RALEIGH … October is often associated with stock market crashes, so maybe the fortunes of the Southeast venture market will improve now that the calendar has flipped over to November.
Last week saw just two deals … Customer relations software developer WebTone Technologies of Atlanta obtained $20 million and Waveguide Solutions of Charlotte, which integrates optoelectronics onto semiconductors, got an undisclosed amount … and the month as a whole saw only eight across the region.
Across the Southeast, 103 tech firms have raised more than $841 million in venture funding so far this year, for an average deal size of about $8.2 million. 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
9. WebTone Technologies, Atlanta; Software; $20 million (NA)
Investors: Technology Crossover Ventures and individuals
11. 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
12. Elogex, Charlotte; Software: $17 million (4th)
Investors: Fenway Partners
13. 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
14. Greenway Medical Technologies, Carrollton, Ga.; Software; $15 million (3rd)
Investors: Individuals
14. Serenex, Durham; Biotech; $15 million (2nd)
Investors: Intersouth Partners (lead), Lilly BioVentures, Mediphase Venture Partners and Seaflower Ventures
14. Overture Networks, Research Triangle Park, N.C.; Telecom; $15 million (2nd)
Investors: Morganthaler Ventures (lead), Armada Ventures, Atlantis Group, Charlotte Angel Partners, Gray Ventures, Intersouth Partners and Tri-State Investment Group
17. 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
18. 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
19. Skylight Financial, Atlanta; Internet; $12.8 million (2nd)
Investors: GTCR Golder Rauner (lead), Walnut Investment Partners and individuals
20. LVL7 Systems, Cary, N.C.; Software; $12.5 million (2nd)
Investors: Gabriel Venture Partners (co-lead), H.I.G. Ventures (co-lead), Accton Technology and individuals
21. Pinpoint Networks, Cary; Software; $12 million (2nd)
Investors: Massey Burch Capital (co-lead), New Enterprise Associates (co-lead), Atlantis Group, Noro-Moseley Partners, Tri-State Investment Group and Wakefield Group
22. V3 Systems, Charlotte; Software; $11.5 million (1st)
Investors: Sterling Venture Partners (lead), Draper Atlantic Management, SpaceVest and Updata Venture Partners
23. INC Research, Raleigh; Pharmaceutical services; $11 million (NA)
Investors: Crosspoint Venture Partners (lead)
23. GlobalCare, Alpharetta, Ga.; Internet; $11 million (1st)
Investors: Insight Venture Partners (lead), C&B Capital and THK Private Equities
25. N2 Broadband, Duluth, Ga.; IT services; $10 million (2nd)
Investors: Highland Capital Partners (lead) and AOL Time Warner Ventures
25. HiddenMind Technology, Cary, N.C.; Software; $10 million (4th)
Investors: JLT Group
25. Velant, Atlanta; IT services; $10 million (2nd)
Investors: 3i and Matrix Partners
28. Magnet Communications, Atlanta; Internet; $9.4 million (4th)
Investors: Conning Capital Partners and Total Technology Ventures
29. Peak 10, Charlotte; IT services; $9.2 million (3rd)
Investors: Frontier Capital and Seaport Capital
30. Proficient Systems, Atlanta; Software; $9 million (2nd)
Investors: GIMV (lead), Fuqua Ventures, Kinetic Ventures, Labrador Ventures and individuals
31. MediaSpan, Durham; Media; $8.5 million (1st)
Investors: Covestco-Seteura, Rustic Canyon Group, Southeast Interactive Technology Funds
31. 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
33. GenPhar, Mount Pleasant, S.C.; Biotech; $8 million (1st)
Investors: Individuals
33. Digiquant, Atlanta; IT services; $8 million (3rd)
Investors: General Atlantic Partners (lead), Cisco Systems, Index Ventures, Vertex Management and individuals
33. Netifice Communications, Atlanta; Telecom; $8 million (4th)
Investors: Boston Millennia Partners, Columbia Capital, Dolphin Communications Partners and H.I.G. Capital
36. 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
37. Flamenco Networks, Atlanta; Telecom; $7.4 million (2nd)
Investors: Flagship Ventures (lead), Cordova Ventures and Noro-Moseley Partners
38. iOnosphere, Greenville, S.C.; Telecom; $7 million (2nd)
Investors: Pharos Capital (lead) and Trelys Venture Partners
38. 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.
40. Netifice Communications, Atlanta; Telecom; $6.5 million (3rd)
Investors: Boston Millennia Partners, Columbia Capital and HIG Ventures
40. TEAMM Pharmaceuticals, Morrisville, N.C.; Pharmaceuticals; $6.5 million (2nd)
Investors: Harbert Management (lead) and individuals
42. Cropsolution, Morrisville, N.C.; Biotech; $6.4 million (1st)
Investors: Aurora Funds (lead), ATP Capital, Atlantis Group, Charlotte Angel Partners and Research Triangle Ventures
43. HAHT Commerce, Raleigh; Software; $6 million (2nd)
Investors: Canaan Partners
43. iReadyWorld, Charlotte; IT services; $6 million (3rd)
Investors: Total Technology Ventures (lead), Greenspring Ventures and Red Badge Ventures
45. 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
46. Lancope, Alpharetta, Ga.; Software; $5.55 million (1st)
Investors: GMG Capital Partners and HIG Capital
47. EG Technology, Atlanta; Telecom; $5.5 million (1st)
Investors: Noro-Moseley Partners (lead), Gray Ventures, HIG Ventures and Yamacraw Seed Capital
48. 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
49. Datatrac, Atlanta; Software; $5 million (NA)
Investors: Megunticook Fund
49. MedCenterDirect.com, Atlanta; Internet; $5 million (4th)
Investors: Healthsouth, UBS Warburg
49. SiteScape, Wilmington, N.C.; IT services; $5 million (2nd)
Investors: Echelon Ventures, SAIC Venture Capital
49. CipherOptics, Raleigh; IT services; $5 million (1st)
Investors: Kodiak Venture Partners
49. eCompanyStore, Atlanta; Internet; $5 million (NA)
Investors: ITC Holdings
49. Oculan, Raleigh; IT services; $5 million (3rd)
Investors: Soros Private Equity Partners
49. FormScape, Morrisville, N.C.; Software; $5 million (2nd)
Investors: MTI Partners
56. Trinity Convergence, Raleigh; Telecom; $4.5 million (2nd)
Investors: Core Capital Partners, Intersouth Partners and Mid-Atlantic Venture Funds
56. Relativity Technologies, Cary, N.C.; Software; $4.5 million (3rd)
Investors: Intel Capital, Nichimen, Noro-Moseley Partners, Wakefield Group and individuals
58. VistaScape Technology, Atlanta; Software; $4.1 million (3rd)
Investors: Visionaria Venture Capital (lead), CDP Capital and individuals
59. AppGate, Durham; IT services; $4 million (3rd)
Investors: ABN Amro (co-lead), GE Equity (co-lead), Bure Equity, Industrifinans, Innovationskapital and Pythagoras
59. LastMinuteTravel.com, Atlanta; Internet; $4 million (NA)
Investors: Individuals
59. EZ Prints, Atlanta; Internet; $4 million (4th)
Investors: PA Early Stage Partners and The Cairnwood Group
59. ParinGenix, Charlotte; Biotech; $4 million (1st)
Investors: Academy Funds, A.P. Kennedy Family Securities and Research Corporation Technologies
59. Encelle, Raleigh; Biotech; $4 million (4th)
Investors: Intersouth Partners, Koerner Capital and North Carolina Enterprise Fund
64. Ziptronix, Research Triangle Park, N.C.; Hardware; $3.5 million (2nd)
Investors: Alliance Technology Ventures, Research Triangle Ventures, RTI International and Xilinx
65. DarPharma, Chapel Hill, N.C.; Biotech; $3.2 million (1st)
Investors: Stanley Foundation and individuals
66. Trinity Convergence, Raleigh; Telecom; $3.1 million (1st)
Investors: Core Capital Partners, Intersouth Partners, Mid-Atlantic Venture Funds
67. ConstructWare, Alpharetta, Ga.; Software; $3 million (3rd)
Investors: Cordova Ventures, Live Oak Equity Partners and Smith Harbor Ventures
67. MDdatacor, Alpharetta, Ga.; IT services; $3 million (2nd)
Investors: Dianon Systems and individuals
67. Total Billings, Fayetteville, N.C.; Software; $3 million (2nd)
Investors: Dogwood Equity and Frontier Capital
70. 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
71. nTouch Research, Raleigh; Pharmaceutical services; $2.6 million (3rd)
Investors: Canaan Partners (co-lead), Intersouth Partners (co-lead), Bioventures and Tri-State Investment Group
72. Waveguide Solutions, Charlotte; Semiconductors; $2.5 million (2nd)
Investors: Academy Venture Funds and Southeast Interactive Technology Funds
72. BancIntelligence.com, Atlanta; Internet; $2.5 million (1st)
Investors: Imlay Investments and individuals
72. Firstdoor, Atlanta; Software; $2.5 million (5th)
Investors: Allen & Co. and individuals
72. Zoom Culture, Chapel Hill, N.C.; Media; $2.5 million (3rd)
Investors: Chrysalis Ventures, Cordova Ventures and Intersouth Partners
76. Procuri, Atlanta; Internet; $2 million (2nd)
Investors: Individuals
76. Vocalocity, Atlanta; Software; $2 million (1st)
Investors: Atlanta Technology Angels, Five Paces Ventures, Imlay Investments and Yamacraw Seed Fund
76. LURHQ, Myrtle Beach, S.C.; IT services; $2 million (1st)
Investors: Frontier Capital
79. Kucera Pharmaceuticals, Winston-Salem, N.C.; Biotech; $1.9 million (1st)
Investors: Academy Funds, Piedmont Angel Network and individuals
80. 180Commerce, Atlanta; Software; $1.8 million (3rd)
Investors: Armada Venture Group and Imlay Investments
80. AvidXchange, Charlotte; Software; $1.75 million (2nd)
Investors: CT Communications (lead), Charlotte Angel Partners and individuals
82. Somatocor, Atlanta; Biotech; $1.7 million (seed)
Investors: Alliance Technology Ventures
83. epipeline, Atlanta; Internet; $1.5 million (3rd)
Investors: Crossbow Ventures
83. Gentris, Morrisville, N.C.; Biotech; $1.5 million (1st)
Investors: Exelixis, Research Triangle Ventures and individuals
83. ExchangeBlvd.com, Atlanta; Internet; $1.5 million (3rd)
Investors: Stephens
83. BioResource International, Raleigh; Biotech; $1.5 million (1st)
Investors: Chinese venture firm and individuals
83. FlexLight Networks, Atlanta; Telecom; $1.5 million (2nd)
Investors: Israeli Ministry of Trade
88. Fortel DTV, Duluth, Ga.; IT services; $1 million (NA)
Investors: Individuals
88. ChemCodes, Durham; Biotech; $1 million (2nd)
Investors: Emerging Technology Partners
88. MindValve, Charlotte; Software; $1 million (Seed)
Investors: Academy Venture Funds
88. KevSoft, Alpharetta, Ga.; Software; $1 million (1st)
Investors: Southeastern Technology Fund
88. Seventh Wave Technology, Atlanta; IT services; $1 million (3rd)
Investors: Southeastern Technology Fund (lead), Jemison Investment Co., Miller Investments a
