Funding

Security Innovation Raises $4M

Security Innovation, a cyber security firm specializing in software security, announced today that it has secured an additional $4 million investment to address the needs of their expanding market, led by existing investor Brook Venture Partners (BVP) together with existing investor Gordon M. Burns, Director at Compass Diversified Holdings LLC. The funds will be targeted to further extend Security Innovation’s current portfolio of products and services as the pre-eminent security provider for securing the critical systems on which the world depends.

The Internet of Things (IoT) explosion is powered by software. Since 2002, Security Innovation has specialized in securing software, no matter where it runs – on a mobile phone, in an automobile, on a retail point-of-sale system, or as part of an online enterprise application. With rapidly expanding expertise in crypto and secure communications, Security Innovation is now even better positioned to help organizations ensure that they are not vulnerable at their weakest link – software. READ MORE

 

Metromile Raises $10M in Funding

As per SEC filings, Metromile in San Francisco, CA has raised $10M in funding.  Metromile is building a platform for services designed around the needs of drivers—everything from useful data and insights to a revolutionary pay-per-mile insurance offering... READ MORE

Metromile Raises $4M in Funding

A Bay Area startup called MetroMile Insurance Services LLC has raised $4 million in Series A funding to sell car insurance by the mile, with a high-tech twist.

"The less you drive, the less you pay," says Chief Executive and Co-Founder Steve Pretre. The CEO hopes to incentivize people to make healthy and green lifestyle choices like riding their bikes to work, for example, or using public transportation when reasonable....READ MORE

Nanigans Raises $24M Series B

Nanigans, Inc., the leading worldwide provider of social and mobile advertising software and pioneer in advertising automation software, announced today that it has closed a $24 million Series B financing. The financing is led by Cheetah Mobile (NYSE:CMCM), the world’s leading mobile utility application developer. Also participating in this financing is current investor Avalon Ventures and new investor Wellington Management Company LLP.

The funding follows Nanigans successful transition to a true Software-as-a-Service (SaaS) business model. Said Nanigans co-founder and CEO, Ric Calvillo, “We’ve spent five years developing our advertising automation software, and for good reason. Automating digital advertising allows marketing teams to bring this critical function in-house, resulting in both significant performance gains and cost savings. Nanigans software enables customers to manage, measure, and optimize their online advertising across multiple channels. Our customers run over $500 million in annualized ad spend using our software, confirming our leadership position.” READ MORE

 

Cortex Raises $500k

CORTEX IS ARTIFICIAL INTELLIGENCE FOR SOCIAL MEDIA MARKETING

 

Company Exits Two-Year Stealth with $500K Round, Customers, and Aim to Eliminate Complexity

Boston, MA - March 25, 2015 - Cortex exits a two-year stealth period today with $500K in early-stage funding, disruptive technology, and multiple satisfied customers. Cortex is artificial intelligence for social media marketing that helps brands increase their return on investment in social via consolidation of tools, automation of redundant work, and adding data to a currently unscientific practice.

“We’re helping companies get more return from their time and investment in social. As a powerful efficiency software, Cortex helps social media managers and agencies be more productive while enjoying work more. Our average customer has seen a 400% increase in engagement and seven hours per user, per week of time saved,” said Brennan White, CEO of Cortex. “By creating more effective and creative social media content, we are making marketing less intrusive and more enjoyable for consumers. The outcome is targeted, timely, and welcomed.”

Coming from eight years in the agency world, White and Chief Revenue Officer Matt Peters were users and clients of all major SaaS social tools. Cortex was created after they realized that existing tools focused entirely on analytics and process management, selling patchwork solutions to small social problems, rather than solving the fundamental underlying issue in social: complexity.

“Cortex coming out of stealth is a dark day for analytics and publishing platforms. These companies make money as long as social is an involved, time-consuming, multi-step process. They have no incentive to simplify social media marketing,” said Peters. “Using Cortex, social teams worry about fewer pieces of the puzzle, get better results, and have more time to focus on the most important piece: creating compelling content. Due to Cortex’s AI, our customers know that competitors will be monitored, content will be promoted, and posts will be executed optimally across their social platforms - all automatically.”

Cortex has more than a dozen active paying customers, and this early-stage round is led by four main funding sources including: Josh Adler, founder & CEO, Sourcewater; and Jere Doyle, general partner, Oyster Angel Fund.

“I invested in Cortex because it will have huge impact for companies that are using social tools and thinking about ROI, consolidation, and time investment in social. Clearly, every company needs to think this way,” said Doyle. “Cortex has already been the driving force behind multiple companies becoming the clear best-in-class. I invite all forward-thinking brands to meet Cortex.”

About Cortex

Cortex is artificial intelligence for social media marketing. Our SaaS platform removes the need for point solutions, social analytics, and social media management tools via machine learning and predictive analytics. Brands and agencies are able to save an average of seven hours per user per week, while increasing social KPIs by up to 400%. Learn more about how artificial intelligence will consolidate your marketing toolset at www.meetcortex.com or info@meetcortex.com.

 

M.Gemi Raises $14M

Ben Fischman, founder of flash sale fashion site Ruelala, has raised a $14 million seed and series A round for a new startup, M.Gemi.

M.Gemi launched Tuesday to make beautiful Italian shoes more affordable for international markets — like American shoppers. Fishman says hand-crafted shoes made in Italian factories often cost $500 to $2,000. M.Gemi's cost between $98 and $300. 

Investors include General Catalyst, which also invested in Ruelala, Forerunner Ventures and Breakaway Ventures. READ MORE

 

Localytics Raises $35M

Localytics, the only complete platform for app marketing and analytics, today announced it has raised $35 million in Series D funding, bringing its total investment to-date to $60 million. New investor Sapphire Ventures led the round with participation from existing investors Foundation Capital and Polaris Partners. The new funds will be used to strengthen Localytics’ predictive intelligence capabilities, which enable customers to truly personalize the user experience and improve engagement and retention in their mobile and web apps.

“Companies are struggling to keep up with the growth of apps. Most are unable to leverage user intelligence to improve how they acquire and engage users. Localytics’ investments in predictive app marketing will enable us to deliver the amazing, personalized app experiences that consumers have come to expect,” said Raj Aggarwal, CEO of Localytics. “And, with its deep history in scaling successful marketing technology companies, such as ExactTarget and Criteo, Sapphire Ventures’ expertise will help us continue building the leading solution for apps.”  READ MORE

* Learn more about Locatyics on their VentureFizz BIZZpage!

 

Chitika Invests $4 million in Spin-Off, Cidewalk

Westborough-based Chitika Inc., an Internet advertising company, on Wednesday announced it will spin off its mobile advertising business unit, Cidewalk.

Chitika is investing $4 million to fund the spinoff, according to a statement, and Cidewalk has purchased office space in Southborough to accommodate staffing growth. Its new office is at 154 Turnpike Road, Southborough, in space formerly occupied by Bodyscapes Fitness.

Chitika expects Cidewalk, launched in 2014, to generate $10 million in gross revenue over the next year, the statement said. READ MORE


Ginkgo Bioworks Raises $9 Million

Ginkgo Bioworks, an organism design company, today announced that it has raised $9 million in a Series A round from Felicis Ventures, OS Fund, Data Collective, iGlobe Partners and Vast Ventures. The company was part of Y Combinator’s Summer 2014 class and was the first biotech startup to participate in Y Combinator’s accelerator program. 

Ginkgo Bioworks also announced the opening of its new 18,000 square-foot, automated organism engineering foundry, Bioworks1. Bioworks1 uses robotics and advanced software to make the process of engineering organisms scalable. The company used their new investment round to complete the construction of Bioworks1 and will use the funding to operate the foundry to deliver organisms to customers. They have already begun the design of their next-generation foundry, Bioworks2, slated for construction in early 2017. READ MORE

 

Help Scout Raises $6M

My favorite thing about being an entrepreneur is being stretched beyond my comfort zone on a daily basis. Today is hardly any different, as I’m very proud to announce that Help Scout has raised $6m in funding as part of a Series A round.

People who know me will be very surprised by this announcement. I’m a bootstrapper at heart and always have been. Our business raised a small amount of money ($800k) following Techstars four years ago and has been profitable for the last 18 months. READ MORE

Motorola Solutions Invests in Drone Maker CyPhy Works

Motorola Solutions has made a strategic investment in CyPhy Works, a leading developer of advanced unmanned aerial vehicles (UAVs), also known as drones. Founded by Helen Greiner, co-founder of iRobot, CyPhy Works has developed a drone technology and business roadmap that pioneers use of “microfilament tether” technology that enables long-duration or persistent flight with secure streaming of high-speed data and high-definition video.

“Real-time information is a powerful tool for our public safety and commercial customers,” said Paul Steinberg, chief technology officer at Motorola Solutions. “A tethered drone collecting situational awareness in large or hard-to-reach locations quickly puts eyes and ears on the scene, enabling our customers to read the moment, know what’s relevant and help them make fast decisions about how to deploy resources. This can help not only resolve incidents faster but also provide information to help prevent critical situations from happening in the first place.” READ MORE


KleerMail Raises $1.3M in Funding

As noted on CrunchBase, KleerMail in Boston, Massachusetts has raised $1.3M in funding.  KleerMail develops innovative SaaS and business intelligence tools that improve the cost, speed-to-market, and distribution of complex marketing messages for large-scale clients.  READ MORE

Onshape Funding Reaches $65M

Per Erin Griffith at FortuneOnshape, a Cambridge computer-aided design (CAD) software startup, has raised a total of $64 million in funding from New Enterprise Associates, North Bridge Venture Partners, and Commonwealth Capital. The funding values the company, which has operated stealthily for the past three years, at $295 million, including the funding. (This total funding amount includes $34 million in funding first reported by the Boston Globe in 2013.) 

READ the full article here

SimpliVity Raises $175M in Series D Funding

SimpliVity, a leader in hyperconverged infrastructure for IT, announced today it has raised $175 million in series D funding at a valuation of more than $1 billion – a record achievement just 23 months after general availability of OmniCube, its flagship product.  Waypoint Capital, the business enterprise for the Bertarelli family’s investments and headquartered in Geneva, Switzerland, led the round. Prior investors Accel Partners, Charles River Ventures, DFJ Growth, Kleiner Perkins Caufield & Byers (KPCB) and Meritech Capital Partners also contributed to the round. SimpliVity’s total venture funding is now $276 million. 

Waypoint was inspired to make the investment after transforming its own IT environments across five global sites with SimpliVity’s hyperconverged infrastructure solution.  READ MORE

WiGo Raises $1.5M In New Funding

Wigo Extends Seed Round With $1.5M In New Funding Led By Great Oaks Venture Capital

Wigo, the "who's going out" app for college students, today announced that it has closed a $1.5M extension of its seed round of funding led by Great Oaks Venture Capital. Other investors in the round include Greylock Partners, GGV Capital, Blade, KEC Ventures, as well as angel investors including Jean Pigozzi and Brian Guttman. This extension follows an initial seed round of $550k that the startup raised in the summer of 2014 with investors including Tinder co-founders Sean Rad and Justin Mateen, Kayak.com founder Paul English, Facebook's first sales guy Kevin Colleran, and Super Bowl champion Vince Wilfork. 

"The entire Wigo team is excited to have such great partners supporting our mission to change the way students plan their social lives. We want to build an app that college kids physically can't function without," said Ben Kaplan, Wigo's founder and CEO. "We've seen some awesome initial traction across college campuses thus far, but we think this is just the tip of the iceberg." READ Full Release

* Read More about WiGo in VentureFizz's coverage from their launch.

Voxel8 Announces Strategic Investment with In-Q-Tel

Voxel8 is excited to announce that it has closed a strategic investment and technology development agreement with In-Q-Tel (IQT), the investment firm that identifies innovative technology solutions to support the missions of the U.S. Intelligence Community.

“We are pleased to be partnering with Voxel8 to further develop its multi-material 3D printing technology,” said Megan Anderson, Vice President of Field Deployable Technologies at IQT. “The customization enabled by Voxel8’s technology allows users to quickly create new devices without the inconvenience of tooling, inventory, and supply chains associated with traditional manufacturing methods.” 
READ MORE

Ditto Labs Raises $1.3M

As reported by Sara Castellanos at Boston Business Journal, Ditto Labs, a Cambridge-based startup that offers businesses analytics on social media photos with brand names and logos in them, has raised $1.3 million, according to a March 3 regulatory filing. READ MORE 

Utilidata Raises Funding

UtiliData, Inc., a leading supplier of voltage optimization products for the electric grid, has completed a round of financing led by Braemar Energy Ventures. The financing will accelerate the advancement and expansion of the company’s AdaptiVolt™ Volt/VAR Optimization product, which allows utilities and large industrial companies to realize significant energy efficiency gains as well as improved reliability. The funding comes in the wake of the successful AdaptiVolt™ system performances in major utilities across North America, where it has demonstrated operational excellence, along with robust, measurable results...READ MORE

Utilidata Raises $20M in Series B Funding

Utilidata, Inc., a leading supplier of voltage optimization and digital automation systems for the electric utility industry, today announced that it has secured more than $20 million in Series B financing. Formation 8 Partners and Saudi Aramco Energy Ventures (‘SAEV’) led the round and were joined by existing investors Braemar Energy Ventures and American Electric Power – one of the nation’s largest utilities. The funding will allow Utilidata to bring new advances and innovation related to digital automation, voltage optimization, and systems management to market, and further expands its presence in North America, Asia and the Middle East. Formation 8 founder Jim Kim will join Utilidata’s board of directors...READ MORE

Linkable Networks Raises $11.7 Million in Funding

Linkable Networks today announced $11.7 million in funding along with three key executive team hires as the company positions itself for accelerated growth in 2015. In addition to driving enhancements to its core platform, the additional working capital enables Linkable to scale its direct to consumer loyalty platform that allows retailers and CPG brands to engage the next generation of shoppers.

To support acceleration and product enhancement, Linkable is planning to double its staff over the next six months with a focus on expanding development, client support and sales. The company welcomes three senior executives to its leadership team... READ MORE

Workable Raises $5M

Workable, the software of choice for SMBs looking to take their hiring online, has secured $5m of additional funding from its existing investors. Workable enables smaller companies to post to multiple jobs boards, review candidates and schedule interviews.

Workable is persuading people to switch from spreadsheets and email to affordable hiring software. It saw a ten­fold growth in revenues last year by putting tools that used to be the preserve of large organizations within realistic reach of SMBs.  READ MORE



InMoji Raises $1M

 Today, Boston-based InMoji announced it has scored $1 million so it can connect consumers to brands through messaging.

Founded last year, the startup offers clickable icons — called InMoji — that live in a message and can connect you to, say, an offer from Nike.

Investors include David Chang with participation from Paypal’s Start Tank, Atlas Venture, and others. READ MORE from VentureBeat.

Read More about InMoji on VentureFizz from January.


Next Step Living Raises $18.2M in Series C Funding

Next Step Living, Inc., a leader in residential energy efficiency and renewable energy, has raised $18.2 million in a Series C financing. New investor VantagePoint Capital Partners led the round. Existing investors, including Black Coral Capital and Mass Green Energy Fund, also participated in the round, which remains open.

The financing allows Next Step Living to expand its geographic base and thus serve homeowners in Connecticut, Maryland, and other states on the Atlantic Coast. To date, Next Step Living has primarily conducted its operations in Massachusetts...READ MORE

FamilyID Raises $850,000

FamilyID, Inc., a Waltham, MA-based online registration and payment platform for all types of programs such as schools, camps, teams and clubs, raised $850k in its first institutional round.

The round was led by Boston Seed Capital with participation from CommonAngels Ventures. In conjunction with the funding, Peter Blacklow, a senior Partner at Boston Seed Capital and formerly the president of WorldWinner, a subsidiary of GSN (Game Show Network), is joining the FamilyID board. READ MORE

 

Paint Nite raises $13M in funding

As reportered by Sara Castellanos of Boston Business Journal, Paint Nite, a Somerville-based startup that offers nightly group painting workshops with cocktails at various locations, has raised $13 million in equity funding. READ MORE

Sqrrl Secures $7M Series B financing

Sqrrl, the Big Data Analytics company that develops software to uncover hidden patterns, trends, and links in data, has announced the launch of Sqrrl Enterprise 2.0. The release of Sqrrl Enterprise 2.0 coincides with securing $7M of Series B financing, led by Rally Ventures and with participation by existing investors, Atlas Venture and Matrix Partners.

“Sqrrl is at the intersection of two of the most important trends facing the enterprise: cybersecurity and Big Data,” says new Sqrrl investor, Zenas Hutcheson of Rally Ventures. “Sqrrl’s technology can help both Fortune 1000 companies and government agencies prevent themselves from becoming the next cyber incident headline story.” READ MORE

 

TraceLink Secures $20 Million

TraceLink Inc., the leader in protecting patient safety and enabling health for global Life Sciences, today announced that it has raised $20 million in new venture funding led by Volition Capital, including participation from Fidelity Biosciences and existing TraceLink investor, FirstMark Capital. With more than 120 countries currently reporting counterfeit drugs in the pharmaceutical supply chain, the Life Sciences industry is facing a global transition, where a wide range of new and emerging regulatory laws will protect more than 75% of global medicines by 2018. As Life Sciences companies work to transform their supply chains, the TraceLink Life Sciences Cloud has quickly become the industry-leading platform that drug manufacturers, distributors, repackagers and dispensers rely on to exchange required compliance information and deliver safe medicines to patients everywhere. 

“TraceLink is the clear category leader of track and trace software for the Life Sciences industry, and in just a short time, the company’s Life Sciences Cloud platform has become the trusted solution for more than 100 pharma companies, ranging from the world’s largest pharmaceutical manufacturers to small, independent pharmacies,” said Sean Cantwell, partner at Volition Capital. “What sets TraceLink apart is the unique approach it has taken to efficiently build a network infrastructure on which the entire pharmaceutical supply chain can connect, collaborate and exchange information in the face of new and complex laws. This differentiated approach positions TraceLink to win global market share faster than anyone else in this sector, and we’re excited to help the company drive its plans for future growth and expansion.” READ MORE

Cuseum Raises $1.2 Million in Seed Funding

Art tech startup, Cuseum, to bring mobile app platform to the museum and cultural world. 

BOSTON, MA (February 18, 2015) – Cuseum, a startup focused on mobile technology for the art and cultural sector, announced today that it closed a seed investment of $1.2 million. 

Investors in this round include Foundry Group’s FG Angels, Atlas Venture’s Boston Syndicates, Seavest Capital Partners, Drummond Road Capital, and New Gen Partners. Funds were also raised from angel investors Paul English, Joshua Schachter, Deborah Ellinger, Wayne Chang, Colin Angle, Nicole Stata, David Chang, Jit Saxena and others.

“We are thrilled to close our seed round of funding with a group of investors that are excited and eager to assist in the growth of Cuseum. The funding will allow us to leverage our expertise and grow rapidly towards powering the mobile passport to the art world,” said Brendan Ciecko, founder & CEO of Cuseum.

“We're hugely impressed by Brendan's vision to bring art and culture to life through mobile and beacons, thereby unlocking a world of shareable content for consumers and rich visitor insights for museums,” said investor Brad Feld of Foundry Group.

Cuseum’s technology is currently used at several museums and galleries in Boston and New York City. The company will use the funds to expand their sales, design, and development teams.

“We aim to be the go-to technology leader for the art world,” says Ciecko. Cuseum offers several new tools and technologies, including support for Bluetooth beacons. “We see the introduction of beacons as transformative and know it will significantly enhance the visitor experience. We’re excited to bring this to cultural venues globally with the power and ease of our platform.”


To learn more and stay updated on news from Cuseum, please visit www.cuseum.com 


About Cuseum

Cuseum (formerly Spotzer) is transforming the way people interact with art and culture using mobile technology and social networking. Cuseum’s platform powers mobile apps that are social, engaging and proximity-aware (using beacons) to enhance the art experience. Cuseum’s platform provides museums, galleries and cultural venues with tools to create new curated experiences, insights through advanced data analytics, and new revenue opportunities. Cuseum is building the infrastructure, network and mobile passport that connects art and millions of art lovers to the digital world.

Changing Environments / Soofa Raises Seed Round

Changing Environments Inc., a startup with an all-female founding team that is making Internet-connected, solar-powered park benches, has raised more than $1 million in a seed round, Venture Capital Dispatch has learned.

The Cambridge, Mass.-based startup’s product is a bench that the founders, Jutta Friedrichs, Sandra Richter and Nan Zhao, created while at MIT Media Lab. The bench, called a Soofa, has a solar panel that charges phones, and can be mounted with sensors to monitor traffic, air quality and other information. READ MORE

Proletariat Raises $6 Million Series A

We raised $6 million led by Spark Capital, along with FirstMark Capital and Atlas Ventures. Rick Heitzmann of FirstMark Capital is joining the board with Nabeel Hyatt from Spark Capital, Proletariat’s CTO Dan Ogles, and myself. READ MORE