Cloud9 Analytics, a provider of SaaS business analytics for line-of-business managers, today announced it has closed its Series C financing for $8 million. The financing round was led by Mayfield Fund, with participation from existing investors InterWest Partners and Leapfrog Ventures. This brings its total in funding to $21.6 million.
The third quarter saw the number of U.S. venture funds raising new cash decline by 29 percent to 55 funds, according to data from the National Venture Capital Association and Thomson Reuters. That compares to 78 new funds a year ago and 76 new funds in the second quarter of 2008. And 45 of that 55 were follow-on funds rather than new funds.
Each of those funds, though, raised a lot more money… → Read More