By Leena Rao, TechCrunch
“Code 42 Software, a Minnesota-based online backup company for consumers, businesses and the enterprise, has raised $52.5 million in funding led by Accel Partners with participation from Split Rock Partners.
This is the first major investment from Accel’s recently announced Big Data Fund, which is dedicated to funding infrastructure and application companies in “Big Data.” This is the first round of institutional investing for Code 42.”
Via News Release
“ST. CLOUD, Minn. —August 9, 2011 — eBureau, a leader in predictive analytics for consumer-facing businesses, today announced record revenue for the first half of 2011. The company’s sales experienced a double-digit percentage increase over the first half of 2010.
Much of the growth can be attributed to improvements to existing products and services, new customer wins and key industry partnerships and the rollout of eBureau’s new audience targeting solutions, aimed at online display advertisers and their agencies.”
eBureau declined to disclose revenue specifics, but did share some interesting details around their funding milestones:
Via News Release
“8thBridge, Inc., [formerly Alvenda] a social commerce platform merchants use to create social shopping experiences for their customers, today announced it has secured $10 million in a series B funding round led by venture firm Trident Capital.
The additional capital garnered through this funding round will be used to expand 8thBridge’s current operations and to extend the company’s leading social commerce solutions. 8thBridge’s lead Series A investor, Split Rock Partners, also participated in this round.”
Via News Release
“Springfield, VA (March 3, 2011) — USA Mobility, Inc. (Nasdaq: USMO), a leading provider of wireless messaging and communications services, today announced the acquisition of Amcom Software, Inc. for $163.3 million in cash, creating a company in the forefront of mission critical unified communications. The acquisition was funded by $110.8 million of cash on hand and $52.5 million through a credit facility provided by Wells Fargo Capital Finance, LLC.”
Recently ranked #895 of the 5,000 fastest-growing, private companies by Inc. Magazine, Amcom reported 2009 annual revenues of $41m and 336% three year growth. The deal also provides liquidity for local investors Split Rock Partners and Norwest Equity Partners, who purchased an undisclosed controlling stake in Jan 2010.
By Steven E.F.Brown, San Francisco Business Times
“Guardian Analytics raised $11 million in its fourth round of venture funding. The company got the money from a new investor — Split Rock Partners — and from previous investors Foundation Capital and Sutter Hill Ventures. Split Rock, which has offices in Menlo Park and Minneapolis, put Jim Simons on Guardian Analytics’ board of directors.”
The 9th production of MinnDemo will take place on Thursday, January 13, 6:00pm at St. Thomas’ Schulze Hall.
MinneDemo happens roughly 2-3 times per year to showcase real, working technology products made in Minnesota. In January, ten companies will give 7-minute demos of functional hardware and/or software. In addition to the Minnesota tech buzz, the event is known for facilitating some of the best startup networking in town.
Organizers Ben Edwards and Luke Francl have moved the event to St. Thomas from its previous location at Intermedia Arts in Uptown. “We’ve had such a huge level of interest in this event that we’ve needed to move it around as space has become an issue. We’re always looking for better venues,” said Ben. In the past the event has been held at Chang Mai Tai, Acadia Cafe (before it moved), O’Gara’s, and Intermedia Arts.
Updated 1/5/10 12:45 – The 10 demonstrations include:
“…venture-backed QuinStreet has more to boast about: The Internet media-and-marketing company may be hitting the public markets very soon. QuinStreet’s underwriters estimated the offering’s terms at 10 million shares at a price range of $17 to $19 apiece, meaning the company would raise up to $190 million and its market capitalization would be as high as $853 million. Its venture backers, which invested about $38 million into the company, include Split Rock Partners…”
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“QuinStreet Inc., a Foster City, Calif.-based provider of online vertical marketing solutions, has set its IPO terms to 10 million common shares being offered at between $17 and $19 per share. It had originally filed to raise $250 million. …QuinStreet has raised nearly $60 million in VC funding, from firms like Split Rock Partners (16.3% pre-IPO stake)…”
By Katharine Grayson, MSP Biz Journal
“Alvenda Inc., a tech startup that’s helping companies integrate small online store fronts into social networking and other Web sites, has closed on $5 million (Split Rock) in venture capital, according to a filing with the U.S. Securities and Exchange Commission.”
*Alvenda was the 2009 MN Cup Winner. Jamie Thingelstad has recently joined the Alvenda team as COO & CTO
By Thoams Lee, Via MedCity News
EDEN PRAIRIE, MINNESOTA – Norwest Equity Partners (NEP), Minnesota’s largest private equity firm, and Split Rock Partners have purchased a controlling stake in Amcom Software. Financial terms were not disclosed.
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