VC watch: Cradle Tech gets $10 million

Cradle Technologies grabs $10 million...White Rock Networks pulls in $60 million...Op40 receives $15 million.

CNET News staff
3 min read
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. This page is updated daily. Keep checking back for the latest.

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Thursday's deals

 Cradle Technologies received $10 million toward its fourth round of funding, led by previous investors Charter Ventures and Smart Technology Ventures. Fremont, Calif.-based Cradle Technologies has raised a total of $40 million. The company designs chips and contracts out the manufacturing of the semiconductors.

 White Rock Networks that it has pulled in $60 million in third-round funding, bringing the total it has raised since its 1999 launch to $102 million. The Dallas-based company raised $12 million in February 2000 and $30 million in June 2000. White Rock makes optical telecom equipment for metropolitan networks, which operate within urban areas. Previous investors Oak Investment Partners, Mayfield Fund, Meritech Capital and Hook Partners contributed to the round, along with new backers including Fremont Communications, Fremont Ventures, Gulf International Bank and Cypress Semiconductor. White Rock will use the additional funds to market its gear to potential customers.

Monday's deals

 Op40 named a new chief executive and received a $15 million second round of funding, led by Baker Capital. Armonk, N.Y.-based Op40 has raised a total of $22 million. Op40 offers a service to companies that want to redistribute their applications to customers without those clients having to recode their respective software. The company named John Andrews, former founder and chief executive of e-MedSoft.com, as its new chief executive.

Last week's deals

 Interwise raised a $34 million third round of funding, led by Accenture Technology Ventures, Lazard Technology Ventures and UBS Capital. Other investors included GIMV, Leeds Equity Partners and Jim Manzi, the former chief executive of Lotus Development. With his investment, Manzi will become a nonexecutive chairman of the board. Santa Clara, Calif.-based Interwise has raised a total of $70 million. The company develops software designed to allow real-time video, audio and data communications over the Internet, such as Web meetings and Webcasting.

 DataCore Software has raised more than $30 million in a third round of funding, led by Vista Equity Partners. Previous investors New Enterprise Associates and OneLiberty Ventures contributed to the latest round. Fort Lauderdale, Fla.-based DataCore has raised a total of over $65 million. DataCore's storage-network management software enables companies to consolidate their storage from various types of hardware and to reallocate space.

 WildCard Systems has raised a $14.5 million fifth round of funding, led by Sutter Hill Ventures. Other investors included WW Ventures and Cleveland Pacific Equity Ventures. Sunrise, Fla.-based WildCard Systems has raised a total of $53 million. The company develops software that creates and stores financial services information, similar to the technology that is used for prepaid phone cards, which stores information on available phone minutes and then registers a debit as the card is used.