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