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Former LA VC Gets Backing For Enterprise Alerting, Micro Apps Startup

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Fouad ElNaggar , a former venture capitalist who had been responsible for the Los Angeles office of Redpoint Ventures, has scored funding for a new startup, Sapho. ElNaggar was in Redpoint's LA offices from 2005 until 2011, and had stints on the boards of Machinima and Hark, among other companies. Sapho is in Silicon Valley.

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True(X) Media Finds $6M

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The online advertising technology provider said the funding came from prior backers Jafco Ventures, Pinnacle Ventures, Norwest Venture Partners and Redpoint Ventures. The company has now raised over $50.85M in funding since 2008.

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Report: WebVisible Shuts Down

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The company has not yet confirmed the shutdown, however, founder and CEO Kristen Mangers had left the firm in January in 2011. WebVisible had raised over $37M in venture capital, from such investors as Adams Street Partners, Redpoint Ventures, and Sutter Hill Ventures. READ MORE>>.

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Rustic Canyon Gets Quick Exit At Mertado

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in a round from Rustic canyon, Redpoint Ventures, Y Combinator, and Blumberg Capital. Rustic Canyon had led the September 2011 investment in Mertado. Financial terms of the acquisition were not disclosed, however, the acquisition comes only four months after Mertado raised $2.3M Mertado develops a social shopping service for Facebook.

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What Mattered in 2010: Greg Martin, Archer Venture Capital

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I left a great firm, Redpoint Ventures (after 11 years), to start a new firm, Archer Venture Capital. These companies have all experienced growth and we're expecting substantial value creation in 2011. I have also been working with a couple entrepreneurs on some exciting new businesses that will be launched in early 2011.

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This Week in VC with Dana Settle of Greycroft Partners

Both Sides of the Table

CEO hinted to WSJ that it may go public in early 2011. Current rount: $8.14mm in Series A from Redpoint (lead), Foundry Group, with previous investors, First Round Capital, Lowercase Capital (Chris Sacca), Ravi Narasimham. Note that these are “gross” revenue numbers. Go Boulder! Total Raised: $9.64mm.