The Sacramento Angels, together with the Sierra Angels, led a multi-million dollar financing for San Francisco web annotation startup company, Reframe It. They were joined by other regional angel groups and individual angels. You can read the web press release here, and see another report of the financing gathered, in part, from the filing with the SEC of Form D here.
There are a couple of interesting points for entrepreneurs about this financing. First, you can see that to raise this kind of money from Angels, it takes a lead (the lead negotiates the deal terms, does the due diligence, and then actively seeks additional investors to fill the round; it takes time!). Second, Form D is a way for entrepreneurs to get some idea of the financing that, say, a competitor has previously obtained. It does not reveal much detail but it certainly gives some idea of how much has been raised.
This deal is a great example of how Angel groups are collaborating and syndicating deals to increase the amount of money a company can raise