But even though all of the 75 specialty technology funds listed by Morningstar are down year-to-date, some of the portfolio managers have found ways to minimize the carnage, which has seen the category pushed into the red by an average of 19.16 percent as of Friday.
A campaign will be launched on Tuesday to ask U.S. tech companies to help save Bletchley Park, whose wartime work helped lay the foundations of modern computing and crytography.
The fund-raising campaign will be led by cryptography provider PGP, together with IBM and other technology firms. Phil Dunkelberger, chief executive of PGP, told ZDNet UK in a video interview that the group of companies would be making donations to repair the buildings at Bletchley Park, including the National Museum of Computing, and would be calling for other organizations to get involved.
"We're calling attention (to the fact … Read more
Bug Labs, maker of do-it-yourself kits for electronic gadgets, has quietly raised a third round of financing from Union Square Ventures, Spark Capital, and Court Square Ventures, CNET News has learned.
A spokesman for the New York-based Bug Labs confirmed the new round of financing Tuesday, but he did not disclose financial details of the deal, much like with the company's previous two rounds. Virginia-based Court Square Ventures led the investment.
It might sound very Noah's Ark, but this is not a joke: $12 million in government funding, as well as bandwidth from two research hubs, has been awarded to the Global Environment for Network Innovations (GENI), a project from BBN Technologies that literally wants to rebuild the whole Internet.
The funding comes from the National Science Foundation, and it's in the form of a three-year grant that will span about $4 million per year. More specifically, it's for GENI's "design and risk-reduction prototyping," and will involve contracting 29 university research teams. The Internet has … Read more
Zynga, which specializes in games for social-networking sites, has received $29 million in a new funding round led by Kleiner Perkins Caufield & Byers and Institutional Venture Partners.
The round, announced Wednesday, also includes funding from previous investors Union Square Ventures, Foundry Group, and Avalon Ventures.
Zynga, based in San Francisco and started by Tribe.net social-network founder Mark Pincus, added that Bing Gordon, a Kleiner Perkins partner and former chief creative officer of Electronic Arts, is joining Zynga's board. Zynga also announced its acquisition of YoVille, which it describes as the "largest virtual world game on social … Read more
I just saw the news that Zend has raised $7 million more, in its fifth (Series E) round of funding. Zend last raised $20 million in August 2006. Zend has raised so much money that it must be bought for a bazillion dollars for its investors to get a good return from it.
There are good reasons to raise money heading into a downturn: The justification noted in the press release is to use the funds "as needed." That sounds like "in case things go awry during a recessionary period." This is smart.
One of two … Read more
Open-source Web conferencing provider Dimdim has raised $6 million in Series B funding, the company is set to announce on Wednesday.
The funding round, which was led by current investors Index Ventures, Nexus India Capital, and Draper Richards, will enable Dimdim to introduce enhancements to the free service and expand its market reach.
Dimdim competes with fee-based services like Webex. Because it is open source, it could become a platform for real-time communications if it garners enough developer support, my CNET colleague Rafe Needleman predicts.
Since its private launch 10 months ago, Boston-based Dimdim has attracted more than 500,000 … Read more
Video surveillance firm VideoIQ is set to announce on Wednesday morning a $10 million Series B funding round.
Lehman Brothers Venture Partners is leading the round, and current investors Matrix Partners and Atlas Venture are participating.
The funding will be used to help VideoIQ expand to new markets and continue product development of its IP video surveillance and video analytics products, the company says.
Bedford, Mass.-based VideoIQ was spun out of GE Security in 2007 and is headed by Scott Schnell, a former RSA executive.
Kaltura, the video company that's considered a blend of YouTube and Wikipedia, has closed a second round of funding.
The New York-based company, which has become something of a media darling, declined to disclose the amount but did say the round, led by .406 Ventures, was "significantly larger" than the $2.1 million the start-up secured from Avalon Ventures and angel investors.
Kaltura appears on its way to becoming a high-flying service. Flip through the upcoming issue of Esquire and you'll see Ron Yekutiel, the company's co-founder and CEO, modeling a suit as part of … Read more
That rumor of a $400 million valuation might not be too far off base: social-media application powerhouse RockYou announced Monday that it has raised $35 million in Series C venture capital.
The round was led by venture firm DCM, with contributions from several private investors. Previous RockYou investors include Lightspeed Venture Partners, Partech International, and Sequoia Capital.
It's the kind of money that may raise a few eyebrows, considering many believe the social-application space doesn't offer a proven business model yet. RockYou is responsible for a number of popular applications--SuperWall, Vampires, Likeness, X Me--on Facebook and several OpenSocial-compatible … Read more