Draper Triangle Weblog
Our Weblog covers news and developments with our firm, portfolio companies, Network Partners and the venture capital industry at large.
BodyMedia Launches GoWear Fit
BodyMedia, Inc. has launched GoWear Fit - a lifestyle and calorie management system that helps consumers monitor their body and improve their health. GoWear Fit is now available through a distribution network that includes Dick's Sporting Goods retail locations nationwide, dickssportinggoods.com, and gowearfit.com. The system has three components: an armband, an online activity manager, and an optional display. GoWear fit retails for $199. Subscription rates for the Online Activity Manager are between $6.95 and $12.95/month, and are available at www.gowearfit.com. The optional display retails for $99. Visit www.bodymedia.com for complete details.
November 25, 2008 | Permalink
Carnegie Learning Curricula Preferred Learning Resource in KY Through 2015
The Kentucky State Textbook Commission has approved Carnegie Learning Bridge to Algebra, Algebra I, Algebra II and Geometry textbooks for use in middle and high schools from 2009-2015. Clinton County School District in Kentucky has been using the company's Bridge to Algebra, Algebra I and Geometry Math Solutions since 2006, and recently added the final component of the program, Algebra II. Paula Little, Clinton County School District Instructional Supervisor said that the implementation of Carnegie Learning curricula in the classrooms has brought "tremendous gains on [the] state math assessment scores." Learn more at www.carnegielearning.com.
November 13, 2008 | Permalink
Precision Therapeutics Raises $43 Million
Precision Therapeutics has secured $43 million in additional funding to expand the development and commercialization of ChemoFX, a diagnostic test that helps physicians select the most effective chemotherapeutic regiment for cancer patients. The round was led by Longitude Venture Partners, and included existing investors Draper Triangle, Adams Capital Management, Quaker BioVentures, Birchmere Ventures, and Techno Venture Management. The capital infusion will allow the company to expand its market penetration and pursue new programs concerning individualized therapy for cancer patients. The company has raised $105 million in VC funds in the last 10 years. Learn more at www.precisiontherapeutics.com.
November 11, 2008 | Permalink
BFTP Announces $100,000 Big Idea Contest
The Ben Franklin Venture Investment Forum (BFVIF) in conjunction with the Ben Franklin Technology Partners of Central and Northern PA (BFTP) announces the Big Idea Business Plan Contest. The grand prize of $100,000 will be awarded to one technology-oriented company to start or further develop the business in Pennsylvania. The grand prize represents a four-fold increase from previous Big Idea contests. Applicants must have business operations (or the willingness to move) in any one of the 32 participating counties in the Central and Northern PA region.
Interested entrepreneurs can visit http://100k.benfranklin.org for rules, entry forms, and FAQs. The deadline for entries is December 17, 2008.
November 6, 2008 | Permalink
7 Pittsburgh Companies Get $41M in 3Q
According to an article in the Pittsburgh Business Times, seven Pittsburgh companies received a combined $41.36 million in venture, angel and government funding during the third quarter of 2008, the largest third-quarter infusion in five years. Almost all of the companies are in the life sciences/biotech category. Draper Triangle participated in three of the financing rounds: Aethon, ClearCount Medical Solutions and Entermedia, where the companies raised a combined $18.26 million.
October 30, 2008 | Permalink
Carnegie Learning Partners with Noel-Levitz on Math Readiness
Carnegie Learning has partnered with enrollment management consultants Noel-Levitz in an effort to help increase college-level student rentention through improved math readiness. The partnership will pair retention management and consulting services from Noel-Levitz with Carnegie Learning's research-based Developmental Math Solution. For more information, visit www.carnegielearning.com.
October 30, 2008 | Permalink
BitArmor Takes Tech 50 Top IT Award
The Pittsburgh Technology Council held its 12th Annual Tech 50 Award presentation celebrating the region's 50 leading technology-oriented companies in eight categories for 2008. Several of our portfolio companies made the finalist list, including BitArmor Systems and Carnegie Learning in the Information Technology category; Plextronics in the new-for-2008 Green Tech category; and ClearCount Medical Solutions in the Rising Star group. BitArmor took the top spot in the IT category based on product innovation, revenue growth, and job creation and retention. Congratulations to all the finalists. For a full list of finalists and more information on the awards, visit www.pghtech.org.
October 21, 2008 | Permalink
ClearCount Medical Solutions Closes Series A Round
ClearCount Medical Solutions, an innovator of patient safety solutions for the operating room, has closed a $4.1M Series A financing roung. The company plans to use the funds to accelerate sales efforts of its RFID technology for the prevention of retained surgical sponges. Draper Triangle led the round. Learn more about ClearCount's innovative patient safety technology at www.clearcount.com.
October 17, 2008 | Permalink
