Preqin Round-Up: A look at the Past Week’s Notable Venture Capital-Backed Deals and Exits

by Kevin Smith

  • 31 May 2012
  • PE

There have been several notable deals in the venture capital industry this week, including MobileIron closing its Series E round raising $40mn. The five-year old company has raised $96.3mn since 2007, with the latest round giving MobileIron a post-money valuation of $600mn. The Series E round was led by new investor Institutional Venture Partners, with existing investors, Foundation Capital, Norwest Venture Partners, Sequoia Capital and Storm Ventures also participating.

Elsewhere this week, Badgeville raised a $25mn Series C round at a pre-money valuation of over $100mn. The latest round was led by InterWest Partners and included return backers Norwest Venture Partners, El Dorado Ventures, and Trinity Ventures.

Finally, VC-backed PowerReviews, a provider of solutions for consumer product reviews for brands and retailers, was sold to VC-backed Bazaarvoice for $151.9mn. PowerReviews had raised $38.1mn in venture funding since 2005 from investors including Menlo Ventures, Draper Richards, Lehman Brothers, Tenaya Capital, Four Rivers Group, and Woodside Fund. The exit earned Menlo Ventures a 3x times money multiple on its initial investment in the company.

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