Tag Archives: U.S. Venture Partners
Box.net Raises $15 Million For Enterprise Cloud Documents
Cloud content management platform company Box.net has raised $15 million in Series C. The funding was led by Scale Venture Partners. Other investors included DFJ and U.S. Venture Partners. The company has raised a total of $29.5 million thus far.
Box.net has a free iPad app that helps promote the premium products. Box.net currently has 4 million customers including the Oprah Winfrey Network, Nokia, and Volvo. During the first quarter, revenue was up 300%. [GigaOM]
LivingSocial Raises $25 Million, Challenging Groupon
LivingSocial is a company known for making Facebook applications where users can rate and review their favorite books, movies, etc. Now LivingSocial is trying something new: group coupons.
LivingSocial raised $25 million in a round led by U.S. Venture Partners, Grotech Ventures, and Steve Case’s Revolution LLC. Local businesses offer deals to only a group of people. LivingSocial plans to take this concept and spread it on Facebook. If a local deal is made, LivingSocial gets a cut from the local businesses.
Currently LivingSocial is offering group coupon deals to residents in Chicago, Denver, Raleigh-Durham, and San Diego. LivingSocial’s biggest competitor for this new model is Groupon.com, another well-funded group coupon company. The advantage that LivingSocial has is that they already have a solid footprint in Facebook applications. [VentureBeat]