[Posted on March 17, 2008 - 4:53 PM]
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WebVisible
Local interactive advertising startup WebVisible Inc. of Irvine, Calif., has received $12 million in Series B funding. Sutter Hill Ventures of Palo Alto, Calif., led the round with participation from existing investor Redpoint Ventures of Menlo Park, Calif. Jim White, a Sutter Hill managing director, will join WebVisible's board. The company makes a software platform that manages interactive advertising campaigns for small and midsize businesses. The company will use the funds to develop its technology, expand its reseller channels and boost sales. Established in 2001, WebVisible specializes in local interactive advertising on the Internet, allowing local businesses to use search engine marketing, banner ads, and call-based products.
Clearleap
Atlanta video technology startup Clearleap has closed a $9 million first round led by Trinity Ventures of Menlo Park, Calif., and Noro-Moseley Partners of Atlanta. Also participating were individual investors Jim Chiddix, former CTO of Time Warner Cable, and Sig Mosley, president of Imlay Investments Inc. Joining Clearlap's board of directors were Trinity General Partner Fred Wang and Alan Taetle, general partner at Noro-Moseley. Established in 2007, Clearleap is working with video content owners and satellite and IPTV companies to offer a new model of video delivery technologies and services.
Manufacturing
Luminus Devices
Luminus Devices Inc., a Billerica, Mass., developer of solid-state light source technology for high-definition televisions and displays, has secured a $72 million round of funding. Braemar Energy Ventures of Boston led the financing, joined by San Francisco's CMEA Ventures and Paladin Capital Group of Washington. The company's PhlatLight product line is used for a variety of illumination applications, including high-definition TVs, video projectors, avionics displays and lighting systems. The company will use the capital to expand its sales and applications engineering teams, as well as for product development.
Cleantech
RecycleBank
Philadelphia's RecycleBank, a startup that aims to rewards people for recycling at home, has raised $30 million in new funding. Kleiner Perkins Caufield & Byers of Menlo Park., Calif., led the round, joined by RRE Ventures of New York and Sigma Partners of Boston, which had invested $13.1 million in the company's first round in May 2007. Founded in 2004, RecycleBank is an incentive-based recycling program that encourages households to recycle through rewards that can be redeemed at national and local businesses.
Venture firms
Flybridge Capital Partners
Boston-based early-stage venture capital firm Flybridge Capital Partners, formerly IDG Ventures Atlantic, has closed a new $280 million fund. The firm's third vehicle, Flybridge Capital Partners III LP, will focus on consumer, healthcare and information technology companies. Flybridge now has a total of $560 million in capital under management, including the IDG Ventures Atlantic I and IDG Ventures Atlantic II funds, which it will continue to manage. Founded in 2001 as IDG Ventures Atlantic, the firm decided to change its name to Flybridge Capital Partners to better reflect its position as a fund with limited partners beyond International Data Group. Other investors include Princeton University, Alfred I. duPont Testamentary Trust, AlpInvest Partners, FLAG Capital Management, Grove Street Advisors, HighVista Strategies, Knightsbridge Advisers, TrueBridge Capital Partners and VenCap International.
