December 19th, 2014 | Philadelphia Business Journal by Lauren Hertzler
As the year comes to a close, these five Philadelphia technology startups can look back on 2014 with pride. They all successfully raised Series B financing rounds, a massive accomplishment for a growing business.
When a startup meets significant milestones, it’s likely to secure a Series B round, if it’s going the investor route. The financing round before Series B is Series A, understandably.
- In June, Curalate, which has had consistent growth in its product’s offerings, raised $8.6 million from longtime investors New Enterprise Associates, First Round Capital and MentorTech Ventures. Vayner RSE, social media guru Gary Vaynerchuk‘s venture firm, also joined in on the funding for Curalate, a 2-year-old analytics and marketing suite for Pinterest, Instagram, Facebook and Tumblr.
- RJMetrics unveiled in September that it had raised a massive $16.5 million, led by Silicon Valley-based August Capital, which has invested in a slew of successful businesses like Microsoft, Skype and Sun Microsystems. RJMetrics’ co-founder and CEO Robert Moore said the new funding would go toward accelerating the analytics platform’s product development and continuing customer growth.
- Aclaris Therapeutics is a dermatology biotech company that raised $21 million in a private stock sale in October. The Series B venture capital financing followed the company’s completion of a phase-II clinical trial that yielded positive results for its lead product candidate, A-101, which is being developed as treatment for a common type of skin tumor known as seborrheic keratoses.
- Earlier this month, Zonoff announced that it raised $31.8 million. Last November, Zonoff entered into an agreement with Staples to provide the software platform that powers Staples Connect, a home automation solution found in hundreds of Staples retail stores today.
- LiquidHub, a systems integrator and technology consultancy that works with businesses to improve customer engagement and drive growth, announced a $53 million investment led by private equity firm ChrysCapital in March. The investment supports LiquidHub’s development plans — including more strategic mergers and acquisitions (like the one with Foundry9 in October.)
December 19, 2014 | The Huffington Post The Blog by Jon Gosier
“We decided the best way to get into the venture space was to establish our own small fund. With a fund we could collectively share the risk of investing and the burdens of legal compliance, the costs, and the necessary due diligence. We could also leverage more capital than any one of us could on our own. For instance, some of us had dabbled in angel investing before but were only doing about one or two deals per year. The fund could invest in upwards of eight per year!
“So our group of nine eventually came together, each putting in a minimum of $10,000. Over the life of the fund we’ll have deployed between $300,000 and $500,000 in capital. Because we were the third cohort to go through the GS10K program in Philadelphia we named our fund to honor the circumstances, Third Cohort Capital.”
December 10, 2014 | New York Times by John Grossman
Daniel Fine is the founder and chief executive of Glass-U, a two-year-old, 10-employee maker of foldable sunglasses bearing the licensed brands of universities, music festivals like Lollapalooza, and the World Cup soccer tournament last summer. He arranges for the manufacture of the glasses in China and their distribution around the country. He’s also a senior in college.
Mr. Fine financed Glass-U, which operates out of off-campus housing, in part with proceeds from a tutoring company, NexTutors, that he started right after high school. He has also founded Fine Prints, a custom apparel company he started during high school, and Dosed, a health care technology company that is working on a smartphone app to help diabetics.
December 2, 2014 | Technical.ly by Juliana Reyes
Nadia James used to work at LinkedIn’s London office, running international social media campaigns for major corporations like Google, American Express, IBM and Chanel.
After nearly two years at the company, the 25-year-old realized that smaller companies couldn’t afford digital marketing advice from a place like LinkedIn. So she moved back home, to Northern New Jersey, and opened up her own shop.
Griot Digital, named for the word for a West African storyteller, serves customers like Rutgers University, SemperCon and Practice Unite.
Once James got her business off the ground, she started scoping out cities to move to. She found Philly last spring, right before Philly Tech Week, which she said sealed the deal for her. (Full, self-serving disclosure: Technical.ly organizes Philly Tech Week.)
Below, she explains how she went from apartment hunting in Fishtown to office hunting (in Fishtown) in just six months and what’s overwhelming about the local tech scene.