This week, the funding gods smiled on innovators who are reinventing the ways in which consumers borrow, merchants acquire customers, and issuers keep cardholder data safe. Find out who got what and how much.
Vaurum, May 7, $4M
The cryptocurrency company, Vaurum has raised $4M in seed funding.
"There's a great global demand by investors today to trade virtual currencies, mainly bitcoin, but in practice it's not very easy for people to do, whether they're sophisticated institutional investors or underserved populations in developing economies," said Avish Bhama, co-founder and CEO of Vaurum. "Most investors --even savvy institutions -- need an easy-to-use and compliant platform through which to buy and sell bitcoins, and we provide that solution."
Battery Ventures and angel investors participated in the round.
“Vaurum intends to use the funding to scale its engineering team and further build out its white-label platform for financial institutions.” Reports MarketWired.
Area 1 Security, May 5, $2.5M
The security startup company, Area 1 Security has raised $2.5M in seed funding.
“Our team has worked on the cutting edge of data analytics and cyber security, delivering threat intelligence on some of the most sophisticated, targeted and prolific actors,” said Area 1 Security founder and CEO Oren Falkowitz. “With this seed round, Area 1 Security will continue to develop and perfect our disruptive technology focused to eliminate targeted, socially engineered cyber attacks.”
The list of round participants included: Kleiner Perkins Caufield & Byers, Cowboy Ventures, Data Collective (DCVC), First Round Capital, Allegis Capital, RedSeal Networks CEO and others.
The funds will help develop the company's threat intelligence project.
Predictry, May 5, $230,000
Malaysia-based recommendation engine startup, Predictry has raised $230,000 in seed funding.
“To provide relevant product recommendations, Predictry’s engine tracks which pages shoppers go to, maps out viewing and purchasing behavior, and, if shoppers opt-in, will also consider information from their connected social networks.” Reports TechCrunch.
The Malaysian Development Corporation’s (MDEC) Big Data Product and Commercialization Fund both participated in the round.
The funding will help grow the company and hire more developers.
Igneous Systems, May 7, $23.6M
Igneous Systems, a company that is reimagining the future of data center infrastructures, has closed a $23.6M Series A funding.
New Enterprise Associates (NEA) with participation from Madrona Venture Group, Redpoint Ventures and Isilon Systems co-founder, Sujal Patel all participated in the round.
The funding will help expand both the company’s workforce and product development efforts.
Metacloud Inc., May 7, $15M
Leader in deploying and operating OpenStack for some of the world’s largest companies, Metacloud closed $15M in Series B funding.
“We have filled a significant market gap by offering solutions that combine the convenience of public cloud with the security, predictability, and economic advantages of private cloud. And the market is responding.” said Steve Curry, co-founder and president at Metacloud.
Pelion Venture Partners, Silicon Valley Bank, AME Cloud Ventures, Canaan Partners, and Storm Ventures all participated in the round.
Metacloud will use the funding to grow its team and further develop its product platform.
Optimizely, May 5, $57M
A/B Testing platform Optimizely has successfully closed $57M in Series B funding.
Andreessen Horowitz, Benchmark Capital and Bain Capital Ventures all participated in the round.
The new funds will help introduce the company’s newest products to customers.
Perfecto Mobile, May 7, $20M
MobileCloud TM Platform provider, Perfecto Mobile has raised a $20M growth equity investment.
“The mobile app market is booming as consumers and enterprise employees depend on high-quality, transactional mobile apps to optimize business performance, increase productivity and better their lives,” said Eran Yaniv, CEO of Perfecto Mobile. “First impressions are critical for the success of these apps and companies are focusing on quality from the beginning to ensure a great user experience. Perfecto Mobile is proven to be essential in helping our customers and partners surpass their end users’ quality expectations. Our growth, combined with the support of our new and existing investors, solidifies our SaaS-based value proposition and the leadership that we bring to the market. With the rising importance of distributed application development teams and DevOps, Perfecto Mobile will significantly enhance its cloud offering with new services and capabilities to address emerging needs as well as expand sales and marketing activity on a global scale.”
FTV Capital along with Carmel, Vertex and Globespan Capital Partners participated in the round.
Perfecto Mobile plans to grow and further develop their leadership position in the mobile application quality space.
Kabbage, May 5, $50M
Kabbage, Inc., announced that it has closed a $50M in Series D funding round.
SoftBank Capital led the round with assistance from TCW/Craton, Lumia Capital, David Bonderman, Warren Stephens, UPS’ Strategic Enterprise Fund, Peter Thomson’s Thomvest, BlueRun Ventures, and Mohr Davidow Ventures.
“Kabbage has pioneered 21st century business financing by collapsing the time it takes to obtain a loan from weeks to a few minutes, which is just the beginning.” said Kathryn Petralia, Co-Founder and COO at Kabbage. “SoftBank has deep experience in scaling high growth companies both domestically and internationally. We will leverage the SoftBank investment to continue to revolutionize business financing with rapid product innovation, partnerships that provide the power of the Kabbage platform to third parties, and geographic expansion -- all geared to dramatically expand access to capital to businesses everywhere.”
This news allows Kabbage to grow more efficiently whit fewer resources and attain better results.
iZettle, May 9, $55M
iZettle has closed €40M or $55M in Series C funding.
Zouk Capital, Dawn Capital and Intel Capital joined iZettle’s existing investors in this round.
“The new funding will help us launch exciting new tools that make running a small business easier, and to identify new potential territories for expansion.” Reports iZettle.
PYMNTS.com has more information on iZettle’s development.
LimeRoad, May 8, $15M
LimeRoad, one of India’s more successful online commerce companies, has closed $15 million in Series B funding.
Tiger Global led the round with participation from returning investors Lightspeed Venture Partners and Matrix Partners India.
LimeRoad CEO and founder Suchi Mukherjee said, “India accounts for 20% of the world’s manufacturing of lifestyle products and we are convinced that conquering the discoverability of that wide array needs new thinking and a fresh socially architected approach. Ninety percent of our 1,500,000+ products and looks are unique and user generated, and this is growing 30% to 40% per month.”