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Posts Tagged ‘million-funding’

Cloudmark, a provider of messaging security solutions, has scored a massive $23 million funding round led by new investor Summit Partners and joined by Nokia Growth Partners, the mobile giant’s venture capital investing arm.

Existing investors Ignition Partners and Industry Ventures also participated in the round, which is the first financing Cloudmark has closed since 2004, when it raised $11 million from multiple VC firms. The new funding is said to have been used to assist in Cloudmark’s acquisition of former rival Bizanga.

Cloudmark’s specializes in spam, phishing and virus protection software for wired and wireless networks. The company, founded in 2001, claims to currently protect over one billion inboxes in over 190 countries around the world. Cloudmark says it counts over 100 of the world’s largest service providers, including more than 75 percent of all major service providers in the United States and Japan, among its customers.

On its impressive client reference list: Cablevision, Comcast, Cox Communications, EarthLink, Swisscom, Tele2, XS4ALL (KPN), as well as social networking company MySpace. Cloudmark is privately held, is headquartered in San Francisco and boasts offices in London, Tokyo, Beijing and Hong Kong.

Project Fair Bid, a stealth startup that is creating a Swoopo-like Auction platform, has raised $4.5 million in funding, according to a SEC filing. The funding was raised from the Mayfield Fund, First Round Capital, and Foundation Capital, with Raj Kapoor, Charles Moldow and Josh Kopelman joining the board of directors.

Details on Project Fair Bid are limited but we hear the startup hopes to reinvent and legitimize the Swoopo business model by using a different auction methodology to improve consumer engagement and retention. Swoopo’s business model has been criticized for its alternative bidding system.

Swoopo uses a unique pricing model that lets you to purchase virtual “bids” for 75 cents, which can then be used to bid on goods ranging from video games to high-end televisions. Whenever you bid on an item, its price increases by fifteen cents and an extra 20 seconds are tacked on to the duration of the auction. Oftentimes items wind up selling substantially below their market value, but this lower price comes with some risk: if you bid on an item, you don’t get that 75 cent bid back when the auction concludes. Even if the item winds up selling below its normal market price, Swoopo can make money from these bids (the site does sometimes lose money on an auction, but relies on the proceeds of other auctions to cover them).

But Swoopo may be on to something—since launching in late 2008, the site has grown to almost 2 million members in Canada, Germany, the U.S., Austria, and Switzerland and closed a $10 million funding round led by August Capital.

Photo credit/Flickr/walkinboston.

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We briefly pointed this out in our longer post on Google Latitude launching on the iPhone, but it’s worth pointing this out separately. In its post today, Google made an unusual admission about its service: It apparently built a native Latitude app for the iPhone, but Apple asked it to make it a web app, so Google did that instead.

Here’s their actual wording:

We worked closely with Apple to bring Latitude to the iPhone in a way Apple thought would be best for iPhone users. After we developed a Latitude application for the iPhone, Apple requested we release Latitude as a web application in order to avoid confusion with Maps on the iPhone, which uses Google to serve maps tiles.

Hmm. We all know that Apple and Google are pretty buddy-buddy, after all, Google CEO Eric Schmidt is on Apple board (though it’s not clear for how long). But something about this sounds a bit odd. Apple dictating product decisions to Google, and Google listening. There has been talk of this in the past as well. And perhaps now we know why it took Google so long to get the service on what is the most popular smartphone out there right now.

This is also a bit odd because if Apple is so worried about a confusion between Latitude and Maps, why not just build Latitude into Maps? Maybe that’s coming down the road?

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Google is still tightly intertwined with 23andme, a company that helps consumers understand and decipher their genomes. 23andme has raised another $2.6 million from Google out of a total $24.26 million it is trying to raise in a Series B round of funding, according to regulatory filings. This brings the total amount raised from this round to $13.6 million, after May’s $11 million funding round. At the time, Mohr Davidow Ventures divested its stake in 23andme after investing in a direct competitor Navigenics.

The juiciest disclosure in the filing is that Brin loaned the startup an additional $10 million which is being converted into Series B preferred shares. Earlier in 2007, he had loaned the company $2.6 million which was repaid from the proceeds of Google’s subsequent $3.9 million stake in 23andMe in May, 2007. The debt was repaid after the Google investment. It appears that Brin once again had to dig into his own pocket to help keep the company afloat.

The filing also says one of the investors in the Series B round in May was New Enterprise Associates, which also invested in 23andme’s Series A round. And it mentions that Google has entered into a lease agreement with 23andme, possibly for office space, but it is unclear what exactly is being leased.

23andme, which was co-founded by Sergey Brin’s wife, Anne Wojcicki, raised $9 million in a Series A round of funding from Google, Genentech, New Enterprise Associates, and Mohr Davidow Ventures in 2007. The company maps consumers’ DNA and helps them find information about their ancestry and their risks of getting certain diseases (Michael tried it last year).

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As the world’s most popular sport, soccer (or football as it is called in most of the world) has no shortage of devout fans, and with the World Cup coming up in just over a year, that popularity is set to skyrocket once again. So it’s no surprise that social networks dedicated to the sport have emerged that are looking to capitalize on this massive market. One of these is Footbo, a soccer-centric social network that has just closed a $1 million funding round from Pitango Venture Capital.

Since launching last June, the site has built up an international audience of 240,000 across English, Spanish, and German-speaking countries. The site has also recently implemented Facebook Connect, and is working to further increase exposure through a number of widgets.

While Footbo is touted as primarily a social network, it offers a handful of major interlocking components. Its social network includes standard functionality like allowing users to connect with friends, participate in groups, and message each other. There’s also a collection of data and statstics of professional teams from 70 international leagues, including scores, standings, and fixtures (schedules). The site also has over 50,000 team and player profiles.

Users can interact with this data through prediction games (which have also been integrated into Virgin Media), customized news feeds, and subjective grading of how their favorite teams fare during a game, which they can then compare to other users. Users can also add their own content, including blogs and wiki pages revolving around players and teams. Members can also use the Footbo platform to create their own teams and leagues for recreational play.

Footbo competes with a number of other soccer-centric sites, including ESPN’s Soccernet.

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