[Corrected 3/3/18, 10:41 am. See below.] Fasten said its U.S. ride-hailing service will shut down Monday after the startup agreed to be acquired by Russia-based transportation network operator Vezet Group. The purchase price wasn’t disclosed. Boston-based Fasten had raised nearly $20 million in equity, debt financing, and other securities, according to SEC filings. Its investors … Continue reading “Fasten Ends Ride-Hailing Service in Boston & Austin After Sale”
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: Amazon, Akamai, Asics, Avid, Baroo, ShoeBuy & More
This week in Boston tech, we’re tracking a powerful cyber attack that Akamai Technologies reportedly helped to get under control, more Amazon expansion news, OpenView’s efforts to boost women investors and entrepreneurs, shoe companies’ local expansion, and more. Read on for details. —Software from Akamai (NASDAQ: [[ticker:AKAM]]) helped GitHub, the popular software development platform, fend … Continue reading “Boston Tech Watch: Amazon, Akamai, Asics, Avid, Baroo, ShoeBuy & More”
Akamai, Grousbeck’s Fund, Feature Labs & More Boston Deal News
It’s time to catch up on some of the latest venture funding and acquisition news from the Boston-area tech sector: —In a regulatory filing, Akamai Technologies (NASDAQ: [[ticker:AKAM]]) revealed the purchase prices for two acquisitions it made last year: $199.3 million in cash for Soasta and $180.3 million in cash for Nominum. Read more about … Continue reading “Akamai, Grousbeck’s Fund, Feature Labs & More Boston Deal News”
In 5D Deal, “Microlocation” Startup Humatics Eyes Smart Cities, Cars
As robots become more intelligent, mobile, and prevalent in everyday life, humans will have to figure out how to coexist with these more advanced machines. That prospect raises plenty of deep questions, but a simpler, more immediate concern is making sure mobile machines can navigate their surroundings without injuring humans or causing other kinds of … Continue reading “In 5D Deal, “Microlocation” Startup Humatics Eyes Smart Cities, Cars”
After Triton Attack, CyberX Nabs $18M to Defend Industrial Networks
Cyber threats to industrial connected devices and critical infrastructure are growing, and more money is flowing into companies trying to thwart those attacks. The latest deal is an $18 million investment in CyberX, a Boston-area startup whose software helps secure Internet-connected devices and networks in factories, oil rigs, electrical grids, pharmaceutical labs, and other industrial … Continue reading “After Triton Attack, CyberX Nabs $18M to Defend Industrial Networks”
Moltin Gets $8M Round Led By Underscore, Names Ex-Demandware Exec CEO
As shopping experiences continue to take new forms—think social media, smart televisions, virtual assistants, and video games—the complexity of building and managing multi-faceted e-commerce systems is growing. That creates opportunities for companies like Moltin, a startup that develops cloud-based software tools that power the back-end infrastructure of e-commerce applications. Its application programming interfaces (APIs) and … Continue reading “Moltin Gets $8M Round Led By Underscore, Names Ex-Demandware Exec CEO”
Circle Buys Coinbase Rival Poloniex to Expand Cryptocurrency Services
[Updated 2/26/18, 11:28 a.m. See below.] Circle said it has acquired cryptocurrency exchange operator Poloniex, as the Boston-based startup gets more aggressive in its bid to become one of the key providers of enabling technologies for virtual currencies. The deal, announced Monday, was for approximately $400 million, according to Fortune, which cited an anonymous source. … Continue reading “Circle Buys Coinbase Rival Poloniex to Expand Cryptocurrency Services”
Chasing A.I. Breakthroughs: Q&A With Director of New MIT-IBM Lab
For all the progress that has been made in developing artificial intelligence technologies in recent years, the software “brains” that power machines are still nowhere near the sophistication of human minds. And advancing the field will require bold, new ideas, says A.I. researcher David Cox. Cox (pictured) has spent the past 11 years at Harvard … Continue reading “Chasing A.I. Breakthroughs: Q&A With Director of New MIT-IBM Lab”
Zagster Gets $15M to Keep Pace in Crowded Bike-Sharing Sector
Zagster has scooped up $15 million from investors to help it ramp up its new “dockless” bike-sharing service—and compete with more heavily funded rivals. The investment, led by earlier backer Edison Partners, brings Zagster’s total venture capital haul to $32.2 million, the company said in a press release. Cambridge, MA-based Zagster’s other investors include LaunchCapital, … Continue reading “Zagster Gets $15M to Keep Pace in Crowded Bike-Sharing Sector”
Boston Tech Watch: Nuance, Harvard, MIT, Jobcase, Panjiva & More
It’s time to catch up on some of the latest headlines in the Boston-area tech scene: —Nuance Communications is planning to phase out the Swype mobile keyboard apps for iOS and Android smartphones, according to a post from Xda Developers, which said it got confirmation from Burlington, MA-based Nuance (NASDAQ: [[ticker:NUAN]]). Nuance bought Swype in … Continue reading “Boston Tech Watch: Nuance, Harvard, MIT, Jobcase, Panjiva & More”
Google Buys Xively From LogMeIn, Folds In Nest to Advance in IoT
Google is ramping up its efforts in connected devices for homes and businesses as competition with Amazon, Apple, and other big tech companies heats up. Despite its prowess in machine learning and other A.I. technologies, Google may have some catching up to do in the so-called Internet of Things (IoT) sector. That’s the burgeoning market … Continue reading “Google Buys Xively From LogMeIn, Folds In Nest to Advance in IoT”
MIT’s Micali Talks Algorand, Bitcoin & Society’s “Honest Majority”
Silvio Micali says he mistimed his first two technology startups. But the renowned MIT professor thinks he’s hitting the market at the right moment with his latest company, Algorand, which plans to launch a blockchain-based virtual currency and transactions system this year. Micali, a cryptographer who has won the prestigious A.M. Turing Award, previously co-founded … Continue reading “MIT’s Micali Talks Algorand, Bitcoin & Society’s “Honest Majority””
Algorand Nabs $4M for Blockchain Aiming to Avoid Bitcoin’s Flaws
A new startup out of MIT called Algorand has raised $4 million from investors to help it launch a blockchain-based system that the company says could address some of the technological problems dogging Bitcoin and other popular digital currencies. Pillar Companies and Union Square Ventures are the investors in Boston-based Algorand’s seed funding round announced … Continue reading “Algorand Nabs $4M for Blockchain Aiming to Avoid Bitcoin’s Flaws”
Paths of Carbonite and Mozy “Come Full Circle” in Data Backup Deal
[Updated 2/27/18, 2:29 pm. See below.] Before Dropbox and Google Drive, there was Carbonite and Mozy. Both of those pioneer firms launched in 2005, and were among the early players in online data backup services. They enabled people to pay a few bucks a month for software that automatically encrypts the information on their hard … Continue reading “Paths of Carbonite and Mozy “Come Full Circle” in Data Backup Deal”
Everbridge Eyes International Expansion With UMS Deal
Critical communications software company Everbridge has made a $33.6 million cash bid to acquire Norwegian competitor Unified Messaging Systems (UMS) in a deal that would grow its overseas presence. Burlington, MA-based Everbridge (NASDAQ: [[ticker:EVBG]]) said its purchase offer represents a nearly 45 percent premium to UMS’s closing share price on Tuesday. UMS is based in … Continue reading “Everbridge Eyes International Expansion With UMS Deal”
Fitbit Snaps Up Twine Health to Connect Dots for Patients, Doctors
Wearable device maker Fitbit is extending its reach into hospitals and doctors’ offices with the planned acquisition of Twine Health, an MIT spinout that sells healthcare coaching and collaboration software. The purchase price wasn’t disclosed in a press release announcing the deal Tuesday. The transaction is expected to close during the first quarter of this … Continue reading “Fitbit Snaps Up Twine Health to Connect Dots for Patients, Doctors”
E-ZPass Links With PayByCar to Advance In-Vehicle Payments
In the future, you might pay for gas or a parking spot by touching a button on your vehicle’s dashboard. Car companies are already starting to introduce these kinds of in-vehicle payments systems. But it’ll likely take years before they come standard in most new automobiles, and even longer for cars equipped with such systems … Continue reading “E-ZPass Links With PayByCar to Advance In-Vehicle Payments”
XebiaLabs Nabs $100M+ From Accel & Others for Software Tools
Boston-area companies are cashing in on the demand for tools that can help large companies more efficiently develop and deploy software. The latest beneficiary is Burlington, MA-based XebiaLabs, which today announced it pulled in an investment of more than $100 million from a group of backers that includes Susquehanna Growth Equity and Accel. To date, … Continue reading “XebiaLabs Nabs $100M+ From Accel & Others for Software Tools”
Harvard Taps Former Tufts, MIT Leader Bacow as Next President
Harvard University didn’t have to go far to find its next leader. On Sunday, the school named Lawrence Bacow its 29th president. Bacow is currently working as a “leader-in-residence” at the Harvard Kennedy School of Government’s Center for Public Leadership. He was on the Cambridge, MA-based university’s presidential search committee before stepping down in order … Continue reading “Harvard Taps Former Tufts, MIT Leader Bacow as Next President”
Boston Tech Watch: Eric Schmidt’s MIT Role, CIC’s New Digs & More
[Updated 2/9/18, 3:32 pm. See below.] Here are some of the latest headlines from the Boston-area tech scene: —Humatics, a Cambridge, MA-based developer of “microlocation” and analytics software for robots, grabbed $7.2 million from investors, according to an SEC filing. The new capital arrives a few months after Humatics announced an $18 million Series A … Continue reading “Boston Tech Watch: Eric Schmidt’s MIT Role, CIC’s New Digs & More”
LogMeIn to Buy Jive For $342M+, Boost Business Communications Tools
LogMeIn is getting more aggressive in the business communications market, inking a deal to acquire Jive Communications for at least $342 million in cash. Boston-based LogMeIn (NASDAQ: [[ticker:LOGM]]) said it could pay an additional $15 million in cash if Jive meets certain milestones during the two years following the deal’s closing, expected to happen in … Continue reading “LogMeIn to Buy Jive For $342M+, Boost Business Communications Tools”
Battery Startup Ionic Materials Gets $65M Jolt From Nissan & Others
[Updated 2/16/18, 5:27 pm. See below.] Big automakers are betting that solid-state battery technology from Massachusetts-based startup Ionic Materials could eventually challenge the standard lithium-ion batteries used in today’s electric vehicles. Woburn, MA-based Ionic announced Wednesday it secured $65 million in a Series C funding round. The investors include Alliance Ventures—a venture capital fund backed … Continue reading “Battery Startup Ionic Materials Gets $65M Jolt From Nissan & Others”
Akamai Lays Off 400, Scales Back R&D Projects Amid Investor Pressure
Akamai Technologies has laid off about 400 people, or 5 percent of its global staff, as it pares research and development initiatives—primarily in its video content delivery division—that haven’t translated into commercial success. The cuts were disclosed Tuesday in a press release and conference call with investor analysts about Cambridge, MA-based Akamai’s (NASDAQ: [[ticker:AKAM]]) 2017 … Continue reading “Akamai Lays Off 400, Scales Back R&D Projects Amid Investor Pressure”
CloudBees Buys Codeship to Boost Software Delivery Tools
[Updated 2/7/18, 4:04 pm. See below.] CloudBees is snapping up Codeship in a union of two software development toolmakers founded in the early 2010s. Terms of the acquisition weren’t disclosed in a press release. San Jose, CA-based CloudBees, which used to be headquartered in the Boston area, is bringing on Codeship’s team of around 30 … Continue reading “CloudBees Buys Codeship to Boost Software Delivery Tools”
Battery Ventures Recharges With $1.25B in Two New Funds
Battery Ventures, a 35-year-old global investment firm, has reeled in $1.25 billion to continue backing high-tech companies. Boston-based Battery announced two new funds on Tuesday: an $800 million fund, Battery Ventures XII; and a $450 million companion, Battery Ventures XII Side Fund, from which the firm will make larger growth and private-equity investments. Battery’s deals … Continue reading “Battery Ventures Recharges With $1.25B in Two New Funds”
Boston Tech Watch: Immelt, VirZoom, Salsify, ClickSoftware & More
It’s time to catch up on some of the latest Boston-area tech headlines: —There were two notable venture capital hires this week with Boston ties. General Catalyst Partners named departing American Express CEO Ken Chenault as chairman and a managing director. Chenault will be based in the venture capital firm’s New York office, the New … Continue reading “Boston Tech Watch: Immelt, VirZoom, Salsify, ClickSoftware & More”
Ex-GE CEO Immelt Joins NEA as Execs Move Into Venture Investing
[Updated 2/1/18, 2:54 pm. See below.] Former General Electric chairman and CEO Jeff Immelt has joined New Enterprise Associates, the latest high-profile business executive to cross over to venture capital. Immelt has signed on as a venture partner at NEA, according to a press release. NEA has offices in the Bay Area; Washington, DC, area; … Continue reading “Ex-GE CEO Immelt Joins NEA as Execs Move Into Venture Investing”
Techstars, Air Force Reveal First Boston Accelerator Investments
[Updated 2/1/18, 9:52 am. See below.] Techstars today announced the companies participating in the inaugural session of its new autonomous technology startup accelerator program in Boston, and, as advertised, there are a lot of drones involved. Six of the 10 participating companies are focused on unmanned aerial vehicles, including businesses focused on designing and making … Continue reading “Techstars, Air Force Reveal First Boston Accelerator Investments”
MIT Raising Big Bucks From Corporations to Fund A.I. “Moonshots”
MIT plans to raise “hundreds of millions of dollars” from companies and philanthropic donors for a long-term, wide-ranging research initiative bringing together faculty, students, staff, and industry to attempt to better understand human intelligence—and use that knowledge to deliver breakthroughs in artificial intelligence that might have a broad impact on society. The initiative—called MIT Intelligence … Continue reading “MIT Raising Big Bucks From Corporations to Fund A.I. “Moonshots””
Google Pulls Plug on Webpass in Boston Amid Growing Competition
In another setback for Google’s Internet business, the tech giant has decided to wind down the Boston-area operations of Webpass, a wireless Internet service provider Google Fiber acquired in June 2016. A statement e-mailed by a Google spokeswoman didn’t give a reason for the decision. “We’ll work with customers and partners to minimize disruption, and … Continue reading “Google Pulls Plug on Webpass in Boston Amid Growing Competition”
Evergage Scoops Up MyBuys to Make Shopping More Personal
Evergage has acquired MyBuys in a deal that underscores the increasing importance of personalization in marketing products to consumers. Somerville, MA-based Evergage declined to share the price it paid to purchase the MyBuys merchandising products business from New York-based Magnetic, an advertising technology firm that merged with MyBuys in 2015. An undisclosed number of MyBuys … Continue reading “Evergage Scoops Up MyBuys to Make Shopping More Personal”
Hospitals Back New LRVHealth Fund to Forge Alliances With Startups
The healthcare industry has a reputation for being slow and resistant to adopting new technologies. But more hospitals are starting to collaborate with—and even invest in—high-tech startups. The latest example is a new Boston-based venture capital fund announced Monday. LRVHealth, formerly known as Long River Ventures, said it’s planning to raise $100 million for its … Continue reading “Hospitals Back New LRVHealth Fund to Forge Alliances With Startups”
Cybereason Hiring, Nuance CEO Retiring & More New England Tech News
[Corrected 1/26/18, 2:18 pm. See below.] Here are some of the latest technology industry headlines from the Boston area and across New England: —Cybereason plans to hire 300 people over the next two to three years, bringing the Boston-based cybersecurity company’s total number of employees to about 700, according to a spokesman. Cybereason—which also has offices … Continue reading “Cybereason Hiring, Nuance CEO Retiring & More New England Tech News”
Columbia Spinout Allure Security Bags $5.3M to Guard Business Data
Allure Security Technology, a Boston-area cybersecurity startup with roots at Columbia University, announced Thursday it has raised $5.3 million in seed funding to grow its staff and enhance its software that is aimed at helping businesses protect against data loss. The investment was led by Boston-based Glasswing Ventures, an early-stage venture firm that backs companies … Continue reading “Columbia Spinout Allure Security Bags $5.3M to Guard Business Data”
Botkeeper Tallies $4.5M Investment to Automate Accounting Tasks
Bookkeeping is time-consuming, repetitive, and boring—unless you’re into that kind of thing. Sounds like a job for a machine. Software isn’t sophisticated enough to handle all of the work involved in recording transactions and managing businesses’ finances, but money is being poured into artificial intelligence technologies aimed at shifting more of the workload from humans … Continue reading “Botkeeper Tallies $4.5M Investment to Automate Accounting Tasks”
Facebook, Amazon Snap Up Boston Cybersecurity Startups Confirm, Sqrrl
Facebook and Amazon are turning to Boston tech companies to beef up their cybersecurity capabilities. Facebook (NASDAQ: [[ticker:FB]]) has acquired Confirm.io, while Amazon (NASDAQ: [[ticker:AMZN]]) has purchased Sqrrl, according to posts on the two Boston-area security startups’ respective websites. Terms weren’t disclosed for either deal. An unspecified number of Confirm employees are joining Facebook’s local … Continue reading “Facebook, Amazon Snap Up Boston Cybersecurity Startups Confirm, Sqrrl”
Paytronix Rings Up $65M to Boost Customer Loyalty Software Business
Paytronix Systems, a seventeen-year-old software company that manages customer rewards programs and other sales initiatives for restaurants and convenience store chains, said Monday it pulled in $65 million in funding from Great Hill Partners, a Boston-based private equity firm. Newton, MA-based Paytronix previously raised a little over $2 million from investors, according to SEC filings. … Continue reading “Paytronix Rings Up $65M to Boost Customer Loyalty Software Business”
Boston Tech Watch: ICO Crackdown, “Shark Tank” Startups & More
[Updated 1/19/18, 2:47 pm. See below.] This week in Boston tech, we’re tracking legal action against a so-called “initial coin offering,” hiring sprees, a pair of acquisitions, several venture funding rounds, and more. Read on for details. —Massachusetts securities regulators are wading into the murky waters of cryptocurrencies and “initial coin offerings.” The office of … Continue reading “Boston Tech Watch: ICO Crackdown, “Shark Tank” Startups & More”
Accomplice Reloads With $205M Fund After Makeover
Accomplice, one of the Boston area’s prominent early-stage venture firms, has restocked its dry powder to invest in tech startups. Accomplice raised $205 million for its second fund, according to a spokesperson. The firm announced the new fund in a blog post Thursday. Partner Jeff Fagnan (pictured) declined to comment further. The fund marks a … Continue reading “Accomplice Reloads With $205M Fund After Makeover”
Advancing A.I. for Business: Google Unveils Tools, Indico Nabs $4M
Tech companies continue to develop software tools and services aimed at unlocking the potential benefits of artificial intelligence for all businesses, regardless of whether or not they have skilled data scientists on staff. Two of the latest examples come from a startup, Boston-based Indico, and a tech giant, Google. Today, Indico announced it pulled in … Continue reading “Advancing A.I. for Business: Google Unveils Tools, Indico Nabs $4M”
From DARPA to Vecna: New CEO on How Automation Can “Elevate” Humans
[Updated 1/18/18, 9:33 am. See below.] Dan Patt spent the past six years surveying the robotics field, holding a couple of positions with the U.S. Defense Advanced Research Projects Agency (DARPA) that enabled him to work on self-driving cars, drones, and other automation technologies. Now, he’s jumping into the private sector and going all in … Continue reading “From DARPA to Vecna: New CEO on How Automation Can “Elevate” Humans”
Philips CEO Wants to Be Near “Hotspots of Talent” to Take On GE, IBM
Boston’s healthcare technology cluster is getting more crowded. Dutch healthtech giant Philips intends to plant an even bigger flag here, ramping up its local efforts to develop products like machine-learning software for healthcare, as other big firms like IBM and General Electric do the same. Philips (NYSE: [[ticker:PHG]]) announced Thursday it plans to relocate its … Continue reading “Philips CEO Wants to Be Near “Hotspots of Talent” to Take On GE, IBM”
Mark Cuban, Jaguar, Zuckerberg Firm & Others Back Boston Startups
[Updated 1/12/18, 10:29 am. See below.] The new year has ushered in a flurry of venture funding deals in the Boston area, including investments from Jaguar Land Rover, Dallas Mavericks owner Mark Cuban, and a company founded by Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan. Read on for details. —Boston-based edtech startup Ellevation, … Continue reading “Mark Cuban, Jaguar, Zuckerberg Firm & Others Back Boston Startups”
Boston Tech Watch: TripAdvisor, DraftKings, Jibo & More
[Updated 1/12/18, 3:26 pm. See below.] It’s the end of the week. Time to catch up on some of the latest happenings in the Boston-area tech sector: —DraftKings plans to hire almost 300 employees over the next year-and-a-half and will move into a new headquarters near downtown Boston that is more than double the size … Continue reading “Boston Tech Watch: TripAdvisor, DraftKings, Jibo & More”
Boston’s Tech Agenda for 2018: 3 Questions, 3 Sectors to Watch
[Updated 1/11/18, 9:23 am. See below.] Ready or not, 2018 is upon us. The tech industry grappled with serious and difficult issues last year, from a series of sexual harassment and assault allegations; to fears about the effects of social media and other online platforms on our politics, public discourse, and minds; to more (and … Continue reading “Boston’s Tech Agenda for 2018: 3 Questions, 3 Sectors to Watch”
As VC Moves Downstream, Spearhead Seeds New Angel Investors
The U.S. venture capital industry just capped off one of its biggest years ever. But look closer, and the current funding environment could spell trouble for the next wave of high-tech startups. The $84.2 billion invested in 2017 is a level of VC funding unseen since the dot-com era of the early 2000s, according to … Continue reading “As VC Moves Downstream, Spearhead Seeds New Angel Investors”
Boston 2017 VC Total Highest in Over a Decade; Here Are Top 5 Deals
Venture capital investments soared in the Boston area last year, as vast sums of money continue to flow to a relatively small pool of companies. Venture investors poured $8.7 billion into Boston-area companies in 2017, a nearly 40 percent jump from the $6.3 billion in venture capital invested locally during the previous year, according to … Continue reading “Boston 2017 VC Total Highest in Over a Decade; Here Are Top 5 Deals”
Skyword Bags $25M From Rho to Grow Content Marketing Business
Marketers are being forced to get more creative in their fight for consumers’ attention online, as people ignore advertisements or avoid many of them altogether with pop-up ad blockers. That has spurred an increased emphasis on marketing articles, videos, and other content aimed at attracting eyeballs. Skyword is one of the companies trying to aid … Continue reading “Skyword Bags $25M From Rho to Grow Content Marketing Business”
Wireless Expert Lowenstein on Net Neutrality, Industry Consolidation
One of the biggest tech stories in 2017 happened at the end of the year, when the Federal Communications Commission voted to repeal so-called “net neutrality” rules. There are many heated opinions on the issue, although no one really knows how things will play out. To try to figure it out, Xconomy contacted wireless expert … Continue reading “Wireless Expert Lowenstein on Net Neutrality, Industry Consolidation”
A VC’s Wish for 2018: More Efficient Entrepreneurs
Tech companies continued to rake in massive amounts of venture capital last year, while the exit market was underwhelming. Xconomy reached out to Boston-area investor Eric Paley to put 2017 in perspective and find out what might be in store for the coming year. Paley’s early-stage venture firm, Founder Collective, has backed companies such as … Continue reading “A VC’s Wish for 2018: More Efficient Entrepreneurs”