Recent Growth Equity Transactions: July 2014


GrowthCap highlights recent investment in healthcare solutions, biopharma and medical devices.  See deal specifics below:

Notable Healthcare Deals

Sophia Genetics, a Swiss provider of storage and analysis solutions for patient genome sequence information and data, has raised $13.75 million in Series B funding. Backers include Invoke Capital, Swisscom, and Endeavour Vision.

InSightec, a Tirat Carmel, Israel-based developer of MR-guided focused ultrasound therapy for the non-invasive treatment of tumors, is raising $50 million in its current D funding round. The investment will be used to accelerate market development and strengthen the implementation of InSightec’s strategy developing the next generation non-invasive operating room.

Cerecor Inc., a Baltimore, MD-based clinical stage biopharmaceutical company developing treatments for patients suffering from nervous system disorders, closed the first tranche of a $32 million Series B financing. The round was led by New Enterprise Associates, Apple Tree Partners, and MPM Capital. The company intends to use the funds for the development of its lead product candidate CERC-301.

Pain Doctor, a Scottsdale, Arizona-based pain management company providing standardized care and high-quality service, received a significant growth capital investment from Catterton Partners. The company intends to use the proceeds to expand its reach across the U.S. and build its support businesses, which include lead generation, lab services, and natural pain relief supplements.

DC Devices, Inc., a Tewksbury, Mass.-based medical device company developing structural heart devices, closed a $34 million Series D financing round. Accelmed led the round, with contributions from existing investors, as well as a new undisclosed strategic investor. The company intends to use the funds to complete clinical evaluation of its transcatheter device for the treatment of diastolic heart failure, which is a $5 billion global market opportunity.

Additional Deals

RetailNext, a San Jose, California-based provider of in-store data analytics for retailers, has raised $30 million in new VC funding. Nokie Growth Partners led the round.

Cloudian Inc., a Foster City, California-based provider of hybrid cloud storage solutions, raised $24 million in new VC funding. INCJ and Fidelity Growth Partners led the round.

Curse Inc., a Hunsville, Alabama-based gaming services company, has raised $16 million in Series B funding. Backers include Invoke Capital, Swisscom, and Endeavour Vision.

mBlox Inc. a Sunnyvale, California-based provider of application-to-person text messaging, has raised $43.5 million in new equity and debt financing from Horizon Technology Finance Corp, Comerica, and others.

Renovate America, a San Diego, California-based provider of residential Property Assessed Clean Energy financing in the U.S., raised $50 million in growth equity from new investor Valor Equity Partners, as well as other existing investors.

Duetto, a San Francisco and Las Vegas-based provider of hotel profit optimization software, closed $21 million in financing to extend its global reach. Accel Partners led the round.

NewVoiceMedia, a London, UK-based cloud contact ventre vendor, secured $50 million in Series E funding, mainly from Technology Crossover Ventures. The funds will go towards accelerating international expansion, develop its cloud solutions, and strengthen its operational capabilities in North America.

Bonobos, a New York City-based men’s clothing brand, closed $55 million in Series D funding. The round was led by Coppel Capital, and the funds will be used to quadruple its offline store presence by opening thirty more stores nationwide by 2016.

Intent Media, a New York-based provider of intelligent advertising solutions for travel firms, raised $22.7 million in Series C financing, which was led by Insight Venture Partners. Funds will go towards accelerating global expansion, new talent acquisition, and promoting new product adoption.

Pond5, a New York-based online marketplace for video footage and stock media, raised $61 million in equity financing, with Accel Partners and Stripes Group as the backers. The funds will go towards global growth, hiring, and product development.

Drybar, an Irvine, California-based hair salon chain, closed $20 million in funding to further accelerate expansion plans. SPK Capital and existing investors led the round.

Liquid Environmental Solutions, an Irving, Texas-based non-hazardous liquid waste services company, raised $31.6 million in Series C funding.  Paul Mariani and Phil Clough worked on leading the round at ABS Capital Partners.

Dough, Inc., a Chicago, California-based financial content provider, raised $25 million in new funding from Technology Crossover Ventures. Use of funds include adding people to their network, increasing technology and development resources for the platform, and enter international markets.

Tagetik, a global provider of enterprise software solutions for performance and disclosure management, financial governance, and business intelligence, completed a raise of $36 million. White Bridge Investments acquired a minority stake.

Involta, LLC, a Cedar Rapids, Iowa-based managed IT, cloud computing, and data center services company, raised a $50 million equity financing round. The company will use the funds to make strategic acquisitions and support its growth.

D-Wave Systems Inc., a Vancouver, Canada-based commercial quantum computing company, closed $30 million in funding. Goldman Sachs, BDC Capital, Harris & Harris Group, and DFJ were backers in the raise. The funds will go towards advancing and scaling the company’s quantum computing technology, accelerating software development, and building a software application ecosystem.

eGym, a Munich, Germany-based connected fitness company, raised $15 million in funding; the raise being led by Highland Capital Partners Europe.

CTERA Networks, an international provider of a Cloud Storage Services Platform, raised $25 million in Series C financing, mainly from Bessemer Venture Partners.

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