Funding

Cohealo Raises $3.1M

Cohealo, an asset mobilization and analytics platform for the healthcare industry has raised $3.1 Million. 

Cohealo helps hospitals use their non-emergency medical equipment more efficiently and save money on their future equipment purchases. READ MORE

Skillz Raises $6M in Financing

Skillz, a San Francisco, CA- and Boston, MA-based provider of a tournament platform where mobile gamers can use their skills to compete for cash and prizes, raised $6m in venture debt and equity financing.

The round was led by Atlas VentureREAD MORE

Superpedestrian Closes $4M Funding Round

Superpedestrian’s Copenhagen Wheel Receives Coveted Red Dot Design and Luminary Awards for Revolutionizing Urban Transportation 

Award comes on the heels of the company closing its $4M funding round from Spark Capital, General Catalyst and distinguished group of individual investors

SINGAPORE and CAMBRIDGE, Mass. (September 26, 2014): Superpedestrian, creators of the Copenhagen Wheel, was honored today when the design world came together to celebrate the laureates of the Red Dot: Design Concept Awards 2014. The Copenhagen Wheel emerged as an award winner from a record 4,791 entries hailing from 63 countries, receiving the “Best of the Best” in the category of mobility. Moreover, of three finalists, the Red Dot jury selected the Copenhagen Wheel as the winner of the Red Dot: Luminary – the highest Red Dot distinction given. 

The award comes on the heels of a new round of $4 million in funding from lead investor Spark Capital, General Catalyst and a distinguished group of individuals including Oscar-winning actor Jared Leto and former Akamai CEO Paul Sagan. The funding will fuel production of the Wheel and the expansion of Superpedestrian’s team of robotics engineers, manufacturing specialists, designers and software developers. 

“Superpedestrian is solving complex problems with remarkable simplicity,” said David Fialkow, managing director, General Catalyst. “The Copenhagen Wheel is an intricate electromechanical device that gives riders incredible amounts of pedaling power and insightful data. Yet, to use it, all you need to do is cycle as you normally would. Superpedestrian has introduced a powerful design that has the potential to transform the way we move around.” 

The Copenhagen Wheel is a self-contained unit that includes a motor, batteries, a powerful computer and a dozen sensors, packaged into a sleek red unit that’s meticulously designed. It powers the rider so that cycling great distances and climbing hills becomes effortless. The Wheel was initially developed at the Massachusetts Institute of Technology’s SENSEable City Lab, in partnership with the City of Copenhagen – one of the world’s most advanced cities for cycling. Superpedestrian has acquired an exclusive license to the technology from MIT and has been further developing the product to bring it to market. It is now manufacturing beta units of its commercial product in anticipation of official release of the Wheel. 

“Consumers today are looking for alternative means of transportation and it takes companies like Superpedestrian that combine a stellar team, creative design and world-class engineering to create unique solutions that are fun, personalized and efficient,” said Santo Politi, co-founder and general partner, Spark Capital. 

Superpedestrian exemplifies a broader technological transformation that is taking place today: digital devices are becoming an integral part of everyday objects and integrating with the built environment. This “embedded intelligence” in the objects that surround us opens the door to completely rethink how we address the problems faced by today’s cities. 

For information about the Copenhagen Wheel and about Superpedestrian, visit: http://www.superpedestrian.com or check out previous coverage on VentureFizz.

 

About Superpedestrian:

Superpedestrian Inc. is a venture-backed company operating out of Cambridge, Massachusetts. It develops lightweight networked vehicles that offer a competitive alternative to cars, and connect drivers, riders, and sensors with the built environment in new ways. Superpedestrian is commercializing the Copenhagen Wheel, the MIT Senseable City Lab's award winning bicycle project. The company is funded by tier 1 venture funds and private investors, and is built around a top team of robotics engineers and designers who work together to create new solutions for human mobility. 

About The Red Dot Design Award:

The Red Dot Award: Design Concept has been organized in Singapore every year since 2005. Up-and-coming new talents, designers and design companies from all over the world have the opportunity to enter their design visions in this competition and measure their own achievements in a global comparison. The world’s most innovative and creative design concepts are assessed by an international panel of experts. This competition sets standards for future trends and paves the way for designers to follow. Being the new geographic, economic and cultural center of the Asian market, Singapore is the ideal location for hosting a competition such as the Red Dot Award: Design Concept, which rates visions for design and innovative concepts. The top prize in this competition is the “Red Dot: Luminary,” which is only awarded to the absolute best of the concepts entered. Further information at: www.red-dot.de/press

 

Fluidnet (now Ivenix) Raises $25M in Funding

Fluidnet Corporation (www.fluidnet.net), an innovator of advanced intravenous (IV) infusion systems, announced today it has closed a $25 million Series C Financing. The round of financing was led by new investor Fidelity BioSciences, which was joined by new investor SCP Vitalife Partners and current investors Cardinal Partners, Easterly Capital and Rockport Venture Partners.

The proceeds from this round will support ongoing development and clinical evaluations as the company moves towards regulatory clearance and commercialization of its simple, highly portable yet fully-featured infusion pump. Fluidnet’s "load and go" external
intravenous infusion control system will help significantly reduce the time needed for IV therapy-related tasks, improve ease of use in home and clinical settings, and enhance safety. The device targets a $5 billion global market... READ MORE

Davison Receives Growth Equity Investment

F.W. Davison & Company (“Davison”), the leading provider of high-performance software solutions for the Professional Employer Organization (“PEO”) and Administrative Service Organization (“ASO”) industries, today announced that it has received a minority growth equity investment from Accel-KKR, a technology-focused private equity investment firm. The investment will be used by Davison to broaden its industry-leading cloud-based technology platform, HRPyramid, and expand its customer support and service operations.  

“Over the last 18 years, we have built Davison into a leading player in the PEO industry by delivering a functionally rich and technologically robust product in HRPyramid,” said Frederick Davison, Davison’s Founder and Chief Executive Officer. “Our team is excited to begin this partnership with Accel-KKR, a firm with a long track record of helping great businesses accelerate their growth. This partnership enhances our commitment to the industry by helping us invest further in our platform capabilities and services to our clients.” READ MORE

Centage Corporation Secures $9.5 million in Series A Funding

Centage ™ Corporation, a leading provider of budgeting and forecasting software (Budget Maestro™) for small and medium sized businesses, today announced it has secured $9.5 million in Series A funding from TVC Capital, a San Diego based growth equity firm focused on investments in, and acquisitions of, software and software-enabled service firms. Also participating in the round was Northgate Capital, a global private equity and venture capital investment firm. Effective immediately, Jeb Spencer of TVC Capital and Jared Stone of Northgate will also join the company’s board of directors.

With a strong user base of more than 600 companies across multiple vertical markets, Centage has grown at a rapid rate with minimal outside capital. The cash infusion will be used to expand the company’s product offering to include a cloud-based solution and bolster marketing efforts both domestically and internationally. Due to increasing financial management pressures, the demand for flexible solutions such as Budget Maestro remains high, thereby presenting an opportunity for the organization to capture a substantial portion of the growing global market.  READ MORE

 

Kinvey Secures $10.8M in Series B Financing

Kinvey (http://www.kinvey.com), the leading enterprise Backend as a Service (BaaS) platform, today announced $10.8M in Series B funding. Driven by new investors NTT DOCOMO Ventures and Verizon Ventures, and joined by existing investors Avalon Ventures and Atlas Venture, this financing brings Kinvey’s total amount raised to date to $17.8M. The new funds will be used to drive product development, accelerate enterprise IT sales, and expand channel partnerships with a focus on cloud and systems integrator partners.

"Mobile is driving the adoption of cloud in the enterprise, and both of these platforms are happening together simultaneously,” said Jeffrey Black, Director, Verizon Ventures. “These are two monumental platform shifts and Kinvey is well positioned to take advantage of these trends through its ability to provide a fully managed platform from front end app development, to connections to existing enterprise applications, delivered as a service via the cloud.” 
READ MORE

ezCater raises $2.16M in funding

As per PandoDaily, ezCater in Boston, MA has raised $2.16M in funding.  ezCater is a nationwide online food ordering service for businesses.  READ MORE

Startup Institute Closes $3 Million In Series A Financing

Startup Institute, an immersive career accelerator geared toward cultivating startup-savvy talent, today announced a partnership with Silicon Valley Bank and an investment by SVB* of $3 million in the company to support worldwide expansion of offices and programs. The partnership will help high-growth companies in the innovation sector find qualified candidates to scale their businesses. 

Startup Institute launched its first program in 2012 to help startups find employees who could help their companies grow. The founders, including Katie Rae, founder of Startup Institute and Chairman of Techstars Boston, observed startup candidates had the "hard" skills, but failed to contribute when hired by startups because they were disoriented and failed to understand how high growth innovative companies work.  The founding team thought this was a fixable problem and sought to create a talent pipeline for high-growth startups.  READ MORE

Veracode Closes $40M Funding

Veracode, a Burlington, MA-based provider of a protection service, closed a late-stage $40m funding round.

The round was led by Wellington Management Company with participation from existing investors.

The company intends to use the funds to accelerate investments in sales, marketing and R&D and to consider acquisition of complementary technologies and a potential IPO.  READ MORE

 

Wellframe Raises $8.5M

Today, Wellframe announced that the organization has closed on $8.5 million in financing, led by DFJ, with participation from Formation 8, Waterline Ventures and Queensbridge Venture Partners. 

Wellframe focuses on enabling healthcare stakeholders to amplify and extend caring relationships through the use of mobile technologies, utilizing artificial intelligence and machine learning to maximize patient engagement. READ MORE

Cignifi Inc. Completes Series B Funding Round

Cignifi, which is helping to meet the needs of more than 1 billion people worldwide who have mobile phones but no access to formal financial services, today announced the closing of a Series B funding round. The capital raise was led by existing investor Omidyar Network, a Redwood City, CA-based philanthropic investment firm, established by eBay founder Pierre Omidyar and his wife Pam, with additional investments from American Express Ventures and other existing investors. Cignifi is based in Cambridge, MA with offices in Sao Paulo, Mexico City and Accra, Ghana.

"We're very excited to have Omidyar Network continue with Cignifi as a strategic partner and to have American Express Ventures join us as an important contributor to our growth plans," said Jonathan Hakim, President and CEO of Cignifi. "This financing represents a major step forward for Cignifi and for our proven big data engine, which delivers credit and marketing scores for consumers using mobile phone behavior data.”  READ MORE

Bridj Raises $4M

As reported by TechCrunch Bridj, the world’s first smart transit system, Raises $4M, Hires Former Chicago & DC Transport Head Gabe Klein To Reinvent Your Commute.  READ MORE

Savant Systems®, LLC Received $90 Million Investment

Savant Systems®, LLC (“Savant”), the leading luxury smart home technology company, today announced that it has received a $90 million investment from affiliates of Kohlberg Kravis Roberts & Co. L.P. (KKR), a leading global investment firm and the founder of Savant, Robert Madonna. The funding will support Savant’s continued product innovation and company expansion.

“Savant is already an established market leader in home automation with clients including some of the most discerning public figures, entertainers and business leaders,” said William Lynch, CEO, Savant Systems.  “With this significant investment, we will bring our award-winning Savant Home experience to a broader audience of consumers worldwide.” READ MORE

Black Duck Software Raises $20 Million

 

Black Duck Software, the leading OSS Logistics solutions provider enabling the deployment and management of open source software (OSS), today announced that it has closed a $20 million investment round led by General Catalyst Venture Partners with all existing investors also participating in the round. The funding will be used to help the company expand its global go-to-market model to fulfill the rapidly growing OSS Logistics market opportunity. In addition, the company today announced the appointment of Stephen Gregorio as its Chief Financial Officer and Executive Vice President.

Gregorio, who played a critical role in securing the new funding, has over 25 years of financial management experience at high-growth technology companies including Verdasys, Interwise Corporation (acquired by AT&T) and Gensym Corporation, among others. Reporting directly to Black Duck President and CEO Lou Shipley, Gregorio will help Black Duck expand aggressively in the fast-growing OSS Logistics sector. READ MORE
 

Mobiquity Adds $5M to its $12M Series B Financing

Mobiquity, Inc., a mobile engagement provider creating innovative solutions that drive business value, announced an additional $5M in funding led by NewSpring Growth, the dedicated technology and business services growth equity fund of NewSpring Capital, along with all existing institutional investors. The new funding is an extension of the $12M Series B round Mobiquity secured in June 2013 (led by NewSpring, Longworth Venture Partners, Sigma Partners and Thomas Weisel Partners), bringing Mobiquity’s total financing to date to $24 million... READ MORE

Tablelist Secures Additional $500K

As reporteed by BostInno, Tablelist, an app where club goers can book tables for bottle service at their favorite venues safely and securely through their mobile devices, has secured an addtional $500,000. READ MORE

DraftKings Closes $41M Round & Acquires StarStreet

DraftKings, Inc., today announced that it has closed a $41 million Series C round of funding led by The Raine Group, with participation from existing investors Redpoint VenturesGGV Capital, and Atlas Venture. DraftKings also announced that it has acquired the principal assets of Cambridge, Mass.-based daily fantasy site StarStreet, further bolstering its status as the largest U.S.-based online destination for daily fantasy sports. Terms of the deal were not disclosed.

DraftKings will use the Series C funding to further enhance its mobile and online destinations, bolster its base of users, continue to attract highly skilled employees, and offer a richer variety of sports with increased guaranteed contest prizes, including its NFL Fantasy Football Millionaire series. In this first-of-its-kind contest, DraftKings will award four players $1 million in four months—the span of the NFL regular season... READ MORE

LTG Exam Prep Platform raises $3M in Funding

LTG Exam Prep Platform, an education technology startup company out of MIT, announced today a combined investment of $3 million from Tal Education Group, Atlas Venture, Jamie McCourt, Margot Carter, Yongjin Group and Zhen Fund. The investment will fund the company’s continuing development of mobile study apps that provide comprehensive yet affordable standardized test prep tools to students around the world. The apps use proprietary algorithms developed at MIT to create personalized study courses for each app user. Cognitive games designed to teach test skills while providing an engaging break from studying are also in development...READ MORE

Fancred Secures $3 Million Funding Round

 

Fancred, an app that lets users capture their favorite sports moments and connect and interact with a community of fellow fans, announced today the completion of a $3 million financing round led by existing shareholders, Atlas Ventures and Militello Capital, as well as first time participant Breakaway Innovation Group. 

 

Fancred was founded by Hossein Kash Razzaghi, Jeremy Merle, and Craig Johnson (all of whom previously worked at Brightcove), and Michael Pan. READ MORE

EnerNOC Announces Investment in WeSpire

EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy intelligence software (EIS), announced today that it has made a strategic investment in Boston-based WeSpire, a software-as-a-service (SaaS) company for businesses seeking an innovative approach to measure and track the positive business impact of engaging employees in sustainability through technology. Under the terms of the agreement, EnerNOC has exclusive rights in the EIS space to market a white-labeled version of WeSpire’s employee engagement application, customized for enterprise and utility customers. By offering the WeSpire application, EnerNOC further enhances its ability to help businesses take a holistic approach to energy management.

With WeSpire, users earn points for actions related to projects that span energy, water, waste, transportation, food, volunteerism, and corporate citizenship. Founded in 2010, WeSpire has already achieved significant traction with notable customers, including eBay, McDonald’s, Unilever, and MGM Resorts International. Through this agreement, WeSpire will be available to all EnerNOC customers. READ MORE

Gazelle Raises $9.5M in Funding

As reported by BostInno, Gazelle has raised $9.5M in funding from existing investors Venrock, RockPort, Physic and Austin Ligon (founder of CarMax).  Gazelle is the nation's leading consumer electronics trade-in site, providing an easy, fast and safe way for consumers to get cash for their unwanted devices.  READ MORE

Acquia Raises Addition Funding from Amazon

Acquia, the digital business company, announced today that it has raised additional funding from Amazon.com, Inc. This investment builds on Acquia’s recent $50 million financing round led by New Enterprise Associates (NEA), and included Split Rock Partners, and existing investors North Bridge Venture Partners, Sigma Partners, Investor Growth Capital, and Tenaya Capital. This additional funding from Amazon.com will help Acquia accelerate development of its solutions for personalization, commerce, and big data marketing on the world's most resilient open cloud platform for Drupal.

“Digital innovation is the core of modern business, disrupting everything -- commerce, campaigns, customer service, employee engagement, civic engagement, and more,” said Acquia CEO Tom Erickson. “The funding we have received, including the additional funds from Amazon, will strengthen our go-to-market efforts and help us deliver the premiere open cloud platform for content, community and commerce... READ MORE

Groupize Solutions Closes an Additional $2 Million in Series A1 Funding

Groupize, Inc. announced that it has secured an additional $2 million in Series A1 funding, from strategic partners including Thayer Ventures and Golden Seeds. With over $4.5 million in funding, the company’s revolutionary group booking and management platform is gaining rapid traction, with more than 8,000 hotels and several travel web sites currently using its cloud-based solution. The additional investments will grow the sales organization, support the growing customer base and accelerate the launch of Instant Book Capabilities for Small Groups.

Thayer Ventures is a Venture Capital firm that invests exclusively in technology companies that focus on the travel and hospitality industry. Representing more than $10 trillion in annual global economic activity, the space is thriving with entrepreneurial activity, and disruptive change is altering the dynamics of the travel business forever. READ MORE

Happier Adds $2 Million

As reported by BetaBoston Happier adds $2 Million in Funding. Happier is a mobile app that encourages people to find happy moments in every day, share with friends and family, and be inspired to do more of what makes you happier. READ MORE

Nasuni Raises $10 Million in New Venture Capital Financing

Nasuni®, a provider of enterprise storage as a service to global organizations, today announced that it has secured $10 million in new venture capital financing. Previous investors Flybridge Capital Partners, North Bridge Venture Partners and Sigma Partners, as well as a strategic investor, all participated in this extension of Nasuni’s C round. The new financing brings the total funds raised by Nasuni to $53 million.

The new funds will fuel Nasuni’s triple-digit growth through increased investments in engineering, sales and marketing. In its most recent quarter, Nasuni’s bookings grew 232 percent over the same period in 2013. In fact, the company has already exceeded 2013’s full-year sales bookings... READ MORE

Gameface Media Inc. Raises $2.5M in Series B Funding

Gameface Media Inc., the largest provider of free amateur sporting event photos in the world, today announced it had secured $2.5 million in an oversubscribed Series B funding round. The funding was provided by a group of prominent individual investors including successful entrepreneurs, hedge fund managers and venture capitalists from Boston, New York and the San Francisco Bay Area. Gameface Media plans to make strategic investments in product development, sales, marketing and client services with this round of funding.

Gameface Media delivers unique branded images of participants looking their best whether that be ripping down a mountainside, running through a wall of fire or finishing a marathon. Rather than charging as much as $60 for these images, Gameface Media provides all photos for free... READ MORE

Progress Ventures Invests in Crave Labs

As reported by Boston Business Journal, Cambridge-based venture capital firm Progress Ventures has invested in Boston-based mobile advertising technology firm Crave Labs.  READ MORE

RedPoint Global Closes $5.2M in Funding

RedPoint Global Inc. ( www.redpoint.net ), a leading provider of data management and digital marketing software, today announced a $5.2 million growth financing led by Grotech Ventures of Vienna, Virginia, with participation from Sagamore Ventures, LLC of Baltimore, Maryland. RedPoint will use the investment to accelerate sales and marketing initiatives around its recently launched Data Management for Hadoop 2.0 product. Already established in the marketing campaign management area, RedPoint plans to leverage its technology to help companies of all sizes quickly and effectively take advantage of Big Data in traditional business areas, including marketing.

RedPoint Data Management(TM) for Hadoop(R) 2.0 was the first ETL and data quality application certified by Hortonworks for its ability to process Big Data natively within a Hadoop 2.0 environment using the YARN architecture. In addition, RedPoint Data Management completely bypasses the need for MapReduce coding thereby enabling any database analyst to efficiently work in the Hadoop environment. Competing solutions are dependent on MapReduce, requiring specialized skills or the need to move data into and out of the Hadoop cluster for processing, defeating the inherent value of Hadoop's data processing advantages. With RedPoint, data is processed directly inside the Hadoop cluster, saving time and improving overall system performance.  READ MORE


EyeNetra Raises $4M in Funding

As per SEC filings, EyeNetra in Somerville, MA has raised $4M in funding.  EyeNetra develops mobile phone eye diagnostics that measures the correction of users' vision. The first device is called NETRA-G, consisting of a low cost clip-on eyepiece that attaches to a smart phone and allows anyone to administer a simple and quick eye test for nearsightedness, farsightedness and astigmatism, and receive measurements for an eyeglass prescription...READ MORE