[Posted on March 6, 2008 - 3:22 PM]
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Mashup software maker Kapow Technologies has landed $11.6 million in private funding in a Series C round led by Walt Disney Co.'s Steamboat Ventures and Morgan Stanley's Strategic Investments Group."Kapow Technologies is helping transform the way Wall Street collects and repurposes information on the Web for use in new intelligent applications," said Gary Offner, executive director at Morgan Stanley's Strategic Investments Group, in a statement. "We believe that the Kapow Mashup Server has many valuable uses within Morgan Stanley and the financial services industry."
The new round brings Kapow's total outside funding to roughly $26 million. Between 2006 and 2007 the startup raised $7.9 million from British VC firm Kennet Venture Partners Ltd., which had previously invested $6.6 million. Kennet and Denmark's NorthCap Partners, another previous investor, had also provided the company's initial Series A funding; both participated in the latest round. Kapow's other backers are SAL Holding, a company owned by Danish investor Søren Anker-Ladefoged, who has interests in hotel operations and 7-Eleven in Scandinavia, along with investments in other startups; and Impress Group, a Japanese media company specializing in tech publications.
Mashup technology lets users build an application that integrates data from multiple data sources on the Web. Other companies in the niche are Connotate Technologies Inc., which is backed by Goldman, Sachs & Co. That startup's technology grew out of research at Rutgers University and uses so-called intelligent agents to retrieve specific information from the Web in real time. Users program the agents to pull data from sources like SEC filings, databases or press releases and then aggregate it into a database for delivery via BlackBerry or e-mail. - Alain Sherter
See March 6 press release from Kapow
See March 6 post from The Industry Standard
See March 6 post from VentureBeat
