Technically Philly is a news site covering technology news in Philadelphia.

Tag Archives: Ben Franklin Technology Partners

VC Roundup: BFTP invests in 5, Venmo gets funded

Welcome to the VC Round-up, where we’ll parse through venture capital news related to Philadelphia-based private equity firms and the companies they fund. Subscribe to the roundup as an email newsletter. If you have any VC-related news to pass along to us, please drop us a line.

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Ben Franklin Technology Partners has invested $800,000 in five locally-based companies. Three of the companies (Aklero, EyeIC and Jenrin) are getting their second round of funding from BFTP, while Glastone Associates and Quantason are receiving thief first round of funding. The companies are in the medical and financial industries.


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VC Roundup: GoodCompany goes to NYC, ETF changes name

Welcome to the VC Round-up, where we’ll parse through venture capital news related to Philadelphia-based private equity firms and the companies they fund. Subscribe to the roundup as an email newsletter. If you have any VC-related news to pass along to us, please drop us a line.

DEFINITE READS

GoodCompany Ventures is kicking off a handful of events up and down the east coast to discuss the social good of entrepreneurship and to raise awareness about the fund’s 2010 incubator. First up: The 67th Ward. The panel will be moderated by Fred Wilson, founder of Union Square Ventures and well-read VC blogger. The fund promises Technically Philly that a Philly event is in the works, but for now we’ll be at the NYC edition. So if you managed to snag tickets, be sure to say hello.

Tengion, a Quaker BioVentures backed company is raising money for an IPO.

ETF Ventures has changed its name to SeventySix Capital. Presumably because of the company’s West Conshohocken location right off of the Schuylkill Expressway. Or, as another theory suggests, they’re big basketball fans.


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VC Roundup: State’s VC market is “too small”

Welcome to the VC Round-up, where we’ll parse through venture capital news related to Philadelphia-based private equity firms and the companies they fund. Subscribe to the roundup as an email newsletter. If you have any VC-related news to pass along to us, please drop us a line.

Edit: Corrected source of Yodle funding.

DEFINITE READS

BFTP has announced its New Energy Plan, a contest awarding $35,000 to entrepreneurs looking to start a clean energy-oriented company. The contest deadline is April 15th, like your taxes.

First Round Capital has created an exchange fund for entrepreneurs. The fund allows portfolio companies to give up a piece of ownership in their own company for a tiny share of ownership in all First Round companies. Got that?

The Brookings Institution has released a report saying the state’s VC market is too small. “There are more things [the state] could do that wouldn’t impact the budget,” it says, citing BFTP as a step in the right direction.

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VC Roundup: Philly is home to 2 of the most active VC firms in U.S., DreamIt open for applications

Welcome to the VC Round-up, where we’ll parse through venture capital news related to Philadelphia-based private equity firms and the companies they fund. Subscribe to the roundup as an email newsletter. If you have any VC-related news to pass along to us, please drop us a line.

DEFINITE READS

PriceWaterhouseCoopers has released its Q4 MoneyTree report, complete with regional data showing Philly bouncing back from a disappointing Q3 with $142 million being invested in 28 deals, mostly in medical and biotechnology. See all the deals listed here. Silicon Valley continues its rebound with $2.2 billion of investment, nearly four times the next closet metro area. In total dollars invested, Philly ranks 12th out of 17 markets.

If you ever wonder why there is so much First Round and BFTP news on Technically Philly, its probably because First Round Capital and Ben Franklin Technology Partners were ranked the forth and 19th most active VC firms in the nation by Dow Jones VentureSource, respectively. The Wall Street Journal points out that the average age of firms on the list is 24, while First Round Capital is only six years old. Meanwhile, BFTP/SEP announced it has invested nearly $1 million in five local companies.


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Event Highlights for December 14 – December 20, 2009

Wednesday’s the one.

There’s four events happening Wednesday evening, and we’ll hope you’ll at least drop by Nodding Head Brewery to say hello to the Technically Philly crew at our first monthly meetup. We won’t hold you up too long, we promise.

Then it’s off to philly.NET, Web Analytics Wednesday or Entrepreneurs Unplugged to cap the evening off with Philly tech events.

Tuesday, don’t miss Ben Franklin Technology Partners’ Capital Briefing and on Thursday, Agile Philly returns the party to Nodding Head for its own holiday meetup.

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Event Highlights for December 7 – December 13, 2009

Edited: Corrected time of BFTP.

Hope you weren’t trying to get any work done in these weeks before the holidays.

Our event calendar is as packed it has ever been, chock full of events for every kind of techie. Whether you want to brush up on your Python or throw down with your fellow new media heads, you have no excuse for driving straight home after work.

Start off the week at the home of our new Comcast overlords, taking in Chris Bartlett of Gay History Wiki, whom we’ve covered in the past, at this month’s Refresh Philly. Then, hold off until Thursday and take the day off to better familiarize yourself with Ben Franklin Technology Partners’ application process. When you are done plotting the next great Philadelphia business, head on over to PANMA’s holiday party to spend your future riches.

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Startup Leaders hosts second annual Founder Factory to mixed reaction

Founder Factory audience members were given a chance to offer advice, along with panelists, to startups like language-learning tool PlaySay.

Founder Factory audience members were given a chance to offer advice, along with panelists, to startups like language-learning tool PlaySay.

More than 250 gathered throughout the day for the second annual Founder Factory, a sold-out gathering of entrepreneurs, investors and students organized by Philly Startup Leaders at World Cafe Live in University City Thursday.

The event was a chance for business-minded folks to gather, discuss, dissect and learn about the work they are doing throughout the spheres of startups, education and investing.

Presenters from Ben Franklin Technology Partners, Wharton Business School, Internet Capital Group, myYearbook and Monetate were rotated with fishbowl sessions— where young startups pitch their idea to experienced business people for advice—each ushered onto the stage to red and blue stage lighting and dramatic rock and jazz music.

During the afternoon, 150 attendees listened to entrepreneurial conversations while seated at long dining tables in front of the stage, standing at the bar, or gazing down from the mezzanine level, while a handful mingled in a nondescript lobby.
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Links: Alex Hillman and Kelly Lee spar, the Baltimore tech scene and More

DEFINITE READS

After the jump, a Ben Franklin expansion, Thrillist cats called coolest and eight more tech stories, including our best read piece of the week.

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ClickEquations: Paid search, online advertising and why Google is not your friend

A screenshot of a ClickEquations client's paid-search portfolio, breaking down a variety of ad campaigns.

A screenshot of a ClickEquations client's paid-search portfolio, breaking down a variety of ad campaigns.

The ClickEquations crew say they do what they do best because they were once the customer.

Launched in 2006, the Conshohocken-based company was once strictly a search agency managing mostly large-sized pay-per-click accounts, but founder and president Craig Danuloff and team increasingly found limitations in the tools available for the accounts they handled.

“The best products are the ones created to help the consumer, right?” says Alex Cohen, the company’s marketing manager.

So, that’s what Danuloff, who got involved in e-commerce software as early as 1994, and CEO Lucinda Holt did. The duo moved the company’s focus to developing tools that company’s themselves could use to manage their own paid-search accounts  — placing and tracking links listed on search engines by chosen keywords.

Since that private beta launch last August, things have turned out alright, so far, for the company trying to own paid search, which is the targeted, contextual advertising that appears on Web sites, particularly search engines, according to keyword relevance.

Eight investors, including Philadelphia investors Emerald Stage2 Ventures, MentorTech Ventures and Ben Franklin Technology Partners, last month invested $3 million in the firm’s expansion, including growing their development staff to accelerate the number of features they offer. Nautica, Comcast, Liz Claiborne and Forbes Traveler are among their high-profile clients, with other announcements on the way, Cohen says.

For continued growth, ClickEquations will win over lots of companies that aren’t using ad management tool and, Cohen says, explain just why “Google is not your friend.”


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Technically Not Tech: Larger Than Life Prints, a partnership with Start SOMA and coverage by TechCrunch

ltlkare

Pulling a fabric graphic printed by Larger Than Life Prints from a wall is easy and clean. The graphic has been removed without a tear. The wall remains unmarred, without a mark.

It’s a landlord’s dream.

The Old City-based company, founded by Kendall Schoenrock and business partner Carsten Petzold, provides the technology that allows users to submit their own high-resolution graphics and print them on one- to seven-foot fabric sheets that can easily be placed on a wall. Artists, too, are able to cash in on the action. By partnering with the site, they are able to price their works appropriately, and keep a portion of the sales after material and labor has been deducted by LTL.

Thought it may seem little like a technology startup, LTL is funded by Ben Franklin Technology Partners and has been active in Philadelphia’s and Silicon Valley’s technology communities.

Recently, the company announced a partnership with San Francisco-based Start SOMA to feature well-known artists organized by Start on one of LTL’s partner pages. The two companies have managed to nab art by Susan Kare, the graphic designer who created the original graphics and fonts for Macintosh computers, urban artist Justin Bua, Sugarluxe and a handful of other known artists.


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