SessionM, Sequoia, Braemar, and Charles River Ventures: A VC Roundup

5/8/12Follow @gthuang

Catching up on some venture capital news on a rainy Tuesday…

SessionM, a Boston-based mobile advertising startup, has raised $20 million in Series B funding led by Charles River Ventures, according to a report in Dow Jones VentureWire, which put the company’s valuation at around $100 million. The startup’s previous investors include Highland Capital Partners and Kleiner Perkins Caufield & Byers. SessionM makes a software platform for advertisers and brands to reach consumers on mobile devices in exchange for reward points, special content, and deals. The startup, led by co-founders Lars Albright, Mark Herrmann, and Scott Weller, is planning to expand from 35 to 60 employees in the next year, according to the report. The company did not respond immediately to a request for comment.

—Speaking of Charles River Ventures, the Boston- and Bay Area-based venture firm closed its 15th fund at $375 million a couple months ago.

Braemar Energy Ventures, based in New York and Boston, has raised about $280 million toward its third energy fund, according to a recent regulatory filing.

—Sequoia Capital has hired Todd Cozzens, a Boston-based health-IT veteran, as a venture partner, the Boston Business Journal reported. Cozzens, the former CEO of Wakefield, MA-based Picis (acquired by Ingenix/UnitedHealth in 2010), is Sequoia’s first venture partner dedicated to healthcare and health-IT investments, and its first East Coast hire, according to the report. In an interview with Citybizlist, Cozzens said he was “a known quantity” to Sequoia, and that although he happens to be based in Boston, he will look at companies around the U.S. and abroad.

Gregory T. Huang is Xconomy's Deputy Editor, National IT Editor, and the Editor of Xconomy Boston. You can e-mail him at gthuang@xconomy.com or call him at 617-252-7323. Follow @gthuang

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