[Updated 4/5/17, 12:07 pm. See below.] It’s time to catch up on some of the latest happenings in the Boston tech scene: —CarGurus, a Cambridge, MA-based company that runs an online car marketplace, has hired banks to help lead an initial public offering, according to reports by Axios and Reuters, which quoted anonymous sources. Reuters … Continue reading “CarGurus IPO, Harmonix Layoffs, Turing Award & More Boston Tech News”
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.
InTeahouse Accelerator Wants Startups to Think Globally, Build Locally
There’s a new startup accelerator program in town, and it’s got an international flavor. This week, InTeahouse announced the launch of its “InSeven” investment program that will provide capital, office space, and other resources to startups working in robotics, advanced materials, life sciences, cleantech, telecommunications, new media, and financial technology. In a crowded field of … Continue reading “InTeahouse Accelerator Wants Startups to Think Globally, Build Locally”
Boston Startup Exit Data Show Region’s Shift From Tech to Healthcare
The Boston area has become arguably the best place in the world to start a biotech company. Meanwhile, the region is still a leading tech hub, but its stature has diminished somewhat in recent years, with many of the most successful and well-known software companies getting built on the West Coast. That’s the narrative you’ll … Continue reading “Boston Startup Exit Data Show Region’s Shift From Tech to Healthcare”
Vecna Reorganizes, Pushes Logistics Robots in Hot Market
Vecna, a longtime developer of robotics and other technologies, has over the past year reorganized itself into three separate businesses as it seeks outside investment for the first time, says co-founder Daniel Theobald. The company is starting to talk with potential investors about backing its logistics robots business, Theobald says. That business sells various types … Continue reading “Vecna Reorganizes, Pushes Logistics Robots in Hot Market”
Progress Buys DataRPM for $30M to Build “Cognitive” Business Apps
[Updated 4/3/17, 4:39 pm. See below.] Progress Software, a 36-year-old software company, is pushing into machine learning and connected device technologies with its $30 million acquisition of DataRPM, a privately held firm based in Redwood City, CA. The deal is the first acquisition made by new Progress CEO Yogesh Gupta, who took the helm in … Continue reading “Progress Buys DataRPM for $30M to Build “Cognitive” Business Apps”
Carbonite Raises $125M to Pay Off Debt, Scout Acquisitions
Carbonite, a publicly traded cloud backup and data protection firm, is raising $125 million from investors to pay off debt and restock its war chest. The Boston-based company (NASDAQ: [[ticker:CARB]]) announced it’s conducting a private offering of convertible senior notes to institutional investors. The initial buyers have a 30-day option to purchase an additional $18.75 million … Continue reading “Carbonite Raises $125M to Pay Off Debt, Scout Acquisitions”
Boston Tech Watch: Google, Visible Measures, Smack, PlacePass & More
[Updated 3/28/17, 9:02 a.m. See below.] This week in Boston tech, we’re tracking new venture funds, the latest startup investments, the end of the road for some local companies, and more. Read on for details. —Southern New Hampshire University and Rethink Education—a White Plains, NY-based firm that invests in education technology companies—have launched a $15 … Continue reading “Boston Tech Watch: Google, Visible Measures, Smack, PlacePass & More”
Bullhorn CEO Talks Tech Unicorns, Voice Interfaces, & A.I. Hype
Last week, Xconomy published a story about how I jammed with Bullhorn CEO Art Papas in the music room at his software company’s downtown Boston headquarters. Hard-hitting journalism, I know. But our meeting wasn’t just about rocking out to a Foo Fighters song. We also chatted about his 18-year-old company’s ups and downs, why it … Continue reading “Bullhorn CEO Talks Tech Unicorns, Voice Interfaces, & A.I. Hype”
Cibo Technologies Grabs $30M for Agricultural Data Analytics
Cibo Technologies, an agricultural technology startup incubated by Flagship Pioneering’s VentureLabs unit, has raised $30.25 million in equity funding from investors, according to a new SEC filing. The Cambridge, MA-based firm makes data analytics software that aims to improve decision-making in agriculture. Some of the uses include helping farmers maximize their crop yields while reducing … Continue reading “Cibo Technologies Grabs $30M for Agricultural Data Analytics”
Placester Gets $50M from NEA to Expand Real Estate Software Tools
Investors are doubling down on Placester. On Friday, the fast-growing real estate software company announced a $50 million equity funding round from previous investor New Enterprise Associates (NEA). The Series D round brings Boston-based Placester’s total venture capital haul to $100 million. That makes the company one of the biggest venture-backed technology bets in New … Continue reading “Placester Gets $50M from NEA to Expand Real Estate Software Tools”
Kayak Expands to New Platforms as A.I. Assistants Proliferate
[Corrected, 3/24/17, 2:37 p.m. See below.] As Kayak attempts to build a better virtual travel agent, the tech firm is expanding beyond its core website and mobile app, and establishing a presence on additional types of technology platforms. Since mid-2015, Stamford, CT-based Kayak has made its travel-search service available to consumers on Apple Watch, Slack, … Continue reading “Kayak Expands to New Platforms as A.I. Assistants Proliferate”
DataRobot Downloads $54M Led by NEA to Automate Data Science Tasks
Jeremy Achin is embarrassed to admit it, but his decision to quit his job and start a company was inspired in part by seeing the movie “The Social Network,” the Hollywood take on Facebook’s origin story. It was several years ago, and the then-31-year-old was a director of research and modeling at Travelers Insurance in … Continue reading “DataRobot Downloads $54M Led by NEA to Automate Data Science Tasks”
The Time I Jammed to Foo Fighters With Bullhorn CEO Art Papas
After a frustrating day at work, we’ve all probably felt the urge to blow off steam by belting out our favorite song or banging on the drums. Employees at Bullhorn can do that without leaving the office. The business software company’s downtown Boston headquarters has a sound-proof music room (see above) tricked out with several … Continue reading “The Time I Jammed to Foo Fighters With Bullhorn CEO Art Papas”
Boston Tech Watch: DraftKings, Nantero, WordStream, Tinyhood & More
[Updated 3/20/17, 5:45 p.m. See below.] If you’re sick of staring at the sea of red in your March Madness bracket, take a break with the latest headlines in Boston-area tech. This week, we’ve got a lot of funding news—including an update on the recent mega-round from DraftKings—plus a few other notable tidbits. Read on … Continue reading “Boston Tech Watch: DraftKings, Nantero, WordStream, Tinyhood & More”
Talking Driverless Cars, March Madness on Stocks and Jocks Radio
I hit the airwaves Friday morning to talk venture capital, startups, self-driving cars, and March Madness. Stocks and Jocks, a Chicago-based weekday business and sports talk radio program, invited me on the show to share my thoughts on some of the latest trends in the startup world. Hosts Tom Haugh and Kathy Dervin bantered with … Continue reading “Talking Driverless Cars, March Madness on Stocks and Jocks Radio”
Insurify Gets $4.6M, Adds Insurance Search Bot on Facebook Messenger
[Updated 3/16/17, 9:44 a.m. See below.] Facebook Messenger is no longer just an app for messaging friends. The latest capability? It’s now a personal assistant for car insurance shopping. Thanks to a new product launched today by Insurify, a Cambridge, MA-based software startup, consumers can quickly compare car insurance quotes from dozens of carriers within … Continue reading “Insurify Gets $4.6M, Adds Insurance Search Bot on Facebook Messenger”
Myomo, a Robotic Arm Brace Maker, Aims to Raise $15M in “Mini-IPO”
Myomo, a privately held medical device company spun out of MIT, has launched an unusually structured public offering of stock aimed at raising up to $15 million and getting the company listed on the New York Stock Exchange. Cambridge, MA-based Myomo is taking advantage of a change in federal securities law enacted through the Jumpstart … Continue reading “Myomo, a Robotic Arm Brace Maker, Aims to Raise $15M in “Mini-IPO””
Boston Tech Watch: Harmonix, Whoop, Brand Networks, VentureApp & More
[Updated 3/14/17, 4:09 p.m. See below.] Since you might be snowed in today, it seems like a good time to hunker down with some recent Boston-area tech news. Here is the latest: —Evolv Technology, a Waltham, MA-based security technology startup, has closed an $18 million Series B funding round from Lux Capital, Bill Gates, General … Continue reading “Boston Tech Watch: Harmonix, Whoop, Brand Networks, VentureApp & More”
Veering Off Topic With General Catalyst’s Larry Bohn
Larry Bohn is victim number 10 in my ongoing series of offbeat chats with Boston-area tech leaders. Bohn is a managing director of venture capital firm General Catalyst Partners, which he joined almost 15 years ago after running two software companies that he took public. Bohn invests in business software startups, mainly in e-commerce and … Continue reading “Veering Off Topic With General Catalyst’s Larry Bohn”
DraftKings Nabs $100M While Awaiting FanDuel Merger Approval: Report
[Updated 3/17/17, 9:26 a.m. See below.] DraftKings has raised more than $100 million in a new funding round, according to a report from Bloomberg. The Boston-based online fantasy sports company confirmed to Xconomy that it closed a Series E1 funding round led by Eldridge Industries, but the e-mailed statement from DraftKings didn’t specify the size … Continue reading “DraftKings Nabs $100M While Awaiting FanDuel Merger Approval: Report”
Toyota and Others Enabling Self-Driving Cars to Talk to Each Other
Drivers have plenty of ways to communicate with their fellow drivers, beyond the basic turn signal. Some methods are nice, like a friendly wave to beckon a merging car into your lane. Others, not so much. We’ve all probably cursed or honked at another driver, or been given the finger. But if driverless cars become … Continue reading “Toyota and Others Enabling Self-Driving Cars to Talk to Each Other”
NVBots Spinout Digital Alloys Raises $5M for Metal 3D Printer
There’s a new 3D printing company in town, but it’ll feel familiar to those who follow the Boston-area 3D printing sector. New Valence Robotics, which goes by NVBots, has spun out the metal-making 3D printer technology it was developing into a new company called Digital Alloys. The new firm was formed in January, and today … Continue reading “NVBots Spinout Digital Alloys Raises $5M for Metal 3D Printer”
With Sale to CA Technologies, Veracode Will “Cast Longer Shadow”
The shortlist of Boston-area tech companies on deck for an initial public offering got shorter after Monday’s announcement that Veracode has agreed to be sold to CA Technologies for $614 million in cash. The 11-year-old Veracode, which helps businesses secure and test their software applications, had raised around $150 million in venture capital, according to … Continue reading “With Sale to CA Technologies, Veracode Will “Cast Longer Shadow””
Boston Tech Watch: Bose, LearnLaunch, Fuze, Boston Dynamics, & More
It’s time to catch up on some recent happenings in the Boston tech scene. This week, we’re tracking a lawsuit against headphone giant Bose, a new robot from Boston Dynamics, local edtech startup funding, and more. Read on for details. —Six portfolio companies of the LearnLaunch edtech startup accelerator recently raised funding rounds totaling almost … Continue reading “Boston Tech Watch: Bose, LearnLaunch, Fuze, Boston Dynamics, & More”
Examity Grabs $21M for Online Test Proctoring Services
Examity, which offers remote proctoring services for tests that students take online, has received a $21 million investment. The money comes from two New York-based investment firms, University Ventures and Inherent Group, according to a press release e-mailed to Xconomy. The news was first reported by the Boston Business Journal. Based in Natick, MA, Examity … Continue reading “Examity Grabs $21M for Online Test Proctoring Services”
Amazon’s Alexa Opens New Path for Earplay’s Interactive Audio Stories
The woman has been anxious since the moment she sat down at my table in the restaurant. I’ve never seen her before in my life, but she just handed me a small vial of some unknown, green liquid. It’s slightly warm to the touch. “She begins to move away, and you figure you’ve only got … Continue reading “Amazon’s Alexa Opens New Path for Earplay’s Interactive Audio Stories”
Wall Street Bets $50M on Kensho’s A.I. Investing Tools
As artificial intelligence begins creeping into virtually every industry, it makes sense that Wall Street would be one of the first places where it makes an impact—there’s a ton of data to crunch, and money to be made if software can help make better decisions more quickly. Kensho Technologies is one of the startups gaining … Continue reading “Wall Street Bets $50M on Kensho’s A.I. Investing Tools”
Celect Grabs $10M for Retail Inventory Software Based on MIT Tech
Celect has raised $10 million to help retailers manage their inventory using machine learning tools originally developed at MIT. The Series B round was led by Activant Capital, with contributions from Fung Capital and August Capital. Celect previously raised at least $5.2 million from investors, according to SEC filings. Celect’s cloud-based software uses predictive analytics … Continue reading “Celect Grabs $10M for Retail Inventory Software Based on MIT Tech”
Medisafe Takes In $14.5M to Help Patients Manage Medications
[Updated 3/1/17, 9:35 a.m. See below.] Prescriptions can be complicated and confusing, especially for patients taking more than one set of pills. But when people don’t properly follow their prescription plans, it can lead to deteriorating health, additional hospital visits, and potentially life-threatening episodes. The costs are high for the healthcare industry, too. Studies have … Continue reading “Medisafe Takes In $14.5M to Help Patients Manage Medications”
Underscore.VC Co-founder C.A. Webb Departs Venture Firm
C.A. Webb is leaving Underscore.VC, the Boston early-stage venture firm that she helped start less than two years ago. Webb, Underscore’s co-founder and community partner, announced her departure in a Medium post on Monday. She attributed the move to the evolution of the firm, to the point that it is no longer the right fit for her. … Continue reading “Underscore.VC Co-founder C.A. Webb Departs Venture Firm”
Boston Tech Watch: Amazon Expansion, Neurotech Acquisition & More
This week in Boston tech, we’re catching up on the latest real estate deals—including Amazon’s new digs, funding and acquisition news, and people on the move. Read on for details. Office Space —Let’s start with new office deals. The biggest one: Amazon is expanding to Boston’s Back Bay neighborhood, leasing space at WeWork’s new coworking … Continue reading “Boston Tech Watch: Amazon Expansion, Neurotech Acquisition & More”
Insurance Marketplace EverQuote Gets $13M More as Growth Accelerates
Fast-growing online insurance marketplace EverQuote has tacked on $13 million to its previously announced Series B funding round, bringing the total amount to $36 million. The additional money comes from new investor Second Alpha and earlier backer Stratim Capital, a spokesman said in an e-mail to Xconomy. The funding update was included in a press … Continue reading “Insurance Marketplace EverQuote Gets $13M More as Growth Accelerates”
Seventh Sense Gets Initial FDA Clearance for Simple Blood-Draw Device
[Corrected 2/23/17, 12:44 pm. See below.] Seventh Sense Biosystems says it has received FDA clearance to begin marketing TAP, a device intended to make blood draws quick and painless. It’s the Medford, MA-based company’s first product approved for sale by the federal agency. Seventh Sense says its small, disposable devices can make blood collection more convenient … Continue reading “Seventh Sense Gets Initial FDA Clearance for Simple Blood-Draw Device”
Voysis Nabs $8M, Adds to Boston’s Growing Voice Tech Cluster
The disembodied voices are coming. You probably know Siri, Alexa, and Cortana, but in the not-so-distant future every company and brand could have its own virtual assistant that you can talk to. A startup called Voysis wants to help make that happen, and now the Dublin-based company has a lot more cash to advance its … Continue reading “Voysis Nabs $8M, Adds to Boston’s Growing Voice Tech Cluster”
Boston, NY Tech Job Growth Hits 5-Year Low, as Amazon Keeps Expanding
The hiring pace among Boston and New York software companies has slowed to a crawl, amid a broader downshift in the tech industry. During the fourth quarter of last year, the two tech hubs saw their weakest job growth in the past five years. That’s according to a quarterly study compiled by John Barrett, a … Continue reading “Boston, NY Tech Job Growth Hits 5-Year Low, as Amazon Keeps Expanding”
Boston Tech Watch: Nuance, Gamalon, Grapevine, Data3Sixty & More
Here are some notable recent deals made by Boston-area tech companies: —Burlington, MA-based Nuance Communications (NASDAQ: [[ticker:NUAN]]) has acquired mCarbon, a Noida, India-based provider of telecommunications products and services, for an estimated $36 million in cash and stock, according to a report by The Economic Times. —Boston-based Grapevine has sold a majority stake in the … Continue reading “Boston Tech Watch: Nuance, Gamalon, Grapevine, Data3Sixty & More”
Mylestone Grabs $2.5M to Deliver Memories Via Amazon Alexa Devices
Amazon’s voice-enabled smart speakers can order a pizza, play your favorite song on command, set timers, and do plenty of other ordinary tasks. Now, Boston startup Mylestone aims to help make Alexa your personal memory bank. The company has created a new “skill” for Alexa—that’s Amazon’s term for the growing library of software tools built … Continue reading “Mylestone Grabs $2.5M to Deliver Memories Via Amazon Alexa Devices”
After $104M Round, Fuze Names New CEO, Shifts Co-Founder to Chairman
Eight days after Fuze announced a $104 million funding round, the Boston-area communications software firm has replaced its founding CEO. Steve Kokinos, who co-founded Fuze in 2005, will now serve as executive chairman. The company has appointed Colin Doherty as CEO, according to an announcement Thursday. Fuze’s other founder, Derek Yoo, will remain the company’s … Continue reading “After $104M Round, Fuze Names New CEO, Shifts Co-Founder to Chairman”
Katie Rae Wants MIT’s The Engine to Build “World-Changing” Companies
Katie Rae has been tapped to run The Engine, an ambitious startup-support initiative launched by MIT that combines a venture fund, an accelerator program, and access to workspace and business services. On Monday, Rae was named The Engine’s president and CEO, as well as managing partner of its venture fund. Rae is well known in … Continue reading “Katie Rae Wants MIT’s The Engine to Build “World-Changing” Companies”
Veering Off Topic With Rapid7 CEO Corey Thomas
It’s time to revive my ongoing series of executive interviews that take a bit of a left turn. Next up is Corey Thomas, president and CEO of Rapid7. Thomas has worked at the Boston-based cybersecurity firm (NASDAQ: [[ticker:RPD]]) for almost a decade, and has served as its chief executive since late 2012. The 17-year-old company … Continue reading “Veering Off Topic With Rapid7 CEO Corey Thomas”
Boston Tech Watch: Uber, Zipcar, MassChallenge, Adelphic, Lola & More
Here are some of the latest headlines in the Boston tech scene: Pink slips —We start this week’s roundup with some bad news: layoffs. Bedford, MA-based Progress Software (NASDAQ: [[ticker:PRGS]]) recently announced it would let 450 employees go, which is more than 20 percent of the company’s workforce. The move is part of a restructuring … Continue reading “Boston Tech Watch: Uber, Zipcar, MassChallenge, Adelphic, Lola & More”
Communications Tech Firm Fuze Gulps $104M, Eyes IPO in 2018
Investors just heaped another pile of money on Fuze, already one of the better-funded tech companies in New England. Today, the Cambridge, MA-based software firm announced a $104 million equity investment led by Wellington Management Company. Other investors in the round include Greenspring Associates and earlier Fuze backers Summit Partners, Bessemer Venture Partners, and G20 … Continue reading “Communications Tech Firm Fuze Gulps $104M, Eyes IPO in 2018”
Semyon Dukach Talks Latest Techstars Boston Class, His Last at Helm
[Corrected 2/9/17, 11:45 a.m. See below.] This year’s session of the Techstars Boston startup accelerator will be the last one led by Semyon Dukach. In a blog post published Monday, Dukach unveiled the 13 companies accepted into the latest program and announced that he will be leaving Techstars Boston after this session, his fourth as … Continue reading “Semyon Dukach Talks Latest Techstars Boston Class, His Last at Helm”
Desktop Metal Gets $45M From GV, BMW, & Lowe’s, Preps Product Launch
Desktop Metal is one of the better-funded Boston-area startups without a product on the market. But it plans to change that this year, and now the company has even more cash to help get its initial metal 3D printing system across the finish line. Today, Desktop Metal announced it raised a $45 million Series C … Continue reading “Desktop Metal Gets $45M From GV, BMW, & Lowe’s, Preps Product Launch”
Tesora Bought by Stratoscale in Data Center Tech Consolidation
The deal-making and investment in New England’s enterprise IT sector continues. Today, Stratoscale announced its acquisition of Cambridge, MA-based Tesora, a database-as-a-service provider. Deal terms weren’t disclosed, but the purchase price probably wasn’t huge. Herzliya, Israel-based Stratoscale has raised about $70 million from investors including Battery Ventures, Bessemer Venture Partners, Cisco Investments, Intel Capital, and … Continue reading “Tesora Bought by Stratoscale in Data Center Tech Consolidation”
Robots Might Eat Your Job, But Being Human Could Get You A New One
Robots and artificial intelligence software could eventually render human workers obsolete in virtually every industry, but that shift will likely take at least 30 to 50 years to play out. In the meantime, it’s important to focus on properly preparing people for the jobs that will be available over the next decade or so, and … Continue reading “Robots Might Eat Your Job, But Being Human Could Get You A New One”
Accomplice Shakeup, CoachUp Layoffs, Alexa Lab, & More Boston Tech News
[Updated 2/2/17, 3:47 pm. See below.] Here are some of the latest happenings in the Boston-area tech community: —Chris Lynch and Cort Johnson are leaving Accomplice, and the Cambridge, MA-based early-stage tech venture firm is reportedly growing its San Francisco staff. Accomplice will also consolidate its Boston Syndicates (BOSS) and Maiden Lane (an AngelList syndicate) … Continue reading “Accomplice Shakeup, CoachUp Layoffs, Alexa Lab, & More Boston Tech News”
ClearMotion Absorbs $100M for Tech That Delivers Smoother Car Rides
Investors have poured $100 million into ClearMotion, an MIT spinout that sees opportunity in the shift toward autonomous vehicles. ClearMotion’s Series C funding round was led by J.P. Morgan Asset Management, along with New Enterprise Associates, Qualcomm Ventures, World Innovation Lab, and Eileses Capital. The Woburn, MA-based startup says it has raised more than $130 … Continue reading “ClearMotion Absorbs $100M for Tech That Delivers Smoother Car Rides”
LearnLaunch to Embed Edtech Startups at a New England Prep School
[Corrected 2/6/17, 8:29 am. See below.] In trying to perfect their products, tech entrepreneurs often say it’s crucial to receive direct feedback from their end users. That’s not always simple for education technology startups selling products and services to K-12 schools, which can be slow-moving and have a lot of bureaucracy to overcome. A new … Continue reading “LearnLaunch to Embed Edtech Startups at a New England Prep School”
Carbonite Pays $65M for Double-Take, a Fraction of Its 2010 Cost
[Updated 1/31/17, 7:40 pm. See below.] Carbonite is making more moves to bolster its offerings in cloud backup and data protection. The Boston-based firm (NASDAQ: [[ticker:CARB]]) said it acquired Double-Take Software for $65.25 million, which includes $59.75 million in cash and $5.5 million in the form of about 332,000 shares of Carbonite common stock. The … Continue reading “Carbonite Pays $65M for Double-Take, a Fraction of Its 2010 Cost”