Funding

Testive Announces $500k Bridge Round of Funding

Testive, an edtech company that makes an online platform to improve standardized test scores, announced today that it has closed a bridge round of $500k to expand marketing and sales outreach to parents, students, and guidance counselors.

Developed at MIT by co-founders Tom Rose and Miro Kazakoff and launched in 2011, Testive’s software uses adaptive learning algorithms to identify student strengths and weaknesses and generates responsive questions at the appropriate difficulty level to build students’ key skills rapidly. “It’s like lifting the right weights at the gym,” said Testive Co-Founder and CEO Tom Rose, “it makes students stronger, faster.” READ MORE

 

Kaminario Raises Additional $15M

Kaminario has Raised an Additional $15M to its previous round of $53 Million.

Kaminario, the leading all-flash array storage provider for midrange enterprises, today announced it has achieved more than 100% quarter-over-quarter growth in bookings in Q4 2014, with the majority of customers choosing to expand their implementations following initial purchase. Kaminario also announced it has raised an additional $15 million toward its recently oversubscribed round of $53 million in December due to strong demand from investors. The company’s total funding now stands at $143M.

“Kaminario is at the leading edge of a revolution in storage,” said Brian Abrams, Partner at Lazarus, a US-based hedge fund. “More companies than ever are looking to implement flash in their data centers, and Kaminario’s all-flash array offers an unprecedented combination of value and performance. This funding round strongly positions Kaminario to capitalize on its recent progress and grow exponentially in the months and years ahead.” READ MORE

 

CloudHealth Technologies Secures $12 Million in Series B Funding

CloudHealth Technologies, the pioneer in IT service management for the cloud, announced today it has secured $12 million in series B funding, led by Silicon Valley-based Scale Venture Partners. Existing investors .406 Ventures, and Sigma Prime Ventures also participated in the round. As part of the funding round, Ariel Tseitlin, Partner with Scale Venture Partners, will be joining CloudHealth’s board of directors. On the heels of exceeding 100% quarter over quarter growth in 2014, CloudHealth Technologies will be using the funds to support the company’s rapid customer adoption, CloudHealth platform enhancements, expansion of services and increased hiring tied to engineering and sales.

“Enterprise and technology companies on a global scale are turning to the truly disruptive, utility-based cloud computing model. However, these same companies face challenges due to the increased complexity of managing cloud-based services that are magnified by the newly-enabled rapid rate of change. Traditional IT management tools just don’t work in this new model. Managing a cloud ecosystem with an eye toward maximizing the investment presents a real challenge,” said Partner Ariel Tseitlin of Scale Venture Partners. “CloudHealth is the first company to develop and scale a platform that enables ITSM for this very significant market, making it the leader in the space and an ideal investment for Scale Venture Partners. I am excited to join the CloudHealth Technologies board as they transform the way companies manage their cloud environments.” READ MORE


VMTurbo Raises $50 Million

VMTurbo, the only real-time demand-driven control platform for the software-defined universe, today announced its 18th consecutive record quarter, capping 2014 with revenue growth of 126% year-over-year. Along with strong revenue growth, VMTurbo increased its employee base by 126% and relocated company headquarters to Copley Square in Boston.

A new round of investment led by ICONIQ Capital raised $50 million for continued new product development and company growth. With more than 1,000 customers, including many of the world’s leading money center banks, financial institutions, social and e-commerce sites, carriers and service providers, VMTurbo was proud to grow its customer base in 2014 to include Salesforce.com, Thomson Reuters, Tribune Publishing, Cablevision and Rogers Communications. READ MORE

Jibo, Inc., Raises $25.3M in Series A Financing

Executive Chairman Steve Chambers Takes on the Role of CEO as Founder Cynthia Breazeal Becomes Chief Scientist

Jibo, Inc., the company behind Jibo -- the first family robot -- today announced $25.3M in Series A financing, led by RRE Ventures. Participating existing investor CRV, also the lead seed investor, and existing investors Fairhaven and Osage University Partners join new investors RRE, Flybridge Capital Partners, Two Sigma Ventures, Formation 8, Samsung Ventures and original angel investor, the Pagliuca Family Group, in the round. 

"Jibo is a natural fit for RRE Ventures," said RRE Ventures Co-founder and Managing Partner Stuart Ellman. "RRE has a long history of discovering category-defining companies in emerging industries and supporting their visionary founders. BuzzFeed in Content 2.0. Makerbot in 3D printing. Venmo in peer-to-peer payments. These ideas seemed crazy at the time. But crazy is a beautiful word at RRE; what's crazy today is in your home tomorrow. That's Jibo." READ MORE

 
Driftt Raises $15M

As reported by Scott Kirsner and BetaBoston, Driftt, the startup out to help people like you work better together - anywhere, anytime, on any device, has raised $15 Million. READ MORE

QD Vision Lands $28M in Funding

As reported by Boston Business Journal, QD Vision, Inc., a nanomaterials product company delivering advanced display and lighting solutions that provide unparalleled color and cost savings, recently raised $28 million in funding from existing investors that included North Bridge and Highland Capital, among others. READ MORE

 

 

True Fit Raises $15M

True Fit, a Woburn, Mass.-based retail SaaS company allowing consumers to discover apparel and footwear styles that fit, raised $15m in equity funding.

The round was led by Signal Peak Ventures, Promus Ventures and Jump Capital, with participation from existing investors Guggenheim Partners, Breakaway Ventures and Novel TMT. READ MORE

Excel Venture Management Invests in Qstream

Qstream, providers of a mobile enterprise application for managing the human side of sales acceleration, today announced that the company has closed an additional $4 million in venture funding from new investor Excel Venture Management, with participation from existing Qstream investors Frontline Ventures and Launchpad Venture Group.   The new funds represent the second tranche of a $6.85 million Series A financing, which includes $2.85 million closed in September 2013.

The funding will be used to accelerate the company’s expansion in the estimated $2 billion predictive analytics sector, where Qstream combines the power of mobile, gamification and big data to deliver a new class of business intelligence that helps sales managers quickly and proactively align the behaviors of their sales people with growth initiatives. READ MORE

 

peerTransfer Secures $22M

peerTransfer, the leading provider of global payment solutions for the education industry, closed $22 million in new funding this week. Bain Capital Ventures led the round, with participation from prior investors including Spark Capital, Devonshire Investors, Accel Partners, and QED Investors.

The additional capital will be used to accelerate international growth, expand coverage and penetration at U.S. colleges and universities, and advance the company’s innovative cross-border payment platform. READ MORE

 

MediSafe Raises $6 Million

MediSafe™, the leading global medication management platform with over 1.3 million mobile downloads across iOS and Android smartphones and tablets, announced today that it has raised a $6 million Series A Round led by Pitango Venture Capital. Others participating in the round include 7wire ventures, as well as investors from previous rounds, including lool Ventures, TriVentures and Eyal Gura.

MediSafe’s mobile-first approach involves creating personalized interventions to the major causes of non-adherence – forgetfulness, lack of support, emotional distress, information overload, low engagement, and rising medication costs. Through its platform, the company is enabling tighter care coordination between patients, caregivers or “MedFriends,” physicians, and other providers. READ MORE

OpportunitySpace Secures $500,000 Seed Round

The founding team at OpportunitySpace is thrilled to announce that we have secured $500,000 of our first outside funding for our seed round from a diverse set of real estate industry related investors.  OpportunitySpace is an online marketplace for urban development opportunities (www.opportunityspace.org). Our team works in close partnership with city and town governments as well as other public entities to identify and drive creative redevelopment to undervalued property in urban areas.


OpportunitySpace CEO Alexander Kapur says, “Our funding validates the investment potential in the surging real estate and public sector technology verticals. More broadly, it signals strong support for ventures that are solving urban issues, such as disinvested real estate. We hope this inspires entrepreneurs and investors who are pushing innovation for cities and towns.” READ MORE

 

Accion Systems Inc. raises $2M

Accion Systems, a startup printing advanced propulsion systems, raises $2MM from FF Science, RRE Ventures, Founder Collective, and others to develop its first product and begin filling pre-orders.

Accion Systems Inc. announces a $2MM seed round to support product development and initial sales of its ion electrospray propulsion technology. The round was led by FF Science and included RRE Ventures, SDF Ventures, Founder Collective, Galvanize Ventures, Samuel Lessin, Slow Ventures, Tim Tokarsky, Rene Reinsberg, Marek Oszlewski, GettyLab and TechU Angels.


Accion develops advanced electric propulsion systems that provide critical capabilities for small satellites. Over the past year, the team has started taking pre-orders for their first product, which is in development and will launch later in 2015. Accion CEO and founder Natalya Brikner says “our unique propellants and novel manufacturing techniques let us break from slow, expensive aerospace tradition and leverage advances in areas like 3D printing and nanofabrication”. READ MORE

 

Sense Labs Raises $2.5M

According to SEC filings Sense Labs of Cambridge Raises $2.5M. READ MORE

Jana Raises $12.5 Million

According to SEC Filings, Jana, a mobile technology platform that connects emerging market consumers with global brands using mobile airtime, has raised $12.5 Million. READ MORE

eRecruit Raises $12M

According to SEC filings, eRecruit, the leading innovator in enterprise staffing software, VMS and onboarding solutions for large staffing firms and employers, has raised $12 Million in funding. READ MORE

Reddo Mobility Secures Additional $4.25M in Funding

Reddo to expand development and commercialization of platform for extending virtualized Windows desktop applications to mobile


Reddo Mobility announced today that it has raised an additional $4.25M in funding from new and existing investors. The additional funding will be used to bolster engineering, sales, and marketing for the company as it continues to commercialize its platform launched in September 2014. In addition to a new strategic partner, past investors Atlas Venture, IVIC, and Citrix also participated in the new round of financing.

The Reddo platform is based on a unique Mobile Experience Virtualization technology. It dynamically links a Windows Desktop application interface to a virtual user interface that is optimized for smartphone or tablet use.  Companies that deliver line-of-business applications on virtual desktop infrastructure can leverage Reddo to mobilize enterprise apps without the time, expense, and risk associated with mobile app development.  The Reddo platform lets businesses rapidly design mobile-optimized interfaces for existing Windows desktop applications with no coding or scripting. READ MORE

 

SolarWinds Invests in AppNeta

AppNeta, the technology leader of Full Stack Application Performance Management (APM) solutions, announced today a strategic partnership with SolarWinds® (NYSE: SWI), an IT management leader serving over 150,000 customers worldwide including small to medium sized businesses and 425 of the Fortune 500 companies. Through AppNeta’s innovative, cloud-based approach to performance management, and through SolarWinds’ investment in AppNeta, the two companies will explore opportunities to meaningfully connect IT infrastructure to application delivery to drive an improvement in the overall performance and value of mission-critical business applications...  READ MORE

Rethink Robotics Announces $26.6 Million Series D Round of Financing

Rethink Robotics today announced $26.6 million in Series D financing, led by GE Ventures, with additional participation from Goldman Sachs, both new investors. All of Rethink Robotics’ earlier investors are also participating in the round, including Bezos Expeditions, CRV, Highland Capital Partners, Sigma Partners, Draper Fisher Jurvetson, and Two Sigma Ventures. The funding will be used to support the company’s continued innovation, growth, and international expansion, and reflects Rethink Robotics’ position as a leader in the emerging market of collaborative robotics. This new investment brings the company’s total funding to more than $100 million since its founding in 2008.

“Our customers are building the factories of the future, and our technologies have become an important part of their efforts,” said Scott Eckert, President and CEO at Rethink Robotics. “Our new and existing investors recognize the enormous market potential for smart, collaborative robots in manufacturing, and they share our vision for driving ongoing product innovation, volume deployments and continued expansion into global markets.”


Learn more about Rethink Robotics on their VentureFizz BIZZpage!

par8o Announces $10.5 Million in Series A Funding

par8o, Healthcare’s Operating System, today announced $10.5 million in Series A funding from Atlas VentureFounder CollectiveCHV Capital and other investors. Since the company’s founding in 2012, a growing and diverse list of organizations have adopted the par8o platform, including the largest employer in the State of Nevada, MGM Resorts, and several pre-eminent academic medical centers, including Harvard Medical School affiliated hospitals in Boston and facilities that are part of the Mount Sinai Health System in New York.

Started by the physicians who founded SERMO, the largest on-line physician community in the world, par8o traces its roots back to the on-line discussions around the Affordable Care Act (ACA). Even then, physicians recognized that success in the new era of healthcare would require a new approach to matching the right patient to the right resource at the right time. The par8o Healthcare Operating System allows healthcare organizations to optimize their networks of providers and other resources to deliver quality care by applying one of the most powerful and proven principles in economics: Pareto Optimization. This approach, and the EMR-agnostic technologies par8o has developed to implement it, are well-suited to the complex, multi-constituency nature of healthcare because they achieve continuous efficiency improvements while balancing the needs of all parties. READ MORE

NewSpring Capital Invests in SiteSpect

NewSpring Capital, a family of private equity funds, announced today that NewSpring Growth Capital, the firm's dedicated technology and business services growth equity fund, has invested $13 million in a minority financing in SiteSpect, Inc. ("SiteSpect").  This represents the Fund's sixth deal of 2014 as a closing was held on December 29, 2014.

This is the first outside funding received by the A/B and multivariate testing provider that incorporated in 2004.  Since its founding, SiteSpect has been a recognized leader with its unique SaaS-based optimization technology that enables marketers, product managers and developers to test and optimize the entire digital user experience and increase revenue.  Backed by a strong executive team and unique, patented technology, SiteSpect provides the only true enterprise-grade A/B and multivariate testing platform to the world's largest and most successful online brands. READ MORE

 

CampusTap Closes Seed Round

Today, CampusTap (www.thecampustap.com), the private social platform for colleges, announced that they have fulfilled their 500K seed round of funding. The round was led by several Boston angel investors including Douglas Leighton at Dutchess Capital and Bob DeMaria, Partner at Rally Software. The funds will be used for product development and team expansion in engineering to support their upcoming mobile application.

CampusTap was founded in 2013 by Remy Carpinito with a vision to bridge the gap between on-campus activities and job placement. Discovering that career development occurs earlier in the student lifecycle, the platform tracks on-campus interactions the second they set foot on campus. “By understanding the students better, our dynamic recommendations engine can hyper target them with relevant internships and jobs enhancing career services efforts” said CEO and Founder, Remy Carpinito... READ MORE

 

Swoop Raises $2.1M

As reported by Sara Castellanos at Boston Business Journal, Swoop, a Cambridge-based adtech firm, has raised $2.1 million from six undisclosed investors, according to a Dec. 22 regulatory filing with the U.S. Securities and Exchange Commission. READ MORE



Qualtré Secures $9M Strategic Investment Round

Qualtré, Inc., the leading innovator of Bulk Acoustic Wave (BAW) silicon MEMS inertial sensors, today announced $9 million in funding from two strategic partners, including Alps Electric, along with current investors, Matrix Partners and Pilot House Ventures. Qualtré will use these funds to expand sales and marketing, scale operations, and extend product development as the company supports new customers and additional applications.

“Qualtré launched two BAW MEMS gyroscopes in 2014 with strong customer acceptance,” commented Edgar Masri, President and CEO of Qualtré. “These robust gyros offer higher accuracy with superior shock and vibration immunity at competitive price points. This makes them ideal for the challenging demands and harsh environments of industrial and high-performance consumer applications, such as inertial navigation, platform stabilization, robotics, unmanned vehicles, sports measurement, medical wearables, and the Internet of Things.” READ MORE

 

Salsify Raises $8M in Funding

Salsify, the cloud-based content management for e-commerce company, announced this morning that they have raised $8 million in a Series A round of funding from Matrix Partners and North Bridge Venture Partners.

The company's SaaS product enables enterprises to share a wide array of different content through a cloud-based network, allowing for data, pictures, and written content to be exchanged more easily in the high-paced world of e-commerce... READ MORE

Rapid7 Receives $30 Million Investment

Rapid7, a leading provider of security analytics software and services, today announced that it has received $30 million in additional funds from its long-standing investors, Bain Capital and Technology Crossover Ventures (TCV). The stockholders increased their investment in Rapid7 to enable the Company to maximize on the incredible growth opportunity presented by its latest innovative technology and strategic security services, which help customers radically improve security incident detection and speed response, and build better enterprise security programs. Interest in these offerings has been so compelling that Rapid7's leadership and investors capitalized on a timely opportunity to further the development of the solution and market while continuing to drive innovation in the Company's core threat exposure management portfolio. 

"At Rapid7, we design our products and services with a relentless focus on making it easier for enterprise customers and organizations to execute effective security programs. We believe companies can be successful in security without slowing down their business," said Corey Thomas, president and CEO of Rapid7. "This infusion of funds will enable us to capitalize on the tremendous growth and success we have seen this year by accelerating our leadership, market share, and development in intruder analytics and services, while continuing to innovate to better serve our existing customer base." READ MORE

Adelphic Secures $11M Series B Funding

Adelphic, a leading mobile advertising demand-side platform (DSP), announced today that it has secured $11 million Series B funding that will enable the company to capitalize on the explosive growth in the programmatic advertising space. This round of funding was led by Blue Chip Venture Company, along with participation from current investors Matrix Partners and Google Ventures.

The advertising landscape is changing – 80 percent of digital advertising spend will switch to programmatic by 2017. Adelphic is a leading architect of this shift. The company’s patented technology has brought true programmatic buying to mobile at a scale and effectiveness not previously seen in mobile and, in so doing, has become the preferred mobile DSP for many of the world’s leading agencies and trading desks. READ MORE

 

Freight Farms Receives Investment from Spark Capital

We’ve got some big news! We’re thrilled to announce Freight Farms is now partnering with Spark Capital, and it couldn’t be a better match. We believe in utilizing design and technology to challenge the status quo while simultaneously inspiring change… and so does Spark!

Here at Freight Farms, our mission is to create a more sustainable and connected food system by providing the tools that enable fresh food production in any environment.  Our farms are already operating in cities across the United States and Canada, creating year-round access to local, fresh produce for restaurants, universities, corporate campuses, hotels, and small businesses. READ MORE

Mavrck Announces $2.5M Series A Funding

Mavrck, out of Techstars Boston, today announced $2.5M Series A funding from GrandBanks Capital... READ MORE

 

Splitwise Raised $1.4M

I’m happy to announce today that Splitwise has raised $1.4MM in new seed funding from leading tech investors. Raising outside money means we can continue to invest in building the world’s best product for reducing the stress of money in relationships. Hooray! READ MORE