Quantopian, one of Boston’s up-and-coming financial technology startups, got a big endorsement today from a well-known Silicon Valley venture firm. Quantopian said it raised $25 million in a Series C funding round led by Andreessen Horowitz. (Technically it was $25.6 million, per an SEC filing.) Other investors in the round include earlier backers Bessemer Venture … Continue reading “Fintech Startup Quantopian Gets $25M From Andreessen & Others”
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.
Mimecast Gains Momentum Post-IPO, As E-mail Security Threats Surge
Mimecast went public a year ago in a tough IPO environment for tech companies. But the move seems to have worked out well for the e-mail management and security firm. Mimecast’s stock (NASDAQ: [[ticker:MIME]]) didn’t achieve the desired “pop” in price on its first day of trading, but over the past year it has more … Continue reading “Mimecast Gains Momentum Post-IPO, As E-mail Security Threats Surge”
HubSpot Vet Grabs Cash For Crayon to Help Marketers Track Competitors
These days, marketing teams can quickly access lots of nuanced data about their own companies’ sales and marketing operations, thanks to software from firms like Salesforce (NYSE: [[ticker:CRM]]) and HubSpot (NYSE: [[ticker:HUBS]]). But tracking the sales and marketing tactics of their competitors—pricing changes, new product launches, social media strategy, and so on—hasn’t been so easy. … Continue reading “HubSpot Vet Grabs Cash For Crayon to Help Marketers Track Competitors”
GetHuman Arms Itself With $3M to Fight Customer Service Battles
[Updated 11/7/16, 2:51 pm, with CEO comments at end of story.] GetHuman has raised $3 million from investors to boost its new service that fights people’s customer service battles for them. The funding round was led by NextView Ventures and Founder Collective, along with contributions from Operator.VC, Companyon, Correlation Ventures, O’Reilly AlphaTech Ventures (OATV), and … Continue reading “GetHuman Arms Itself With $3M to Fight Customer Service Battles”
What Should Be on the Next President’s Cybersecurity Agenda?
From a hack of Democratic National Committee e-mails to fears that cyber attackers will attempt to interfere with tomorrow’s election, cybersecurity emerged as a crucial theme in this grueling presidential campaign. Neither candidate has said a lot about how he or she would address cybersecurity issues as president, although Hillary Clinton has offered more details … Continue reading “What Should Be on the Next President’s Cybersecurity Agenda?”
Boston Tech Watch: MassChallenge Awards, Startup Funding, & Layoffs
Hard to believe it’s already November. As we get ready to turn the clocks back an hour on Sunday, let’s take a look back at some recent tech news in the Boston area: —At a swanky gala event on Wednesday night, MassChallenge and its partners awarded $1.5 million in grants and prizes to 16 of … Continue reading “Boston Tech Watch: MassChallenge Awards, Startup Funding, & Layoffs”
MIT’s Venture Fund Gains Support, But Raises Questions from VCs
[Updated 11/6/16, 8:37 pm. See below.] Krishna Gupta was still an undergraduate student at MIT when he started his early-stage venture capital firm Romulus Capital in 2008. Seeking mentorship, he says he sent e-mails to professors around campus with the subject line “MIT venture fund.” MIT administrators weren’t thrilled. Gupta says he was contacted by … Continue reading “MIT’s Venture Fund Gains Support, But Raises Questions from VCs”
Resilient Coders Tackles Tech Diversity Issues, One Person at a Time
Growing up in Boston, Steven Julien-Stewart witnessed the gentrification of the city’s neighborhoods, although at the time he didn’t fully understand what was happening—he just knew his neighbors were moving away. “When you’re younger, you’re not thinking about things like rent increases,” the 23-year-old says. “You just see friends disappear.” Julien-Stewart has moved between different … Continue reading “Resilient Coders Tackles Tech Diversity Issues, One Person at a Time”
Join Us at the Broad in 2 Weeks for What’s Hot in Boston Healthtech
How can we bring down skyrocketing healthcare costs? What will doctor visits look like in the future? And how are advances in technology—from software to devices to engineered microorganisms—impacting human health? Join Xconomy in two weeks to explore the answers to these questions and more at What’s Hot in Boston Healthtech, a special afternoon conference … Continue reading “Join Us at the Broad in 2 Weeks for What’s Hot in Boston Healthtech”
Massachusetts Builds Diverse Edtech Sector, Still Seeks Big Wins
Massachusetts has long been known as a hub for both software and education. Now, a growing cluster of companies has emerged at the intersection of those two industries—but the local education technology sector seems to be searching for an identity. A recent study of Massachusetts businesses found more than 400 education-related companies that employ at … Continue reading “Massachusetts Builds Diverse Edtech Sector, Still Seeks Big Wins”
CounterTack Grabs $10M to Expand Endpoint Security Business in Asia
Cybersecurity firm CounterTack announced a fresh $10 million funding round on Tuesday to help it compete in the increasingly crowded sector of security aimed at protecting organizations’ servers, computers, and other so-called “endpoint” devices. Waltham, MA-based CounterTack says it will use the money to expand its business on two fronts: increasing its sales in the … Continue reading “CounterTack Grabs $10M to Expand Endpoint Security Business in Asia”
MIT Raising $150M Venture Fund to Rev “The Engine,” a New Incubator
MIT is investing $25 million in a potentially $150 million venture capital fund and opening a 26,000-square-foot startup space on the edge of its campus. The two investments will jumpstart a broad entrepreneurship initiative, dubbed The Engine, that will provide resources to startups whose technologies typically take lots of time and capital to develop—think biotech, … Continue reading “MIT Raising $150M Venture Fund to Rev “The Engine,” a New Incubator”
Boston Tech Watch: TVision Tracks Eyeballs, Diffeo Grabs Cash, & More
Here are a few of the latest happenings in the Boston-area tech scene: —MIT spinout TVision Insights raised $6.8 million in an investment round led by Accomplice, with contributions from Golden Venture Partners, Jump Capital, Itochu Technology Ventures, and Project 11 Ventures. The Boston-based company uses sensors and software to detect TV viewers’ eyes, in order … Continue reading “Boston Tech Watch: TVision Tracks Eyeballs, Diffeo Grabs Cash, & More”
FanDuel, DraftKings Settle NY Lawsuit, Ending Yearlong Legal Battle
DraftKings and FanDuel have each agreed to pay $6 million to the state of New York to settle allegations of false and deceptive advertising, clearing the final legal hurdle in an almost yearlong dispute with authorities in one of the most lucrative states for the online daily fantasy sports industry. The settlements announced Tuesday mark … Continue reading “FanDuel, DraftKings Settle NY Lawsuit, Ending Yearlong Legal Battle”
From Robo Doctors to Mood Trackers, Emotion Sensing Is Coming
The proliferation of smartphones and wearable devices has enabled people to track all kinds of data about their physical health, from heart rate to steps walked in a day. Now, tech companies have their sights set on helping us—and perhaps others—monitor our mental health. “We’ve gotten very good at quantifying the physical self,” said Affectiva … Continue reading “From Robo Doctors to Mood Trackers, Emotion Sensing Is Coming”
Insurance Marketplace EverQuote Grabs $23M to Goose $100M+ Business
With just $1 million in outside funding from Link Ventures, EverQuote built a $100 million-plus business with 185 employees. Now we’ll see what it can do with another $23 million in the bank. Today the Cambridge, MA-based firm announced a $23 million Series B funding round led by Maryland-based Savano Capital Partners, with contributions from … Continue reading “Insurance Marketplace EverQuote Grabs $23M to Goose $100M+ Business”
Ashton Kutcher Funds Pillar at Forbes Summit, & More Boston Tech News
Boston was star struck this week, as the Forbes Under 30 Summit brought Michael Phelps, Ashton Kutcher, Jessica Alba, Richard Branson, and other big names to town. Besides the usual speeches and panel discussions one would expect at a business conference, the summit also featured musical performances by nationally known artists such as Jason Derulo; … Continue reading “Ashton Kutcher Funds Pillar at Forbes Summit, & More Boston Tech News”
Led by iRobot, Mass. Robotics Cluster Growing, But Sales Still Small
When it comes to robotics companies in the Boston area, there’s iRobot—and then there’s everyone else. A new study found that there are 122 robotics firms in Massachusetts, which employ around 4,700 people in total. Last year, those companies generated $1.6 billion in revenue from robotics products and related services, according to the report. (Some … Continue reading “Led by iRobot, Mass. Robotics Cluster Growing, But Sales Still Small”
As China Invests in Robotics, iRobot and Other Companies Eye Deals
China emerged as a manufacturing powerhouse over the past few decades, thanks in large part to a deep pool of cheap labor. Now, the country is investing heavily in factory automation, and Boston-area robotics companies and their allies smell opportunity. Executives from 11 New England robotics firms will travel to several cities in China later … Continue reading “As China Invests in Robotics, iRobot and Other Companies Eye Deals”
Iora Health Dials Up $75M to Expand Primary Care Clinics
[Updated 10/13/16, 5:33 pm, with CEO comments at end of story.] Investors just pumped $75 million into Iora Health in a fresh round aimed at helping the Boston-based startup expand its primary care practices to more locations and improve the software that helps run them. The Series D round announced today was led by Singapore-based … Continue reading “Iora Health Dials Up $75M to Expand Primary Care Clinics”
Boston Tech Deals: Nokia, Altiostar, Gridco, Virtudent, & More
October has been a busy month for venture capital investments and acquisitions in the Boston area. The latest deals include an acquisition by Nokia, another big round for telecom technology startup Altiostar, and a seed round for a telehealth startup. Read on for details. —Nokia bought Cambridge, MA-based Eta Devices for an undisclosed price. The … Continue reading “Boston Tech Deals: Nokia, Altiostar, Gridco, Virtudent, & More”
Optimus Ride, Fueled by $5.25M, Advances Self-Driving Vehicle Tech
Optimus Ride has received a $5.25 million injection of cash to goose its development of autonomous electric-vehicle technology. The funding round was led by NextView Ventures and FirstMark Capital. The news was reported by TechCrunch and confirmed by NextView in a blog post. The race to deliver reliable self-driving cars is heating up, and the Boston … Continue reading “Optimus Ride, Fueled by $5.25M, Advances Self-Driving Vehicle Tech”
Progress Software, Amid Shift to Cloud, Names 4th CEO in Seven Years
Progress Software, one of the largest and oldest software firms in Massachusetts, has once again changed CEOs. The Bedford, MA-based company (NASDAQ: [[ticker:PRGS]]) said Monday that CEO Phil Pead will retire, and Yogesh Gupta will become chief executive and join the company’s board. Pead will remain a board member. Gupta previously was president and CEO … Continue reading “Progress Software, Amid Shift to Cloud, Names 4th CEO in Seven Years”
Under Former Indiana Gov. Mitch Daniels, Purdue Pumping Out Startups
[Editor’s note: This is part of a series of stories examining tech transfer and innovation initiatives at Indiana colleges and universities.] During the 2012-2013 school year, Purdue University counted eight new startups built on technology licensed from the school. The next year, that number tripled. That’s a significant increase in university spinouts almost overnight, and … Continue reading “Under Former Indiana Gov. Mitch Daniels, Purdue Pumping Out Startups”
Cybric Bags $5M to Automate & Align Cybersecurity Tools
Boston cybersecurity startup Cybric announced $5 million in new funding today, as investors place more bets on tech companies promising to make security tools more sophisticated and unified. Cybric says it closed a $6.3 million seed round. But that amount includes $1.3 million in funding announced in November 2015, a spokeswoman says. Cybric’s main backers … Continue reading “Cybric Bags $5M to Automate & Align Cybersecurity Tools”
Siri Creators Score Again With Viv, Sold to Samsung in A.I. Race
Samsung entered the conversational artificial intelligence fray in a major way Wednesday with its purchase of Viv Labs, a San Jose, CA-based startup led by three of the key people behind virtual assistant Siri. Terms of the deal weren’t disclosed. Viv’s roughly 30 employees will keep their jobs, Recode reported. Viv will work closely with … Continue reading “Siri Creators Score Again With Viv, Sold to Samsung in A.I. Race”
Surviving an Exhausting Basketball Lesson With CoachUp’s CEO: Video
As I step onto the basketball court, I feel a flash of giddiness mixed with a tinge of nervousness. Just like when I was a kid, warming up before a game. I’m dressed in dark silver athletic shorts and a worn-out Marquette University basketball T-shirt with the sleeves cut off. My laptop is stowed in … Continue reading “Surviving an Exhausting Basketball Lesson With CoachUp’s CEO: Video”
Boston Tech Watch: Inclusive Tech, Drones, Layoffs, Alcohol, & More
[Updated 10/3/16, 9:53 am. See below.] It’s hard to believe October is upon us. Before fall gets into full swing, let’s take a look at some of the late September happenings in Boston’s tech sector: —Waltham, MA-based cybersecurity company Carbon Black has filed for an initial public offering, according to a report by The Wall … Continue reading “Boston Tech Watch: Inclusive Tech, Drones, Layoffs, Alcohol, & More”
Boston Tech Deal Roundup: Akamai, Cengage, Mautic, Skedaddle, & More
[Updated 9/30/16, 3:34 pm. See below.] September was a busy month for tech startup funding and acquisition news in the Boston area. Here are a few of the latest deals that you might’ve missed: —Building Engines, a Waltham, MA-based seller of property management software, disclosed in an SEC filing that it raised $26.5 million from … Continue reading “Boston Tech Deal Roundup: Akamai, Cengage, Mautic, Skedaddle, & More”
GE, Allied Minds to Invest in Startups Amid Evolving Funding Market
Startup creation firm Allied Minds announced a partnership Thursday with GE’s venture arm to jointly invest in promising technologies. The deal speaks to broader trends in how companies get formed and funded beyond traditional means like venture capital and the public markets, and where large enterprises fit into that equation. Boston-based Allied Minds is a … Continue reading “GE, Allied Minds to Invest in Startups Amid Evolving Funding Market”
Ginkgo Builds Out Robot Labs as Microbe Design Business Grows: Photos
If Ginkgo Bioworks has its way, robots and software will someday handle most of the genetic engineering work currently performed by scientists sitting at lab benches. Ginkgo is contributing to that shift. Today the synthetic biology company announced an expansion of its headquarters in Boston’s Seaport neighborhood, including a second, larger lab space for designing … Continue reading “Ginkgo Builds Out Robot Labs as Microbe Design Business Grows: Photos”
Lose It’s New Photo Tool Turns Your Food Porn Into Calorie Tracker
Success in the hyper-competitive mobile app industry takes endurance. App makers jockey for a coveted spot on our devices’ tiny screens, but few manage to keep our attention over the long haul. One of those rare app companies with staying power is Boston-based FitNow, parent company of the diet and exercise-tracking app Lose It. It … Continue reading “Lose It’s New Photo Tool Turns Your Food Porn Into Calorie Tracker”
Avecto Expands in Boston as Endpoint Security Gets More Crowded
Earlier this year, Xconomy compiled a list and map of cybersecurity organizations in the Boston area and found 60-plus companies. One that we missed was Avecto, a U.K.-based endpoint security software firm that opened a Massachusetts outpost in 2009, a year after the company was founded. Now Avecto is drawing more attention, both locally and … Continue reading “Avecto Expands in Boston as Endpoint Security Gets More Crowded”
Circulation, Uber Team Up to Get Patients to Doctor’s Appointments
Healthcare providers are starting to embrace consumer technologies, and Boston has emerged as one of the hubs of experimentation. The latest example is Circulation, a startup founded last year and partly incubated at Boston Children’s Hospital. The new venture makes software that manages non-emergency medical transportation for patients, primarily those who are elderly, disabled, or … Continue reading “Circulation, Uber Team Up to Get Patients to Doctor’s Appointments”
Podium Data Downloads $9.5M to Help Businesses Manage, Crunch Data
Software companies have talked for years about making tools for deep data analysis simple enough for most business users, not just seasoned programmers. There are signs those capabilities are materializing—or at least evolving. The latest example is Podium Data, a Lowell, MA-based startup that today announced it raised a $9.5 million Series A round led … Continue reading “Podium Data Downloads $9.5M to Help Businesses Manage, Crunch Data”
Pillar Hires Hodges as Boston VCs Build Community, Boost Diversity
It’s been a dynamic year for the Boston venture capital scene. Several new tech-focused funds have launched, some putting new spins on the traditional VC model. And, it’s worth noting, the firms are assembling diverse leadership teams. The latest example comes from Pillar, which today announced a new partner, Sarah Hodges. Hodges (pictured above) previously … Continue reading “Pillar Hires Hodges as Boston VCs Build Community, Boost Diversity”
SproutsIO Launches Microfarming Device as Indoor Gardens Germinate
The distance from farm to table is now just a few feet, thanks to new systems that allow people to grow food in their kitchen or living room. Last fall, Xconomy covered the launch of a Kickstarter crowdfunding campaign for Somerville, MA-based Grove, a startup out of MIT that developed a product that enables consumers … Continue reading “SproutsIO Launches Microfarming Device as Indoor Gardens Germinate”
Ultimaker Pushes 3D Printers in U.S. With Help of Former Z Corp Exec
The dream of putting a desktop 3D printer in every home hasn’t materialized, despite a lot of hype, and it might still be years away—if it comes at all. “I don’t know if it’s dead as an idea,” says John Kawola, a Boston-based executive with Dutch 3D printing company Ultimaker. “But we don’t spend any … Continue reading “Ultimaker Pushes 3D Printers in U.S. With Help of Former Z Corp Exec”
Boston Tech Watch: Driverless Cars, Stealthy Startups, Deals & More
Fall’s arrival has brought with it a ton of tech news. Here are the latest headlines from the Boston area, spanning self-driving cars, a flurry of startup funding deals, a lawsuit over 3D printer patents, and more. Read on for details. —Self-driving cars will soon be tested on Boston streets as part of a year-long … Continue reading “Boston Tech Watch: Driverless Cars, Stealthy Startups, Deals & More”
Everbridge Stock Jumps Over 20 Percent in Wall Street Debut
Everbridge’s first day as a publicly traded company is in the books: Wall Street investors bid up its stock by more than 20 percent. The Burlington, MA-based company (NASDAQ: [[ticker:EVBG]]) closed at $15.25 per share. That’s 27 percent higher than the company’s initial $12 pricing last night, and it’s nearly 24 percent above the $12.30 … Continue reading “Everbridge Stock Jumps Over 20 Percent in Wall Street Debut”
Everbridge Bags $90M in Boston Area’s Second Tech IPO of 2016
[Updated 9/16/16, 12:24 pm. See below.] The Boston area has already generated more tech IPOs this year than it did in all of 2015. That’s not saying much. Burlington, MA-based Everbridge today became the second Massachusetts tech company to go public in 2016, following networking technology firm Acacia Communications (NASDAQ: [[ticker:ACIA]]). Last year, only one … Continue reading “Everbridge Bags $90M in Boston Area’s Second Tech IPO of 2016”
Greiner Shifts to CyPhy Works CTO, Former Kiva Exec Takes Helm
In a leadership change at a high-profile drone startup in the Boston area, CyPhy Works founder Helen Greiner has stepped aside as CEO and moved into the role of chief technology officer. The startup’s new CEO is Lance Vanden Brook, a former executive with warehouse robotics firm Kiva Systems, now owned by Amazon (NASDAQ: [[ticker:AMZN]]). … Continue reading “Greiner Shifts to CyPhy Works CTO, Former Kiva Exec Takes Helm”
BitSight Nabs $40M as Cybersecurity Ratings Sector Picks Up Steam
BitSight Technologies wasn’t looking to raise more money from investors when GGV Capital came calling in April. The cybersecurity ratings startup still had nearly $20 million stashed in the bank from the Series B funding round it raised in June 2015, says Tom Turner, BitSight’s chief operating officer and president. But BitSight executives decided they … Continue reading “BitSight Nabs $40M as Cybersecurity Ratings Sector Picks Up Steam”
Boston Healthtech Lab Links Startups with Hospitals, Bose, & Others
Pulse@MassChallenge, the new Boston “lab” for healthcare technology startups, revealed more details Wednesday about its strategy and how the program fits into a broader initiative attempting to make Massachusetts the world’s digital health hub. The lab is run by MassChallenge, the Boston-based nonprofit that operates startup accelerator programs around the world. The lab’s inaugural session … Continue reading “Boston Healthtech Lab Links Startups with Hospitals, Bose, & Others”
Accenture-Backed Applause Takes $35M Bow, Expands App Testing Service
Software is at the heart of most interactions between companies and their customers these days, from mobile apps to e-commerce, and beyond. And that has spawned a big industry around the testing of digital products. The latest sign is a fresh $35 million investment in Applause, the Framingham, MA-based provider of digital testing services for … Continue reading “Accenture-Backed Applause Takes $35M Bow, Expands App Testing Service”
3 Startups to Watch From MIT’s Delta V Accelerator
Anyone who thinks they can look at a dozen startups and accurately pick out the one or two that will become successful businesses is kidding themselves. But it’s still fun to try. On Friday, MIT lifted the curtain on 14 student-led teams that worked throughout the summer building technology startups aimed at solving problems in … Continue reading “3 Startups to Watch From MIT’s Delta V Accelerator”
MIT’s Bhatia Refocuses Spotlight on Gender Diversity in Biotech
Sangeeta Bhatia has been talking about the woeful lack of diversity in the life sciences and other high-tech industries since the late 1980s, when she was an undergraduate studying biomedical engineering at Brown University. She thinks the situation is improving, but not nearly fast enough. “I think the statistics are all getting better. What I … Continue reading “MIT’s Bhatia Refocuses Spotlight on Gender Diversity in Biotech”
SessionM Snags $35M From General Atlantic, Salesforce, & Others
It’s a busy week for mobile tech in the Boston area. After text-messaging app firm HeyWire was sold to Salesforce, now comes mobile-marketing startup SessionM announcing it has received a $35 million investment. The “strategic growth” round was led by General Atlantic. New investor Salesforce Ventures also contributed, along with previous backers Causeway Media Partners, … Continue reading “SessionM Snags $35M From General Atlantic, Salesforce, & Others”
Salesforce Buys HeyWire to Help Businesses Reach Customers Via SMS
Salesforce has made another Boston-area acquisition, scooping up HeyWire in a deal that underscores the growing importance of mobile messaging among the ways that businesses communicate with customers. The deal’s terms weren’t disclosed, but it’s surely much smaller than the $2.8 billion that San Francisco-based Salesforce (NYSE: [[ticker:CRM]]) paid earlier this year for Burlington, MA-based … Continue reading “Salesforce Buys HeyWire to Help Businesses Reach Customers Via SMS”
Boston Tech Watch: GE, PillPack, Tech IPOs, Lola, Amazon, & More
[Updated 9/8/16, 4:46 pm. See below.] This week in Boston tech, we’re tracking the prospects for the state’s second tech IPO of the year, GE’s investments in 3D printing, new investments in pharmacy technology, software talent on the move, and more. Read on for details. —Online pharmacy and medication-management firm PillPack has raised $31.1 million … Continue reading “Boston Tech Watch: GE, PillPack, Tech IPOs, Lola, Amazon, & More”