Region Approaching $900M in Venture Deals This Year

RALEIGH … Three more venture deals were announced in the Carolinas and Georgia last week, bringing the total this year to $892 million. But time is rapidly running out if the region wants to bring in more than $1 billion in venture financing for the fourth straight year.

Although sources indicate more deals are in the works, they also admit that it’s strictly a matter of timing as to whether any of those deals will happen this year as the approaching holidays will soon close the window on realistically finishing the paperwork before January.

Last week, Atlanta-based Altea Therapeutics landed a $17 million round, while software developers Bloodhound brought in $3 million and MDdatacor obtained $2.3 million.

In the region, 110 tech firms have raised an average of $8.1 million in venture capital so far this year. 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

12. Altea Therapeutics, Atlanta; Biotech; $17 million (2nd)

Investors: Domain Associates (co-lead), Venrock Associates (co-lead) and vSpring Capital

14. 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

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

Investors: Individuals

15. Serenex, Durham; Biotech; $15 million (2nd)

Investors: Intersouth Partners (lead), Lilly BioVentures, Mediphase Venture Partners and Seaflower Ventures

15. 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

18. 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

19. Dynogen Pharmaceuticals, Durham; Biotech; $13.25 million (1st)

Investors: Oxford Bioscience Partners (lead), A.M. Pappas & Associates and HealthCare Ventures

20. 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

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

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

22. 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

23. Pinpoint Networks, Cary, N.C.; 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

24. V3 Systems, Charlotte; Software; $11.5 million (1st)

Investors: Sterling Venture Partners (lead), Draper Atlantic Management, SpaceVest and Updata Venture Partners

25. INC Research, Raleigh; Pharmaceutical services; $11 million (NA)

Investors: Crosspoint Venture Partners (lead)

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

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

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

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

27. HiddenMind Technology, Cary, N.C.; Software; $10 million (4th)

Investors: JLT Group

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

Investors: 3i and Matrix Partners

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

Investors: Conning Capital Partners and Total Technology Ventures

31. Peak 10, Charlotte; IT services; $9.2 million (3rd)

Investors: Frontier Capital and Seaport Capital

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

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

32. GuardedNet, Atlanta; Software; $9 million (1st)

Investors: M/C Venture Partners (lead), Imlay Investments and Technical Consulting Services

34. MediaSpan, Durham; Media; $8.5 million (1st)

Investors: Covestco-Seteura, Rustic Canyon Group, Southeast Interactive Technology Funds

34. 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

36. GenPhar, Mount Pleasant, S.C.; Biotech; $8 million (1st)

Investors: Individuals

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

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

36. Netifice Communications, Atlanta; Telecom; $8 million (4th)

Investors: Boston Millennia Partners, Columbia Capital, Dolphin Communications Partners and H.I.G. Capital

39. 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

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

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

41. iOnosphere, Greenville, S.C.; Telecom; $7 million (2nd)

Investors: Pharos Capital (lead) and Trelys Venture Partners

41. 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.

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

Investors: Boston Millennia Partners, Columbia Capital and HIG Ventures

43. TEAMM Pharmaceuticals, Morrisville, N.C.; Pharmaceuticals; $6.5 million (2nd)

Investors: Harbert Management (lead) and individuals

45. Cropsolution, Morrisville, N.C.; Biotech; $6.4 million (1st)

Investors: Aurora Funds (lead), ATP Capital, Atlantis Group, Charlotte Angel Partners and Research Triangle Ventures

46. HAHT Commerce, Raleigh; Software; $6 million (2nd)

Investors: Canaan Partners

46. iReadyWorld, Charlotte; IT services; $6 million (3rd)

Investors: Total Technology Ventures (lead), Greenspring Ventures and Red Badge Ventures

48. 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

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

Investors: GMG Capital Partners and HIG Capital

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

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

51. 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

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

Investors: Megunticook Fund

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

Investors: Healthsouth, UBS Warburg

52. SiteScape, Wilmington, N.C.; IT services; $5 million (2nd)

Investors: Echelon Ventures, SAIC Venture Capital

52. CipherOptics, Raleigh; IT services; $5 million (1st)

Investors: Kodiak Venture Partners

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

Investors: ITC Holdings

52. Oculan, Raleigh; IT services; $5 million (3rd)

Investors: Soros Private Equity Partners

52. FormScape, Morrisville, N.C.; Software; $5 million (2nd)

Investors: MTI Partners

59. Trinity Convergence, Raleigh; Telecom; $4.5 million (2nd)

Investors: Core Capital Partners, Intersouth Partners and Mid-Atlantic Venture Funds

59. Relativity Technologies, Cary, N.C.; Software; $4.5 million (3rd)

Investors: Intel Capital, Nichimen, Noro-Moseley Partners, Wakefield Group and individuals

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

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

62. AppGate, Durham; IT services; $4 million (3rd)

Investors: ABN Amro (co-lead), GE Equity (co-lead), Bure Equity, Industrifinans, Innovationskapital and Pythagoras

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

Investors: Individuals

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

Investors: PA Early Stage Partners and The Cairnwood Group

62. ParinGenix, Charlotte; Biotech; $4 million (1st)

Investors: Academy Funds, A.P. Kennedy Family Securities and Research Corporation Technologies

62. Encelle, Raleigh; Biotech; $4 million (4th)

Investors: Intersouth Partners, Koerner Capital and North Carolina Enterprise Fund

67. YellowBrick Solutions, Morrisville, N.C.; Software; $3.9 million (3rd)

Investors: Artai Luxembourg and P3

68. Ziptronix, Research Triangle Park, N.C.; Hardware; $3.5 million (2nd)

Investors: Alliance Technology Ventures, Research Triangle Ventures, RTI International and Xilinx

69. DarPharma, Chapel Hill, N.C.; Biotech; $3.2 million (1st)

Investors: Stanley Foundation and individuals

70. Trinity Convergence, Raleigh; Telecom; $3.1 million (1st)

Investors: Core Capital Partners, Intersouth Partners, Mid-Atlantic Venture Funds

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

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

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

Investors: Dianon Systems and individuals

71. Total Billings, Fayetteville, N.C.; Software; $3 million (2nd)

Investors: Dogwood Equity and Frontier Capital

71. Bloodhound, Durham; Software; $3 million (4th)

Investors: Noro-Moseley Partners (lead), A.M. Pappas & Associates, Eno River Capital and Wakefield Group

75. 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

76. nTouch Research, Raleigh; Pharmaceutical services; $2.6 million (3rd)

Investors: Canaan Partners (co-lead), Intersouth Partners (co-lead), Bioventures and Tri-State Investment Group

77. Waveguide Solutions, Charlotte; Semiconductors; $2.5 million (2nd)

Investors: Academy Venture Funds and Southeast Interactive Technology Funds

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

Investors: Imlay Investments and individuals

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

Investors: Allen & Co. and individuals

77. Zoom Culture, Chapel Hill, N.C.; Media; $2.5 million (3rd)

Investors: Chrysalis Ventures, Cordova Ventures and Intersouth Partners

81. MDdatacor, Alpharetta, Ga.; Software; $2.3 million (3rd)

Investors: Dianon Systems, Snomark, Jupiter Partners and individuals