$14M for Novomer, $7.3M for Innocentive, $6M for Zendesk, & More Boston-Area Deals News

8/21/09

In what I think is a first for the deals roundup, it was all venture all the time for New England’s tech and life sciences companies this past week.

Greentech Media, the Cambridge, MA-based media, market research, and events company, collected $825,000 of a planned $1.25 extension of its Series B round, which previously totaled $2.75 million. The new financing came from EGORA Holding, the Massachusetts Green Energy Fund, and other previous investors.

—Waltham, MA-based Innocentive raised $7.3 million in a Series B-2 roubd from Spencer Trask Ventures, a New York investment network that previously put $6.5 million into a B-1 round for the startup. Spun out of Eli Lilly in 2001, Innocentive provides an online idea marketplace where people post tough problems and experts propose solutions and compete for monetary prizes.

Zendesk, a Boston-based provider of a software-as-a-service system for customer support management, closed a Series B round of financing worth $6 million. Benchmark Capital led the deal and Charles River Ventures participated.

—Another Boston startup, “green” polymer developer Novomer, raised $14 million in a Series B round led by OVP Venture Partners. Physic Venture Partners, Flagship Venture Partners, and DSM Venturing returned to join the round as well.

AdvanDx, a molecular diagnostics firm in Woburn, MA, and Vedbaek, Denmark, raised $8 million in a follow-on closing of its Series C venture round, which first closed in 2007. Existing investors Scandinavian Life Science Venture and LD Pensions contributed to the financing.

—New Haven, CT-based cancer drug developer Kolltan Pharmaceuticals added $5 million onto its Series A financing, bringing the total for the round to $40 million. Investors in the round include Purdue Pharma, HBM BioCapital, and the Pritzker/Vlock family.

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