According to a report published by Venture Deal, Venture Captal invest in software industry is on rise. During this period, 109 Software companies raised a total capital of $675 million between themselves, representing an increase of 4% in total funding amount and an increase of 3% in the number of companies funded.
According to teh report, the average financing round size registered a slight increase, from $6.1 million in Q4 09 to $6.2 million in the current quarter.
The largest funding of the quarter was a $110 million round for PowerPlan. The company sells fixed asset software for large, capital intensive industries. JMI Equity and TPG Growth provided the growth equity funding.
In the Application Programming Interface (API) space, Mashery closed on $5.5 million for its third round of venture capital funding. The company helps businesses create and manage their information sharing platforms. Among its venture capital firm backers, it also accepted strategic investment in this round from corporate investor Cisco Systems.
Cisco also invested in Grid Net. Grid Net is designing platforms to integrate intelligence into electrical grids from the source to the end-user. The company’s investor syndicate also includes noted energy VC Braemar Energy Ventures.
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