[Updated 10/24/17, 11:07 am. See below.] Before we dive into this week’s Boston tech news roundup, I want to give a shout-out to TUGG (Technology Underwriting Greater Good), a local nonprofit that mobilizes the tech community to give money and time to support charities and social ventures. Last Thursday, TUGG held its seventh annual “Tech … Continue reading “TUGG Gives Back, GE Struggles, Foodler Fades & More Boston Tech News”
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.
DOTS Technology Pulls in $20M for Rapid Food Allergen Detector
DOTS Technology, a stealthy startup developing rapid diagnostics technologies, has raised about $20.4 million from investors, according to a document filed with the SEC. The fresh capital includes Series B preferred stock and common stock that is issuable upon the conversion of the preferred stock, according to the regulatory filing. Natick, MA-based DOTS previously raised … Continue reading “DOTS Technology Pulls in $20M for Rapid Food Allergen Detector”
Devoted Health, Led by Athenahealth Alums Ed & Todd Park, Bags $62M
[Updated 10/23/17, 12:27 pm. See below.] Devoted Health, a new healthcare company created by former Athenahealth leaders, has raised nearly $62 million from investors, according to a document filed with the SEC. Devoted has now raised a total of $69 million from Venrock and other groups and individual investors, spokesman Kenneth Baer said in an … Continue reading “Devoted Health, Led by Athenahealth Alums Ed & Todd Park, Bags $62M”
Athenahealth Cuts Jobs and Offices; Wall Street Cheers Profit Focus
Investors are rewarding Athenahealth’s cost-cutting plan to shore up its bottom line. The Watertown, MA-based healthcare IT company’s stock (NASDAQ: [[ticker:ATHN]]) shot up more than 10 percent during Friday trading. (As of this writing Friday afternoon, it’s trading around $125, up about 8 percent from the previous day’s closing price.) On Thursday, Athenahealth said it … Continue reading “Athenahealth Cuts Jobs and Offices; Wall Street Cheers Profit Focus”
Leerink’s Cozzens on New Health IT Fund, A.I.’s Future as a Platform
Despite uncertainty over the future of the Affordable Care Act, investors continue to see opportunities to build successful businesses in healthcare technology and related services. For several years, the common refrain among healthtech investors has been that the implementation of electronic medical records (EMRs) and the shift from a fee-for-service payments structure to so-called value-based … Continue reading “Leerink’s Cozzens on New Health IT Fund, A.I.’s Future as a Platform”
GE & Apple Unite to Bring Industrial Apps to iPhones & iPads
General Electric’s push to remake itself as a software-focused industrial manufacturer took another step forward today with the announcement of a partnership with Silicon Valley giant Apple. The companies are rolling out a software development kit that enables developers to create apps for Apple’s iPhone and iPad that use GE’s Predix, a cloud-based software platform … Continue reading “GE & Apple Unite to Bring Industrial Apps to iPhones & iPads”
Veo Grabs $12M, Led by GV & Lux, to Help Industrial Robots “See”
True artificial intelligence is likely decades away, if it ever comes. In the meantime, companies are making robots “smarter” in less dramatic ways that nevertheless could prove quite useful. Veo Robotics is one of the players trying to boost the intelligence of industrial robots by enhancing their perception and responsiveness to their surroundings—thereby making it … Continue reading “Veo Grabs $12M, Led by GV & Lux, to Help Industrial Robots “See””
After Shutdown, Bridj Restarts Engine in Australia Under New Owner
[Updated 10/18/17, 2:01 pm. See below.] Bridj, the Boston-based, app-enabled transit service that shut down in the spring, is apparently making a comeback—in Australia. In a Facebook post on Friday, Bridj said its business was acquired by Australian public transportation operator Transit Systems, which plans to implement Bridj’s service in Sydney, Australia, later this year. … Continue reading “After Shutdown, Bridj Restarts Engine in Australia Under New Owner”
AirFox ICO, XFactor’s 1st Investments & Other Boston Funding News
[Updated 10/17/17, 9:54 am. See below.] It’s time to catch up on the latest venture capital investments and other funding news from the Boston tech scene: —XFactor Ventures announced its first eight investments. The $3 million fund—formed by Flybridge Capital Partners and a group of women entrepreneurs in Boston, New York, and the Bay Area—plans … Continue reading “AirFox ICO, XFactor’s 1st Investments & Other Boston Funding News”
Boston Tech Watch: Akamai, DraftKings, Grapevine, M33, Zemcar & More
This week in Boston tech, we’re tracking another new growth equity fund focused on healthcare and software, acquisitions by Akamai Technologies and Grapevine, layoffs at video game maker Disruptor Beam, DraftKings’ expansion, and more. Read on for details. —There’s another new venture capital firm in town: M33 Growth announced it raised $180 million for its … Continue reading “Boston Tech Watch: Akamai, DraftKings, Grapevine, M33, Zemcar & More”
MIT Inclusive Innovation Awards Stress Optimism as Tech Reshapes Work
Digital technologies have helped create immense wealth and societal progress, but not everyone has shared in that prosperity. The MIT Initiative on the Digital Economy created the MIT Inclusive Innovation Challenge to highlight and support businesses and nonprofits that use technology to improve economic opportunities for people with low- and mid-level incomes. The winners of … Continue reading “MIT Inclusive Innovation Awards Stress Optimism as Tech Reshapes Work”
Ikea Backs XL Hybrids in $22M Round as Commercial Fleets Electrify
[Updated 10/12/17, 4:53 pm, with CEO comments.] XL Hybrids, a maker of hybrid electric powertrains for commercial and municipal vehicles, is stepping on the gas pedal after pulling in $22 million in fresh venture capital. Furniture retailer Ikea Group and Constellation Technology Ventures—the venture capital arm of energy company Exelon—were among the investors in XL’s … Continue reading “Ikea Backs XL Hybrids in $22M Round as Commercial Fleets Electrify”
CarGurus Drives Off With $150M in Boston’s First Tech IPO of 2017
[Updated 10/12/17, 4:58 pm. See below.] Amid another sluggish year for tech IPOs, advocates of Boston’s tech scene can breathe a sigh of relief—the area won’t be shut out this year. CarGurus and its stockholders raised about $150.4 million in the company’s initial public offering, marking the Boston area’s first tech IPO of 2017. The Cambridge, … Continue reading “CarGurus Drives Off With $150M in Boston’s First Tech IPO of 2017”
Android Founder on VR, Voice & the Future of Human-Machine Collaboration
Within 20 years, computer keyboards will be relegated to the technology dustbin, says Android co-founder Rich Miner. Miner helped shape the smartphone era with Android, a mobile operating system startup that Google acquired in 2005. Android software now powers over 2 billion devices. On Tuesday, Miner spoke at a mobile software developer conference in Boston … Continue reading “Android Founder on VR, Voice & the Future of Human-Machine Collaboration”
Blockchain, Banks & the New Web: Q&A With Ethereum Co-founder Lubin
Ethereum co-founder Joe Lubin is calm and soft-spoken when he shares his vision of how blockchain technology and digital currencies could transform the Internet, the global economy, and many aspects of our daily lives. But what he’s talking about could become a raging tempest, and it’s worth paying attention to—especially given the vast sums of … Continue reading “Blockchain, Banks & the New Web: Q&A With Ethereum Co-founder Lubin”
Boston Tech Watch: Puerto Rico Aid, Doc Video Games, Applause Sale
[Updated 10/10/17, 12:09 pm. See below.] This week in Boston tech, we’re tracking a bunch of acquisition news, including a hint at Applause’s possible sale price; the arrival of a video game maker for doctors; a local tech company’s efforts to bring Puerto Rico back online after Hurricane Maria; and more. Read on for details. … Continue reading “Boston Tech Watch: Puerto Rico Aid, Doc Video Games, Applause Sale”
Ramp Founder Wilde Takes Over Indico as Reality Sets In for A.I.
[Updated 10/5/17, 6:21 pm. See below.] Technology companies like IBM have arguably overhyped the capabilities of their artificial intelligence technologies over the past few years. But some executives believe the field is turning a corner, and businesses are starting to deliver practical applications of A.I. “There’s some reality setting in,” says Boston software executive Tom … Continue reading “Ramp Founder Wilde Takes Over Indico as Reality Sets In for A.I.”
Paul English’s Lola Unveils Revamped App for Business “Road Warriors”
Some observers of mobile technologies wonder if they’re killing people’s “do-it-yourself” mentality, as a multitude of apps enable users to hire others to tackle tasks for them on demand, from grocery shopping and delivery to assembling their furniture. One area where smartphone owners apparently don’t want to completely hand off a task to someone else? … Continue reading “Paul English’s Lola Unveils Revamped App for Business “Road Warriors””
Infinidat, Now Profitable, Nabs $95M Investment at $1.6B Valuation
Infinidat, the six-year-old data-storage firm led by EMC co-founder Moshe Yanai, announced today it has bagged $95 million from investors. The Series C funding round was led by Goldman Sachs Private Capital Investing, and earlier backer TPG Growth contributed. The company’s private investors now value Infinidat at $1.6 billion, according to a press release. Its … Continue reading “Infinidat, Now Profitable, Nabs $95M Investment at $1.6B Valuation”
CarGurus, a Profitable Tech Company, Aims to Raise $162M in IPO
CarGurus is moving closer to becoming the Boston area’s first tech IPO of 2017. The Cambridge, MA-based firm aims to raise as much as $162.15 million in its initial public offering, according to a document filed with the SEC late last week. That would value CarGurus—which operates an online marketplace for buying and selling new … Continue reading “CarGurus, a Profitable Tech Company, Aims to Raise $162M in IPO”
Boston Tech Watch: Leerink, E14 Fund, Jobcase, Freight Farms & More
This week in Boston tech, we’re tracking a new $313 million growth equity fund for digital health companies, more money for an MIT Media Lab fund, layoffs at Freight Farms, and the arrival of another autonomous vehicle software startup, among other news. Read on for details. —Leerink Transformation Partners announced it raised $313 million for … Continue reading “Boston Tech Watch: Leerink, E14 Fund, Jobcase, Freight Farms & More”
Dassault to Pay $400M for Exa in Engineering Software Consolidation
Dassault Systèmes has agreed to acquire Exa Corporation, a seller of product simulation software, in a deal valued at about $400 million. Dassault said it will pay $24.25 per share for Burlington, MA-based Exa (NASDAQ: [[ticker:EXA]]), a 43 percent premium to Exa’s closing stock price on Wednesday, the day before the deal was announced. Exa’s … Continue reading “Dassault to Pay $400M for Exa in Engineering Software Consolidation”
Ori’s Robotic Furniture Hints at Future of Smart Homes, Urban Design
The “smart” device movement has brought us gadgets like Internet-connected thermostats, light bulbs, and speakers. Now, a startup out of MIT called Ori wants to add furniture and walls to the so-called Internet of Things. “When we think of the home of the future or office of the future, the IoT has been limited to … Continue reading “Ori’s Robotic Furniture Hints at Future of Smart Homes, Urban Design”
Nielsen to Buy Visual IQ as Adtech Acquisition Spree Continues
Nielsen has agreed to purchase Visual IQ in a move aimed at enhancing the research firm’s set of marketing tools and data-crunching capabilities. Terms of the deal, announced Wednesday, weren’t disclosed. The acquisition is expected to close in October. Needham, MA-based Visual IQ previously raised at least $15 million from investors, including Volition Capital and … Continue reading “Nielsen to Buy Visual IQ as Adtech Acquisition Spree Continues”
Chatbot Builder Drift Gets $32M from GC, Sequoia, HubSpot, CRV
Investors continue to feed the chatbots. Drift, a Boston-based startup that helps businesses boost sales and marketing efforts with virtual assistants and other software tools, said today it has raised $32 million in fresh venture capital. The Series B round of funding was led by General Catalyst, with contributions from CRV, HubSpot, and Sequoia Capital. … Continue reading “Chatbot Builder Drift Gets $32M from GC, Sequoia, HubSpot, CRV”
Air Force Scouts Autonomous Tech in New Boston Techstars Program
From GPS to the Internet, some of the most impactful technologies of the last century were driven by U.S. military investments. Department of Defense leaders want to continue that tradition, but fear that the military could be missing out on the latest innovations inside of high-tech startups because it doesn’t work with them as closely … Continue reading “Air Force Scouts Autonomous Tech in New Boston Techstars Program”
Tech Execs on the Move: Dell EMC, General Catalyst, Imprivata & More
Here are some of the latest notable hires and departures in the Boston-area tech scene: —Imprivata chief technology officer David Ting has left the healthcare IT security software company, Xconomy has learned. Ting co-founded the Lexington, MA-based company over a decade ago. Imprivata went public in 2014, then agreed to be acquired last year by … Continue reading “Tech Execs on the Move: Dell EMC, General Catalyst, Imprivata & More”
Boston Tech Watch: Autodesk, HubSpot, ViralGains, MLK Memorial & More
This week in Boston tech, we’ve been tracking another HubSpot artificial intelligence acquisition, investments in advertising and marketing technology startups, the acquisition of a nearly century-old local tech company, and a local entrepreneur’s effort to help build a memorial to Martin Luther King, Jr., in Boston. Read on for details. —HubSpot acquired Chicago-based Motion AI, … Continue reading “Boston Tech Watch: Autodesk, HubSpot, ViralGains, MLK Memorial & More”
CloudHealth Names Axbey CEO as Enterprise Cloud Spending Accelerates
Fresh off raising a $46 million venture funding round, CloudHealth Technologies is embarking on its next chapter under new leadership. On Thursday, the Boston-based IT management firm named Tom Axbey as its new president and CEO. Axbey previously led Rave Mobile Safety, a Framingham, MA-based company whose software is used to communicate and share data … Continue reading “CloudHealth Names Axbey CEO as Enterprise Cloud Spending Accelerates”
As CarGurus Preps IPO, These 6 Boston Tech Firms Could Be Next
Some predicted the U.S. tech IPO window would open wider this year, but it’s still just a slit. Only 14 tech companies have held initial public offerings in the U.S. this year, Bloomberg reported this week. (Notable IPOs include Snap, Blue Apron, and Redfin.) That follows 19 U.S.-listed tech IPOs last year and 28 in … Continue reading “As CarGurus Preps IPO, These 6 Boston Tech Firms Could Be Next”
MIT’s The Engine, Now With $200M, Makes First Bets: 3 Takeaways
[Updated 9/20/17, 8:18 am. See below.] Now the real work begins for The Engine, MIT’s ambitious venture fund and incubator. The organization announced its first batch of seven investments on Tuesday (see below), and revealed that it has raised $200 million, with plans to back 40 to 50 so-called “tough-tech” companies over the next few … Continue reading “MIT’s The Engine, Now With $200M, Makes First Bets: 3 Takeaways”
EiQ Networks Rebrands as Cygilant, Bags $7M to Fend Off Hackers
Cyber threats are mounting, and so are the investments in Boston cybersecurity companies. Earlier this morning, Threat Stack announced it closed a $45 million funding round. Meanwhile, EiQ Networks announced today it raised $7 million in growth capital and changed its name to Cygilant. The investment was led by Arrowroot Capital, an earlier backer of … Continue reading “EiQ Networks Rebrands as Cygilant, Bags $7M to Fend Off Hackers”
Cloud Security Firm Threat Stack Grabs $45M, Plans to Double Staff
Businesses big and small are increasingly storing their data and other IT assets on cloud servers, a move that can augment their operations, but also make them more exposed to cyber attacks. And that means opportunities for companies like Threat Stack, a Boston-based cybersecurity company that announced today it has raised $45 million in a … Continue reading “Cloud Security Firm Threat Stack Grabs $45M, Plans to Double Staff”
Formlabs’ New 3D Printing System Enables Custom Xconomy Awards: Video
When it comes to trophies, plaques and gold cups are so 20th century. For Xconomy’s first-ever awards gala, we decided to make custom prizes for the winning Boston-area life sciences companies and individuals, using advanced design software and 3D printers. (See video below. There are blue lasers involved—you’re welcome.) Xconomy partnered with Formlabs, a 3D … Continue reading “Formlabs’ New 3D Printing System Enables Custom Xconomy Awards: Video”
Formlabs 3D Prints Xconomy Awards With New Form Cell System: Photos
For Xconomy’s first-ever industry awards gala, we wanted to make trophies that stand out and represent the winning Boston life sciences innovators in a fun and creative way. These days, it doesn’t get much cooler than making stuff with 3D printers. We partnered with Formlabs, a 3D printing company located in nearby Somerville, MA, to … Continue reading “Formlabs 3D Prints Xconomy Awards With New Form Cell System: Photos”
Boston Tech Watch: Techstars, DraftKings, Kaspersky, PTC
This week in Boston tech, we’re tracking a new Techstars program to support early-stage companies, the latest development in DraftKings’ regulatory battles, a new home for PTC, and more problems for Kaspersky Lab. Read on for details. —Techstars is launching a second startup accelerator program in Boston, this one focused on autonomous technologies, such as … Continue reading “Boston Tech Watch: Techstars, DraftKings, Kaspersky, PTC”
Khosla Backs Ori, BU Creates Fund, Mobee Merges & More Boston Deals
Here are some of the latest venture funding and acquisition headlines from the Boston innovation cluster, including a $100 million endowment for Boston University research, international expansion for Bullhorn’s recruiting software business, and an investment in a robotic furniture startup. Read on for details. —Boston University said it plans to create a $100 million endowment … Continue reading “Khosla Backs Ori, BU Creates Fund, Mobee Merges & More Boston Deals”
MIT Spinout Affectiva Adds Voice Analysis to Its Emotion-Sensing Tech
Machines are getting better at understanding human speech. Soon, they could also be able to perceive our emotions from the way we talk—and respond accordingly. The latest step toward that longstanding vision comes from Affectiva, an MIT Media Lab spinout that has been developing emotion-sensing technology and products since 2009. In recent years, Boston-based Affectiva … Continue reading “MIT Spinout Affectiva Adds Voice Analysis to Its Emotion-Sensing Tech”
Goldman Sachs Leads $38M Investment in Cloud Storage Firm Nasuni
Cloud data storage company Nasuni has padded its war chest with a $38 million growth equity investment led by a Goldman Sachs fund. The new funding brings the Boston-based company’s total venture capital haul to about $120 million since it was founded in 2009. Nasuni last raised money in December 2016, a $25 million combination … Continue reading “Goldman Sachs Leads $38M Investment in Cloud Storage Firm Nasuni”
Balter Launches Cryptocurrency Investment Service, Flipside Crypto
The promise of cryptocurrencies has a lot of investors excited, but many don’t know how to go about putting money into the emerging, complex currencies. That’s part of the idea behind Flipside Crypto, a new Boston-based venture that helps a select group of wealthy individuals invest in digital currencies. Flipside is not a financial advisor. … Continue reading “Balter Launches Cryptocurrency Investment Service, Flipside Crypto”
IBM Puts $240M Into Joint A.I. Research Lab With MIT
IBM has bet much of its future on the promise of artificial intelligence. It’s still unclear whether that strategy will pay off, but the company continues to make significant investments in the technology area. The latest move: IBM will pour $240 million over 10 years into a joint A.I. research lab in partnership with MIT. … Continue reading “IBM Puts $240M Into Joint A.I. Research Lab With MIT”
HubSpot Buys Dating App, Joule Winds Down, & More Boston Tech News
It’s time to catch up on the latest happenings in the Boston-area tech scene: —Joule Unlimited, a decade-old biofuels company that raised at least $200 million in venture capital, is reportedly calling it quits. The Bedford, MA-based company laid off nearly all of its 120 employees, sold its New Mexico manufacturing facility, and is trying … Continue reading “HubSpot Buys Dating App, Joule Winds Down, & More Boston Tech News”
Aras Downloads $40M to Help GE, Microsoft & Others Design Products
As more hardware and devices get connected to the Internet, their increasing complexity is requiring more advanced software to coordinate how they get designed, manufactured, and repaired. That’s helping drive demand for companies like Aras, a 17-year-old business that sells “product lifecycle management” software to large enterprises like Airbus, General Motors, and Microsoft. And today, … Continue reading “Aras Downloads $40M to Help GE, Microsoft & Others Design Products”
From Robotic Chefs to Broadband Tech, Here Are 5 New Boston VC Deals
It’s time to catch up on some of the latest venture funding news from the Boston area. We’re tracking new money for companies whose products span software, telecommunications equipment, lab devices, robots, and food. Read on for details. —EverTrue scooped up $6 million in funding led by University Ventures, according to a press release e-mailed … Continue reading “From Robotic Chefs to Broadband Tech, Here Are 5 New Boston VC Deals”
As Architects Adopt VR, Acentech Adds Sound Simulations to the Mix
Architects are starting to embrace virtual reality as a tool for showing clients what their future buildings could look like. Now, Acentech wants to integrate audio simulations so they can hear what the spaces would sound like, too. The Cambridge, MA-based consulting business spun out of the renowned BBN Technologies (now owned by Raytheon) more … Continue reading “As Architects Adopt VR, Acentech Adds Sound Simulations to the Mix”
Facebook Boston to Open New Office, Hire 500 People: Report
[Updated 8/30/17, 12:30 pm, with comment from Facebook.] Facebook is reportedly planning to go on a hiring spree in the Boston area. The giant social networking company, based in the San Francisco Bay Area, intends to move into a new office in Cambridge, MA, next year and add more than 500 local employees, the Boston … Continue reading “Facebook Boston to Open New Office, Hire 500 People: Report”
ESports Startup Gamer Sensei Tracks Down $4M for Video Game Coaching
[Updated 8/30/17, 8:07 am, with comments from co-founder.] The popularity of eSports is surging around the world, and elite video game competitors are getting rich winning tournaments in front of sold-out arenas. Investors think that spells opportunity for Gamer Sensei, a Boston-based startup that connects eSports players with professional gamers who provide one-on-one online lessons. … Continue reading “ESports Startup Gamer Sensei Tracks Down $4M for Video Game Coaching”
Boston Tech Watch: Rethink Robotics, SquadLocker, Semcasting & More
There was a flurry of tech deals announced this week in Boston, including the acquisitions of Applause, Digital Lumens, and Dragon Innovation, and a $6 million investment in GNS Healthcare. Here are a few more deals you might have missed: —Rethink Robotics raised $18 million from investors, part of a funding round announced last December … Continue reading “Boston Tech Watch: Rethink Robotics, SquadLocker, Semcasting & More”
Osram Greenlights Acquisition of Digital Lumens as IoT Powers Up
[Corrected 8/23/17, 5:30 pm. See below.] Lately, if you blink, you might miss the news of another sale of a Boston-area tech company. The latest is Digital Lumens. Germany-based lighting manufacturer Osram has agreed to acquire the nine-year-old Boston firm, which sells LED lighting systems equipped with sensors and controlled by software. The purchase price … Continue reading “Osram Greenlights Acquisition of Digital Lumens as IoT Powers Up”
Vista Equity to Acquire Applause, as App Testing Firm Eyes Profits
The rise of smartphones, wearables, and other Internet-connected devices has enabled Applause to build what it says is a thriving business helping companies like Facebook and Starbucks test their apps and other digital products. Now, the decade-old firm, a stalwart of the Boston tech scene, intends to boost its growth with the help of a … Continue reading “Vista Equity to Acquire Applause, as App Testing Firm Eyes Profits”