Tag Archives: Commonwealth Capital Ventures
Verizon Acquires Cloud Computing Company CloudSwitch
Verizon Wireless has acquired cloud computing company CloudSwitch. CloudSwitch acquired $15.4 million in venture capital funding before the acquisition from Atlas Venture, Commonwealth Capital Ventures, and Matrix Partners.
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RIM Acquires Scheduling Application Company Tungle
Research In Motion Limited (NASDAQ:RIMM) has acquired the scheduling application company Tungle. The entire team will be joining Tungle after the acquisition. Tungle has a team of 23 people based in Montreal, Quebec with an R&D office in Waterloo, Ontario. They were provided venture capital funding from Commonwealth Capital Ventures, JLA Ventures, and Desjardins Venture Capital. About 40% of the Fortune 1000 companies use Tungle. [Tungle Blog]
Commonwealth and Ascent Venture Partners Invest $13 Million In Artfact
Live auction website Artfact.com has raised $13 million in funding from Commonwealth Capital Ventures and Ascent Venture Partners. Artfact has also recently merged with Auctionzip.com. Artfact will use the funding to expand product development and enhance marketing/sales.
“The investment by Commonwealth and Ascent marks an important milestone for Artfact, and punctuates an exciting first year of growth in Arfact Live and Invaluable Live, our live auctions marketplaces for estate auctioneers. We are eager to have the support of two distinguished partners as we look forward to the launch of Auctionzip Live, and the SaaS version of our RFC auction management software in 2010,” stated Artfact CEO and Chairman Adam Kirsch in a press release.
Cloud Computing Company CloudSwitch Raises $8 Million and Hires John McEleney As CEO
CloudSwitch is a cloud computing company based in Burlington, MA. CloudSwitch recently announced that they have raised $8 million in their second round of funding and have hired John McEleney as President and CEO.
The $8 million in funding was led by Commonwealth Capital Ventures and includes Matrix Partners and Atlas Ventures. Thus far, CloudSwitch has raised $15 million in funding. Before joining CloudSwitch, McEleney was the chief executive at SolidWorks Corporation.
[via Boston.com]
Me.dium Raises $15 Million Series B Investment Led by Commonwealth
Me.dium[1], a Boulder, Colorado based company announced today that they have raised $15 million in funding. Me.dium utilizes chatting functionality with visualization effects combined with location tracking.
An example that the company gives for use their service is that Me.dium “lets you see where your friends are online right now. Like when you get together with your friends at the mall to do some shopping, now you can do that online. Only, for the first time, you don’t even have to be in the same store to do it[2] .”
The $15 million in Series B was led by several investors. Waltham, Massachusetts based firm, Commonwealth Capital Ventures[3] lead the investment. Spark Capital[4], Appian Ventures[5], and Brad Feld, a managing director at Foundry Group and Mobius Venture Capital, also participated in the $15 million investment. Elon Musk, a founder of Paypal was a previous investor of Me.dium’s $5 million Series A funding.
Me.dium was founded in June 2006. “We believe Me.dium is pioneering the next phase of social interaction on the Web,” stated Elliott Katzman,a general partner at Commonwealth. “With a proven technology and a world-class management team, Me.dium is well-positioned to lead this exciting new category.” Katzman will join the Me.dium Board of Directors.
Every Me.dium user has the power to turn on and off the service for privacy. This way users can decide whether they want their information shared.
“Commonwealth Capital Ventures clearly shared our vision on the evolution of how people will interact online,” stated Kimbal Musk, the CEO of Me.dium. “We are excited to have them lead this round and join our existing investor team. Their proven understanding of the consumer was critical in our financing decision and was a clear value Commonwealth brought to the table.”
[1] me.dium.com
[2] me.dium.com/company
[3] ccvlp.com
[4] sparkcapital.com
[5] appianvc.com
Categories Commonwealth Capital Ventures, Me.dium, Spark Capital
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