Investors are enamored with Lovepop, the technology-enabled, pop-up greeting card startup. The Boston-based company announced Wednesday it received a $12.5 million investment led by Highland Capital Partners. Greeting cards aren’t a traditional venture capital-backed business, but Lovepop’s backers say there’s an opportunity to shake up a large market that hasn’t seen much innovation over the … Continue reading “Lovepop Unseals $12.5M to Grow 3D Pop-up Greeting Card Business”
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: Starry, Boston Millennia Partners, Voatz & More
[Updated 1/3/18, 9:17 am. See below.] Welcome to 2018, Boston tech watchers. Here are some of the deal headlines you might have missed over the holidays: —Boston Millennia Partners pulled in $150 million for a new venture fund, according to an SEC filing. The growth equity investor has backed the likes of Parexel, WebCT, Avhana … Continue reading “Boston Tech Watch: Starry, Boston Millennia Partners, Voatz & More”
Tamr’s Andy Palmer on Diversity in Tech & A.I.’s Data Challenge
As 2017 comes to a close, we’re surveying business and technology leaders from around our network to get their perspectives on the year in tech—and what’s next. Below are the highlights from our e-mail exchange with entrepreneur and investor Andy Palmer, the co-founder and CEO of Cambridge, MA-based Tamr, a “data unification” software company. (Palmer … Continue reading “Tamr’s Andy Palmer on Diversity in Tech & A.I.’s Data Challenge”
Flipside Crypto’s Balter Talks Uber, #MeToo, Cryptocurrencies
The past year was a turbulent one for the tech industry. There was a new controversy seemingly every week, whether it was Uber’s myriad scandals; more personal data breaches; Russia’s use of social media and other online platforms to try and influence U.S. voters; growing concerns over tech giants’ power; and a series of sexual … Continue reading “Flipside Crypto’s Balter Talks Uber, #MeToo, Cryptocurrencies”
Boston Tech Watch: iRobot, Jibo, Ogin, WiTricity, Spyce, Cayan
With the holidays upon us, it’s time to take a quick look at some of the year’s final headlines from the Boston-area tech scene: —Cayan, a Boston-based payments technology company, agreed to be acquired by Columbus, GA-based TSYS (NYSE: [[ticker:TSS]]) in a $1.05 billion all-cash deal. Cayan is currently owned by Parthenon Capital Partners. —Jibo, … Continue reading “Boston Tech Watch: iRobot, Jibo, Ogin, WiTricity, Spyce, Cayan”
Fintech in 2018: Blockchain Apps, A.I. Interfaces, Crypto Rules
For the financial technology sector, the year’s headlines were dominated by breathless blockchain hype, cryptocurrency bubble talk, and a never-ending barrage of initial coin offerings. To help put things in perspective—and get a read on what might come next in fintech—Xconomy caught up with David Jegen (pictured), a Boston-based partner with F-Prime Capital, who invests … Continue reading “Fintech in 2018: Blockchain Apps, A.I. Interfaces, Crypto Rules”
Andreessen Horowitz Backs Asimov’s Synthetic Biology CAD Software
Synthetic biology continues to capture the attention of technology investors. Last week, it was Boston-based Ginkgo Bioworks announcing a $275 million Series D funding round backed by the likes of Y Combinator and Bill Gates’s private investment vehicle, Cascade Investment. This week, it’s Asimov, another Boston-area synthetic bio startup, raising money. The amount—$4.7 million in … Continue reading “Andreessen Horowitz Backs Asimov’s Synthetic Biology CAD Software”
Startup Lessons: Lexumo CEO on Why the Cybersecurity Firm Shut Down
Building a successful startup is hard. Pulling the plug when you think the company won’t make it can be hard, too. Xconomy recently reported that Lexumo, a Boston-area cybersecurity startup that spun out of Draper Laboratory, called it quits in September. The two-year-old company had raised at least $4.9 million in venture funding from Accomplice, … Continue reading “Startup Lessons: Lexumo CEO on Why the Cybersecurity Firm Shut Down”
Casa Systems Raises $78M in Boston Area’s Second Tech IPO of 2017
The Boston area’s second tech IPO of 2017 is in the books. Casa Systems raised $78 million in its initial public offering by selling 6 million shares of common stock for $13 per share. The Andover, MA-based network infrastructure company has granted its IPO underwriters a 30-day option to buy up to 900,000 additional shares … Continue reading “Casa Systems Raises $78M in Boston Area’s Second Tech IPO of 2017”
Boston Tech Watch: Iron Mountain, Hitachi, Circle, Locus & More
Here are some of the latest headlines from the Boston-area tech scene: —Locus Robotics, which announced a $25 million Series B funding round in November, appears to have raised an additional $9.2 million, according to an SEC filing. The Wilmington, MA-based startup makes robots and software for order fulfillment warehouses. —SolidEnergy Systems, a Woburn, MA-based … Continue reading “Boston Tech Watch: Iron Mountain, Hitachi, Circle, Locus & More”
Ginkgo Bioworks Pulls In $275M as Synthetic Biology Funding Soars
Companies sometimes raise big venture capital rounds to invest in equipment, people, and other tools for growth. Other times they do it to provide the business a cash cushion. And sometimes it’s about giving potential customers and partners more confidence in the fledgling company. For Ginkgo Bioworks, its latest venture funding round is about all … Continue reading “Ginkgo Bioworks Pulls In $275M as Synthetic Biology Funding Soars”
3 Lessons From NuTonomy & Lyft’s Self-Driving Car Rides in Boston
One of the biggest potential pitfalls for developers of autonomous vehicles is psychological: Will most people trust the cars enough to ride in them? It might not be easy to win people over, but it’s possible—if a Boston startup’s recent tests are any indication. On Tuesday, NuTonomy co-founder and president Karl Iagnemma shared early reactions … Continue reading “3 Lessons From NuTonomy & Lyft’s Self-Driving Car Rides in Boston”
Aptiv Plans Driverless Car Tech Hub in Boston After Buying NuTonomy
[Updated 12/12/17, 5:51 pm. See below.] Global automotive technology supplier Aptiv is planting a bigger flag in Boston. On Tuesday, the England-based company announced plans to open a new technology office in Boston’s Seaport neighborhood. The space will also be the new headquarters of NuTonomy, the Boston-based autonomous vehicle software startup that Aptiv acquired this … Continue reading “Aptiv Plans Driverless Car Tech Hub in Boston After Buying NuTonomy”
Boston Tech Watch: Apple, Lyft, BU, Astral Capital, Cengage & More
It’s time to catch up on the latest Boston-area tech headlines: —People can now ride around Boston’s Seaport neighborhood in a self-driving vehicle, thanks to a pilot program launched this week by ride-hailing company Lyft and NuTonomy, the autonomous vehicle software startup now owned by Aptiv. (Aptiv is the name of the autonomous vehicle business … Continue reading “Boston Tech Watch: Apple, Lyft, BU, Astral Capital, Cengage & More”
Lexumo, an Internet of Things Security Startup, Calls It Quits
[Updated 12/8/17, 4:27 pm. See below.] Boston-area cybersecurity startup Lexumo has shut down, a source close to the company confirmed to Xconomy. After publication, CEO Dan McCall confirmed the news in an e-mail to Xconomy that said Lexumo ceased operations in September. [This paragraph added.—Eds.] Lexumo spun out of Draper Laboratory—the not-for-profit R&D center next … Continue reading “Lexumo, an Internet of Things Security Startup, Calls It Quits”
NVBots Sold to Ohio Manufacturer as 3D Printing Interest Grows
[Updated 12/8/17, 3:00 pm, with co-founder’s comments.] Boston-area 3D printing startups have raised significant amounts of venture capital in the past couple of years. Now, they are starting to see some exits. New Valence Robotics, a three-year-old MIT spinout that goes by NVBots, announced Thursday it was acquired by Harrison, OH-based Cincinnati Inc., a manufacturer … Continue reading “NVBots Sold to Ohio Manufacturer as 3D Printing Interest Grows”
Optum Unveils $250M Venture Fund as Healthcare A.I. Narrows Focus
Investors have pumped a record amount of money into digital health companies this year, according to recent data from StartUp Health. But even with rising interest in the sector, new venture funds continue to join the fray. Take Boston, where several first-time funds focused, at least in part, on healthcare technology have been announced in … Continue reading “Optum Unveils $250M Venture Fund as Healthcare A.I. Narrows Focus”
Former GE CEO Immelt Talks Uber, A.I., and a Rejected Bid for Epic
Artificial intelligence holds promise for healthcare in areas like radiology, but it could be tough sledding for businesses selling narrowly focused products to one customer at a time. The winners in this emerging sector will figure out how to integrate A.I. tools into a broader platform that offers clear value for doctors, hospitals, insurers, and … Continue reading “Former GE CEO Immelt Talks Uber, A.I., and a Rejected Bid for Epic”
Security Firm ReversingLabs Nabs $25M from JPMorgan Chase, Trident
Online threats are mounting, and so are the investments in Boston-area cybersecurity companies. ReversingLabs is one of the latest to raise money—a $25 million Series A round announced Wednesday, led by Trident Capital Cybersecurity and JPMorgan Chase. Cambridge, MA-based ReversingLabs’ software aims to help businesses and government entities detect advanced security threats and respond to … Continue reading “Security Firm ReversingLabs Nabs $25M from JPMorgan Chase, Trident”
Pwnie Express Wrangles $8M, Names Board Member DeSisto CEO
[Updated 11/29/17, 4:56 pm. See below.] Pwnie Express, a Boston cybersecurity company that helps businesses detect rogue devices on their networks, has pulled in more venture capital and appointed a new CEO. Pwnie (pronounced “pony”) announced Wednesday it received an $8 million investment and named board member Todd DeSisto as its chief executive. DeSisto takes … Continue reading “Pwnie Express Wrangles $8M, Names Board Member DeSisto CEO”
Boston Tech Watch: Casa IPO Plan, Rapid7 HQ, Optimus Deal & More
[Updated 11/29/17, 1:33 pm. See below.] Now that everyone has sufficiently recovered from their turkey comas, it’s time to catch up on some recent headlines from the Boston-area tech scene: —Casa Systems could be the area’s second tech IPO of 2017, if it follows through on plans disclosed in a recent SEC filing. The Andover, … Continue reading “Boston Tech Watch: Casa IPO Plan, Rapid7 HQ, Optimus Deal & More”
BetterLesson Collects $10M to Push Teacher Development Software
As more K-12 schools adopt technologies meant to help deliver an education customized to each student, the methods for coaching teachers are becoming more digital and personalized, too. The latest sign comes from BetterLesson, a Cambridge, MA-based edtech company that today announced it raised a $10 million Series B funding round to expand the use … Continue reading “BetterLesson Collects $10M to Push Teacher Development Software”
ClimaCell Bags $15M to Predict Weather from Wireless Network Signals
Local meteorologists might avoid being the butt of so many jokes, if the latest crop of weather technology startups have their way. A number of young companies are trying to improve the methods for tracking and predicting the weather. Some are tackling the problem from space, like Spire Global, whose network of small satellites gather … Continue reading “ClimaCell Bags $15M to Predict Weather from Wireless Network Signals”
Cengage Defends Value of Digital Course Materials Amid Print Decline
Textbook publishers are making progress on shifting their businesses from print to mostly digital products. Now comes the hard part: figuring out how to reverse revenue declines when your business is built on digital course offerings that are generally much cheaper than books. Take Cengage, one of the largest education publishers. Digital products now comprise … Continue reading “Cengage Defends Value of Digital Course Materials Amid Print Decline”
Balter Steps Down as Mylestone CEO, Shifts to Chairman
[Updated 11/16/17, 10:47 am. See below.] Dave Balter, a serial entrepreneur and startup investor in the Boston area, has stepped down as CEO of one of his latest ventures, Mylestone. Balter has shifted to the role of chairman, and Mylestone head of product Drew Condon is now the chief executive, Balter announced in a blog … Continue reading “Balter Steps Down as Mylestone CEO, Shifts to Chairman”
Vanu Bose Tribute, Plus Latest Boston Tech Headlines
We start this week’s Boston tech watch on a somber note: Vanu Bose, a local technology executive and MIT alumnus, passed away Saturday from a sudden pulmonary embolism, according to an announcement from MIT. He was 52. Bose was the founder and CEO of 19-year-old wireless networking company Vanu, which recently donated some of its … Continue reading “Vanu Bose Tribute, Plus Latest Boston Tech Headlines”
CarGurus Stock Up After First Report to Wall Street: 3 Takeaways
CarGurus’ stock price is up around 10 percent Wednesday after the company delivered positive financial results in its first quarterly report since going public. The Cambridge, MA-based software company’s stock (NASDAQ: [[ticker:CARG]]) was trading just under $33 per share as of this writing Wednesday morning, up from Tuesday’s closing price of $29.82. CarGurus released its … Continue reading “CarGurus Stock Up After First Report to Wall Street: 3 Takeaways”
ClearMotion Buys Bose’s Car Suspension Tech to Deliver Smooth Rides
A Bose side project in the automotive industry will get new life in the hands of a new owner. ClearMotion, a heavily funded MIT spinout working to commercialize technology aimed at making bumpy car rides go more smoothly, announced Wednesday it has acquired related technologies developed by Bose. The purchase price wasn’t disclosed. Framingham, MA-based … Continue reading “ClearMotion Buys Bose’s Car Suspension Tech to Deliver Smooth Rides”
Logz.io Collects $23M Round Led by OpenView, Will Double Boston Staff
The flood of data flowing from machines keeps rising, and that means more demand for companies like Logz.io that aim to help IT departments effectively monitor all that information. Now, investors are pouring more money into the software firm to help accelerate its growth. On Wednesday, Logz.io announced it raised $23 million in a Series … Continue reading “Logz.io Collects $23M Round Led by OpenView, Will Double Boston Staff”
Autodesk Leads $12M Round for Assemble Systems in Latest Boston Deal
Autodesk, the 3D design and engineering software giant, is continuing its investing spree in Boston-area technology startups. The latest beneficiary is Assemble Systems, which on Tuesday announced it received a $12 million Series A funding round led by Autodesk’s Forge Fund. Earlier backers Satterfield Vintage Investments and Assemble Investments also chipped in, according to a … Continue reading “Autodesk Leads $12M Round for Assemble Systems in Latest Boston Deal”
GE Stock Sinks Further After Revealing Job & Dividend Cuts
[Corrected 11/13/17, 5:57 pm. See below.] General Electric is making cuts as its new CEO tries to simplify the industrial behemoth and turn around its languishing stock price. On Monday, CEO John Flannery (pictured right) outlined a plan to focus on its healthcare, aviation, and power businesses, while shedding at least $20 billion worth of assets, … Continue reading “GE Stock Sinks Further After Revealing Job & Dividend Cuts”
Acquia Taps Former Autonomy and HP Exec Sullivan to Be Next CEO
[Updated 11/13/17, 3:37 pm, with comments from executives.] There’s about to be a new leader at Acquia, one of the Boston area’s more closely watched enterprise tech companies. On Monday, the Web content management software company named Michael Sullivan as its CEO, effective next month. The 52-year-old, pictured at right, has spent more than 25 … Continue reading “Acquia Taps Former Autonomy and HP Exec Sullivan to Be Next CEO”
First Star Ventures Pushes Deeper Into Genomic Data & Blockchain
First Star Ventures might be Boston’s most interesting early-stage startup investor you’ve never heard of. The venture firm has flown somewhat under the radar since it launched three years ago as Procyon Ventures. But it’s starting to make more noise. First Star announced its new moniker last month. “We got tired of people mispronouncing Procyon,” … Continue reading “First Star Ventures Pushes Deeper Into Genomic Data & Blockchain”
Boston Tech Watch: TripAdvisor, MassChallenge, Twine Health & More
This week in Boston tech, we’re tracking trouble at TripAdvisor, the closure of a co-working space in Harvard Square, the winners of the latest MassChallenge Boston accelerator program, a pair of acquisitions, and venture investments that span cleantech, edtech, cannabis tech, and more. Read on for details. —It’s been a challenging past few days for … Continue reading “Boston Tech Watch: TripAdvisor, MassChallenge, Twine Health & More”
Panorama Education Gets $16M for “Social-Emotional Learning” Tools
Panorama Education announced Tuesday that it raised $16 million from several high-profile tech investors to accelerate the adoption of its software tools aimed at boosting K-12 students’ social and emotional skills and college readiness. The Series B funding round was led by Emerson Collective, whose founder and president is Laurene Powell Jobs, the billionaire entrepreneur … Continue reading “Panorama Education Gets $16M for “Social-Emotional Learning” Tools”
ThirdChannel Collects $7M to Boost Analytics for Physical Stores
Despite talk that e-commerce is killing brick-and-mortar retail, the vast majority of shopping still takes place in physical stores. But it’s often easier to monitor inventory, analyze consumer spending habits, and make on-the-fly adjustments for digital storefronts than it is for their real-world counterparts. A Boston-area startup called ThirdChannel wants to help change that, aiming … Continue reading “ThirdChannel Collects $7M to Boost Analytics for Physical Stores”
Rightpoint Buys Mobile Firm Raizlabs to Form “Agency of the Future”
Raizlabs, one of the Boston area’s best-known mobile app development shops, has been acquired by Rightpoint, a Chicago-based consulting firm. The purchase price wasn’t disclosed. With the addition of Raizlabs, the combined companies employ 400 people across nine U.S. offices. The two firms’ Boston offices will consolidate, while Raizlabs’ Oakland, CA, office adds a new … Continue reading “Rightpoint Buys Mobile Firm Raizlabs to Form “Agency of the Future””
Black Duck Aims to “Build a Powerful Company” Under Wing of Synopsys
Synopsys thinks it has found a beautiful swan in Black Duck Software. While the 14-year-old Boston-area company was by no means an “ugly duckling” before, it has transformed several times on the way to its half-billion-dollar sale to Synopsys—and it will likely continue to grow and change under its new parent company. Mountain View, CA-based … Continue reading “Black Duck Aims to “Build a Powerful Company” Under Wing of Synopsys”
Black Duck Software to Be Acquired by Synopsys for $565M
Over the summer, Black Duck Software CEO Lou Shipley told Xconomy that a potential acquirer would have to propose a “really good deal” for his company to agree to a sale. Apparently, Black Duck got that offer. The Burlington, MA-based cybersecurity company announced Thursday it has agreed to be acquired by Mountain View, CA-based Synopsys … Continue reading “Black Duck Software to Be Acquired by Synopsys for $565M”
PathAI Grabs $11M to Build A.I. Tools for Pathology
Investors continue to pour millions of dollars into startups attempting to apply artificial intelligence technologies to various problems in healthcare. The latest beneficiary is PathAI, a Cambridge, MA-based company developing A.I. software aimed at helping pathologists be more efficient and accurate in diagnosing disease. PathAI co-founder and CEO Andy Beck tells Xconomy that his company … Continue reading “PathAI Grabs $11M to Build A.I. Tools for Pathology”
Optimus Ride Drives Off With $18M for Autonomous Vehicle Tech
[Updated 11/2/17, 10:01 am, with CEO comments.] Boston’s self-driving vehicle startups are on a roll. This morning, Optimus Ride said that investors have pumped $18 million into the company in a new funding round. The news follows the announcement last month that global auto parts supplier Delphi (NYSE: [[ticker:DLPH]]) agreed to purchase NuTonomy for up … Continue reading “Optimus Ride Drives Off With $18M for Autonomous Vehicle Tech”
UpCurve Buys Closely to Boost ThriveHive’s Marketing Tech Offerings
The trend of consolidation in the marketing technology sector continues: Quincy, MA-based UpCurve announced this morning it has acquired Closely, the Denver-based startup behind the social marketing mobile app, Perch. Terms weren’t disclosed. Eight-year-old Closely, led by MapQuest co-founder Perry Evans, previously raised at least $3.6 million from investors, according to SEC filings. UpCurve, formerly … Continue reading “UpCurve Buys Closely to Boost ThriveHive’s Marketing Tech Offerings”
As Facebook Fights Fake News, LeCun Sees Bigger Role for A.I.
As top lawyers from Facebook, Google, and Twitter testify on Capitol Hill this week about Russians using their platforms to interfere in the 2016 U.S. presidential election, it’s becoming clearer that the fight against the spread of fake news won’t be won by humans alone. That’s according to Yann LeCun, a machine learning expert and … Continue reading “As Facebook Fights Fake News, LeCun Sees Bigger Role for A.I.”
Markforged Turns Profit, Grabs $30M From Siemens, Microsoft, Porsche
Now that the hype over 3D printing has died down, some of the industry’s surviving startups have figured out how to build healthy businesses. Four-year-old Markforged says it’s one of them. The Watertown, MA-based company—known for 3D printers that produce plastic parts strengthened by carbon fiber and other materials—says its revenues have increased significantly this … Continue reading “Markforged Turns Profit, Grabs $30M From Siemens, Microsoft, Porsche”
Boston Tech Watch: Datto, Ultimaker, Brand Networks, Imprivata & More
[Corrected 11/8/17, 2:11 pm. See below.] This week in Boston tech, we’re tracking the latest private equity investments in tech startups; venture capital deals in cybersecurity, healthcare IT, and advanced materials production; and a pair of executive hires. Read on for details. —Datto, a Norwalk, CT-based provider of data protection and networking products, signed an … Continue reading “Boston Tech Watch: Datto, Ultimaker, Brand Networks, Imprivata & More”
Boston Blockchain Firms Shrug Off ICO Critics, Hunt for Talent
Blockchain technologies and digital currencies are arguably the most hyped and least understood areas of tech right now. Unbridled optimism about these emerging sectors—as well as interesting questions about how they’ll play out—were on display Thursday night at an event in Boston’s financial district featuring three local companies pitching virtual token sales. The main takeaway? … Continue reading “Boston Blockchain Firms Shrug Off ICO Critics, Hunt for Talent”
Watch Out, VCs: A.I. Program Judges Startups at Boston Pitch Event
I rarely attend startup pitch competitions anymore. They’ve grown hackneyed over the past few years, thanks to a proliferation of such events and the popularity of the TV show “Shark Tank.” But a startup contest held Tuesday at a machine learning conference in Cambridge, MA, put a twist on the typical scenario: the startups were … Continue reading “Watch Out, VCs: A.I. Program Judges Startups at Boston Pitch Event”
After Delays, “Social Robot” Jibo Enters Home Assistant Fray
After three years of hype and shipping postponements, Jibo is finally delivering its eponymous “social robot” to customers. The Boston-based company announced Wednesday that its robot is now for sale to the general public, with shipping set to begin in November. The price tag? $899. Jibo (pronounced JEE-bo) launched a crowdfunding campaign for the product … Continue reading “After Delays, “Social Robot” Jibo Enters Home Assistant Fray”
MassMutual Ventures Launches Second $100M Fund
MassMutual is doubling down on its startup investments. MassMutual Ventures (MMV), the venture capital arm of Massachusetts Mutual Life Insurance Company, on Tuesday announced the creation of its second $100 million venture fund. MMV, launched in 2014, has so far backed 20 companies with about $80 million from its $100 million first fund, according to … Continue reading “MassMutual Ventures Launches Second $100M Fund”
Delphi to Buy NuTonomy for $400M+ as Driverless Car Tie-ups Continue
Another big move today in the race to develop self-driving cars: Delphi Automotive has inked a deal to acquire NuTonomy, an autonomous vehicle software startup, for up to $450 million. The U.K.-based automotive supplier (NYSE: [[ticker:DLPH]]) will pay $400 million up front to acquire Boston-based NuTonomy, plus earn-outs of about $50 million, according to a … Continue reading “Delphi to Buy NuTonomy for $400M+ as Driverless Car Tie-ups Continue”