Philly Tech News VentureWatch 12/3/2012: 5 startups report new funding

Tom Paine
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InsPro Technologies, the Eddystone-based Insurance SaaS provider I recently profiled, has raised $1.5 million out of a proposed $3 million offering, according to a recent SEC filing. CEO Robert Oakes had told me the company would be raising one more round that should get it over the hump, funding wise, and this apparently is it. Past investors have included Cross Atlantic Capital Partners and Independence Blue Cross.

Xtium, the King of Prussia-based Cloud Services provider, has raised another $2 million. Xtium raised a $11.5 million Series A round of funding from Boston-based OpenView Venture Partners last year.

Southampton-based Smart Structures, Inc., which provides wireless Embedded Data Collector (EDC) solutions to monitor the integrity of concrete foundations, has raised $210,000 of a proposed $2 million offering. Smart Structures had previously raised about $2.3 million, according to SEC filings. Previous investors have included Ben Franklin Technology Partners of Southeastern Pennsylvania, Delaware Crossing Investor Group, and Emergent Growth Fund.

Philadelphia-based PHmHealth LLC has raised $175,000 of a $750,000 offering. PHmHealth says its platform allows home health care providers to check in through its NFC-enabled app verifying the visit and uploading the collected data to a secure cloud-based server.

Glen Mills-based Versify Solutions, which markets an energy usage management and trading platform, has raised $406,000 out of a total offering of $500,000. Versify had previously raised at least $2.3 million.
Past investors have included Fairbridge Venture Partners and Ben Franklin Technology Partners of Southeastern Pennsylvania.




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