It’s a dilemma that many tech startups face: How quickly should they expand beyond their first product? Adding new products and services might help grow sales, but young, small companies need to be careful that they don’t bite off more than they can chew. Milwaukee healthcare technology startup Mpirik wrestled with that question, and decided … Continue reading “Mpirik Expands Orthopedic Software Suite, Aided by $1.7M Investment”
Category: National
To Manage a Successful Sports Team, Focus on Data
The mantra of youth sports where “everyone gets a trophy” is permeating professional leagues. These days every team can claim some semblance of winning. In the bygone era of the NFL, two teams made the playoffs and that consisted of one game, the Super Bowl. Today six teams from each conference advance, and there is … Continue reading “To Manage a Successful Sports Team, Focus on Data”
Commentary: TechTown’s Leslie Smith Leaving For New Gig in Memphis
I got the news that Leslie Smith, TechTown‘s CEO since 2011, was leaving for a new gig in Memphis through an invitation to her going-away party. I was promptly crushed. Not only has Leslie been a great source who’s always good for a no-b.s. quote, she’s also a person who has worked tirelessly to better … Continue reading “Commentary: TechTown’s Leslie Smith Leaving For New Gig in Memphis”
Marc Raibert Joins Robo Madness Boston, March 11: Here’s the Agenda
We’re two weeks away from one of the biggest robotics events in Boston tech history. Robo Madness Boston will take place the afternoon of Wednesday, March 11, at Google in Kendall Square. Here’s the full agenda, pending a few last-minute tweaks. I’m pleased to announce that famed roboticist Marc Raibert is joining the program. As a … Continue reading “Marc Raibert Joins Robo Madness Boston, March 11: Here’s the Agenda”
Tech Wildcatters’ New Network Enlists Corporations to Boost Startups
To help startups get off the ground, Tech Wildcatters is bringing in Big D’s big businesses. The Dallas-based accelerator has unveiled a new program called the Corporate Innovation Network, a select group of companies that will have a much more hands-on role with Tech Wildcatters’ startups. “This is a way to formalize the relationship with … Continue reading “Tech Wildcatters’ New Network Enlists Corporations to Boost Startups”
Dtex Lands $15M To Expand Cybersecurity Shield to US
Mohan Koo, CEO and founder of cybersecurity company Dtex Systems, has spent 15 years battling the most insidious kind of cyber enemy a company can have—one of its own employees. And he has globe-spanning tales to tell. In Australia, where Dtex was founded in 2000, Koo helped the government track officials suspected of leaking sensitive … Continue reading “Dtex Lands $15M To Expand Cybersecurity Shield to US”
Chute: Tracking Underground Oscar Winners By Photo-Sharing Buzz
Two respected characters actors, Julianne Moore and Eddie Redmayne, won the top acting honors at the Academy Awards show Sunday night. But the award for biggest buzz, according to the social media bounce on Instagram during the broadcast, goes to actress and singer Jennifer Lopez for a full-length photo of herself in a sweeping Elie Saab gown. … Continue reading “Chute: Tracking Underground Oscar Winners By Photo-Sharing Buzz”
Google Buys App-Marketing Software Startup Toro
Artificial intelligence, e-commerce, augmented reality, software that controls smoke alarms—the list goes on for the types of businesses that serial acquirer Google purchased in 2014 alone. Now add Toro, app-marketing software that targets Facebook users, to the mix. For an undisclosed price, Google has acquired Red Hot Labs, which created Toro to run ad campaigns for … Continue reading “Google Buys App-Marketing Software Startup Toro”
Financial Software Startup nCino Banks $29M in Series B Round
[Updated 2/24/15, 4:19 pm. See below] Cloud banking software company nCino has raised $29 million in a Series B round of financing as the startup charts a growth course that could take its offering into bigger banks and international markets. Insight Venture Partners led the round, which also included investments from existing investors Wellington Management; … Continue reading “Financial Software Startup nCino Banks $29M in Series B Round”
GuideSpark Snags $22M Series C for Developing HR Communication Tools
GuideSpark, a company that makes custom videos and multimedia presentations for human resources departments, has received $22.2 million of Series C funding, according to Linda Itskovitz, vice president of marketing. The Menlo Park, CA-based company will use the money for new hires and to develop every part of the business, from sales to product development … Continue reading “GuideSpark Snags $22M Series C for Developing HR Communication Tools”
Shire Acquires Meritage Pharma in Deal Potentially Worth $245M
[Updated 2/24/15 6:10 pm. See below.] After acquiring ViroPharma last year in a $4.2 billion deal focused on Cinryze, the Irish pharmaceutical giant Shire says it is following through on a four-year-old option that Exton, PA-based ViroPharma held with San Diego’s Meritage Pharma. In a statement today, Shire says it has acquired San Diego’s Meritage … Continue reading “Shire Acquires Meritage Pharma in Deal Potentially Worth $245M”
Wisconsin Roundup: Exact Sciences, Arrowhead, MCW, Marquette, & More
Here are some of the latest headlines from Wisconsin’s technology and innovation community: —Exact Sciences (NASDAQ: [[ticker:EXAS]]) could receive up to $9 million in state tax credits if it creates more than 750 jobs and invests $26 million in capital purchases here by 2020. The Madison-based company has been beefing up its staff after receiving … Continue reading “Wisconsin Roundup: Exact Sciences, Arrowhead, MCW, Marquette, & More”
Humanyze Hits Up Investors to Support “People Analytics” in Business
You know the expression, “It’s all about the people”? One local startup has figured out a way to quantify that approach, using sensors and software in corporate settings. The startup is called Humanyze—it was formerly known as Sociometric Solutions—and it spun out of the MIT Media Lab in 2011. Since then, the eight-person company has … Continue reading “Humanyze Hits Up Investors to Support “People Analytics” in Business”
Simple Energy Flips Switch on E-Commerce Site for Utility Customers
Explaining how you can save money, and maybe the planet, by cutting energy consumption is simple. Getting people to change their behavior is not. Simple Energy, a software company in Boulder, CO, has made solving that challenge its mission since it was founded in 2011, and now it has what it thinks is a powerful … Continue reading “Simple Energy Flips Switch on E-Commerce Site for Utility Customers”
Former Biotech CEO Richard Hollis Unveils Web Startup Holonis
Richard Hollis, who lost control of his namesake biotech company in 2009, is staging a comeback with the launch of San Diego-based Holonis, an online marketplace providing e-commerce software and services on a subscription basis for business customers. While Hollis spent 30 years in the pharmaceutical industry, beginning in 1978 as a salesman with Baxter … Continue reading “Former Biotech CEO Richard Hollis Unveils Web Startup Holonis”
Austin Ventures Changes Tack, Shows Growth of City’s Startup Scene
Austin Ventures funded many of the first generation of technology companies that put the Texas capitol on the innovation map. But after three decades and 10 funds, the venture capital firm has decided not to raise an 11th for early stage investing. The announcement set off speculation in a recent article in Fortune that the … Continue reading “Austin Ventures Changes Tack, Shows Growth of City’s Startup Scene”
Online Men’s Underwear Seller Mack Weldon Sews Up $4M Series A Round
Every startup goes mining for glittery fortune—this one has actual silver woven into its garments. New York-based Mack Weldon announced Tuesday it raised $4 million in a Series A round for its direct-to-consumer premium undergarments. Investors in the round included RiverPark Ventures, Bridge Investments, and Lyrical Partners. Along with the funding, the company added Howard … Continue reading “Online Men’s Underwear Seller Mack Weldon Sews Up $4M Series A Round”
See “New York’s Life Science Disruptors” on March 12: Here’s the Agenda
We’re coming down the home stretch towards our latest Big Apple biotech bash. In just a few weeks, on March 12, Xconomy will bring the local biotech community together for “New York’s Life Science Disruptors” at the Alexandria Center for Life Science at East River Science Park. It’s a candid event; you’ll hear the behind-the-scenes … Continue reading “See “New York’s Life Science Disruptors” on March 12: Here’s the Agenda”
Raleigh-Durham Roundup: LabCorp, Alevo, Piedmont Pharma, & More
Here are the headlines from the past week in North Carolina tech, biotech, and cleantech news. —LabCorp completed its $6.2 billion acquisition of Covance. Burlington, NC-based LabCorp (NYSE:[[ticker:LH]]), announced last November an agreement to acquire New Jersey-based Covance, a provider of outsourced services to the pharmaceutical industry. LabCorp, a laboratory testing and diagnostics company, says … Continue reading “Raleigh-Durham Roundup: LabCorp, Alevo, Piedmont Pharma, & More”
Website Software Seller Acquia Reports $100M in Sales
Acquia has been billing itself as a “pre-IPO” software company for a couple of years now, but the seller of website-publishing software and services remains private. That’s not terribly unusual these days, with a growing number of private tech companies stacking up investment valuations of $1 billion or more without touching the public markets. But … Continue reading “Website Software Seller Acquia Reports $100M in Sales”
U-M’s Michigan Business Challenge Awards Top Student Startups
The Michigan Business Challenge, the University of Michigan’s annual business competition for innovative, student-led startups, ended Friday after a four-month process. More than $129,000 in grants and prizes went to the winners, including Applebaum Dare to Dream and Mayleben Venture Shaping grants. New this year was a social impact track, which organizers hoped would attract … Continue reading “U-M’s Michigan Business Challenge Awards Top Student Startups”
DriverUp Launches Online Auto Loan Marketplace With $50M Series A
An online marketplace for auto loans called DriverUp has grabbed $50 million in Series A funding to launch its service. DriverUp, which is run by Dallas-based specialty finance company Sierra Auto Finance, helps auto dealers make loans to their customers by crowd-sourcing accredited investors who want to make direct investments in the auto loans. Both … Continue reading “DriverUp Launches Online Auto Loan Marketplace With $50M Series A”
Triangle Startup Weekend Unites Educators, Entrepreneurs
Educators and entrepreneurs converged during the latest iteration of Triangle Startup Weekend in Raleigh, NC, to brainstorm and launch ideas aimed at solving problems in the K-12 system. During the final hours of the event Feb. 22, 10 teams scrambled to finish demos of products designed to address issues such as student engagement, parent-teacher communication, … Continue reading “Triangle Startup Weekend Unites Educators, Entrepreneurs”
Flexus Speeds From Inception to $1.25B Bristol Buyout In Less Than Two Years
In biotech, there are quick flips, and there is what Flexus Biosciences managed to accomplish today. Just over a year after emerging from stealth, the San Carlos, CA-based startup has been acquired by Bristol-Myers Squibb in a deal worth up to $1.25 billion. New York’s Bristol-Myers (NYSE: [[ticker:BMY]]) is paying $800 million up front to … Continue reading “Flexus Speeds From Inception to $1.25B Bristol Buyout In Less Than Two Years”
Well-Funded NGM Bio Nabs $200M To Boost Merck’s Metabolic Pipeline
Call it a long, lucrative leash. In a deal announced today, NGM Biopharmaceuticals of South San Francisco, CA, has signed over 15 percent of its equity and potentially much of its preclinical work to Merck & Co. (NYSE: [[ticker:MRK]]), but the arrangement also gives NGM an unusual amount of freedom. Here’s why it’s lucrative: Merck … Continue reading “Well-Funded NGM Bio Nabs $200M To Boost Merck’s Metabolic Pipeline”
Cebix Shuts Down Following Mid-Stage Trial of C-Peptide Drug
San Diego-based Cebix, which raised about $50 million to advance a C-peptide replacement therapy for treating diabetes-related microvascular problems, has quietly folded its tent. Jacob Fuchs, an Xconomy reader and pharmacy student interested in the use of C-peptide as a potential treatment for diabetic patients, recently inquired about the company’s status. In an e-mail, he … Continue reading “Cebix Shuts Down Following Mid-Stage Trial of C-Peptide Drug”
Angel Groups Seek to Assure Entrepreneurs They Are Accredited
The angel investing horror story goes something like this: An entrepreneur publicly solicits seed capital under new securities laws, but accidentally accepts investment from an unaccredited investor. When this violation of JOBS Act rules is discovered, the entire investment round must be rolled back and the money—if there’s any left—returned. It’s the ultimate lose-lose situation. “Everything … Continue reading “Angel Groups Seek to Assure Entrepreneurs They Are Accredited”
UW-Madison IoT Lab Honing its Role Amid Campus Entrepreneurship Push
When a small group of University of Wisconsin-Madison faculty and staff launched a campus lab for developing connected devices just over a year ago, they weren’t sure what kind of response they’d get. Turns out, students are just as intrigued by the budding “Internet of Things” movement as the business world. In each of its … Continue reading “UW-Madison IoT Lab Honing its Role Amid Campus Entrepreneurship Push”
Edtech Companies Weigh In On Obama’s Free Community College Plan
Two years of community college for free? Education watchers and politicos have been debating about that proposal from President Obama since he announced it early this year. Is it worth the estimated $60 billion that would be spent over 10 years by the federal government? Will the America’s College Promise program really help students break … Continue reading “Edtech Companies Weigh In On Obama’s Free Community College Plan”
Yottaa Grows By Helping Customers Boost Website, App Performance
Bad news, marketers and website designers—customers aren’t all that interested in the snazzy features on your websites and mobile apps, like widgets showcasing your clever social media campaign. They just want the page or app to load faster and be easy to navigate, whether they’re using a computer, tablet, or mobile device. That’s the idea … Continue reading “Yottaa Grows By Helping Customers Boost Website, App Performance”
Valeant to Acquire Specialty Pharma Salix in $14.5B Deal
Valeant Pharmaceuticals has reached an agreement to acquire Salix Pharmaceuticals in a cash deal that values the gastrointestinal drug company at $14.5 billion, the companies said Sunday. Under the definitive agreement, Valeant (NYSE: [[ticker:VRX]]) based near Montreal, Canada, will acquire Raleigh, NC-based Salix (NASDAQ: [[ticker:SLXP]]) for $158 per share, a modest premium given the stock’s … Continue reading “Valeant to Acquire Specialty Pharma Salix in $14.5B Deal”
Seattle Roundup: CoCo, Glencoe, StratoScientific, APImetrics, & More
In addition to the $100 million-plus private equity funding for software company K2 and confirmation of Facebook’s plans to grow to 2,000 employees in Seattle, we’re tracking a passel of smaller funding and partnership deals this week, including new investments for CoCo Communications, Glencoe Software, StratoScientific, APImetrics, and Stasys Medical. Also, Zillow closed its acquisition … Continue reading “Seattle Roundup: CoCo, Glencoe, StratoScientific, APImetrics, & More”
Innovation Hub: Meet the Science Evangelist
Ainissa Ramirez says she’s a “Science Evangelist,” and she travels the country to preach her gospel in classrooms. As a result, the former Yale professor hopes to invigorate students, amping up their engagement with everything from nanotech to material science. I talked to her about how you help a generation of kids find their inner … Continue reading “Innovation Hub: Meet the Science Evangelist”
WHO Approves 15-Minute Ebola Test Developed by Corgenix
Doctors who continue to battle the Ebola epidemic that rages on in Africa—even if it’s once again out of the headlines in the U.S.—might be getting a new tool thanks to Corgenix, a medical test maker based outside Denver. On Thursday, the World Health Organization approved Corgenix’s blood test that can diagnose Ebola victims within … Continue reading “WHO Approves 15-Minute Ebola Test Developed by Corgenix”
Conductor Looks to Double Engineering Staff Again with Latest Funding
It seems the fight is still on to become the Web marketing software of choice. New York-based Conductor plans to double its engineering staff this year, says CEO and founder Seth Besmertnik, thanks to a recently raised $27 million Series D round. The company developed a software dashboard that helps marketers with Web search optimization for … Continue reading “Conductor Looks to Double Engineering Staff Again with Latest Funding”
East Coast Biotech Roundup: Vertex, Syndax, Build-to-Buy Deals & More
We’ve got news all across the biotech spectrum this week. From startups raising funding, to up-and-comers pricing (or walking away from) IPOs, to more established companies agreeing to buy up fledglings. Your East Coast headlines below: —Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]) has undergone a transformation from a hepatitis C specialist to the dominant player in cystic … Continue reading “East Coast Biotech Roundup: Vertex, Syndax, Build-to-Buy Deals & More”
Vertex Buys Spine Drug on the QT As Part of Its Post-Hep C Makeover
Vertex Pharmaceuticals is a pillar of Boston biotech. A pioneer of treatments for hepatitis C and more recently, cystic fibrosis, the Boston-based company today is worth more than $27 billion. It’s also going through a transformation—one that may leave the company with a completely different identity a few years from now. Most attention on Vertex … Continue reading “Vertex Buys Spine Drug on the QT As Part of Its Post-Hep C Makeover”
Seragon CEO Rich Heyman Is Going on Hiatus
The moving boxes are stacked in the hallways of San Diego’s Seragon Pharmaceuticals, and that means the end is near for CEO Rich Heyman. He’s fine with that. As Heyman put it, “I’m not going to go operational any time soon.” After selling Seragon to Genentech, the South San Francisco-based unit of Roche, last July … Continue reading “Seragon CEO Rich Heyman Is Going on Hiatus”
As New Sanofi CEO Starts, Viehbacher’s Biotech Fingerprints Abound
After the abrupt firing of former CEO Chris Viehbacher last fall, Sanofi (NYSE: [[ticker:SNY]]) has finally named a new chief executive. The Paris-based global pharma has tapped for the job native Frenchman Olivier Brandicourt (pictured), the current top executive of Bayer Healthcare. On April 2, Brandicourt takes the reins of a company with roughly the … Continue reading “As New Sanofi CEO Starts, Viehbacher’s Biotech Fingerprints Abound”
Electric-Car Battery Maker A123 Sues Apple for Poaching Employees
A123 Systems, an electric-car battery maker, is suing Apple because it believes the computing giant “poached” A123’s employees to help develop a competing large-scale battery business. The complaint (see below) names five of A123’s former employees as defendants in the suit, which was filed Wednesday in Massachusetts federal court, for allegedly breaking noncompete and nonsolicit … Continue reading “Electric-Car Battery Maker A123 Sues Apple for Poaching Employees”
San Antonio’s Evestra Takes $5M Loan for Gynecological Treatments
[Corrected 2/20/15, 11:18 a.m. and updated 1/24/17, 12:54 p.m. See below.] Women’s health-focused biopharmaceutical researcher Evestra is taking a $5 million loan from existing partner Gedeon Richter so that it can further develop a product line that includes contraceptives and other gynecological treatments. The San Antonio, TX, company will use the money to try to … Continue reading “San Antonio’s Evestra Takes $5M Loan for Gynecological Treatments”
Dustin Smith, MIT Media Lab Alum and Startup Founder, Dies at 31
Xconomy is sad to report that Dustin Smith, an artificial-intelligence expert and co-founder of Boston startup Beansprock, has passed away at the age of 31. Smith died unexpectedly on Feb. 14. He had been diagnosed with a heart condition known as hypertrophic obstructive cardiomyopathy (HOCM) more than 10 years ago, but his friends and family … Continue reading “Dustin Smith, MIT Media Lab Alum and Startup Founder, Dies at 31”
West Coast Biotech Roundup: Laguna, SeaGen, Unchained, DME & More
We’ve grouped our items according to topic this week. First come the financings, led by the relocated Laguna Pharma in San Diego. Then comes the clinical and regulatory news, which is topped by the long-awaited results of a government-sponsored trial to compare three different treatments—including two from Genentech—for diabetic macular edema, a type of vision … Continue reading “West Coast Biotech Roundup: Laguna, SeaGen, Unchained, DME & More”
Houston’s Surge Accelerator Debuts New Set of Cleantech Startups
About 400 people packed Underbelly restaurant in Houston’s trendy Montrose district Wednesday to meet the latest startups from the Surge Accelerator’s fourth class. This year’s cohort is the program’s most mature group of startups, in terms of customers and funding already in-hand, since Surge’s founding in 2011. Many of the companies already earn at least … Continue reading “Houston’s Surge Accelerator Debuts New Set of Cleantech Startups”
MagicBook App Transforms Reading into an Active, 3D Endeavor
These days, it seems kids learn how to operate their parents’ iPads before they learn to read—and that can be problematic, says Marjorie Knepp, co-founder of Ann Arbor, MI-based augmented reality startup MagicBook. After all, how can a set of bound pages possibly compare to a gadget that produces colors, sounds, games, cartoons, and movies? … Continue reading “MagicBook App Transforms Reading into an Active, 3D Endeavor”
Fears Percolate as Billion-Dollar Private Company Valuations Climb
There are 73 private companies in the world with valuations of more than $1 billion, up from 40 just one year ago, according to a report published by The Wall Street Journal yesterday. Some of those 40 companies are no longer on the list. Beats, valued in February 2014 at $1.1 billion, was sold to … Continue reading “Fears Percolate as Billion-Dollar Private Company Valuations Climb”
Renaissance Learning’s UClass Purchase Spells Golden Angels Windfall
Renaissance Learning today acquired UClass in a deal that expands the Wisconsin education software company’s capabilities and means a windfall for UClass’s Milwaukee-area investors. Wisconsin Rapids-based Renaissance provides K-12 assessment software and analytics tools to educators in 60 countries, including more than a third of U.S. schools, it says. Founded in 1986, it has grown … Continue reading “Renaissance Learning’s UClass Purchase Spells Golden Angels Windfall”
Under a New Light: MPOWERD Switches to New CEO, Gets New Chair
There has been a change at the top at MPOWERD. Co-founder Jacques-Philippe Piverger is out and Scott Kling has taken over as CEO of the New York-based startup, which develops a line of inflatable, solar powered lights. On Wednesday, MPOWERD put out word that Kling had become its top executive, having previously served as president and chief operating officer. … Continue reading “Under a New Light: MPOWERD Switches to New CEO, Gets New Chair”
Wisconsin Roundup: Epic Systems, WeMontage, Kiva, & More
Here are some of the latest headlines in Wisconsin technology: —Epic Systems plans to open an app store that would allow outside developers and healthtech companies to create apps that integrate with Epic’s health records software, the Wisconsin State Journal reported. The move is notable both because Verona, WI-based Epic is the largest health records … Continue reading “Wisconsin Roundup: Epic Systems, WeMontage, Kiva, & More”
For Life Science Industry, Social Media Takes on New Significance
It seemed like a question out of left field at the time: “How many of you maintain and monitor Twitter, Instagram, Facebook, and Tumblr accounts?” The question was posed by Jeremy Levin, former president and CEO of Teva Pharmaceuticals (NYSE: [[ticker:TEVA]]), and just a few hands went up at the 2014 CED Life Science conference … Continue reading “For Life Science Industry, Social Media Takes on New Significance”