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New media app developer Whipclip, whose mobile application enables users to create clips of scenes from television shows and share them with friends, has raised $16 million, at a company valuation of $100 million. The company was only formed last July by Israeli entrepreneurs Ron Zuckerman and Ori Birnbaum, raising $6 million at a company valuation of $20 million. Since then, it has recruited Richard Rosenblatt – cofounder of Demand Media and former MySpace chairman – as CEO. Investors include Institutional Venture Partners; Raine Ventures; Greycroft Partners; William Morris Endeavor and Steve Bornstein, a former ESPN and ABC president. Whipclip has headquarters in Los Angeles and a development center in Herzliya that employs 15 of its 25 staff. Proceeds from the latest round will be used to enlarge the Israeli development center.
TradAir raises $15 million for forex-trading platform
TradAir, a provider of foreign-exchange trading technology, said Monday it has raised $15 million in a funding round led by Long Ridge Equity Partners of New York. TradAir’s existing investors, the Israeli venture capital funds Carmel Ventures and Genesis Partners, also participated in the round. The new financing will enable the Israeli startup to further develop its technology capabilities, the company said. TradAir’s technology, which can be integrated into existing trading systems, gives traders insights into deal flows and market liquidity, enabling them to make better strategic decisions on pricing and hedging. Long Ridge’s Cliff Lewis, who served as CEO of Currenex, a foreign-exchange trading platform acquired by State Street in 2007, will join TradAir as chairman.
IGP puts $20 million into Panaya
Israel Growth Partners, the technology investment fund founded by former NICE Systems CEO Haim Shani and Microsoft Israel boss Moshe Lichtman, has invested $20 million in Panaya. Launched nine years ago, Panaya’s technology enables big enterprises to upgrade their information systems and reduce downtime and damage from errors. The investment round is only the second for the $200-million IGP fund, after it put $25 million into the diamond-marketing network R2Net. It comes just a year after Panaya raised $16 million in a round led by the U.S.-based Battery Venture, and suggests the company may be using the proceeds to finance a major acquisition.