The Deal
Wednesday, November 19, 
6:14 pm

[Posted on March 27, 2008 - 4:05 PM]

Semiconductors


Stretch
Programmable chipmaker Stretch Inc. has added $15 million to its second round to close the Series B with $27 million. The funding brings total investment in the company to more than $100 million. The round was co-led by Worldview Technology Partners of Palo Alto, Calif., Oak Investment Partners of Westport, Conn., and Menlo Ventures of Menlo Park, Calif. The same group of investors jump-started Stretch with a $72 million Series A round in 2006. The company targets the video surveillance sector, selling to security companies in China and Taiwan. The company's chips are known as field-programmable gate arrays, meaning that customers can use software to configure the chips. -- Paul Bonanos

Internet

Iovation
Portland, Ore.-based Iovation has added $5 million to its latest round, giving it a total of $15 million. The new funds came from SAP Ventures of Palo Alto, Calif., and Germany's European Founders Fund GmbH. They join Intel Capital of Santa Clara, Calif., which invested $10 million in the first closing. The company provides online security and fraud protection services and will use the fund for the development of new fraud and abuse management solutions. The company's lead product is a device identification service aimed at protecting business on the Internet by preventing charge-backs, identity theft, phishing, click fraud and other abuses.  -- George White

Retail

Goliath Solutions
Marketing intelligence company Goliath Solutions LLC has completed a $16 million Series E financing led by Cordjia LLC of Delaware and The Walnut Group of Cincinnati. Joining the round were CapX Partners of Chicago, Trinity Capital Investments of Laguna Hills, Calif., and Comerica Bank of Dallas. The company also received an additional $11 million in debt commitments. Goliath's technology tracks consumer response to in-store promotional displays, signs and merchandising fixtures by integrating sales data with in-store display execution and location information. The proceeds will be used to fullfill the company's contract with Walgreen Co. for installation of its technology in 6,200 stores, as well as a further rollout of its products to retailers in the grocery, office, specialty and mass channels. -- G.W.

Venture funds

CMEA Ventures
San Francisco's CMEA Ventures has closed its seventh venture capital fund with $400 million. With over $1 billion under management, CMEA invests in energy & materials, information technology, and life sciences. The firm has changed aspects of its investment strategy from its prior fund, a $600 million vehicle closed in September 2004 that targeted semiconductors, high-performance electronics, enterprise productivity and outsourcing technologies and drug development and related drug chemistry. -- P.B.


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