Rakuten takes a majority stake in The Grommet
Today Daily Grommet,
the online marketplace and product launch platform for undiscovered
consumer products, announces the second tranche of investment by Rakuten,
the third largest online marketplace in the world, and a rebrand that
includes a name change to The Grommet. This investment makes Rakuten the
major stakeholder in the business. This significant news in The
Grommet's history marks the company's success in levelling the playing
field so that the best products and companies coming out of the
"hardware renaissance" can succeed. The Grommet's disruptive business
model gives consumers a trusted place to engage with the stories and
people behind the explosion of new consumer products. It does so by
discovering, launching, and sharing up-and-coming products with an
emerging e-commerce shopper looking for meaningful products to buy
online. READ MORE
SimpleTuition raises $4M in funding
SimpleTuition, Inc., a leader in providing tools and resources that help
students pay less for college-related expenses and be smarter about how
to manage their student debt, today announced it has closed a $4 million
Series D funding round. This round of funding was led by previous
investors Atlas Venture, Flybridge Capital Partners, and North Hill
Ventures. The new funds will be used to fuel the growth of
SimpleTuition's three core businesses – student loans, textbooks and
rewards – with investment in product development, marketing and business
development. READ MORE
DraftKings raises $7M in funding
DraftKings, Inc., a leading provider of daily fantasy sports online with
offerings across the board in fantasy baseball, fantasy football,
fantasy basketball, and fantasy hockey, has closed a $7M Series A round
of funding led by Atlas Venture. DraftKings plans to use the money to
continue to perfect the customer experience and to broadly market its
online and mobile offerings in short-term fantasy sports play. Featuring
daily fantasy sports contests and same-day settlement, DraftKings makes
playing fantasy faster and more exciting for both seasoned and casual
players. Launched on April 28, 2012, the funding announcement comes
right as the company is celebrating its first anniversary. READ MORE
Fashion Project raises $1.8M in funding
As reported by TechCrunch, Fashion Project in Boston, has raised $1.8M in funding from Atlas Venture, High Peak Ventures, Schooner Capital, and other angel investors. Fashion Project is an eCommerce site where you can done and shop for designer labels with a portion of every sale going to charity.
TripAdvisor acquires Jetsetter.com
Inc. today announced it has acquired Jetsetter.com, a leading
members-only private sale site for hotel bookings. The Jetsetter brand
will continue to operate out of New York City and will be incorporated
into Smarter Travel Media.
"Jetsetter is an outstanding brand and I am absolutely delighted to
welcome the Jetsetter team to the TripAdvisor family," said Steve
Kaufer, co-founder and CEO TripAdvisor, Inc. "With Jetsetter and our
own SniqueAway brand, we now have two leading travel private sale sites
under one roof. We are excited by the opportunities this provides to
continually help drive amazing value for our travelers staying at some
of the world's most highly-rated hotels."
TripAdvisor acquires Tiny Post
TripAdvisor®, Inc., today announced it has acquired Tiny Post (tinypost.co), the highly acclaimed app that lets you write over photos and turn them into stories. The Tiny Post team will be based in TripAdvisor's Palo Alto office.
"The Tiny Post team have created a wonderful app that shows the
possibilities of combining travel photos with social and mobile," said Steve Kaufer ,
co-founder and CEO TripAdvisor, Inc. "We think Tiny Post is a great
fit with our continued drive to provide engaging and sharable content
and I am happy to welcome this strong team to TripAdvisor." READ MORE
EverTrue raises $5.25M in funding
EverTrue, an education fundraising platform, today announced a $5.25
million Series A funding round led by Bain Capital Ventures with
participation from existing investors Boston Seed Capital, TechStars CEO
David Cohen, Bonobos CEO Andy Dunn and Trunk Club CEO Brian Spaly. Bain
Capital Ventures joins a prestigious list of higher education leaders
who have invested in EverTrue including Harvard Corporation Member Paul
Finnegan, Brown University Trustee Sam Mencoff, Northwestern University
Trustee Tim Sullivan, University of Pennsylvania Overseer Jim Perry,
Georgetown Regent Brendan Carroll, former University of Chicago Trustee
Ned Jannotta and Buckley School Trustee Thomas Lehrman. READ MORE
Polar raises $1.2M in funding
Battery Ventures participated in a $1.2 million seed round for iPhone app Polar. Other investors in the round include Yahoo founder Jerry Yang at AME Cloud Ventures; John Lilly at Greylock Partners; Maynard Webb from Webb Investment Network; and Ash Patel at Morado Ventures. Polar is a super-fast and easy way to create and vote on great-looking photo polls.
Plastiq raises $6M in funding
Plastiq, an online payments solution provider based in
Boston, Massachusetts with offices in Toronto, Canada has closed a $6M round of
Series A financing. The round was jointly led by venture capital firms Atlas
Venture and Flybridge Capital Partners. Investors from the previous round,
NextView Ventures and Greenoaks Capital Management LLC, also participated
alongside angel investors including Harvey Golub, former Chairman and CEO of
Consumer United raises $52.5M in funding
As reported by the Boston Business Journal, Consumer United has raised $52.5M in fudning led by Spark Capital and Thayer Street Partners. Consumer United is a website focused on helping people shop online for
personal auto and other insurance products by enabling shoppers to
quickly compare rates and find better coverage
from companies that best fit their individual and family needs.
Timbre raises $360K in funding
Intrepid Pursuits LLC, maker
of the location-based music discovery app Timbre, has secured a seed
funding round of $360,000 to commercialize and further develop the app
as it launches world-wide. Atlas Venture, Boston Seed Capital, and Bantam Group led the round.
Sonicbids acquired by Backstage
LLC, the world's most trusted name in casting, auditions and
entertainment-industry opportunities, today announced that it has
the leading platform for bands to connect with promoters and market
themselves online. The deal, financed by Guggenheim
Partners, combines the two leading entities for actors, musicians,
casting directors and promoters to showcase and discover talent. Terms
of the transaction were not disclosed.
Backstage and Sonicbids come from the same heritage of matching artists
with opportunities. For more than 50 years, Backstage has been the
world’s most trusted name in casting, auditions and
entertainment-industry opportunities. It helps actors, singers and
dancers find opportunities, while connecting casting directors,
producers, directors and choreographers with amazing talent.
Care.com acquires Parents in a Pinch
Care.com (http://www.Care.com), the
largest online care destination in the world, has acquired Parents in a
Pinch, a leading back-up child and adult care specialist, broadening its
service offerings for employers and members. Terms of the transaction,
which closed on December 31, 2012, were not disclosed.
Parents in a Pinch,
which is currently based in Brookline, MA and will relocate to
Care.com's offices, is now a wholly owned subsidiary of Care.com and
will continue to be run by co-founders Barbara Siegel and Davida Manon.
LoopIt raises initial funding
Redstar Ventures, a Cambridge-based “venture foundry” announced on Wednesday that the early-stage venture capital fund Avalon Ventures has led an investment in LoopIt, an operating company from Redstar Ventures. The investment is the first external seed funding for LoopIt and will be used for research and development of its “conversation engine,” which is designed to help consumers tap friends across their social networks for advice when shopping online. Redstar said LoopIt is just one of the operating companies it will formally announce in 2013.
Kitsy Lane raises $3.5M in funding
Kitsy Lane, a Maynard, MA-provider of a social commerce platform for at-home entrepreneurs, has raised $3.5m in a Series A funding. The round was co-led by Data Point Capital and Longworth Venture Partners, with participation from existing investor Point Judith Capital. In conjunction with the funding, Data Point Capital’s Scott Savitz, will be joining the company’s Board of Directors.
Launched in July 2012 by CEO Andy Fox, Kitsy Lane provides a social commerce platform that is designed to enable store operators to quickly launch their own Internet jewelry and accessories boutique. In just five months since the launch, the Kitsy Lane community has grown to over 22,000 women owned and operated businesses.
Nimbit acquired by PreSonus
PreSonus™ Audio Electronics, a leading designer and manufacturer of
audio-recording software, hardware, and related accessories, today
announced it has acquired Nimbit®, Inc., the pioneers of
direct-to-fan sales and promotion for the music industry. The Nimbit
acquisition extends PreSonus’ strategic vision of empowering musicians
and audio professionals with an ecosystem of products and services.
Ovuline raises $1.4M in funding
Ovuline, a leader in healthcare IT for pregnancy, today announced
$1.4 million in seed financing. Lightbank led the round, with
participation from Launch Capital, LionBird and Techstars founder and
CEO David Cohen. The funding allows Ovuline to continue development of
its mobile and Web-based Smart Fertility™ product and expand its
presence in the pregnancy tracking space.
Launched in June 2012, Ovuline uses technology and machine learning
to help couples have children, and its statistics show that Ovuline
users conceive two times faster than the national average. The company’s
fertility product, Smart Fertility™, has already helped 20,000 women
MustBin raises $1.4M in funding
As per SEC filings, MustBin has raised $1.4M in funding. MustBin is a stealth mode startup that is founded by serial entrepreneur Brian Shin, who is the founder & CEO of Visible Measures. According to his LinkedIn profile, MustBin is solving a big consumer problem and is backed by leading VC's and angel investors.
PatientsLikeMe raises $3M in funding
As per SEC filings, PatientsLikeMe in Cambridge, MA has added another $3M to a previous round of funding back in August. PatientsLikeMe
is the world's leading online health data sharing platform.
PatientsLikeMe creates new knowledge by charting the real-world course
of disease through the shared experiences of patients. While patients
interact to help improve their outcomes, the data they provide helps
researchers learn how these diseases act in the real world and
accelerate the discovery of new, more effective treatments.
Nara raises $3M in funding
As reported by the Boston Business Journal, Nara is Cambridge has raised $3M in funding, which was led by Account Management LLC. Nara is a consumer based recommendations service.
RallyPoint raises $1M in funding
RallyPoint, the Boston-based provider of a LinkedIn-type online
service exclusively for U.S. military service members, announced on
Tuesday it raised $1 million from a group of angel investors in
Founded by two veterans who met first while in Iraq and reunited at
Harvard Business School, RallyPoint is designed to help service members
advance their careers. The service launched onNov. 12, Veteran’s Day.
Wayfair raises $36M in funding to fuel growth of Joss & Main
Wayfair.com the largest online retailer of home goods and furnishings, announced today that it has secured $36.3 million in new equity financing to fuel the growth of Joss & Main (jossandmain.com),
the company's private sale site for the home. Joss & Main has
acquired nearly three million members and is operating at a $100 million
annual revenue run-rate to become the fastest growing flash sale site
for home goods and furnishings. Investors include Battery Ventures,
Great Hill Partners, HarbourVest Partners and Spark Capital.
Testive raises $500K
a 2012 TechStars Boston alumus, announced a $500K seed round lead by prominent
Boston angels. Testive builds educational testing and test prep software. Testive's
TurboTest™ platform was developed at MIT and can accurately predict students’
scores on the SAT® and other tests 3x faster than traditional practice tests.
fundraising round was led by several prominent Boston Angels including Jean
Hammond (an active angel and early investor in ZipCar and Pixibiity), Eileen
Rudden (Former Chief Officer of Chicago Public School’s College and Career Prep
Office), Dharmesh Shah (co-founder of Hubspot), and Bill Warner (founder of
Avid and active Boston Angel). Don McLagan, an investor and the former CEO of
Compete.com, has joined Testive’s Board as an observer.
Playrific raises $1.7M in funding
Playrific, a leading digital media aggregation service for children,
announced today that it has closed an oversubscribed $1.7 million round
of equity financing. The funding was lead by Golden Seeds, a network of
angel investors dedicated to investing in early stage companies founded
and led by women, with participation of investors from a variety of
other angel groups including Launchpad Venture Group, Walnut Ventures,
Northeast Angels and Maine Angels.
Fancred raises $500K in funding
As per SEC filings, Fancred in Brookline, MA has raised $500K in funding. Fancred is a social sports app that connects friends who want to talk sports.
Spindle raises $2.3M in funding
Spindle in Boston, MA has raised $2.3M in funding. Investors in Spindle include Polaris Venture Partners, Atlas Venture, Greylock Partners, Lerer
Ventures, SV Angel, Broad Beach Ventures, Project 11, Ray Ozzie, and Raman
Narayanan. Spindle is building
products that weave the online social world together with the world
CoachUp raises $2.2M in funding
As per PandoDaily, CoachUp in Boston, MA has raised $2.2M in funding from General Catalyst. CoachUp helps athletes achieve their full potential by connecting them with great private coaches. They recently graduated from the TechStars Boston accelerator program.
Priceline to acquire Kayak in $1.8B deal
Priceline.com Inc. plans to buy online travel-research
company Kayak Software Corp. for $1.8 billion to expand its travel
Priceline will pay about $500 million in cash and $1.3
billion in stock and assumed options. The deal values Kayak at $40 a
share, a 29 percent premium over its closing price Thursday.
of Kayak — which also reported a 78 percent jump in third-quarter
earnings — soared in after-hours trading while Priceline shares fell.
FlashNotes raises $1.8M in funding
Flashnotes, the online student-to-student marketplace for buying and
selling class material, has closed a seed round of $1.8M. The financing
was led by Ryan Moore of Atlas Venture and Jordan Levy of Softbank
Capital, with participation from angel investors Michael Lazerow
(Founder, Buddy Media), Paul Sethi (Founder, RedBooks) and Paul Tedeschi
(Founder, Mr. Youth), Sachin Jade (Klifer Capital) and Abigail Coxsen.
Zagster raises $1M in funding
Zagster, a company that provides bikes-as-a-service, today announced it
has raised $1,000,000 in funding, led by LaunchCapital and including
Fontinalis Partners, a strategic investment firm co-founded by Bill Ford
and focused exclusively on next-generation mobility companies. Several
leading Boston-area angel investors, including John Landry and Jean
Hammond (an early investor in Zipcar) also participated. The funding
will help the company accelerate a national rollout of its turnkey bike
sharing service aimed at the hospitality, real estate and employer