[Updated 5/14/18, 2:25 pm. See below.] Boston-area venture capitalists are stocking up on cash to invest in more startups. Here is the latest fundraising news: —OpenView Venture Partners appears to have raised nearly $297 million for its fifth fund, according to a new SEC filing. That exceeded the $250 million target OpenView disclosed in a … Continue reading “Boston VC Fundraising News: OpenView, CRV, Material Impact”
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.
Greentown Expands Space for “Scrappy” Cleantech Startups: Photos
It takes perseverance to make it in cleantech, perhaps even more in recent years than before. Venture capitalists have scaled back their cleantech investments since 2011, thanks in part to big failures like Solyndra and macro trends like cheaper natural gas and solar panels, according to a Brookings Institution report last year. That has led … Continue reading “Greentown Expands Space for “Scrappy” Cleantech Startups: Photos”
USA Today Owner Gannett to Buy Digital Marketer WordStream for $130M
WordStream, one of the veterans of Boston’s digital marketing sector, is being acquired by Gannett, the publisher of USA Today and a network of local newspapers around the country. McLean, VA-based Gannett (NYSE: [[ticker:GCI]]) said it has agreed to pay $130 million in cash, net of cash acquired, plus up to $20 million in additional … Continue reading “USA Today Owner Gannett to Buy Digital Marketer WordStream for $130M”
Fuze Bags $150M as Business Communications Competition Heats Up
Another year, another $100 million-plus funding round for Fuze, the cloud-based business communications software company. Boston-based Fuze said Wednesday evening that it recently raised a $150 million equity funding round led by Summit Partners, which was joined in the investment by other previous Fuze backers, including Bessemer Venture Partners. Fuze pulled in a $134 million … Continue reading “Fuze Bags $150M as Business Communications Competition Heats Up”
Intel Leads $20M Investment in Transparent A.I. Startup Gamalon
Gamalon, a startup that says it has developed artificial intelligence-like software that avoids some of the drawbacks of popular machine learning techniques, has received a big endorsement of its approach. On Tuesday, the Cambridge, MA-based company announced a $20 million Series A funding round led by Intel Capital. Other backers of the round included .406 … Continue reading “Intel Leads $20M Investment in Transparent A.I. Startup Gamalon”
Akili Grabs $55M, Seeking FDA Approval of First Video Game Therapy
[Corrected 5/9/18, 9:59 am. See below.] Akili Interactive Labs has scooped up another pile of cash to help bring its first product to the market: an experimental mobile video game aimed at assessing and treating attention deficit hyperactivity disorder. Boston-based Akili said Wednesday it closed a $55 million Series C funding round led by Singapore-based … Continue reading “Akili Grabs $55M, Seeking FDA Approval of First Video Game Therapy”
Activist Investor Elliott Management Eyes $7B Deal for Athenahealth
Elliott Management, the activist investor that purchased a 9 percent stake in Athenahealth last year, now wants to buy the whole company for nearly $7 billion, a deal that could bring more changes to the healthcare IT company. Elliott proposes to acquire Watertown, MA-based Athenahealth (NASDAQ: [[ticker:ATHN]]) for $160 per share in cash, the New … Continue reading “Activist Investor Elliott Management Eyes $7B Deal for Athenahealth”
Boston Tech Watch: Teradyne, American Well, Namogoo, Sentenai & More
[Updated 5/7/18, 12:17 pm. See below.] It’s time to catch up on some recent deals and other news from the Boston-area tech scene: —Teradyne (NYSE: [[ticker:TER]]), a North Reading, MA-based seller of robots and automatic test equipment for checking semiconductors and other electronics, recently said it purchased Denmark-based Mobile Industrial Robots, known as MiR, for … Continue reading “Boston Tech Watch: Teradyne, American Well, Namogoo, Sentenai & More”
Carbon Black CTO: “Right Time” For IPO; So Far, Wall Street Agrees
[Updated 5/4/18, 4:34 pm. See below.] Timing is everything in business. For private companies aiming to go public, it’s impossible to know the ideal moment to make a stock market debut. But Carbon Black chief technology officer Mike Viscuso is feeling good today, after his cybersecurity company’s stock performed well on its first day of … Continue reading “Carbon Black CTO: “Right Time” For IPO; So Far, Wall Street Agrees”
Carbon Black Raising $152M as Tech IPOs Stage Comeback
Into the breach goes Carbon Black. The Waltham, MA-based cybersecurity company said Thursday night that it is raising $152 million in an initial public stock offering by selling 8 million shares of its common stock at $19 per share. That gives Carbon Black an implied valuation of more than $1.2 billion. Carbon Black said its … Continue reading “Carbon Black Raising $152M as Tech IPOs Stage Comeback”
Spyce, MIT-Born Robotic Kitchen Startup, Launches Restaurant: Video
The Thai chicken bowl from Spyce Food’s new restaurant in downtown Boston wasn’t life-changing, but it’s one of the better meals I’ve had from a “fast casual” restaurant—and certainly the best I’ve had that was prepared mostly by robots. OK, it’s the first meal I’ve eaten that was cooked by a robotic system, with help … Continue reading “Spyce, MIT-Born Robotic Kitchen Startup, Launches Restaurant: Video”
Toast Launches Restaurant Payments Device to Take on Samsung, Square
[Corrected 5/1/18, 9:59 am. See below.] Toast, one of the biggest venture-backed startup bets in Boston, is getting more ambitious with its restaurant technology products. The seven-year-old company sells cloud-based software that can handle a range of tasks for eateries, including executing payments, either through computers at the counter or right at the table with … Continue reading “Toast Launches Restaurant Payments Device to Take on Samsung, Square”
Techstars Boston Demo Day: VC Gets More Selective, Plus 3 Takeaways
[Corrected 4/28/18, 5:14 pm. See below.] It’s getting tougher out there for early-stage startups, but Techstars Boston keeps plugging away. In the age of “unicorns” and “mega-rounds” of venture capital, investors are placing bigger bets on fewer, often later-stage, companies. At the early stages, deal sizes are also growing, but the number of investments continues … Continue reading “Techstars Boston Demo Day: VC Gets More Selective, Plus 3 Takeaways”
Boston Tech Watch: SidelineSwap, Cogito, Nebulous, Billshark & More
It’s time to catch up on the latest venture funding news in the Boston area, from blockchain tech to data analytics, to selling sports gear online. Read on for details. —SidelineSwap, the Boston-based operator of an online sports gear marketplace, said it closed a $5 million Series A funding round led by Global Founders Capital. … Continue reading “Boston Tech Watch: SidelineSwap, Cogito, Nebulous, Billshark & More”
Boston Deal News: Digg, Bose, TripAdvisor, Vets First Choice, Examity
[Updated 4/26/18, 3:30 pm. See below.] Boston-area technology companies have played dealmaker lately, with notable mergers and acquisitions in augmented reality, online news curation, tourism tech, education, and veterinary software. Read on for details. —Boston-based advertising technology firm BuySellAds has acquired online news aggregator Digg for an undisclosed price, according to a report by Fast … Continue reading “Boston Deal News: Digg, Bose, TripAdvisor, Vets First Choice, Examity”
Blockchain Gets Real? IBM Advances Projects With Walmart & Others
For all the hype surrounding the potential for blockchain systems to transform many industries, the technology has yet to have much of an impact on businesses. But 2018 is shaping up to be a critical year for the budding sector: more companies are increasing their investments in blockchains and expanding test programs, says Ramesh Gopinath, … Continue reading “Blockchain Gets Real? IBM Advances Projects With Walmart & Others”
Trade War Looming, 3D Printing Startup Formlabs Ups China Investment
Formlabs sees China as one of the keys to expanding 3D printing technology’s role in manufacturing, and the Massachusetts-based startup plans to grow its business there with the help of a recent $30 million venture funding round and some new investors located in China. Xconomy reported Formlabs’ latest investment in early April after spotting a … Continue reading “Trade War Looming, 3D Printing Startup Formlabs Ups China Investment”
Boston Tech Watch: Kyruus, Kolide, Nano-C, BookingBug
Time to catch up on the latest tech headlines from the Boston area: —Westwood, MA-based Nano-C said it closed an $11.5 million funding round that was capped off by a $3 million investment from Ray Stata, the co-founder of Norwood, MA-based semiconductor company Analog Devices (NASDAQ: [[ticker:ADI]]). Founded in 2001, Nano-C has developed “nanostructured” carbon … Continue reading “Boston Tech Watch: Kyruus, Kolide, Nano-C, BookingBug”
Shapeways Adds $30M to Push “Mass Personalization” Via 3D Printing
Shapeways, a New York-based 3D printing company, has raised $30 million in new funding to help expand its services for product designers aspiring to build successful small businesses. Shapeways, which has raised more than $100 million to date, operates an online marketplace where designers and others with product ideas can sell their 3D-printed wares, such … Continue reading “Shapeways Adds $30M to Push “Mass Personalization” Via 3D Printing”
Marketing Chatbot Firm Drift Grabs $60M Led By Sequoia, Sans HubSpot
David Cancel and Elias Torres built their last startup, a marketing automation company called Performable, with just $3 million from venture capitalists. They raised that funding round in late 2009, and about 18 months later they sold the company to HubSpot (NYSE: [[ticker:HUBS]])—a larger sales and marketing tech firm based in Cambridge, MA—for a reported … Continue reading “Marketing Chatbot Firm Drift Grabs $60M Led By Sequoia, Sans HubSpot”
Adecco to Buy General Assembly for $412.5M to Grow Tech Workforce
The Adecco Group, the global staffing and worker training giant, has inked a $412.5 million agreement to acquire General Assembly, a tech training and career development company that offers courses online and at 20 campuses worldwide. The deal underscores the growing demand for software coding and other digital skills—and employers’ increased willingness to turn to … Continue reading “Adecco to Buy General Assembly for $412.5M to Grow Tech Workforce”
Boston Tech Watch: Terrafugia, Akamai, Brightcove, Zaius & More
It’s time to catch up on some of the latest Boston tech news: —Zaius, a Boston-based marketing technology startup, said it pulled in a $30 million investment, bringing its venture capital haul to $50.8 million. Insight Venture Partners led the Series B funding round, and earlier Zaius backers Matrix Partners, Underscore VC, and Leaders Fund … Continue reading “Boston Tech Watch: Terrafugia, Akamai, Brightcove, Zaius & More”
Onapsis Bags $31M as U.S. Cybersecurity Funding Slows
The U.S. cybersecurity industry has seen a decline in venture capital investments recently, but Boston-area security startups are having a good week. On Tuesday, Boston-based ObserveIT said it recently pulled in a Series B investment led by Bain Capital Ventures. The Boston Business Journal reported the initial amount was $16 million, but that number could … Continue reading “Onapsis Bags $31M as U.S. Cybersecurity Funding Slows”
Boston VC Continues Surge in Q1; Here are the Top 10 Deals
Venture capital continued to flow to Boston-area companies at a prolific rate during the first quarter of 2018, as investors picked up where they left off last year. In the first three months of the year, venture capitalists pumped more than $2.7 billion into companies located in the Boston metropolitan area, according to data from … Continue reading “Boston VC Continues Surge in Q1; Here are the Top 10 Deals”
Circle CEO Allaire on Bitcoin, Blockchain & the Bank of the Future
Depending on whom you talk to, cryptocurrencies could be the biggest bubble in history or the backbone of the future global economy—or both. The reality is it’s too early to say. The industry must still navigate a host of issues, including wild price swings, global regulatory uncertainty, cyber threats, and technological limitations of blockchain systems, … Continue reading “Circle CEO Allaire on Bitcoin, Blockchain & the Bank of the Future”
Cybersecurity Firm Carbon Black Advances IPO After Years of Rumors
Carbon Black is moving closer to a long-anticipated initial public stock offering. The Boston-area cybersecurity company filed an S-1 document with the SEC on Monday indicating it might raise up to $100 million in an IPO, although that number could shift if Carbon Black ends up going public. It has applied to trade on the … Continue reading “Cybersecurity Firm Carbon Black Advances IPO After Years of Rumors”
Boston Tech Watch: Harvard Accelerator, Garden Robot Funding & More
[Updated, 10:54am. See below] This week in Boston tech, we’re tracking a new accelerator program at Harvard University; a key hire by a Babson College program that supports women entrepreneurs; and recent venture capital investments in robotics, artificial intelligence, materials science, and marketing. Read on for details. —Harvard Innovation Labs created Launch Lab X, a … Continue reading “Boston Tech Watch: Harvard Accelerator, Garden Robot Funding & More”
Harvard-Born Quantum Software Startup Zapata Computing Raises $5.4M
Zapata Computing, a stealthy “quantum software and services company” that is collaborating with IBM, has pulled in $5.4 million in equity funding from investors, according to a document filed with the SEC this week. The young Cambridge, MA-based startup was launched last year by a group of Harvard University scientists, including Alán Aspuru-Guzik, according to … Continue reading “Harvard-Born Quantum Software Startup Zapata Computing Raises $5.4M”
Formlabs Pulls In $30M to Push Line of 3D Printers
The hype over consumer 3D printing has waned, but the case for selling the machines to businesses seems to be growing stronger—and the venture capital is pouring in. The latest to cash in is Somerville, MA-based Formlabs, which recently raised $30 million in new equity funding, according to a document filed with the SEC this … Continue reading “Formlabs Pulls In $30M to Push Line of 3D Printers”
With $25M in Tow, 6 River Systems Aims to Advance Warehouse Robotics
The land grab in the warehouse automation market is intensifying. After Amazon (NASDAQ: [[ticker:AMZN]]) paid $775 million for Kiva Systems in 2012, it began deploying the startup’s package-toting robots in its distribution centers worldwide—and stopped selling the machines to other companies. That move helped spur a new wave of warehouse robotics startups trying to meet … Continue reading “With $25M in Tow, 6 River Systems Aims to Advance Warehouse Robotics”
Reports: Walmart Wants to Buy PillPack, as Healthcare Ambitions Grow
Walmart is reportedly talking with PillPack about acquiring the online pharmacy and medication management company, a deal that would strengthen the retail giant’s healthcare offerings and potentially help it fend off Amazon if the Seattle e-commerce company starts selling prescription drugs. The PillPack acquisition talks were first reported by CNBC and later confirmed by other … Continue reading “Reports: Walmart Wants to Buy PillPack, as Healthcare Ambitions Grow”
GE Sheds Health IT Assets for $1B, Doubles Down on A.I. and Devices
General Electric is selling a chunk of its healthcare IT business to New York private equity firm Veritas Capital for $1.05 billion in cash, as GE (NYSE: [[ticker:GE]]) chief executive John Flannery aims to streamline the Boston-based industrial behemoth and reverse a steep decline in its stock price. Veritas has agreed to acquire GE Healthcare’s … Continue reading “GE Sheds Health IT Assets for $1B, Doubles Down on A.I. and Devices”
Boston Tech Watch: ICO Shutdowns, MIT Media Lab Fund, Webb’s New Gig
Here are some of the latest headlines in Boston-area tech: —Massachusetts Secretary of State William Galvin’s office said it put a stop to “initial coin offerings” by five companies based here, saying that they violated securities laws. That action follows the January filing of administrative charges against another company, Caviar, claiming its ICO was an … Continue reading “Boston Tech Watch: ICO Shutdowns, MIT Media Lab Fund, Webb’s New Gig”
Flipside Crypto Grabs $3.4M to Push Algorithms for Crypto Investing
Data-crunching algorithms have become a popular—and controversial—tool on Wall Street in recent years. Now, they’re starting to be used to guide investments in cryptocurrencies, too. The emerging strategy raises a number of interesting questions for the young and volatile cryptocurrency market. Among them: What types of data should be considered when trying to predict the … Continue reading “Flipside Crypto Grabs $3.4M to Push Algorithms for Crypto Investing”
Diane Hessan Seeks Common Ground in Era of Fake News and Facebook
When I sit down with Diane Hessan for a recent conversation, the entrepreneur, startup investor, and budding political researcher is nothing but hearty laughs, cool optimism, and earnest passion about her work. That’s despite having spent the past year and a half corresponding with hundreds of American voters on a weekly basis, during one of … Continue reading “Diane Hessan Seeks Common Ground in Era of Fake News and Facebook”
General Catalyst Bags $1.4B for Ninth Fund as Tech Investors Go Big
[Updated 3/27/18, 10:27 am. See below.] General Catalyst Partners is the latest venture capital firm to join the billion dollar fund club. The Cambridge, MA-based firm’s latest fund—its ninth—clocked in at $1.375 billion, according to a document filed with the SEC. That’s a significant jump from its last fundraising effort two years ago, when General … Continue reading “General Catalyst Bags $1.4B for Ninth Fund as Tech Investors Go Big”
Boston Tech Watch: Desktop Metal, Nuance, Zagster, Elephant & More
[Updated 3/24/18, 1:38 pm. See below.] This week in Boston tech, we’re tracking a 3D printing rivalry now headed to court, layoffs at a local bike-sharing startup, a leadership transition, more money for two venture capital firms, and an investment in a stealthy startup that appears to have MIT ties. Read on for details. —Burlington, … Continue reading “Boston Tech Watch: Desktop Metal, Nuance, Zagster, Elephant & More”
After Decades of R&D, Bose Amps Up VC Deals in AR, Wearables, Wellness
[Updated 3/22/18, 1:14 pm. See below.] For the first 50 years of its existence, Bose Corporation invested primarily in in-house research and development to produce its lineup of high-end headphones, speakers, and other audio technologies. Bose’s Steve Romine says that’s still an important focus for the Framingham, MA-based company, which has been awarded hundreds of … Continue reading “After Decades of R&D, Bose Amps Up VC Deals in AR, Wearables, Wellness”
Affectiva Launches A.I. Tech to Help Cars Sense Your Emotions
Efforts to develop self-driving vehicles have largely focused on tracking what’s going on outside the cars—think laser-based sensors to track other vehicles and digital mapping technologies to help navigate. Now, the industry is turning some of its attention to technologies that sense what’s going on inside the vehicle. An initial goal is to better monitor … Continue reading “Affectiva Launches A.I. Tech to Help Cars Sense Your Emotions”
Job Destroyers or Helpers? Amazon, FedEx Hiring More Robots & Humans
Advances in robotics and artificial intelligence technologies have stoked fears that machines are coming for humans’ jobs in a variety of industries. Some executives of robotics companies have tried to allay those concerns, arguing that in many cases, people’s roles will evolve, but technology won’t eliminate their jobs completely. A report by The New York … Continue reading “Job Destroyers or Helpers? Amazon, FedEx Hiring More Robots & Humans”
Ford Leads $65M Round for 3D Printing Startup Desktop Metal
Desktop Metal, the well-funded metal 3D-printing startup, is adding more money to its coffers from another high-profile investor. Ford has led a new $65 million investment round in Burlington, MA-based Desktop Metal, the company announced Monday. Earlier backer Future Fund also contributed to the round. Ford chief technology officer Ken Washington is joining Desktop Metal’s … Continue reading “Ford Leads $65M Round for 3D Printing Startup Desktop Metal”
Boston Tech Watch: Raytheon, Palantir, CyberArk, CIC, Nectome & More
[Updated 3/16/18, 8:59 am. See below.] Here are some notable recent headlines from the Boston-area tech scene, including Raytheon and Palantir teaming up for a huge Army contract, another CyberArk acquisition, and a startup that wants to digitally archive your mind. Read on for details. —Waltham, MA-based defense contractor Raytheon (NYSE: [[ticker:RTN]]) and Palantir Technologies—the … Continue reading “Boston Tech Watch: Raytheon, Palantir, CyberArk, CIC, Nectome & More”
Ex-Imprivata CEO Takes Helm at Placester, Upping IPO Stakes
[Updated 3/14/18, 5:35 pm. See below.] It’s a common tale in the startup world: A founding CEO builds the company, and eventually a more seasoned executive is brought in to lead the business to (ideally) new heights. That’s the play Placester is making. The Boston-based real estate software company announced Wednesday that it hired Omar … Continue reading “Ex-Imprivata CEO Takes Helm at Placester, Upping IPO Stakes”
DraftKings CEO on Failed Merger, IPO Plans, Sports Betting Prospects
DraftKings has been busy since its proposed merger with FanDuel was scrapped last summer, after the two daily fantasy sports rivals decided not to fight a federal agency’s antitrust challenge to the deal. Boston-based DraftKings has since made a series of small moves to expand its business beyond its core paid daily fantasy sports contests. … Continue reading “DraftKings CEO on Failed Merger, IPO Plans, Sports Betting Prospects”
Aquent Founder Pumps $100M Into Recruiting Marketplace Scout Exchange
In today’s job market, as U.S. hiring rises and the unemployment rate remains low, it’s even more important for employers to quickly find the right candidates to fill positions. That could spell more demand for recruiting websites like Scout Exchange—and investors are betting big on the Boston startup. Scout Exchange announced today that it has … Continue reading “Aquent Founder Pumps $100M Into Recruiting Marketplace Scout Exchange”
Boston Tech Watch: Akamai, Zuckerberg, Firecracker, Luminoso & More
[Updated 3/9/18, 2:30 pm. See below.] Here are some of the latest headlines from the Boston-area tech scene: —Wolters Kluwer Health said it reached a deal to acquire Firecracker, a Boston-based company that sells software that helps medical students prepare for exams. The purchase price wasn’t disclosed. Nine-year-old Firecracker has 16 employees, according to a … Continue reading “Boston Tech Watch: Akamai, Zuckerberg, Firecracker, Luminoso & More”
After Escher Exit, MIT Sandbox Aims to Mold More Student Startups
[Editor’s note: This is part of a series of stories examining entrepreneurship on MIT’s campus and beyond.] When Escher Reality announced in February that it had been acquired by Niantic, the augmented reality company that created Pokémon Go, it was a big win for the young, six-person startup born at MIT. It also provided some … Continue reading “After Escher Exit, MIT Sandbox Aims to Mold More Student Startups”
S&P Global Snaps Up Kensho for $550M as Wall Street Adopts A.I.
S&P Global plans to acquire Kensho Technologies for $550 million in a deal that demonstrates the increasing importance of data analytics and machine learning technologies on Wall Street. The acquisition price includes an unspecified mix of cash and stock, and is net of cash acquired, S&P Global (NYSE: [[ticker:SPGI]]) said in a press release. Artificial … Continue reading “S&P Global Snaps Up Kensho for $550M as Wall Street Adopts A.I.”
Pixability Taps Ex-Facebook Exec as CEO, Founder Takes Board Role
Bettina Hein is stepping down as CEO of Pixability, the Boston-based video advertising software company she founded a decade ago. David George is taking the helm of Pixability, and Hein (pictured) will shift to the role of executive chairwoman, the company announced Tuesday. According to George’s LinkedIn profile, he was previously Facebook’s (NASDAQ: [[ticker:FB]]) head … Continue reading “Pixability Taps Ex-Facebook Exec as CEO, Founder Takes Board Role”
As Apple Takes Lead in Wearables, Whoop Grabs $25M to Expand
Whoop took a different approach to try and break into the crowded wearable device market: Start by winning over professional athletes, then gradually expand sales to a wider array of consumers. The Boston-based startup, which unveiled its biometrics-monitoring wristbands two-and-a-half years ago, has had success with the first goal. Now, it says it’s making progress … Continue reading “As Apple Takes Lead in Wearables, Whoop Grabs $25M to Expand”