When Mark Bakken formed the healthcare technology investment firm HealthX Ventures nearly five years ago, he says hospitals, insurers, and other potential buyers of digital health products were less open to conversations with the kinds of early-stage healthtech startups Bakken’s firm wanted to back. At the time, healthcare organizations’ top priority was installing electronic medical … Continue reading “AI Can Unlock Health Data’s Potential, But Access Is Still Difficult”
Author: Jeff Bauter Engel
Jeff, a former Xconomy editor, joined Xconomy from The Milwaukee Business Journal, where he covered manufacturing and technology and wrote about companies including Johnson Controls, Harley-Davidson and MillerCoors. He previously worked as the business and healthcare reporter for the Marshfield News-Herald in central Wisconsin.
He graduated from Marquette University with a bachelor degree in journalism and Spanish. At Marquette he was an award-winning reporter and editor with The Marquette Tribune, the student newspaper. During college he also was a reporter intern for the Muskegon Chronicle and Grand Rapids Press in west Michigan.
Venture Investors Bets on Healthcare, and Milwaukee, With $75M Fund
Venture Investors is going all-in on healthcare with its latest venture fund. Launched in 1982, Venture Investors (VI) is the oldest venture firm in Wisconsin, and one of the older VCs in the US. Historically, early-stage life sciences and healthcare startups have made up the majority of its investments, but it has also backed young … Continue reading “Venture Investors Bets on Healthcare, and Milwaukee, With $75M Fund”
Xconomy Awards Boston 2019 Honors Best in Life Sciences: Slideshow
The third annual Xconomy Awards Boston Gala was the biggest and most spectacular yet. More than 450 people from across the life science ecosystem came out to the Boston Convention and Exhibition Center last month to celebrate the finalists over dinner and drinks, find out who got to take home the awards, and reconnect with … Continue reading “Xconomy Awards Boston 2019 Honors Best in Life Sciences: Slideshow”
Nuance & Microsoft Team Up on Conversational AI for Doctors’ Offices
Nuance Communications’ plan to lighten the clerical burden on physicians is coming into focus, and it involves an assist from tech giant Microsoft. Nuance (NASDAQ: [[ticker:NUAN]]), the 27-year-old speech recognition technology pioneer, in February revealed it’s developing a device that would sit in exam rooms and listen to conversations between doctors and patients. The system’s … Continue reading “Nuance & Microsoft Team Up on Conversational AI for Doctors’ Offices”
WI Watchlist: Epic, Shine, Venture Investors, Stratatech & More
It’s time to catch up on some of the latest happenings across Wisconsin’s innovation communities: —Shine Medical Technologies said it struck a deal to receive $50 million in financing from funds managed by Oaktree Capital Management. The money will support the ongoing construction of Shine’s medical isotope production facility in Janesville, as well as Shine’s … Continue reading “WI Watchlist: Epic, Shine, Venture Investors, Stratatech & More”
Unpack Digital Health’s Progress & Pitfalls at X·CON on Oct. 22
Digital health is having a moment, thanks to a convergence of increasingly sophisticated computing technologies, a more favorable regulatory environment, and growing buy-in from hospitals, insurers, and patients. But plenty of challenges and questions remain. Join Xconomy on Oct. 22 for an elite conference that will help industry stakeholders better understand the most promising opportunities … Continue reading “Unpack Digital Health’s Progress & Pitfalls at X·CON on Oct. 22”
Fetch Rewards Grabs $25M, Plans to Double Staff as Growth Accelerates
Fetch Rewards’ pivot seems to be paying off. The Madison, WI-based mobile app startup has pulled in $25 million from investors to help it capitalize on a surge of new users and business partners. The fresh funding was revealed in a document filed this week with the SEC. The money comes from Greycroft and E.ventures, … Continue reading “Fetch Rewards Grabs $25M, Plans to Double Staff as Growth Accelerates”
Booming CS Demand Brings Ex-Acquia CEO Back to His UW Roots
Tom Erickson was ready to retire to Australia. But then the Wisconsin native and veteran technology executive got an offer from his alma mater that he decided he couldn’t pass up. This month, the University of Wisconsin-Madison named Erickson founding director of its School of Computer, Data & Information Sciences (CDIS). The school, part of … Continue reading “Booming CS Demand Brings Ex-Acquia CEO Back to His UW Roots”
The Winners of the 2019 Xconomy Awards Boston Are…
Even after three years, it doesn’t get any easier to choose the winners of the Xconomy Awards in Boston. There were multiple deserving winners in each category this year. But after much discussion and debate among our judges and the editors, we decided that these winners represent the best of the Boston life sciences community. … Continue reading “The Winners of the 2019 Xconomy Awards Boston Are…”
John Halamka, Livongo Health & AI Progress at X·CON on Oct. 22
The consumerization of healthcare is accelerating. Within five years, a “significant percentage” of healthcare services will be run through mobile apps and other digital tools, predicts John Halamka, a Boston-based doctor and prominent digital health expert. Halamka shared his prognostication in a recent conversation, but we’ll dive more deeply into his vision for healthcare’s tech-enabled … Continue reading “John Halamka, Livongo Health & AI Progress at X·CON on Oct. 22”
WI Watchlist: Epic, Frontdesk, Shine, StartingBlock Madison & More
With summer coming to a close, it’s time to catch up on recent happenings in Wisconsin’s innovation clusters. Read on for details. —Epic Systems, the electronic medical records giant, unveiled several new products at its annual Users Group Meeting held at its headquarters near Madison. Per a report by the Wisconsin State Journal, the additions … Continue reading “WI Watchlist: Epic, Frontdesk, Shine, StartingBlock Madison & More”
Healthcare’s Future is Telemedicine & AI, But Will Everyone Benefit?
John Halamka thinks the digital health industry is still “emerging.” But it has come a long way and is starting to deliver after years of hype. Halamka, a Boston-based physician and healthcare technology expert, says that’s thanks to several coalescing factors: improved technology, more favorable financial incentives for using digital products in healthcare, and growing … Continue reading “Healthcare’s Future is Telemedicine & AI, But Will Everyone Benefit?”
Boston Tech Watch: Buoy Health, Cambridge Crops, Polarity & More
This week, we’re tracking venture capital deals in digital health, augmented reality for the enterprise, wellness, and food tech. Read on for details. —Buoy Health said it snagged $15 million in a Series B funding round led by Hambrecht Ducera Growth Ventures, which was joined in the investment by Humana (NYSE: [[ticker:HUM]]), F-Prime Capital Partners, … Continue reading “Boston Tech Watch: Buoy Health, Cambridge Crops, Polarity & More”
WI Watchlist: AmFam, Venture Investors, Understory, Gener8tor & More
It’s time to catch up on some recent headlines from Wisconsin’s innovation clusters: —Venture Investors and American Family Ventures are making progress on raising new venture funds. Madison-based Venture Investors has closed on $73.1 million for its latest fund, and it could grow the fund to $100 million, according to an SEC filing. Meanwhile, American … Continue reading “WI Watchlist: AmFam, Venture Investors, Understory, Gener8tor & More”
Boston Tech Watch: Nike, Cybereason, Care.com, LaunchByte & More
Nike goes shopping in Boston. Cybereason tracks down another big investment. Care.com makes a change at the top. A purported venture capitalist gets arrested for alleged fraud. Read on for these stories and more of the biggest developments in Boston tech this week. —Nike (NYSE: [[ticker:NKE]]) acquired Boston-based retail technology firm Celect for an undisclosed … Continue reading “Boston Tech Watch: Nike, Cybereason, Care.com, LaunchByte & More”
AIQ Solutions Hits On $3.2M to Pinpoint Drug-Resistant Tumors
Many companies developing artificial intelligence software for healthcare are trying to improve doctors’ ability to diagnose disease. Fewer emerging healthcare AI businesses are focused on what happens after a diagnosis, aiming to figure out how treatments are working. One of them, AIQ Solutions, has developed software that analyzes medical imaging data to identify all of … Continue reading “AIQ Solutions Hits On $3.2M to Pinpoint Drug-Resistant Tumors”
SoftBank Commits $200M to Cybereason, Cybersecurity’s Newest Unicorn
Software has become arguably the most effective weapon for criminals and nation states. In response, security technology businesses are pulling in huge investments to enhance their arsenal to try and stop cyber adversaries. Cybereason, one of the cybersecurity industry’s biggest bets, announced today that it’s raising up to $200 million in equity funding from the … Continue reading “SoftBank Commits $200M to Cybereason, Cybersecurity’s Newest Unicorn”
Digital Health Gets Real: Hear From Pear, Nuance & More at X·CON
At times in recent years, it seemed like digital technologies would never live up to the hype in healthcare. In many cases, they still haven’t. But some have turned a corner and are starting to have a real impact. Devices with health-minded features, such as home-monitoring systems and smart watches, are helping patients and doctors … Continue reading “Digital Health Gets Real: Hear From Pear, Nuance & More at X·CON”
Exact Sciences Buying Genomic Health in $2.8B Cancer Diagnostics Deal
[Updated 7/29/19, 10:19 am CT. See below.] With ambitious sales goals and its stock trading at an all-time high this year, cancer diagnostics firm Exact Sciences decided to go shopping. The result is a deal announced Monday to acquire Genomic Health for $2.8 billion in cash and stock, a combination that Exact CEO Kevin Conroy … Continue reading “Exact Sciences Buying Genomic Health in $2.8B Cancer Diagnostics Deal”
50 Photos From Net@50: The Roots and Future of the Internet
Last week marked a historic occasion. As the world commemorated the 50th anniversary of humankind setting foot on the moon for the first time, Xconomy and the World Frontiers Forum convened an incredible group at the MIT Media Lab to celebrate another monumental achievement a half century ago: the birth of the internet. The Net@50 … Continue reading “50 Photos From Net@50: The Roots and Future of the Internet”
WI Watchlist: E-Scooters, CUNA Incubator, Curate Funding & More
[Updated 7/23/19, 8:48 am CT. See below.] It’s time to catch up on some recent Wisconsin innovation headlines: —CMFG Ventures, the venture capital arm of Madison-based CUNA Mutual Group, announced today that it’s creating a financial technology incubator in partnership with the nonprofit Filene Research Institute, a consumer finance think tank. The incubator is seeking … Continue reading “WI Watchlist: E-Scooters, CUNA Incubator, Curate Funding & More”
WI Startup Funding Hit Record in 2018 as VCs Cut Bigger Checks
A record $300 million was invested in Wisconsin ventures last year, as maturing businesses pulled in larger funding rounds. But a continued decrease in the number of firms raising their first outside capital could signal trouble for the state’s pipeline of budding startups. Those are some of the key takeaways from the latest Wisconsin Portfolio, … Continue reading “WI Startup Funding Hit Record in 2018 as VCs Cut Bigger Checks”
WI Watchlist: Microsoft, Exact Sciences, Shine & MKE Tech Hub
[Updated 7/3/19, 2:25 pm CT. See below.] Before everyone checks out for the Fourth of July holiday, let’s catch up on some recent Wisconsin innovation news: —Shine Medical Technologies has raised $18 million in new funding, a combination of equity and stock options, according to a filing with the SEC. The round could reach $30 … Continue reading “WI Watchlist: Microsoft, Exact Sciences, Shine & MKE Tech Hub”
WI Watchlist: Aaron Rodgers, Redox, Zywave, Rusinow & More
It’s time to catch up on some recent Wisconsin innovation news: —Green Bay Packers quarterback Aaron Rodgers has a new title: venture capitalist. He co-founded and serves as general partner of Rx3 Ventures, a Newport Beach, CA-based firm that recently raised more than $50 million for its debut fund. The fund will make “venture and … Continue reading “WI Watchlist: Aaron Rodgers, Redox, Zywave, Rusinow & More”
Gener8tor to Make Startups From Scratch in Revamped Milwaukee Program
[Updated 6/14/19, 10:25 am CT. See below.] Gener8tor, a Wisconsin-based organization with a growing network of startup accelerators across the Midwest, is shaking up the format of its flagship Milwaukee program in a bid to catalyze entrepreneurship among locals. Instead of seeking applications from existing startups located around the world, this fall’s Gener8tor program in … Continue reading “Gener8tor to Make Startups From Scratch in Revamped Milwaukee Program”
Rocket Engines & Startup Fuel: NM, Abodo, & More WI Headlines
It’s time to catch up on recent Wisconsin innovation news, including more funding for startups and expanded production of rocket engines in the Madison area. Read on for more details. —Northwestern Mutual said it’s pumping $150 million into its second in-house venture capital fund. The Milwaukee-based insurance and wealth management services giant invested $50 million … Continue reading “Rocket Engines & Startup Fuel: NM, Abodo, & More WI Headlines”
What’s Hot in Boston Biotech 2019: The Photos
From gene therapy’s renaissance to the uncertain future of Alzheimer’s treatments, it’s a challenging but exciting time in the life sciences. Xconomy’s recent What’s Hot in Boston Biotech forum gathered a stellar group of industry leaders to dissect and reflect on many of the sector’s most urgent issues—and have a bit of fun, too. Check … Continue reading “What’s Hot in Boston Biotech 2019: The Photos”
WI Watchlist: Montage, LÜM, WEDC, Titan Spine, Polco, Swallow & More
A medical device for patients with swallowing disorders gets new life. A music streaming app gets an influx of cash. The state’s economic development agency faces more criticism for its practices. Startups in recruiting tech, medtech, and civic tech strike merger and acquisition deals. Read on for more details about these stories and other recent … Continue reading “WI Watchlist: Montage, LÜM, WEDC, Titan Spine, Polco, Swallow & More”
Weather Tech Q&A: Understory CEO on “Ground Truth,” Climate Change
[Updated 5/17/19, 3:56 pm ET. See below.] As climate change brings more extreme and unpredictable weather, the stakes for improving the ability to track and forecast atmospheric conditions are rising. That has contributed to a growing interest in startups developing technologies for weather monitoring and analytics. The latest to cash in is Understory, a Madison, … Continue reading “Weather Tech Q&A: Understory CEO on “Ground Truth,” Climate Change”
WI Watchlist: Twitter Deal, AmFam Gift, Arrowhead Trial & More
It’s time to catch up on recent headlines from Wisconsin’s innovation scene, including a $20 million donation earmarked for data science research and education at the University of Wisconsin-Madison, a pair of tech acquisitions, and key milestones for two biotech firms. Read on for details. —American Family Insurance said it will donate $20 million to … Continue reading “WI Watchlist: Twitter Deal, AmFam Gift, Arrowhead Trial & More”
TitletownTech, HealthX, Polco & More WI Venture Funding News
It’s time to catch up on recent fundraising and deal-making news from Wisconsin-based startups and investors. Read on for details. —Phoenix said it inked a $4 million contract with the US Army to demonstrate neutron-based imaging technologies that could be used to help inspect large, complex munitions, according to a press release. The Madison-area company … Continue reading “TitletownTech, HealthX, Polco & More WI Venture Funding News”
Meet the Xconomy Awards San Diego Digital Trailblazer Finalists
San Diego’s prowess in computer science, medical devices, and life sciences makes it a natural hub of innovative digital health companies. The finalists in the Digital Trailblazer category of the Xconomy Awards San Diego highlight the wide variety of healthtech ideas emanating from local startups and big companies alike, ranging from virtual coaches for physical … Continue reading “Meet the Xconomy Awards San Diego Digital Trailblazer Finalists”
Roche Spinout Nimble Therapeutics Bags $10M to Find New Peptide Drugs
For the past five years, Jigar Patel and a group of fellow Roche employees have been quietly developing drug discovery technology at the global pharma company’s outpost in Madison, WI. Now, they’re setting out on their own to see if their approach to identifying promising peptide-based therapies can have an impact on the sector. Patel … Continue reading “Roche Spinout Nimble Therapeutics Bags $10M to Find New Peptide Drugs”
NorthStar Secures $75M+ as Medical Radioisotope Competition Revs Up
[Updated 4/25/19, 11 am CT. See below.] U.S. technology startups continue to pull in heaps of cash to try and stave off shortages of a crucial medical radioisotope. NorthStar Medical Technologies said this week it closed a deal to receive up to $100 million in secured debt financing from funds managed by Oberland Capital Management. … Continue reading “NorthStar Secures $75M+ as Medical Radioisotope Competition Revs Up”
Imbed Biosciences Gets $2M Boost for Silver-Based Wound Dressings
[Corrected 4/23/19, 4:17 pm CT. See below.] Imbed Biosciences, a developer of ultra-thin, silver-based wound dressing materials, will step up its sales and marketing efforts with the help of a fresh $2 million venture investment. The Series A round announced last week was backed by investors including members of Formidable Asset Management and Wisconsin Investment … Continue reading “Imbed Biosciences Gets $2M Boost for Silver-Based Wound Dressings”
SPECIAL REPORT: 2019 Blockchain Outlook — Reality Check
After a breakout year in 2017, the blockchain sector suffered a series of blows in 2018, from crashing cryptocurrency prices to increased regulatory scrutiny of crypto ventures and deepening skepticism about whether the technology was actually useful. Now, the industry has entered a crucial phase where blockchain developers need to overcome the limitations of the … Continue reading “SPECIAL REPORT: 2019 Blockchain Outlook — Reality Check”
Redox Wrangles $33M to Become Healthcare’s Go-To Data Integrator
[Updated 5/3/19, 12:55 pm CT. See below.] As hospitals and clinics have shifted from paper-based records to digital systems, one of the biggest challenges has been sharing patient data between healthcare providers, and between providers and outside software applications. This “interoperability” problem has created a market for companies such as Redox, a Madison, WI-based startup … Continue reading “Redox Wrangles $33M to Become Healthcare’s Go-To Data Integrator”
WI Watchlist: DotCom Therapy, Nordic, UWM, Epic
It’s time to catch up on recent happenings in Wisconsin’s innovation community: —Madison-based telemedicine startup DotCom Therapy named Sanaz Cordes as its chief executive and said it raised an undisclosed amount of funding from HealthX Ventures, a local venture firm that backs healthtech companies. Cordes is a physician and former chief operations officer of another … Continue reading “WI Watchlist: DotCom Therapy, Nordic, UWM, Epic”
C-Motive Powers Up With $2M to Launch Reimagined Electric Motor
C-Motive Technologies, a small startup in Madison, WI, wants to overhaul the electric motors that power electric vehicles, assembly-line robots, aircraft propellers, and other machines. Now, investors are betting on the company’s vision. This week, C-Motive announced it closed a $2 million investment led by Prime Impact Fund, a Boston-area fund that invests philanthropic dollars … Continue reading “C-Motive Powers Up With $2M to Launch Reimagined Electric Motor”
Go Behind the Hacker Frontlines at Cyber Madness in Boston April 8
Criminal hackers might get most of the headlines, but there are plenty of “ethical” hackers helping companies and organizations spot and fix vulnerabilities in their cyber defenses. On April 8, you can go behind the scenes of the hacker frontlines at Xconomy’s “Cyber Madness: Case Studies in Security,” an afternoon conference in Boston focused on … Continue reading “Go Behind the Hacker Frontlines at Cyber Madness in Boston April 8”
WI Watchlist: Dark Knight Fund, Morgridge “Flamingo” Grant & More
In the latest installment of the Wisconsin Watchlist, we’re tracking the fundraising plans of two new Milwaukee-area venture funds, and a pair of grants awarded to research and education projects in Madison. Read on for details. —State Representative Jason Fields, a Democrat from Milwaukee, aims to raise $10 million for a new venture capital fund … Continue reading “WI Watchlist: Dark Knight Fund, Morgridge “Flamingo” Grant & More”
As Exact Sciences’ Sales Surge, CEO Reflects on 10-Year Turnaround
A decade ago, Kevin Conroy took the CEO job at Exact Sciences, a cancer diagnostic firm on the brink of death. Five years later, the FDA greenlit the company’s first product, Cologuard, which marked the first non-invasive, stool-based DNA screening test approved for detecting colorectal cancer. In the five years since then, Exact (NASDAQ: [[ticker:EXAS]]) … Continue reading “As Exact Sciences’ Sales Surge, CEO Reflects on 10-Year Turnaround”
WI Watchlist: Foxconn Fund, UW Accelerator, MSOE A.I. Hall & More
It’s time to catch up on Wisconsin innovation news: —Jason Franklin will manage the Wisconn Valley Venture Fund, a $100 million fund formed last August by Foxconn Technology Group and three leading Wisconsin businesses and organizations: Advocate Aurora Health, Northwestern Mutual, and Johnson Controls (NYSE: [[ticker:JCI]]). Foxconn, a Taiwanese manufacturing giant, has said it’s building … Continue reading “WI Watchlist: Foxconn Fund, UW Accelerator, MSOE A.I. Hall & More”
Bright Cellars Uncorks $8.5M Round for Wine Subscription Service
A few years ago, the frothiest market in tech was arguably startups selling subscriptions to boxes of curated goods, such as clothing, beauty products, and food, which would arrive on customers’ doorsteps each month. The buzz around this area of e-commerce may have subsided a bit, but there are still a ton of box subscription … Continue reading “Bright Cellars Uncorks $8.5M Round for Wine Subscription Service”
A Glimpse of A.I.’s Future? MIT-IBM Research Lab Sees Early Progress
The capabilities of artificial intelligence technologies have increased significantly in the past decade, but there’s a growing sense that new breakthroughs are needed for the field to continue delivering on its promise. David Cox and his colleagues have dedicated themselves to identifying and breaking down “the fundamental core barriers” to advancing A.I., he says. In … Continue reading “A Glimpse of A.I.’s Future? MIT-IBM Research Lab Sees Early Progress”
WI Watchlist: Kauffman Ranking, Driverless Shuttles, Space Research
Here are some of the latest headlines from Wisconsin’s innovation community: —Well, it’s not last place, but it’s still not a great showing for Wisconsin in the latest assessment of entrepreneurial activity in each state by the Ewing Marion Kauffman Foundation. Wisconsin ranked 45th in the foundation’s “early-stage entrepreneurship index” released in February, which examined … Continue reading “WI Watchlist: Kauffman Ranking, Driverless Shuttles, Space Research”
Cybersecurity on Tap: Agenda for Cyber Madness in Boston April 8
When it comes to cybersecurity, no one has all the answers. The best anyone can do is try to fend off cyber attacks with the latest technology and strategies, learn from their successes and failures, and maybe even share their experiences for the benefit of others. That last point is the goal of “Cyber Madness: … Continue reading “Cybersecurity on Tap: Agenda for Cyber Madness in Boston April 8”
Ex-Google CEO: New MIT College Could Help Shrink A.I. Talent Gap
Eric Schmidt believes we’re entering an era where artificial intelligence will underpin most facets of human life. But we don’t yet have enough people with the right skills to build that future. Schmidt, the former CEO of Google and former executive chairman of its parent company Alphabet (NASDAQ: [[ticker:GOOGL]]), argues that the A.I. talent shortage … Continue reading “Ex-Google CEO: New MIT College Could Help Shrink A.I. Talent Gap”
Amazon, Google, Facebook Boosted 2018 Tech Hiring Spree in U.S. Hubs
A tech hiring slowdown in 2018 in America’s three largest innovation hubs would not have surprised John Barrett, given global economic uncertainty stemming from factors such as trade disputes, slower economic growth in China and Europe, and the UK’s looming exit from the EU. Instead, the pace of tech hiring in the San Francisco Bay … Continue reading “Amazon, Google, Facebook Boosted 2018 Tech Hiring Spree in U.S. Hubs”
Exact Sciences Eyes Cologuard Market Expansion After “Landmark Year”
[Updated 2/22/19, 2:42 pm CT. See below.] Exact Sciences screened 934,000 patients for colorectal cancer in 2018 using its stool-based diagnostic test, Cologuard, resulting in a 71 percent surge in annual revenue to $454.5 million, the company announced Thursday. Exact (NASDAQ: [[ticker:EXAS]]), which relocated from the Boston area to Madison, WI, in 2009, is one … Continue reading “Exact Sciences Eyes Cologuard Market Expansion After “Landmark Year””