Hot Georgia Venture Summer Closes With a Whimper

ATLANTA … Venture activity in Georgia has slowed to a trickle in September after a flood of deals during the summer.

Only one deal, Seventh Wave Technology’s $1 million third round, was announced last week, bringing the monthly total to just four deals. Georgia still leads the region with $427 million in venture capital raised so far this year.

Forty-six tech companies in the state have closed deals through mid-September, with the average deal size of almost $9.3 million. Here is a look at LocalTechWire’s exclusive list of Georgia deals, ranked according to the size of the investment:

Company; Industry; Amount (Round)

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

4. Pathfire, Roswell; 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

5. Wave 7 Optics, Alpharetta; Telecom; $23 million (2nd)

Investors: ATV Capital (lead), Armada Ventures, Lucent Venture Partners, Mellon Ventures and Morganthaler Ventures

6. 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

7. Wave 7 Optics, Alpharetta; Telecom; $15.5 million (3rd)

Investors: Oak Investment Partners (lead), Advanced Technology Ventures, Armada Venture Partners, Lucent Venture Partners, Mellon Ventures and Morgenthaler Ventures

8. Greenway Medical Technologies, Carrollton; Software; $15 million (3rd)

Investors: Individuals

9. Proxima Therapeutics, Alpharetta; 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

10. Skylight Financial, Atlanta; Internet; $12.8 million (2nd)

Investors: GTCR Golder Rauner (lead), Walnut Investment Partners and individuals

11. GlobalCare, Alpharetta; Internet; $11 million (1st)

Investors: Insight Venture Partners (lead), C&B Capital and THK Private Equities

12. N2 Broadband, Duluth; IT services; $10 million (2nd)

Investors: Highland Capital Partners (lead) and AOL Time Warner Ventures

12. Velant, Atlanta; IT services; $10 million (2nd)

Investors: 3i and Matrix Partners

14. Magnet Communications, Atlanta; Internet; $9.4 million (4th)

Investors: Conning Capital Partners and Total Technology Ventures

15. Proficient Systems, Atlanta; Software; $9 million (2nd)

Investors: GIMV (lead), Fuqua Ventures, Kinetic Ventures, Labrador Ventures and individuals

16. 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

17. Digiquant, Atlanta; IT services; $8 million (3rd)

Investors: General Atlantic Partners (lead), Cisco Systems, Index Ventures, Vertex Management and individuals

18. Flamenco Networks, Atlanta; Telecom; $7.4 million (2nd)

Investors: Flagship Ventures (lead), Cordova Ventures and Noro-Moseley Partners

19. Netifice Communications, Atlanta; Telecom; $6.5 million (3rd)

Investors: Boston Millennia Partners, Columbia Capital and HIG Ventures

20. Lancope, Alpharetta; Software; $5.55 million (1st)

Investors: GMG Capital Partners and HIG Capital

21. EG Technology, Atlanta; Telecom; $5.5 million (1st)

Investors: Noro-Moseley Partners (lead), Gray Ventures, HIG Ventures and Yamacraw Seed Capital

22. KnowledgeStorm, Alpharetta; IT services; $5.25 million (2nd)

Investors: Sterling Venture Partners (lead), Apex Venture Partners, Imlay Investments, Live Oak Equity Partners and Total Technology Ventures

23. Datatrac, Atlanta; Software; $5 million (NA)

Investors: Megunticook Fund

23. MedCenterDirect.com, Atlanta; Internet; $5 million (4th)

Investors: Healthsouth, UBS Warburg

23. eCompanyStore, Atlanta; Internet; $5 million (NA)

Investors: ITC Holdings

26. VistaScape Technology, Atlanta; Software; $4.1 million (3rd)

Investors: Visionaria Venture Capital (lead), CDP Capital and individuals

27. LastMinuteTravel.com, Atlanta; Internet; $4 million (NA)

Investors: Individuals

27. EZ Prints, Atlanta; Internet; $4 million (4th)

Investors: PA Early Stage Partners and The Cairnwood Group

29. ConstructWare, Alpharetta; Software; $3 million (3rd)

Investors: Cordova Ventures, Live Oak Equity Partners and Smith Harbor Ventures

29. MDdatacor, Alpharetta, Ga.; IT services; $3 million (2nd)

Investors: Dianon Systems and individuals

31. BancIntelligence.com, Atlanta; Internet; $2.5 million (1st)

Investors: Imlay Investments and individuals

31. Firstdoor, Atlanta; Software; $2.5 million (5th)

Investors: Allen & Co. and individuals

33. Procuri, Atlanta; Internet; $2 million (2nd)

Investors: Individuals

33. Vocalocity, Atlanta; Software; $2 million (1st)

Investors: Atlanta Technology Angels, Five Paces Ventures, Imlay Investments and Yamacraw Seed Fund

35. 180Commerce, Atlanta; Software; $1.8 million (3rd)

Investors: Armada Venture Group and Imlay Investments

36. Somatocor, Atlanta; Biotech; $1.7 million (seed)

Investors: Alliance Technology Ventures

37. epipeline, Atlanta; Internet; $1.5 million (3rd)

Investors: Crossbow Ventures

37. ExchangeBlvd.com, Atlanta; Internet; $1.5 million (3rd)

Investors: Stephens

37. FlexLight Networks, Atlanta; Telecom; $1.5 million (2nd)

Investors: Israeli Ministry of Trade

40. Fortel DTV, Duluth; IT services; $1 million (NA)

Investors: Individuals

40. KevSoft, Alpharetta; Software; $1 million (1st)

Investors: Southeastern Technology Fund

40. Seventh Wave Technology, Atlanta; IT services; $1 million (3rd)

Investors: Southeastern Technology Fund (lead), Jemison Investment Co., Miller Investments and Richgood Corp.

43. Network Genomics, Atlanta; Software; $500,000 (NA)

Investors: Individuals

43. Ryla Teleservices; IT services; $500,000 (1st)

Investors: Sustainable Jobs Fund

45. ZapMedia, Atlanta; Telecom; NA (2nd)

Investors: Five Paces Ventures

45. NeuroStar Solutions, Atlanta; Health care services; NA (Seed)

Investors: NextStart Capital