Internet

Cuill

Stealth-mode search startup Cuill Inc. of Menlo Park, Calif., has raised a $25 million second round. Madrone Capital of San Francisco led the funding. The company claims to be developing "a new approach to search." Cuill previously received an $8 million first round from Tugboat Ventures and Greylock Partners.

Media

Federated Media

Blog advertising network Federated Media Inc. has received a $50 million minority investment from Oak Investment Partners of Palo Alto, Calif., at a rumored valuation of $200 million. Omidyar Network Commons LLC, J.P. Morgan Partners, Panorama Capital and various individual investors had previously backed Federated Media, but the new funding dwarfs all of its previous investments. Founded in 2005, the Sausalito, Calif.-based digital media company represents over 125 media entrepreneurs who run more than 150 Web sites, blogs and social networking applications. The company became profitable in third quarter 2007.

Wireless

Rosum

Rosum Corp. of Mountain View, Calif., has raised $15 million. Charles River Ventures of Waltham, Mass., Allegis Capital of Palo Alto, Calif., Steamboat Ventures of Los Angeles, South Korea's KTB Ventures, and new investor TruePosition, Inc., a subsidiary of Liberty Media Corporation, participated. Rosum's technology enables location-based services such as search, advertising and security. The company's location software uses the broadcast TV infrastructure to deliver location and timing solutions indoors and in urban canyons, places where GPS sometimes don't work. The proceeds allow the company to accelerate its expansion into the mobile TV and femtocell markets.

Software

WaveMaker

San Francisco-based WaveMaker Software Inc., a provider of open source visual tools for Web application development, has closed a $4.5 million funding. Investors included Allegis Capital and and Worldview Technology Partners, both of Palo Alto, Calif., and Hummer-Winblad Venture Partners of San Francisco. The company has developed an Ajax open source Web application development platform. WaveMaker will use the proceeds to enhance development.
 
Medical devices

Pathway Medical Technologies

Pathway Medical Technologies Inc. of Kirkland, Wash., has secured $24.5 million in Series C financing. The capital came from HLM Venture Partners and Oxford Bioscience Partners, both of Boston; Latterell Venture Partners of San Francisco; Forbion Capital Partners of the Netherlands; Giza Venture Capital of Tel Aviv, Israel; and individual investors. The company develops endovascular treatments for peripheral arterial disease. It will use the capital to commercialize its products and to build a sales and manufacturing organization before product launch. The company's Pathway PV Atherectomy System allows for a minimally invasive procedure designed to restore circulation in the peripheral arteries by removing both hard and soft diseased tissue. 

Financial services

FrontStream

FrontStream Payments Inc., a Brentwood, Tenn., provider of payment technology for small and midsize businesses, has completed a $16 million initial equity funding. Investors in the company included SSM Partners of Memphis, Noro-Moseley Partners of Atlanta, Wakefield Group of Charlotte, N.C., Southpoint Capital of Fort Lauderdale, Fla., and management. The company provides products and services for merchants that allows them to accept credit and debit cards, and offer customer relationship products such as loyalty, gift and prepaid cards. -- George White