Georgia Deal Flow Remains Dammed Up

Georgia once again failed to post a venture deal last week, the sixth time since March that that has happened.

The state actually did exhibit some venture activity last week, but it was on the investor side. Atlanta-based WellFound Technology put an undisclosed amount behind International IT Services of Raleigh.

So far this year, Georgia has posted 15 deals for about $70 million … a far cry off the blistering pace of 28 deals for $284 million by late May a year ago.

Here’s LTW’s exclusive list of Georgia venture deals, ranked according to the size of the investment:

Company; Sector; Amount (Round):

1. Prenova, Marietta; IT services; $15.5 million (3rd)

Investors Frontenac (lead) Austin Ventures and River Cities Capital Funds

2. STI Knowledge, Atlanta; Software; $14 million (1st)

Investors: Satish Sanan (individual lead) BV-Cornerstone Ventures and Mellon Ventures

3. nuBridges, Atlanta; Software; $11 million (2nd)

Investors: hf Flagship Investments (lead), C&B Capital, GMT Capital, Noro-Moseley, Tycho and Marie Hawle Foundation and individuals

4. Brickstream, Atlanta; Software; $6.2 million (1st)

Investors: Columbia Capital and Mohr Davidow Ventures

5. Lancope, Alpharetta; IT Services; $5 million (2nd)

Investors: HIG Ventures and GMG Capital Partners

6. Q1 Labs, Atlanta; Software; $3.3 million (1st)

Investors: Business Development Bank of Canada and New Brunswick Investment Management

7. Flexlight, Atlanta; Networking; $3 million (2nd)

Investors: Coral Ventures and Concord Ventures

7. Quellan, Atlanta; Hardware; $3 million (2nd)

Investors: Cordova Intellimedia Ventures, Greenspring Ventures, ITU Ventures, National Semiconductor, University Financing Foundation and Yamacraw Seed Capital Fund III

9. CoreCard Software, Norcross; Software; $2.5 million (NA)

Investors: Intelligent Systems

10. Qcept, Atlanta; Hardware; $2.1 million (NA)

Investors: Pittco Capital Partners (lead), Atlanta Technology Ventures and Bergman & Associates

11. Auctionworks, Atlanta; Software; $2 million (2nd)

Investors: Undisclosed

12. AfterBOT, Norcross; Software; $835,000 (2nd)

Investors: River Cities Capital Funds

13. SAK Logistics, Atlanta; Software; $500,000 (1st)

Investors: Individuals

14. RYLA Teleservices, Woodstock; IT services; $100,000 (2nd)

Investors: Sustainable Jobs Fund