Term Sheet

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

Venture capital deals

February 5, 2013: 10:10 AM ET

New Relic Inc., a San Francisco-based provider of application management SaaS solutions, has raised $80 million in "mezzanine" financing. Insight Venture Partners led the round, and was joined by T. Rowe Price, Dragoneer Investment Group, Passport Ventures and return backers Allen & Company, Benchmark Capital, Trinity Ventures and Tenaya Capital. New Relic said that round was "in preparation for a future public offering." www.newrelic.com

eBaoTech, a Shanghai-based provider of software solutions to the global insurance industry, has raised $36 million in growth equity funding. FTV Capital led the round, and was joined by Cathay Capital Private Equity. www.ebaotech.com

WhiteHat Security, a Santa Clara, Calif.-based provider of Web security solutions, has raised $31 million in new equity funding. JMI Equity led the round, and was joined by return backer Investor Growth Capital. www.whitehatsec.com

Hailo, a UK-based taxi app network, has raised $30.6 million in new VC funding. Union Square Venturesled the round, and was joined by Japan's KDDI and Richard Branson. Existing investors include Atomico, Accel Partners and Wellington Partners. www.hailocab.com

Ravello Systems, a Palo Alto, Calif.-based testing platform for the public cloud, has raised $26 million in new VC funding. Sequoia Capital led the round, and was joined by Norwest Venture Partners and Bessemer Venture Partners. www.ravellosystems.com

Spredfast, an Austin, Texas-based provider of social marketing software, has raised $18 million in new VC funding. OpenView Venture Partners led the round, and was joined by return backers Austin Ventures and InterWest Partners.  www.spredfast.com

Piston Cloud Computing Inc., a San Francisco-based developer of commercialized OpenStack software for businesses, has raised $8 million in Series B funding. Cisco Systems, Data Collective and Swisscom Ventures were joined on the round by return backers Divergent Ventures, Hummer Winblad and True Ventures. www.pistoncloud.com

Coalfire, a Louisville, Colo.-based provider of IT governance, risk and compliance solutions, has raised $3.6 million in second-round funding from return backer Baird Capitalwww.coalfire.com

TeamSnap, a Boulder, Colo.-based mobile and web service for managing ongoing activities, has raised $2.75 million in new VC funding led by Torstarwww.teamsnap.com

Plum Perfect, an online and mobile visual recommendation engine for color and product recommendations, has raised $1.3 million in seed funding from Golden Seedswww.plumperfect.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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