Swedish telecom operator TeliaSonera has confirmed a $115 million investment in music streaming service Spotify, securing a 1.4% stake in the company. The deal values Spotify at $8.2 billion. The investment is part of a larger $500 million funding round Spotify has raised, according to TechCrunch. Spotify has been put under pressure this week with the launch of Apple Music, a new music streaming service.
High Alpha, a venture studio focused on launching enterprise cloud companies, has raised $35 million. The company is backed by Emergence Capital, Greenspring Associates, Hyde Park Venture Partners and angel investors. “At Emergence Capital, we have been focused on enterprise cloud software since our first investment in Salesforce.com back in 2003, and we have seen incredible growth in this sector over the last decade,” said Gordon Ritter, Co-founder and General Partner at Emergence Capital. “There has never been a more exciting time to create new applications for business users, and we are thrilled to work with the High Alpha team to identify and build solutions that will change how people work.”
Online media company Brit + Co has confirmed a $20 million Series B funding round led by Intel Capital. DMGt, Liberty Media, Oak Capital and select angel investors also participated. The company also announced its acquisition of Snapguide, an iOS app which allows users to create and share “how-to” guides. “Brit Morin has earned a position as one of the most forward-thinking entrepreneurs of her generation,” said Lisa Lambert, managing director and vice president of Intel Capital, and Brit + Co’s newest venture partner and board member. “With its powerful combination of media and e-commerce, Brit + Co is bringing more women and girls into the fast-growing maker movement, which fits perfectly into the goals of our new Diversity Fund.”
Behavioral change program provider AbilTo has raised a $12 million Series C round of funding. The company focuses its services on improving medical health and lowering the cost of healthcare. HLM Venture Partners led the round, with participation from previous backers BlueCross BlueShield Venture Partners, .406 Ventures and Sandbox Industries. “We were fortunate to have several high-quality venture capital firms interested in our Series C, but HLM’s 30-year track record of healthcare investments and their reputation for leadership were simply unbeatable,” said Michael Laskoff, CEO of AbilTo. “Yumin’s energy, knowledge and commitment will be an excellent addition to an already outstanding board.”