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Funds Net Element Announces Additional $10 Million Financing Name
Net Element Target
Reduce the total outstanding debt of the Company
Investors RBL Capital
FUND Net Element, a technology-driven group specializing in mobile payments and value-added transactional services in emerging countries and in the United States, has announced the closing of a $10 Million credit facility.
INVESTORS This closing represents the second funding in the $30 million financing round. The $10 million credit facility extended to the Company by RBL Capital, triggered the conversion provisions of the first round convertible debt financing provided by Cayman Invest, converting its debenture to common shares of the company.
TARGET The effect of the new $10 million credit facility and the Cayman Invest debt conversion is to significantly reduce the total outstanding debt of the Company. The Company will utilize $3 Million of the $10 millioncredit facility to pay in full its loan obligations to MBF Merchant Capital, LLC, a loan that was recently restructured at a discount to the Company.
THE COMPANY Net Element is a global technology-driven group specializing in mobile payments and value-added transactional services. The Company owns and operates a global mobile payments and transaction processing provider, TOT Group.
CTERA Networks Closes $25 Million Series C Round
FUND CTERA Networks has announced a $25 million Series C financing.
INVESTORS The financing round was led by Bessemer Venture Partners who join existing CTERA investors Benchmark Capital, Cisco, and Venrock. CTERA’s existing investors also participated in the Series C round.
TARGET Using the funds to accelerate adoption of its Cloud Storage Services Platform, CTERA will build out its global go-to-
market organization, and build upon CTERA’s existing success in the world’s largest and most demanding cloud environments.
THE COMPANY CTERA provides the industry’s first cloud storage services platform. Deployed by Global 1000 enterprises and leading cloud service providers, CTERA transforms private or public cloud infrastructure into scalable, secure, business-critical data services, addressing the storage, data protection, and collaboration needs of business users. CTERA was founded by IT security experts in 2008, and is backed by Benchmark Capital, Bessemer Venture Partners, Cisco, and Venrock.
Name
CTERA Networks Target
Accelerate adoption of its Cloud Storage Services Platform
Investors Bessemer Venture Partners, Benchmark Capital, Cisco, and Venrock
Streetline Closes $10M Financing Name
Streetline, Inc. Target
Expand the solutions for both parking providers, as well as merchants and consumers
FUND Streetline, Inc. has announced that it has closed $10 million in financing to further extend its lead in the rapidly growing smart parking market.
TARGET “We’re seeing a marked shift where customers are demanding integrated smart parking solutions that bring together all of the various pieces of the puzzle – from sensing to inference to analytics to applications for specific stakeholders,” said Zia Yusuf, president and CEO of Streetline. “With this latest funding infusion, our aim is to further strengthen our integrated platform, and expand the solutions for both parking providers, as well as merchants and consumers. The objective is to provide a turn-key, cost-effective offering that
doesn’t require the heavy capital investment and custom integration some vendors are requiring of customers today.”
THE COMPANY Streetline is a leading smart parking company delivering smart data and advanced analytics to solve parking issues for customers worldwide. Streetline’s pioneering technology makes the parking experience for consumers easier, while making cities and university campuses more efficient. Through sound level and road surface temperature sensing capabilities, Streetline helps cities and universities to further enhance their ‘smart city’ or ‘smart campus’ initiatives. Our vision is simple—to solve parking and make smart cities a reality.