You can’t win them all, but you can sure win a few. Ask C-Crete Technologies, the winner of the MIT $100K Entrepreneurship Competition this year. Team founder Rouzbeh Shahsavari, a MIT civil engineering PhD candidate, also won the Elevator Pitch Contest segment of the $100K in November for his 60-second pitch of his technology, which … Continue reading “C-Crete Wins MIT $100K for Making Cleaner Concrete”
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.
General Compression Gets $3M
General Compression, a Newton, MA-based developer of technology for using compressed air to store energy from wind turbine systems, announced it has wrapped up another $3 million in Series A financing, bringing the round’s total to $20.9 million. The newest tranche comes from the Northwater Intellectual Property Fund, managed by Northwater Capital Management, a private … Continue reading “General Compression Gets $3M”
Sanofi-Aventis Backs Mass Life Sciences Center, Redline Raises $7.45M, Swipely Launches with $7.5M, & More Boston-Area Deals News
We saw a few contributions in the life sciences sector, but for the most part, Internet and software companies have been dominating with deals headlines in the last week. —Ariad Pharmaceuticals (NASDAQ: [[ticker:ARIA]]) got $69 million in cash from Merck, for revising a 2007 agreement with a unit of the drug giant. The revisions give … Continue reading “Sanofi-Aventis Backs Mass Life Sciences Center, Redline Raises $7.45M, Swipely Launches with $7.5M, & More Boston-Area Deals News”
$2M for MaxVision
MaxVision Holdings, a Boston-based maker of rugged portable computer workstations and servers, has raised a $2 million round of equity-based funding, an SEC filing shows. The document lists partners from Boston’s Riverside Partners as directors of MaxVision, which raised $6.5 million in an equity offering in 2007.
Wiggio Wraps Up $2M
Wiggio, a Cambridge, MA-based maker of online groupware for college students, has raised $1.95 million in equity-based funding, according to an SEC filing. The company wasn’t available for comment at press time, but the filing lists Stephen Marcus and Thanasis Delistathis of New Atlantic Ventures as Wiggio directors. Wade profiled Wiggio in 2008, when he … Continue reading “Wiggio Wraps Up $2M”
New CEO for PTC
Parametric Technology (NASDAQ: [[ticker:PMTC]]), a Needham, MA-based maker of engineering and product development software that goes by PTC for short, announced that its president and chief operating officer James Heppelmann will replace C. Richard Harrison as CEO, effective October 1, 2010. Harrison will take on the role of executive chairman of PTC. Heppelmann joined the … Continue reading “New CEO for PTC”
Redline Brings in $7.45M
Woburn, MA-based Redline Trading Solutions, a maker of software that delivers financial market data to trading applications at high speed, has raised a $7.45 million round of equity-based funding from five investors, according to an SEC filing. The document reveals that $730,249 of the round will go to repurchasing 55,280 shares of common stock held … Continue reading “Redline Brings in $7.45M”
WordStream Hooks $6M Series B
WordStream, a Boston-based maker of software for improving search engine optimization and pay-per-click online marketing, has raised $6 million in Series B funding from Egan-Managed Capital and Sigma Partners. The startup, which also added Egan-Managed Capital partner Frank Andrasco to its board, says it will use the funding for growth and expansion of its products. … Continue reading “WordStream Hooks $6M Series B”
Dassault Enters Electronic Medical Records Space
ENOVIA, the Lowell, MA-based brand of product lifecycle management software maker Dassault Systèmes, is entering the electronic medical records space. The company announced a partnership with app developer echoBase, who will combine Dassault’s ENOVIA online collaboration and data management software with echoBase’s Resonate iPhone application, to enable sharing patient data between doctors, pharmacies, hospitals, and … Continue reading “Dassault Enters Electronic Medical Records Space”
InstallFree Grabs $3M
Stamford, CT-based InstallFree, an application virtualization software company, has raised $3 million of a planned $3.76 million equity offering, according to an SEC filing. The filings lists Richard Fade of Ignition Partners, Peter van Oppen of Trilogy Partnership, and Microsoft veteran Yuval Neeman as InstallFree directors. In 2008, the company raised an $8.5 million Series … Continue reading “InstallFree Grabs $3M”
$500K Series A for DormNoise
DormNoise.com, a Cranston, RI-based maker of online interactive calendar systems for college students, announced that it has raised $500,000 in Series A funding. The financing, which was led by DN Ventures (an investing venture group formed by DormNoise director Alan Jacober) and online medical education and social networking company PRESENT e-Learning Systems, will go to … Continue reading “$500K Series A for DormNoise”
Icahn Blasts Genzyme Manufacturing, Glaxo Halts “Red Wine” Drug Trial, Ariad Gets $69M from Merck, & More Boston-Area Life Sciences News
News surrounding Genzyme’s ongoing battle with billionaire investor Carl Icahn cropped up this week, alongside headlines from other big biotechs and in-depth profiles on newer life sciences names in the New England area. —Luke caught up with the chief scientist and the co-founder of Cambridge, MA-based Proteostasis Therapeutics, which was built around research from the … Continue reading “Icahn Blasts Genzyme Manufacturing, Glaxo Halts “Red Wine” Drug Trial, Ariad Gets $69M from Merck, & More Boston-Area Life Sciences News”
$2B Stock Buyback for Genzyme
Cambridge, MA-based biotech giant Genzyme (NASDAQ: [[ticker:GENZ]]) announced today that its board voted to initiate a $2 billion stock repurchase plan to boost the stock price. The company plans to spend $1 billion to buy back shares in the near term, to finance the purchases with debt, and then spend another $1 billion in the … Continue reading “$2B Stock Buyback for Genzyme”
Camiant Acquired for $130 Million
Camiant, a Marlborough, MA-based developer of technology that manages applications on mobile and broadband networks, will be acquired by Morrisville, NC-based mobile data management company Tekelec for $130 million, the companies announced today. The deal with Camiant, whose website lists its investors as North Bridge Venture Partners, Matrix Partners, and Pilot House Ventures, is expected … Continue reading “Camiant Acquired for $130 Million”
Dympol Uses Targeted Advertising to Cut Online Music Costs
Consumer brands have long employed celebrities to build their brands, but this may not be the most effective way of targeting consumers, says Jay Ziskrout, founder and CEO of Dympol, a Vermont and Cambridge, MA-based startup. “Is just being co-located with the entertainment enough for the magic to rub off on the brand?” asks Ziskrout, … Continue reading “Dympol Uses Targeted Advertising to Cut Online Music Costs”
Eliza Speech Recognition Technology Out to Make Healthcare Communication Sexier
It’s no surprise that many aspects of the healthcare system are deemed broken. But Beverly, MA-based Eliza is targeting a segment of the healthcare business that draws far less attention than the usual big ticket subjects like health insurance coverage or Medicare reimbursement codes. Eliza uses a software-as-a-service model to deliver interactive communications for insurance … Continue reading “Eliza Speech Recognition Technology Out to Make Healthcare Communication Sexier”
Idenix Prices Stock Offering, Google Ventures Reveals Investments, Sophos Sells Stake to Apax, & More Boston-Area Deals News
Google pulled off the veil this week to reveal the portfolio companies in its two-year-old venture fund. Add that to a flurry of startup funding rounds, a stock sale, and an acquisition transaction, and it’s made for a busy deals news week for us in New England. —Management Health Solutions, a Fairfield, CT, maker of … Continue reading “Idenix Prices Stock Offering, Google Ventures Reveals Investments, Sophos Sells Stake to Apax, & More Boston-Area Deals News”
Nimbit Drums Up $377K
Nimbit, a Framingham, MA-based provider of online music marketing services, has raised $376,950 to cap off a $1.75 million round of Series A-1 funding, says CEO Bob Cramer. The new funding included backing from the CommonAngels group, in addition to LaunchCapital and Mike Dreese, co-founder and CEO of the Boston-area music and entertainment retailer Newbury … Continue reading “Nimbit Drums Up $377K”
Sophos Sells Majority Stake to Apax to Fuel Growth
Sophos, a Burlington, MA-based maker of IT security software and hardware, announced its plans to sell a majority stake to private equity firm Apax Partners. The transaction values Sophos at $830 million, and will leave the company founders remaining as significant minority stakeholders in the company. Sophos had been exploring different avenues for entering a … Continue reading “Sophos Sells Majority Stake to Apax to Fuel Growth”
$6M in New Funding for Exit41
Exit41, an Andover, MA-based maker of software that captures takeout, delivery, and catering orders at restaurants, has been recapitalized with $6 million in new funding, erasing previous venture investments of more than $20 million, the blog peHUB reported on Friday. The company was not available for comment at press time, but the peHUB report says … Continue reading “$6M in New Funding for Exit41”
$2.35M for Incentive Targeting
Woburn, MA-based Incentive Targeting, a provider of Web-based behavioral marketing services for grocery stores, announced it has pulled in a second close of its Series A round of funding, bringing the total to $2.35 million. The round was led by Hub Angels Investment Group and included individual investors and smaller funds, the company’s announcement said. … Continue reading “$2.35M for Incentive Targeting”
Idenix Raises $26.2M
Idenix Pharmaceuticals (NASDAQ: [[ticker:IDIX]]), a Cambridge, MA-based developer of anti-viral drugs, has priced an offering of 6.46 million shares of its common stock at $4.35 per share, an SEC filing revealed. Thomas Weisel Partners is acting as the sole book-running manager of the deal, which will bring in net proceeds of about $26.2 million to … Continue reading “Idenix Raises $26.2M”
Xconomy’s Healthcare In Transition Forum: In Photos
Monday was Xconomy’s first ever event dedicated specifically to exploring how information technology can be used to improve the healthcare system. The event opened with a keynote address by Frank Moss, director of the MIT Media Lab (our venue for the forum), who used a clip from Saturday Night Live satirizing the Middle Age-technique of … Continue reading “Xconomy’s Healthcare In Transition Forum: In Photos”
Northwest Under-the-Radar Deals: 11 Financings Worth $1 Million or Less in March
When it came to startup investing in the Northwest last month, it was a bit of a give and take. Washington-based companies raised about $21 million across three deals, each worth more than $1 million, plummeting from the $53.5 million that companies pulled in across 10 such transactions in February. But the number of “under-the-radar” … Continue reading “Northwest Under-the-Radar Deals: 11 Financings Worth $1 Million or Less in March”
San Diego’s Under-the-Radar Funding: Four Startup Deals in March Worth Less Than $1 Million
Back in November, Bruce gave San Diego readers a preview of our list of “under-the-radar” deals—startup transactions worth less than $1 million, based on data provided to us by private company intelligence platform CB Insights. We’ve been tracking them in our other cities for months, but we didn’t see much activity in San Diego again … Continue reading “San Diego’s Under-the-Radar Funding: Four Startup Deals in March Worth Less Than $1 Million”
Novartis Buys Alnylam Shares, Xconomy Holds First Ever Health IT Forum, Vertex Alumni Spread Throughout Life Sciences Sector, & More Boston-Area Life Sciences News
It was a big news week for the intersection of information technology and healthcare, with our first ever forum completely dedicated to the topic, and a few startups in the space nabbing funding. Headlines from big pharma companies rounded it out for us, too. —Athenahealth (NASDAQ: [[ticker:ATHN]]), the Watertown, MA-based maker of electronic health records … Continue reading “Novartis Buys Alnylam Shares, Xconomy Holds First Ever Health IT Forum, Vertex Alumni Spread Throughout Life Sciences Sector, & More Boston-Area Life Sciences News”
StreamBase Grabs $5.5 Million
Lexington, MA-based StreamBase Systems, a developer of complex event processing software, has pulled in a $5.5 million offering of debt, options, and warrants, an SEC filing reveals. The company, which makes software that analyzes real-time data for decision making, closed a $6 million Series D round in January 2009. Its website lists Accel Partners, Bessemer … Continue reading “StreamBase Grabs $5.5 Million”
$1.5M for HealthEdge
HealthEdge Software, a Burlington, MA-based provider of healthcare payment software, has raised $1.5 million of a planned $3.5 million round of debt, options, and warrants, according to an SEC filing. The company pulled in $3.5 million in equity-based funding last July. The newest financing involved four investors, but they were not named in the filing.
Under-the-Radar in New England: 16 Startup Financings Under $1 Million
March was a big month for little deals—at least when it comes to investing in New England’s startups. A couple of weeks ago, I wrote about the venture investing deals worth $1 million and up for March, which totaled to $194.5 million across 17 deals, according to data provided to us by private company intelligence … Continue reading “Under-the-Radar in New England: 16 Startup Financings Under $1 Million”
MHS Nabs $7M Series B
Management Health Solutions, a Fairfield, CT-based provider of inventory management software for hospitals, has pulled in a $7 million Series B round of equity funding, which enabled it to acquire mobile supply chain software provider AtPar, the company announced yesterday. The financing was led by Enhanced Equity Fund, a private equity fund focused on growth … Continue reading “MHS Nabs $7M Series B”
Warner Bros. Acquires Turbine, Athenahealth Taps IBM, Alkermes Reveals Diabetes Drug Royalty, & More Boston-Area Deals News
News of financings, partnerships, royalties, and acquisitions among New England’s video game, transportation, biotech, and energy companies have kept us buzzing in the last week. —Westwood, MA-based online games maker Turbine was purchased by the Home Entertainment Group of Warner Bros. Interactive Entertainment, a unit of Time Warner (NYSE: [[ticker:TWX]]). Turbine produces the massively multiplayer … Continue reading “Warner Bros. Acquires Turbine, Athenahealth Taps IBM, Alkermes Reveals Diabetes Drug Royalty, & More Boston-Area Deals News”
Addition, Subtraction at Local Venture Firms
Already in the week, we’ve had a few moves at some local venture capital firms. Read below for the details. —Rob Go, formerly a senior associate at Boston-based Spark Capital, announced on his blog today that last Friday was his last day at the firm. He didn’t specify where he’d be going next, but says … Continue reading “Addition, Subtraction at Local Venture Firms”
Genzyme Expects to Pay $175M to FDA, Westphal Leaves Sirtris to Run GSK Venture Arm, Gelesis Obesity Treatment Passes First Human Trial, & More Boston-Area Life Sciences News
Headlines from both long-established pharma companies and stealthy biotech startups made it a busy life sciences news week for us. —It was a life sciences-focused week for us, with the introduction of our new life sciences columnist, Sylvia Pagán Westphal, a journalist who’s covered biotech for big-name publications. Her inaugural post likened the lack of … Continue reading “Genzyme Expects to Pay $175M to FDA, Westphal Leaves Sirtris to Run GSK Venture Arm, Gelesis Obesity Treatment Passes First Human Trial, & More Boston-Area Life Sciences News”
Pluromed Raises $1.1M
Pluromed, a Woburn, MA-based maker of medical devices, has raised $1.1 million of a planned $3.9 million equity offering, from 16 investors, according to an SEC filing. Founded in 2003, Pluromed develops devices designed to control bleeding in a range of surgeries, from cardiac and vascular to reconstructive procedures, that can also be used to … Continue reading “Pluromed Raises $1.1M”
Healthcare Dominates Massachusetts’ Top 10 Deals
Earlier this week, my colleague Bruce took a look at venture capital activity across the country in the first quarter of 2010, and found that investors were sinking more cash into startups than they did a year ago. We track these deals with data provided by private company intelligence platform CB Insights, Dow Jones VentureSource, … Continue reading “Healthcare Dominates Massachusetts’ Top 10 Deals”
Knome Gets $5M From bioMérieux
Knome, a Cambridge, MA-based genomics sequencing and analysis company, received $5 million from France’s bioMérieux in exchange for an equity stake. It’s part of a partnership deal in which the French company will use Knome’s technology to develop in vitro diagnostics for cancer and infectious diseases, the companies announced today. As part of the deal, … Continue reading “Knome Gets $5M From bioMérieux”
Qualtré Closes $8M Series B Round
Qualtré, a maker of motion sensors for consumer electronics such as cellular handsets, navigation devices, and gaming controllers, has closed an $8 million Series B round of funding, the Marlborough, MA-based company announced today. Matrix Partners and Pilot House Ventures participated in the round, which will go to product development, sales, and operations, and brings … Continue reading “Qualtré Closes $8M Series B Round”
Zipcar Acquires UK’s Streetcar
Cambridge, MA-based car-sharing company Zipcar announced it has acquired Streetcar, a U.K.-based car club that operates under a similar model. Zipcar chairman and CEO Scott Griffith said in the company statement that “when considered along with our investment in the largest car sharing company in Spain in late 2009, this transaction gives us a very … Continue reading “Zipcar Acquires UK’s Streetcar”
Oracle Acquires Phase Forward, Diax Collects Up to $12M from Paul Capital, Agios Gets $130M from Celgene, & More Boston-Area Deals News
Acquisitions, partnership agreements, and early round financing for some stealthy operations made it a busy deals news week for us. —Third Rock Ventures, a Boston firm focused on investments in life sciences companies, plans to raise $400 million for its second fund, according to an SEC filing. The firm closed its first fund, with $378 … Continue reading “Oracle Acquires Phase Forward, Diax Collects Up to $12M from Paul Capital, Agios Gets $130M from Celgene, & More Boston-Area Deals News”
Boston’s LED Cluster: Lighting Up Everything From Projectors to the Pru
Boston isn’t Houston as far as energy industry hubs go. But here in New England, there is a lot of innovation with light-emitting diodes, these energy-conserving tools that can be found everywhere from homes to warehouses to urban skyscrapers, and embedded in products like TVs, projectors, medical devices, and software systems. Light-emitting diodes, which are … Continue reading “Boston’s LED Cluster: Lighting Up Everything From Projectors to the Pru”
Hygeia Completes $1M Series A
Hygeia Therapeutics, a Holden, MA, developer of hormone-based topical drugs, has closed a $1 million round of Series A funding, the company announced today. Hygeia did not reveal the investors in the round, but said the funding will go to testing its topical synthetic estrogen drug designed to treat age-related skin thinning, and will fuel … Continue reading “Hygeia Completes $1M Series A”
Tangoe Files for $75M IPO
Tangoe, an Orange, CT-based provider of enterprise communication management software, has filed for an initial public offering of $75 million in common stock. The proceeds from the IPO will go to paying down the company’s debt, as well as increasing capital for financing growth, developing new products, and funding potential future investments and acquisitions, the … Continue reading “Tangoe Files for $75M IPO”
Massachusetts is the Unsung Hotbed for Video Games, MIT Conference Panelists Say
When it comes to the video game industry in Massachusetts, “we have a major brand problem,” says Jason Schupbach, the creative economy industry director of the Massachusetts Department of Business Development. “We have an amazing technology community here, but we don’t have a huge history of consumer-facing brands being based here,” he said at a … Continue reading “Massachusetts is the Unsung Hotbed for Video Games, MIT Conference Panelists Say”
Genzyme Activist Joins Board, Agios Clinches Deal With Celgene, Third Rock Seeks $400M New Fund, & More Boston-Area Life Sciences News
Looks like last week’s flurry of information technology news is long gone. Headlines of partnerships, board appointments, and venture funding in biotech companies made it a busy life sciences news week for us. —MedVentive, a Waltham, MA-based provider of software for tracking medical data, raised a $10 million series C round. MedVentive got part of … Continue reading “Genzyme Activist Joins Board, Agios Clinches Deal With Celgene, Third Rock Seeks $400M New Fund, & More Boston-Area Life Sciences News”
MassChallenge Launches $1 Million Global Business Competition to Fuel State’s Innovation Economy
MassChallenge, a Boston-area nonprofit focused on encouraging innovation, is “convinced that entrepreneurship is the answer” for everything to unemployment to the housing crisis to pollution, in the words of CEO and co-founder John Harthorne. To put its money where its mouth is, the organization is unleashing a global startup competition with $1 million available in … Continue reading “MassChallenge Launches $1 Million Global Business Competition to Fuel State’s Innovation Economy”
For A123, Government Funding Brings Both Job Creation and Innovation, CEO Says
A123Systems president and CEO David Vieau says some investors have questioned whether the company’s aggressive pursuit of federal funding for lithium-ion battery production is a sign that the company doesn’t have a sustainble business without government support. But for A123 (NASDAQ: [[ticker:AONE]]), “it really is about jobs,” Vieau said yesterday at a fireside chat-style discussion … Continue reading “For A123, Government Funding Brings Both Job Creation and Innovation, CEO Says”
Nokia Acquires Metacarta, Massachusetts Taps EnerNOC and FloDesign, MedVentive Gets Backing from Clarian Health, & More Boston-Area Deals News
After a slower flow of high-tech transactions last week, dealmaking was back with a bang this week. Companies in industries from energy to e-commerce to life sciences scored early venture rounds, partnership deals, and state contracts. —Gemvara, an e-commerce site for jewelry customizations, announced it raised $5.2 million in Series B money, bringing the Lexington, … Continue reading “Nokia Acquires Metacarta, Massachusetts Taps EnerNOC and FloDesign, MedVentive Gets Backing from Clarian Health, & More Boston-Area Deals News”
$7M to Searchandise, Led by Madrona
Searchandise Commerce, a Beverly, MA-based company that provides an online media network for manufacturers and retail partners, has landed $7 million in Series 2 financing, led by Seattle’s Madrona Venture Group, the company announced today. Existing Searchandise investors Cloquet Capital Partners, DFJ Gotham Partners, Draper Associates, Inflection Point Ventures, Milestone Venture Partners, and Wheatley Partners … Continue reading “$7M to Searchandise, Led by Madrona”
MicroCHIPS, Nimbit, and Xcellerex Hire New CEOs
There’s the old saying that things happen in threes. That’s true this week in Boston, where three tech companies have announced new CEOs. Two of the moves came in the life science sector, at MicroCHIPS and Xcellerex, and the third involved online music marketing site Nimbit. Read below for the details on each company’s new … Continue reading “MicroCHIPS, Nimbit, and Xcellerex Hire New CEOs”
Massachusetts Venture Funding Slimmed Down to $194 Million in March, But Healthcare Investing Swelled
It’s no question that March was a disorderly month. Here in New England, 70-degree days were quickly followed by record flooding for the region. The NCAA tournament saw major upsets in nearly every round (only for Duke to win the championship in the end.) Oh, and a little something called healthcare reform was signed into … Continue reading “Massachusetts Venture Funding Slimmed Down to $194 Million in March, But Healthcare Investing Swelled”