Author: Mark Boslet

Wisegate said it raised $3M in new funding from investors including Atlanta Technology Angels, Cowtown Angel Network, Central Texas Angel Network and Golden Seeds. It also added former Burton Group CEO, Jamie Burton, to its board.

PRESS RELEASE

IT Research Innovator Wisegate Extends Market Leadership with $3M in Funding, New Board of Director Appointment and Major Customer Growth

Austin Innovator on the Move with New Cash Infusion, Appointment of former Burton Group CEO Jamie Lewis to Board of Directors and Marquis Member Acquisition

AUSTIN, Texas–(BUSINESS WIRE)–Austin-based start-up Wisegate, a private, practitioner-based IT research service for senior technology professionals, today announced key company updates including $3M in new funding, the addition of marquis companies to its growing list of world class customers, and the appointment of former Burton Group CEO, Jamie Burton, to its Board of Directors. Wisegate continues to extend its leadership position in IT research innovation by offering the first Information Technology (IT) research service for senior technology professionals that lets them tap directly into the most valuable source of information: the collective intelligence and experiences of their peers.

“We are seeing tremendous momentum on all fronts of the company,” said Sara Gates, Founder and CEO of Wisegate. “Wisegate is extending its leadership position in IT research innovation because we offer something unique in the market. This was strongly validated by a group of investors who see that Wisegate is addressing critical issues that are of great concern to today’s technology leaders.”

Wisegate brought in $3 million of funding from a syndicate of investors including Atlanta Technology Angels, Cowtown Angel Network, Central Texas Angel Network and Golden Seeds. The funding will be used to further expand Wisegate’s member base of senior IT professionals, and to build out new member services.

Wisegate has also added new members from Financial Services, Healthcare, Government, Higher Education, Consumer Goods and other industries. Wisegate Members are senior technology leaders from organizations like, AGCO, Alliance Laundry Systems, Ally Bank, Bank of America, Brown University, CalPERS, Carillion Clinic, CIGNA Corporation, City of Tampa, City of Toronto, Government of Alberta, Houston Healthcare, Longterm Healthcare Partners, Philips Electronics, Samsung and

The Nature Conservancy.

“Often senior technology leaders struggle to get straight answers about IT,” said David Sherry, Chief Information Security Officer at Brown University. “We need to connect to peers, who are the best source of pragmatic information on what works, what doesn’t, and key lessons learned. Wisegate provides that in an innovative, useful way.”

“There’s nothing out there like Wisegate today,” said Jeff Bardin, former CISO, Hanover Insurance and CSO, State Street Bank and well known cyber security expert. “It’s the members that define and make it valuable. Wisegate is definitely filled with experts, people that have suffered through the same things you have, the failures as well as the successes. I’m finding a lot more value in Wisegate than any other service out there.”

In addition, the Company added to its Board of Directors former Burton Group CEO and renowned IT research innovator Jamie Lewis, who brings over 25 years of experience in the IT research industry to the Wisegate Board.

“I am very excited to be joining the Board of Directors of Wisegate,” said Lewis. “Wisegate is revolutionizing the IT industry by putting the collection, curation and communication of valuable information directly into the hands of IT practitioners.”

Wisegate officially launched in December, 2011. Senior technology professionals who are interested in joining this elite group of peers can request an invitation athttp://www.wisegateit.com/request-invite/.

About Wisegate

Wisegate is a practitioner-based IT research service that lets qualified senior technology professionals share information without the bias of analysts, vendors, media or advertisers. Using a crowdsourcing model and advanced algorithms, Wisegate gives these technology professionals trusted, timely, relevant and affordable access to the most authentic intelligence about IT: the collective knowledge and experience of their peers.

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Judicata said it raised $5.8 million in a deal led by Khosla Ventures. Khosla Partner Keith Rabois has joined the board. The news was covered in a blog post and in news stories, including one on TechCrunch. The company is developing a search technology for the legal industry.

Find the blog post here and the TechCrunch story here.

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Cloudswave.com said it raised $500,000 from Istitmar Invest to develop its software as a services marketplace.

PRESS RELEASE

10 Mai 2013 – Casablanca, Morocco –The Services as a Software marketplace, cloudswave.com, announced today that it has received $500,000 in funding from Morocco’s leading Web consortium and angel investors.

Cloudswave (http://www.cloudswave.com/) announced today that it has received $500,000 in funding from Istitmar Invest, a moroccan Pharmaceutics  and Technology leader, to further develop its marketplace.

The managers at Istitmar Invest had previously backed two growing African startups, mubawab.com (real estate portal) and Ad4game.com (a worldwide games and entertainement affiliate network). They decided it was time they added an online marketplace to their portfolio.

Cloudswave CEO Reda Sedrati, comments: “We’re delighted to have the backing of such esteemed investors. It gives credibility to companies such as ours that operate in developed countries with Africa based backoffices. Africa has a lot to contribute to the internet economy, and our team is totally committed to prove this point.”

Discover, compare, Save…

Cloudswave helps SMB owners and Entrepreneurs find the right online services for their needs, and strives to bring them unbeatable prices and exclusive deals on carefully selected online services.
Reflecting positive take-up by its target audience, the company also announced it is now serving 100,000 visitors per month with more than 2 000 products and 50 deals featured on the platform– after just 6 months of operations.

“Going after the international market while operating from Morocco is not the easiest thing to do, but we have managed to build a qualified and dedicated team to develop the project. We also benefit from much lower operational costs” says Reda Sedrati.

ABOUT CLOUDSWAVE

Cloudswave helps SMB’s owners and Entrepreneurs find the right online service for their business needs, and strives to bring them unbeatable prices and exclusive deals on carefully selected online services. Cloudswave can be used as a general directory that guides them among a rich and more competitive web application offer, with detailed descriptions, videos, screenshots and a comparator allowing them to study product features.
PRESS CONTACT

For more information, media materials or access to management, please contact:
Reda Sedrati | CEO: [email protected]

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Conversocial said it raised $3.8 million in round led by Octopus. No other details were available.

PRESS RELEASE

Octopus leads £2.95 million investment round into Conversocial

Significant market opportunity with industry leading technology to help companies engage with their customers on Facebook and Twitter

Existing clients include Groupon, Tesco, Hertz, Barclaycard, Net-A-Porter

Octopus today announced that it has led a £2.95 million investment round into Conversocial, a market leader in social customer service solutions that has already created an impressive client list including Tesco, Waitrose, Barclaycard, Groupon, Hertz and Net-A-Porter.

With consumers increasingly using social media as a channel to communicate with businesses, Conversocial has developed a social media engagement system for customer service teams. The platform enables companies to communicate and respond efficiently to their customers on Facebook and Twitter.

Alliott Cole, a Principal on the Ventures team at Octopus, said: “We’re thrilled to be working with the team at Conversocial as they continue to grow their brand, technology development and US presence. Joshua March is building a really talented team, which is developing a service that meets head on the challenges that retailers and other organisations now face in responding to and interacting with customers through social media. We look forward to helping the team build on the success it has achieved to date.”

Founded in 2009 and headquartered in London and New York, the company has established itself in both the UK and US market partnering with customer service teams to boost their efficiency and help capture customer feedback across social channels. The new investment will be used to drive the company’s US expansion and product development.

“This new funding will allow us to meet the growing market demand for our industry-leading social customer service solutions and lay the groundwork for long-term growth,”Joshua March, CEO of Conversocial, said. “We remain committed to staying ahead of the service and technology curve, and this new investment will allow us to build on our proven track record of success. We look forward to working with the team at Octopus.”

Earlier this year, Conversocial was named a “Cool Vendor” by Gartner, which recognised providers offering IT and business buyers innovative approaches, tools and technologies for creating positive customer service experiences.

Alliott Cole added: “At Octopus we back people and look for entrepreneurs that are building a strong team around them to deliver an industry changing product. This is exactly what Conversocial has done.”

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Redpoint Ventures brought on two VMware executives as entrepreneurs in residence, TechCrunch reports. Javier Soltero was CTO of SaaS & application services at VMware before joining the firm, according to a bio posted on the Redpoint Web site. He came to VMware after the company he co-founded, Hyperic, was acquired by SpringSource, which was acquired by VMware.

Kevin Henrikson came to VMware after the company he worked for, Zimbra, was first acquired by Yahoo and then by VMware, according to his bio.

Here is a link to the TechCrunch story.

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MassChallenge said it selected 128 startups for its 2013 MassChallenge Accelerator Program. The companies come from eighteen states and 11 locations abroad. The four-month accelerator program begins in June.

PRESS RELEASE

MassChallenge Unveils 128 Global Finalist Startups Entering 2013 Accelerator

Boston Community Rallies Around Global Innovators in Show of Massive Engagement

BOSTON, May 22, 2013 /PRNewswire-USNewswire/ – Today, MassChallenge unveiled 128 Global Finalists for the 2013 MassChallenge Accelerator Program at its finalist announcement event. The 2013 class was selected over a six-week evaluation process led by hundreds of industry professionals in the Boston community and dozens in Israel. In June, the finalist companies will convene in Boston to engage in the four-month accelerator program. The 2013 season is poised to draw the most community engagement to date.

“Based on feedback from the judges, this will be the highest-quality MassChallenge finalist pool yet,” said MassChallenge Founder and President Akhil Nigam. “Very high-potential startups from around the world are choosing to join MassChallenge to participate in the uniquely collaborative and engaged Boston startup community.”

MassChallenge increased its class size from 125 to 128 this year as a tribute to Route 128, underscoring the continued innovation renaissance in Boston. The 128 startups hail from eighteen U.S. states and eleven international locations.

“These 128 remarkable startups show the economic vitality of the Innovation District and this city,” says Honorable Thomas Menino, Mayor of Boston. “We welcome these bold thinkers and the creative energy they bring to the strong Boston Community.”

During the rigorous selection process, over 300 globally renowned experts volunteered their time as MassChallenge judges to evaluate ~1,200 applicant companies from 40 countries and 30 states. These judges provided 500,000 words of written feedback during an estimated 3,000 judge-hours of evaluation.

Many key partners from the MassChallenge community attended the announcement event, which highlighted the most engaged partners from the community who helped source applications and secure key resources for the program.

MassChallenge also introduced two new funders, Pfizer and the Richard and Susan Smith Family Foundation, who will join the notable assembly of existing sponsors, including Fidelity Investments, Verizon, The Deshpande Foundation, and Fan Pier.

“Like Pfizer, MassChallenge is a global organization with a mission focused on driving innovation,” says Pfizer Vice President of Worldwide Innovation Wendy Mayer. “We are proud to continue a long tradition of innovation and eager to leverage our resources to support high-impact entrepreneurs alongside our new accelerator partner.”

An abundance of high-profile speakers and mentors engage with MassChallenge finalists throughout the four-month program, including Robert Kraft, Colin Angle, Linda Henry, Dharmesh Shah, Diane Hessan, and many more. The program culminates on October 30 at the MassChallenge Awards Ceremony where winners will be awarded over $1 million in cash prizes.
Links: 
Full Global Finalist List & PDF: http://masschallenge.org/startups/2013

About

MassChallenge is the largest-ever startup accelerator, and the first to support high-impact, early-stage entrepreneurs with no strings attached. Over $1 million in cash prizes is awarded to winning startups, with zero equity taken. Additional benefits for startups include world-class mentorship and training, free office space, access to funding, legal advice, media and over $15 million of in-kind support.

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Swivl said it raised $500,000 from Grishin Robotics. Swivl ran a Kickstarter campaign earlier this year. The money will go toward developing a second generation Swivl video device.

PRESS RELEASE

Grishin Robotics Invests $500K in Swivl to Expand the Reach Of Robotic Video Solutions

San Carlos, CA – May 22nd, 2013 – Grishin Robotics, a global investment company dedicated to supporting personal robotics, has made an investment of $500K in Swivl, the makers of the award winning personal cameraman robotic video device.

The funds will be used accelerate the development of the second generation Swivl, as well as assist with the launch of Swivl’s yet-to-be-announced connected video services. Both the device and services will be launched later this year.

The original Swivl is one of the first products ever successfully crowd funded and delivered to market. It has sold over 10,000 units around the world since launch. While there have been a wide variety of applications found ranging from enterprise telepresence to pet monitoring, it has been the biggest hit with educators. It has already been deployed in over 1,000 schools and 250 universities.  Professors, teachers and even corporate trainers are finding it to be the most convenient and inexpensive way to add video to any learning environment. It’s plugging directly into applications like professional development, lesson and lecture capture, flipped classroom, and distance learning.

“The global educational industry is undergoing huge transforming changes, and robotics plays an increasingly significant role in that process. Swivl represents a rare combination of strong technologies, beautiful design, and affordable price-point – exactly the type of product we are looking for.” said Dmitry Grishin, founder of Grishin Robotics, co-founder & CEO of Mail.Ru Group. “Swivl is very well positioned for disruptive penetration of mass-market educational technologies, taking online-education to a new level by dramatically increasing the amount of published, high-quality video content.”

Unveiled earlier this year in a Kickstarter campaign with over 1000 backers, the new Swivl will introduce iOS/Android tablet support as well as support for DSLR cameras. Tablet support presents a unique capability for customers, as well as SDK partners. The larger display is not only ideal for HD video conferencing interface but as a canvas for real-time data and content interaction.

“We’re really excited to be working with Dmitry and Grishin Robotics.” said Brian Lamb, CEO of Swivl. “He shares our vision for enabling, cost effective robotic solutions and also sees the huge services opportunity they create for multiple applications.  He also has a passion for education, which aligns perfectly with our current focus. ”

About Swivl
Swivl aims to make video more natural, useful and engaging for everyone. We do this with a robotic accessory platform with connected services and robust SDK’s. Swivl believes in the power of video for sharing and archiving information, instruction and collaboration. Swivl is located in San Carlos, CA and was founded in 2010. For more information, visit http://www.swivl.com

About Grishin Robotics
Grishin Robotics is a global investment company that is dedicated to supporting personal robotics around the world. With an initial $25 million to invest in various projects and initiatives, Grishin Robotics is focused on raising the profile of the robotics industry and helping robotics entrepreneurs advance their products and ideas. For more information, visit http://www.grishinrobotics.com

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Orcan Energy GmbH said it raised a second round of financing with E.ON as a new investor. Existing investors Kleiner Perkins Caufield & Byers and Wellington Partners participated in the funding. No additional details were available.

PRESS RELEASE

Orcan Energy GmbH wins E.ON as new Investor and strategic Partner

(München, Düsseldorf, Palo Alto) Orcan Energy GmbH (Orcan), the leader in waste heat recovery technology, concluded its second round of financing in early 2013 with the addition of E.ON as a new industry partner and investor. E.ON broadens Orcan’s already prominent list of investors, worldwide leading venture capital firms Kleiner Perkins Caufield & Byers and Wellington Partners, both of whom were part of the original funding round in 2011 and continued to show their support by participating in this subsequent round. The new partner- ship is considered an important stepping stone on the path to fulfill Orcan’s vision: “To play a vital role in securing an ecological and affordable energy supply by tapping the energy source of waste heat”. Orcan offers E.ON the opportunity to extend its range of integrated solutions for its industrial clients through Orcan’s Organic Rankine Cycle (ORC)-products, the so-called ePacks.

Dr. Urban Keussen, E.ON Senior Vice President Technology & Innovation: “E.ON is constantly seeking out new technology solutions that meet the requirements of our clients and their demand to benefit in a sustainable way, i.e. ecologically and eco- nomically. Orcan’s product, the ePack, offers our clients the opportunity to quickly ac- cess the enormous untapped energy potential of their own easily available waste heat. Additionally, E.ON believes that this new energy solution will be of great interest to potential new clients.”

Dr. Andreas Sichert, CEO of Orcan Energy GmbH: “We believe our ability to win the commitment of such visionary Partners, even in the current difficult climate for start-up financing in the clean energy sector, is strong en- dorsement of our vision and our commitment to realizing it. Our investors sustained support has already allowed us to offer strategically important partners and clients in the industrial and energy sectors attractive solutions to their energy problems. Our ePacks will enable us to radically contribute to the alternative energy revolution, through the development of a cost-effective and sustainable energy supply.”
294 Wörter, Anzahl der Zeichen 2.188 (1.904)Background

Orcan Energy GmbH was founded in 2008, as a spin-out from the Technical University of Munich (“TUM”). Orcan’s ePack offers a compact, service-reduced and cost- efficient “plug-and-play” waste heat power generator based on ORC-Technology. Spe- cific patented innovations enable Orcan to popularize the technology on the mass mar- ket. At the beginning of 2013, Orcan gained sponsorships from the Exist-Research- Transfer-Aid of the Federal Government of Germany and additional grants from the “Wissensfabrik” and various resources from the TUM.

Invigorated by the second round of financing, Orcan will continue to perfect the ePack and will now be able to supply a number of key accounts and sales partners with its products within the year. Additionally, the cash infusion will allow Orcan to refine its delivery chain and upgrade safety and quality standards during assembly in order to facilitate the expected increase in sales.
Waste heat represents one of the largest, untapped energy markets. Worldwide more than 1000 Giga Watt of waste heat are being produced by fixed appliances alone. Until recently, and as a result of deficits in the ORC-Technology, this enormous source of reusable energy, equivalent to the energy volume of 100 million liters of diesel burnt per hour each day, has remained unexploited. Orcan’s ePack and its ORC-Technology finally make this vast supply of energy usable. Many of our clients already produce their own power from “energy waste”, utilizing the technology developed by Orcan, which transfers a sizeable share of waste heat into cost efficient, CO2-free energy. While industrial clients are focused on a sustainable, independent, stable and cheap in- digenous power production, energy suppliers’ primary aim is to sell the auxiliary power. Our technology enables even small biogas stations to easily create additional income generated by their waste heat, leading to a higher return on their investment.

About Orcan Energy

Orcan Energy GmbH is located in Munich, Germany, and is a worldwide leader in the field of „Organic Rankine Cycle“ (ORC)-Technology in small power ranges. The ePack-Technology of Orcan Energy allows waste heat to be exploited in an intelligent way in the process of power generation, and to enhance the energy efficiency of many industrial and energy producing facilities.

About E.ON

E.ON is one of the leading energy companies, acting in the fields of power generation, gas gathering and acquisition, trade, power grid and sales. One third of E.ON’s approx- imately 69 Giga Watt total power generation portfolio comprised low-CO2 output fa- cilities, such as on- and off-shore wind parks. E.ON enterprises include some of the world’s leading enterprises for renewable energies. In addition to energy production, E.ON operates power and gas distribution centers, supplying around 26 million custom- ers with their energy needs. With more than 70,000 employees working in locations throughout Europe, Russia and North America, E.ON posted sales of €113 billion in 2011. E.ON’s goal is to offer its customers innovative solutions while simultaneously adding value for its investors and protecting the environment.

In short: E.ON offers clean and better solutions in relation to energy.

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MessageMe said it raised $10 million in a deal led by Greylock Partners. The round was joined by previous investors, the company said in a blog post. The company received a seed investment in March from True Ventures, First Round Capital, Google Ventures, SV Angel, Resolut.vc, Andreessen Horowitz, Greylock and The Social+Capital Partnership. The company had previously received angel money.

Here is the blog post.

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The Michigan Venture Capital Association said 29 venture capital firms now do business in the state and contributed to the $242 million of invested capital dispersed into 33 deals in 2012. The MVCA says Michigan jumped to the 15th most active state.

PRESS RELEASE

MVCA Research Report: Michigan Jumps to 15th for VC Activity, $242M Invested in 2012

ANN ARBOR, Mich., May 20, 2013 /PRNewswire-USNewswire/ — The Michigan Venture Capital Association’s annual research report, a compilation and analysis of investment activity, shows that 2012 was a banner year for venture capital (VC) in the state.  Compared to the national trend of declining VC funds and activity, funding activity and fund sizes in Michigan continued strong and steady growth last year.  In 2012, Michigan jumped from 25th to 15th in the national VC ranking — one of the largest increases in venture funding last year.

“The data reported in MVCA’s research report tell a compelling story about Michigan’s success in growing and nurturing an innovation-based economy,” said Carrie Jones, MVCA executive director.  “The venture capital community in Michigan continues to mature, with more VC under management among firms here than ever before as well as a steady increase in out-of-state funds establishing a presence in the state.  In tandem, Michigan’s entrepreneurial ecosystem continues to mature and strengthen, and more companies than ever before are attracting VC funding.”

The MVCA data shows that there are 29 venture capital firms doing business in Michigan. In 2012, venture capital firms invested $242 million in 33 deals in Michigan.  An additional $12.5 million in a combination of angel and pre-seed funding was invested into these same deals.

The state has 106 active companies that have received venture capital or angel investment. While the majority of these companies are in the life sciences, the number of companies in other sectors are growing, most notably those focused on information technology.

Growth in Michigan venture funds has been steadily trending upward.  In 2012, the amount invested by VCs, average fund size, capital under management all increased, as did available capital for new investments and the number of investment professionals. This growth has, in part, come from out-of-state funds opening offices in Michigan to tap into Michigan’s growing deal flow.

“Attracting outside investment to Michigan infuses the economy with new money that can help a company grow here,” Jones added.  “Entrepreneurs are taking notice of this trend; Thanks to the successful venture community in Michigan, more entrepreneurs are considering the state as a destination to locate and grow their business.”

About the Michigan Venture Capital Association 
The MVCA is a non-profit trade organization designed to bring together venture capital industry participants in the state of Michigan. The organization’s goal is to grow and sustain a vibrant venture capital community in Michigan. Membership includes private venture capital funds, corporate venture capital funds, private equity firms, angel investors, and entrepreneurial infrastructure participants. The MVCA is a vehicle to bring together industry participants and to provide a concerted voice for Michigan’s venture capital industry. For more information, visit www.michiganvca.org.

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Aspen Aerogels, Inc. said it raised $22.5 million in a convertible note financing and has decided not to pursue an initial public offering. The company said it will withdraw its S-1 registration statement.The new money will be used for working capital.

PRESS RELEASE

Aspen Aerogels Announces $22.5 Million Private Placement

NORTHBOROUGH, Mass., May 17, 2013 /PRNewswire/ — Aspen Aerogels, Inc., a leading provider of aerogel insulation, announced it has successfully raised $22.5 million in its latest convertible note financing. The funds will be used for working capital to support revenue growth and for capital expenditures to improve the efficiency and throughput of existing manufacturing assets. This round brings Aspen’s total funds raised through issuance of convertible notes to more than $80 million.

“This financing is expected to provide Aspen with sufficient funding to continue to grow our business to meet increasing demand for our aerogel blankets. We also remain laser focused on improving our profitability while investing for growth,” said Don Young, President and CEO of Aspen Aerogels, Inc.

In conjunction with the recent financing, Aspen has decided not to pursue an initial public offering at this time. The company intends to withdraw its registration statement on Form S-1 as filed with the Securities and Exchange Commission.
“We believe our recent financing provides Aspen with the financial flexibility to pursue a range of financing and strategic opportunities in the future,” said Mr. Young.

Aspen Aerogels is a leading provider of industrial aerogel insulation, which delivers maximum thermal protection with minimal weight and thickness. Its flexible blanket form is up to five times thinner than traditional insulation products, saving space and total installed cost on piping, vessels, tanks and equipment. Aspen’s insulation product line is used in industrial facilities worldwide on applications ranging from -460 degrees F (-270 degrees C) to 1200 degress F (650 degrees C) and in wall-systems for commercial and residential buildings.

About Aspen Aerogels, Inc.

Aspen Aerogels (www.aerogel.com) supplies reinforced, flexible aerogel insulation products that provide up to five times the thermal performance of other widely-used insulation materials. Aspen’s aerogel insulation delivers thermal and other benefits that enable customers to conserve energy and save money in many industries including oil and gas production and processing, LNG transportation and storage, building and construction, outdoor apparel, appliances, transportation, military and aerospace. Headquartered in Northborough, Mass., Aspen manufactures its Cryogel®, Pyrogel® and Spaceloft® products at a state-of-the-art, high-capacity plant in East Providence, R.I.

The securities offered in the private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws.  Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.

This press release does not constitute an offer to sell or a solicitation of an offer to buy securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.

This press release contains “forward-looking” statements about Aspen Aerogels and its products and technology.  Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.  These risks and uncertainties include, among other things, the possibility that Aspen Aerogels’ future funding requirements or financial performance, including cash from operations, will not meet its expectations, and that demand for its products will be less than anticipated.  Aspen Aerogels assumes no obligation to update the forward-looking statements contained in this release as the result of new information or future events or developments.

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Apptio said it raised a $45 million Series E round of funding led by Janus Capital, the Hillman Company and an unnamed institutional investor. The round was joined by existing investors Andreessen Horowitz, Greylock Partners, Madrona Venture Group, Shasta Ventures, and accounts managed by T. Rowe Price Associates. The new round brings the total raised to $136 million.

PRESS RELEASE

Apptio Closes $45 Million Series E Funding Round

New Investors Join Existing Investors to Accelerate Apptio’s
Market Leadership of the Emerging TBM Category

BELLEVUE, Wash. – May 15, 2013 – Apptio, the leading provider of on-demand Technology Business Management (TBM) solutions, today announced it has closed a $45 million Series E funding round. Led by new investments from funds managed by Janus Capital, The Hillman Company, and an unnamed global institutional investor, the round also included additional funds from existing investors Andreessen Horowitz, Greylock Partners, Madrona Venture Group, Shasta Ventures, and certain accounts managed by T. Rowe Price Associates, Inc. The Series E round brings the total amount raised by Apptio to $136 million.

Plans for the new capital include further investment in the company’s fast-growing technology platform, expanding Apptio’s international presence—most immediately in Western Europe—and accelerating growth of the emerging TBM category.

Information technology (IT) in large enterprises is undergoing a fundamental shift as rapid changes in cost structures and business models—cloud computing, for example—meet higher expectations from business executives. IT costs are moving from fixed to variable, computing assets are shifting from owned to shared, and business executives increasingly expect the CIO to play a more strategic role, spending less resources “keeping the lights on” and more on innovation that drives the business forward.
“In the midst of this services transformation, TBM is a must-have set of business management applications and analytics for Global 2000 enterprises,” said Apptio founder and CEO Sunny Gupta. “Every CIO needs to understand and measure the cost, quality and value that IT delivers to the business—and be able to communicate them in terms that matter to the CEO and the CFO.”

Apptio established the TBM category and is the only provider completely focused solely on it. This dedicated, unbiased approach has won subscriptions from 29 of the Fortune 100 companies in the three years since Apptio entered the market, and enabled the company to play a seminal role in the founding of the TBM Council, a non-profit group of more than 600 IT executives committed to advancing the discipline.

“Every other executive in the enterprise has a purpose-built system for managing their business,” said Kurt Shintaffer, co-founder and chief financial officer of Apptio. “We’re delivering the system for the CIO, and we’ve combined it with a proven methodology and a strong community of leaders who are literally writing the book on best practices.”

Since closing its Series D round in March 2012, Apptio has demonstrated momentum across all facets of its business. The company’s revenues nearly doubled in 2012, with customers coming in from nearly every industry vertical—Apptio now has more than 125 global enterprise customers including Boeing, Royal Bank of Scotland, Safeway, Target and Xerox. In response to increased market demand, Apptio has also nearly tripled its employees from 115 in December 2010 to nearly 350 today.

About Apptio

Apptio is the leading independent provider of on-demand Technology Business Management (TBM) solutions for managing the business of IT. Apptio enables IT leaders to manage the cost, quality and value of IT Services by providing deep visibility into the total cost of IT services, communicating the value of IT to the business through an interactive Bill of IT™, and strategically aligning the planning, budgeting and forecasting processes. Apptio’s TBM solutions play a critical role in helping companies understand and drive chargeback, virtualization, cloud and other key technology initiatives. Global enterprise customers such as Bank of America, Boeing, JPMorgan Chase, Microsoft, St. Luke’s Health System, and Swiss Re rely on Apptio® products and services to reduce costs and align IT with business priorities. For more information, visit the Apptio website or the Apptio blog.

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Updater said it raised about $5 million in a Series A round led by SoftBank Capital and IA Ventures. The company did not disclose its other investors. It said the money would be used to hired, expand technology resources and for marketing.

PRESS RELEASE

Updater Makes Moving Fun, Convenient and Stress Free

Fastest Growing Website in Relocation Industry Raises $5M from SoftBank Capital, IA Ventures and others

Americans Can Rest Easy with this Exclusive Free Service

New York, May 15, 2013 — Widely considered one of life’s most stressful moments, moving homes is commonly fraught with overwhelming decisions, unforeseen roadblocks and unexpected costs. Enter Updater.com, the one-stop solution enabling families and individuals to update all of their personal accounts and records, connect home services and change of address, all from one easy-to-use free website.

Updater announced today that it has raised approximately $5 million, including a Series A financing round led by SoftBank Capital and IA Ventures. The company plans to invest in first-class talent, technology resources and marketing.

David Greenberg, Updater’s CEO and Founder commented, “We’re thrilled to partner with SoftBank and IA, who share our vision to reinvent address change and simplify the moving process. We have introduced seamless technology for the 40 million Americans who relocate each year to securely manage vital information and update it all with a touch of a button. Fueled by our growing partnership base, we’re excited by the opportunity to provide free services and a rich user experience to a demographic who, during this brief period, have both disposable income and flexible loyalties.

“Before Updater, people were forced to inefficiently notify dozens of businesses and service providers when they were preparing to move,” said Joe Medved, Partner at SoftBank Capital. “Updater is a game changer for people moving- it helps them stay organized and save time and money.”

Ben Siscovik, General Partner at IA Ventures added, “Updater’s data enables businesses and organizations to maintain an accurate database of customers, alumni or constituents. Thousands of businesses and organizations already accept Updater’s near real-time address change updates and those numbers continue to rise each month. We look forward to working closely with the Updater team to grow the business.”

About Updater
Modern moving begins with Updater, the fast and free way to update accounts with a new address in just a few clicks. Easily schedule cable, electric, and other utilities to be transferred to your new home. File your official mail forwarding form with the USPS. Plus, get access to exclusive discounts through our extensive network. Updater helps relocating families and individuals simplify the moving process, saving them time and money. Visit www.updater.com for more information.

About SoftBank Capital
SoftBank Capital makes early and growth stage investments in companies that connect people, devices and the world. SoftBank Capital invests in category leaders in consumer and enterprise mobile, online advertising, ecommerce, social media and cloud computing.  We have been making investments since 1995, with recent exits including Bluefin Labs, Buddy Media, Hyperpublic, Huffington Post, OMGPOP, Pivot and ZipList. Our investors include SoftBank Corp., which introduced the iPhone to the Japanese market and recently announced the strategic acquisition of Sprint; and Yahoo! JAPAN, the largest search engine and content portal in Japan. To learn more, visit www.softbank.com.

About IA Ventures
IA Ventures is an early-stage venture capital firm that invests in companies creating competitive advantage through data. We believe that using data as a core asset will drive innovation in everything from storage and processing infrastructure to analytics to data-driven products and services. With that in mind, we focus on businesses that use cutting-edge technology to manage and extract value from today’s massive, occasionally unstructured, often real-time datasets. For more information, please visit www.iaventures.com.

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Atlantis Computing said it raised $20 million in a Series D round of funding led by Adams Street Partners and joined by existing investors Cisco Systems, El Dorado Ventures and Partech International. The company said it has now raised a total of $35 million in funding.

PRESS RELEASE

Atlantis Computing Raises $20 Million Funding Round

New Investor, Adams Street Partners, Leads Funding for Leader in Data Center Storage Optimization

Mountain View, CA – May 15, 2013 – Atlantis Computing™, the award-winning leader in data center storage optimization solutions, announced today the completion of a $20 million Series D financing round led by new investor Adams Street Partners. Previous investors Cisco Systems, El Dorado Ventures and Partech International also participated in the financing, continuing their commitment to Atlantis Computing. The funding will be used to support the company’s worldwide expansion.

“Adams Street Partners has been looking to invest in the growing virtualization market for some time, and we are excited to come on board with Atlantis Computing,” said Dave Welsh, Partner at Adams Street Partners and a member of Atlantis Computing’s board of directors. “We were impressed by several aspects of Atlantis Computing’s business, including its proven award-winning technology, strong go-to-market partnerships and fast-growing blue-chip customer base. We realized that Atlantis Computing is dramatically impacting the way storage will be consumed in the next generation virtual data center.”

Atlantis Computing is behind the largest and most successful desktop virtualization deployments in the world. Atlantis Computing more than tripled its customer base over the past year, and now has over 250 customers with more than 300,000 licenses sold. Learn more at http://www.atlantiscomputing.com/pr_20130226b.

“We took our first round of funding from venture capital investors in 2010, but have funded our growth through our customers’ business. We built a solid foundation for growth that helped us quadruple the business over the last two years,” said Bernard Harguindeguy, President and CEO of Atlantis Computing. “Funds from this latest round will be used to accelerate our worldwide expansion as we continue delivering on our vision of highly optimized storage infrastructure in the virtualized data center.”

Atlantis Computing was founded in 2006 with the vision of optimizing the way storage is consumed in the virtual data center. Its solutions eliminate the dependency on high performance and close proximity storage to enable any application to run on-demand with any storage – effectively decoupling the application from storage just as the hypervisor decoupled the application from the server hardware. Today, Atlantis ILIO is the only solution on the market that enables both Virtual Desktop Infrastructure (VDI) and virtualized XenApp to run entirely in-memory without physical storage. Atlantis ILIO will be available soon for cloud-scale deployments of virtual servers such as databases, collaboration and mail servers.

Earlier this year, Atlantis Computing released Atlantis ILIO Persistent VDI 4.0, the first solution that enables Citrix XenDesktop and VMware View customers to deliver persistent virtual desktops that are cheaper and faster than physical PCs right away while using their existing images, tools and processes. To view the product press release: http://www.atlantiscomputing.com/pr_20130226

About Atlantis Computing
Atlantis Computing, winner of the prestigious Best of VMworld and Best of Citrix Synergy awards, addresses the challenges of storage-intensive applications in private and public clouds: performance, cost, disaster recovery, and the ability to scale-out on demand. Atlantis ILIO software complements virtualization solutions from Citrix, Microsoft and VMware to optimize the use of data center storage by virtualized desktops and servers, automate large scale deployment and management, and lower implementation risks. Atlantis Computing is privately held and funded by Adams Street Partners, Cisco Systems, El Dorado Ventures and Partech International, with headquarters in Mountain View, California and offices in Europe. For more information, visit: www.atlantiscomputing.com or follow us on Twitter @AtlantisILIO.

About Adams Street Partners
Adams Street Partners is one of the largest managers of private equity investments for institutional investors around the world with more than $25 billion in assets under management. The firm operates as one cohesive global team, integrating expertise in three disciplines: primary, secondary and direct investments. Adams Street has a comprehensive perspective on the industry through its established relationships and experience in the private equity industry. Over the past four decades, the team at Adams Street has grown to 120 individuals based in five offices around the world — Chicago, London, Menlo Park, Beijing and Singapore. For more information, visit: http://www.adamsstreetpartners.com.

# # #

Atlantis Computing, Atlantis ILIO and Atlantis ILIO Diskless VDI, In-Memory VDI, Atlantis ILIO for XenApp, Atlantis ILIO FlexCloud and Atlantis ILIO Persistent VDI are trademarks of Atlantis Computing, Inc.  All other trademarks and registered trademarks are the property of their respective owners.

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Acacia Communications said it raised $20 million in a round led by Summit Partners and joined by existing investors Matrix Partners , Commonwealth Capital Ventures and Egan Managed Capital. Summit Partners Managing Director Peter Chung  will join the company’s board.

PRESS RELEASE

ACACIA COMMUNICATIONS CLOSES $20 MILLION IN NEW FINANCING

Summit Partners leads investment and joins Acacia’s Board

Maynard, MA, May 15, 2013: Acacia Communications <http://www.acacia-inc.com/> , the leader in delivering intelligent transceivers for ultra-high speed fiber optic transmission to the telecommunications infrastructure industry, announced today that it has closed a new $20 million round of financing with Summit Partners serving as the lead investor. Existing investors Matrix Partners , Commonwealth Capital Ventures and Egan Managed Capital also participated in the round. Summit Partners Managing Director, Peter Chung , will join Acacia’s Board of Directors.

“We are pleased to have a new investor of the caliber and reputation of Summit Partners join our existing group of top-tier investors,” said Acacia President and CEO Raj Shanmugaraj. “Enthusiastic investor support culminates an exciting year of growth across all dimensions of our business and validates the market momentum we’ve established in the fast-growing coherent 100G transceiver market. Acacia has developed fundamentally innovative technologies that dramatically drive down the costs, size and power of high-speed fiber optics communication equipment. We will continue to expand into multiple market segments through the development of new products, as we position the company for long-term growth.”

Peter Chung, a Managing Director of Summit Partners said, “We believe Acacia has the team, the technology and the track record of execution necessary to deliver industry-leading solutions to its customers and superior financial performance for investors. The company is very well- positioned to lead the optical networking industry into the 100G era. We look forward to partnering with the Acacia team and the current investors in support of the company’s long-term growth strategy.”

Shamim Akhtar, Senior Director of Network Strategy at Comcast pointed to 100G deployments as growing rapidly in their network due to compelling economics compared to 40G or even 10G. “Comcast requires flexible, scalable and cost-efficient solutions that are enabled by coherent technologies and optimized photonic integration, where constant innovation is needed,” he said.

Acacia will utilize the new round of funding to execute its long-term growth strategy and   deliver innovative solutions as the company expands into multiple markets and develops and/or acquires core technologies.
Acacia’s industry-leading, coherent OIF-compliant AC100 modules provide unmatched optical performance for data center operators, cable operators and service providers.  The company recently announced that it had significantly expanded its worldwide headquarters in Maynard, MA, tripling its lab facilities to accommodate robust growth in its customers and employees.

About Acacia Communications:

Acacia Communications Inc. was founded by prominent industry experts Mehrdad Givehchi, Benny Mikkelsen and Christian Rasmussen. Acacia provides advanced solutions to the optical transport and network infrastructure equipment market for coherent 100G, 200G, 400G and beyond transceivers.  By working in close collaboration with customers and suppliers, Acacia designs, manufactures and sells leading-edge optical transponder technology that enables customers to reduce overall development costs while increasing performance and reducing time to market. As worldwide network bandwidth continues to grow exponentially, Acacia is committed to continuing to build transformative products to meet the demand for the expanded adoption of 100G based systems globally, with leading performance solutions at the lowest total cost to market of any solutions in the industry. Acacia is headquartered in Maynard MA and has an office in Hazlet, New Jersey. For more information about Acacia, go to www.acacia-inc.com.

About Summit Partners:
Summit Partners is a growth equity firm that invests in rapidly growing companies. Founded in 1984, Summit has raised nearly $15 billion in capital and provides equity and credit for growth, recapitalizations and management buyouts. Summit has invested in more than 365 companies globally in technology, healthcare, and other growth industries. These companies have completed 130 public offerings, and more than 135 have been acquired through strategic mergers and sales. Notable investments in the communications technology sector include Accedian Networks, E-TEK Dynamics, Finisar, Hittite Microwave, M/A COM Technology Solutions and Ubiquiti Networks, among others.

In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners Limited, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners Limited is a limited company registered in England and Wales with company number 4141197, and its registered office is at 20-22 Bedford Row, London, WC1R 4JS. UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

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Omidyar Network said Mike Kubzansky has joined the philanthropic firm in the newly created role of vice president, intellectual capital. Kubzansky will be based in Washington D.C. and lead efforts to analyze trends in philanthropy and impact investing. He was formerly a partner at the Monitor Group.

PRESS RELEASE

Omidyar Network Appoints Kubzansky Vice President, Intellectual Capital

REDWOOD CITY, Calif., May 14, 2013 /PRNewswire/ — Omidyar Network today announced that Mike Kubzansky has joined the philanthropic investment firm in the newly created role of vice president, intellectual capital.  Based in Washington D.C., Kubzansky will lead efforts to identify, analyze and articulate the significant trends and developments in philanthropy and impact investing and couple them with the insights gained through Omidyar Network’s global work across five initiatives. Kubzansky was formerly a partner with Monitor Group (now Monitor Deloitte), where he co-founded and led Monitor’s Inclusive Markets practice from 2007 until he left to join Omidyar Network.

“I am delighted to have Mike join Omidyar Network,” said Matt Bannick, Omidyar Network’s managing partner.  “Mike is a published thought leader with deep expertise in impact investing and businesses serving the needs of the world’s poorest populations.  We will benefit greatly from his substantial experience and insights across the private and public sectors.”

While at Monitor Group, Kubzansky’s clients included commercial firms, investors, donor agencies and foundations.  He has consulted, researched, and published extensively on market-based solutions to poverty across emerging markets.  His work has appeared in a range of publications, including as articles in HBR, books published by Brooking Institution Press and reports sponsored by The Bill & Melinda Gates Foundation. Between stints at Monitor, Kubzansky spent six years at the World Bank Group.  He holds an M.B.A. from Northwestern University and an undergraduate degree from Brown University.

ABOUT OMIDYAR NETWORK

Omidyar Network is a philanthropic investment firm dedicated to harnessing the power of markets to create opportunity for people to improve their lives. Established in 2004 by eBay founder Pierre Omidyar and his wife Pam, the organization invests in and helps scale innovative organizations to catalyze economic and social change. To date, Omidyar Network has committed more than $611 million to for-profit companies and non-profit organizations that foster economic advancement and encourage individual participation across multiple investment areas, including entrepreneurship, financial inclusion, government transparency, property rights, and consumer Internet and mobile. To learn more, visit www.omidyar.com.

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Foley & Lardner LLP said it raised $2.6 million for Foley Ventures Fund II, a venture capital fund that invests in or with its clients. The law firm has now raised $6.6 million between its first and second funds and invested in 32 clients. The law firm runs the Chicago based incubator Catapult Chicago.

PRESS RELEASE

FOLEY RAISES $2.6 MILLION FOR NEW SECOND VENTURE CAPITAL FUND

Foley & Lardner LLP announced today that Foley VenturesSM Fund II, a venture capital fund exclusively dedicated to investing in or with Foley clients, successfully raised $2.6 million from its partners. Combined with the firm’s initial venture capital fund, Foley Ventures Fund I, the firm’s partners have raised a total of $6.6 million and invested in 32 clients.

The development of the Foley Ventures funds is a direct result of the firm’s extensive venture capital and private equity experience and insight gained through working with numerous funds and emerging growth companies. The firm’s partners recognized that clients need more than legal insights to succeed and funded Foley Ventures Funds I and II to invest in – or alongside – them.

“Establishing Foley’s active venture capital funds has proved to be very important in supporting our clients in their pursuit of capital to grow their businesses or to invest in promising early-stage businesses,” said Gabor Garai, chair of the firm’s Private Equity & Venture Capital Practice. “By having a vested financial interest in our clients’ businesses, we have demonstrated our commitment to their success by literally putting our money where our mouths are.”

Foley Ventures funds are designed to simplify the investment process. When an attorney is working with a venture fund client, Foley Ventures will invest in a portfolio company, which is projected to have adequate cash flow after the investment, for at least one year. For start-up or emerging companies, the fund will invest if the company receives a simultaneous investment from a professionally managed venture fund or angel group, and if adequate cash flow for one year is projected. Foley Ventures Fund II also allows for investment in other venture capital or private equity funds that are managed or sponsored by clients.

Foley attorneys across all practices ranging from intellectual property to government regulations, in any U.S. or international office, are free to submit qualified investment opportunities regardless of whether or not they invested in Foley Ventures. This provides the fund with an extensive and diverse deal flow.

Foley’s Private Equity & Venture Capital Practice is comprised of more than 200 attorneys focused on the full range of public and private debt and equity vehicles and their investment activities. By offering an array of legal services, including intellectual property, employee benefits, tax, finance, real estate and corporate transactions, attorneys can assist angel, private equity and venture capital funds with all aspects of their business from fund formation to exit strategy. Foley Ventures further enhances the high caliber of service the firm provides to clients and is among many service offerings available through the Private Equity & Venture Capital Practice.

About Foley & Lardner LLP
With approximately 900 attorneys in 21 offices, Foley & Lardner LLP provides award-winning business and legal insight to clients across the country and around the world. Our team-based approach, innovative technology, and focus on value and client service are continually recognized by our clients and the legal industry. Foley has been named one of the elite BTI Client Service 30 for nine of the past 10 years in a survey* of Fortune 1000 corporate counsel. In addition, Foley received 20 national first-tier rankings on the 2013 U.S. News – Best Lawyers® “Best Law Firms” list and was named to the 2012InformationWeek 500 list for technological innovation that enhances business value. Learn more at Foley.com.
*The BTI Consulting Group (Wellesley, MA)

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LiquidSpace said it raised $1.3 million as a follow-on to a $6 million Series B round completed earlier this year. The funding comes from two new strategic investors, Steelcase and CBRE Group, Inc. In January the company raised $6 million in a deal led by The GPT Group and joined by Shasta Ventures, Floodgate Fund and Greylock Capital. Total funding is now $12.385 million.

PRESS RELEASE

LiquidSpace Secures Additional $1.3 Million In Series B Funding

SAN FRANCISCO, May 9, 2013 /PRNewswire/ – LiquidSpace, the web and mobile platform that helps everyone find on-demand office and meeting space, today announced it has raised a follow-on of $1.3 million to the $6 million Series B funding raised earlier this year. The funding comes from two new strategic investors – Steelcase and CBRE Group, Inc., global leaders in workplace strategy and commercial real estate.

As companies increasingly reevaluate their workplace strategies, demand for LiquidSpace’s enterprise solutions continues to grow. LiquidSpace is helping large enterprises turn underused real estate into a collaborative asset with a simple internal reservation solution, while simultaneously allowing their employees to tap into the most diverse network of on-demand publicly available work and meeting spaces. LiquidSpace enterprise customers are then using the rich data set generated to make smarter workplace decisions based on real utilization data.

“We are thrilled to have the support of Steelcase, the global leader in the office furniture industry and CBRE, the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue), as we work with Fortune 500 companies to provide a clean, simple solution for evolving their real estate portfolio and workplace strategy,” said Mark Gilbreath, founder and CEO of LiquidSpace. “We look forward to leveraging their insights and experience to advance a demand-driven model that reduces costs for companies and provides employees with more choices and reliable workspace options.”

CBRE is the world’s largest commercial real estate services and investment firm, serving real estate owners, investors and occupiers through more than 300 offices worldwide.

Steelcase is the global leader in the office furnishings, products and services industry. For over 100 years, Steelcase has been bringing human insight to business by studying how people work, wherever they work.
“Many of our biggest customers are undertaking a real estate transformation and our investment in LiquidSpace reflects how critically important alternate space is to enable this change,” said Sara Armbruster, VP Corporate Strategy and WorkSpace Futures at Steelcase. “We look forward to sharing our insights into workplace evolution with the LiquidSpace team as it continues to evolve its platform.”

In January 2013, LiquidSpace raised $6 million in Series B funding led by The GPT Group (ASX:GPT), a top real estate trust (REIT) with participation from existing investors Shasta Ventures, Floodgate Fund and Greylock Capital. Prior to the Series B, LiquidSpace raised $1.3 million in a seed round led by Reid Hoffman of the Greylock Discovery Fund and Mike Maples of FloodGate, followed in May 2011, by a $3.785 million Series A round led by Shasta Ventures. The company’s total funding to date is $12.385 million.

LiquidSpace has facilitated over 200,000 reservations across its network of over 2,000 private and public workspaces in 250 cities nationwide. The company is rapidly fueling expansion of its service through initiatives with corporate partners to serve the needs of mobile business workers. LiquidSpace will continue to drive innovation for both professionals and enterprises through its growing marketplace and enterprise services.

About LiquidSpace

Founded in 2010 and based in San Francisco, LiquidSpace is a real-time marketplace that enables anyone to find and book a space to work or meet by the hour or day. LiquidSpace serves two sets of customers: modern professionals who use the platform to book office or meeting space instantly and companies who use LiquidSpace to manage their workforce’s workspace needs both internally and externally. Whether a coworking venue, business center, hotel lobby, library or private office, LiquidSpace helps business people find, book, and share over 2,000 great workspaces and meeting rooms in over 250 cities across the US. For more information, visit:http://www.LiquidSpace.com

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Allegis Capital has begun raising a special opportunities fund, according to a filing with the Securities and Exchange Commission. The firm did not offer a target size for Allegis Special Opportunities Fund or list which partners will be associated with it. The fund has not yet had a closing, the document states.

Here is a link to the filing.

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eFuneral said it raised $250,000 from nonprofit venture outfit JumpStart Inc. The eFuneral’s website lets consumers compare funeral home prices and reviews.

PRESS RELEASE

JumpStart Invests $250,000 in eFuneral

Comprehensive Online Resource Simplifies End-of-Life Planning

CLEVELAND, May 8, 2013 /PRNewswire/ — eFuneral (www.efuneral.com), a comprehensive online end-of-life planning resource, has received a $250,000 investment commitment from nonprofit venture development organization JumpStart Inc. (www.jumpstartinc.org). The company’s free tools and support enable those thinking about end-of-life to make the best funeral decisions for their budget.

“End-of-life planning encompasses everything from choosing appropriate caregiving services and planning a funeral to dealing with cemeteries and insurance companies,” says Mike Belsito, Co-Founder, eFuneral. “At times, navigating all of these entities can be complicated, frustrating and expensive. Our goal is to simplify this often-difficult process, in order to save people time and money, and give them and their loved ones peace of mind.”

eFuneral’s website offers a suite of free services to help users make informed decisions about end-of-life plans, including a tool to help users compare funeral home prices and reviews, and an educational resource center with topical articles and video. The company has also developed and vetted partnerships with external organizations to connect interested users with estate planners, insurance companies, funeral homes and cemeteries, as well as companies that can facilitate funeral financing.

“Prior to the existence of eFuneral, the end-of-life marketplace lacked an organized single source of relevant, easy-to-understand information,” says JumpStart Venture Partner Mark Smith. “However, the company’s offerings are flexible to an individual’s specific needs, comprehensive enough to cover all aspects of the planning process and clearly organized on a well-designed website. The combination of these traits makes eFuneral a unique and valuable resource, and positions them for significant growth.”

eFuneral will use the investment to ramp up sales, promotion and online marketing, and continue to develop its website and other product offerings.

EFUNERAL eFuneral provides free support and information to those thinking about end-of-life. With eFuneral, individuals can quickly and confidentially find, compare and select a funeral home based on location, price, ratings and reviews. There is no cost or obligation associated with eFuneral’s services. eFuneral is a private company based in Cleveland, Ohio. To learn more about eFuneral, visitwww.eFuneral.com.

JUMPSTART INC. JumpStart accelerates the successes of diverse entrepreneurs, their companies and the ecosystems supporting them. Since 2004, the nonprofit development organization has given intensive business assistance to more than 380 entrepreneurial clients and been an investor in 72 early stage Northeast Ohio companies. For more information on the nonprofit development organization, visitwww.jumpstartinc.org and follow @JumpStartInc on Twitter.

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