Five years ago, the big tech incubator Y Combinator started to welcome life sciences companies into its sizable startup classes, which had previously nurtured entrepreneurs in information technology almost exclusively. That opening to biotech startups in 2014 was controversial at the time. Some observers simply wondered what kind of guidance a deeply tech-focused accelerator could … Continue reading “Five Years After Y Combinator First Admits Biotechs, They’re Dug In”
Author: Bernadette Tansey
Bernadette Tansey is a former editor of Xconomy San Francisco. She has covered information technology, biotechnology, business, law, environment, and government as a Bay area journalist. She has written about edtech, mobile apps, social media startups, and life sciences companies for Xconomy, and tracked the adoption of Web tools by small businesses for CNBC. She was a biotechnology reporter for the business section of the San Francisco Chronicle, where she also wrote about software developers and early commercial companies in nanotechnology and synthetic biology.
Nuance Spinout Cerence Vies With Tech Giants in Voice-AI for Auto
A new mobility company, Cerence, is making its public-market debut Wednesday, and its first CEO, Sanjay Dhawan, says he’s been meeting with more than 50 investors in recent weeks to talk up its prospects. Cerence is a spinout from pioneering speech recognition company Nuance Communications (NASDAQ: [[ticker:NUAN]]), and it will carry on the work of … Continue reading “Nuance Spinout Cerence Vies With Tech Giants in Voice-AI for Auto”
Meissa Scores $30M to Test Vaccine for Dangerous Respiratory Virus
No vaccine is yet available for respiratory syncytial virus (RSV), which causes lung infections that, while usually mild, can be deadly for very young children. Biotech startup Meissa Vaccines, which aims to fill that treatment gap, announced today it raised $30 million to fund early-stage clinical trials for its experimental RSV vaccine. Morningside Ventures, a … Continue reading “Meissa Scores $30M to Test Vaccine for Dangerous Respiratory Virus”
TigerGraph Raises $32M to Extend Graph Database Use to Businesses
TigerGraph, one of the companies advancing the use of graph databases for faster analysis of the connections among people and things, announced today it raised $32 million in Series B funding round led by private equity investor SIG. The new capital brings TigerGraph’s fundraising total to $65 million. Redwood City, CA-based TigerGraph says it’s now … Continue reading “TigerGraph Raises $32M to Extend Graph Database Use to Businesses”
Katerra To Make Ultra-Strong Wood Panels at New Factory in WA
[Updated 9/23/19, 6:29 pm. See below.] Construction tech firm Katerra, a 4-year-old Bay area startup with a big fundraising total, a big backer, and big ambitions, officially opened a big factory today in eastern Washington state. Katerra’s activities in the construction field range from project management software and design to the manufacture of pre-fabricated structural … Continue reading “Katerra To Make Ultra-Strong Wood Panels at New Factory in WA”
Why Menlo Ventures Backed Construction Tech Firm Fieldwire
[Corrected 9/17/2019, 8:58 a.m, and 9/18/19, 4:53 p.m. See below.] Fieldwire, whose mobile app helps builders and construction crews coordinate their work, announced today it has lined up a total of $33.5 million across two newly disclosed fundraising rounds. The San Francisco-based construction tech company says it raised $8.5 million in a Series B funding … Continue reading “Why Menlo Ventures Backed Construction Tech Firm Fieldwire”
ThoughtSpot Nabs $248M for Accessible Analytics, Nears $2B Valuation
ThoughtSpot, a software company formed to make data analytics accessible for business staffers without data science expertise, announced today it raised $248 million in a Series E funding round that set its valuation at $1.95 billion. Sunnyvale, CA-based ThoughtSpot, founded in 2012, made it a core mission to enable its customers’ non-technical workers to mine … Continue reading “ThoughtSpot Nabs $248M for Accessible Analytics, Nears $2B Valuation”
Splunk To Pay $1B For SaaS App Monitoring Firm SignalFx
Splunk, an IT operations management and information security company, announced today it has clinched a deal to buy cloud software application monitoring company SignalFx for $1.05 billion. San Francisco-based Splunk (NASDAQ: [[ticker:SPLK]]) says the acquisition will enable it to give businesses a real-time, panoramic view of the performance of their cloud-based applications, whether their data … Continue reading “Splunk To Pay $1B For SaaS App Monitoring Firm SignalFx”
Ford’s Autonomic Connects EV Maker Ayro to Its Mobility Cloud
Ford subsidiary Autonomic today announced a step forward in its drive to expand the online mobility hub it built to manage digital interactions among cars, drivers, fleets, service providers, and auto manufacturers—including Ford’s rivals. Palo Alto, CA-based Autonomic signed up Ayro, an electric vehicle startup, as a paying customer of its Transportation Mobility Cloud (TMC), … Continue reading “Ford’s Autonomic Connects EV Maker Ayro to Its Mobility Cloud”
Will Porsche Fans Ever Live in a Driverless World? Porsche Says No.
Imagine the transportation future 20 years from now. Here’s one way things could roll on a weekday: Many of us get picked up at home by a sturdy, standardized, driverless car that will also scoop up a few of our neighbors who work at other businesses near ours. Entering the highway, the vehicle automatically links … Continue reading “Will Porsche Fans Ever Live in a Driverless World? Porsche Says No.”
Ford, Retreating From Bold Timeline, Buys Quantum Signal for AV Tech
Back in 2016, Ford’s then-CEO Mark Fields fired a shot across the bow when he made a daring pledge. The big automaker would deploy fully autonomous fleet vehicles as part of a ride-sharing or ride-hailing service by 2021, when it would also be mass-producing such vehicles, he said. Earlier this year, though, current Ford CEO … Continue reading “Ford, Retreating From Bold Timeline, Buys Quantum Signal for AV Tech”
No Co-Founder? Y Combinator Offers Matchmaking at Startup School
From the moment Talia Frenkel resolved to found a company after a kitchen-table talk with her parents, the odds were against her. There were a host of reasons—she wasn’t a software engineer, she had no product development experience, and she wanted to launch a consumer item that was already sold widely by established enterprises. Yet … Continue reading “No Co-Founder? Y Combinator Offers Matchmaking at Startup School”
Freenome Snags $160M to Boost Blood Test for Early Cancer Detection
Freenome, one of the rivals racing to detect the earliest signs of cancer through blood tests, announced Wednesday it has raised $160 million in a Series B funding round. The money boosts Freenome’s fundraising total to $238 million. It’s a boon for the South San Francisco startup founded in 2014, but not an unusual haul … Continue reading “Freenome Snags $160M to Boost Blood Test for Early Cancer Detection”
With Regulator’s Nod, Bosch Plans Spread of Driverless Valet Parking
Mass fleets of self-driving cars have yet to arrive on our streets, but people are already worrying about where they’re going to park. If they all just circle around city blocks, competing to offer on-demand rides, they could slow traffic to a crawl, industry observers say. Autonomous robotaxi services like Alphabet unit Waymo’s are still … Continue reading “With Regulator’s Nod, Bosch Plans Spread of Driverless Valet Parking”
Could Facebook’s Crypto Break Financial System? Congress Airs Fears
In late 2017, a federal watchdog unit assigned a working group to keep an eye on cryptocurrencies such as Bitcoin, and to sound an alert if those alternate currencies showed signs of becoming a risk to the stability of the US financial system. Soaring prices of Bitcoin and other so-called digital tokens were attracting investments … Continue reading “Could Facebook’s Crypto Break Financial System? Congress Airs Fears”
Performance Management Firm 15Five Pulls in $30M to Scale Up
Many companies have been adjusting to the changing workforce as millennials become a larger component of their staff rosters. Some are adapting with the help of talent management services such as 15Five, which has studied the millennial mindset. San Francisco-based 15Five nudges employers to fill the needs of their customers by better addressing the needs … Continue reading “Performance Management Firm 15Five Pulls in $30M to Scale Up”
As Cities Ban Face Recognition, Body-Cam Firm Axon Also Nixes It
This week’s decision by police equipment manufacturer Axon to forego using facial recognition software in its body cameras follows a string of other actions against the use of face-matching technology by public agencies. They include a pioneering ban in San Francisco last month, and another passed Thursday by the city council of Somerville, MA. What … Continue reading “As Cities Ban Face Recognition, Body-Cam Firm Axon Also Nixes It”
Degreed Raises $75M to Expand in Growing Workforce Training Sector
Degreed, which helps businesses upgrade the skills of their staffers through an online gateway to learning resources, announced Thursday it has raised $75 million to grow the service and expand internationally. San Francisco-based Degreed is among the educational technology companies now classified as “learning experience platforms,’’ because they organize staff participation in skills development training … Continue reading “Degreed Raises $75M to Expand in Growing Workforce Training Sector”
Hate to Pump Gas? Booster Scores $56M to Scale Mobile Fill-Ups
Booster, an on-demand service that fills gas tanks for car owners while they shop at a mall or work at their office desks, announced Tuesday it has raised $56 million to expand into new territories. San Mateo, CA-based Booster runs about 70 mini fuel tankers that circulate at office complexes, sports clubs, and other commercial … Continue reading “Hate to Pump Gas? Booster Scores $56M to Scale Mobile Fill-Ups”
Dems and GOP Senators Unite Versus Big Tech on Data Privacy Bills
To hear some people talk, you’d think the age of bipartisan action in Congress was a lost phenomenon of the distant past. But it’s not so, at least when it comes to certain issues. And no one knows it better than the big Silicon Valley tech companies that are the recent targets of proposed bipartisan … Continue reading “Dems and GOP Senators Unite Versus Big Tech on Data Privacy Bills”
IPO Scorecard: CrowdStrike Gains 70 Percent on First Trading Day
Cybersecurity firm CrowdStrike delivered the kind of market debut this week that was an unfulfilled dream for the much-anticipated IPOs of Uber and Lyft earlier this year. Sunnyvale, CA-based CrowdStrike (NASDAQ: [[ticker:CRWD]]) priced 18 million shares of common stock at $34 on Tuesday. Trading began at $63.50 Wednesday, and reached a near-doubling of the company’s … Continue reading “IPO Scorecard: CrowdStrike Gains 70 Percent on First Trading Day”
Synapse Banks $33M to Grow its Automated Back Office for Fintechs
Prominent venture capital firm Andreessen Horowitz (a16z) has jumped in to back San Francisco startup Synapse, which has assembled a plug-in infrastructure to process financial transactions for banks as well as fintech startups. Andreessen led a Series B fundraising round that yielded $33 million for Synapse, which handles payments from checking accounts and credit cards, … Continue reading “Synapse Banks $33M to Grow its Automated Back Office for Fintechs”
Apple Touts New Privacy Moves as Antitrust Probes Loom for Big Tech
Both the House leadership and the Trump administration are preparing to challenge the power of Google, Facebook, and other big tech companies by launching antitrust investigations into their allegedly anticompetitive business practices, as the Washington Post detailed it this week. But the growing concern about the pervasive control of tech giants in arenas such as … Continue reading “Apple Touts New Privacy Moves as Antitrust Probes Loom for Big Tech”
Quantum Computing 101: Brilliant, Google, Microsoft Training Workers
From Microsoft and IBM to Alphabet’s unit X and Canada’s D-Wave Systems, companies are racing to build powerful quantum computers that may solve problems beyond the capacity of the most sophisticated conventional processors, and do it much faster. It’ll be some years before such uber-computers are robust and reliable enough for broad commercial use. But … Continue reading “Quantum Computing 101: Brilliant, Google, Microsoft Training Workers”
Cala Health Secures $50M to Launch Anti-Tremor Wrist Device
Cala Health announced this week it raised $50 million in a Series C financing that will fund the market introduction of its wristwatch-like device that delivers nerve stimulation as a remedy for tremors of the hands. New investors Novartis, Baird Capital, LifeSci Venture Partners and TriVentures participated in the fundraising round, and were joined by … Continue reading “Cala Health Secures $50M to Launch Anti-Tremor Wrist Device”
Sebastian Thrun and Udacity Launch New Self-Driving Nanodegree
[Corrected 5/21/19, 11:04 am. See below.] Sebastian Thrun first made his mark on autonomous vehicle development at the dawn of that industry, when he led a Stanford team whose robot car Stanley won the $2 million DARPA Grand Challenge in 2005 by racing driverless through the Mojave Desert for 132 miles. These days, Thrun seems … Continue reading “Sebastian Thrun and Udacity Launch New Self-Driving Nanodegree”
Endpoint Security Company CrowdStrike Files Publicly for IPO
CrowdStrike, the cybersecurity company that identified the two Russian government-linked hacker groups that invaded the Democratic National Committee (DNC)’s network during the 2016 presidential campaign, filed publicly for an initial public offering on Tuesday. Sunnyvale, CA-based CrowdStrike sells cloud-based security software and related services by subscription to businesses. Founded in 2011, the company adapted traditional … Continue reading “Endpoint Security Company CrowdStrike Files Publicly for IPO”
Respond Raises $20M to Advance Automated Response to Cyberattacks
In business sectors such as warehouse operations, automation may put a company’s current employees out of work in some cases. In the cybersecurity sector, automation can take up a multitude of tasks without displacing any staffers—because there aren’t enough qualified humans right now to fill all the jobs. That’s according to Bay Area cybersecurity company … Continue reading “Respond Raises $20M to Advance Automated Response to Cyberattacks”
Uber Completes $8.1B Public Market Debut in Spite of Tumultuous Past
[Updated 5/10/19, 5 pm ET. See below.] Ride-hailing giant Uber secured $8.1 billion in new capital late Thursday as it priced an initial public offering that set its market capitalization at $82.4 billion, according to calculations by The New York Times and other news outlets. Uber announced late Thursday it will sell 180 million shares … Continue reading “Uber Completes $8.1B Public Market Debut in Spite of Tumultuous Past”
Lyft Posts $1.1B Loss for Q1 in First Earnings Report Post-IPO
Newly public ride-hailing company Lyft (NASDAQ: [[ticker:LYFT]]) filed its first-quarter earnings results Tuesday, reporting a 95 percent increase in revenue compared with the same period in 2018, but a net loss of nearly $1.14 billion. That first-quarter loss includes $894 million of stock-based compensation and other expenses triggered by the completion of Lyft’s IPO on April … Continue reading “Lyft Posts $1.1B Loss for Q1 in First Earnings Report Post-IPO”
Exabeam Raises $75M To Compete With Splunk, Other Security Leaders
Landing its second shot of new capital in less than a year, cybersecurity startup Exabeam announced today it secured $75 million in a Series E funding round co-led by new investor Sapphire Ventures and returning investor Lightspeed Venture Partners. San Mateo, CA-based Exabeam says the cash boost will fund its competitive push in a cybersecurity … Continue reading “Exabeam Raises $75M To Compete With Splunk, Other Security Leaders”
Another $568M, and a $7B Valuation, for Automation Firm UiPath
UiPath, which helps businesses automate tedious digital processes such as billing and inventory control, announced today it raised $568 million from investors who agreed on a $7 billion valuation for the company. New York-based UiPath is one of the automation software companies that have been raking in capital recently as they compete for enterprise customers … Continue reading “Another $568M, and a $7B Valuation, for Automation Firm UiPath”
With $103M Raise, Edtech Firm Coursera Graduates to Unicorn Status
Online education company Coursera announced today it raised $103 million in a Series E equity funding round to expand the international reach of its coursework, degree offerings, and workforce training programs. The fundraising round brings in new investor SEEK Group, an Australia-based job search, education, and workforce matchmaking firm whose affiliated businesses operate in 18 … Continue reading “With $103M Raise, Edtech Firm Coursera Graduates to Unicorn Status”
The Designer’s AI Apprentice: Starck & Autodesk Create “AI Chair”
Can an artistic genius and a whip-smart computer get along? French designer Philippe Starck—whose work is a mainstay of museum exhibitions—decided to find out. About two years ago, Starck heard that 3D engineering software company Autodesk (NASDAQ: [[ticker:ADSK]]) was using artificial intelligence software to churn out images of possible products, guided by the design specifications … Continue reading “The Designer’s AI Apprentice: Starck & Autodesk Create “AI Chair””
6sense Raises $27M to Uncover Hidden Interests of B2B Buyers
Let’s say you’re wondering whether another software provider could do a better job for your business than the one you already use. You start a web search on its competitors. Suddenly, you get a friendly message from your current software provider, asking how things are going. Was it a sixth sense? Nope, as you can … Continue reading “6sense Raises $27M to Uncover Hidden Interests of B2B Buyers”
Lyft, Uber, and the Changing Disclosure Rules For Unicorn IPOs
When a much-watched tech company such as Lyft, Uber, or Pinterest files for an initial public stock offering, people eagerly scour the sudden trove of information that such a private business must finally disclose when it begins to offer shares to the general public, rather than only to sophisticated inside investors such as venture capital … Continue reading “Lyft, Uber, and the Changing Disclosure Rules For Unicorn IPOs”
Lyft Raises $2.2B in IPO, Pegging Valuation at Over $24B
Investors eager to bet on the mobility industry’s future handed ride-hailing company Lyft $2.2 billion in new capital Thursday as the company completed an IPO that set its market capitalization at $24.3 billion, The New York Times reported. Lyft sold 30.8 million shares at $72 apiece, according to Renaissance Capital—the top of a new range … Continue reading “Lyft Raises $2.2B in IPO, Pegging Valuation at Over $24B”
FTC Queries Internet Providers on Consumer Data Collection and Use
The Federal Trade Commission, which has been digging into the privacy practices of tech giants Facebook and Google, is now training its sights on the internet service providers that bring us all our online content. In its role as a consumer protection agency, the FTC ordered Verizon, AT&T, T-Mobile, Comcast, Google Fiber, and other ISPs … Continue reading “FTC Queries Internet Providers on Consumer Data Collection and Use”
New Funding for Workplace Software Firms Skedulo and Scope AR
Two young San Francisco companies on Wednesday announced fundraisings to bolster their online services aimed at improving workforce efficiency. —Skedulo, which helps managers schedule assignments for field service personnel, says it raised $28 million in a Series B funding round led by M12, Microsoft’s corporate venture arm. Joining in the round were previous investors Blackbird, … Continue reading “New Funding for Workplace Software Firms Skedulo and Scope AR”
New Accelerator Aims For Social Change With AR, VR, Gaming Startups
Games for Change, a non-profit that promotes the use of games and immersive technology for social good, is taking applications from startup teams for a new accelerator program it’s launching in New York City. New York-based Games for Change already encourages game and XR developers, by a variety of means, to build societal benefits into … Continue reading “New Accelerator Aims For Social Change With AR, VR, Gaming Startups”
Privacy Watch: FTC, Facebook, EU, the Cloud Act, & More CA bills
Privacy issues continued to boil to the surface in February. In part, it’s a reflection of the long tail of consequences that began in early 2018 when the broader public learned that Facebook had shared data from millions of user profiles with now-shuttered political marketing firm Cambridge Analytica. The consequences of that wider public awareness … Continue reading “Privacy Watch: FTC, Facebook, EU, the Cloud Act, & More CA bills”
Early-Stage VC Firm Sorenson Ventures Closes Inaugural Fund at $110M
Sorenson Ventures, an offshoot of Utah private equity firm Sorenson Capital, announced today it has closed its first fund with more than $110 million to invest in early-stage security and enterprise software companies. The young venture capital firm was formed in 2017 by Sorenson Capital, which recruited former Intel Capital executive Ken Elefant as managing … Continue reading “Early-Stage VC Firm Sorenson Ventures Closes Inaugural Fund at $110M”
Menlo Ventures Devotes New $500M Fund to Mid-Stage Growth Companies
Menlo Ventures, like many other Silicon Valley venture capital firms, has at times looked for big returns from spotting early-stage companies with great promise. But as it launches a new $500 million fund, it plans to hunt for companies that are further along, and seem poised to take off on a growth curve. Those early-growth … Continue reading “Menlo Ventures Devotes New $500M Fund to Mid-Stage Growth Companies”
Privacy Watch: Facebook Rebounds, But Privacy Concerns Accelerate
After Facebook posted a record profit of almost $7 billion in the fourth quarter on nearly $17 billion in revenue last week, an early investor, former advisor to CEO Mark Zuckerberg, and current shareholder said he’s making it a mission to “fix’’ the 15-year-old tech giant. Roger McNamee, in a podcast interview with The New … Continue reading “Privacy Watch: Facebook Rebounds, But Privacy Concerns Accelerate”
Equidate, Re-Named Forge Global, Boosts Series B to $85M
Equidate, one of the trading platforms that help employees sell their shares in pre-IPO unicorn companies, rolled out a new name today and announced a $35 million expansion of its $50 million funding round publicized in July. Re-branded as Forge Global, the five-year-old company plans to continue broadening the services it developed as many venture … Continue reading “Equidate, Re-Named Forge Global, Boosts Series B to $85M”
Norwest VC Eyes Waves of Change in A.I., Marketing, Cloud for 2019
Venture capital firms invest in potentially disruptive technologies with the hope of profit, then keep watch for further advances that could overtake their existing portfolio companies. All this is done while they guide startups through other external challenges such as fundraising droughts and overall market downturns. Scott Beechuk, a partner at Norwest Venture Partners, is … Continue reading “Norwest VC Eyes Waves of Change in A.I., Marketing, Cloud for 2019”
Autonomic CEO Gavin Sherry on Mobility, China, and Data Privacy
In a tech culture that looks toward self-driving cars as the pinnacle of mobility innovation, we’re still debating whether fully autonomous vehicles are an imminent reality for our roads or an ever-receding Shangri-La. But looking back from the viewpoint of 2019, it’s worth considering whether the really pivotal, world-changing advances in transportation have not already … Continue reading “Autonomic CEO Gavin Sherry on Mobility, China, and Data Privacy”
Educational Play Kit Company Osmo Sold to India’s Edtech Firm Byju’s for $120M
Byju’s, an edtech company based in India that claims a $3.6 billion valuation based on its sales success there, announced it has acquired Palo Alto, CA-based learning-through-play firm Osmo for $120 million. Named after the teacher Byju Raveendran, who founded the company in 2011, Byju’s is making its first acquisition in the United States to … Continue reading “Educational Play Kit Company Osmo Sold to India’s Edtech Firm Byju’s for $120M”
ScoutRFP Scores $33M to Compete in Supplier Management Sector
ScoutRFP, whose software is designed to help businesses streamline the process of ordering goods from suppliers, announced that it raised $33 million in a Series C fundraising round led by Scale Venture Partners. San Francisco-based Scout, part of a tech sector dubbed supplier relations management, or SRM, aims to free businesses from painstaking traditional methods … Continue reading “ScoutRFP Scores $33M to Compete in Supplier Management Sector”
A VC’s Take: Global Volatility Hurts U.S. Venture Ecosystem
As Xconomy’s editors looked back at the year just passed, we asked technology leaders to comment on the trends they’d observed in 2018, and the developments they expected in 2019. Some leaders responded with their views on the business impact of the Trump era, pointing to specific policy positions such as tax code revisions, curbs … Continue reading “A VC’s Take: Global Volatility Hurts U.S. Venture Ecosystem”