Welcome to the VC Roundup, where we’ll parse through venture capital news related to Philadelphia-based private equity firms and the companies they fund. Subscribe to the roundup as an email newsletter. If you have any VC-related news to pass along to us, please drop us a line.
MUST READ
DreamIt Ventures grad Adapt.ly received lots of positive press this week for the revelation that the company is on track to make $10 million this year. We covered the company, which helps brands with social media ad buys, last year when it was just getting off the ground here in Philly and named it the best of class.
Yesterday Philadelphia Media Network CEO Greg Osberg addressed Mobile Monday about the company’s new tablet program as well as its new incubator. More on that later this week, though we published a list of questions and answers about the incubator yesterday.
Locum, an Italian parking application, chronicles in painful detail how the company applied and was ultimately rejected from the current DreamIt Ventures class. We give them major points for transparency.
GIVE A GLANCE
Comcast Ventures has formed a new portfolio company, CTI Towers. The company will oversee Comcast’s 800 telecommunications towers across the country.
ApprenNet, the lawyer training tool developed by Drexel professor Karl Okamoto (our coverage here), has raised an angel round of $75,000.
According to PEHub, Square has raised an additional $41 million on top of its existing $100 million from First Round Capital among many others. Square, of course, is the mobile payment company founded by Twitter’s Jack Dorsey.
MIGHT BE WORTH YOUR TIME
In case you missed it, we interviewed Boomi CEO Bob Moul last Friday. Moul helped sell his company to Dell last year and tells us about his recent involvement in the Philadelphia venture capital and entrepreneurial ecosystem.
This guy really wants to be in DreamIt Ventures.
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