Idenix Prices Stock Offering, Google Ventures Reveals Investments, Sophos Sells Stake to Apax, & More Boston-Area Deals News
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about $26.2 million in net proceeds for the company.
—Incentive Targeting, a provider of Web-based behavioral marketing services for grocers, raised a second tranche of its Series A round, bringing the round’s total to $2.35 million. Hub Angels Investment Group led the funding for the Woburn, MA-based company.
–Two years after setting up a venture fund to invest in promising startups, Google has revealed the portfolio companies and team members behind the endeavor. Of the 10 companies publicly announced as part of the Google Ventures portfolio, four are from New England: Lebanon, NH-based Adimab, Lexington, MA-based English Central, Cambridge, MA-based Recorded Future, and Boston-based SCVNGR. Google’s team of 16 that’s working on managing the fund also includes a handful of New England-based personnel.
—Link Medicine wrapped up a $45 million Series C round, exceeding the initial plans for the round by $5 million. The Cambridge-based developer of drugs for neurodegenerative diseases closed the round with a third tranche from existing backers, at $20 million, an SEC filing revealed late last week. Clarus Ventures and SV Life Sciences have previously invested in Link, which in November 2009 began a Phase 1 human clinical trial of its drug for treating mild cases of Alzheimer’s disease.
—Restaurant ordering software provider Exit41 wiped away more than $20 million in venture investments to recapitalize with $6 million in new funding. The new money for the Andover, MA-based company came from GrandBanks Capital, Contour Venture Partners, and Dace Ventures, who joined existing investor Fidelity Investments.
—Burlington, MA-based Sophos, a maker of IT security software, announced its plans to sell a majority stake to private equity firm Apax Partners. The deal values Sophos at $830 million, and leaves Apax with about a 70 percent ownership of the company, Sophos VP of corporate strategy Arabella Hallawell told me.
—Framingham, MA’s Nimbit, an online portal for connecting musicians to fans, raised $376,950 to cap off a $1.75 million Series A-1 round, said CEO Bob Cramer. The new funding tranche included investments from CommonAngels, LaunchCapital, and Mike Dreese, the co-founder and CEO of Boston’s Newbury Comics.