Tigo, FanSnap, Soasta: Bay Area Biztech by the Numbers
Start your week off right with our data-driven roundup of deals and M&A news from San Francisco and Silicon Valley.
$18 million—New venture funding for solar photovoltaic module manufacturer Tigo Energy of Los Gatos, CA. New investor Bessemer Venture Partners joined all of Tigo’s existing backers in the round, including Generation Investment Management, Inventec Appliances Corp., Matrix Partners, OVP Venture Partners, and ICVGeneration.
$13 million—A Series A round of financing announced Friday for CiiNow, a stealthy Mountain View, CA-based cloud startup that says its technology can help game publishers and wireless carriers deliver rich graphics to mobile devices using less bandwidth. Foundation Capital, Alcatel-Lucent, and an unnamed strategic investor participated in the round.
$12 million—A Series C funding round announced today for Soasta, a Mountain View, CA, startup providing cloud-based testing of consumer mobile and Web applications. The Entrepreneurs’ Fund led the round, which was joined by prior backers Canaan Partners, Formative Ventures, and Pelion Venture Partners.
$5.3 million—New equity-based financing for Xambala, a stealthy Sunnyvale, CA, startup that makes event processing software for the financial indsutry. The funding was disclosed in a regulatory filing last week. Xambal raised $5.5 million in Series B funding in 2005 from a group including Jafco Ventures, Mohr Davidow Ventures, and TeleSoft Partners, according to Dow Jones VentureWire.
$1.5 million—The amount of venture funding raised by New York, NY-based music licensing and royalty management startup RightsFlow, which has been acquired by Google for an undisclosed sum. Originate Ventures led the startup’s 2009 Series A round.
$650,000—Seed funding announced last week for San Francisco-based Gain Fitness, a maker of customized, smartphone-based workout plans. The funds came from InterWest Partners, Seraph Group, and individual investors Keith Rabois, Ben Ling, Michael Tanne, and Brent Hurley, among others.