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Tech Industry

VC watch: SPS receives $18 million

The funding came from the services company's second round...Netilla Networks gets $6 million...Jasper Design Automation raises $5.5 million.

Which companies 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.

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

Recent Deals

• SPS Commerce announced Monday that it raised $18 million in a second round of funding. River Cities Capital Funds and existing investors St. Paul Venture Capital, CID Equity Partners, Adams Street Partners, Granite Private Equity, Svoboda Collins & Co., Pacific Capital Ventures and Axiom Venture Partners all contributed to the round. The St. Paul, Minn.-based company has raised a total of $61 million. SPS Commerce is a provider of supply-chain-integration services to small and medium-sized businesses.

• Netilla Networks announced Monday that it raised $6 million in a third round of funding. Contributing to the round were previous investors Ascend Venture Group, Mid-Atlantic Venture Funds, Early Stage Enterprises, NJTC Venture Fund and the Telecommunications Development Fund. The Somerset, N.J.-based company has now raised more than $17 million. Netilla develops virtual private network (VPN) appliances to enable remote users to connect to their employers' networks.

• Jasper Design Automation announced Monday that it raised $5.5 million in a second round of funding from Foundation Capital. The electronic design automation company also named Kathryn Kranen, former chief executive of Verisity Design, as its new CEO. Kranen replaces Vigyan Singhal, a company co-founder and board member, who will become vice president of engineering. The Mountain View, Calif.-based company has raised a total of $7.1 million. Jasper, formerly Tempus Fugit, develops verification technology to test chip designs and to ensure that they meet functional requirements before going to market.

• Black Pearl announced Monday that it raised $5 million in a fourth round of funding from Advanced Technology Ventures. The Mountain View, Calif.-based company has raised a total of $60 million. Black Pearl develops decision-management software that assists companies in managing and tracking real-time decisions for business operations.

• Software maker Nexaweb Technologies has raised $4.3 million in its first round of funding, the company announced Monday. Egan-Managed Capital, Masthead Venture Partners and Velocity Partners contributed to the round of funding. Cambridge, Mass.-based Nexaweb develops software platforms that deliver applications across various networks, desktops and devices.