This week in Boston tech, we saw investors back software plays in eSports, real estate, and furniture for urban millennials; layoffs at a “sharing economy” pioneer; the return of a startup accelerator; and a first look at elegant connected speakers from serial entrepreneur Tom DeVesto’s new company. Read on for details. —Buildium said it received … Continue reading “Cheers, Groans, & Tunes: Boston Tech’s Week of Mixed Emotions”
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.
Techstars Alum Netra Nabs Funding, Customers After Strategy Shift
Computer vision might one day enable things like completely autonomous cars, but for now, companies are more frequently applying such technology to more tractable (and lucrative) problems in sectors like marketing and e-commerce. The latest example is Netra, a nearly three-year-old Boston startup that today announced $1.85 million in new venture funding led by Launchpad … Continue reading “Techstars Alum Netra Nabs Funding, Customers After Strategy Shift”
Ginkgo Gulps $100M to Build Synthetic Food, Fragrance Business
Ginkgo Bioworks sits at the intersection of synthetic biology, software, robotics, and advanced manufacturing, making it one of the more intriguing startups in Boston. Now, a fresh round of $100 million in venture capital also makes it one of the area’s biggest technology bets. Ginkgo has raised $154 million from investors since March 2015. The … Continue reading “Ginkgo Gulps $100M to Build Synthetic Food, Fragrance Business”
Boston-Israel Connection Rising: 200-Plus Firms, 9K Jobs, $9B Sales
Anyone paying attention to high-tech businesses in Massachusetts knows there’s a strong connection between the Bay State and Israel. Over the years, dozens of Israeli entrepreneurs have started companies in the Boston area or moved here, as they try to solve problems in cybersecurity, water resources, healthcare, and more. A new study prepared for the … Continue reading “Boston-Israel Connection Rising: 200-Plus Firms, 9K Jobs, $9B Sales”
BitSight Follows FICO Model as Cybersecurity Ratings Industry Grows
As cyber threats grow more complex and damaging, an independent rating that assesses the strength of a company’s defenses could become a new kind of currency in the business world—akin to a consumer credit score that can make or break one’s financial future. That’s the vision of Stephen Boyer and his five-year-old company, BitSight Technologies, … Continue reading “BitSight Follows FICO Model as Cybersecurity Ratings Industry Grows”
Boston Tech Watch: Stumbling Startups, China VC, Acquisitions & More
This week in Boston tech, we’re tracking the latest sign of a tech slowdown, an acquisition of a faltering mobile marketing startup, a Chinese firm investing in a Boston artificial intelligence startup, and more. Read on for details. —Boston-based Fiksu, once a high-flying mobile marketing startup considered an IPO candidate, was acquired for an undisclosed … Continue reading “Boston Tech Watch: Stumbling Startups, China VC, Acquisitions & More”
Mitsubishi Electric Lab Applying Computer Vision to Driverless Cars
Add Mitsubishi Electric’s North American research group to the list of companies working on driverless car technologies in Cambridge, MA. The area around MIT has quickly asserted itself as one of the hotbeds of this emerging and increasingly competitive field. Toyota Research Institute and MIT startup NuTonomy are among the local players who have made … Continue reading “Mitsubishi Electric Lab Applying Computer Vision to Driverless Cars”
Mass. Digital Health Initiative Unveils $26M Fund, Incubator Space
Massachusetts digital healthcare startups will have more resources to tap into, thanks to a new $25.8 million venture fund and an incubator space near Fenway Park unveiled today. The venture fund, dubbed the Massachusetts Innovation Catalyst Fund, will invest in digital health companies that are based in the state or have significant operations here. The … Continue reading “Mass. Digital Health Initiative Unveils $26M Fund, Incubator Space”
Salesforce Buys Demandware for $2.8B in Big E-Commerce Bet
Cloud business software giant Salesforce plans to snap up Demandware for $2.8 billion in cash, marking one of the biggest acquisitions of a Massachusetts tech company in recent memory (this side of the pending $67 billion Dell-EMC deal). In acquiring Burlington, MA-based Demandware (NYSE: [[ticker:DWRE]]), San Francisco-based Salesforce (NYSE: [[ticker:CRM]]) gains a big outpost in … Continue reading “Salesforce Buys Demandware for $2.8B in Big E-Commerce Bet”
Exit Interview: Lita Nelsen on MIT Tech Transfer, Startups & Culture
[Editor’s note: This is part of a series of stories examining entrepreneurship on MIT’s campus and beyond.] MIT’s approach to nurturing entrepreneurship has changed a lot over the past 50 years. Lita Nelsen has seen it up close—and played a part in its evolution—from her studies there in the 1960s, to her business-school fellowship in … Continue reading “Exit Interview: Lita Nelsen on MIT Tech Transfer, Startups & Culture”
Veering Off Topic With OwnerIQ CEO Jay Habegger
Next up in my series of offbeat chats with local tech leaders is Jay Habegger, co-founder and CEO of OwnerIQ. Habegger’s company started a decade ago as a network of websites allowing people to download free user manuals for consumer products, from digital cameras to snow blowers. OwnerIQ still offers that service, but it now … Continue reading “Veering Off Topic With OwnerIQ CEO Jay Habegger”
Boston Tech Watch: iRobot, MIT, Xura, Locus Robotics
Before everyone gets out of town for Memorial Day weekend, let’s catch up on a few recent announcements in Boston-area tech: —Xura (NASDAQ: [[ticker:MESG]]), a Wakefield, MA-based provider of digital communications products and services for businesses, is being acquired for $643 million by affiliates of Siris Capital Group, a New York private equity firm. —Locus … Continue reading “Boston Tech Watch: iRobot, MIT, Xura, Locus Robotics”
Magic Pens, Goliath Defiers, & More at Techstars Boston Demo Day
[Updated 6/6/16, 11:29 a.m. See below.] Beneath the carefully rehearsed pitches, corny one-liners, and overall pomp and circumstance at Techstars Boston’s 10th demo day Wednesday night, it’s clear that the startup accelerator’s local outpost continues to build solid (if not always flashy) businesses. It’s been seven years since Techstars launched in Boston, its first hub … Continue reading “Magic Pens, Goliath Defiers, & More at Techstars Boston Demo Day”
Indico CEO on the Existential Crisis in A.I. and Finding One’s Path
Slater Victoroff’s hands were bleeding, several of his fingernails were chipped and broken, and there was dust in his eyes. He was exhausted. If he stopped moving, he would likely die. As he climbed up the mountain in the eastern Himalayas, he reached a particularly treacherous section. “I actually had the decision laid out in … Continue reading “Indico CEO on the Existential Crisis in A.I. and Finding One’s Path”
Localytics Pushes Toward Profits After Layoffs and Market Slowdown
The tech startup maxim of putting growth before profits has started to reverse itself, as the venture capital boom of the past few years slows down and public investors reward companies with healthy balance sheets. The latest example of the shifting mindset is Localytics. The mobile analytics and marketing software firm has raised $60 million … Continue reading “Localytics Pushes Toward Profits After Layoffs and Market Slowdown”
MIT Boosts Resources for Entrepreneurs as Startup “Fever” Rages
[Editor’s note: This is part of a series of stories examining entrepreneurship on MIT’s campus and beyond.] [Corrected 10/4/16, 9:33 am. See below.] In 1901, 40 years after the Massachusetts Institute of Technology was founded, alumnus and inventor William Nickerson co-founded the company that would become Gillette. MIT graduate William Shockley co-invented the transistor in … Continue reading “MIT Boosts Resources for Entrepreneurs as Startup “Fever” Rages”
Boston Deal Watch: RedPoint Global, Nift, BlueArchive, Cogito
It’s time to catch up on a few recent investments in Boston-area tech startups, including a new data storage company from the founders of Carbonite. Read on for details. —RedPoint Global said Wednesday it snagged $12 million in Series C funding from Grotech Ventures and WP Global Partners. Located just outside of Boston in Wellesley, … Continue reading “Boston Deal Watch: RedPoint Global, Nift, BlueArchive, Cogito”
Studies Tout Massachusetts Tech Scene, But Talent Issues Loom
Several days after one study ranked Boston as the U.S. city best positioned to capitalize on the transition to a digital economy, a new report bolsters Massachusetts’s tech credentials—but with some important caveats that could hinder the Bay State’s growth. Last week, a report titled “Innovation That Matters” drew national attention with its somewhat surprising … Continue reading “Studies Tout Massachusetts Tech Scene, But Talent Issues Loom”
CarGurus CEO on Profitable Tech Startups, and Why Uber Is Road Kill
CarGurus might be the biggest Boston-area consumer tech company you’ve never heard of, but founder and CEO Langley Steinert is ready to change that. Based in Cambridge, MA, the decade-old firm has grown to more than $100 million in annual revenue and around 300 employees, with much of that growth coming in the past couple … Continue reading “CarGurus CEO on Profitable Tech Startups, and Why Uber Is Road Kill”
Wall Street Bids Up Acacia in 2nd Tech IPO of 2016, 1st in MA
The tech IPO drought has momentarily subsided. Acacia Communications raised $103.5 million in its stock market debut today, marking the first Massachusetts tech firm, and second nationwide, to go public this year. Wall Street may be showing it prefers substance over flash, bidding up the stock price of the profitable (if unsexy) company in early … Continue reading “Wall Street Bids Up Acacia in 2nd Tech IPO of 2016, 1st in MA”
Amazon, Mitsubishi Advancing Speech Technology in Boston
[Updated 5/13/16, 9:56 a.m. See below.] Computer scientists have been trying to train software-powered machines to reliably understand and respond to human speech for years. They seem to have turned a corner recently. Two of the latest examples were highlighted Thursday in Boston, as researchers from Amazon and Mitsubishi Electric Research Laboratories (MERL) briefly discussed … Continue reading “Amazon, Mitsubishi Advancing Speech Technology in Boston”
MIT’s Renovated Martin Trust Center Mimics Startup Offices: Photos
Step into the newly renovated Martin Trust Center for MIT Entrepreneurship on MIT’s campus, and you might think you’ve mistakenly wandered into the office of a startup or co-working space. That’s the point. “A lot of our students want to start companies out of school,” says Tommy Long, the center’s chief of staff. “We wanted … Continue reading “MIT’s Renovated Martin Trust Center Mimics Startup Offices: Photos”
Veering Off Topic With CloudLock CEO Gil Zimmermann
[Updated 5/10/16, 4:18 p.m. See below.] Next up in my series of meandering conversations with tech leaders: CloudLock CEO Gil Zimmermann. Zimmermann co-founded the cloud security software company in 2007 as Aprigo and shifted it to its current name and product focus in 2011. The firm, based in Waltham, MA, has raised some $35 million … Continue reading “Veering Off Topic With CloudLock CEO Gil Zimmermann”
Mary Lou Jepsen: A Timeline of Her Career in Advanced Display Tech
Mary Lou Jepsen’s plans for her new startup, Open Water, are quite ambitious. But if anyone can figure out a way to deliver powerful MRI technology via an affordable wearable device, it’s probably her. For over 20 years, Jepsen has been working on device displays and related technologies for some of the biggest names in tech. … Continue reading “Mary Lou Jepsen: A Timeline of Her Career in Advanced Display Tech”
Under Lisa Johnson, BioForward Embraces Health IT and Regional Unity
Drugs and medical devices have long been the strengths of Wisconsin’s high-tech healthcare businesses, but the rising star during the past few years has been the Badger State’s emerging digital health sector. Lisa Johnson recognizes that trend, and she made it a priority after she took over BioForward Wisconsin, the state’s flagship life sciences trade … Continue reading “Under Lisa Johnson, BioForward Embraces Health IT and Regional Unity”
Boston Tech Watch: Wayfair, EMC, PillPack, Adult Beverages, & More
This week in Boston tech, we’re tracking the latest venture capital deals, office relocations, the future of the EMC brand, and updates on local alcohol-related tech startups. Kick off your weekend the right way, by reading on: New venture funding —1366 Technologies, a Bedford, MA-based developer and manufacturer of solar power components, has tacked $10 … Continue reading “Boston Tech Watch: Wayfair, EMC, PillPack, Adult Beverages, & More”
Humanyze Snags $4M to Push Wearable “Fitbit For Your Career”
Smartphones and wearable devices enable people to monitor health metrics like heart rate and how many steps they take in a day, information that can help them take charge of their physical well-being. Humanyze is trying to accomplish something similar with devices and software that track work habits and, in theory, boost job performance and … Continue reading “Humanyze Snags $4M to Push Wearable “Fitbit For Your Career””
Wicab Looks to China, Readies Updated Wearable Vision Device
It took Wicab $26 million and 17 years of twists and turns in research, product development, and testing to get its headset device—which helps blind people, in a way, “see”—approved for sale in the U.S. The Middleton, WI, company achieved that goal last year, but now it’s setting its sights on a much bigger target: … Continue reading “Wicab Looks to China, Readies Updated Wearable Vision Device”
Led By Kayak Vets, GetHuman Will Fight Your Customer Service Battles
The phrase “customer service” sometimes seems like a joke, given all the barriers consumers must overcome to get their questions or problems resolved by big companies. We’ve all been there: Trying to navigate convoluted phone systems to reach an actual human being; twiddling your thumbs while listening to lame hold music; getting bounced from department … Continue reading “Led By Kayak Vets, GetHuman Will Fight Your Customer Service Battles”
Exact Sciences Makes National TV Ad Push to Boost Cologuard Sales
[Updated 5/3/16, 11:08 a.m. See below.] Exact Sciences plans to launch a national TV advertising campaign in an important test of the appeal of Cologuard, its diagnostic product for colorectal cancer that requires patients to ship samples of their stool to a lab for testing. It’s not the first time Exact (NASDAQ: [[ticker:EXAS]]) has made … Continue reading “Exact Sciences Makes National TV Ad Push to Boost Cologuard Sales”
CloudHealth Scoops Up $20M to Expand in IT Management
The shift to cloud computing has created plenty of openings for businesses big and small to help manage cloud infrastructures and analyze the vast amounts of data that companies and organizations are accumulating. One such startup, Boston-based CloudHealth Technologies, has been rising fast. And it’s about to build on its recent momentum, thanks to a … Continue reading “CloudHealth Scoops Up $20M to Expand in IT Management”
6 Boston Tech Deals You Might’ve Missed This Week
Desktop Metal’s $34 million round and Gemvara’s sale to a business owned by Warren Buffett’s company turned heads this past week. Here are several other Boston-area tech deals that flew somewhat under the radar: —Verisk Health, the Waltham, MA-based healthcare data services division of Verisk Analytics (NASDAQ: [[ticker:VRSK]]), is being acquired for $820 million by … Continue reading “6 Boston Tech Deals You Might’ve Missed This Week”
Ionic Downloads $8.5M to Rev Up Business Around Open-Source Software
When trying to build a business on top of free software, step one is attracting a ton of users. Step two is figuring out how to make money. Ionic has successfully checked the first box. Since launching its free, open-source software more than two years ago, more than 4 million developers worldwide have used it … Continue reading “Ionic Downloads $8.5M to Rev Up Business Around Open-Source Software”
Gemvara, Once a Boston Tech Crown Jewel, Bought by Richline Group
Gemvara, which several years ago was one of Boston’s high-flying consumer tech startups, has been acquired by Richline Group, a Berkshire Hathaway subsidiary. Terms weren’t disclosed in a press release announcing the deal. The news was first reported by BostInno. Gemvara got started in 2006 as Paragon Lake, and its original business enabled shoppers to … Continue reading “Gemvara, Once a Boston Tech Crown Jewel, Bought by Richline Group”
Desktop Metal Grabs $34M to Move Prototype 3D Printers to Market
The stakes just got even higher for Desktop Metal. The Boston-area 3D printing startup burst onto the scene last fall with a nearly $14 million initial funding round from high-profile investors NEA, Kleiner Perkins Caufield Byers, Lux Capital, 3D printing giant Stratasys, and others. Investors poured in the money largely based on faith in the … Continue reading “Desktop Metal Grabs $34M to Move Prototype 3D Printers to Market”
CyberArk-Led Alliance Unites Security Around Privileged Accounts
A new nationwide cybersecurity industry partnership led by CyberArk Software underscores the sector’s increased emphasis on collaboration and unifying software security measures as threats mount around the world. CyberArk (NASDAQ: [[ticker:CYBR]]) today announced the launch of the C3 Alliance, a group of cybersecurity, enterprise software, and other service providers who will integrate into their offerings … Continue reading “CyberArk-Led Alliance Unites Security Around Privileged Accounts”
Veering Off Topic With Salsify CEO Jason Purcell
Jason Purcell is the next victim in my ongoing series of quirky conversations with local tech leaders. Purcell heads up Salsify, which makes cloud-based product-content management software for brands and retailers. He co-founded the company in 2012 with Rob Gonzalez and Jeremy Redburn. The trio previously worked together at Cambridge, MA-based Endeca, the enterprise search … Continue reading “Veering Off Topic With Salsify CEO Jason Purcell”
Threat Stack Founder’s New Startup, Komand, Pushes Security Automation
Threat Stack co-founder Jen Andre, who left the company last year, is back with another Boston-area cybersecurity startup called Komand. The Cambridge, MA-based company formed late last year and has received funding from Accomplice, according to Komand’s website. Accomplice’s Chris Lynch and Cort Johnson sit on Komand’s board, along with Andre, the website shows. The … Continue reading “Threat Stack Founder’s New Startup, Komand, Pushes Security Automation”
Boston Tech Watchlist: PillPack, Onshape, Placester, Meta, Northeastern
This week in Boston tech, we’re tracking the latest on PillPack, Placester’s first acquisitions, more money for Onshape, a Boston-area hire by Silicon Valley augmented reality startup Meta, and a nanotech manufacturing program at Northeastern University. Read on for details. —Onshape appears to have tacked on $25 million to an earlier $80 million equity funding … Continue reading “Boston Tech Watchlist: PillPack, Onshape, Placester, Meta, Northeastern”
Uber’s $100M Settlement Doesn’t End On-Demand Economy Worker Debate
Uber has agreed to pay up to $100 million to settle two class-action lawsuits brought by drivers in California and Massachusetts, a move that keeps its low-cost business model intact and could have ripple effects throughout the app-enabled, on-demand services industry. Uber’s settlement allows it to continue classifying its drivers in those two states as … Continue reading “Uber’s $100M Settlement Doesn’t End On-Demand Economy Worker Debate”
Threat Stack Downloads $15.4M to Protect Data in the Cloud
An up-and-coming Boston cybersecurity company just picked up a big chunk of cash to help companies fight off software attacks—an increasingly complex task in the cloud era. Threat Stack today announced a $15.4 million Series B funding round led by Scale Venture Partners, with contributions from previous backers, including Accomplice and .406 Ventures. Ariel Tseitlin, … Continue reading “Threat Stack Downloads $15.4M to Protect Data in the Cloud”
Nanosys, QD Vision Patent Fight Could Shake Up Nanotech Sector
As consumer device makers keep upping the ante with high-definition displays, a patent lawsuit between two well-funded, competing developers of “quantum dot” display technology could have ramifications for an emerging business sector. Milpitas, CA-based nanotechnology company Nanosys is suing Lexington, MA-based QD Vision for allegedly infringing upon 13 patents that Nanosys says it exclusively licensed … Continue reading “Nanosys, QD Vision Patent Fight Could Shake Up Nanotech Sector”
ShopAdvisor Buys Retailigence to Marry Mobile With In-Store Shopping
ShopAdvisor has acquired Retailigence in a tie-up of two marketing technology startups that highlights a push by brands and retailers to get smarthphone-wielding shoppers to make purchases in stores. The deal price wasn’t disclosed. ShopAdvisor was founded in 2011 as Evoqu and initially launched with an app that allows shoppers to scan barcodes of items and … Continue reading “ShopAdvisor Buys Retailigence to Marry Mobile With In-Store Shopping”
Verizon Fios, New Digs, Pink Slips & More in Boston Tech Watchlist
[Updated 4/14/16, 1:06 p.m. See below.] There’s a lot of news to recap this week in Boston’s tech scene. We’ve got C-suite shakeups, staff expansions and contractions, and companies making moves in telehealth, robotics, and high-speed Internet service (spoiler alert: there will be more options for Bostonians, but you might be waiting a while). Read … Continue reading “Verizon Fios, New Digs, Pink Slips & More in Boston Tech Watchlist”
Nexthink Nabs $40M as Cybersecurity, Machine Learning Unite
A Swiss data analytics and cybersecurity company is beefing up its Boston-area presence after grabbing $40 million in venture capital, led by Highland Europe. Nexthink established a U.S. presence three weeks ago with the opening of a sales office in Cambridge, MA. The company employs about 10 people there to start, but it plans to … Continue reading “Nexthink Nabs $40M as Cybersecurity, Machine Learning Unite”
Amazon Alexa Adds Health Advice With Boston Children’s Hospital App
Owners of Amazon’s voice-controlled, Internet-connected Echo speaker can ask it to play that catchy new song or find out whether they need to wear a rain coat today. And now, thanks to new software developed by Boston Children’s Hospital, users will be able to inquire if their child’s fever is serious enough that they should … Continue reading “Amazon Alexa Adds Health Advice With Boston Children’s Hospital App”
GE Can Help Boston Lead Internet of Things Era, Steve Case Says
The U.S. tech industry’s center of gravity shifted from Boston to Silicon Valley during the rise of consumer Internet companies. But the Boston area has an opportunity to be a leader in software’s next era, particularly around the emerging “Internet of things,” according to AOL co-founder Steve Case. And GE’s move here will give Boston … Continue reading “GE Can Help Boston Lead Internet of Things Era, Steve Case Says”
Steve Case’s Rules for Building Startups in Internet’s “Third Wave”
Software could be poised to truly transform entrenched sectors like healthcare, education, financial services, and more. But the next wave of software companies will take longer to build than some entrepreneurs have grown accustomed to in the smartphone era, and success will require more patience and willingness to work closely with policymakers and industry stakeholders. … Continue reading “Steve Case’s Rules for Building Startups in Internet’s “Third Wave””
From Funding to Fabrics, This Week’s Boston Tech Highlights
This week in Boston’s technology scene, we’re tracking new capital for startups, executives on the move, a local fintech company’s foray across the pond, and Staples’ unexpected move to bring more people into its stores. Read on for details. —LevelUp, a Boston-based mobile payments software company, raised $5 million from investors, according to a new … Continue reading “From Funding to Fabrics, This Week’s Boston Tech Highlights”
ExactTarget Alums Aim Big With Indianapolis Startup Studio High Alpha
ExactTarget helped put Indianapolis on the map as a good place to build a cloud software company that serves business customers. Now, High Alpha—a startup studio/venture fund whose founders include three former ExactTarget executives—aims to cement the city’s status as an enterprise software hub. High Alpha was formed a year ago and launched publicly in … Continue reading “ExactTarget Alums Aim Big With Indianapolis Startup Studio High Alpha”