Apptio Nabs $16.5M, Zillow Partners With Apartments.com, MOD Systems Raises $6M More Despite Executive Controversy, & More Seattle-Area Deals News
As summer draws to an end, the deals seem to be trickling back in. Take a look at the highlights from the past week.
—Bellevue, WA-based technology business management developer Apptio raked in $16.5 million in Series C financing led by continuing investor Shasta Ventures. The four-year-old company, which designs software to help businesses manage the cost, quality, and value of IT services, saw a 300 percent growth in its bookings over the last year. And with money still in bank from both its $7 million Series A in 2007, and $14 million Series B in August 2009, analysts are starting to speculate whether the company may be getting ready for an IPO.
—Marketfish, an online marketing startup out of Seattle, raised $1.5 million in financing in a round led by Rustic Canyon and Accelerator Ventures. As part of the deal, Rustic Canyon principal Neal Hansch joined the company’s board of directors, and Accelerator Ventures’ founder and managing partner Alex Lloyd came on as a board observer. Marketfish provides e-mail and direct mail lists of potential customers for marketing agencies to purchase or rent.
—Seattle-based real estate website, Zillow.com, formed a partnership with Chicago-based Apartments.com, giving Zillow syndication of Apartments.com’s national database of 90,000 managed apartment rental listings. The partnership brings the total number of listings for single-family homes and apartments on Zillow to 150,000. Financial terms of the deal were not disclosed.
—Digital-media delivery systems developer MOD Systems raised $6 million in a round led by current investors, a lifeline in the Seattle-based company’s rocky history over the last two years stemming from co-founder and former CEO Mark E. Phillips’ very public indictment proceedings. The company develops technologies that allow consumers to purchase digital movies, TV shows, and music, and load them onto SD cards portably through touch-screen kiosks.