For the cybersecurity industry, 2016 is shaping up to be the year of alliances. There have been a series of tie-ups, as security-tech companies try to boost their businesses and amplify their products via acquisitions. IBM bought Resilient Systems, Cisco Systems snapped up CloudLock, Symantec acquired Blue Coat, and Carbon Black purchased Confer, to name … Continue reading “New Cybersecurity Alliance Continues Trend of Industry Collaboration”
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.
DraftKings Grabs $153M From Revolution Growth, Other Backers
Fresh off the legalization of online daily fantasy sports in New York and Massachusetts, investors have poured another $153 million into DraftKings. The massive funding round was first reported by Fortune. A DraftKings spokeswoman confirmed the investment in an e-mail to Xconomy. The investors include new backer Revolution Growth. That Washington, DC-based venture firm was co-founded … Continue reading “DraftKings Grabs $153M From Revolution Growth, Other Backers”
Sense Absorbs $14M to Monitor Appliances, Power Home Automation
The arrival of the truly smart home—with a legion of Internet-connected appliances and other devices automatically handling tasks while communicating with each other and us—is likely years away. But Mike Phillips isn’t waiting around. His startup, Sense, sees an opportunity to play a role in enabling home automation by constantly measuring the activity of any … Continue reading “Sense Absorbs $14M to Monitor Appliances, Power Home Automation”
Boston Tech Watch: Dell-EMC, Wayfair, Monster, GE, Harvard, & More
There was lots of Boston-area tech news during the past few days, but we’ve got it covered. Read on for details on the closing of the Dell-EMC deal, trouble for Monster’s proposed sale, a pair of big funding rounds, a GE donation to MIT, Bridj’s robotics play, and more. Acquisitions —It’s finally happening: Dell’s proposed merger with EMC … Continue reading “Boston Tech Watch: Dell-EMC, Wayfair, Monster, GE, Harvard, & More”
With Cash From Generac & Others, Tank Utility Makes Fuel Tanks Smart
Over the past few years, a significant number of the meter devices that measure electricity, water, and natural gas usage have been connected to the Internet. Now, fuel tanks are getting smart, too. Tank Utility is one of the companies that makes devices that remotely monitor the fuel level in propane and heating oil tanks, … Continue reading “With Cash From Generac & Others, Tank Utility Makes Fuel Tanks Smart”
Veering Off Topic With ezCater CEO Stefania Nappi Mallett
It’s time for another installment of my ongoing series of executive interviews that take a bit of a left turn. Next up is Stefania Nappi Mallett, CEO of Boston-based online food-ordering company ezCater. Her company’s industry has gotten crowded over the past several years, particularly among mobile app startups that deliver food to individuals. But … Continue reading “Veering Off Topic With ezCater CEO Stefania Nappi Mallett”
Uber’s $100M Settlement Rejected, Contractor Debate Could Go to Trial
A judge’s rejection of a settlement between Uber and hundreds of thousands of drivers in California and Massachusetts reopens the possibility that a jury might decide a question at the core of the ride-hailing app juggernaut’s business model—whether drivers should be classified as employees or independent contractors. Uber agreed in April to pay up to … Continue reading “Uber’s $100M Settlement Rejected, Contractor Debate Could Go to Trial”
Boston Tech: Autism Funding, Acacia Soars, 3D-Printed Violin & More
This week in Boston tech highlights, we’ve got funding for an autism technology startup, Wall Street showing lots of love for the area’s only tech IPO of 2016, the expansion of a local coding bootcamp, a 3D-printed violin, and more. Read on for details. —The Affinity Project, an autism-related technology startup doing business as Sidekicks, … Continue reading “Boston Tech: Autism Funding, Acacia Soars, 3D-Printed Violin & More”
3D Printing Startup NVBots Nabs Cash & New CEO, Moves Into Metal
Boston-based 3D printing startup New Valence Robotics announced it has raised more money from investors and brought in a new CEO to help build the business, while its founding CEO turns his attention to commercializing a new product for the company. Swiss firm Woodman Asset Management led the Series A investment in the startup, which … Continue reading “3D Printing Startup NVBots Nabs Cash & New CEO, Moves Into Metal”
Cambridge Sound Aims to Turn Up the Volume on Office Sound Masking
When prospective customers visit the offices of Cambridge Sound Management for a demonstration of the company’s product, they experience it as soon as they walk through the doors. But they don’t notice it—and that means the product is working. Cambridge Sound Management makes “sound masking” devices that attach to the ceiling and emit barely perceptible … Continue reading “Cambridge Sound Aims to Turn Up the Volume on Office Sound Masking”
Techstars Alum AirFox Adds to Boston’s Sponsored Data Cluster
Silicon Valley rules most areas of high tech in the U.S., but Boston can make a case that it’s the epicenter of the emerging “sponsored data” sector, with a handful of startups powering services that give smartphone users free Internet access if they interact with ads or use a sponsor’s app or website. Three Boston-area … Continue reading “Techstars Alum AirFox Adds to Boston’s Sponsored Data Cluster”
Olympics Streaming, Uber Law, Exec Turnover & More Boston Tech News
In our latest recap of recent Boston tech headlines, we’ve got stats about Olympics online viewing, the latest development in local regulations of Uber and Lyft, a trio of acquisitions, and recent executive departures. Read on for details. —If you’re one of the more than 1 million people that have watched at least part of … Continue reading “Olympics Streaming, Uber Law, Exec Turnover & More Boston Tech News”
Rose-Hulman Ventures Boosts Indiana Startups With Student R&D Teams
[Editor’s note: This story is part of a series examining tech transfer and innovation initiatives at Indiana colleges and universities.] A temperature-controlled, pressurized dispenser of liquid chocolate; a WiFi-enabled garbage bin that sends electronic alerts when it needs emptying; a medical tool that helps guide placement of other equipment during brain surgery. Those items are … Continue reading “Rose-Hulman Ventures Boosts Indiana Startups With Student R&D Teams”
Comcast, VCs Pour $56M Into Virtual-Assistant Firm Interactions
Here’s an interesting trend worth watching: investors are pumping money into a variety of technologies aimed at improving businesses’ customer service operations. It’s not the sexiest of industries, perhaps, but we’ll all be thankful if these bets help smooth out what’s typically a frustrating and time-consuming experience for consumers. What’s even more compelling is the … Continue reading “Comcast, VCs Pour $56M Into Virtual-Assistant Firm Interactions”
As Monster Gets Eaten by Dutch Firm Randstad, a Dot-Com Pillar Falls
Another dot-com era relic has been acquired for a pittance compared with what it was worth in its heyday. Monster Worldwide (NYSE: [[ticker:MWW]]), the parent company of job search website Monster.com, has agreed to be snapped up for $429 million by Randstad Holding, an Amsterdam-based firm that provides staffing and other human resources services. Under … Continue reading “As Monster Gets Eaten by Dutch Firm Randstad, a Dot-Com Pillar Falls”
FanDuel, DraftKings Return to NY as Fantasy Sports Laws Proliferate
The future of the online daily fantasy sports industry seemed in jeopardy toward the end of last year, after an insider trading-like scandal prompted intense scrutiny and triggered efforts nationwide to regulate or even shut down the companies in some states, like New York. What a difference a few months make. New York Gov. Andrew … Continue reading “FanDuel, DraftKings Return to NY as Fantasy Sports Laws Proliferate”
Alcohol Delivery Firm Drizly Gulps $15M to Fend Off Amazon, Startups
In some ways, Drizly’s mobile app-enabled alcohol shopping service is so ’90s. “It’s going to sound kind of boring … but what we’re doing is very tech 1.0,” says Nick Rellas, Drizly’s co-founder and CEO. “We’re bringing a world of over $100 billion a year [in alcohol sales] that is almost entirely physically based, onto … Continue reading “Alcohol Delivery Firm Drizly Gulps $15M to Fend Off Amazon, Startups”
Israeli-Born CyberX Nabs $9M to Guard Industrial Internet of Things
[Updated 8/3/16, 9:04 p.m., with information from the CEO.] Another Boston-area cybersecurity firm with Israeli ties is making a splash. CyberX announced Tuesday it raised $9 million from investors. The company got started in Tel Aviv in 2013 and later opened an office in California, according to a VentureBeat article from 2014. Earlier this year, the … Continue reading “Israeli-Born CyberX Nabs $9M to Guard Industrial Internet of Things”
Empty-Handed Again, MA Noncompete Reformers Seek More Progress
After another Massachusetts legislative session ended without passage of noncompete reform, stakeholders on both sides of the issue expressed disappointment that a deal didn’t get done. It’s not the outcome anyone wanted—or so they say—but that alone is evidence of how the debate shifted during the latest attempt to make changes to the state’s rules … Continue reading “Empty-Handed Again, MA Noncompete Reformers Seek More Progress”
Robotic Kitchens, Sports Apps, Hedge Fund Bets & More Boston Tech
[Updated 8/2/16, 3:18 p.m. See below.] We’ve officially entered the dog days of summer, although it already felt like that with the recent heat wave. Now that temperatures in Boston have cooled down a little, take a moment to catch up on some recent local tech headlines that you might’ve missed: —In one of the … Continue reading “Robotic Kitchens, Sports Apps, Hedge Fund Bets & More Boston Tech”
Massachusetts Passes Uber Bill; Noncompete & Airbnb Proposals Fail
In a frenetic end to the Massachusetts legislative session, state lawmakers worked throughout the weekend and past a midnight deadline Sunday to send several bills to Gov. Charlie Baker’s desk. But for three proposals with implications for the state’s tech sector, inaction mostly ruled. House and Senate lawmakers couldn’t agree on a compromise to iron … Continue reading “Massachusetts Passes Uber Bill; Noncompete & Airbnb Proposals Fail”
Indiana University Plans Alumni Venture Fund, Taps Partnerships
Tony Armstrong recognizes the importance of forging alliances. It’s a core part of his job as the president and CEO of Indiana University’s Research and Technology Corporation—the university’s tech transfer arm—and as the assistant vice president in the Office of the Vice President for Engagement. Armstrong says partnerships are especially key to advancing innovation and … Continue reading “Indiana University Plans Alumni Venture Fund, Taps Partnerships”
Boston-Power Vets Take New Approach With Battery Startup Cadenza
Christina Lampe-Onnerud has found it much easier to get a foot in the door with partners and potential customers for her second lithium-ion battery startup, Cadenza Innovation, than for her first, Boston-Power. Maybe that’s because the advanced battery market has matured since she started Boston-Power in 2005. The industry has grown to about 100 lithium-ion … Continue reading “Boston-Power Vets Take New Approach With Battery Startup Cadenza”
Analog Devices Buys Linear for $14.8B as Boston Tech Plays Dealmaker
A lot of California tech companies have gobbled up Boston-area firms over the years, often leaving local advocates lamenting the loss of yet another headquarters or anchor tech company. On Tuesday it was the reverse. Boston-based LogMeIn (NASDAQ: [[ticker:LOGM]]) announced plans to scoop up its rival GoTo business from Santa Clara, CA-based Citrix Systems (NASDAQ: [[ticker:CTXS]]) … Continue reading “Analog Devices Buys Linear for $14.8B as Boston Tech Plays Dealmaker”
LogMeIn Grabs Citrix’s Rival Collaboration Tools in $1.8B Merger
LogMeIn plans to join forces with a division of rival Citrix Systems in a $1.8 billion deal aimed at creating a juggernaut in the world of cloud-based business software. For much of its 13-year history, Boston-based LogMeIn (NASDAQ: [[ticker:LOGM]]) has been best known for cloud software that allows employees and IT service providers to remotely … Continue reading “LogMeIn Grabs Citrix’s Rival Collaboration Tools in $1.8B Merger”
Boston Tech Watch: Dell-EMC, Codeship, Compete Job Cuts & More
We’ve got lots of Boston tech news to catch up on from the past week, including a crucial step for the Dell-EMC merger, new venture capital deals, job cuts, and executives on the move. Read on for details. Grabbing cash —Boston-based Codeship announced Tuesday it raised $7 million in a Series A funding round led … Continue reading “Boston Tech Watch: Dell-EMC, Codeship, Compete Job Cuts & More”
New York’s B12 Continues Trend of “Human-Assisted A.I.” Startups
For years, critics have viewed artificial intelligence technologies as an existential threat to human workers’ jobs (if not our lives, but that’s a whole other debate). But with the latest wave of A.I. startups, some entrepreneurs are aiming for a middle ground where humans team up with A.I. programs to take advantage of each other’s … Continue reading “New York’s B12 Continues Trend of “Human-Assisted A.I.” Startups”
Merck, Amgen Invest in Akili as Therapeutic Video Game Moves Ahead
Akili Interactive Labs, the Boston startup developing mobile video games that aim to assess and treat various cognitive disorders, today picked up more cash and endorsements from big pharma backers as the worlds of software and medicine continue to merge. Akili announced it tacked on $11.9 million to its recent Series B funding round, bringing … Continue reading “Merck, Amgen Invest in Akili as Therapeutic Video Game Moves Ahead”
Rize Emerges With 3D Printer That Makes Easily Refined Parts
A startup’s struggle to stand out in a crowded industry can sometimes get a lift from a distinguishing product feature or the decision to focus on solving a specific problem. That theory will be put to the test with Rize. Today the Boston-area 3D printing startup unveiled what it’s been working on for more than … Continue reading “Rize Emerges With 3D Printer That Makes Easily Refined Parts”
Boston Tech Watch: Noncompetes, Funding Blitz, Battery Tech & More
As the weather heats up in the Boston area today, stay cool with the latest local tech headlines: —The Massachusetts Senate passed a bill that puts stronger limits on noncompete agreements than a related bill passed earlier by the House. The Senate version caps noncompetes at three months and requires employers to pay the departed … Continue reading “Boston Tech Watch: Noncompetes, Funding Blitz, Battery Tech & More”
True Fit Nabs $25M to Make Online Shopping More Personal
Shopping is getting more personal, as retailers and brands try to use data analytics to deliver curated and targeted product recommendations to consumers online—and ideally boost sales. The latest example is True Fit, a Woburn, MA-based software company that has amassed millions of data points on the fit and style of shoes and clothing products, … Continue reading “True Fit Nabs $25M to Make Online Shopping More Personal”
Boston Tech Watch: Bain, New Google Project, Desktop Metal & More
In recent Boston tech news, Bain Capital Ventures reloaded its coffers for early-stage tech investments. Android co-founder Rich Miner is working on a new project at Google. Several startups scooped up more cash, including 3D printing firm Desktop Metal. And a healthtech company changed hands. Read on for details. —Bain Capital Ventures closed on a … Continue reading “Boston Tech Watch: Bain, New Google Project, Desktop Metal & More”
Promethean Founder Returns From India With Lessons For Entrepreneurs
When Promethean Power Systems’ founders wrote the original business plan for their cleantech startup at MIT, they intended to sell their products in India first. But none of them had ever set foot on Indian soil. After winning $10,000 as the runner-up in the MIT $100K pitch competition in 2007, co-founders Sorin Grama and Sam … Continue reading “Promethean Founder Returns From India With Lessons For Entrepreneurs”
After Quickly Raising $11M, BevSpot Aims For Smart, Rapid Growth
Somebody forgot to tell BevSpot it’s supposed to be getting hard to raise venture capital right now. The Boston-based startup, which makes software for bars and restaurants, just nabbed $11 million in a Series B round led by previous backer Bain Capital Ventures. The deal came together quickly—about six weeks from the first conversation to … Continue reading “After Quickly Raising $11M, BevSpot Aims For Smart, Rapid Growth”
BevSpot, With Harvard & MIT Roots, Grabs More Cash For Bar Software
[Updated 7/7/16, 9:19 a.m., with information from BevSpot press release and CEO interview.] BevSpot, a Boston-based startup that makes software that helps bars and restaurants manage inventory and analyze sales and operations data, has ordered up another round of investment dollars. In a new SEC filing, BevSpot says it raised $11 million in equity funding. … Continue reading “BevSpot, With Harvard & MIT Roots, Grabs More Cash For Bar Software”
Harvard Startup HourlyNerd Taps $22M as World of Work Evolves
The global workforce is in the early stages of a shift away from traditional 9-to-5 office jobs and toward more flexible freelance work, thanks to new technologies and preferences among younger workers. The question is what a typical career will look like when the dust settles in the next decade or so. Will full-time jobs … Continue reading “Harvard Startup HourlyNerd Taps $22M as World of Work Evolves”
Boston Tech Watch: HourlyNerd, Uber, Noncompetes, Akamai, & More
We hope everyone enjoyed the long holiday weekend. After all the fireworks last night, it’s time to catch up on some of the hot news in Boston-area tech from the past week: —Boston-based HourlyNerd said Tuesday it raised $22 million in a Series C round led by General Catalyst Partners, with contributions from Highland Capital … Continue reading “Boston Tech Watch: HourlyNerd, Uber, Noncompetes, Akamai, & More”
Google Capital Backs Public Firm Care.com as Investment Lines Blur
[Corrected 6/30/16, 2:49 p.m. See below.] Google Capital’s $46.35 million investment in publicly traded Care.com, announced Wednesday, marked a departure from the firm’s usual bets on late-stage private companies and illustrated how the traditional lines in the venture capital world are being redrawn. Care.com (NYSE: [[ticker:CRCM]]) is the first investment in a public firm by … Continue reading “Google Capital Backs Public Firm Care.com as Investment Lines Blur”
Scott Dorsey Reflects on ExactTarget & the Rise of Indianapolis Tech
The expertise and guidance of a savvy mentor can change the fortunes of a startup. Bob Compton was that person for ExactTarget, says co-founder and former CEO Scott Dorsey. Compton—an IBM veteran, successful investor, and one of the godfathers of Indianapolis’s burgeoning tech community—was ExactTarget’s lead investor and its chairman in the early 2000s, when … Continue reading “Scott Dorsey Reflects on ExactTarget & the Rise of Indianapolis Tech”
Boston Tech News: Funding, Fantasy Sports, Co-working Spaces & More
[Updated 6/27/16, 2:13 p.m., to include Hack/secure news.] It’s time to catch up on a few recent developments in the Boston tech world. We’ve got funding news, the latest on the DraftKings saga in New York, shuttered co-working spaces, and people on the move. Read on for details. —Accomplice’s Chris Lynch and Cort Johnson have formed an … Continue reading “Boston Tech News: Funding, Fantasy Sports, Co-working Spaces & More”
Google Fiber Buys Webpass in Wireless Internet Land Grab
Google Fiber plans to acquire Webpass in a deal that trims the ranks of independent Internet service providers—an industry already maligned for its lack of competition—but ultimately could boost consumer access to high-speed Internet. San Francisco-based Webpass has spent the past 13 years working to bring ultra-fast wireless Internet access to homes (primarily large apartment … Continue reading “Google Fiber Buys Webpass in Wireless Internet Land Grab”
Downplaying Bitcoin, Circle Downloads $60M For China, Europe Push
Circle Internet Financial aims to make transferring money to a friend across town or on the other side of the world as easy as sending a text message. That plan got a big boost with Wednesday’s announcement of a $60 million windfall from mostly Chinese investors and the formation of a Beijing-based venture that will … Continue reading “Downplaying Bitcoin, Circle Downloads $60M For China, Europe Push”
Boston Cybersecurity Firms Grab Cash, Protect Turf, Push Community
A few recent moves by Boston-area cybersecurity firms illustrate the various ways the sector’s members (and related companies) are trying to build their businesses and bolster measures to counter cyber threats: —Raising more cash: On Tuesday, Zerto said it tacked $20 million onto a $50 million growth financing round announced in January. The new investment was … Continue reading “Boston Cybersecurity Firms Grab Cash, Protect Turf, Push Community”
Veering Off Topic With Accion Systems CEO Natalya Brikner
Next up in my ongoing series of unusual interviews with local tech leaders is Natalya Brikner—space technology researcher, entrepreneur, aspiring pilot, ruthless scheduler, and lover of camping. Those are just a few of the traits I learned about Brikner in our wide-ranging conversation, which was probably the wackiest yet in the series. (I never thought … Continue reading “Veering Off Topic With Accion Systems CEO Natalya Brikner”
Boston Tech Watch: DraftKings, Demandware, Startup Shutdown & More
This week in Boston tech, we’re tracking DraftKings merger rumors, the aftermath of the Salesforce-Demandware deal, a startup closure, new venture funding, money for cybersecurity education, and an expanding accelerator located outside the Boston area. Read on for details. —Rumors swirled this week that the two biggest online daily fantasy sports companies—Boston-based DraftKings and New … Continue reading “Boston Tech Watch: DraftKings, Demandware, Startup Shutdown & More”
Deathtech Startup Mylestoned Snaps Up Heirloom’s Photo-Capturing App
Mylestoned, a young Boston startup aiming to develop a more interactive and meaningful way of digitally memorializing the dead, has acquired the photo-scanning technology of Heirloom, a small San Francisco firm. Heirloom created an app for digitizing paper photos. The app uses a smartphone’s camera to quickly scan the photo, and then its software edits … Continue reading “Deathtech Startup Mylestoned Snaps Up Heirloom’s Photo-Capturing App”
With $8M Zaius Deal, Underscore.VC Makes Another Marketing Tech Bet
Underscore.VC, one of the new Boston investment firms trying to put a fresh spin on the typical venture capital model, is starting to make more noise with its debut $75 million fund. Underscore recently led an $8 million investment in Boston marketing technology startup Zaius, which marks the second investment publicly disclosed by Underscore. (The … Continue reading “With $8M Zaius Deal, Underscore.VC Makes Another Marketing Tech Bet”
OceanGate Leads Underwater Expedition to “Mount Everest” of Shipwrecks
The first manned submersible mission in two decades to the Andrea Doria shipwreck located off the New England coast—a treacherous dive considered the underwater equivalent of climbing Mount Everest—has produced the first close-up sonar images of the vessel. The early findings? The ship’s deterioration appears worse than previously thought, as a chunk of the bow … Continue reading “OceanGate Leads Underwater Expedition to “Mount Everest” of Shipwrecks”
Microsoft Buys LinkedIn for $26.2B in Mega Social-Business Deal
Microsoft will acquire LinkedIn in a $26.2 billion cash deal that bolsters the tech giant’s offerings for professionals and shrinks the ranks of the major independent social networks. Over the past 14 years, LinkedIn (NYSE: [[ticker:LNKD]]) built the go-to online networking tool for professionals—it has more than 433 million members worldwide—and became one of the … Continue reading “Microsoft Buys LinkedIn for $26.2B in Mega Social-Business Deal”
Perkins School for the Blind Pushes Into Apps, Driverless Cars
Perkins School for the Blind has a long history of breaking new ground, from becoming America’s first school for blind people in 1829, to creating a more effective and durable braille-writing machine in the mid-20th century. Now, under the leadership of Dave Power, the Boston-area school is exploring new ways of improving the lives of … Continue reading “Perkins School for the Blind Pushes Into Apps, Driverless Cars”