U.S. coins and bills

It’s a busy day for funding news in Silicon Valley, so let’s hop right to it, shall we?

• Practice Fusion, a San Francisco company that gives doctors and patients more control over medical records, announced a $70 million Series D financing led by Kleiner Perkins Caufield & Byers. My old boss used to discourage the use of the word “whopping,” so I’ll just call it a humdinger. Kleiner partner Beth Seidenberg, the former chief medical officer at Amgen, joins the startup’s board.

• I first wrote about PracticeFusion two years ago, and ironically, another valley health startup I mentioned in the same story also announced funding Tuesday. Palo Alto-based Simplee bagged a $10 million Series B funding from Heritage Group, The Social+Capital Partnership and Israel-focused Greylock IL. (Simplee founder Tomer Shoval hails from Tel Aviv.)

• Moxtra, a mobile collaboration company in Cupertino, announced its first round of funding: $10 million from Cisco, Japanese telecom heavyweight KDDI, China’s Innovation Works and the personal investment arm of real estate and hotel mogul Barry Sternlicht. Moxtra CEO Subrah Iyar is the co-founder and former CEO of WebEx, which Cisco bought for $3.2 billion; consider this going back for seconds.

• San Francisco-based Frankly, which makes an app that deletes text messages and photos right after you send them (hmm, where have we heard that idea?) officially launched with $6 million from South Korea’s SK Planet.

• And finalleigh, there’s Shyp, another San Francisco startup that — wait for it — helps you ship things. It came out of stealth and announced a $2.1 million seed round from author/angel Tim Ferriss (“The 4-Hour Workweek”), PayPal chief David Marcus and Homebrew VC, launched earlier this year by ex-Googlers Hunter Walk and Satya Patel.

Think of Shyp as “UPS meets TaskRabbit” — if you’ve got something you want to ship off, use the startup’s iPhone app to take a picture of it. A Shyp driver (called, ahem, a “hero”) will show up and take the item away to be packaged and shipped via FedEx or another carrier — all for a price the company claims won’t exceed Post Office shipping costs.

What’s perhaps as interesting as the business model is that CEO Kevin Gibbon says he raised the final $250,000 of the round in under an hour after a Monday blog post by Ferriss. That’s thanks to a brand-new change in securities law that makes it legal for companies to troll publicly for investors.

Gibbon said Shyp was the first company to take advantage of the solicitation ban’s demise, but it won’t be the last: AngelList on Monday kicked off a redesign of its matchmaking service for startups and investors to bring a lot more of the latter into the pool.

 

 

Peter Delevett Peter Delevett (184 Posts)

Peter Delevett covers startups and venture capital for the San Jose Mercury News. He's been a journalist in Silicon Valley since the dot-com daze.