Wrap up your week with these headlines from Wisconsin’s innovation community: —The first recipient fund to launch under the Badger Fund of Funds will be The Idea Fund, based in LaCrosse, and managed by Jonathon Horne, the Milwaukee Journal Sentinel reported. The Idea Fund, one of up to 12 funds that Badger Fund general partner Ken Johnson … Continue reading “Fund of Funds, ConsortiEX & Froedtert: This Week’s Wisconsin Roundup”
Author: Jeff Buchanan
Jeff formerly led Xconomy’s Seattle coverage since. Before that, he spent three years as editor of Xconomy Wisconsin, primarily covering software and biotech companies based in the Badger State. A graduate of Vanderbilt, he worked in health IT prior to being bit by the journalism bug.
At Forward Health, Assessing Impact of Payment Changes Is Simple Math
[Corrected 5/5/16, 4:08 pm. See below] As a statistician trained in health economics, Michael Barbouche has over the years studied intricate payment models and other mathematical concepts. Still, when describing Forward Health Group—the Madison, WI-based company he founded and continues to lead—he goes back to basics. “We are a denominator-centric company,” Barbouche says. “We build … Continue reading “At Forward Health, Assessing Impact of Payment Changes Is Simple Math”
Dynamis Reels in $529K to Develop Tools for Sizing Up Health Plans
Dynamis Software, whose technology allows insurance brokers to design and evaluate health plans for the organizations they sell to, has raised more than $529,000 in equity financing, according to a regulatory document filed Tuesday. Dynamis will use the money to help fuel the West Allis, WI-based company’s growth, says co-founder and CEO Andy Nunemaker. “We’ve … Continue reading “Dynamis Reels in $529K to Develop Tools for Sizing Up Health Plans”
HealthLX Raises $405K to Help Clients’ Systems Exchange Health Data
From a cardholder’s perspective, paying with plastic is really simple: swipe your card, enter a PIN if necessary, wait a couple seconds for the transaction to be approved, and be on your way. But during that momentary pause, there’s quite a bit happening behind the scenes. The point-of-sale terminal needs to send a query with … Continue reading “HealthLX Raises $405K to Help Clients’ Systems Exchange Health Data”
After Two Years Apart, Startups STEMhero and MeterHero Reunite
It’s rare that a spinoff company ends up buying its parent. But that’s what happened with STEMhero and MeterHero, two software startups born in Milwaukee and recently rejoined. In 2011, McGee Young, then a professor at Marquette University, taught an environmental politics class in which students brainstormed ideas to help people better understand how much … Continue reading “After Two Years Apart, Startups STEMhero and MeterHero Reunite”
Epic, OnKöl, Wicab, & ConjuGon: This Week’s Wisconsin Watchlist
An up-and-down week for Verona, WI-based healthtech giant Epic Systems highlights these recent headlines from the state’s innovation community: —The U.S. Coast Guard has pulled out of an agreement to install Epic’s electronic health records software, Politico reported. “The decision was driven by concerns about the project’s ability to deliver a viable product in a … Continue reading “Epic, OnKöl, Wicab, & ConjuGon: This Week’s Wisconsin Watchlist”
AkitaBox Raises $1.1M to Develop Software for Storing Building Data
In today’s society, 8.5 by 11—the dimensions, in inches, of a typical sheet of paper— is giving way to 1’s and 0’s. Book pages have become pixels on the screens of e-readers like Amazon’s Kindle. Medical charts detailing patients’ health histories have migrated from file cabinets to racks of computer servers. Building management and maintenance … Continue reading “AkitaBox Raises $1.1M to Develop Software for Storing Building Data”
Amid Coding School Boom, Eleven Fifty Aims to Meet a Local Need
A little over a year ago, John Qualls, a veteran entrepreneur and leader in the Indianapolis area’s business community, decided to try something slightly different for his next career move. At the time Qualls was working as an executive at BlueLock, a company he started in 2006 that develops software to help clients manage data … Continue reading “Amid Coding School Boom, Eleven Fifty Aims to Meet a Local Need”
EnsoData Raises $550K to Develop Software That Analyzes Sleep Data
At an event last August featuring pitches from startups, EnsoData co-founder Chris Fernandez told audience members that his company was hoping to raise $300,000 in a seed funding round. EnsoData, whose software uses machine learning algorithms to help clinicians score sleep data and diagnose patients with sleep apnea and other disorders, has now realized that … Continue reading “EnsoData Raises $550K to Develop Software That Analyzes Sleep Data”
Epic Trial, WARF Funding, & City Rankings: This Week’s WI Watchlist
Start your weekend with these recent headlines from Wisconsin’s innovation community: —The trial between Verona-based health records giant Epic Systems and Tata Consultancy Services, based in India, is now underway, the website WisBusiness.com reported. In October 2014, Epic sued Tata, alleging that its consultants working with Epic’s software stole thousands of documents containing proprietary information that … Continue reading “Epic Trial, WARF Funding, & City Rankings: This Week’s WI Watchlist”
Latest gBETA Class Unveiled, Suggests Ties With WARF Are Solidifying
In November, the startup accelerator Gener8tor announced a partnership with the Wisconsin Alumni Research Foundation, which manages patents and licensing of intellectual property for the University of Wisconsin-Madison. Under the agreement, WARF became a sponsor of gBETA, a no-strings-attached accelerator run by Gener8tor for early-stage companies affiliated with colleges and universities in Wisconsin. Additional ties … Continue reading “Latest gBETA Class Unveiled, Suggests Ties With WARF Are Solidifying”
Pegasus Sustainability Nabs $2M to Develop Cleanup-facilitating Tools
Mark Hope understands the power of auctions. Hope is the founder and CEO of Pegasus Sustainability Solutions, whose software helps connect organizations or individuals that generate waste with groups that can come take it away. One mechanism behind this matchmaking is the reverse auction, where a waste-removal contract goes to the bidder willing to accept … Continue reading “Pegasus Sustainability Nabs $2M to Develop Cleanup-facilitating Tools”
Shark Tank, Blockchain, & Water Tech: This Week’s Wisconsin Watchlist
Kick off the week by checking out these recent headlines from Wisconsin’s innovation community: —MobCraft Beer co-founder Henry Schwartz appeared on “Shark Tank”—a show on the ABC network in which entrepreneurs pitch ideas to investors—but there was no deal reached, the Wisconsin State Journal reported. Kevin O’Leary, one of the “sharks” to whom Schwartz pitched, … Continue reading “Shark Tank, Blockchain, & Water Tech: This Week’s Wisconsin Watchlist”
What Can Madison Learn From Seattle? Q&A With the New Head of WARF
The Wisconsin Alumni Research Foundation announced on Wednesday that it had selected Erik Iverson as its new managing director. WARF, which manages patents and licensing for the University of Wisconsin-Madison—the state’s largest academic research institution—has since 2000 been led by Carl Gulbrandsen, who will be retiring on June 30 (Iverson’s official start date is July … Continue reading “What Can Madison Learn From Seattle? Q&A With the New Head of WARF”
Former Gates Foundation Lawyer Tapped As WARF’s New Managing Director
Erik Iverson, an attorney whose career stops include the Bill & Melinda Gates Foundation, has been named the next managing director of the Wisconsin Alumni Research Foundation, which manages patents and licensing of intellectual property for the University of Wisconsin-Madison. Iverson, 47, currently serves as president of business and operations for the Infectious Disease Research … Continue reading “Former Gates Foundation Lawyer Tapped As WARF’s New Managing Director”
As Pharma Deals Progress, Propeller Health Sharpens Its Strategy
By teaming up with larger, more established companies, startups can avoid having to reinvent the wheel—or, in the case of Propeller Health, the inhaler. Madison, WI-based Propeller Health says that it and Boehringer Ingelheim, a German pharmaceutical giant whose products include the Respimat inhaler, have taken a key step forward in their joint effort to … Continue reading “As Pharma Deals Progress, Propeller Health Sharpens Its Strategy”
OneEvent Raises $700K To Make Building-Monitoring Devices Smarter
[Updated 3/22/16 9:47 am. See below.] Kurt Wedig spotted a business opportunity in a 2008 episode of NBC’s “Today Show.” He says that inspiration struck during a segment about evacuation procedures at hotels. Anchor Natalie Morales, wearing a blindfold, tried to crawl out of her smoke-filled room and down the hall to a stairwell. “It … Continue reading “OneEvent Raises $700K To Make Building-Monitoring Devices Smarter”
Its Stock Price Still Flagging, Connecture Raises $52M From Investors
Connecture, a company that develops Web-based software designed to aid consumers shopping for health insurance, said that it has raised $52 million from investors in an effort to bolster its financial position. In a news release, Brookfield, WI-based Connecture (NASDAQ: [[ticker:CNXR]]) said it will use the money “to strengthen its financial profile through reduced leverage and … Continue reading “Its Stock Price Still Flagging, Connecture Raises $52M From Investors”
Wantable, Gener8tor, and Arrowhead: This Week’s Wisconsin Watchlist
A new biotech laboratory, another lofty national ranking for an accelerator, and changes to a coding school’s expansion plans are among these recent headlines from Wisconsin’s innovation community: —Milwaukee-based Wantable raised more than $2 million from investors, according to a regulatory filing. The startup ships curated boxes containing clothing, makeup, accessories, and other items to a … Continue reading “Wantable, Gener8tor, and Arrowhead: This Week’s Wisconsin Watchlist”
NeuWave Bought by J&J Subsidiary Ethicon, Eyes International Markets
It’s a new era for NeuWave Medical. The Madison, WI-based device and software maker says that earlier this week, it was acquired for an undisclosed sum by Ethicon, a surgery-focused subsidiary of Johnson & Johnson (NYSE: [[ticker:JNJ]]). NeuWave had raised about $54 million from investors, a large chunk of which came from the company’s $25 million … Continue reading “NeuWave Bought by J&J Subsidiary Ethicon, Eyes International Markets”
EatStreet-Telkonet Tie-Up Aims to Help Hotel Guests Order Local Food
Room service is getting some new competition, thanks in part to an agreement between two Wisconsin companies. EatStreet, an online food-ordering service based in Madison, WI, announced on Tuesday that it’s teamed up with Waukesha-based Telkonet. One of the latter company’s business divisions, known as EthoStream, specializes in outfitting hotels with wireless Internet. The idea … Continue reading “EatStreet-Telkonet Tie-Up Aims to Help Hotel Guests Order Local Food”
Eyeing Growth, Project Foundry Targets Cleveland Students, Teachers
In 2012, the City of Cleveland decided to transform its public schools. Some of the reasons were laid bare in a 15-page plan describing why and how the city sought to make changes. At the time, 31,000 children were attending failing schools, according to the document, which was prepared by the office of Mayor Frank … Continue reading “Eyeing Growth, Project Foundry Targets Cleveland Students, Teachers”
Swallow Solutions, Upcoming Pitches Headline This Week’s WI Watchlist
Ring in the month of March with news from Wisconsin’s innovation community: —A device made by the Madison-based startup Swallow Solutions “may be an effective treatment for older adults with dysphagia,” a difficulty swallowing often caused by weak mouth and throat muscles, and could result in fewer hospital readmissions for patients. That’s according to a … Continue reading “Swallow Solutions, Upcoming Pitches Headline This Week’s WI Watchlist”
Exact Sciences Axes Lung Cancer Partnership With MD Anderson
After less than a year, Exact Sciences has terminated a partnership with the University of Texas MD Anderson Cancer Center aimed at developing blood-based diagnostic tests for lung cancer. The decision to nix the agreement was mutual, MD Anderson’s Sam Hanash said in an e-mail to Xconomy. Hanash is a physician and researcher at the … Continue reading “Exact Sciences Axes Lung Cancer Partnership With MD Anderson”
Ground Breaking: Shine Receives Permit from Regulator to Build Plant
Shine Medical Technologies says it has received approval from a federal regulator to build a manufacturing facility where the company plans to produce a crucial medical isotope. The Nuclear Regulatory Commission authorized the issuance of a construction permit to Shine Thursday, says Katrina Pitas, the company’s vice president of business development. The facility will be … Continue reading “Ground Breaking: Shine Receives Permit from Regulator to Build Plant”
With New Partnership, Propeller Health To Make Inhaler From Scratch
Propeller Health knows a thing or two about inhalers. The Madison, WI-based startup, launched in 2010, has for years made electronic devices that encase or snap onto inhalers made by large pharma companies such as Germany-based Boehringer Ingelheim and U.K.-based GlaxoSmithKline (NYSE: [[ticker:GSK]]). Propeller’s Internet-connected devices are designed to help asthma and chronic obstructive pulmonary … Continue reading “With New Partnership, Propeller Health To Make Inhaler From Scratch”
E-Prescribing Startup Snags $3.3M, May Opt to Keep Bootstrapping
Having access to millions of dollars and choosing not to draw on the funds probably requires some serious willpower. CenterX, a Madison, WI-based developer of e-prescribing software, finds itself in that situation after raising more than $3.3 million from investors, according to a regulatory document filed on Monday. Joe Reinardy, co-founder and CEO of the … Continue reading “E-Prescribing Startup Snags $3.3M, May Opt to Keep Bootstrapping”
SI Swimsuit Models Go Virtual With Wisconsin Printer’s Headset
Quad/Graphics has long been the company that’s printed hard copies of Sports Illustrated. Now, the two are extending their relationship into the increasingly popular world of virtual reality, starting with the magazine’s famed swimsuit issue. Sussex, WI-based Quad (NYSE: [[ticker:QUAD]]) has developed a VR viewer made from foldable paper that the company says is included … Continue reading “SI Swimsuit Models Go Virtual With Wisconsin Printer’s Headset”
OnKöl, VC Ranking, & Stem Cells: This Week’s Wisconsin Watchlist
A Silicon Valley tie-up, a new, nine-figure fund, and some flattering venture capital news are among these recent headlines from Wisconsin’s innovation community: —OnKöl, a Milwaukee-based startup whose flagship product is aimed at older adults, and ties together myriad home and health-monitoring devices, said it has been selected as a finalist for a 2016 Edison … Continue reading “OnKöl, VC Ranking, & Stem Cells: This Week’s Wisconsin Watchlist”
Got Your Back End: Exis, 4 Other Startups in Gener8tor’s New Class
Last month, Facebook announced it was shuttering Parse, a platform for software developers that the social network acquired in 2013 for a reported $85 million. The news came as both a rush and a blow to Dale Willis, co-founder and CEO of Exis, a Madison, WI-based startup. Like Parse, Exis makes tools and services to … Continue reading “Got Your Back End: Exis, 4 Other Startups in Gener8tor’s New Class”
Smart Choice MRI Receives $3M from ThedaCare for Midwest Expansion
Merging with a rival often makes a lot of business sense. Investing in a company that provides competing services, by contrast, may require more explanation. Today, most magnetic resonance imaging scans are done at hospitals. But they’re being challenged by companies like Mequon, WI-based Smart Choice MRI, which charges patients a flat $600 rate for … Continue reading “Smart Choice MRI Receives $3M from ThedaCare for Midwest Expansion”
BrightStar Reveals Phoenix Investment, Sale of $500K in Tax Credits
BrightStar Wisconsin Foundation has made its first investment of 2016 and has sold $500,000 in “early-stage seed” tax credits to several individuals, the foundation said this week. Phoenix Nuclear Labs, a Madison, WI-based startup that has developed particle accelerator technology with applications in areas like medical imaging and weapons inspection, is raising a funding round … Continue reading “BrightStar Reveals Phoenix Investment, Sale of $500K in Tax Credits”
Rabble On: Tech Startup Aims to Boost Local Music Through Libraries
In July, Amazon supplanted Walmart (NYSE: [[ticker:WMT]]) as the nation’s most valuable retailer, as measured by market capitalization. Those who follow technology trends could have told you they had seen this change as inevitable. Even if the news didn’t come as a huge surprise, it was yet another indicator of the impact e-commerce has had … Continue reading “Rabble On: Tech Startup Aims to Boost Local Music Through Libraries”
Flint’s Water, Wicab, & New Leaders: This Week’s Wisconsin Watchlist
The water crisis in Flint, MI, funding announcements, and personnel changes are among these recent headlines from Wisconsin’s innovation community: —The physician who detected problems with Flint’s water supply and escalated her findings, bringing to light the city’s current water crisis, did so using software developed by Verona-based Epic Systems, the Wisconsin State Journal reported. … Continue reading “Flint’s Water, Wicab, & New Leaders: This Week’s Wisconsin Watchlist”
CD Changer: Meet Chris Wheeler, Murfie’s New CEO
[Updated 2/5/16 5:12 pm. See below.] Murfie, the online music market that will convert your collection of compact discs and vinyl records into high-quality digital audio files, has made some changes at the top of its org chart. Chris Wheeler has been named CEO, according to an e-mail from Matt Younkle, who co-founded Murfie in … Continue reading “CD Changer: Meet Chris Wheeler, Murfie’s New CEO”
With Partnership, Tesoro To Help Virent Develop Plant-Based Biofuels
In 2015, a year that saw gasoline stay relatively cheap across much of the country, vehicle sales were especially brisk in one category. Light-duty trucks, which include many pickup and SUV models, accounted for 56 percent of vehicles sold in the U.S. last year, that segment’s highest market share since 2004, according to research from Autodata … Continue reading “With Partnership, Tesoro To Help Virent Develop Plant-Based Biofuels”
EatStreet, Uber Partner To Serve Chicago Diners Starting Next Month
There’s a host of startups striving to be the “Uber of (insert activity or service here).” Meanwhile, some businesses are teaming up with the ascendant San Francisco-based company—which is most widely known for its ride-hailing app, but has expanded into other areas—to tap into its huge user base and recognizable brand. According to Uber’s website, … Continue reading “EatStreet, Uber Partner To Serve Chicago Diners Starting Next Month”
Fiserv, Wellbe, Epic, & Best STEM Cities: This Week’s WI Watchlist
A nine-figure fintech deal, several new funding rounds, and a look at one of the state’s tech powerhouses are among these recent headlines from Wisconsin’s innovation community: —Brookfield-based Fiserv (NASDAQ: [[ticker:FISV]]) announced it paid $200 million in cash to acquire the Community Financial Services business of Naples, FL-based ACI Worldwide (NASDAQ: [[ticker:ACIW]]). According to a press … Continue reading “Fiserv, Wellbe, Epic, & Best STEM Cities: This Week’s WI Watchlist”
Johnson Controls-Tyco Merger Brings Companies Scale, Tax Savings
Milwaukee-based Johnson Controls announced it has merged with Tyco, in a deal that the two said will deliver cost and tax savings to the combined company, which like Tyco will be headquartered in Cork, Ireland. Johnson Controls’ (NYSE: [[ticker:JCI]]) product line includes heating and cooling equipment for buildings. CEO Alex Molinaroli said Tyco’s (NYSE: [[ticker:TYC]]) … Continue reading “Johnson Controls-Tyco Merger Brings Companies Scale, Tax Savings”
Looking Back on Key Acquisitions of WI Companies in the Past 5 Years
It takes a while for mergers and acquisitions to play out. While immediate insights from investors and industry observers can help their audience understand why a deal happened and what implications it will have for the parties involved, some time must pass before a thorough assessment can be made. Five years later seems like an … Continue reading “Looking Back on Key Acquisitions of WI Companies in the Past 5 Years”
The Race to Integrate IoT Devices and Create a Truly Connected Home
In case you haven’t heard, the Internet of Things is the latest thing. The IoT movement, where manufacturers take formerly offline devices and update them with Internet capabilities, will encompass 20 to 30 billion gadgets by 2020, according to a 2014 report by McKinsey & Company. Data from CB Insights show that funding to IoT startups eclipsed … Continue reading “The Race to Integrate IoT Devices and Create a Truly Connected Home”
BluDiagnostics Continues Momentum With $600K Seed Funding Round
2015 was a big year for BluDiagnostics, but 2016 is already shaping up to be even bigger. The Madison, WI-based startup, which is developing a saliva-based fertility test, has raised $600,000 in debt financing as part of a seed funding round, co-founder Katie Brenner confirmed Tuesday. According to a regulatory filing, nine investors participated in … Continue reading “BluDiagnostics Continues Momentum With $600K Seed Funding Round”
Venture Deals, Orbitec, & Connecture: This Week’s Wisconsin Watchlist
Last year’s venture capital totals, a startup that will help deliver cargo to space, a public offering registration, and other news from Exact Sciences, HealthMyne, Johnson Controls, and Stealth Therapeutics: —In 2015, Wisconsin companies raised $87.9 million in venture capital across 23 deals, according to a report by PricewaterhouseCoopers and the National Venture Capital Association. … Continue reading “Venture Deals, Orbitec, & Connecture: This Week’s Wisconsin Watchlist”
UW-Milwaukee Chancellor Gives Update On New Entrepreneurship Building
Those who follow startups closely are likely familiar with the term “pivot,” which refers to a change in course from the original vision of an early-stage company. Mark Mone, who is chancellor of the University of Wisconsin-Milwaukee and described as a “gourmet cook” on the school’s website, said he’s no stranger to improvisation himself. “If you’re … Continue reading “UW-Milwaukee Chancellor Gives Update On New Entrepreneurship Building”
Ebullient Continues Hot Streak, Snags $2.3M For Computer Cooling Tech
[Updated 1/19/16 12:23 pm. to clarify how Ebullient’s systems work.] Data centers are hot. One of these buildings typically houses thousands of computer servers, some of which may be owned or rented by cloud storage services like Dropbox, Box (NYSE: [[ticker:BOX]]), and the Web Services division of e-commerce giant Amazon (NASDAQ: [[ticker:AMZN]]). Processing bits nonstop … Continue reading “Ebullient Continues Hot Streak, Snags $2.3M For Computer Cooling Tech”
Will Tech Be A Boon To Insurance Firms, Or Threaten Their Existence?
In the not-so-distant future, the insurance industry could find itself under siege from interlopers large and small. During the first nine months of 2015, insurance technology startups such as San Francisco, CA-based Zenefits and New York-based Oscar took in more than $2.4 billion in funding, a 250 percent increase over the total amount raised by … Continue reading “Will Tech Be A Boon To Insurance Firms, Or Threaten Their Existence?”
Exact Sciences Shares Down After Results For Quarter, Year Announced
Shares in Exact Sciences suffered double-digit losses Monday after the company announced preliminary results, some of them related to financial performance, for the final quarter of 2015 and the year as a whole. Madison, WI-based Exact (NASDAQ: [[ticker:EXAS]]) said it completed about 38,000 Cologuard tests—its stool-based DNA diagnostic for detecting colorectal cancer—during the three-month period … Continue reading “Exact Sciences Shares Down After Results For Quarter, Year Announced”
Phoenix, Baird’s New CEO, & Epic’s Growth: This Week’s WI Watchlist
Gyms are packed, forlorn Christmas trees lie on curbs, and the Green Bay Packers are in the NFL playoffs—it must be January in Wisconsin. Make it a resolution to stay plugged into the state’s innovation community, starting with these recent headlines: —Phoenix Nuclear Labs has raised $790,000 in debt financing, according to an SEC filing, … Continue reading “Phoenix, Baird’s New CEO, & Epic’s Growth: This Week’s WI Watchlist”
Minnesota Data Center Sold For $46M As Epic, Mayo Strike Another Deal
Epic Systems, the healthtech giant based in Verona, WI, is expanding its already sizeable footprint in neighboring Minnesota. At least nine health systems headquartered in the state use or plan to use Epic’s electronic health records (EHR) software to schedule appointments, document patient information, bill for services, and perform other tasks. One of them is … Continue reading “Minnesota Data Center Sold For $46M As Epic, Mayo Strike Another Deal”
Shine Announces New Funding Total, Says Building Plans Are On Track
Shine Medical Technologies, a Madison, WI-based startup that’s part of the race to produce a vital medical isotope domestically, has now raised nearly $50 million in total, vice president of business development Katrina Pitas said in an e-mail. In October, Greg Piefer, Shine’s founder and CEO, told Xconomy the company had raised about $45 million … Continue reading “Shine Announces New Funding Total, Says Building Plans Are On Track”