It’s funny how relationships can come full circle in the business world. The seeds of Dragon Innovation’s sale to Avnet, announced Tuesday, were planted over a decade ago in China, says Dragon co-founder and CEO Scott Miller. At the time, he was running iRobot’s operations there alongside his future Dragon co-founder Herman Pang, he says. … Continue reading “Scott Miller Talks Dragon Innovation’s Winding Journey to Avnet Deal”
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.
Avnet Acquires Boston Hardware Consultant Dragon Innovation
Dragon Innovation, the Boston-area hardware consulting firm, has been acquired by one of its partners, Avnet, for an undisclosed price. Phoenix-based global distributor Avnet (NYSE: [[ticker:AVT]]) says it offers a mix of product design and supply chain services. Prior to the deal, Avnet owned a portfolio of seven subsidiaries, and it has been on an … Continue reading “Avnet Acquires Boston Hardware Consultant Dragon Innovation”
Marketing Startup Sigstr Gets $5M From Hyde Park, HubSpot & Others
Sigstr, an e-mail marketing startup based in Indianapolis, says it has raised $5 million in Series A funding. The investment was led by Hyde Park Venture Partners, which was joined by HubSpot (NYSE: [[ticker:HUBS]]), Battery Ventures, Grand Ventures, and High Alpha Capital. Investors have pumped a total of $7 million into Sigstr, a company spokeswoman … Continue reading “Marketing Startup Sigstr Gets $5M From Hyde Park, HubSpot & Others”
HubSpot Dips Toe Further Into Startup Investing With Sigstr Deal
HubSpot is ramping up its startup investments as part of a larger strategic effort to augment the capabilities of its sales and marketing software tools. Some of the young companies HubSpot backs may become its partners—if they’re not already—by integrating their services with the larger company’s. The 12-year-old Cambridge, MA-based company made its first investment … Continue reading “HubSpot Dips Toe Further Into Startup Investing With Sigstr Deal”
Boston Tech Watch: ZoomInfo, CloudHealth, Endurance, Smilo & More
[Updated 8/21/17, 11:34 am. See below.] This week in Boston tech, we’re tracking endings and new beginnings. It’s the end of an era at both 17-year-old ZoomInfo, which just got acquired, and 20-year-old Endurance International Group, which named the successor to its founding CEO. CloudHealth Technologies will move into new digs next year. GoPapaya is … Continue reading “Boston Tech Watch: ZoomInfo, CloudHealth, Endurance, Smilo & More”
After Cybersecurity Shift, Black Duck Is Growing Fast & Eyeing Deals
Transforming a well-established company is a tricky feat. It looks like Black Duck Software has figured out how to pull it off. Xconomy recently checked in with the Burlington, MA-based company, which has been around since 2003. Under founding CEO Doug Levin, Black Duck made a name for itself by providing tools to help software … Continue reading “After Cybersecurity Shift, Black Duck Is Growing Fast & Eyeing Deals”
SnapApp Snaps Up $10.2M as Boston Marketing Tech Sector Surges
Marketing technology is continuing its run as one of the hottest industries of the summer in the Boston-area tech scene. The latest to cash in on the deal making is SnapApp, which on Tuesday announced it received a $10.2 million investment from earlier backer Providence Strategic Growth. Providence Strategic Growth, the growth equity affiliate of … Continue reading “SnapApp Snaps Up $10.2M as Boston Marketing Tech Sector Surges”
SoftBank-Backed Altaeros Wants Blimps to Deliver “SaaS in the Sky”
More than 4 billion people around the world lack Internet access, and some tech giants and small startups are betting the solution will come from floating or flying broadband-beaming equipment in the sky. It’s still unclear whether that strategy will, uh, take off. But the investment in this emerging sector is certainly growing. The latest … Continue reading “SoftBank-Backed Altaeros Wants Blimps to Deliver “SaaS in the Sky””
Boston Tech Watch: Ticketmaster, Accomplice, Jebbit & More
Time to catch up on more New England tech news. This week, we’re tracking acquisitions by a division of Ticketmaster, new funding for a trio of local companies, and the latest on the makeover of Accomplice’s venture investing team. Read on for details. Changing hands —Ticketmaster-owned TicketWeb is buying Strobe Labs, a startup that provides … Continue reading “Boston Tech Watch: Ticketmaster, Accomplice, Jebbit & More”
Evergage, Altaeros, Tinkergarten Among Flurry of Boston Tech Deals
August is here, but there’s been no summer slowdown in the Boston-area tech scene. Here are four deals announced in the past day or so, which cut across marketing, education, telecommunications, and database software: —Evergage, the Somerville, MA-based marketing technology firm, snapped up $10 million in a Series C funding round led by Arrowroot Capital, … Continue reading “Evergage, Altaeros, Tinkergarten Among Flurry of Boston Tech Deals”
DataRobot, Brightcove, Namogoo, Shelf & More New England Tech News
Here are some recent headlines from New England’s tech scene, including a leadership shakeup at Brightcove, more money for fast-growing data science software startup DataRobot, and investments in a pair of Connecticut companies. Read on for details. —Brightcove CEO David Mendels resigned from the online video hosting and marketing company in a “mutual agreement” with … Continue reading “DataRobot, Brightcove, Namogoo, Shelf & More New England Tech News”
NextView Ventures Raises $50M for Third Early-Stage Tech Fund
Seed investments in early-stage companies around the country are slowing down, but some seed-stage venture firms in the Boston area apparently are having little trouble raising new funds. The latest example is NextView Ventures, which on Wednesday announced it closed a $50 million fund, the firm’s third. NextView was started in 2010 and raised $21 … Continue reading “NextView Ventures Raises $50M for Third Early-Stage Tech Fund”
Artaic Assembles $2.1M, Aims to Put Custom Mosaics in More Homes
Ted Acworth is inching closer to his goal of making the ancient art form of mosaics accessible to most 21st century homeowners. Acworth, a mechanical engineer and world traveler, started the Boston-based company Artaic a decade ago after he looked into decorating his home with custom tile mosaics, but discovered it would be too expensive … Continue reading “Artaic Assembles $2.1M, Aims to Put Custom Mosaics in More Homes”
LogMeIn to Buy Israeli A.I. Company Nanorep for $45M
LogMeIn has agreed to acquire Nanorep, an Israeli firm that makes customer service software using artificial intelligence technologies, for around $45 million. The Boston-based company (NASDAQ: [[ticker:LOGM]]) said it expects to pay up to an additional $5 million in “contingent cash payments to certain continuing employees of Nanorep upon their achievement of milestone and retention targets” … Continue reading “LogMeIn to Buy Israeli A.I. Company Nanorep for $45M”
Amid Slow VR Growth, Virtual Hangouts Startup AltspaceVR to Shut Down
Despite advances in virtual reality technology and plenty of hype, the medium has yet to take off in the way its advocates envision. The latest reminder is the demise of AltspaceVR, a Redwood City, CA-based startup that hosts social experiences in virtual venues. The four-year-old company announced in a blog post Friday that it will … Continue reading “Amid Slow VR Growth, Virtual Hangouts Startup AltspaceVR to Shut Down”
DataCamp Nabs $4M for Data Science Courses, Moves to NY
Data scientists remain in high demand. But these days, many types of professionals can boost their career prospects if they have at least a basic level of “data literacy,” says Jonathan Cornelissen. That’s part of the reason why he says his online education company, DataCamp, has been growing over the past couple of years. DataCamp, … Continue reading “DataCamp Nabs $4M for Data Science Courses, Moves to NY”
IRobot Buys French Distributor as Home Robotics Plan Picks Up Steam
[Corrected 7/28/17, 3:36 pm. See below.] Roomba vacuum maker iRobot says it has struck an agreement to acquire Robopolis, a Lyon, France-based distributor of iRobot products, for $141 million in cash. The deal is aimed at boosting iRobot’s (NASDAQ: [[ticker:IRBT]]) distribution network and ensuring “global brand consistency,” the Bedford, MA-based company says in a press … Continue reading “IRobot Buys French Distributor as Home Robotics Plan Picks Up Steam”
Warehouse Robotics Maker 6 River Systems Grabs $15M
[Updated 7/26/17, 4:56 pm, with comments from co-CEO.] 6 River Systems has scooped up $15 million from investors to help push its robots into more warehouses. The new funding round was led by Norwest Venture Partners, with contributions from earlier backers, including venture firm Eclipse and consumer robotics company iRobot (NASDAQ: [[ticker:IRBT]]), according to a … Continue reading “Warehouse Robotics Maker 6 River Systems Grabs $15M”
Toast Devours $101M for Restaurant Tech, Plans to Hire 1,000
Toast, the fast-growing restaurant technology company, has just been served a heaping portion of venture capital to continue expanding. On Tuesday, the Boston-based company announced a $101 million investment led by new backers Generation Investment Management—whose co-founder and chairman is former Vice President Al Gore—and Lead Edge Capital. Bessemer Venture Partners and other earlier Toast … Continue reading “Toast Devours $101M for Restaurant Tech, Plans to Hire 1,000”
Investors Pump $10.5M Into Circulation for Medical Transport Software
Technology companies are developing a wide array of healthcare products and services that get deployed in hospitals and homes. Few are focused on what happens in between—the ride to and from medical appointments. Circulation is one of the tech businesses trying to make non-emergency medical transportation more effective and efficient. The company’s software coordinates rides … Continue reading “Investors Pump $10.5M Into Circulation for Medical Transport Software”
Boston Tech Watch: Vets First Choice, nToggle, VoltDB, Embark & More
[Updated 7/25/17, 9:21 am. See below.] Here are some of the recent deals in New England’s tech sector: —Vets First Choice, a Portland, ME-based maker of software for veterinary clinics, announced it raised $223 million from a group of investment firms, including Clayton, Dubilier & Rice and Hillhouse Capital Group. —Boston advertising technology startup nToggle … Continue reading “Boston Tech Watch: Vets First Choice, nToggle, VoltDB, Embark & More”
With Helix’s Help, Lose It Adds Genetic Insights to Weight Loss App
Does your genetic code contain information that can help you lose weight? It’s a serious question in science, and in business. Now, the makers of Lose It aim to find out. The nine-year-old mobile app—from Boston-based parent company FitNow—was early in the field of using smartphones to log workouts and meals, and track progress toward … Continue reading “With Helix’s Help, Lose It Adds Genetic Insights to Weight Loss App”
Rapid7 Buys Jen Andre’s Startup, Komand, to Automate Security Tasks
[Updated 9/21/18, 11:13 am. See below.] Rapid7 says it has acquired Komand, a small deal between two Boston companies that nevertheless fits into bigger trends in cybersecurity. The acquisition price wasn’t disclosed in the initial deal announcement. Rapid7 (NASDAQ: [[ticker:RPD]]) later revealed it paid $14.8 million in cash, plus it offered potential payments of up … Continue reading “Rapid7 Buys Jen Andre’s Startup, Komand, to Automate Security Tasks”
NewStore Rings Up $50M to Help Retailers Win “Mobile Influence”
Online shopping is going to become a “mobile-only world,” says Stephan Schambach. The entrepreneur has been building e-commerce companies since the early days of the Web in the early 1990s. But with the exploding popularity of smartphones, the day is coming when “we are going to look at desktop commerce with a sense of nostalgia,” … Continue reading “NewStore Rings Up $50M to Help Retailers Win “Mobile Influence””
Desktop Metal Grabs $115M, Preps September Launch of First Product
Desktop Metal has added $115 million in venture capital to its coffers. The Series D funding round announced Monday ups the already-high expectations for the Burlington, MA-based metal 3D printing company, one of New England’s biggest technology bets. Two-year-old Desktop Metal has hauled in a total of $212 million from investors—all before shipping its first … Continue reading “Desktop Metal Grabs $115M, Preps September Launch of First Product”
Boston Tech Watch: Amazon, Kayak, Runkeeper, Kaspersky & More
This week in Boston tech, we’re tracking Amazon’s local expansion plans, a new venture fund that will invest in women-led companies, executive moves at Asics-owned Runkeeper and The Finally Light Bulb Company, and more. Read on for details. —At a press event, Amazon announced plans to hire 900 people that will work at an office … Continue reading “Boston Tech Watch: Amazon, Kayak, Runkeeper, Kaspersky & More”
DraftKings and FanDuel Abandon Merger After FTC Challenge
The DraftKings-FanDuel merger is dead. The two online fantasy sports companies said Thursday they have terminated their agreement to join forces. The decision comes a few weeks after the Federal Trade Commission filed a complaint in federal district court attempting to block the deal over concerns that it would create a near-monopoly in the U.S. … Continue reading “DraftKings and FanDuel Abandon Merger After FTC Challenge”
Bevi Slurps $16.5M to Bring “Smart Water Cooler” to More Offices
Add high-tech, healthy beverage dispensers to the list of trendy office perks. About three years ago, Boston-based startup Bevi launched its tech-enabled take on the traditional water cooler by installing an initial batch of about a dozen of its machines at local offices. Since then, the company says around 1,000 of the Internet-connected beverage kiosks … Continue reading “Bevi Slurps $16.5M to Bring “Smart Water Cooler” to More Offices”
Edgewise, With $7M in Tow, Aims to Simplify Network Security With AI
[Updated 7/12/17, 11:37 am. See below.] A new cybersecurity startup from the Boston area is continuing the trend of using machine learning technologies to both fortify and reduce complexity in businesses’ cyber defenses. Edgewise Networks was founded in the spring of 2016 by Peter Smith, an IT expert and veteran of Endeca and Harvard Business … Continue reading “Edgewise, With $7M in Tow, Aims to Simplify Network Security With AI”
DataGravity Snapped Up by HyTrust After Struggles and Layoffs
DataGravity, one of New England’s bigger tech bets, has been acquired by California cybersecurity firm HyTrust. Terms of the deal weren’t disclosed, but the financial outcome doesn’t seem to be a good one for DataGravity’s investors, who had pumped at least $92 million into the company. Mountain View, CA-based HyTrust also announced a $36 million … Continue reading “DataGravity Snapped Up by HyTrust After Struggles and Layoffs”
Dell Wirelessly Charging PC Marks WiTricity’s First Consumer Device
A new Dell tablet/laptop hybrid computer that can be charged without a power cord hits shelves this week. The new device, called the Latitude 7285 (pictured above), signals the continued spread—albeit slowly—of consumer electronics that can be juiced up wirelessly. The wireless charging technology embedded in the “2-in-1 notebook computer” comes from Watertown, MA-based WiTricity, … Continue reading “Dell Wirelessly Charging PC Marks WiTricity’s First Consumer Device”
VC “Self-Correction” Continues in Second Quarter, and Top 10 Deals
[Updated 7/12/17, 8:38 am, to add MoneyTree data. See below.] U.S. venture capital investments are showing more signs of returning to steady levels. Investors pumped $21.78 billion into 1,958 companies in the second quarter, according to data from the quarterly Venture Monitor report from Seattle-based PitchBook and the National Venture Capital Association (NVCA). The number … Continue reading “VC “Self-Correction” Continues in Second Quarter, and Top 10 Deals”
Boston Tech Watch: TechSandBox, BitSight, Upserve, DBmaestro & More
Here are some of the latest headlines from the Boston-area tech sector: —TechSandBox, a high-tech startup incubator located about 30 miles west of Boston, announced that it will shut down at the end of July due to “lack of sustainable funding.” The nonprofit opened in 2013 and helped start more than 50 companies, it said … Continue reading “Boston Tech Watch: TechSandBox, BitSight, Upserve, DBmaestro & More”
A.I., Uber & What’s Next in Tech: Q&A With Kayak Founder Paul English
Technology can’t solve every problem. Sometimes engineers overlook human-driven solutions to the world’s biggest challenges. That was one of the takeaways from my chat with Paul English at Xconomy’s recent business conference, IMPACT, held at the Museum of Science in Boston. The serial entrepreneur is best known as the co-founder and former chief technology officer … Continue reading “A.I., Uber & What’s Next in Tech: Q&A With Kayak Founder Paul English”
After Sale to Accenture, Intrepid Eyes Next Chapter in Mobile Tech
When Mark Kasdorf started his software design and development shop, Intrepid Pursuits, in 2010, mobile apps were basically a box for businesses to check off on their corporate to-do list. “It kind of felt like everyone needed an app, and no one knew why,” Kasdorf recalls. “These people within larger companies vaguely remembered messing up” … Continue reading “After Sale to Accenture, Intrepid Eyes Next Chapter in Mobile Tech”
Propel Marketing Rebrands as ThriveHive to Stand Out in Noisy Field
ThriveHive is back. The name, that is. Quincy, MA-based Propel Marketing announced this week it will now go by ThriveHive. That’s the name of the local marketing-tech startup Propel acquired last year for $11.8 million in cash. Propel continued to use the ThriveHive name in marketing its products and services, but the full rebranding is … Continue reading “Propel Marketing Rebrands as ThriveHive to Stand Out in Noisy Field”
Progress Buys Mobile Backend Company Kinvey for $49M
[Updated 6/29/17, 8:33 am. See below.] Kinvey, one of the early players in mobile backend services, has been acquired by Progress for $49 million in cash. Progress, a 36-year-old software firm, has for years offered products and services for building, deploying, and managing business applications. Lately, it’s been focusing on making those tools more robust and sophisticated—a … Continue reading “Progress Buys Mobile Backend Company Kinvey for $49M”
Fighting Harassment, Raising Funds, & More Boston Tech News
Summer is here, but news from the Boston-area tech community hasn’t slowed down. Here are some of the recent headlines: —In a Medium blog post, the New England Venture Capital Association (NEVCA) pledged more action to fight discrimination and sexual harassment. The initiatives are partly a response to sexual harassment allegations against venture capitalist Justin … Continue reading “Fighting Harassment, Raising Funds, & More Boston Tech News”
Catalant Scoops Up $41M to Boost Business Consulting Marketplace
It’s officially summer in Boston—the mercury is rising, and the venture capital is flowing. The latest local startup to cash in is Catalant Technologies, which on Tuesday morning announced it received a $41 million investment. Catalant joins CloudHealth Technologies, which announced a $46 million Series D funding round on Tuesday. And last week, Rubius Therapeutics … Continue reading “Catalant Scoops Up $41M to Boost Business Consulting Marketplace”
CloudHealth Gets $46M as IT Management Sector Heats Up
CloudHealth Technologies says today it has snapped up $46 million in funding, continuing a surge of investments in companies that help businesses manage their cloud storage. The Series D funding round was led by new backer Kleiner Perkins Caufield & Byers, with contributions from Meritech Capital Partners, .406 Ventures, Sapphire Ventures, and Scale Venture Partners. … Continue reading “CloudHealth Gets $46M as IT Management Sector Heats Up”
Xconomy IMPACT Highlights Innovation That Matters: The Photos
Last week’s Xconomy IMPACT event at the Museum of Science in Boston tackled a big theme—“innovation that matters”—but our speakers did not disappoint. The program explored a broad mix of ambitious ideas and advanced technologies—brain-computer interfaces, self-driving cars, collaborative robots, interactive entertainment, and much more. Speakers also offered solutions to some of the most pressing … Continue reading “Xconomy IMPACT Highlights Innovation That Matters: The Photos”
GE, IBM Race to Deliver on A.I. Hype in Healthcare
This story is part of an ongoing series on A.I. in healthcare. A companion piece today looks at the question of when A.I. might replace doctors. Artificial intelligence has a long road ahead to reach the front lines of healthcare—but it’s coming. Big companies and startup investors are pouring billions of dollars into A.I. technologies for … Continue reading “GE, IBM Race to Deliver on A.I. Hype in Healthcare”
When Will A.I. Replace Doctors?
This story is part of an ongoing series on A.I. in healthcare. A companion piece today looks at advances from GE, IBM, and other competitors. Even as big companies race to build up their artificial intelligence capabilities, the prospect of using A.I. technologies in healthcare raises more questions than answers. Want more AI, machine learning, and drug … Continue reading “When Will A.I. Replace Doctors?”
Energy Software Firm EnerNOC Inks $300M Sale to Enel Group
EnerNOC, a 16-year-old energy management software company, has agreed to be acquired by Enel Group, a global power utility company, in an all-cash deal valued at over $300 million. Enel Group, through its subsidiary Enel Green Power North America, plans to purchase Boston-based EnerNOC (NASDAQ: [[ticker:ENOC]]) for $7.67 per share, a 42 percent premium to … Continue reading “Energy Software Firm EnerNOC Inks $300M Sale to Enel Group”
Localytics Replaces Founding CEO After Becoming Cash-Flow Positive
Localytics, one of Boston’s prominent mobile analytics and marketing software companies, has replaced its founding CEO Raj Aggarwal with Jude McColgan, a veteran mobile software executive. Aggarwal (pictured at right) will remain involved with the company, but his exact role is unclear. A spokeswoman says Aggarwal’s new role will be full-time and he will remain … Continue reading “Localytics Replaces Founding CEO After Becoming Cash-Flow Positive”
FTC Challenges DraftKings-FanDuel Merger Over Monopoly Concerns
[Updated 6/20/17, 10:20 pm. See below.] The Federal Trade Commission is attempting to block the proposed merger of DraftKings and FanDuel over concerns that it would create a near-monopoly in the U.S. market for paid daily fantasy sports contests. The FTC, along with the offices of the attorneys general in California and Washington, DC, said … Continue reading “FTC Challenges DraftKings-FanDuel Merger Over Monopoly Concerns”
Boston Tech Watch: GE, Optimus Ride, Tufin, Zaius, Dispatch & More
This week in Boston tech, we’re tracking the latest moves by General Electric (in addition to its big CEO transition), Boston’s efforts to become a hub for driverless car development, the latest Boston-Israel business connection, and more. Read on for details. —It was a busy week for GE (NYSE: [[ticker:GE]]). The giant Boston-based corporation named … Continue reading “Boston Tech Watch: GE, Optimus Ride, Tufin, Zaius, Dispatch & More”
Boston Event Showcases Entrepreneurs of Color: Photo Slideshow
When Ed Gaskin visited a high school class in Boston where students—many of them people of color—were writing code to create video games, he asked them if they had ever considered becoming an entrepreneur. Each student said no, he says. Gaskin is the executive director of Greater Grove Hall Main Streets, a nonprofit economic development … Continue reading “Boston Event Showcases Entrepreneurs of Color: Photo Slideshow”
Sqrrl Sniffs Out $12.3M to Push “Threat Hunting” Software
[Updated 6/14/17, 3:58 pm. See below.] Sqrrl has grabbed $12.3 million from investors to help drive more sales of its software that aims to detect cyber attackers. The Series C funding round was led by Spring Lake Equity Partners, whose partner Jeff Williams will join Sqrrl’s board. Other investors in the round include previous Sqrrl … Continue reading “Sqrrl Sniffs Out $12.3M to Push “Threat Hunting” Software”
Pulse@MassChallenge Spurs Deals in Digital Health Lab’s 1st Session
The refrain among digital health startups is it can be difficult and time-consuming to convince hospitals and other healthcare organizations to try out their products, let alone buy them. Pulse@MassChallenge, a new Boston “lab” dedicated to supporting digital health ventures, matches startups with partner organizations—think hospitals, insurers, larger tech companies, nonprofits, and government entities—to collaborate … Continue reading “Pulse@MassChallenge Spurs Deals in Digital Health Lab’s 1st Session”