OnCorps Closes $2.3 Million
OnCorps Combines Behavioral Science and Machine Learning to Give Users Real-Time Benchmarking and Performance Data on Individual Decisions; Closes $2.3 Million in Private Investment
CAMBRIDGE, MASS—October 5, 2015—OnCorps today unveiled its Adaptive Decision Analytics platform that intelligently engages users and nudges them to make better decisions. The company also announced the close of $2.3M in private investment from Andreessen Horowitz and business leaders including former top executives from Accenture, Bridgewater, McKinsey, Goldman Sachs and Fidelity Investments.
OnCorps combines behavioral science, machine learning and Sabermetrics to identify, create and apply the data an organization needs to dramatically increase desired results. OnCorps mobile and online applications are rapidly tailored to each client’s unique requirements, providing real-time individual diagnostic visualizations, benchmarking, data correlation and personalized smart nudging capabilities.
“Though data and analytics tools are powerful, the challenge is making data relevant and actionable,” said Bob Suh, founder and CEO of OnCorps. “Organizations spend too much time and capital collecting and charting data. Not enough time is spent turning data into better decisions. We created OnCorps to usher in the next generation of analytics, applying technology that enables users to track and measure their decisions and nudges them to make choices that improve their odds of success.”
Organizations have traditionally supported decision making by analyzing existing data, supplemented with traditional surveys, and communicating findings in a top-down fashion to distributed decision-makers. This method yields static data that fails to provide personalized insight into how decision-making can be improved at the individual level. Business decision-makers need relevant and real-time adaptive insight into the decision factors that matter most to achieving results.
OnCorps applications enable individual users to compare their decisions and performance to the real-time benchmark data of various peer performance groups, gaining insight on key differences. Users then track their decisions over time to see how different decisions impact their performance and build a personalized “decision diary” to capture and improve their decision rules. Finally, applications deliver smart “nudge” messages, personalized and adapted over time for each user, that prompt the changes in behaviors that correlate to the best outcomes. In this way, OnCorps applications accomplish large-scale behavior change through individualized decision tuning and nudging.
OnCorps applications result in two to three times higher user engagement rates and higher quality data. The platform allows configuration of custom applications and reporting very rapidly and iteratively.
OnCorps also announced the addition of Jack Klinck, former Management Committee member and Executive Vice President at State Street; Nicholas Christakis, Sol Goldman Family Professor of Social and Natural Science at Yale University and Dan Petrozzo, former partner and CIO of Goldman Sachs, to its Board of Advisors. Klinck, Christakis, and Petrozzo join the OnCorps Board alongside top business, technology and finance executives and researchers from Accenture, Capital Group, Credit Suisse, DuPont, EMC, Fidelity Investments, Google, Bain Capital, Harvard Business School, McGraw Hill Education, Merck, NYSE and ON Search Partners.
“OnCorps has a profound opportunity to change the way business decisions are made, helping organizations achieve break-through performance and stay ahead of the rapid changes that occur in dynamic markets,” said Karl-Heinz Flöther, Supervisory Board member for Deutsche Boerse and Commerzbank, and former international chairman of Accenture. “OnCorps has the right leadership and technology in place to successfully address this enormous market opportunity.”
For more information about OnCorps, or to schedule a platform demo, visit http://www.oncorps.org or email email@example.com.
OnCorps is the adaptive decision analytics company that intelligently engages users and nudges them to make better decisions. The OnCorps platform adapts to each user’s performance and decision style by applying a unique combination of behavioral science, machine learning and Sabermetrics, allowing users to see real-time diagnostics while building a personal decision diary. OnCorps is headquartered in Boston and part of the Andreessen Horowitz portfolio of companies. For more information, visit http://www.oncorps.org.
Workable Raises $27M
Workable, the startup that’s changing the way small businesses hire, raised $27 million in a Series B round led by Balderton Capital with the participation of Notion Capital and existing investors 83North (formerly Greylock IL). An emerging member of Boston’s B2B software scene, Workable grew five-fold in the last year.
Workable delivers a simple but powerful cloud-based solution for employers who need to post jobs, track candidates and hire as a team. It will use the funding to seal its place as America’s favourite hiring software. More than 3,000 businesses in 52 countries actively use the service today, a customer list that’s growing by 15% every month.
“The need to recruit great people and to do it quickly and efficiently affects businesses of all sizes. Workable have done an extremely impressive job of building a solution for SMBs that leapfrogs the cumbersome methods that came before it,” said Daniel Waterhouse, General Partner at Balderton Capital. “We are incredibly excited to be backing two terrific European entrepreneurs and their amazing team, as Workable take the next step on their journey”.
As well as companies changing up from clunky and outdated HR systems, hundreds of ambitious businesses are joining Workable every month, many of which have never used hiring software before.
“Big companies have been using heavyweight applicant tracking systems for decades”, said Workable CEO, Nikos Moraitakis. “But the majority of America’s 22 million small businesses have not yet tried hiring software. With no solution made for their needs, they were disadvantaged in a function that’s critical for every business”.
“Workable is levelling the playing field for them, giving ambitious companies the chance to compete for talent”.
Tim Sackett, the recruiting tech expert, popular HR blogger and president of $40 million staffing agency HRU Technical Resources, said: “I’ve used a lot of recruiting solutions in my career, but Workable may be the most intuitive and easy to use right out of the box”.
“Workable gets recruiting and keeps it to what it is, or what it should be, which is simple. This is why it works so well for SMBs”.
All kinds of businesses, from creative agencies and tech startups to small hotels and hair salons, are finding they can save time and hire better with Workable.
Typical of these first-time users is Alexander Meeks from the New York-based engineering firm, Armand Corporation: “Before Workable, our firm used a combination of email and Excel,” he said. “Workable did everything we needed at a reasonable, scalable price and with a superior, simple user interface. We will never go back.”
NewStore Has Raised $38 Million
Boston, MA – September 30, 2015 – NewStore, Inc.
establishes the definitive Mobile Retail Platform
. As the future of retail shifts to mobile, brands struggle to maintain a profitable omnichannel presence. NewStore solves this issue by introducing a groundbreaking, high-conversion mobile commerce solution that unifies offline and online buying experiences. The company was founded by Stephan Schambach, an early ecommerce pioneer and founder of Demandware and Intershop. Including investments from Schambach and the NewStore management team, NewStore has raised $38 million, with General Catalyst Partners as the lead investor.
Brick-and-mortar retailers and brands face fundamental challenges as the rapidly growing mobile commerce market evolves: (1) Mobile conversion is only a fourth of desktop web browsing, (2) offline and online commerce are still fundamentally at odds, (3) Amazon has a virtual monopoly on convenience, and (4) mobile offers new forms of engagement that retailers have yet to leverage. Rather than retrofit legacy systems to address these issues, NewStore has built a commerce platform from the ground up, focused on mobile first.
The NewStore Mobile Retail Platform creates a cloud- and mobile-based innovation layer that elegantly integrates stores' existing ecommerce platforms such as Demandware, as well as ERP systems, without requiring major retooling at the backend. NewStore helps brands create closer, more profitable relationships with consumers through its platform that allows brands to provide unrivaled mobile convenience, foster deep consumer engagement, and boost sales.
“Retailers have seen an increase in mobile traffic, yet conversion rates remain low. This means mobile has untapped potential for retailers, and that’s where NewStore comes in,” said Stephan Schambach, Founder and CEO, NewStore. “As a serial entrepreneur who has capitalized on the major turning points in ecommerce, it’s clear to me that mobile represents the next major inflection point. What’s more, mobile is the only way to truly master omnichannel. The combination of mobile and omnichannel into a single, powerful, and customizable retail platform will shatter expectations for mobile commerce, making mobile shopping apps more popular than traditional ecommerce websites.”
LLX Global Business Services SA, part of JAB Holding S.a.r.l. and provider of business services to JAB brands Jimmy Choo, Bally, and Belstaff, is the first NewStore customer. “As part of larger efforts to enhance the consumer experience, we’re adopting the NewStore ‘mobile-first’ approach,” said Mark West, CEO of LLX Global Business Services SA “The NewStore Mobile Retail Platform helps us focus on accelerating revenue growth through brand desirability and unparalleled consumer convenience. It addresses the most substantial issue facing luxury retailers today: meeting the needs of demanding mobile consumers.”
Mobile consumers expect the ability to purchase anything, anywhere and at any time. NewStore is helping brands get their apps into the consumer’s pocket and break the boundaries of offline and online. By transforming today’s linear commerce experience, the NewStore platform reimagines the buyer’s journey as borderless, in which personalized, instant gratification is possible with one single touch.
“Looking at the NewStore model and its Mobile Retail Platform, there is no direct competition in the market. There are piece-players making attempts to address the mobile paradigm shift for retail, but no one has yet tied it all together as Stephan has done with NewStore,” said Larry Bohn, General Partner at General Catalyst Partners and Board Member, NewStore. “We’ve worked closely with Stephan as he brought his vision to life at Demandware, and from our unique vantage point, he is ready to reinvent an industry once again with NewStore.”
“The share of purchases initiated or influenced by mobile devices is growing in tandem with skyrocketing usage. Yet, the majority of mobile browsers fail to convert on the spot, due to a dearth of seamless mobile checkout solutions,” said Scott Galloway, Founder and Chairman, L2 and Board Member, NewStore. “NewStore eases the last part of that shopping journey and unifies it with the rest, fostering brand engagement and loyalty.”
Join Stephan Schambach for a webinar on October 27 where he will share how to future proof your brand against disrupting retail trends. Register here. Meet Schambach at the Shop.org conference – NewStore will be in booth #863.
NewStore provides the only mobile retail platform that promotes conversion, boosts engagement, unifies offline and online, and modernizes fulfillment. Working as a Demandware Link Partner and in conjunction with existing ecommerce platforms, NewStore allows brands to deliver a mobile-first retail experience designed around how consumers want to buy today — anywhere, anytime, with single touch simplicity. Founded by Stephan Schambach, creator of Intershop and Demandware, NewStore is headquartered in Boston. For more information, visit www.newstore.com.
Renoviso Raises $1.4M Seed Round
Boston, MA -- Renoviso, a service that aims to completely transform the way consumers complete home renovation projects with a transparent ecommerce shopping experience, today announced it has closed a $1.4 million seed round. The round is led by NextView Ventures with RRE Ventures, Accomplice's BOSS Syndicate, NextGen Angels, Wayfair CEO Niraj Shah, Fabrice Grinda, and other well-known local angels participating.
Renoviso enables homeowners to easily buy professionally installed home renovation products, starting with window replacements. Homeowners can get real-time customized pricing online in minutes for their project including premium quality products, professional measurement and installation, and a modern stress-free experience -- all at a great value. Unlike online alternatives, this solution handles the entire process for the homeowner rather than just directing consumers to service providers.
“Completing any home renovation project can be painful and frustrating but it doesn’t have to be. Starting with replacing your windows, we aim to create a much simpler and more transparent experience that homeowners will love. We’re excited to have the support of such highly regarded investors who believe in our ambitious vision,” said Eric Horndahl, CEO & Co-Founder. “This funding will allow us to build a world-class team, expand our core offering into new product categories and geographies, and continue to innovate on the customer experience.”
Horndahl and co-founder Brian Waldman started the company to address the antiquated, time-consuming, and stressful process of completing home renovation projects, which was inspired by the very frustrating experience that Horndahl went through to upgrade his windows. The two co-founders have a long track record of building high-growth online businesses including BuyerZone, Cayan, eBay, and FlipKey (TripAdvisor).
“At NextView, we’ve long-held the view that an increasing number of high-ticket, enduring goods are being purchased on the web”, said David Beisel of NextView Ventures. “Renoviso fits perfectly into that thesis and seamlessly solves a very real problem for the large number of homeowners who are upgrading their homes.”
For more information on Renoviso, please visit www.renoviso.com.
Acquia Closes $55 Million Financing Round
Acquia has closed a $55 million equity financing round. New investor Centerview Capital Technology led the round, with support from existing investors includingNew Enterprise Associates (NEA) andSplit Rock Partners. This funding will help Acquia scale its sales and marketing and the development of its solutions for building, delivering, and optimizing digital experiences.
“At Acquia, we pride ourselves on guiding today’s leading organizations as they digitalize their business,” said Acquia CEO Tom Erickson. “The phrase, ‘If you’re not thinking ahead, you’re falling behind,’ rings ever so true for us, and we strive each day to help our customers stay ahead of the curve and provide amazing digital experiences. This investment in Acquia will enable our team to focus on doing what we do best, helping our customers achieve maximum business impact by delivering digital experiences that are flexible, agile, and open.”
Acquia is a leading provider of web content management solutions, most recently recognized in Gartner’s 2015 Magic Quadrant for Web Content Management. Delivering the best digital experience is no longer optional; it’s the new mandate. Global organizations turn to Acquia to provide technical expertise and strategic insight to build, deliver, and optimize digital experiences that build brand engagement and ultimately drive the bottom line.
“We are delighted to partner with Acquia, the industry leading web-content management solutions company” said Ned Hooper, managing partner at Centerview Capital Technology. “We are strong believers in the massive opportunity in digital transformation for the enterprise, and believe that Acquia, with its technology leadership and strong management team, is uniquely positioned to lead this transformation.”
Acquia is the digital experience company. Intuit, Warner Music Group and Stanford University are among the more than 4,000 organizations that are transforming their digital businesses with Acquia’s open cloud platform. Global 2000 enterprises, government agencies and NGOs rely on Acquia to create new revenue streams, lower costs, and engage audiences more deeply through content, community, commerce and context.
Amino Raises $6.5M
Per TechCrunch, Amino, a startup that’s built 41 different mobile community apps (so far), is announcing that it has raised $6.5 million in Series A funding. READ MORE
Onshape Raises $80 Million Led By Andreessen Horowitz
VCs strive to find passionate founders. Well, it’s hard to find someone as passionate about computer-aided design (CAD) software as Jon Hirschtick, the cofounder and CEO of three-year-old, Cambridge, Ma.-based Onshape. It was back in 1993 that Hirschtick founded his first 3D modeling software company, SolidWorks, selling it four years later for $316 million to the multinational 3D design company Dassault Systemes. READ MORE
SevOne Announces $50 Million Financing Round
World’s largest network and data center operators rely upon SevOne to manage virtualization, cloud, IoT, and mobile Internet initiatives
Boston, MA – September 23, 2015 – SevOne, the leading global provider of digital infrastructure management solutions, today announced a $50 million Series C financing round led by Westfield Capital Management and Bain Capital Ventures. Brookside
Capital, HarbourVest, VT Technology Ventures, and Osage Venture Partners also participated in this round. SevOne will use the financing to accelerate its growth through new technologies and markets, meeting the growing demands of organizations transforming their business for the always-on mobile economy and the Internet of Things (IoT).
The funding comes at a time when mobility sits at the heart of a new and vibrant ecosystem that is uniting the digital and physical worlds. New mobile and broadband connectivity, coupled with ever-expanding virtualized cloud services, are driving the mobile economy and creating a flood of data. Organizations are continually under pressure to interpret this data to unlock real-time business opportunities, reveal competitive differentiators, or optimize everyday operations. Legacy management solutions weren’t built for the mobile economy, and simply can’t provide the power required to deliver real-time insight and business value. The patented SevOne Cluster™ architecture solves this fundamental problem, arming the world’s top carriers and enterprises with solutions to harness the power of their digital infrastructure and deliver on the promise of the mobile economy.
“We are thrilled to invest in SevOne and help them continue on their rapid growth trajectory,” said Will Muggia, CEO of Westfield Capital Management. “We believe their massively scalable data aggregation platform, which is being used by the world’s largest enterprises and service providers, is highly differentiated and disruptive to the digital infrastructure management market.”
Bain Capital Ventures originally invested in SevOne in 2012. The funding fueled the expansion of the company’s alliance network and product ecosystem to support the customer journey to new mobile technologies (4G LTE) and the rapid adoption of virtualization technologies such as software-defined networks (SDN), network functions virtualization (NFV), and software-defined data centers (SDDC). Since that time, SevOne has matured its global leadership position in several key markets, including:
- 40% of the top technology companies
- 50% of the top fixed and mobile broadband carriers
- 60% of the top investment services firms
“SevOne’s patented architecture is transforming the way the world’s largest enterprises and service providers are managing their digital infrastructure,” said Ben Nye, Managing Director at Bain Capital Ventures. “The company’s rapid growth is driven by forward-thinking companies needing to collect all the data across their end-to-end digital infrastructure in support of mission-critical services.”
SevOne is poised for another year of rapid growth. The company continues to invest in its Delaware roots, constructing a 48,000 square foot, state-of-the-art research and development center on the University of Delaware's Science, Technology and Advanced Research (STAR) Campus in Newark, Delaware. The STAR campus facility opens in October, and will build upon the company’s vision of developing next-generation technologies and pushing the boundaries of digital infrastructure management for SevOne customers.
“The opportunities and challenges of managing digital infrastructures have never been greater,” said Jack Sweeney, SevOne CEO. “SevOne is uniquely positioned to capitalize upon this demand, allowing the world’s largest datacenter and network operators to unlock the true business potential of their digital infrastructure.”
WHOOP Closes $12M
WHOOP today announced the availability of its performance optimization system developed exclusively for elite athletes and teams to help them win more. In conjunction with the launch, the company also announced that it raised $12 million in Series B funding led by Two Sigma Ventures with participation from Mousse Partners, Accomplice, Promus Ventures, Valley Oak Investments, and NextView Ventures. The capital will be used to scale its business targeting professional and collegiate teams and to continue the development of next generation technology.
WHOOP continuously measures every athlete's strain and recovery, which helps balance training plans, prevent injury, and increase team performance. It is currently being used by athletes on teams across all major U.S. professional sports leagues and college conferences. Numerous Olympians are also using WHOOP to train for the 2016 Summer Olympics.
The WHOOP system includes a sleek wrist-worn strap that measures key strain and recovery variables more than 100 times per second, 24 hours a day. WHOOP’s proprietary algorithms then process this data to provide athletes an Intensity score, which informs them about the level of strain on their body and what it means; a Recovery score, which measures the body’s preparedness for strain or exertion; and a Sleep Performance score, which evaluates the hours of quality sleep an athlete got in relationship to the sleep he or she needed. The WHOOP system presents a team dashboard to coaches and trainers to help inform training and game day decisions.
“At the elite level, it’s no longer just about outworking your opponents to get an edge,” said Mike Mancias, the long-time athletic trainer for LeBron James, and now a WHOOP advisor. “In fact, research shows that 30 percent of athletes are overtrained, which can lead to injury and poor performance. It’s only by balancing intensity with recovery that athletes can optimize performance. WHOOP’s system and the data it provides helps me gain a better understanding of each of my individual athlete’s bodies, their capabilities, and their limitations, leading to better and safer athletic performance.”
How WHOOP Works
The WHOOP Strap is a device designed to be always on – worn by athletes 24 hours a day, 7 days a week. It collects more than 150 MB of physiological data per day based on five metrics:
- Heart Rate (HR) – Tracking and accurately reporting instantaneous heart rate.
- Heart Rate Variability (HRV) – Automatically analyzing, while an athlete is asleep, the tiniest variations in time between beats of his or her resting heart rate, providing detailed insights into the complex relationship of stresses on the body, cardiovascular health, and recovery.
- Skin Conductivity – Monitoring an athlete’s skin moisture, helping understand activity and sleep latency.
- Ambient Temperature – Combining observation of the environment in which an athlete is active with other sensor data to better understand his or her body’s response.
- Accelerometery & Motion – Knowing when and how an athlete is moving to understand not only his or her activity level but also refining the heart rate signal during exercise and providing insights into sleep quality.
That data is streamed via Bluetooth to a sophisticated analytics platform that analyzes Intensity, Recovery, and Sleep Performance. Coaches and trainers can view each athlete’s data on an easy-to-use team dashboard to determine what activities they have engaged in, how much strain they have placed on themselves, and how they have recovered. Coaches and trainers then can easily see which athletes are undertraining or which are overtraining and putting themselves at risk of an injury, resulting in improved individual and team performance. Sophisticated privacy settings allow teams to customize how data is shared between coaches and athletes as well as athletes with one another.
“Elite athletes require the highest level of body awareness,” said WHOOP CEO and founder Will Ahmed. “Given the slim margin between success and failure, it’s surprising that most athletes don’t really understand what they’re doing to their bodies. Even the fittest athletes are susceptible to overtraining, misinterpreting fitness peaks, and misconceptions around recovery and sleep. Coaches and trainers face the challenge of evaluating the status and training plans for 10, 20, or 50 athletes at a time.
“We built a system that is always on: continuously measuring the nuances of an athlete’s strain and recovery throughout the day,” continued Ahmed. “Our athletes and coaches know that they are making more informed decisions thanks to WHOOP; and with highly-tuned, well-established routines, they are loyal to products that service their discrete needs and help them reach the next level. These are the principles of our system’s design. From its comfortable, lightweight form factor to its privacy and security to its presentation of data, WHOOP was built from the ground up to empower elite athletes who need peak performance.”
WHOOP is working with teams across the NFL, NBA, NHL, Major League Baseball, Major League Soccer, and the English Premier League, along with several Olympic teams and trainers for some of the world’s most elite athletes, such as LeBron James and Michael Phelps. At the collegiate level, WHOOP is being used in all major conferences, including the SEC, Big 10, Pac 10, ACC, Big 12, and the Ivy League.
The WHOOP Strap is the first on the market that users can charge either on-the-go or during a night’s rest without having to be removed.
WHOOP is backed by an Advisory Board featuring some of the most influential names in health and technology.
“WHOOP is the first performance optimization system targeted exclusively at elite athletes, teams, coaches, and trainers,” said David Joerg, Managing Director at Two Sigma Ventures. "As a technology-driven investment manager, Two Sigma shares the WHOOP appreciation for the power of data. We’re excited to see the promise of advanced technology and analytics brought to the highest level of athletic competition.”
WHOOP is available immediately for professional, collegiate, and Olympic teams and athletes. For more information, please visit http://www.whoop.com.
WHOOP is the performance optimization system that helps elite athletes and teams win. WHOOP provides athletes, their coaches, and trainers with a continuous understanding of strain and recovery to balance training, reduce injuries, and predict performance. The system is currently being used by professional and collegiate athletes, Olympians, and the United States military. For more information, please visit http://www.whoop.com.
*Learn more about WHOOP and their Job Opportunities on their VentureFizz BIZZpage*
Chef Nightly Raises $1.5M
Per Xconomy, Chef Nightly has raised $1.5 million in seed funding. The round was led by Accomplice with participation by Fullstack Ventures, Kayak and Blade co-founder Paul English, DraftKings co-founder and CEO Jason Robins, and Bridge Boys. READ MORE from Xconomy
Alignable Raises $8M
Today, we’re thrilled to announce Alignable received an $8M investment led by Mayfield, a top silicon valley-based venture firm and existing investors Saturn Partners, NextView Ventures and Lead Edge Capital. They are committed to our mission of helping small businesses connect locally and grow together and with their support, we will grow our team and continue developing Alignable into the gathering place for small business owners like you.
Since launching 18 months ago, we’ve seen a half million small business connections made in 7 thousand communities nationwide on Alignable. And that is only the beginning! Our mission is to help all the communities in our network become thriving networks of small businesses helping each other reach more customers, share knowledge and overcome challenges together.
READ MORE from Alignable
ChoiceStream Raises $14 Million
ChoiceStream, a provider of programmatic advertising for brands and agencies, today finalized a $14 million Series C funding round. This round is led by a new investor, North Atlantic Capital, and includes follow on investments from previous investors. ChoiceStream will use the investment to further develop its successful managed services offering, launch an expanded self-service product to bring the power of programmatic into the hands of brands and agencies and boost the Company’s international expansion efforts.
“Over the last year we have taken a number of bold steps to establish ChoiceStream as a genuine technology leader in the hypercompetitive programmatic advertising industry,” said Eric Bosco, CEO, ChoiceStream. “As a company we have developed much of our foundational technology in house, which has been a significant advantage for our clients as well as the company. Our tremendous success that we’ve had with our clients, thanks to the effectiveness of our proprietary technology, has compelled our investment partners both new and old to double down on their investment in the company. We are excited to continue to execute on the plan that we started in 2011.”
The Series C investment marks ChoiceStream’s third financing round since the company’s 2011 transformation into a pure-play advertising technology company. ChoiceStream runs programmatic advertising campaigns for brand and agency clients, managing each phase of a campaign, from pre-launch planning to completion. Through the collection of poll-based, proprietary data specific to each client’s campaign, via Pollshare, ChoiceStream creates custom, targetable audiences, optimizes results in real-time and provides unique audience insight throughout each engagement. Leveraging world-class machine-learning algorithms, via the company’s Thunderdome programmatic optimization platform, in combination with a team of in-house industry experts, ChoiceStream boasts a client retention rate – well above the industry average.
“ChoiceStream’s singular approach to creating targeted branding and performance campaigns that both reach and move consumers makes them a disruptive force in the competitive advertising technology industry,” said David Coit, managing director, North Atlantic Capital. “We are strong believers in the leadership of ChoiceStream’s executive team, and combined with their impressive Pollshare and Thunderdome platforms, we fully believe that our partnership will be a successful one.”
ChoiceStream is a digital advertising partner that manages and optimizes targeted branding and performance campaigns to reach and move audiences that are easy to describe but hard to find. By qualifying audiences before a campaign begins and continuously refining targeting in real-time, this partner exceeds metrics and drives brand awareness. ChoiceStream streamlines complicated programmatic campaigns with a combination of its proprietary polling platform, optimization technology, dynamic creative, and dedicated team of industry experts. For more information, visit www.choicestream.com.
About North Atlantic Capital
North Atlantic Capital is a later stage venture capital firm based in Portland, Maine, investing in enterprise technology companies. North Atlantic provides creative financing structures to high growth companies with differentiated technologies that address large market opportunities. Established in 1986, North Atlantic is currently investing its fifth fund, raised in 2014. Past and current investments include iContact, IDEXX Laboratories, Tangoe, VideoBlocks, Vivisimo, Voxeo, and WEX. For more information on North Atlantic Capital and their current investment activities, visit www.northatlanticcapital.com.
Kyruus Raises $25 Million
SaaS-Based Referral Coordination Platform Addresses Unmet Patient Access Needs
Kyruus, a leading enterprise software company that helps hospitals optimize patient access and referral management, has raised $25 million in funding to further build its commercial team and support the rapid adoption of its ProviderMatch technology. The new funding round was led by New Leaf Venture Partners, with participation from Providence Health & Services, Leerink Capital Partners, and McKesson Ventures. They were joined by return investors Venrock, Highland Capital Partners, Lux Capital, and Fidelity Biosciences.
“In the past few years, we have watched patient access and provider matching rapidly become a ‘Top Three’ issue for health executives,” explains Sam Brasch, Venture Partner at New Leaf and the newest addition to the Kyruus Board. “Kyruus’ approach, which effectively focuses across both internal and consumer facing access points, has been used by some of the nation’s leading health systems to increase capacity utilization, reduce network leakage, and ultimately drive improved clinical outcomes by matching patients with the providers that best meet their individual needs.”
“Patient access has to be a top priority for any health system looking to engage consumers in their care,” noted Dr. Rod Hochman, president and CEO of Providence Health & Services – one of Kyruus’ leading enterprise customers. “Kyruus has been an excellent partner over the past year working with us to help patients find the right physician for their needs from our team of nearly 16,000 employed and affiliated physicians. Providence Venture’s investment in Kyruus fits our model of validating, piloting, collaborating, and investing with great technology partners to solve big problems in health care.”
In recent months, Kyruus has seen accelerated adoption and expansion of its solution at several leading health systems, including Keck Medicine of the University of Southern California (USC), Mercy Health in Ohio, Community Health Network in Indiana, and Swedish Medical Center in Seattle. Deployed throughout call centers, referring physician offices, and hospital websites, the company’s software now helps manage scheduling and referral management for more than 20,000 providers. Many of these health systems have seen productivity increases of 5-10% of their entire provider base while simultaneously ensuring that their patients get to the right provider the first time. Kyruus will use the financing to expand the size of its client development and implementation teams that work closely with these organizations to ensure that their patient access goals are met. Kyruus will also invest in expanding the surface area of its product platform, including its patient-facing search and online scheduling, network analytics, and patient CRM capabilities.
“By taking the ambiguity and hassle out of making the right referral and scheduling the right appointment, Kyruus’ platform helps ensure that patients get the right care at the right time and that health systems are utilizing resources efficiently,” says Tom Rodgers, SVP and Managing Director, McKesson Ventures. “Kyruus taps into a health system’s rich composite of data – including patient preferences, provider specialties, outcomes and availability – and optimizes its referral streams and scheduling activities, letting providers focus on delivering patient care.”
“Our vision is to help human beings better care for other human beings,” said Dr. Graham Gardner, CEO and Co-Founder of Kyruus. “Too often today, patients fail to get matched to the right provider for their healthcare needs. By taking a data-driven approach to understanding each provider’s unique set of skills, we can help make sure that patients are referred to the provider best qualified to care for their condition. When this match is made, patients, providers, and the health network all win.”
Onapsis Raises $17M
Onapsis Raises $17M Round Led by Evolution Equity Partners to Boost Cyber Security of SAP and Oracle Enterprise Applications
Sharp rise in demand for emerging enterprise application security market drives new funding for cybersecurity firm; supports sales efforts, marketing and research & development
Onapsis, the global experts in SAP and Oracle enterprise application security, today announced it has closed a $17 million Series B funding round led by Evolution Equity Partners, with full participation of existing investor .406 Ventures as well as new investor Arsenal Venture Partners. This round brings the total investment in Onapsis to $30 million since the inception of the company. J.R. Smith, partner at Evolution and former CEO at AVG Technologies (NYSE: AVG), will join the company’s board of directors.
This news comes in the wake of a new breed of breaches that are stealthy and targeted on corporate espionage, estimated to cost an annual $445 billion for companies globally. The first widely and publicly reported breach affecting SAP enterprise applications involved USIS, which provided security clearance services for Office of Personnel Management (OPM) and Department of Homeland Security (DHS). This recent attack involved exploiting the company’s vulnerable SAP ERP systems and put a public spotlight on why hard to find vulnerabilities in complex SAP enterprise applications are the perfect target for cyber attackers. The oversubscribed investment in Onapsis reflects the sharp rise in demand for specialized, scalable and comprehensive solutions from Global 2000 organizations to secure their critical SAP and Oracle enterprise applications as well as a rapidly maturing market.
Enterprise applications running on SAP and Oracle such as enterprise resource planning (ERP), customer relationship management (CRM), human capital management (HCM), business intelligence (BI) and supply chain management (SCM) house an organization’s most valuable data and support mission-critical business processes. They are also major targets at risk to nation-state attacks, intellectual property theft, financial fraud and sabotage. However, today’s traditional security vendors do not offer detection and response capabilities necessary for fully securing the SAP and Oracle enterprise application layer from attacks. With SAP and Oracle releasing hundreds of security patches annually, security and IT teams are finding it a challenge to keep up. As these applications are increasingly moving to a hybrid cloud model, with mobile and IoT environments, their attack surface is expanding exponentially.
“It’s critical that, as an industry, we get SAP and Oracle enterprise application security right. The economic and legal risk is too high for businesses to continue operating with their critical data exposed,” said J.R. Smith, partner, Evolution Equity Partners. “Onapsis has established itself as the leading global experts in this field. Our commitment to enter one of the fastest growing market segments in security is attributed to Onapsis’ patented technology, a strong research and development team and the quality of execution from their leadership team,” continued Smith.
As estimated by Onapsis, the SAP and Oracle enterprise application security market will grow to approximately $3.3B by 2018 with the majority of the Global 2000 using these applications in traditional as well as cloud and mobile platforms across on-premise, hybrid and public cloud solutions.
“The need to better secure enterprise business application platforms has become increasingly evident, as suggested by recent high-profile breaches that directly targeted vulnerabilities in ERP systems. With the expansion of the attack surface to IoT, mobile and cloud, the potential for unauthorized or malicious access to these high-value assets – and the business risks such exposures entail – will increase along with it," said Scott Crawford, Research Director, Information Security, 451 Research.
With the influx of capital, Onapsis plans to scale research and development efforts and support the rapid adoption and delivery of its platform for the Global 2000 through expansion of sales, marketing and customer success teams.
“Leading CISOs of Global 2000 organizations are realizing that traditional security products and methods are not designed to protect their SAP and Oracle enterprise applications from cyber attacks, leaving their crown jewels exposed,” said Mariano Nunez, CEO and co-founder, Onapsis. “Having been the first company to identify this emerging threat and deliver the advanced technology and research required to address it, we have always been and remain fully committed to enable SAP and Oracle customers to run their business’ securely. This new round of funding, led by firms with an unmatched cybersecurity pedigree, further validates the demand for our solutions and our undisputed leadership in the enterprise application security market.”
“Onapsis has exceeded our expectations on both execution and earnings," says Maria Cirino, Managing Director, .406 Ventures. "It has definitely joined the ranks of the Boston-based cybersecurity elite. We are extremely fortunate to have one of the strongest VC cyber security portfolios and Onapsis is exceptionally well positioned as a first, best and only provider of SAP and Oracle cyber security to enjoy continued rapid growth as it dominates its market segment.”
In 2014, Onapsis achieved over 130 percent year-over-year revenue growth, launched the Onapsis Security Platform, secured a global patent, identified and helped SAP and Oracle solve more than 50 security vulnerabilities, and expanded its presence in Europe. For the year ending 2015, Onapsis is on track to achieve a consistent rate of growth with a strong pipeline, market awareness and an industry-leading solution, as well as a notable board of advisors and directors.
Onapsis provides the most comprehensive solutions for securing SAP and Oracle enterprise applications. As the leading experts in SAP and Oracle cyber-security, Onapsis’ enables security and audit teams to have visibility, confidence and control of advanced threats, cyber-risks and compliance gaps affecting their enterprise applications.
Headquartered in Boston, Onapsis serves over 180 Global 2000 customers, including 10 top retailers, 20 top energy firms and 20 top manufacturers. Onapsis’ solutions are also the de-facto standard for leading consulting and audit firms such as Accenture, IBM, Deloitte, E&Y, KPMG and PwC.
Onapsis solutions include the Onapsis Security Platform, which is the most widely-used SAP-certified cyber-security solution in the market. Unlike generic security products, Onapsis’ context-aware solutions deliver both preventative vulnerability and compliance controls, as well as real-time detection and incident response capabilities to reduce risks affecting critical business processes and data. Through open interfaces, the platform can be integrated with leading SIEM, GRC and network security products, seamlessly incorporating enterprise applications into existing vulnerability, risk and incident response management programs.
These solutions are powered by the Onapsis Research Labs which continuously provide leading intelligence on security threats affecting SAP and Oracle enterprise applications. Experts of the Onapsis Research Labs were the first to lecture on SAP cyber-attacks and have uncovered and helped fix hundreds of security vulnerabilities to-date affecting SAP Business Suite, SAP HANA, SAP Cloud and SAP Mobile applications, as well as Oracle JD Edwards and Oracle E-Business Suite platforms.
For more information, please visit www.onapsis.com, or connect with us on Twitter, Google+, or LinkedIn.
About Evolution Equity Partners
Evolution Equity Partners, based in New York City and Zurich, Switzerland, is an international growth stage technology investor helping exceptional entrepreneurs develop market leading companies with global reach. The firm has a focus on Information Security, Enterprise Software and Consumer/Enterprise crossover opportunities. Current and past portfolio companies include: AVG Technologies (NYSE: AVG), Cognitive Security (NASDAQ: CSCO), OpenDNS (NASDAQ: CSCO), 60K, Onapsis, NejTV, SecurityScorecard and others.
Plexxi Raises $35 Million
Plexxi, a pioneering next-generation converged networking company and SDN market leader, today announced that it has raised a $35 million round of financing to continue the company’s rapid growth in the software-defined agile datacenter market. The round was led by a new investor with participation from existing investors Lightspeed Venture Partners, Matrix Partners and North Bridge Venture Partners.
The investment in Plexxi is recognition of the company’s groundbreaking approach and market adoption in building a new generation of software-defined data centers that deliver a flexible, agile architecture for new scale-out application and cloud services offerings.
“We are experiencing a generational shift to a new era of IT in which applications and data are rapidly increasing demand for a new agile and scale-out networking architecture,” said Rich Napolitano, CEO of Plexxi. “Plexxi represents a transformative converged networking and application-centric approach to traditional legacy networking. 2015 has been a record-breaking year for Plexxi as we gain a foothold in federal, financial services, education and service providers markets here in the United States and around the world.”
According to a recently published report by Dell’Oro Group, the layer 2-3 Ethernet switch market is expected to exceed $25 billion in 2019. “Datacenter switching will evolve rapidly through the rest of the decade and will drive most of the growth in the Ethernet switch market,” said Alan Weckel, Vice President of Ethernet Switch market research at Dell’Oro Group. “The cloud will help spur the adoption of software defined networking (SDN) that is another key driver in the evolution from an enterprise-driven to a cloud-dominated Ethernet switching market. The cloud’s need to scale, be flexible, and differentiate are ultimately all governed by what can be achieved in software.”
The latest financing round brings Plexxi’s total funding to $83 million. The infusion of capital will help fuel the rapid expansion of Plexxi’s sales, marketing, customer support, and research and development efforts as it accelerates the company’s vision of a software-defined architecture in datacenters and service provider networks.
“We continue to be very excited about Plexxi and the significant market opportunity in front of them,” said Tim Barrows, General Partner at Matrix Partners. “Their single-tier network architecture is uniquely well suited for next-generation datacenters and provides unprecedented control, intelligence and scale.”
Plexxi announced Napolitano as CEO in November 2014 as it readied the company for commercialization. Since his introduction, Plexxi has been focused on gaining customers across three rapidly growing markets: agile datacenters, scale-out application infrastructure and distributed cloud co-location service providers.
- Plexxi’s agile datacenter solutions create an automated, intelligently managed datacenter network leveraging a flat, scale-out architecture ideal for enterprise applications and their growth.
- Plexxi’s scale-out application solutions deliver a purpose-built network for horizontally scaled, distributed applications like Big Data, clustered compute and clustered storage.
- Plexxi’s distributed cloud solutions create a high-capacity network for distributing resources across multiple sites regardless of distance.
About Plexxi Inc.
Plexxi is a pioneer of next-generation networking products and solutions for agile data centers, scale-out applications and distributed cloud environments. Plexxi’s products – Plexxi Control and the Plexxi Switch – and market solutions create an optimized network that dynamically helps applications perform better and operate at the speed of business. Headquartered in Nashua, N.H., Plexxi has raised $83 million in financing from investors including Lightspeed Venture Partners, Matrix Partners and North Bridge Venture Partners. For more information, visit www.plexxi.com or follow us on Twitter @PlexxiInc.
netBlazr Closes $1 Million Funding Round
netBlazr, the fastest, most affordable Internet access for home and business in Boston, today announced that it has completed a $1 million funding round with an additional investment of $300,000 from Jeffrey P. Parker, co-founder of CCBN and well-known Boston-area angel. netBlazr is making significant new infrastructure investments and expanding coverage to more communities in Metro Boston.
Parker has invested in properties as diverse as Streetwise Media, FLYP, KnowledgeVision and Bison, and frequently collaborates with netBlazr board member and investor David Friend, chairman of Carbonite. Earlier this year, netBlazr announced $675,000 in funding from a group of investors including Friend.
Parker co-founded CCBN.com and served as the chairman and chief executive officer. Prior to this, Parker co-founded 38 Newbury Ventures, Technical Data Corporation, and FirstCall Corporation. Parker also served as the chairman and chief executive officer at Thomson Financial. Parker will serve as an advisor to netBlazr, focusing on the growth of the company's subscriber base and the ability to replicate its growth in other markets.
"I like to work with companies where it is easy to understand the benefits -- netBlazr offers better Internet access for less," said Parker. "I'm also impressed by the netBlazr team and their ability to execute and grow the business. Their network's growth isn't just adding more customers, it's strengthening that network. New nodes create additional redundancies and make the network stronger and more reliable."
"Jeff knows what it takes to build a successful company, and he's done it over and over again," said Jim Hanley, netBlazr's co-founder and CEO. "We're looking forward to working with him and leveraging his expertise to grow netBlazr and create a repeatable process for entering a market and winning subscribers."
netBlazr is the only Boston broadband provider with a 5 star Yelp rating. netBlazr's Concierge service delivers speeds above 300 Mbps and is available for less than $60 a month to residents of select apartment and condo buildings. There is no charge for owners of qualifying buildings with 100 or more units to add netBlazr as a choice for their residents.
netBlazr provides affordable, high-speed Internet to Boston residences and businesses as an alternative to the "big guys" who force people into high-cost service bundles that they don't want. netBlazr is a locally-owned business that offers "nothing but net", an Internet connection that is reliable and affordable and nothing else. No gimmicks, games, or tricks. Just broadband. Learn more at http://www.netblazr.com/
----- RELATED: Q&A with netBlazr Co-Founder & CEO Jim Hanley -----
Apperian Closes $12 Million In Series C Funding
Company Growth Accelerates as App-Centric Security and Management Take Center Stage and MDM Alone is Deemed Insufficient
Apperian® Inc., the mobile application management and security company, today announced it has completed a $12 million Series C funding round. New investor First Floor Capital joins Bessemer Venture Partners, Kleiner Perkins Caufield & Byers, North Bridge Venture Partners, Intel Capital and CommonAngels Ventures in backing Apperian. The funding will be used to fuel growth and platform innovation as CIOs and line-of-business leaders increasingly need to secure and manage the proliferation of apps and data in the enterprise. READ MORE
Harmonix Raises $15M
Per SEC Filing, Harmonix has raised $15 million. Harmonix is one of the world’s leading independent game development studios, best known for creating blockbuster franchises like Rock Band and Dance Central.
Databox Raises $3.3M Seed Round
Data startup Databox has raised $3.3 million in seed funding to help marketers and managers recognize and take action on the metrics that matter most for their business.
The funding round was led by Founder Collective, and joined by Accomplice and other investors.
Databox, an alum of Techstars Boston, helps marketers and managers at web-based businesses focus on their most important key performance indicators. The app integrates with popular online services such as Hubspot, Google Analytics, Intercom and more to pull key metrics from a variety of sources. Marketers can then set up custom alerts and personalized “scorecards” to track their metrics in real-time through an intuitive mobile app.
The company was founded by serial entrepreneurs Davorin Gabrovec and Vlada Petrovic. “We’re not trying to give people more data, or simply more ways to view their data.” Gabrovec said. “We’re helping them pay attention to the data they already have, at the time that it needs their attention.”
Unlike earlier generations of data monitoring and analytics apps, configuring Databox is straightforward and requires no technical expertise or development work.
In addition to continuing to build the product, funding will also go toward growing the Databox team. Swami Kumaresan, previously a senior executive and member of the founding team at Carbonite (Nasdaq: CARB), recently joined as CEO.
“Businesses are swimming in data, but few businesspeople are able to regularly cut through the clutter and pay attention to the metrics that actually matter,” Kumaresan said. “With Databox, marketers can set up alerts to be proactively notified when an important KPI isn’t tracking to target, or when a campaign performs exceptionally well.”
Lead investor David Frankel of Founder Collective added: “Databox is doing something truly different: bubbling up important, actionable information — without asking businesses to undertake extensive integrations and long implementations.”
Databox has previously raised $400,000 in funding, bringing the total raised to $3.7 million.
Databox is a data monitoring app that makes it easy for marketers and managers to pay attention to important metrics, right when they matter most. Users can track their KPIs by hooking up to popular services like Adobe Analytics, Hubspot, Google Analytics and more, with just a few clicks. Customizable alerts and proactive notifications delivered via a mobile app ensure marketers and managers can act on important data points quickly. Databox is a TechStars alum with offices in North America and Europe.
Ivenix Inc. Secures $42 Million in Funding
Ivenix Inc., a medical technology company developing a next-generation infusion management system, closed on a $42M round of equity financing led by new investor WuXi Healthcare Ventures. Cardinal Partners, CICA, Inc., Easterly Capital, Fidelity Biosciences, and SCP Vitalife Partners also participated in the round. This financing will support the company's efforts to enter the $6B global infusion market. Leerink Partners LLC acted as the exclusive placement agent for the financing.
While drug therapies have become more complex and impactful, infusion pumps on the market today still rely on legacy technology. The outdated technology can cause medication errors that are estimated to cost the U.S. healthcare system more than $2 billionannually1 and can complicate and disrupt the flow of care. In response to multiple concerns in the marketplace, the FDA issued more stringent guidance for infusion systems in December 2014.
The Ivenix Infusion Management System is designed to improve patient safety and workflow efficiency, and has three unique differentiators designed to dramatically reduce errors:
A fundamentally new pump delivery system delivers medications at a steady and consistent rate under all clinical conditions, without requiring nurses to manually adjust the height of the bag or the pump settings to deliver fluids at the correct rate.
- An intuitive, smartphone-like user interface guides the nurse through the setup of the prescribed medication, alerting the nurse to any potential medication complications along the way.
- A powerful information technology system shares infusion data with the patient's electronic medical record (EMR), and gives nurses and clinicians mobile access to secure data. The system also includes built-in quality and analytics tools, giving providers the ability to understand and report quality metrics.
"The Ivenix Infusion Management System is designed to address all the major pain points that exist with older systems," said Jesse Ambrosina, co-CTO and Vice President of Infusion Systems. "Our team has completed hundreds of hours of testing, and we're on track to deliver a system that not only fully adheres to the current FDA guidelines, but is also cost-effective."
"Over the past few years Ivenix has assembled a world class development team that is passionate about saving lives and sees tremendous opportunity to increase safety, ease-of-use and help improve patient outcomes," said George Gray, co-CTO and Vice President of Information and Software Systems. "From the start, we worked closely with nurses and other key stakeholders to understand their workflow and priorities. Those conversations have allowed us to develop a completely fresh, fully-integrated infusion management system – designed to prevent the errors inherent in currently-available systems, and enable clinicians to spend more time on what really matters – patient care."
About Ivenix Inc.
Ivenix, Inc. is a venture-backed medical device company with a vision to transform infusion delivery in every care setting, globally. The company is focused on bringing its first product to market, a new and innovative infusion management system for hospitals. The system combines integrated state-of-the-art information technology and simplicity with an adaptive fluid delivery platform that continuously measures flow. The company is headquartered in Amesbury, Massachusetts. For more information, visit www.ivenix.com. See Release
** Learn more about Ivenix on their VentureFizz BIZZpage **
Profitero Raises $8M in funding
Profitero, a SaaS provider of online insights and e-commerce intelligence for retailers and brands, has raised $8 million from Polaris Partners. It will use the funds to double its 40-strong engineering team and expand its presence in North America and abroad. Profitero says it want so be the “Nielsen for online global retailers and brands.” It currently has Staples, Sam’s Club, Waitrose and Ocado as customers, monitoring over 220 million prices in near real-time. READ MORE
ikaSystems raises $120M in funding
IkaSystems, a Southborough, MA-based provider of software for the healthcare payer market, saidit has finalized an investment from New York City and Palo Alto, CA, private equity fund Essex Woodlands Health Ventures, a month afterreeling in capital from Providence Equity Partners. The terms of both deals were undisclosed, but Venture Wire reports that Providence and Essex Woodlands pumped a total of $120 million into the company. READ MORE
Klaviyo Raises $1.5M
Klaviyo, the intelligent platform for ecommerce email campaigns, has raised $1.5M in funding from Accomplice and select angels, including David Cancel, Elias Torres and TJ Mahoney. Founded in 2012, Klaviyo has developed a system that analyzes disparate and often real-time data points, about individual customers and prospects, in order to automate personalized communications. The solution is being used at thousands of ecommerce companies to maximize return on email campaigns; and Klaviyo will use the new funding to accelerate growth in development and sales/marketing.
“Email campaigns have become synonymous with mass blasting giant lists of people with the same email, leading to a world where our inboxes are crowded, spam folders full, and we don’t engage with or like the emails we receive,” said Andrew Bialecki, co-founder and CEO of Klaviyo. “Klaviyo solves this problem. We plug into different data sources that companies already have and use that data to personalize communications to customers and prospects. We are excited that our investors share our vision for transforming ecommerce marketing.”
Almost a trillion emails are sent each month. Current email platforms are primarily focused on sending large quantities of messages that are the same for everyone, with very little personalization. Through its simple and intuitive API, Klaviyo integrates with an ecommerce company’s data sources to better understand their customer’s relationship with the brand (i.e. what they have or haven’t bought, website activity, engagement with previous communications, events attended, products returned and more). As a result, the Klaviyo platform understands the customer’s behavior and can target and/or trigger personalized communications at the optimal time.
“Klaviyo has created a powerful email marketing platform that is incredibly easy to use; being able to run small, hyper-targeted, personalized campaigns is the holy grail for marketers,” said Jon Karlen, a partner at Accomplice. “Andrew and Ed have already built a successful company and they are the perfect team to lead it through this rapid growth phase.”
Andrew Bialecki and Ed Hallen founded Klaviyo in 2012, after working together at Adaptive Predictive Technologies (APT) where they built big data-driven marketing solutions for Fortune 500 companies. “We started working with companies and realized what a frustrating, manually-intensive process it was to email someone who had bought a suit two months ago but not the perfect matching shirt and tie. That’s when the opportunity became clear,” said co-founder Ed Hallen. On average, Klaviyo’s customers earn ~$75 for every dollar spent.
Klaviyo helps brands build stronger relationships with their customers through communications that are personal and predictive. For more information, visit www.klaviyo.com.
See Blog from Klaviyo Founders
Mobee Closes $5M Series A Financing
Mobee, the leader in Real-time Crowdsourced Data & Insights For Brands, Retail & Asset Management Firms, has closed on a $5M Series A financing. The financing was led by Flint Capital (www.flintcap.com) and Flint Capital's Partner, Sergey Gribov, will be joining Mobee's Board of Directors. Funds will be used to expand market reach and client engagement as well as continuing Mobee's rapid evolution of industry-leading technology for crowdsourced intelligence gathering. That real-time technology offers direct visibility to the retail store, aisles and shelves providing alerts and data and analysis tools for an immediate view into brand and retail execution, performance and competition. With a national reach, Mobee is poised to collect thousands of geo-located data points and photographs in a matter of hours, not months.
Existing investors Stage 1 Ventures, Atlas Venture, and InterWest Partners also participated in this round.
"I am thrilled to have Flint Capital on the Mobee team and to have Sergey join our Board of Directors. Flint brings a pragmatic and supportive approach to venture investing and have been a pleasure to work with through this financing," said Hal Charnley, Mobee's President/CEO.
"Mobee personifies the type of investment that we seek at Flint. A young, vibrant team with a firm grasp of their market and the ability to dominate their category. As a Boston-based firm, we're excited to have an investment in our own backyard," said Sergey Gribov, Flint's Partner.
Mobee was founded in 2011 with a vision to use mobile technology and the power of the crowd to collect the world's offline data. Mobee is the leader in real-time crowdsourced data & insight for brands, retail and asset management firms. Mobee provides direct visibility to the stores, aisles and shelves, real-time alerts and data and analysis tools, providing immediate view into retail execution, performance and competition. With a national reach, Mobee is poised to collect thousands of geo-located data points and photographs in a matter of hours, not months. Brands & retailers can now get real-time insights into the leading drivers, "the whys," of their retail sales across critical performance insights including; new product launch, competitive intelligence, seasonal program check, in-store promotions & displays, product availability & shelf positioning, product demonstrations, sales associate training & customer messaging. For more information visit us at http://www.getmobee.com
About Flint Capital
Flint Capital is a $100 million international investment fund with offices in USA (Boston and Palo Alto), Israel and Europe. It was founded in 2013 to support the best entrepreneurs, wherever they are. Flint is a multi-stage venture fund, which focuses on investments in mobile, SaaS, Advertisement, Financial as well as Security and Enterprise sectors of high technology. More information can be found at www.flintcap.com.
SmackHigh Raises $1.65 Million in Seed Capital
SmackHigh, a social consumer start-up for teens, today announced that it has raised $1.65M in its seed round. The round was led by Flybridge Capital Partners, with major participation from an AngelList syndicate led by Wayne Chang, Head of Product Marketing, Mobile Platform at Twitter, and Boston Seed Capital. Also participating were Mike Baker of DataXu, and several prominent angel investors from the Boston area, including David Chang, formerly of PayPal. SmackHigh amplifies the teenage voice, specifically for high school students, by aggregating news-based submissions from high school students themselves via social media vehicles on Twitter and its own website, and then distributing them across thousands of high schools across the country. With hundreds of thousands of teens in communities currently operating in 26 states, SmackHigh plans to use the funding to broaden its nationwide community presence and continue to invest in its technology platform.
SmackHigh is a posting service for teens, organized by geography and based on common interests relevant to every day high school student life. The platform gives teens a way to connect and express themselves within the context of the school communities they care about, and more importantly, within the context of relevant topics and interest groups. By putting community first, SmackHigh empowers teens to define the identities of their communities and the affinity groups that exist within them, e.g. basketball players, freshmen only, etc. This adds context to the discussions and gives all high school students a way to relate and engage, be it with students within their own core affinity groups or those belonging to others. Teens post anonymously through the identity of their school community, thereby allowing full freedom of expression and fluid movement between social groups.
Facilitating the conversations are the SmackHigh reps, thousands of teens from the SmackHigh community who both provide gentle moderation, but also serve as a continued feedback loop between their respective high schools and SmackHigh. This mechanism has allowed the SmackHigh community to grow organically and authentically, yet safely using the voices of teens as the boundaries.
“The teen voice is powerful, but has often been overlooked or gone unheard because it’s been buried in communities that are either too disperse or too general,” said Giuseppe Stuto, CEO of SmackHigh. “SmackHigh gives teens an easy and fun way to build and control the evolution and tones of their own spaces in a very meaningful and relevant way, which is an essential need of our next wave of online community builders.”
This strategy has led to strong organic growth, with over 800,000 opt-in followers concentrated in tight geographic communities that span 26 states via Twitter and, more recently, Snapchat. The pace of growth has increased sharply over the last year; SmackHigh boasts more than 800% growth in monthly submissions from February to June, bringing total monthly timeline impressions to over 450 million.
“Teens are obsessed with group messaging and communicating via their mobile phones,” said Jeff Bussgang, Flybridge general partner. “SmackHigh is appealing to this obsession by providing an open, social networking platform that provides teens anonymity yet in the context of their core school community.”
SmackHigh will immediately invest in growing its platform, expanding its SmackHigh rep presence, and further marketing geography and channel expansion.
About Smack, Inc.
Smack, Inc.’s service, SmackHigh is a geographically centralized social consumer posting service for teens that leverages Twitter and Snapchat to allow teens from the same geography to connect and build community. SmackHigh was founded in 2013 as a casual place for teens to connect on Twitter; under the leadership of Giuseppe Stuto (CEO), Frank Iudiciani (CMO), and Kevin Flynn (CTO), the Company has to date amassed over 800,000 followers nationally, generating over 450 million monthly timeline impressions.
Celect Raises $5M in Funding
Celect, a fully data-driven customer choice modeling suite, launched today with $5 million in Series A funding led by August Capital with participation from Activant Capital Group.
The Boston-based company, founded by MIT professors Vivek Farias and Devavrat Shah, uses a fundamental technological breakthrough in machine learning, which allows retailers to truly understand their customers’ buying patterns. This technology enables merchandisers, retail planners and inventory analysts to create optimized and localized product assortments, and in turn, increase inventory turnover and revenue while fostering a better customer experience. An early pilot of Celect’s technology in ten stores at The Bon-Ton Stores, Inc., a regional department store, operating 270 locations across the US, shows positive increases in in-store revenue over the control group...READ MORE
Toast Raises $3M in Funding
As per SEC filings, Toast in Boston, Massachusetts has raised $3M in debt financing. Toast is an all-in-one POS and restaurant management solution with powerful tools to cut costs, drive revenue, and engage customers... READ MORE
Datadog Raises $31M
Datadog, a cloud service that helps customers monitor infrastructure and software, whether all in the cloud or a hybrid on-premises-cloud environment, announced $31M in Series C funding today.
The round was led by Index Ventures with help from RTP Ventures, OpenView Venture Partners and what they referred to as “other equity holders.” Index and OpenView helped fund the Series B round last February, and RTP has been involved since seed funding in April, 2011.
The $31M brings the total raised to $53.4M. READ MORE
Tesora Closes Addition Funding
Red Hat Expands Collaboration with Tesora, OpenStack Database as a Service Company
CAMBRIDGE, Mass., August 13, 2015 – Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, announces that Red Hat and others have invested in the company as a part of Tesora’s latest funding round.
The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to February 2014 when Tesora was re-launched with the mission to become the market leader in database as a service (DBaaS) and OpenStack Trove. Most recently, the Tesora DBaaS Platform Enterprise Edition added support for Red Hat Enterprise Linux OpenStack Platform 6.
Today, Tesora is the number one contributor to OpenStack Trove and ranks among the top 20 companies contributing to OpenStack overall as measured by Stackalytics, alongside Red Hat and other Tesora partners. This reflects the transformation of Tesora’s development team to focus on the OpenStack DBaaS project.
“We are pleased to have an open source pioneer like Red Hat as an investor and partner,” said Ken Rugg, founder and CEO of Tesora. “We look forward to collaborating more closely with Red Hat to provide customers with databases on demand on OpenStack clouds.”
“Red Hat’s participation in Tesora’s latest financing round expands on the technical and go-to-market collaboration between our companies,” said Radhesh Balakrishnan, general manager, OpenStack, Red Hat. “Community-powered innovation like OpenStack Trove and companies like Tesora driving this innovation forward are essential components to accelerate the adoption of OpenStack as the platform of choice for cloud infrastructure.”
In addition to the investment from Red Hat, the world’s leading provider of open source solutions, existing investors including LaunchCapital also participated. In June, Tesora announced investors in the initial phase of the funding round. Funds will be used to further scale Tesora sales, marketing and product development efforts. The closing of the most recent financing round brings Tesora’s total financing to $14.5 million.
About OpenStack Trove
OpenStack Trove database as a service is transforming the way databases are provisioned and managed, to make database capacity that can be consumed on-demand. Trove lets administrators and DevOps manage multiple instances of different database management systems (DBMS), both relational and NoSQL, using a common infrastructure. This makes it much easier and faster to select and operate a database – while retaining all its capabilities – in a secure private or public cloud. The result is that routine tasks like provisioning, and managing regular administrative tasks like clustering, replication, backup and restore are handled in a simple, unified way.
Tesora brings more than 200 years of cumulative database technology experience to the OpenStack community, helping organizations get the most from their OpenStack investment by making it easy to deliver database capacity on demand. The company is the leading contributor to the OpenStack Trove project and developer of Tesora DBaaS Platform Enterprise Edition, the first commercially-available product based on Trove. To learn more about Tesora visit www.tesora.com. READ MORE
RIFT.io Raises $16 Million In Series A Funding
BURLINGTON, Mass. – August 13, 2015 – RIFT.io, today announced the completion of a $16 million series A round of funding, led by North Bridge Venture Partners with participation from other strategic investors. The funds raised will be used to continue the development of RIFT.ware, the company’s open source network virtualization platform, and expand its world-class product, design, and engineering teams, while growing its marketing and customer support capabilities.
RIFT.io was founded in 2014 by CEO Greg Alden, an industry veteran joined by fellow co-founders, CTO Tim Mortsolf and CDO Matt Harper. The company features a talented leadership team including CSO Tony Schoener; CFO Scott Bryce, and SVP, Business & Market Development Vincent Spinelli, who have decades of experience in networking and enterprise software and held senior management roles at Cisco, Starent Networks, Juniper, 3COM, Redback, EMC, Arrowpoint and Movik Networks. Headquartered in Burlington, MA with offices in San Jose, CA and Bangalore, India; RIFT.io specializes in open source, hyperscale network virtualization software that simplifies the development, deployment and management of virtual network services, applications and functions.
The RIFT.io founders believe that network services need to migrate from proprietary appliances to open, hyperscale networking software services in order for virtual network functions (VNFs) to be relevant in cloud networks that support Web, mobile, and IOT-centric applications. RIFT.io promises to fundamentally change the economics of the networking industry and help customers reduce complexity and accelerate service velocity.
“The walls between network product suppliers and network service consumers are disappearing. Our goal from day one was to build a platform that would provide everyone with the same capabilities and technology enjoyed by the largest networking technology companies,” said Greg Alden, chief executive officer of RIFT.io. “Robust Open Source components, high performance general purpose computing, and RIFT.ware make this a reality. Our software addresses the unique challenges and complexities of network applications and leverages the best of open source and hyperscale data center technology to bring innovation, lower cost and an emerging community of value-adding solution providers.”
Network applications and VNFs built with RIFT.ware combine the economics and scale of hyperscale data centers with the security and availability of carrier-grade network services. Companies can start with a single network application or service on a single virtual machine (VM) on any cloud platform and scale to any number applications, VMs, and locations on multiple clouds with no capacity constraints or distance limitations. This dramatically lowers the risks associated with rolling out new services, allowing providers and enterprises to easily trial and evolve services to determine what best meets the needs of customers.
“Benu Networks has been a leader in developing network solutions that embrace virtualization and cloud technologies,” said Dino Di Palma, CEO, Benu Networks. “ Partnering with RIFT.io has sped our development of solutions for the connected home, helped us build a more robust, scalable virtual network application and allows us to target any customer on any cloud infrastructure, at any scale.”
Network function virtualization promises the same transformation in network applications that virtualization delivered to Web-based applications. Virtualization is now foundational to over $3 trillion in annual IT spending. The transformation in network applications, driven by the Internet of Things and the growth in the number of connected devices, will have an even larger impact and the pace of change will be unprecedented. According to Beecham Research, the world will be host to more than fifty billion device connections by the year 2020, emphasizing the importance of scalability, security and efficient connectivity.
“At North Bridge we invest in great ideas and great teams. It is rare to find a team that can adapt so easily to the changing market and technology requirements, especially a team has worked together for many years.” said Ed Anderson, managing general partner of North Bridge. “Our most successful portfolio companies have been the disruptors with bold ideas and the capability to achieve their potential. The pace of software innovation is changing everything and we are thrilled to be working with RIFT.io as a true partner to accelerate the transformation.”
Rift.io recently joined the Intel® Network Builders program in July, an ecosystem dedicated to accelerating the transition to SDN and NFV solutions based on industry open standards.
“NFV service orchestration will require increasing intelligence that can best determine how to take advantage of the underlying hardware capabilities and apply them to the right workload.” said John Healy, General Manager, SDN Division, Intel Corp. “By joining the Intel Network Builders program, RIFT.io will help to accelerate the adoption of NFV and enable service providers and enterprises to take advantage of key capabilities such as enhanced platform awareness (EPA) on Intel architecture.”
RIFT.io will be showcasing their software August 18th – 20th at the Intel Developer Forum being held at the Moscone West Convention Center in San Francisco, CA. Come visit the company in booth # 163.
RIFT.io makes it simple for network service developers, enterprises, and service providers to create, deploy, and manage Web-scale network applications and virtual network functions (VNFs). Network applications and services built with RIFT.io technology combine the economics and scale of hyperscale data centers with the security and availability of carrier-grade network services. RIFT.io is a privately held, global company with offices in the United States and India. For more information about RIFT.io, visit http://riftio.com/. Follow us at @RIFT_io.
About North Bridge
North Bridge Venture Partners and North Bridge Growth Equity are active partners with entrepreneurs providing seed-to-growth financing for innovative companies looking to disrupt big markets. With nearly $4 billion in capital currently under management, North Bridge partners, many founders themselves, work with entrepreneurs to apply their expertise in the creation, operation and scaling of market-leaders. The firm has funded more than 200 companies creating many billions in market value. The firm has offices in Boston, MA and Palo Alto, CA. To learn more about North Bridge go to www.northbridge.com. Follow us at @North_Bridge
 M2M World of Connected Services. 2009. Infographic. Beecham Research, Boston. Web. 22 Jul 2015.