A number of innovative cleantech and life sciences startups we’ve written about have been funded and staffed by Cambridge, MA-based Flagship Ventures. But not all of these companies made traditional pitches to Flagship like they would any other investor. A large chunk of the firm’s portfolio includes companies that have been created, developed, and incubated … Continue reading “Flagship VentureLabs, Creating and Spinning Out Cleantech and Life Sciences Startups for 10 Years, Takes the Veil Off”
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.
Ze-Gen Adds $8M
Ze-Gen, a Boston-based developer of technology for converting solid waste into gas for power plants, has raised another $8 million in equity-based funding, according to an SEC filing. The money comes atop $17.6 million in funding that the firm revealed last year in a regulatory document, bringing the financing’s total to $25.6 million.
Sermo Gets $3.5M from MMV
Cambridge, MA-based Sermo, provider of the nation’s largest online community of doctors, has received $3.5 million in growth capital funding from MMV Financial, the finance firm announced today. The money comes as part of a $5 million round for Sermo, which will use the funds to expand its physician community, according to the announcement. Sermo … Continue reading “Sermo Gets $3.5M from MMV”
Constant Contact Pays $15M For Bantam Live
Waltham, MA-based online marketing technology firm Constant Contact (NASDAQ: [[ticker:CTCT]]) announced today that it has acquired Bantam Live, a New York-based social customer relationship management technology provider owned by Bantam Networks, for $15 million in cash. The acquisition, which closed on February 15, will enable Constant Contact to create a unified repository of data across … Continue reading “Constant Contact Pays $15M For Bantam Live”
Green IT: Boston’s Mini-Cluster of Companies Using Hardware, Software, and Web Information Technology to Lower Consumer Energy Usage
The Boston area gets plenty of attention for the software, Web, hardware, and mobile firms it serves as home to. It also has a crop of companies working on renewable energy and efficient battery technology. But it turns out those IT and energy areas aren’t mutually exclusive, as there’s a growing cluster of companies who … Continue reading “Green IT: Boston’s Mini-Cluster of Companies Using Hardware, Software, and Web Information Technology to Lower Consumer Energy Usage”
Plexxi, VisionScope, and CashStar: A Trio of New England Tuesday Financings
Tech companies across the New England region revealed today that they have been raising some cash. Check out the details below: —CashStar, a Portland, ME-based startup in the digital gifting and incentives space, announced today that it has raised $5 million in funding, led by San Francisco-based Passport Capital, with participation from investment bank Allen … Continue reading “Plexxi, VisionScope, and CashStar: A Trio of New England Tuesday Financings”
Bay State Startup Funding Booms to $242.5M in January; Healthcare Firms Lead the Way
Funding dollars for Massachusetts tech and life sciences startups surged by more than 25 percent from December to January, with 32 startups bringing in $242.5 million in equity-based funding, according to data supplied by our partner CB Insights’ FundingFlash, a daily roundup of companies receiving venture capital, angel investment, and growth equity funding. The healthcare … Continue reading “Bay State Startup Funding Booms to $242.5M in January; Healthcare Firms Lead the Way”
New CEO for Datawatch
Chelmsford, MA-based Datawatch (NASDAQ: [[ticker:DWCH]]), an analytics products and services provider, announced today that it has hired IBM and Cognos veteran Michael Morrison as its president and chief executive, replacing previous CEO Ken Bero. Morrison, who will also sit on the Datawatch board of directors, was IBM’s vice president of financial performance management and held a … Continue reading “New CEO for Datawatch”
Sepaton Replaces CEO
Marlborough, MA-based Sepaton, a provider of disk-based data protection services for enterprise customers, announced today that it has promoted Mike Thompson from the role of executive vice president of worldwide sales and marketing to the position of CEO. He replaces Mike Worhach, who will stay on as vice chairman of the Sepaton board of directors. … Continue reading “Sepaton Replaces CEO”
Stromedix Adds Debt to Finance Clinical Trial, Eliza and Google Team Up for Health IT Website, Arsanis Gets $10M, & More Boston-Area Life Sciences News
We saw headlines from health IT firms and drug developers in New England this week. —Cambridge, MA-based drug developer Stromedix is looking to kick off a mid-stage clinical trial of its lead drug, and has attracted some debt-based financing to cover the costs, Ryan wrote. CEO Michael Gilman says the firm has also gotten interest … Continue reading “Stromedix Adds Debt to Finance Clinical Trial, Eliza and Google Team Up for Health IT Website, Arsanis Gets $10M, & More Boston-Area Life Sciences News”
TechStars Boston Raising $2M
Startup incubator program TechStars Boston revealed in a regulatory filing today that it has brought in $501,250 of a $2 million funding round. The money will go to supporting the program, which will kick off its 2011 installment next month, through 2014, according to a report in Mass High Tech.
Kauffman Labs Inaugural Incubator Program Brings In Education-Focused Entrepreneurs from Massachusetts, Michigan, and Bay Area
Surprise: we’re writing about an incubator. (OK, it might not come as a surprise. There’s been no shortage of news surrounding programs designed to create and accelerate tech startups across the nation, as my colleague Greg recently noted.) The Education Ventures Program, which will kick off later this month, is a bit different, though. It’s … Continue reading “Kauffman Labs Inaugural Incubator Program Brings In Education-Focused Entrepreneurs from Massachusetts, Michigan, and Bay Area”
Vlingo Sees Big Future in Searching Mobile Content and Enabling Functions On The Fly
Cambridge, MA-based Vlingo came out of stealth mode in 2007 with technology that enabled users to search and call businesses from their mobile phones, and ultimately sought to give users the power to use their voice for the mobile functions that previously required a keyboard. But now it’s looking to go far beyond that, to … Continue reading “Vlingo Sees Big Future in Searching Mobile Content and Enabling Functions On The Fly”
NaviSite Bought By Time Warner, BG Medicine Goes Public, Omnicom Gets Communispace, & More Boston-Area Deals News
Startup financings and acquisitions news have poured into the New England area at roughly the same rate the precipitation has in the last week. —Andover, MA-based IT services provider NaviSite was bought by Time Warner Cable for $5.50 per share in cash, for a total equity value of $230 million. The Time Warner (NYSE: [[ticker:TWC]]) … Continue reading “NaviSite Bought By Time Warner, BG Medicine Goes Public, Omnicom Gets Communispace, & More Boston-Area Deals News”
Basho Brings in Half of $7.5M Round
Cambridge, MA-based Basho Technologies, a provider of open source database software, has brought in roughly half of a $7.5 million funding round, according to a report today in Mass High Tech. The money comes from private equity firm Georgetown Partners, and Trifork AS, a Danish systems integrator that has also come on board as the … Continue reading “Basho Brings in Half of $7.5M Round”
MindShift Rounds Up Orbit
Waltham, MA-headquartered IT and cloud services firm MindShift Technologies announced today that it has acquired Orbit Systems, a managed services provider based in Minnesota’s Twin Cities, for an undisclosed sum. Orbit Systems’ 54 employees will remain as a result of the acquisition, which helps MindShift expand its reach across North America, according to the announcement. This … Continue reading “MindShift Rounds Up Orbit”
Omnicom Buys Communispace to Connect with Consumers
[Updated 2/08/11 9:25 am. See below.] Omnicom Group (NYSE: [[ticker:OMC]]) announced today that its Diversified Agency Services business has bought Communispace, a Watertown, MA-based company that powers online communities that help marketers test ideas and gain consumer feedback. Financial terms of the deal were not disclosed in the press release, but Communispace CEO Diane Hessan … Continue reading “Omnicom Buys Communispace to Connect with Consumers”
EnterpriseDB Adds Another $6M
Bedford, MA-based EnterpriseDB, a provider of database management software that can run on cloud computing systems, has added another $6.1 million to its most recent equity- and rights-based based funding round, bringing the financing’s total to $13.6 million, accorded to an amended regulatory document. EnterpriseDB revealed it had raised the first $7.5 million of the … Continue reading “EnterpriseDB Adds Another $6M”
BG Medicine Goes Public at $7 Per Share
Waltham, MA-based BG Medicine (NASDAQ: [[ticker:BGMD]]) started trading publicly today at $7 per share. After indicating earlier in the week that it had planned to offer 4.75 million shares in its initial public offering, the diagnostics company sold 5 million shares. Lazard Capital Markets acted as sole book-running manager for the deal, and underwriters will have … Continue reading “BG Medicine Goes Public at $7 Per Share”
Genocea Announces New CEO, Pfizer to Add Jobs In MA, Ocular Raises $14M, and More Boston-Area Life Sciences News
We saw a mix of meaty pieces on company strategies and outlooks, as well as breaking news on funding for Boston’s life sciences companies. —Ryan took a look at Cambridge, MA-based drug developer Molecular Insight Pharmaceuticals (and neighbor to Xconomy) as it navigates Chapter 11 bankruptcy protection, which it filed for in December. The firm, … Continue reading “Genocea Announces New CEO, Pfizer to Add Jobs In MA, Ocular Raises $14M, and More Boston-Area Life Sciences News”
Boston-Power Hires New CEO; Founder Lampe-Onnerud Says She’s Excited By Move
Boston-Power, a Westborough, MA-based advanced lithium-ion battery developer, announced it has brought on Keith Schmid as its new chief executive. He replaces CEO and founder Christina Lampe-Onnerud, who will move to the position of executive chairman. Schmid comes most recently from Power Distribution, a Virginia-based provider of electrical power distribution equipment and services that saw … Continue reading “Boston-Power Hires New CEO; Founder Lampe-Onnerud Says She’s Excited By Move”
Vitality Acquired By Healthcare Investor Soon-Shiong, Looks to Expand Wireless Products for Improving Healthy Behaviors
Cambridge, MA-based health IT firm Vitality announced today that it has been snapped up by a healthcare industry veteran and angel investor, Dr. Patrick Soon-Shiong. The acquisition, whose dollar value was not made public, will help Vitality expand its product line of wireless devices focused on encouraging healthy behavior, and better target insurance companies and … Continue reading “Vitality Acquired By Healthcare Investor Soon-Shiong, Looks to Expand Wireless Products for Improving Healthy Behaviors”
NaviSite Bought by Time Warner for $230M
Andover, MA-based NaviSite (NASDAQ: [[ticker:NAVI]]) , an provider of IT services such as data hosting and managing for large organizations, will be acquired by Time Warner Cable for $5.50 per share in cash, for a total equity value of $230 million, the companies announced last night. Time Warner (NYSE: [[ticker:TWC]]) said that NaviSite’s cloud platform … Continue reading “NaviSite Bought by Time Warner for $230M”
EnerNOC Acquires M2M, H3 Launches With Eisai Funding, Genzyme Talks With Sanofi Advance, & More Boston-Area Deals News
Deals news this week spanned the cleantech, IT, and life sciences fields, and involved startup financing, acquisitions, and new company launches. —Boston-based energy management firm EnerNOC (NASDAQ: [[ticker:ENOC]]) announced it had bought M2M Communications, a Boise, ID-based wireless technology company that works with energy utilities in the Midwest and California. EnerNOC said it paid $30 million … Continue reading “EnerNOC Acquires M2M, H3 Launches With Eisai Funding, Genzyme Talks With Sanofi Advance, & More Boston-Area Deals News”
BG Medicine Cuts IPO Target
Waltham, MA-based BG Medicine has again adjusted its plans for an initial public offering, this time aiming to raise about $33.3 million, roughly half of what it was shooting for last year. The diagnostics company revealed in a regulatory filing today that it is aiming to price a 4.75-million-share initial public offering at $7 per … Continue reading “BG Medicine Cuts IPO Target”
Genzyme Lets Sanofi Conduct Due Diligence
Cambridge, MA-based biotech Genzyme (NASDAQ: [[ticker:GENZ]]) announced that its board has authorized the company to enter into a confidentiality agreement with Sanofi-Aventis to allow the firm to conduct due diligence on Genzyme, as part of Sanofi’s pursuit to purchase the biotech company. Genzyme has previously turned down Sanofi’s $18.5 billion ($69-per-share tender offer), but today’s … Continue reading “Genzyme Lets Sanofi Conduct Due Diligence”
CloudTP Comes Out of Stealth, With $1M in Equity Seed Funding, to Help Big Companies Move Data to Their Own Private Clouds
Serial IT entrepreneur Chris Greendale is taking a crack at another company, which is involved in what he calls “carbon reduction by cloud computing. It’s not exactly the most commonly thought of means to sustainability, but his new firm, Boston-based CloudTP, is focused on helping firms reduce the need for their own physical data centers … Continue reading “CloudTP Comes Out of Stealth, With $1M in Equity Seed Funding, to Help Big Companies Move Data to Their Own Private Clouds”
New Oncology R&D House H3 Biomedicine Launches in Cambridge, With Eisai Support
A new cancer treatment R&D operation is starting up in Cambridge, MA, based on the work of Broad Institute of Harvard and MIT founding members Stuart Schreiber and Todd Golub. H3 Biomedicine announced it has launched to develop treatments tailored to patients’ cancers, as part of a partnership with the U.S. unit of the Japanese … Continue reading “New Oncology R&D House H3 Biomedicine Launches in Cambridge, With Eisai Support”
Washington Startups See Spike in Investing Dollars in December
Washington startups must have been good this year, because they sure did nab some serious dollars come holiday time. The state’s tech and life sciences companies collected a total of $69.4 million across 17 equity-based financings, nearly triple November’s funding pot, according to data on venture, angel, and growth equity financing provided by CB Insights … Continue reading “Washington Startups See Spike in Investing Dollars in December”
Clinical Data Stock Soars on FDA Approval, Amgen Buys BioVex, Stromedix Raises $2M, & More Boston-Area Life Sciences News
We saw news of regulatory approvals, acquisitions, financings, and an even a new venture group surrounding Boston’s life sciences firms this week. —A European Medicines Agency committee advised against approval of fampridine (Fampyra), Weston, MA-based Biogen Idec’s drug for improving multiple sclerosis patients’ ability to walk. Biogen (NASDAQ: [[ticker:BIIB]] says it will appeal the opinion. … Continue reading “Clinical Data Stock Soars on FDA Approval, Amgen Buys BioVex, Stromedix Raises $2M, & More Boston-Area Life Sciences News”
Skyhook Motion For Preliminary Injunction Shot Down in Lawsuit Against Google; CEO Still Hopeful in Case
Boston-based mobile software maker Skyhook Wireless hasn’t been able to prevent Google from setting rules that Skyhook says shut its location-finding technology out of phones running the Android platform—not yet, anyway. Last September, the startup filed a lawsuit in Massachusetts’ Suffolk County Superior Court against Mountain View, CA-based Google, claiming that the company had interfered … Continue reading “Skyhook Motion For Preliminary Injunction Shot Down in Lawsuit Against Google; CEO Still Hopeful in Case”
LiquidPiston Soaks Up $5M
LiquidPiston, a Blooomfield, CT-based engine developer, announced today that it has raised $5 million in a Series B round of funding. The money comes from Northwater Capital and Adams Capital Management, and a group of angel investors it did not name. LiquidPiston is developing what it says is the first naturally aspirated (an internal combustion … Continue reading “LiquidPiston Soaks Up $5M”
Myriant Gets $60M, BioVex Bought By Amgen, Raindance Wraps Up $37.5M, & More Boston-Area Deals News
The past week has been all about reflecting on venture data from Q4 2010, but we also spotted some new financings, partnership deals, and acquisitions for New England’s tech and life sciences firms. —Well, we did write about the top 10 venture deals in the Boston area from last quarter, based on data the MoneyTree … Continue reading “Myriant Gets $60M, BioVex Bought By Amgen, Raindance Wraps Up $37.5M, & More Boston-Area Deals News”
TiE Boston Announces Angel Investing Group
There’s a new angel investing group in town, and this one is tied to a global organization supporting entrepreneurship. TiE Boston, the local chapter of The Indus Entrepreneurs, announced today that it has launched TiE Angels to provide funding for early-stage startups in New England. The group says it will put up to $500,000 into … Continue reading “TiE Boston Announces Angel Investing Group”
Bay State Startups Bring in $192M in December, Industrial Companies Squeeze Healthcare Sector Out of the Top Fundraising Spot
[Corrected 1/25/11, 12:40 pm. See below.]Good news and bad news for the state’s startups when it comes to dollars raised last month. Tech and life sciences firms overall collected a bigger chunk of change than the month before, but the healthcare sector, which typically leads the pack, yielded the top spot to the industrial sector. … Continue reading “Bay State Startups Bring in $192M in December, Industrial Companies Squeeze Healthcare Sector Out of the Top Fundraising Spot”
Xtalic Adds $8M
Xtalic, a Marlborough, MA-based maker of nanostructured alloy coatings for electronics components, has raised $8 million in equity-based funding, according to an SEC filing. The funding comes from eight investors, according to the document. In 2008 Xtalic raised $10 million in Series B funding, with investments from North Bridge Venture Partners and Matrix Partners.
EcoMotors Founder Peter Hofbauer Says Company Is Inking Customer Deals, Eyeing Production Facility in Michigan for Its “Opoc” Engine
Peter Hofbauer spent nearly a decade in advanced propulsion system research and nearly another decade in power train development at Volkswagen. After creating and developing the automaker’s first diesel engine, he was ready to relax. “In 1997, I moved to Santa Barbara, CA, and my main idea was to retire—and that did not work,” says … Continue reading “EcoMotors Founder Peter Hofbauer Says Company Is Inking Customer Deals, Eyeing Production Facility in Michigan for Its “Opoc” Engine”
Vertex Drug Gets Speedy FDA Review, BSX Buys Atritech, Ironwood Strikes Another Deal, & More Boston-Area Life Sciences News
We saw some meaty stories on FDA drug approval processes, new collaborations, acquisitions, and hires for Boston’s life sciences firms. —Pfizer’s former chief of licensing Ed Harrigan started a new gig as CEO of stealthy Boston biotech Karuna Pharmaceuticals, a PureTech Ventures-incubated startup that is quietly working on schizophrenia drugs. —Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]) of … Continue reading “Vertex Drug Gets Speedy FDA Review, BSX Buys Atritech, Ironwood Strikes Another Deal, & More Boston-Area Life Sciences News”
Unitask Is Out to Cut Consulting Costs With Apps for Oracle Business Software
The founders of Unitask aren’t afraid of change. They started a consulting company in Israel, and have since moved to Cleveland, OH, and most recently Bloomfield Hills, MI. And they’ve transitioned their business from a services operation to a software developer. Israeli Navy veterans Michael Segev, Alex Protas, and Yechiel Tushia started their consulting firm … Continue reading “Unitask Is Out to Cut Consulting Costs With Apps for Oracle Business Software”
Isabella Products To Add Wireless USB and Children’s Tablet Device to Better Connect Families
[Corrected 1/20/11, 3:40 pm. See below.] Last spring, Isabella Products unleashed a two-way connected digital photo frame powered by a cellular modem. It was an attempt to modernize a product that’s basically remained the same over the last decade or so, taking the technology into the world of constant wireless connectivity that we’ve come to … Continue reading “Isabella Products To Add Wireless USB and Children’s Tablet Device to Better Connect Families”
InfoReady Brings in $250K
InfoReady, an Ann Arbor, MI-based developer of collaboration and workflow management software, announced today that it nabbed a $250,000 investment from Automation Alley, bringing its first-round funding to $1.1 million. The funding will go to sales, marketing, and new product rollouts for InfoReady, which is developing its software for clients who need to search relevant … Continue reading “InfoReady Brings in $250K”
Exit41 Adds New CEO
Andover, MA-based Exit41, a provider of social media-based platforms for online orders from restaurants, announced yesterday that it has brought on a new CEO, Chet Barnard. He’ll work on driving the company’s growth strategy, which includes strengthening relationships with restaurant customers and developing roadmaps for rolling out its social ordering system on an enterprise level, … Continue reading “Exit41 Adds New CEO”
SplinkMedia Platform Eyes Sponsorship Deals for Indie Artists
“Music has a way of making you an entrepreneur somehow,” says Ann Arbor, MI native Vaughan Taylor. He would know. He’s spent much of his time in the Michigan independent music scene, with his hip hop group The Athletic Mic League. Then he went the more scholarly route, getting his undergraduate degree at the University … Continue reading “SplinkMedia Platform Eyes Sponsorship Deals for Indie Artists”
NetApp Buys Akorri, Mascoma Nabs Deal With Valero, Sonian Gets Cash From Amazon, & More Boston-Area Deals News
We saw acquisitions, partnerships, and financings from tech and life sciences firms in New England this week. —Bloomberg News reported that Thermo Fisher Scientific (NYSE: [[ticker:TMO]]), a Waltham, MA-based provider of lab instruments and services, planned to sell two lab test units for a total of up to $1 billion. Those businesses include Athena Diagnostics … Continue reading “NetApp Buys Akorri, Mascoma Nabs Deal With Valero, Sonian Gets Cash From Amazon, & More Boston-Area Deals News”
GlassHouse Gets $5M From Citrix
Framingham, MA-based IT consulting firm GlassHouse Technologies has received a $5 million equity investment from Citrix Systems (NASDAQ: [[ticker:CTXS]]) in exchange for Series F preferred stock, according to a filing with the SEC. GlassHouse, which last year filed for an IPO worth up to $75 million, announced earlier this month that it had received an investment from … Continue reading “GlassHouse Gets $5M From Citrix”
Amazon Backs Sonian In $9M Deal
Sonian, a Needham, MA-based maker of cloud-powered e-mail archiving technology, announced today that it has raised $9 million in a Series B financing. The money comes from new strategic investors Amazon.com and Webroot Software, who joined existing Sonian backers Summerhill Venture Partners and Prism VentureWorks. Last month we reported that Sonian, which uses Amazon’s cloud technology … Continue reading “Amazon Backs Sonian In $9M Deal”
Sproxil Eyes VC Funding and New Customers for Its Technology for Fighting Medication Counterfeiting
Sproxil has been a bit of a darling of tech business plan competitions in the last six months. We first heard about the company, which started in Somerville, MA, and has developed technology to intercept medicine counterfeiters in developing nations, when it won IBM’s SmartCamp competition in June, taking home 12 weeks of mentoring from … Continue reading “Sproxil Eyes VC Funding and New Customers for Its Technology for Fighting Medication Counterfeiting”
Liprotamase Drug Slowed by FDA Panel
Eli Lilly (NYSE: [[ticker:LLY]]) announced today that an FDA advisory panel recommended that the agency not approve liprotamase, a pancreatic enzyme replacement therapy that Lilly acquired when it bought Cambridge, MA-based Alnara Pharmaceuticals last summer. The panel, whose recommendations the FDA is not required to follow, questioned the effectiveness of the drug and recommended that Lilly … Continue reading “Liprotamase Drug Slowed by FDA Panel”
Report: Sanofi To Up Genzyme Bid
French drug giant Sanofi-Aventis (NYSE: [[ticker:SNY]]), which has been courting Cambridge, MA-based Genzyme (NASDAQ: [[ticker:GENZ]]) with a buyout offer, could be willing to pay up to $76 per share for the biotech, according to reports by the French newspaper Le Figaro. Last month, Sanofi said it would give Genzyme until January 21st to accept its … Continue reading “Report: Sanofi To Up Genzyme Bid”
Rib-X Wrappes Up $20M, Oxford Closes $66M on Sixth Fund, Ocular Adds $6M, & More Boston-Area Life Sciences News
The big Nor’easter this week didn’t get in the way of big news from New England’s life sciences firms. —Civitas Therapeutics, a startup operating out of Alkermes’ (NASDAQ: [[ticker:ALKS]]) leased facility in Chelsea, MA, is working to commercialize inhaled drug delivery from Waltham, MA-based Alkermes. The firm has about $20 million in first-round funding to … Continue reading “Rib-X Wrappes Up $20M, Oxford Closes $66M on Sixth Fund, Ocular Adds $6M, & More Boston-Area Life Sciences News”