Infinia, Avalara, Incline and other companies that are raising cash |
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Venture capitalists are hoping that 2010 proves to be a more lucrative year than 2009. And because of that, it appears that the funding spigot is back on to some degree. We've been tracking the SEC filings over the past few weeks to see who is raising money. Here's a quick look at the raw data, with links to the filings. You'll notice that two Washington companies with large appetites for capital make appearances.
Infinia photo
Infinia, which is developing technologies to convert the sun's rays into electricity, said it raised $11.5 million of a $75 million round. The Kennewick company has certainly been no stranger to the capital markets in the past, having raised $9 million in debt and equity financing last November and $50 million in February 2008. Investors include Vulcan, venture capitalist Vinod Khosla, and others.
Telecom Transport Management said it has raised $40 million of a $58 million round. The Seattle company -- which provides back-haul networks for wireless carriers -- announced in 2007 that it had raised $55 million with an option for $65 million more. TTM brought in $20 million of that last May, and the $40 million that just appeared in the SEC filings could be part of that previously announced round too. The 7-year-old company -- backed by Rally Capital, Ignition Partners and others -- could not immediately comment on the financing.
IP Street of Seattle said it has attracted $1.5 million. The company lists Richard White, Lewis Lee and Arthur Coffey as executives.
Eden Rock Communications said it has raised $500,000 in equity financing. The 3-year-old Bothell company -- led by former engineers on AT&T's "Project Angel" -- provides consulting and design services to operators of 4G wireless networks. It is also working on Eden-Net, a "self organizing network" technology that's designed to reduce the costs of WiMax and LTE deployments.
Etelos -- a Maple Valley company which helps businesses move their applications into the cloud -- raised $250,000 of a $375,000 round, according to a recent filing. Directors of the company include Andy Liu, Ronald Rudy, Daniel Kolke and Robert Thordarson. More details on the deal here.
Limeade said in a filing that it has raised $2.9 million of a $3.4 million round. The Bellevue company -- led by former Bocada executive Henry Albrecht -- is developing online programs for workplaces to encourage employees to lose weight, quit smoking, reduce stress or stop drinking. Last summer, the company announced $2.4 million.
Incline Therapeutics said it has attracted $440,000 in debt financing. The Seattle company lists Alan Levy and David Socks as executives. Levy, a medical device pioneer who previously served as CEO of Northstar Neuroscience and Heartstream, is a venture partner at Frazier Healthcare Ventures in Seattle. James Topper, a general partner at Frazier Healthcare, and Jim Glasheen, a general partner at Technology Partners, are listed as directors.
Avalara, an 11-year-old maker of sales tax software, said in a filing that it has raised $5 million in equity financing. The Bainbridge Island company -- which helps business more cost effectively handle sales tax processing, return preparation and other tasks -- was founded by Jared Vogt, Rory Rawlings and Scott McFarlane. It says that more than 10,000 businesses have outsourced sales tax calculations to Avalara, the equivalent of about $10 billion in annual filings.
Hemaquest Pharmaceuticals said that it has raised $6 million of a $12 million equity financing round. The Seattle company -- founded in 2007 and backed by De Novo Ventures, Forward Ventures and Lilly Ventures -- is working on treatments for sickle cell disease and viral-related cancers. Hemaquest was co-founded by Ron Berenson -- the former CEO of Xcyte Therapies and a founder of CellPro-- and Susan Perrine -- the former president of Gene Regulation Laboratories and a professor at Boston University School of Medicine.
Blueview Technologies of Seattle raised $215,000 of a $500,000 round. The company -- founded in 2003 -- has developed multibeam imaging sonar which is used to provide detailed views into what is occurring underwater. The technology has been deployed by port security agencies, the military, academic research groups and offshore oil and gas exploration firms.
Outcome Concept Systems -- a provider of business intelligence services to healthcare companies and government agencies-- said it has pulled in $1.1 million in funding. The Seattle company -- founded in 1997 -- was started by Amanda Twiss and Lance Pilichowski
John Cook is co-founder and executive editor of TechFlash. He has been covering the technology beat for nearly a decade, writing about startups, entrepreneurs and venture capital, most recently serving as a reporter/blogger at the Seattle Post-Intelligencer.
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