Data Mgmt / Business Intelligence
Datto Closes $75 Million Series B Round
Datto, an innovative provider of comprehensive data backup, recovery and business continuity solutions, today announced it has raised $75 million in a Series B investment round led by Technology Crossover Ventures (TCV), a leading provider of capital to growth-stage private and public companies in the technology industry. The company will use the proceeds from the investment round to continue to invest in its global expansion and to accelerate product innovation to support its thousands of partners worldwide. The Series B brings total investments in Datto to just over $100 million.
“Today is a great day for our managed service provider partners and customers,” said Datto founder and CEO Austin McChord. “Datto is proud to be adding TCV as an investment partner. TCV brings a wealth of experience and expertise to help us continue to grow, innovate and expand globally.”
“Since we are cash flow positive, Datto isn’t raising capital to fund operations, but instead, to enter new markets and build new products and technology,” McChord continued. “With this new investment, Datto is excited to be pushing ahead to build new technology and improve the experience for our MSPs and end users around the world.”
The financing comes as Datto is achieving record year-over-year revenue growth, rapidly expanding into EMEA and APAC, and launching additional solutions for its extensive partner network and customer base. Datto manages more than 160 petabytes of data and more than one million backups a week for its customers. Datto’s Total Data Protection Platform protects customers’ business data no matter where it lives - on premises, in virtual or physical servers, or in cloud-based SaaS applications.
“From our first meeting with Datto, we were impressed with the company’s innovation and leadership team, and we knew we wanted to play a role in moving this company forward,” said Ted Coons, general partner at TCV and new Datto board member. “Cloud-based data protection holds great promise in ensuring information is always accessible and recoverable as more organizations conduct business in the cloud, and Datto has a tremendous opportunity to grow internationally in meeting this need.”
In addition to Coons joining Datto’s board of directors, Datto also added two board additional members: Patrick Gray, a board director of Civitas Solutions, Inc.; and Ursula Burns, Chairman and CEO of Xerox Corporation. They are joining a board that includes McChord; non-executive Chairman Paul Sagan, the former CEO of Akamai Technologies; and Steve Herrod, former CTO of VMware and currently a Managing Director of General Catalyst Partners, which led Datto’s Series A financing.
Coons has nearly two decades of experience investing in multiple technology sectors, with a deep focus on IT infrastructure. Gray has served on the board of Sancilio Pharmaceuticals since February 2012, and on the board of Civitas since September 2014, after nearly four decades with PricewaterhouseCoopers. Burns has served as Xerox’s CEO since 2009, following her success in other prominent leadership positions for the company. Burns is also a member of the board of directors of American Express Company and Exxon Mobil Corporation.
About Technology Crossover Ventures
Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of capital to growth-stage private and public companies in the technology industry. With nearly $10 billion in capital raised, TCV has invested in more than 200 technology companies over the last 20 years. Selected investments include Altiris, C|NET, ExactTarget, Expedia, Facebook, Fandango, FX Alliance, GoDaddy, Genesys Software, Groupon, HomeAway, Netflix, RealNetworks, Redback Networks, Rent the Runway, RiskMetrics Group, Sitecore, Splunk, Spotify, Thinkorswim, VICE Media, and Zillow. TCV is headquartered in Palo Alto, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, please visit www.tcv.com.
Datto is an innovative provider of comprehensive backup, recovery and business continuity solutions used by thousands of managed service providers worldwide. Datto’s 160+ PB private cloud and family of software and hardware devices provide Total Data Protection everywhere business data lives. Whether your data is on-premises in a physical or virtual server, or in the cloud via SaaS applications, only Datto offers end-to-end recoverability and single-vendor accountability. Founded in 2007 by Austin McChord, Datto is privately held and profitable, with venture backing by General Catalyst Partners and Technology Crossover Ventures. In 2015 McChord was named to the Forbes “30 under 30” ranking of top young entrepreneurs.
ClearSky Data Raises $27 Million Series B Funding
ClearSky Data, provider of a global storage network that manages the entire enterprise data lifecycle, today announced it has raised $27 million in a Series B investment round led by Polaris Partners, with a strategic investment from Akamai Technologies. Previous investors General Catalyst and Highland Capital Partners also participated in the funding, which ClearSky will use to grow its sales, marketing and operations organizations, and add new points of presence (PoPs) in major metro areas. The round brings total investment in the company to $39 million.
The investment in ClearSky comes as the company breaks new ground with its managed service delivery model for enterprise storage, which combines the performance and availability of primary storage with the economics and scalability of the cloud. Polaris Partners recognizes this on-demand model represents the future of enterprise infrastructure and has a track record in building large, successful companies that transform industries. Akamai’s strategic investment in ClearSky reflects its belief in the company’s innovative approach to primary storage, which will help enterprise IT become more agile and take advantage of hybrid cloud adoption.
“Managing primary storage is a huge and poorly served challenge in the enterprise infrastructure market. Legacy systems have failed to address customer needs and no one has figured out how to leverage the economics and agility of the cloud – until now.
ClearSky has addressed this challenge head-on, creating a breakthrough software-as-a-service (SaaS) offering for primary storage,” said Dave Barrett, managing partner of Polaris Partners. “We’ve entered the next generation of the enterprise and ClearSky has a great opportunity to build the next major infrastructure company.”
The storage market is being transformed by the growth of cloud computing and the availability of new on-demand services. ClearSky leverages these elements to solve the challenges of traditional storage systems, which are costly, complex remnants of legacy infrastructure unable to support today’s huge and growing data footprints. Because status quo data storage infrastructure limits business flexibility, storage has become not only an IT priority, but also a boardroom priority. ClearSky’s fully managed service automatically caches data across a network of geographically distributed layers, making data available to enterprise users where and when it’s needed.
Andy Champagne, vice president and chief technology officer, Akamai Labs at Akamai Technologies said, “ClearSky’s global storage network is the way for enterprises to move their data to the cloud—with the security, performance and availability they need to succeed. At Akamai, we know firsthand how to build a global network that meets the stringent requirements of enterprise customers, and we look forward to working with the ClearSky team to help customers worldwide as they adopt this new approach to enterprise storage.”
Dave Barrett will join the ClearSky board of directors and Andy Champagne will join as a board observer. ClearSky board members also include Sean Dalton, general partner at Highland Capital Partners; David Orfao, partner at General Catalyst Partners; and market leaders Paula Long and Jit Saxena.
The ClearSky global storage network combines primary storage, backup and disaster recovery with on-demand scaling and agility. It automatically caches data – moving cold data to the cloud, keeping warm data in metro-based PoPs within 120 miles of customers, and storing a small portion of hot data on-premises. Customers retain the performance and availability of a local storage array with the comprehensive security, low latency and high availability required for enterprise applications.
“Polaris Partners and Akamai Technologies deeply understand what it means to create a breakthrough model for enterprise infrastructure,” said Ellen Rubin, CEO and co-founder of ClearSky Data. “We value their expertise as we focus on fast growth and market expansion during this next phase of our company’s development, and are excited to deliver a global service that will change enterprise storage forever.”
Clavis Insight Receives $20 Million Growth Equity Investment
Clavis Insight, the world’s leading provider of eCommerce store analytics to consumer goods companies, announced today it has received a US$20 million growth equity investment from Accel-KKR, a technology-focused private equity investment firm and existing investors.
The investment will be used to support the Clavis’ strategic growth initiatives including the expansion of sales and customer support efforts in United States, Europe and China and the continued innovation in its eCommerce Intelligence platform that is used by the world’s top 10 consumer packaged goods (CPG) companies and half of the next 100 CPG or fast moving consumer goods (FMCG) companies. For a video with more information on Clavis Insight’s solution, please visit: http://clavisinsight.com/?s=video
“We have built Clavis into the industry standard in eCommerce analytics for CPG brands by delivering a functionally rich and technologically robust platform that can be used globally. Today, Clavis monitors online retailers across more than 20 countries for our customers,” said Garry Moroney, chief executive officer, Clavis Insight. “The investment partnership with Accel-KKR allows Clavis to effectively capitalize on the growth opportunities ahead of the business, significantly broaden its leadership position in the industry and better support our consumer goods customer base.”
Clavis is poised to take advantage of the continued growth in online shoppers and the significant increases in online shopping in developed and emerging markets. According to a 2015 United Nations Conference on Trade and Development report, approximately 1.7 billion consumers will shop online by 2018, representing close to 20% of the world’s population.
“Clavis has created a leadership position in the market by uniquely tackling the most complex challenges global CPG brands face in measuring, monitoring and optimizing brand performance in the eCommerce channel. Accel-KKR is excited to partner with the team at Clavis to drive its expansion globally, which in turn will allow the company to further support its customers,” said Greg Williams, managing director, Accel-KKR.
About Clavis Insight
Clavis Insight is the Industry leader for online store analytics delivering actionable data, analysis and insights to enable consumer goods brands to track and optimize their online channel presence and performance. The eCommerce intelligence platform analyses everything consumers see in online retailer stores to quickly identify the actions brand owners and manufacturers need to take to drive profitable eCommerce growth, protect their brands and beat the competition online. For more information: www.clavisinsight.com.
Accel-KKR is a technology-focused investment firm with $4.0 billion in capital commitments to its current funds. The firm invests primarily in software and IT-enabled businesses well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions from minority-growth investments to buyouts, recapitalizations, divisional carve-outs and going-private transactions. The firm has offices in Menlo Park, Atlanta and London. For more information, please visit www.accel-kkr.com.
Dell Acquires EMC
Per Fortune, "The second-largest tech merger of all time is now official."
Dell Inc. this morning formally announced that it has agreed to acquire network storage giant EMC Corp. EMC -1.87% for approximately $67 billion.
Under terms of the complex deal, EMC stockholders would approximately $33.15 per share. This includes $24.05 per share in cash and $9.10 worth of a tracking stock for VMWare VMW -10.35% , an EMC-owned cloud and virtualization software company that already has around a 20% equity “stub” trading on the public markets. READ MORE
Aquto Raises $8 Million
BOSTON, October 7, 2015 – Aquto, a leader in sponsored data monetization, today announced the close of an $8 million Series B funding round led by Iris Capital. The round also included participation from STC Ventures and existing investors Matrix Partners and Northbridge Venture Partners. The company has raised over $16 million to date. Aquto plans to use the funding to expand its global footprint, making mobile data accessible for consumers around the world.
"As we move into the next phase of our business, we are excited to partner with investors that have global experience and unique capabilities that will accelerate our growth," said Susie Riley, Aquto CEO. "The new capital gives us fuel and flexibility to forge partnerships and collaborations with operators, brands and app developers who will help shape the future of the mobile experience."
The explosion of smartphones, social media and content has transformed the lives of billions globally. Recognizing the critical need for connectivity, Aquto is advancing the mobile internet in order to make data easily accessible to consumers. Aquto’s sponsored data approach includes:
- "Zero Rating" – allows mobile customers to engage with online content free of data charges
- "Data Rewards" – allows mobile customers to receive free data from third party sponsors that they can use to browse and stream content on their mobile device
"Sponsored data is the next major step in the evolution of mobile connectivity," said Alexander Wiedmer, Iris Capital Partner. "Aquto's strategic vision brings value to the telecom, publisher and advertising ecosystems and thus aligns well with Iris' own strategic partnerships with Publicis, Orange and STC, global leaders in advertising and mobile."
Aquto is the leader in sponsored data and data rewards with tier one operator deployments in the US, Europe and Asia. Founded in 2012 with headquarters in Boston, provides a frictionless way for app developers, advertisers and marketers to engage with users over mobile through zero rated content/apps and data rewards, and a new way for operators to monetize their data and network assets. For more information, visit www.aquto.com or follow @aquto on Twitter.
About Iris Capital
Iris Capital is a European venture capital fund manager specializing in the digital economy. Since its inception in 1986, the Iris Capital team has invested more than €1 billion in more than 250 companies. Iris has a strategic partnership with Orange and Publicis. It provides active support to its portfolio companies on the basis of its strong sector specialization and experience, and has offices in Paris, Cologne, Berlin, San Francisco, Montreal, Riyadh, Dubai, Beijing and Tokyo. For more information: www.iriscapital.com
About STC Ventures
STC Ventures is a venture capital fund, independently managed by Iris Capital, whose anchor investor is the Saudi Telecom Company. STC Ventures is focused on equity investments in the information technology, telecommunications, and digital media/entertainment sectors; seeking to support the development of innovative technology companies in Saudi Arabia, the GCC, Levant, North Africa and Turkey, in addition to funding globally minded international companies seeking capital and access to the MENA region. STC Group is the largest telecommunications company in MENA, ranked in the top 20 mobile networks in the world, and serving more than 160 million subscribers. www.stcventures.com
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 firstname.lastname@example.org.
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.
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.
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
DataDog Acquires Mortar Data
Here’s an obvious acquisition and product enhancement story. Datadog is a monitoring service built for the distributed, cloudy world. Datadog aggregates data from servers, databases, applications, tools and services in order to generate a unified view of application performance. The idea being that in a highly distributed world, only through holistic monitoring will the root cause of any performance degradation be found.
Mortar Data, on the other hand, is a small startup that is focused on helping companies build and run big data applications and data pipelines. Their raison d’etre is to help companies capture large amounts of data and then derive some meaningful insights from that body of information. READ MORE
Panorama Education Raises $12M Series A Round of Funding
Panorama Education (www.panoramaed.com), used by schools and districts for educators' professional growth and strategic planning, announced today that it has raised a $12M Series A funding round with participation from Owl Ventures and Spark Capital. Jed Smith, Co-Founder and Partner at Owl Ventures, and Andrew Parker, General Partner at Spark Capital, have joined Panorama's board.
Panorama currently serves more than three million students across 40 states. Schools and districts use Panorama to collect feedback through surveys and to analyze their data. Panorama helps teachers, principals, and district leaders understand and take action on key issues, including student engagement, family involvement, school culture, and teacher recruiting and retention. Of America's Top 100 largest school districts, 14 have already adopted Panorama -- unprecedented for a startup -- along with most major charter networks and hundreds of smaller districts across the country...
VoltDB Raises $9.8M in Funding
VoltDB today announced that it has raised a $9.8 million round of funding to extend its SQL in-memory database to power the next wave of real-time, fast data-driven applications. The round was led by strategic investors with participation from existing investors Kepha Partners and Sigma Prime Ventures.
Innovations in today’s enterprises are occurring at the intersection of fast data and Big Data through in-memory computing, streaming analytics and operational database technology. The rapid growth of mobility and the Internet of Things (IoT) drives the need for real-time data analysis and solutions that capture and process fast data to produce faster insight and action...READ MORE
Cazena Raises $20M in Series B Funding
Cazena today announced its emergence from stealth mode by launching an enterprise Big Data-as-a-Service that can securely move and optimize big data processing in the cloud in just three clicks. Cazena also announced it has raised $20 million in Series B funding led by Formation 8, with participation from current investors Andreessen Horowitz and North Bridge Venture Partners.
“Cloud is the next frontier for big data processing, yet complexity and security concerns hold most large enterprises back,” said Prat Moghe, founder and CEO of Cazena. “Cazena’s Big Data-as-a-Service is the first managed cloud service for big data processing that securely and seamlessly extends the enterprise datacenter with trusted cloud infrastructure and multiple, best-of-breed big data technologies. This assures the best price and performance for any big data workload, so enterprises can focus their efforts on delivering value, not managing technology... READ MORE
DataCamp Raises $1M Seed Round
Per TechCrunch, Cambridge-based DataCamp has raised a $1 million seed round.
DataCamp wants to teach data science skills to a generation of people, and it got a million in seed money to continue developing its online data-science learning platform.
The round was led by Chris Lynch at Accomplice, an early stage venture capital firm in Cambridge, Massachusetts. The company had raised $300,000 in seed money previously.
DataCamp is not unlike coding bootcamps such as General Assembly and Codeacademy, but instead of focusing on general coding skills, it concentrates on data science skills. READ MORE from TechCrunch
Francisco Partners Acquires HealthcareSource
Francisco Partners, a global technology-focused private equity firm, announced it has completed its acquisition of HealthcareSource, the leading provider of talent management solutions for healthcare. Peter Segall and the existing executive team will continue to lead the company.
“The potential of this partnership became even more evident during our work with the Francisco Partners team in the last few weeks as the transaction closed,” said Peter Segall, president and CEO of HealthcareSource. “I am confident that the firm’s resources and expertise will advance HealthcareSource’s growth.” READ MORE
Pneuron Corp. Announces $5 Million Series B-1 Funding
Safeguard Scientifics, Osage Partners and Scott Group LLC Invest into Distributed Analytics Company’s Accelerating Growth
WOBURN, Mass.—July 1, 2015--Pneuron Corporation, the pioneer of the distributed solutions category, today announced a $5 million Series B-1 funding round, led by Safeguard Scientifics and joined by Osage Partners and Scott Group LLC. With this additional investment, Pneuron raised $13.25 million in funding and has seen revenue grow at a CAGR of 173 percent (or comparative revenue growth of 639 percent) since the last funding round in March 2013.
“This new financing round will allow us to focus on hiring key scale-up resources in sales, sales engineering, and implementation to deliver on the significant growth over the last two years across the Distributed Analytics space and the new category of Analytics on the Edge,” said Simon Moss, CEO of Pneuron. “What we built helps companies realize the time-to-value and agility advantages of a distributed data and analytics approach. With Pneuron, businesses no longer need to invest large and burdensome time and costs to solve business problems that have been so poorly serviced by traditional data and systems integration models."
Pneuron’s strategy is to step investment, based on success and growth achievement, ensuring minimal dilution for staff, effective and measurable ROI for investors. Combining strong cash management with effective and disciplined organizational growth enables focused use of funds to help scale operations and support accelerating market success. This approach continues to advance the messaging of its innovative platform and paradigm into the market, and reinforces a corporate culture focused on EBITDA, revenue growth and cash effectiveness.
A growing number of customers see Pneuron’s Distributed Platform as a new and unique way to quickly and dramatically change their solution strategy for problems that are traditionally too expensive, manual or risky to solve. This new round of funding will support Pneuron’s ability to deliver on the promise of solving traditional problems composed of disparate and distributed data, systems, business processes and analytics across an organization with dramatic improvements in time to value and cost.
“We are well-positioned to deliver a strong second half of the year, with aggressive projected growth for 2016,” said Elizabeth Elkins, COO of Pneuron. “Our current client base has found significant success in Pneuron’s approach to solving distributed data, process and system challenges in the enterprise and we are planning for the additional resources needed to service our increasing customer base.”
Analytics on the Edge
Analytics on the Edge represents a fundamental shift in the way firms solve business problems where the requisite solution components are highly disparate and distributed. Pneuron offers the ability to manage distributed processing wherever companies need it and dramatically simplifies the effort required to build such solutions. With the Internet of Things, problem solving is going further out to the edge, and Pneuron offers next generation technology that can distribute and manage solution components that work with the diverse elements in this expanding environment in the most efficient manner - from applications to machines, devices and sensors.
This funding round comes on the heels of another 200 percent revenue and bookings growth year in 2014, Pneuron being named a 2015 Gartner “Cool Vendor”, a global alliance with HP and a new patent for Pneuron’s “distributed analytics method for creating, modifying and deploying software pneurons to acquire, review, and analyze targeted data.”
Pneuron enables organizations to rapidly solve business problems through a groundbreaking, distributed approach that cuts across data, applications and processes. By targeting the right information at the data source, companies are no longer faced with the complex integration and infrastructure requirements of traditional approaches. Pneuron’s innovative Distributed Solutions Platform enables the acceleration of business value and develops reports, products and applications in half the time and cost of traditional methods. Pneuron’s distributed approach is non-invasive, technology-agnostic and leverages an organization’s existing infrastructure, avoiding the deployment risks and IT concerns that are prevalent in today’s centralized data projects. For more information, visit us online at: Pneuron.com, on Twitter or LinkedIn.
Interactions Buys AT&T Speech Recognition Platform to Improve Interface Technology
AT&T has found a home for Watson — and it's not in the AT&T Labs. The speech recognition platform and some related patents were sold this week to Franklin, Mass.-based customer care company Interactions Corporation for an undisclosed amount of equity.
Interactions, which develops and markets natural language understanding technology, used by companies the likes of Hyatt, Best Western and Humana, will use the technology to improve its customer service system and create an "Interface of Things," Interactions CEO Mike Iacobucci said in a statement. READ MORE
Tesora Announces $4.5 Million New Funding
Funds will further scale Tesora sales, marketing and product development efforts
CAMBRIDGE, Mass., June 24, 2015 – Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has closed $4.5 million in venture financing. This is the first new investment in the firm since its successful re-launch as Tesora to become the market leader in database as a service and OpenStack Trove, which was done in February 2014.
The round includes new investors, Rho Canada Ventures, along with existing investors General Catalyst Partners, CommonAngels Ventures, Point Judith Capital and angel investors. This brings Tesora’s total financing to $13.2 million.
The OpenStack Trove database as a service project is transforming the way databases are provisioned and managed, to make database capacity that can be consumed on-demand like electricity. Tesora is the leading contributor to the Trove project, alongside other contributing companies like HP, Rackspace, eBay, and Red Hat.
“In early 2014, we made a significant business model change. This new investment further validates our belief in the potential of database as a service and the OpenStack Trove project,” said Ken Rugg, founder and CEO of Tesora. “Many enterprises are adopting OpenStack for private cloud infrastructure and we expect Trove and database as a service to be an important part of this.”
OpenStack Trove provides a scalable framework for operating a variety of different database management systems (DBMS) – relational and non-relational – through a single, common management infrastructure. This makes it much easier and faster to select and operate databases – while retaining all its capabilities – in a secure private or public cloud.
“We are excited about the continued growth in the OpenStack market,” said Sean Brownlee, partner, Rho Canada Ventures and newest member of Tesora’s board of directors. “As organizations continue to move workloads to OpenStack, we believe that Tesora will be uniquely positioned to deliver on the promise of open, enterprise database as a service in the cloud.”
About OpenStack Trove
Trove is the database as a service component of OpenStack that lets administrators and DevOps manage multiple instances of different database management systems (DBMS) using a common infrastructure. 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.
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* See release on Tesora.com here
Tamr Receives $25.2 Million in Financing
Global 500 Industry Leaders Join Forces with Tamr to Advance Scalable Data Unification
Tamr, Inc., the company co-founded by database pioneer and 2014 ACM A.M. Turing Award winner Michael Stonebraker, Ph.D., today announced that it has raised $25.2 Million in Series B financing from Hewlett Packard Ventures, Thomson Reuters, MassMutual Ventures, the corporate venture capital arm of Massachusetts Mutual Life Insurance Company (MassMutual), and others. Current Tamr investors NEA and Google Ventures also participated in the round. Tamr will use the funds to significantly grow sales as well as product engineering for Tamr’s scalable data unification platform.
Professor Stonebraker, Tamr’s CTO, will receive the Turing Award, often called the “Nobel Prize of Computing,” tomorrow at the 2015 ACM Awards Banquet in San Francisco. The award recognizes his extensive contributions to modern database systems, including founding Tamr and eight other start-up companies to commercialize database technologies.
The new investment by Hewlett Packard Ventures, Thomson Reuters, MassMutual Ventures and existing investors indicates both the broad adoption of Tamr by many of the largest companies in the world and broad recognition of the data-variety challenge faced by companies in many industries across many applications.
“We have strong and deep relationships with our partners at Hewlett Packard, Thomson Reuters and MassMutual Ventures, and we’re looking forward to extending our partnerships with them,” said Tamr co-founder and CEO Andy Palmer. “By recognizing and embracing the reality of heterogeneous data in large organizations, these companies are enabling themselves and their customers to compete on analytics.”
Said Michael Stonebraker: “Tamr’s technology and approach to scalable data unification will be the next big thing in data and analytics - similar to how column-store databases were the next big thing in 2004.”
“In an increasingly complex world, Thomson Reuters empowers our customers to be more informed, efficient and successful,” said Graham Cousins, Senior Vice President, Platform of Thomson Reuters. “World-class technology, integrated data, and powerful analytics are key to these efforts, and we look forward to working closely with Tamr to develop even more innovative solutions for the industries we serve.”
Tamr’s scalable data-unification platform dramatically reduces the time and effort required to connect and integrate diverse, siloed data for business analytics. Tamr combines machine learning algorithms with collective human insight to identify sources, understand relationships and curate the massive variety of silo-ed data, giving customers dynamic 360-degree views of their businesses. Customers are using Tamr for procurement optimization, customer data integration, clinical trials management and many other use cases.
“HP already has a deep partnership with the Tamr leadership team, and we’re thrilled to strengthen it with this investment,” said Lak Ananth, Managing Director, Hewlett Packard Ventures. “Prior to founding Tamr, Andy and Michael co-founded Vertica, which is now a key pillar of HP’s Big Data platform. As a strategic partner, we’ll help Tamr build enterprise-grade products and a global go-to-market strategy.”
“The insurance and financial services industries have long been drivers in effective data integration, and we are excited to forge a working partnership with Tamr through this investment,” said Allan Campbell, MassMutual’s Chief Technology Officer. “The ability to use 100% of available data opens up many opportunities for additional product innovation and enhancements to meet the demands of our policyowners and customers.”
Mark Goodman, managing director of MassMutual Ventures, added, “We are extremely pleased to be able to support this game-changing technology through our investment in Tamr, a company that we believe will continue to have an impact on the way our industry looks at and manages data.”
In its March 25 announcement of the 2014 Turing award, the ACM said that Michael Stonebraker “invented many of the concepts that are used in almost all modern database systems ... Source code from Stonebraker’s systems can be found in many modern database systems. During a career spanning four decades, Stonebraker founded numerous companies successfully commercializing his pioneering database technology work.” The Turing Award is named for Alan M. Turing, the British mathematician who articulated the mathematical foundation and limits of computing.
New investors SineWave Ventures and Work-Bench Ventures also participated in the round.
About Tamr, Inc.
Tamr, Inc., catalogs, connects and publishes the vast reserves of underutilized internal and external data using a combination of machine learning with human guidance so enterprises can use all their data for analytics. Tamr was founded in 2013 by big-data serial entrepreneurs Andy Palmer and Michael Stonebraker, who previously co-founded Vertica Systems (acquired by HP); Ihab Ilyas of the University of Waterloo; George Beskales; Daniel Bruckner; and Alex Pagan. Tamr customers include GE, Novartis, Roche, Thomson Reuters and Toyota Motor Europe.* Learn more about Tamr on their BIZZpage.
Unidesk raises $10M from Ignition Partners
Serial entrepreneur Don Bulens has spent the last 30 years of his career finding ways to simplify life for IT professionals. And it's no different with his latest venture, a company with a product created to simplify Windows management.
Podium Data Announces Funding
PODIUM DATA ANNOUNCES INITIAL FUNDING
Funds to Fuel Growth of Big Data Platform that is Redefining
Enterprise Data Management
LOWELL, Mass. – June 3, 2015 – Podium Data, provider of a practical, big data platform that accelerates access to critical business data, announced today that it has secured initial financing, led by CommonAngels Ventures. The initial round of financing will fuel company growth and advance early marketplace adoption of the Podium enterprise data management platform, released in August 2014.
Podium Data gained early traction among target customers by addressing a persistent and growing challenge faced by today’s enterprises: fundamental business data is not readily available for decision making. Business leaders are increasing the pressure on IT, requesting self-service access to more data sources, as well as faster consolidation and integration of critical information.
The Podium platform extends the power of big data technologies, delivering the first data lake platform with business ready data. Business users get access to the data they need in a secure, self-service environment with insights continuously captured. With Podium, businesses dramatically reduce their time to answer, enabling informed decision making, agile innovation, improved customer experience and, ultimately, competitive advantage.
Growing demand for a cost-effective data management solution that captures value from vast stores of information is evidenced by the number of customers in the financial services, insurance, healthcare and retail sectors committing to multi-year Podium subscriptions.
“With Podium, we finally have access to essential data we can trust. Podium provides self-service access to all of our data, and has enabled our team of analysts and data scientists to dramatically accelerate analysis and business insights. Podium was installed with data ready for use in 90 days, and began to immediately deliver ROI to our business.”
-Top 20 Pharmaceutical customer
Much of Podium Data’s early success is attributed to its strong leadership team, which is led by visionary founders Paul Barth (CEO) and Steve Richards (COO), and comprised of recognized thought leaders and hands-on experts in big data technologies, data management and business intelligence. With decades of IT experience, the other founding team members —technologists Atif Majid, Michael Howard and Bob Vecchione—inherently understand and can innovatively address the most pressing issues faced by today’s business and IT leaders.
Podium Data will leverage the CommonAngels-led funding to build on its accomplishments of the past year, expand the company’s reach in target markets, and continue to deliver on its mission to help commercial enterprises and government organizations optimize the value of critical data assets.
“Podium Data significantly and cost-effectively advances the ability to make complex business data immediately useful to organizations. CEO Paul Barth is a well-regarded thought leader in big data and a successful serial entrepreneur. CommonAngels Ventures is thrilled to partner with him and the other co-founders in this new enterprise.”
--James Geshwiler, Managing Director, CommonAngels Ventures
About Podium Data
Podium Data is redefining the enterprise data management landscape. The company’s practical high-performance Podium platform continuously captures and integrates data from disparate sources. IT elevates its value contribution by unleashing data to business users who can now access and leverage information on demand. Podium’s proven big data technologies help organizations in all industry sectors optimize the value of their information assets by making trusted business data readily available to stakeholders across the enterprise. Visit http://www.podiumdata.com to learn about how Podium accelerates access to fundamental data, driving the analytics and insights required for dramatic impact.
Databox raised $3.7M in funding
Per SEC filing, Databox raised $3.7M in funding. READ MORE
Teradyne to Acquire Universal Robots
Teradyne has signed an agreement to purchase Universal Robots (UR), the world’s leading maker of collaborative robots (cobots), based in Odense, Denmark. Cobots are low-cost, easy-to-deploy, simple-to-program robots that work side by side with production workers to improve quality and increase manufacturing efficiency. They automate tasks including machine tending, packaging, gluing, painting, polishing and assembling parts and are deployed in the automotive, food and agriculture, furniture and equipment, metal and machining, plastics and polymers, and pharma and chemicals industries.
Teradyne will provide revenue synergies, financial strength and global reach that will help accelerate Universal Robots growth. The acquisition provides Teradyne early access in an emerging market on the cusp of rapid growth. READ MORE
Rapid7 Acquires NT OBJECTives (NTO)
Rapid7, a leading provider of security data and analytics software and services, announced today that it has acquired NT OBJECTives (NTO), the web and mobile application security testing company, expanding Rapid7's Threat Exposure Management offering to further meet the needs of modern business infrastructures. NTO's application security testing solution - trusted by many Fortune 500 companies - analyzes web applications for security vulnerabilities and maximizes organizations' ability to effectively reduce IT security risk. Rapid7 is offering this technology under the name Rapid7 AppSpider, available immediately to customers.
The addition of the AppSpider suite to Rapid7's Threat Exposure Management solutions provides information security teams with the ability to assess risk in assets and applications in their environments. This is combined with analytics to identify the most impactful actions that can reduce IT security risk. This approach enables users to make decisions based on business context and threat validation through automated attack simulation. READ MORE
PTC to Acquire ColdLight
LiveWorx 2015. It’s On! – PTC (Nasdaq: PTC) today announced it has signed a definitive agreement to acquire ColdLight, a visionary in big data machine learning and predictive analytics, for approximately $105 million. The acquisition of ColdLight’s Neuron automated predictive analytics platform will enrich PTC’s technology portfolio and extend PTC’s position as a leader in the Internet of Things (IoT) market.
ColdLight will serve as PTC’s core data analytics platform to deliver new value to markets both companies serve today – manufacturing, healthcare, media and retail – as well drive growth across new markets. When combined with PTC’s ThingWorx® IoT platform, ColdLight’s Neuron will automate the analysis of data from things to address a range of important challenges. These challenges include detecting failure patterns from data, modeling correlations, predicting failures, prescribing remedies and prioritizing recommendations against cost constraints. ColdLight’s Neuron platform addresses these challenges by using artificial intelligence and machine learning technology to automatically and continuously learn from data, discover patterns, build validated predictive models and send information to virtually any type of application or technology. READ MORE
Cintell Raises $800K in Seed Funding
Saas Startup Expands Team, Opens New Office In Downtown Boston, Launches Private Beta, And Announces Hiring Plans
Cintell, a customer intelligence platform used by companies to better understand their buyers, today announced that it has closed $800,000 in a Seed round of financing. The round was led by angel investor and entrepreneur Venkat Janapareddy, whose startup Gozaik was acquired by Monster Worldwide. The financing will be used to fuel product development, hiring, and user acquisition as the company continues to execute on an aggressive roadmap of planned features and functionality.
The announcement comes shortly after the company formally revealed its plans to bring buyer personas and customer intelligence to the cloud in early 2015. In that time, the team has expended to seven cross-functional individuals including a team of engineering resources and CTO, Data Scientist Shyam Vaidhyanathan to oversee technology operations. The company has also added marketing consultant Samantha Stone as an advisor to help Cintell clients formulate successful buyer intelligence strategies.
Cintell has also opened a downtown Boston office location, and earned local traction as finalists for Boston’s Best Startup award from Tech in Motion and the Babson B.E.T.A. (Babson Entrepreneurial Thought and Action®) Challenge. It also today announced open positions in customer success and engineering in Boston. More detail on career opportunities can be found at www.cintell.net/jobs
“The ability to continually understand buyers in ever-changing markets is such an important pressure facing B2B organizations today,” said Richard April, SVP of Marketing at Repsly. “This funding puts Cintell in a great position to disrupt the marketing technology space by giving marketers the tools to address this issue.”
The Cintell customer intelligence platform is currently being tested by customers in a private, invite-only beta. To request an invitation as either an end-user company or marketing agency, please visit http://cintell.net/beta-request
Swirl Closes $18 Million Investment
Swirl Networks, Inc., provider of the leading proximity-based indoor mobile marketing platform, announced today that it has raised $18 million in equity financing from Hearst Ventures, SoftBank Capital, Twitter Ventures and other strategic investors. Venture capital firm Longworth Venture Partners also participated in the round. The Series C round brings Swirl’s total funding to date to $32 million. The new capital will be used to expand Swirl’s sales and marketing operations and to fuel aggressive investment in product innovation to meet accelerating demand from major retailers and brand advertisers for beacon-powered indoor mobile advertising. Leading companies including Lord & Taylor, Hudson’s Bay, Urban Outfitters, Marriott, Alex and Ani, and Timberland use the Swirl platform.
According to BI Intelligence, beacons will be deployed by 85 percent of the top 100 U.S. retailers by the end of 2016 and beacon marketing will influence $44B in retail sales. By leveraging Bluetooth Low Energy and Apple’s iBeacon™ technologies, the Swirl platform helps retailers and brands deliver highly relevant digital content and offers to consumers’ smartphones while they shop in specific areas of a store. A recent consumer study by Swirl found that 73 percent of shoppers who received beacon-triggered content were more likely to make a purchase during their store visit. Swirl in-store mobile marketing campaigns are already generating strong results, with 60 percent of shoppers opening and engaging with beacon-triggered content and 30 percent redeeming relevant offers at the point of purchase. READ MORE
Deep Secures $8 Million in Series A Round
Deep Information Sciences, the company that reinvented database science for the Big Data age, today announced it has closed $8 million in Series A funding. The round, led by notable investment firms Sigma Prime Ventures and Stage 1 Ventures, and including AlphaPrime Ventures, brings the total invested in Deep to $18 million. The monies will be used to build out Deep’s sales, marketing and development capabilities as the company goes to market with Deep Engine, the first adaptive plug-and-play solution that transforms any database into a Big Data solution.
“Deep was founded to address the well-known problem that, no matter how you try to optimize them, existing databases don’t have anywhere near the performance, scale and agility needed for the emerging Big Data world,” said Les Yetton, CEO, Deep Information Sciences. “We’re extremely pleased that Sigma Prime, Stage 1 and AlphaPrime, all premier technology investors, believe in the unique approach Deep is taking to resolve this problem and our ability to execute on our vision.” READ MORE
Courion Announces Strategic Equity Investment
Courion®, the market leading provider of intelligent identity governance and administration (IGA) solutions, today announced continued market momentum with a strategic equity investment from K1 Investment Management and key customer wins in the first quarter of 2015.
In the first quarter of 2015, total bookings grew 21 percent year-over-year. Key first quarter wins include organizations from a variety of industries such as financial services, manufacturing, education and healthcare. Security-conscious organizations increasingly select Courion over competing offerings because they recognize the value of an IGA solution enhanced with identity analytics and intelligence (IAI). Courion intelligent IGA solutions leverage the application of risk analytics to big data to dramatically improve how IT staff create, manage and terminate access rights for resources and how they identify and eliminate access risk. This enables Courion customers to improve service agility and maintain compliance on a continuous basis, streamlining audits and reducing IT costs. READ MORE
Bedrock Data Raises $3.1M Series A
As reported by BostInno Bedrock Data, an integration and data management platform founded by HubSpot Vets, has raised $3.1 million in Series A Funding. READ MORE
Utilidata Raises Funding
UtiliData, Inc., a leading supplier of voltage optimization products for the electric grid, has completed a round of financing led by Braemar Energy Ventures. The financing will accelerate the advancement and expansion of the company’s AdaptiVolt™ Volt/VAR Optimization product, which allows utilities and large industrial companies to realize significant energy efficiency gains as well as improved reliability. The funding comes in the wake of the successful AdaptiVolt™ system performances in major utilities across North America, where it has demonstrated operational excellence, along with robust, measurable results...READ MORE