WHO’S GETTING FUNDED?
Does First Round Capital have the most powerful network in Silicon Valley? That’s the question posed by a recent Fortune story that highlights the University City-based venture capital firm’s private social network for its portfolio companies. The Quora-esque platform that lets portfolio companies ask for advice on service providers, potential offices and more.
The network is “hugely helpful” for non-Silicon Valley portfolio companies, according to at least one local CEO and First Round portfolio company. “It’s amazing,” said Curalate founder Apu Gupta. “And it’s just one of many reasons why it’s awesome to be a part of the FRC community.”
First Round Capital participated in a $1.5 million round for Zendrive, a San Francisco-based startup focused on making people better drivers, VentureBeat reported.
AgileSwitch, the Center City renewable energy company, raised a round of funding from Benjamin Franklin Technology Partners and angel group Robin Hood Ventures, according to AgileSwitch cofounder Rob Weber. Weber also cofounded Robin Hood Ventures. The funding will be used for product development, Weber said.
Speaking of Robin Hood Ventures, the angel group also recently invested an undisclosed amount in Peeractive, the DreamIt Ventures spring 2013 ecommerce company from Australia and now based in New York, according to a recent Robin Hood newsletter.
Check out this Q&A with Dean Miller, managing director of Novitas Capital and president and CEO of Greater Philadelphia Alliance for Capital and Technology (PACT), in which he talks about the regional companies that have created success “under the radar.”
Novotorium invested an undisclosed amount in Veg-E Systems, a hydroponic farming business based in Doylestown, according to Novotorium’s Chuck Hall.
Safeguard Scientifics led a $10 million Series B round for Boston-based online physician platform Quantia, according to a release. Gary Kurtzman, Managing Director of Healthcare at Safeguard, will be joining Quantia’s board of directors, a spokeswoman said.
CoreDial, a Blue Bell-based cloud communications company, secured a $1.5 million credit facility from Silicon Valley Bank, according to a release. The funding will be used for product development and customer acquisition.
WHO’S MAKING MOVES?
Founded by Wharton MBA Clifford Jones, Allazo Health, a data analytics startup that aims to help patients take medications, is participating in New York City’s Blueprint Health accelerator.
WHO’S GETTING BUZZ?
Knowledge is power!
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