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Capital Gains: Ello Gets $5.5 Million, Mitel's $540 Million Offer for ShoreTel and More

The ad-free social network Ello raised $5.5 from venture capitalists, and more.

Vjeran Pavic

Here’s a roundup of the big funding headlines from this week, brought to you by Re/code:

  • The Canadian telecommunications company Mitel made public its $540 million offer to acquire its smaller, U.S.-based competitor ShoreTel. Late last year, Mitel paid $374 million for the Canadian company Aastra Technologies in order to expand Mitel’s European presence.
  • In a bit of slightly different funding news, Microsoft co-founder Paul Allen announced he would be putting $100 million toward fighting the Ebola outbreak in Africa.
  • Tipalti, a cloud-based enterprise technology company, announced a $13 million Series B round led by Wicklow Capital (PYMNTS). Tipalti’s product is a global payments service primarily for small businesses.
  • The subscription billing and payments company Recurly closed a $12 million Series B round of funding (VentureBeat). The round was led by Devonshire Investors, with participation from Greycroft Partners, Polaris Partners, and others.
  • Glamsquad, which is kind of an “Uber for beauty products,” raised $7 million in funding (TechCrunch). The company, now led by Gilt Groupe co-founder Alexandra Wilkis Wilson, netted the money in a Series A round led by SoftBank Capital.
  • The new social network Tsu, which pays its users to post, raised $7 million in a funding round led by Sancus Capital Prive.
  • The ad-free social network Ello, which caught fire briefly last month when it got so many signups from new users it had to freeze the signup process, raised $5.5 million funding. The round was led by the Boulder, Colorado-based Foundry Group, Bullet Time Ventures and other investors.
  • Okay, another Uber knockoff. This time it’s the “Uber for valet parking” service Luxe, which raised $5.5 million in seed funding from 11 different venture capitalists.
  • NuCurrent, a company that specializes in wireless technology, raised $3.48 million in a Series A funding round (PRWeb). Investors include Independence Equity, Hyde Park Angels, Harvard Business School Angels and others.
  • Shuddle, which really is “Uber for small children,” has employees with childcare experience shuttling kids around for a per-month fee and a per-ride cost. The company raised $2.6 million from Accel Partners, Forerunner Ventures and Comcast Ventures.

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