Venture capital deals

Aug 20, 2012

Magnet Systems, a Palo Alto, Calif.-based developer of social collaboration apps for the enterprise, has sold a 17.1% ownership stake to HTC Corp. for $35.4 million. Magnet previously had raised $12.6 million in first-round funding from Andreessen Horowitz.

Segetis Inc., a Golden Valley, Minn.-based developer of chemical building blocks for renewable materials, has raised $25.5 million in Series C funding. Saudi Basic Industries Corp. Ventures led the round, and was joined by PNB Equity Resource Corp. and return backers Khosla Ventures, Malaysia Life Science Capital Fund and DSM Venturing.

SimpliVity, a Westborough, Mass.-based provider of IT infrastructure solutions for virtualized environments, has raised $18 million in VC funding from Accel Partners and Charles River Ventures.

Patientco, an Atlanta-based developer of healthcare expense management solutions for patients and healthcare providers, has raised $3.75 million in Series A funding co-led by BlueCross BlueShield Venture Partners and Sandbox Industries.

Sqrll, a Cambridge, Mass.-based big data startup that provides software and services for Apache Accumulo, has raised an undisclosed amount of VC funding from Atlas Venture and Matrix Partners.

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