The Xconomy SF Six: Big Name Investors, Funding for Clarizen, and More

5/23/14Follow @xconomy

Here are the top six things we’re paying attention to in the San Francisco tech scene this week.

iRhythm Technologies, maker of technology to improve the diagnosis of heart arrhythmia, announced a $17 million Series E round led by life science investment firm Novo A/S. The company plans to use the funds in part to establish clinical evidence for its Zio Service, a heat monitor patch and proprietary algorithm combo that the company claims can catch arrhythmias for early diagnosis.

–Back in January, IndieGogo announced a Series B funding round of $40 million. This week, the crowdfunding platform announced new investments from big names including Virgin’s Richard Branson, PayPal founder co-founder Max Levchin, Megan Smith, vice president at Google[x], Maynard Webb, chairman of the board at Yahoo, and others. Investment amounts were not disclosed.

–Machine data analytics company Sumo Logic has raised $30 million in a funding round led by Sequoia Capital. The company plans to use the money to fund its global expansion.

–Earlier this week, Mimosa Networks, the Campbell, CA-based company working to build new radio technology to disrupt the outdoor wireless industry, announced a $20 million Series C funding round led by repeat investor New Enterprise Associates. The company plans to use the funds to continue developing its products, which it has not yet released. To date, Mimosa has raised $38 million.

–On Wednesday, work collaboration software maker Clarizen announced a $35 million Series F funding round led by Goldman Sachs & Co, bringing total funding to $90 million. The company also said it has recently added more than 200 new customers, including Electronic Arts and Sony.

– Yet another celebrity jumps into Silicon Valley as Grey’s Anatomy’s Patrick Dempsey invests in health tech startup CrowdMed, which aims to use crowdsourcing to help patients with undiagnosed diseases. The amount of Dempsey’s investment was undisclosed, but to date, the company has raised a total $2.4 million. Other investors include NEA, Andreessen Horowitz, Greylock Partners, SV Angel, Khosla Ventures, and Y Combinator.

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