Ringing in the New Year: Five San Diego Tech Companies Raise Cash in December
Venture fundraising came to life among for a number of San Diego’s high-tech companies in December, although the deals for the most part were relatively small. Here’s a roundup of recent deals that will no doubt help these startup founders rest a little easier over the holidays:
—Daylight Solutions, the specialized maker of solid-state lasers that is based in the San Diego suburban community of Poway, CA, has raised $1.25 million out of a targeted $2 million round, according to a regulatory filing. When I profiled the company, co-founders Tim Day and Paul Larson said they have focused their laser technology on previously untapped mid-infrared wavelengths that are “the color of heat” for molecular detection and imaging instruments. Larson, who did not respond to an e-mail inquiring about the new funding, told me earlier this year the company previously raised $13 million from Jade Invest SA, a Swiss venture capital firm; Innotech of Singapore; Chicago-based Masters Capital; and individual investors.
—The Active Network, the San Diego-based developer of Web-based software used for online registration, marketing, and event management, raised $220,500, according to a regulatory filing that notes the shares were issued as part of a recent acquisition by the company. In response to a query, Active Network spokesman Jake Gonzales confirms the deal, but says, “I should have more information to pass along to you at the first of the year.” The Active Network has raised more than $200 million from VC firms and other investors, including ESPN, Canaan Partners, Tao Venture Partners, Charles River Ventures, North Bridge Venture Partners, Comdisco Ventures, and Performance Equity Partners
—Edgeware Analytics, a San Diego software analytics developer, has raised $662,798, according to a recent regulatory filing. The company specializes in software analytics for the small business lending market, using statistical modeling and credit evaluation to create predictive models and systems to help lenders more accurately assess risk. The company’s software is used by national lenders, certified development companies, credit unions, and community banks. Much of the company’s funding has come from individual investors. Todd Gutschow, a co-founder of HNC Software, and Michael Elconin of the Tech Coast Angels (and a San Diego Xconomist) are board members.
—Ortiva Wireless, a San Diego company that specializes in software for mobile video delivery, has raised almost $1.7 million toward a $2.5 million equity round, according to a recent regulatory filing. Previous investors include Artiman Ventures, Avalon Ventures, Comcast Interactive Capital, and Mission Ventures, according to the company’s website.
—U.S. Local News Network, a San Diego company formed to operate the San Diego News Network and similar online news sites throughout the country, has raised nearly $2.7 million in a $3 million targeted round, according to a recent filing. After launching the San Diego News Network earlier this year, founder and CEO Neil Senturia formed the U.S. Local News Network as a parent company, and announced plans to launch 40 similar websites across the U.S.