Placester Announces $20M Series C
Placester announced its Series C today - a $20M round led by NEA, which also led the Series B. This round brings the company's total capital to over $50M. Placester enables the professionals who power residential real estate - real estate agents and brokers - to leverage the power of technology for the benefit of their businesses. With this round, we are truly the best-positioned company (capital and customers) to fulfill this mission at scale. Our partnerships this year with Keller Williams and Remax - the 2 largest real estate brands - are a testament to how the real estate industry (which is the largest industry in every city and state in this country) has embraced us. SOURCE
Placester: Making Real Estate Marketing Easy. Boston Startup Shows Exciting Growth
Freebird Raises $3.5M
Per Sara Castellanos at BBJ Freebird iraised $3.5 million in funding from General Catalyst, Accomplice, Slow Ventures and angel investors. READ MORE from BBJ
Cogito Raises $5.5 Million Series A
Cogito Corporation – an innovator in real-time behavioral analytics for customer engagement, today announced the company has raised $5.5 million in Series A funding to expand its sales, marketing and customer success teams. Romulus Capital led the funding round, with participation from Salesforce Ventures.
“Cogito’s behavioral analytics technology is grounded in research from the MIT Media Lab, has been validated through DARPA and has been proven effective through commercial deployments. The solution helps customer care organizations increase customer satisfaction, decrease agent churn and improve productivity through more empathetic and caring conversations,” noted Krishna K. Gupta, Managing Partner of Romulus Capital. “Our experience has shown there is high demand for companies that can process complex data and produce real-time, actionable insights. We are all very excited about this partnership.”
“Our core mission is to improve quality of life for the millions of phone professionals and the billions of customers they serve. The investments from Romulus Capital and Salesforce Ventures will help us realize that ambition,” said Cogito CEO and Founder, Joshua Feast. “Our technology uncovers behavioral signals within the human voice and provides insight into the quality of conversations for agents and management.”
Cogito provides real-time behavioral guidance to customer service representatives, enabling them to improve their communication style, while building a more trusting relationship with their customers. Cogito software delivers instant and objective insights into customers’ levels of engagement for every phone-based interaction. This empowers phone professionals to deliver a more engaging and caring customer experience, which ultimately improves both quality of service and sales performance.
About Cogito Corporation:
Cogito enhances customer relationships through caring and empathetic conversations. Our lead application Cogito Dialog improves customer service agent performance by presenting them with real-time behavioral guidance. The Cogito Engagement Score provides an objective and reliable measure of quality on 100% of selected phone interactions a company has with its customers. Cogito is increasing customer engagement and improving productivity in the world’s leading organizations.
For more information visit www.cogitocorp.com
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About Romulus Capital
Romulus Capital is a venture capital firm focused on building, rather than betting on, the next big technology and science-enabled companies. The firm partners with entrepreneurs looking to become industry leaders and works with them to build world-class teams, win major customers, iterate on product, and think strategically about building a strong foundation. The firm was founded out of MIT in 2008. More information is available at http://www.romuluscap.com.
About Salesforce Ventures
Salesforce Ventures — Salesforce’s corporate investment group — invests in the next generation of enterprise technology to help companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world’s largest cloud ecosystem and the guidance of Salesforce’s innovators and executives. With Salesforce Ventures, portfolio companies can also leverage the expertise of the Salesforce Foundation to incorporate its 1-1-1 model of integrated philanthropy to make giving back part of their business model. Salesforce has invested in more than 150 enterprise cloud startups since 2009. For more information, please visit www.salesforce.com/ventures
Datto Closes $75 Million Series B Round
Datto, an innovative provider of comprehensive data backup, recovery and business continuity solutions, today announced it has raised $75 million in a Series B investment round led by Technology Crossover Ventures (TCV), a leading provider of capital to growth-stage private and public companies in the technology industry. The company will use the proceeds from the investment round to continue to invest in its global expansion and to accelerate product innovation to support its thousands of partners worldwide. The Series B brings total investments in Datto to just over $100 million.
“Today is a great day for our managed service provider partners and customers,” said Datto founder and CEO Austin McChord. “Datto is proud to be adding TCV as an investment partner. TCV brings a wealth of experience and expertise to help us continue to grow, innovate and expand globally.”
“Since we are cash flow positive, Datto isn’t raising capital to fund operations, but instead, to enter new markets and build new products and technology,” McChord continued. “With this new investment, Datto is excited to be pushing ahead to build new technology and improve the experience for our MSPs and end users around the world.”
The financing comes as Datto is achieving record year-over-year revenue growth, rapidly expanding into EMEA and APAC, and launching additional solutions for its extensive partner network and customer base. Datto manages more than 160 petabytes of data and more than one million backups a week for its customers. Datto’s Total Data Protection Platform protects customers’ business data no matter where it lives - on premises, in virtual or physical servers, or in cloud-based SaaS applications.
“From our first meeting with Datto, we were impressed with the company’s innovation and leadership team, and we knew we wanted to play a role in moving this company forward,” said Ted Coons, general partner at TCV and new Datto board member. “Cloud-based data protection holds great promise in ensuring information is always accessible and recoverable as more organizations conduct business in the cloud, and Datto has a tremendous opportunity to grow internationally in meeting this need.”
In addition to Coons joining Datto’s board of directors, Datto also added two board additional members: Patrick Gray, a board director of Civitas Solutions, Inc.; and Ursula Burns, Chairman and CEO of Xerox Corporation. They are joining a board that includes McChord; non-executive Chairman Paul Sagan, the former CEO of Akamai Technologies; and Steve Herrod, former CTO of VMware and currently a Managing Director of General Catalyst Partners, which led Datto’s Series A financing.
Coons has nearly two decades of experience investing in multiple technology sectors, with a deep focus on IT infrastructure. Gray has served on the board of Sancilio Pharmaceuticals since February 2012, and on the board of Civitas since September 2014, after nearly four decades with PricewaterhouseCoopers. Burns has served as Xerox’s CEO since 2009, following her success in other prominent leadership positions for the company. Burns is also a member of the board of directors of American Express Company and Exxon Mobil Corporation.
About Technology Crossover Ventures
Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of capital to growth-stage private and public companies in the technology industry. With nearly $10 billion in capital raised, TCV has invested in more than 200 technology companies over the last 20 years. Selected investments include Altiris, C|NET, ExactTarget, Expedia, Facebook, Fandango, FX Alliance, GoDaddy, Genesys Software, Groupon, HomeAway, Netflix, RealNetworks, Redback Networks, Rent the Runway, RiskMetrics Group, Sitecore, Splunk, Spotify, Thinkorswim, VICE Media, and Zillow. TCV is headquartered in Palo Alto, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, please visit www.tcv.com.
Datto is an innovative provider of comprehensive backup, recovery and business continuity solutions used by thousands of managed service providers worldwide. Datto’s 160+ PB private cloud and family of software and hardware devices provide Total Data Protection everywhere business data lives. Whether your data is on-premises in a physical or virtual server, or in the cloud via SaaS applications, only Datto offers end-to-end recoverability and single-vendor accountability. Founded in 2007 by Austin McChord, Datto is privately held and profitable, with venture backing by General Catalyst Partners and Technology Crossover Ventures. In 2015 McChord was named to the Forbes “30 under 30” ranking of top young entrepreneurs.
PatientPing Raises $9.6M in Funding
As reported by MedCity News:
A group of entrepreneurs developing a network so that different healthcare facilities can more easily share patient information has completed $9.6 million fundraise in a two part Series A round led by Google Ventures and FPrime Capital. PatientPing will use the funding to increase the number of states where it has a presence and to add staff.
Other investors that contributed to the round include First Round Capital and SV Angel.
Providers receive “Pings,” real-time notifications, whenever their patients receive care at any facility that is a part of the national PatientPing network. At the facility where patients are getting care, providers receive guidelines that include contact information for others on the patient’s care team, helpful instructions from the care team, and patient visit histories. The idea is that by sharing this information when it is needed, providers will seamlessly coordinate their patient’s care... READ MORE
MAVRCK Closes $5 Million
Fueled By a Year of Rapid Growth, Micro-Influencer Marketing Company to Use Funding to Change the Way Brands Engage on Social
MAVRCK, the micro-influencer marketing platform for premier brands, today announced that it has raised $5 million in venture funding from Kepha Partners and GrandBanks Capital. The company, which powers brands to both identify and activate their most influential consumers at scale across multiple social networks, will use the funding to accelerate its growth as it continues to change the way brands engage consumers on social.
“MAVRCK is transforming digital marketing and advertising through its ability to drive measureable conversions on social and deliver authentic, targeted audience engagement independent of ad-blocking software and changes to social networks’ algorithms,”said Jo Tango, founder and partner, Kepha Partners. “As consumers’ use of social media continues to grow and mature, thecompany’s white-label micro-influencer marketing platform is one of the most effective ways to help brands reach their target customers and drive real business results.”
This funding, which brings the company’s total amount raised to $8.3 million, is just the latest milestone in a year filled with significant achievements. Along with opening its new headquarters and nearly tripling its team in size, MAVRCK officially launched its free Fan Grader analysis tool for brands to identify influential Facebook fans. The Company was awarded U.S. Patent 9026594 for the algorithm driving the company’s influencer activation engine, and unveiled its Instagram integration to its platform, analyzing more than one million posts in just the first two weeks of launching.
“Over the last year, we’ve focused on validating the micro-influencer model at scale with a number of leading brands and strategic industries,” said Lyle Stevens, CEO and co-founder, MAVRCK. “Now that we’ve proven one micro-influencer can get three friends to convert around a brand’s marketing objective, we’ve raised additional funding to grow our team in order to expand aggressively within target industries.”
Since December 2014, MAVRCK has grown its impressive customer roster to include more than 30 premier brands such as Gillette, Hershey’s, Bota Box, Hydro Flask and major agency partnerships with Mullen Lowe and GroupM, among others. MAVRCK has also activated more than 1 million micro-influencers to help companies to drive word-of-mouth at scale across Facebook, Instagram and Twitter.
“Working with MAVRCK, we’ve been able to engage 600% more consumers than the Tom’s of Maine official Facebook page and Instagram accounts combined,” said Bridget M. Burns, social media strategist, Tom’s of Maine, a leader in natural personal care. “This has helped us outperform paid social media engagement, while collecting valuable feedback on our products and company from our most influential customers. We continue to use MAVRCK’s platform as an always-on strategy that enables us to regularly engage and interact with our micro-influencers, who are helping us spread our passion for goodness.”
For more information on MAVRCK’s micro-influencer marketing platform, which was recently recognized as MassTLC’s 2015 Innovative Technology of the Year in the Sales & Marketing category, please visit: www.mavrck.co.
MAVRCK’s micro-influencer marketing platform powers premier consumer brands to drive word-of-mouth at scale on social media. The company’s proprietary influencer activation engine is trusted by premier brands to identify and activate their most influential customers across Facebook, Instagram and Twitter. For more information, please visit www.mavrck.co or email firstname.lastname@example.org.
--- RELATED: MAVRCK – the Digital Marketer’s Wingman ---
Appcast Raises $5 Million
Lebanon, New Hampshire-based Appcast, a pay-per-applicant job ad exchange, has raised $5 million in funding. Point Judith Capital led the round with participation from IrishAngels and Baird Capital. In conjunction with the funding, Sean Marsh, co-founder and general partner of Point Judith Capital, has been added to Appcast’s board of directors.
CrowdComfort Raises $1.4M
A startup that may have solved the problem of keeping the temperature comfortable for everyone at work (at last!) has raised $1.4 million to expand its approach to more places.
The company, Somerville’s CrowdComfort, has developed a messaging app that lets employees convey when they’ve encountered a problem in the office to the right person. Importantly, the startup has also come up with an indoor mapping approach that relays the precise location where the issue is taking place.
READ MORE from BostInno
Perfecto Raises $35 Million
Perfecto Mobile, the leader in enabling high-quality digital and mobile experiences for enterprises, today announced it has raised a $35 million investment from new investor Technology Crossover Ventures (TCV), with continued participation from existing investors FTV Capital, Carmel Ventures, Globespan Capital Partners and Vertex Ventures. The latest capital infusion will fuel the expansion of Perfecto’s product offerings, which address the need for enterprises to continuously test and monitor their mobile and digital user experiences on real devices under real end-user conditions.
Along with a new round of investment, Perfecto has expanded its executive leadership team with the appointments of Rainer Gawlick as President and Ofer Karp as Senior Vice President of Engineering. Perfecto is also expanding its geographical reach, opening new offices and data centers in Australia, China, Japan and Toronto, Canada.
In today’s connected world, consumer expectations rise as innovation evolves, making a digital engagement strategy critical to enterprise business success. Perfecto is solving a major pain point in the digital and mobile quality markets with the ability to continuously improve the quality of such interactions. Uniquely, Perfecto’s offering, the Continuous Quality Lab™, gives users access to a cloud-based test lab, complete with automated test scenarios that account for real user conditions across real devices. In fact, the company is currently working with nine of the 10 most valuable brands, as listed in the 2015 BrandZ™ Top 100 Most Valuable Global Brands, released by WPP and Millward Brown.
“Increasingly, digital engagement is the way brands directly interact with customers, and as a result, those interactions are having a significantly greater impact on business success. As the pressure to meet customer expectations rises, so does ensuring the quality of each digital experience, especially across mobile channels,” said John Doran, Principal at TCV. ;“With Perfecto’s strong leadership, cloud-based technology, and market vision for superior digital and mobile engagement, we believe the company will achieve breakout growth in the quality market.”
“Customers now expect and depend on high-quality digital experiences when interacting with brands via the Web, mobile apps and IoT devices,” said Eran Yaniv, CEO of Perfecto. “Perfecto has developed leading solutions that help enterprises deliver high-quality digital experiences via our Continuous Quality Lab. I am excited about the partnership with TCV and look forward to working together in growing Perfecto’s global presence, expanding our quality offerings and positioning Perfecto for continued growth and innovation.”
In the past year, Perfecto has rapidly grown and reached a number of milestones. From a product perspective, Perfecto recently launched the Wind Tunnel™, enabling automated testing against real user conditions, and reports that over 1.2 million tests run monthly in its Continuous Quality Lab™. The company has doubled its workforce this year with high growth projections for next year. Its customer base has rapidly grown in the past year to include leading brands like Discover, Weather.com and Sky and is seeing record expansion within existing customers.
QD Vision Closes New Funding Round
-QD Vision, the leader in quantum dot technology for QLED displays, today announced a new round of investment led by Tsing Capital and BASF Venture Capital, prominent venture capital entities in Europe and China focused on innovative cleantech companies. This new round of QD Vision financing – totaling approximately $22 million from both existing investors and new investors – will be used to invest in further development of intellectual property inventions and to support the company’s accelerating growth.
Cybric Closes $1.3 Million Investment
Cybric, the provider of continuous security delivery fabric for today’s modern enterprise infrastructure, today announced it has closed $1.3 million in seed funding led by Petrillo Capital and accompanied by angel and strategic investors. Cybric is pioneering the next-generation of cyber-automation and threat remediation and will use this seed funding round to accelerate research and product development.
READ MORE from the Company's Announcement
Eager Raises $1M
Per Sara Castellanos of BBJ, Eager, a Cambridge-based software startup that was inspired by the Apple App Store and founded by former employees of HubSpot, has landed $1 million in investor funding.
READ MORE from BBJ
Tego Secures $6 Million
Tego, Inc., a developer of smart asset solutions for managing digital data in the Internet of Things, announced today that it has secured $6 million in funding from a group of individual investors in order to accelerate the delivery of Tego's patented solutions to the health sciences industry.
With this funding, Tego will further extend its passive RF-enabled technology to health sciences organizations, which are under increasing pressure to deliver quality products more quickly and with more manageable total costs of fulfillment than ever before. Meeting this demand requires innovative solutions for managing digital data on physical assets—in "smart factory" manufacturing settings and unforgiving ebeam and gamma sterilization processes.
Tego's RF solutions survive sterilization while managing critical product, packaging, and even transport data and information from the initial point of manufacturing through to clinical use. The technology enables key benefits to support product safety, security, and lifecycle management, including:
- Encrypted or password-protected information for controlling read-write capabilities
- Digital certificates as proof of authentication
- Chain of custody information for epedigree
- Compliance with the FDA's UDI mandate for medical devices
- Real-time visibility of product condition
- Automatic updates of events such as product recalls or replacements
- Authentication to avoid counterfeit parts usage
Tego already has more than 50 customers in the aerospace industry, where customers use Tego's products on components installed on Airbus and Boeing aircraft. Tego provides rugged, high-memory semiconductor chips and tags that can be attached to or manufactured into the component, allowing continuous lifecycle data storage and updating at the point of use. Airlines have demonstrated that standard maintenance checks can be completed with 90% less labor time.
"Tego's mission has always been focused on bringing digital intelligence to physical assets in order to help customers reduce costs, increase operational efficiencies, and mitigate risks" said Timothy Butler, CEO of Tego. "With this additional funding, we will further accelerate our delivery of RF-enabled smart asset solutions to help more customers realize unforeseen value in every industry we serve."
Tego's solution uses proprietary semiconductor chips to provide RF connectivity, data management and storage, sensor functionality, and security of data stored. The solution does not require external power or Internet connectivity, because it efficiently harvests power when it is interrogated by an RF reader. It also incorporates a data bus that allows it to provide power to and read data from a variety of off the shelf sensors. The company's semiconductor and software products are based on an extensive intellectual property portfolio that includes 27 issued patents and dozens of pending patents.
About Tego, Inc.
Tego makes the world smarter. With an RF-based platform that helps its customers manage digital data on physical assets, run analytics at the point of need, and deliver insights for better business decisions—because better decisions reduce risks, increase safety, and improve the reliability of products we use every day, all over the world. For more information, visit us on the web www.tegoinc.com and connect with us on Twitter, LinkedIn, and Facebook.
M.Gemi Raises $18 Million
Per Scott Kirsner of BetaBoston, M.Gemi has raised $18 Million.
Only seven months after announcing a $14 million funding round, Boston footwear merchant M. Gemi has deposited another $18 million to its bank account. The new funding comes from the London office of Accel Partners, along with earlier investors including Cambridge-based General Catalyst Partners, Forerunner Ventures in San Francisco, and Boston-based Breakaway.
M. Gemi markets limited-run women’s shoes, all made in Italy, and all bearing the M. Gemi brand. Founder and CEO Ben Fischman previously ran the “flash sale” site Rue La La and hat retailer Lids; president Cheryl Kaplan worked with Fischman at Rue La La. Fischman says that M. Gemi is approaching 60 employees at offices in Boston, New York, and Florence, Italy. READ MORE from Kirsner
SnapApp Raises $12M Series A
SnapApp, the leading SaaS platform used by B2B marketers to create, publish, manage, and measure interactive content, has received $12 million in Series A funding from Providence Equity Partners.
“Buyers are increasingly demanding visual and interactive content that educates and guides them in evaluating solutions to their business challenges,” says Seth Lieberman, CEO of SnapApp. “Historically building these kinds of experiences has been slow, expensive, and hard to scale. Marketers need solutions to quickly and easily build interactive experiences that deliver more value for their audiences and more value for themselves.”
SnapApp’s “marketers-first” platform delivers the industry’s widest range of interactive content types – including calculators, assessments, quizzes, interactive infographics, and even interactive videos – in a single place. “At CEB, we’re always trying to challenge our customers – and we needed a solution that empowered our marketing team to build experiences that not only conveyed the value of CEB but also drove marketing results for the sales team,” says Rob Chen, CMO of CEB. “With SnapApp, the creation process has been shortened from months to minutes while giving us a holistic and analytical view into what’s working and why.”
With this round of funding, SnapApp will make creating these kinds of engaging experiences more accessible than ever to B2B marketers – without the time and expense of custom development or agency outsourcing. SnapApp’s partnerships and integrations with leading players in the MarTech stack, including Oracle, Salesforce, Marketo, HubSpot, and more, enables marketers to create experiences and content that drives more revenue, faster.
“The SnapApp team has invested deeply in understanding and meeting the needs of B2B marketers focused on delivering ROI,” says Mark Hastings, partner at Providence Equity. “The platform is a key addition to the marketing technology stack, serving as a bridge between content creation activities and business metrics. We believe that experiences will increasingly be front and center for marketers of all shapes and sizes, and SnapApp’s impressive traction is proving that out.”
SnapApp is an interactive content creation platform that enables marketers to boost results by 2-3x across all their existing marketing programs. SnapApp empowers marketers to create, deploy, manage, and measure a wide range of interactive content across multiple channels, with full customization and design control to ensure content looks great on any device. SnapApp customers include Oracle, Cisco, EMC, CEB, Blackbaud, PTC, and Equifax.
Litmus Takes $49M Investment from Spectrum Equity
From Litmus Founder & CEO, Paul Farnell:
Today, I’m excited to announce that we’re setting ourselves up for even bigger success in the next 10 years. We’ve taken a $49 million investment from Spectrum Equity. READ MORE
ClearSky Data Raises $27 Million Series B Funding
ClearSky Data, provider of a global storage network that manages the entire enterprise data lifecycle, today announced it has raised $27 million in a Series B investment round led by Polaris Partners, with a strategic investment from Akamai Technologies. Previous investors General Catalyst and Highland Capital Partners also participated in the funding, which ClearSky will use to grow its sales, marketing and operations organizations, and add new points of presence (PoPs) in major metro areas. The round brings total investment in the company to $39 million.
The investment in ClearSky comes as the company breaks new ground with its managed service delivery model for enterprise storage, which combines the performance and availability of primary storage with the economics and scalability of the cloud. Polaris Partners recognizes this on-demand model represents the future of enterprise infrastructure and has a track record in building large, successful companies that transform industries. Akamai’s strategic investment in ClearSky reflects its belief in the company’s innovative approach to primary storage, which will help enterprise IT become more agile and take advantage of hybrid cloud adoption.
“Managing primary storage is a huge and poorly served challenge in the enterprise infrastructure market. Legacy systems have failed to address customer needs and no one has figured out how to leverage the economics and agility of the cloud – until now.
ClearSky has addressed this challenge head-on, creating a breakthrough software-as-a-service (SaaS) offering for primary storage,” said Dave Barrett, managing partner of Polaris Partners. “We’ve entered the next generation of the enterprise and ClearSky has a great opportunity to build the next major infrastructure company.”
The storage market is being transformed by the growth of cloud computing and the availability of new on-demand services. ClearSky leverages these elements to solve the challenges of traditional storage systems, which are costly, complex remnants of legacy infrastructure unable to support today’s huge and growing data footprints. Because status quo data storage infrastructure limits business flexibility, storage has become not only an IT priority, but also a boardroom priority. ClearSky’s fully managed service automatically caches data across a network of geographically distributed layers, making data available to enterprise users where and when it’s needed.
Andy Champagne, vice president and chief technology officer, Akamai Labs at Akamai Technologies said, “ClearSky’s global storage network is the way for enterprises to move their data to the cloud—with the security, performance and availability they need to succeed. At Akamai, we know firsthand how to build a global network that meets the stringent requirements of enterprise customers, and we look forward to working with the ClearSky team to help customers worldwide as they adopt this new approach to enterprise storage.”
Dave Barrett will join the ClearSky board of directors and Andy Champagne will join as a board observer. ClearSky board members also include Sean Dalton, general partner at Highland Capital Partners; David Orfao, partner at General Catalyst Partners; and market leaders Paula Long and Jit Saxena.
The ClearSky global storage network combines primary storage, backup and disaster recovery with on-demand scaling and agility. It automatically caches data – moving cold data to the cloud, keeping warm data in metro-based PoPs within 120 miles of customers, and storing a small portion of hot data on-premises. Customers retain the performance and availability of a local storage array with the comprehensive security, low latency and high availability required for enterprise applications.
“Polaris Partners and Akamai Technologies deeply understand what it means to create a breakthrough model for enterprise infrastructure,” said Ellen Rubin, CEO and co-founder of ClearSky Data. “We value their expertise as we focus on fast growth and market expansion during this next phase of our company’s development, and are excited to deliver a global service that will change enterprise storage forever.”
Confer Raises $17 Million in Series B Financing
Confer, a leader in endpoint detection and response (EDR), today announced it has secured $17 million in Series B financing led by Foundation Capital with participation from existing investors, Matrix Partners and North Bridge Venture Partners. The investment allows Confer to continue its rapid expansion within the enterprise security market.
Since 2014, Confer has achieved a 1,300 percent growth in sales and a 2,400 percent growth in revenue, with production deployments across a wide number of verticals, including technology, retail, finance, pharmaceuticals, energy and communications. Confer outperforms competitors in detection and prevention as proven in independent trials and head-to-head comparisons.
“Confer’s exceptional detection and prevention capabilities against sophisticated malware, combined with our lightweight footprint and simplicity, have made our solution ideal for the largest and most demanding enterprises in the world as well as small and medium-sized companies. This strategy has really paid off in 2015,” said Mark Quinlivan, chief executive officer for Confer. “Our customers now range in size from 100 to well over 100,000 endpoints and servers protected.”
Unlike competitive products, Confer allows customers to proactively detect, prevent and investigate attacks on the endpoint with a simple-to-use, integrated solution. Confer’s lightweight sensor monitors the host for the specific tactics, techniques and procedures that attackers use and feeds those behaviors to Confer’s cloud-based “dynamic behavioral analysis” engine. The behavioral analytics engine catches over 99 percent of attacks against the endpoint. In contrast with many EDR solutions that are detect-only, Confer can block specific behaviors, disrupting the attack before information is lost or damaged.
“After researching the endpoint security space extensively, I’m convinced that customers are looking for an easy, lightweight, but comprehensive solution—one that prevents attacks and enables incident response—for protecting employees on all their devices,” said Aditya Singh, partner with Foundation Capital. “The other EDR vendors we looked at were too narrow. Confer is the only company we have seen that has the breadth of features combined with proven traction within large-scale production environments. Confer is changing how customers think about endpoint security, providing endpoint security without tradeoffs.”
Confer’s headcount is also growing fast, having doubled the number of employees since 2014. Key hires in 2015 have included Chief Financial Officer Dave Gamache, who joined Confer from Airvana Network Solutions (now part of Ericsson). Confer has also made a number of key hires in sales and marketing.
“It’s time to prepare for a new endpoint strategy. Security and risk professionals should consider new endpoint security solutions that are better prepared to address today’s overwhelming threat landscape,” said Chris Sherman, analyst with Forrester Research in his recent report Prepare for the Post-AV Era Part 1. “In the past, endpoint security products that were focused on providing deep visibility lacked the ability to actually block malicious code execution or behaviors. This is changing: a handful of vendors are combining varying levels of analytics with control to identify and block malicious activities as they occur.”
This Series B funding round brings the total venture capital investment in Confer to $25 million. Confer secured $8 million in Series A financing from Matrix Partners and North Bridge Venture Partners in January 2014. For more information about Confer, please visit www.confer.net or contact email@example.com.
Confer provides advanced threat prevention and incident response for laptops, servers and mobile devices. Built on an open, cloud-based platform, Confer enables enterprises to leverage the “power of the crowd”, without a steep learning curve or investment in additional security staff. For more information, visit www.confer.net.
About Foundation Capital
Foundation Capital is a venture capital firm dedicated to the proposition that one entrepreneur's idea, with the right support, can become a business that changes the world. The company is made up of former entrepreneurs who set out to create the firm they wanted as founders. This forward-thinking team of VCs has helped companies like Lending Club change the way money is lent and borrowed, Sunrun reinvent the residential clean energy market, and Netflix revolutionize media distribution and consumption, among many others.
Foundation Capital is currently invested in more than 60 high-growth ventures in the areas of consumer, information technology, software, digital energy, financial technology and marketing technology. These investments include AdRoll, Beepi, Bolt Threads, DogVacay, Kik, ForgeRock, Lending Home, Localytics and Visier. The firm's twenty-six IPOs include Lending Club, OnDeck, Chegg, Sunrun, MobileIron, Control4, TubeMogul, Envestnet, Financial Engines, Netflix, NetZero, Responsys and Silver Spring Networks. Read more at http://www.foundationcapital.com.
Desktop Metal Raises $14M
Per Scott Kirsner at BetaBoston, Desktop Metal, a 3D printing startup, said it had raised $14 million from a group of investors including NEA, Kleiner Perkins, Founder Collective, Lux Capital, and Bolt. READ MORE
ArtLifting Raises $1.1 Million
Per TechCrunch, ArtLifting, an online art marketplace for homeless, disabled and other disadvantaged people to sell their artwork, recently raised a $1.1 million seed round from Toms Shoes founder Blake Mycoskie, angel investor Joanne Wilson, author and entrepreneur Eric Ries, social impact accelerator Tumml and others. READ MORE
Outlearn Raises $2M
Outlearn today unveiled its cloud publishing platform and curated content catalog for professional developer learning. Now developers can use Outlearn to discover and share the best learning content from across the web, publish original content publicly or privately, and assemble custom learning paths for trackable team learning in the enterprise. The company also announced that it has received $2 million in seed financing from General Catalyst Partners with participation from Paul Sagan, former CEO of Akamai Technologies.
New Vision for Professional Developer Learning
According to IDC, the world’s 29 million professional technology workers say their most vexing challenge is keeping current with new technologies. Chronic talent shortages are forcing managers to hire less-qualified candidates who then have to climb an even steeper learning curve, often with little help beyond self-directed web searches and asking busy colleagues for assistance. Technical books and online video tutorials categorically fail to address the crucial last mile of “this is how we do it here” knowledge that developers need in order to become a fully productive member of a specific team.
“It’s time to stop forcing talented engineers to fend for themselves and start a revolution in technical upskilling,” said Jeff Whatcott, Outlearn co-founder and CEO. “We’re giving pro developers and their managers the tools the need to efficiently organize, discover, and consume the great technical content from across web and the essential tribal knowledge tucked away on corporate wikis and in the minds of experienced engineers.”
The Outlearn Platform
The Outlearn technical publishing platform allows domain experts to publish original training articles, recommend helpful web links, and organize learning content from many sources into online learning paths that carefully guide learners from concept to concept, tracking progress as they go. Unlike traditional learning systems, Outlearn combines a free learning publishing platform, a fast-growing catalog of free developer learning content, and a community of expert curators and contributors.
$2M Seed Financing
Outlearn is backed by a $2 million seed investment led by General Catalyst Partners with participation from Paul Sagan, former CEO of Akamai Technologies. Proceeds from the investment are being deployed to develop the Outlearn service and content catalog.
“Technical training and education is one of the last domains to be significantly disrupted and reimagined by modern technology,” said Donald Fischer, Venture Partner at General Catalyst Partners. “We are excited to back a team that has a compelling vision for positively transforming the way professionals learn, and we look forward to working with Jeff and Will as they realize their vision.”
Pricing & Availability
Outlearn is free today for individuals to both publish and consume public learning content. Premium services include team learning experiences, private learning, and organization-level content publishing starting as low as $15 per person per month.
Outlearn is a publishing platform for developer learning content. Domain experts and platform providers use Outlearn to create and publish modular learning content. Development teams use Outlearn to assemble and deliver custom learning paths from public content and/or self-published private content. Unlike traditional learning systems, Outlearn offers an open content format, an open content catalog, and a modern learner experience.
Squadle Raises 1M
Cambridge, MA-based Squadle announced today that it has secured one million in seed funding for their back-of-house data platform for the fast food industry. Since its launch in January of 2014 Squadle has been steadily growing as they bring new and impressive clients into their platform.
“Squadle replaced my antiquated paper systems in minutes. It saves me time and my managers love it. It’s a no-brainer.”
— Darren Chu, Sonic Franchisee
This new round of funding will serve to hire more enterprise sales staff, support staff, and developers, as well as product development of new features.
What is Squadle?
There is one thing managers in the 250 billion dollar fast food industry have in common: They spend a huge amount of time and effort recording and managing mandatory back-of the-house compliance data for their restaurant locations.
See Video Demo Here
Since the beginning of time, back-of-house resturant data has been collected in what looks like giant phone books that are written and recorded in by hand. Once the data is in the book, it then has to be manually typed into a computer to have any actionable data that makes it useful. For years this system has not changed at all. Sounds like fun? It’s not.
Squadle takes the book out of the picture and has replaced it with its platform of sensors and cloud-based tech. Squadle pulls this data into its platform and makes it accessible for its users from anywhere, giving managers the ability to make quick actionable decisions and see this data in a beautiful and meaningful way.
Who is using it?
Right now Squadle is being used by brands like Sonic Drive-In, Dunkin’ Donuts, Chick-fil-A as well as many other national and international brands. It’s even used in hotel chains like Hyatt and some of the largest food delivery companies in the world. Any business that needs to manage their back-of-house activities can use Squadle.
“We originally built Squadle to solve our own problems. We soon realized that most companies were still collecting data on paper books as well, and they wanted a modern, turnkey solution like what we had built.”
— Le Zhang, Founder and CEO
Actionable Data for Managers & Restaurant Owners
In the end, the most important thing to restaurant owners is giving their customers an amazing experience with great food and service. Squadle gives restaurant owners and managers detailed, clean and actionable data, allowing them to focus on what matters most---their customers. Squadle is simple, intuitive, and extremely powerful. It can be scaled from one location to thousands.
About the Company
Headquartered next to MIT in historic Cambridge, MA, Squadle, Inc. is the leading pioneer in automated accountability and compliance products for the restaurant industry.
With over 20 years of leadership experience in hospitality, software, and hardware, we focus on our customer’s needs and how to solve them quickly and effectively. We understand the importance of great support, so our products are always backed by first-class customer service. We’re proud to have the highest response-times of any vendor in the industry, as voted on by our customers.
Our goal is simple: to improve operations, compliance, and communication for your company through cloud technology and automation.
Ourglass Announces $1.6 Million in Seed Funding
Today, iOS app Ourglass announces $1.6 million in seed funding led by General Catalyst Partners and other investors. Ourglass is all about privacy, as users create an intimate social network for their 12 closest friends to share what they are doing on a daily basis. The app is now available exclusively in the Apple App store for download.
As social networks have grown, they have invariably turned into "interest feeds" that harness users' ever-expanding interest graphs to show relevant posts. While this has revolutionized how we engage with media content, it has lagged in one vital area: strengthening relationships with close friends and family.
Ourglass co-founder and CEO, Eric Adams, explains, "Ourglass is about privacy. Our vision is to connect people to their inner-circle, giving them an intimate space to share their lives with the people they're closest to. Social media began by connecting the world, and successfully formed broad webs of acquaintances. Our lives are now semi-public theater, as every detail is shared to our massive friend or followers list. As a result, people have become increasingly cautious about how much of their lives they are willing to share. Ourglass brings us back to basics, focusing our attention on our 12 closest friends."
Ourglass offers relief from an increasingly public world, letting users privately share HD pictures with a group of up to 12 friends. "The app gives users the freedom to post stories of their day, free from prying eyes and competition for likes. We provide an intimate space for people to share their life, in an authentic way, with those they're closest to," explains Adams. Ourglass designer, Thomas Krueger, adds, "It's all about letting you post what's really going on in your day without making it a popularity contest. It's a place you can turn to answer 'what's my sister up to?' or 'how's my buddy's trip going?'"
Ourglass ensures privacy by only sharing a users' posts with their approved inner-circle. By limiting users to 12 trusted friends, the app provides a uniquely intimate space that quells patterns of social land-grab prevalent on other social platforms. The app also saves stories so users can go back in time and relive memories. "Ephemeral content is great if you want to send funny pictures that you want to disappear, but there are a lot of memories that we want to save and relive with friends," explains Krueger.
Instead of a traditional feed that aggregates content, Ourglass introduces an innovative silo interface. There are 12 silos in the interface – one for each member of a users' inner circle. Users can tap on each silo and explore that friend's day. This eliminates having to browse through a feed to find interesting content – if one is interested in seeing what someone is up to, tap on their image and browse. With this approach, users feel encouraged to create as much content as they please without the fear of generating spam.
In the coming months, the company plans on rolling out additional features, including video, and an option for users to create additional circles of friends.
Download Ourglass in the Apple Store. (In-app purchases available)
To learn more about Ourglass, visit http://app.ourglass.co/. For additional updates from Ourglass, follow @appOurglass on Twitter and visit https://www.facebook.com/ourglassapp.
Clavis Insight Receives $20 Million Growth Equity Investment
Clavis Insight, the world’s leading provider of eCommerce store analytics to consumer goods companies, announced today it has received a US$20 million growth equity investment from Accel-KKR, a technology-focused private equity investment firm and existing investors.
The investment will be used to support the Clavis’ strategic growth initiatives including the expansion of sales and customer support efforts in United States, Europe and China and the continued innovation in its eCommerce Intelligence platform that is used by the world’s top 10 consumer packaged goods (CPG) companies and half of the next 100 CPG or fast moving consumer goods (FMCG) companies. For a video with more information on Clavis Insight’s solution, please visit: http://clavisinsight.com/?s=video
“We have built Clavis into the industry standard in eCommerce analytics for CPG brands by delivering a functionally rich and technologically robust platform that can be used globally. Today, Clavis monitors online retailers across more than 20 countries for our customers,” said Garry Moroney, chief executive officer, Clavis Insight. “The investment partnership with Accel-KKR allows Clavis to effectively capitalize on the growth opportunities ahead of the business, significantly broaden its leadership position in the industry and better support our consumer goods customer base.”
Clavis is poised to take advantage of the continued growth in online shoppers and the significant increases in online shopping in developed and emerging markets. According to a 2015 United Nations Conference on Trade and Development report, approximately 1.7 billion consumers will shop online by 2018, representing close to 20% of the world’s population.
“Clavis has created a leadership position in the market by uniquely tackling the most complex challenges global CPG brands face in measuring, monitoring and optimizing brand performance in the eCommerce channel. Accel-KKR is excited to partner with the team at Clavis to drive its expansion globally, which in turn will allow the company to further support its customers,” said Greg Williams, managing director, Accel-KKR.
About Clavis Insight
Clavis Insight is the Industry leader for online store analytics delivering actionable data, analysis and insights to enable consumer goods brands to track and optimize their online channel presence and performance. The eCommerce intelligence platform analyses everything consumers see in online retailer stores to quickly identify the actions brand owners and manufacturers need to take to drive profitable eCommerce growth, protect their brands and beat the competition online. For more information: www.clavisinsight.com.
Accel-KKR is a technology-focused investment firm with $4.0 billion in capital commitments to its current funds. The firm invests primarily in software and IT-enabled businesses well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions from minority-growth investments to buyouts, recapitalizations, divisional carve-outs and going-private transactions. The firm has offices in Menlo Park, Atlanta and London. For more information, please visit www.accel-kkr.com.
CyPhy Works Closes $22 Million Series B
CyPhy Works, the fast-growing drone startup launched by iRobot co-Founder Helen Greiner, today announces the close of a $22 million Series B investment round. The new financing was led by Bessemer Venture Partners (BVP), and includes participation from strategic partners Motorola Solutions Venture Capital, UPS Strategic Enterprise Fund, and Draper Nexus. Existing investors Lux Capital and General Catalyst Partners also participated in the round. In September 2013, CyPhy Works announced $7M funding led by Lux Capital.
“We are proud to add a successful global entrepreneur like Felda Hardymon and world-renowned VC firm like Bessemer Venture Partners to our existing team of high caliber partners,” said Helen Greiner, CyPhy Works Founder and CEO. “We are also looking forward to working closely with our new strategic investors to accelerate adoption of drones into public safety, construction, agriculture, journalism, mining, defense, and other fields.”
“I’m also very excited to announce that this investment will fuel the commercial launch of our teth-ered Persistent Aerial Reconnaissance and Communications (PARC) vehicle system,” said Greiner. PARC is powered from the ground through a microfilament tether allowing 24/7 flight — a “near-earth satellite system”. The tether also provides secure command and control and video transmission, precluding spoofing or hacking. PARC’s extended flying time enables companies to make infor-mation-driven decisions using continuous real-time access to data and analytics.
“CyPhy Works has produced the first truly differentiated drone and as we see more industries lever-age this technology, we expect they will capture significant market share,” says Felda Hardymon, Partner at Bessemer Venture Partners, who as part of the investment, has joined CyPhy Works Board of Directors. “Bessemer’s mission is to back the world’s most talented entrepreneurs, and we’re very excited to partner with Helen and the experienced team of roboticists at CyPhy Works.”
In addition to the launch of PARC, the new investment will fund hiring in the engineering, sales, mar-keting, and customer support functions.
About CyPhy Works
CyPhy Works is a leading robotics company developing robots for large industries such as defense, oil and gas, agriculture, entertainment, law enforcement, and mining. CyPhy (pronounced: Sci-Fi) is a contraction of Cyber and Physical both essential elements to a robot. Our mission statement de-scribes our philosophy: Our community inspires; Our team creates; Our robots empower. For more information please follow us on Twitter
HelenGreiner, CyPhyWorksInc and visit http://www.cyphyworks.com
About Bessemer Venture Partners
Bessemer Venture Partners (BVP) invests in early-stage and hyper-growth startups, partnering closely with entrepreneurs to build durable businesses. BVP is a global firm with offices in Menlo Park, San Francisco, Cambridge, New York, Bangalore and Herzliya. With $4 billion under man-agement, BVP invests anywhere from $100,000 to $75 million in innovative companies like Pinter-est, Twilio, Box, LinkedIn, Shopify, Yelp, Skype and CornerstoneOnDemand. Over 100 BVP com-panies have gone public – in the last three years alone, BVP has had 46 exits (IPO and M&A) and made new investments in more than 85 companies. Learn more at www.bvp.com and follow us on Twitter @BessemerVP.
Bit9 + Carbon Black Raises $54.5M
Bit9® + Carbon Black®, the market leader in Next-Generation Endpoint Security (NGES), today announced it recently closed $54.5 million in Series F funding. The company will use investment to fuel its accelerating growth, product innovation and international expansion.
The round, the largest in the company’s history, was led by current investor Accomplice’s new EarlyAccess program. All of the company’s other existing investors—.406 Ventures, Blackstone, Highland Capital Partners, Kleiner Perkins Caufield & Byers, and Sequoia Capital—also participated. New investors were Evolution Equity and Founders Circle.
The funding comes as the company expects to end 2015 with record results, including:
- $70M+ in revenue
- 70 percent annual growth
- 7 million+ software licenses sold
- Approaching 2,000 customers worldwide
- 60+ managed security service provider (MSSP) and incident response (IR) partners
Bit9 + Carbon Black started with a government cyber-security grant and has dozens of security experts, many of them trained by the NSA, CIA and FBI.
“Protecting the endpoint is the number-one issue in cyber security today as organizations have realized that the network is not the target of advanced threats; it’s their endpoints—where a company’s digital information lives,” said Patrick Morley, president and CEO of Bit9 + Carbon Black. “Many vendors are trying to get into this space, including network security vendors, IT operations companies, and small startups. We invented the NGES market, and we have more success and experience in it than anyone.
“We’ve grown into the largest pure-play NGES company. Our business model is solid because we’re driven by predictable recurring subscription revenue. We were voted Best Endpoint Protection by security professionals in the SANS Institute’s Best of 2014 Awards, and a 2015 SANS survey found that 68 percent of incident response professionals are using or evaluating Carbon Black,” Morley said.
“The endpoint is the next great wave in cyber security, and that’s why we increased our investment in Bit9 + Carbon Black to fuel the company’s ongoing leadership in this vital sector,” said Jeff Fagnan, founder of Accomplice, formerly known as Atlas Ventures. “The need for effective endpoint security has never been greater, and no company meets that critical need the way Bit9 + Carbon Black does.”
About Bit9 + Carbon Black
Bit9 + Carbon Black is the market leader in Next-Generation Endpoint Security. We have sold more licenses, have more experience, and more customers than any other NGES company because our solution is the most effective way to prevent, detect and respond to advanced threats that target users, servers, and fixed-function devices. That’s why more than 60 MSSP and IR leaders, including Dell SecureWorks, EY, Optiv and Solutionary, have chosen our technology as a key component of their security offerings, and 25 of the Fortune 100 rely on us as a critical element of their advanced threat defense and compliance strategies. By the end of 2015, we expect to achieve $70M+ in annual revenue, 70 percent growth, 7 million+ software licenses sold, and almost 2,000 customers worldwide. We were voted Best Endpoint Protection by security professionals in the SANS Institute’s Best of 2014 Awards, and a 2015 SANS survey found that 68 percent of IR professionals are using or evaluating Carbon Black.
Bit9 and Carbon Black are registered trademarks of Bit9, Inc. All other company or product names may be the trademarks of their respective owners.
Sonian Secures $7.5 Million
Sonian, a pioneer in cloud-based archiving, today announced that it has secured $7.5 million in venture debt from Ares Capital Corporation. This financing follows rapid corporate momentum marked by a record quarter in sales and profitability, and will be used to fuel product development and staffing efforts as the company continues to expand.
In the past year, Sonian has made huge strides by garnering more than 2,500 new customers to bring its total client count to more than 20,000. These customers see tremendous value in Sonian’s solution to store and manage data in the cloud while ensuring optimal security and ease. To accommodate the company’s rapid growth, Sonian has added 13 employees in the past 12 months, including strategic new hires such as the appointment of Tim McKinnon as Chief Executive Officer.
“As evidenced by our record sales performance and continued growth, our solution is filling a major market need among all types of B2B and B2C organizations and in every industry,” said Tim McKinnon, CEO, Sonian. “We’re seeing dramatic need for line-of-business big data visibility within the enterprise. We are committed to continuing our history of innovation in support of this through investment in new technologies delivered through new products.”
An early innovator in cloud-based archiving, Sonian preserves, protects and presents the world’s information. More than 20,000 customers in 40 countries trust Sonian’s secure platform and fast and accurate search to retain and retrieve valuable data and to protect the intellectual property in business email. Sonian manages more than 20 billion objects in the cloud; every day, 17 million new documents are uploaded to Sonian’s cloud archives, which can run on any of the world’s five largest public clouds. Boasting strong partnerships with the world’s leading technology companies, Sonian combines innovative technology with deep archiving expertise to satisfy customers of all sizes and industries. For more information, please visit www.sonian.com.
Cybereason Closes $59 Million Series C Funding Round
Cybereason today announced the close of $59 million in Series C funding, led by a new investor, SoftBank Corp.(“SoftBank”), a subsidiary of SoftBank Group Corp. (TOKYO: 9984) along with existing investors CRV and Spark Capital. In conjunction with this investment, SoftBank will be the leading distributor of Cybereason’s cyber-security platform in the Japanese market. Per the terms of their agreement, Softbank and Cybereason will also join forces to build a joint offering that enables Japanese organizations to defend themselves against advanced persistent threats and other sophisticated cyber attacks.
“SoftBank works to obtain cutting edge technology and outstanding business models to lead the Information Revolution. Our deployment of the Cybereason platform internally gave us firsthand knowledge of the value it provides, and led to our decision to invest. I’m confident Cybereason and SoftBank’s new product offering will bring a new level of security to Japanese organizations,” said Ken Miyauchi, President & CEO of SoftBank Corp.
“Over the past year Cybereason has proven its ability to defend the world’s largest, most prestigious and most highly targeted enterprises against ultra-sophisticated cyber attacks,” said Lior Div, CEO and Co-founder of Cybereason. “We built our relationship with SoftBank to mirror the success we achieved with Lockheed Martin, which also invested in and built a joint go-to-market plan with us. This model enables us to maintain our agility and focus on innovation while leveraging the credibility, resources and experience that only industry giants bring to the table.”
Amane Kito, Chief Information Officer of SoftBank Corp., added, “Cybereason super-charges the ability of security teams to defend against cyber threats and significantly reduce security costs. What makes Cybereason stand out above hundreds of security start-ups is its transformational approach to cyber-security, which leverages machine learning and behavioral analytics to detect and thwart even the most advanced cyber threats.”
Cybereason’s Series C funding round will further accelerate the exceptional growth it has experienced since launching its platform in February 2014, as reflected in the many awards and accolades it has received. Most recently, CRN named Cybereason an “Emerging Vendor” and one of the “10 Coolest Security Companies of 2015 (so far)”. Earlier this year it was named “Best Emerging Technology” by SC Magazine UK, one of the 10 Most Innovative Companies at RSA Conference 2015, one of “Nine Israeli companies to watch” by Inc. Magazine, one of “12 hot security startups you need to know” by Network World and in 2014 Gartner, Inc. selected it as Cool Vendor in Application and Endpoint Security. Additionally, Cybereason’s research arm – Cybereason Labs, has published numerous reports on attack trends, from DGA based malware to the discovery of a new Ransomware-as-a-Service operation to the discovery of a new APT targeting Microsoft OWA, published earlier this month.
“We seek to partner with the biggest and brightest players that can offer a unique platform for market expansion and the development of new product offerings. We are excited to work with the excellent team at SoftBank to launch an advanced security solution in Japan, a region that values great technology,” continues Div.
SoftBank Corp., a subsidiary of SoftBank Group Corp. (TOKYO: 9984), provides mobile communication, fixed-line communication and Internet connection services to customers in Japan. Leveraging synergies with other companies in the SoftBank Group,
SoftBank Corp. aims to transform lifestyles through ICT and expand into other business areas including IoT, robotics and energy.
Aquto Raises $8 Million
BOSTON, October 7, 2015 – Aquto, a leader in sponsored data monetization, today announced the close of an $8 million Series B funding round led by Iris Capital. The round also included participation from STC Ventures and existing investors Matrix Partners and Northbridge Venture Partners. The company has raised over $16 million to date. Aquto plans to use the funding to expand its global footprint, making mobile data accessible for consumers around the world.
"As we move into the next phase of our business, we are excited to partner with investors that have global experience and unique capabilities that will accelerate our growth," said Susie Riley, Aquto CEO. "The new capital gives us fuel and flexibility to forge partnerships and collaborations with operators, brands and app developers who will help shape the future of the mobile experience."
The explosion of smartphones, social media and content has transformed the lives of billions globally. Recognizing the critical need for connectivity, Aquto is advancing the mobile internet in order to make data easily accessible to consumers. Aquto’s sponsored data approach includes:
- "Zero Rating" – allows mobile customers to engage with online content free of data charges
- "Data Rewards" – allows mobile customers to receive free data from third party sponsors that they can use to browse and stream content on their mobile device
"Sponsored data is the next major step in the evolution of mobile connectivity," said Alexander Wiedmer, Iris Capital Partner. "Aquto's strategic vision brings value to the telecom, publisher and advertising ecosystems and thus aligns well with Iris' own strategic partnerships with Publicis, Orange and STC, global leaders in advertising and mobile."
Aquto is the leader in sponsored data and data rewards with tier one operator deployments in the US, Europe and Asia. Founded in 2012 with headquarters in Boston, provides a frictionless way for app developers, advertisers and marketers to engage with users over mobile through zero rated content/apps and data rewards, and a new way for operators to monetize their data and network assets. For more information, visit www.aquto.com or follow @aquto on Twitter.
About Iris Capital
Iris Capital is a European venture capital fund manager specializing in the digital economy. Since its inception in 1986, the Iris Capital team has invested more than €1 billion in more than 250 companies. Iris has a strategic partnership with Orange and Publicis. It provides active support to its portfolio companies on the basis of its strong sector specialization and experience, and has offices in Paris, Cologne, Berlin, San Francisco, Montreal, Riyadh, Dubai, Beijing and Tokyo. For more information: www.iriscapital.com
About STC Ventures
STC Ventures is a venture capital fund, independently managed by Iris Capital, whose anchor investor is the Saudi Telecom Company. STC Ventures is focused on equity investments in the information technology, telecommunications, and digital media/entertainment sectors; seeking to support the development of innovative technology companies in Saudi Arabia, the GCC, Levant, North Africa and Turkey, in addition to funding globally minded international companies seeking capital and access to the MENA region. STC Group is the largest telecommunications company in MENA, ranked in the top 20 mobile networks in the world, and serving more than 160 million subscribers. www.stcventures.com