Term Sheet

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

Venture capital deals

May 18, 2012: 9:27 AM ET

Utopia Inc., a Mundelein, Ill.-based provider of enterprise data management solutions, has raised $50 million in new VC funding. FTV Capital led the round, and was joined by Liberty Mutual Insurance.www.utopiainc.com

NextIO, an Austin, Texas-based provider of /O consolidation and networking solutions, has raised $12.3 million in Series F funding. Return backers include Adams Capital Managementwww.nextio.com

Single Digits Inc., a Manchester, N.H.–based provider of mobile device connectivity, management and support services, has raised $10 million in equity funding from Tudor Growth Equity.www.singledigits.com 

AxialMarket, a New York-based platform that helps private companies manage and execute mergers and other financial transactions, has raised $6.5 million in Series A funding. Redpoint Ventures led the round, and was joined by family office Cove Point Holdings and return backers First Round Capital and Windcrest Partners. Read more.

Carnegie Speech, a Pittsburgh-based developer of spoken language training software, has raised $3.4 million in Series B funding. Backers include Osage Venture Partners, Golden Seeds and New York Angles. www.carnegiespeech.com

Crowdtilt, a San Francisco-based "group-funding" startup, has raised $2.1 million in first-round funding. Backers include Y Combinator, SV Angel, CrunchFund, Dole Capital, Paul Buchheit and Alexis Ohanian.www.crowdtilt.com

Spotify, a social music service, is seeking to raise upwards of $220 million at a $4 billion valuation, according to the NY Times. Goldman Sachs has agreed to lead the round with a $100 million commitment, but the remaining positions are not yet filled. Spotify previously raised over $100 million from Creandum, Wellington Partners, Founders Fund, Kleiner Perkins Caufield & Byers, Accel Partners and DST Group. www.spotify.com

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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