VC watch: InFlow raises $35 million

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Thursday's deals

• InFlow said it has raised a $35 million fourth round of funding. First Union Capital Partners, Meritage Private Equity Funds, Spire Capital, DLJ Merchant Banking and Cornerstone Equity Investors invested in this latest round. Denver-based InFlow has raised a total of $330 million. The company operates 18 data centers and sells managed services to companies.

• Versura said it raised a $5 million first round of funding, which was led by Palisade Capital Management. General Electric Pension Trust also participated in the round. Arlington, Va.-based Versura develops education loan exchange software, which allows higher education institutions, lenders and loan buyers to communicate with each other.

• AdSpace Networks said it has raised a $14 million second round of funding, which was led by Doll Capital Management and the AIG Global Sports & Entertainment Fund. Other investors included Allen & Co., Amicus Capital, Angel Investors and Brainstorm Ventures. San Francisco-based AdSpace has raised a total of $15 million and received an increase in valuation with the latest round. The company develops software that allows retailers and commercial establishments to target advertising and promotions to a particular audience via high-speed electronic displays.

• Vista Ventures said it has raised a $20 million fund. Vista Ventures I will invest in information technology and communications companies in the Rocky Mountain region. Broomfield, Colo.-based Vista Ventures plans to invest in companies seeking their early rounds of funding and expects to make upward of 11 investments with the fund.

Wednesday's deals

• Business software maker Trigo is expected to announce Monday that it has received a $14 million second round of funding, which was led by venture capital firm Mayfield. Previous investors Valent Group, Bessemer Venture Partners and JAFCO Ventures also contributed to this latest round. Brisbane, Calif.-based Trigo has raised a total of $24 million and received an increase in valuation with the most recent round, said Russ Henry, senior vice president of marketing. He noted that the second-round funding is expected to last the company until it reaches profitability in the second half of next year. Trigo focuses its business-to-business software on companies that are selling products, rather than on buyers. The software handles tasks such as pulling information together and pushing it out to customers, as well as receiving orders that would otherwise come through faxes or call centers, Henry said.

• 4thpass said it has raised an $8 million first round of funding, which was led by Motorola Ventures. Nextel Ventures also contributed to the round. Seattle-based 4thpass develops application software for Java-compliant wireless devices.

• Datacenter Technologies has raised a $7.9 million second round of funding, which was led by Partech International and NeSBIC Cte Fund. Other investors include Trust Capital Technology, Koceram, NIB Capital and Big Bang Ventures. Belgium-based Datacenter has raised a total of $11.4 million. The company develops software and equipment for planning and managing Web hosting systems at Internet data centers.

• Instill said it received a $12 million sixth round of funding and that it acquired Global Food Exchange. Previous investors Altos Ventures, Applebee?s International, Charles River Ventures, JP Morgan Partners, Mayfield Fund, Octane Capital Management, Ohio Partners, Piper Jaffray and Procter & Gamble participated in this round. Redwood City, Calif.-based Instill has raised a total of $84 million for its software company. Instill?s technology, which targets the food industry, handles such tasks as procurement and data analysis. The Global Food Exchange acquisition is designed to strengthen its product offerings.

Tuesday's deals

• NETdelivery said it received a $22.8 million third round of funding. Northwestern Mutual, CDP Sofinov and First Analysis invested in this latest round, bringing NETdelivery's total funding to $40 million. The Boulder, Colo.-based company develops software to allow secure collection, distribution and management of business forms and information over the Internet, as a means to cut the amount of paper and time need to exchange the same information manually.

• Newport Opticom is expected to announce that it has received a $7 million first round of funding, led by Sienna Ventures. Other investors include Investar and Taiwan Semiconductor Manufacturing (TSMC). Newport Beach, Calif.-based Newport Opticom manufactures fiber optic switches that use light wave signals, rather than electrical conversions. Sienna's investment marks the second for senior partner Gil Amelio, former chief executive of Apple Computer and National Semiconductor.

Monday's deals

• Vpacket Communications said it raised more than $40 million for its third round of funding. NIF Ventures/Daiwa Securities Group led the round, which also included GE Asia Pacific Capital Technology Fund, Intel Communications Fund and previous investor New Enterprise Associates. Milpitas, Calif.-based Vpacket has raised a total of $60 million and received a 50 percent increase in its valuation with the latest round, a spokesman said. The company develops equipment designed to improve the quality of voice-over Internet Protocol networks by prioritizing voice packets as they travel through networks. If the voice quality drops below a designated threshold, the network operator is notified to fix the situation.

• ShopTalk said it has raised a $12 million third round of funding, led by Venture Strategy Partners. Rocket Ventures and previous investors Bay Partners, KB Partners, Maveron Equity Partners, Staenberg Private Capital and Dakota Capital Partners also contributed to the round. Chicago-based ShopTalk has raised a total of $40 million and expects this latest round will carry the company to profitability. ShopTalk has recently changed its business. It previously allowed consumers to call into their telephone service and use their voices to navigate through options to learn of discounts and promotions offered by other companies. ShopTalk has since switched its focus to licensing its voice software to companies that want to use it for call centers. The company also recently named Michael Franz chief executive. Franz, who last served as chief executive of Hot Office.com, has also previously worked as president of Sprint Business, a division of telecommunications carrier Sprint.

• OpenReach said it has received a $31 million second round of funding, which was led by Lehman Brothers Communications Fund and Sofinnova Ventures. IDG Ventures and previous investors Polaris Venture Partners and Clarity Partners contributed to the latest round. Woburn, Mass.-based OpenReach has raised a total of $52 million for its software company, which allows corporations to provide secure network access to employees in remote offices, as well as to partners and customers.

• Overture Networks said it has received a $3.4 million first round of funding, led by Gray Ventures. Research Triangle Park, N.C.-based Overture Networks develops equipment designed to enable service providers to deliver a number of services over Internet Protocol networks in metropolitan areas.

• ANT said it received a $3.6 million third round of funding, led by VCF Partners. Previous investors Inflexion and Beeson Gregory Technology Investments also contributed to the round. Cambridge, England-based ANT has raised a total of $11.9 million and doubled its valuation with the latest round, a company representative said. ANT?s software is designed to enable people to browse the Internet and transmit e-mail from digital set-top boxes, household appliances, wireless devices and other non-PC-related devices.

• Metastorm said it has received $4 million toward its second round of funding from Dresdner Kleinwort Capital. That contribution closed the round at $24 million. Severna Park, Md.-based Metastorm has raised a total of $39 million for its software company, which automates tasks for its corporate and government customers. The software enables companies, for example, to automate the routing of employees? vacation requests, or track the movement of products or items.

• EurekaGGN said it received a $20 million second round of funding. Apollo Real Estate Investment Fund IV and previous investors Spectrum Equity Investors, Lazard Technology Partners, LLR Equity Partners and Mellon Ventures participated in this latest round. New York-based EurekaGGN has raised a total of $41.5 million and received a decline in valuation with the most recent round. The company offers voice and data services from voicemail to Web hosting for multi-tenant commercial office buildings and small businesses.

Thursday's deals

• Novarra has received a $20 million third round of funding, which was led by JK&B Capital and Kettle Partners. Other investors include Colorado PERA and Fort Washington Private Equity Investors. Arlington Heights, Ill.-based Novarra develops software designed to adapt enterprise applications to handheld devices. The company has raised a total of $29 million.

• Season Ticket Solutions expects to close a $5 million second round of funding in the next five months. The Chicago-based company has received an undisclosed portion of the round from InvestLinc Financial Services. Season Ticket will have raised a total of $8 million once this latest round closes. The company provides software to distribute and exchange tickets.

• TeraLogic said it had raised $17.5 million for its fifth round of funding, led by previous investor Citicorp. TopSpin Partners, along with previous investors Sony, Samsung Electronics, Mitsubishi Electric, The Mayfield Fund, Levensohn Capital, New York Life and Vertex, contributed to this latest round. Mountain View, Calif.-based TeraLogic develops integrated circuits and software for the digital TV industry. The company's products are designed to reduce the cost of enabling devices to receive high definition television. The company has raised a total of $90 million.

• Storm Telecommunications said it received a $35 million second round of funding, led by Soros Private Equity Partners. Other investors include Merrill Lynch Ventures. London-based Storm has raised a total of $400 million for its voice, bandwidth and Internet Protocol services.