Category Archives: Investment

Pendo Launches the First Product Engagement Platform and Raises $1.0m Seed Round

RALEIGH, NC, November 4, 2014  — Pendo, the product engagement company, today announced the launch of its platform for product managers as well as $1.025 million of seed funding for propelling growth and customer adoption. Pendo has already secured more than 35 early customers for its product, which is designed to help software companies increase feature usage, improve usability, and reduce product churn.

Pendo, installed easily by adding a single snippet of code into any web application, is now available to the public as an open beta via its website at:

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STAQ Inc. Closes $2.5 Million Series A Financing

NEW YORK, Oct. 20, 2014  — STAQ Inc., which makes ad operations more efficient by unifying ad technology through reporting, connections and integrations, today closed a $2.5 million Series A round of institutional financing led by Genacast Ventures and Core Capital. Other investors include Kinetic Ventures, Revel Partners and The Hive, which also provided STAQ’s seed round funding of $1.1 million.

Founded in 2012, STAQ Inc. develops and provides STAQ, a collection, reporting, and integrations system for advertisement technology. Its product combines advertisement reporting that enables users to view their campaigns, inventory, audience data, sales pipeline, and analytics from across all of their advertising technology. Already, STAQ has integrated into more than 175 of the most widely used technologies among publishers and marketers, including ad servers, RTB exchanges, DSPs, SSPs, audience targeting systems, analytics, CRM and workflow tools. Continue reading

Luminal Closes $10m Series B Financing, Led by NEA

FREDERICK, MD, August 14, 2014—Luminal, a Maryland-based startup developing next-generation solutions for cloud operations and management, announced it has closed a $10M Series B financing round, led by New Enterprise Associates (NEA). Previous investors, including Core Capital Partners and Maryland Venture Fund, also participated in the round. This brings Luminal’s total amount of financing to $13.8M.

“This investment led by NEA will allow us to grow our team and expand our beta customer base in advance of general availability of our product,” said Josh Stella, founder and CEO of Luminal. “We’re building solutions from first principles to tackle hard problems in computing, and the strong support we’ve received from NEA, Core Capital, Maryland Venture Fund, and our other investors helps make that possible.” Continue reading

Load DynamiX Closes $12 Million Financing Round Led by HighBar Partners

Santa Clara, CA, May 21, 2014– Load DynamiX, the leader in storage infrastructure performance validation, announced today that it has raised a $12 million round of funding, led by HighBar Partners.

Having established itself as the leading supplier of storage performance validation solutions to the storage and network technology vendors, Load DynamiX expanded its focus to enterprise IT and cloud service provider organizations in 2013. The company recently released the Load DynamiX Enterprise Series solutions that combine advanced storage workload modeling and extreme load generation into an integrated 2RU appliance designed to meet the needs of Global 1000 companies. Continue reading

ZeroFOX Secures $11M in Series A Funding Led by NEA to Combat Social Cyber Attacks

BALTIMORE, MD—April 30, 2014—ZeroFOX, The Social Risk Management Company™, today announced it has secured $10.7 million in Series A funding led by New Enterprise Associates (NEA). The funding round includes a $450K non-dilutive incentive from the State of Maryland. Also participating in the round were earlier investors Genacast Ventures (a fund in partnership with Comcast Ventures), Core Capital and a number of notable security industry luminaries including Enrique Salem (Board Member at FireEye and former CEO of Symantec), Dean Drako (Founder and CEO of Eagle Eye Networks and founder, BOD and former CEO of Barracuda Networks), Michael Fey (General Manager and WW CTO at McAfee), John M. Jack (Former CEO of Fortify and currently a Board Partner at Andreessen Horowitz), Ken Levine (CEO of Verdasys and former CEO of Nitro Security), and Todd Headley (former CFO of SourceFire), amongst others, bringing total funding over the last 12 months to $13 million. Continue reading

Luminal Closes $3.8m Series A Financing, Led by Core Capital, Maryland Venture Fund, and NEA

FREDERICK, MD—April 22, 2014—Luminal has closed a $3.8MM Series A financing round with Core Capital Partners, Maryland Venture Fund, New Enterprise Associates, and other investors. The round includes the conversion of $1.1MM in convertible debt the company raised in August 2012.

Luminal is addressing deficiencies in traditional computing architectures that perpetuate operational complexity and security vulnerabilities. The company is working with early customers to further develop its solution for general availability, initially on Amazon Web Services.

The current model for computing is broken, and bad actors are racing far ahead of available defenses. We’re taking advantage of the nature of cloud computing to deliver native security, declarative control, and operational simplicity previously unattainable.

The company will use the investment to grow its engineering staff to continue product development and expand its customer base.

DivvyCloud Closes $900,000 Seed Round

MCLEAN, VA, April 15, 2014 — DivvyCloud, enabling today’s hybrid and multi-cloud strategies with its Cloud Management Platform, announced today it has closed on $900,000 first round of funding. Investors include CIT GAP Funds, Core Capital Partners, Acceleprise and New Dominion Angels, among other investors. DivvyCloud will use the funds to continue to expand the product feature set, private and public cloud support, and meet increasing customer demand.

DivvyCloud’s platform allows users to view and manage all public/private cloud instances – regardless of the underlying cloud technology or service – through a single pane of glass. “We see DivvyCloud adding significant value by providing clarity to what can often be a muddled cloud infrastructure,” said CIT GAP’s Dan Henderson. “We see potential for this solution to benefit a variety of customers ranging from cloud service providers to small online businesses to large enterprises as they pursue secure, agile and cost-efficient cloud strategies.”

DivvyCloud Co-Founder and CEO Brian Johnson said he and his team are pursuing a product vision based on their experiences managing hybrid and multi-cloud environments at Electronic Arts, the $3.8B leader in online gaming. “We designed and built a product to handle the complexity we faced in the day-to-day management of over 5,000 servers in five countries to support millions of paying subscribers. DivvyCloud simplifies the process of managing cloud resources, and allows our customers to focus on what makes their business great.”

Core Capital’s Evan MacQueen expressed enthusiasm for the investment, saying, “Hybrid / Multi-cloud strategies will become best practice, and DivvyCloud is perfectly positioned to help businesses exploit the dynamic market for cloud computing to meet their business goals.” As part of the transaction, Bill Boyle, founder and former CEO of FiberGate, will join the DivvyCloud board of directors.

Follow DivvyCloud on Twitter (@DivvyCloud) and LinkedIn or visit the website at