Tag Archives: Canaan Partners
SOASTA Raises $12 Million In Funding
Social Gaming Company Kabam Raises $30 Million In Series C
Kabam is a massively multiplayer social gaming company based in California. Kabam used to be named Watercooler and they have raised $30 million in Series C funding. The Series C was led by Redpoint Ventures and Intel Capital with participation from Canaan Partners. Kabam launched in 2006 and they plan to use the funding to expand their gaming studio. Below is the full press release:
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PrimeSense Raises Undisclosed Amount Of Funding From Silver Lake
Private equity firm Silver Lake is known for their investments in Skype and other technology companies. Now Silver Lake has invested an undisclosed amount in PrimeSense Inc. PrimeSense is the company responsible for designing some of the components that went into the Microsoft Kinect. Microsoft has shipped about 8 million Kinects thus far.
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Daily Deals On Virtual Goods Company Inhale Digital Raises $1.1 Million
Inhale Digital is a company that offers daily deals on online games and virtual goods. Inhale Digital is based in New York and they have raised $1.1 million from several investors, including Canaan Partners. Inhale Digital is integrating their offers into Facebook, which allows people on the social network to sign up for deals and discover new games.
Categories Canaan Partners, Inhale Digital
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Wireless Live Video Streaming Company LiveU Raises $11 Million
LiveU has raised an $11 million Series C round of funding. LiveU is known for streaming wireless live video from a backpack device. LiveU has a low cost option for HD video streaming that broadcasts directly from a website, TV, or a device. Pitango Venture Capital, Carmel Ventures, and Canaan Partners are the three investors in this round of funding.
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Web Video Company Blip.tv Raises $10.1 Million
Blip.tv has closed on a $10.1 million third round in funding led by Canaan Partners. Bain Capital also participated in this round of funding. Blip.tv started in 2005 and plans to use the new round of funding to accelerate growth and expand content services. Blip.tv has about 44,000 indie video producers that use the service and distributes about 50,000 original web shows. Blip.tv receives about 90 million video views per month. [MediaPost]
Categories Bain Capital Ventures, Blip Networks, Blip.TV, Canaan Partners
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LendingClub Raises $24.5M In Series C
Lending Club has raised $24.5 million in Series C funding from Foundation Capital, Morgenthaler Ventures, Norwest Venture Partners, and Canaan Partners. The company now has a total of $52.7 million in funding. The additional funding will be used to advance their existing platform which allows lenders and borrowers to avoid the middleman (banks) for investing among peers. This round of funding will also be used for launching new products, marketing, and improving customer service. [PRNewsWire]
TweetPhoto Raises $2.6 Million In Series A
TweetPhoto, a competitor of TwitPic and a company that encourages you to share pictures over Twitter has raised $2.6 million in Series A. The lead investor was Canaan Partners. Additional investment was provided by Anthem Venture Partners, Qualcomm, Tim Kelly, Frank Asaro, Shane Brisbane, and Jack Corrao.
Zoosk Raises $30 Million In Series D Funding
Zoosk is a dating social network that has been growing at a rapid pace. The social network has about 40 million users across 40 countries. This attracted investors to plug in $30 million as part of their Series D round of funding. Investors include Bessemer Venture Partners, Canaan Partners, and ATA Ventures. David Cowan of Bessemer Venture Partners is joining the Zoosk board of directors as a result. The funding will be used for marketing, expansion, and other new features.
“Zoosk has been redefining the online dating experience since we launched nearly two years ago, and singles around the world have embraced our fun, safe, and social network-driven approach,” stated Zoosk co-founder and CEO Shayan Zadeh in a press release. “We are thrilled to begin our partnership with David Cowan and Bessemer Venture Partners as we work with our investors and Board to take advantage of the incredible opportunities for growth in the online dating space.
The company has about a $30 million run rate based on revenue from Premium Memberships. Zoosk also earns revenue from virtual goods and advertising. Zoosk is based in San Francisco and started in January 2007 by Zadeh and Alex Mehr.
Dating Application Zoosk Raises $4.1 Million Second Round
“We have quickly become the dominant player in the social dating space and we plan to continue to rapidly expand our user base across even more social networks,” stated Shayan Zadeh, a co-CEO at Zoosk and former program manager at Microsoft. “We allow people to seamlessly connect across multiple social networks, for example a Facebook user can interact with a MySpace user, and this ability has given us unprecedented access to today’s young, single professionals. Our new funds will allow us to expand our network of subscribers and add even more new features that will make the social dating experience even more fun and less painful.”
Zoosk, a dating social network based in San Francisco, Calif. has raised $4.1 million in it’s second round of funding recently. The $4.1 round of funding was led by Canaan Partners. ATA Ventures also participated in this round. Zoosk is built around application widgets that help users connect based on interests and preferences.
The company was started in 2007 and receives roughly 400,000 daily uniques, 1 million messages sent per day, and 3 million dating profiles on Zoosk network.
Zoosk has plenty of competition. The funding new comes shortly after WooMe, a video dating social network raised $12.5 million. Match.com has also created an application of their own called Little Black Blackbook: Are You Interested? On Facebook alone, there are over 1,745 Dating Applications. So clearly a dating application is not unique. Fortunately for Zoosk, they have the user numbers to back up the quality of their app.
Information Source:
[1] Zoosk Press Release via PR Web
Categories ATA Ventures, Canaan Partners, Zoosk
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