Drug makers are making more bets on the nascent field of digital medicine. The latest example: Click Therapeutics announced Monday that it grabbed a $17 million investment led by Sanofi Ventures, the Cambridge, MA-based venture capital arm of the French pharmaceutical giant. New York-based Click Therapeutics develops mobile apps intended to be prescribed by doctors … Continue reading “Sanofi Backs Click Therapeutics as Digital Medicines Gain Momentum”
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.
Goldman Sachs Leads $37M Investment in Cogito’s A.I. for Call Centers
Cogito, one of the startups working to enhance businesses’ call center operations with sophisticated analytics software, has scooped up $37 million from investors to try and take its business to the next level. The Series C funding round was led by Goldman Sachs’s growth equity fund, with earlier Cogito backers Salesforce Ventures and OpenView Venture … Continue reading “Goldman Sachs Leads $37M Investment in Cogito’s A.I. for Call Centers”
Empatica, Kyruus, Pear & More: Digital Trailblazer Award Finalists
Healthcare is seeing an explosion in the use of data analytics, machine learning tools, wearable devices, mobile apps, and other digital technologies. Software products are not only augmenting the capabilities of doctors—in some cases, the digital product is itself being prescribed as a treatment. In recognition of the growing impact of such technologies in healthcare, … Continue reading “Empatica, Kyruus, Pear & More: Digital Trailblazer Award Finalists”
Boston Tech Watch: Wistia, Armored Things, TowerIQ, Cignifi & More
[Updated 7/20/18, 1:08 pm. See below.] Time to catch up on the latest Boston-area tech news: —State Street (NYSE: [[ticker:STT]]), the financial services giant based in Boston, said it inked an agreement to acquire Charles River Systems, also known as Charles River Development, for $2.6 billion in cash. Burlington, MA-based Charles River provides investment management … Continue reading “Boston Tech Watch: Wistia, Armored Things, TowerIQ, Cignifi & More”
Google Partners With Zapata on Open-Source Quantum Computing Effort
Zapata Computing, a Harvard University spinout developing software to enable quantum computers, said Wednesday it’s working with Google to advance quantum computing technologies. Zapata said it’s one of the first users of Cirq, Google’s new open-source software framework for quantum computing. The initiative is yet another example of the growing investment in quantum computing research … Continue reading “Google Partners With Zapata on Open-Source Quantum Computing Effort”
Security Firm ObserveIT Grabs $33M to Get Ahead of Insider Threats
Cyber breaches caused by people within businesses and organizations, both accidental and malicious leaks, continue to multiply. Now, a Boston security startup is arming itself with more cash and enhanced technology to try and stop these insider threats. ObserveIT announced today it closed a $33 million Series B funding round from Bain Capital Ventures, Spring … Continue reading “Security Firm ObserveIT Grabs $33M to Get Ahead of Insider Threats”
Ex-HubSpot CMO Volpe to Lead Lola, Founder Paul English Is Now CTO
[Updated 7/17/18, 11:53 am, with comments from English and Volpe. See below.] Lola, the business travel software startup led by Kayak co-founder Paul English, has brought on a new chief executive: Mike Volpe, the former chief marketing officer at both HubSpot and Cybereason. English will relinquish his CEO title to serve as Lola’s chief technology … Continue reading “Ex-HubSpot CMO Volpe to Lead Lola, Founder Paul English Is Now CTO”
Boston Tech Watch: Autodesk, DataRobot, Starry, Perceptive Automata
It’s time to catch up on Boston tech headlines. This week, we’re tracking acquisitions by Autodesk and DataRobot, a $100 million investment in upstart wireless Internet provider Starry, a new startup from Runkeeper co-founder Jason Jacobs, details about a stealthy autonomous vehicle software company, the first venture capital investment in Yuchun Lee’s Allego, and more … Continue reading “Boston Tech Watch: Autodesk, DataRobot, Starry, Perceptive Automata”
Samsung, Google Back Tamr as Big Data Startups Try to Find Their Way
[Updated 7/11/18, 12:01 pm. See below.] Businesses have sunk a lot of money into software tools to analyze the reams of data they’re generating, in search of insights that might help them increase sales or cut costs. But analytics tools don’t work effectively unless the data can be easily retrieved from a company’s disparate systems … Continue reading “Samsung, Google Back Tamr as Big Data Startups Try to Find Their Way”
Toast Cooks Up $115M Round, Claims “Unicorn” Status
Restaurant technology startup Toast has pulled in $115 million in a Series D venture funding round that the company says gives it a valuation of $1.4 billion. That makes it Boston’s newest “unicorn”—a privately held company valued at more than $1 billion by its investors. Of course, that’s just what the company claims it’s worth … Continue reading “Toast Cooks Up $115M Round, Claims “Unicorn” Status”
Venture Funding Keeps Momentum Amid IPO Wave; Plus Q2’s Top 10 Deals
[Updated 7/12/18, 9:24 am. See below.] Last year, U.S. venture capital investments swelled to a level not seen since the dot-com era of the early 2000s. This year could be even bigger. Investors funneled $57.5 billion into U.S. companies through the first six months of 2018, according to the latest Venture Monitor report produced quarterly … Continue reading “Venture Funding Keeps Momentum Amid IPO Wave; Plus Q2’s Top 10 Deals”
From Robots to Owl Art, a Tour of Autodesk’s BUILD Space: Slideshow
As a tech journalist, most of the stories I write these days deal in algorithms, cloud computing, and other digital tools. When given the opportunity, it’s fun to explore new technologies and products you can actually see and touch. I recently escaped my desk to tour Autodesk’s offices in Boston’s Seaport neighborhood and check out … Continue reading “From Robots to Owl Art, a Tour of Autodesk’s BUILD Space: Slideshow”
American Well Raises $290M+ to Go Bigger in Telehealth
American Well appears to be raising a massive venture capital investment. The Boston-based telehealth company disclosed in a new SEC filing that it has pulled in $290.6 million in a new funding round that could reach almost $315 million. A company spokeswoman declined to comment. Regardless of how large the latest investment in American Well … Continue reading “American Well Raises $290M+ to Go Bigger in Telehealth”
Cyber Trend: Hackers Love to Steal Data; Now They Might Weaponize It
For years, cyber attackers’ primary aim has been to pilfer sensitive information from businesses and individuals, either to sell it in the dark corners of the Internet, hold it for ransom, or use it themselves for material gain. More recently, efforts to connect all manner of machines to the Internet has led to growing worries … Continue reading “Cyber Trend: Hackers Love to Steal Data; Now They Might Weaponize It”
SimpliSafe Sold to Private Equity Firm as Home Security Heats Up
[Updated 6/29/18, 3:38 pm. See below.] More deal-making in home security today: SimpliSafe has sold a majority stake in the company to private equity firm Hellman & Friedman. Terms of the deal weren’t disclosed in a press release. A spokeswoman says Hellman & Friedman “made a majority investment alongside” SimpliSafe management. Founded in 2006, SimpliSafe … Continue reading “SimpliSafe Sold to Private Equity Firm as Home Security Heats Up”
Shell Backs Openbay, Ex-Nest Exec’s New Startup & More Boston Deals
[Updated 6/29/18, 9:55 am. See below.] Time to catch up on recent news from the Boston-area tech scene: —Monotony.ai, a stealthy new startup based in Watertown, MA, has raised $2.65 million from investors, according to an SEC filing. The company’s website doesn’t offer any clues about what it’s working on, but the new venture is … Continue reading “Shell Backs Openbay, Ex-Nest Exec’s New Startup & More Boston Deals”
EverQuote Founders Talk IPO Fever, Journey from Biotech to Insurance
When I got on the phone Thursday with the leaders of EverQuote, Boston’s newest publicly traded tech company, I expected them to grumble about how I cast their venture as a “company you’ve never heard of” in yesterday’s story about its IPO. On the contrary, EverQuote CEO and co-founder Seth Birnbaum agreed with me. The … Continue reading “EverQuote Founders Talk IPO Fever, Journey from Biotech to Insurance”
BitSight Picks Up $60M to Fend Off Rivals in Cybersecurity Ratings
BitSight Technologies is restocking its war chest to try and win the emerging market for cybersecurity ratings. Today the Cambridge, MA-based tech company announced it raised $60 million in a Series D funding round led by Warburg Pincus, the global private equity firm that has backed the likes of CrowdStrike in cybersecurity, DBRS in credit … Continue reading “BitSight Picks Up $60M to Fend Off Rivals in Cybersecurity Ratings”
EverQuote, a Boston Tech Company You’ve Never Heard of, Going Public
The name EverQuote may not ring a bell for you, although chances are you’ve seen one of its online ads about “disrupting” the insurance industry. The company, which operates an online marketplace for auto, home, and life insurance, has mostly flown under the radar on its way to reaching $120 million-plus in annual revenue and … Continue reading “EverQuote, a Boston Tech Company You’ve Never Heard of, Going Public”
Catalog Hauls In $9M to Make DNA-Based Data Storage Commercially Viable
The practice of encoding data in DNA molecules could be inching closer to graduating from research labs to finding practical commercial use. In the coming years, the explosion of data being generated by computing devices could outstrip the supply of hard drives needed to store it, some industry experts say. Some academic researchers and business … Continue reading “Catalog Hauls In $9M to Make DNA-Based Data Storage Commercially Viable”
Ex-Accomplice Partner Lynch Returns to Corner Office with AtScale
Chris Lynch has been at a crossroads. After departing Accomplice in early 2017, where he spent the previous five years investing in early-stage data science and cybersecurity startups in the Boston area, Lynch says he did a lot of soul-searching to decide whether he wanted to remain a full-time investor or return to his roots … Continue reading “Ex-Accomplice Partner Lynch Returns to Corner Office with AtScale”
Boston Tech Watch: NuTonomy, Crypto Fund, Shyft, Renoviso & More
Lots of news to catch up on in the Boston-area tech sector. This week, we’re tracking an acquisition in healthcare data, the expansion of autonomous vehicle testing in the city, a stealthy cryptocurrency venture fund, and several venture investments. Read on for details. —Shyft Analytics agreed to be acquired by New York-based Medidata (NASDAQ: [[ticker:MDSO]]) … Continue reading “Boston Tech Watch: NuTonomy, Crypto Fund, Shyft, Renoviso & More”
Matrix Partners Holds Steady with $450M Fund, as Other VCs Go Big
[Updated 6/22/18, 10:06 am. See below.] Matrix Partners has raised $450 million for its 11th U.S. venture capital fund, according to a document filed with securities regulators. That’s the same size as Matrix’s last flagship fund, which it closed in 2013. That’s somewhat unusual in the current venture fundraising environment. Many venture firms have been … Continue reading “Matrix Partners Holds Steady with $450M Fund, as Other VCs Go Big”
Analog Devices Aims High With Tech “Garage” Atop Boston Skyscraper
Analog Devices, the 53-year-old semiconductor company, threw a party Tuesday afternoon to celebrate its new technology incubator in Boston, dubbed the Analog Garage—an homage to the innovations that have originated in garages, basements, and other “nondescript quarters” of the world, as the company puts it. But this ain’t no garage or basement. The 25,000-square-foot office … Continue reading “Analog Devices Aims High With Tech “Garage” Atop Boston Skyscraper”
Comcast, ForgePoint Pump $10M Into Security Analytics Startup Uptycs
Uptycs is starting to make some noise. Today, the two-year-old cybersecurity startup announced a $10 million Series A funding round to help expand its team and advance its security analytics software. The investment was led by ForgePoint Capital, a cybersecurity-focused venture firm formerly known as Trident Capital CyberSecurity, and Comcast Ventures, the venture arm of … Continue reading “Comcast, ForgePoint Pump $10M Into Security Analytics Startup Uptycs”
Boston Tech Watch: Airbnb, Tableau, Pillo, Orbita, Validity & More
Here are some of the latest headlines from the Boston-area tech community: —Seattle-based Tableau Software (NYSE: [[ticker:DATA]]) said it acquired Empirical Systems, an automated statistical analysis startup that spun out of MIT’s Probabilistic Computing Project. The price wasn’t disclosed in a press release announcing the deal. Empirical employees will join Tableau, which is establishing a … Continue reading “Boston Tech Watch: Airbnb, Tableau, Pillo, Orbita, Validity & More”
After Departing CyPhy, Helen Greiner to Help U.S. Army in Robotics
Helen Greiner, the robotics expert and entrepreneur who co-founded iRobot, quietly left her most recent startup, the drone venture CyPhy Works, a few months ago, and she is now working with the U.S. Army on robotics and artificial intelligence initiatives. Greiner (pictured) left CyPhy in late 2017 and relinquished her board seat, a company spokesperson … Continue reading “After Departing CyPhy, Helen Greiner to Help U.S. Army in Robotics”
Jibo Lays Off Staff Several Months After Launch of “Social Robot”
Less than a year after Jibo began shipping its long-awaited “social robot” to consumers, the startup has reportedly laid off almost all of its employees. A Jibo spokesperson told BostInno that the company recently carried out a “significant reduction” in its workforce and cut other costs to give the startup “additional time to secure additional … Continue reading “Jibo Lays Off Staff Several Months After Launch of “Social Robot””
Rockwell Automation Pouring $1B into PTC to Push Connected Factories
Rockwell Automation is investing $1 billion in PTC, as the two companies team up to advance their vision of software-driven factories and industrial operations. The companies said Monday they expect their “strategic partnership” to boost both businesses by strengthening their pitch to customers around the world who are interested in enhancing their physical operations with … Continue reading “Rockwell Automation Pouring $1B into PTC to Push Connected Factories”
TraceLink Tracks Down $60M to Fight Counterfeit Drugs Worldwide
A global proliferation of subpar and fake prescription drugs is driving more investment into businesses combating the problem with new software-based systems for tracking the supply chain of pharmaceuticals. TraceLink is one of those companies on the rise, and the North Reading, MA-based firm recently raised $60 million in a new venture capital round, according … Continue reading “TraceLink Tracks Down $60M to Fight Counterfeit Drugs Worldwide”
Boston Tech Watch: Devo, Circle, IBM, 10% Happier, Cuseum & More
Time to catch up on recent Boston tech news, including several venture capital investments, an acquisition in cybersecurity, and a White House tour app developed by a Boston startup in partnership with Amazon. Read on for details. —Devo (no, not that Devo) said it raised $25 million in a Series C funding round led by … Continue reading “Boston Tech Watch: Devo, Circle, IBM, 10% Happier, Cuseum & More”
Waze for the Sky: GE Drone Venture AiRXOS Takes Flight
Despite all the hype and business investment, drones are mostly flown by hobbyists and the military these days, says Ken Stewart. But if he and other drone supporters have their way, the sky will eventually be dotted with unmanned aircraft delivering packages to consumers, transporting organs between hospitals, conducting search missions in remote areas, inspecting … Continue reading “Waze for the Sky: GE Drone Venture AiRXOS Takes Flight”
Pulse@MassChallenge Startups Score More Deals in Program’s 2nd Year
MassChallenge’s experiment in digital health is picking up steam. Pulse@MassChallenge, the healthtech accelerator launched by Boston-based nonprofit organization MassChallenge in 2016, wrapped up its second annual session Tuesday night. The event, held in the Boston Convention and Exhibition Center during the 2018 BIO International Convention, showcased the approximately 30 startups that participated in Pulse’s latest … Continue reading “Pulse@MassChallenge Startups Score More Deals in Program’s 2nd Year”
Athenahealth CEO Jonathan Bush Steps Down as Company Considers Sale
Athenahealth announced Wednesday that Jonathan Bush, its co-founder and chief executive, is stepping down, and the healthcare IT company will explore “strategic alternatives” that could include a sale. The news sent Athenahealth’s stock price up about 4 percent Wednesday morning, to more than $157 per share, as of this writing. The moves come a month … Continue reading “Athenahealth CEO Jonathan Bush Steps Down as Company Considers Sale”
Sun Life Financial Buys Maxwell Health to Ease Insurance Buying
Maxwell Health’s quest to simplify the mind-numbing tasks of buying health insurance and administering other employee benefits will now continue under the wing of one of the startup’s investors. Boston-based Maxwell announced Monday it has been acquired by Sun Life Financial (NYSE: [[ticker:SLF]]), a Toronto, Canada-based company that sells insurance and provides a variety of … Continue reading “Sun Life Financial Buys Maxwell Health to Ease Insurance Buying”
Online Insurance Marketplace EverQuote Plans IPO: 4 Takeaways
The tech IPO revival of 2018 continues. EverQuote, a Boston-area company that operates an online insurance marketplace, filed documents with the SEC on Friday indicating it intends to go public. EverQuote said it might raise up to $75 million in an initial public stock offering, although that number could shift if the Cambridge, MA-based company … Continue reading “Online Insurance Marketplace EverQuote Plans IPO: 4 Takeaways”
Banks & Insurers Seek Out Startups in New MassChallenge Accelerator
Big corporations increasingly say they see startups as friends, not enemies. The latest example is a new financial technology accelerator in Boston led by MassChallenge, the nonprofit organization that runs a global network of startup support programs that don’t take equity stakes in the companies. MassChallenge FinTech will match early-stage ventures with well-established industry partners … Continue reading “Banks & Insurers Seek Out Startups in New MassChallenge Accelerator”
Boston Tech Watch: FrontStream, M.Gemi, Lendbuzz, Gravyty, CyberSaint
Here are some of the latest investments and acquisitions in Boston-area tech: —Boston-based Lendbuzz grabbed a $30 million investment led by BHI USA, the U.S. division of Israel-based Bank Hapoalim Group, according to an announcement e-mailed to Xconomy. The online lending startup has raised a total of $45 million in equity and debt funding since launching … Continue reading “Boston Tech Watch: FrontStream, M.Gemi, Lendbuzz, Gravyty, CyberSaint”
Ex-Endurance Execs Grab $12M for New Software Startup iSubscribed
A group of former Endurance International Group executives has raised $12.1 million in venture capital to jumpstart a new tech company called iSubscribed. The investment was revealed in a recent document filed with the SEC, and iSubscribed managing partner Hari Ravichandran confirmed the funding in a LinkedIn message. He declined to share more details. Ravichandran … Continue reading “Ex-Endurance Execs Grab $12M for New Software Startup iSubscribed”
Boston Tech Watch: OM1, Tidelift, Notarize, Iboss, Elucidata & More
Before everyone checks out for the long weekend, let’s catch up on some recent Boston-area tech news: —Healthcare technology startup OM1 announced it closed a $21 million Series B funding round led by Polaris Partners, which invested alongside earlier OM1 backers, including General Catalyst Partners and 7wire Ventures. Polaris’s Dave Barrett will join OM1’s board. … Continue reading “Boston Tech Watch: OM1, Tidelift, Notarize, Iboss, Elucidata & More”
Paddy Power to Buy FanDuel After Supreme Court Paves Way for Betting
[Updated 5/24/18, 3:16 pm. See below.] The dominoes are starting to fall in the wake of a U.S. Supreme Court decision this month that opened the door for states to legalize sports gambling. FanDuel has agreed to be acquired by Ireland-based Paddy Power Betfair, a global sports betting and gaming company. New York-based FanDuel is … Continue reading “Paddy Power to Buy FanDuel After Supreme Court Paves Way for Betting”
Superpedestrian Scoops Up $16.5M, Enters Bike-Sharing Frenzy
Bike sharing is the new ride hailing. Similar to what has played out with Uber, Lyft, Didi Chuxing, and other private car-hailing app companies, investors are pumping hundreds of millions of dollars into bike-sharing startups around the world racing to be the leading operator of fleets of bicycles that people can rent on demand. The … Continue reading “Superpedestrian Scoops Up $16.5M, Enters Bike-Sharing Frenzy”
Amid Housing Boom, Hometap Raises $12M to Buy a Piece of Your Home
[Updated 5/23/18, 9:40 am. See below.] Jeff Glass is back in the CEO chair at a startup, and this time he’s venturing into one of the oldest and, at the moment, hottest industries: real estate. Glass is an entrepreneur and investor who is well-known in Boston tech circles for leading m-Qube, the mobile content-delivery company … Continue reading “Amid Housing Boom, Hometap Raises $12M to Buy a Piece of Your Home”
NewStore Bags $20M After Ex-Victoria’s Secret, TJX CEOs Join Board
[Updated 5/21/18, 3:43 pm. See below.] Mobile commerce startup NewStore has hauled in $20 million in fresh venture capital, according to a document filed with the SEC. That brings the Boston-based company’s funding total to around $109 million, according to SEC filings. Its previous backers include Activant Capital, General Catalyst Partners, and Stephan Schambach, NewStore’s … Continue reading “NewStore Bags $20M After Ex-Victoria’s Secret, TJX CEOs Join Board”
Microsoft Snaps Up Semantic Machines to Push Conversational A.I.
[Updated 5/21/18, 3:16 pm. See below.] Microsoft said it has acquired “conversational A.I.” startup Semantic Machines, as it tries to bolster its artificial intelligence capabilities in its longstanding competition with Google, Apple, Amazon, Baidu, and other tech leaders. The purchase price wasn’t disclosed in a Microsoft blog post announcing the deal on Sunday. Semantic Machines … Continue reading “Microsoft Snaps Up Semantic Machines to Push Conversational A.I.”
Underscore VC Quickly Raises $117M for Second Early-Stage Fund
Underscore VC’s partners planned to begin seeking capital for the firm’s second early-stage venture fund in the fall. Instead, their backers approached them, eager to re-invest. “We were pre-empted,” says co-founder and partner Michael Skok. “That’s pretty unusual.” The result of those talks is being announced Thursday: Underscore’s investors are pouring $116.9 million into the … Continue reading “Underscore VC Quickly Raises $117M for Second Early-Stage Fund”
Boston Tech Watch: SmartBear, Wellist, LogoMix, Biobot, NEVYs & More
[Updated 5/16/18, 10:09 am. See below.] It’s time to catch up on recent news from the Boston-area tech sector, including a pair of acquisitions; investments in digital health, artificial intelligence, and wastewater analytics; and scenes from this year’s “Star Wars”-themed NEVY Awards. Read on for details. —Boston-based LogoMix, a provider of logo design tools and … Continue reading “Boston Tech Watch: SmartBear, Wellist, LogoMix, Biobot, NEVYs & More”
Circle Grabs $110M, Will Launch U.S. Dollar-Backed Cryptocurrency
The founders of Circle Internet Financial have a lofty vision for the nascent world of cryptocurrencies and blockchain systems—and their startup’s role in it. Now, they have more resources to try and execute that vision. Boston-based Circle announced Tuesday it raised $110 million in a Series E equity funding round, and it plans to launch … Continue reading “Circle Grabs $110M, Will Launch U.S. Dollar-Backed Cryptocurrency”
Vesper Mics Up With $23M From Amazon, American Family, Baidu, Bose
Vesper Technologies, a high-tech microphone startup trying to ride the wave of voice-controlled devices, has summoned a $23 million investment from a group of well-known tech companies, venture capitalists, and an insurance firm. The Series B funding round was led by American Family Ventures, the venture arm of Madison, WI-based American Family Insurance. Other investors … Continue reading “Vesper Mics Up With $23M From Amazon, American Family, Baidu, Bose”
DraftKings, FanDuel Eye Sports Betting After Supreme Court Ruling
The game could be changing for daily fantasy sports companies DraftKings and FanDuel. In a landmark ruling Monday, the U.S. Supreme Court struck down a 1992 federal law that prohibited most states from authorizing betting on college and professional sports. The court’s decision paves the way for states to legalize sports gambling, and daily fantasy … Continue reading “DraftKings, FanDuel Eye Sports Betting After Supreme Court Ruling”