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.

Idea Fund of La Crosse Raises $4.9M More, Eyes First Investments

While the Badger Fund of Funds is still working toward the program’s stated goal of investing in Wisconsin-based startups, the pool of money its leaders will draw from when they do so continues to expand. The Idea Fund of La Crosse, one of the “recipient” funds created under the public-private Badger Fund of Funds program, … Continue reading “Idea Fund of La Crosse Raises $4.9M More, Eyes First Investments”

Eyeing Recent FDA Decision, Promega to Seek Approvals for MSI Assay

Laboratory supplies company Promega wants its tests to join the decision-making tools that clinicians use when treating patients and the Fitchburg, WI company now plans to seek the necessary approvals for use of one its tests in colorectal cancer. Promega aims to secure FDA approval for its microsatellite instability (MSI) assay. The company will also … Continue reading “Eyeing Recent FDA Decision, Promega to Seek Approvals for MSI Assay”

Forward Health Group Inks Deal with Dialysis Clinic Chain

[Corrected 7/10/17 5:02 p.m. See below.] Fresenius Medical Care North America, an organization that provides healthcare for patients with kidney failure and other chronic conditions, recently signed a multiyear agreement to license software developed by Madison, WI-based Forward Health Group. Michael Barbouche, founder and CEO of Forward Health Group, says his company will begin installing … Continue reading “Forward Health Group Inks Deal with Dialysis Clinic Chain”

California Firm Invests in Beloit Aviation Software Maker Comply365

The cockpit of an airplane is usually the target for most innovations in aviation technology. Over the past decade, at least some of that attention has focused on the pilot’s “flight bag,” a mainstay of the flight deck. The term refers to the box-like briefcase that holds everything a pilot might need: the aircraft operating … Continue reading “California Firm Invests in Beloit Aviation Software Maker Comply365”

Case, M-WERC, Gener8tor, Synesis, & More: This Week’s WI Watchlist

A tech celebrity’s upcoming visit, a new partnership for an energy consortium, and a liquid nutrition spinout company are among these recent headlines from Wisconsin’s innovation community: —Steve Case, co-founder of the Internet pioneer America Online, will appear at Green Bay’s Lambeau Field for two days in mid-October as part of his “Rise of the … Continue reading “Case, M-WERC, Gener8tor, Synesis, & More: This Week’s WI Watchlist”

Breathe For Change Provides Teaching Tools to Help Fight Burnout

Amy Kazda knows the value of exercises with a calming effect. Kazda, who teaches music at two elementary schools in Madison, WI, said that many of her students come to her classroom directly from gym class. Often, they still have adrenaline pumping through their veins. “Their minds are racing, and their bodies are maybe racing, … Continue reading “Breathe For Change Provides Teaching Tools to Help Fight Burnout”

Scanalytics to Collaborate with Cisco After Winning IoT Competition

Scanalytics, a Milwaukee-based developer of Internet-connected floor mats and complementary software that helps customers track foot traffic and other activity in physical spaces, says it has begun working with the Silicon Valley tech giant Cisco Systems to integrate some of the two companies’ products. San Jose, CA-based Cisco (NASDAQ: [[ticker:CSCO]]) recently sponsored a competition in … Continue reading “Scanalytics to Collaborate with Cisco After Winning IoT Competition”

AkitaBox, PrecisionHawk to Bring Drones to Building Management

AkitaBox, a developer of software allowing users to access and edit documents containing data on buildings and the machines inside of them, announced a collaboration Monday that could enable the startup’s customers to inspect building exteriors by flying unmanned aerial vehicles, or drones. Madison, WI-based AkitaBox says it has partnered with Raleigh, NC-based PrecisionHawk, which … Continue reading “AkitaBox, PrecisionHawk to Bring Drones to Building Management”

ARI, Hyperloop, SmartUQ, GrocerKey, & More: This Week’s WI Watchlist

Catch up on news from Wisconsin’s innovation community with these recent headlines: —ARI Network Services (NASDAQ: [[ticker:ARIS]]), a Milwaukee-based company that develops e-commerce software for equipment manufacturers and other customers, was acquired for about $140 million by True Wind Capital, a San Francisco-based private equity firm. Prior to the deal, shares in ARI Network Services … Continue reading “ARI, Hyperloop, SmartUQ, GrocerKey, & More: This Week’s WI Watchlist”

Shares in EnSync Plunge After Company Announces Stock Offering

EnSync Energy Systems, a manufacturer of renewable energy storage and power control products based in the Milwaukee area, saw its stock price fall more than 37 percent on Thursday after the company announced a public stock offering. Shares in EnSync (NYSE: [[ticker:ESNC]]) ended the trading day at just under 32 cents apiece, down more than … Continue reading “Shares in EnSync Plunge After Company Announces Stock Offering”

Foxconn Founder Gives Details on Plan to Build Display Plant in U.S.

The founder and chairman of Foxconn, a Taiwanese multinational known as a key supplier for Apple (NASDAQ: [[ticker:AAPL]]) and other digital device makers, said Thursday that Foxconn plans to invest more than $10 billion in an electronics display-making plant in the U.S., according to a Reuters report. Terry Gou, who has led Foxconn since founding … Continue reading “Foxconn Founder Gives Details on Plan to Build Display Plant in U.S.”

Coinigy Adds Users, As Digital Currency Values Soar

Matt Cohler, a general partner with the Silicon Valley-based venture capital firm Benchmark, in 2014 described to Vanity Fair his view of the smartphone as a “remote control for real life.” Cohler’s analogy captures a key feature of so many digital innovations, from the earliest remote controls to today’s smartphones: being able to take lots … Continue reading “Coinigy Adds Users, As Digital Currency Values Soar”

Swallow Solutions Gulps Down $700K to Develop Thickened Beverages

Swallow Solutions, a Madison, WI-based startup that develops therapeutic devices and other products for people with swallowing disorders, has raised more than $726,000 in new equity financing. Seventeen investors participated in the funding round, according to an SEC filing. The company has raised nearly $4.9 million since launching in 2009, says Eric Horler, president and … Continue reading “Swallow Solutions Gulps Down $700K to Develop Thickened Beverages”

Interoperability, Drones, Tech Hubs & More: This Week’s WI Watchlist

Stay current on news from Wisconsin’s innovation community with these recent headlines. —The Milwaukee Journal Sentinel published an in-depth report on electronic patient health records interoperability, or the ability of different hospitals and clinics to exchange patient data. Ninety-six percent of hospitals now use electronic health records, the newspaper reported, but the industry still has … Continue reading “Interoperability, Drones, Tech Hubs & More: This Week’s WI Watchlist”

Fiserv Gains Payments Tech, Global Reach in $89M Deal for Monitise

In a potential sign that mobile payments technology may not be living up to its early promise, Brookfield, WI-based financial IT vendor Fiserv is acquiring a U.K. software maker that has struggled in recent years. Fiserv (NASDAQ: [[ticker:FISV]]) announced earlier this week it has agreed to pay about £70 million—or $89.4 million, at the current … Continue reading “Fiserv Gains Payments Tech, Global Reach in $89M Deal for Monitise”

Foxconn Mulls Building Plant in WI That Could Employ Thousands

Foxconn, the world’s biggest contract electronics manufacturer, is considering building a plant in Wisconsin, the Associated Press reported Wednesday. Taiwan-based Foxconn is perhaps best known for its factories in Shenzhen, China, where it assembles iPhones and other personal computing devices sold by Apple (NASDAQ: [[ticker:AAPL]]). Other customers of Foxconn include BlackBerry, Dell, Nintendo, and Sony … Continue reading “Foxconn Mulls Building Plant in WI That Could Employ Thousands”

Report: Wisconsin Startups Raised $276M in 2016, Up From 2015 Total

Venture capital funds and angel investors pumped more than $276 million into Wisconsin-based startups in 2016. That was a 6 percent increase over the previous year, when early stage companies in the state raised $209 million; however, the 2016 total was lower than the $346 million that Wisconsin startups raised in 2014. Those figures and … Continue reading “Report: Wisconsin Startups Raised $276M in 2016, Up From 2015 Total”

Exact, WARF, Murfie, Microbes, & More: This Week’s WI Watchlist

Keep up with the latest news from Wisconsin’s innovation community with these recent headlines. —Madison-based Exact Sciences (NASDAQ: [[ticker:EXAS]]), whose flagship product is a stool-based screening test for colorectal cancer, issued a recall of 15 pieces of equipment used to mix stool samples in preparation for testing at the company’s lab. According to the FDA, … Continue reading “Exact, WARF, Murfie, Microbes, & More: This Week’s WI Watchlist”

Stratatech Starts Latest Study of Skin-Like Tissue in Burn Patients

Stratatech said this week that the first patient has been enrolled in a Phase 3 clinical trial of the cell-based regenerative skin tissue the company is developing. The aim of the study is to assess the safety and efficacy of StrataGraft, the company’s flagship skin replacement product, at coaxing the bodies of patients with burn … Continue reading “Stratatech Starts Latest Study of Skin-Like Tissue in Burn Patients”

Judge Upholds $234M Award to WARF in Apple Patent Case

A federal judge on Tuesday rejected Apple’s request to overturn a jury’s finding that the company must pay $234 million in damages to the Wisconsin Alumni Research Foundation (WARF) for infringing on a patent held by the foundation, according to a statement from WARF and multiple news reports. WARF manages patents and licensing of intellectual … Continue reading “Judge Upholds $234M Award to WARF in Apple Patent Case”

Northern Star Fire’s E-compass Wins Governor’s Business Plan Contest

According to the U.S. Fire Administration, 1,002 firefighters died while on duty between 2006 and 2015. Jeff Dykes, a fire captain and entrepreneur, believes some of those fatalities could have been avoided if the firefighters had been able to determine what direction they were facing while inside of burning buildings. Dykes is the founder of Eau Claire, … Continue reading “Northern Star Fire’s E-compass Wins Governor’s Business Plan Contest”

Exact Sciences To Sell 7 to 8 Million Shares in Stock Offering

 Exact Sciences today announced that it is selling 7 million shares of common stock at $35 per share, a 4.5 discount off of Tuesday’s closing price. The offering is underwritten by Bank of America Merrill Lynch, Jefferies, and Robert W. Baird & Co., which have the option to purchase up to 1.05 million additional shares. … Continue reading “Exact Sciences To Sell 7 to 8 Million Shares in Stock Offering”

Madison Startup Asto Tests Its CT Scanner on a Standing Horse

Asto CT, a Madison, WI-based startup developing a computed tomography (CT) device for performing scans of animals, has taken a major step forward this spring in its effort to commercialize its machine. The results could impact the field of CT technology for veterinarians and other specialists. In late April, one of the company’s scanners was … Continue reading “Madison Startup Asto Tests Its CT Scanner on a Standing Horse”

Cardigan, Younkle’s Latest Startup, Seeks to Digitize Business Cards

First, Matt Younkle helped customers digitize their music collections. Now, the serial entrepreneur is working on technology to digitize the age-old ritual of swapping business cards with new acquaintances. Madison, WI-based Cardigan has developed software allowing people to exchange contact information using their smartphones. The company’s mobile app became available on the App Store and … Continue reading “Cardigan, Younkle’s Latest Startup, Seeks to Digitize Business Cards”

Stem Cell Software Firm Cellara Eyes Mid-June for Commercial Launch

[Updated 6/9/17 12:39 p.m. See below.] A 2015 study in the journal PLOS Biology estimated that $28 billion is spent annually in the U.S. on preclinical research that is not reproducible. One reason for what some researchers have called a “crisis” in reproducibility is that in certain types of laboratories, some scientists still track their day-to-day … Continue reading “Stem Cell Software Firm Cellara Eyes Mid-June for Commercial Launch”

Winnebago Seed Fund, Part of Badger Fund of Funds, Raises $11M

A Wisconsin venture capital fund created under a state-supported program has raised $11 million. The Winnebago Seed Fund said the size of the funding round could top out at $12 million, according to a document filed with federal securities regulators. Thirty-one investors participated in the round, according to the filing. The fund is based in … Continue reading “Winnebago Seed Fund, Part of Badger Fund of Funds, Raises $11M”

Gig Economy Growing in Wisconsin, Despite Early Pushback

Independent contractors, temporary employees, and other so-called “contingent” workers make up a growing share of the American workforce. According to a 2015 report from the Government Accountability Office, contingent workers accounted for 40.4 percent of employed workers in 2010, up from 35.3 percent in 2006. In Wisconsin—and elsewhere—companies that make up the “sharing” or “gig” economy … Continue reading “Gig Economy Growing in Wisconsin, Despite Early Pushback”

Shares in Exact Sciences Rise on UnitedHealthcare Coverage Decision

Exact Sciences saw its stock price rise late Tuesday on news that the health insurer UnitedHealthcare will cover Cologuard, Exact’s stool-based DNA test for colorectal cancer, starting July 1. Shares in Madison, WI-based Exact (NASDAQ: [[ticker:EXAS]]) were trading at $35.30 apiece as of 7:47 p.m. in New York, up more than 8.1 percent from Tuesday’s … Continue reading “Shares in Exact Sciences Rise on UnitedHealthcare Coverage Decision”

Water Startups, Hyde, Lucigen, & More: This Week’s WI Watchlist

Just in time for the unofficial start of summer, we’re looking at news on startups in Wisconsin developing new water technologies, as well as one that has created a product for water sports enthusiasts. Plus, an award for growth in exports, an upcoming pitch event, commercial licensing agreements, and more happenings in the state’s innovation community. … Continue reading “Water Startups, Hyde, Lucigen, & More: This Week’s WI Watchlist”

Loan Provider BankMyBiz Aims to Continue Growth Through Partnerships

[Updated 5/25/17 4:47 p.m. See below.] People who have spent years working in a particular industry before deciding to hang out their own shingle need a few things to succeed: a business plan, plenty of gumption, and enough money to get a new venture off the ground. That last piece—the startup capital—can be hard to … Continue reading “Loan Provider BankMyBiz Aims to Continue Growth Through Partnerships”

Startup Accelerator Gener8tor Explores Possible Expansion to Indiana

Gener8tor, a Wisconsin-based group that runs training programs for early-stage companies and invests in them, is considering bringing those programs to Indianapolis. The organization is still finalizing its decision about whether to expand into the Hoosier State. But if Gener8tor elects to do so, it will likely open an Indianapolis office by early 2018 and … Continue reading “Startup Accelerator Gener8tor Explores Possible Expansion to Indiana”

Gener8tor, StartingBlock, Wicab, & More: This Week’s WI Watchlist

Catch up on news from Wisconsin’s innovation community with these recent headlines: —Gener8tor, which has run training programs for entrepreneurs in Wisconsin and Minnesota, graduated five startups from its core accelerator program. Descriptions of the companies, which had been working from Gener8tor’s office in Madison since February, are available here. See articles in the Wisconsin … Continue reading “Gener8tor, StartingBlock, Wicab, & More: This Week’s WI Watchlist”

Where Do WI And Milwaukee, Last In Startup Activity, Go From Here?

Call it a “three-peat,” a losing streak, or what you will. Just don’t call it a surprise. On Thursday, the Ewing Marion Kauffman Foundation released its latest ranking of startup activity by state. For the third consecutive year, Wisconsin finished in last place. Many of the reactions from members of the state’s early-stage business and … Continue reading “Where Do WI And Milwaukee, Last In Startup Activity, Go From Here?”

Stem Pharm Aims to Add to Madison’s Stem Cell Past with Biomaterials

In the years since researchers at the University of Wisconsin-Madison derived the first human embryonic stem cell line, in 1998, numerous stem cell-focused businesses have popped up in the area. Each one has its own unique concentration, but the overarching goal of these companies is to develop and sell lines of stem cells, as well … Continue reading “Stem Pharm Aims to Add to Madison’s Stem Cell Past with Biomaterials”

Understory’s Weather Data Tracking Network Is Now Active in 6 Cities

Understory, a weather technology startup based in Madison, WI, has expanded its geographic footprint and named a key customer. Understory builds weather stations to measure things like wind, temperature, humidity, rain, and hail. It sells weather data to businesses such as insurance company Pacific Specialty—a customer Understory just revealed—and provides data free to consumers. With … Continue reading “Understory’s Weather Data Tracking Network Is Now Active in 6 Cities”

Exact Sciences CEO Defends Company Against Short-Seller’s Criticism

Citron Research published a report critical of Exact Sciences and its flagship screening test for colorectal cancer Monday, prompting a testy exchange on television later in the day between Exact CEO and chairman Kevin Conroy and Andrew Left, founder of Citron and a well-known short-seller. In the 13-page report, Left writes that the rate at … Continue reading “Exact Sciences CEO Defends Company Against Short-Seller’s Criticism”

Agro Bio, BrightStar, Stratatech, & More: This Week’s WI Watchlist

Stay current on news from Wisconsin’s innovation community, starting with these recent headlines: —Agro Biosciences, a Milwaukee-area company whose technology is aimed at identifying beneficial bacteria in order to improve agricultural products, said it was acquired by Church & Dwight (NYSE: [[ticker:CHD]]), the parent company of Arm & Hammer Animal Nutrition. According to a press … Continue reading “Agro Bio, BrightStar, Stratatech, & More: This Week’s WI Watchlist”

Blackriver’s Planning and Tracking Tools Gain Traction with Cyclists

Want to go for a bike ride? If so, some of your next steps might be to determine the distance of your ride, where it will begin and end, and whether you want to invite anyone else to join. Blackriver, a Madison, WI-based startup, has joined the list of companies that develop technology allowing cyclists to … Continue reading “Blackriver’s Planning and Tracking Tools Gain Traction with Cyclists”

Maker of Keyboard for Lawyers Eyes Resale Agreement, Second Product

A 2010 study on computer ergonomics by researchers at DePaul University found that selecting menu items using keyboard shortcuts was more efficient than doing so with a mouse. However, many organizations routinely erase some of the short-term memory stored on their employees’ computers. For these workers, adding custom “hot key” shortcuts is essentially futile because they … Continue reading “Maker of Keyboard for Lawyers Eyes Resale Agreement, Second Product”

Propeller CEO: Engagement, Environment Among Population Health Keys

Hospitals and other healthcare organizations are turning to high-tech tools to help them adapt to the shift to so-called value-based care, where providers are paid based on patient outcomes, rather than the quantity of patient visits and services delivered. Those tools include population health management software, a sector seeing increased competition as demand from healthcare … Continue reading “Propeller CEO: Engagement, Environment Among Population Health Keys”

Some See Large EHR Vendors as Playing Catch-up in Population Health

Lawmakers may end up repealing the Affordable Care Act, but it has been the law of the land for enough time that some of the changes it has brought will likely leave a lasting mark on the healthcare industry. One of these changes is the shift away from fee-for-service payment models, where providers are paid … Continue reading “Some See Large EHR Vendors as Playing Catch-up in Population Health”

Epic, Zuckerberg, Cellectar, & More: This Week’s Wisconsin Watchlist

[Updated 5/3/17 9:53 a.m. See below.] Keep up with the latest news from Wisconsin’s innovation community, starting with these headlines: —The U.S. Coast Guard submitted a request for information to a government procurement website related to the purchase of electronic health records (EHR) software, Healthcare IT News reported. The Coast Guard had been installing EHR software … Continue reading “Epic, Zuckerberg, Cellectar, & More: This Week’s Wisconsin Watchlist”

SmartUQ Scoops Up $1.9M for Simulation Analytics Software

SmartUQ, a Madison, WI-based software developer whose digital tools allow users to test the performance of physical products and the parts they’re made of, has raised more than $1.9 million from investors. Twenty-five investors participated in the equity financing round, according to an SEC filing. Peter Qian, who founded SmartUQ in 2014 and serves as … Continue reading “SmartUQ Scoops Up $1.9M for Simulation Analytics Software”

Exact Sciences Shares Rise After Company Beats Quarterly Forecasts

[Updated 4/27/17 5:29 pm. See below.] A year ago, Exact Sciences’s stock was in a slump, languishing below $10 per share. But since then, its stock price has climbed back to more than $20 per share. That rally continued Thursday, after the medical diagnostics company released first quarter financial results that handily beat analyst expectations. … Continue reading “Exact Sciences Shares Rise After Company Beats Quarterly Forecasts”

Titan Spine, Aurora, CMFG, & More: This Week’s Wisconsin Watchlist

Catch up on news from Wisconsin’s innovation community, starting with these recent headlines: —Mequon-based Titan Spine, which makes titanium cages of various shapes and sizes designed for use in spinal surgeries, said it achieved “record sales” during the first three months of 2017. In a press release highlighting the company’s recent progress, Titan Spine said that … Continue reading “Titan Spine, Aurora, CMFG, & More: This Week’s Wisconsin Watchlist”

Cellular Dynamics Adds to Stem Cell Work With Harvard Institute

Cellular Dynamics International, a Madison, WI-based manufacturer of human cells, recently signed a collaboration agreement with the Harvard Stem Cell Institute that’s aimed at making greater quantities of stem cells available to researchers at the institute and its affiliates. CDI concentrates in part on developing and commercializing therapies using induced pluripotent stem (iPS) cells, which can … Continue reading “Cellular Dynamics Adds to Stem Cell Work With Harvard Institute”

Virent’s New CEO Talks Tesoro Purchase, Company Culture, and More

Last week, Virent, a Madison, WI-based developer of biofuels that are designed to replace crude oil, announced it had hired Stacey Orlandi to serve as the company’s next chief executive. Virent says its base technology can help produce cleaner and more sustainable versions of liquid transportation fuels, including gasoline, diesel, and jet fuel. The 40-person … Continue reading “Virent’s New CEO Talks Tesoro Purchase, Company Culture, and More”

ImageMoverMD Introduces Tools to Help Hospitals Load Medical Images

After patients undergo magnetic resonance imaging procedures, they are sometimes referred to a specialist at a different hospital, and given CDs with files showing the results of their scans. But often times at the follow-up appointment, a physician who is handed a disc is left thinking, “What do I do with this?” says Gary Wendt. … Continue reading “ImageMoverMD Introduces Tools to Help Hospitals Load Medical Images”

Panel: Companies’ Big Bets Suggest Cleantech Is Here to Stay

For a cleantech startup, it can make sense to fuel growth with venture capital dollars—but only up to a certain point, said Hans Liao. That was one lesson Liao learned after he left Minnesota-based Cargill, the largest private company in the U.S., and in 2009 began working at Boulder, CO-based OPX Biotechnologies, a developer of … Continue reading “Panel: Companies’ Big Bets Suggest Cleantech Is Here to Stay”