Norwest Venture Partners has closed its 12th fund at $1.2 billion, which is the same size as its last fund that was raised in late 2009. The new fund is called Norwest Venture Partners XII LP.
Norwest Venture Partners Posts
Act-On is a Beaverton, Oregon based marketing automation company that has raised $42 million led by Technology Crossover Ventures with participation from Norwest Venture Partners, Trinity Ventures, US Venture Partners, and Voyager Capital. Act-On has raised a total of $74 million thus far. Act-On was founded in 2008 and has 270 employees today.
Apprity is an online security company founded by two former Oracle employees that has raised $8 million in funding. The funding will be used for product development and expanding industry partnerships. The principal investors in this round were Norwest Venture Partners and Wing Ventures. Promod Haque of Norwest and Gaurav Garg of Wing are joining Apprity’s board of directors as part of this round.
RiseSmart is a next-generation outplacement solutions service that has raised $11 million in growth equity financing. Accel-KKR led the round of funding with participation from previous investor Norwest Venture Partners. The funding will be used for sales and marketing. Greg Williams, managing director of Accel-KKR, will join RiseSmart’s board of directors.
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Health Catalyst has raised $41 million in funding from Sequoia Capital, Norwest Venture Partners, Kaiser Permanente Ventures, Sorenson Capital, CHV Capital and Partners Healthcare. Health Catalyst plans to use the funding for product development over the next 2 years, including clinical applications. Based in Salt Lake City, Health Catalyst said that their bookings increased fivefold year-over-year. The company is expecting to be positive cash flow during the calendar year.
Turn is an advertising technology company that has raised $80 million in funding. This will help the company delay their IPO for now. Turn plans to use the funding to invest in their data platform, which provides real-time information about over a million ads per second. Turn works with brands, agencies, and digital trading desks.
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Misfit Wearables is a hardware company that is known for creating an activity tracker called Shine. Misfit has raised $15.2 million in funding from Horizons Ventures in a new round of funding. Jason Wong of Horizons will be joining the board of directors at the company. Existing investors that participated in this round include Founders Fund, Khosla Ventures, Norwest Venture Partners, O’Reilly AlphaTech Ventures, Max Levchin, and incTANK. Misfit was founded by former Apple CEO John Sculley, Sonny Vu, and Sridhar Iyengar. The Shine is used for awarding points to users for walking, running, and swimming.