Boston-based energy efficiency startup Next Step Living announced it has pulled in $2.6 million in a first close of its Series B financing round, led by entrepreneur John McQuillan, who is president and CEO of environmental consulting firm Triumvirate Environmental. Existing investors Black Coral Capital and the Clean Energy Venture Group also participated in the … Continue reading “Next Step Living Gets $2.6M Series B, Steps Out Into Green Retrofitting and Remodeling Sector”
Author: Erin Kutz
New CEO for NaviSite
Andover, MA-based NaviSite (NASDAQ: [[ticker:NAVI]]), a provider of IT services such as data hosting, announced today that its CEO Arthur Becker has stepped down and will be replaced by NaviSite president R. Brooks Borcherding. Becker will remain on the company’s board and Borcherding, who joined NaviSite in 2009 from Cisco Systems, will occupy both the … Continue reading “New CEO for NaviSite”
Lycos Bought for $36M
Lycos, a Waltham, MA-based maker of online search and media tools, was bought for $36 million by Ybrant Digital, the companies announced today. Ybrant, a digital marketing company headquartered in India, purchased Lycos from Daum Communications, a Korea-based company that in 2009 reorganized Lycos, which had been one of the most trafficked and most profitable … Continue reading “Lycos Bought for $36M”
TradeStone’s Software Helps Retailers Pump Out Product Lines More Rapidly, Looks to Help Add Consumers to the Design Process
Boston is well known for its cluster of companies developing software for computer-aided design (CAD), and managing the lifecycle of a particular product (PLM). But Sue Welch says there’s a need for companies managing the development of not just individual products, but entire lines of merchandise. That’s the hole she’s looked to fill with her … Continue reading “TradeStone’s Software Helps Retailers Pump Out Product Lines More Rapidly, Looks to Help Add Consumers to the Design Process”
ThredUP Swaps Boston-Area Office for San Francisco; Leaving New England Has Tradeoffs, CEO Says
News hit yesterday that Cambridge, MA-based thredUP, an online platform for swapping used children’s clothing, will be packing up for San Francisco next month, as first reported on Scott Kirsner’s Innovation Economy blog. The company has signed a lease for a building near the city’s Union Square neighborhood starting in September, CEO James Reinhart says. … Continue reading “ThredUP Swaps Boston-Area Office for San Francisco; Leaving New England Has Tradeoffs, CEO Says”
How Lilly Let Telaprevir Go to Vertex, SV Focusing on Health IT With Latest Fund, Genzyme Isis Cholesterol Drug Shows Strong in Clinical Trial, & More Boston-Area Life Sciences News
The past week brought news of clinical trials and funding from drugmakers, as well as a look at venture investing strategy in health IT, and an update on the Genzyme-Sanofi buyout rumors. Catch up on those stories and more below: —With its recently closed $523 million fund, SV Life Sciences plans to put a greater … Continue reading “How Lilly Let Telaprevir Go to Vertex, SV Focusing on Health IT With Latest Fund, Genzyme Isis Cholesterol Drug Shows Strong in Clinical Trial, & More Boston-Area Life Sciences News”
Advanced Electron Beams, With DOE and VC Money in Tow, Tackles Air Pollution
Wilmington, MA-based Advanced Electron Beams is developing energy-efficient technology in a sector that typically doesn’t attract the same attention as hybrid cars or green buildings: industrial manufacturing. The company makes a device that CEO Mitch Tyson describes as a stainless-steel light bulb, which emits a cloud of high-speed electrons to produce a blue glow, replacing … Continue reading “Advanced Electron Beams, With DOE and VC Money in Tow, Tackles Air Pollution”
Boston-Power Expands Series E Round, Storwize Scooped Up By IBM, PerkinElmer Acquires VisEn, & More Boston-Area Deals News
In the last week, we’ve seen acquisitions in both the life sciences and IT spaces, as well as an IPO and startup funding. —Curt Schilling’s Maynard, MA-based video game company, 38 Studios, attracted $75 million in loan guarantees from the Rhode Island Economic Development Corporation, according to media reports. In exchange, the company has pledged … Continue reading “Boston-Power Expands Series E Round, Storwize Scooped Up By IBM, PerkinElmer Acquires VisEn, & More Boston-Area Deals News”
Appswell Powers iPhone App for GE Ecomagination Challenge in Cleantech
Cambridge, MA-based Appswell’s crowdsourced approach to mobile applications development is going green. The startup announced today it is powering the mobile app component for General Electric’s Ecomagination Challenge, a $200 million contest aimed at generating innovative ideas in renewable energy, smart grid technology, and eco-friendly building technology. Appswell, which describes itself as an “American Idol” … Continue reading “Appswell Powers iPhone App for GE Ecomagination Challenge in Cleantech”
Ascent Venture Partners Says Data Intelligence Is the Next Big Thing, Tech Startups Will Get Scooped Up Like Biotechs, and Bigger Isn’t Always Better
Boston-based Ascent Venture Partners seems to know what it’s good at. The firm, which started as a VC subsidiary of the Pioneer Group and went independent in 1999, has stayed faithful to its focus on early-stage IT companies. “We don’t try to redefine ourselves around every fund on what’s the flavor of the day,” Ascent … Continue reading “Ascent Venture Partners Says Data Intelligence Is the Next Big Thing, Tech Startups Will Get Scooped Up Like Biotechs, and Bigger Isn’t Always Better”
Conatus Gets Pfizer Subsidiary
Conatus Pharmaceuticals, a San Diego-based drug developer targeting liver disease and cancer, announced it has acquired Pfizer subsidiary Idun Pharmaceuticals for an undisclosed sum. Conatus was launched in 2005 by Idun execs after Pfizer acquired the firm, which at the time was developing liver disease treatments and oncology drugs, and held intellectual property in the … Continue reading “Conatus Gets Pfizer Subsidiary”
Azuki CEO Looking to Grow Mobile Software Business By Making it “Brainless”
Azuki Systems, an Acton, MA-based maker of software for helping video and other data-rich media content providers deliver their material through mobile devices, has announced that it hired a new president and CEO. Azuki‘s new leader is John Clancy, a cloud computing exec who most recently served as CEO-in-Residence at Schooner Capital in Boston. “I’m … Continue reading “Azuki CEO Looking to Grow Mobile Software Business By Making it “Brainless””
FDA Gives Nod to Momenta’s Anti-Clotting Generic, Ingenix Acquires Picis, Millennium Harnesses BioScale’s Protein-Measuring Technology, & More Boston-Area Life Sciences News
This week saw a long-awaited FDA approval for a Boston-area drug maker, speculation about a possible buyout of a local biotech giant, and some in-depth profiles on other key life sciences players. —Hospital software maker Picis, of Wakefield, MA, said it is being acquired by Ingenix, an Eden Prairie, MN-based healthcare intelligence and analytics firm. … Continue reading “FDA Gives Nod to Momenta’s Anti-Clotting Generic, Ingenix Acquires Picis, Millennium Harnesses BioScale’s Protein-Measuring Technology, & More Boston-Area Life Sciences News”
Storwize Bought By IBM
Storwize, a Marlborough, MA-based maker of technology for the real-time compression of data, has agreed to be acquired by IBM (NYSE: [[ticker:IBM]]). The companies did not reveal the financial terms of the deal, which is expected to close third quarter of this year, but previous press reports have priced the transaction in the neighborhood of … Continue reading “Storwize Bought By IBM”
Massachusetts Startup Investing Surges to $307M in June, Led by $60M Boston-Power Deal
It wasn’t just temperatures that were heating up in Massachusetts in June. Venture investing in the Bay State’s tech and life sciences startups soared to $307.1 million, brought in through 31 equity-based deals. For several months this spring, venture investing in the region hovered in the neighborhood of $200 million, according to data provided by … Continue reading “Massachusetts Startup Investing Surges to $307M in June, Led by $60M Boston-Power Deal”
Aircuity, Focused on “Not Using Energy You Don’t Need,” Tracks and Streamlines Building Ventilation
Given that the air system at Xconomy’s offices seems noisy and erratic most days, I wasn’t that surprised to hear that most buildings are over-ventilated (a bit of information I picked up from Aircuity president and chief operating officer Rob Brierley). But for businesses running their air systems on overload, this can be more than … Continue reading “Aircuity, Focused on “Not Using Energy You Don’t Need,” Tracks and Streamlines Building Ventilation”
New CEOs For Boston-Area Mobile Companies
We tracked a duo of new CEO announcements today, both at companies in the mobile sector. —Aylus Networks, a Westford, MA-based developer of technology to help mobile operators manage video data on their networks, announced Mark Edwards will be joining the company as CEO. Edwards comes from the helm of mobile device management software company … Continue reading “New CEOs For Boston-Area Mobile Companies”
JAZD Gets $4M
JAZD Markets, an Andover, MA-based startup developing an online business-to-business marketing platform powered by directories, has pulled in a $4 million equity round from four investors, according to an SEC filing. The company raised $8 million in equity-based funding in 2008, and its website names Commonwealth Capital Ventures and Pilot House Ventures as investors. The … Continue reading “JAZD Gets $4M”
Oclaro Buys Mintera, Gazelle Gets $12M, Genzyme Buyout Rumors Swirl, & More Boston-Area Deals News
Acquisitions were a big theme in the New England-area deal news this past week. We also saw several funding rounds and an intellectual property deal. —Providence, RI-based Alektrona, a maker of smart-grid software and hardware, grabbed $250,000 in funding from the Slater Technology Fund, also of Providence. The money comes as part of a $510,000 … Continue reading “Oclaro Buys Mintera, Gazelle Gets $12M, Genzyme Buyout Rumors Swirl, & More Boston-Area Deals News”
38 Studios R.I. Move Confirmed
38 Studios, the Maynard, MA-based video game company started by former Red Sox pitcher Curt Schilling, has confirmed that it will be moving its headquarters to Rhode Island, according to a report in the Boston Globe. The gaming company attracted a $75 million loan guarantee from the Rhode Island Economic Development Corporation, and has said … Continue reading “38 Studios R.I. Move Confirmed”
Vlingo Buys Patents from Bellevue-based Intellectual Ventures As Defense In Nuance Lawsuit—Hopes for “Horse Trade”
Vlingo, a Cambridge, MA-based provider of voice-to-text software, has taken a defensive move to help protect it against a lawsuit filed by speech software giant Nuance Communications, announcing a deal today with Intellectual Ventures that adds a slew of intellectual property to its arsenal. Vlingo has purchased several patents from Bellevue, WA-based Intellectual Ventures that … Continue reading “Vlingo Buys Patents from Bellevue-based Intellectual Ventures As Defense In Nuance Lawsuit—Hopes for “Horse Trade””
Taris Hires New CEO, Stromedix Hopes Clinical Trial Will Advance, Euthymics Hits the Ground With Series A, & More Boston-Area Life Sciences News
We saw a number of lesser-known New England-area biotechs surface with funding announcements, as well as feature stories looking at company strategies and drug development trends. —Inverness Medical Innovations, a Waltham, MA-based maker of consumer diagnostic tests and disease management tools, announced it had changed its name to Alere, and shifted its stock symbol on … Continue reading “Taris Hires New CEO, Stromedix Hopes Clinical Trial Will Advance, Euthymics Hits the Ground With Series A, & More Boston-Area Life Sciences News”
38 Studios Reveals First Video Game at San Diego’s Comic-Con
Veteran Red Sox pitcher Curt Schilling is unveiling the first game put out by the Maynard, MA-based video game company he founded, 38 Studios, at the San Diego entertainment festival Comic-Con today. The single-player game, called “Kingdoms of Amalur: Reckoning,” is based on the fantasy novels of author R.A. Salvatore. It was previously kept under … Continue reading “38 Studios Reveals First Video Game at San Diego’s Comic-Con”
Terascala Raises $500K, Gears Up for Series B—and Shift to Storage Software Business
Terascala, an Avon, MA-based maker of high-capacity data storage systems, popped up on our radar this week when an SEC filing revealed the company had raised $500,000 in options and warrants-based funding, out of a round that could total $2 million. The company, founded in 2005, has transitioned from a hybrid business selling both computing … Continue reading “Terascala Raises $500K, Gears Up for Series B—and Shift to Storage Software Business”
Electronics Trade-In Service Gazelle Grabs $12M Series C to Meet Customer Growth
Boston-based Gazelle, which dubs itself as a “reCommerce service,” announced it has raised $12 million in Series C funding, led by Physic Ventures. Existing Gazelle investors Venrock Associates and RockPort Capital Partners are also participating in the third round financing. Gazelle, which is powered by the company Second Rotation, helps consumers sell used electronics in … Continue reading “Electronics Trade-In Service Gazelle Grabs $12M Series C to Meet Customer Growth”
XL Hybrids Gets $300K, BP Acquires Verenium’s Cellulosic Biofuels Business, NE Q2 Venture Investing Slims Down, & More Boston-Area Deals News
We saw news of both acquisitions and fundraising rounds for New England companies in the clean tech, IT, and biotech sectors. —XL Hybrids, a Somerville, MA-based startup developing technology for retrofitting vehicles with hybrid elements, raised $300,000 from an undisclosed fund. The newest cash puts the cleantech company’s seed funding total at $1.8 million. —Westford, … Continue reading “XL Hybrids Gets $300K, BP Acquires Verenium’s Cellulosic Biofuels Business, NE Q2 Venture Investing Slims Down, & More Boston-Area Deals News”
DirectoryM Changes Name to nSphere, Highlights Data-Aggregating Focus
Boston-based DirectoryM hasn’t been living up to its name for a few years now, and the company is re-branding itself today with the name nSphere. Its aim is “connecting databases and making them available to users searching for information online,” says chief operating officer Jean-Eric Penicaud. The company’s technology pulls information from about 10,000 databases … Continue reading “DirectoryM Changes Name to nSphere, Highlights Data-Aggregating Focus”
Surface Logix Grabs $4M
Surface Logix, a Brighton, MA-based developer of drugs for obesity and diabetes, pulled in $4 million in an offering of equity, options, and warrants that could total $4.6 million, according to an SEC filing. The startup, which launched in 2001 with technology from Harvard chemist George Whitesides, raised $20 million in Series E funding last … Continue reading “Surface Logix Grabs $4M”
Inverness Name Change to Alere
Waltham, MA-based Inverness Medical Innovations (NYSE: [[ticker:IMA]]), a maker of consumer diagnostic tests and a provider of disease management services, announced it has changed its name to Alere. Shareholders approved the name change at the company’s annual stockholder meeting on Wednesday. The life sciences company also said it expects to change its stock symbol on … Continue reading “Inverness Name Change to Alere”
Adimab Inks Novartis Deal, GSK-Founded Tempero Pursues Hot Immunology Field, Metamark Gets $22M, & More Boston-Area Life Sciences News
This week we ran several meaty profiles spotlighting strategies of New England biotech companies powered by some big life sciences players. —Lebanon, NH-based Adimab struck a research deal with Novartis, in which the startup will use its technology to discover antibodies that could potentially be used in drugs against two undisclosed diseases that Novartis chooses … Continue reading “Adimab Inks Novartis Deal, GSK-Founded Tempero Pursues Hot Immunology Field, Metamark Gets $22M, & More Boston-Area Life Sciences News”
Biofuels Reboot: Verenium Sells Cellulosic Biofuels Business to BP for $98M, Includes San Diego R&D Facilities
[[Updated: 2:15 pm, 7/15/10]] Looking to get out from under ongoing financial losses and focus on new growth opportunities, Cambridge, MA-based Verenium has struck a deal to sells its cellulosic biofuels business for $98.3 million in cash to BP, the energy giant at the center of the oil spill crisis in the Gulf of Mexico. … Continue reading “Biofuels Reboot: Verenium Sells Cellulosic Biofuels Business to BP for $98M, Includes San Diego R&D Facilities”
Location, Inc. Releases New Kind of Real Estate Reports, With Aims to Be the Carfax of Neighborhoods
Location, Inc., a provider of online real estate research tools, launched in 2002 with the intent to objectively measure which neighborhoods are the best fit for a particular customer, based on criteria such as school quality, crime rates, home appreciation values, and the prominence of upwardly mobile singles. The housing matchmaker service has been available … Continue reading “Location, Inc. Releases New Kind of Real Estate Reports, With Aims to Be the Carfax of Neighborhoods”
EnterpriseDB Gets $7.5M
[Updated. 9:26 am Eastern time on 9/02/10. See below] EnterpriseDB, a Westford, MA-based provider of database management software that can run on cloud computing systems, has raised $7.5 million of a round of equity, options, and warrants to expand its product and marketing operations. The round could eventually total $12 million, an SEC filing revealed. … Continue reading “EnterpriseDB Gets $7.5M”
ThredUP Funded by New Micro VC Firm, Visterra Grabs $6M, Vivox Gets $2M From Peacock Equity, & More Boston-Area Deals News
It was another busy week with news of funding rounds for young startups, especially in the e-commerce and drug spaces. —Woburn, MA-based Bio2 Technologies sold $1.1 million of an equity offering that could total $2 million. The company is developing tissue-engineering scaffolds for applications in orthopedics, and has licensed its technology from Geo2 Technologies, another … Continue reading “ThredUP Funded by New Micro VC Firm, Visterra Grabs $6M, Vivox Gets $2M From Peacock Equity, & More Boston-Area Deals News”
38 Studios Considers RI Move
38 Studios, the video game company founded by former Red Sox pitcher Curt Schilling, is considering moving its Maynard, MA, headquarters to Rhode Island, the Associated Press reported. The company is set to meet on Thursday with the Rhode Island Economic Development Corporation, to discuss a proposal offering up to $75 million in loan guarantees … Continue reading “38 Studios Considers RI Move”
Highland Backs Beyond the Rack
Highland Capital Partners, a venture firm with offices in Lexington, MA and Silicon Valley, joined BDC Venture Capital in a $12 million funding round for Montreal, Canada-based Beyond the Rack, TechCrunch reported on Friday. Beyond the Rack is an Internet startup that offers members-only sales on designer items, usually lasting only a few days. Highland has … Continue reading “Highland Backs Beyond the Rack”
Gtrot, Looking to Create Social Travel Guides, Better Maps Friends’ Globetrotting Plans
While on his college spring break in Cancun in 2009, Zachary Smith ran into about a dozen other friends he didn’t know would be there. “The ability to coordinate that ahead of time would have really enriched my travel experience,” says Smith, who graduated from Harvard University last year. That experience provided the inspiration for … Continue reading “Gtrot, Looking to Create Social Travel Guides, Better Maps Friends’ Globetrotting Plans”
AlloCure Arrives in New England, Merck Shutters Cambridge Research Site, Infinity Cuts Deal With Intellikine, & More Boston-Area Life Sciences News
It was a shorter week, but we had a heavy volume of headlines on acquisitions, partnerships, job cuts, and company strategies for New England-area biotech names. —Cambridge’s Alnara Pharmaceuticals kicked off the holiday weekend last Friday with news that it been acquired by Indianapolis-based pharma giant Eli Lilly. The companies didn’t disclose the purchase price … Continue reading “AlloCure Arrives in New England, Merck Shutters Cambridge Research Site, Infinity Cuts Deal With Intellikine, & More Boston-Area Life Sciences News”
Merck to Close Kendall Site
Merck (NYSE: [[ticker:MRK]]) announced plans to shutter its research site in Cambridge, MA’s Kendall Square neighborhood alongside seven other research facilities worldwide over the next two years. It will also phase out another eight manufacturing sites, as part a restructuring plan that follows its November 2009 merger with Schering-Plough. Some of the Kendall Square research … Continue reading “Merck to Close Kendall Site”
Cambridge Semantics, Looking to Put Microsoft Excel “On Steroids,” Brings Intelligent Data Sorting to Non-Techies
Semantic technology—a broad term in the software industry for adding meaning to pieces of information so they can more efficiently interact with each other—is seen as a useful vehicle for helping businesses sort through data relevant to their everyday operations. The problem is, IT guys are typically those who have the most access to and … Continue reading “Cambridge Semantics, Looking to Put Microsoft Excel “On Steroids,” Brings Intelligent Data Sorting to Non-Techies”
ThredUP Pulls in $1.4M
Cambridge, MA-based thredUP, an online startup helping parents swap used children’s clothing, said it has raised $1.4 million in Series A-1 funding, led by Menlo Park, CA-based Trinity Ventures. Founder Collective, High Line Ventures, and NextView Ventures also contributed to the financing, which will go to refining the company’s product and hiring staff in engineering … Continue reading “ThredUP Pulls in $1.4M”
Google Pays $700M for ITA, Eli Lilly Buys Alnara, Skyhook Lands Samsung Partnership, & More Boston-Area Deals News
We saw news of several local acquisition deals by technology powerhouses in the past week. —Watertown, MA-based Dicerna Pharmaceuticals, a developer of RNA interference drugs, raised $5 million in an offering of debt and options. The startup previously raised $21.4 million in Series A funding from Abingworth Management, Skyline Ventures, and Oxford Bioscience Partners. Former … Continue reading “Google Pays $700M for ITA, Eli Lilly Buys Alnara, Skyhook Lands Samsung Partnership, & More Boston-Area Deals News”
$25M Stock Sale for Beacon Power
Beacon Power, a Tyngsboro, MA-based flywheel energy storage company, announced an agreement to sell up to $25 million worth of its common stock to Aspire Capital Fund over a 26-month term, starting July 2. Chicago-based Aspire Capital has already purchased about 1.5 million shares of Beacon Power (NASDAQ: [[ticker:BCON]]) stock for $500,000. Under the stock sale … Continue reading “$25M Stock Sale for Beacon Power”
Biogen Names CEO, Glaser Leaves Partners, SV Closes $523M Fund, & More Boston-Area Life Sciences News
We’ve seen some big executive moves, funding announcements, and strategy updates at New England area life sciences firms this week. —A blog post revealed Partners HealthCare chief information officer John Glaser would be living his role to become CEO of the hospital software division of Siemens, who confirmed the report later Monday afternoon. The news … Continue reading “Biogen Names CEO, Glaser Leaves Partners, SV Closes $523M Fund, & More Boston-Area Life Sciences News”
Second Wind, Looking to Boost Wind Farm Productivity, Logs Millionth Hour of Data Captured on Which Way the Wind Blows
Somerville, MA-based Second Wind started with the intention of measuring which way the wind blows. And in the last few years, it has learned that there’s more than one reason to do that. The company formed in 1980 with the aim of collecting wind data to determine which sites were ideal for developing wind farms. … Continue reading “Second Wind, Looking to Boost Wind Farm Productivity, Logs Millionth Hour of Data Captured on Which Way the Wind Blows”
BIND Gets Backed by J&J Veteran’s VC Firm, SV Life Sciences Closes Fifth Fund, Boston Power Raises $60M, & More Boston-Area Deals News
We’ve seen investments in software, energy, and life sciences companies in the last week, plus the closing of a big investment fund for a healthcare-focused venture firm. —Extreme Reach, a maker of software for delivering and tracking video advertisements across multiple platforms, wrapped up a $9 million Series B funding round. Village Ventures led the … Continue reading “BIND Gets Backed by J&J Veteran’s VC Firm, SV Life Sciences Closes Fifth Fund, Boston Power Raises $60M, & More Boston-Area Deals News”
Everyday Raises $2.8M
Everyday Solutions, an Acton, MA-based provider of GPS-powered software and hardware for monitoring school buses, has wrapped up $2.8 million in equity-based funding, according to an SEC filing. The company, whose technology tracks the location of vehicles and helps map when and where students were dropped off, lists its investors as Ascent Venture Partners, Flagship … Continue reading “Everyday Raises $2.8M”
Sonicbids, Run by Former Music Talent Agent, Brings Band Gig-Booking Into the Digital Age, Adds San Francisco Presence
After graduating from Berklee College of Music in the mid 1990s, Panos Panay started working at a music talent agency in Boston’s Allston neighborhood, and was eager to book his first tours. So eager that he mailed bands’ press kits across the globe and incurred an Airborne Express shipping bill in excess of $4,000 one … Continue reading “Sonicbids, Run by Former Music Talent Agent, Brings Band Gig-Booking Into the Digital Age, Adds San Francisco Presence”
Blu Homes Brings in $7M
Blu Homes, a Waltham, MA-based startup in the green building space, has raised $6.9 million in an equity offering, according to an SEC filing. The company reported the financing earlier last month in a press release, and we also wrote about the deal in our roundup of investments in Massachusetts startups last month. Blu Homes’ … Continue reading “Blu Homes Brings in $7M”
New England’s Under-the-Radar List: 19 Startup Financings in May You Probably Haven’t Heard About
As temperatures warmed up in New England in the month of May, so did smaller startup investments. There were 19 financings worth less than $1 million last month, and they went to companies spanning the medical devices, social media, energy, and software spaces. (A huge jump from April, when we rounded up seven such deals … Continue reading “New England’s Under-the-Radar List: 19 Startup Financings in May You Probably Haven’t Heard About”