The Daily Startup: Google Ventures Backs ClassPass in $30M Funding Extension

dailystartup_D_20090806101628.jpgArt by Mike Lucas

Who knew everyday fitness classes would pique investor interest. ClassPass Inc ., which provides fitness-class subscriptions to consumers, has raised $30 million in additional funding led by Google Ventures. The additional capital comes as an extension of the company’s Series B round, in which the New York startup collected $40 million in January. “Over the summer we passed $100 million in run rate,” said Chief Executive Payal Kadakia.

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NextVR, which broadcasts events live in virtual reality, has raised $30.5 million from Comcast Corp. and Time Warner Inc.

TigerText Inc. said it has closed a $50 million Series C round led by Norwest Venture Partners to market its secure messaging platform for health-care and other enterprise applications. Norwest was joined by Invus Group and Accolade Partners, as well as return backers Shasta Ventures, OrbiMed and Reed Elsevier. Santa Monica, Calif., company raised a $21 million Series B round in January 2014.

Panjo has raised $4.6 million in funding to help people with shared hobbies sell used items related to those interest to one another. Panjo’s funding was led by Spark Capital and was joined by Lerer Hippeau Ventures, Mucker Capital, Bertelsmann Ventures, MESA Ventures and the New York Times Co.

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Apple , Banks in Talks on Mobile Person-to-Person Payment Service. Apple Inc. is in discussions with U.S. banks to develop a payment service that would let users zap money to one another from their phones rather than relying on cash or checks, according to people familiar with the matter. The move would put the tech giant in competition with an increasing number of Silicon Valley firms trying to persuade Americans to ditch their wallets in favor of digital options.

Uber’s Car-Hailing Service to Ride Again in South Korea. Uber Technologies Inc. said Wednesday that it would restart its flagship car-hailing service in South Korea under a revised set of regulations, in an effort to revive its fortunes in a market where it has encountered stiff resistance from government authorities.

Formation 8 Split Allows for Sharper Focus on Asia Startups. Brian Koo, a scion of South Korea’s LG Group family and a Formation 8 co-founder, said Thursday that he was launching a new venture firm called Formation Group, based in Silicon Valley and focused on investments in Asia — primarily South Korea and Southeast Asia.

Airbnb has moved to head off conflict with tax-raising authorities,
city councils and hoteliers, Reuters reports. In a statement on its web site dated Nov. 11, the company whose runaway success has turned the travel and hotel industry upside down announced plans to co-operate with cities to make sure homeowners pay their fair share of hotel and tourist taxes.

Write to Scott Martin at Follow him on Twitter at @scottysmartin