Venture Capital News for 2016 - Who's Funding, Who's Getting Funded

GoSpotCheck Raises $16.5 Million in Series B for Field Execution Management

Insight Venture Partners led $16.5 million in Series B funding to GoSpotCheck. Existing investors, including Point Nine Capital, also added to the round. This latest round brings GoSpotCheck’s total funding to $26 million. The company also noted that it has experienced  100% plus in revenue growth since its Series A in August of 2015.
GoSpotCheck offer enterprises and field teams a field execution management app to collect survey data, the platform runs the web and as a mobile app.
“We’re seeing more validation in the market than ever before. SaaS-based solutions have proved critical for brands and merchandisers in all industries looking to get ahead with real-time insights and intelligence into the field or even into their own stores,” said GoSpotCheck CEO Matt Talbot. “Our funding will help us stay ahead as the leading field execution management platform, and Denver’s Best Place to Work, as awarded by the Denver Business Journal in May of 2016.”
GoSpotCheck will use the cash for new office space. GoSpotCheck is building a new, 16,000 square foot building next to its current headquarters. The funds will also go toward staffing for the new headquarters and the company expects to be at more than 100 employees by the end of this year.
“We are pleased to partner with GoSpotCheck as they continue to grow their mobile data collection platform, giving enterprises the tools they need to drive meaningful results. Mobile-first workflow software within the enterprise, typically replacing and streamlining previously manual processes, is a theme that will continue to be an important software trend.” said Harley Miller, vice president at Insight Venture Partners.
GoSpotCheck is located in Denver, Colorado.

Dizzion Secures $6.4 Million Series A1 Financing for Desktops as a Service Market

Grotech Ventures and Access Venture Partners co-led the $6.4 million Series A1 financing round to Dizzion with participation from Point B Capital and Correlation Ventures. The company also announced that Roy Dimoff, retired ViaWest chairman, CEO, and co-founder has joined Dizzion’s board of directors.
Dizzion offers cloud-based Desktops as a Service (DaaS), including secure endpoints, HIPAA and PCI compliance, application delivery and storage to industries with remote global workforces, such as healthcare, financial services and insurance. Customers using Dizzion’s DaaS include AARP, Delta Dental, and TELUS International. Dizzion works with over 40 channel partners, including ViaWest, Zayo, CarrierSales, SPS, and Hosting.
“Dizzion is addressing a colossal shift in the workforce toward remote employees, cloud computing and application integration—and it’s not an easy transition for most companies,” said Steve Prather, CEO, Dizzion. “We are committed to providing the only virtual desktop that eliminates the complexity of traditional desktop management while addressing endpoint security and compliance risk, and we want to thank our investors for sharing in this vision.”
Dizzion will use the new funds to increase staff, expand its partner program and advance its virtual desktop technologies to position itself in the growing Virtual Desktop Infrastructure (VDI) market which is expected to top $11 billion by 2023.
According to the company, it expects record growth this year, following three consecutive years of more than 100 percent year-over-year revenue, customer and personal growth. Dizzion has seen average annual revenue growth of 207 percent since its founding in 2011.
“Dizzion is proving that a wide range of companies and industries can benefit from implementing these types of cloud technologies, including solving critical business challenges, lowering IT costs and mitigating risks—all qualities we value,” said Brian Wallace, managing director, Access Venture Partners. “We’re pleased to support Dizzion and look forward to accelerating its growth as it redefines how the world works.”
Dizzion is headquartered in Denver, Colorado.

Zeta Raises $45 Million in New Funding for SaaS-Based Marketing Cloud

Business development companies managed by FS Investments and sub-advised by GSO Capital Partners , Cerberus PNC Senior Loan Fund, and PNC Bank led the $45 million in new financing to Zeta. In summer 2015, Zeta had also secured $120 million funding round led by FS Investments/Blackstone’s GSO Capital Partners.
David A. Steinberg and John Sculley, the former CEO of Apple Computer and Pepsi-Cola, founded Zeta in 2007. Zeta’s SaaS-based cloud technology is used by 500 plus Fortune 1000 and ‘Middle Market’ brands for customer relationship management through data analytics and machine learning.
“Deepening our relationship with FS Investments, Blackstone and GSO, as well as adding affiliates of Cerberus and PNC to our financing sources strengthens our balance sheet as we continue to invest in our company’s growth,” said David A. Steinberg, Zeta Interactive’s CEO and co-founder. “As Zeta drives towards realizing our vision of solving CMOs’ biggest challenges by making data actionable at every step of the customer journey, the acquisition of Acxiom Impact gets us there faster.”
This funding news comes on the heals of Zeta’s acquisition of Acxiom Corp’s (NASDAQ: AXCM) email services unit, called Acxiom Impact. The acquisition expanded the company’s Fortune 500 customer base and increased its percentage of long-term subscription revenue.
“When David and I started this company in 2007, we began with a big idea,” said John Sculley, Zeta’s co-founder. “I’m proud of what we’ve accomplished so far and incredibly optimistic about what’s to come. It’s amazing to see how David and his team have taken Zeta to the next level by focusing on solving problems for the company’s blue-chip client base.”
Zeta will use the new funds to integrate its Impact purchase into its technology platform as well as grow its U.S., U.K. and further international locations.
Zeta is headquartered in New York City with 1,300 employees operating in 25 offices across four continents,  including offices in Silicon Valley, Boston, London, and Hyderabad, India.

Compass Receives New $75 Million Round for Real Estate Platform

Wellington Management Company LLP led the $75 million round. IVP, which led Compass’ last round, Thrive Capital, Founders Fund, and 406 Ventures contributed to the new round. In September 2015, Compass secured $60 million Series C financing and has raised $210 million in capital to date.
Launched in New York in 2013, Compass operates a real estate platform for home buying, selling, and renting. The company has offices in Washington DC, Miami, Boston, the Hamptons, Cambridge, Beverly Hills, Malibu, Pasadena, Santa Barbara, and Aspen. A San Francisco office is planned for the fall. The firm accounts for nearly $7 billion in annual sales in the U.S. housing market.
“This funding will provide us with additional resources to accelerate our growth into new markets and inject transformative technology to improve the experience for consumers and agents,” said Ori Allon, founder and executive chairman of Compass. “When it comes to technology, the real estate industry is fragmented and regional systems don’t talk to each other. There is no reason the real estate process shouldn’t be transparent, convenient, expedient, and intuitive. Compass is aiming to change that.”
Compass Markets, a real time market intelligence app with up-to-the-minute housing data for consumers and agents launched in early 2016.
The company also launched a global sports and entertainment division dedicated to celebrities and professional athletes in the market for a new home.

Abodo Secures $4.8 Million Series A Funding for Apartment Rental Search

4490 Ventures led the $4.8 million Series A financing round with participation from American Family Ventures and Flyover Capital. Abodo’s total funding stands at $8 million, including its Series AA.
Founded in 2012, Abodo provides apartment rental listings search.
“Abodo is bringing innovation to a sector that has lacked significant innovation for decades,” said Greg Robinson, managing director of 4490 Ventures. “Abodo gives a younger apartment seeker an experience that is modern and consistent with their mobile lifestyle.”
According to the company it has seen a 600 percent user growth rate over the past year.
“This round will be used to continue our mission to innovate in the apartment listing space in order to bring meaningful change to the way people find apartments today”, said Alec Slocum, Abodo CEO. “We’re extremely excited to use the funding for continued national growth and expansion.”
Abodo is headquartered in Madison, Wisconsin.

Velocity Gets $22.5 Million in Series B Funding for Fine Dining App

DIG Investments led $22.5 million Series B funding round to Velocity with participation from Barry Sternlicht, founder of Starwood Hotels Group, and John Paul, the concierge company. In 2015, Velocity secured $16 million in first round financing.
Velocity operates a restaurant and fine fining search and booking app. Some of the 1,100 restaurants using the app include New York’s Blue Hill, Catch, Bowery Meat Company, Craft Restaurants, Toro, Lure Fishbar and Ippudo; Miami’s Alter, Casa Tua, Estiatorio Milos and Komodo; San Francisco’s Slanted Door and Cala; Los Angeles’ Leona, Boa, Ysabel, Mercado and Scopa Italian Roots and London’s Park Chinois.
“We are delighted to announce this milestone, which has made us one of the best-funded startups in the global space,” said Zia Yusuf, co-founder and co-CEO of Velocity. “Our Series B funding is an important step forward in growing our brand, increasing our bandwidth for exciting new features and building our presence in the greatest cities around the world.”
The company has made acquisitions within the restaurant and hospitality app market including Cover, the dining mobile payments app; Tab Payments, a Canadian mobile payments app and Uncover, the first restaurant discovery and mobile reservations app in the U.K.
“Unlike years past when luxury goods dominated the market, affluent consumers are now spending approximately the same amount on upscale hospitality experiences,” commented Alex Macdonald, co-founder and co-CEO of Velocity, on recent shifts in upper-class consumer spending. “As a result of our Series B financing, we now have the resources we need to keep Velocity at the forefront of this movement.”
Early investors in Velocity include Initial Capital Partner, Shukri Shammas, Tom Glocer, board member and chairman of Morgan Stanley’s Technology Committee and former Thomson-Reuters CEO, and Lars Christensen, founder & CEO of Saxo Bank.
Founded in 2014, Velocity has offices in London,  New York, Los Angeles, Miami and San Francisco.

Mediamorph Secures $21.2 Million in Series C Funding for Cloud Based Content Management

Advance Vixeid Partners (AVP) led $21.2 million Series C round to Mediamorph.  Existing investors Liberty Global Ventures and Smedvig Capital contributed to the round.
Mediamorph offers a cloud-based, content management platform for content providers and content platforms within the media & entertainment industry.
The company will use the financing to build out its technology platform and to advance business development initiatives.
“In the last 24 months, we have made tremendous progress in advancing the capabilities of our platform,” said Rob Gardos, CEO of Mediamorph. “This investment will help us to accelerate our growth and will enable Mediamorph to deliver even more value to our customers.”
Mediamorph is headquartered in New York, New York with office in Los Angeles, California and London, England.

Goat Raises $5 Million in Funding for Sneaker Buy and Sell App

Matrix Partners led the $5 million in funding with participation from Upfront Ventures and Webb Investment Network. This brings Goat’s total funding to $12.6 million. Andreessen Horowitz, First Round Capital, NEA, SV Angel and Y Combinator took part previously. Josh Hannah, Matrix Partners’ general partner, will join Goat’s board of directors.
Founded in 2015 in Los Angeles, California, Goat offers mobile app to buy and sell sneakers. The app is available for free from App Store and Google Play. According to the company, its app has 500,000 members.
Goat will use the funds to expand in the U.S. and internationally. And make new hires in engineering, product and marketing posts. The company is looking to target the sneaker resale market which is estimated at $1 billion.
“The sneaker community is very passionate, but has been left using outdated platforms for reselling,” says Eddy Lu, co-founder and CEO of Goat. “We’ve tapped into the market, offering a technologically advanced service they could use on the go.”
In order to oversee quality control and weed out counterfeit goods, Goat verifies all sellers and requires sellers to ship product to the company’s warehouse first for verification. For any products shipped as replicas or not as labeled, the company offers a full refund to the buyer.
“With the number of replicas flooding the sneaker market, our authentication service is becoming increasingly necessary,” says Lu, who estimates more than 10% of premium sneakers that are being resold are replicas.
Josh Hannah, general partner at Matrix added, “traditionally, consumers purchasing rare or vintage sneakers online had trouble finding what they were looking for, and then couldn’t be certain of authenticity.” “With Goat’s simple mobile app and commitment to verifying authenticity for every order, they provide a convenient and secure marketplace for sellers and consumers. We’re thrilled to invest in Goat and the future of the sneaker resale industry.”

RedShelf Secures $4 Million Series B Funding for eTextbooks Platform

Coniston Capital led the $4 million series B funding to RedShelf. Existing investors including the National Association of College Stores (NACS) contributed to the round. The company also announced that Rick Patterson of Coniston Capital has joined RedShelf’s board of directors.
RedShelf will use the financing for new product development and code new features into its existing cloud-based eReader platform. It will also make new hires, including 14 new positions split between developers and business development staff.
RedShelf partners with over 500 college and university bookstores, offering ebooks and other digital content from over 600 publishers. Users can also purchase titles directly from the company’s website. According to the company users can save up to 60% on its ebook platform, compared to purchasing printed text books.
“RedShelf’s continued growth proves they have a firm understanding of the needs of both the higher education and publishing communities,” said Rick Patterson of Coniston Capital. “I’m excited about RedShelf because they’ve been able to penetrate the higher ed market with a unique business model that is making digital course materials for college students more affordable, accessible, and easy to use. The company is bringing elite educational software to the learning community and bridging the gaps between the central players in the industry.”

Songkick Notes $15 Million Financing Round for Music Ticketing and Discovery Platform

Access Industries led $15 million round of funding to Songkick. The company also announced the opening of a west coast office located in Los Angeles.
Songkick runs an artist-ticketing and concert discovery platform with concert ticketing in over 60 countries. According to the company its proprietary technology increases ticket sales to fans and fights ticket scalping. Soundkick works with artists including Metallica, J. Cole, Mumford & Sons, Pixies, Red Hot Chili Peppers, Paul McCartney.
“We’ve always been focused on aligning with artists and connecting them directly with their fans,” said Matt Jones, chief executive of Songkick. “The biggest myth in live music is that ticket scalping is somehow impossible to prevent, but with the right focus and the right tools, these issues can be solved, and Songkick is at the leading edge of solving them. Through our technology we’re reducing scalping, giving real fans a better chance of getting tickets to the shows they’ve waited so long to attend, and generating more revenue for artists along the way.”
Songkick has offices in London, Los Angeles, Nashville and New York.

Panopto Secures $42.8 Million in Funding for Video Content Management

Sterling Partners led the $42.8 million in funding to Panopto. Existing investors and management participated, including a senior credit facility underwritten by Square 1 Bank.
Panopto is a provider of enterprise and education video content management platform that allows organizations to capture, manage, search and stream video assets.
Panopto will use the financing for business expansion in video content management, recording, and live streaming.
“Over the past nine years, we’ve had the privilege of helping millions of students and employees improve themselves and their organizations through video-based learning,” said Eric Burns, co-founder and CEO of Panopto. “With Sterling Partners, we’ve found the ideal investor to help us bring this enabling technology to more businesses and universities around the world. Sterling’s portfolio breadth, unique experience across enterprise and education technologies, and deep networks will propel us to the next level of growth and market presence.”
Its customers include include New York Life, GE Healthcare Digital, Yale University, Brown University, and the Wharton School of Business. The company’s Panopto Cloud – a repository of over two million expert learning videos – streams more than 100 years worth of video content each month.
According to Jason Rosenberg, managing director at Sterling Partners, “within five years, video will be the dominant form of online communication. As demand for this technology continues to accelerate, Panopto is leading the industry in product innovation and organizational capability. With its explosive growth in the enterprise, its dominant position in higher education, and its significant technological advantages over its competitors, Panopto is set to emerge as the leader in this multibillion-dollar market.”
Panopto is headquartered in Seattle with offices in Pittsburgh, London, Hong Kong, Beijing, and Sydney.

Fooji Raises $800K Seed Capital for Fan Engagement Platform

Omaha-based Dundee Venture Capital led the $800K seed round to Fooji with participation from KGC Capital. Fooji operates a real-time fan engagement platform through social and chat networks.
Fooji will use the funding to build its sales team and hire engineers to perform platform integrations and to further develop analytics and reporting capabilities of its product.
“Brands win when they engage audiences on social and chat, and Fooji provides a way to supercharge interactions,” said Mark Hasebroock, founder of Dundee Venture Capital. “Dundee focuses on startups that think outside the box, and Fooji is a prime example of how original thinking can quickly yield Fortune 500 customers and exponential growth.”
Brands using Fooji’s platform include Fox, Verizon, Warner Bros. and AB Inbev.
“Partnering with Dundee Venture Capital and KGC Capital puts Fooji in a strong position to accelerate the expansion of our platform’s capabilities and team,” said Gregg Morton, co-founder and CEO of Fooji. “Most importantly, the Fooji team is proud to be executing against our vision of creating technology that connects with fans on a personal level. We believe brands are only beginning to tap into the potential of personalized, real-time engagement.”
Fooji is located in Lexington, Kentucky.

Centricient Gets $6.5 Million Funding Round for Customer Service Messaging in the Cloud

Venrock led the $6.5 million round of funding to Centricient with participation from Next Frontier Capital. With the financing Venrock’s Nick Beim will join the Centricient board of directors.
Centricient’s product – Centricient Messaging – is a cloud software application that connects business and customers. With the application a customer can connect to a company rep by using existing and popular messaging platforms such as Facebook Messenger and SMS/Text messaging.
“Modern consumers don’t have time for phone calls, and waiting for an email response is worse than watching paint dry,” says Mike Myer, founder & CEO of Centricient. “With Centricient Messaging, a customer can use their favorite messaging app to be immediately connected with a company representative.” Myer was formerly CTO and VP of product development at RightNow which was acquired by Oracle in 2011.
Centricient Messaging features include a UI ability to handle simultaneous conversations, real-time monitoring for managers and performance metrics. Its contact center features include queuing, routing, transfer and collaboration.
Centricient can also integrate with Oracle Service Cloud, Salesforce and Zendesk. Centricient also announced a partnership with Helix Business Solutions, a Oracle Service Cloud solutions integrator. The partnership is intended to promote Centricient Messaging to the Oracle Service Cloud customer base.
“We’ve been keenly interested in how messaging will change business practices,” said Nick Beim of Venrock. “We believe that messaging will become a significant channel of communication in the contact center. And there’s no other team more qualified to make it happen.”
RightNow is headquartered in Bozeman, Montana.

ThreatQuotient Secures $12 Million in Series B Funding for Network Threat Intelligence

New Enterprise Associates (NEA) led the $12 million in series B funding to ThreatQuotient. Existing investors Blu Venture Investors and the Center for Innovative Technology (CIT) joined in the round. With this round, Peter Barris, NEA’s managing general partner, will join ThreatQuotient’s board of directors.
ThreatQuotient will use the funds for product development and global expansion of its business.
“With a robust ecosystem of technology, channel and other go-to-market partners supporting our customers and a rapidly expanding pipeline, it is easy to see that ThreatQuotient has accomplished a lot in a short period of time,” said John Czupak, president and CEO of ThreatQuotient. “This increased investment is a testament to that success, and will allow us to stay at the forefront of innovative threat intelligence solutions.”
ThreatQuotient’s flagship product ThreatQ provides customers with a threat intelligence platform (TIP) that allows systems analysts to monitor networks for data security threats. ThreatQ features include a threat library, an adaptive workbench and an open API exchange.
“ThreatQuotient has established itself as a leader in threat intelligence platforms by winning the mindshare of premier customers and building a world-class organization to support them,” added NEA’s Barris. “The need for an intelligence-driven approach to cybersecurity is evident, and the success that ThreatQuotient has achieved makes it clear that our investment will further accelerate their growth.”
ThreatQuotient is headquartered in Reston, Virginia.

MediaBrix Adds $6.5 Million in Funding for Mobile Ad Campaigns

Edison Partners, Revel Partners, and new investor Horizon Technology Finance led the $6.5 million in funding to MediaBrix. This brings MediaBrix’s total funding to $18 million to date.
MediaBrix delivers mobile ad campaigns for brands such as Merck, AT&T, Hershey’s, Ford. MediBrix campaigns reach more than 200 million global mobile users each month. In 2016 MediaBrix expanded its operations to Canada and added offices in San Francisco, Los Angeles, Detroit, Chicago, and New York.
“For five years, we’ve been perfecting our approach to mobile advertising. By staying true to our principles of respecting a user, allowing brands to offer real value in dynamic ways, and always understanding it’s a human that brands want to interact with, we’ve elevated the standards for our industry, so this milestone — and the validation of our investors — is beyond gratifying,” said Ari Brandt, CEO and co-founder of MediaBrix. “With this funding, we will continue to ramp our programmatic offerings, invest in R&D and expand our data sciences team focused on consumer receptivity.”
In addition to the funding announcement, MediaBrix recently signed on Richard Kosinski in the position of president and global chief revenue officer who is tasked with accelerating market growth. Kosinski was most recently the U.S. president for Unruly, and has worked at media brands such as Yahoo!, Quantcast, The Wall Street Journal, and CNET.
“Consecutive quarters of profitable growth validate MediaBrix product differentiation and customer value delivered in an industry filled with ad solutions that consumers find annoying or have become blind to. Our faith in their mission has never been stronger,” said Ryan Ziegler, general partner of Edison Partners. “MediaBrix has been driving innovation, and in turn driving company growth, for years, and we are glad to be at their side.”

CellSavers Gets $15 Million in Series A for Mobile Smart Phone Repairs

Carmel Ventures led $15 million in Series A funding to CellSavers. Seed capital investor Sequoia Capital participated in the round as well.
CellSavers runs a network of mobile phone technicians. If a customer’s mobile is broke, that customer can contact CellSavers for help. CellSavers will dispatch a technician who will try to be on site within an hour to start mobile phone repairs. The service is available nationwide in major metropolitan areas including New York, Los Angeles, San Francisco, Houston and Chicago.
The company will use the funding expand expansion its service and build out the platform. The company says that all technicians are vetted and qualified to make smartphone repairs and repairs are guaranteed.
“Eyal Ronen and Itai Hirsch are impressive, disciplined, creative founders who have demonstrated that a strong company vision, coupled with strict operational discipline can yield tangible results. They’ve built a solid business based on a real-world need and created a strong foundation for a great national consumer brand,” said Carmel Ventures partner Daniel Cohen. Cohen will join CellSavers’ board of directors.
“It was incredibly important to us that we work with partners like Daniel Cohen who understand how to build and scale on-demand businesses. This investment is a big step towards a world where you can get any technical service for any smart device you own, right at your door and within 60 minutes, said Eyal Ronen, CEO & co-founder of CellSavers.
CellSavers is located in San Fransisco, California.

Arcadia Powers Up with $3.5 Million in Funding for Clean Energy Platform

BoxGroup and Wonder Ventures led the $3.5 million in funding to Arcadia.
The funding will go toward providing clean energy options and services directly to utility customers, this includes community solar and on-bill financing of energy efficient products like smart thermostats and LED lighting, which the company estimates can save customers 10 – 30% on their annual energy costs.
Arcadia operates an renewable utility software platform for customers  to more efficiently manage energy consumption. Customers at over 450 utilities in all 50 states can link their utility account to Arcadia. Arcadia tracks usage and automatically matches it with renewable energy certificates from wind farms, certifying a clean power footprint. The company launched a free 50% wind option for new customers, so utility customers across the country can reduce their carbon footprint. Customers can upgrade to 100% wind energy or participate in other programs such as Community Solar and LED financing.
“For nearly 100 years utilities have provided consumers with few choices or options,” said Kiran Bhatraju, co-founder and ceo of Arcadia Power. “We want to empower customers to take control of their home energy use.”
Arcadia is partnered with the Sierra Club, League of Conservation Voters (LCV), DailyKos and Demand Progress. “With Arcadia’s nationwide availability, our members are able to take direct action to help support a clean energy future, and we love that,” says Maggie Bruns, director of member programs at LCV.
“More than 140 million households in the US pay a power bill every month, and we want to enable anyone who believes in a clean energy future to act on it,” said Ryan Nesbitt, co-founder and president of Arcadia. “Customers can start using cleaner energy for free, so it’s really a no brainer.”
Arcadia was founded in 2014 and has over 10,000 customers in 50 states. To date the platform has helped customers use over 80,000,000 kilowatt-hours of clean power. The company is based in Washington, D.C.

ID Experts Raises $27.5 Million For Cyber Breach Protection

Healthcare private equity firm Peloton Equity and cybersecurity venture capital firm Trident Capital Cybersecurity led the $27.5 million round of equity funding to ID Experts. Existing investors BlueCross BlueShield Venture Partners and the Sandbox Advantage Fund contributed to the round.
ID Experts provides software and services for cyber breach and identity fraud protection. It is the largest provider of identity protection products to the federal government and also serves customers in healthcare, government, insurance, financial services and higher education.
The company will use the funding to repurchase shares from some existing shareholders and to continue to innovate its SaaS-based security technologies.
“This investment validates the demand for technology and services that mitigates the risk of cyber breaches and resulting identity fraud,” said Bob Gregg, CEO of ID Experts. “Our new group of investors is extremely well positioned to support ID Experts continued growth.”
ID Experts helps organizations defend against the recent spate of ransomware incidents. In a ransomware attack all network files are encryted by the attackers. Only after paying the ‘ransom’ do the attackers send the organization a digital key to decrypt all the compromised files. In particular hospitals and health systems across the U.S. are targets of these particular internet based attacks. “The healthcare industry is currently the most lucrative target for cyber attacks as evidenced by the recent proliferation of healthcare entity breaches and hospital focused ransomware attacks,” said Ted Lundberg, partner at Peloton Equity. “We are excited to partner with ID Experts to help such organizations lower their cyber risks, handle an incident if it occurs, and mitigate the damages.”
Peloton Equity’s Ted Lundberg, partner, and Justin Yang, principal; and Trident Capital Cybersecurity Sean Cunningham, managing director, will join ID Experts’ board of directors.
ID Experts are headquartered in Portland, Oregon.

Bloomlife Looks to Blossom with $4 Million Seed Funding for Pregnancy Wearable Tech

Marc Benioff and Efficient Capacity, LanzaTech Ventures, MeusInvest, Hanmi IT, The Chernin Group, Kapor Capital, and Act One Ventures led the $4 million seed funding round to Bloomlife. The company’s total funding to date stands at $6 million.
Bloomlife makes pregnancy wearable technology; the wearable’s sensor measures vital statistics of both mother and baby from the beginning of the pregnancy to delivery. The company can also crowdsource data for pregnancy research and to better understand pregnancy complications.
Bloomlife’s wearable technology won the Extreme Tech Challenge on Sir Richard Branson’s Necker Island.
“Our company’s mission resonated with the judges,” said Eric Dy, CEO and co-founder of Bloomlife. “They understood how our technology could help this under-served market.”
Bloomlife is in partnership with the University of California, San Francisco (UCSF) Preterm Birth Initiative; and research teams at Stanford.
Bloomlife will use the cash infusion to bring its first product to market. The product – a smart pregnancy wearable – detects and tracks contractions and displays the data on a smartphone. The funding will also go toward building out additional application features after the product’s initial launch.
“Every pregnancy is unique and expectant moms are looking for validation of what they are feeling. Bloomlife provides an objective second opinion,” continued Dy.
Bloomlife’s pregnancy wearable is available through an early access program on the website until launch.
The company is located in San Francisco, California.

FloSports Receives $21.2 Million in New Funding for Online Sports Network

DCM Ventures and Bertelsmann Digital Media Investments (BDMI) led $21.2 million funding round. World Wrestling Entertainment (WWE), Discovery Communications and existing investor Causeway Media Partners contributed to the funding. Today’s financing, brings FloSports total funding to $32.2 million, including an $8 million Series A round from Causeway Media Partners.
FloSports runs a live, subscription-based, online-sports network.  The company focuses on wrestling, track, grappling, MMA, elite fitness, boxing, fastpitch softball, gymnastics, basketball, tennis, volleyball, cheerleading and eSports events. FloSports operates sites, including FloVolleyball, FloCombat, FloTennis, and FloKO, which covers the Fighting Game Community (FGC), among others.
The company will use the new financing to build the online sports network’s reach into new sports and expand its position in the sports events it currently broadcasts.
“We want to partner with world-class investors who share our vision to transform sports media,” FloSports co-founder and CEO Martin Floreani said. “It’s exciting that visionaries in the media and OTT space have backed us to achieve this goal.
“We are the best direct-to-consumer solution for leagues, governing bodies and independent rights holders to monetize their events. In turn, this allows our company to serve millions of sports fans and supports our mission to grow the sports, the athletes, the events and the fans,” continued Floreani.
FloSports has live streamed events such as the PGF National Championships, the 2016 World Jiu-Jitsu IBJJF Championship , the 2016 Pan-American Championship and the 2016 Pan-American Olympic Games Qualifying Tournament, and The Cheerleading Worlds and The Dance Worlds competitions.
“As video consumption fragments and everyone from big media companies to individuals on YouTube pursue meaningful monetization on mobile and the web, FloSports has found a way to capture the passion of athletes and fans to build a thriving subscription business,” Keith Titan, partner at BDMI, said. “FloSports doesn’t merely stream live competitions, they partner with event organizers and governing bodies to provide top quality original content and in-depth coverage.
“What impresses us most is that the FloSports team is part of the community and they are as passionate about the sports they stream as their subscribers. They’ve created a successful model that is a unique and potentially huge global opportunity.”
FloSports is located in Austin, Texas.

Nymbus Banks $12 Million Financing Round for Core Banking Software

Major shareholders of Vensure Enterprises led the $12 million financing round to Nymbus. Nymbus provides core, cloud based, banking software to financial institutions that to date have used legacy systems. It refers to its core banking software as the central nervous system for banking institutions that facilitates daily operations, and serves as a platform for new banking applications.
The company will use the financing to further develop and support its core platform called SmartCore.
“Nymbus is here to help the 12,500 financial institutions encumbered by some of the oldest enterprise technology still in use, many developed as long as 30 to 40 years ago. These banks and credit unions have a strained business model, as they face increasing operational costs, severe regulatory pressures, while also being forced to utilize technology that is putting them at risk for survival. They desperately need an alternative to survive, grow and support their local communities. This additional funding will help us rapidly convert the already high demand for our SmartCore platform,” said Scott Killoh, Nymbus, executive chairman.
The company argues that financial institutions that continue to use legacy core banking software are at a competitive and regulatory disadvantage in today’s modern digital economy.
“Financial institutions still using these old, complex and expensive legacy core systems built for the last century do not have the ability to address the rise and evolution of digital delivery channels. So we are thrilled that the funding will allow us to quickly scale our user base, as well as our service and support teams to drive growth and innovation that this market so desperately needs,” said David Mitchell, Nymbus, president & chief revenue officer.
Nymbus is located in Miami, Florida.

Memebox Raises $65.95 Million in Series C for Beauty and Cosmetics Growth

New investor Formation Group along with previous investors Goodwater Capital and Pejman Mar Ventures led the $65.95 million in series C financing to Memebox. This funding round brings the company’s total financing to $100 million.
Memebox is already in Asia and North America and with the funding plans to expand into further markets. The funds will also go toward new product development. Memebox has a brick and mortar locations in South Korea and has plans to build more physical shops with this funding round.
“We approach our stores as an extension of our online environment, which is why we created spaces with makeup booths and unique seating areas where they can have conversations with our beauty experts. We’ve proven that we can generate even more sales on mobile or online when customers enjoy their experiences at our offline stores,” said Hinges Dino Ha, co-founder and CEO of Memebox.
Y Combinator graduate Memebox is an online beauty and cosmetics platform with a heavy emphasis on acquiring mobile users with 83% of online sales coming from mobile. The company’s app as 4 million downloads to date, with a core customer demographic of 18 – 24 year olds.
In addition to promoting outside cosmetics brands, Memebox has 540 beauty products under its own portfolio. Memebox has developed one beauty line named Pony Effect with Korean YouTube personality, Pony. The company plans to launch two more new brands under its umbrella by year’s end.
“Memebox has redefined how beauty companies operate in order to respond to the needs of today’s mobile and product-conscious consumers,” said Brian Koo, founder and CEO of Formation Group. “It represents the future of the digitally powered consumer brand revolution. Businesses like Dollar Shave Club, Warby Parker, and Memebox all benefit from the ability to use data and technology that offline incumbents cannot. The result is that women all over the world have fallen for and continue to fall in love with products from Memebox.”
Memebox has offices in San Francisco, Shanghai, Seoul, Taipei, Hong Kong and Singapore.

Interactions Calls on $56 Million in Funding for AI Customer Care

Revolution Growth, NewSpring Capital and Comcast Ventures led the $56 million funding round to Interactions. Existing investors provided additional funding.
Interactions’ intelligent virtual assistant solutions and Curo speech and language platform allow customers to communicate with business call centers without the need of a live agent and therefore saving money for companies that use its platform. Interactions previously acquired AT&T Watson speech and language technology and integrated it with its technology.
Main verticals for Interactions customer care solutions are travel, finance, healthcare, utilities, retail and technology, industries with large call center volume. Interactions handles approximately 1 billion customer transactions a year. Hyatt, Humana, TXU Energy, JustFab, LifeLock, Asurion and EyeMed all use the Interactions’ platform.
“We are extremely pleased to have the backing and influence of Revolution Growth, NewSpring Capital and Comcast Ventures to continue to propel us forward,” said Mike Iacobucci, CEO of Interactions. “Interactions is experiencing widespread, growing demand for its speech and natural language offerings. In order to meet this demand, we’re making strategic investments to advance our core artificial intelligence technology, further global expansion efforts and strengthen the company’s marketing and sales efforts.”
The company will use the additional funds to accelerate development in artificial intelligence (AI) technology – an increasingly important technology in the customer care industry without live agents.
“Interactions is leveraging and developing artificial intelligence technology that disrupts the existing multi-billion-dollar customer care industry,” said Ted Leonsis, Revolution Growth co-founder and partner. “They are transforming the way businesses interact with their customers by providing a seamless experience that eliminates inefficiencies to better service the needs of customers.”
Interactions was founded in 2004 and is headquartered in Franklin, Massachusetts. The company also recently opened a data center in Germany to expand into the local customer care market.

NextVR Adds 80 Million in Series B Funding for Virtual Reality Event Streaming

A variety of Asian and U.S. investors within entertainment, content and technology industries led the 80 million series B funding round to NextVR. U.S. investors from the series A round also contributed to the B round.
Investors include CITIC Guoan Information Industry of China, Softbank of Japan, Time Warner Investments and Dick Clark Productions
among others.
The financing is earmarked for international growth and partnerships.
Started in 2009, NextVR is in the business of broadcasting live entertainment over the internet or mobile in virtual reality. Its platform allows users to experience sports, music or movies in immersive VR. The company’s patented technology can capture, compress, stream, and display virtual reality content.
“With this new funding, we will continue to build NextVR’s virtual reality platform to meet the needs of the world’s largest fan bases around live sports and music content,” said Brad Allen, NextVR Executive Chairman. “Having the support of Asia’s biggest players provides us with significant resources for creating and distributing both local and international content in China, Korea, and Japan.”
The U.S. Open and the Masters Tournament, the Kentucky Derby, the DAYTONA 500, the International Champions Cup (ICC) are some of the events that NextVR has streamed in virtual reality. The company also recently signed up Live Nation to queue up additional sources of live concerts and festivals for VR enthusiasts.
“NextVR continues to revolutionize how live virtual reality content will be created and delivered,” said Scott Levine, Managing Director of Time Warner Investments and a NextVR board observer. “Consumers are excited about the technology and NextVR’s platform is clearly the leader in this emerging space.”
NextVR is located in Laguna Beach, California.

Finexio Raises $1 Million Seed Capital for B2B Payment Network

James R. Heistand led the $1 Million seed financing to Finexio with participation from
Finexio allows customers to save money by moving B2B payments from paper checks to its network to avoid higher paper check processing fees. The company argues that current ACH and credit card B2B solutions have high fees and the payment process is time consuming and confusing for small businesses and accounting departments.
In the U.S. approximately $12 trillion USD – representing 50% of B2B commercial spend – are made on paper checks. Finexio looks to bring these paper payments to its private “closed loop” payment processing networks. Finexio integrates into large payment aggregators, accounts payable automation systems, and procurement software platforms.
“Having spent years as financial processes consultants and working at large “Fintech” and payments companies, we experienced first-hand the paper based, slow manual delivery of “virtual credit cards”. These cards are currently mindlessly printed on tens of thousands of pieces of paper monthly, then mailed or faxed to suppliers. Not only are these suppliers forced to undergo a costly manual effort to receive their money, but they also are forced to pay a 3.5-5% fee for processing costs. We knew there was a better way to both pay and get paid as tens of thousands of suppliers, many of them small businesses, deserved better,” said Ernest Rolfson, CEO and Founder.
Finexio will use the funds to expand its payment platform and develop further integrations into payment and procurement systems.
“I was impressed with the team and vision behind Finexio, the large market they were going after, and the traction developed in such a short time to tackle a clearly addressable problem,” remarked James R. Heistand, CEO Parkway Properties. “Our finance team had previously tried to implement a standard credit card payables program for our company that failed to gain any traction due to the high fees it forced upon our suppliers. Today we are still printing and mailing thousands and thousands of checks annually, but look forward to applying this truly unique solution to eliminate unnecessary process and cost for both us and our suppliers.”
Finexio is located in San Mateo, CA.