Boston, MA

LogMeIn Acquires Meldium

LogMeIn, Inc. (Nasdaq:LOGM) today announced the acquisition of San Francisco-based Meldium (incorporated as BBA, Inc.), a provider of intuitive single-sign-on (SSO), password management, and identity and access management (IAM) solutions. The acquisition immediately expands LogMeIn's popular IT portfolio with an elegant SSO offering, while introducing a natural extension of the identity, cloud app, and device management capabilities in its other IT management products. As a result, the deal is expected to build upon and accelerate LogMeIn's strategic initiative of empowering IT professionals to embrace, manage, and secure today's cloud-centric, consumerized, workplace. 

Meldium, a venture-backed startup and Y Combinator alum, is focused on helping companies manage access to the rapidly growing number of cloud apps used in the workplace, specifically addressing the security risks that often arise from employees' poor password practices. The company offers a simple, secure way for teams and entire companies to manage passwords and accounts for popular business and personal cloud applications – apps that are most often introduced by individual employees or line-of-business workers. The company's namesake SSO product offers seamless access to nearly 1500 of today's most popular apps, including the likes of Dropbox, Google Apps, Hubspot, WordPress, Zendesk, Salesforce, Asana, Trello, Evernote, JIRA, and Rackspace. READ MORE


Savant Systems®, LLC Received $90 Million Investment

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

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

Black Duck Software Raises $20 Million

 

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

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

ZYNC Render Acquired By Google

Today we are announcing that Zync Render, the visual effects cloud rendering technology behind Star Trek Into Darkness and Looper, is joining the Google Cloud Platform team. 

Creating amazing special effects requires a skilled team of visual artists and designers, backed by a highly powerful infrastructure to render scenes. Many studios, however, don’t have the resources or desire to create an in-house rendering farm, or they need to burst past their existing capacity. READ MORE


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

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

Continuum Acquires R1Soft

Continuum®, the industry's only channel-exclusive provider of fully integrated managed IT services solutions, has received overwhelming support from R1Soft® customers for its recent acquisition of R1Soft Server Backup Manager (SBM) from Idera. More than 2,500 cloud infrastructure providers currently use R1Soft SBM to protect more than 300,000 servers worldwide, making it one of the leading commercial backup software for web hosting providers.

“We have been an R1Soft partner for years,” said Corey Arbogast, Owner of R1Soft Licenses, an x10Hosting Website. “We not only rely 100 percent on their backup solution but also manage for hundreds of other small businesses and hosting companies. With the resources and experience at Continuum coupled with the already talented R1Soft development team, we are excited to see the evolution of R1Soft already underway. We are especially enthusiastic to welcome Continuum and look forward to their vision for the future of R1Soft.”  READ MORE

Tablelist Secures Additional $500K

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

DraftKings Closes $41M Round & Acquires StarStreet

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

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

LTG Exam Prep Platform raises $3M in Funding

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

Fancred Secures $3 Million Funding Round

 

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

 

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

EnerNOC Announces Investment in WeSpire

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

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

Wayfair Files S-1 with the SEC for an IPO

As per the company's SEC filings, Wayfair in Boston, MA has filed an S-1 for a public offering which could raise $350M.  Investors in the company include Battery Ventures, Great Hill Partners, Spark Capital, HarvourVest Partners, and T. Rowe Price Associates.  Wayfair is an eCommerce company focused on the home furnishings market... READ MORE

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

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

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

Happier Adds $2 Million

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

Adecco Group Acquires OnForce and Merges it with Beeline

Beeline, a global leader in software solutions for managing the extended workforce, today announced that its parent company, Adecco Group, has acquired OnForce and is merging the company under Beeline's portfolio of workforce solutions, which include a vendor management system (VMS), Ellegro learning solutions (ELS) and now OnForce freelancer management system (FMS). Beeline and OnForce will deliver the first integrated solution that offers customers multiple channels for sourcing talent. Combining Beeline VMS with OnForce FMS gives customers unprecedented access to both their trusted supply chain and their network of highly skilled, carefully vetted and correctly classified independent contractors (freelancers) through one cloud-based solution.

 

Research firm Aberdeen Group estimates that almost 26 percent of the average organization's total workforce is contingent, which can include temps, consultants, independent contractors/freelancers, outsourced project resources, retirees, alumni and other nontraditional workers. Accessing and managing this "extended workforce" is often a fragmented process involving a mixture of technologies such as VMS, FMS, spreadsheets and other ad hoc tools. The new integrated offering will combine Beeline's powerful process automation and analytics for sourcing and managing talent through suppliers, with OnForce's ability to directly access and manage today's burgeoning population of freelance talent. This will provide customers with a valuable new option for simplifying operations and optimizing the management of their extended workforces. For Beeline's channel partners, it will also enable them to either add an independent contractor offering to their current services, or to manage their existing independent contractor business more effectively. READ MORE

Nasuni Raises $10 Million in New Venture Capital Financing

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

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

Bullhorn Acquires The Code Works

Today, Bullhorn acquired The Code Works Inc., the makers of VMS Access – a cloud-based software product that integrates corporate procurement and vendor management systems (VMS) like SAP’s Fieldglass with CRM systems like Bullhorn. Our staffing customers were asking us for an integration between Bullhorn and popular VMS solutions used by their biggest end-user clients so that they could spend less time on data entry and more time interacting directly with their customers, and we listened to them. 

There are number of reasons that this is a fantastic acquisition for Bullhorn and our customers. First, The Code Works Inc. has developed incredible technology. The way in which The Code Works Inc. integrates...  READ MORE

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

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

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

Progress Ventures Invests in Crave Labs

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

RedPoint Global Closes $5.2M in Funding

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

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


Directr is Joining Google

Our small band of scrappy film lovers set out 2 years ago to help regular folks make great video. Today, we are incredibly excited to take the next step on that journey and announce that we are joining the video ads team at YouTube.

For now, everything you love about Directr is staying the same and we’ll continue to focus on helping businesses create great video quickly and easily. One immediate bonus: Directr will soon be all free, all the time. Thanks, YouTube! READ MORE

ViralGains Raises $2.8M of a Planned $3.3M Round of Funding

ViralGains, a company with a mission to create authentic relationships between consumers and advertisers through online video, today announced that the company has raised $2.8 million of a $3.3 million round of funding. The company is using the funds to move into new markets, including Southern California, New York City and Chicago, and to grow the demand and supply sides of its business.  

The round was led by Hub Angels, with participation from 45 investors, including 500 Startups’ Dave McClure, Chicago-based Pallasite Ventures, Boston’s Launch Capital and local Boston-based angels Ty Danco, Joe Caruso, Jay Batson and Semyon Dukach. In addition, rapper Nasir “Nas” Jones is part of the investment group... READ MORE

Ericsson Acquires MetraTech

Today, we announced that Ericsson plans to acquire MetraTech to accelerate its leadership in cloud and enterprise billing and settlement. In a world being made more complicated by a proliferation of online services, the Internet of Things (IoT) and a maze of evolving business relationships, service providers and enterprises alike cannot be constrained by the limitations of their software platforms. The transformation of products into services is continuing at a pace unlike anything we have seen before and the cloud and everything-as-a-service (XaaS) economy is upon us. With this environment as a backdrop, service providers need a platform that enables them to monetize increasingly complex services and partner relationships. Market share will be won based on business model innovation, not simple price changes.

Agile billing is required for businesses that are serious about creating new revenue streams, meeting customers’ needs and doing it fast and well. At MetraTech, we’ve had an agile billing platform from day one with our metadata-driven approach. It is what makes our solution flexible and responsive, as well as business-model- and industry-agnostic. We’ve helped our customers accelerate commerce by enabling them to innovate how they create, structure and manage financial relationships with their customers, partners and suppliers. Our products are used by some of the most recognizable companies around the globe in communications and media, conferencing and collaboration, transportation, travel and hospitality, financial services, cloud and software industries. What these customers all have in common is their ability to create and deliver differentiated service offerings, securely collect revenue and compensate partners the way they need to without compromise. Ericsson took note of MetraTech’s unique ability to provide this flexibility through multiple delivery models (SaaS, on-premise or managed service) to support customers’ deployment needs. READ MORE

ChoiceStream Raises $7.5 Million

 

ChoiceStream, a full-service programmatic media-buying company today announced that it has raised $7.5 million in Series B funding, led by New York-based Fred Alger Management. This round marks ChoiceStream’s first new-investor-led financing since the company’s 2011 transformation into a pure-play demand-side advertising platform.

“This funding will be used to expand ChoiceStream’s programmatic platform by further investing in our survey-based targeting, dynamic creative, and audience insights capabilities,” says Eric Bosco, CEO of ChoiceStream. READ MORE

Intigua Secures $10 Million in Series B Funding

Intigua™, the first company to enable software-defined operations using advanced container technology, today announced it has closed a $10 million Series B round led by new investor Intel Capital. Existing investors Bessemer Venture Partners and Cedar Fund also participated in the round, which brings the total invested capital to $21 million. Intigua will use the new money to fund global sales, marketing and development of the Intigua Virtual Management platform, and accelerate its ability to execute on its software-defined operations vision.

This round follows a series of achievements for Intigua, including the coveted “Best of VMworld” award and a record 1H 2014 highlighted by the addition of several strategic customers, including a Fortune 500 technology company, one of the ten largest global banks, and the world’s largest IT systems integrator.  Enterprises like these are turning to Intigua to accelerate workload delivery, improve application uptime and performance, and boost operational efficiencies across increasingly complex environments. By enabling software-defined operations, a concept Intigua coined to denote the ability to deliver systems management as a service at cloud scale, the company is ushering in a new era of IT operations. READ MORE

Karmaloop Receives $13M

Karmaloop, a Boston, MA-based multi-platform online retailer that specializes in streetwear fashion, received a $13m senior facility from CapX Partners.

The company intends to use the funds to enhance operating initiatives and maintain its market position. READ MORE

Ellevation Education Adds $2M

 

Ellevation Education, a Boston-based provider of online planning, reporting and communication tools for English Language Learners (ELL), has raised $2 million from a motley of parties, including existing investors Chris Gabrieli, NewSchools Venture Fund, Adam Miller, Rick Burnes, Josh Tolkoff, Eileen Rudden, and Lynda Bodman. New participants include Berylson Capital, Steve Kupfer, Alan and Judy Wurtzel, Alex Saltonstall, and Josh Kirkpatrick.

 

The startup has now raised $5.1 million, according to co-founder and CEO, Jordan Meranus. READ MORE

Tablelist Raises $1.5M

As reported by BostInno, Tablelist, an app where club goers can book tables for bottle service at their favorite venues safely and securely through their mobile devices, has raised $1.5M. READ MORE

NextView Ventures Raises $40M Second Fund

Per Rob Go's blog post:  On behalf of our team at NextView, I’m very pleased to announce that we have just closed our second fund. NextView Ventures II is $40M, twice the size of our first fund, and we continue to be exclusively focused on seed-stage companies pursuing internet-enabled innovation.

As former operators and product-oriented entrepreneurs, Dave, Lee, and I tend to think of our firm as a startup company and our approach to investing as our product. We’ve often explained to entrepreneurs that the second fund of a venture firm is very much like the series A for an early stage company. It shows that things are working and there is product/market fit, but there is a long way to go towards building an enduring company of great consequence.  READ MORE

ObserveIT Raises $20M in Funding

The word is out and we couldn’t be more excited!  Yesterday we announced the good news that we raised $20M from Bain Capital Ventures. This investment will bring ObserveIT to incredible heights, as it will get the solution in front of more enterprises and large organizations, who all need our user activity monitoring solution.  READ MORE