Zagster Raises $3.5 Million
Exponential Growth & Strong Demand Drives Funding From Investors Including LaunchCapital, Fontinalis Partners, Clean Energy Venture Group, LaunchPad Venture Group and Other Boston-Area Angel Investors
CAMBRIDGE, MA--(Marketwired - Jul 2, 2015) - Zagster, the leading provider of private and public-private bike sharing systems, today announced it has raised $3.5 million in a Series A round of funding to support its rapidly expanding national footprint of bike sharing programs. The company received funding from existing investors, including LaunchCapital; Fontinalis Partners (a strategic investment firm co-founded by Bill Ford); Clean Energy Venture Group; LaunchPad Venture Group; and several leading Boston-area angel investors, as well as a new investor, Otter Consulting.
"With more than 75 programs in 50 cities in 28 states, Zagster is the fastest growing bike sharing company in the country," said Timothy Ericson, co-founder and CEO of Zagster. "There's incredible demand for bike sharing in places that simply can't be served by the large, city-wide programs, and we're the only company capable of meeting that demand with our low-cost, scalable, turnkey model."
In the past year alone, Zagster has increased the number of bikes in its program by more than 300 percent, and projects to increase it by another 300 percent in 2015. In addition, the total number of members is up nearly 250 percent. In expanding from eight states to 28 states, it has doubled the number of employees and recently doubled its office space.
The company counts among its customers leading employers (including General Motors, Samsung, Workday, Quicken Loans and others); several of the top 10 national real estate developers (including Kayne Anderson, Related Management and Irvine Company); several top universities (including The Ohio State University, Duke University, Yale University and Princeton University); and leading hotel brands like Hyatt and The Four Seasons.
Increasingly, Zagster's model of public-private sponsorship is enabling expansion into cities, like Cleveland and Canton (Ohio), Albuquerque (New Mexico), Carmel (Indiana) and Montgomery County (Pennsylvania), that would otherwise not have bike sharing programs.
"Zagster has shown that it can apply the elements of a high growth, tech-enabled business into what has been a capital intensive industry," said Bill McCullen, Chief Investment Officer of LaunchCapital. "As a result, they are growing faster and serving more customers and partners -- the type of trajectory that we like to see in our investments."
Unlike large, city-wide programs that are costly, lock sponsors into long-term contracts and require expensive and complex infrastructure that is hard to upgrade, Zagster's agile, flexible and easy-to-upgrade technology make it possible to be deployed nearly anywhere.
"We see a lot of opportunities in the next-generation mobility space, including bike sharing, and we were attracted to Zagster's long-term, financially viable business model that helps open up bike sharing to previously underserved segments of the market," said Chris Cheever, Founder & Partner at Fontinalis Partners. "Zagster has been able to do what no one else in the bike sharing space has done -- be able to show a return on investment and a pathway to long-term sustainability of bike share programs. It's a major step forward for the industry."
Zagster members use their mobile phone to receive a code to unlock the bike at the time of the trip. The same lock that locks the bike to the host location can be used to lock the bike during the trip, something that most city-wide programs do not allow because their bikes must be locked at official docking stations. At the end of the trip, the member returns the bike to a Zagster location, locks it and ends the reservation via the Zagster mobile app or via a simple text message to Zagster.
Founded in Philadelphia in 2007 as CityRyde and now headquartered in Cambridge, Mass., Zagster is the leading provider of private and public-private bike sharing systems. Zagster is uniquely focused on contracting with property managers, hotels, businesses, universities and smaller cities across North America to make bike sharing programs available to tenants, employees, guests, students and residents. This highly efficient and unique model allows Zagster to offer services in areas that traditional city-wide bike sharing systems can't reach. More information about Zagster is available at www.Zagster.com.
LaunchCapital was founded in January 2008 with a mission to help entrepreneurs gain quick access to seed capital and mentorship. With investments in over 100 companies, LaunchCapital has a core focus in technology, consumer and medical businesses. The nine-person team has syndicated investments with over 50 venture firms and 1000 angel investors. They currently have offices in Cambridge, MA, New Haven, New York City and Palo Alto. More information about LaunchCapital is available at www.launch-capital.com.
About Otter Consulting
Otter represents the interest of a single-family office in South Florida. Otter's Investment Manager, Mike Wohl, has led Otter's private investment effort since mid-2013, participating in 18 venture deals that span seven major US cities. Working on behalf of a single limited partner, Otter possesses the flexibility to be sector and stage agnostic.
About Fontinalis Partners
Fontinalis Partners, with offices in Detroit and Boston, is a venture capital firm strategically focused on next-generation mobility. The firm was founded by Bill Ford, Ralph Booth, Chris Cheever, Chris Thomas, and Mark Schulz. Fontinalis' mission is to leverage the firm's considerable management experience, market access, strategic relationships, international expertise, and background in transportation innovation to scale companies providing next-generation mobility solutions. Fontinalis invests across all facets of the world's transportation infrastructure on a stage-, structure- and size-agnostic basis. Fontinalis is not affiliated with Ford Motor Company. More information about Fontinalis is available at www.fontinalis.com.
About Clean Energy Venture Group
Clean Energy Venture Group is an investment group that provides seed capital and management expertise to early stage clean energy companies. Its mission is to invest in and support early stage clean energy companies that have the potential to mitigate climate change and achieve attractive financial returns. The group is comprised of seasoned operating executives with strong capabilities in the energy and environmental sectors. With each investment, it brings not only capital, but also the value of its team's experience and network to help companies achieve their goals. More information is available at www.cevg.com.
VENTUREAPP Raises $2M
Per BostInno, VENTUREAPP, an invite-only concierge service that provides on-demand solutions for a startup’s most pressing challenges, has raised $2 million from Accomplice and Boston Seed.
VENTUREAPP was founded by Chase Garbarino, Kevin McCarthy and Gregory Gomer of Streetwise Media and Boris Revsin and Jared Stenquist of DailyBreak. READ MORE
Pneuron Corp. Announces $5 Million Series B-1 Funding
Safeguard Scientifics, Osage Partners and Scott Group LLC Invest into Distributed Analytics Company’s Accelerating Growth
WOBURN, Mass.—July 1, 2015--Pneuron Corporation, the pioneer of the distributed solutions category, today announced a $5 million Series B-1 funding round, led by Safeguard Scientifics and joined by Osage Partners and Scott Group LLC. With this additional investment, Pneuron raised $13.25 million in funding and has seen revenue grow at a CAGR of 173 percent (or comparative revenue growth of 639 percent) since the last funding round in March 2013.
“This new financing round will allow us to focus on hiring key scale-up resources in sales, sales engineering, and implementation to deliver on the significant growth over the last two years across the Distributed Analytics space and the new category of Analytics on the Edge,” said Simon Moss, CEO of Pneuron. “What we built helps companies realize the time-to-value and agility advantages of a distributed data and analytics approach. With Pneuron, businesses no longer need to invest large and burdensome time and costs to solve business problems that have been so poorly serviced by traditional data and systems integration models."
Pneuron’s strategy is to step investment, based on success and growth achievement, ensuring minimal dilution for staff, effective and measurable ROI for investors. Combining strong cash management with effective and disciplined organizational growth enables focused use of funds to help scale operations and support accelerating market success. This approach continues to advance the messaging of its innovative platform and paradigm into the market, and reinforces a corporate culture focused on EBITDA, revenue growth and cash effectiveness.
A growing number of customers see Pneuron’s Distributed Platform as a new and unique way to quickly and dramatically change their solution strategy for problems that are traditionally too expensive, manual or risky to solve. This new round of funding will support Pneuron’s ability to deliver on the promise of solving traditional problems composed of disparate and distributed data, systems, business processes and analytics across an organization with dramatic improvements in time to value and cost.
“We are well-positioned to deliver a strong second half of the year, with aggressive projected growth for 2016,” said Elizabeth Elkins, COO of Pneuron. “Our current client base has found significant success in Pneuron’s approach to solving distributed data, process and system challenges in the enterprise and we are planning for the additional resources needed to service our increasing customer base.”
Analytics on the Edge
Analytics on the Edge represents a fundamental shift in the way firms solve business problems where the requisite solution components are highly disparate and distributed. Pneuron offers the ability to manage distributed processing wherever companies need it and dramatically simplifies the effort required to build such solutions. With the Internet of Things, problem solving is going further out to the edge, and Pneuron offers next generation technology that can distribute and manage solution components that work with the diverse elements in this expanding environment in the most efficient manner - from applications to machines, devices and sensors.
This funding round comes on the heels of another 200 percent revenue and bookings growth year in 2014, Pneuron being named a 2015 Gartner “Cool Vendor”, a global alliance with HP and a new patent for Pneuron’s “distributed analytics method for creating, modifying and deploying software pneurons to acquire, review, and analyze targeted data.”
Pneuron enables organizations to rapidly solve business problems through a groundbreaking, distributed approach that cuts across data, applications and processes. By targeting the right information at the data source, companies are no longer faced with the complex integration and infrastructure requirements of traditional approaches. Pneuron’s innovative Distributed Solutions Platform enables the acceleration of business value and develops reports, products and applications in half the time and cost of traditional methods. Pneuron’s distributed approach is non-invasive, technology-agnostic and leverages an organization’s existing infrastructure, avoiding the deployment risks and IT concerns that are prevalent in today’s centralized data projects. For more information, visit us online at: Pneuron.com, on Twitter or LinkedIn.
Drafted Announces $2.5M Seed Funding
Drafted Announces $2.5M Seed Funding from Accel, General Catalyst, and Lightspeed
Drafted, a mobile app focused on hiring through referrals, has raised a total of $2.5M to date in seed financing from VC firms Accel, General Catalyst, Lightspeed Venture Partners, and others. The funding will be used to accelerate Drafted’s growth and continue building the team.
Drafted launched in beta exclusively in the Boston tech community in May 2015, with plans to expand to other cities and verticals later this year. In less than two months, more than 50 Boston employers joined the platform, including companies like Hubspot, M.Gemi, and Drizly. Almost $500,000 in rewards are up for grabs, with some individual rewards as high as $15,000.
“Referrals work because of the people that make them. We are making it super easy and rewarding for people to do what they already do - helping their friends. And unlike many other aspects of the process, Drafted is actually fun to use,” said founder and CEO, Vinayak Ranade.
The mobile-first platform enables hiring managers to enter the vital details of the job they are trying to fill in a matter of minutes. They can then set a reward for filling the position and share it with their colleagues through social networks, text and email. Those who receive a job notification on Drafted can either apply themselves, or simply forward the job along to a friend. A job can be forwarded many times, creating chains of referrers that connect the hiring manager to prospective hires. When someone is hired, everyone in the successful chain of referrers splits the reward, including the new hire.
“It’s probably the easiest fun way in the world to make a few grand. It takes two minutes. Plus you are helping somebody get a job.” said Paul English, KAYAK co-founder and Drafted investor.
Drafted makes referral-based hiring fast, fun, and rewarding. The free Drafted mobile app is available in both the iOS and Android app stores. Designed and built in Boston by alumni of KAYAK and MIT, Drafted is the easiest way to help your friends find jobs while being appreciated by the companies that hire them.
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ezCater Raises $11.7M in Funding
As reported by the Boston Business Journal, ezCater in Boston has raised $11.7M in funding. The round of funding was led by NY based Insight Venture Partners and it also included participation from Breton Capital Management, Launchpad Venture Group, and other current investors. ezCater is an online marketplace for catering services aimed at businesses... Read More
Tesora Announces $4.5 Million New Funding
Funds will further scale Tesora sales, marketing and product development efforts
CAMBRIDGE, Mass., June 24, 2015 – Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has closed $4.5 million in venture financing. This is the first new investment in the firm since its successful re-launch as Tesora to become the market leader in database as a service and OpenStack Trove, which was done in February 2014.
The round includes new investors, Rho Canada Ventures, along with existing investors General Catalyst Partners, CommonAngels Ventures, Point Judith Capital and angel investors. This brings Tesora’s total financing to $13.2 million.
The OpenStack Trove database as a service project is transforming the way databases are provisioned and managed, to make database capacity that can be consumed on-demand like electricity. Tesora is the leading contributor to the Trove project, alongside other contributing companies like HP, Rackspace, eBay, and Red Hat.
“In early 2014, we made a significant business model change. This new investment further validates our belief in the potential of database as a service and the OpenStack Trove project,” said Ken Rugg, founder and CEO of Tesora. “Many enterprises are adopting OpenStack for private cloud infrastructure and we expect Trove and database as a service to be an important part of this.”
OpenStack Trove provides a scalable framework for operating a variety of different database management systems (DBMS) – relational and non-relational – through a single, common management infrastructure. This makes it much easier and faster to select and operate databases – while retaining all its capabilities – in a secure private or public cloud.
“We are excited about the continued growth in the OpenStack market,” said Sean Brownlee, partner, Rho Canada Ventures and newest member of Tesora’s board of directors. “As organizations continue to move workloads to OpenStack, we believe that Tesora will be uniquely positioned to deliver on the promise of open, enterprise database as a service in the cloud.”
About OpenStack Trove
Trove is the database as a service component of OpenStack that lets administrators and DevOps manage multiple instances of different database management systems (DBMS) using a common infrastructure. The result is that routine tasks like provisioning, and managing regular administrative tasks like clustering, replication, backup and restore are handled in a simple, unified way.
Tesora brings more than 200 years of cumulative database technology experience to the OpenStack community, helping organizations get the most from their OpenStack investment by making it easy to deliver database capacity on demand. The company is the leading contributor to the OpenStack Trove project and developer of Tesora DBaaS Platform Enterprise Edition, the first commercially-available product based on Trove. To learn more about Tesora visit www.tesora.com.
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* See release on Tesora.com here
BitSight Closes a $23 Million Round of Series B Financing
BitSight Technologies, the standard in Security Ratings, today announced that it has closed a $23 million round of Series B financing. Comcast Ventures joins as a new investor together with current investors Globespan Capital Partners, Menlo Ventures, Commonwealth Capital Ventures, Shaun McConnon and Flybridge Capital Partners, all participating in the round of funding. Managing Director David Zilberman led the investment for Comcast Ventures. New funding will be used to extend sales and marketing into Europe and APAC, expand engineering and data science teams to accelerate the company’s new data analytics products, and fund potential acquisitions of key data source partners. BitSight has raised $49 million to date.
BitSight Security Ratings are used by global enterprises to continuously monitor the risk posed by vendors in their supply chain, report to board members about their own security performance benchmarks within a peer group, and support underwriting decisions for cyber insurance. The BitSight platform uses publicly available data to rate the security performance of an organization on a daily basis. Observed security events and configurations, such as communication with a botnet, malware distribution, and email server configuration, are assessed for severity, frequency and duration and used to generate objective Security Ratings. BitSight Security Ratings range from 250 to 900, with higher ratings equating to higher security performance.
“The transition of information security to a business discussion at the board level highlights the market need for objective, evidence-based measures of performance. BitSight Security Ratings provide data that can be used to understand risk in a variety of different scenarios, from the boardroom to conversations with strategic vendors or in underwriting decisions,” said Shaun McConnon, CEO of BitSight. “We are delighted that our existing investors have re-upped their commitment to our success, and I am particularly pleased that an organization with such Internet service reach as Comcast has chosen us as a key part of their investment portfolio.”
“BitSight has all the right ingredients for success, including a seasoned leadership team, innovative technology and a growing customer base,” said David Zilberman, managing director of Comcast Ventures. “Given the necessity for continuous vendor management, it’s important for us to invest in a company that has the potential to truly change the way all organizations measure risk and rate cyber security performance. BitSight is on an impressive trajectory.”
Since closing Series A financing in June 2013, BitSight hit several key milestones, including:
- Securing 150+ enterprise customers
- Tripling revenue from 2014 in only the first two quarters of 2015
- Bringing four Security Ratings use cases to market
- BitSight Security Ratings for Vendor Risk Management, whose users include two of the top five investment banks in the world
- BitSight Security Ratings for Benchmarking, which is used by 25 Fortune 500 companies
- BitSight Security Ratings for Cyber Insurance, which is used by three of the top five cyber insurance underwriters in the world
- BitSight Security Ratings for Mergers & Acquisitions, which is used by four of the top five private equity companies in the world
- The acquisition of security intelligence company AnubisNetworks
- Selection as a Gartner "Cool Vendor" in Vendor Management for 2015
About BitSight Technologies
BitSight Technologies is transforming how companies manage information security risk with objective, evidence-based security ratings. The company's Security Rating Platform continuously analyzes vast amounts of external data on security behaviors in order to help organizations manage third party risk, benchmark performance, and assess and negotiate cyber insurance premiums. Based in Cambridge, MA, BitSight is backed by the National Science Foundation, Comcast Ventures, Commonwealth Capital Ventures, Flybridge Capital Partners, Globespan Capital Partners, and Menlo Ventures. For more information, please visit www.bitsighttech.com or follow @BitSight on Twitter.
Barkly Closes $12.5 Million Series A
Boston-based startup identifies and stops endpoint attacks in real-time; Creates enterprise class protection for the mid-market
BOSTON - June 24, 2015 – Boston-based endpoint security startup, Barkly, today announced that it has closed a $12.5 million Series A financing round, led by New Enterprise Associates (NEA) and including Sigma Prime Ventures. Barkly has now raised a total of $17 million since the company was co-founded in 2013 by Mike Duffy and Jack Danahy, longtime colleagues, information security industry veterans and serial entrepreneurs. The funding will be used to expedite the company’s recruiting, product development, and go-to-market initiatives in the healthcare and financial services industries.
"We've built Barkly to bring advanced protection to the endpoint systems of the thousands of organizations that find themselves unprotected from modern sophisticated attacks, and who cannot afford to hire teams of experts to manage complex, expensive solutions,” said Duffy, Barkly’s co-founder and CEO.
Redefining the expectations of endpoint security
Barkly enters the information security market at a time when 62 percent of successful cyber attacks breach small and mid-sized companies. These statistics confirm that existing endpoint security solutions for these markets do not provide the protections necessary, nor the simplicity required for universal adoption and use.
By contrast, IT administrators with little or no security background can easily install Barkly on any number of devices using existing systems management tools. Attacks are automatically stopped in real-time without administrator interaction, and messages can be sent to end users to educate them about their mistake. For example, if an employee inadvertently clicks on a malicious link in his/her email, which subsequently attempts to install malware on the user’s machine, Barkly will immediately interrupt the installation, notify the IT administrator and educate the user. Notifications happen in real-time and are delivered on both desktop and mobile devices, so administrators can take action anytime, anywhere.
“The endpoint is the most common attack entry point in any organization,” said Danahy, Barkly’s co-founder and CTO. “Even so, security has not evolved meet the challenge there. Large companies invest in massive data gathering and analytics, while smaller companies suffer with insufficient protection. We purposefully designed Barkly so that any IT administrator, at any company, could implement advanced security and be confident in the safety and productivity of their workforce, with minimal oversight. That’s the beauty of Barkly.”
Breakthrough technology making stronger security simple
Barkly combines a proprietary, high performance, local protection agent with SaaS based reporting and management to provide real time defense against modern malware, including zero-day and polymorphic attacks. Powered by advanced behavioral analytics, the Barkly agent is invisible to both end users and attackers, and is unique in its speed and simplicity.
"We’ve seen countless endpoint security solutions that are focused on the Fortune 1000s but are too complicated for most other companies to consume. We’re excited to back Barkly’s leaders as they deliver a new form of endpoint security that’s simple to deploy and manage,” said Harry Weller General Partner at NEA. “Both end users, and IT administrators want to be protected, but they also want to get back to work. Barkly lets them do both – quickly and simply."
Barkly anticipates general availability in Q1 2016. For more information on Barkly or to request a demo, visit www.barklyprotects.com and follow them on Twitter @barklyprotects.
Barkly is re-inventing endpoint security. Based in Boston, Barkly identifies and stops modern sophisticated attacks on endpoint devices without sacrificing employee performance or productivity. Its speed and simplicity allows IT administrators to install, monitor, and customize reporting with efficiency and ease. Barkly was co-founded in 2013 by Mike Duffy and Jack Danahy, longtime colleagues, information security industry veterans, and serial entrepreneurs and is backed by New Enterprise Associates (NEA) and Sigma Prime Ventures. For more information on Barkly or to sign up for its early access program, visit www.barklyprotects.com and follow @barklyprotects on Twitter.
Fullbridge Secures $15.4 Million
Fullbridge, Inc., a professional development and education company that prepares students and young professionals to succeed in the global economy, has secured $15.4 million through the sale of a series of preferred stock. The round was led by learning innovation investor, GSV Capital, with active participation from several high net worth individuals and family offices from the U.S. and Europe.
The investment is instrumental as the company expands its leadership team, program availability, geographic reach and offerings with colleges, companies and ministries worldwide – all with the goal of preparing students to succeed as young professionals. The funding also allows Fullbridge to expand its technology platform by developing a multi-user offering which streamlines program enrollment and enhance communication between Fullbridge clients, coaches and students. READ MORE
Tamr Receives $25.2 Million in Financing
Global 500 Industry Leaders Join Forces with Tamr to Advance Scalable Data Unification
Tamr, Inc., the company co-founded by database pioneer and 2014 ACM A.M. Turing Award winner Michael Stonebraker, Ph.D., today announced that it has raised $25.2 Million in Series B financing from Hewlett Packard Ventures, Thomson Reuters, MassMutual Ventures, the corporate venture capital arm of Massachusetts Mutual Life Insurance Company (MassMutual), and others. Current Tamr investors NEA and Google Ventures also participated in the round. Tamr will use the funds to significantly grow sales as well as product engineering for Tamr’s scalable data unification platform.
Professor Stonebraker, Tamr’s CTO, will receive the Turing Award, often called the “Nobel Prize of Computing,” tomorrow at the 2015 ACM Awards Banquet in San Francisco. The award recognizes his extensive contributions to modern database systems, including founding Tamr and eight other start-up companies to commercialize database technologies.
The new investment by Hewlett Packard Ventures, Thomson Reuters, MassMutual Ventures and existing investors indicates both the broad adoption of Tamr by many of the largest companies in the world and broad recognition of the data-variety challenge faced by companies in many industries across many applications.
“We have strong and deep relationships with our partners at Hewlett Packard, Thomson Reuters and MassMutual Ventures, and we’re looking forward to extending our partnerships with them,” said Tamr co-founder and CEO Andy Palmer. “By recognizing and embracing the reality of heterogeneous data in large organizations, these companies are enabling themselves and their customers to compete on analytics.”
Said Michael Stonebraker: “Tamr’s technology and approach to scalable data unification will be the next big thing in data and analytics - similar to how column-store databases were the next big thing in 2004.”
“In an increasingly complex world, Thomson Reuters empowers our customers to be more informed, efficient and successful,” said Graham Cousins, Senior Vice President, Platform of Thomson Reuters. “World-class technology, integrated data, and powerful analytics are key to these efforts, and we look forward to working closely with Tamr to develop even more innovative solutions for the industries we serve.”
Tamr’s scalable data-unification platform dramatically reduces the time and effort required to connect and integrate diverse, siloed data for business analytics. Tamr combines machine learning algorithms with collective human insight to identify sources, understand relationships and curate the massive variety of silo-ed data, giving customers dynamic 360-degree views of their businesses. Customers are using Tamr for procurement optimization, customer data integration, clinical trials management and many other use cases.
“HP already has a deep partnership with the Tamr leadership team, and we’re thrilled to strengthen it with this investment,” said Lak Ananth, Managing Director, Hewlett Packard Ventures. “Prior to founding Tamr, Andy and Michael co-founded Vertica, which is now a key pillar of HP’s Big Data platform. As a strategic partner, we’ll help Tamr build enterprise-grade products and a global go-to-market strategy.”
“The insurance and financial services industries have long been drivers in effective data integration, and we are excited to forge a working partnership with Tamr through this investment,” said Allan Campbell, MassMutual’s Chief Technology Officer. “The ability to use 100% of available data opens up many opportunities for additional product innovation and enhancements to meet the demands of our policyowners and customers.”
Mark Goodman, managing director of MassMutual Ventures, added, “We are extremely pleased to be able to support this game-changing technology through our investment in Tamr, a company that we believe will continue to have an impact on the way our industry looks at and manages data.”
In its March 25 announcement of the 2014 Turing award, the ACM said that Michael Stonebraker “invented many of the concepts that are used in almost all modern database systems ... Source code from Stonebraker’s systems can be found in many modern database systems. During a career spanning four decades, Stonebraker founded numerous companies successfully commercializing his pioneering database technology work.” The Turing Award is named for Alan M. Turing, the British mathematician who articulated the mathematical foundation and limits of computing.
New investors SineWave Ventures and Work-Bench Ventures also participated in the round.
About Tamr, Inc.
Tamr, Inc., catalogs, connects and publishes the vast reserves of underutilized internal and external data using a combination of machine learning with human guidance so enterprises can use all their data for analytics. Tamr was founded in 2013 by big-data serial entrepreneurs Andy Palmer and Michael Stonebraker, who previously co-founded Vertica Systems (acquired by HP); Ihab Ilyas of the University of Waterloo; George Beskales; Daniel Bruckner; and Alex Pagan. Tamr customers include GE, Novartis, Roche, Thomson Reuters and Toyota Motor Europe.* Learn more about Tamr on their BIZZpage.
Cure Forward Raises $15M
Per BetaBoston, Cure Forward, a patient activation company, has raised $15 million. READ MORE
Cryptzone Secures $15M Series B Funding
Growth Capital to Help Rapidly Growing Cybersecurity Company Accelerate Sales, Expansion
Cryptzone, a provider of dynamic, context-aware network, application and content security solutions, today announced that it has closed a $15 million Series B round of funding. The round was led by Kayne Partners, the growth private equity group of Kayne Anderson Capital Advisors, L.P., an approximately $29-billion alternative investment firm. Nishita Cummings, Managing Director at Kayne Partners, will join the Cryptzone board representing the firm, which has invested in other leading-edge companies in the security and software sectors like CellTrust, Zafin and FaceFirst. Additionally, existing investor Medina Capital and a number of its limited partners participated in the round.
The funding will accelerate Cryptzone’s go-to-market strategy and fuel its global expansion. Cryptzone’s disruptive solutions allow organizations to avert cyber-attacks via privileged account and third-party users, and prevent the exposure of sensitive and confidential information to unauthorized users, using identity and context to dynamically secure access. READ MORE
* Visit the Cryptzone BIZZpage to learn more + see their Job Openings
BoardOnTrack Closes $1.7 Million Funding Round
Per Scott Kirsner at BetaBoston, Concord, MA based BoardOnTrack, a SaaS company that supports Charter Schools with the most cost-effective, efficient, and convenient way to build a better board, has closed a $1.7 Million Funding Round. READ MORE
Ministry Of Supply Raises $1.5 Million
Per Sara Castellanos at Boston Business Journal, Ministry Of Supply, makers of High-tech performance professional clothing for men, has raised $1.5 million in new funding.
Total funding to date for the company is now more than $6 million.
Investors in the round are undisclosed. READ MORE
Interactions Raises $40 Million of New Financing
Interactions Corporation, the leading provider of conversational Virtual Assistant applications for customer care, today announced that it has closed a $40 million financing round led by SoftBank Capital. Existing investors Sigma Partners, Sigma Prime Ventures, RED LLC, Cross Atlantic Capital Partners, North Hill Ventures and Updata Partners also participated in the financing.
Yesware Raises $13.3 Million
Foundry Group led the round, with Battery Ventures, Google Ventures, Golden Venture Partners and IDG Ventures participating.
From Yesware CEO, Mathew Bellows:
Five years ago today, I was the VP of Sales at a venture-backed startup. I hadn’t yet been fired for applying for my CEO’s job. I hadn’t called Cashman to pitch “Software for Salespeople.” I certainly hadn’t made up the word “Yesware” five years ago.
Five years ago I felt pain, and I smelled opportunity. The pain I felt was from salespeople struggling to make their number, close that last deal, make club, and reach their goals. I’d stood before boards of directors defending my team’s quarterly pipeline—riddled with uncertainty and imprecision. The board knew it, and they knew that I knew it, but none of us at the time knew why.
The opportunity that I smelled was to start a virtuous circle.
If, by bringing the power of software to salespeople at every level of an organization, we could genuinely help our customers be more successful, our customers would earn more money. If they earned more money, they’d be able to buy more of our products. Since there are a lot of salespeople in the world, it smelled like the chance to build a real company.
Happily and luckily, when I shared my vision with my former business partner Cashman Andrus, he said, “I can build that” and we embarked on the best adventure of our careers. Just over four years ago, we brought in our first investors, threw away our prototype, recruited a few of the best engineers on the planet, and released our first version of Yesware for Gmail.
Looking back at our first funding round, I’m struck by how unrealistic our revenue projections were. How did I not get laughed out of every room I walked into?
But really the way it worked for us is the way it works for most startup people…
You talk with enough people, and make enough sense or don’t seem too crazy, that some of them smell the same opportunity that you do. After meeting with and pitching 45 angels, super angels, micro and macro VCs, and other associated people, we connected with Rich Miner from Google Ventures, Brad Feld from Foundry Group, and Matt Golden from Golden Venture Partners.
In our A Round we welcomed Pat Kineally from IDG Ventures to the team. In our B Round, we welcomed Neeraj Agrawal from Battery Ventures. And since that delusional business plan, we’ve built the foundations of a great company.
We have served almost 700,000 salespeople across the globe. We offer Yesware for Google Apps, Outlook and iOS. We are deeply integrated into the sales process at some of the fastest growing software companies in the world. We’ve built an incredible team and culture.
But there is so much more to do. I’m so proud of what we’ve done so far, and it’s gratifying to see so many of our initial ideas in the hands of our customers, and we’re only just getting started.
In order to accelerate our growth, I’m honored to announce that we’ve raised an additional $13.3 million.
Foundry Group led the round, with Battery Ventures, Google Ventures, Golden Venture Partners and IDG Ventures participating.
I am incredibly fortunate to have the opportunity to create my dream job. I’m grateful to our customers, our prospects, and the companies that turned us down but told us why. I’m forever grateful to our investors. I’m even grateful to the investors who turned us down but told us, honestly, why.
But mostly, I’m grateful to the smart, strange, wonderful people who work at Yesware. They give everything of themselves to bring our software to you. They push through personal struggles. They stretch themselves. The people who work here are, in the words of our first Yesware value, “Brave, Ambitious and Resilient.”
Thank you all for getting us this far. I’m so excited to see what our next stage of growth will bring. If you want to let me know your thoughts, please email me at matthew [at] yesware.com. Thanks. More to come.
Podium Data Announces Funding
PODIUM DATA ANNOUNCES INITIAL FUNDING
Funds to Fuel Growth of Big Data Platform that is Redefining
Enterprise Data Management
LOWELL, Mass. – June 3, 2015 – Podium Data, provider of a practical, big data platform that accelerates access to critical business data, announced today that it has secured initial financing, led by CommonAngels Ventures. The initial round of financing will fuel company growth and advance early marketplace adoption of the Podium enterprise data management platform, released in August 2014.
Podium Data gained early traction among target customers by addressing a persistent and growing challenge faced by today’s enterprises: fundamental business data is not readily available for decision making. Business leaders are increasing the pressure on IT, requesting self-service access to more data sources, as well as faster consolidation and integration of critical information.
The Podium platform extends the power of big data technologies, delivering the first data lake platform with business ready data. Business users get access to the data they need in a secure, self-service environment with insights continuously captured. With Podium, businesses dramatically reduce their time to answer, enabling informed decision making, agile innovation, improved customer experience and, ultimately, competitive advantage.
Growing demand for a cost-effective data management solution that captures value from vast stores of information is evidenced by the number of customers in the financial services, insurance, healthcare and retail sectors committing to multi-year Podium subscriptions.
“With Podium, we finally have access to essential data we can trust. Podium provides self-service access to all of our data, and has enabled our team of analysts and data scientists to dramatically accelerate analysis and business insights. Podium was installed with data ready for use in 90 days, and began to immediately deliver ROI to our business.”
-Top 20 Pharmaceutical customer
Much of Podium Data’s early success is attributed to its strong leadership team, which is led by visionary founders Paul Barth (CEO) and Steve Richards (COO), and comprised of recognized thought leaders and hands-on experts in big data technologies, data management and business intelligence. With decades of IT experience, the other founding team members —technologists Atif Majid, Michael Howard and Bob Vecchione—inherently understand and can innovatively address the most pressing issues faced by today’s business and IT leaders.
Podium Data will leverage the CommonAngels-led funding to build on its accomplishments of the past year, expand the company’s reach in target markets, and continue to deliver on its mission to help commercial enterprises and government organizations optimize the value of critical data assets.
“Podium Data significantly and cost-effectively advances the ability to make complex business data immediately useful to organizations. CEO Paul Barth is a well-regarded thought leader in big data and a successful serial entrepreneur. CommonAngels Ventures is thrilled to partner with him and the other co-founders in this new enterprise.”
--James Geshwiler, Managing Director, CommonAngels Ventures
About Podium Data
Podium Data is redefining the enterprise data management landscape. The company’s practical high-performance Podium platform continuously captures and integrates data from disparate sources. IT elevates its value contribution by unleashing data to business users who can now access and leverage information on demand. Podium’s proven big data technologies help organizations in all industry sectors optimize the value of their information assets by making trusted business data readily available to stakeholders across the enterprise. Visit http://www.podiumdata.com to learn about how Podium accelerates access to fundamental data, driving the analytics and insights required for dramatic impact.
PillPack Raises $50M
Per Dennis Keohane of PandoDaily, PillPack has raised $50 million.
With $50 million in new funding, TJ Parker and PillPack take aim at the pharmacy establishment
Growing up in Concord, New Hampshire, TJ Parker kind of figured that he would end up one day running the family pharmacy business.
Parker filled various roles for the pharmacy his father ran, working behind counter or delivering medications to the nursing homes and assisted living facilities. He even color-coded one customer’s pill bottles so that she knew which time of the day to take each medication. So it was quite natural that TJ Parker would go on to the Massachusetts College of Pharmacy and Health Sciences to follow in the footsteps of his father.
However, a few unexpected things happened along the way that eventually led to the formation of pill packaging startup PillPack, which announced today that it has received $50 million in new funding. READ MORE
* Learn more about PillPack on their BIZZpage - They're HIRING!
VS2 Secures $2 Million in Seed Financing
VS2 Secures $2 Million in Seed Financing to Complete
Development of an Inherently Secure Computing Architecture
WALTHAM, Mass. – June 3, 2015 – Cybersecurity start-up Virtual Software Systems (VS2), announced today that it has closed a $2 million round of seed funding from Bulldog Investors, Sequel Capital Management, and a number of private investors to accelerate the development of a new, inherently secure computing architecture. With this investment, VS2 will hire additional engineering talent and develop partnerships to bring its solution to market later this year.
“VS2 has the potential to make computers orders of magnitude more secure – without actually changing the underlying systems in place today,” said George Hazlett at Bulldog Investors. “Given the team’s pioneering work in computer science, they are among only a handful of system-design architects in the world who could possibly conceive of and create such a novel innovation.”
VS2’s engineering team, led by CTO Richard Fiorentino, co-founder of Marathon Technologies and a pioneer in modern, fault-tolerant computing architectures, undertook the challenge of rethinking security at the most basic level of computing – application execution. The company’s solution couples the economics of virtualization with an entirely new systems approach to create a software-defined computing architecture that automatically rejects erroneous behavior caused by exploits, bugs or failures.
“We’ve been working quietly over the last two years, challenging our team to rethink the very fundamentals of computing,” said John Conway, CEO of VS2. “Until recently, our innovation would have been inconceivable. But advances in virtualization, combined with the unique perspective and expertise of our senior team, have enabled us not only to break new ground in cybersecurity, but in computer science as well.”
VS2 developed its approach to address the fundamental lack of security in today’s computers and networks. Current systems were designed to meet a demand for computing power, speed and efficiency, not security. Rather than trying to correct this through so-called “clean sheet” (forklift replacement) or hybrid hardware/software methodologies, solutions that are both costly and impractical, VS2’s software-only innovation allows legacy applications to run using existing systems with an exceptional degree of security. It is adaptable to virtually any platform, from servers to end points to the Internet of things (IoT).
The VS2 founding team holds more than a dozen computer design patents and is responsible for many foundational technologies that support today’s complex computer and network infrastructures.
About Virtual Software Systems, Inc.
Virtual Software Systems (VS2) is a cybersecurity venture focused on transforming the reliability and security of enterprise applications and data. With a team responsible for numerous computer industry innovations, VS2 has developed technology that provides a new system-level approach to security that fundamentally changes the vulnerability of computers to attack.
Based in Waltham, Mass., the company is privately funded.
Please visit VS2 on the Web at www.vs-2.com
Nantero Closes $30M+ Series E Round
Nantero, the world leader in carbon nanotube electronics, today announced it has closed a $31.5 million Series E financing round, which included new investors and participation from existing investors Charles River Ventures, Draper Fisher Jurvetson, GlobespanCapital Partners, and Harris & Harris Group. This substantially oversubscribed round highlights Nantero’s ongoing success in delivering a new generation of super-fast, ultra-high density memorycalled NRAM® (non-volatile random access memory) that can enable a variety of exciting new features and products in both consumer and enterprise electronics.
Signaling a new era in memory, Nantero’s NRAM has already been installed in multiple production fabs and is currently being designed into innovative new electronic products that require increased storage, low power consumption, high speed, reliability, and high endurance. The company intends to use its new funding to continue the acceleration of NRAM as the leading next–generation memory for both storage class memory and as a replacement for flash and DRAM.
“With Nantero’s NRAM, the wait for a new generation of super-fast, high-density non-volatile memoryis over,” said Greg Schmergel, Co-Founder, President and CEO of Nantero, Inc. “Our technology is already under development today in multiple world-class manufacturing facilities and we have more than a dozen major corporate partners actively working on NRAM. We are excited to begin the next phase of commercialization which will bring Nantero’s NRAM into volume production and change the course of electronics innovation for decades to come. READ MORE
CounterTack Announces $15M Series C Round of Financing
Growth Round Led by TenEleven Ventures to Fuel Company’s Aggressive Go-to-Market Strategy and Global Expansion to Meet Enterprise Demand for Next-Generation Endpoint Security
WALTHAM, Mass. (June 2, 2015) – CounterTack, the leader in Big Data Endpoint Detection and Response (EDR), today announced it has closed a $15 million Series C round of funding, led by TenEleven Ventures, with other new investors in the round including EDBI (the corporate investment arm of the Singapore Economic Development Board) and Mitsui, along with the participation of existing investors.
The funding will help CounterTack support its accelerated go-to-market strategy, further its global expansion initiatives and deliver truly scalable next-generation endpoint detection and response (EDR) technology to its growing portfolio of enterprise customers. CounterTack is the one EDR provider truly delivering unprecedented endpoint detection, forensic analysis, threat visualization and real-time response capabilities to the enterprise and the SMB market through strategic MSSP partnerships.
“With cybersecurity innovation at an all-time high, CounterTack is leading by integrating high-powered Big Data technology with security telemetry to produce actionable data to help respond to the enterprise-level threats where SQL-based solutions simply can’t scale,” said Alex Doll, Founder, and Managing General Partner, TenEleven Ventures. “CounterTack provides a new level of visibility, context and control to enterprise teams who need to protect their most valuable data, along with powerful threat correlation and automated response capabilities, to counter sophisticated, unknown endpoint threats at-scale, across the enterprise. We’re thrilled to participate in this fundraise to foster continued growth to meet EDR market demand.”
"Traditional threat detection and prevention approaches are ineffective to the attacks we see against endpoints and users today and even perimeter defenses labeled as ‘advanced’ can be evaded by attackers,” says Adrian Sanabria, Senior Security Analyst, 451 Research. “Today’s enterprises must be able to detect and rapidly respond to threats that have made it past these defenses, onto the endpoint. This approach must be able to cut through the typical security alert ‘static’ to give analysts accurate intelligence about threats across the entire enterprise, in real time."
“The rapid digitization of economies poses cybersecurity challenges to businesses globally,” said Chu Swee Yeok, CEO and President, EDBI. “The presence of leading cybersecurity companies such as CounterTack in Singapore, with its unique endpoint threat detection and response solutions, will help strengthen business resilience against rising cyber attacks. We look forward to realizing CounterTack’s Asian growth plans through our extensive network in the region.”
Key Growth Milestones:
- CounterTack reported 300% YoY Q1 growth from 2014 to 2015 at the RSA Conference North America in April 2015.
- The company was named to the JMP Securities Fast 50 list of hottest privately held security and networking companies.
- CounterTack is a 2014 Gartner Cool Vendor, recognized for innovation in the Endpoint Security market. (May 2014) CounterTack’s CEO Neal Creighton will participate in the ‘Top Market Trends in the Endpoint Detection and Response Market’ panel at the Gartner Security & Risk Management Summit, June 8, 2015 from 10:00 am – 10:45 am EST at the Gaylord Resort, National Harbor, MD.
TenEleven Ventures, EDBI and Mitsui join CounterTack's current investors including Goldman Sachs, Fairhaven Capital, Siemens Venture Partners, Razor's Edge, OnPoint Technologies (investment fund of U.S. Army) and Alcatel-Lucent.
CounterTack is the leading provider of real-time, Big Data endpoint detection and response technology for the enterprise. CounterTack's Sentinel platform provides unprecedented visibility and context around endpoint behavior to targeted, persistent threats to improve incident response and threat detection, enterprise-wide.
Built on Big Data architecture to counter endpoint threats at-scale and leveraging tamper-resistant collection for pure behavioral capture on enterprise endpoints, (laptops, servers, workstations, mobile devices) Sentinel dramatically reduces the impact of advanced attacks in real-time, giving teams an opportunity to defend the enterprise before incidents escalate.
To learn more, please visit: http://www.countertack.com.
Nina Gill and LeeAnn Hovanasian
CarePort Health Closes $3.8M
CarePort Health Closes $3.8M to Improve Post-Hospital Care
Boston, MA, June 1, 2015
Careport Health, the leading innovator in post-acute outcomes management, has closed on a $3.8M financing to accelerate growth. Founded by Dr. Lissy Hu, a Harvard Medical School and Harvard Business School alumna, who witnessed first hand the challenges of finding post-hospital care, Careport now supports health systems and hundreds of post-acute providers across the US.
This round is led by Baseline Ventures, with participation from CommonAngels Ventures, Excelerate Health Ventures, Generator Ventures, Launch Capital, 500 Startups and Andy Palmer. Prior investors in the company include Boston Seed, TechStars and a variety of technology leaders.
“Imagine my surprise when I saw that even at the most advanced hospitals, patients relied on paper lists to find post-hospital care.” Hu said. “Frankly I had more information about a hotel a thousand miles away than the nursing home down the street. I saw how much patients were struggling, so I started CarePort to eliminate the information gap and ensure every patient receives the best post-hospital care.”
40% of Medicare patients need post-acute care after being discharged from the hospital. Yet the process of finding an appropriate skilled nursing facility or home health agency can be fraught with challenges for patients. The technology for finding post-hospital care has not evolved much beyond a paper list. Hospitals provide patients in need of rehabilitation services a list with names, phone numbers, and addresses of providers. This opaque process can be equally frustrating for hospital staff. “As a case manager, you know the quality of facilities varies as well as their ability to effectively manage the patient’s recovery needs. But Medicare regulations say that you can’t recommend one place over another, so patients are truly on their own,” said Bonnie Geld, Vice President of the Center for Case Management.
CarePort collects and analyzes data from hundreds of post-acute care organizations to identify providers that match a patient’s unique clinical needs and preferences. Higher quality providers, such as those with low readmission rates, are presented to patients in an easy-to-understand and engaging format. Patients at Massachusetts General Hospital who use CarePort to help find rehab after an elective joint replacement procedure like “being able to take virtual tours of selected places, getting places within a certain distance, and the facility ratings.” Geld believes, “CarePort is the first truly patient-centered discharge planning tool.”
For hospitals, ensuring that patients receive high quality post-acute care has become a high priority issue with the continued transformation to value-based payment systems, including readmission penalties, bundled payment programs, and accountable care organizations. “We get penalized when patients come back to the hospital. It’s bad for us. It’s bad for patients,” explains Joel Vengco, CIO at Baystate Health. “CarePort helps us find high-quality post-acute care for our patients. When a Baystate patient leaves the hospital, they are in good hands.”
Increasingly hospitals are developing collaborative relationships with post-acute providers to ensure their patients receive high value care across the continuum. The Cleveland Clinic’s Center for Connected Care is engaged in quality improvement initiatives with nine skilled nursing facilities. Patients who recover at Connected Care facilities experience a lower likelihood of returning to the hospital for any condition within thirty days. According to Dr. Eiran Gorodeski, the Center’s leader, “Using CarePort, we are giving patients all the information they need to make an informed decision that best suits their needs and preferences.” After implementing CarePort, a greater number of patients are choosing skilled nursing facilities with lower readmission rates.
“CarePort’s solutions facilitate better post-acute decision-making leading to improved healthcare value. The ability to analyze and share relevant healthcare information with patients, their caregivers and collaborating providers in an easy-to-use format is critical to delivering a truly patient-centric care experience during care transitions ” said Joe O’Connor, a CommonAngels Venture Partner, healthcare entrepreneur, and co-founder of healthcare analytics and bundled payments companies.
With the new capital, CarePort will extend its platform capabilities to provide valuable information for providers to collaborate in the management of patients in post-acute settings. Hu explains, “The first step in the journey starts at the hospital, where we help patients and their caregivers find and select the best post-acute provider. Next, we provide the ability to monitor a patient’s recovery and make sure they are receiving the appropriate care.” CarePort’s platform tracks a patient’s recovery course in real time across post-acute settings and relays key information to the patient’s care team. CarePort breaks down information silos and exposes objective outcomes data in a timely fashion so that providers across the care continuum can work together to improve post-acute care in a patient-centered manner. “CarePort is bringing transparency into post-acute care so that we can raise the bar for all providers,” Hu explains. “We want patients to receive the best post-acute care no matter where they go.”
Databox raised $3.7M in funding
Per SEC filing, Databox raised $3.7M in funding. READ MORE
lifeIMAGE Announced a $17.5 Million Round of Financing
lifeIMAGE announced today that it has closed a $17.5 million round of financing led by Cambia Health Solutions (Portland, Ore.), a nonprofit total health solutions company dedicated to transforming health care by creating a person-focused and economically sustainable system. lifeIMAGE, the nation’s largest and most utilized network for exchanging medical imaging, will use this financing to expand resources for its growing customer base, increase the breadth of its network capabilities and implement the next phases of its go-to-market strategy.
Cambia and lifeIMAGE share a common goal: improving the quality of care while lowering its cost. Lack of access to imaging exams is the primary cause of unnecessary, duplicative procedures that delay care, frustrate clinicians and patients, and cost the country’s health system about $30 billion each year. lifeIMAGE helps providers improve care coordination for patient consultations, referrals and transfers by making medical imaging exams from unaffiliated hospitals, physicians and patients accessible worldwide. It interoperates with the electronic medical record systems from Cerner Corporation and Epic Systems Corporation to ensure every member of a patient’s care team has fast, electronic access to a complete imaging history. READ MORE
Dockwa Raises $1.1M
Dockwa, a mobile app company providing seamless reservations to boaters and the marine industry, announced today that it had raised $1.1 million in additional seed funding. Investors include David Skok of Matrix Partners, HubSpot's CEO Brian Halligan and CMO Mike Volpe, Driftt's CTO Elias Torres, and several private investors. The new capital will fuel expansion of the platform, as well as growth of the Dockwa team.
“With over seventy marinas in the major ports of New England, Dockwa is fast becoming the OpenTable for the marine industry, demonstrating an incredible customer experience, valued inventory, and convenience,” said Mike Melillo, founder and CEO of Dockwa. “We remain focused on building a singular customer experience. The additional funding is a testament to Dockwa’s growth potential, and I couldn’t be more excited about our team, product, and trajectory.” READ MORE
Virgin Pulse Closes $92 Million Investment
Virgin Pulse, the habits focused well-being company, today announced additional funding of $92 million. This latest round of investment will be used to further accelerate the company’s impressive growth and customer success. The round was led by Insight Venture Partners and included participation from existing investor, Virgin Group. As part of the transaction, Nikitas Koutoupes, managing director, and Anika Agarwal, vice president at Insight Venture Partners, will join Virgin Pulse’s Board of Directors.
The investment follows the recent launch of Virgin Pulse’s next generation workforce well-being platform that enables enterprise clients to increase employee engagement and productivity, build culture, and decrease healthcare costs by providing employees with tools that help them form habits that matter. For nearly a decade, Virgin Pulse has built on its consumer-focused roots to create products that drive hundreds of millions of habit-building interactions that encourage behavioral changes. The company has revolutionized how businesses create healthier, more productive workforces while also building great places to work. READ MORE
Draper Nexus Invests in CyPhy Works
CyPhy Works, a leading drone company and developer of advanced unmanned aerial vehicles (UAVs), today announced Draper Nexus as a key new investor in the MA-based company.
The addition of this premier value-added investor with its unmatched international networks will help CyPhy Works to rapidly further its commercialization plans in the US and abroad. The funds will support hiring in the areas of data management & analytics, commercial partnerships, product management and mechatronics. READ MORE
MOO Raises $5M in Funding
Moo received $5 million in series A funding in April from The Accelerator Group, Atlas and Index Ventures. The nine person company was founded by Richard Moross of London...READ MORE
Black Duck Software Raises $5M
Black Duck Software, the leading OSS Logistics solutions provider enabling the secure management of open source code, today announced it closed Q1 2015 30 percent above plan. The company attributes this success to efforts that have continued momentum in making open source adoption more secure, compliant, and efficient. Black Duck has welcomed several new hires, secured $5 million in additional funding from strategic investor the Venture Capital Unit of Siemens, and added former Avid Technology CEO and Venture Capitalist Daniel Keshian to its Board of Directors.
The company recently strengthened its customer success team with the appointment of Dean Vassiliou, Vice President Customer Success Management. Vassiliou is an experienced enterprise software professional with extensive delivery, support, and account management experience. Prior to Black Duck, Vassiliou led the professional services organization at Healthedge. Vassiliou also built and managed global professional services and client services organizations for start-ups including Lodestar Corporation, prior to its sale to Oracle and Salary.com, where he served on the IPO management team. Vassiliou’s hire comes on the heels of Black Duck adding strategic security expert Michael Pittenger (Co-founder of Veracode) to the company as Vice President of Product Strategy. READ MORE
BookBub Raises $7 Million in New Funding
Dear BookBub Partners,
Today I have an exciting milestone to share with you. We recently closed $7 million in new equity and debt financing for BookBub. Now we have even more resources to pursue our two core goals — to make it easier for readers to discover great books, and to help authors and publishers reach avid readers.
I’m happy to report that the new equity funding comes from the same investors in last year’s $3.8 million round of financing. It’s a group of people that I’ve known and trusted for more than 15 years, and who share our company vision. We’ve all been excited with the progress and feedback on our new initiatives, and decided to take additional capital to accelerate expansion. READ MORE