Kai-Fu Lee is the former head of Google China. Lee has raised $180 million for his startup incubator company founded two years ago known as Innovation Works. Innovation Works is an early-stage accelerator company.

Read It Later is a popular bookmarking service that allows you to read content from any smartphone, tablet, or computer. Read It Later has raised $2.5 million in funding. The investors in this round include Foundation Capital, Baseline Ventures, Google Ventures, Founder Collective, and several angel investors.

Chegg is a very popular online textbook rental service. Chegg has recently raised $75 million from Ace Limited, an Asian-based investment firm. Chegg had $144 million of funding before this. Other venture firms that put money into Chegg include Kleiner Perkins, Foundation Capital, and Insight Venture Partners.

FreeWheel is a video advertising company that has raised $16.8 million in funding from Steamboat Ventures, Turner Broadcasting Systems (TBS), Battery Ventures, and Foundation Capital. The company has raised a total of $30 million. FreeWheel was founded by former employees at DoubleClick in 2007. The company works with marketers and publishers to manage video ad campaigns. FreeWheel’s platform can produce inventory forecast for live and on-demand content. Some of their clients include TBS, VEVO, MLB.com, and CBS. Two new agreements FreeWheel has made includes partnerships between Discovery Communications and ESPN Internet Ventures. [TechCrunch]

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]

SimplyHired is a job search engine that aggregates listings from various websites.  SimplyHired is based in Mountain View, California and has raised an additional round of funding at $4.6 million, led by IDG Ventures and Foundation Capital.  This brings SimplyHired to a total funding amount of $22.3 million.

Previous investors include Gautam Godhwani, Peter Weck, Anil Godhwani, Jerry Crowley, the late Rajeev Motwani, Kanwal Rekhi, Ron Conway, Dave McClure, James Hong, Guy Kawasaki, Garage Technology Ventures, Foundation Capital, Fox Interactive Media, IDG Ventures, and Foundation Capital.

Fox Interactive Media launched a classifieds website through MySpace since they made their investment in SimplyHired.  SimplyHired stated that they have had positive operating cash flow over the past four quarters.  The company had revenue growth for 16 consecutive quarters.

The additional funding will be used to hire additional employees and for international expansion.  SimplyHired syndicates their technology to LinkedIn, The Washington Post, BusinessWeek, Plaxo, and CNNMoney.

[via paidContent]