Funding Daily: From Senegal to Silicon Valley —
Today is 2/21. Interestingly (and searching desperately for an introductory topic), 221 is the Senegalese telephone country code. This discovery sent me down a Wikipedia rabbit hole, where I learned that French is the West African country’s official language, but many locals speak Wolof; Islam is the predominant religion, and Senegal is known across Africa for its musical heritage. Now all the way from the West coast of America, I bring you today’s funding news.
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‘X’ marks the spot for Battery Ventures’ new $900M fund
Battery Ventures has filled its latest investment treasure chest with $900 million. The venture capital firm announced today the closure of its tenth fund, which actually includes two funds that will be co-invested. Battery Ventures X (BVX) is a $650 million fund that will back companies at all stages of their lifecycle. The Battery Ventures X Side Fund will dedicate $250 million to companies further down the pipeline and support acquisitions. They will focus on companies working with software-as-a-service for the enterprise and big data analytics; IT infrastructure like networking and storage; technology-enabled business services; and buyouts in markets that are “ripe for consolidation.” Read more on VentureBeat.
Skyera hooks $51.6M from Dell Ventures to bring affordable SSDs to the enterprise
Enterprise solid-state drive maker Skyera has raised $51.6 million in its second round of funding, with hopes that it can make a dent in a crowded flash storage field. Skyera wants to offer big enterprise companies super-fast storage for their data centers on the promise that its storage is affordable, has low power consumption, and will greatly boost software performance. The new funding was led by Dell Ventures with participation from other unnamed investors. The $51.6 million actually includes $6.5 million from a prior investment from the same firms, but this is the first time the company has announced any funding numbers. Read more on VentureBeat.
With $17.3M, Euclid brings power of data to real world retailers
Euclid has raised $17.3 million in its second round of funding to bring data analytics to physical retailers. Euclid gives brick-and-mortar businesses the ability to better understand their customers by monitoring their in-store behavior through wifi sensors.The company refers to its approach as “Google Analytics for the real world.” Benchmark Capital led this round, with participation from NEA, Harrison Metal, and Novel TMT Ventures. Euclid officially launched in 2011 and announced $5.8 million in funding. Its founders previously started Urchin, which was acquired by Google and set the foundation for Google Analytics. Read more on VentureBeat.
Drawbridge raises $14M bridge towards larger seas
Yesterday, mobile ad startup Drawbridge revealed a $14 million round led by Northgate Capital. This is Drawbridge’s second round of investment and included participation from Kleiner Perkins Caufield & Byers and Sequoia Capital. Drawbridge is the developer of technology that tracks what people do online across multiple devices, to create profiles that advertisers can use to wage more targeted campaigns.
Edtech startup lifts heavy weight of loans off student shoulders
StudentLoanHero is a startup that gives student borrowers tools to repay their loans faster. The company just closed a seed round with Expansion VC and was accepted into the latest batch at the Socratic Labs EdTech Accelerator in New York City. Students and grad carry more than $1 trillion in student debt right now, and 65% misunderstand their obligations. StudentLoanHero helps add efficiency and transparency into the process, offering organizational tools, tracking, and strategic guidance. Read more on VentureBeat.
Investors throw Wedding Party a bouquet of $1 million
People are willing to spend exorbitant amounts of money to make their weddings memorable. Wedding Party, a mobile app that lets newlyweds collect photos from their wedding guests to create shared albums, has raised $1 million in seed funding led by NEA and Felicis Ventures, along with angel investors. The app is available on iOS and Android, and photos can also be accessed through Facebook or the web.
Danish startup gives game developers access to analytics
GameAnalytics, a startup based in Copenhagen, has raised $2.5 million and announced the release of its fermium Software-as-a-Service game analytics platform. The technology helps game developers and studios take a more data-driven approach to game development and moneitzation. It tracks million of players every month from more than 40 studios to provide insight into player behavior, retention and conversion rates, etc… Investors include Sunstone Capital, CrunchFund, and a group of super angels.
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