Tag Archives: TriplePoint Capital
Empire Avenue Raises $1.2 Million In Series A
Empire Avenue is a stock market website for social influence. The company has raised $1.2 million in Series A funding. This round of funding was led by Crosslink Capital. iNovia Capital, TriplePoint Capital, and BioWare co-founders Drs. Ray Muzyka and Greg Zeschuk also participated in this round.
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Gilt Groupe Raises $138 Million From Several Investors and Is Valued At $1 Billion
New York based discount flash sales website Gilt Groupe has raised $138 million in venture capital funding. Investors in this fifth round of funding include Softbank Group, General Atlantic, Matrix Partners, Goldman Sachs, NEA, DFJ Growth, Pinnacle Ventures, TriplePoint Capital, and Eastward Capital.
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One Kings Lane Raises $23 Million
One Kings Lane is a website that was co-founded by Alison Pincus, the wife of Zynga CEO Mark Pincus. One Kings Lane raised a $23 million second round of funding led by Greylock Partners with participation from Kleiner Perkins Caufield & Byers. Kleiner Perkins is a previous investors and so is Greylock partner Reid Hoffman. Reid Hoffman, TriplePoint Capital, and Marissa Mayer also participated in this round of funding. One Kings Lane sales were up 500% over 2009 and over 75% came from repeat customers. One Kings Lane is very similar to Groupon as it is a daily deals website. [TechCrunch]
Chegg Raises $112 Million In Funding, Debt Facility, and Credit Facility
Chegg is the biggest online textbook rental company and they are aggressively funding themselves in order to expand their business. The company raised $57 million in Series D equity funding led by Insight Venture Partners. Insight Venture Partners also provided Chegg with $25 million in credit facility. Before that Pinnacle Ventures and TriplePoint Capital provided Chegg with $30 million in debt facility. This gives Chegg a total of $112 million to work with.
Insight Venture Partners Managing Director Deven Parekh will be joining the Chegg Board of Directors as part of the funding round. By providing textbook rentals, Chegg has helped students across 6,400 colleges save about $65 million.
“We are thrilled with the continued excitement from leading investors who understand the tremendous value we provide to students around the country,” stated Chegg.com CEO and Co-Founder Osma in a press release. “This new funding is a significant step up from Series C and a testament to the growing market opportunity for Chegg.com’s textbook rental offering. With college tuitions continuing to climb and higher unemployment rates, parents and students are looking for any and all ways to cut costs.”