Comfy, an Austin, TX-based free online service that helps college students locate new housing, has secured a $1.25 million Series A round from existing investor ATX Seed Ventures as the company begins shifting its focus to a newly launched bill-paying app that it hopes will earn it more money. In March, Comfy launched Unbill, an … Continue reading “Comfy’s Bill-Splitting App for Roommates Garners $1.25M Series A”
Author: David Holley
David is the national correspondent at Xconomy. He has spent most of his career covering business of every kind, from breweries in Oregon to investment banks in New York. A native of the Pacific Northwest, David started his career reporting at weekly and daily newspapers, covering murder trials, city council meetings, the expanding startup tech industry in the region, and everything between. He left the West Coast to pursue business journalism in New York, first writing about biotech and then private equity at The Deal. After a stint at Bloomberg News writing about high-yield bonds and leveraged loans, David relocated from New York to Austin, TX.
He graduated from Portland State University.
Listing Service For Home Owners SQFT Hopes to Double Reach in 2015
Most people are willing to sacrifice a few thousand dollars in realtor fees to avoid the hassle of trying to sell their home solo. Those who aren’t—about 9 percent of U.S. sellers—now have a new method of selling themselves: an app called SQFT that allows them to price their home, post a listing for it … Continue reading “Listing Service For Home Owners SQFT Hopes to Double Reach in 2015”
9 Frothy Tech Sectors of 2015: Food Delivery, Fintech, Drones & More
There’s a point at which a technology market or sector feels overhyped and saturated. Sometimes it’s when the first $1 billion valuation is announced—or when venture capital starts flowing so freely that it seems due diligence is an afterthought. And it’s definitely when media start calling tech businesses “Uber for (fill in the blank).” In … Continue reading “9 Frothy Tech Sectors of 2015: Food Delivery, Fintech, Drones & More”
Boston Tech Roundup: Databox, Ascent, LogMeIn, & More
There have been so many big headlines coming out of Boston this week—OK, really just one, about Tom Brady—that it’s been easy to miss some of them. With that in mind, here’s a roundup of some technology news of import: —Databox, a Boston company that helps marketers and managers track data from services such as … Continue reading “Boston Tech Roundup: Databox, Ascent, LogMeIn, & More”
For Streamlining Customer Service, Intercom Raises $35M
A San Francisco customer service and marketing startup called Intercom, which targets software companies, has raised $35 million in a Series C financing round as it attempts to distinguish itself in a crowded market. Intercom says it has developed a way to combine sales, marketing, product, and support systems into one platform. The company offers … Continue reading “For Streamlining Customer Service, Intercom Raises $35M”
RainDance Technologies Cancels Long-Awaited IPO
RainDance Technologies, the Billerica, MA-based company that provides tools used by research institutions and diagnostic companies, has canceled its planned $60 million initial public offering because of market conditions, the company said in a filing with the U.S. Securities and Exchange Commission. The company said it might consider raising money through a private offering. Funding … Continue reading “RainDance Technologies Cancels Long-Awaited IPO”
Carbon3D Gains Google’s $100M Backing for 3-D Printing Tech
[Updated 8/20/15, 5 p.m. See below.] Is Carbon3D the next step in 3-D printing? Google seems to think so. Google Ventures led a $100 million round in the San Francisco-based company, which has developed a method of “printing” objects from a liquid resin using a photochemical process that it says is based on a a character … Continue reading “Carbon3D Gains Google’s $100M Backing for 3-D Printing Tech”
Fertility-Focused Kindara Lands $5.3M Seed Round
Kindara, the Boulder, CO-based company with a digital health tool that helps women get pregnant or avoid pregnancy, has raised $5.3 million of seed funding to finish manufacturing and launch its device, called Wink. The funding will also help the company expand into other areas of tracking women’s health. Founded in 2012, Kindara developed an … Continue reading “Fertility-Focused Kindara Lands $5.3M Seed Round”
Datameer Snags $40M Series E for International Expansion
Datameer, the San Francisco-based data analytics provider, has received a $40 million round of Series E funding to help it expand globally. The company was founded in 2009 and uses the open source Hadoop distributed computing framework, meant to help businesses run analytics of large data sets, Datameer says. The Series E round was led … Continue reading “Datameer Snags $40M Series E for International Expansion”
Seattle E-Retailer Zulily Sells to QVC In Deal Worth $2.4 Billion
After a meteoric rise and a similar decline, at least in terms of its stock, Seattle-based flash sale site Zulily is selling to retailer QVC in a deal valued at about $2.4 billion in cash and stock. The site, which targets young moms and their kids with daily deals, is selling for $18.75 per share—about … Continue reading “Seattle E-Retailer Zulily Sells to QVC In Deal Worth $2.4 Billion”
Galvanize Expands Coding School, Co-working Space Into Austin
Galvanize, the Denver-based startup that provides programming training, venture funding, and co-working space for the tech world, is opening a 25,000-foot Austin location in February that will have classrooms, private and public working spaces, and event areas. The three-year-old company intends to offer courses for programmers and data scientists at the Austin location, the newest … Continue reading “Galvanize Expands Coding School, Co-working Space Into Austin”
As Google Restructures to Alphabet, Innovation Remains in Focus
Most tech companies fear that growth could stifle innovation. At Google, founders Larry Page and Sergey Brin have historically suppressed that concern by using its billions of dollars in advertising and search engine revenues to invest in, build, and acquire creative technology. Now the Silicon Valley search giant is separating what The New York Times … Continue reading “As Google Restructures to Alphabet, Innovation Remains in Focus”
Aimmune Prices Upsized $160M IPO, Climbs Higher in Debut
Aimmune Therapeutics is capping a year of positive news with a larger-than-expected initial public offering. The company raised $160 million late Wednesday by selling 10 million shares at $16 each, pricing at the top of its projected $14 to $16 per share range and selling about 1.7 million more shares than it had anticipated. Aimmune … Continue reading “Aimmune Prices Upsized $160M IPO, Climbs Higher in Debut”
With $16M Series B, Antiva Hopes to Kill Cancer-Causing HPV
Antiva Biosciences may have a new name, but its mission is the same: to develop the first antiviral therapy meant to stop human papillomavirus infections from turning into cancer. The Menlo Park, CA-based company, founded in San Diego three years ago as Hera Therapeutics by Karl Hostetler, now has some funding to pursue its vision. … Continue reading “With $16M Series B, Antiva Hopes to Kill Cancer-Causing HPV”
Illumina Announces Three New Companies for Genomics Accelerator
Illumina, the bioinformatics company that created an accelerator program last year focused on genomics companies, announced this morning it has picked a new group of companies to be the second class its accelerator program. In exchange for an equity stake in each company, the Illumina Accelerator gives the startups a seed investment, business advice, and … Continue reading “Illumina Announces Three New Companies for Genomics Accelerator”
As White House Hosts Demo Day, Techstars and Others Push Diversity
It’s no secret that the tech industry has diversity problems. Xconomy has covered the topic extensively, highlighting various allegations of misogyny, sexism, and harassment that occur at startups, as well as folks who are trying to change it for the better. That includes individuals like Robin Hauser Reynolds, who described the work of her documentary, … Continue reading “As White House Hosts Demo Day, Techstars and Others Push Diversity”
Microsoft Buys Austin-Based FantasySalesTeam
Austin, TX, is known for semiconductors and startups, for breakfast tacos and music festivals. It may also now be a hub for the gamification of business. Microsoft said Monday it is buying Austin-based Incent Games, a company that sells a fantasy sports-style tool called FantasySalesTeam that aims to help customers boost sales by treating its salespeople like fantasy … Continue reading “Microsoft Buys Austin-Based FantasySalesTeam”
Boston’s HubSpot Axes Marketing Exec Over Book Manuscript
[Updated Wednesday, July 29, 10:30pm] Boston-area online marketing business HubSpot, which netted about $114 million from an IPO in October, said late Wednesday it has fired its chief marketing officer and replaced him with Kipp Bodnar, a vice president who started at the company in 2010. Mike Volpe was terminated from his role at HubSpot, a … Continue reading “Boston’s HubSpot Axes Marketing Exec Over Book Manuscript”
Foresite Capital Keeps Late-Stage Healthcare Focus With $450M Third Fund
Foresite Capital is launching its third fund in as many years. It has closed the $450 million Foresite Capital Fund III, bringing the healthcare-focused firm’s assets to more than $1 billion, the company said in a statement today. With its new fund, Foresite, which has offices in San Francisco and New York, aims to invest … Continue reading “Foresite Capital Keeps Late-Stage Healthcare Focus With $450M Third Fund”
With $550M Fund, Deerfield Management Tackles Early Stage Biotech
Developing lab research into the foundations of a profitable biotech company has always been a high-risk, high-reward business. Deerfield Management, a New York-based healthcare investor with more than $5 billion under management and two decades of experience, has created a new $550 million fund that targets early stage science from academic medical centers and hospitals. … Continue reading “With $550M Fund, Deerfield Management Tackles Early Stage Biotech”
DraftKings CEO: Early interest From MLB, Kraft Group ‘Eye-Opening’
DraftKings is in a growth phase, attempting to draw as many users as possible to its daily fantasy sports website, which in turn the company hopes will drive more sports fans to advertising partners that include ESPN and FOX Sports, according to CEO and co-founder Jason Robins. The Boston-based startup this week raised a $300 million Series … Continue reading “DraftKings CEO: Early interest From MLB, Kraft Group ‘Eye-Opening’”
DraftKings Plans International Growth With $300M Funding
Just a month after Walt Disney Co. reportedly backed out of a expected investment in Boston startup DraftKings, the Bay State company has found some other big-name investors willing to bet on its ability to rule the daily fantasy sports world. FOX Sports, which represents 21st Century FOX’s US-based sports assets, announced it is leading … Continue reading “DraftKings Plans International Growth With $300M Funding”
Boston’s Ecovent Snags $6.9M for Wireless Climate-Control Tech
Ecovent, the Boston startup whose wireless technology promises room-by-room control of a home’s temperature, has received $6.9 million in Series A funding as it prepares to ship its first round of products in August. The company has already pre-sold $1 million worth of its temperature-controlling technology, which starts at about $490 per order during the … Continue reading “Boston’s Ecovent Snags $6.9M for Wireless Climate-Control Tech”
Ginkgo Bioworks Adds $45M to Expand Organism Engineering
Ginkgo Bioworks has raised its second round of funding this year, a $45 million Series B, which it plans to use to create new kinds of synthetically engineered organisms and build a second production facility. The Boston-based company designs and builds organisms for customers that can be turned into customized cultured ingredients, such as flavors, … Continue reading “Ginkgo Bioworks Adds $45M to Expand Organism Engineering”
Ra Pharma Gets $58.5M in Crossover Cash to Target Rare Blood Disease
Ra Pharmaceuticals, a Cambridge,MA-based company that signed a large collaboration deal with Merck two years ago, has received a $58.5 million Series B financing to take its first drug, a potential treatment for an ultra-rare blood disorder, called paroxysmal nocturnal hemoglobinuria, into human clinical testing. PNH occurs when a part of the immune system called … Continue reading “Ra Pharma Gets $58.5M in Crossover Cash to Target Rare Blood Disease”
Companies May Stay Private as VCs Invest $32.5B, Report Says
As record levels of venture funding piles into startups, more companies may stay private rather than file for initial public offerings, according to venture capital database CB Insights and accounting firm KPMG. Private companies raised more than $32.5 billion in the second quarter of 2015, with about half of the total coming from 61 deals … Continue reading “Companies May Stay Private as VCs Invest $32.5B, Report Says”
East Coast Biotech Roundup: Celgene, Chiasma, Cerulean, & More
[Updated 7/19/15, 9:36 p.m. See below.] In this week’s Celgene roundup—sorry, this week’s biotech roundup—Celgene is yet again leading the way with its second billion-plus dollar deal in the last month. Beyond Celgene’s recent high level of activity, the last week has been defined by news that was expected to happen—from initial public offerings to data … Continue reading “East Coast Biotech Roundup: Celgene, Chiasma, Cerulean, & More”
Orphan Drug Maker Chiasma Raises $101.8M in IPO
Orphan disease drug developer Chiasma raised $101.8 million in its initial public offering, $20 million more than the upper end of the Newton, MA-based biopharma company’s previous projection. Chiasma (NASDAQ: [[ticker:CHMA]]) is using most of the money to build out its U.S. sales and marketing operations as it readies itself for the potential launch of … Continue reading “Orphan Drug Maker Chiasma Raises $101.8M in IPO”
Venture Investing Hits Record $19B in Second Quarter
[Updated 7/17/15, 7:40 a.m. See below.] There’s plenty of talk about a potential bubble in the market, whether in tech, biotech, or elsewhere. True or not, one fact that’s real is that there is plenty of money flowing into startups. The second quarter of 2015 produced the highest level of venture funding since at least 2010, and possibly … Continue reading “Venture Investing Hits Record $19B in Second Quarter”
Entasis Hires Isaacs From Merck Vaccine Research
Robin David Isaacs is joining Entasis Therapeutics as its chief medical officer. The Waltham, MA-based company is a spinout of AstraZeneca and is focused on creating novel antibiotics with a pathogen-targeted approach. The company’s lead candidate is ETX0914, a treatment of uncomplicated gonorrhea in Phase 2. Isaacs comes from Merck, where he worked for 18 … Continue reading “Entasis Hires Isaacs From Merck Vaccine Research”
EyeGate CEO: Valeant Deal Helps Company Avoid Mistakes of Past
For EyeGate Pharmaceuticals, the licensing deal it signed last week with Valeant Pharmaceuticals International provides the necessary cash to push forward a uveitis drug that has been in limbo since EyeGate raised less than expected in its initial public offering. EyeGate CEO Stephen From argues that it’s not just about the cash. It’s about the … Continue reading “EyeGate CEO: Valeant Deal Helps Company Avoid Mistakes of Past”
FDA Grants Blueprint Go-Ahead for Kinase Inhibitor Trials
Blueprint Medicines got the green light from the Food and Drug Administration to begin clinical trials on its two lead drug candidates for cancer, about two months after its initial public offering. The Cambridge, MA-based maker of a type of cancer drug called kinase inhibitors is using high-speed DNA sequencing instruments to test a homemade … Continue reading “FDA Grants Blueprint Go-Ahead for Kinase Inhibitor Trials”
East Coast Biotech Roundup: Biogen, Epizyme, Armored CARS, & More
Biotech continued its active summer on the east coast this week, with everything from licensing deals to acquisitions to IPOs. Here are the highlights, in case you missed them. —After four years of revamping and rebuilding Biogen’s development pipeline, R&D chief Douglas Williams announced he is leaving the company to take the helm at a … Continue reading “East Coast Biotech Roundup: Biogen, Epizyme, Armored CARS, & More”
EyeGate Deals Treatment Rights to Valeant to Pay for Clinical Trials
EyeGate Pharmaceuticals, a Waltham, MA-based company that has been seeking FDA approval for an eye disease drug for years, is sacrificing future worldwide rights to a treatment for uveitis to get enough money from drug behemoth Valeant Pharmaceuticals International to put the therapy back on regulatory track. In exchange for an undisclosed upfront cash payment and milestones, … Continue reading “EyeGate Deals Treatment Rights to Valeant to Pay for Clinical Trials”
Biogen R&D Chief Doug Williams Leaves to Run New Cancer Startup
Biogen’s top research and development executive Doug Williams is leaving the company this month to take the helm at a startup that doesn’t yet have a name, Biogen announced today. Williams, who joined Biogen in 2011, is being replaced for now by the company’s chief medical officer, Alfred Sandrock, and its chief science officer, Spyros … Continue reading “Biogen R&D Chief Doug Williams Leaves to Run New Cancer Startup”
BioStar Ventures Raises $68.6M Fund for Med-Tech Companies
BioStar Ventures has raised a $68.8 million third fund, its largest to date, and plans to invest the money in as many as 18 emerging med-tech companies during the next five years, the firm said in a statement today. Its first two funds totaled $65 million. The firm has previously invested in 30 companies, including … Continue reading “BioStar Ventures Raises $68.6M Fund for Med-Tech Companies”
With PCSK9’s Origins In Mind, Sanofi Has UT Join Funding Program
International drug maker Sanofi has created a program to fund early drug discovery research at universities, and the Paris-based firm said today The University of Texas System is now on board, bringing the program’s total to seven institutions. Many successful or promising drugs stemmed from early work at universities, including a next-generation cholesterol-lowering treatment that … Continue reading “With PCSK9’s Origins In Mind, Sanofi Has UT Join Funding Program”
Epizyme Extends Celgene Cancer Deal for $10M Upfront
Only three years after Celgene and Epizyme last inked a research collaboration deal, the partners are back at it. Celgene has agreed to pay Epizyme $10 million upfront and as much as $610 million in milestones for the option to license three drug targets Epizyme (NASDAQ: [[ticker:EPZM]]) is developing, which use its method of inhibiting … Continue reading “Epizyme Extends Celgene Cancer Deal for $10M Upfront”
Aimmune May Seek Up To $115M in IPO for Allergy Therapy Drug
Only a few months after raising $80 million in a Series B financing, Aimmune Therapeutics is hoping that its goal of creating a pharmaceutical-grade therapy for peanut and other allergies will help it raise as much as $115 million in an initial public offering. The Brisbane, CA-based company, which changed its name to Aimmune from … Continue reading “Aimmune May Seek Up To $115M in IPO for Allergy Therapy Drug”
FDA Cuts Limit on Esperion Cholesterol Drug, Considers Competitors
[Corrected 7/8/15, 1:40 p.m. See below.] As the FDA considers whether to approve two new cholesterol drugs with blockbuster potential, the agency also removed a “partial clinical hold” on the amount the maker of a third competing drug can test in clinical trials. Esperion Therapeutics, based in Ann Arbor, MI, announced Tuesday that the FDA removed … Continue reading “FDA Cuts Limit on Esperion Cholesterol Drug, Considers Competitors”
Chiasma Seeks $75 Million and FDA Approval for Acromegaly Orphan Drug
Chiasma, a Newton, MA-based biopharma company trying to develop oral drugs for orphan diseases typically treated with injectables, is seeking to sell shares in an initial public offering worth about $75 million. The company plans to sell 5.36 million shares for $13 to $15 each in the IPO, according to a document filed with the … Continue reading “Chiasma Seeks $75 Million and FDA Approval for Acromegaly Orphan Drug”
BioCardia Files for $50M IPO for Cell-Based Cardiovascular Therapies
BioCardia, a San Carlos, CA-based company expecting to enter its lead cell-based therapy for cardiovascular disease into a Phase 3 trial this year, filed paperwork saying it hopes to raise about $50 million in an initial public offering. The company wants to sell 3.85 million shares for $12 to $14 per share, according to an … Continue reading “BioCardia Files for $50M IPO for Cell-Based Cardiovascular Therapies”
Data Gatherer Turned Drug Developer 23andMe Raises $79.1M, Wants More
23andMe, the data gatherer turned drug developer, appears to be raising $150 million of new funding, according to a document filed July 2 with the Securities and Exchange Commission. The company has sold $79.1 million in the offering so far, according to the document, which shows at least part of the funding was for Series … Continue reading “Data Gatherer Turned Drug Developer 23andMe Raises $79.1M, Wants More”
East Coast Biotech Roundup: Vertex, Biogen, Sarepta, Juno, & More
What a week it was for life sciences. Two deals worth more than $1 billion dollars each, FDA approval for a long-awaited potential cystic fibrosis drug, and plenty of other news from new and established biotech companies. And all this happened while Xconomy’s Deputy Biotech Editor Ben Fidler is out of the office. Here’s a … Continue reading “East Coast Biotech Roundup: Vertex, Biogen, Sarepta, Juno, & More”
FDA Approves Vertex’s Two-Drug Combo For Cystic Fibrosis
[Updated 7/2/15, 2:55 p.m. See below.] The long-expected approval of Vertex Pharmaceuticals’ new combination drug for cystic fibrosis is finally here. The FDA approved the therapy regimen in a letter it sent to the Boston-based company Thursday. The drug’s approval was all but certain, and paves the way for potential billions of dollars in future sales. … Continue reading “FDA Approves Vertex’s Two-Drug Combo For Cystic Fibrosis”
Biogen Offers Up To $1 Billion for AGTC’s Ophthalmology Gene Therapy
Biogen’s revitalized interest in gene therapy continues with a deal the Cambridge, MA-based biotech giant announced this morning. Biogen has agreed to pay $124 million upfront (including about $30 million that came as an equity investment) and as much as $1.1 billion in future milestones to Gainesville, FL-based AGTC (NASDAQ: [[ticker:AGTC]]) for access to its … Continue reading “Biogen Offers Up To $1 Billion for AGTC’s Ophthalmology Gene Therapy”
Cisco-OpenDNS Deal Shows Importance of DNS in Security, Dyn CEO Says
Cisco is paying $635 million for privately held OpenDNS, a company founded in 2005 by David Ulevitch, to further build out its cloud-based security business. But the deal is also a sign of the times, according to a prominent player in Web infrastructure. The purchase of San Francisco-based OpenDNS shows that there is still a … Continue reading “Cisco-OpenDNS Deal Shows Importance of DNS in Security, Dyn CEO Says”
Editas Medicine Hires Andrew Hack As CFO
Editas Medicine, of Cambridge, MA, has hired former hedge fund manager Andrew Hack as its chief financial officer, the company said this morning. Hack was most recently a portfolio manager at New York hedge fund Millennium Management, where he focused on biotechnology, pharmaceutical, and medical device companies. Hack got his start as the co-founder of … Continue reading “Editas Medicine Hires Andrew Hack As CFO”
Boston Coders Build “Yeah Buoii” to Prevent Illegal Fishing at High Sea
Coders may be used to hacking problems related to phishing, but one international contest that a group from Boston is hoping to win is tackling fishing itself. Four Bostonians have written algorithms and built a prototype buoy that is intended to detect, identify, and track ships on the high seas that enter “no-fish zones” in … Continue reading “Boston Coders Build “Yeah Buoii” to Prevent Illegal Fishing at High Sea”
Amag Seeks New Chapter With $700M Cord Blood Registry Purchase
Amag Pharmaceuticals is trying to climb out of a midlife crisis, and it’s using acquisitions to do so. The Waltham, MA-based company split from long-time CEO Brian Pereira in 2011, a few weeks after its ill-fated attempt to merge with Allos Therapeutics (NASDAQ: [[ticker:ALTH]]) was voted down by shareholders. Amag (NASDAQ: [[ticker:AMAG]]) tried to move … Continue reading “Amag Seeks New Chapter With $700M Cord Blood Registry Purchase”