Healthcare
Trupanion
Trupanion, a provider of pet healthcare coverage, has secured $22 million in funding from Maveron LLC of Seattle. The startup was founded in 2000 in Canada and recently moved to Mountlake Terrace, Wash. The proceeds will be used for U.S. expansion and for marketing through veterinary clinics. The company allows pet owners to start buying insurance only when their puppies and kittens are less than one year old, and provides $20,000 in coverage throughout the pet's lifetime.
Software
Incipient
Waltham, Mass.-based storage software maker Incipient Inc. has raised $15.6 million in a Series E round. The startup provides enterprise-class storage virtualization and automated data migration software. Investors in the round included HLM Venture Partners, Sigma Partners and Globespan Capital Partners, all of Boston; GrandBanks Capital of Newton Center, Mass.; Greylock Partners of Waltham; QuestMark Partners of Baltimore; and Wasatch Advisors of Salt Lake City. Incipient has raised a total of $94.6 million in five rounds since 2001. The funds will be used for continued development, sales and marketing of a storage virtualization product.
Pentaho
Orlando, Fla.-based Pentaho Corp., an open source developer of business intelligence software, has completed a $12 million financing. The round was led by Benchmark Capital of Menlo Park, Calif., and joined by existing investors Index Ventures of Geneva, and New Enterprise Associates of Baltimore. Pentaho will use the proceeds for growth, research and development, as well as international expansion. Founded in 2004, Pentaho's software suite provides reporting, dashboards, data integration, and data mining.
Semiconductors
Teranetics
Santa Clara, Calif.-based ethernet technology provider Teranetics, Inc. has raised $25 million in equity financing. The capital came from strategic investor LSI Corp. and unnamed existing investors. The money will be used to fund the growth phase of the company's business plan. Teranetics is developing mixed-signal semiconductor and digital communication technology for 10-Gigabit Ethernet.
Medical devices
Accumetrics
Medical device maker Accumetrics Inc. has raised $28.8 million in Series D financing. The investing syndicate was led by Arnerich Massena & Associates, Inc. and BBT Fund LP. Also participating in the round were previous investors Essex Woodland Health Ventures of The Woodlands, Texas; RiverVest Venture Partners, PTV Sciences of Houston; KB Partners of Northbrook, Ill.; and Kaiser Permanente Ventures of Oakland, Calif. San Diego-based Accumetrics makes a broad line of blood-sample diagnostic tests. The new funding brings Accumetrics' total backing to $53.3 million since current management acquired the company for an undisclosed amount in 2003 to expand its blood platelet test technology.
Pharmaceuticals
Ocera Therapeutics
Biopharmaceutical company Ocera Therapeutics Inc. has closed a $35.5 million Series C financing that will enable it to push its lead drug candidate for treatment of Crohn's disease through Phase 3 clinical trials. The San Diego company tapped new investor Montagu Newhall Associates Inc. of Palo Alto, Calif., to lead the round. Other newcomers included InterWest Partners of Menlo Park, Calif., AgeChem Venture Fund of Montreal, Cross Creek Capital of Salt Lake City, FinTech GIMV Fund LP of Japan and CDIB BioScience Venture Management of San Diego. Existing stakeholders Domain Associates LLC of Princeton, N.J., and Thomas, McNerney & Partners and Sofinnova Ventures, both of San Francisco, also participated in the round. The proceeds will primarily go toward putting the lead drug candidate, AST-120, through Phase 3 trials for treatment of Crohn's, a chronic inflammatory bowel disease. n
Manufacturing
N-Trig
Tel Aviv, Israel-based display technology startup N-Trig Ltd. raised $28 million in a first round of institutional venture capital from Canaan Partners and Evergreen Venture Partners, to advance sales and marketing of proprietary electromagnetic touch screen technology to mobile computer manufacturers. The deal comes on top of $22 million in previous investment from angel investors since the company was formed in 2000, and culminates development of screen technology the company has been working on since shifting from the gaming market in 2003. The new funding is expected to be the company's final private round, and is coupled with a $5 million credit facility from Plenus Venture Lending Fund of Israel that will take the company to positive cash flow in 2009. -- Clifford Carlsen
Financial services
Swift
Swift Financial, an online financial services company targeting small businesses, has secured $20 million in financing. Permit Capital LLC of West Conshohocken, Pa. led the round, which also included Sutter Hill Ventures of Palo Alto, Calif., Village Ventures of Williamstown, Mass., and Milwaukee-based Marshall & Ilsley Corp. Wilmington, Del.-based Swift targets the "micro small business segment," or businesses with annual revenues of $2 million or less, in the US. Swift provides banking products such as lines of credit, free checking and deposits to small business owners. n -- Luisa Beltran
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