Deals Inked for Basho, Innocentive

Boston’s big data cluster recently got some attention at the MassTLC Innovation UnConference, and Basho Technologies, one of the companies in the space, followed up this week with a funding announcement. Check out that news and another IT financing below.

—Basho, a Cambridge, MA-based developer of data storage and management software, announced it had pulled in $5 million in new funding from existing equity investors. The money will go toward accelerate engineering and market development’s of Basho’s database product. In June, the company announced it had closed a $7.5 million financing and had hired new CEO Don Rippert. Check out this profile for a closer look at the types of markets and customers Basho is targeting.

—Innocentive, a Waltham, MA-based company started by Eli Lilly in 2001, has bumped a recent round of equity financing up to $5.1 million out of a potential $7.5 million. The money comes from 84 investors, an SEC filing shows. Innocentive, now an independent company, offers technology enabling organizations and its employees to collaborate on problem solving in processes like product research and development.

Author: Erin Kutz

Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.