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Media Skyflying Media Beijing's Skyflying Media has raised $85 million in Series A equity financing. Investors included Goldman Sachs & Co. of New York, Farallon Capital Management LLC of San Francisco and China-based New Horizon Capital and Sequoia China. Founded in 2006, Skyflying Media is a Chinese outdoor media advertising operator focused on airports, subway stations and railway stations in Chinese cities including Beijing, Guangzhou and Shenzhen. Software Coverity San Francisco software developer Coverity Inc. has raised a $22 million first round from Foundation Capital and Benchmark Capital, both of Menlo Park, Calif. The company, which has had positive cash flow for five years, will use the funds for sales and marketing, to expand its product portfolio and for R&D. Coverity's technology enables software developers to repair application defects and identify security vulnerabilities early in the development process. Networking Safend Safend, a Tel Aviv developer of endpoint security technology, has closed a $9 million Series C. Investors included insiders Elron Electronic Industries Ltd. of Tel Aviv, Walden Israel Venture Capital of Herzliya, Israel, and Intel Capital of Santa Clara, Calif., as well as an unnamed European asset management firm. Founded in 2004, Safend develops enterprise security technology to prevent data leakage and intrusion from enterprises through desktops, laptops, mobile devices and the other devices that can be connected to these endpoints through all physical and wireless communication channels. Pliant Technology Pliant Technology Inc. of Milpitas, Calif., has received an $8 million Series A funding for development of a class of solid state drive storage devices for enterprise computing. The Series A funding was led by Lightspeed Venture Partners of Menlo Park, Calif. Pliant claims that its Enterprise Flash Drive devices will deliver dramatically higher levels of performance, while providing increased energy efficiency and reliability in enterprise computing environments. Financial services IPP IPP of America Inc., a provider of electronic payment services, has closed a $20.5 million round led by Old Lane LP of New York. Also participating in the round were Hamilton Investment Partners LLC of New York and existing investor Edison Venture Fund of Lawrenceville, N.J. Launched in 1993, Fairfield, N.J.-based IPP operates a national network of independent walk-in payment centers. The investment will be used to increase the number of electronic payment services that IPP offers, as well as for development of its operating platform. IPP provides real-time payment processing for wireless carriers, satellite and cable companies, and other electronic bill payments.
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