of funding. Investors in the round were DCM and the Band of Angels, both of Menlo Park, Calif., and Labrador Ventures of Palo Alto, Calif. Other Ustream stakeholders include Western Technology Investment of San Jose, Calif., and Infinity Venture Partners Incubator Fund of Japan. Ustream enables individual users to create live broadcasts of events and claims to have gathered more than 2 million users and 250,000 broadcasters since the site was launched in March 2007.
QIK
Mobile live video service Qik Inc. said it had received $3 million in second-round venture funding from individual investors, including Salesforce.com Inc. co-founder Marc Benioff, TeleSoft Partners founder Arjun Gupta, and Jingle Networks Inc. chief executive George Garrick. Based in San Mateo, Calif., Qik allows users to create live video streams that can be transferred to blogs, social networks, video sites and microblogging services. -- Paul Bonanos
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