The World Wide Web is at a crossroads. For all the benefits it has brought society over the past three decades—faster and easier communication, instant knowledge access, a seemingly inexhaustible marketplace of goods and services—the Web has also morphed into an “engine of inequity and division,” according to its inventor, Tim Berners-Lee (pictured above). In … Continue reading “Tim Berners-Lee Building Inrupt to Fix the Web—Will Users Come?”
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.
Boston Tech Watch: Wayfair, Monster, Circle, Rocket, Cogito & More
Time to catch up on recent Boston-area tech headlines, including a trio of mergers and acquisitions, venture capital deals in artificial intelligence and cybersecurity, a new chief technology officer at Monster, and Wayfair’s first brick-and-mortar locations. Read on for details. —Bain Capital Private Equity reached an agreement to purchase a majority stake in Rocket Software, … Continue reading “Boston Tech Watch: Wayfair, Monster, Circle, Rocket, Cogito & More”
Circulation CEO Talks Sale to LogistiCare & Amazon’s Healthcare Play
[Corrected 10/9/18, 10:09 am. See below.] The recent acquisition of Circulation, a software startup trying to make non-emergency medical transportation more efficient, could offer a glimpse of the next phase in the “consumerization” of healthcare—and, perhaps, another target market for Amazon. Those were some of the takeaways from a conversation I had Friday with Robin … Continue reading “Circulation CEO Talks Sale to LogistiCare & Amazon’s Healthcare Play”
Schneider Electric Leads $18M Round for Home Energy Startup Sense
Sense, a Boston-area home energy monitoring startup, has raised $18 million in fresh funding from a group of backers that includes energy and robotics companies. Schneider Electric led the Series B financing round, and it was joined by earlier Sense investors Shell Ventures, iRobot (NASDAQ: [[ticker:IRBT]]), Energy Impact Partners, Prelude Ventures, and Capricorn Investment Group. … Continue reading “Schneider Electric Leads $18M Round for Home Energy Startup Sense”
Rethink Robotics, Maker of Factory Robots, Shuts Down
Rethink Robotics, one of New England’s best-funded robotics companies, has shut down, according to reports by The Robot Report and The Boston Globe. Rethink, which developed collaborative factory robots, had raised more than $130 million in venture funding since it was started in 2008. The company was led by CEO Scott Eckert and founder and … Continue reading “Rethink Robotics, Maker of Factory Robots, Shuts Down”
ClimaCell Grabs $45M for Weather Data for Airlines, Driverless Cars
Aviation, public utilities, and insurance are among the old-line industries that rely on accurate weather forecasts and monitoring to make crucial decisions for their operations. Now, advances in artificial intelligence and other technologies are creating uses for weather data in new sectors—think ride-hailing services, drones, and self-driving cars. That’s according to ClimaCell, a Boston-based startup … Continue reading “ClimaCell Grabs $45M for Weather Data for Airlines, Driverless Cars”
Hopper Reels In $100M to Boost Travel-Booking App’s A.I.
Travel-booking app Hopper is taking a big leap this morning, announcing a $100 million venture funding round. The Series D financing was led by Omers Ventures. Other investors in the round included new backer Citi Ventures, as well as earlier Hopper investors Caisse de dépôt et placement du Québec (CDPQ), Accomplice, Brightspark Ventures, Investissement Québec, … Continue reading “Hopper Reels In $100M to Boost Travel-Booking App’s A.I.”
GE Abruptly Replaces CEO Flannery with Former Danaher CEO Culp
[Updated 10/1/18, 10:57 am. See below.] In an unexpected move, General Electric has replaced its chief executive just 16 months after naming him its next leader. GE (NYSE: [[ticker:GE]]) announced Monday it named H. Lawrence Culp, Jr., as CEO and chairman, immediately replacing John Flannery (pictured above). Culp has served on GE’s board since April. Before … Continue reading “GE Abruptly Replaces CEO Flannery with Former Danaher CEO Culp”
TUGG, Led by Reddit Vet, Plans New “Volunteer in Residence” Program
TUGG is getting more ambitious. Over the past decade, TUGG, which stands for Technology Underwriting Greater Good, has become one of the most visible efforts by employees of Boston-area tech companies and venture capital firms to give back to the local community. Working with the nonprofit, employees donate their time and money to local charities … Continue reading “TUGG, Led by Reddit Vet, Plans New “Volunteer in Residence” Program”
Boston Tech Watch: MIT, GoDaddy, Lionano, HqO, Centage & More
Lots of Boston-area tech news to cover this week, so let’s jump right in. —Lionano, a Woburn, MA-based developer and maker of advanced battery energy storage products for vehicles and consumer electronics, said it closed a $22 million Series B funding round led by WAVE Equity Partners, Helios Capital Ventures, and NXT Ventures. Lionano spun … Continue reading “Boston Tech Watch: MIT, GoDaddy, Lionano, HqO, Centage & More”
Blink Health Ramps Up in Boston as Amazon Eyes Prescription Drugs
A few months after Amazon announced a deal to acquire Boston-area online pharmacy startup PillPack, another healthcare technology venture is growing its presence here as it attempts to shake up the retail pharmacy industry. The newcomer is New York-based Blink Health, a four-year-old startup that enables people to buy low-cost prescription drugs online and pick … Continue reading “Blink Health Ramps Up in Boston as Amazon Eyes Prescription Drugs”
Big Pharma Seeks More Partnerships, Evidence in Digital Therapeutics
“Digital therapeutics” startups are starting to win more respect—and investment dollars—from pharmaceutical giants. But the two sides are still figuring out how to work together to capitalize on the potential for apps, devices, and other software-enabled technologies to impact patients’ health. That’s what stood out to me the most as I listened to leaders from … Continue reading “Big Pharma Seeks More Partnerships, Evidence in Digital Therapeutics”
Adobe-Marketo Deal Could Spur Marketing Tech Tie-Ups, New Strategies
Marketo almost didn’t get off the ground. It was 2006, and Jon Miller and his Marketo co-founders were struggling to raise money from investors for their marketing technology startup. Their pitch was to use software to help businesses automate much of the process of tracking and managing the online sales leads they were getting from … Continue reading “Adobe-Marketo Deal Could Spur Marketing Tech Tie-Ups, New Strategies”
Rapid7 Launches Security Automation Tools to Take On IBM, FireEye
[Updated 9/20/18, 1:04 pm. See below.] Cybersecurity software firm Rapid7 is rolling out new and updated products geared toward helping customers automate more of their security processes and tie together the patchwork of defense mechanisms many of them have purchased from various vendors. The announcement fits into two big trends in security of the past … Continue reading “Rapid7 Launches Security Automation Tools to Take On IBM, FireEye”
Boston Tech Watch: Akili, Smartsheet, Tamr, Takeoff, Nanoramic & More
[Updated 9/19/18, 2:08 pm. See below.] It’s time to catch up on some recent Boston-area tech happenings: —Takeoff Technologies, a Waltham, MA-based developer of robotic systems for grocery order fulfillment, recently raised $24 million from investors, the company said in an e-mail to Xconomy. The Series B funding round was led by Forrestal Capital and brings … Continue reading “Boston Tech Watch: Akili, Smartsheet, Tamr, Takeoff, Nanoramic & More”
Google Leads Mabl’s $20M Series B as Software Testing Deals Heat Up
Dan Belcher and Izzy Azeri sold their last startup, Stackdriver, to Google. Now, Google’s venture capital arm has backed the entrepreneurial duo’s latest company, Mabl. Boston-based Mabl said Tuesday it has pulled in $20 million in a Series B funding round led by GV (formerly Google Ventures). CRV and Amplify Partners also contributed to the … Continue reading “Google Leads Mabl’s $20M Series B as Software Testing Deals Heat Up”
Zapata Teaming With IBM, Google to Push Quantum Tech Into Next Phase
Christopher Savoie says he was skeptical when former Harvard researcher Alán Aspuru-Guzik pitched Savoie last year on joining the quantum computing software venture he was planning to form. Quantum computing technology is at least a decade away from commercial feasibility, responded Savoie, a tech developer and attorney who previously founded startups in machine learning, pharmaceuticals, … Continue reading “Zapata Teaming With IBM, Google to Push Quantum Tech Into Next Phase”
Zapata Computing CEO on A.I., Automation & Breakthroughs in Quantum
Quantum computing is one of the most intriguing—and complex—areas of technology right now. For years, it seemed like the field wouldn’t deliver practical applications any time soon. But that thinking has changed, and efforts at big companies, startups, and university research labs seem to be picking up steam—with use cases in finance, artificial intelligence, and … Continue reading “Zapata Computing CEO on A.I., Automation & Breakthroughs in Quantum”
Fidelity CEO Hints at Crypto Products as Sector Aims for Mainstream
Fidelity Investments is cooking up more blockchain and cryptocurrency-related products and services, with a goal of rolling some of them out in the next few months, CEO Abigail Johnson said Friday morning. Johnson made the comments during an event held at the financial services giant’s downtown Boston headquarters—one of a series of events that were … Continue reading “Fidelity CEO Hints at Crypto Products as Sector Aims for Mainstream”
Cloud Storage Startup Wasabi Grabs $68M to Eat Amazon’s Lunch
Wasabi Technologies’ ambitious plan to challenge the giants in cloud data storage—Amazon, Google, Microsoft, and IBM—just got a $68 million boost. Wasabi announced Wednesday it closed its Series B round of venture funding. The Boston-based startup had previously raised at least $8.5 million from investors, who are betting that it can build a big business … Continue reading “Cloud Storage Startup Wasabi Grabs $68M to Eat Amazon’s Lunch”
Coinbase, Circle & Others Form Blockchain Lobbying Group in DC
Amid intensifying regulatory scrutiny of cryptocurrencies and blockchain ventures, some of the sector’s leading startups and investors have formed the Blockchain Association, a lobbying group that will try to amplify their influence in Capitol Hill and around the country. The nonprofit trade association’s initial members include San Francisco-based Coinbase and its competitor, Boston-based Circle Internet … Continue reading “Coinbase, Circle & Others Form Blockchain Lobbying Group in DC”
Robotic Kitchen Startup Spyce Grabs $21M to Open More Restaurants
[Updated 9/10/18, 4:18 pm. See below.] Spyce plans to open more restaurants along the East Coast featuring its “robotic kitchen” system, thanks to a fresh infusion of $21 million in venture capital. The Somerville, MA-based startup’s Series A funding round was led by Collaborative Fund and Maveron, according to an announcement Friday. Other investors in … Continue reading “Robotic Kitchen Startup Spyce Grabs $21M to Open More Restaurants”
Boston Tech Watch: Nuance, Relayr, Markforged, Grapevine & More
Time to catch up on recent Boston-area tech headlines: —Relayr, a Boston-based company developing software and services for connected devices, is being acquired for $300 million by German insurance and reinsurance company Munich Re through its Hartford Steam Boiler subsidiary. Munich Re said Relayr will help it create new business models for the “industrial Internet … Continue reading “Boston Tech Watch: Nuance, Relayr, Markforged, Grapevine & More”
Tech Transfer Leader Barrow Leaving UMass, Launching Consulting Firm
Abigail Barrow, a long-time technology transfer leader at the University of Massachusetts system, is leaving UMass and starting a consulting firm called Cambridge Innovation Partners, she said in an e-mail to Xconomy. Barrow’s departure was first reported by the Boston Business Journal. Barrow told Xconomy her new firm will focus on “supporting the development of … Continue reading “Tech Transfer Leader Barrow Leaving UMass, Launching Consulting Firm”
With Cronos Deal, Ginkgo Brings Synthetic Bio Approach to Cannabis
In a partnership that gives new meaning to mixing pot and beer, Canadian cannabis company Cronos Group has teamed with synthetic biology firm Ginkgo Bioworks to try and develop better ways of producing the chemical compounds of cannabis in a lab. Employees of Boston-based Ginkgo use robotic systems and software to design and test custom-made … Continue reading “With Cronos Deal, Ginkgo Brings Synthetic Bio Approach to Cannabis”
Drift Snaps Up Siftrock to Power E-mail Marketing Tools
Software firm Drift has acquired a startup called Siftrock to help expand its marketing and sales automation offerings. The purchase price wasn’t disclosed in a Tuesday press release announcing the deal. Drift touted the acquisition of the Seattle-based startup during its annual “Hypergrowth” event in Boston, where Drift is headquartered. The company also announced partnerships … Continue reading “Drift Snaps Up Siftrock to Power E-mail Marketing Tools”
OpsGenie, Backed by Battery Ventures, Grants $295M Sale to Atlassian
Another Boston IT deal to report today: Atlassian says it has signed an agreement to acquire OpsGenie for an estimated $295 million, which includes $259 million in cash and the remainder in restricted shares of Atlassian (NASDAQ: [[ticker:TEAM]]). The planned acquisition seems to be a great return for Boston-based OpsGenie’s investors. The six-year-old startup appears … Continue reading “OpsGenie, Backed by Battery Ventures, Grants $295M Sale to Atlassian”
Behind the Deal: Under VMware, CloudHealth Aims to Be Household Name
The excitement and sense of triumph were palpable Thursday at CloudHealth Technologies, as the company held a party celebrating its recent move to a new headquarters on the 20th floor of a downtown Boston skyscraper. The source of the heightened atmosphere was no mystery—the enterprise software startup was also reveling in its planned sale to … Continue reading “Behind the Deal: Under VMware, CloudHealth Aims to Be Household Name”
Boston Tech Watch: Humana, SmartBear, Nexamp, Veritas & More
This week in Boston tech, we’re tracking a massive healthcare analytics acquisition, a new technology incubator from health insurer Humana, a Mitsubishi subsidiary’s latest investments in the local energy sector, and more deals. Read on for details. —Verscend Technologies said it completed its $4.9 billion acquisition of Atlanta-based Cotiviti (NYSE: [[ticker:COTV]]), a union of companies … Continue reading “Boston Tech Watch: Humana, SmartBear, Nexamp, Veritas & More”
Vecna Robotics Grabs $13.5M as Logistics Robots Stay Hot
Vecna Technologies’ logistics robotics business has raised $13.5 million in venture capital, according to a filing with the SEC. The funding for Vecna Robotics marks the first outside equity investment in any of 20-year-old Vecna’s businesses. Last year, Vecna completed a reorganization in which it split its various products and services into separate businesses operating … Continue reading “Vecna Robotics Grabs $13.5M as Logistics Robots Stay Hot”
Foxconn Creates $100M Venture Fund With Three Top WI Businesses
Foxconn Technology Group continues to make its presence felt in the Wisconsin business community. The latest move: The Taiwanese contract manufacturer is forming a $100 million early-stage venture capital fund with three of the Badger State’s leading companies and organizations. Advocate Aurora Health, Northwestern Mutual, Johnson Controls, and Foxconn will each contribute $25 million to … Continue reading “Foxconn Creates $100M Venture Fund With Three Top WI Businesses”
SoftBank Taps Affectiva to Boost Pepper Robot’s Emotional IQ
Teaching robots to recognize human emotions and react appropriately is one of the grandest ambitions in robotics. Companies have made progress on this front in recent years, thanks in part to advances in machine learning, computer vision, speech recognition, and related technologies. But there is a long way to go. Now, one of the big … Continue reading “SoftBank Taps Affectiva to Boost Pepper Robot’s Emotional IQ”
After iRobot Split, Endeavor Rides Growth in Military Robot Spending
[Corrected 8/27/18, 10:45 am. See below.] United we stand, divided we fall. But sometimes, the opposite is true. That’s the way things seem to be playing out for iRobot (NASDAQ: [[ticker:IRBT]]) and Endeavor Robotics, iRobot’s former defense and security business, which was carved out and sold to private equity firm Arlington Capital Partners two years … Continue reading “After iRobot Split, Endeavor Rides Growth in Military Robot Spending”
Vestigo Raises $58.9M Debut Fintech Fund as Early-Stage Deals Drop
Vestigo Ventures, a Boston-area venture firm that backs early-stage financial technology companies, said Thursday it has raised $58.9 million for its debut investment fund. That’s a small amount, but it’s still likely welcome news for young fintech startups. Global venture capital investments in the sector reached a record $16.6 billion last year, but the number … Continue reading “Vestigo Raises $58.9M Debut Fintech Fund as Early-Stage Deals Drop”
Boston Tech Watch: Actifio, DraftKings, WaveSense, BabelBark & More
[Updated 8/23/18, 9:05 am. See below.] Time to catch up on recent news from the Boston-area tech sector: —We’ve got more details on Actifio’s recently announced $100 million funding round: nearly $59 million of that total was equity funding, according to an SEC filing. A company spokesman told Xconomy the remainder of the investment was … Continue reading “Boston Tech Watch: Actifio, DraftKings, WaveSense, BabelBark & More”
TraceLink Bags $93M, Plans A.I. & Blockchain Tools for Drug Tracking
Step one for TraceLink, a maker of software that helps track the supply chain of pharmaceuticals, was recruiting hundreds of thousands of companies and organizations to its digital platform. Now, much like the playbooks of social media companies and other tech firms, step two will be to develop “new applications on top of that infrastructure”—thereby … Continue reading “TraceLink Bags $93M, Plans A.I. & Blockchain Tools for Drug Tracking”
Acquia’s New CEO Eyes Acquisitions, Not an Exit (Yet)
Acquia is known for software that helps businesses manage content on their websites. But these days, the 11-year-old company describes itself as a builder of “digital experiences,” a nod to the ever-expanding list of technological vehicles through which brands market their products—think mobile apps, social media, voice-controlled devices, and augmented and virtual reality experiences. “There’s … Continue reading “Acquia’s New CEO Eyes Acquisitions, Not an Exit (Yet)”
Tech Hiring Surges in Bay Area, NY, Boston: See Q2’s Top Employers
After a sluggish start to 2018, hiring has accelerated recently at the top software companies in three of America’s largest technology hubs. That’s according to the latest quarterly Digital Jobs Index compiled by John Barrett, a Boston-area partner with executive recruiting firm On Partners. The report tracks job growth at 100 leading software and Internet … Continue reading “Tech Hiring Surges in Bay Area, NY, Boston: See Q2’s Top Employers”
Fidelity Vets Launch Castle Island Ventures, a $30M Blockchain Fund
There’s a new venture fund in town, focused on the hypiest of hyped sectors right now: blockchain systems and cryptocurrencies. It’s a small fund, but what’s interesting about Castle Island Ventures is the pedigree of the Boston firm’s founders and the careful approach they’re taking. In an exclusive interview, co-founder and partner Matt Walsh says … Continue reading “Fidelity Vets Launch Castle Island Ventures, a $30M Blockchain Fund”
Boston Tech Watch: Drizly, Skyworks, Polaris, Akili, Kebotix & More
[Updated 8/10/18, 1:33 pm. See below.] Time to catch up on some of the latest deals and developments in the Boston-area tech sector: —Skyworks Solutions (NASDAQ: [[ticker:SWKS]]), the Woburn, MA-based chipmaker, said it inked a deal to acquire Avnera, a Beaverton, OR-based maker of semiconductors designed to minimize power consumption and enable voice-controlled devices and … Continue reading “Boston Tech Watch: Drizly, Skyworks, Polaris, Akili, Kebotix & More”
Yesware Hauls In $15M and Replaces Founding CEO
It’s the end of an era for Yesware, an eight-year-old maker of e-mail software for salespeople. The Boston-based startup announced Wednesday that it brought in $15 million in venture capital, but the bigger news is that co-founder and CEO Matthew Bellows will be replaced by chief operating officer Joel Stevenson. Stevenson joined Yesware in March … Continue reading “Yesware Hauls In $15M and Replaces Founding CEO”
Paratek Eyes FDA Approval of Antibiotic After Advisory Panel Nod
An FDA advisory committee voted to recommend U.S. approval of Paratek Pharmaceuticals’ experimental antibiotic, omadacycline, both for the treatment of certain types of bacterial skin infections and hospital-acquired pneumonia. The independent advisory panel’s endorsement isn’t binding, but the FDA often follows the guidance of such committees. The FDA’s decision is expected in early October, Boston-based … Continue reading “Paratek Eyes FDA Approval of Antibiotic After Advisory Panel Nod”
Salsify Grabs $43M to Help Brands Navigate Amazon & E-Commerce
In the online shopping age, it can be difficult for businesses to keep all of their product information updated and relevant to potential customers. Boston-based startup Salsify has spent several years helping brands manage their product content across Amazon (NASDAQ: [[ticker:AMZN]]), Google (NASDAQ: [[ticker:GOOGL]]) ads, the websites of brick-and-mortar retailers, and other digital marketplaces. Salsify … Continue reading “Salsify Grabs $43M to Help Brands Navigate Amazon & E-Commerce”
Boston Tech Watch: Noncompetes, Markforged, Mimecast & More
[Updated 8/3/18, 12:27 pm. See below.] Here are some of the latest headlines from the Boston-area tech sector: —The Massachusetts Legislature passed an economic development bill that includes some limits to employee noncompete contracts, the Boston Globe reported. The bill prohibits noncompetes for hourly workers and interns; shortens the allowable length of the noncompete period … Continue reading “Boston Tech Watch: Noncompetes, Markforged, Mimecast & More”
Siemens Scoops Up Mendix for $730M to Boost Digital Capabilities
[Updated 8/2/18, 9:11 am. See below.] Mendix, one of the long-standing players in the business app development sector, is being snapped up by Siemens for 628 million euros, or about $730 million, according to a spokesperson. [Updated price.—Eds.] The German industrial conglomerate will pay cash to acquire Boston-based Mendix, and it also plans to invest … Continue reading “Siemens Scoops Up Mendix for $730M to Boost Digital Capabilities”
3D Printing “Unicorn” Formlabs Grabs $15M, Ex-GE CEO Joins Board
Here’s an idea for the next figurine Formlabs should make with one of its 3D printers: a unicorn. Today, the MIT Media Lab spinout announced it received a $15 million investment from New Enterprise Associates (NEA), bringing the seven-year-old company’s venture capital haul to more than $100 million. Formlabs says its latest cash infusion puts … Continue reading “3D Printing “Unicorn” Formlabs Grabs $15M, Ex-GE CEO Joins Board”
Boston Tech Watch: SessionM, Salesforce, Facebook, Squadle & More
It’s time to catch up on a flurry of recent Boston-area tech headlines: —SessionM, a seller of marketing automation and customer loyalty software, said it grabbed $23.8 million in venture funding from previous backers. The round was led by Salesforce Ventures, with contributions from Causeway Media Partners, CRV, General Atlantic, Highland Capital Partners, and Kleiner … Continue reading “Boston Tech Watch: SessionM, Salesforce, Facebook, Squadle & More”
Flywire Tracks Down $100M as Global Payments Race Heats Up
Investors continue to cut big checks to global payments startups. The latest to cash in is Flywire, which announced Thursday it raised a $100 million Series D funding round led by Singapore-based Temasek. Flywire has now hauled in a total of $144 million from investors, a spokeswoman said. Other investors in the Series D round … Continue reading “Flywire Tracks Down $100M as Global Payments Race Heats Up”
LevelUp’s Winding Path Pays Off With $390M Sale to Grubhub
LevelUp is the latest startup story to end in an acquisition. The company has gone through several transformations since it was founded a decade ago, eventually landing on mobile payments processing, customer loyalty programs, and data analytics tools for restaurants. Its journey ultimately led to Grubhub: the online food-ordering and delivery giant announced Wednesday it … Continue reading “LevelUp’s Winding Path Pays Off With $390M Sale to Grubhub”
Qlik Buys Podium Data as Big Data Deal-Making Continues
Big software companies continue to shop for data management and analytics startups. The latest deal is Qlik’s acquisition of Podium Data, announced Tuesday morning. The price was not disclosed. Four-year-old Podium sells software that helps large enterprises manage and prepare data for analysis, focusing on data quality and security. Business analysts and data scientists use … Continue reading “Qlik Buys Podium Data as Big Data Deal-Making Continues”