Onapsis Raises $17M
Onapsis Raises $17M Round Led by Evolution Equity Partners to Boost Cyber Security of SAP and Oracle Enterprise Applications
Sharp rise in demand for emerging enterprise application security market drives new funding for cybersecurity firm; supports sales efforts, marketing and research & development
Onapsis, the global experts in SAP and Oracle enterprise application security, today announced it has closed a $17 million Series B funding round led by Evolution Equity Partners, with full participation of existing investor .406 Ventures as well as new investor Arsenal Venture Partners. This round brings the total investment in Onapsis to $30 million since the inception of the company. J.R. Smith, partner at Evolution and former CEO at AVG Technologies (NYSE: AVG), will join the company’s board of directors.
This news comes in the wake of a new breed of breaches that are stealthy and targeted on corporate espionage, estimated to cost an annual $445 billion for companies globally. The first widely and publicly reported breach affecting SAP enterprise applications involved USIS, which provided security clearance services for Office of Personnel Management (OPM) and Department of Homeland Security (DHS). This recent attack involved exploiting the company’s vulnerable SAP ERP systems and put a public spotlight on why hard to find vulnerabilities in complex SAP enterprise applications are the perfect target for cyber attackers. The oversubscribed investment in Onapsis reflects the sharp rise in demand for specialized, scalable and comprehensive solutions from Global 2000 organizations to secure their critical SAP and Oracle enterprise applications as well as a rapidly maturing market.
Enterprise applications running on SAP and Oracle such as enterprise resource planning (ERP), customer relationship management (CRM), human capital management (HCM), business intelligence (BI) and supply chain management (SCM) house an organization’s most valuable data and support mission-critical business processes. They are also major targets at risk to nation-state attacks, intellectual property theft, financial fraud and sabotage. However, today’s traditional security vendors do not offer detection and response capabilities necessary for fully securing the SAP and Oracle enterprise application layer from attacks. With SAP and Oracle releasing hundreds of security patches annually, security and IT teams are finding it a challenge to keep up. As these applications are increasingly moving to a hybrid cloud model, with mobile and IoT environments, their attack surface is expanding exponentially.
“It’s critical that, as an industry, we get SAP and Oracle enterprise application security right. The economic and legal risk is too high for businesses to continue operating with their critical data exposed,” said J.R. Smith, partner, Evolution Equity Partners. “Onapsis has established itself as the leading global experts in this field. Our commitment to enter one of the fastest growing market segments in security is attributed to Onapsis’ patented technology, a strong research and development team and the quality of execution from their leadership team,” continued Smith.
As estimated by Onapsis, the SAP and Oracle enterprise application security market will grow to approximately $3.3B by 2018 with the majority of the Global 2000 using these applications in traditional as well as cloud and mobile platforms across on-premise, hybrid and public cloud solutions.
“The need to better secure enterprise business application platforms has become increasingly evident, as suggested by recent high-profile breaches that directly targeted vulnerabilities in ERP systems. With the expansion of the attack surface to IoT, mobile and cloud, the potential for unauthorized or malicious access to these high-value assets – and the business risks such exposures entail – will increase along with it," said Scott Crawford, Research Director, Information Security, 451 Research.
With the influx of capital, Onapsis plans to scale research and development efforts and support the rapid adoption and delivery of its platform for the Global 2000 through expansion of sales, marketing and customer success teams.
“Leading CISOs of Global 2000 organizations are realizing that traditional security products and methods are not designed to protect their SAP and Oracle enterprise applications from cyber attacks, leaving their crown jewels exposed,” said Mariano Nunez, CEO and co-founder, Onapsis. “Having been the first company to identify this emerging threat and deliver the advanced technology and research required to address it, we have always been and remain fully committed to enable SAP and Oracle customers to run their business’ securely. This new round of funding, led by firms with an unmatched cybersecurity pedigree, further validates the demand for our solutions and our undisputed leadership in the enterprise application security market.”
“Onapsis has exceeded our expectations on both execution and earnings," says Maria Cirino, Managing Director, .406 Ventures. "It has definitely joined the ranks of the Boston-based cybersecurity elite. We are extremely fortunate to have one of the strongest VC cyber security portfolios and Onapsis is exceptionally well positioned as a first, best and only provider of SAP and Oracle cyber security to enjoy continued rapid growth as it dominates its market segment.”
In 2014, Onapsis achieved over 130 percent year-over-year revenue growth, launched the Onapsis Security Platform, secured a global patent, identified and helped SAP and Oracle solve more than 50 security vulnerabilities, and expanded its presence in Europe. For the year ending 2015, Onapsis is on track to achieve a consistent rate of growth with a strong pipeline, market awareness and an industry-leading solution, as well as a notable board of advisors and directors.
Onapsis provides the most comprehensive solutions for securing SAP and Oracle enterprise applications. As the leading experts in SAP and Oracle cyber-security, Onapsis’ enables security and audit teams to have visibility, confidence and control of advanced threats, cyber-risks and compliance gaps affecting their enterprise applications.
Headquartered in Boston, Onapsis serves over 180 Global 2000 customers, including 10 top retailers, 20 top energy firms and 20 top manufacturers. Onapsis’ solutions are also the de-facto standard for leading consulting and audit firms such as Accenture, IBM, Deloitte, E&Y, KPMG and PwC.
Onapsis solutions include the Onapsis Security Platform, which is the most widely-used SAP-certified cyber-security solution in the market. Unlike generic security products, Onapsis’ context-aware solutions deliver both preventative vulnerability and compliance controls, as well as real-time detection and incident response capabilities to reduce risks affecting critical business processes and data. Through open interfaces, the platform can be integrated with leading SIEM, GRC and network security products, seamlessly incorporating enterprise applications into existing vulnerability, risk and incident response management programs.
These solutions are powered by the Onapsis Research Labs which continuously provide leading intelligence on security threats affecting SAP and Oracle enterprise applications. Experts of the Onapsis Research Labs were the first to lecture on SAP cyber-attacks and have uncovered and helped fix hundreds of security vulnerabilities to-date affecting SAP Business Suite, SAP HANA, SAP Cloud and SAP Mobile applications, as well as Oracle JD Edwards and Oracle E-Business Suite platforms.
For more information, please visit www.onapsis.com, or connect with us on Twitter, Google+, or LinkedIn.
About Evolution Equity Partners
Evolution Equity Partners, based in New York City and Zurich, Switzerland, is an international growth stage technology investor helping exceptional entrepreneurs develop market leading companies with global reach. The firm has a focus on Information Security, Enterprise Software and Consumer/Enterprise crossover opportunities. Current and past portfolio companies include: AVG Technologies (NYSE: AVG), Cognitive Security (NASDAQ: CSCO), OpenDNS (NASDAQ: CSCO), 60K, Onapsis, NejTV, SecurityScorecard and others.
CommScope to Acquire Airvana
CommScope Holding Company, Inc. (NASDAQ: COMM), a global provider of connectivity and essential infrastructure solutions for communications networks, has agreed to acquire Airvana LP, a privately-held leader in small cell solutions for wireless networks.
Airvana, headquartered in Chelmsford, Massachusetts, provides award-winning 4G LTE and 3G small cell solutions that enable people to access communications, information and entertainment in the most challenging and high-value environments—offices, public venues and homes. Since its founding in 2000, Airvana has played a key role in enabling the use of mobile devices for data access. Airvana began small cell development to complement its macro cell mobile broadband infrastructure products and today focuses exclusively on small cells. Airvana has shipped 1.5 million small cells and supports one of the largest small cell networks in the world.
This acquisition will expand CommScope’s leadership and capabilities in providing indoor wireless capacity and coverage, an increasingly important market opportunity that is growing due to consumers’ and businesses’ insatiable demand for wireless data. The combination of Airvana’s innovative small cell offerings and CommScope’s industry-leading distributed antenna systems (DAS) portfolio will enable CommScope to provide a broader range of solutions, addressing single-operator, single-band, low capacity
environments all the way through multi-carrier, multi-technology, multi-band, high capacity environments.
“Airvana has differentiated itself in the emerging indoor small cell market through its unique product architecture and innovation,” said Morgan Kurk, senior vice president and Wireless segment leader, CommScope. “With a 15-year track record of delivering mobile broadband infrastructure products that meet the requirements of Tier 1 operators, Airvana’s carrier-grade embedded software development capabilities are impressive and complementary to CommScope.
“As the wireless industry evolves toward Cloud RAN, we believe that CommScope’s ION-E® solution and Airvana’s OneCell™ Cloud RAN small cell system together will comprise a full range of highly flexible, cost-effective solutions that address all the indoor wireless challenges customers face. I look forward to welcoming Airvana to CommScope and working with its talented team to provide the wireless solutions needed for today and into the future.”
Richard Lowe, Airvana’s president and chief executive officer; Vedat Eyuboglu, Airvana’s co-founder and chief technology officer; and Airvana’s existing employees, most of whom are in Chelmsford, Mass. and Bangalore, India, will join CommScope. The acquired business will continue to be headquartered in Chelmsford and will operate within CommScope’s Wireless segment upon completion of the acquisition.
“Our breakthrough Cloud RAN small cell architecture represents a dramatic advance in wireless performance, capacity and deployment economics,” said Eyuboglu. “With CommScope, we will be perfectly positioned to realize its full potential.”
“We look forward to pairing our expertise in small cells with CommScope’s broad portfolio and global presence,” said Lowe. “Combining our capabilities will create an extensive set of indoor wireless solutions to meet the evolving needs of our customers. Moreover, we believe CommScope’s global marketing, distribution and support capabilities will enable us to rapidly grow the business for our small cell products. CommScope's intent to remain a leader in small cells through technology innovation and their commitment to their workforce makes it an excellent home for the Airvana business.”
Airvana’s 4G small cell product portfolio includes OneCell, the world’s first Cloud RAN small cell system, targeted for enterprise and public venue LTE deployments. OneCell has won multiple technology awards, including the Outstanding Overall Mobile Technology award at Mobile World Congress 2015. Airvana also introduced recently the S1000 Small Cell for small and medium businesses, and is a finalist for the Emerging Technology Award at CTIA Super Mobility 2015 September 9-11 in Las Vegas. Both small cell solutions are managed via the Airvana Device Management System, a comprehensive, highly scalable small cell management system that enables plug-and-play provisioning of small cells, self-organizing networks (SON) and performance monitoring.
The acquisition, which is structured as a purchase of substantially all of Airvana’s assets, is expected to be completed within the next 60 days. CommScope intends to fund the acquisition with cash on hand. Additional terms of the acquisition were not disclosed.
Robinson Bradshaw & Hinson, P.A. is serving as legal advisor to CommScope. Pacific Crest Securities is serving as financial advisor to Airvana and Sidley Austin LLP is serving as its legal advisor.
netBlazr Closes $1 Million Funding Round
netBlazr, the fastest, most affordable Internet access for home and business in Boston, today announced that it has completed a $1 million funding round with an additional investment of $300,000 from Jeffrey P. Parker, co-founder of CCBN and well-known Boston-area angel. netBlazr is making significant new infrastructure investments and expanding coverage to more communities in Metro Boston.
Parker has invested in properties as diverse as Streetwise Media, FLYP, KnowledgeVision and Bison, and frequently collaborates with netBlazr board member and investor David Friend, chairman of Carbonite. Earlier this year, netBlazr announced $675,000 in funding from a group of investors including Friend.
Parker co-founded CCBN.com and served as the chairman and chief executive officer. Prior to this, Parker co-founded 38 Newbury Ventures, Technical Data Corporation, and FirstCall Corporation. Parker also served as the chairman and chief executive officer at Thomson Financial. Parker will serve as an advisor to netBlazr, focusing on the growth of the company's subscriber base and the ability to replicate its growth in other markets.
"I like to work with companies where it is easy to understand the benefits -- netBlazr offers better Internet access for less," said Parker. "I'm also impressed by the netBlazr team and their ability to execute and grow the business. Their network's growth isn't just adding more customers, it's strengthening that network. New nodes create additional redundancies and make the network stronger and more reliable."
"Jeff knows what it takes to build a successful company, and he's done it over and over again," said Jim Hanley, netBlazr's co-founder and CEO. "We're looking forward to working with him and leveraging his expertise to grow netBlazr and create a repeatable process for entering a market and winning subscribers."
netBlazr is the only Boston broadband provider with a 5 star Yelp rating. netBlazr's Concierge service delivers speeds above 300 Mbps and is available for less than $60 a month to residents of select apartment and condo buildings. There is no charge for owners of qualifying buildings with 100 or more units to add netBlazr as a choice for their residents.
netBlazr provides affordable, high-speed Internet to Boston residences and businesses as an alternative to the "big guys" who force people into high-cost service bundles that they don't want. netBlazr is a locally-owned business that offers "nothing but net", an Internet connection that is reliable and affordable and nothing else. No gimmicks, games, or tricks. Just broadband. Learn more at http://www.netblazr.com/
----- RELATED: Q&A with netBlazr Co-Founder & CEO Jim Hanley -----
Apperian Closes $12 Million In Series C Funding
Company Growth Accelerates as App-Centric Security and Management Take Center Stage and MDM Alone is Deemed Insufficient
Apperian® Inc., the mobile application management and security company, today announced it has completed a $12 million Series C funding round. New investor First Floor Capital joins Bessemer Venture Partners, Kleiner Perkins Caufield & Byers, North Bridge Venture Partners, Intel Capital and CommonAngels Ventures in backing Apperian. The funding will be used to fuel growth and platform innovation as CIOs and line-of-business leaders increasingly need to secure and manage the proliferation of apps and data in the enterprise. READ MORE
Harmonix Raises $15M
Per SEC Filing, Harmonix has raised $15 million. Harmonix is one of the world’s leading independent game development studios, best known for creating blockbuster franchises like Rock Band and Dance Central.
Databox Raises $3.3M Seed Round
Data startup Databox has raised $3.3 million in seed funding to help marketers and managers recognize and take action on the metrics that matter most for their business.
The funding round was led by Founder Collective, and joined by Accomplice and other investors.
Databox, an alum of Techstars Boston, helps marketers and managers at web-based businesses focus on their most important key performance indicators. The app integrates with popular online services such as Hubspot, Google Analytics, Intercom and more to pull key metrics from a variety of sources. Marketers can then set up custom alerts and personalized “scorecards” to track their metrics in real-time through an intuitive mobile app.
The company was founded by serial entrepreneurs Davorin Gabrovec and Vlada Petrovic. “We’re not trying to give people more data, or simply more ways to view their data.” Gabrovec said. “We’re helping them pay attention to the data they already have, at the time that it needs their attention.”
Unlike earlier generations of data monitoring and analytics apps, configuring Databox is straightforward and requires no technical expertise or development work.
In addition to continuing to build the product, funding will also go toward growing the Databox team. Swami Kumaresan, previously a senior executive and member of the founding team at Carbonite (Nasdaq: CARB), recently joined as CEO.
“Businesses are swimming in data, but few businesspeople are able to regularly cut through the clutter and pay attention to the metrics that actually matter,” Kumaresan said. “With Databox, marketers can set up alerts to be proactively notified when an important KPI isn’t tracking to target, or when a campaign performs exceptionally well.”
Lead investor David Frankel of Founder Collective added: “Databox is doing something truly different: bubbling up important, actionable information — without asking businesses to undertake extensive integrations and long implementations.”
Databox has previously raised $400,000 in funding, bringing the total raised to $3.7 million.
Databox is a data monitoring app that makes it easy for marketers and managers to pay attention to important metrics, right when they matter most. Users can track their KPIs by hooking up to popular services like Adobe Analytics, Hubspot, Google Analytics and more, with just a few clicks. Customizable alerts and proactive notifications delivered via a mobile app ensure marketers and managers can act on important data points quickly. Databox is a TechStars alum with offices in North America and Europe.
Ivenix Inc. Secures $42 Million in Funding
Ivenix Inc., a medical technology company developing a next-generation infusion management system, closed on a $42M round of equity financing led by new investor WuXi Healthcare Ventures. Cardinal Partners, CICA, Inc., Easterly Capital, Fidelity Biosciences, and SCP Vitalife Partners also participated in the round. This financing will support the company's efforts to enter the $6B global infusion market. Leerink Partners LLC acted as the exclusive placement agent for the financing.
While drug therapies have become more complex and impactful, infusion pumps on the market today still rely on legacy technology. The outdated technology can cause medication errors that are estimated to cost the U.S. healthcare system more than $2 billionannually1 and can complicate and disrupt the flow of care. In response to multiple concerns in the marketplace, the FDA issued more stringent guidance for infusion systems in December 2014.
The Ivenix Infusion Management System is designed to improve patient safety and workflow efficiency, and has three unique differentiators designed to dramatically reduce errors:
A fundamentally new pump delivery system delivers medications at a steady and consistent rate under all clinical conditions, without requiring nurses to manually adjust the height of the bag or the pump settings to deliver fluids at the correct rate.
- An intuitive, smartphone-like user interface guides the nurse through the setup of the prescribed medication, alerting the nurse to any potential medication complications along the way.
- A powerful information technology system shares infusion data with the patient's electronic medical record (EMR), and gives nurses and clinicians mobile access to secure data. The system also includes built-in quality and analytics tools, giving providers the ability to understand and report quality metrics.
"The Ivenix Infusion Management System is designed to address all the major pain points that exist with older systems," said Jesse Ambrosina, co-CTO and Vice President of Infusion Systems. "Our team has completed hundreds of hours of testing, and we're on track to deliver a system that not only fully adheres to the current FDA guidelines, but is also cost-effective."
"Over the past few years Ivenix has assembled a world class development team that is passionate about saving lives and sees tremendous opportunity to increase safety, ease-of-use and help improve patient outcomes," said George Gray, co-CTO and Vice President of Information and Software Systems. "From the start, we worked closely with nurses and other key stakeholders to understand their workflow and priorities. Those conversations have allowed us to develop a completely fresh, fully-integrated infusion management system – designed to prevent the errors inherent in currently-available systems, and enable clinicians to spend more time on what really matters – patient care."
About Ivenix Inc.
Ivenix, Inc. is a venture-backed medical device company with a vision to transform infusion delivery in every care setting, globally. The company is focused on bringing its first product to market, a new and innovative infusion management system for hospitals. The system combines integrated state-of-the-art information technology and simplicity with an adaptive fluid delivery platform that continuously measures flow. The company is headquartered in Amesbury, Massachusetts. For more information, visit www.ivenix.com. See Release
** Learn more about Ivenix on their VentureFizz BIZZpage **
Bit9 + Carbon Black Acquires VisiTrend
Bit9® + Carbon Black®, the market leader in endpoint threat prevention, detection and response, today announced it has acquired Boston-based security analytics and visualization firm VisiTrend. The acquisition reflects Bit9 + Carbon Black's continuing investment in innovation that enables it to deliver the industry's number-one next-generation endpoint security solution to its growing global customer base.
VisiTrend co-founders John Langton, Ph.D., a data scientist, and Alex Baker, Ph.D., a data science engineer, are among the employees joining the Bit9 + Carbon Black research and development organization. The analytics and visualization expertise of the team—along with the VisiTrend IP—combined with Bit9 + Carbon Black's big data platform will help accelerate and expand the company's industry-leading capabilities. The combination of endpoint data and global threat intelligence with machine-learning algorithms will take endpoint threat prevention, detection and response to a new level.
"The war against advanced threats and targeted attacks will be won by the solution provider that does the best job of combining robust and innovative products with the very best analytics and machine learning," said Patrick Morley, Bit9 + Carbon Black chief executive officer. "That company will be Bit9 + Carbon Black. Since the merger of Bit9 and Carbon Black 18 months ago, we have been experiencing hyper growth, as the demand for next-generation endpoint security solutions continues to explode. Adding VisiTrend's expertise and IP will help us continue our amazing growth trajectory."
The VisiTrend team will be based in a soon-to-open Bit9 + Carbon Black technology development office in downtown Boston. That facility also will be home to the cloud software development team the company acquired in May of this year. "Having an office in such a convenient location will make us an even more attractive destination for technical talent who prefer to work in Boston," said Morley.
About Bit9 + Carbon Black
Bit9 + Carbon Black is the market leader in next-generation endpoint security. The company expects that by the end of 2015 it will achieve $70M+ in annual revenue, 70 percent growth, 7 million+ software licenses sold, almost 2,000 customers worldwide, partnerships with 60+ leading managed security service providers and incident response companies, and integrations with 30+ leading security technology providers. Bit9 + Carbon Black was voted Best Endpoint Protection by security professionals in the SANS Institute's Best of 2014 Awards, and a 2015 SANS survey found that Carbon Black is being used or evaluated by 68 percent of IR professionals. Companies of all sizes and industries, including more than 25 of the Fortune 100, use Bit9 + Carbon Black to increase security and compliance.
Bit9 and Carbon Black are registered trademarks of Bit9, Inc. All other company or product names may be the trademarks of their respective owners.
See Original Release
Klaviyo Raises $1.5M
Klaviyo, the intelligent platform for ecommerce email campaigns, has raised $1.5M in funding from Accomplice and select angels, including David Cancel, Elias Torres and TJ Mahoney. Founded in 2012, Klaviyo has developed a system that analyzes disparate and often real-time data points, about individual customers and prospects, in order to automate personalized communications. The solution is being used at thousands of ecommerce companies to maximize return on email campaigns; and Klaviyo will use the new funding to accelerate growth in development and sales/marketing.
“Email campaigns have become synonymous with mass blasting giant lists of people with the same email, leading to a world where our inboxes are crowded, spam folders full, and we don’t engage with or like the emails we receive,” said Andrew Bialecki, co-founder and CEO of Klaviyo. “Klaviyo solves this problem. We plug into different data sources that companies already have and use that data to personalize communications to customers and prospects. We are excited that our investors share our vision for transforming ecommerce marketing.”
Almost a trillion emails are sent each month. Current email platforms are primarily focused on sending large quantities of messages that are the same for everyone, with very little personalization. Through its simple and intuitive API, Klaviyo integrates with an ecommerce company’s data sources to better understand their customer’s relationship with the brand (i.e. what they have or haven’t bought, website activity, engagement with previous communications, events attended, products returned and more). As a result, the Klaviyo platform understands the customer’s behavior and can target and/or trigger personalized communications at the optimal time.
“Klaviyo has created a powerful email marketing platform that is incredibly easy to use; being able to run small, hyper-targeted, personalized campaigns is the holy grail for marketers,” said Jon Karlen, a partner at Accomplice. “Andrew and Ed have already built a successful company and they are the perfect team to lead it through this rapid growth phase.”
Andrew Bialecki and Ed Hallen founded Klaviyo in 2012, after working together at Adaptive Predictive Technologies (APT) where they built big data-driven marketing solutions for Fortune 500 companies. “We started working with companies and realized what a frustrating, manually-intensive process it was to email someone who had bought a suit two months ago but not the perfect matching shirt and tie. That’s when the opportunity became clear,” said co-founder Ed Hallen. On average, Klaviyo’s customers earn ~$75 for every dollar spent.
Klaviyo helps brands build stronger relationships with their customers through communications that are personal and predictive. For more information, visit www.klaviyo.com.
See Blog from Klaviyo Founders
Mobee Closes $5M Series A Financing
Mobee, the leader in Real-time Crowdsourced Data & Insights For Brands, Retail & Asset Management Firms, has closed on a $5M Series A financing. The financing was led by Flint Capital (www.flintcap.com) and Flint Capital's Partner, Sergey Gribov, will be joining Mobee's Board of Directors. Funds will be used to expand market reach and client engagement as well as continuing Mobee's rapid evolution of industry-leading technology for crowdsourced intelligence gathering. That real-time technology offers direct visibility to the retail store, aisles and shelves providing alerts and data and analysis tools for an immediate view into brand and retail execution, performance and competition. With a national reach, Mobee is poised to collect thousands of geo-located data points and photographs in a matter of hours, not months.
Existing investors Stage 1 Ventures, Atlas Venture, and InterWest Partners also participated in this round.
"I am thrilled to have Flint Capital on the Mobee team and to have Sergey join our Board of Directors. Flint brings a pragmatic and supportive approach to venture investing and have been a pleasure to work with through this financing," said Hal Charnley, Mobee's President/CEO.
"Mobee personifies the type of investment that we seek at Flint. A young, vibrant team with a firm grasp of their market and the ability to dominate their category. As a Boston-based firm, we're excited to have an investment in our own backyard," said Sergey Gribov, Flint's Partner.
Mobee was founded in 2011 with a vision to use mobile technology and the power of the crowd to collect the world's offline data. Mobee is the leader in real-time crowdsourced data & insight for brands, retail and asset management firms. Mobee provides direct visibility to the stores, aisles and shelves, real-time alerts and data and analysis tools, providing immediate view into retail execution, performance and competition. With a national reach, Mobee is poised to collect thousands of geo-located data points and photographs in a matter of hours, not months. Brands & retailers can now get real-time insights into the leading drivers, "the whys," of their retail sales across critical performance insights including; new product launch, competitive intelligence, seasonal program check, in-store promotions & displays, product availability & shelf positioning, product demonstrations, sales associate training & customer messaging. For more information visit us at http://www.getmobee.com
About Flint Capital
Flint Capital is a $100 million international investment fund with offices in USA (Boston and Palo Alto), Israel and Europe. It was founded in 2013 to support the best entrepreneurs, wherever they are. Flint is a multi-stage venture fund, which focuses on investments in mobile, SaaS, Advertisement, Financial as well as Security and Enterprise sectors of high technology. More information can be found at www.flintcap.com.
SmackHigh Raises $1.65 Million in Seed Capital
SmackHigh, a social consumer start-up for teens, today announced that it has raised $1.65M in its seed round. The round was led by Flybridge Capital Partners, with major participation from an AngelList syndicate led by Wayne Chang, Head of Product Marketing, Mobile Platform at Twitter, and Boston Seed Capital. Also participating were Mike Baker of DataXu, and several prominent angel investors from the Boston area, including David Chang, formerly of PayPal. SmackHigh amplifies the teenage voice, specifically for high school students, by aggregating news-based submissions from high school students themselves via social media vehicles on Twitter and its own website, and then distributing them across thousands of high schools across the country. With hundreds of thousands of teens in communities currently operating in 26 states, SmackHigh plans to use the funding to broaden its nationwide community presence and continue to invest in its technology platform.
SmackHigh is a posting service for teens, organized by geography and based on common interests relevant to every day high school student life. The platform gives teens a way to connect and express themselves within the context of the school communities they care about, and more importantly, within the context of relevant topics and interest groups. By putting community first, SmackHigh empowers teens to define the identities of their communities and the affinity groups that exist within them, e.g. basketball players, freshmen only, etc. This adds context to the discussions and gives all high school students a way to relate and engage, be it with students within their own core affinity groups or those belonging to others. Teens post anonymously through the identity of their school community, thereby allowing full freedom of expression and fluid movement between social groups.
Facilitating the conversations are the SmackHigh reps, thousands of teens from the SmackHigh community who both provide gentle moderation, but also serve as a continued feedback loop between their respective high schools and SmackHigh. This mechanism has allowed the SmackHigh community to grow organically and authentically, yet safely using the voices of teens as the boundaries.
“The teen voice is powerful, but has often been overlooked or gone unheard because it’s been buried in communities that are either too disperse or too general,” said Giuseppe Stuto, CEO of SmackHigh. “SmackHigh gives teens an easy and fun way to build and control the evolution and tones of their own spaces in a very meaningful and relevant way, which is an essential need of our next wave of online community builders.”
This strategy has led to strong organic growth, with over 800,000 opt-in followers concentrated in tight geographic communities that span 26 states via Twitter and, more recently, Snapchat. The pace of growth has increased sharply over the last year; SmackHigh boasts more than 800% growth in monthly submissions from February to June, bringing total monthly timeline impressions to over 450 million.
“Teens are obsessed with group messaging and communicating via their mobile phones,” said Jeff Bussgang, Flybridge general partner. “SmackHigh is appealing to this obsession by providing an open, social networking platform that provides teens anonymity yet in the context of their core school community.”
SmackHigh will immediately invest in growing its platform, expanding its SmackHigh rep presence, and further marketing geography and channel expansion.
About Smack, Inc.
Smack, Inc.’s service, SmackHigh is a geographically centralized social consumer posting service for teens that leverages Twitter and Snapchat to allow teens from the same geography to connect and build community. SmackHigh was founded in 2013 as a casual place for teens to connect on Twitter; under the leadership of Giuseppe Stuto (CEO), Frank Iudiciani (CMO), and Kevin Flynn (CTO), the Company has to date amassed over 800,000 followers nationally, generating over 450 million monthly timeline impressions.
Celect Raises $5M in Funding
Celect, a fully data-driven customer choice modeling suite, launched today with $5 million in Series A funding led by August Capital with participation from Activant Capital Group.
The Boston-based company, founded by MIT professors Vivek Farias and Devavrat Shah, uses a fundamental technological breakthrough in machine learning, which allows retailers to truly understand their customers’ buying patterns. This technology enables merchandisers, retail planners and inventory analysts to create optimized and localized product assortments, and in turn, increase inventory turnover and revenue while fostering a better customer experience. An early pilot of Celect’s technology in ten stores at The Bon-Ton Stores, Inc., a regional department store, operating 270 locations across the US, shows positive increases in in-store revenue over the control group...READ MORE
Toast Raises $3M in Funding
As per SEC filings, Toast in Boston, Massachusetts has raised $3M in debt financing. Toast is an all-in-one POS and restaurant management solution with powerful tools to cut costs, drive revenue, and engage customers... READ MORE
RIFT.io Raises $16 Million In Series A Funding
BURLINGTON, Mass. – August 13, 2015 – RIFT.io, today announced the completion of a $16 million series A round of funding, led by North Bridge Venture Partners with participation from other strategic investors. The funds raised will be used to continue the development of RIFT.ware, the company’s open source network virtualization platform, and expand its world-class product, design, and engineering teams, while growing its marketing and customer support capabilities.
RIFT.io was founded in 2014 by CEO Greg Alden, an industry veteran joined by fellow co-founders, CTO Tim Mortsolf and CDO Matt Harper. The company features a talented leadership team including CSO Tony Schoener; CFO Scott Bryce, and SVP, Business & Market Development Vincent Spinelli, who have decades of experience in networking and enterprise software and held senior management roles at Cisco, Starent Networks, Juniper, 3COM, Redback, EMC, Arrowpoint and Movik Networks. Headquartered in Burlington, MA with offices in San Jose, CA and Bangalore, India; RIFT.io specializes in open source, hyperscale network virtualization software that simplifies the development, deployment and management of virtual network services, applications and functions.
The RIFT.io founders believe that network services need to migrate from proprietary appliances to open, hyperscale networking software services in order for virtual network functions (VNFs) to be relevant in cloud networks that support Web, mobile, and IOT-centric applications. RIFT.io promises to fundamentally change the economics of the networking industry and help customers reduce complexity and accelerate service velocity.
“The walls between network product suppliers and network service consumers are disappearing. Our goal from day one was to build a platform that would provide everyone with the same capabilities and technology enjoyed by the largest networking technology companies,” said Greg Alden, chief executive officer of RIFT.io. “Robust Open Source components, high performance general purpose computing, and RIFT.ware make this a reality. Our software addresses the unique challenges and complexities of network applications and leverages the best of open source and hyperscale data center technology to bring innovation, lower cost and an emerging community of value-adding solution providers.”
Network applications and VNFs built with RIFT.ware combine the economics and scale of hyperscale data centers with the security and availability of carrier-grade network services. Companies can start with a single network application or service on a single virtual machine (VM) on any cloud platform and scale to any number applications, VMs, and locations on multiple clouds with no capacity constraints or distance limitations. This dramatically lowers the risks associated with rolling out new services, allowing providers and enterprises to easily trial and evolve services to determine what best meets the needs of customers.
“Benu Networks has been a leader in developing network solutions that embrace virtualization and cloud technologies,” said Dino Di Palma, CEO, Benu Networks. “ Partnering with RIFT.io has sped our development of solutions for the connected home, helped us build a more robust, scalable virtual network application and allows us to target any customer on any cloud infrastructure, at any scale.”
Network function virtualization promises the same transformation in network applications that virtualization delivered to Web-based applications. Virtualization is now foundational to over $3 trillion in annual IT spending. The transformation in network applications, driven by the Internet of Things and the growth in the number of connected devices, will have an even larger impact and the pace of change will be unprecedented. According to Beecham Research, the world will be host to more than fifty billion device connections by the year 2020, emphasizing the importance of scalability, security and efficient connectivity.
“At North Bridge we invest in great ideas and great teams. It is rare to find a team that can adapt so easily to the changing market and technology requirements, especially a team has worked together for many years.” said Ed Anderson, managing general partner of North Bridge. “Our most successful portfolio companies have been the disruptors with bold ideas and the capability to achieve their potential. The pace of software innovation is changing everything and we are thrilled to be working with RIFT.io as a true partner to accelerate the transformation.”
Rift.io recently joined the Intel® Network Builders program in July, an ecosystem dedicated to accelerating the transition to SDN and NFV solutions based on industry open standards.
“NFV service orchestration will require increasing intelligence that can best determine how to take advantage of the underlying hardware capabilities and apply them to the right workload.” said John Healy, General Manager, SDN Division, Intel Corp. “By joining the Intel Network Builders program, RIFT.io will help to accelerate the adoption of NFV and enable service providers and enterprises to take advantage of key capabilities such as enhanced platform awareness (EPA) on Intel architecture.”
RIFT.io will be showcasing their software August 18th – 20th at the Intel Developer Forum being held at the Moscone West Convention Center in San Francisco, CA. Come visit the company in booth # 163.
RIFT.io makes it simple for network service developers, enterprises, and service providers to create, deploy, and manage Web-scale network applications and virtual network functions (VNFs). Network applications and services built with RIFT.io technology combine the economics and scale of hyperscale data centers with the security and availability of carrier-grade network services. RIFT.io is a privately held, global company with offices in the United States and India. For more information about RIFT.io, visit http://riftio.com/. Follow us at @RIFT_io.
About North Bridge
North Bridge Venture Partners and North Bridge Growth Equity are active partners with entrepreneurs providing seed-to-growth financing for innovative companies looking to disrupt big markets. With nearly $4 billion in capital currently under management, North Bridge partners, many founders themselves, work with entrepreneurs to apply their expertise in the creation, operation and scaling of market-leaders. The firm has funded more than 200 companies creating many billions in market value. The firm has offices in Boston, MA and Palo Alto, CA. To learn more about North Bridge go to www.northbridge.com. Follow us at @North_Bridge
 M2M World of Connected Services. 2009. Infographic. Beecham Research, Boston. Web. 22 Jul 2015.
Jibo, Inc., Raises $11M in Series A Extension Financing
Leading Asia-Pacific Investors Acer, Dentsu, KDDI, LG Uplus and NetPosa Validate Jibo's International Appeal
BOSTON, MA--(Marketwired - Aug 5, 2015) - Jibo, Inc., the company behind Jibo -- the first Social Robot for the home -- has closed $11M in a Series A extension round with strategic investors from Taiwan, Japan, Korea and China. Participating investors include:
- Acer (Taiwan) - Established in 1976, Acer is a hardware + software + services company dedicated to creating innovative products that enhance people's lives.
- Dentsu Ventures (Japan) - Dentsu Ventures invests in technology startups, with a focus on marketing, media, social, devices and others.
- KDDI (Japan) - KDDI is one of Asia's top telecommunications carriers.
- LG Uplus (Korea) - LG Uplus is a telecommunications and mobile phone operator in South Korea.
- NetPosa (China) - NetPosa Technologies Ltd. delivers comprehensive video monitoring and storage solutions.
In January of this year, Jibo, Inc. raised $25.3M in Series A financing. Monies invested in this extension round will be used to accelerate Jibo operations, product enhancements, partner content integrations and Jibo's market introduction. Prior to this strategic investment, Jibo's combined Indiegogo and InDemand campaigns raised approximately $4M with more than 6,500 Jibos sold.
"This round of strategic investment, centered in the target markets of Taiwan, Japan, Korea and China, will be a cornerstone of Jibo's further expansion into international markets," said Steve Chambers, CEO of Jibo, Inc. "We believe these investments in Jibo highlight the appeal of consumer social robots, and of Jibo himself, in the growing Asia-Pacific market."
Jibo helps the family stay connected and improves family communication -- anything from lending a hand in managing your busy life to providing companionship and entertainment. Jibo transforms existing, flat content and application experiences so you can interact with technology in a way never before possible.
"The social/interpersonal exchange inherent to social robotics like Jibo brings a new experience to in-home connected technologies -- one reflective of the intimacy of the home. It will be particularly interesting to watch Jibo evolve for cultural appropriateness across the globe," said Jessica Groopman, an industry analyst with the Altimeter Group covering the Internet of Things. "The vision here is compelling as Jibo will strive to establish a strong personalized relationship between the connected home and the family members living in it. Intelligent interaction design with tightly choreographed and culturally-specific movement, graphics and voice will be critical to successfully localizing Jibo to AsiaPac markets, and beyond."
About Jibo, Inc.:
Jibo, Inc., creator of the world's first Social Robot and Developers' Platform, is a design-driven company dedicated to creating unforgettable experiences through advanced social robotics technology. The Company was founded by Cynthia Breazeal, a pioneer of social robotics and human robot interaction from the MIT Media Lab. Jibo is a capable and engaging Family Companion. He is able to get to know his family, learn from them and adapt to their preferences overtime. With the Jibo SDK, developers have the tools to create and build a wide range of Jibo Skills (robot applications), extending Jibo's personality and capabilities in the home. Jibo was brought here to provide fun, help and companionship to everyone in the home. Get to know Jibo today at www.jibo.com.
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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...
DraftKings Secures $300M In Funding
DraftKings, Inc., a leading daily fantasy sports destination, today announced it has secured a $300 Million Series D round of funding led by FOX Sports. Also participating in the round were major North American sports leagues Major League Baseball, the National Hockey League and Major League Soccer; leading sports organizations The Madison Square Garden Company and Legends; as well as existing investors Atlas Venture, DST Global, GGV Capital, The Kraft Group, The Raine Group and Wellington Management Company LLP. DraftKings will use the additional funding to continue building out its industry-leading web and mobile products, launch its product internationally, and explore new opportunities for vertical expansion.
DraftKings has become the fastest-growing company in DFS since its launch in 2012, having just registered its 100 millionth contest entry this month. The company is expected to award well over $1 Billion in prizes in 2015, up from approximately $300 Million in 2014.
"To receive this type of support from such an outstanding group of organizations, including three major sports leagues, is an incredible milestone for us and reaffirms our leadership position in Daily Fantasy Sports," said Jason Robins, CEO of DraftKings. "We intend to leverage these resources to develop even more innovative daily fantasy sports contests and provide new exclusive once-in-a-lifetime experiences for our players."
"Partnering with DraftKings, a clear leader in this field, is a great opportunity for us to capitalize on the growth of daily fantasy sports for the benefit of our viewers," said Eric Shanks, President and COO, FOX Sports. "We'll work with DraftKings to develop ideas and create content to drive deeper engagement with sports fans across multiple platforms, including our national, local, and digital properties."
Fresh off a recently announced exclusive multi-year partnership with ESPN, under which DraftKings will become the official daily fantasy partner of the media network across broadcast and digital platforms, today's announcement builds upon the company's leadership role in the DFS industry and its commitment to player satisfaction over a broad range of platforms. A recent research study by independent firm Eilers, confirmed DraftKings is the favorite daily fantasy sports site among players and has over 10 times the net promoter score (a measure of customer satisfaction and advocacy) of its next significant competitor.
As the first company to take DFS into the mainstream through its original partnership with MLB three years ago, DraftKings now has five major league deals (MLB, NHL, NASCAR, UFC, MLS). Additionally, DraftKings holds relationships with teams across all major sports, branding at marquee facilities like Madison Square Garden and STAPLES Center, and integrated sponsorships with top sporting events, including this year's Triple Crown win at the Belmont Stakes.
The Raine Group worked as exclusive advisor to DraftKings on the transaction.
DraftKings, Inc. is a leading skill-based Daily Fantasy Sports (DFS) gaming destination for fans in North America to compete in single-day online games for cash and prizes across the largest variety of professional and collegiate sports. DraftKings is the exclusive DFS partner of Major League Baseball, the National Hockey League, NASCAR, Ultimate Fighting Championship and Major League Soccer. Founded in 2012 by CEO Jason Robins, CRO Matt Kalish and COO Paul Liberman, DraftKings is headquartered in Boston, Mass. For more information about DraftKings, Inc., visit www.draftkings.com.
About FOX Sports
FOX Sports is the umbrella entity representing 21st Century FOX's wide array of multi-platform US-based sports assets. Built with brands capable of reaching more than 100 million viewers in a single weekend, FOX Sports includes ownership and interests in linear television networks, digital and mobile programming, broadband platforms, multiple web sites, joint-venture businesses and several licensing partnerships. FOX Sports includes the sports television arm of the FOX Broadcasting Company; FOX Sports 1; FOX Sports 2; Fox's 22 regional sports networks, their affiliated regional web sites and FSN national programming; FOX Soccer Plus and FOX Soccer 2Go; FOX Deportes and FOX College Sports. In addition, FOX Sports also encompasses FOX Sports Digital, which includes FOXSports.com, FOX Sports GO, Whatifsports.com and Yardbarker.com. Also included in the Group are FOX's interests in joint-venture businesses Big Ten Network and BTN 2Go, as well as licensing agreements that establish the FOX Sports Radio Network.
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Ecovent Closes $6.9 Million in Funding
Emerson Climate Technologies Leads Series A Round Amid Pre-Order Success of the CES 2015 Automation Product of the Year
Ecovent (ecoventsystems.com), the maker of the only intelligent home zoning system that delivers complete room-by-room climate control, today announced that it has closed a $6.9 million Series A funding round led by Emerson Climate Technologies, a business segment of Emerson (NYSE:EMR). The round includes participation from Tamarisc and Blue Fog Capital.
Ecovent started the year being named Automation Product of the Year at CES 2015, and has struck a chord with consumers, bringing in more than $1 million in pre-orders. Ecovent is transforming the home by giving consumers control over their comfort in every room. Ecovent’s advanced system of wireless vents and sensors intelligently diagnose the factors impacting room temperature and automatically adjust airflow into each room to achieve the perfectly desired temperature. With Ecovent, homeowners have the ability to control the temperature of each room individually through an app, saving energy and money by heating and cooling only the rooms that need conditioning instead of the entire home.
“Today’s cars allow passengers and drivers to set individual temperatures, yet most homes have only one adjustable zone, and it’s time to change that,” said Dipul Patel, CEO and co-founder of Ecovent. “We developed the Ecovent system to give people room-by-room temperature control in any home – automatically. It’s incredibly exciting to have the support of an industry titan like Emerson to help us bring Ecovent to a larger audience as we change the way homeowners experience comfort in their homes.”
For HVAC contractors and other industry professionals looking to deliver home climate control to their customers, Ecovent provides a complete, wireless zoning system that is more cost effective, less invasive and far easier to install than traditional zoning systems.
“With Ecovent, we see the potential to fix an issue that has gone unsolved in the residential HVAC industry for decades,” said Bob Sharp, Emerson executive vice president and climate technologies business leader. “Ecovent’s ability to function seamlessly in tandem with Emerson’s solutions for home comfort and energy efficiency makes them a natural fit as an investment and strategic partner.”
To learn more or reserve your Ecovent system, visit www.getecovent.com.
About Emerson Climate Technologies
Emerson Climate Technologies, a business segment of Emerson, is the world’s leading provider of heating, air conditioning and refrigeration solutions for residential, industrial and commercial applications. The group combines best-in-class technology with proven engineering, design, distribution, educational and monitoring services to provide customized, integrated climate-control solutions for customers worldwide. The innovative solutions of Emerson Climate Technologies, which include industry-leading brands such as Copeland Scroll™ and White-Rodgers™, improve human comfort, safeguard food and protect the environment. For more information, visit EmersonClimate.com.
Designed for comfort-focused homeowners, Ecovent is the only intelligent home zoning system that delivers complete room-by-room climate control through easy-to-install, self-configuring sensors and vents. Based in Boston, Mass., Ecovent brings smart HVAC technology to the residential marketplace through an advanced system of vents and sensors that intelligently diagnose the factors impacting room temperature and adjusts airflow going into each room to achieve the preferred temperature. For more information, please visit www.ecoventsystems.com or follow Ecovent on Twitter at @ecoventsystems.
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ACT.md Raises $8.4M in Series A Funding
ACT.md, the provider of a team-based care coordination platform for the management of complex patients, announced today a $8.4 Million Series A funding agreement led by Rose Park Advisors, a specialized investment firm that utilizes Clayton Christensen's research to make intelligent and successful investment decisions. ACT.md will leverage this investment to accelerate product development and help manage the company's rapid growth.
National leaders in healthcare informatics and operations - Dr. Isaac Kohane, Dr. Kenneth Mandl, and Ted Quinn - founded ACT.md. "We were inspired to launch ACT.md after observing for decades the constant dropped handoffs across the various providers caring for patients. So we created ACT.md as an operating system for team-based care that drives action toward improved outcomes and reduced costs," said Dr. Kenneth Mandl, Professor at Harvard Medical School and Director of the Boston Children's Hospital Computational Health Informatics Program...READ MORE
Beacon Raises $7.5M in Funding
Beacon, the premier all-you-can-fly membership for frequent fliers in the Northeast, today announced that it has completed $7.5 million in Series A and other financing led by Romulus Capital with participation from MiVentures, Western Technologies Investment, and several other early stage investors.
Beacon is bringing an innovative, convenient and sleek travel experience to the Northeast, with plans to launch in late summer 2015. For as little as $2,000 a month, Beacon offers unlimited access to regularly scheduled flights, with reservations, changes and cancellations made as little as 20 minutes before departure at no additional cost, via the Beacon app. Beacon’s service will provide efficient travel between New York and Boston, as well as the seasonal destinations of Nantucket and the Hamptons... READ MORE
Ginkgo Bioworks Raises $45M in Funding
Ginkgo Bioworks, an organism design company, today announced that it has raised $45 million in an oversubscribed Series B round. Viking Global, a firm managing more than $30 billion in capital, led the round along with previous investors including OS Fund, Y Combinator and Felicis Ventures. The new funds will be used to expand into new categories such as pharmaceuticals, cosmetics and probiotics, as well as hire additional employees and build out Bioworks 2, the next generation of Ginkgo’s robotic Foundry.
“Ginkgo Bioworks was our first ever biotech investment and was part of the Y Combinator class of 2014,” said Sam Altman, President at Y Combinator. “Synthetic biology is one of the fastest growing areas of tech right now and Ginkgo is leading the category. We're excited to invest again in the company." READ MORE
.406 Ventures Closes Third Fund
.406 Ventures, a Boston-based venture capital firm investing in early-stage innovative enterprise technology companies, announced today that earlier this month, the firm closed its third fund at $217M and that Payal Agrawal Divakaran has joined the firm as a Senior Associate.
Maria Cirino, Co-Founder and Managing Partner commented, “We are delighted to add Payal to the .406 investing team. She has exceptional experience as both an entrepreneur and a technology investor and shares our passion for helping entrepreneurs build world-changing companies.”
Liam Donohue, Co-Founder and Managing Partner at .406 Ventures added, “We are equally thrilled to have closed our third fund, which was significantly oversubscribed, with our growing base of world-class Limited Partners, many of whom have been with us since our first fund.
“.406 Ventures is a leading venture capital firm with a strong culture and a passionate team committed to helping entrepreneurs build great companies,” said Payal. “The firm has deep expertise in its core sectors, and the Partners bring tremendous experience to the table. I look forward to learning from the team and having this opportunity to partner with and help entrepreneurs.”
Prior to joining .406, Payal was at Harvard Business School (HBS), where she co-founded a company called SpotRocket to help job-seeking students discover high potential startups. She previously worked in Corporate Development at Eventbrite.
Prior to HBS, Payal was an Associate at Spectrum Equity, a technology growth equity investor in Boston with $5.7B under management. She sourced and executed deals in the software, information services, data/analytics, cybersecurity, and Internet segments. Payal started her career in technology investment banking at J.P. Morgan in NYC.
Payal received her MBA, with Distinction, from Harvard Business School and her BS in Electrical Engineering and minor in Management from MIT. Payal resides in Cambridge, Massachusetts with her husband.
About .406 Ventures
.406 Ventures is an early stage technology venture capital firm investing in enterprise technology companies founded by visionary entrepreneurs. .406 Ventures was founded in 2005 and has ~$600M under management. The .406 Ventures team is comprised of entrepreneurs and operators who became investors to apply real world experience and strong company-building skills to create value for entrepreneurs and LPs. The firm leads, or co-leads, first institutional investment rounds in market-changing Enterprise IT companies and world-class operators, who move quickly and embody successful entrepreneurial DNA with their passion, creativity and endurance.
Learn more about: .406 Ventures
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Rapid7 Announces Pricing of IPO
Rapid7, Inc a leading provider of security data and analytics solutions, announced today the pricing of its initial public offering of 6,450,000 shares of common stock at a price to the public of $16.00 per share. All of the shares are being offered by Rapid7. The shares are expected to begin trading on The Nasdaq Global Market on July 17, 2015 under the ticker symbol "RPD". The offering is expected to close on July 22, 2015, subject to customary closing conditions.
In addition, Rapid7 has granted the underwriters a 30-day option to purchase up to an additional 967,500 shares to cover over-allotments, if any.
Morgan Stanley & Co. LLC and Barclays Capital Inc. are acting as joint book-running managers for the offering. Pacific Crest Securities, a division of KeyBanc Capital Markets Inc., William Blair & Company, L.L.C., Raymond James & Associates, Inc., and Cowen and Company, LLC are acting as co-managers. The offering was made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: (888) 603-5847, email: Barclaysprospectus@broadridge.com.
A registration statement related to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. Copies of the registration statement can also be accessed by visiting the Securities and Exchange Commission website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Rapid7 is a leading provider of security data and analytics solutions that enable organizations to implement an active, analytics-driven approach to cyber security. We combine our extensive experience in security data and analytics and deep insight into attacker behaviors and techniques to make sense of the wealth of data available to organizations about their IT environments and users. Our solutions empower organizations to prevent attacks by providing visibility into vulnerabilities and to rapidly detect compromises, respond to breaches, and correct the underlying causes of attacks. Rapid7 is trusted by more than 3,900 organizations across 90 countries, including 30% of the Fortune 1000.
CallMiner Raises $12M
NewSpring Capital, a family of private equity funds, announced today that NewSpring Growth Capital (“NewSpring”), the firm’s dedicated technology and business services growth equity fund, led a preferred financing in CallMiner, Inc. (“CallMiner”) with a $12 million investment as part of a larger round which included existing investors. The proceeds from the transaction are being used to fund growth initiatives including sales and marketing.
Based in Waltham, MA and founded in 2002, CallMiner provides speech and interaction analytic solutions to clients across a variety of industries including financial services, utilities and energy, manufacturing, government, communications, fulfillment and performance, marketing and travel and hospitality. CallMiner specializes in improving contact center performance and gathering key business intelligence by automatically analyzing contacts across all communication channels.
“We believe CallMiner is the industry leader in speech analytics for contact centers with a ‘best in breed’ differentiated technology to provide customers with agent insights, analytics and compliance–all with speed, scalability and ease of use,” said Glenn Rieger, NewSpring General Partner and newly added Member of the CallMiner Board of Directors. “The Company is experiencing market tailwinds with traction building in sales productivity. When combined with the experienced management team, we have the right combination to execute on this investment opportunity.”
“NewSpring Capital is an ideal partner for CallMiner at this stage of our evolution,” said Terry Leahy, CallMiner President and CEO. “They have been very active in our space, have consistently followed the market as the adoption cycle has accelerated, and demonstrated keen insight into the dynamics of big customer data and interaction analytics. We are delighted to gain their support as CallMiner enters a new phase of strategic expansion and growth.”
CallMiner helps businesses and organizations improve contact center performance and gather key business intelligence by automating their ability to listen to every customer interaction. CallMiner’s market leading cloud-based voice of the customer analytics solution automatically analyzes contacts across all communication channels: calls, chat, email, and social. CallMiner offers both real-time monitoring and post-call analytics, delivering actionable insights to contact center staff, business analysts, and executives. The results include improved agent performance, sales, operational efficiency, customer experience, and regulatory compliance. With over 10 years of industry leadership and over 2 billion hours of conversations analyzed, CallMiner serves some of the world’s largest call centers, delivering highly effective, usable and scalable speech analytics solutions.
Scratch Announces $3.6M in Funding
Today, Scratch launched its invite-only service and announced $3.6 million in funding from Bessemer Venture Partners, NextView Ventures, Red Swan Ventures and Matt Salzberg, Founder and CEO of Blue Apron.
“We invested in Scratch because the endless selection presented by eCommerce today is a huge problem. Consumers only know exactly what they want a tiny fraction of the time, and the tools available to help filter and discover products are limited. We loved the completely different approach that scratch is taking by combining human curation and algorithmic personalization to provide a simple but incredibly powerful way to shop. Matt has faced this problem first hand within CustomMade, and has built a world-class early stage team with veterans from Tripadvisor, Wayfair, and Gemvara to tackle this massive opportunity.” - Rob Go, NextView Ventures... READ MORE
Tablelist Announces $2.5 Million in Funding
Per Dennis Keohane at Pando, Tablelist, who allows users to reserve VIP club experiences -- private tables, bottle service, and even access to prominent DJs, has announced $2.5 million in funding from a range of investors with experience in the hospitality and entertainment industry, and also from Wayne Chang, Twitter’s head of product marketing for its mobile platform. READ MORE
EMC Sells Syncplicity
Per TechCrunch, EMC has sold cloud sync and share product, Syncplicity, to private equity Firm.
When EMC bought cloud sync and share company, Syncplicity in 2012, it seemed the company was trying to change the way it does business, but three years later it’s selling out to private equity firm, Skyview Capital, perhaps ready to concede that a freemium cloud model doesn’t fit the company culture. READ MORE
ZeroTurnaround Secures $5M in Series B Financing
New Capital Fuels Global Hiring and Accelerates Development of Award-Winning Productivity Tools, JRebel and XRebel
BOSTON – July 7, 2015 – ZeroTurnaround, the maker of revolutionary developer tools for creating quality software nearly 20 percent faster, today announced that it has raised $5 million in Series B financing led by Bain Capital Ventures with participation from Western Technology Investment, both existing investors. This brings the total amount of funding since the company’s founding in 2007 to $15 million.
The company will use the capital to hire exceptional software development talent worldwide and continue to innovate its JRebel and XRebel products, used by more than 65,000 active customers in 80 countries. ZeroTurnaround will also expand its platform support with this new capital.
ZeroTurnaround’s award-winning developer productivity tools transformed how software is created, enabling development teams to build, inspect and error-proof software with considerably less downtime. JRebel, the company’s flagship product, enables developers to make changes to class structures and resource and framework configuration files without the need to restart or redeploy the application. The ability to immediately see code changes speeds the development process by an average of 17 percent, saving developers five full work weeks a year. With the addition of the lightweight Java profiler XRebel to the ZeroTurnaround product suite, developers can improve the quality of the code they write by finding and fixing issues along the way. Today, more than 4,000 enterprise teams and 36 of the Fortune 100 companies use products from ZeroTurnaround to bring quality software to market faster.
“Java is the programming language of choice for 9 million developers, and it drives many of the world’s business systems, as well as more than 7 billion devices,” said Ben Holzman, Managing Director and Co-Head of the software practice of Bain Capital Ventures. “ZeroTurnaround has built a tremendously successful business by solving some of the biggest challenges in the daily lives of developers. As the usage of Java continues to expand, ZeroTurnaround will continue to innovate and usher in the next 20 years of enterprise adoption.”
ZeroTurnaround’s commitment to the betterment of software development led to the recently announced integration with leading cloud infrastructure providers IBM, Red Hat, SAP and AWS to simplify development and testing in the cloud. In coming months, the ZeroTurnaround will bring the same productivity improvements and rapid feedback cycle to new platforms, including Android, making the testing of mobile applications a pleasure instead of a pain.
“We are passionate about taking away the frustrations and time draining activities that impede developer productivity and performance each and every day,” said Jevgeni Kabanov, Founder and CEO of ZeroTurnaround. “We want to be the undisputed market leader for end-to-end productivity, quality, performance enablement and management in the software development process. Our proven track record and support from investors like Bain Capital Ventures will ensure we reach our goals. ”
ZeroTurnaround makes revolutionary developer tools for creating quality software faster. With its award-winning JRebel and XRebel products, ZeroTurnaround is transforming how software is created, enabling development teams to build, inspect and error-proof quality software with considerably less downtime. Founded in 2007, today ZeroTurnaround’s technologies are used by more than 5,200 enterprise teams, including 36 of the Fortune 100, representing more than 65,000 active users in more than 80 countries. For more information, visit zeroturnaround.com or follow @zeroturnaround on Twitter.
About Bain Capital Ventures
Bain Capital Ventures (BCV) provides seed through growth capital for companies focused on technology and technology-enabled services primarily for enterprise customers. BCV invests across sectors including infrastructure software, application software, FinTech and healthcare. Select BCV investments include ABILITY Network, BloomReach, Docusign, Gainsight, Infusionsoft, Kiva Systems, Liazon, LinkedIn, Optimizely, Rapid7, SolarWinds, SurveyMonkey. TellApart and VMTurbo. As the venture capital affiliate of Bain Capital, a leading global alternative assets firm, BCV has partnered with more than 200 companies since 1984 to start, build, commercialize and grow their businesses. BCV has approximately $3 billion of assets under management and has offices in the Bay Area, New York City and Boston. Follow BCV at @BainCapVC
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Salsify Secures $16.6M in Series B Funding
Venrock, Matrix Partners and North Bridge invest in Omni-channel technology that transforms relationships between retailers and brand manufacturers
Boston, MA (July 6, 2015) —Salsify, the leading SaaS platform that powers the seamless creation and exchange of unique, rich product content between brand manufacturers and their retail partners for over four million products, today announced $16.6M in Series B funding, bringing Salsify’s total funding to date to $24.6M. The round is led by Venrock, and also includes existing investors, Matrix Partners and North Bridge, as well as Michael Skok. The funding will be used to further product development, invest in corporate growth and drive continued value with its customer base.
With Omni-channel commerce evolving to meet the needs of today’s discerning consumers, it is becoming more crucial than ever for retailers to offer the rich product content consumers demand when shopping online. Using Salsify’s SaaS platform, this detailed product information is easily created and delivered on an accelerated timeline, transforming it into a driver for increased product discoverability, revenues and ultimately, customer loyalty that will translate across all buying channels.
“With a roster of brands such as Newell Rubbermaid, 9 West Holdings and Bosch, as well as retail and technology partners like Walmart and Google, companies in the Salsify network can collaborate much more effectively to remain competitive in today’s e-commerce marketplace, simply by using rich product content to their advantage,” said Jason Purcell, co-founder and CEO of Salsify. “We are thrilled that Venrock, Matrix and North Bridge also see our vision for a digital supply chain, and are enabling us to continue transforming the way retailers and suppliers communicate and collaborate.”
“Having worked with the Salsify team at Endeca, I know they have the capacity to do amazing things and I look forward to working alongside the team to build another great company,” said Mike Tyrrell, partner at Venrock. “Salsify is changing the way retailers and suppliers share key information, dramatically improving data quality and transforming the consumer’s online shopping experience. They are going to have a meaningful impact on the marketplace.”
Based in Boston, Salsify is the leading SaaS platform that powers the seamless creation and exchange of rich product content from brands to retailers. Today, Salsify transforms product content management from an administrative burden into a driver of new revenue and amplified brand value for over four million products from top brand manufacturers. For more information, please visit: http://www.salsify.com and follow us on Twitter @salsify.
Originally established as the venture capital arm of the Rockefeller family in 1969, Venrock continues a tradition of partnering with entrepreneurs to establish successful, enduring companies. With a primary focus on technology and healthcare, portfolio companies have included Adify, Apple Computer, Athenahealth, Centocor, Check Point Software, DoubleClick, Endeca, Gilead Sciences, Idec Pharma, Imperva, Illumina, Intel, Millennium Pharma, SlideShare and Tudou. For more information, please visit Venrock’s website at http://www.venrock.com and follow the firm on Twitter at @venrock. About Matrix Partners Matrix Partners backs bold entrepreneurs who have the vision and unstoppable drive to make a difference in the world. We combine our knowledge with a personal approach to help start-ups do more, be better, and achieve greater success. From our beginnings with Apple, Sycamore Networks and Veritas, to recent investments in Oculus VR, Zendesk, Hubspot, JustFab, Namely, Meteor and more, we've earned the trust of each founder we've supported. Find us in Palo Alto, Cambridge, Shanghai, Beijing, and Mumbai, at matrixpartners.com or @MatrixPartners.
About North Bridge
North Bridge actively partners with founders and entrepreneurs of market-leading companies, who are using technology to disrupt and reinvent big markets. With $3.8 billion of capital under management, the firm has funded more than 170 companies creating tens of billions in market value. Recent investments include Acquia, Actifio, Dyn, Demandware, Onshape, Proto Labs, Quora and Starent Networks. The firm has offices in Waltham, MA and Palo Alto, CA.
To learn more about North Bridge go to www.northbridge.com and follow the firm @North_Bridge.
About Michael Skok
Michael is a serial entrepreneur and investor with more than three decades of experience. As a VC, he initiated ventures with innovators, as well as seeded and invested in many great entrepreneurs who went on to build billions of dollars of value focusing on large market opportunities such as eCommerce, and Big Data. Michael focuses on game changing technologies such as Machine Learning and disruptive business models such as Open Source and platform shifts such as Cloud computing and Mobile. He is also an active mentor and teacher. He created and facilitates the Startup Secrets course at Harvard iLab. The course teaches practical tools, frameworks and real practical examples that empower entrepreneurs. Some of Michael’s work in this regard can be found online at www.startupsecrets.com. Follow him on Twitter @mjskok.
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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.