Philly Tech Tidbits 2/24/2011
Malvern social CRM startup Visibiz has raised $1 million from West Conshohocken-based SeventySix Capital, according to Dow Jones VentureWire. Visibiz was founded by Ami Assayag, who briefly had served as SeventySix Capital's entrepreneur in residence. Its software helps companies manage information across multiple CRM platforms and social media sites. Visibiz now has eight employees and will shortly launch into private beta, and Assayag says he hopes to close on another $1 million round by summer.
A new Delaware-based startup, cWyze, has raised $200,000 , according to a recent SEC filing. cWyze appears to be developing an interactive video ad interface for targeted marketing. Don't know too much about the founders, but the advisors listed on its website are impressive, including Philadelphia businessman and politician Sam Katz and Morgan Lewis Bockius partner Stephen Goodman.
The Business Insider reports that Google may have some interest in acquiring First Round Capital portfolio company SinglePlatform. The New York startup provides one location on the web where small businesses can enter and maintain information about themselves which SinglePlatform then automatically distributes to various local shopping and social media sites. However, Business Insider's source tells them that nothing is likely to happen until the user base gets considerably larger. First Round led a $1.2 million seed round in December.
In several reports last month about major VC firm Accel Partners opening a New York office, Philly-based mobile payments startup Venmo was named as being one of their portfolio companies. Which is surprising since there has never been a formal announcement of such an investment, nor does it appear in Accel's portfolio listed on its website. Venmo has previously raised $1.2 million in a round led by RRE Ventures in May of last year.
Quu, Inc., a startup which provides an interactive platform for radio stations, has named veteran Philadelphia radio exec Lynn Bruder CEO, to be based in Philadelphia, though the company will continue to be headquartered in the Seattle area.
Temple University's Fox School of Business has received a $500,000 donation from Goldman Sachs Gives, a donor-advised fund, which will enable it to expand its business plan competition program. The gift was made at the recommendation of two Temple alumni, Alan and Deborah Cohen. Alan is an exec at Goldman Sachs.
Comcast Interactive Capital participated in a $17 million Series C financing round in Atlanta-based Vitrue, which provides a software-as-a-service (SaaS) platform which enables brands and marketing agencies to communicate with customers and fans. Comcast had been a previous investor.
Safeguard Scientifics' recently announced $5 million backing of Downingtown startup ThingWorx may reflect a change in its investment philosophy, or perhaps more accurately a return to its roots. “On the heels of two well-timed exits last year, Safeguard is now in a position of financial strength and flexibility to deploy capital into new, high-growth, high-value companies,” said Peter J. Boni, President and CEO, in the press release. Which sounds like an indication that Safeguard will be looking at more early stage (and higher risk) ventures such as ThingWorx in the future.
permalink
