MojoPages Gets Austin Powered, Reaction Design’s Technology is on Fire, ParAccel Raises $22M, & Other San Diego BizTech News
It was a week of deals before the Fourth of July weekend—partnership deals, funding deals, and even some buyout deals. So let’s just deal ‘em.
—ParAccel, which develops business analytics technologies that accelerate database queries, moved into new digs in San Diego six months ago—after doubling its staff to 60 employees. Now the company, which also has offices in Cupertino, CA, has raised $22 million in a third round of venture funding from Menlo Ventures, Walden International, Bay Partners, Mohr Davidow Ventures, and Tao Venture Partners.
—Bakersfield, CA-based Ellis Energy Investments, which mostly operates oil industry service firms, made a shift to renewable energy by acquiring the assets of San Diego’s Pyron Solar. The recapitalized solar technology startup, which is developing industrial-sized solar arrays that concentrate sunlight, plans to unveil a solar array demonstration project it has been working on with San Diego Gas & Electric.
—MojoPages, a San Diego-based online business directory that includes consumer reviews, has raised $5 million in a Series A round of venture funding led by Austin Ventures of Austin, TX. The two-year-old startup plans to use the funds to expand its search business and attract new partners.
—The $100 million invested in San Diego’s V-Vehicle Co. during the three months that ended June 30 was counted among the biggest cleantech venture deals of the second quarter in a report issued by Deloitte and the San Francisco, CA-based Cleantech Group. Researchers say venture capital invested in renewable energy and cleantech startups rebounded to $1.2 billion during the quarter, but that’s still down 44 percent from the same quarter in 2008.
—Reaction Design CEO Bernie Rosenthal said he expects the simulation software developer to grow at 50 percent a year for the next few years. The company, which specializes in technology that models combustion reactions in engines and turbines, is benefitting from increasing environmental restrictions on fossil fuel emissions. The development of new fuels also has engine and turbine designers turning to Reaction Design’s simulation software to help them save on development costs.
—San Diego’s Concerro, which specializes in Web-based software that enables nurses to bid for their work shifts, acquired the assets of CommandAware, a hospital-incident management system, from Los Angeles-based PortBlue. The deal is expected to enable Concerro to expand its business.
—On a final note, I’ve received a number of congratulatory notes concerning Xconomy’s syndication agreement with the San Diego Union-Tribune, which operates the biggest news website in this region. Under our agreement, Xconomy will provide news and feature stories for both SignOnSanDiego.com and San Diego’s largest metro daily newspaper. Thanks for reading!