More money is flowing into AI research at MIT, thanks to an expansion of the Institute’s partnership with computing giant IBM; DataRobot announces its $200 million-plus funding round; a tech startup aims to democratize access to quantum computers: these items and more in the week’s Boston tech news roundup. —Concierge medicine service Firefly Health has … Continue reading “Boston Tech Watch: DataRobot, IBM-MIT, Firefly, Aliro, Embr & More”
Author: Brian Dowling
Brian is a former Xconomy editor. Before joining Xconomy, he reported on Massachusetts government and politics for the Boston Herald and previously wrote as a general assignment reporter covering everything from crime and courts to electoral politics, business, and international politics. Brian earned a master’s degree in newspaper writing from the Columbia University Graduate School of Journalism and started his career at the Hartford Courant writing about manufacturing and energy. He holds a bachelor’s degree in Philosophy and Theology from Aquinas College in Grand Rapids, Michigan.
New Deals May Double $240M Funding For MIT-IBM AI Lab, Director Says
When MIT and IBM launched a joint research lab in 2017, the New York-headquartered company pledged $240 million over a decade to chip away at the fundamental obstacles keeping artificial intelligence from transforming industries like healthcare and cybersecurity. Now, the Cambridge, MA-based MIT-IBM Watson AI Lab is growing in personnel, funding, partners, and square feet, … Continue reading “New Deals May Double $240M Funding For MIT-IBM AI Lab, Director Says”
Aliro Technologies Lands $2.7M to Help Developers Go Quantum
It’s still a ways off before visions of all-powerful encryption-breaking quantum computers come to pass. But the new quantum technologies here today are already beginning to make a dent in the world of high-performance computing. Imperfect as these computers may be—now classified as noisy intermediate-scale quantum—they are becoming more attractive for enterprises that seem always … Continue reading “Aliro Technologies Lands $2.7M to Help Developers Go Quantum”
Boston Tech Watch: Neural Galaxy, Link Ventures, & More Epstein Fallout
The funding deals ramped up this week in Boston, and the drip, drip, drip of details about the MIT Media Lab and Jeffrey Epstein continued to form an unwelcome puddle for university administrators. Read on for all the details. —Joi Ito, the director of MIT Media Lab embattled by his fundraising connections with convicted sex … Continue reading “Boston Tech Watch: Neural Galaxy, Link Ventures, & More Epstein Fallout”
Shopify Buys 6 River Systems for $450M to Boost Fulfillment Centers
Ecommerce software company Shopify will purchase warehouse robotics startup 6 River Systems in a $450 million deal aimed at improving logistics in its new system of fulfillment centers. Based in Waltham, MA, 6 River Systems makes robotic carts for order fulfillment centers that learn the warehouse layout and product locations in order to help workers more efficiently … Continue reading “Shopify Buys 6 River Systems for $450M to Boost Fulfillment Centers”
Epstein Fallout: Joi Ito Resigns From MIT Media Lab, Multiple Boards
The ripple effects from a report Friday in The New Yorker about ties between the MIT Media Lab and disgraced financier and convicted sex offender Jeffrey Epstein continue to spread. After Joi Ito resigned as the Media Lab’s director on Saturday, he also relinquished high-profile board seats with The New York Times Company, the Knight … Continue reading “Epstein Fallout: Joi Ito Resigns From MIT Media Lab, Multiple Boards”
Boston Tech Watch: MIT Epstein, Notarize Cash, New Carbonite Execs
For a week shortened by the Labor Day holiday heralding the coming end of summer, the past few days yielded their fair share of Boston-area technology business news. Read on for a roundup of the news. —MIT Media Lab co-founder Nicholas Negroponte reportedly argued it was right to take money from disgraced financier and convicted … Continue reading “Boston Tech Watch: MIT Epstein, Notarize Cash, New Carbonite Execs”
Cogito Raises $20M to Expand Call Center Emotional Intelligence
Cogito CEO Joshua Feast isn’t convinced that artificial intelligence will topple the staffing model for call centers. Customer service is not destined—at least anytime soon, he believes—to be handed off completely to voice assistant chatbots that can handle all the problems and frustrations a customer can send through a phone line. “I believe humans will … Continue reading “Cogito Raises $20M to Expand Call Center Emotional Intelligence”
Boston Tech Watch: DraftKings Drives, The Engine Revs, NuTonomy Swaps
[Updated 12:35 pm, 8/30/19. Clarified new DraftKings venture.] Welcome to August’s automotive-themed tech news round-up. This week’s batch of news features a dose of updates that range from self-driving cars to funds or new ventures that sound close enough to being automotive-related (but aren’t) that I just couldn’t pass up making a point about it. … Continue reading “Boston Tech Watch: DraftKings Drives, The Engine Revs, NuTonomy Swaps”
NuTonomy Switches to Chrysler For More Elbow Room in Self-Driving Cars
There’s a time in a self-driving car company’s life where a minivan is just more sensible than a sleek, European city car. NuTonomy, the autonomous vehicle startup spun out of MIT that’s putting its systems through their paces on the streets of South Boston, says it has “decommissioned” its fleet of five-door, “supermini” electric cars … Continue reading “NuTonomy Switches to Chrysler For More Elbow Room in Self-Driving Cars”
VMware: “We Bought Carbon Black for $2.1B!” Analysts: “Oh… Why?”
The deal VMware unveiled this week to buy cybersecurity firm Carbon Black triggered a heaping share of skepticism. “I’m having a hard time with the Carbon Black acquisition,” said Jeffries analyst John Stephen DiFucci on a conference call with VMware executives. “I get that Carbon Black is part of that next-gen player. … But I … Continue reading “VMware: “We Bought Carbon Black for $2.1B!” Analysts: “Oh… Why?””
Boston Tech Watch: Epstein, MIT Media Lab, Carbon Black, JRNI & More
A slower news week for Boston technology news, but not without its fireworks. Among them: Researchers are not taking the news well that MIT Media Lab director Joi Ito had extensive financial arrangements with Jeffrey Epstein, the convict and alleged child sex trafficker who committed suicide earlier this month awaiting trial. Read on for more. … Continue reading “Boston Tech Watch: Epstein, MIT Media Lab, Carbon Black, JRNI & More”
VMware Dropping $4.8B to Buy Carbon Black, Pivotal Software
VMware is shelling out big bucks for two companies to fill out its technology stack: developer platform Pivotal Software for $2.7 billion and cybersecurity firm Carbon Black for $2.1 billion. “These acquisitions address two critical technology priorities of all businesses today—building modern, enterprise-grade applications and protecting enterprise workloads and clients,” VMware CEO Pat Gelsinger said … Continue reading “VMware Dropping $4.8B to Buy Carbon Black, Pivotal Software”
Boston Tech Watch: Jobble, Soofa, Dynatrace, Markforged & DataRobot
The Boston tech scene lands its first IPO of 2019. DataRobot rakes in about $200 million more. Pushback on facial recognition spreads from Somerville, MA, to neighboring Cambridge. Markforged and Desktop Metal head back to court. Read on for more of this week’s Boston tech news. —Burlington, MA-based software company Everbridge (NASDAQ: [[ticker:EVBG]]) is acquiring … Continue reading “Boston Tech Watch: Jobble, Soofa, Dynatrace, Markforged & DataRobot”
Dynatrace Shares Jump, Marking First Boston-Area Tech IPO of 2019
Shares of Waltham, MA-based software intelligence firm Dynatrace hit the public markets for the first time today, and it was a strong debut. Bankers elevated the initial stock pricing above earlier estimates, and then traders pushed the value higher, to $25 a share at midday. The first IPO this year of a tech company headquartered … Continue reading “Dynatrace Shares Jump, Marking First Boston-Area Tech IPO of 2019”
Markforged Sues Desktop Metal Over “Dirty Tricks” in 3D Printing War
Markforged is reviving its courtroom battle with 3D printing rival Desktop Metal with a lawsuit that alleges “a campaign of dirty tricks” by the competitor that violates a 2018 deal the two agreed to when they last were bringing each other to court. Markforged, based in Watertown, MA, says in the lawsuit filed Tuesday in … Continue reading “Markforged Sues Desktop Metal Over “Dirty Tricks” in 3D Printing War”
DataRobot, Now a Unicorn, Raises Close To $200M for Machine Learning: Sources
[Update: On Sept. 17, DataRobot announced it had raised $206 million in a Series E round led by Sapphire Ventures. It brings the Boston company’s total amount raised to $431 million.] DataRobot has raised a Series E funding round in the ballpark of $200 million to advance its automated machine learning and artificial intelligence software, … Continue reading “DataRobot, Now a Unicorn, Raises Close To $200M for Machine Learning: Sources”
Leaving Carbonite, Mohamad Ali Joins IDG to Make It a Tech Company
Mohamad Ali’s departure from Carbonite’s corner office didn’t follow the usual tech executive roadmap to which even his earlier career had hewn. Ali’s career ran through posts building technology tools at IBM and Hewlett-Packard prior to joining Carbonite in 2014, so the move to head up International Data Group, a technology media, events, and research … Continue reading “Leaving Carbonite, Mohamad Ali Joins IDG to Make It a Tech Company”
Boston Tech Watch: Carbonite, iRobot, Circle, Toast, & Flare Capital
CEO hopping in Boston, trade-war fallout, acquisitions, IPOs, and autonomous ships. This week in Boston tech news had it all. Read on for all the details. —Mohamad Ali is stepping down as CEO of data protection and backup company Carbonite after having led the growing public company since 2014. He is hopping industries a bit … Continue reading “Boston Tech Watch: Carbonite, iRobot, Circle, Toast, & Flare Capital”
“You Get What You Celebrate”: Net@50 Gives the Internet Its Due
Talk at the Xconomy and the World Frontiers Forum’s Net@50 event started with a simple phrase about taco toppings and ended with discussion of a brain-computer interface that could perhaps enable a collective intelligence. Net@50 last week explored the internet’s past, present, and future with thoughts from a rare group of engineers who imagined and … Continue reading ““You Get What You Celebrate”: Net@50 Gives the Internet Its Due”
Carbonite CEO Mohamad Ali Leaves for International Data Group
[Updated 7/25/19, 9:05 pm. Added comments from Carbonite executives.] Carbonite’s Mohamad Ali is stepping down as CEO and board member of the Boston-based data protection company to lead International Data Group, a technology media, events, and research company. For now, the helm at Carbonite (NASDAQ: [[ticker:CARB]]) will be taken up by board chairman Steve Munford, … Continue reading “Carbonite CEO Mohamad Ali Leaves for International Data Group”
Healthtech Investor Flare Capital Raises $255M for Second Fund
Flare Capital Partners, a Boston-based venture capital firm investing in healthcare technology, has raised $255 million for its second fund. Co-founder and general partner Michael Greeley says his focus had been to keep the new fund in the mid-sized range, large enough to make follow-on investments into companies’ later rounds, but not too large. “As … Continue reading “Healthtech Investor Flare Capital Raises $255M for Second Fund”
Software Intelligence Firm Dynatrace Aims to Raise $427M in IPO
[Updated 7/22/19, 1:15 pm: Added IPO timing and updated headline.] Enterprise software business Dynatrace plans to take in $427.2 million from its initial public offering, the Waltham, MA-based company says in a new filing that sets the terms for its intended public market debut. The company says it will sell 35.6 million shares at a potential … Continue reading “Software Intelligence Firm Dynatrace Aims to Raise $427M in IPO”
Boston Tech Watch: Medumo, Zilla, Armored Things, Fortify & More
The week in Boston tech news hit on all the highlights: health technology, 3D printing, crypto, blockchain, CEO moves, fintech, and plenty of venture cash. Read on for the details: —Healthcare technology startup Medumo has been acquired by Netherlands-based Philips (NYSE: [[ticker:PHG]]). The company’s patient navigation technology provides instructions and patient resources through text message … Continue reading “Boston Tech Watch: Medumo, Zilla, Armored Things, Fortify & More”
Aura Wants to Take Its $150M and Stock a Consumer Cybersecurity Toolbox
Two recently combined consumer cybersecurity companies are heading off under a new branding to make a run at providing some online peace of mind for regular folks, and they’re doing it with $150 million in capital from Boston-area venture firm General Catalyst and WndrCo, the West Coast technology investor run by former Disney chairman Jeffrey … Continue reading “Aura Wants to Take Its $150M and Stock a Consumer Cybersecurity Toolbox”
Lendbuzz, AI Auto Startup That Steps in When FICO Fails, Raises $150M
No traditional credit history? No problem. At least that’s how Lendbuzz, a startup that uses artificial intelligence to underwrite auto loans, sees it. The Boston-based software company announced Monday it has raised $150 million in new funding to expand its team and issue more financing backed by its machine learning algorithms. Most of the cash—$130 … Continue reading “Lendbuzz, AI Auto Startup That Steps in When FICO Fails, Raises $150M”
Boston Tech Watch: Cisco, Acacia, Great Hill Partners & GNS Healthcare
Billions with a “b” is the word of the week in Boston tech news, with Cisco paying a couple billion dollars for a Massachusetts tech firm and PE firm Great Hill Partners closing its latest ten-digit growth fund. Read these stories and more in this week’s roundup: —Nebulous, a Boston company developing a cloud storage … Continue reading “Boston Tech Watch: Cisco, Acacia, Great Hill Partners & GNS Healthcare”
Cisco Invests in Optical Tech With $2.6B Acacia Communications Deal
Cisco is buying Maynard, MA-based Acacia Communications (NASDAQ: [[ticker:ACIA]]) for $2.6 billion in a deal to boost the networking giant’s stock of optical technologies, the companies announced Tuesday. The deal values Acacia at $70 per share, a 46 percent premium to its closing stock price Monday, but still a bargain compared with Acacia’s peak share … Continue reading “Cisco Invests in Optical Tech With $2.6B Acacia Communications Deal”
Black Duck, Veracode Execs Relaunch Cloud Infrastructure Firm Fairwinds
From a host of angles, the business opportunity looked to be a hard one to pass up. The technology business up for sale was: one, self-funded and not saddled by mountains of outside equity; two, profitable and growing; and three, in the middle of the messy but booming world of enterprise software infrastructure. For the … Continue reading “Black Duck, Veracode Execs Relaunch Cloud Infrastructure Firm Fairwinds”
From Buyout to Spinout to IPO? Dynatrace Eyes $300M Public Offering
Dynatrace, a 14-year-old enterprise software intelligence company, has filed papers to raise $300 million from an initial public stock offering aimed at restocking its war chest and shrinking its sizable debt. If it follows through on the IPO plans, the Waltham, MA-based company would list its shares on the New York Stock Exchange under the … Continue reading “From Buyout to Spinout to IPO? Dynatrace Eyes $300M Public Offering”
What ARPANET’s History Can Teach Us About Cybersecurity
[Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50, an event exploring the internet’s past and future.] The internet nearly came with built-in caller ID. The year was 1972: three years after the … Continue reading “What ARPANET’s History Can Teach Us About Cybersecurity”
Boston Tech Watch: Vaxess, Fusion Power, Wayfair & MassChallenge
An acquisition, accelerator awards, access to venture capital, and arguments over e-commerce sales to migrant detention centers. All that and more in this week’s Boston tech news. Read on for the details. —Email security company GreatHorn says it raised $13 million in a funding round co-led by RRE Ventures and .406 Ventures and joined by … Continue reading “Boston Tech Watch: Vaxess, Fusion Power, Wayfair & MassChallenge”
Commonwealth Fusion Plugs in $115M To Develop Nuclear Reactor
Nuclear energy startup Commonwealth Fusion Systems closed a $115 million Series A funding round to beef up work on the demonstration fusion reactor power plant it hopes could one day be a breakthrough in the fight against climate change. The infusion of cash is coming from Future Ventures, Khosla Ventures, Lowercase Capital, Moore Strategic Ventures, … Continue reading “Commonwealth Fusion Plugs in $115M To Develop Nuclear Reactor”
“More to Life Than Profit”: Protest at Wayfair for Sales to Migrant Camp
Wayfair employees in Boston walked off the job Wednesday afternoon to take a stand against furniture sales the company made to two US government detention centers in Texas that are holding child migrants. Hundreds of workers at the home goods e-commerce company flooded out into Copley Square where they were greeted by a cheering crowd … Continue reading ““More to Life Than Profit”: Protest at Wayfair for Sales to Migrant Camp”
Boston Tech Watch: Polaris, GE, DataRobot, Facial Recognition Woes
[Updated 8:50 am, 6/21/19. See below.] Two weeks-worth of Boston tech news coming your way that covers new cash, executive moves, wary public sentiment on facial recognition, a mega-merger, and more. —Venture capital firm Polaris Partners is looking to raise $400 million for its ninth fund, according to an SEC filing. Polaris has placed bets … Continue reading “Boston Tech Watch: Polaris, GE, DataRobot, Facial Recognition Woes”
Veracode CEO Sam King on Surviving Whirlwind of Cybersecurity M&A
Life has been changing at Veracode so rapidly in the past two years that you could easily forgive someone for not remembering who owned the company on any given day. Focused on cybersecurity for application development, Burlington, MA-based Veracode had raised about $150 million and grown to a couple hundred employees by 2017 and at … Continue reading “Veracode CEO Sam King on Surviving Whirlwind of Cybersecurity M&A”
Hi Marley Raises $8M From Investors to Streamline Insurance With AI
Insurance tech startup Hi Marley has landed $8.7 million from True Ventures and Underscore VC to extend its conversational AI tools to help people buy and manage their policies. The Boston company is also working with insurance broker Aon (NYSE: [[ticker:AON]]) to move into more complicated sectors of business insurance through a strategic partnership, according … Continue reading “Hi Marley Raises $8M From Investors to Streamline Insurance With AI”
Trust No One: Edgewise Raises $11M to Segment and Secure Networks
[Updated 12:01 pm, 6/11/18. See below.] The retreat underway in cybersecurity from the ramparts of the outward-facing firewall has spurred a crop of tech startups promising answer for the threat of hackers that in many cases can no longer be denied entrance to networks. This fallback stance has been the adoption of a “zero trust” … Continue reading “Trust No One: Edgewise Raises $11M to Segment and Secure Networks”
Boston Tech Watch: IKEA and Ori, Skyworks and Huawei & Massport and Turo
[Updated 6/7/19, 9:50 am. See below.] Quite a range of topics in this week’s batch of Boston technology news: robot furniture, male fertility, airport car rental spats, as well as the usual deals and acquisitions. Read on for more: —Boston-headquartered robotics startup Ori Living and IKEA are collaborating on a line of furniture for small … Continue reading “Boston Tech Watch: IKEA and Ori, Skyworks and Huawei & Massport and Turo”
Boston Tech Watch: LearnLaunch, Starry, Bodeswell, HqO & Pillo
A wave of funding crashed on Boston startups this week, as well as a major acquisition of a cybersecurity and threat intelligence company. Read on for more of this week’s Boston-area tech news. —Kytopen, a Cambridge, MA-based technology company engineering testing and manufacturing systems for cell therapy, raised $3.6 million in seed funding from MIT’s … Continue reading “Boston Tech Watch: LearnLaunch, Starry, Bodeswell, HqO & Pillo”
Recorded Future Bought for $780M in Latest Boston Cybersecurity Deal
Recorded Future is being acquired by tech investor Insight Partners in a $780 million all-cash deal, the cyber-threat intelligence company announced this morning. Insight Partners, a New York-based venture capital and private equity firm, led a $25 million round of funding that Recorded Future raised in October 2017. At the time, the cash put the … Continue reading “Recorded Future Bought for $780M in Latest Boston Cybersecurity Deal”
Bodeswell Wants Financial Planning to Be a Game With “Real Loot”
There’s no shortage of financial software companies offering to plug into bank and investment accounts, chart out spending and income graphics, and let users construct monthly budgets or savings goals. Familiar names like Intuit’s (NASDAQ: [[ticker:INTU]]) Quicken and Mint have been joined by apps like Personal Capital, You Need A Budget, Wally, Cinch, and other … Continue reading “Bodeswell Wants Financial Planning to Be a Game With “Real Loot””
Boston Tech Watch: Robin, Markforged, Air Force AI & CozyKin
The Air Force and MIT partner on AI research. Meeting room tech raises more dough. “Autopilot” for 3D printers. And robot companies teaming up to fill your next ecommerce order. Read on for more of what went down this week in Boston tech news. —Robin Powered, a Boston startup building workplace desk- and meeting room-booking … Continue reading “Boston Tech Watch: Robin, Markforged, Air Force AI & CozyKin”
Guardicore Raises $60M and Moves US HQ to Boston From San Francisco
US-Israeli cybersecurity startup Guardicore is moving its American headquarters from San Francisco to Boston after hiring a Massachusetts marketing executive and raising a $60 million funding round. The Tel Aviv-based company’s decision to run American operations from Boston is a well-worn path for high-tech firms, with more than 200 Israeli-founded businesses employing more than 9,000 … Continue reading “Guardicore Raises $60M and Moves US HQ to Boston From San Francisco”
Boston Tech Watch: Hydrow, Sea Machines, Toast, Pillar & More
[Updated, 9:05 am. See below] Another $100 million for early stage investing in Boston. Check-out machines are becoming clock-in machines. A hundred-plus startups join MassChallenge’s latest cohort in Boston. Read on for more of this week’s Boston tech news. —Rowing machine startup Hydrow added $7 million to the $20 million it raised in its Series … Continue reading “Boston Tech Watch: Hydrow, Sea Machines, Toast, Pillar & More”
Pillar Fuels Second Go-Round With $100M Fund for Boston Startups
It took a few more years than initially planned, but early-stage venture firm Pillar has raised the $100 million fund it wanted. Launching with fanfare in 2016 under former North Bridge Venture Partners’ Jamie Goldstein, Pillar set its sights on $100 million for its debut fund but ended up raising just $57 million. It has since … Continue reading “Pillar Fuels Second Go-Round With $100M Fund for Boston Startups”
Stock, Profit & AI: Carbon Black CEO Reviews Year Since IPO
It’s been a little over a year since Carbon Black debuted on the Nasdaq stock exchange, raising $152 million selling its shares to the public for the first time. The Waltham, MA-based cybersecurity company’s stock price (NASDAQ: [[ticker:CBLK]]) has bounced around since its initial pricing at $19 a share and closing its first day of … Continue reading “Stock, Profit & AI: Carbon Black CEO Reviews Year Since IPO”
Boston Tech Watch: MIT Solves, AltioStar Raises & Enel Scouts
[Updated 5/9/19, 11:00 am. See below.] The week in Boston tech news saw the launch of a philanthropic venture fund at MIT, some large fundraising rounds, an open source acquisition, and more. —MIT is raising a philanthropic venture fund to support social impact tech startups taking on some of the world’s biggest problems. The donor-advised fund … Continue reading “Boston Tech Watch: MIT Solves, AltioStar Raises & Enel Scouts”
Acquia Buys Open Source Marketing Automation Software Firm Mautic
Open source website software company Acquia is buying marketing automation startup Mautic, the companies said. Terms of the deal were not disclosed. Acquia, based in Boston, develops open source tools to manage websites built using the open source content management system Drupal. Mautic, a few miles away in Medford, is an open source (See a … Continue reading “Acquia Buys Open Source Marketing Automation Software Firm Mautic”
Boston Tech Watch: Wayfair Tumbles, Charles River Leaks & Chewy Begs
First quarter losses jolt Wayfair shareholders. Liberty Mutual teams up with MIT’s new AI research college. Charles River Labs reports its systems were hacked. Read on for more of this week’s Boston tech news. — Losses were expected to continue at home goods e-commerce giant Wayfair (NYSE: [[ticker:W]]), but the sheer size of the red … Continue reading “Boston Tech Watch: Wayfair Tumbles, Charles River Leaks & Chewy Begs”