Some of San Diego’s tech companies have been raising modest amounts of capital, mostly from individual investors. Here’s a quick rundown.
—San Diego-based PCN, which was known as PCN Technology when I profiled the company a couple years ago, said it has raised $5.25 million from Pennsylvania-based EnerTech Capital and a variety of individual investors. I noticed the venture also named a new CEO about a year ago. Venkat Shastri was previously a vice president of engineering at Carlsbad, CA-based Palomar Technologies.
PCN specializes in technology that enables a business with existing (some might even say “old-fashioned”) twisted-pair wiring infrastructure known as Supervisory Control and Data Acquisition (SCADA) networks to create a TCP/IP network with Internet connectivity. PCN’s technology can be used with a wide variety of conductive wire, including energized AC power lines.
The company says existing investors and board members led the recent financing. That includes Irwin Pfister, PCN’s executive chairman, and directors Jerre Stead and Joe Kasputys. Conshohoken, PA-based EnerTech, which led an $8 million round for the company in 2008, also participated in the latest round. PCN says the capital will be used to expand human resources for customer project management, product marketing, strategic account management, and technical applications support.
—San Diego’s Deal Current Network said it has raised venture capital funding from Canal Partners of Scottsdale, AZ, and members of Southern California’s Tech Coast Angels. The size of the round was not disclosed, and Canal did not respond to an email query. In announcing the funding, Deal Current said Todd Belfer, a managing partner at Canal Partners, and Jon Belmonte, the former COO of the Active Network (NYSE: [[ticker:ACTV]]), and current principal of San Diego-based Cedar Ridge Ventures, are joining Deal Current’s board of directors.
In a recent post on the company’s blog, Deal Current says the fresh capital will help the
