The Daily Startup: ScribbleLive Raises $35 Million to Make Acquisitions

dailystartup_D_20090806101628.jpgArt by Mike Lucas

Content-marketing software maker Scribble Technologies Inc., which goes by the name ScribbleLive, has raised $35 million in Series D funding, Timothy Hay reports for Dow Jones VentureWire. The Toronto-based company said the funding would be used to add to its sales and marketing staff as well as to acquire other startups. OpenText Enterprise Apps Fund led the Series D round, joined by investors Emerillon Capital, Blue Cloud Ventures, Northleaf Venture Catalyst Fund,  Rogers Ventures, Summerhill Venture Partners, Georgian Partners, Export Development Corp. of Canada and Waterloo Innovation Fund.

ALSO IN TODAY’S VENTUREWIRE (subscription required):

Blue Jeans Network Inc., a cloud video conferencing provider, has raised an additional $76.5 million from a mix of old and new investors, including former New York Yankees shortstop Derek Jeter. Mr. Jeter is using Blue Jeans for his new The Players’ Tribune, a website that lets athletes tell their stories directly to the public.

North Bridge has shelved raising its eighth venture fund while it concentrates on its current portfolio and its growth-equity business. The Waltham, Mass., firm said in a regulatory filing in December 2014 that it was seeking up to $200 million for North Bridge Venture Partners8 LP, far less than the fund’s $530 million predecessor, raised in 2008.

Veran Medical Technologies Inc. has raised $30.6 million to help the company expand the commercialization of technologies to detect lung cancer at an earlier stage. River Cities Capital Funds and Versant Ventures led the financing, which included existing investors 3G Capital, Advantage Capital, Dynamic Investments, Rex Health Ventures, Prolog Ventures and Vectis.

Zscaler Inc., an Internet-security company, has added $25 million from Google Capital to a recent Series D round to continue its global expansion, the company said. Other investors in the Series D round included TPG, EMC Corp. and Lightspeed Venture Partners.

Mastery Connect Inc., an education-technology startup, has raised $5 million in Series B-1 funding from the personal fund of Facebook Inc. founder  Mark Zuckerberg and his wife, Priscilla Chan. The company raised $15.2 million in Series B funding a year ago.

(VentureWire is a daily newsletter with comprehensive analysis of all the investments, deals and personnel moves involving startups and their venture backers. For a two-week trial, visit, scroll to the bottom and click “try for free.”)


Invention Startup Quirky Files for Bankruptcy. Invention startup Quirky Inc. filed for chapter 11 bankruptcymarking one of the brightest flameouts of late for a venture-backed company, The Wall Street Journal’s Scott Martin, Stephanie Gleason and Yuliya Chernova report. The startup was backed by a who’s who of venture investors, including Andreessen Horowitz and Kleiner Perkins Caufield & Byers.

SevOne Raising Funding That Pushes Valuation Near $1 Billion. Infrastructure software company SevOne Inc. is raising as much as $60 million in new funding at a valuation approaching $1 billion, the WSJ’s Deborah Gage reports. Investors include Westfield Capital Management, Bain Capital Ventures, Brookside Capital, Osage Venture Partners and HarbourVest Partners. SevOneexpects to raise between $47.1 million and $60 million by the time the round closes, according to a person familiar with the situation, but the amount is in flux as investors’ contributions and the valuation are still fluid.

Bitcoin License Hits a Milestone. Venture-backed bitcoin startup Circle Internet Financial Ltd. has become the first company to receive a license, allowing ti to offer digital-currency services in New York, the WSJ’s Paul Vigna reports. Circle can now offer a mobile payment service that can send and receive and hold U.S. dollars, in addition to bitcoins.

Axel Springer in Talks to Acquire Business Insider. Germany’s Axel Springer SE is in talks to acquire Business Insider, the WSJ’s Lukas I. Alpert and Ellen Emmerentze Jervell report. The deal would value the digital publisher at about $500 million, according to a person familiar with the matter. Axel Springer was the lead investor in Business Insider’s $25 million round in January.

Oyster to Exit E-Book Subscription Business. E-book subscription company Oyster is exiting the business of lending books for a monthly fee, the WSJ’s Jeffrey A. Trachtenberg reports. Google Inc. said it has hired some of Oyster’s employees, who will be joining the Internet company’s e-book service, Google Play Books.

Hearst Takes Stake in Complex. Complex, a company that runs a network of video-driven websites that are focused on topics such as music and pop culture, has received a $21 million strategic investment from Hearst Corp., the WSJ’s Lukas I. Alpert reports. Complex was founded by Marc Ecko, a former graffiti artist turned clothing designer.

French Constitutional Council Rejects Uber Appeal of Law Banning Uberpop. France’s Constitutional Council ruled that a provision of a new law that makes operating a ride-hailing service like Uberpop–a service from Uber Technologies Inc. that uses drivers without professional licences–punishable with prison time is in accordance with France’s constitution, the WSJ’s Sam Schechner reports. Uber said the decision is “disappointing,” but added that it will still offer its professional services in France and push for “new, common sense regulations that offer riders more affordable, reliable options and drivers new job opportunities.”

Write to Mike Billings at Follow him on Twitter at @mbillings