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VC watch: Basis Tech gets $7.5 million

Basis Technology grabs $7.5 million in a second round of funding...CompanyDNA raises $16 million in its first round...OneWorld Software closes its $4 million third round.

Companies have lived through the boom, and some have survived the bust, but which players will be the trendsetters of the future? The following list is the latest news from start-ups here and abroad that have received venture funding. This page is updated daily. Keep checking back for the latest.

Has your company just completed a round of financing or received other venture capital support? E-mail the editors at

Friday's deals

• Basis Technology has received a $7.5 million second round of funding from Kyocera Goldman Sachs Venture Capital, a joint-venture between Kyocera and investment bank Goldman Sachs. Basis, based in Cambridge, Mass., reworks customers' software so it will handle multiple languages in any country. The company would not disclose the total amount of funding it has raised.

• CompanyDNA has raised $16 million in its first round of funding, led by Working Ventures and XDL Intervest. The Toronto, Canada-based company develops software that helps companies use the Internet to solve problems related to employee performance. CompanyDNA has products that will gather information to aid in developing retention and productivity programs.

Thursday's deals

• OneWorld Software said it closed its $4 million third round, bringing its total funding to $22.3 million. Investors in the latest round include Advent International, Citicorp Venture Capital, Foursan Technology Partners, and New Horizons Venture Capital. OneWorld, based in Cambridge, Mass., provides software development services to corporations.

• Index Stock Imagery received $4.5 million, allowing it to close its $20 million mezzanine round. The New York-based company, however, was given a value by its investors that was more than 50 percent below its previous round, Chief Executive Bahar Gidwani said. Index Stock Imagery, which has raised a total of $30 million, received its latest investment from previous investors Meridian Venture Partners, J.W. Seligman, SCP Venture Partners, Polaris Fund, and Harbour Capital. The company has more than 3 million photos, graphics and other images on its Web sites from more than 1,700 artists.

• Gay-oriented Internet media company PlanetOut Partners said it received $8.2 million in funding, including money from Time Warner and IDG, which publishes The Industry Standard magazine. With the funding, San Francisco-based PlanetOut Partners was poised to be cash-flow positive in the fourth quarter of this year, Chief Financial Officer Jeff Soukup said. Soukup said the latest financing will be used mostly for operations and to diversify sources of revenue. With the latest financing, the total raised by PlanetOut is roughly $68 million.

• Sangate Systems said it raised a $10 million second round of funding from Jerusalem Venture and Battery Ventures. Southborough, Mass.-based Sangate, which has raised a total of $18 million, will use the proceeds to speed along the development of its storage appliance. The hardware and software device is designed to allow companies to perform such tasks as temporarily backing up information via remote locations to transferring data using any company's storage subsystem.

• Data-mining company Connotate Technologies received $1.7 million toward its first round of funding. Connotate, based in New Brunswick, N.J., hopes to raise a total of $2.7 million for the round and will use the proceeds to complete its technology. The company is developing software that will monitor and mine content. Trautman Wasserman managed the private investment.

Wednesday's deals

• Tidal Software, a business automation software company, landed a $12 million second round of funding. Tidal allows companies' data centers to automate business tasks. JPMorgan Partners was the lead investor, and previous investors Novus Ventures and VantagePoint Venture Partners joined the latest round. The Mountain View, Calif., company has raised a total of $16.5 million.

• Netonomy said it received a $15 million third round of funding from lead investor Europatweb, an Internet arm of Groupe Arnault. Other participants included previous investors Atlas Venture, Fidelity Ventures and Viventures--bringing the company's total funding to $25 million. Netonomy, based in Boston and Paris, will use the funds to develop its customer managed relationship software, MyNetonomy, for the communications industry. The company's software allows customers to activate new subscriptions, buy new services and manage bills over the Internet.

• Web services company Epionet has received a $2.25 million first round of funding. Epionet, based in Dublin, Ireland, received its funding from the Alliance Fund and private investors. The company plans to use the proceeds to launch its entry into the online business-to-business industry.

Tuesday's deals

• Synchronoss Technologies has received a $9 million investment to finalize its $34 million first round, which it began last November. ABS Ventures led the round, along with investors Rosewood Venture Group and Ascent Venture Partners. Other investors participating in the round include Adams Street Partners, Liberty Ventures and C.E. Unterberg Towbin. Synchronoss, based in Bethlehem, Pa., helps carriers such as AT&T and WorldCom streamline the process of hooking their customers onto the network and delivering high-speed data services.

• Postini, which allows e-mail providers to offer services such as wireless and e-mail filtering without using their servers, has landed a $6 million second round. Sun Microsystems and August Capital were some of the new investors in the latest round, which was led by the Summit Accelerator Fund. Redwood City, Calif.-based Postini has raised a total of $15 million with this latest round.

• Maxxan Systems said Tuesday it received a $26 million first round of funding from Venrock Associates and U.S. Venture Partners, which jointly led the round. Maxxan, based in San Jose, Calif., developed technology designed to allow corporate customers to enlarge or decrease the size of their storage area networks without shutting down systems.

• Youcentric, an enterprise relationship management software company, closed $17 million of its $24 million third round. Youcentric plans to close the rest of the round in the next several months, a representative said. The company's software is designed to allow companies to manage information and immediately interact with customers, sales representatives, employees and suppliers via the Internet. The Charlotte, N.C.-based company's technology allows these activities over cell phones, pagers and PCs. ABS Capital Partners was the lead investor, along with previous investor First Union Capital Partners. With this latest investment, the company has raised a total of $56 million.

• T-Speed Broadband Communications said Tuesday it received a $3 million seed round for its high-speed Internet access business. The Dallas-based company delivers Internet access over fixed wireless networks in Dallas; Fort Worth, Texas; Austin, Texas; and Little Rock, Ark. T-Speed Broadband Communications is targeting customers in office buildings where DSL service is not available.

• Issanni Communications received a $3 million first round of funding from strategic partner UTStarcom. Issanni, based in Eatontown, N.J., designs technology to help service providers offer and manage DSL, cable and wireless services and applications. UTStarcom, which makes wireless and wired network access and switching systems, also entered into a $2 million licensing commitment with Issanni--creating a $5 million funding and licensing agreement for the start-up.

• Enterprise-software company Akonix Systems received a $5 million first round of funding. Mission Ventures led the round and was joined by Windward Ventures. Both firms will have representatives on Akonix's board. The San Diego-based company develops applications for companies' online communities. Akonix Systems' communications applications are designed to give companies a view of all live data on their sites and allow them to interact with their customers.

• Moonlight Systems said Tuesday it landed a $10.8 million second round of funding from lead investor Bay Partners, as well as BA Venture Partners and other investors. The San Francisco-based company, which has raised a total of nearly $14.4 million, will add a Bay Partners representative to its board. Moonlight Systems develops software management applications that automatically install, manage and update different software configurations across a number of servers.

• SecurityFocus said Tuesday it received an $8.2 million first round of funding from E*Trade Venture Capital and Softbank Venture Capital. The San Mateo, Calif.-based company operates an attack registry and intelligence service designed to predict cyber assaults on customers' networks. SecurityFocus also operates a security alert service, which informs customers of their network vulnerabilities.

Monday's deals

• Galayor Networks said Monday it received an $8 million seed round of funding. Evergreen Venture Capital was the lead investor, and STI Ventures and Neurone Ventures also contributed. Galayor, based in Israel, develops technology to channel light on semiconductor chips, creating photonic networks that help reduce the size of a chip and are used in optical components.

• Corechange said Monday it received a $25 million third round of funding from UBS Capital Americas, the lead investor, Exelon Capital Partners, SG Cowen Ventures, Nortel Networks and previous investors ABN AMRO Private Equity and HarbourVest Venture Partners. Corechange, based in Boston, has raised a total of $65 million and produces software to build portals for organizations and corporations.

• Supply chain management developer PowerMarket said Monday it received a $12.5 million second round of funding. With this latest investment, the Belmont, Calif.-based company has raised a total of $23 million and will use the proceeds to further develop its value chain intelligence applications. PowerMarket applications are designed to help companies quickly uncover, analyze and address issues arising from both internal and external supply chains. Norwest Venture Partners led the round, and was joined by RRE Ventures Geneva Venture Partners and previous investor Kleiner Perkins Caufield & Byers.

• BlueArc, a network storage company led by former Compaq executive Enrico Pesatori, received a $72 million third round of funding. The Mountain View, Calif.-based company, which received an increase in its valuation to $312 million, attracted Weston Presidio as its lead investor. Other investors include Dell Ventures, Euroqube, New York Common Retirement Co-Investment Fund, JPMorgan Partners, Fort Washington Capital and previous investors Celtic House International, Patricof & Co. Ventures and Apax Partners. BlueArc, which has raised over $100 million, has developed a network storage system that can run at gigabit speeds, rather than the industry's current practice of megabit speeds, spokesman Jim Schaff said.

Friday's deals

• Semiconductor company Fast-Chip received $27 million in a second round of funding. Sunnyvale, Calif.-based Fast-Chip has raised a total of $39 million, with the latest round led by Berkeley International Capital. Other investors in the second round included Morgan Stanley Dean Witter Venture Partners and Intel Capital.

• Database software maker WhamTech received a $3 million first round of funding. WhamTech, based in Dallas, plans to use the proceeds to speed up the delivery of its products and increase its marketing efforts. HAP Investment Group was the investor in this round.