Engine Yard secures $3.5 million from Benchmark Capital

Sacramento born Engine Yard has raised $3.5 million in venture funding from Benchmark Capital. The company, now located in San Francisco, still has data centers and several employees in Sacramento.

Engine Yard didn't start out looking for funding. They are already profitable and didn't see their Rails hosting and support business as lucrative enough to get the large payouts venture companies often require.

American River Ventures co-founder scaling back

One of the co-founders of local VC firm American River Ventures is stepping back. ARV is currently raising another fund, but The Sac Bee's Bob Shallit says that Corely Phillips has other plans.

Raising a new fund takes a long term commitment, often taking a decade or more to raise the money, make the investments, and wait for those companies to grow their businesses to a successful return for the investors. Phillips says he doesn't want to commit that much time and plans to spend more time with family and friends.

Mutant Logic closes

Local chip company Mutant Logic has closed after finding that the technology didn't work as expected. The company had raised $500,000 in angel investments and employed eight people. Upon shutting down, the firm returned about half of the investment to the investors.

November Dinner at Jack's Urban Eats

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SacStarts dinners are informal get-togethers where the best and brightest technologists and entrepreneurs connect. Grab a seat and some food and meet other locals involved in Sacramento’s technology community.

Cost: Just pay for your own dinner and drinks.

Inc. Business Builders panel

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Inc. Magazine is presenting a panel on how to build a successful small business. The panel will be moderated by Inc. editor Donna Fenn, author of Alpha Dogs: How Your Small Business Can Become a Leader of the Pack and includes local panelists Yatish Mishra, co-founder of RagingWire and Whitney Roberts, founder of Bar exam test prep service The Bar Code.

The discussion is being held at IKEA in West Sacramento (who knew they had public meeting rooms?) next Tuesday night.

Social boards

Matt Blumberg has some thoughts on communicating with your board.

And as with any team, making sure that the people on a Board know how to connect with each other as individuals as critical to building good relationships and having good communication, both inside and outside of Board meetings.

He suggests organizing some social activities with your board.

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