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Tech Industry

VC watch: White Rock nabs $42 million

The networking gear company raises $42 million...Meriton pulls in $17 million...Credant scoops up $14 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

• White Rock Networks raised a $42 million fourth round of funding, led by previous investor Oak Investment Partners. Existing investors Mayfield Fund, Meritech Capital, Fremont Communications, Fremont Ventures, Investor Growth Capital, Hook Partners, Gulf International Bank and Pacesetter Capital Group also contributed to the round. The Richardson, Texas-based company has raised a total of $144 million. White Rock develops optical-networking hardware designed to let carriers deliver high-speed services to businesses in metropolitan markets.

• Networking company Meriton Networks received a $17 million second round of funding, led by VenGrowth Capital Partners. Previous investors Desjardins Venture Capital Group, Newbury Ventures, Primaxis Technology Ventures, RBC Capital Partners, Sierra Ventures, Venture Coaches and VentureLink Fund also contributed to the round. Ottawa, Canada-based Meriton Networks has raised a total of $46 million. The company develops wavelength networking equipment.

• Credant Technologies raised a $14 million second round of funding, led by Menlo Ventures. Previous investor Austin Ventures also contributed to the round. The Dallas-based company has raised a total of $19.5 million. Credant develops security software for mobile devices used by corporations.

• SiberCore Technologies raised a $12.9 million fourth round of funding. VenGrowth Capital Partners, Ventures West Management and previous investors Celtic House Venture Partners, McLean Watson Capital and the Business Development Bank of Canada contributed to this latest round. The Ottawa-based company has raised a total of $48.3 million. SiberCore develops semiconductor packet management products.

• Software maker Striva received a $12.7 million second round of funding, led by Advanced Technology Ventures. Previous investors Leapfrog Ventures and Silicon Valley Banc Ventures also contributed to the round. The Scotts Valley, Calif.-based company has raised a total of $16.9 million. Striva develops data integration software products.

• Interwise raised a $12 million fourth round of funding. Lazard Technology Partners and previous investors Wall Street Technology Partners, Leeds Weld and STI Ventures contributed to the latest round. The Cambridge, Mass.-based company has raised a total of $106 million. The company develops software to serve as a platform for live collaboration, communications and online learning.

• Gotuit Media raised a $6 million first round of funding, led by Highland Capital Partners. Highland will receive two seats on Gotuit's board of directors. Andover, Mass.-based Gotuit offers navigation software and indexing services for the digital TV industry.

• Software tool developer mValent raised a $5 million first round of funding. Charles River Ventures and IDG Ventures contributed to this round. Tewksbury, Mass.-based mValent develops software designed to increase the speed of creating and marketing applications.

• NextWeb raised $1.5 million in a fourth round of funding, led by Kaiser Permanente National Venture Development and Monet Capital Group. The Fremont, Calif.-based company has raised a total of $8.3 million. NextWeb provides wireless Internet service to corporations in California.