Inverness and Athenahealth Face Market Woes, Virtualization Startups Woo Investors, GreatPoint Energy Cuts a Deal for Coal, & More

2/4/08

I’m too bummed about the Super Bowl to come up with a snappy lede for today’s roundup. Here are last week’s deals:

—Coal gasification firm GreatPoint Energy of Cambridge, MA, forged a long-term agreement with St. Louis-based Peabody Energy (NYSE: BTU) to build plants close to the company’s mines in Montana and Wyoming.

—Visible Measures closed a $13.5 million Series B funding round led by Menlo Park, CA’s Mohr Davidow Ventures and Cambridge, MA-based General Catalyst. The Boston-based firm last week unveiled its “VisibleSuite” audience measurement system at the Demo 08 conference.

—Inverness Medical Innovations (AMEX: IMA) of Waltham, MA, inked a deal to purchase Marietta, GA’s Matria Healthcare (NASDAQ: MATR) for some $1.18 billion in cash, stock, and the assumption of debt. Inverness investors didn’t seem to like the deal; the company’s stock fell 8 percent on news of the acquisition, the latest in a long string of buys for Inverness.

—Facebook shopping-engine maker StyleFeeder of Cambridge, MA, raised $2 million in Series A financing from Highland Capital Partners and Schooner Capital; the same two firms provided the startup’s $1 million seed round last year.

—Virtual Iron Software of Lowell, MA, raised $20 million in equity capital from Highland Capital Partners, Matrix Partners, Goldman Sachs, Intel Capital, and SAP Ventures, bringing the virtualization firm’s total venture financing to $65 million.

—Boston-based MocoSpace, a provider of cell phone-based social networking, closed a $4 million second-round financing from General Catalyst, Pilot Group, former eBay executive Michael Dearing, and others.

—Second Rotation announced it had completed a $4.4 million initial financing round led by Venrock and including the participation of angel investors Austin Ligon, Ashton Peery, and Henry Vogel. The Waltham, MA-based startup buys consumers’ unwanted electronics and sells them online.

—Yet another virtualization firm, AutoVirt of Nashua, NH, closed a $4 million Series A funding round. Waltham, MA-based Kepha Partners and Boston-based Sigma Partner participated in the deal.

—Watertown, MA’s Athenahealth (NASDAQ: ATHN) pulled its planned secondary stock offering, citing poor market conditions. The news came on the same day that Bob posted about Athenahealth CEO Jonathan Bush, Jr.’s pointed advice for entrepreneurs contemplating an IPO.

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