By Dan Primack
May 15, 2014

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Venture Capital Deals

Inspire Medical Systems Inc., a Minneapolis-based developer of an implanted device for a subset of patients suffering from obstructive sleep apnea, has raised $40 million in Series E funding. OrbiMed Advisors led the round, and was joined by Johnson & Johnson Development Corp., Aperture Venture Partners and return backers Kleiner Perkins Caufield & Byers, US Venture Partners, Synergy Life Science Partners, Medtronic, GDN Holdings and TGap Ventures. www.inspiresleep.com

Netskope, a Los Altos, Calif.-based provider of cloud app analytics and policy enforcement, has raised $35 million in Series C funding. Accel Partners led the round, and was joined by Lightspeed Venture Partners and The Social+Capital Partnership. www.netskope.com

OpenDNS, a San Francisco-based provider of cloud-delivered security solutions, has raised $35 million in new VC funding. Glynn Capital, Cisco, Evolution Equity, Lumia Capital, Mohr Davidow Ventures and Northgate Capital were joined by return backers Greylock Partners, Sequoia Capital and Sutter Hill Ventures. www.opendns.com

Pantheon Systems, a San Francisco-based platform for organizations to develop and manage their websites, has raised $21.5 million in Series B funding. Scale Venture Partners led the round, and was joined by OpenView Venture Partners and return backers First Round Capital and Foundry Group. www.getpantheon.com

Ceterix Orthopaedics Inc., a Menlo Park, Calif.-based developer of surgical tools for arthroscopic procedures, has raised $18 million in new private funding. Novo A/S, Versant Ventures and 5AMVentures provided equity, while Silicon Valley Bank and Oxford Finance provided debt. www.ceterix.com

PeopleDoc, a provider of HR governance solutions, has raised $17.5 million in Series B funding. Accel Partners led the round, and was joined by return backers Alven Capital, Kernel Investissements and Priceminister founder Pierre Kosciusko-Morizet. Read more at Fortune.

QBotix, a Menlo Park, Calif.-based developer of robotic systems for solar energy projects, has raised $12 million in Series B funding. E.ON and Iberdrola were joined by return backers New Enterprise Associates, Firelake Capital Management and Draper Nexus. www.qbotix.com

Sinch, a Stockholm-based communications platform that will let mobile developers “add a layer of voice and messaging to their apps,” has raised $12 million in VC funding. Backers include Index Venturesand Balderton Capital. The company was incubated within Rebtel Networks. www.rebtel.com

The Whistle, a sports-focused online media startup, has secured a $10 million convertible note. Backers include Peyton Manning, Derek Jeter, Emil Capital and Bob Pittman. Read more.

BetterCloud, a New York-based provider of enterprise cloud management and security software for Google Apps, has raised $8.6 million in third-round funding, according to a regulatory filing. Existing shareholders include Flybridge Capital Partners, Greycroft Partners, TriBeCa Venture Partners, Bear Creek Capital, Hallett Capital and BLH Venture Partners. www.bettercloud.com

Darby Smart, a San Francisco-based DIY craft kit subscription service, has raised $6.3 million in Series A funding. Maveron led the round, and was joined by Forerunner Ventures and CAA Ventures. www.darbysmart.com

LearnSprout, a San Francisco-based data analytics platform for K-12 educators to identify at-risk students, has raised $4.2 million in Series A funding. Backers include Formation8, Samsung Ventures and ex-Blackboard president Justin Tan. www.learnsprout.com

Chartbeat, a New York-based provider of real-time analytics for websites, has raised $3.1 million in new VC funding. Return backers DFJ and Index Ventures were joined by new investors Lerer Ventures, Freestyle Capital, LAUNCH Fund, SoftTech VC and Lowercase Capital. The company previously raised around $14 million. www.chartbeat.com

Posiq, a San Jose, Calif.-based big data platform for restaurants and brands, has raised $3.2 million in Series A funding. Backers include Thayer Ventures and SVG Partnerswww.posiq.net

Ditto Labs, a Boston-based provider of photo analytics, has raised $2.2 million in new VC funding. Backers include Cue Ball Group, The Mars Agency and Nicholas Negroponte. www.ditto.us.com

Niche, a New York-based platform for connecting brands to social media stars, has raised $2.5 million in new VC funding. SoftTechVC led the round, and was joined by Lerer Ventures, SV Angel, Advancit Capital, William Morris Endeavor, Kevin Colleran, Gary Vaynerchuk and Box Group. Read more at Fortune.

YouEarnedIt, an Austin, Texas-based employee-to-employee recognition and engagement software platform, has raised $1.5 million in seed funding from such backers as WPP and Capital Factorywww.youearnedit.com

Essen BioScience Inc., an Ann Arbor, Mich.-based provider of analytical tools for cell-baed life science research, has raised an undisclosed amount of funding from SFW Capital Partnerswww.essenbioscience.com

JustFab Inc., an El Segundo, Calif.-based fashion ecommerce subscription company, is in talks to raise between $50 million and $100 million in Series D funding, according to Re/Code. Morgan Stanley is managing the process. The company raised $40 million last September from Shining Capital Management (Hong Kong), Matrix Partners, Rho Ventures, Technology Crossover Ventures and Intelligent Beauty. One month earlier it acquired ShoeDazzle. www.justfab.com

Private Equity Deals

American Industrial Partners has acquired SERVA, a Catoosa, Okla.–based maker of fracking equipment and related equipment, from Wexford Capital. No financial terms were disclosed. www.servagroup.com

Audax Group
 has acquired Miratech, a Tulsa, Okla.-based maker of emission control and engine performance products for industrial engines. No financial terms were disclosed. In related news, Audax will spin off the silencing business of existing portfolio company Phillips & Temro Industries, and merge it with Miratech. www.miratechcorp.com

Energy Investors Funds
 has acquired Starfish Pipeline Co., a midstream gas infrastructure company operating in Louisiana, from a subsidiary of Enbridge Inc. (TSX: ENB). No financial terms were disclosed.

Source Refrigeration & HVAC
, an Anaheim, Calif.-based portfolio company of Arsenal Capital Partners, has acquired Service Refrigeration LLC, a Houston, Texas-based provider of refrigeration and HVAC services to grocery, commercial, and industrial clients in Texas. No financial terms were disclosed. www.sourcerefrigeration.com

Verafin Inc
., a Canadian provider of fraud detection and anti-money laundering software to North American financial institutions, has raised C$60 million from Spectrum Equity. RBC Capital Markets served as placement agent. www.verafin.com

Water Street Healthcare Partners has acquired a majority stake in Orgentec Diagnostika, a German developer of diagnostic assays for autoimmune and infectious diseases. No financial terms were disclosed. www.orgenetec.com

IPOs

Good Technology Corp., a Sunnyvale, Calif.-based provider of enterprise mobility solutions, has filed for a $100 million IPO. Morgan Stanley is listed as lef-tlead underwriter. The company reports a $118 million net loss on around $160 million in revenue for 2013, compared to a $90 million net loss on $116 million in revenue for 2012. The company has raised more than $150 million in VC funding, from firms like Oak Investment Partners (22.5% pre-IPO stake), Draper Fisher Jurvetson (11.7%), Lazard Technology Partners (7.6%), Meritech Capital Partners (6.3%), Saints Rustic Canyon (6.2%) and Riverwood Capital Partners (4.7%). Read more.

Zendesk Inc., a San Francisco-based provider of an on-demand helpdesk, raised $100 million in its IPO. The company priced 11.11 million shares at $9 per share (middle of $8-$10 range), for an initial market cap of approximately $632 million. It will trade on the NYSE under ticker symbol ZEN, while Goldman Sachs, Morgan Stanley and Credit Suisse served as lead underwriters. Zendesk reports a $22 million net loss on $72 million in revenue for 2013, compared to a $24 million net loss on $38 million in revenue for 2012. It had raised more than $90 million in VC funding from Charles River Ventures (24.5% pre-IPO stake), Benchmark (18.7%), Matrix Partners (8.8%), Redpoint Ventures, GGV Capital, Index Ventures and Goldman Sachs. www.zendesk.com

ZS Pharma Inc., a Fort Worth, Texas-based developer of treatments for kidney and liver disease, has filed for an $86.25 million IPO. It plans to trade on the Nasdaq under ticker symbol ZSPH, with J.P. Morgan and Credit Suisse serving as lead underwriters. The pre-revenue company has raised over $55 million in VC funding from such firms as Alta Partners (22.9% pre-IPO stake), Devon Park Bioventures (17.94%), 3×5 Special Opportunity Partners (16.55%), Salem Partners (12.96%) and RiverVest Venture Partners. www.zspharma.com

M&A

AerCap Holdings NV (NYSE: AER) has completed its $7.6 billion purchase of aircraft leasing business International Lease Finance Corp. from American International Group (NYSE: AIG). In related news, ILFC has withdrawn its IPO registration. www.aercap.com

Carphone Warehouse Group (LSE: CPW) and fellow British electronics retailer Dixons Retail (LSE: DXNS) announced a merger that would create a £3.7 billion company. www.cpwplc.com 

Landis+Gyr (Switzerland) has acquired PowerSense, a Denmark-based provider of smart grid technologies. No financial terms were disclosed. PowerSense backers included New Energy Solutions Management and Vækstfonden. www.powersense.com

FuelQuest, a Houston, Texas-based portfolio company of Saracen Energy Partners, has sold its energy-related tax automation business to Avalara, a Bainbridge Island, Wash.–based provider of cloud-based sales tax and compliance automation technology. No financial terms were disclosed. Avalara has raised more than $20 million in VC funding from Battery Ventures, Benaroya Capital, Pioneer Venture Partners and Sageview Capital. www.avalara.com

Navigant (NYSE: NCI) has acquired Cymetrix Corp., an Irvine, Calif.–based provider of revenue cycle management solutions. The deal is valued at upwards of $100 million, including $75 million in cash at closing and $25 million in possible earn-outs. Sellers include RLH Equity Partnerswww.cymetrix.com

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