Top 10 Second-Quarter Venture Deals in Massachusetts

The second-quarter wasn’t good for Boston area venture investing, at least in overall dollar terms. The area didn’t do so well in big individual deals, either. Whereas in Q1, two area firms ranked among the nation’s 10 largest venture deals—Targanta Therapeutics (tied for fourth with $70 million in funding) and Internet video company Brightcove (10th, with $59.5 million), none made the list in the second quarter.

Here are the Massachusetts Top 10 for Q2 (thanks to Dow Jones VentureOne for the data):

—Andover-based TransMedics raised $25.5 million in a fourth-round deal led by Tudor Ventures. The company makes technology for keeping donated organs for transplantation warm and functioning outside of the body.

—VeriVue’s first round brought in $25 million from Matrix Partners and Spark Capital. The Westford-based communications startup is awfully stealthy, but a recent Spark press release refers to it as an infrastructure company.

—Tying with VeriVue is Taunton-based MooBella. The ice-cream vending-machine company raised $25 million from Inventages Venture Capital in a fourth round of financing.

—Triathlon Medical Ventures led a fifth round that raised $22 million for Woburn biotech BioVex, which is pursuing virus-based cancer treatments and vaccines against herpes and other infectious diseases.

—Boxborough network-security firm Crossbeam Systems garnered $21 million in a sixth round led by Tudor Ventures.

—Canaan Partners and Hambrecht & Quist Capital Management were among those who contributed $20 million in fourth-round funding for OmniSonics Medical Technologies, of Wilmington. This medical device firm focuses on treatment of vascular occlusive disease.

— In a dead heat with OmniSonics was Natick-based bottled water products maker ClearSource. It captured $20 million in a later-stage round led by Boston Community Venture Fund.

— Right behind OmniSonics was Living MicroSystems, a Watertown maker of non-invasive prenatal screening tests. The company received first-round funding of $19.69 million. Investors included Alloy Ventures, Individual Investors, and Mohr Davidow Ventures.

Skyhook Wireless of Boston, which enables precise wireless position tracking for location-based services, garnered $16.8 million in a third round led by RRE Ventures.

—Boston’s Solace Pharmaceuticals received first-found funding of $15 million led by InterWest Partners and Polaris Venture Partners. The company focuses on therapeutic strategies for addressing chronic pain.

Author: Robert Buderi

Bob is Xconomy's founder and chairman. He is one of the country's foremost journalists covering business and technology. As a noted author and magazine editor, he is a sought-after commentator on innovation and global competitiveness. Before taking his most recent position as a research fellow in MIT's Center for International Studies, Bob served as Editor in Chief of MIT's Technology Review, then a 10-times-a-year publication with a circulation of 315,000. Bob led the magazine to numerous editorial and design awards and oversaw its expansion into three foreign editions, electronic newsletters, and highly successful conferences. As BusinessWeek's technology editor, he shared in the 1992 National Magazine Award for The Quality Imperative. Bob is the author of four books about technology and innovation. Naval Innovation for the 21st Century (2013) is a post-Cold War account of the Office of Naval Research. Guanxi (2006) focuses on Microsoft's Beijing research lab as a metaphor for global competitiveness. Engines of Tomorrow (2000) describes the evolution of corporate research. The Invention That Changed the World (1996) covered a secret lab at MIT during WWII. Bob served on the Council on Competitiveness-sponsored National Innovation Initiative and is an advisor to the Draper Prize Nominating Committee. He has been a regular guest of CNBC's Strategy Session and has spoken about innovation at many venues, including the Business Council, Amazon, eBay, Google, IBM, and Microsoft.