Welcome to the VC Roundup, where we’ll parse through venture capital news related to Philadelphia-based venture capital firms and the companies they fund. Subscribe to the roundup (and other TP content) as an email newsletter. If you have any VC-related news to pass along to us, please drop us a line.
Where the heck did turntable.fm come from? It is actually a pivoted Stickybits, which is a First Round Capital company. Check Quora if you don’t believe us.
Switch Philly presenting company Coursekit has raised an impressive $1 million seed round and moved to New York City. Coursekit aims to replace Blackboard as the software used by college classes to post assignments and communicate. We’ll have an Exit Interview with founder Joseph Cohen later this week. See Cohen’s presentation (and the rest of Switch Philly) here.
Fresh off of our Q and A with Donald Caldwell, both Philly.com and Philly Tech News have additional details on the Cross Atlantic Capital’s new fund and recent investment in Rootstock. Speaking of Caldwell, he has been replaced as chairman of the Pennsylvania Academey of Fine Arts.
MIGHT BE WORTH YOUR TIME
DreamIt Ventures alum Notehall has exited to Chegg. See Notehall’s Exit Interview here.
GIVE A GLANCE
Safeguard Scientifics partner company Portico Systems has been acquired for $90 million by McKesson.
Safeguard Scientifics has remained busy, investing in sleep apnea treatment company NovaSom and hiring Phillip Moyer as the managing director of its technology group. In an email with Technically Philly, Safeguard tells us that Moyer is not a replacement for any Safeguard employee.
Mike Armstrong shines light on the recent small exits and mergers in Philadelphia, suggesting that the local merger market may be heating up.
Knowledge is power!
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