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
Advanced Practice Strategies, Inc. Completes $12M Series C Financing
Advanced Practice Strategies, Inc. (APS), provider of an e-learning and talent management platform for clinicians, announced today the completion of a $12M Preferred Series C capital raise led by River Cities Capital Funds, a growth equity firm investing in healthcare and IT companies. Incumbent investor Ascension Ventures also participated.
“APS helps health systems deliver superior outcomes by personalizing the education that each caregiver receives,” says Rik Vandevenne, Director at River Cities Capital Funds, who joins the APS Board of Directors. “The stellar management team, unique provider-specific data and blue chip customer list combined with rapid growth attracted us to the company. We’re honored to partner with APS.” READ MORE
Raytheon and Vista Equity Partners to Form New Cybersecurity Company
Raytheon Company (NYSE: RTN) has entered into a definitive agreement with Vista Equity Partners to form a new company combining Websense, a Vista portfolio company, with Raytheon Cyber Products, a business unit of Raytheon's Intelligence, Information and Services (IIS) segment. The new company will leverage Raytheon's advanced cybersecurity technologies and Websense's industry leading TRITON® platform to provide a new level of defense-grade cybersecurity to combat the evolving cyber threat environment.
"The market for advanced cyber solutions that protect and defend global industry and infrastructure is rapidly growing due to the sophisticated threats posed by well-funded, nation-state adversaries and criminal networks. As the business enterprise evolves to meet the networked demands of today's mobile and cloud economy, these threats will grow in size and scale," said Thomas A. Kennedy, Raytheon Company Chairman and CEO. "The new joint venture will combine Raytheon Cyber Products and Websense capabilities to deliver the advanced, defense-grade technology solutions needed to meet this evolving threat." READ MORE
Interactions Raises $10M
As reported by Sara Castellanos and the BBJ, Interactions, a Franklin-based virtual assistant technology company that works to improve conversations between humans and automated customer service software, has landed $9.5 million in new funding. READ MORE from BBJ.
haystagg Announces More Than $600k in Investment
haystagg today announced the addition of several prominent investors - Mark Cuban, Barbara Corcoran Venture Partners and Kima Ventures, combining for a total investment of over $600,000. The company, a pioneer in situational targeting, welcomes these investors for their added business value and ongoing support in extending haystagg’s advertiser base.
haystagg is used by agencies and advertisers to significantly expand reach as well as performance in digital advertising campaigns, beyond the capabilities of other solutions in the market. Since cookies and digital fingerprints are poor representatives for consumers, haystagg replaces these outdated identifiers with an effective real-time approach to assess and capitalize on the value of each single ad impression for each advertiser. Early traction and a strong roster of clients are proof points that haystagg’s real-time situational targeting approach to digital advertising works, and it’s these compelling factors that attracted all three investors to the investment.
President, Michael Ouellette said “haystagg has fantastic resonance in the market – we beat our 2014 revenue targets and are on track to do the same in 2015. Our investors help us to create more products that advertisers will love. We highly appreciate that their networks open additional doors in the advertiser and investment community.”
Mark Cuban is an American entrepreneur and investor. Cuban counts the Dallas Mavericks, AXS tv, Landmark Theatres, and Magnolia Pictures among his current holdings. He founded and sold MicroSolutions in 1990, for $6M, and Broadcast. com in 1999 for $5.6B. One of the “Sharks”, on ABC’s SHARK TANK, Cuban is a prolific investor, investing in a diverse portfolio of businesses.
Barbara Corcoran Venture Partners
Barbara Corcoran is the founder of Barbara Corcoran Venture Partners. A “Shark” on ABC’s hit TV show, SHARK TANK, Barbara has personally invested in 22 businesses. Her newest book, SHARK TALES, gives readers a chance to look behind-the- scenes, into her life, her business and her very public venture capitalism.
The Kima Ventures fund was started in 2010 by entrepreneurs for entrepreneurs. Their goal is to support and finance innovative companies across the globe with seed capital. Kima Ventures partners with the best business angels, venture capitalists and funds, and invests primarily in projects that meet a simple need and have a simple business model.
haystagg is the pioneer in situational targeting. This technology reveals untapped audiences inside and outside of known cookie-pools, dramatically extending the reach of ad campaigns across channels. haystagg’s precision targeting technology ensures every ad view meets the ideal combination of audience, content, time, geography & device. For more information visit www.haystagg.com.
Rethink Robotics Raises Another $13.4M to Close out $40M Series D Financing
Rethink Robotics announced that the company’s Series D financing is now closed with the addition of Wellington Management Company LLP joining GE Ventures and Goldman Sachs as significant new investors in the round. As previously announced, existing investors Bezos Expeditions, CRV, Highland Capital Partners, Sigma Partners, Draper Fisher Jurvetson and Two Sigma Ventures also participated in the $40 million Series D round. The company announced the first tranche of $26.6M in January and a combination of Wellington Management Company and existing investors contributed the remaining $13.4M in March. Total investment in the company is now $113.5 million.
The funds will fuel Rethink Robotics’ rapid growth and global expansion, and drive product innovations that will continue to raise the bar for collaborative robots in manufacturing. Sawyer, the company’s new high-performance, single-arm robot, was introduced last month, to substantial market demand for its ability to perform a variety of precise tasks including machine tending and circuit board testing. All of Rethink’s collaborative robots are designed to easily and cost-effectively perform many of the 90% of tasks in factories that are not yet automated. READ MORE
Recorded Future Announces $12M Funding
It’s a really exciting time at Recorded Future. Our real-time, interactive, threat intelligence analytics platform is being adopted by leading organizations. We now help protect four of the top five companies in the world.
In 2014, our bookings grew by over 100%. Our new enterprise customers include the top financial institutions, technology companies, cyber security companies, MSSPs, and government agencies. In addition, thousands of information security professionals subscribe to Recorded Future’s free daily threat alerts. (Go here to subscribe.)
We’ve built a massive platform that indexes billions of events, powered by our patented Web Intelligence Engine which continuously analyzes the open Web to give you unmatched insight into emerging threats. You can read about big data until you’re blue in the face, but we live and breathe it every day, ingesting truly massive amounts of unstructured data from across the Web and turn it into actionable intelligence available through interactive visualizations, real-time alerts, and APIs. READ MORE
meQuilibrium Raises $9 Million Series B Financing
meQuilibrium, an online platform that beats stress, builds resilience and promotes healthy behavior, announced that it raised a $9 million Series B financing round led by Safeguard Scientifics (NYSE:SFE) with participation by Chrysalis Ventures and other investors. meQuilibrium will use proceeds from the funding to accelerate sales and marketing, and expand product development.
meQuilibrium is the only company that offers an individualized, online stress management program based on building resilience—defined as ¬the capacity to rebound or bounce back from adversity, conflict, failure and also positive events, progress and increased responsibility. The science-based, clinically validated solution is based on decades of research at the University of Pennsylvania, which reveals that stress and resilience are linked. Furthermore, researchers found that coaching can improve resilience, providing a lifetime of benefit including reducing the effects of stress. 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
Arcadia Health Raises $13M
As reported by Xconomy, Arcadia Health announced it raised $13 million.
The data provider and healthcare consultant has gotten a $13 million investment from healthcare private equity firm Peloton Equity, existing investors, and Zaffre Investments, which is a wholly owned subsidiary of Blue Cross Blue Shield of Massachusetts. Arcadia, which was founded in 2002, plans to use the funding to further develop its data-gathering and analytics program, boost sales and marketing, and make new hires, especially at the executive level. READ MORE
Hello Alfred Raises $10.5 Million
Hello Alfred, the company building the next generation of the on-demand economy, announced the close of a $10.5 million Series A financing led by NEA and Spark Capital, with additional participation by Sherpa Ventures and CrunchFund. The new funds allow Hello Alfred to invest in its automation platform and continue the rapid growth of the company’s user base to new cities.
Alfred combines all the subscriptions and services you use to power your home in one place. “Our mission is to automate the on-demand economy,” explained Marcela Sapone, co-founder and CEO of Hello Alfred. “In the last year, we’ve proven that we can delight our customers by anticipating their needs and doing their to-do’s as well, if not better than they would themselves. With this funding we’re ready to step on the gas and scale the Alfred experience to a wider base of customers.”
“We are thrilled to partner with the Hello Alfred team,” said Scott Sandell, Managing General Partner at NEA who led the firm’s investment. “So many people in the professional ranks are leading lives that are incredibly unmanageable. Hello Alfred gives them back control over their home life and frees up their time to live. ”
Hello Alfred currently operates in New York and Boston. Every day, the company’s employees help its customers save hundreds of hours of time by anticipating their needs. In the last 5 months, Hello Alfred gave back nearly nearly 40,000 hours — almost 4.5 years worth of time that would have otherwise been wasted on basic tasks — to busy families, entrepreneurs, and young professionals by making over 18,000 runs that included dry cleaning 57,600 shirts, delivering 3,326 pounds of dog food and placing 1280 flower arrangements in homes.
“My Alfred visits on Tuesday and it’s become my favorite day of the week,” said Megan R., a busy entrepreneur and Hello Alfred customer living in New York City. “Coming home to a perfectly stocked fridge, your dry cleaning not only picked up but put away, and the pair of shoes that didn't fit returned is real magic. Hello Alfred gives me back the thing I need the most: time.”
Hello Alfred continues to expand its customer base in New York and Boston. The company plans to roll out service in San Francisco in the June 2015. San Francisco residents interested in the service can sign up for the waitlist by visiting: www.helloalfred.com
About Hello Alfred
Founded by Marcela Sapone and Jessica Beck, Hello Alfred aggregates household services to provide white-glove oversight that radically changes how the modern consumer gets things done. Alfred is a recurring, in-home service that takes care of tasks its users don’t have the time to do — whether it’s laundry and dry-cleaning, grocery shopping, or coordinating deliveries — and even learns users’ routines to anticipate what they need done. Whether you're an entrepreneur busy launching a business, a parent juggling work while growing a family, or a young professional putting in long hours at the office — Hello Alfred will give you back your most valuable resource: time. It launched this September at TechCrunch Disrupt also winning the Disrupt Cup, Hello Alfred rose to the top over thousands of other startups that applied to claim the grand prize and is also the winner of the 2014 Harvard Business School Venture Competition. Hello Alfred has offices in Boston and New York City.
Localytics Acquires Splitforce
Localytics, the complete marketing and analytics platform for mobile and web apps, today announced the acquisition of Splitforce, an automated optimization tool purpose-built for mobile apps. With the acquisition, Splitforce co-founders Zac Aghion and David Ruiz join the Localytics team, bringing additional data science expertise to fuel the company’s predictive app marketing capabilities. Predictive app marketing helps app marketers and product managers leverage user data to predict and personalize engagement with app users at every stage of the customer journey.
“Apps have dramatically increased consumers’ expectations for experiences catered to their individual needs, while giving businesses a new dataset to tap into for better decisioning,” said Raj Aggarwal, CEO of Localytics. “We’re focused on helping businesses turn that data into personalized engagement, and Splitforce has the best team and technology in place to deliver on the cutting-edge of that mission: predictive app marketing.” 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
Yeloha Raises $3.5m in Series A Funding
Yeloha, Inc., a Boston, MA-based solar sharing network, raised $3.5m in Series A funding.
The round was led by Carmel Ventures. In conjunction with the funding, Ronen Nir, a general partner at Carmel, joined Yeloha’s board of directors.
The company intends to use the funds to expand across the U.S. READ MORE
clypd Raises $19.4 Million Series B Round
clypd, the television industry's leading sell-side technology provider, today announced that it has secured $19.4 million in a Series B round of financing led by global media company RTL Group, with additional participation from Atlas Venture, Data Point Capital, Duke University, TiVo Inc., Transmedia Capital and Western Technology Investment. With approximately $30 million in financing to date, clypd's latest round of funding will accelerate growth of the company's industry-leading platform to help TV media owners in the adoption of programmatic TV.
The Series B funding will be used to expand resources across all departments at clypd, including product development, data science, business development, engineering and marketing. This will help create new technologies to support enterprise-wide sales solutions for television media owners. The capital will also be used to expand the business into new markets, including Europe and APAC.
"clypd is one of the first companies to create a strong platform for programmatic sales for linear TV in the U.S. It offers a unique set of tools to the market at a crucial time, when programmatic video sales are growing rapidly," said Rhys Noelke, Vice President Business Development at RTL Group. "clypd adds key TV sales competencies that will offer groundbreaking solutions for TV advertisers. We see great potential in the company -- in both the U.S. and Europe." READ MORE
Teikametrics Acquires Lab Escape
Teikametrics, the leading provider of pricing and inventory optimization for Amazon third-party retailers, has acquired Lab Escape, the leader in heat map visual data discovery software. Teikametrics will add Lab Escape’s embeddable visual data discovery solutions to its suite of analytics tools for e-commerce retailers.
“The acquisition of Lab Escape’s visual data discovery platform is firmly aligned with our mission to use big data to solve valuable problems,” said Alasdair McLean-Foreman, CEO of Teikametrics. “In addition, the acquisition of Lab Escape diversifies Teikametrics’ customer portfolio by adding world class retailers including Walmart, Costco, and other Fortune 500 companies. Other notable clients include Dell, U.S. Army, and Schlumberger. Adding Lab Escape to our team gives us the opportunity to broaden our reach and develop long term growth outside of the Amazon marketplace.” READ MORE
Pixability Completes $18 Million Series C Financing
As global brands increasingly turn to online video marketing as a key revenue generator, Pixability, a video ad buying and marketing technology company, today announced it has closed a $18 million Series C financing round led by Jump Capital and Edison Partners, bringing total funding to $28 million. All existing investors, including Point Judith Capital and Quad Graphics, also participated in the round. Pixability has achieved a cumulative sales compound annual growth rate of 240% over the past five years. The cost efficiencies of digital advertising are leading global brand marketers to aggressively shift media allocations, particularly to online video. Worldwide digital ad spend is projected to reach $253 billion by 2018 (up from $145 billion in 2014); with U.S. digital video ad spend projected to rise by 30.4% this year alone, reaching $7.77 billion.
“The Pixability platform has allowed us to reach our core customers and target new passionate soccer fans with data-driven video campaigns that increase awareness of our new brand positioning and bring engagement to an unprecedented level,” said Hermann Hassenstein, Global Head of Communications Planning at PUMA. “With the targeting that Pixability delivers, we are able to achieve better results through online video in a more efficient way.”
The capital will be used to READ MORE
MassChallenge Acquires Start Tank Boston
Two years ago, we created Start Tank as our way to give back and accelerate innovation in the Boston ecosystem. From its beginnings as a couple of extra desks quietly tucked behind reception, Start Tank Boston quickly grew to host a total of nearly 200 people from 49 startups that raised over $40M in venture and seed capital during the past two years. Building on this momentum, Start Tank later expanded to two other continents, with Boston maintaining the largest presence and footprint in the community.
For the next stage of growth, Start Tank Boston will be spun out and combine forces with MassChallenge. The MassChallenge mission to “catalyze a startup renaissance” by “helping early-stage entrepreneurs win” is 100% aligned with everything Start Tank has stood for since inception. Together, we’ll be able to provide Boston-area entrepreneurs with the strongest program and resources.
MassChallenge will acquire key elements of the Start Tank Boston program... READ MORE
FirstFuel Receives $23 Million
FirstFuel Software, the trusted source for customer intelligence for energy providers, today announced that it has closed $23 million in Series C financing in an oversubscribed round to accelerate its recent growth within the transforming regulated and deregulated utility markets.
- Next World Capital led the round joined by new investor Electranova Capital.
- All prior investors, including Battery Ventures, Rockport Capital, Nth Power and E.ON SE also participated in the round.
- Tom Rikert, partner at Next World Capital, will join FirstFuel’s Board of Directors.
- This round brings FirstFuel’s total funding to $45 million since its founding in 2010.
“The energy provider markets are facing a sea change stemming from new technology advances in distributed generation, a dynamic regulatory environment and increased competition. In the face of this complexity, a large determinant of success will be their ability to help customers navigate energy options,” said Swapnil Shah, CEO, FirstFuel. “Recognizing the immense value of deeper customer relationships, providers are asking us to help them understand each and every customer’s energy usage and needs.” READ MORE
* Learn more about FirstFuel on their VentureFizz BIZZpage!
Placester Adds $15M
Per Xconomy, Placester hass added $15M.
One of the Boston area’s fast-growing software startups is making progress in real estate marketing. Placester says today it has raised a $15 million Series B round, which brings its total funding to about $23 million.
The round was led by New Enterprise Associates (a new investor), and previous investor Romulus Capital also participated. Placester CEO and co-founder Matt Barba says the company will grow from 50 to 100 employees in the next year. READ MORE
Pavlok Receives Investment from IncWell Venture Capital
This week IncWell, a Birmingham, Michigan based venture capital firm, signed a check for the maximum investment amount their fund allows, to invest in Pavlok, the wearable that electrically shocks users to break bad habits and increase performance.
Last fall, Pavlok caused quite a shock when it launched a crowd funding campaign that raised over $250,000 (>5X their funding goal) and received mention on every major news outlet including Good Morning America, The Colbert Report, Reuters, and Entertainment Tonight.
Pavlok already has a number of top-tier investors from the health and fitness space, including Dave Asprey, J.J. Virgin, John Romaniello, Ramit Sethi, Michael Fishman, and Steve Kamb, as well as the Boston-based hardware incubator Bolt.
IncWell, which was founded in 2013 by Tom LaSorda former CEO of Chrysler Corp., invests in seed and early-stage companies across all sectors, including: healthcare, manufacturing, and consumer products. Simon Boag, Managing Partner of IncWell said, “Pavlok has everything we’re looking for in a start-up; a great team led by Maneesh, a disruptive technology with the capability for significant, positive impact to society and a market with-out bounds. We’re very excited to be partnered with Pavlok”.
Pavlok, already experiencing rapid growth, decided to take on the investment as a strategic partnership based on the experience and networks of the IncWell team. Maneesh Sethi, the founder of Pavlok, had this to say,
"I couldn't be more thrilled to work with the brilliant team at IncWell. Not only is this going to allow us to amplify our current efforts, but it also gives us the bandwidth to expand into new markets that we've been looking to tap into".
The 'new markets' Sethi is referring to includes the medical space. Although Pavlok's primary focus has been on the consumer market, Sethi and IncWell are excited to explore the use of Pavlok's technology in hospitals and other healthcare facilities around the country.
Pavlok has quietly been collaborating with some Boston hospitals that are using Pavlok to help people quit smoking. The initial results have been impressive. "We've already seen a lot of users quit smoking in as few as 5 days. The fact that we are transforming lives and successfully breaking habits---so fast, and so massively---is incredibly rewarding," said Sethi.
Together, with IncWell's support, Pavlok plans to ramp-up production and experiments on various bad habits and show the world just how powerful a little negative stimulus can be.
IncWell is a private venture capital fund located in Birmingham, MI, founded by Tom LaSorda, the former CEO of Chrysler. IncWell offers seed funding, strategic partnerships and mentorship for U.S. and Canadian startup companies that present breakthrough or disruptive technologies backed by great leaders. The Managing Partner of the fund is Simon Boag. Other Limited Partners include Roger Penske, Chairman and CEO of Penske Corporation, Dieter Zetsche, Chairman of Daimler AG, John Melstrom, Partner at Fenner Melstrom & Dooling PLC, Stephen Polk, former CEO of R.L. Polk & Co. and Wayne Sales, the former CEO of Canadian Tire and SuperValu and Magna International, a global automotive supplier. There are 14 other additional key Limited Partners. Learn more or pitch us online at www.incwell.net.
Pavlok is a wearable device that helps users break bad habits with electric shock. By administering a shock while doing an undesired action, Pavlok utilizes proven psychological techniques and can break bad habits in as few as five days. Pavlok has already helped users quit bad habits such as: smoking, nail-biting, unhealthy eating, procrastinating, hitting the snooze button, and many more.
Pavlok’s stimuli include vibration, beep, and shock, and can be activated by software (Bluetooth + open API) or manually. The stimuli are useful for numerous purposes, including waking up on time, improving memory, and being more productive. See more at http://pavlok.com
About Behavioral Technology Group, Inc
Behavioral Technology Group (BTG) is a Boston-based startup, founded in 2013 by Maneesh Sethi. Initially started at the Bolt hardware incubator, BTG focuses on upgrading human behavior through the marriage of technology and psychology. BTG was voted Boston’s Best Tech Startup 2015 and has been featured in hundreds of media outlets including: TechCrunch, Reuters, Good Morning America, The Colbert Report, and more.
Valore Acquires Boundless
Valore announced today the acquisition of Boundless, a digital publisher and platform that offers millions of students and teachers customizable textbooks, teaching resources, and learning tools. Together, Valore and Boundless are uniquely positioned to eliminate the inefficiencies that exist throughout the textbook ecosystem and to be an agent of change in how college textbooks are created, acquired and consumed.
“Textbooks and course materials are the biggest expense that students face after tuition and room and board, and inefficiencies in the textbook market continue to drive that expense higher and higher,” said Kevin Walker, CEO, Valore. “We are excited about the product, platform and content Boundless has built. And we are looking forward to working with their strong team to continue empowering students and professors with choices for creating and consuming content that will result in higher quality education resources at a lower cost.” READ MORE
Disney to Invest $250 Million in DraftKings
Per The Wall Street Journal, Walt Disney Co. is investing $250 million in online fantasy sports business DraftKings Inc., valuing the company at roughly $900 million, people familiar with the matter say.
The Boston startup lets fans play fantasy sports with real money at stake. They can do so on a per-game basis rather than committing to manage teams for an entire season. READ MORE
ZappRx Raises $5.6 million
Today, ZappRx announced it has received $5.6 million in new funding from GlaxoSmithKline’s new venture arm SR One, and Atlas Venture (the life sciences VC firm, not the tech startup one that split from the firm and is seeking a new name). Additionally, the company revealed a long undisclosed partnership with biopharma company Zafgen, as well as another major partnership that it cannot reveal yet.
While ZappRx hasn’t raised anything approaching the gaudy investment numbers you will often see attached to biotech companies, the company has raised a total of $8.8 million for what is currently a niche space but has the potential to be lucrative in the long term. READ MORE from Dennis Keohane at Pando Daily
Convergent Dental Secures $9 Million in Growth Capital
Convergent Dental Inc., a privately held dental device company, today announced that it had secured $9 million in a funding round led by existing investors Long River Ventures and the Gund Foundation as well as new individual investors and family offices. Solea, the first FDA approved, CO2 9.3 micron dental laser for hard and soft tissue, is gaining significant traction within the dental community due to its ability to deliver virtually anesthesia-free and blood-free procedures.
When a dentist does not have to administer anesthesia or control bleeding, it significantly improves efficiency. Many Solea dentists report performing six or more additional procedures per day which represents revenue gains of 25 – 40 percent. This latest round of funding enables continued investments in product innovation, sales and implementation so Convergent Dental can scale with growing market demand.
“We are pleased to see Solea accomplish so much in just its first year on the market,” said Will Cowen, general partner, Long River Ventures. “Solea delivers a much improved patient experience and at the same time a compelling ROI for the dentist. It’s a clear win-win. We are happy to offer continued support to such a game-changing company.”
Solea sales nearly doubled in Q4 2014 as practitioners around the country adopted this unique CO2 dental laser technology. Solea is establishing itself as the go-to tool for many dentists, replacing the noise, vibration and needle typically associated with dental visits with a quiet, virtually painless patient experience.
“This latest round of funding will fuel Solea’s already impressive growth,” said Convergent Dental CEO Michael Cataldo. “As more dentists implement this unique technology, it is becoming obvious that we are literally changing what it means to go to the dentist. The dental laser’s impact on patients’ experiences and dental practices’ bottom line is all positive and positions Convergent Dental for even greater growth in 2015.” READ MORE
Mobiquity Acquires Morgan Clark & Company
Mobiquity, a mobile engagement provider, today announced it has acquired Amsterdam-based Morgan Clark & Company a company focused on technology-enabled business consulting. This acquisition will allow Mobiquity to deepen its European-based mobile consulting and transformative services offerings.
“Mobile is in our DNA – we are strongly committed to developing innovative solutions that combine rich user experience, business strategy and integrated technology,” said Mobiquity founder and CEO, Bill Seibel. “As mobile continues to drive change and innovation within enterprises we are committed to our multi-disciplined approach and to help drive innovation for our expanding roster of European customers.” READ MORE
Security Innovation Raises $4M
Security Innovation, a cyber security firm specializing in software security, announced today that it has secured an additional $4 million investment to address the needs of their expanding market, led by existing investor Brook Venture Partners (BVP) together with existing investor Gordon M. Burns, Director at Compass Diversified Holdings LLC. The funds will be targeted to further extend Security Innovation’s current portfolio of products and services as the pre-eminent security provider for securing the critical systems on which the world depends.
The Internet of Things (IoT) explosion is powered by software. Since 2002, Security Innovation has specialized in securing software, no matter where it runs – on a mobile phone, in an automobile, on a retail point-of-sale system, or as part of an online enterprise application. With rapidly expanding expertise in crypto and secure communications, Security Innovation is now even better positioned to help organizations ensure that they are not vulnerable at their weakest link – software. READ MORE
Nanigans Raises $24M Series B
Nanigans, Inc., the leading worldwide provider of social and mobile advertising software and pioneer in advertising automation software, announced today that it has closed a $24 million Series B financing. The financing is led by Cheetah Mobile (NYSE:CMCM), the world’s leading mobile utility application developer. Also participating in this financing is current investor Avalon Ventures and new investor Wellington Management Company LLP.
The funding follows Nanigans successful transition to a true Software-as-a-Service (SaaS) business model. Said Nanigans co-founder and CEO, Ric Calvillo, “We’ve spent five years developing our advertising automation software, and for good reason. Automating digital advertising allows marketing teams to bring this critical function in-house, resulting in both significant performance gains and cost savings. Nanigans software enables customers to manage, measure, and optimize their online advertising across multiple channels. Our customers run over $500 million in annualized ad spend using our software, confirming our leadership position.” READ MORE
Cortex Raises $500k
CORTEX IS ARTIFICIAL INTELLIGENCE FOR SOCIAL MEDIA MARKETING
Company Exits Two-Year Stealth with $500K Round, Customers, and Aim to Eliminate Complexity
Boston, MA - March 25, 2015 - Cortex exits a two-year stealth period today with $500K in early-stage funding, disruptive technology, and multiple satisfied customers. Cortex is artificial intelligence for social media marketing that helps brands increase their return on investment in social via consolidation of tools, automation of redundant work, and adding data to a currently unscientific practice.
“We’re helping companies get more return from their time and investment in social. As a powerful efficiency software, Cortex helps social media managers and agencies be more productive while enjoying work more. Our average customer has seen a 400% increase in engagement and seven hours per user, per week of time saved,” said Brennan White, CEO of Cortex. “By creating more effective and creative social media content, we are making marketing less intrusive and more enjoyable for consumers. The outcome is targeted, timely, and welcomed.”
Coming from eight years in the agency world, White and Chief Revenue Officer Matt Peters were users and clients of all major SaaS social tools. Cortex was created after they realized that existing tools focused entirely on analytics and process management, selling patchwork solutions to small social problems, rather than solving the fundamental underlying issue in social: complexity.
“Cortex coming out of stealth is a dark day for analytics and publishing platforms. These companies make money as long as social is an involved, time-consuming, multi-step process. They have no incentive to simplify social media marketing,” said Peters. “Using Cortex, social teams worry about fewer pieces of the puzzle, get better results, and have more time to focus on the most important piece: creating compelling content. Due to Cortex’s AI, our customers know that competitors will be monitored, content will be promoted, and posts will be executed optimally across their social platforms - all automatically.”
Cortex has more than a dozen active paying customers, and this early-stage round is led by four main funding sources including: Josh Adler, founder & CEO, Sourcewater; and Jere Doyle, general partner, Oyster Angel Fund.
“I invested in Cortex because it will have huge impact for companies that are using social tools and thinking about ROI, consolidation, and time investment in social. Clearly, every company needs to think this way,” said Doyle. “Cortex has already been the driving force behind multiple companies becoming the clear best-in-class. I invite all forward-thinking brands to meet Cortex.”
Cortex is artificial intelligence for social media marketing. Our SaaS platform removes the need for point solutions, social analytics, and social media management tools via machine learning and predictive analytics. Brands and agencies are able to save an average of seven hours per user per week, while increasing social KPIs by up to 400%. Learn more about how artificial intelligence will consolidate your marketing toolset at www.meetcortex.com or email@example.com.