Posts By Dan Anderson

InDinero raises $7 million in funding

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InDinero has announced that it has raised $7 million in a new round of funding. The investors in this round include Coyote Ridge Ventures, SaaS Capital, and Streamlined Ventures. InDinero has announced a relaunch of its all-in-one accounting and tax service for small business. InDineo is a leading financial software with services (SwS) solution for small businesses to automate accounting, tax, and payroll activities.

PRESS RELEASE

SAN FRANCISCO, Feb. 18, 2015 /PRNewswire-iReach/ — inDinero today announces its re-launch as the premiere all-in-one accounting and tax service for small business. Backed by $7M in new capital and $10M overall from 50+ different angel investors and small funds, inDinero can now replace all three back office disciplines (accounting, tax and payroll) for one flat fee. Co-founders Jessica Mah and Andy Su remain the only official board members as no board seats or observer rights were given out. Notable investors in this round include Kevin Hartz, Bobby Yazdani, Hank Vigil, Fritz Lanman, Coyote Ridge Ventures, SaaS Capital, Streamlined Ventures, among many others.

inDinero’s re-launch just says “No” to the old SaaS scalability model by providing customers with the brightest minds in accounting to walk them through all of their financial needs. Running at near break-even, inDinero is padding their bank account with the new funds as they plan to double headcount and office locations over the next 18 months. Focusing primarily on customers with 2-100 employees, inDinero is making it easier for small business to grow faster.

“Now we’re a pain killer for any small business that wants to focus on themselves instead of having to build out their own accounting staff,” said Jessica Mah, CEO at inDinero. “The Mint.com for businesses idea was horrible, and now we are doing so much more by actually doing the accounting and taxes. A business no longer needs to hire a bookkeeper and tax person anymore; inDinero just takes care of it all.”

Unconventional and Innovative

With $10M now in total funding, inDinero has been gathering and managing various waves of cash since 2010 and last year even turned away many larger offers from VCs. inDinero’s pioneering concept of “pseudo bootstrapping” allows it to remain independent while prioritizing revenue and profits and to only accept appropriate levels of funding. “We are a 30 year old company in the making,” said Mah.

“There’s no reason for us to take on more capital than necessary and at what cost?” In addition to its funding methodology, inDinero’s innovative SwS approach is making a huge impact on the startup world. Now a growing business can hold off on hiring an in-house controller well into the 100th employee mark. inDinero also makes sure its developers work right along side of its own tax, accounting and payroll experts so that real time best practices reach customers seamlessly.

“As a rapidly growing business, we face a lot of challenges and having inDinero’s support and good humor has been indispensable,” stated Kate Bertash, operations services manager at Move Loot. “Now we enter a new phase of our company after raising our Series A and we are definitely more prepared going into it with inDinero’s help.”

Covet Thy Customer

Back in 2010 it was hot and seemingly lucrative to be every businesses’ sexy little financial dashboard. But at $20 per month, it became clear that doing so little for so many was not going to be a sustainable and growing business model. inDinero customers were even begging for more services stating that if you are already keeping track of my money, you might as well file my taxes and do my payroll while you are at it; oh, and charge me more for it all. However, inDinero could not just become a more user-friendly version of Intuit. Instead, inDinero began hiring the best and brightest minds in the accounting world to help customers in need and take great care of them as if they were their own dedicated accountants. Now inDinero charges customers between a few hundred to several thousands of dollars per month and customers are glad to make the change. Finally, inDinero realized they are the ideal solution for the growing startup company. By clearly identifying their target customer, inDinero is helping growing startups to grow even faster.

“inDinero solved a huge problem for us and saved me hundreds of hours of work and worry,” stated Brian Bosche’, CEO and co-founder at TernPro. “I don’t know what I would have done without inDinero, and I hope more businesses like theirs can make it easier for startups to focus on building products and customers versus worrying about accounting, payroll and taxes.”

About inDinero

inDinero is the leading financial software with services (SwS) solution for small businesses to automate accounting, tax and payroll activities for a flat fee. inDinero has over 80 employees with offices in San Francisco, Portland, and Manila. For more information go to www.inDinero.com or call 855-463-4637.

Patient safety solutions company TraceLink raises $20 million

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TraceLink is a Wakefield, Masschusetts based patient safety solutions company that has raised $20 million in funding. Volition Capital led this round of funding with participation from Fidelity Biosciences and FirstMark Capital. More details below:

PRESS RELEASE

February 18, 2015

TraceLink Inc., the leader in protecting patient safety and enabling health for global Life Sciences, today announced that it has raised $20 million in new venture funding led by Volition Capital, including participation from Fidelity Biosciences and existing TraceLink investor, FirstMark Capital. With more than 120 countries currently reporting counterfeit drugs in the pharmaceutical supply chain, the Life Sciences industry is facing a global transition, where a wide range of new and emerging regulatory laws will protect more than 75% of global medicines by 2018. As Life Sciences companies work to transform their supply chains, the TraceLink Life Sciences Cloud has quickly become the industry-leading platform that drug manufacturers, distributors, repackagers and dispensers rely on to exchange required compliance information and deliver safe medicines to patients everywhere.

“TraceLink is the clear category leader of track and trace software for the Life Sciences industry, and in just a short time, the company’s Life Sciences Cloud platform has become the trusted solution for more than 100 pharma companies, ranging from the world’s largest pharmaceutical manufacturers to small, independent pharmacies,” said Sean Cantwell, partner at Volition Capital. “What sets TraceLink apart is the unique approach it has taken to efficiently build a network infrastructure on which the entire pharmaceutical supply chain can connect, collaborate and exchange information in the face of new and complex laws. This differentiated approach positions TraceLink to win global market share faster than anyone else in this sector, and we’re excited to help the company drive its plans for future growth and expansion.”

Jon Lim, partner at Fidelity Biosciences, stated, “We are excited about TraceLink and the opportunity to partner with Shabbir and his team, Volition, and FirstMark. With investments in a broad portfolio of Life Sciences companies, we understand the intricate complexities of the pharmaceutical market and global supply and demand. TraceLink’s platform for networking the entire industry supports key solutions that are essential to the success of the pharmaceutical value chain.”

“Our recent success has been driven largely by the US Drug Supply Chain Security Act (DSCSA)—but the Life Sciences industry is facing a global transformation,” said Shabbir Dahod, president and CEO of TraceLink. “We will use this new funding to further invest in product development to support the growing volume of country-specific regulations on our Life Sciences Cloud platform—and to increase our sales, services and marketing presence across North America, Latin America, EMEA (Europe, Africa and Middle East), and Asia Pacific. Volition Capital and Fidelity Biosciences share our vision for capitalizing on this global market opportunity and accelerating TraceLink’s international growth strategy.”

Lawrence D. Lenihan, founder and managing director, FirstMark Capital, commented, “Since its founding in 2009, TraceLink has channeled its deep domain expertise in regulatory legislation, complex customer operational models, and disruptive cloud-based technology to develop the world’s only open network platform for the pharmaceutical supply chain. We’re pleased to support the company’s next phase of growth as Shabbir, and the entire TraceLink team, transform the Life Sciences industry and become a global track and trace brand giant.”

The $20 million in new financing follows a year of record-breaking accomplishments for TraceLink, including:

Exceeding 100 signed customers, which now include 15 of the top-20 global pharma companies;

Achieving year-over-year revenue growth of 137% for 2014, and a two-year revenue CAGR of 91%;

Establishing a supply chain network of more than 80,000 manufacturers, distributors, repackagers, pharmacies and medical practitioners;

Successful tracking of more than 100 million products moving through the US pharmaceutical supply chain; and,

Ensuring compliance for medicines that generate more than $155 billion in US annual revenue.

To learn more about meeting global pharmaceutical compliance deadlines designed to combat drug counterfeiting, and how to build a flexible global serialization, track and trace, and reporting platform for Brazil, China and other countries, visit www.tracelink.com.

Sindeo raises $5 million in Series A funding

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Sindeo is a San Francisco, California based mortgage marketplace company that has raised $5 million in Series A funding. The lead investor in this round is Renren. More details below:

PRESS RELEASE

SAN FRANCISCO–(BUSINESS WIRE)–Sindeo, a modern mortgage marketplace, today announced it has raised $6.5 million in funding through a $5 million Series A round, which follows an earlier $1.5 million Seed round. Sindeo will use the funds to provide consumers with the proper guidance, information and tools to find the right mortgage and lender through its mortgage marketplace and fuel its expansion to major markets in the United States.

The company’s funding is led by Renren, the largest real name social networking site in China, with James Liu, Co-Founder and COO of Renren, joining the Sindeo Board of Directors. Liu is a pioneer of the Chinese Internet industry, including being Co-Founder and CEO of UUMe.com, one of the earliest social networking service websites in China, which Renren acquired in 2005.

Renren is also an investor in SoFi, a lending marketplace and the largest provider of student loan refinancing. Renren’s investment in Sindeo, like SoFi, is due to its interest in FinTech marketplaces that leverage technology to scale. Due to such significant funding and support, Sindeo is advancing its suite of social mortgage tools and technology in the second half of 2015.

“Sindeo is one of the most promising players in the financial technology space because it has amassed a highly talented team to propel the growth and innovation of its cutting-edge mortgage marketplace,” said Liu. “We have seen firsthand the power of leveraging technology to transform financial services and are looking forward to working with the Sindeo team to redefine the mortgage industry.”

Arkadi Kuhlmann, an entrepreneur and a category disruptor by nature, joins Renren as an investor in Sindeo. Before his current role as Founder and CEO of ZenBanx, Kuhlmann was Founder and CEO of ING Direct, the largest direct bank in the United States. Kuhlmann has built a career on transforming financial services through new business models, and Sindeo is no exception.

“I am pleased to support Nick and his team’s mission to empower consumers with the right information and technology to make financing a home as transparent and easy as possible,” said Kuhlmann. “Sindeo is raising the bar for mortgage lending, giving consumers a new level of choice and service, and this funding will speed up the expansion of its mortgage model to markets outside of California.”

Liu joins Kuhlmann on Sindeo’s Board of Directors and both work in conjunction with the executive team to expand Sindeo’s imprint on the mortgage industry.

“As the investors leading our Series A, Kuhlmann and Renren represent an important endorsement of our business model and our mission to provide consumers with a new and simple way to get a mortgage,” said Sindeo’s Founder and CEO, Nick Stamos. “We’re dedicated to maintaining our growth and transforming the mortgage industry by harnessing impressive technology and providing consumers peace of mind when financing their home.”

Since the company’s founding in 2013, Sindeo has grown its San Francisco operations to more than 40 employees. Stamos, along with Co-Founder Ori Zohar, started the company to revolutionize the way people plan, shop and secure a mortgage. The company can close loans in as few as 15 days with consumers able to save more than $20,000 over the life of their loan.

About Sindeo

Sindeo’s modern mortgage marketplace provides borrowers with expert, unbiased advice and helps them find the Right Loan at the Right Time. Charting a new path for the mortgage industry, Sindeo uses technology to streamline the mortgage process, connect people with the right lenders and provide unparalleled guidance from its full-service, local mortgage advisors. Sindeo is headquartered in San Francisco and privately held. For more information, visit sindeo.com.

Glint raises $15.5 million

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Glint is a real-time employee engagement platform that has raised $15.5 million in funding. Glint will soon publicly release a new product, which is a real-time cloud solution to measure and improve employee engagement. Norwest Venture Partners and Shasta Ventures led this round of funding. More details below:

PRESS RELEASE

Redwood City, Calif. — February 18, 2015 — Glint, the real-time employee engagement platform, today announced it has raised $15.5 million in venture capital funding ahead of the public release of its new product, the first real-time cloud solution to measure and improve employee engagement. Norwest Venture Partners and Shasta Ventures led the investment funding along with angel investors including Ev Williams, the co-founder and CEO of Medium and former chairman and CEO of Twitter.

Glint’s rich analytical capabilities help companies like FICO, Marketo and many others identify and measure their key drivers of engagement and take directed action. Glint will devote the funds to continue aggressive product development and scale up its marketing, sales and customer success teams.

Both Norwest Venture Partners and Shasta Ventures have previously worked with Glint CEO and Co-Founder Jim Barnett. They were early investors in the data-driven advertising pioneer Turn, which Barnett co-founded and where he still serves as chairman. Jeff Crowe, a managing partner at Norwest Venture Partners, and Jason Pressman, a managing director at Shasta Ventures now serve on Glint’s board of directors. This week Glint also announced the public launch of the industry’s first real-time employee engagement platform.

“Glint has created an exceptional platform, bringing elegant design and real-time analytic insights to employee engagement,” Crowe said. “We’ve been very impressed with Glint’s early progress in attracting major new customers even before its public launch. Employee engagement applications are the next wave of innovation in human capital management, and Norwest is excited to help make Glint the clear leader in this new world.”

Norwest Venture Partners and Shasta Ventures have a proven history of successfully developing enterprise cloud companies and deep experience with the software-as-a-service business model. Norwest’s portfolio includes Adaptive Insights, MobileIron (MOBL) and BlueJeans, while Shasta’s portfolio includes Anaplan, Lithium and Zuora.

“Especially with the current war for talent, Glint’s solution addresses a pressing need in the market. Using people data to empower leaders and managers to drive employee engagement is a strategic weapon,” Pressman said. “Shasta Ventures is excited for the opportunity to help make Glint a household name for managers and human resources professionals.”

“We’re thrilled to build on our successful relationship with Shasta and Norwest, and we’re glad to have them on board with our most exciting product yet,” Barnett said. “Both firms have an excellent understanding of the software-as-a-service business, and we will certainly leverage their insight and experience to guide Glint.”

Glint plans to use the investment funds to extend its technology lead with a heavy focus on continued product development to add additional features and capabilities that meet the latest HR demands. The money will also enable Glint to rapidly grow its marketing, sales and customer success departments to create and support a larger client base that in turn increases the value of being part of the Glint community for each company.

Glint is now fully available through an annual software-as-a-service subscription model. For more information or to register for our upcoming introductory webinar on Feb. 26, visit www.glintinc.com.

About Glint

Glint helps you see into your organization in revolutionary ways, giving you the power to create real impact on employee engagement, retention and performance. Glint leverages real-time people data to give you and your managers a holistic view of your organization’s health, the insight to predict problems, and direction to take action. Based in Redwood City, California, Glint is backed by Norwest Venture Partners and Shasta Ventures. For more information, please visit www.glintinc.com.

Firefly Games raises $8 million in Series A

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Firefly Games has announced that they have raised $8 million in Series A funding led by Skyocean International Holdings, Ceyuan Ventures and GuangZhou WinHi. Firefly Games is currently building a game called Rising Heroes, which is a tactical strategy game where you raise your heroes and lay siege upon your enemies and other players in real-time. More details below:

LOS ANGELES, Feb. 17, 2015 /PRNewswire/ — In a landmark deal, Los Angeles based Firefly Games Inc., founded in January 2015 by Michael Zhang and KJ Lin has raised $8 million in Series A financing round led by Skyocean International Holdings, Ceyuan Ventures and GuangZhou WinHi. The company will release four titles this year and has partnered up with leading mobile game developers to distribute top grossing Asian titles to the Western markets.

Firefly Games will be coupling innovative gameplay design with proven western event systems to create AAA titles for mobile devices. “We plan to bring a revolutionary approach to the way games are released that goes far beyond the standard localization currently seen in the App Stores.” said Michael Zhang, Co-founder and CEO of Firefly Games. “Furthermore, we will also develop a business intelligence vertical within our company to evaluate highly granular data points and continually improve our live operations.”

The company will use the funding to acquire new titles, finance internal game development and make strategic investments worldwide. Johnson Zhen, Chief Investment Officer of Skyocean International Holdings said, “The mobile space is still in its infancy and Firefly Games is working to become one of the leading North American publishing companies for worldwide games.”

Firefly Games plans to move swiftly in the fast growing mobile space. “We expect there will be several billion dollar mobile game publishing companies and Firefly is definitely one with great potential!” said Guojun Chen, Partner of Ceyuan Ventures.

With over 30 employees and a newly opened Shanghai office, Firefly Games is expanding rapidly. The team members come from a history of shaping highly influential mobile, PC, and browser games and communities such as Funzio, GREE, Zynga, Nexon, Riot Games, ZQGame, FunPlus, Gamevil, Ubisoft and more.

About Skyocean International Holdings: Skyocean International Holdings is an investment firm with a $1.7B market cap focused on becoming a leading global entertainment group linking Greater China with the worldwide market. Skyocean International finances city value enhancement and helps drive sustainable and ecological urban development.

About Ceyuan Ventures: Ceyuan is a Beijing-based early stage venture capital firm focused on IT and emerging growth companies. Ceyuan emphasizes backing great teams, technology and business innovation. Their mission is to assist entrepreneurs in building world-class businesses. Ceyuan’s network of relationships and culture gives them the opportunity to discover promising new investment opportunites.

SIGFOX raises $115 million

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SIGFOX has recently announced that they have raised $115 million in funding. SIGFOX is a provider of a cellular network that is dedicated to the Internet of Things (IoT). Investors in this round include Telefonica, SK Telecom, NTT DOCOMO Ventures, Elliott Management Corp. and GDF SUEZ, Air Liquide, Eutelsat. Labège, France-based Sigofx provides a cellular network dedicated to the Internet of Things. More details below:

PRESS RELEASE

LABEGE, France–(BUSINESS WIRE)–SIGFOX, the world’s premier provider of a cellular network dedicated to the Internet of Things, today announced it has secured a record $115 million round of financing from strategic and financial investors in Europe, the U.S. and Asia.

The SIGFOX network is the most cost-effective and energy-efficient way to provide two-way connectivity to billions of objects. Incorporated in 2009, SIGFOX has pioneered the Low-Power Wide-Area (LPWA) connectivity space and has become a reference player in IoT.

Following the deployment in France, Spain, the United Kingdom, the Netherlands and soon the United States, SIGFOX will use this new equity round to accelerate its worldwide network roll-out in Europe, Asia and the Americas with the support of international telecom operators (Telefonica, SK Telecom and NTT DOCOMO Ventures), a leading financial sponsor (Elliott Management Corporation) and industrial partners (GDF SUEZ, Air Liquide and Eutelsat). These new partners join the existing financial investors that have been SIGFOX’s shareholders since 2011.

“This record $115 million round is a significant step in the development of our network’s coverage all around the world. The trust of our investors and the dynamism of SIGFOX’s team allow us to strengthen our position as the world leader in IoT communications,” said Anne Lauvergeon, SIGFOX’s chairman.

This strategic investment, which includes leading mobile network operators, clearly demonstrates how SIGFOX’s two-way low-throughput network complements existing high-bandwidth networks. The company sees a clear path towards unifying them in a single network, allowing always-efficient connectivity from both energy and throughput standpoints.

The participation of Elliott Management Corporation bears testimony to the huge value-creation potential in the IoT sector, especially for leading players in the field like SIGFOX. “Elliott is very pleased to be part of this equity round in the leading IoT dedicated-network company,” the firm said in a statement. “We look forward to contributing actively to SIGFOX’s deployment in the U.S. and worldwide.”

Besides the value and the operational know-how brought by its new telecom partners, SIGFOX will also benefit from the help and experience of leading global industrial players to enable large-scale deployments of connected devices and sensors. The presence of these leading players, alongside its telecom partners, will be SIGFOX’s most valuable asset to sell innovative IoT offers.

For GDF SUEZ, the SIGFOX offer will enable new developments in the fields of energy management, energy efficiency and sustainable cities: three priority areas in the Group’s innovation strategy.

ALIAD, the corporate venture capital arm of Air Liquide Group, said in a statement that “SIGFOX’s technology and network, thanks to its significant deployment, perfectly suits our needs for a part of our ‘smart’ devices, especially in terms of energy efficiency for long-distance communication.”

“Eutelsat’s investment in SIGFOX signals our conviction that satellites can accelerate the development of the IoT market, both in terms of reach and reliability,” said Jean-Hubert Lenotte, director of strategy at Eutelsat. “Eutelsat is constantly looking at innovative developments that push back the boundaries of our markets, add value for our customers and anchor satellites in an increasingly connected economy. SIGFOX has assembled a unique and compelling solution for the IoT market. We look forward to contributing to their growth and participating in their experience and entrepreneurial development.”

Existing financial investors, Elaia Partners, iXO PE, Partech Ventures and Idinvest, confirmed their support for the company and its management by reinvesting significantly in the current round. Bpifrance also strengthened its holding in SIGFOX and confirmed its commitment to the company through its Ambition Numérique (Digital Ambition) and Large Venture funds. “We strongly believe SIGFOX can be a future global player in the Internet of Things, and we are delighted to accompany its growth and increase our investment,” said Paul-François Fournier, director of innovation at Bpifrance.

“Since creating the LPWA space three years ago, SIGFOX has become the leading global solution for IoT connectivity,” said Ludovic Le Moan, CEO of SIGFOX. “This investment round recognizes those achievements and highlights the company’s potential to become the worldwide standard for small-message-based connectivity.”

The round comprises a first close of $93 million and a “greenshoe” of $22 million that will allow new strategic partners to join the share capital of SIGFOX in the next few months. Lazard acted as financial advisor to SIGFOX, with Granrut Avocats acting as legal advisor.

About SIGFOX

SIGFOX is the premier provider of dedicated cellular connectivity for Internet of Things and Machine-to-Machine communications. The company’s network complements existing high-bandwidth systems by providing economical, energy-efficient two-way transmission of small quantities of data, thus lowering barriers to wide implementation of IoT and M2M solutions, and greatly extending the battery and service life of connected devices. SIGFOX’s global network is deployed through the SIGFOX Network Operator™ partnership program, with more than 2 million square kilometers already covered. The company is headquartered in Labège, France, and has offices in Mountain View, Calif., and Madrid, Spain.

For more information, see www.SIGFOX.com and follow us on Twitter @SIGFOX.

About ALIAD

Created in 2012, Air Liquide Venture Capital (ALIAD) is the Air Liquide Group’s venture capital investor. ALIAD’s minority stakes support the growth of innovative start-ups and encourages the establishment of R&D and/or business agreements between these young start-ups and other entities of the Group.

About Bpifrance

Bpifrance, a subsidiary of Caisse des Dépôts and French State, trusted partner of entrepreneurs, supports companies, from seed capital to the stock exchange, in credit, guarantees and equity. Bpifrance provides further services and support for innovation, acquisitions and export, in partnership with UBIFRANCE and Coface. Bpifrance offers companies a continuum of financing for each key stage of their development and specific support in regards to regional specificities. With 42 regional offices (90% of decisions taken in region), Bpifrance is a tool for economic competitiveness for entrepreneurs. Bpifrance acts in support of public policies pursued by the State and by the Regions to meet three objectives:

• support the growth of SMEs

• prepare future competitiveness

• contribute to the development of a favorable ecosystem for entrepreneurship.

With Bpifrance, companies benefit from a powerful contact point, close and efficient to meet all of their financial needs, innovation and investment.

For more information, see www.bpifrance.fr and follow us on Twitter @bpifrance.

About Elaia Partners

Elaia Partners was founded in 2002 as an independent private equity boutique focused on Digital Economy. Elaia Partners currently manages more than $145 million mainly through Elaia Ventures, a French FCPR fund backed by a diverse range of LPs – financial institutions, industrials and family offices – and through funds delegated by Omnes Capital, 123Venture and Neotec as well as through a seed investment fund, Elaia Alpha, raised in 2012 and dedicated to the investment in early stage companies in the digital economy. Elaia Partners was the lead investor of the first round raised by SIGFOX in 2011.For more information, see www.elaia.com and follow us on Twitter: @elaia_partners.

About Elliott Management Corporation

Elliott Management Corporation manages two multi-strategy hedge funds which combined have more than $25 billion of assets under management. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest hedge funds under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm.

For more information, see www.elliottmgmt.com.

About Eutelsat Communications

Established in 1977, Eutelsat Communications (Euronext Paris: ETL, ISIN code: FR0010221234) is one of the world’s leading and most experienced operators of communications satellites. The company provides capacity on 35 satellites to clients that include broadcasters and broadcasting associations, pay-TV operators, video, data and Internet service providers, enterprises and government agencies. Eutelsat’s satellites provide ubiquitous coverage of Europe, the Middle East, Africa, Asia-Pacific and the Americas, enabling video, data, broadband and government communications to be established irrespective of a user’s location. Headquartered in Paris, with offices and teleports around the globe, Eutelsat represents a workforce of 1,000 men and women from 32 countries who are experts in their fields and work with clients to deliver the highest quality of service

For more information, see www.eutelsat.com.

About GDF SUEZ

GDF SUEZ develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: independent power production, liquefied natural gas, renewable energy and energy efficiency services. GDF SUEZ employs 147,200 people worldwide and achieved revenues of $81.3 billion in 2013. The Group is listed on the Paris and Brussels stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).

In 2014, the Group launched GDF SUEZ New Ventures, a €100million investment fund dedicated to provide financing to innovative companies that share its strategic business orientation and have reached the pre-production development stage.

For more information, see www.gdfsuez.com

About Idinvest

With $6 billion under management and 50 staff, Idinvest Partners is a leading pan-European manager focused on the middle market segment. Idinvest Partners has developed several complementary areas of expertise including investments in innovative European start-ups, primary, secondary and mezzanine investments in European non-listed companies, and private equity consulting. Founded under the name AGF Private Equity in 1997, Idinvest Partners was formerly part of the Allianz Group until 2010 when it joined forces with IDI Group to become independent.

For more information, see www.idinvest.com.

About Intel Capital

Intel Capital, Intel’s global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than $11 billion in over 1,400 companies in 57 countries. In that timeframe, 210 portfolio companies have gone public on various exchanges around the world, and 366 were acquired or participated in a merger. In 2014, Intel Capital invested $359 million in 125 deals, including 59 new investments.

For more information, see www.intelcapital.com and follow us on Twitter @Intelcapital.

About Ixo Private Equity

IXO Private Equity is an independent company 100 % held by its management team. It manages an asset portfolio in capital-investment of $570m. Funds made out from type FIP/FCPI’s public offer represent $220m. FPCI’s funds (ex FCPR) mainly signed by institutional investors represent, as for them, $350m. Located in Toulouse and Marseille, IXO Private Equity invests equity amounts between $1m and $15m per project in PME located in the South of France (South-East – South-West).

For more information, see www.ixope.fr.

About NTT DOCOMO Ventures

NTT DOCOMO Ventures, a Corporate Venture Capital Unit for both NTT DOCOMO and NTT Holdings group, is operating DOCOMO Innovation Fund and NTT Investment Partners Fund, one is $100M size, the other is $150M size. We proactively enhance cooperation with exceptional entrepreneurs on a worldwide scale by providing hands-on incubation program, capital from our corporate venture funds and vast business development opportunities with the NTT Group companies.

NTT is a Japanese telecommunications company and one of the largest telecommunications groups in the world, owning more than 946 companies as subsidiaries worldwide. NTT DOCOMO is Japan’s largest mobile service provider, serving more than 63 million customers with high-quality and ultra-high-speed nationwide LTE network.

For more information, see www.nttdocomo-v.com/en.

About Partech Ventures

Partech Ventures is an investment company that specialises in fast-growing companies in the digital and information technology sectors with three different funds (Growth, Venture and Seed). The team, which has offices in Silicon Valley, Paris, and Berlin, has extensive experience in international corporate development. Over the course of its history, Partech Ventures has completed 21 initial public offerings, and more than 50 industrial disposals amounting to over $100 million for large international companies. The « Les Echos » daily business newspaper has awarded the company its prize for the best venture capital team, while Preqin, the independent research organisation, has just recognized Partech Ventures as one of the top ten global venture-capital funds on a world-wide scale, and the only European fund among the top 30 based on its performance.

For more information, see www.partechventures.com.

About SK Telecom

SK Telecom (NYSE: SKM, KSE: 017670), established in 1984, is Korea’s largest telecommunications company with more than 28 million mobile subscribers, accounting for over 50% of the market. The company reached KRW 17.164 trillion in revenue in 2014. As the world’s first company to commercialize CDMA, CDMA 2000 1x, CDMA EV-DO and HSDPA networks, SK Telecom launched the nation’s first LTE service in July 2011. SK Telecom also became the world’s first mobile carrier to commercialize 150Mbps LTE-Advanced in June 2013 and 225Mbps LTE-Advanced in June 2014 through Carrier Aggregation (CA). In line with its efforts to swiftly move towards the next-generation mobile network system, or 5G, it successfully commercialized 300Mbps tri-band LTE-A CA on December 2014. As of December 2014, the company has over 16.7 million LTE and LTE-Advanced subscribers. Based on its strength in network operations business, SK Telecom is seeking new growth engines in areas of platform, Big Data and convergence business.

For more information, see www.sktelecom.com.

About Telefónica

Telefónica is one of the largest telecommunications companies in the world in terms of market capitalisation and number of customers. With its best in class mobile, fixed and broadband networks, and innovative portfolio of digital solutions, Telefónica is transforming itself into a ‘Digital Telco’, a company that will be even better placed to meet the needs of its customers and capture new revenue growth.

The company has a significant presence in 21 countries and a customer base of more than 316 million accesses around the world. Telefónica has a strong presence in Spain, Europe and Latin America, where the company focuses an important part of its growth strategy.

Telefónica is a 100% listed company, with more than 1.5 million direct shareholders. Its share capital currently comprises 4.551.024.586 ordinary shares traded on the Spanish Stock Market and on those in London, New York, Lima, and Buenos Aires.

Bill.com raises $50 million in funding

Bill.com Logo
Bill.com is a company that offers digital payment solutions. They make bill payment and invoicing much easier. Bill.com has raised $50 million in funding. This round of funding was provided by Silicon Valley Bank, DCM Ventures, Scale Venture Partners, August Capital, Napier Park Global Capital, American Express Ventures and Commerce Ventures. More details below:

PRESS RELEASE

February 12, 2015 10:00 AM Eastern Standard Time

PALO ALTO, Calif.–(BUSINESS WIRE)–Bill.com, the leading company creating magically simple business payments, today announced it has closed a $50 million financing round. Silicon Valley Bank joined existing investors DCM Ventures, Scale Venture Partners, August Capital, Napier Park Global Capital, American Express Ventures and Commerce Ventures, bringing the total amount raised by the company to date to over $100 million. The new funds will enable Bill.com to continue scaling the company to support millions of members in the network and will also fuel ongoing plans to provide businesses nationwide with premier digital payments solutions that make paying and getting paid fast, easy and secure.

Bill.com is at the intersection of banks, accounting software solutions and the Internet. Bill.com provides a suite of digital payments solutions that make bill payment and invoicing processes painless. Each application within the Bill.com business payments network is built in recognition that today’s SMBs lack the proper tools to pay bills and get paid in a fast, easy and secure way. As a leader in the digital payments space, three of the top ten national banks leverage Bill.com to deliver the industry’s most comprehensive A/P and A/R management solutions to their customers. Additionally, 35 of the top 100 accounting firms in the country use Bill.com to maintain financial control of their clients’ payments and receivables.

“Businesses today demand digital payments solutions that can make their lives easier and eliminate the headaches associated with having to process payments, checks and invoices manually,” said René Lacerte, founder and CEO of Bill.com. “With a majority of businesses still using manual processes to manage their A/P and A/R, there is a significant market opportunity for us and our esteemed bank partners to better serve our customers. With this new capital, we will continue to expand our core technology and fulfill our promise to deliver digital payments solutions to businesses nationwide.”

This announcement comes on the heels of significant company growth. In the past 12 months, Bill.com has grown its network over 100 percent to over 600,000 members. Currently, the firm moves over $19 billion annually. Bill.com has recently introduced a number of innovative product offerings including Bill.com Fast Pay, Bill.com Payments for NetSuite, and Intacct Sync 2.0, among others.

“Bill.com tackles a problem that plagues small businesses and distills it down to a simple solution for paying bills and getting paid,” said Jacob Moseley, senior market manager, Silicon Valley Bank. “The company has demonstrated tremendous growth and established itself at the center of the digital payments space. We are pleased to be a financial partner for Bill.com and look forward to helping the team increase its probability of future success.”

About Bill.com

Bill.com (www.bill.com) is the leading digital business payments company creating magically simple A/P and A/R solutions. We are at the center of business payments, uniting banks and businesses on the fastest growing payments network. Bill.com helps over 600,000 network members process over $19 billion in payments per year and saves companies up to 50 percent of the time typically spent on financial back-office operations by securely automating their end-to-end processes. Three of the top ten U.S. banks and 35 percent of the top 100 accounting firms rely on Bill.com as their primary payments solution. The recipient of more than 40 awards, Bill.com was recently recognized as one of the San Francisco Business Time’s Most Innovative Companies and proudly received a PC Magazine’s Editor’s Choice Award. For more information, please visit www.bill.com.

Infosys acquires Panaya for $200 million

Panaya Logo

Panaya Logo

Infosys is acquiring Panaya for $200 million to help customers automate their business processes. Infosys CEO Vishal Sikka has a goal of pushing the company into artificial intelligence technologies and retraining their 170,000 employees to help automate tasks. The deal is expected to close by the end of March.