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Software
Nurien Software, a Seoul developer and operator of social networking and online gaming services, has secured $15 million in Series A funding. Investors included Northern Light Venture Capital of Beijing, Globespan Capital Partners of Palo Alto, Calif., New Enterprise Associates of Menlo Park, Calif., and QiMing Venture Partners of Shanghai. Nurien will use the proceeds to launch its social networking service platform and online gaming offerings. It plans to launch this month in South Korea. Founded in 2005, Nurien develops social networking services and online game service platforms that include user-created 3D objects and avatars that interact through virtual worlds and the Web. HealthEdge HealthEdge Software Inc. of Burlington, Mass., has secured a $13 million investment commitment from Psilos Group of New York. The company provides claims and benefit administration, business intelligence and portal software for healthcare payors. HealthEdge will use the funds to increase the size of its business and invest in new products. The company caters to health plans, preferred provider organizations and insurers with software products that provide administrative processes, business intelligence, and Web self-service. Telecom software Red Bend Red Bend Software Inc., a maker of mobile management software for cell phones, has raised $10 million in funding. Coral Capital Management of Minneapolis led the round for the Herzliya, Israel- and Waltham, Mass.-based company. Also participating were Poalim Ventures and Infinity Venture Capital Fund, both of Tel Aviv; and Carmel Ventures, Greylock Partners and Pitango Venture Capital, all of Herzliya. The nine-year-old Red Bend has raised $33 million overall. Red Bend's technology allows wireless carriers to deliver software updates to enable new products and services. Pharmaceuticals Cambria Cambria Pharmaceuticals Inc. of Woburn, Mass., has closed a $5.4 million Series A financing round. Participating investors included Biogen Idec New Ventures of Cambridge, Mass., CommonAngels of Lexington, Mass., and several individual investors. The company is developing disease-modifying small molecules to address neurological disorders. The capital will be used to advance its lead program in ALS, commonly known as Lou Gehrig's disease, as well as drug discovery efforts for other neurological disorders. -- George White
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