VC watch: MetaTV secures $21 million

The software company receives $21...Cranite gets $12 million...SupplySolution raises $9.5 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.

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

 MetaTV has raised a $21 million fourth round of funding, led by cable giant Comcast and previous investor Cox Communications. Other investors in the round announced Monday include Hearst Interactive Media, Atrium Venture Partners, Liberate Technologies, Redpoint Ventures and Rosewood Venture Group.

The Mill Valley, Calif.-based MetaTV has raised a total of $62 million. The company develops software that automatically handles data feeds and content for interactive TV and delivers the information to the appropriate devices and services.

 Cranite Systems has raised $12 million in a third round of funding led by JK&B Capital. Other investors in the round announced Monday include BV Capital and Diamondhead Ventures. San Jose, Calif.-based Cranite has now raised a total of $15 million. The company develops security software for businesses and organizations with wireless LAN (local area networks) and multiple mobile users.

 Software marker SupplySolution said Monday that it has closed a fourth round of venture funding totaling $9.5 million. The Sprout Group, Enterprise Partners and Sigma Partners were the investors. The Santa Barbara, Calif. company, founded in 1998, has raised a total of $64 million. SupplySolution makes software applications designed to help manufacturers coordinate orders and inventory with their suppliers electronically.

 Imago Scientific Instruments has raised $7 million in its first round of funding, the company announced Wednesday. Investors included Draper Fisher Jurvetson, Draper Triangle and Stanford University. Madison, Wis.-based Imago makes analytical equipment designed for nanotechnology. Its Leap microscope will start at the atomic-scale and then zoom out, compared with other microscopes that zoom in to see items.

 Software maker Tridium raised $5 million in a second round of venture capital financing, bringing total funding raised by the company to $25 million. Investors in the latest round of funding include Marubeni in Tokyo and K Road Ventures in New York. The Richmond, Va.-based Tridium, founded in 1995, makes software designed to aid in remotely monitoring building facilities and other kinds of equipment by linking tiny computers embedded in meters, thermostats and other devices over computer networks. The technology is used to monitor and control utilities usage and factory equipment.

 EnvoyWorldwide has received a $4.5 million third round of funding from previous investors Battery Ventures, Longworth Venture Partners and Sofinnova Partners, as well as one new investor, the company said Monday. The Bedford, Mass.-based company has raised a total of $27.5 million. EnvoyWorldWide provides messaging services to customers using wired and wireless devices.

 Infoglide Software on Thursday said it has raised a $4.2 million fifth round of funding from previous investors Conning Capital Partners, Intersouth Partners, MMC Capital and Sanchez Capital Partners. The Austin, Texas-based company has raised a total of $25.8 million. Infoglide develops software to analyze and investigate data stored in multiple and disparate remote databases. The software is used for employee background checks and to track insurance and financial fraud, false aliases and identity theft.

 Wizmo, an IT consulting company, has received $4.2 million in third-round funding. Sandler Capital Management led the round, with investors Wheatley Partners and Novell participating. Wizmo plans to put the funds toward working capital. The company expects to be cash-flow positive in the fourth quarter of this year and to post a net profit by the first quarter of 2003, said Mike Lindseth, the company's chief executive officer. In total, Wizmo has raised more than $41 million in venture capital, most recently $34.6 million in second round funding in July 2000. The Eden Prairie, Minn.-based company has gone from a high of about 170 employees down to about 70 workers now, but it plans to have about 80 employees by the end of the year, Lindseth said. As part of its funding announcement, Wizmo said that it has signed a deal with transaction processing outsourcer Automatic Data Processing to host some of its time and labor management applications.