This week is, shall we say, eventful in Boston. There’s the MassChallenge awards gala tonight, something else going on at Fenway, and the MassTLC unConference on Friday. Apart from all that, here’s the news: —Q Factor Communications, a Waltham, MA-based startup working on software to improve video (and other rich media) delivery to smartphones and … Continue reading “Boston Tech Roundup: Narvii, Q Factor, SiteSpect, & More”
Category: National
Avado, NY Digital Health Grad, Snapped up by WebMD
It didn’t take very long for Avado to move from startup accelerator graduate to the arms of a big-name acquirer. Seattle, WA-based Avado, which developed a cloud-based platform that helps clinicians and patients to communicate and manage health information, has been acquired by WebMD (NASDAQ: [[ticker:WBMD]]). Financial terms of the deal weren’t disclosed, but the … Continue reading “Avado, NY Digital Health Grad, Snapped up by WebMD”
Veracyte, Thyroid Cancer Diagnostic Player, Pulls Off IPO
Maybe this biotech IPO boom isn’t just for drug companies after all. South San Francisco-based Veracyte said today it has completed its initial public offering by selling 5 million shares at $13 apiece, raising a total of $65 million. The company’s underwriters have a 30-day option to buy another 750,000 shares, which would increase the … Continue reading “Veracyte, Thyroid Cancer Diagnostic Player, Pulls Off IPO”
Merrimack’s Cancer Drug Misses Mark in Mid-Stage Trial, Shares Tumble
Merrimack Pharmaceuticals has been keeping a close eye on an ongoing series of mid-stage clinical trials of its experimental cancer drug, hoping they will prove its worth to regulators and investors. It released the results from one of those studies today, and the numbers aren’t pretty. Cambridge, MA-based Merrimack (NASDAQ: [[ticker:MACK]]) said today that the … Continue reading “Merrimack’s Cancer Drug Misses Mark in Mid-Stage Trial, Shares Tumble”
Immune Design Grabs $32.5M, Cashing in on Cancer Immunotherapy Rush
Seattle-based Immune Design imagines growing into one of the next big players in immunotherapy for cancer, and today it’s secured some big venture bucks to see if it can deliver the goods. Immune Design is announcing today it has raised $32.5 million in a Series C venture financing that could be worth as much as $49 million if … Continue reading “Immune Design Grabs $32.5M, Cashing in on Cancer Immunotherapy Rush”
Schumer on Privacy & Flint Talks Mobile Payments at Street Fight Summit
Technology really does not get any more intimate than the gadgets carried by a person so it is no surprise that a conference on location-based and hyperlocal services leaned heavily on what’s up in the mobile scene. Last Friday during the two-day Street Fight Summit in New York, mobile payments company Flint announced it raised … Continue reading “Schumer on Privacy & Flint Talks Mobile Payments at Street Fight Summit”
Four Red Flags for Digital Health Investors
It’s been a banner year for startups raising money to start digital and mobile health businesses—enough to spark a recent Time magazine article called “The Obamacare Start-Up Boom.” Here in San Francisco, it seems the number of job applicants my own digital heatlh company receives, as well as the number of attendees at health technology … Continue reading “Four Red Flags for Digital Health Investors”
Tableau Software Continues Rapid Sales, Expenses Growth in Q3
Seattle big data visualization company Tableau Software increased third-quarter revenue 90 percent year-over-year to $61.1 million, and posted a $2.4 million profit. That performance hasn’t yet made up for losses earlier this year: Tableau (NYSE: [[ticker:DATA]]) is running nearly $4.2 million in the red for the first nine months of 2013. Tableau management are betting heavily … Continue reading “Tableau Software Continues Rapid Sales, Expenses Growth in Q3”
Nobels and $125M Exits: Report Tells Tales of Two Colorado Startups
A startup commercializing Nobel Prize-winning research and the software startup that kicked off Colorado’s year of $100 million-plus exits were highlighted in a new report released today by the Science Coalition, a nonprofit dedicated to getting the federal government to increase support for basic scientific research. LineRate Systems and ColdQuanta both received support from the … Continue reading “Nobels and $125M Exits: Report Tells Tales of Two Colorado Startups”
Three Funding Terms Every Startup Should Understand
We’ve seen tremendous growth in the number of new startups in recent years, but the pool of VC funding is not keeping pace with this growth. This can put cash-starved startups at a disadvantage when it comes to negotiating company-favorable investment terms from VCs. But regardless of how eager founders may be to secure the … Continue reading “Three Funding Terms Every Startup Should Understand”
Austin’s Boxer Raises $3M in Quest to Better Manage E-mail
The information overload of e-mail is here to stay. Austin startup Boxer says it can help process the messages better. Boxer, which recently raised $3 million in seed funding, focuses on mobile mail, the e-mail we receive through our smartphones. It makes sense, since we are now more likely to access messages via our phones … Continue reading “Austin’s Boxer Raises $3M in Quest to Better Manage E-mail”
U-M Logs Record Number of Inventions, Names Med School Innovation Chief
About a year ago, the University of Michigan made a decision to focus on “encouraging and motivating” faculty to submit high-value ideas about new technology or inventions that could one day lead to commercialization, according Ken Nisbet, who directs the university’s Office of Tech Transfer (OTT). The university felt it had a lot of untapped … Continue reading “U-M Logs Record Number of Inventions, Names Med School Innovation Chief”
Calithera BioSciences Nabs $35M for Cancer Drugs
South San Francisco-based Calithera Biosciences has just raised a lot more money to add its name to the list of companies that hope to fight tumors by starving them to death. The company said today it has raised $35 million in a Series D venture financing. Adage Capital Partners led the deal, and was joined … Continue reading “Calithera BioSciences Nabs $35M for Cancer Drugs”
Harvest Automation Hauls In $11.75M More to Advance Ag Robots
Score one for the Boston robotics scene. And for the future of agricultural robots. Harvest Automation, the pride of North Billerica, MA, has raised $11.75 million in Series C funding led by Mousse Partners Limited of New York. Harvest’s previous investors, which include Life Sciences Partners, Cultivian Ventures Founder Collective, and MassVentures, also participated in … Continue reading “Harvest Automation Hauls In $11.75M More to Advance Ag Robots”
Mitek Introduces Mobile Imaging App to Switch Credit Card Accounts
After introducing mobile check deposit technology in 2008, and mobile bill payment in 2012, San Diego’s Mitek Systems (NASDAQ: [[ticker:MITK]]) is striking into some interesting (virtual) territory by expanding its core technology to enable customers to switch credit card accounts by simply snapping a picture of their statement and sending it to another bank. The … Continue reading “Mitek Introduces Mobile Imaging App to Switch Credit Card Accounts”
Meet the Unsung Angels of Silicon Valley
There’s lots of talk among Silicon Valley entrepreneurs about the importance of finding “smart money”—the venture and angel investors whose sheer acumen supposedly allows them to outperform the market and shepherd startups to success. Trouble is, venture returns for the last 10 years actually lag behind those of the broader S&P 500. The average venture … Continue reading “Meet the Unsung Angels of Silicon Valley”
Vertex Cuts 15% of Workforce as Hepatitis C Drug Sales Drop
Vertex Pharmaceuticals had a brief moment in the sun with its hepatitis C drug, and now that it’s coming to an end, the company is making some big job cuts. Cambridge, MA-based Vertex (NASDAQ: [[ticker:VRTX]]) said today it is cutting 370 jobs, about 15 percent of its workforce, after a dismal third-quarter sales performance for … Continue reading “Vertex Cuts 15% of Workforce as Hepatitis C Drug Sales Drop”
Frazier Healthcare Adds Carol Gallagher as Venture Partner
Carol Gallagher made a lot of money for Frazier Healthcare Ventures by leading of one of its portfolio companies, and now she’s going to see if she can help the firm in a new way. Gallagher, the former CEO of Seattle-based Calistoga Pharmaceuticals, a Frazier investment sold to Gilead Sciences for up to $600 million … Continue reading “Frazier Healthcare Adds Carol Gallagher as Venture Partner”
Webroot Secures Future by Moving Consumer Anti-Malware Suite to Cloud
A few years back, the team at Webroot, a company that makes Internet security software, was at a crossroads. Webroot was founded in Boulder, CO, in 1997 and had carved out a niche for itself in the consumer network security market during the mid-2000s with its product, Spy Sweeper. The software was among the most … Continue reading “Webroot Secures Future by Moving Consumer Anti-Malware Suite to Cloud”
SnakBlox, Out of Stealth, Measures Social Data for Hearst Digital
There must be a way to get tons more customers by marketing across social media—at least that is what many brands hope for as they double down on this sector. New York-based SnakBlox says its technology puts dollar signs on “likes,” social impressions, and app installations. The company emerged from stealth late last week with … Continue reading “SnakBlox, Out of Stealth, Measures Social Data for Hearst Digital”
Bristol-Myers, Alder Drug for Rheumatoid Arthritis Passes Key Test
Four years ago, the CEO of Bothell, WA-based Alder Biopharmaceuticals declared that his company’s experimental rheumatoid arthritis drug would someday give multibillion-dollar products from Amgen and AbbVie a “run for their money.” Today, some more clinical trial data trickled out to suggest that Alder’s partner, Bristol-Myers Squibb, is maneuvering into a position to compete in … Continue reading “Bristol-Myers, Alder Drug for Rheumatoid Arthritis Passes Key Test”
Red Sox Nutritionist on Sports, Stress, & Segterra (and World Series)
Like a lot of people in New England, Tara Mardigan didn’t get much sleep Sunday night. “It’s 1 a.m. and you’re still thinking about Jonny Gomes sending it out of the park,” she says. (The dramatic home run pushed the Red Sox to a 4-2 victory over St. Louis, tying the World Series at two … Continue reading “Red Sox Nutritionist on Sports, Stress, & Segterra (and World Series)”
300 I-Corps Teams in Two Years
This is the start of the third year teaching teams of scientists (professors and their graduate students) in the National Science Foundation Innovation Corps (I-Corps). This month we’ve crossed ~300 teams in the first two years through the program. I-Corps is the accelerator that helps scientists bridge the commercialization gap between their research in their … Continue reading “300 I-Corps Teams in Two Years”
Google Ventures, Andreessen-Backed Openbay Aims to Fix Car Repair
It seems like there are a million little small-business headaches that haven’t been solved by the Internet quite yet. There’s a good reason for that—signing up small businesses can be a serious slog, even aside from the structural problems of building a two-sided marketplace where you bring together buyers and sellers. But eventually, you have … Continue reading “Google Ventures, Andreessen-Backed Openbay Aims to Fix Car Repair”
The Biggest Bargains Pharma Scooped Up in the Down Years
Most little biotech companies, until this year’s IPO boom, couldn’t seriously think about raising money from public investors. Most couldn’t raise big venture dollars from an ever-shrinking pool of VCs. The pool of potential partners and buyers in Big Pharma was shrinking, too, because mega-mergers reduced the number of potential bidders. With cash running low … Continue reading “The Biggest Bargains Pharma Scooped Up in the Down Years”
Report: Dendreon Looking to Get Acquired
Dendreon is apparently crying uncle, and seeking some other company to take it over. The Seattle-based pioneer of cancer immunotherapy (NASDAQ: [[ticker:DNDN]]) is working with JP Morgan to find someone to buy the company, according a report Friday by Bloomberg News, which cited anonymous sources. Representatives for both Dendreon and JP Morgan declined to comment … Continue reading “Report: Dendreon Looking to Get Acquired”
From Flybridge to Foundation: Michael Greeley Talks VC Transition
Seismic shifts are occurring in the venture capital world. Here in Boston, the tectonic plates of healthcare and software/IT funds just moved a little farther apart. Longtime healthcare technology VC Michael Greeley is leaving Flybridge Capital Partners, the firm he co-founded in 2001 (as IDG Ventures Atlantic), to join Foundation Medical Partners, a Connecticut-based venture … Continue reading “From Flybridge to Foundation: Michael Greeley Talks VC Transition”
San Diego Life Sciences Roundup: Illumina, Mirati, Auspex, and More
Some big news over the last week came from the Scripps Translational Science Institute, which successfully renewed its grant from the National Institutes of Health. We have details, along with a rundown of other news. —The Scripps Translational Science Institute said it is getting $29 million over the next five years to continue its work … Continue reading “San Diego Life Sciences Roundup: Illumina, Mirati, Auspex, and More”
Boston Roundup: Sqrrl, Panorama, Superpedestrian, Threat Stack, & More
[Updated 11:25 am] We’ve got a flurry of fundraising news to round out the week, along with word of some venture partner departures: —Sqrrl, a secure database software company founded by former National Security Agency computer scientists, has raised $5.2 million in Series A financing. The investment was led by Atlas Venture and Matrix Partners, … Continue reading “Boston Roundup: Sqrrl, Panorama, Superpedestrian, Threat Stack, & More”
Aerie Gets Lukewarm Reception, Cuts IPO Price to $10 Per Share
Aerie Pharmaceuticals wanted a $68 million haul when it set the price range for its IPO last week. It came close to that number, but it had to do some tinkering to get there. Bedminster, NJ-based Aerie priced its IPO, selling investors 6.72 million shares at $10 apiece and raising about $67.2 million before discounts … Continue reading “Aerie Gets Lukewarm Reception, Cuts IPO Price to $10 Per Share”
East Coast Biotech Roundup: Pronutria, Alzheon, Nextcode, & More
The headline of the year in biotech has been IPOs. But this week, the news centered around a bunch of companies at the other end of the journey from startup to public company, those just coming out of the woodwork. Those stories and more below: —Cambridge, MA-based Pronutria emerged from stealth mode this week. Flagship … Continue reading “East Coast Biotech Roundup: Pronutria, Alzheon, Nextcode, & More”
BuzzFeed, and 4 More Bad Startup Ideas that Look Like Good Ideas
Y Combinator staged its annual Startup School event last Saturday, attracting more than 1,700 young startup founders and would-be founders. Andreessen Horowitz partner (and Xconomist) Chris Dixon, the founder of Web startups SiteAdvisor (sold to McAfee) and Hunch (sold to eBay), gave one of the most interesting talks, under the title “Good Ideas That Look Like Bad … Continue reading “BuzzFeed, and 4 More Bad Startup Ideas that Look Like Good Ideas”
Paul Hastings, Adelene Perkins Join Xconomy Biotech Event Dec. 9
One of the biggest business books of the ‘90s was “Built to Last: Successful Habits of Visionary Companies” by James Collins and Jerry Porras. Many biotech companies today don’t dare dream that big anymore, but some do. Some are even being rewarded for their long-term vision by investors. What’s their secret? Questions like that are … Continue reading “Paul Hastings, Adelene Perkins Join Xconomy Biotech Event Dec. 9”
What Can Washington Do to Revitalize Biotech? Q&A With Gov. Inslee
Seattle biotech isn’t what it used to be. A decade ago, Seattle was basking in the glory of one of the biggest pharmaceutical success stories ever—etanercept (Enbrel). The region was home to what you could call five major league life sciences companies. I’m talking about locally grown biotech companies with big dreams, a strong foundation … Continue reading “What Can Washington Do to Revitalize Biotech? Q&A With Gov. Inslee”
In New Regulatory World, Techstars Seattle is Cautious on Demo Day
Like other startup accelerators, Techstars Seattle is treading carefully around new SEC regulations on general solicitation with its 2013 Demo Day. Managing director Andy Sack notes that he usually implores the audience “to get your checkbooks out” at this annual culmination of the top-tier, three-month “entrepreneurship boot camp.” “Due to some recent regulatory changes, if … Continue reading “In New Regulatory World, Techstars Seattle is Cautious on Demo Day”
Slideshow: Nathan Myhrvold’s Food Photography Obsession on Display
If you enjoy snapping the occasional picture of what you’ve made for dinner, great! You have something in common with Seattle tech mogul and gastronaut Nathan Myhrvold. Your pictures probably aren’t in a museum, though. An exhibition of photography from Myhrvold’s landmark 2011 Modernist Cuisine cookbook and the follow-up Modernist Cuisine at Home opens this … Continue reading “Slideshow: Nathan Myhrvold’s Food Photography Obsession on Display”
U-M Unveils Automated Vehicle Test Site, Collaborative Battery Lab
Yesterday, the University of Michigan announced it will construct an automated vehicle test environment on 30 acres at its North Campus Research Complex. The $6.5 million test environment, which is expected to be completed by fall of 2014, will include approximately three miles of roads with intersections, traffic signs and signals; sidewalks; benches; simulated buildings; … Continue reading “U-M Unveils Automated Vehicle Test Site, Collaborative Battery Lab”
Houston’s Alert Logic Thrives Bringing Security to the Cloud
Insecurity in the cloud is big business for Alert Logic. The company, whose niche is “security-as-a-service,” had about a dozen employees and less than $2 million in annual revenue when it received its first venture funding in 2005. Today, Alert Logic dominates the U.S. cloud security market, taking in almost $50 million a year, and … Continue reading “Houston’s Alert Logic Thrives Bringing Security to the Cloud”
WBT Conference Draws Eclectic Innovation Mix, San Diego Included
Can innovation come in more than one flavor? We have become so accustomed to the Silicon Valley way of doing things that it’s easy to forget that ingenuity engenders a million flowers to bloom. The WBT Innovation Marketplace, an annual tech conference that moved to from Texas to San Diego last year, provides a stage … Continue reading “WBT Conference Draws Eclectic Innovation Mix, San Diego Included”
Cleaning Houses and Content Recommendation Get Funding in New York
A couple of deals have perked up this week among New York-based startups in digital media and dirty jobs. Content recommendation platform Outbrain announced Wednesday it raised $35 million in a round led by HarbourVest. Others participating in the round include new backer Vintage Partners and existing investors Index Ventures, Carmel Ventures, GlenRock Israel, Gemini … Continue reading “Cleaning Houses and Content Recommendation Get Funding in New York”
Marginized No More: Nextly Wants to Be Your Guide to Web Content
After a proverbial pivot, Ziad Sultan is back on the trail, looking to harness the social Web to help people browse information more efficiently. The founder of Cambridge, MA-based Marginize has morphed his company into a new entity. It’s called Nextly, and it has raised $1.5 million from Sultan’s previous investors (on top of about … Continue reading “Marginized No More: Nextly Wants to Be Your Guide to Web Content”
Diagnostic Firm diaDexus Awaits Possible Boom from Glaxo Trials
Medical researchers often find tantalizing hints about the causes of disease when they spot biomolecules that seem to be closely associated with the onset of an illness—like the amyloid plaques seen in the brains of people with Alzheimer’s disease. Pharmaceutical companies often run with those hints, creating experimental drugs targeted at those suspect biomolecules. But … Continue reading “Diagnostic Firm diaDexus Awaits Possible Boom from Glaxo Trials”
Amid Lawsuit Settlement Talks, Formlabs Raises $19M
It looks like 3D printing startup Formlabs could be nearing the end of its time stuck in legal limbo. The Somerville, MA-based company—one of the more notable names in the latest wave of cheaper 3D printing—has significantly added to its bank account with a $19 million private investment. That infusion of cash comes amid a … Continue reading “Amid Lawsuit Settlement Talks, Formlabs Raises $19M”
Andy Ory Leaves Oracle, Talks Thinking Phones & Acme Packet Sale
Andy Ory has surfaced at last. The wildly successful tech entrepreneur, he of Acme Packet CEO fame, has left Oracle as of the end of August and is taking what he calls a “sabbatical” of six to nine months to recharge and get ready for the next big thing. In case you forgot, Bedford, MA-based … Continue reading “Andy Ory Leaves Oracle, Talks Thinking Phones & Acme Packet Sale”
Denver’s Convercent Closes $10M Series B Round Led by SAP Ventures
Convercent, a Denver-based startup, announced today it has raised a $10 million Series B round. The startup is developing cloud-based software for companies looking to improve governance, risk management, and compliance procedures. SAP Ventures led the round and managing director Doug Higgins will join Convercent’s board. The investment in Convercent is the first investment SAP … Continue reading “Denver’s Convercent Closes $10M Series B Round Led by SAP Ventures”
Roundup: WhitePages, Contour, 9Mile Labs, Blue Rooster, Dwellable
It’s a busy week for startups in Seattle. Some of the news that has caught our attention lately: WhitePages’ buyout of its VC investors; the apparent revival of action-sports camera maker Contour; 9Mile Labs opening applications for its second cohort; Blue Rooster’s $3 million raise; and a strong coming out for vacation rentals startup Dwellable. … Continue reading “Roundup: WhitePages, Contour, 9Mile Labs, Blue Rooster, Dwellable”
DeCode Spinout, NextCode Health, Launches With $15M From Arch, Polaris
Arch Venture Partners and Polaris Partners got a windfall when they snatched deCode Genetics out of bankruptcy and flipped it to Amgen (NASDAQ: [[ticker:AMGN]]) for $415 million a few years later. Now the two VC firms think there’s still more value in the genomics platform deCode assembled, and have helped form a new startup, NextCode … Continue reading “DeCode Spinout, NextCode Health, Launches With $15M From Arch, Polaris”
North Bridge Gets $580M for Second Growth Equity Fund
[Corrected headline dollar figure] Waltham, MA-based North Bridge Growth Equity has raised a second fund, saying it has more than $580 million in committed cash to bankroll growing companies that have a technology focus. North Bridge’s growth equity arm got its start with a $545 million fund, which was raised in 2007. It lists 12 portfolio companies … Continue reading “North Bridge Gets $580M for Second Growth Equity Fund”
Buzzcar’s Robin Chase Drops by Springboard’s Opening Night in New York
When Robin Chase comes to town, expect lessons in influence and driving change in executive leadership. Chase—the co-founder of Zipcar and founder of Buzzcar—spoke last night at a reception in New York ahead of Wednesday’s Springboard Annual Forum. Addressing the women-led media and tech startups that graduated from the Springboard Enterprises accelerator, Chase offered a … Continue reading “Buzzcar’s Robin Chase Drops by Springboard’s Opening Night in New York”
Embarke, Home from Seattle, Gets $1.25M to Make E-mail Work Better
Last year at this time, Embarke co-founders Al Bsharah and Bryan Hall were working long hours in the Techstars/Microsoft accelerator, a startup crucible in Seattle established under a partnership between the software giant and the Boulder, CO-based startup program. Strengthened by the experience, Bsharah tells me the two-year-old startup has now closed on a $1.25 … Continue reading “Embarke, Home from Seattle, Gets $1.25M to Make E-mail Work Better”