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Internet Highwinds Content distribution network Highwinds Network Group Inc. raised $55 million in new equity funding. The Winter Park, Fla., startup tapped General Catalyst Partners of Cambridge, Mass., and Alta Communications of Boston to lead the round. Highwinds operates an Internet content delivery infrastructure, called RollingThunder. CDNs typically manage a private network of interconnected servers and high-speed fiber-optic network connections that allow users to quickly access high-bandwidth content such as animation, streaming audio and video. -- G.W. TargetSpot New York's TargetSpot Inc. raised $8.6 million in Series B financing. The round was led by Bain Capital Ventures of Boston, joined by existing investors Union Square Ventures of New York, CBS Corp. and Milestone Venture Partners, both of New York. Jeffrey Glass, a Partner at Bain Capital Ventures, will join the company's board of directors. TargetSpot has developed a streaming radio advertising platform that is used by over 500 radio stations. The funds will be used to expand TargetSpot's team of technologists and sales professionals. Launched in 2007, TargetSpot allows businesses to create, buy and place their own advertising within streaming media. The online ad platform allows advertisers to make customized audio, video, banner and text ads with jingles, sound effects and visuals provided by TargetSpot. -- G.W. Telecom software Palringo British cell-phone software developer Palringo Ltd. secured $5 million in Series B funding led by Redwood City, Calif-based ePlanet Ventures and NTEC, which invested $1.2 million apiece. Newcastle-upon-Tyne, England-based Palringo has developed a service called "Vocal Instant Messaging" that allows users to transform the mobile phone into a "walkie-talkie," with instant exchange of voice and pictures among registered "buddies." First-round investors include U.K.-based North Star Equity Investors Ltd, Amsterdam's Prime Technology Ventures and Esther Finance, with each returning with additional investments of £400,000. -- Jonathan Braude Software Universal Ad Universal Ad Inc. has completed a $8.5 million Series B financing led by Israel's Vertex Venture Capital. Also participating were Walden Israel and Western Technology Investment. The Bnei Brak, Israel-based startup is a provider of retail advertising, marketing and promotions software. The capital will be used for new customer deployments, for product development and for sales and marketing activities. Elisheva Yakobovich and Yoram Oron from Vertex will join the company's board. -- G.W. Pharmacueticals EKR Therapeutics Cedar Knolls, N.J.-based specialty drug marketer EKR Therapeutics Inc. has raised $50 million in new equity and put in place a $95 million debt facility, to accommodate a recent acquisition and support growth of its sales infrastructure. The three-year-old company brought in new investors MPM Capital of Boston and LLR Partners of Philadelphia to lead the deal, joining previous investors Quaker BioVentures of Philadelphia, NewSpring Capital of Radnor, Pa., the Garden State Life Sciences Venture Fund of Trenton, N.J,. and ESP Equity Partners of Cedar Knolls, N.J. GE Capital Healthcare Partners of Stamford, Conn., will foot the new debt financing to bolster earlier debt financing from Merrill Lynch Capital Healthcare Finance Group of New York. The new capital will fund last month's $85 million acquisition of a portfolio of acute care products from PDL BioPharma Inc. and support additional proprietary products including cardiovascular, pain management and oncology products for the acute care market. -- C.C.
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