Inventory Management Leader Yieldex Secures $8.5M in Series B Financing

Madrona Venture Group Leads Round with Amazon.com, Sequel Venture Partners, and First Round Capital Participating

Yieldex Moves Headquarters to New York City from Boulder, CO

NEW YORK Yieldex, which provides advanced inventory management and forecasting technology solutions for addressable media, announced today the close of its Series B round of financing. The financing round of $8.5 million was led by Madrona Venture Group. New investor Amazon.com and prior investors Sequel Venture Partners and First Round Capital also participated in the B round.

Yieldex also announced that they are moving their company headquarters from Boulder, Colorado to New York City. This will situate them at the center of the digital media ecosystem.

Yieldex technology addresses several major pain points for the ad sales and operations organizations of major publishers, creating value from day one, said Scott Jacobson, Principal at Madrona Venture Group. In a fundamentally different and better way, the company is solving problems that have plagued the industry for more than a decade. We have been especially impressed by the market interest in Yieldexs DynamicIQTM platform and the strength of the management team.

As a publisher of interactive advertising we understand the challenges associated with inventory management, said Jeff Blackburn, Senior Vice President at Amazon.com. We believe Yieldex has built an innovative piece of technology that will move the industry forward.

The Amazon.com investment comes on the heels of Yieldex having won the top award in the Amazon Web Services Start-up Challenge in November, for their unique use of cloud computing to provide robust inventory analytics.

“An investment of this scope is obviously validating for us, and it prepares us to withstand the vagaries of this economy,” said Tom Shields, Yieldex’s CEO. “This gives us the ability to attract top talent and continue to develop new products on our DynamicIQ platform to further increase yield and efficiency for our premier customers like Martha Stewart Living Omnimedia, Inc. We are also excited about moving headquarters to New York, to more effectively serve the publisher community, many of who are already giving us extremely favorable feedback.”

Yieldex provides accurate revenue, inventory and availability forecasting, eliminates manual spreadsheets, increases transparency of data across the organization and provides fact-based data for use in decision making. Yieldexs Patent-pending, cloud-enabled DynamicIQ platform powers hyper-targeted inventory availability forecasts, campaign scenario planning, and advanced business intelligence through one comprehensive user interface, giving executives the transparency and insight needed to maximize inventory yield and revenue.

Madrona Venture Group, (www.madrona.com), has been investing in early-stage technology companies in the Pacific Northwest since 1995 and has been privileged to play a role in some of the region’s most successful technology ventures. The firm invests predominately in seed and Series A rounds across the information technology spectrum including consumer Internet, commercial software and services, digital media and advertising, networking and infrastructure, and wireless. Madrona currently manages nearly $700 million and was an early investor in companies such as Amazon.com, Farecast.com, Classmates.com, and World Wide Packets.

Yieldex, Inc. (www.yieldex.com), the leader in advertising inventory management, forecasting, and yield optimization solutions, provides the digital media industry with visual tools for efficiently managing addressable advertising. Our patent-pending cloud-enabled DynamicIQ platform powers hyper-target inventory forecasts, campaign scenario planning, and advanced business intelligence, giving executives and operations the transparency and insight needed to maximize inventory yield and revenue. Founded in 2007 by industry veterans from NetGravity and Matchlogic, Yieldex is privately held and has offices in New York, NY and Boulder, CO.

Source: Yieldex, Inc.

Celerus Diagnostics Secures $5 Million Series C Financing

CARPINTERIA, Calif. Celerus Diagnostics, the rapid cancer diagnostics company, today announced the completion of $5 million in financing by private investors.

“We’re delighted with the first closing of our Series C financing,” said Dave Gross, newly named Chief Executive Officer of Celerus Diagnostics. “With this additional investment, we will further address market demand for rapid IHC (immunohistochemistry) testing and accelerate the commercialization of our onboard heating solution for the Celerus Wave.”

The Celerus Wave System is the first and only solution to deliver precise, standardized histology and cytology results in 15 minutes. Intra-operative frozen tissue sections now undergo IHC staining regularly using the Wave System. At its core, patented Dynamic Replenishment Technology utilizes breakthroughs in hydrodynamics and biochemistry to accelerate reactions in the laboratory.

This allows for the decentralization of testing and moves results closer to the patient for faster decision making, said Gross. By addressing the unmet needs of the anatomic pathology laboratory, the Celerus Wave provides real-time solutions for cancer patient management.

The Celerus Wave System is currently in use at numerous hospitals and reference laboratories across the country.

About Celerus Diagnostics Founded in 2004 in Santa Barbara, California, Celerus Diagnostics develops innovative solutions to enhance the diagnostic capabilities of the anatomic pathology laboratory, provide clinicians with rapid, reliable, actionable diagnostic information, and advance patient care. The first Celerus Wave Systems were installed in North America and Europe in 2008.

Source: Celerus Diagnostics

Vuzit Starts Year with Fresh Funding

PHILADELPHIA, Feb. 11 Brent Matzelle, CEO & Founder of Vuzit, announced today that the company received funding from a mix of angel investors and economic development organizations, including Robin Hood Ventures, Innovation Philadelphia and Ben Franklin Technology Partners of Southeastern Pennsylvania.

Vuzit, located at the Science Center in Philadelphia, was part of the inaugural DreamIt Ventures program. Their flagship technology is an online document viewer and SaaS-based security application designed to provide a more secure method to share and store sensitive documents that today are often distributed by e-mail. Vuzit won the “Most Innovative Product or Service” from the Ben Franklin Emerging Business Awards competition earlier in the year. Coley Brown, President of CTB Consulting, said, “We’ve been following the progress of Vuzit for some time and have chosen to be an investor with Innovation Philadelphia and Ben Franklin. Vuzit has shown amazing promise with over 5,000 trial users and a steep viral marketing curve. With Vuzit’s plans of a future document control system supporting Sarbanes-Oxley and HIPPA privacy requirements, Vuzit is primed to extend their current success into a whole new market.” Coley is a member of Robin Hood Ventures and is mentoring Vuzit as a board member and temporary Vice President of Sales.

Matzelle added, “It is satisfying to receive support from investors in the Philadelphia community like Robin Hood, Innovation Philadelphia and Ben Franklin Technology Partners. This was a natural next step for us after an intense summer with DreamIt Ventures where we were able to quickly transition from working prototype to a live application with paying customers. This money and related support will allow us to continue to drive the business forward, capitalizing on our positive momentum.”

The company will use the investment capital to enhance its sales and marketing efforts as well as to patent their proprietary document technology.

About Vuzit: Vuzit is a Philadelphia area software company that built an electronic document distribution platform to provide enhanced security and analytics. The web services/AJAX software allows users to view documents through an application embedded in their web browser, tracking and restricting access, a best of breed technology for distributing and viewing documents.

To learn more about Vuzit and their new technology, please visit the website at http://vuzit.com/.

Source: Vuzit

Security Innovator AlertEnterprise Receives $8 Million in Series A Funding From Opus Capital

FREMONT, Calif. AlertEnterprise, the technology leader in access controls and security, announced it has secured $8 million in Series A financing from Opus Capital, a leading early-stage venture capital firm in Menlo Park, CA. AlertEnterprise is a pioneer in the convergence of physical access control and IT systems and the recent recipient of the SAP TechEd 2008 Demo Jam Award.

With its flagship AlertAccess and AlertAction products, AlertEnterprise monitors and detects potential security threats, enabling real-time response. These solutions allow enterprises to automate, track and audit rules-based access to physical locations and IT applications, providing global control, security and enforcement of governing policies, practices and regulations.

The single biggest gap in enterprise security is the integration of IT authorizations and physical access controls, a near universal cybersecurity vulnerability, said Jasvir Gill, CEO and founder of AlertEnterprise. This financing enables us to significantly intensify our efforts to help our customers fight fraud, theft, malicious behavior and even human error by automating prevention, detection and remediation of physical and IT security threats.

Enterprises need constant awareness of physical and IT access threats especially threats that may look innocent in isolation, but represent a danger in combination. AlertEnterprise offers proven solutions for enterprises that need to link all areas of access control. The funding will be used to expand the team and to engage a growing pipeline of sales opportunities. AlertEnterprise also vigorously brings companies into compliance with a wide array of regulations while helping them save money through automated threat prevention, detection, and resolution as well as remediation and intervention.

We have been evaluating security and compliance companies for some time now, said Ken Elefant, general partner of Opus Capital, who has joined the AlertEnterprise board of directors. AlertEnterprise clearly stood out from the rest due to its innovative technology, proven management team and because it solves a very real problem of enterprises: the integration of physical building security with IT security. Given our long term relationship with Jasvir Gill and the team as well as our interest in this space, it was a great fit for Opus Capital.

About AlertEnterprise

AlertEnterprise, the technology leader in access controls and security, and the proud winner of SAP 2008 Demo Jam, provides the only complete solution for role-based, rules-driven access enforcement. AlertEnterprise addresses blended risk assessment and security across all logical systems, IT applications, databases, and physical systems from a single analytic dashboard, complete with auto-remediation capabilities. The AlertEnterprise solution automates simultaneous provisioning of access privileges across the enterprise, with multivariate workflow, risk analytics, ERP integration, and real-time mitigation. Additionally, AlertEnterprise delivers visual risk and event monitoring, alerting, mitigation, and analytics displayed on a geospatial map. AlertEnterprise is headquartered in Fremont, CA and on the web at www.alertenterprise.net.

About Opus Capital

Opus Capital is an early-stage venture capital firm with more than $1 billion of committed capital under management, investing in committed, high integrity entrepreneurs building market-leading technology companies. The team has participated in the successful outcomes of more than 80 companies (including 50 IPOs) in the U.S. and in Israel including Adaptec, AirGate PCS, BlueNile, Brocade, Ciena, DoubleClick, Electronics for Imaging, FedEx, Genesys, Harmonic, Informatica, Kidaro and Vantive. Opus Capital is headquartered on Sand Hill Road in Menlo Park, California. For more information, visit www.opuscapital.com.

Source: AlertEnterprise

Pontis Secures $19.65 Million in Equity Financing Led by Norwest Venture Partners

GLIL YAM, Israel Pontis Ltd, a developer of software marketing systems for Communication Service Providers (CSPs), today announced that it has secured a total of $19,650,000 in equity financing. Norwest Venture Partners (NVP) led the funding round, which included investments from current shareholders Sequoia Capital, Accel Partners and Evergreen Venture Partners. As a part of the investment, Dror Nahumi, partner at NVP, will join Pontis board of directors.

The Pontis Marketing Delivery Platform (MDP) for mobile, TV and fixed line operators is the only real time fulfilment and execution system for personalized and contextual marketing offers across platforms and channels. The Pontis solution has been proven to increase sales considerably, allowing Pontis to secure deals with a growing number of tier one operators including Vodafone, Telefonica and T-Mobile.

Pontis proved the ability of its real time software to stimulate sales and dramatically increasing service providers ARPU. We are extremely impressed with the progress and success Pontis has experienced recently with tier one customers and partners supporting pre-paid, VOD and VAS services, said Dror Nahumi, NVP. Pontis has established itself as the leader in the emerging category of marketing execution solutions, which allow operators to deliver a contextual and personalized services buying experience to millions of customers worldwide.

We are thrilled that Norwest Venture Partners, together with our current shareholders, Sequoia Capital, Accel Partners and Evergreen Venture Partners, has chosen to invest in Pontis, commented Michael Kerbis, Pontis CEO. Raising such a significant round of funding in this current economic climate from one of the worlds leading venture capital groups, is a testimonial for the Pontis team and the value that the Pontis solution provides to its customers. The funding will enable us to further expand our customer base and technology development across the mobile, TV and fixed line platforms.

About Pontis

Pontis is a leading provider of software marketing systems for Communication Service Providers worldwide. The companys mission is to empower Communication Service Providers marketers to provide customers with the optimal product offering and purchasing experience. For more information about Pontis, please visit us at www.pontis.com.

About Norwest Venture Partners

Norwest Venture Partners (NVP) is a global venture capital firm that has actively partnered with entrepreneurs to build great businesses for more than 47 years. NVP focuses on investments in information technology including: mobile, software, services, enterprise and communications systems, Internet, media and consumer and semiconductor/components. The firm currently manages more than $2.5 billion in venture capital. It has offices in Palo Alto, California, Mumbai and Bangalore. NVP has funded over 450 companies in the U.S. since inception, as well as several investments in India, Israel and China and more than 20 cross border companies.

Some of the firms recent investments and transactions include Adventity, Airespace (acquired by Cisco Systems), Clairmail, deCarta, Jigsaw, KACE, mBlox, Mozes, Omneon, Open-Silicon (acquired by Unicorn Investment Bank), Persistent Systems, Qumranet (acquired by Red Hat), Rackspace (NYSE: RAX – News), SideStep (acquired by Kayak), Spinnaker Networks (acquired by Network Appliance), Veraz Networks, Veveo, Winphoria Networks (acquired by Motorola) Yatra, and Yipes (acquired by Reliance/Flag Telecom). NVP has also funded such market leaders as Actel Corporation, Cerent (acquired by Cisco Systems), Documentum, Extreme Networks, Forte Software (acquired by Sun Microsystems), PeopleSoft and Tivoli Systems (acquired by IBM). For more information, please visit www.nvp.com.

About Sequoia Capital

Since 1972, Sequoia Capital has provided startup venture capital for people who have the creative capacity to turn ideas into companies. As the Entrepreneurs Behind the Entrepreneurs, Sequoia Capitals partners have worked with innovating companies such as Cisco Systems, Yahoo!, Google, PayPal (eBay), Apple Computer and Oracle. The companies funded by Sequoia Capital now account for about 10 percent of the value of NASDAQ. For more information, please visit: www.sequoiacap.com.

About Accel Partners

Founded in 1983, Accel Partners has a long legacy of success and innovation in the venture capital business. The firm is dedicated to partnering with outstanding entrepreneurs to build world-class Internet, software and infrastructure companies. Accel Partners has more than $4bn under management from its offices in Palo Alto, London and China, and its portfolio companies have completed IPOs that have created well over $150 billion in market capitalization. Representative current and former investments include Brightcove, Comscore, Double Fusion, Facebook, Foundry Networks, Glam, Macromedia, RealNetworks, Redback, UUNet, Veritas, and Walmart.com. For more information, please visit: www.accel.com.

About Evergreen Venture Partners

Evergreen Venture Partners was established in 1987 as one of Israels first venture capital firms. Evergreen invests in early-stage Israeli and Israel-related companies in the following fields: software, internet & media, communications and healthcare. Evergreens $650 million of venture capital funds under management represents one of the largest portfolios in Israel with investments in over 120 technology start-ups. Evergreen has exited successfully 35 portfolio companies through IPOs and acquisitions. Some of these companies include Traiana, Colbar, Identify, BigBand, P-Cube, Actona, Backweb, Exalink, Radvision and Radware. Evergreen is currently investing from its fifth generation fund, Evergreen V, a $200M fund. For more information, please visit www.evergreen.co.il

Source: Norwest Venture Partners/Pontis

Telepresence Leader Teliris Receives $11 Million in New Capital From Fidelity Ventures and Columbia Capital

Investment Will Help Drive Telepresence Innovation and Market Leadership As Telepresence Deployments Continue to Grow

NEW YORK, Feb. 9 Teliris, the leading provider of telepresence solutions, announced today it has secured $11 million in new equity capital from Fidelity Ventures, Columbia Capital and an additional strategic investor. This investment is in addition to the Fidelity Ventures and Columbia Capital initial $40 million funding in 2007.

Teliris will use the additional funding to capitalize on increased demand for its current products and services, as well as fund research and development (R&D) projects.

“Teliris has secured the leading position in both innovation and deployments within the telepresence industry,” said Anne Mitchell, Fidelity Ventures partner and Teliris board member. “Since our initial investment, Teliris has experienced record sales growth, hired key executives, significantly increased its marketing, sales and R&D teams, and expanded its footprint to over 30 countries.”

“Even in today’s challenging economic environment, Teliris customers are finding that strategic investments in technology solutions and services can save costs and spur growth through increased and more efficient collaboration,” said Dr. S. Ann Earon, president of Telemanagement Resources International Inc.

“I believe Teliris continues to be extremely well-positioned to shape the future of the industry,” said John Siegel, Columbia Capital partner and Teliris board member. “This investment is a testament to Teliris’ consistently strong ability to deliver impactful and measurable ROI results to each and every customer.”

“We welcome our newest investor aboard during this exciting time for Teliris,” said Marc Trachtenberg, Teliris CEO and co-founder. “This new round of financing will help us continue to innovate and build upon our unique market-leading telepresence and collaboration platforms.”

Since 1999, Teliris Telepresence has provided its diverse customers with the most flexible, reliable and cost-effective solution on the market. Its fifth generation portfolio is built on the core of Teliris VirtuaLive(TM) Telepresence technology. Leading the industry, Teliris’ technology features the only available interoperability option to connect between different telepresence solutions, a natural multipoint meeting experience and virtual vectoring for accurate eyelines.

About Teliris:

Teliris implements the world’s most widely deployed fully managed telepresence solutions, realistically replicating the human dynamics of an in-person meeting. Teliris has deployments in over 30 countries with the largest installed base of Global 2000 companies, including Lazard, Pearson plc, GlaxoSmithKline, and Royal Bank of Scotland, XChanging and Merck, among others. Headquartered in New York and London, the company delivers the most immersive and natural virtual meeting experience with end-to-end integration and an unparalleled 99%+ availability guarantee. For further information regarding Teliris, visit the company’s web site at www.teliris.com

Source: Teliris

E-mail Security Innovator Sendio Raises $3 Million in Series B Venture Capital Funding

Athenian Venture Partners joins existing investors to fund market expansion of E-mail Security Platform

IRVINE, Calif.Sendio, Inc., an innovative e-mail security company with solutions that incorporate the human element to totally eliminate spam and e-mail threats in the enterprise environment, announced today it secured $3 million in Series B funding from lead investor Athenian Venture Partners, along with previous institutional investors Vicente Capital Partners (formerly Kline Hawkes), Shepherd Ventures and Momentum Venture Management. In addition, Athenian Venture Partners Senior Partner Franois Hlou joined Sendios Board of Directors. The capital investment will help fund the expansion of the companys sales and marketing initiatives for its E-mail Security Platform (ESP), a robust and scalable appliance solution for the enterprise which entirely eliminates spam and e-mail threats, enabling dramatic time savings for users and IT administrators.

Sendios unique anti-spam technology landed this Series B investment despite the challenging economic environment, reaffirming the increasing demand for enterprise security solutions that protect organizations from data breaches, viruses, botnets and other threats. According to a recent Dow Jones VentureSource report, Southern Californias fourth quarter venture capital numbers dropped for the first time since 2003, down more than 18 percent annually. However, Southern Californias IT industry actually experienced an increase in investments, bucking the national economic trend. The growth of Sendios sales and marketing efforts will also significantly expand their customer reach, particularly in vertical markets and via the companys channel partners, and continue to build strong shareholder value.

We believe that we are way ahead of the curve in terms of anti-spam technologies, and also that given the current state of our economy, even more vicious spam and virus attacks will take place as spammers try to take advantage of the situation, said Kevin Bowyer, CEO of Sendio. This $3 million investment from our existing investors, and Athenian Venture Partners, confirms our strength and future growth.

An E-mail Security Platform That Works

Sendios E-mail Security Platform is the only challenge-response solution designed specifically for the enterprise. The ESP obtains its effectiveness through a combination of SilverListing, a proprietary technology that includes a set of low-level SMTP tests to determine the legitimacy of the sending e-mail server, and Sender Address Verification (SAV), which verifies the authenticity of first-time, unsolicited senders, and introduces a human element into the process. Sendios ESP far surpasses the capabilities of current spam filter offerings and finally secures the enterprise inbox through the complete elimination of spam.

Under the strong leadership of Kevin Bowyer and his team, Sendio continues to build upon a robust and differentiated technology, making the company well-positioned to continue its rapid growth, said Franois Hlou, senior partner at Athenian Venture Partners. We firmly believe that, particularly in this economic environment, there will continue to be a high level of demand for Sendios E-mail Security Platform as organizations begin to realize that spam filters just do not work.

For more information about Sendios E-mail Security Platform, please visit http://www.sendio.com/products/.

About Sendio, Inc.

Sendio, Inc., an innovative e-mail security company based in Irvine, California, re-establishes e-mail as a trusted communications tool by totally eliminating spam and e-mail threats in the enterprise environment. This results in dramatic time savings for users and for IT staff and reclaims lost resources for the company. Unlike filters, which require ongoing maintenance but remain only partially effective, Sendios proactive approach to e-mail security incorporates a critical human element that brings authenticity and control to e-mail communications. Enterprise customers, in rapidly growing numbers, are adopting Sendios e-mail security platform (ESP) to save time and money and to provide their employees and partners with a healthier and more focused business environment. For more information on totally eliminating spam and e-mail threats with Sendio, please visit www.sendio.com or call 877-END-2-SPAM.

Source: Sendio, Inc.

FetchDog.com Announces $4 Million Financing to Power Market Development and Expand Executive Team

Company Names Claude P. Sheer, Ziff-Davis, Beliefnet.com and MenuPages.com Media Veteran, CEO

PORTLAND, Maine FetchDog.com, a leading online destination for dog owners to shop, learn and socialize, announced today that it has closed a $4 million round of funding led by Borealis Capital Partners and Harbor Light Capital Partners. In addition to its internet site, FetchDog publishes a popular catalog for dog supplies, a $35+ billion market in the United States. With this funding, FetchDog.com will continue to dramatically expand the scope of its product and service offerings, said David E. Shaw founder and chairman of the company, and founding CEO of IDEXX Laboratories and Ikaria Holdings. FetchDog.coms unique combination of high quality merchandise, internet and catalog shopping, social networking, extensive online information and media resources has made it a favorite place for passionate dog owners. And there are more than 40 million dog owning households in the U.S. The enthusiastic response of our customers and partners has been very gratifying to the team, and demonstrates the power of our technologies and other capabilities. Glenn Close, another founder and blogger on the site, adds Peoples love of dogs is highly motivational to everyone at FetchDog, and we take great pleasure in knowing that FetchDog impacts peoples lives in a very meaningful way. Its also important to us that our work, including charitable shops, benefits dog rescue and adoption shelters and other non-profit organizations including those dealing with the training of service dogs.

The company plans to use the funding to improve its infrastructure, develop new content, entertainment and philanthropic initiatives as well as to expand its executive team starting with life-long pet owner, and internationally recognized media executive, Claude P. Sheer. Claude has successfully grown a wide range of content businesses in the course of his career, from NYSE traded technology content company Ziff-Davis to internet start up Menupages.com, which was recently sold to New York Media, noted Shaw. He will join the Fetch team with the goal of rapidly scaling an internet site that combines commerce, content and community to become the worlds leading direct marketing destination for pet products and services. FetchDog.com has attracted an extraordinary group of highly successful entrepreneurs and executives. I am thrilled to join founder and President Gretchen Kruysman and the rest of the team in the work of building a world class commercial success with a well developed sense of community service, said Sheer.

About FetchDog.com

FetchDog is a Portland, Maine based catalog, e-commerce, media and information company dedicated to serving the comprehensive needs of passionate dog owners. The company has previously been financed primarily by Black Point Group LP, David E. Shaw, Glenn Close, William T. End, Benjamin Shaw and a number of individual investors with relevant experience in e-commerce, media and direct marketing businesses. The company is widely known for its exceptionally broad and high quality dog supplies, its state-of-the-art e-commerce platform and catalog, its extensive on-line resources and blogs, and its charitable activities with shelters and other non-profit organizations. For more information please visit www.fetchdog.com.

About Black Point Group

Black Point Group LP is a private equity partnership created by David Shaw and family with investments in public and private growth companies. Recent private investments include Ikaria, Ironwood and FetchDog. The firm has offices in New York City and Portland, Maine. For more information on Black Point Group, please visit www.blackpointgroup.com.

About Borealis Capital Partners

Borealis Ventures is an early-stage venture capital firm that partners with founders to build compelling companies from the earliest stages. The firm is based in Northern New England, with portfolio companies in internet and mobile, application software and business productivity, healthcare and other sectors. For more information please visit www.borealisventures.com.

About Harbor Light Capital Partners

Harbor Light Capital Partners is a private investment firm investing in early and growth stage companies located in the Northeast. The firm focuses on the technology, healthcare, energy and manufacturing sectors and makes equity investments in the $1M to $5M range. Harbor Light Capital Partners provides the commitment, capital, and collaboration to build successful and sustainable businesses that are leaders in their industry. For more information, please visit www.hlcp.com.

Source: FetchDog.com

SynergEyes, Inc. Raises $13.3 Million in 'Series C' Financing

CARLSBAD, Calif., Feb. 6 SynergEyes, Inc., the high Dk hybrid contact lens manufacturer, announced today the closing of $13.3 million in Series C financing to fund the development and clinical trials for next-generation hybrid contact lens products and to expand sales and marketing efforts globally.

De Novo Ventures of Palo Alto, CA, led this round as well as SynergEyes’ Series B round. Bio-Star Private Equity Fund joined Series A and B investors: Alloy Ventures, Delphi Ventures, InnoCal Venture Capital and Windward Ventures as a new investor.

Based in Carlsbad, CA, SynergEyes has developed a new type of contact lens that combines two materials — a rigid gas permeable center and a soft, hydrophilic outer skirt. The result is a durable “hybrid” lens for patients seeking crisp, clear vision and the all-day comfort of a soft lens.

“SynergEyes sincerely appreciates the continued commitment of our venture capital partners and their support of the vision and mission of SynergEyes. Their investment will ensure that the millions of patients in need of our technology will have access to the many features and benefits only a hybrid contact lens can offer,” said Paul Kammann, CFO of SynergEyes, Inc.

“SynergEyes hybrid contact lenses represent a significant advancement in the contact lens industry and give eye care professionals a one-of-a-kind tool to satisfy one of the largest growing patient categories in the world,” said Jim Ham, CEO for SynergEyes, Inc. “SynergEyes has demonstrated substantial revenue growth since market introduction in 2006. Our next-generation products will re-define state-of-the-art in the vision correction industry.”

Jay Watkins, managing director of De Novo Ventures, expressed his firm’s continued support for SynergEyes: “SynergEyes continues to demonstrate significant progress towards becoming a world-class vision care company. Hybrid contact lenses address a critical patient need and we are extremely pleased to continue our strong partnership with this innovative company.”

The newest SynergEyes investor, Bio-Star Private Equity Fund, believes the company has the potential to deliver a truly transformational vision correction product. “During the due diligence process, our firm realized the compelling value proposition SynergEyes offers not only patients, but also eye care practitioners,” said Renee Masi, Managing Member of BioStar. “The market potential for a product that can offer all the benefits of a rigid and soft contact lens without any of the disadvantages is tremendous.”

Incorporating patented HyperBond(TM) technology and HydrolEyes(TM) surface science, the SynergEyes lenses with FDA market clearance include SynergEyes A for naturally occurring ametropia, targeting patients with astigmatism, current gas permeable lens wearers, and patients demanding optimized vision; the SynergEyes KC for keratoconus; the SynergEyes Multifocal lens for presbyopia; and the SynergEyes PS for post-surgery and post-trauma refractive errors.

Source: SynergEyes, Inc.

Borrego Solar Systems Secures $14 Million in Venture Financing to Fuel Next Stage of Growth

New Funding to Support the Geographic Expansion of Commercial and Government Business; Industry Veterans John Robert Wallace and Stan Change Join the Board of Directors

EL CAJON, Calif. Borrego Solar Systems, Inc., a leading designer and installer of grid-tied solar electric power systems, today announced that it has secured $14 million in venture financing to fuel a major geographic expansion and to support its next phase of corporate growth. The company will use the round of financing to expand its commercial and government design and installation operations into the Mid-Atlantic Region and to develop new low-cost integration solutions which will reduce overall system cost and ultimately speed return on investment for its customers.

In 2008, we had a record year that saw us cement our position as one of North Americas largest and most respected designers and installers of commercial and residential solar electric systems, said Aaron Hall, CEO of Borrego Solar. However, we believe we have only scratched the surface of the companys and the markets potential. The additional funding combined with the significant market expertise and operational experience of John and Stan will help us accelerate our growth and capitalize on the immense business opportunity facing the company in 2009.

Borrego Solar closed 2008 with $60 million in revenue and more than $90 million in contracts, making it one of the countrys fastest growing solar companies. The company was the eleventh fastest growing private energy company according to Inc Magazine and #261 overall. Borrego has installed major systems on schools, affordable housing communities, grocery and retail businesses, and town and municipal facilities throughout California and New England.

Joining Borrego Solars Board of Directors are solar industry veterans John Robert Wallace and Stan Chang. Mr. Wallace has more than two decades of experience in executive positions in solar, electric drive trains and battery technologies, at companies including Xantrex and Ford Motor Company. Mr. Wallace was CEO of Xantrex before selling the company to Schneider Electric in 2008.

We are reaching a convergence point in the solar industry where environmental, energy, economic and geopolitical concerns, combined with new technology developments and customer demand are driving rapid innovation in the solar market and creating an exponential business opportunity for the right companies, said Wallace, currently Chairman of Enova Systems, a provider of hybrid electric and electric powertrains for heavy-duty vehicles. Borrego Solar has been synonymous with quality design and installation for more than two decades, giving the company the experience, reputation and scale to be the leader in the commercial and government markets.

Joining Mr. Wallace on Borregos Board of Directors is Stan Chang, who serves as an executive and board member at major corporations in solar module production, poly-silicon manufacturing and chemical distribution and manufacturing. Mr. Chang brings more than 30 years of engineering and executive experience to Borregos Board of Directors.

The majority of investment and attention in the solar market is on research and development and lab-based performance, said Chang. I believe that more focus needs to be placed on real-world system yield and how superior design and installation can boost system performance. Borrego is leading the market in using the latest integration techniques, designs and technologies to help maximize system performance to drive a faster payoff for its customers.

About Borrego Solar Systems, Inc.

Established in 1980, Borrego Solar Systems, Inc. is one of the nations leading designers and installers of commercial, residential and public sector grid-connected solar electric power systems. Borrego Solars photovoltaic systems are efficient, reliable and cost-effective. With more than two decades of experience and more than 1,000 installations, Borrego Solar offers a complete line of design and installation services throughout California and New England. For more information, visit www.borregosolar.com.

Source: Borrego Solar Systems, Inc.

F. Morgan Rodd, Jr. Joins Milestone Venture Partners as Partner

New Funding to Support the Geographic Expansion of Commercial and Government Business; Industry Veterans John Robert Wallace and Stan Change Join the Board of Directors

NEW YORK Milestone Venture Partners, an early-stage venture capital firm, today announced the addition of its fourth General Partner, F. Morgan Rodd, a ten-year veteran of the venture capital industry. Rodd previously served as Vice President of New Ventures at E*TRADE Group, Inc. where he co-led a six person team in making investments for a $210 million venture fund. In 2003, the fund spun out of E*TRADE and became ArrowPath Venture Partners. Rodd, in his capacity as Co-Managing Partner, guided a team that made investments in a wide range of opportunities, including enterprise software, infrastructure technology, Internet technology, and technology-enabled business services.

He initiated the firms investments in the areas of IT security, data management and storage, Open Source and software-as-a-service. Examples of his successful investments include Security Focus (acquired by Symantec in 2002), Sanera (acquired by McDATA in 2003), Immunix (acquired by Novell in 2005), NetSec (acquired by Verizon in 2005) and Bridgestream (acquired by Oracle in 2007).

Prior to becoming a venture capitalist, Rodd served as vice president of business development and Chief Financial Officer for Urbanite Network, a venture-backed Internet company focused on social networking software. Prior to Urbanite, he was a principal at Volpe Brown Whelan, where he co-led a ten person team that provided investment banking services to emerging growth companies in the healthcare technology and healthcare services sectors. Rodd began his business career as an investment banker in the technology group at Alex Brown & Sons.

Edwin Goodman, co-founder of Milestone said, We feel extremely fortunate that Morgan became available at such a propitious time from Milestones perspective. His demonstrated track record is admirable and his experience will mesh well with Milestone investment activities and inclinations.

General Partner and co-founder Todd Pietri added, Morgan fits in well with Milestones value-oriented approach to venture investing. In addition, he is very well-versed in several investment areas which appeal to us while also adding expertise in security software and a range of valuable West Coast venture community relationships.

In addition to Messrs. Goodman and Pietri, Rodd joins veteran VC and General Partner Richard Dumler at the firm. This groups successful investments include Apple (Nasdaq: AAPL – News), Actmedia, Kronos (Nasdaq: KRON – News), Staples (Nasdaq: SPLS – News), Sungard Data Systems, Medidata Solutions, CareGain (successfully sold to Fiserv Health) and Premise (successfully sold to Eclipsys). Mr. Rodd holds a BA in history from Wesleyan College, and an MBA in finance from the Wharton School of the University of Pennsylvania.

About Milestone Venture Partners

Milestone Venture Partners, located in New York City, is an early-stage venture capital fund with $70 million under management. Milestones investment strategy is focused on capital-efficient, technology-enhanced services businesses in the Greater New York region. Areas of expertise include media, marketing services, healthcare IT, and financial services IT.

For more information, call (212) 223-7400, visit www.milestonevp.com or write to Milestone Venture Partners, 551 Madison Avenue, 7th Floor, New York, NY 10022.

Source: Milestone Venture Partners

Wavesat Closes Significant $11.7M Round of Funding

Top Tier VCs Recognize Wavesats Leadership in Multi-Protocol 4G Silicon

SUNNYVALE, Calif. Wavesat Inc., a leading supplier of Broadband Wireless semiconductor solutions, announced today the Company has secured its latest round of funding, raising $11.7 million CAD. Existing investors led by BDR Capital, BDC Capital and Multiple Capital participated in the round. Proceeds will be used to further strengthen the Companys leadership position in the 4G Broadband market.

Introduced in May 2008, Wavesats unique Odyssey 4G multi-protocol architecture has been gaining wide-spread acceptance. Wavesat delivers silicon that enables customers to deploy multiple Broadband Wireless technologies such as WiMAX Wave2 and XG-PHS today and to migrate seamlessly to future 4G technologies such as LTE. In recent months, Wavesat announced that Compal, a leading ODM for handheld devices, selected the Odyssey for mobile WiMAX USB dongles. Also, Willcom, a large wireless network operator in Japan, has chosen Wavesat to help develop XG-PHS services and equipment in that country.

We are impressed by the great strides the company has made since the introduction of the Odyssey chipset and how they are executing and adapting their 4G strategy in this challenging environment, said Jean Bdard, Managing Partner, BDR Capital. The Odyssey architecture and product roadmap is right for the times, providing real world benefits to many customers in multiple markets and multiple geographies.

Later this month, Wavesat will be presenting its Odyssey portfolio of 4G Broadband products at Mobile World Congress in Barcelona, Spain.

About Wavesat

Wavesat is a global leader in mobile broadband, providing advanced semiconductor solutions to the worlds leading carrier and mobile device manufacturers to deploy future-proof broadband services and products. With award winning technology, Wavesat delivers silicon that enables customers to deploy multiple Broadband Wireless technologies such as WiMAX Wave2 and XG-PHS today and to migrate seamlessly to future 4G technologies such as LTE. Wavesat was awarded the 2008 Frost and Sullivan Mobile Broadband Wireless Access Excellence in Technology Award and was recognized as one of Canadas Top Ten Technology companies for 2009. Wavesat is a principal member of the WiMAX Forum. For more information, please visit www.wavesat.com.

Copyright 2009 Wavesat All rights reserved. Information subject to change without notice.M

Wavesat, Odyssey and Odyssey Broadband Everywhere are trademarks of Wavesat Inc. */ registered by Wavesat Inc. in the U.S. WiMAX, WiMAX Forum and WiMAX Forum Certified are trademarks of the WiMAX Forum. All other trademarks are the properties of their respective owners.

Source: Wavesat Inc.

Pano Logic Extends Series B Funding to $18 Million

Leading Desktop Virtualization Company Continues Momentum Into 2009 With a Series B Extension Led by Foundation Capital and Goldman Sachs

MENLO PARK, Calif. Pano Logic, the leader in server-based virtual desktop computing, today announced it has closed an extension to its Series B round of $6 million led by Foundation Capital and Goldman Sachs. This funding brings the total Series B financing to $18 million, and completes a year of phenomenal expansion for Pano Logic, which experienced quarter-over-quarter growth and has received extensive industry recognition since bringing its first product to market in late 2007.

Its been a record year for Pano Logic and weve achieved many key milestones. This new financing round enables us to expand the company to accommodate market demand, and continue to enhance our comprehensive VDI solution, said John Kish, president and CEO of Pano Logic. Since joining the company late last year, Ive been impressed by the product and market opportunities. Our goal continues to be to deliver a turn key solution that provides the fastest and easiest route to deploying a virtual desktop infrastructure.

Over the course of 2008, Pano Logic has significantly increased its install base and signed more than 150 partners including one of the leading distributors, Avnet. Additionally, the Pano Virtual Desktop Solution received a SearchServerVirtualization.com Product of the Year award, the red dot 2008, and Good Design 2008 product design awards. Pano Logic was also named a finalist for the 2008 Red Herring North America 100 Awards, which recognizes startups that will lead the next wave of disruption and innovation.

As businesses look for new ways to leverage their existing virtualization infrastructure and decrease the costs of desktop PCs, desktop virtualization will continue to emerge as a go-to technology, said Pete Perrone, managing director at Goldman Sachs. Pano Logic demonstrated quarter-over-quarter growth throughout 2008, and we believe the companys opportunities will only continue to expand as more businesses look for easy ways to deploy VDI.

Once we virtualized the servers, consistency was created within the data center, allowing us to turn our attention to the workstations to begin looking for ways to proactively solve our desktop challenges regarding management, security and power, said Kunal Patel, IT director at Nina Plastics. Since Pano VDS is a zero client, we just plugged it in and it worked right out of the box. With the Pano Manager and the VMware management features, the solution didnt need a lot of configuration and it took around 10 minutes to get up and running. The Pano Logic concept was very simple, so we quickly saw how Pano VDS could replace our other existing desktops.

About Pano Virtual Desktop Solution

The Pano Virtual Desktop Solution includes the hardware clients and software components required to turn standard virtual infrastructure into a purpose-built virtual desktop solution. The key components of the solution are the:

• Pano Device Designed by an award-winning industrial design firm, the Pano device is a zero client no memory, no operating system, no drivers, no software and no moving parts. The Pano device connects keyboard, mouse, display, audio and USB peripherals over an existing IP network to an instance of Windows running on a virtualized server. Pano is power friendly, consuming only 3% of the energy consumed by a traditional desktop computer.
• Pano Management Server A centralized service and web-based management interface which enables administrators to manage the entire virtual desktop installation by integrating with existing directory services and virtual infrastructure managers.
• Pano Desktop Service A lightweight service residing within each desktop virtual machine links peripherals attached to the Pano to the unmodified Windows drivers residing in the virtual machine. This design guarantees that all existing Windows drivers will work without modification.

About Pano Logic

Founded in 2006, Pano Logic develops virtualization-based software and hardware solutions that deliver superior desktop computing. The company is privately held, and backed by leading investment firms Foundation Capital and Goldman Sachs. Pano Logic is headquartered in Menlo Park, California. For more information about Pano Logic, visit www.panologic.com.

Source: Pano Logic

Record Year for US Cleantech Investments with $4.7 Billion Raised from Venture Capital in 2008

Innovation, clean energy demand and positive legislative outlook sustain cleantech investing through challenging economy

SAN FRANCISCO, Feb. 3 Venture capital investments in cleantech reached record levels in 2008 with $4.7 billion raised in 186 financing rounds — a 68% increase in annual capital invested and a 5% increase in annual financing activity, according to an Ernst & Young LLP analysis based on data from Dow Jones Venture Source. Cleantech companies received $954 million from venture capitalists in Q4 2008, significantly surpassing the $681 million invested in Q4 2007, but lagging behind the record $1.7 billion invested in Q3 2008.

In 2008, the top four cleantech segments — Electricity/Electricity Generation, Alternative Fuels, Energy Efficiency and Energy Storage — experienced strong growth compared to 2007. Energy/Electricity Generation raised $2.7 billion in 2008, increasing 215%. The Alternative Fuels segment grew 50% to $703 million. Energy Efficiency raised $427 million, growing 6%, and Energy Storage raised $320 million, increasing 9%.

The amount of venture capital committed to cleantech in 2008 represents an investment milestone. Since 2002, when US cleantech companies raised an annual total of $234 million in venture capital, investment in the cleantech market has increased at a compound annual growth rate of 65% to reach the $4.7 billion invested in 2008. The annual number of cleantech companies securing venture financing has also grown significantly. In 2002, 43 cleantech companies raised venture capital. In 2008, 171 cleantech companies raised venture capital.

“Investments made this past quarter suggest that investors are considering industry drivers that will propel cleantech companies long after the current financial crisis recedes,” says Joseph Muscat, Americas Director of Cleantech, Ernst & Young LLP. “Investors and corporate executives alike continue to focus on growing operations to respond to opportunities created by growth in global energy consumption, corporate climate change initiatives, and governmental developments.”

Led by solar companies, the Energy/Electricity Generation segment again received the largest amount of VC investment with $539 million in Q4 2008, representing 57% of total capital invested. Solar investments alone raised $444 million in Q4. Three of the top five deals for all of Q4 were California-based solar companies. The largest of these was completed by Solyndra, a company that designs and manufactures photovoltaic systems in Fremont, CA, that raised $219 million.

The Alternative Fuels segment attained the second largest investment in Q4 2008 with $236 million, representing 25% of total capital invested. Biofuels raised the largest amount in this segment with $140 million. The natural gas sub-segment raised $96 million. LUCA Technologies, a biotech company that identifies new methods for creating natural gas in Golden, CO, raised $76 million, the largest deal in the natural gas sub-segment and the second largest deal overall in Q4.

Energy Efficiency was the third largest investment category, raising $68 million in Q4 2008, or 7% of total capital invested, driven by power and efficiency management services. Ice Energy, a developer of energy storage and refrigeration technologies in Windsor, CO, had the largest energy efficiency deal, raising $33 million in a third round financing.

The 2008 results also reflect the continuing trend toward a larger proportion of later stage investments as a substantial number of cleantech companies, particularly in the solar sector, reach the pilot project and commercialization stage of development. Later stage deals in 2008 accounted for 31% of the deals and 51% of the amount raised. In comparison, later stage deals accounted for only 21% of deals and 34% of amount raised in 2007.

In keeping with a trend observed in prior quarters, six of the 10 largest deals in Q4 2008 included first-time participation by private equity funds, illustrating how cleantech companies are pairing venture capital with other funding sources as they move into the capital-intensive commercialization phase.

Q4 2008 cleantech market drivers and related developments

The new Obama Administration’s robust climate change agenda and economic stimulus bill are generating optimism in the cleantech community and contributing to the long-term drivers in the sector. One key policy element is a commitment to invest $15 billion a year over the next decade in renewable energy. If enacted, this proposal is expected to create five million jobs, a majority of which will be in the cleantech market. The renewable energy and energy efficiency industries already represent more than 9 million jobs and $1 trillion in US revenues, according to a report published by the American Solar Energy Society.

The economic stimulus bill currently under consideration by Congress also contains a number of tax provisions designed to spur investments in renewable energy, efficiency and other areas of cleantech. “The proposed provisions, which will accelerate the ability to utilize production tax credits, extend existing ones, and include an enhanced research and development credit, will be just the beginning of a very active year for climate change legislation,” explained Steve Starbuck, Ernst & Young’s Americas Tax leader for Climate Change and Sustainability Services.

Corporations continue to look to cleantech as a source of innovation. According to Ernst & Young’s report, “Climate Change: The automotive industry’s 100-year storm,” cleantech is a key enabler to the automotive industry’s response to climate change, a transformation that crosses the sector’s entire value stream. Additionally, Ernst & Young’s Corporate Venture Capital Survey 2008-09, revealed that 44% of respondent corporate venturing programs intend to increase their cleantech investments in the next five years.

Alternative energy merger & acquisition activity also continues to support market activity. Overall in 2008, there were 101 US deals tracked with reported transactional values of $2.3 billion, according to J.S. Herold. In Q4, 15 US deals took place with a total reported value of $399 million.

Note to editors:

Ernst & Young uses the following definitions to classify the cleantech industry and its sub-sectors:

Clean technology encompasses a diverse range of innovative products and services that optimize the use of natural resources or reduce the negative environmental impact of their use while creating value by lowering costs, improving efficiency, or providing superior performance.

• Alternative Fuels – Biofuels; natural gas (LNG)
• Energy / Electricity Generation – Gasification, tidal/wave, hydrogen, geothermal, solar, wind, hydro
• Energy Storage – Batteries, fuel cells, flywheels
• Energy Efficiency – Energy efficiency products, power and efficiency management services, industrial products
• Water – Treatment processes, conservation & monitoring
• Environment – Air, recycling, waste
• Industry Focused Products and Services – Agriculture, construction, transportation, materials, consumer products

About Ernst & Young’s Strategic Growth Markets Network

Ernst & Young’s worldwide Strategic Growth Markets Network is dedicated to serving the changing needs of rapid-growth companies. For more than 30 years, we’ve helped many of the world’s most dynamic and ambitious companies grow into market leaders. Whether working with international mid-cap companies or early stage venture-backed businesses, our professionals draw upon their extensive experience, insight and global resources to help your business achieve its potential. It’s how Ernst & Young makes a difference.

About Ernst & Young

Ernst & Y
oung is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 135,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.

For more information, please visit www.ey.com.

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity.

This news release has been issued by Ernst & Young LLP, a member firm of Ernst & Young Global Limited.

Source: Ernst & Young LLP

SkyCross Secures $23 Million in New Investment, Capping Record Growth Year

VIERA, Fla. SkyCross, a global antenna solutions company, announced today that it has secured $23 million in financing led by Investor Growth Capital. The investment caps highly successful 2008 results for SkyCross, which reported 65 percent year-over-year revenue growth. The investment will fuel further expansion as SkyCross continues to broaden its geographic reach, gain additional worldwide Tier 1 customers, and enter new market segments.

SkyCross currently serves a range of market segments including handsets, data cards, USB dongles, laptops, access points, mobile personal entertainment devices, and more. This comprehensive antenna portfolio bundles high performance, small size, and competitive pricing to support any combination of protocols including GSM, CDMA, HSPA, 802.11a/g/b/n, WiMAX, LTE, etc.

The companys performance in 2008 is the latest in a four-year span that has produced over 50 percent growth annually. In early 2008, SkyCross announced iMAT technology, a disruptive innovation that consolidates the performance benefits of multiple antennas into a single low-cost antenna. Following this breakthrough, SkyCross received several prestigious industry awards: Fierce15, Portable Design Editors Choice Innovation of the Year, EE Times Most Promising Technology Finalist, and Nollenberger Capital privately held technology company with compelling and innovative solutions.

SkyCross consistently provides antennas for pioneering and bestselling devices throughout Asia and the United States. At CES earlier this month, Samsung introduced its Haptic and Omnia touch screen smartphone models; each contains multiple SkyCross antennas for voice, Internet, mobile video, and more. Last year, the first USB device certified by the WiMAX Forum was powered by an iMAT antenna to support global WiMAX frequencies and WiFi. SkyCross also provided antennas for the only ExpressCard offered by Sprint XOHM for its first WiMAX launch in the United States. The Samsung Blackjack II, which Consumer Reports recently named as the best smartphone of 2008, and the Samsung Juke topped sales rankings; SkyCross antennas enable wireless connectivity for both devices.

SkyCross has consistently produced rapid revenue growth, game-changing technical innovation, and important Tier 1 customer wins, said Dr. Albert Kim, Vice President at Investor Growth Capital. The ability of SkyCross to enable sleek, high performance devices at far lower cost sets the company apart from the competition. We look forward to working with SkyCross.

Investor Growth Capital is a highly respected player in our industry, and we are pleased to have the firm aboard, said Dr. Chris Morton, CEO of SkyCross. We are fortunate to have such a strong set of investors and are particularly proud to have secured this investment in the current economic environment.

Investor Growth Capital is the wholly owned venture capital arm of Investor AB, which is publicly traded on the Stockholm exchange and is the largest listed industrial holding company in Northern Europe. The company was founded in 1916 to continue the Wallenberg family’s tradition of financing and building best-in-class companies. Investor Growth Capital joins a strong team of SkyCross investors including TL Ventures, Gabriel Venture Partners, Intel Capital, SK Telecom, BAE Systems, MILCOM, and Investment Partners of Orlando. Dr. Kim of Investor Growth Capital has joined the board of directors at SkyCross.

About SkyCross

SkyCross (www.skycross.com) is a global wireless company providing antenna-centric RF solutions to the mobile phone, home entertainment, and computing industries. SkyCross provides high-performance, frequency-agile, protocol-independent antenna technology bundled with RF system-level expertise and responsive regional support. This convenient approach empowers device manufacturers to develop winning consumer electronics products and deliver them to market faster and easier. Founded in 2000, SkyCross is ISO 9001 certified and supports customers from its full-service facilities in the USA, South Korea, and China.

Source: SkyCross

SocialMedia Networks Inc. Attracts Series B Funding Led by IDG Ventures SF and Co-Investor Charles River Ventures

SocialMedia to Use Financing to Expand Sales team in Chicago, NY and Internationally. Emphasis will be placed on Corporate Partnerships After Record Year Profits.

SAN FRANCISCO, Jan. 30 SocialMedia Networks, the largest independent social media advertising network, delivering ads within 5,000+ applications running on Facebook, Bebo, Hi5 and MySpace, today announced that it has secured Series B financing of $6 million. The investment was led by IDG Ventures SF with co-investment from Charles River Ventures.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080429/AQTU109LOGO)

SocialMedia Networks provides an independent social media advertising network. Their primary product is Word-of-Mouth ads, which are sold to brand advertisers. These ads are shown within a social network like Facebook, MySpace or Twitter to the friends of the user who engages with branded content. In the majority of the cases, the process starts when a consumer interacts with an opt-in banner (where they answer a question, fill out a poll, etc.) the results of their interactions are then delivered to their friends through the Word of mouth ad.

“We have followed SocialMedia for months as it has become the leader in how social networks are monetized,” said Alex Rosen, Managing Director at IDG Ventures SF. “We are excited to become investors in SocialMedia, and are looking forward to applying our media business expertise towards building out its sales and increasing its partnership activity.”

“Our new product really resonated with brand advertisers leaving us with record profits and the ability to take on less growth capital,” said Seth Goldstein, CEO and co-founder of SocialMedia Networks. “We are in a great position to now work on corporate partnerships and grow our sales team and are thrilled to have IDG Ventures SF as a financial partner in our business”

SocialMedia Networks raised initial venture investment through the Charles River Ventures QuickStart program, a seed funding program that allowed SocialMedia Networks to prototype its idea and test the market potential prior to series A financing.

About SocialMedia.com

SocialMedia.com is the largest independent social media advertising network, delivering ads within 5,000+ applications running on Facebook, Bebo, Hi5 and Myspace. The company has created the SocialMedia Advertising platform, enabling advertisers to buy positive “word of mouth” about their products and brands while reaching over 25M monthly unique users through its network.

Web Site: http://www.socialmedia.com

About IDG Ventures SF

IDG Ventures SF is an early-stage venture capital firm investing in New Media and IT companies in the US. The fund is part of IDG Ventures, a global network of technology venture funds with over $2 billion under management and 10 offices across Asia and North America. The fund works closely with International Data Group (IDG), the world’s largest IT media company. By combining the IDG platform – an unparalleled combination of global publishing, market research (IDC), and conferences and exhibition resources – with years of hands-on experience in early-stage company building, IDG Ventures helps its portfolio companies understand their markets better and penetrate them faster than their competition. Leading technology companies that IDG has invested in include Netscape, Excite, Infoseek, Epiphany, F5 Networks, BabyCenter, Service Metrics, and Spinner.com in North America and Vinagames, Ctrip and Baidu in Asia.

Web Site: http://www.idgvsf.com

Source: SocialMedia.com

Diagnosoft(R) Secures $4 Million in Financing and Appoints a New President and CEO

MORRISVILLE, N.C. and PALO ALTO, Calif., Jan. 29 Diagnosoft, Inc., an innovator in magnetic resonance (MR) image analysis software that assists in diagnosis, staging and therapeutic monitoring of cardiovascular disease, has announced the closing of $4 million in Series B financing led by Technology Development Fund (TDF) of Cairo, Egypt. The company intends to use the new capital to support further market expansion of Diagnosoft HARP(TM), Diagnosoft PLUS, and Diagnosoft SENC. The capital infusion will also serve to further the development of other innovative MR image analysis technologies designed to increase physician productivity and accuracy, improve patient outcomes, and enhance research and drug development advances.

“When cardiologists and radiologists can make a decision about the condition of a patient’s heart based on quantitative data obtained from cardiac MRI analysis, rather than just ‘eyeballing’ images,” said Diagnosoft Co-Founder Dr. Matthias Stuber, “they can come to a faster conclusion that’s substantiated, not subjective. When diagnosis and treatment is supported by the numerical data our software provides, it’s stronger from a legal standpoint as well.”

According to Dr. Jerry Prince, Diagnosoft co-founder and colleague of Dr. Stuber at Johns Hopkins University, “There are many techniques for analyzing the left ventricle of the heart — ECHO, nuclear medicine, CT, and so — but we are focused on the emerging technology of MRI for the cardiac market. We are kind of a one-stop shop for innovative analysis of the four magnetic resonance imaging techniques — CINE, perfusion, delayed enhancement or viability, and function or strain. Diagnosoft is the only company directly looking at function, to see if the heart muscle is contracting properly; consequently, we are the only ones who can put all four imaging techniques together, and present it to the clinician in a single view.”

This unique capability made investment in Diagnosoft an attractive endeavor for TDF. “It seems we are in the midst of a renaissance for cardiovascular MRI. It’s amazing how much interest there is in the market — it’s a very good time to be in the market, and we believe Diagnosoft is clearly on the leading edge,” said Ahmad Gomaa, fund manager for TDF.

As Dr. Stuber explained, “As cardiovascular medicine grows, it is moving away from being purely reactive — in other words, once you have an infarct, you start treating it. I believe people with certain known risk factors will undergo cardiovascular testing earlier. Quantitative analysis of myocardial motion will be a crucial factor in being more proactive and informed in risk assessment and early management for heart disease.”

To continue Diagnosoft’s commitment to cardiovascular imaging advances, the company’s board of directors has appointed Firas BenAchour president and CEO of Diagnosoft and a member of the board. With 20 years of healthcare information technology experience, BenAchour will work closely with the executive team to expand and solidify Diagnosoft’s position in the marketplace. He started his career in business development, sales and marketing, and quickly moved into executive management. His carrier spans large, small as well as startup companies including HBOC and Per-Se Technologies (both acquired by McKesson), CareFusion (acquired by Cardinal Health), and CareSystems.

“I am delighted to be appointed president and CEO of Diagnosoft, and I am very excited about the opportunities and the growth potential of our company,” BenAchour said. “Since joining Diagnosoft, my principal focus has been to establish our growth strategy for the benefit of our clients, employees and investors. We are currently focusing on organizing our client services efforts, establishing our sales and business development processes, solidifying our brand and continuing to make improvement to the quality, usability and reliability of our software solutions.”

About Diagnosoft

Diagnosoft, Inc., based in North Carolina and California, is a privately held company specializing in image analysis software that assists in diagnosis, staging and therapeutic monitoring of cardiovascular disease. One of its products, Diagnosoft HARP(TM), is distinguished as the first FDA 510k- cleared software designed for the analysis of tagged magnetic resonance images. The company is focused on improving physician workflow, quantifying decision-making, and enhancing research and drug development advances.

Company founders Dr. Nael Osman and Dr. Jerry Prince, developed HARP technology at Johns Hopkins University (JHU), where they are faculty members. Dr. Matthias Stuber, a company founder who is also on the JHU faculty, brings additional insight and imaging expertise to Diagnosoft. More information about the company’s three MRI analysis software products, Diagnosoft HARP(TM), Diagnosoft Plus and Diagnosoft SENC, is available at http://www.diagnosoft.com.

About Technology Development Fund

The Technology Development Fund, http://www.techdevfund.com, is the first technology venture capital fund in the ME. Established in 2004, its current capital base is $50 million. The Fund aims to propel the growth of innovative, startup and early stage companies in the field of information technology. The Fund is managed by one of the leading investment banks in the MENA region, Efg-Hermes, http://www.efg-hermes.com, through its subsidiary Ideavelopers, http://www.ideavelopers.com.

Diagnosoft is a registered trademark of Diagnosoft, Inc. HARP is a registered trademark of Johns Hopkins University. Diagnosoft, Inc. disclaims any proprietary interest in the marks and names of others.

Except for the historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties.

Source: Diagnosoft, Inc.

Atlas Venture Closes $283 Million Fund VIII

Promotes Bruce Booth to Partner; Invests in CloudSwitch

BOSTON & LONDON Atlas Venture, an early-stage international venture capital firm, has closed its eighth fund at $283M. Atlas Venture VIII will continue the firms proven strategy of funding early-stage technology and life sciences start-ups in the US and Europe. Atlas Venture remains focused on partnering with talented entrepreneurs at the founding stage to build companies from the ground up based on compelling innovation.

The new fund is the right size for our early-stage focus and organizational structure, said Jean-Francois Formela, partner at Atlas Venture. We feel fortunate to have a fresh pool of capital to invest at a time when we see steady innovation coupled with a return to capital efficiency. This is a good environment in which to fund new companies.

With the launch of Atlas Venture VIII, the firm has promoted Bruce Booth to Partner in the life sciences group. Bruce joined Atlas Venture in 2005 and has helped form several portfolio companies. He currently sits on the Boards of Ivrea and Zafgen, and is chairman and co-founder of Miragen.

Investors in Atlas Venture VIII include existing limited partners, such as Kisco Management, The Kresge Foundation and Paul Capital; and new limited partners, including Franklin Park, Industriens Pensionsforsikring A/S and Meketa Investment Group.

We are pleased with our investment in Atlas Venture VII, an internationally diverse portfolio of innovative technology and life sciences companies. The fund has shown strong early performance and continued momentum, said David York, managing director at Paul Capital. We remain excited about the team and its early-stage focus, and look forward to our continued partnership in Atlas Venture VIII.

The first investment in Atlas Venture VIII was made in CloudSwitch, a technology start-up currently in stealth mode. The companys unique solution will enable enterprises to take advantage of cloud computing. CloudSwitch was founded by entrepreneurs Ellen Rubin, formerly of Netezza, and John Considine, formerly of Pirus Networks (acquired by Sun Microsystems). Atlas Venture co-led the $7.4M investment.

About Atlas Venture

Atlas Venture is a leading early-stage international venture capital firm that invests in technology and life sciences businesses in the US and Europe. Since inception in 1980, its partners have helped build over 350 companies in more than 16 different countries. In the past decade, 44 portfolio companies have been acquired and 47 are now public companies with an aggregate market capitalization of over $15 billion. Atlas Venture manages over $2.5 billion in capital through offices in Boston and London. For more information, visit www.atlasventure.com.

Source: Atlas Venture

The Foundry Announces New Partners and Completion of Series A Financing for Eleventh Company

Erik Engelson and Jeff Grainger Join Leading Medical Device Company Incubator

MENLO PARK, Calif., Jan. 28 The Foundry, LLC, a leading medical device company incubator, announced today that it has completed a $5M Series A financing for its eleventh new company, led by Morgenthaler Ventures and Split Rock Partners, and added two new Managing Partners, Erik T. Engelson and Jeffry J. Grainger. Both of the new partners have extensive experience in the formation and growth of successful medical device companies. They join existing Managing Partners Hanson S. Gifford, III, Mark Deem and Kara Liebig.

Mr. Engelson joined The Foundry from Cierra where he served as President and CEO. Mr. Engelson previously served as the Chief Financial Officer of Fluidigm Corporation, as a Venture Partner at Versant Ventures and as an Entrepreneur-in-Residence at Institutional Venture Partners. Previously, Mr. Engelson spent 13 years in various operating roles at Target Therapeutics where he led the early start-up into the field of Interventional Neuroradiology, participated in the IPO roadshow and eventually became its General Manager following its acquisition by Boston Scientific Corporation. Mr. Engelson began his medical device career as a Product Development Engineer for Advanced Cardiovascular Systems. He is the inventor of many medical device patents and is the recipient of the 1998 Inventor of the Year Award from the Silicon Valley Intellectual Property Law Association. Mr. Engelson currently serves on the Board of Directors of Concentric Medical and Primaeva Medical, and is a co-founder of FlowCardia. Mr. Engelson holds B.A. and M.S. degrees in Microbiology and Bioengineering, both from the University of California, San Diego. He has also completed the Stanford Executive Program and is a Trustee of the U.C. San Diego Foundation.

Mr. Grainger joined The Foundry from Xtent, Inc., a developer of drug- eluting stent systems, where he served as Vice President of Corporate Affairs and General Counsel since 2003. Prior to that, Mr. Grainger was the Founder, Chief Strategy Officer, and member of the Board of Directors of First to File, Inc., a developer of software and services for automating patent process workflow which was acquired by Mark Monitor. From 1993-2000, Mr. Grainger served as Chief Patent Counsel of Heartport, Inc., a developer of devices for minimally-invasive heart surgery which was acquired by Johnson & Johnson. From 1991-1993, Mr. Grainger was an attorney at the law firm of Townsend & Townsend & Crew. Prior to entering law school, Mr. Grainger worked as a Robotics Engineer at Boeing Electronics Company. Mr. Grainger holds a Juris Doctor degree with Honors from the University of Washington and a BS in Mechanical Engineering from Stanford University.

“We are extremely pleased to add Erik and Jeff to The Foundry team,” said Mr. Gifford. “With the closing of this financing and our enhanced team, we are poised to break exciting new ground with our eleventh company.” Foundry Newco XI is currently not disclosing its product or market plans. The $5 M Series A financing will provide the resources to continue inventing, developing and commercializing breakthrough solutions to major unmet medical needs. Split Rock Partners and Morgenthaler Ventures co-led the Series A financing. Allan Will, founding Managing Director of Split Rock Venture Partners, will continue as chairman of The Foundry, and Hank Plain, Partner of Morgenthaler Ventures, will continue to serve as Vice Chairman.

About The Foundry

The Foundry was co-founded in 1998 by Allan Will and Hanson Gifford, to rapidly turn the best concepts into successful new medical device companies. In addition to inventing new technologies itself, The Foundry works closely with outside clinicians and inventors with promising ideas. Over the past ten years, The Foundry has formed over a dozen new companies, including Ardian, Cabochon Aesthetics, Cierra (acquired by Terumo), Concentric Medical, Emphasys Medical, Evalve, First to File (acquired by Mark Monitor), ForSight Labs, ForSight Vision 2 (acquired by QLT), Miramar Labs, Satiety, Transcend Medical and Xtent. The Foundry, LLC is located in Menlo Park, California. For more information, visit the company’s website at http://www.thefoundry.com.

About Morgenthaler Ventures

Morgenthaler Ventures is a leading, national venture capital team with offices in Menlo Park, CA; Boston, MA; and Boulder, CO. It concentrates its investments in life sciences and information technology. Morgenthaler’s Life Science Team focuses on biotechnology and medical devices. Recent investments include: Ardian, Avidia, Cabochon, CardioMind, Catalyst Biosciences, Emphasys, ForSight Labs, IPC The Hospitalist Company, Morphotek, Moximed, OncoMed Pharmaceuticals, Optiscan, Orexigen, Promedior, Satiety, Vertiflex and XTENT. The firm has approximately $3 billion under management and has funded more than 300 companies over its 40-year history. For more information on Morgenthaler and its portfolio companies, please visit: http://www.morgenthaler.com/ventures.

About Split Rock Partners

Split Rock Partners, with offices in Minneapolis and Menlo Park, seeks emerging opportunities in healthcare, software, and Internet services primarily in the Upper Midwest and West Coast. In May 2008, the firm announced the closing of Split Rock Partners II, LP, a $300 million venture fund. Split Rock Partners was formed in June 2004 by the healthcare and software investment teams of St. Paul Venture Capital and continues to manage St. Paul Venture Capital’s existing healthcare and software portfolio. Representative healthcare companies backed by Split Rock’s team include industry leaders such as Atritech, Disc Dynamics, EBR, Entellus Medical, Evalve, The Foundry, Spine-Tech and Tornier. Additional information about the firm can be found at http://www.splitrock.com.

Source: Split Rock Partners

Norwest Venture Partners Invests $4.2 Million in Appnomic Systems

NVP Managing Partner Promod Haque Backs Leading Infrastructure Management Services (IMS) Company in India

PALO ALTO, Calif. & BANGALORE, India Appnomic Systems, a leading infrastructure management services (IMS) company (formerly Vitage Technologies), announced today that it has secured $4.2 million from Norwest Venture Partners (NVP), a leading global venture capital firm. Appnomic Systems, headquartered in Bangalore, India, with operations in India, Middle East and Africa, will use this funding to strengthen its existing market presence, expand into the U.S. market and further build out its innovative product and service offerings. As part of the investment, Promod Haque, Managing Partner, NVP, will join Appnomics board of directors. This NVP-led investment is the first institutional round of funding for Appnomic, and NVPs third major investment in the rapidly growing next-generation services sector in India.

The managed services market is already a mature industry, however the offshoring of infrastructure management services (IMS) to India is still in its infancy. The market opportunity for IMS in India is predicted to be as large as the application development and maintenance (ADM) sector, and it is regarded as the third wave of outsourcing (after ADM and BPO/KPO), said Promod Haque, NVP. The growing pressure on corporations to better handle the complex IT requirements demanded by internal and external regulators is accelerating the need for simplification and efficient management of IT at a low cost, and we believe that 70 to 75 percent of infrastructure management opportunities can be offshored. Appnomic has the next generation technology, proven customer traction and seasoned team necessary to capitalize on this growing market need.

Appnomic simplifies the complexities of managing information technology (IT) by offering large and mid-size companies with highly automated technology, intelligent analysis and process methods. Appnomics unique delivery model, including application performance management and service delivery automation, enables companies to be more efficient and enhance productivity by more than 30% over current solutions in the marketplace.

The demand for highly automated, infrastructure management services (IMS) is on the rise, and the timing of this financing couldnt be better as we expand our company and offerings and address this rapidly expanding market, said D Padmanabhan, MD & CEO of Appnomic Systems. We are extremely pleased with the demand we are seeing to date from enterprise customers, and with this funding, we are well positioned to serve our growing customer base with even more next-generation offerings. We see the customer requirement moving to just accessing a business service, while the entire ecosystem of application, IT systems, IT operations & management and business process services is being offered on a hosted model.

Appnomics Offerings and Customer Traction

Appnomics patent-pending application management services platform provides mid to large size corporations with end-to-end analysis of the application load, response and infrastructure behavior in production and pre-production environments. This innovative approach simplifies the complexities involved in managing the performance of a heterogeneous application environment by using automated intelligent analysis. One of the largest portals in India, a leading bank, top real estate companies and many other global companies have already benefited from embracing Appnomics platform to solve these critical and growing IT challenges.

“Appnomics next-generation technology and service offerings combined with its significant enterprise customer traction to date made this investment an easy decision for us. We believe India must offer high-value, high-impact differentiated services that require deep domain expertise and provide significant barriers to entry. Infrastructure management services, is an example of a growing category in this area, and we believe Appnomic is addressing the market at a critical time and is poised for tremendous growth, Haque added.

We are pleased to work with such a quality global investor as NVP. Their focus and understanding of the infrastructure and application management services space, combined with Promods and the entire teams network of strategic business relationships will be of great value to us as we grow our company. We look forward to working with NVP to take Appnomic to the next level, said P Rangarajan, COO of Appnomic.

About Appnomic Systems

Appnomic Systems is a leading infrastructure management services (IMS) company in India that provides Application Performance Management, Remote Infrastructure Management and IT Assessment to effectively manage IT assets of large and medium scale enterprises. Appnomics unique service delivery model includes a patent pending technology for application performance management and process tool for Service Delivery automation. These enable customers to manage their IT infrastructure efficiently while enhancing productivity. For more information visit: www.appnomic.com

About Norwest Venture Partners (NVP)

Norwest Venture Partners (NVP) is a global venture capital firm that has actively partnered with entrepreneurs to build great businesses for more than 47 years. NVP focuses on investments in information technology including: software, services, enterprise and communications systems, semiconductor/components and Internet, media and consumer. The firm currently manages more than $2.5 billion in venture capital. It has offices in Palo Alto, California, Mumbai and Bangalore. Managing Partner Promod Haque has been ranked as a top dealmaker on the annual Forbes Midas List for the past eight years. In 2004, Forbes named him as the #1 venture capitalist worldwide based on performance over the last decade.

NVP has funded over 450 companies in the U.S. since inception, as well as several direct investments in India and more than 20 cross border companies. Some of the firms recent investments and transactions include Adventity, Airespace (acquired by Cisco Systems), deCarta, KACE, mBlox, Omneon, Open-Silicon (acquired by Unicorn Investment Bank), Persistent Systems, Rackspace (NYSE:RAX – News), Resonext Communications (acquired by RF Micro Devices), SideStep (acquired by Kayak), Spinnaker Networks (acquired by Network Appliance), Sulekha, Winphoria Networks (acquired by Motorola), Yatra, and Yipes (acquired by Reliance/Flag Telecom). NVP has also funded such market leaders as Actel Corporation, Cerent (acquired by Cisco Systems), Documentum, Extreme Networks, Forte Software (acquired by Sun Microsystems), PeopleSoft and Tivoli Systems (acquired by IBM). For more information, please visit www.nvp.com

All brands, names, or trademarks mentioned in this document are the property of their respective owners.

Source: Norwest Venture Partners

Sittercity.com, the Inventor of Online Care, Receives Substantial Financing

What started as parent-sitter matchmaking has become the nation’s leading online source for in-home care

CHICAGO, Jan. 28 Sittercity.com, America’s first and largest online caregiving network, announced today that it has closed $7.5 million in equity financing. The round was co-led by Point Judith Capital and Apex Venture Partners, and included management and previous investors.

Over the last seven years, Sittercity has won 12 national awards, made more than 1,000 appearances in the media — including Ellen, The View, Today Show, The Early Show and Good Morning America — and was recently number 287 on INC Magazine’s list of the 500 fastest growing companies in America.

“Sittercity has established itself as the clear leader in the field,” said Genevieve Thiers, Sittercity’s founder and CEO. “Back in 2001 when we launched, many people were highly skeptical that anyone would ever go online to find in-home care. Today, with more than a million caregiver profiles nationwide, more than 100,000 care seeker profiles and 25 of the country’s most admired corporations using our service, we’ve not only established online as a viable place for finding care but also solidified Sittercity is the definitive leader in this growing field.”

As part of the financing, Sittercity.com named three new members to the Company’s Board of Directors, including Sean Marsh, General Partner of Point Judith Capital, Lon Chow, General Partner of Apex Venture Partners and Martin Clifford, CEO of Wis.dm and former COO of Udate.com. Lee Hower, Principal of Point Judith Capital and former co-founder of business social networking pioneer LinkedIn, also joins the team as an advisor.

“Our new investors and directors have been intimately involved in the creation and growth of some of the most important Internet subscription and media companies in the US and Europe over the past decade,” states Thiers. “I’m thrilled to have added these passionate and experienced Internet investors and entrepreneurs to the team.”

Sean Marsh states, “Point Judith Capital is very excited to have the opportunity to partner with Sittercity.com to expand its leadership in the industry. This is a company that has built a highly scalable and attractive business model that is showing both accelerated growth and network expansion, the two cornerstones of capital-efficient Internet businesses of substantial size and equity value. Genevieve is a true entrepreneurial pioneer, and has built the clear leader in a fast growing and important sector offering a solution that is universal for families across the US. As a parent of three children, myself, I know how difficult it is to find quality caregivers for all of our household needs. Sittercity delivers a solution that is unparalleled.”

Even in the current economic downturn, Sittercity is proving to be a recession-proof business. In 2008, the company continued solid year over year growth in the middle of the worst recession since the depression, and it is already beating its revenue goals for 2009.

About Sittercity.com

Sittercity.com, the inventor of online caregiving, is America’s largest and most trusted online source for child care, pet care, senior care, housesitting, housekeeping and tutoring. As the industry leader in online care, Sittercity has a network of more than a million caregiver profiles nationwide, and helps families and individuals across America find the perfect in-home care provider quickly, easily and safely. Sittercity’s care-seekers can use the company’s four-step screening process, which includes checking references, reading caregiver reviews, conducting interviews and utilizing free access to background checks. Sitter profiles also come with photos, experience, training, safety skills, availability calendars, reviews and more. Registration for sitters is free, and care-seekers pay as little as $8 per month for a membership, which gives them unlimited ability to post jobs, and search, contact and hire sitters in their areas. The pioneer of its field, Sittercity has been featured by thousands of media outlets, including The Ellen DeGeneres Show, The View, TODAY Show, Good Morning America, The Early Show, New York Times, Wall Street Journal, and many more. Sittercity has also received twelve national awards, including a U.S. Small Business Administration award in 2006 from President Bush, and three international awards, including first place in the prestigious UPS “Out of the Box” Small Business contest. Sittercity’s Corporate Program now serves more than twenty-five marquee clients, including Avon, Mastercard, FOX Networks, Pitney Bowes, and Monster Worldwide. For more information, visit the company Web site at http://www.sittercity.com.

About Point Judith Capital

Point Judith Capital is a leading early-stage venture capital firm partnering with outstanding entrepreneurs building world class communications, Internet, healthcare and technology companies. Point Judith Capital has a strategic partnership with Tudor Investment Corporation, a premier, global alternative asset management firm. Point Judith’s team has funded or founded such notable successes as LinkedIn, Optasite, Andover.net (Slashdot, Linux.com) and Yandex. For more information, visit http://www.pointjudithcapital.com.

About Apex Partners

Apex Venture Partners is one of the oldest venture capital firms in the Midwest. Founded in 1987, Apex has invested in over 140 information technology and technology-enabled services companies throughout the U.S. Apex has six funds and over $600 million under management. For more information about Apex Venture Partners, please visit http://www.apexvc.com.

Source: Sittercity.com

SteadyMed Closes Strategic Funding Round

The $2 Million Round Led by US Clinical, Regulatory and Scientific Experts Funds Further Development of SteadyMeds PatchPump Device, a Potential Breakthrough in Drug Delivery

WASHINGTON SteadyMed Ltd., an Israeli company based in Tel Aviv (SteadyMed or the Company), closed a $2 million round of funding from US investors. The round was led by Samson Venture Partners, LLC (Samson Venture Partners), the investment management arm of Becker & Associates Consulting, Inc., an FDA consulting firm in Washington, DC specializing in innovative medical devices and drugs. SteadyMed, founded in 2005, develops sophisticated miniature disposable infusion pumps with unique drug delivery characteristics that provide enhanced portability and optimized infusion algorithms for large molecules and high-viscosity drugs. The Company is targeting interest from several major pharma companies having biological drugs requiring the specialized drug-delivery characteristics enabled by the PatchPump technology. Prior investors in SteadyMed include the RAD Biomed Incubator, and its Chairman, Mr. Yehuda Zisapel. The SteadyMed drug delivery platform has the potential to expand the market for currently approved drugs, and, perhaps most importantly, create markets that do not yet exist for new molecular entities, especially certain biologics, stated Karen M. Becker, Ph.D., CEO of Becker & Associates Consulting, Inc. and Chair of the Samson Investment Committee. Dr. Steven Weisman, an investor in Samson Venture Partners, added, Pipeline products within the big pharmaceutical companies are currently scarce and we believe that the SteadyMed technology offers several meaningful features that will be of great value to the developers of biological and other medications where efficient, consistent drug delivery is currently a critical barrier to market penetration. Dr. Weisman is the head of the pharmaceutical practice of a major healthcare consulting firm with considerable clinical and regulatory experience as a senior executive at a number of large pharma companies. Ron Ginor, MD, Managing Director of Samson Venture Partners, commented that he is encouraged by the fact that even in this challenging financial environment, technologies which show significant promise can garner the attention and support of the investment community. He added that knowledgeable life science investors readily embraced SteadyMeds value proposition, and this is a significant testament to the SteadyMed management team, who kept its focus on the product and on running the business in a thoughtful, disciplined and organized manner. Yossi Aldar, CEO of SteadyMed, commented that he was pleased that the Company has found financial backers with industry savvy. He added: In these difficult times, the significance of locating sophisticated investors with extensive connections within the pharma industry cannot be overstated. We are gratified that the level of interest in our technology shown by the pharma community is now being matched by the interest shown by the financial community. Mr. Aldar was previously the Managing Director of Versamed Medical Systems Ltd., a leading company in the respiratory field, and before that the CEO and co-founder of Flight Medical Ltd., a successful Israeli medical device company. SteadyMed Ltd. is a medical-device company pursuing innovative devices for delivering injectable therapeutic drugs for chronic conditions. SteadyMed is pioneering a novel and inexpensive technology which enables the packaging of chronic therapies (in particular biologics) within an easy-to-use, disposable patch-like device the PatchPump. Samson Venture Partners, LLC is the investment management arm of Becker & Associates Consulting, Inc., a strategic consulting firm specializing in clinical, regulatory and compliance issues. Samson Venture Partners, LLC identifies opportunities and manages investments in companies providing unique clinical, regulatory, strategic or clinical opportunities in the life science sector.

Source: Samson Venture Partners, LLC

Blackstreet Capital Raises $91 Million for Equity Fund

BETHESDA, Md. Blackstreet Capital Management today announced that Blackstreet Capital Partners II, LP raised $91 million of equity capital in 2008. This is the first closing of the fund, which is expected grow to $125 million.

We are grateful for the confidence and support of both our long-time and new investors, said Murry N. Gunty, Founder and Managing Director of Blackstreet Capital Management. This fund will allow us to capitalize on the unique opportunities we anticipate in 2009 and beyond.

Blackstreet Capital Partners II follows on the success of Blackstreets first fund, Blackstreet Capital Partners, LP, which purchased or invested in 14 companies representing more than $1.2 billion in annual revenue, and returned an average of 5.5 times invested capital on realized transactions.

Blackstreet Capital Management specializes in rescuing and turning around distressed small and midsized companies with unique assets and unrealized market potential.

We invest the human and financial capital necessary to position distressed companies to operate successfully and profitably in the long-term, said Gunty. Over the past five years, our investments have saved more than 6,000 jobs for employees and local communities, while providing significant returns for our investors.

About Blackstreet Capital

Blackstreet Capital Management, LLC (www.blackstreetcapital.com) is a Bethesda, MD based private equity firm with over $175 million of capital under management. Blackstreet focuses on control buyouts of companies that are either underperforming, in out-of-favor industries or are undergoing some form of transition. Blackstreet seeks investments in a range of industries, including manufacturing/distribution, restaurants, specialty retail, business services and health care. Blackstreets advisors include former Chief of Staff to President Ronald Reagan, Kenneth Duberstein; former Chief of Staff to President Bill Clinton, Thomas McLarty III; lobbyist Thomas Hale Boggs, Jr.; and Carlyle Group founder Edward J. Mathias.

Source: Blackstreet Capital Management, LLC

Fliqz Receives $6 Million in Series C Funding From Triangle Peak Partners and Mohr Davidow Ventures

New Funding and More Than 35,000 Customers Validate Fliqzs Leadership in Online Video Market

EMERYVILLE, Calif. Fliqz, the leading provider of plug-and-play video solutions, today announced it has received $6 million in Series C funding. The round was led by Triangle Peak Partners, LP and joined by existing investor Mohr Davidow Ventures (MDV). Fliqz, which has more than 35,000 online video publishers using its platform, will use the funds for product development, international expansion and ongoing growth of its already robust sales organization.

2008 has witnessed broad acceleration in the adoption of online video, with thousands of companies incorporating video into their marketing mix. Today, Fliqz powers more sites than any other plug-and-play provider, with more than 1,000 new publishers a month selecting Fliqz.

The adoption of video by web sites of all sizes marks the single greatest change in the online landscape since the ubiquitous adoption of email and web sites in the mid-1990s. Plug-and-play solutions are fueling this growth by removing the technical and financial barriers to mass adoption, said Benjamin Wayne, CEO of Fliqz. The financial support and expertise of investors like Triangle Peak Partners and MDV provides valuable resources and experience as we continue to build on our success in serving this multi-billion dollar emerging market.

The Fliqz platform enables sites to effortlessly and cost-effectively integrate customized video solutions. A complete application set provides end-to-end tools for the capture, management, moderation, tracking, and monetization of video assets. Unlike other expensive and technically-complex alternatives designed primarily for large media companies, Fliqz solutions are designed to meet the needs, budget, and technical expertise of a wide spectrum of publishers.

The widespread adoption of video is creating tremendous market growth, said Dain DeGroff, a partner at Triangle Peak Partners, LP. Fliqzs extensive and rapidly growing customer base, robust yet intuitive technology, and seasoned management team make it uniquely positioned to take advantage of this exciting opportunity.

About Fliqz

Fliqz is the leader in full-service, plug-and-play video solutions. The company offers the most flexible video solutions available online, providing seamless integration and full customization to companies of any size. Fliqz eliminates traditional barriers to online video by removing the complexity associated with both site implementation and user deployment, ensuring that there is no code to develop, no infrastructure to own, and no software to maintain. The company maintains a customer network of more than 18,000 sites worldwide and is based in Emeryville, Calif. Additional information can be found at www.fliqz.com.

About Triangle Peak Partners

Triangle Peak Partners, LP is an investment firm focused on venture capital and private equity investments in private and public companies in the technology, energy, and alternative energy sectors. The firm has over $300 million in assets under management, $165 million of which is in venture capital and private equity, and has offices in Carmel, Palo Alto and Houston.

About MDV-Mohr Davidow Ventures

MDV is a leading Silicon Valley-based venture capital firm that partners with exceptional entrepreneurs building breakthrough companies creating new markets or disrupting incumbents, principally through technology innovation. The firm invests in the areas of Cleantech, Information Technology, and Human Health. Since its inception in 1983 the firm has taken a hands-on approach to investments and works closely with entrepreneurs to reduce time to market and build successful companies. Companies funded by MDV include: CarrierIQ; Genius; InfusionSoft; IronKey; Laurus Energy; Nanosolar; Pacific Biosciences; Proofpoint; Revenue Science; Shutterfly and ZeaChem. MDV has $2 billion under management. For more information, visit http://www.mdv.com.

Source: Fliqz

TriCipher Secures $12M in Venture Capital

Increasing Traction of On-Demand Single Sign-On and Strong Authentication for SaaS Applications

LOS GATOS, Calif., Jan. 27 TriCipher, the on-demand identity assurance and management company, just announced a $12 million round of venture funding, further validating the company’s innovative technology that secures and simplifies access to online applications. This marks TriCipher‘s third round of funding and will help extend the tremendous success the business has seen from its newly introduced cloud-based myOneLogin solution.

“Nearly every business relies on online applications, and TriCipher’s myOneLogin makes it easier than ever to secure and simplify access, protecting organizations,” said John De Santis, chairman and CEO of TriCipher. “We’re seeing traction across several vertical markets, which supports what nearly every analyst firm is saying; SaaS is the next generation and companies need to start taking steps to secure and optimize the experience.”

Within the past 9 months, the company has added 100 new customers including enterprises that are launching new Web-based services to their customers and organizations that are providing safe remote access to applications over the web for their employees and partners. Some examples include:

• A leading global provider of information security and storage solutions is using myOneLogin to provide strong authentication and single sign-on (SSO) to their customers for a recently launched Web application delivery service.
• A global biotechnology company with a presence in more than 100 countries replaced one-time-use password (OTP) tokens to eliminate helpdesk calls from their remote workforce with myOneLogin’s clientless VPN strong authentication solution.
• A leading provider of open source database management software and support services is using myOneLogin for SSO security and convenience to its thousands of worldwide users.
• A pure-play cloud computing systems integrator is using myOneLogin to deliver strong authentication, SSO convenience and identity federation to its portfolio of enterprise-ready cloud computing solutions.
• A fast-growing consulting services organization that focuses on higher education technology is using myOneLogin to help distributed users communicate and collaborate with Software-as-a-Service (SaaS) applications.
• A new media video production agency supporting corporations and non-profit organizations is using myOneLogin’s secure single sign-on capabilities to simplify and secure access to the SaaS applications that run its business.

Budget Cuts Drive Adoption: The Mandate to Do More with Less

Businesses of all sizes continue to turn to online applications because of their increased flexibility, manageable deployment and infrastructure costs and lightning-fast implementation capabilities. TriCipher’s myOneLogin is an on-demand identity assurance and management solution and operates completely in the cloud. The offering helps businesses secure online applications through strong authentication, SSO convenience and the ability to seamlessly integrate multiple SaaS applications – all in a single application.

About TriCipher

TriCipher, Inc. provides a unified authentication infrastructure to protect web and enterprise portals, the people that use them and the business process that flows through them against fraud and identity theft. The TriCipher Armored Credential System(TM) (TACS) is the first authentication system that enables companies to deploy and manage multiple types of credentials from a single infrastructure. Through this flexible “Authentication Ladder,” TriCipher protects customer investment by adjusting authentication strength to defeat new threats and to meet regulatory changes without the need to implement a new infrastructure. Recently, TriCipher introduced myOneLogin(TM) the first secure on-demand offering that delivers strong authentication, single sign-on (SSO) convenience and the ability to seamlessly integrate multiple Software as a Service (SaaS) applications in a single solution. Founded in 2000, TriCipher is headquartered in Los Gatos, Calif. The company is funded by ArrowPath Venture Capital, EPIC Ventures, Intel Capital, RBC Technology Ventures, and Trident Capital. For more information, visit TriCipher on the web at www.tricipher.com.

Source: TriCipher, Inc.

Vinton Street Partners Closes $11.75 million Series A Financing for CleanScapes Inc.

Seattle environmental services company to use financing to support rapid growth in municipal collection services

SEATTLE, Jan. 27 Vinton Street Partners, a Seattle-based boutique investment bank, today announced that it has closed $11.75 million in Series A preferred equity financing for CleanScapes Inc.

CleanScapes will use the financing to help support its rapid growth in municipal solid waste collection services. The Seattle-based company was recently awarded collection contracts in Shoreline and Seattle, Wash.

“We are proud to support a great company like CleanScapes and its mission to bring sustainable waste reduction solutions to the solid waste industry,” said Gregory Mollner, president of Vinton Street Partners. “Like Vinton Street, CleanScapes is committed to social responsibility in its business practices and to developing sustainable urban environments, and we wish them continued success as they expand in Seattle and beyond.”

Originally tasked with raising $8 million, Vinton Street Partners was able to raise an additional $3.75 million to provide additional equity to the company — all in one of the most challenging capital markets in history.

“In one of the most challenging financial environments in over 50 years, Vinton Street Partners came through for us, raising the crucial financing we required during this key moment in our company’s growth,” said Chris Martin, founder and president of CleanScapes. “Vinton Street Partners is truly a financial ‘partner’ in every sense of the word. Our priorities became their priorities, and they guided us through the process as if it was their own company. The funding gives CleanScapes the opportunity to realize our short- and long-term service and growth goals. We could not have reached this milestone without them.”

CleanScapes provides solid waste and facilities maintenance services to properties, business improvement districts, stadiums and municipalities in Seattle and Shoreline, Wash.; Portland, Ore.; and San Francisco, Calif. “The company’s mission is to enhance the commercial and residential viability of cities by delivering effective waste reduction, diversion, collection, and cleaning programs while providing career paths for men and women in the social services network.”

Vinton Street Partners

Vinton Street Partners (“VSP”) is a Seattle, Wash., based boutique investment banking firm that provides corporate financial advisory services and the placement of private debt and equity capital for our clients. Over the last six years we have raised over $150 million.

Vinton Street Partners structures private placement offerings on an exclusive basis. We oversee the development of all offering materials including the private placement, LLC agreement, subscription documents, marketing materials, and all ongoing investor communications.

Source: Vinton Street Partners

CoreXchange Raises Expansion Funding to Meet Continued Demand for Network and Colocation Services

DALLAS Network infrastructure and colocation provider CoreXchange today announced that it has secured convertible debt financing from Red Barn Investments for infrastructure expansion. Terms were not disclosed.

CoreXchange has achieved significant customer growth in line with the aggressive revenue targets that we set last year, according to Michael Walti, co-founder and technology architect of CoreXchange. The latest funding round from Red Barn provides a solid funding base going into 2009 as we expand our infrastructure and service delivery capabilities to meet the increasing demand for our networking and colocation services.

CoreXchange continues to attract new business with a complete network outsourcing solution that helps enterprises lower IT costs during a challenging economic environment. CoreXchange delivers highly redundant network services to the most demanding IT enterprises through its Network Access Exchange, allowing customers to access multiple leading Internet backbones through a single managed connection.

We are enthusiastic both about the long-term growth prospects of the network infrastructure and colocation industry and CoreXchanges compelling value proposition in this market, stated Pat Pollard, Red Barn Managing Director. The CoreXchange team continues to deliver solutions that are attractive to enterprises seeking maximum reliability and performance in a way that fits their IT budgets.

About CoreXchange, Inc.

CoreXchange comprehensive networking solutions include colocation, high performance network connectivity, Internet access, disaster recovery and a business continuance center. Connectivity services are available in CoreXchange’s enterprise-class data center or at a customer’s remote location, via local loop or metro Ethernet. CoreXchanges proprietary Pricing Configurator, the industry’s first IP bandwidth network configuration tool, provides users with the ability to instantly customize a multi-homed mesh of Tier-1 backbone carriers via a simple web interface. Headquartered in the globally-recognized Infomart carrier center in Dallas, Texas, CoreXchange is led by a highly experienced team of networking services technologists and executives. For more information, visit www.corexchange.com.

About Red Barn Investments

Red Barn Investments is a private equity firm located in Northbrook, Illinois, that invests in small and mid-sized companies where its expertise and relationships can assist in creating value over the long term. To learn more about Red Barn Investments, visit www.redbarnllc.com.

Source: CoreXchange, Inc.

Virtual Computer Secures $15 Million in Series B Funding, Adds Strategic Investor Citrix Systems

PC Management Innovator Reaches $21 Million in Total Capital Raised to Lead All Client Virtualization Startups

WESTFORD, Mass. Virtual Computer Inc., the company redefining PC lifecycle management through virtualization, today announced it has secured $15 million in series B funding. The round was co-led by series A investors Highland Capital Partners and Flybridge Capital Partners with additional investment coming from strategic investor Citrix Systems, Inc. The latest round of financing positions Virtual Computer to significantly accelerate its global sales and marketing efforts and further advance development of the companys NxTop product offering.

Weve been watching Virtual Computer since their company launch in September 2008, said Andy Cohen, senior director, strategic development at Citrix Systems. We see great synergy between their use of Xen technology for PC lifecycle management and Project Independence, our recently-announced initiative to dramatically change the economics of desktop computing by enabling devices, desktops, applications and people to operate more independently through the power of client-side Xen virtualization. We look forward to working with Virtual Computer in a mutually beneficial capacity and see our investment as the first step in that direction.

NxTop, Virtual Computers next-generation PC management platform, makes it as easy to manage thousands of PCs as it is to manage one, dramatically reducing PC management costs while improving PC reliability and security. NxTop isolates the PCs critical components — hardware, operating system, applications, and user data — allowing each to be managed independently in a highly-scalable fashion without a persistent network connection.

This is a blockbuster funding round for any company, especially in this economic environment, said Dan McCall, president and CEO of Virtual Computer. Not only did our current investors show their continued support for the company, but we were able to add a proven leader in the virtualization market as a strategic investor. We are looking forward to working with Citrix to help make Xen a market standard for PC lifecycle management.

According to the respondents of the third annual National Venture Capital Association (NVCA) Predictions Survey, 2009 will be met with a slowdown in investing across most sectors. However, most venture capitalists surveyed predict a recovery in 2010, when the IPO market is expected to re-open and those companies and venture firms that weathered the storm will emerge strongly.

There is unprecedented pressure on corporate IT teams in 2009 to reduce costs and increase employee productivity, said Peter Bell, general partner, Highland Capital Partners. Our increased investment is a vote of confidence that Virtual Computers unique capability to deliver the cost saving benefits of desktop virtualization without the need for significant data center investments is a winner in any economic climate.

For investors, it is vital that a start-up is led by a seasoned and proven executive team, that their technology is innovative, and that the market is ready to embrace the technology, said Jon Karlen, general partner, Flybridge Capital Partners. Virtual Computer has proven itself in each of these areas, and were excited to help propel them into the next phase of their go-to-market efforts.

About Virtual Computer, Inc.

Virtual Computer, Inc. is redefining PC lifecycle management by making it as easy to manage thousands of PCs as it is to manage one. NxTop, the companys flagship PC management product, combines a bare-metal client virtualization platform with a powerful central management system to dramatically reduce PC management costs, while improving reliability, security, and the end-user experience. NxTop uses advanced virtualization technology to isolate the main components of a PC: the hardware, operating system, applications, and user data, allowing each to be managed independently. Founded in 2007, Virtual Computer is privately held and headquartered in Westford, MA. For more information visit us at http://www.virtualcomputer.com.

Citrix is a trademark of Citrix Systems, Inc. and/or one or more of its subsidiaries, and may be registered in the U.S. Patent and Trademark Office and in other countries. All product and service names mentioned are the trademarks of their respective companies.

Source: Virtual Computer Inc.

Lucid Imagination Announces $6 Million Series A Funding from Granite Ventures and Walden International

First commercial entity for Apache Lucene/Solr open source search technology

SAN MATEO, Calif. Lucid Imagination today announced that it has received $6 million in Series-A funding from Granite Ventures and Walden International with equal contributions from each company. Lucid Imagination, which launched today, is the first commercial open source company dedicated to the widely installed Apache Lucene/Solr search technology (please see release, Lucid Imagination Launches as First Commercial Company Dedicated to Apache Lucene/Solr Open Source Search Technology, dated January 26, 2009). The funding will be used to expand the technical staff integral to delivering the companys services, as well as grow sales and marketing functions.

The Apache Lucene project has been a magnet for thousands of open source search developers and is ranked one of the top 15 open source projects, said Eric Gries, CEO of Lucid Imagination. The strength of the Lucene community demonstrates that open source search technology is a viable, cost effective alternative to expensive proprietary technology. When search application developers think of Lucene and related projects, we want them to view Lucid Imagination as their destination for expertise and resources to make them and their enterprise search solutions successful.

Over the past few years enterprise search has become a mission critical application, growing 28% annually, to $1.8 billion in 2007, said Christopher McKay, principal at Granite Ventures. At the same time open source software adoption has seen tremendous growth as more and more companies look to reduce costs while still maintaining strong IT innovation. We believe that the Lucid Imagination team is uniquely qualified to bring the best of both to enterprises that are reluctant to deploy Apache Lucene/Solr technology without the support of a well-funded commercial company.

We see tremendous opportunities investing in open source companies, and weve seen how they have changed the competitive landscape in segments like CRM, ECM and infrastructure software, said Mary Coleman, managing director, USA for Walden International. Enterprise search is the next big opportunity for commercial open source and Lucid Imagination is well-positioned for success. The Lucid Imagination team has exceptional technical expertise and a clear vision for strengthening the Apache Lucene community and making it a dominant player in the search and discovery software market.

About Lucid Imagination

Lucid Imagination is a commercial company dedicated to Apache Lucene technology. The company provides free certified distributions, commercial-grade support, training, high-level consulting and value-added software for Lucene and Solr. Lucid Imaginations goal is to serve as a central resource for the entire Lucene community and make them more productive. Lucid Imagination is a privately held venture-funded company. The investors include Granite Ventures and Walden International and its customers include AOL, Apple, Comcast, and Zappos.

Source: Lucid Imagination

SchoolNet Closes $13 Million Financing

Proceeds To Fund Strategic Acquisitions and Fuel Growth

NEW YORK, Jan. 26 SchoolNet, Inc., an education technology company that helps public school districts improve efficiency and increase academic achievement, today announced that it has completed a $13 million Series D financing led by The Carlyle Group, along with other returning investors including Ascend Ventures and the New York State Common Retirement Fund and Hamilton Lane. SchoolNet will use the funds to fuel its organic growth and make strategic acquisitions.

SchoolNet offers modules for assessment, reporting, curriculum deployment, professional development management, advanced analytics, parent portals, and enterprise dashboards. SchoolNet’s products and services are used by many of the nation’s largest school districts including Chicago Public Schools and the School District of Philadelphia.

“With the economic challenges facing the nation, school districts are looking for cost effective ways to improve achievement and increase productivity,” said Jonathan D. Harber, CEO of SchoolNet. “School districts seek strong partners that can support data-based decision-making and offer a full spectrum of integrated instructional technology solutions. Our success within the nation’s largest school districts puts SchoolNet in a good position to continue to lead the education technology market.”

“Since our initial investment in SchoolNet in 2006 we’ve seen significant growth in demand for technology-based educational productivity solutions,” said Brian Hayhurst, Managing Director of Carlyle Growth Partners. “SchoolNet is a strong player in an important market. We believe there are excellent opportunities for SchoolNet to acquire other strategic technology companies that can enhance their offerings in the education market.”

“K-12 education is a large, growing market that will have increased national support as the country begins to invest in the future of our economy,” said Darryl Wash, Managing Partner of Ascend Venture Group. “Through its track record over the past ten years, SchoolNet has proven that its solutions can revolutionize the way school administrators operate, the way teachers teach, the way parents stay involved, and the way children learn. SchoolNet is the type of investment that this country will need to make to drive past the current economic slump.”

About SchoolNet, Inc.

SchoolNet, Inc. is the leader in Data-Driven Decision Making for K12 school districts. SchoolNet’s award-winning Instructional Management Suite (IMS) helps districts improve efficiency and increase student achievement. The Instructional Management Suite offers modules for Assessment, Reporting, Curriculum Deployment, Professional Development Management, Advanced Analytics, Parent Portals, and Enterprise Dashboards. SchoolNet’s solutions are used successfully by many of the nation’s largest school districts including Chicago Public Schools and the School District of Philadelphia. SchoolNet is recognized by the Inc. 500 List and Deloitte’s Fast 50 and as one of the fastest growing private companies in the country. For more information, please visit www.schoolnet.com.

About Ascend Venture Group

Ascend Venture Group, LLC is a private investment management firm headquartered in New York City. Ascend combines highly sophisticated financial expertise with unique access to investment opportunities to create attractive risk/reward portfolios and partnerships for its investors. The firm targets investment opportunities in the applied technology and for-profit education industries, please visit www.ascendventures.com

About The Carlyle Group

The Carlyle Group is a global private equity firm with $91.5 billion of assets under management committed to 66 funds as of September 30, 2008. Carlyle invests in buyouts, growth capital, real estate and leveraged finance in Africa, Asia, Australia, Europe, North America and South America focusing on aerospace & defense, automotive & transportation, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, technology & business services and telecommunications & media. Since 1987, the firm has invested $52.7 billion of equity in 866 transactions for a total purchase price of approximately $225.8 billion. In the aggregate, Carlyle portfolio companies have more than $109 billion in revenue and employ more than 415,000 people around the world, please visit www.carlyle.com

Source: SchoolNet, Inc.