Zoom raises $30 million in Series C

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Zoom is a cloud video conferencing company that has raised $30 million in Series C funding. Emergence Capital led this round of funding. Horizons Ventures, Jerry Yang and Qualcomm Ventures also participated in this round. More details below:


(Santa Clara, CA) February 4, 2015: Zoom, the cloud video conferencing company, today announces that it has raised $30M in Series C funding, led by Emergence Capital, with participation from Zoom’s existing investors Li Ka-shing’s Horizons Ventures, former Yahoo! CEO and co-founder Jerry Yang, Qualcomm Ventures, and medical entrepreneur Dr. Patrick Soon-Shiong. The investment more than doubles the funding Zoom had received in prior rounds and represents confidence from investors that Zoom can continue its impressive triple digit growth and pioneer the future of business-grade cloud video collaboration. Zoom will use the funding to scale its sales and marketing teams and expand its business worldwide.

Market Research firms are predicting that the global cloud collaboration market will reach $21.3 billion by 2019. That growth, coupled with increased demand for easier-to-use SaaS-based solutions, creates a ripe opportunity for Zoom.

“Zoom is a perfect fit with Emergence Capital’s mission of investing in the cloud visionaries who are building the most important business applications. The company’s explosive growth over the past year shows that they are primed to emerge as the industry’s market leader, and Eric’s key role at WebEx makes him the ideal entrepreneur for this opportunity. Zoom truly is one of the most capital efficient and fastest growing SaaS companies,” said Santi Subotovsky, Partner, Emergence Capital.

“Businesses aren’t fully satisfied with the status quo in video conferencing,” said Eric Yuan, Zoom’s CEO and Founder. “Zoom’s cloud-based video conferencing has a richer feature set and better user experience at a much more affordable cost. With this funding, we can reach a broader global audience through new sales and marketing initiatives.”

Zoom has made incredible strides since its 2013 Series B funding, including:

· Increased business customer base from 4,500 to 65,000 companies

· Grew meeting participants from 3 million to 40 million individuals

· Surpassed 1 billion meeting minutes

· Gained 2,500 educational institution customers

· Introduced the industry’s first iPhone/iPad screen sharing and co-annotation

· Created the Cloud Room Connector, a platform for connecting H.323/SIP video endpoints to the cloud

· Developed ZoomPresence, the world’s first software-based conference room system built on Mac and iPad

· Launched Zoom Video Webinars, which can feature 25 video panelists and 3,000 viewers

“With Zoom we have seen a huge increase in video calling at a dramatically lower cost. Zoom’s easy-to-use platform has enabled fast adoption and it even decreased our IT support calls. If we ever have the slightest issue or question, Zoom’s support team is always just an instant meeting away. I recommend Zoom to any company that wants a true business-grade collaboration platform,” said Leo Gomez, AV Systems Engineer at SolarCity Corporation.

About Emergence Capital

Emergence Capital (@emergencecap), based in San Mateo, Calif., is the leading venture capital firm focused on early and growth-stage enterprise cloud companies. Its mission is to invest in the cloud visionaries who are building the most important business applications. The firm’s investments include companies such as Salesforce.com (CRM), SuccessFactors (SFSF, acquired by Oracle), Veeva Systems (VEEV), Yammer (acquired by Microsoft), and Box (BOX). More information on Emergence Capital can be found at http://www.emcap.com.

Skimlinks raises $16 million in Series C funding

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Content monetization company Skimlinks has announced that it has raised $16 million in Series C funding. Frog Capital led this round of funding. Bertelsmann Digital Media Investments, Greycroft, Sussex Place Ventures and Silicon Valley Bank also participated in this round. More details below:


SAN FRANCISCO and LONDON – February 4, 2015 – Skimlinks, the leading content monetization platform for digital publishers, announced today that the company has raised $16 million in Series C financing. The round was led by Frog Capital, with participation from existing investors Bertelsmann Digital Media Investments (BDMI), Greycroft, Sussex Place Ventures and Silicon Valley Bank (SVB). To date, Skimlinks has raised a total of $24 million in equity.

Skimlinks’ network of premium digital publishers includes 1.5 million websites and apps focused on commerce-related content. Skimlinks enables these publishers to automatically earn revenues by rewarding them for any e-commerce activity driven by their content. In 2014, Skimlinks’ publishers monetized their content by generating over $625 million in sales for over 20,000 retailers on the Skimlinks platform.

Skimlinks’ 60 percent revenue growth last year among editorial sites demonstrates the power of content and native advertising. In the year, Skimlinks brought on more top publishers, including Vox Media, Time Inc and Cafemom to add to existing clients such as Gawker Media, Hearst and Condé Nast. To support this growth, Skimlinks expanded its team by 40 percent and opened a second office in the US, located in New York.

With their core technology and network solidly in place, Skimlinks will use the growth capital to extend its market-leading platform to help publishers earn substantially more from their commerce-related content. Skimlinks has dubbed this type of shopping-oriented editorial content “comtent”, which includes product galleries, reviews, features, gift guides, wish lists, and deal news. Skimlinks is focused on helping editorial publishers understand the value of comtent, not just for its revenue potential through affiliate linking, but also for its value in driving influence and insights.

This Series C round, which was led by Frog Partners Joe Krancki and Iyad Omari, marks Frog Capital’s first investment in Skimlinks.

“Publishers are increasingly turning to content-led monetization strategies for growth, as traditional digital display advertising rates continue to decline. With incredibly efficient technology and deep commerce insight, Skimlinks has become the go-to content monetization partner for the world’s most prestigious digital publishers,” says Iyad Omari, Partner, Frog Capital. “We are very impressed by what Alicia and her team have achieved and look forward to working with them to make this an even bigger success story.”

“We have always believed that a strong culture and collaborative values are critical to building a lasting, robust company,” said Alicia Navarro, co-founder and CEO of Skimlinks. “It made sense that we expand that belief not just to our teammates and clients, but also to our investors, who become an extension of our team. Frog’s similarity in values and culture, coupled with their breadth of vision, strategic experience and desire to contribute, made Frog an ideal investor and partner for Skimlinks.”

About Skimlinks

Founded in 2007, Skimlinks creates native monetization solutions for publishers, rewarding them for any e-commerce they drive by automatically turning product links and references into trackable affiliate links. Integrated with more than 20,000 merchants, Skimlinks processes 300 million clicks a month on over 1.5 million sites around the web.

Skimlinks technology helps publishers like Time Inc, Gawker Media, Condé Nast, Hearst Digital and The Huffington Post earn revenue and gain insights from their commerce-related content. Last year, the company drove $625M worth of e-commerce through its platform. Skimlinks is a team of more than 80 with offices in London, San Francisco and New York. Learn more at www.skimlinks.com.

About Frog Capital

Frog Capital is a leading growth capital investor focused on technology-led businesses in Europe. Frog’s experienced team has invested in over 100 companies, and in the last five years has exited companies with a total transaction value over 1 billion. Frog is a committed long-term partner, investing in ambitious companies with revenue up to 30m and requiring up to 20m of growth capital. By applying industry knowledge, a network of relationships and operating expertise, Frog actively supports exceptional company growth and builds significant shareholder value. For further information, please visit www.frogcapital.com.

Blackboard to buy Schoolwires

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Blackboard has announced a definitive agreement to buy Schoolwires. Schoolwires is an educational website that offers hosting and content to K-12 schools and districts. Blackboard is backed by Providence Equity Partners. More details below:


WASHINGTON, Feb. 4, 2015 /PRNewswire/ — Today Blackboard Inc. announced a definitive agreement to acquire Schoolwires, one of the leading educational website, hosting and content management providers to K-12 schools and districts. The acquisition of Schoolwires will better position Blackboard to improve the student experience through an unmatched combination of K-12 solutions and services focused on communication and engagement.

Following the acquisition of ParentLink last year, today’s announcement represents the next step in Blackboard’s plan to provide a comprehensive set of solutions that address the needs of all K-12 stakeholders including students, teachers, parents and administrators. It also will help Blackboard deliver on its strategy to offer technology innovations that help prepare students with the necessary experience and skills for higher education and job success.

Schoolwires provides a suite of technology products and related services to more than 11 million users and 1,700 districts and educational entities in the U.S. and China. Its solutions include an integrated website and content management system, a social learning and networking system, a family of mobile applications and an enterprise technology platform. Through this acquisition, Blackboard will further establish its position as a leading provider of school websites and parent notification solutions.

“Now, more than ever before, we are aggressively driving toward our mission of advancing students’ education journey and positioning them for success across their lifelong learning experience, which begins at the K-12 level,” said Jay Bhatt, CEO of Blackboard. “An informed and engaged K-12 community is the foundation for improved teaching and learning, and school websites and apps are the natural way that process begins each day. With Schoolwires, we will help schools meet the evolving needs of their community and improve outcomes for their students.”

“Today’s news marks a great milestone for Schoolwires and we couldn’t be more excited to join the Blackboard team,” said Christiane Crawford, president and CEO of Schoolwires. “We are eager to merge these two industry-leading teams and continue our pursuit of helping students be more successful, improving the educational experience in K-12, and investing in the future of this industry.”

Blackboard has provided website hosting and content management solutions for school and district websites since it merged with Edline in 2011. The addition of Schoolwires’ best-in-class solutions and apps will enhance Blackboard’s parent and community engagement solutions, advance the company’s overall strategy for K-12, and expand its partner ecosystem.

Subject to regulatory approval and other customary closing conditions, the transaction is expected to close later this year.

For more information about Blackboard, please visit www.blackboard.com or follow @Blackboard on Twitter.

About Blackboard Inc.

Blackboard is the world’s leading education technology company. We challenge conventional thinking and advance new models of learning in order to reimagine education and make it more accessible, engaging and relevant to the modern day learner and the institutions that serve them. In partnership with our customers and partners in higher education and K-12 as well as corporations and government agencies around the world, our mission is to help every learner achieve their full potential by inspiring a passion for lifelong learning. For more information about Blackboard, follow us on Twitter @Blackboard.

Tracx raises $18 million in funding

Tracx is a social enterprise platform company that has raised $18 million in funding led by Edison Partners. Flybridge Capital, Mousse Partners, Klingenstein, and Fields & Co. also participated in this round of funding. Tracx’s SaaS platform provides companies big data architecture, advanced intelligence, and management tools. More details below:


NEW YORK, Feb. 2, 2015 /PRNewswire/ — Tracx, the global leader in social enterprise platforms for Fortune 1000 companies, today announced a $18 million growth-financing round led by Edison Partners. The funding round brings the company’s total investment since founding to $28 million and includes follow-on investment from Flybridge Capital, Mousse Partners, Klingenstein, and Fields & Co. Tracx will use the capital to accelerate its product, sales, and support staff, as well as fund the expansion of additional global offices. Ryan Ziegler, General Partner of Edison Partners has joined the Tracx board of directors.

Tracx’s SaaS-based social enterprise technology provides companies with global scale, secured big data architecture, advanced intelligence, and management tools to connect with customers across social media venues. This new funding comes at a key moment in the company’s history, as Tracx has tripled the size of its staff while achieving consistent top-line growth year over year, since establishing a US presence in 2012. Fueled by strong tailwinds and cutting-edge technology, Tracx now maintains a blue-chip client base of more than 400 brands worldwide.

Tracx is at the center of one of the greatest challenges experienced by today’s enterprises — the need for a social technology that can be used by all departments, not only to monitor the ecosystem surrounding a brand, product, or service, but to directly influence it. “Tracx’s raison d’etre has always been to help companies manage the real-time nature of social media by creating innovative solutions to the most complex problems companies face on a daily basis,” said Eran Gilad, Chief Executive Officer of Tracx. “Our significant growth over the course of 2014, both from a product and an organizational perspective, speaks to how well positioned we are for another groundbreaking year.”

As companies continue to integrate social strategy into core initiatives, the market for social intelligence and engagement tools has matured to a point where the enterprise is no longer satisfied with feature-specific point solutions that deliver limited value on a department-by-department basis. Similar to the evolution of CRM platforms, companies require holistic technologies that scale across all departments and roles, deliver sophisticated intelligence, contain robust data management workflows, provide governance, and integrate into legacy infrastructure. Tracx is the only end-to-end big social platform, delivering enterprise-grade intelligence, engagement, and monetization in one unified solution. This approach best equips leading brands to handle the diversity and complexity of their social media challenges.

“Edison Partners is a big believer in digital innovation and disruptions that address the inherent communication issues and CRM shortfalls in the modern enterprise,” states Ryan Ziegler, General Partner at Edison Partners. “Tracx is rapidly capturing market share because today’s brands understand the value of real-time actionable data for revenue, service and product initiatives. We’re pleased to be partnering with the company for this exciting next stage in their journey.”

About Tracx

Tracx is the next generation social enterprise platform that empowers brands to manage, monetize, and optimize their business. The technology refines and analyzes masses of data across all social channels, providing deep insights into customer, competitor, and influencer behaviors. It delivers the most relevant, high impact audiences and conversations by capturing a 360-degree view of activity around a brand, product, or ecosystem. With Tracx, companies obtain geographic, demographic, and psychographic insights to identify and target influencers, improve planning, enhance monitoring, and effectively focused engagement. Tracx is headquartered in New York City with offices in Tel Aviv and London. The world’s top brands rely on Tracx.

About Edison Partners

For 28 years, Edison Partners has been helping CEOs and their executive teams navigate the entrepreneurial journey to becoming successful companies. Through the unique combination of expansion capital and the Edison Edge platform, consisting of strategic advisory, the Edison Director Network, and executive education, Edison employs a holistic approach to nurturing invention and creating value for growth stage businesses ($5 to $20 million in revenue) in financial technology, healthcare IT, enterprise IT, and interactive marketing industries. Edison investment objectives also include: buyouts, recapitalizations, spinouts and secondary stock purchases.

The Edison portfolio has created aggregate market value exceeding $5 billion. Its long-tenured team, based in Lawrenceville, NJ, New York, NY, McLean, VA and Cleveland, OH, manages $928 million in assets throughout the eastern United States.

HourlyNerd raises $7.8 million in funding

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HourlyNerd is an online marketplace for freelancing business talent. Based in Boston, HourlyNerd has announced that they have raised $7.8 million in Series B funding from Highland Capital Partners, GE Ventures, Greylock Partners and Suffolk Equity Partners. More details below:


BOSTON, MA. February 4, 2015 – HourlyNerd, the leading online marketplace for elite freelance business talent, announced today that it has raised $7.8 million in Series B funding, led by Highland Capital Partners, with participation from GE Ventures, Greylock Partners, Intuit founder Scott Cook, the Kraft Group, angel investor Semil Shah, former Etsy CEO Maria Thomas, Rent the Runway Founder/CEO Jennifer Hyman and Boston VC Suffolk Equity Partners. This new round of funding comes just 11 months after HourlyNerd announced its Series A financing round, led by Highland Capital Partners and Greylock Partners, and just 15 months after announcing a seed funding round led by billionaire angel investor, Mark Cuban.

HourlyNerd will use the financing to continue expanding upon its market-leading technology platform.

“This financing serves as further proof that our disruptive model is working – delivering incredible freelance talent directly to businesses in a flexible, unbundled, technology-driven way. I’m particularly excited at the life we can provide for incredibly talented folks who for family or personal reasons prefer to work as independent freelancers,” says co-CEO and co-founder Rob Biederman. “We are increasingly seeing consulting firms both buying and selling projects on our site, as their demand and capacity fluctuate. HourlyNerd is becoming the global spot market for business talent,” he added.

“This signifies a material milestone for HourlyNerd. Serious investments into our product are now paying off as we have a leading marketplace with incredible automation that relies on data from thousands of projects. We’re thrilled to take this next step as we work to provide an experience for enterprises that is just as exceptional as what we’re now offering SMBs,” added co-CEO and co-founder Pat Petitti.

“Over the past year we’ve been overwhelmed by demand from enterprises under-served by existing options for flexible, elite business expertise. Gone are the days of having to choose between the excessively bundled incumbent players and nothing; chances are very good that HourlyNerd has just the right expert in our network of nearly 10,000. We’re thrilled to be partnering with world-class venture capitalists, entrepreneurs and one of the world’s most respected enterprises in our next phase of growth,” added co-founder and CFO Peter Maglathlin.

Founded two years ago in a Harvard Business School Field III Course classroom, the founders came up with “HourlyNerd”, the idea of linking small businesses, with MBA students and business school graduates. HourlyNerd placed 2nd of 150 companies in the HBS “IPO Day” competition in May 2013.

In just two short years, HourlyNerd has grown to accommodate more than 4,500 companies, using over 10,000 consultants from top consulting firms investment banks and business schools around the world, including Harvard, Wharton, Stanford, Columbia, Tuck and Kellogg. By pairing businesses with premier quality professionals, at reasonable rates, and on an “as needed” basis, HourlyNerd is able to serve the entire spectrum of American commerce. HourlyNerd’s clientele ranges from Main Street businesses to the strategy groups of Fortune 10 companies, including GE, Microsoft, American Apparel and Omaha Steaks.

Investor Commentary:

“In a very short period of time the team has made amazing progress on all fronts: customers, product, revenue and team,” said Dan Nova, General Partner with Highland Capital Partners. “These advances further validate our belief that the massive consulting industry is ripe for disruption, and we are incredibly excited to partner with the team making it happen.”

GE Ventures CEO, Sue Siegel added, “HourlyNerd provides on-demand access to top-quality talent. Having worked with the HourlyNerd community over the past year, GE is excited to invest and support the growth of the company.”

“I’ve used HourlyNerd myself and can attest to the exceptional quality and value on the platform. Small and medium businesses across America are now able to access top quality consultants that major enterprises rely on, and at incredibly fair prices,” said Scott Cook, founder of Intuit.

“Hourly Nerd is expanding the addressable market for consulting services in the US by creating new customers (startups and small businesses) that couldn’t afford the McKinsey’s of the world. At the same time, they’re redefining supply: a more flexible army of consultants who can work when they want on what they want. I wanted to invest as I see the model having many similarities to Rent the Runway: HourlyNerd is democratizing a critical industry with lots of unmet demand, leading to massive value creation for customers and suppliers,” added Jenn Hyman, co-founder of Rent the Runway.

“I used HourlyNerd a few years ago for a few projects and remember the initial feeling of realizing that research requests could be at my fingertips for a fair price. I kept in touch with the founders and they’ve quietly been growing. I’m excited by the opportunity to build a marketplace for knowledge work that higher quality, more cost efficient, and powerful to use. I expect many consulting firms, investment groups, and other similar companies to rethink in-house analyst programs in favor of a product like HourlyNerd,” added renowned angel investor Semil Shah.

“I am thrilled to invest in HourlyNerd because there is a large untapped opportunity to disrupt big, traditional consulting companies whose highly opaque businesses often rely on price as a proxy for quality. Just as Etsy helped democratize the buying and selling of handmade items, Hourly Nerd has an opportunity to help democratize consulting services, especially for small-and-medium sized enterprises,” added Maria Thomas, former CEO of Etsy.

About HourlyNerd:

HourlyNerd, a start-up with origins in a Harvard Business School (HBS) classroom, is an online talent marketplace that links elite independent freelance talent with businesses that lack the funds to hire a premier consulting firm but require freelance help or advice from top MBA students who’ve worked at the top consulting firms and investment banks. In just a few months (via referrals, social network mentions and word of mouth), there are already over 4,500 companies using over 10,000 HourlyNerd consultants from around the country and around the world. More information is at www.hourlynerd.com

HomeLight raises $3 million

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HomeLight is a service that matches homebuyers and sellers with real estate agents. The company has announced that they have raised $3 million in funding from Bullpen Capital, Montage Ventures, Crosslink Capital, Krillion Ventures, 500 Startups and Western Technology Investment. HomeLight identifies the best real estate agents by looking at home sales data, agent skills, and other strengths based on past performance. More details below:


San Francisco, CA (PRWEB) February 04, 2015

HomeLight (http://www.homelight.com), the leader in matching homebuyers and sellers with real estate agents, announced today the debut of its new website and the close of an additional $3 million in funding. The new capital injection comes from Bullpen Capital, Montage Ventures, Crosslink Capital, Krillion Ventures, 500 Startups, and Western Technology Investment. Proceeds of the round will be used to make key hires, expand marketing efforts, and drive additional adoption of its core agent-matching platform.

HomeLight’s matching service helps consumers identify the best real estate agents by analyzing home sales data and evaluating an agent’s skills and strengths based on their past performance. With the launch of its new site at http://www.homelight.com, consumers will now have an easier and faster way to find the right real estate agent for their needs. The new site includes enhancements to HomeLight’s matching algorithm, additional content, and a revamped look-and-feel.

“We’re constantly working to improve HomeLight for agents and consumers,” said Drew Uher, CEO and founder of HomeLight. “We believe that the new HomeLight.com is the best real estate agent search experience on the web today, and this new round of funding is a great vote of confidence in our ability to revolutionize the way people buy and sell homes.”

With this new round of funding, HomeLight has now raised a total of $4.85 million to date.

“When we look at real estate, we believe there will be a tidal wave of innovation in the next 5-10 years,” said Todd Kimmel, Managing Partner of Montage Ventures. “Zillow and Trulia have done a great job in home search, but there are still several ‘front and center’ problems yet to be solved. HomeLight is well positioned to improve the way people find and select agents and also the way the industry works more broadly.”

“The 2015 consumer demands more transparency with the products they buy and the service providers they hire,” said Richard Melmon of Bullpen Capital. “HomeLight is bringing this much needed transparency to a market where it has been noticeably absent. We’re impressed with what the HomeLight team has built to date, and with this additional capital, we believe the company can grow even faster.”

About HomeLight

Founded in 2012, HomeLight is the only company that expertly matches homebuyers and sellers with the real estate agents who are most qualified to meet their specific needs. Our proprietary algorithm creates unbiased, personalized agent recommendations by analyzing transactional data and licensing records of over two million agents. HomeLight identifies agents with local knowledge and negotiation expertise, helping homebuyers find the perfect home for the best price. Sellers can sell their home faster and for the highest price because we find agents who are better at pricing, prepping, and marketing. Based in San Francisco and currently operating in 38 major U.S. markets, HomeLight is a privately held company backed financially by Google Ventures, Crosslink Capital, Bullpen Capital, Montage Ventures, Krillion Ventures, 500 Startups, and Western Technology Investment. Follow us on Twitter, like us on Facebook, or learn more at http://www.homelight.com.

Velano Vascular raises $5 million in funding

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Medical technology Velano Vascular has announced that it has raised $5 million in Series A funding. Investors in this round include First Round Capital, White Owl Capital, Kapor Capital, and Safeguard Scientifics. Velano’s goal is to reduce needle sticks during the inpatient blood draw procedure. More details below:


February 05, 2015 07:30 AM Eastern Standard Time

PHILADELPHIA & SAN FRANCISCO–(BUSINESS WIRE)–Velano Vascular, a medical technology company with the goal of reducing needle sticks during the inpatient blood draw procedure, today announced that the company has closed a $5 million Series A financing. Investors include First Round Capital, White Owl Capital, Kapor Capital, and Safeguard Scientifics (NYSE: SFE), in addition to health-industry angels and two thought-leading hospitals. Velano Vascular plans to use proceeds from this financing to move into clinical evaluation and early commercialization with select hospital partners.

“Starting with the basic premise of replacing an antiquated technology – phlebotomy needles, which date back centuries – to dramatically improve patient care has led us to an incredible business opportunity that benefits patients, practitioners and hospitals alike. We are encouraged by the level of support from this notable group of investors,” said Eric M. Stone, Velano Vascular’s co-founder and chief executive officer. Stone founded the company in 2012 with Pitou Devgon, MD, Velano Vascular’s president and inventor of the company’s patented technology.

Initial funding for the company was provided by a series of angel investors in 2012, followed by an investment from Startup PHL, a program initiated by the City of Philadelphia and First Round Capital to facilitate public and private partnerships for Philadelphia’s startup community. First Round Capital led the company’s latest round of funding, with participation by Kapor Capital (CA), Safeguard Scientifics (PA), White Owl Capital (NY), Griffin Hospital (CT), and The Children’s Hospital of Philadelphia (PA).

“Velano Vascular’s proprietary technology has the potential to radically transform a very common and unpleasant medical procedure,” said Josh Kopelman, founder and partner, First Round Capital. “In addition, the company has the kind of impressive and experienced leadership that we look for when evaluating investments in game-changing technologies.”

Paul Molloy, MBA, CEO of ClearFlow and former president of Teleflex Vascular, and Jack Lord, MD, former COO, University of Miami Health System and former CIO of Humana, serve with Stone and Devgon on the Velano Vascular board of directors.

The company’s advisory board includes Karen A. Daley, PhD, RN, past president, American Nurses Association; Bridget Duffy, M.D., chief medical officer, Vocera; John Gormally, former vice president, Becton Dickinson; Jean Proehl, RN, CEN, former president, Emergency Nurses Association; and David J. Reibstein, The William S. Woodside Professor at The Wharton School, University of Pennsylvania.

“In their pursuit of excellence, hospitals aim to increase operating efficiency, improve clinical quality and enhance their patients’ experiences,” said Patrick Charmel, president and chief executive officer of Griffin Hospital, which participated in the Series A financing along with The Children’s Hospital of Philadelphia (CHOP). “It requires innovation and a sustained commitment to providing patient-centered care to ensure that these objectives do not become mutually exclusive. By providing a ‘needleless’ alternative to painful and anxiety-provoking venipuncture for routine blood drawing of hospitalized patients, the Velano Vascular team will help us achieve our triple aim and, in doing so, benefit our patients and caregivers.”

About Velano Vascular

Velano Vascular technologies transform patient care by enhancing the blood-draw experience during hospitalization. The company’s innovative medical technologies aim to reduce the pain and discomfort associated with these procedures for patients while improving safety and efficiency for providers. Founded by a patient advocate and a physician, Velano Vascular is backed by First Round Capital, Kapor Capital, Safeguard Scientifics, White Owl Capital, Griffin Hospital, The Children’s Hospital of Philadelphia, and several health-industry veterans. Velano Vascular’s clinical collaborators include several of the leading hospital systems in the United States. More information is available at www.velanovascular.com.

About First Round Capital

First Round is a seed-stage venture firm focused on building a vibrant community of technology entrepreneurs and companies, including Uber, Square and Warby Parker. Through custom-built software, incredible in-person experiences, and a host of other unique services, we help tiny companies get big while constantly reimagining the role of venture capital. For more information, visit www.firstround.com.

About Griffin Hospital

Griffin Hospital is a 160-bed acute care community hospital serving more than 130,000 residents of the Lower Naugatuck Valley Region. Griffin Hospital also serves as the flagship hospital for Planetree, an international leader in patient-centered care and has received national recognition for creating a facility and approach to patient care that is responsive to the needs of patients. Many healthcare facilities around the world send visitors to Griffin Hospital and incorporate its concepts into their healthcare models. Griffin Hospital is a not-for-profit, tax-exempt subsidiary of the Griffin Health Services Corporation. Griffin Hospital has more than 300 active and courtesy physicians who have admitting privileges. Griffin Hospital is affiliated with the Yale School of Medicine, The Frank H. Netter MD School of Medicine at Quinnipiac University, and accredited by The Joint Commission.

Griffin Hospital is recognized for having industry-leading patient satisfaction ratings and has received numerous quality and clinical excellence awards. It is the only hospital to be named to FORTUNE Magazine’s “100 Best Companies to Work For” list for 10 consecutive years, and was the only Connecticut hospital to be recognized three times by the Joint Commission as a “Top Quality Performer” on key quality measures. For more information please visit www.griffinhealth.org.

About Kapor Capital

Based in Oakland, California, Kapor Capital invests in seed stage tech startups that generate both economic returns and positive social impact. We believe diversity in tech is a strategic priority to the industry. For more information please visit www.kaporcapital.com.

About Safeguard Scientifics

Safeguard Scientifics, Inc. (NYSE:SFE) has a distinguished track record of fostering innovation and building market leaders. For six decades, Safeguard has been providing growth capital and operational support to entrepreneurs across an evolving spectrum of industries. Today, Safeguard is focused specifically on two sectors—healthcare and technology. Recent successful exits include Alverix (acquired by Becton Dickinson for $40 million); Crescendo Bioscience (acquired by Myriad Genetics for $270 million); NuPathe (acquired by Teva Pharmaceutical Industries for $144 million); and ThingWorx (acquired by PTC for initial proceeds of $112 million). For more information, please visit www.safeguard.com or Follow Us on Twitter @safeguard.

About The Children’s Hospital of Philadelphia

The Children’s Hospital of Philadelphia was founded in 1855 as the nation’s first pediatric hospital. Through its long-standing commitment to providing exceptional patient care, training new generations of pediatric healthcare professionals and pioneering major research initiatives, Children’s Hospital has fostered many discoveries that have benefited children worldwide. Its pediatric research program is among the largest in the country. In addition, its unique family-centered care and public service programs have brought the 535-bed hospital recognition as a leading advocate for children and adolescents. For more information, visit http://www.chop.edu.

About White Owl Capital

White Owl Capital Partners is a New York City-based private investment firm focused on finding exceptional entrepreneurs and providing the capital and advice to help them build great companies. White Owl’s investments span several industries (tech, healthcare, media, banking, logistics, and energy) and geographic regions (US, Canada, UK, Russia, China).

Insight Venture Partners to buy E2open for about $273 million

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Insight Venture Partners has announced that it will be acquiring Foster City, California based E2open for about $273 million. E2open offers cloud-based solutions for collaborative planning an execution purposes across global trading networks. More details below:


FOSTER CITY, Calif., Feb. 5, 2015 /PRNewswire/ — E2open, Inc. (NASDAQ: EOPN) (“E2open”), the leading provider of cloud-based solutions for collaborative planning and execution across global trading networks, today announced that it has entered into a definitive merger agreement whereby Insight Venture Partners (“Insight”), a leading global private equity and venture capital firm, will acquire E2open in a transaction valued at approximately $273 million.

Under the terms of the agreement, an affiliate of Insight will commence a tender offer for all the outstanding shares of E2open common stock for $8.60 per share in cash, representing a 41% premium over E2open’s closing stock price on February 4th, 2015. The Board of Directors of E2open has unanimously approved the merger agreement and recommends that E2open shareholders tender their shares in the tender offer. A minority portion of the equity will be provided by funds managed by Elliott Management.

Mark Woodward, President and Chief Executive Officer of E2open said, “After a comprehensive evaluation and review of strategic alternatives designed to enhance shareholder value, we are confident that this agreement represents a favorable outcome for our shareholders, providing them with immediate, substantial value. Furthermore, we are excited about the prospect of partnering with Insight Venture Partners, a firm with an established track record and deep domain expertise in software. With the benefit of Insight’s knowledge and domain expertise, combined with the added flexibility we will have as a private company, E2open will be able to focus on long-term investment and growth, which will benefit our employees, customers and partners.”

“We are excited to support the continued growth of E2open,” said Ryan Hinkle, Managing Director of Insight Venture Partners. “We look forward to contributing our software expertise to the talented team of professionals at E2open to expand their suite of solutions, grow their customer pipeline and further advance the Company’s strategic goals.”

“E2open’s unique business network and cloud-based software solutions provide real time visibility and critical insights into some of the largest supply chains in the world,” added Ross Devor, Principal at Insight. “We look forward to building upon E2open’s market leading position in a rapidly-changing environment.”

Upon closing, E2open will become a privately held company. Closing of the transaction is subject to customary closing conditions, including a majority of the outstanding shares having been tendered in the tender offer and clearance under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976. E2open expects the transaction to close before the end of their first quarter of fiscal year 2016.

BofA Merrill Lynch is serving as financial advisor to E2open, and Wilson Sonsini Goodrich & Rosati, P.C. is acting as the Company’s legal counsel.

Willkie Farr & Gallagher LLP is serving as legal counsel to Insight Venture Partners.

Additional details about the merger agreement will be contained in a Current Report on Form 8-K to be filed by E2open with the Securities and Exchange Commission.

About E2open

E2open (NASDAQ: EOPN) is the leading provider of cloud-based, on-demand software solutions enabling enterprises to procure, manufacture, sell, and distribute products more efficiently through collaborative planning and execution across global trading networks. Enterprises use E2open solutions to gain visibility into and control over their trading networks through the real-time information, integrated business processes, and advanced analytics that E2open provides. E2open customers include Avnet, Celestica, Cisco, HP, IBM, Lenovo, L’Oreal, Motorola Solutions, Seagate, and Vodafone. E2open is headquartered in Foster City, California with operations worldwide. For more information, visit www.e2open.com.

About Insight Venture Partners

Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $9 billion and invested in more than 200 companies worldwide. Our mission is to find, fund and work successfully with visionary executives providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit www.insightpartners.com or follow us on twitter: @insightpartners.com.