It's Who You Know
Beg Borrow and Steal
Open secrets have a way of getting out eventually. Betabeat first reported the scuttlebutt that Klout was closing in on a round of funding in October and now AllThingsD has confirmation from Klout. The social influence measuring service admits that Series C round everyone had an inkling about did indeed close in November.
CEO Joe Fernandez said Kleiner Perkins, which lead the startup’s $8.5 million Series B round in January, also lead this round with KPCB partner Chi-Hua Chien joining the board. Although Mr. Fernandez wouldn’t comment on the price or valuation, multiple sources, including Business Insider, are reporting that it was a $30 million round, which put the company at a $200 million valuation.
Smartling CEO Jack Welde just closed a $10 million Series B round from existing investors (U.S. Venture Partners, Venrock and First Round Capital) as well as a new face: IDG Ventures.Venrock’s David Pakman is already on the company’s board, now joined by Steve Krausz from USVP. Clients like Foursquare, IMVU, Scribd, and SurveyMonkey use Smartling’s cloud-based platform to create and maintain multilingual versions of their websites and mobile apps. The platform allows for combing different translation methods such as crowdsourced, professional, or machine learning.
“The Web is, by definition, worldwide, so every site and app should be multilingual. With this funding, we’ll continue to optimize our elegant, easy-to-use solution for this historically complex and costly technology process,” Mr. Welde said in a press release. But there’s a more practical, monetizable motivation than just democratizing the web for the good of the global internet.
The Third Degree
One week after being promoted from senior associate to principal at Greycroft Ventures, Marissa Campise has taken a new job as vice president at Venrock’s New York office.
Peter Kafka reports the poach was made with a more aggressive offer. Beyond just the dollars, Campise will also be part of a smaller team and Read More
David Pakman is a partner at Venrock and a board member at the New York Venture Capital Association. He was formerly an entrepreneur, helping to introduce the idea of the “digital locker” for music files and serving as CEO of eMusic.
Q: You always remember the ones that got away. Tell us about the startup you regret passing on the most.
A: That’s easy. Twitter. It’s not really fair to say that we passed, but we did not fight hard enough to get in to their Series C round.