RALEIGH … September is as cold as August was hot for venture capital deals in the Carolinas and Georgia. Through the first half of the month, just four deals have been completed.
Last week saw two Atlanta firms, online banking concern Skylight Financial and logistics automation company Velant, close funding rounds. Also, North Carolina-based document management software developer FormScape landed venture cash as well.
Ninety-one tech firms in the Southeast have raised about $754 million in venture funding so far this year, for an average deal size of $8.3 million. A $2.5 million listing for AppGate that had been reported earlier has been deleted from the list after the funding was withdrawn.
Here’s a look at LocalTechWire’s exclusive list of deals in the region, ranked according to the size of the investment:
Company; Industry; Amount (Round)
1. Movaz Networks, Norcross, Ga.; Telecom; $60 million (3rd)
Investors: Oak Investment Partners (lead), Anschutz Investments, GATX Ventures, Menlo Ventures, Meritech Capital Partners, Silicon Valley BancVentures, Telus Ventures and Worldview Technology Partners
2. Inhibitex, Atlanta; Biotech; $45.4 million (4th)
Investors: Essex Woodlands Health Ventures (co-lead), New Enterprise Associates (co-lead), Alliance Technology Ventures, CDP Sofinov, Pacific Horizon Ventures and William Blair Capital Partners
3. Fleetcor Technologies, Atlanta; IT services; $45 million (2nd)
Investors: Summit Partners
3. Hatteras Networks, Durham; Telecom; $45 million (3rd)
Investors: Grotech Capital Group (lead), Bessemer Venture Partners, Columbia Capital and ComVentures
5. Scynexis, Durham; Pharmaceutical services; $29 million (3rd)
Investors: Alta Partners (lead), Burrill & Co., CDC Innovation Partners, Genavent, KBL Healthcare Ventures, SG Asset Management, SR One and Ventech
6. Pathfire, Roswell, Ga.; Software; $27 million (5th)
Investors: AT&T Ventures, Bank of America Capital Investors, CNN News Group, Halpern Denny & Co., Institutional Venture Partners, Kinetic Ventures, Monarch Capital Partners, Noro-Moseley Partners, Quadrangle Group, Reuters Greenhouse Fund, Riggs Capital Partners and US Venture Partners
7. Wave 7 Optics, Alpharetta, Ga.; Telecom; $23 million (2nd)
Investors: ATV Capital (lead), Armada Ventures, Lucent Venture Partners, Mellon Ventures and Morganthaler Ventures
8. Nobex, Durham; Biotech; $22.5 million (6th)
Investors: AEA Investors (lead), HealthCap and unidentified Taiwanese venture funds
9. BioStratum, Durham; Biotech; $20 million (3rd)
Investors: BankInvest, Equity Resources Group, HealthCap and MP Bio
10. Servigistics, Atlanta; Software; $18 million (3rd)
Investors: Bain Capital Ventures (lead), Cordova Intellimedia Ventures, Encubate Technology Ventures, Robinson-Humphrey Netlanta Fund, SSM Ventures, Symphony Technology Group and UPS Strategic Enterprise Fund
11. Wave 7 Optics, Alpharetta, Ga.; Telecom; $15.5 million (3rd)
Investors: Oak Investment Partners (lead), Advanced Technology Ventures, Armada Venture Partners, Lucent Venture Partners, Mellon Ventures and Morgenthaler Ventures
12. Greenway Medical Technologies, Carrollton, Ga.; Software; $15 million (3rd)
Investors: Individuals
12. Serenex, Durham; Biotech; $15 million (2nd)
Investors: Intersouth Partners (lead), Lilly BioVentures, Mediphase Venture Partners and Seaflower Ventures
14. Proxima Therapeutics, Alpharetta, Ga.; Medical devices; $14 million (5th)
Investors: Montagu Newhall Associates (lead), Boston Scientific, Catalyst Ventures, Domain Associates, Hillman Medical Ventures, Lovett Miller & Co., Merrill Lynch Ventures, New Enterprise Associates and Pilgrim Baxter Hybrid Partners
15. Norak Biosciences, Research Triangle Park, N.C.; Biotech; $13 million (2nd)
Investors: Noro-Moseley Partners (lead), Alexandria Real Estate Equities, Aurora Funds, Intersouth Partners, Koch Ventures and Mitsui & Co. Venture Partners
16. Skylight Financial, Atlanta; Internet; $12.8 million (2nd)
Investors: GTCR Golder Rauner (lead), Walnut Investment Partners and individuals
17. V3 Systems, Charlotte; Software; $11.5 million (1st)
Investors: Sterling Venture Partners (lead), Draper Atlantic Management, SpaceVest and Updata Venture Partners
18. INC Research, Raleigh; Pharmaceutical services; $11 million (NA)
Investors: Crosspoint Venture Partners (lead)
18. GlobalCare, Alpharetta, Ga.; Internet; $11 million (1st)
Investors: Insight Venture Partners (lead), C&B Capital and THK Private Equities
20. N2 Broadband, Duluth, Ga.; IT services; $10 million (2nd)
Investors: Highland Capital Partners (lead) and AOL Time Warner Ventures
20. HiddenMind Technology, Cary, N.C.; Software; $10 million (4th)
Investors: JLT Group
20. Velant, Atlanta; IT services; $10 million (2nd)
Investors: 3i and Matrix Partners
23. Magnet Communications, Atlanta; Internet; $9.4 million (4th)
Investors: Conning Capital Partners and Total Technology Ventures
24. Peak 10, Charlotte; IT services; $9.2 million (3rd)
Investors: Frontier Capital and Seaport Capital
25. Proficient Systems, Atlanta; Software; $9 million (2nd)
Investors: GIMV (lead), Fuqua Ventures, Kinetic Ventures, Labrador Ventures and individuals
26. MediaSpan, Durham; Media; $8.5 million (1st)
Investors: Covestco-Seteura, Rustic Canyon Group, Southeast Interactive Technology Funds
26. Fast-Talk Communications, Atlanta; IT services; $8.5 million (2nd)
Investors: Boston Millennia Partners (lead), Atlanta Technology Angels, Cordova Ventures, HIG Ventures and SAIC Venture Capital
28. GenPhar, Mount Pleasant, S.C.; Biotech; $8 million (1st)
Investors: Individuals
28. Digiquant, Atlanta; IT services; $8 million (3rd)
Investors: General Atlantic Partners (lead), Cisco Systems, Index Ventures, Vertex Management and individuals
28. Pinpoint Networks, Cary; Software; $8 million (2nd)
Investors: Massey Burch Capital (lead), Atlantis Group, Noro-Moseley Partners, Tri-State Investment Group and Wakefield Group
31. NetOctave, Morrisville, N.C.; IT services; $7.8 million (2nd)
Investors: Intersouth Partners (lead), Intel Communications Fund, Kitty Hawk Capital, MCNC, North Carolina Enterprise Fund and Wakefield Group
32. Flamenco Networks, Atlanta; Telecom; $7.4 million (2nd)
Investors: Flagship Ventures (lead), Cordova Ventures and Noro-Moseley Partners
33. iOnosphere, Greenville, S.C.; Telecom; $7 million (2nd)
Investors: Pharos Capital (lead) and Trelys Venture Partners
33. Zoom Culture, Chapel Hill, N.C.; Media; $7 million (2nd)
Investors: Chrysalis Ventures (lead), Atlantis Group, Charlotte Angel Partners, Cordova Ventures, Intersouth Partners and Tri-State Investment Group.
35. Netifice Communications, Atlanta; Telecom; $6.5 million (3rd)
Investors: Boston Millennia Partners, Columbia Capital and HIG Ventures
35. TEAMM Pharmaceuticals, Morrisville, N.C.; Pharmaceuticals; $6.5 million (2nd)
Investors: Harbert Management (lead) and individuals
37. Cropsolution, Morrisville, N.C.; Biotech; $6.4 million (1st)
Investors: Aurora Funds (lead), ATP Capital, Atlantis Group, Charlotte Angel Partners and Research Triangle Ventures
38. HAHT Commerce, Raleigh; Software; $6 million (2nd)
Investors: Canaan Partners
38. iReadyWorld, Charlotte; IT services; $6 million (3rd)
Investors: Total Technology Ventures (lead), Greenspring Ventures and Red Badge Ventures
40. ChannelAdvisor, Morrisville, N.C.; Software; $5.7 million (2nd)
Investors: Genesis Venture Partners (lead), eBay, Southern Capitol Ventures, The Atlantis Group and Tri-State Investment Group
41. Lancope, Alpharetta, Ga.; Software; $5.55 million (1st)
Investors: GMG Capital Partners and HIG Capital
42. EG Technology, Atlanta; Telecom; $5.5 million (1st)
Investors: Noro-Moseley Partners (lead), Gray Ventures, HIG Ventures and Yamacraw Seed Capital
43. KnowledgeStorm, Alpharetta, Ga.; IT services; $5.25 million (2nd)
Investors: Sterling Venture Partners (lead), Apex Venture Partners, Imlay Investments, Live Oak Equity Partners and Total Technology Ventures
44. Datatrac, Atlanta; Software; $5 million (NA)
Investors: Megunticook Fund
44. MedCenterDirect.com, Atlanta; Internet; $5 million (4th)
Investors: Healthsouth, UBS Warburg
44. SiteScape, Wilmington, N.C.; IT services; $5 million (2nd)
Investors: Echelon Ventures, SAIC Venture Capital
44. CipherOptics, Raleigh; IT services; $5 million (1st)
Investors: Kodiak Venture Partners
44. eCompanyStore, Atlanta; Internet; $5 million (NA)
Investors: ITC Holdings
44. Oculan, Raleigh; IT services; $5 million (3rd)
Investors: Soros Private Equity Partners
44. FormScape, Morrisville, N.C.; Software; $5 million (2nd)
Investors: MTI Partners
51. Trinity Convergence, Raleigh; Telecom; $4.5 million (2nd)
Investors: Core Capital Partners, Intersouth Partners and Mid-Atlantic Venture Funds
51. Relativity Technologies, Cary, N.C.; Software; $4.5 million (3rd)
Investors: Intel Capital, Nichimen, Noro-Moseley Partners, Wakefield Group and individuals
53. VistaScape Technology, Atlanta; Software; $4.1 million (3rd)
Investors: Visionaria Venture Capital (lead), CDP Capital and individuals
54. AppGate, Durham; IT services; $4 million (3rd)
Investors: ABN Amro (co-lead), GE Equity (co-lead), Bure Equity, Industrifinans, Innovationskapital and Pythagoras
54. LastMinuteTravel.com, Atlanta; Internet; $4 million (NA)
Investors: Individuals
54. EZ Prints, Atlanta; Internet; $4 million (4th)
Investors: PA Early Stage Partners and The Cairnwood Group
54. ParinGenix, Charlotte; Biotech; $4 million (1st)
Investors: Academy Funds, A.P. Kennedy Family Securities and Research Corporation Technologies
58. DarPharma, Chapel Hill, N.C.; Biotech; $3.2 million (1st)
Investors: Stanley Foundation and individuals
59. Trinity Convergence, Raleigh; Telecom; $3.1 million (1st)
Investors: Core Capital Partners, Intersouth Partners, Mid-Atlantic Venture Funds
60. ConstructWare, Alpharetta, Ga.; Software; $3 million (3rd)
Investors: Cordova Ventures, Live Oak Equity Partners and Smith Harbor Ventures
60. MDdatacor, Alpharetta, Ga.; IT services; $3 million (2nd)
Investors: Dianon Systems and individuals
60. Total Billings, Fayetteville, N.C.; Software; $3 million (2nd)
Investors: Dogwood Equity and Frontier Capital
63. LiveWire Logic, Morrisville, N.C.; IT services; $2.8 million (2nd)
Investors: Gray Ventures (lead), A.M. Pappas & Associates, The Atlantis Group, Charlotte Angel Partners, Research Triangle Ventures, Tri-State Investment Group, truePilot and individuals
64. nTouch Research, Raleigh; Pharmaceutical services; $2.6 million (3rd)
Investors: Canaan Partners (co-lead), Intersouth Partners (co-lead), Bioventures and Tri-State Investment Group
65. Waveguide Solutions, Charlotte; Semiconductors; $2.5 million (2nd)
Investors: Academy Venture Funds and Southeast Interactive Technology Funds
65. BancIntelligence.com, Atlanta; Internet; $2.5 million (1st)
Investors: Imlay Investments and individuals
65. Firstdoor, Atlanta; Software; $2.5 million (5th)
Investors: Allen & Co. and individuals
65. Zoom Culture, Chapel Hill, N.C.; Media; $2.5 million (3rd)
Investors: Chrysalis Ventures, Cordova Ventures and Intersouth Partners
69. Procuri, Atlanta; Internet; $2 million (2nd)
Investors: Individuals
69. Vocalocity, Atlanta; Software; $2 million (1st)
Investors: Atlanta Technology Angels, Five Paces Ventures, Imlay Investments and Yamacraw Seed Fund
71. Kucera Pharmaceuticals, Winston-Salem, N.C.; Biotech; $1.9 million (1st)
Investors: Academy Funds, Piedmont Angel Network and individuals
72. 180Commerce, Atlanta; Software; $1.8 million (3rd)
Investors: Armada Venture Group and Imlay Investments
73. AvidXchange, Charlotte; Software; $1.75 million (2nd)
Investors: CT Communications (lead), Charlotte Angel Partners and individuals
74. Somatocor, Atlanta; Biotech; $1.7 million (seed)
Investors: Alliance Technology Ventures
75. epipeline, Atlanta; Internet; $1.5 million (3rd)
Investors: Crossbow Ventures
75. Gentris, Morrisville, N.C.; Biotech; $1.5 million (1st)
Investors: Exelixis, Research Triangle Ventures and individuals
75. ExchangeBlvd.com, Atlanta; Internet; $1.5 million (3rd)
Investors: Stephens
75. BioResource International, Raleigh; Biotech; $1.5 million (1st)
Investors: Chinese venture firm and individuals
75. FlexLight Networks, Atlanta; Telecom; $1.5 million (2nd)
Investors: Israeli Ministry of Trade
80. Fortel DTV, Duluth, Ga.; IT services; $1 million (NA)
Investors: Individuals
80. ChemCodes, Durham; Biotech; $1 million (2nd)
Investors: Emerging Technology Partners
80. MindValve, Charlotte; Software; $1 million (Seed)
Investors: Academy Venture Funds
80. KevSoft, Alpharetta, Ga.; Software; $1 million (1st)
Investors: Southeastern Technology Fund
84. Bandwidth.com, Durham; Telecom; $500,000 (1st)
Investors: Individuals
84. Network Genomics, Atlanta; Software; $500,000 (NA)
Investors: Individuals
84. Ryla Teleservices; IT services; $500,000 (1st)
Investors: Sustainable Jobs Fund
87. Regado, Durham; Biotech; $150,000 (Seed)
Investors: Aurora Funds, Intersouth Partners and MDS Capital
88. NeuroStar Solutions, Atlanta; Health care services; NA (Seed)
Investors: NextStart Capital
88. Xanthon, Research Triangle Park, N.C.; Biotech; NA (4th)
Investors: Aurora Funds, Franklin Street Partners, Intersouth Partners and Noro-Moseley Partners
88. BuildLinks, Raleigh; Software; NA (2nd)
Investors: Knier and Associates
88. ZapMedia, Atlanta; Telecom; NA (2nd)
Investors: Five Paces Ventures
