BoardOnTrack Closes $1.7 Million Funding Round
Per Scott Kirsner at BetaBoston, Concord, MA based BoardOnTrack, a SaaS company that supports Charter Schools with the most cost-effective, efficient, and convenient way to build a better board, has closed a $1.7 Million Funding Round. READ MORE
Ministry Of Supply Raises $1.5 Million
Per Sara Castellanos at Boston Business Journal, Ministry Of Supply, makers of High-tech performance professional clothing for men, has raised $1.5 million in new funding.
Total funding to date for the company is now more than $6 million.
Investors in the round are undisclosed. READ MORE
Bit9 acqui-hires Objective Logistics
As reported by Dan Primack at Fortune, Bit9 acqui-hires Objective Logistics.
Privately-held cybersecurity company Bit9 has quietly acquired Objective Logistics, a Boston-based maker of restaurant management software, Fortune has learned.
The deal is effectively an aqui-hire, with around a dozen Objective Logistics employees joining Bit9. Not moving over, however is Objective Logistics founder and CEO, who says he’s Philip Beauregard “retired until further notice.” READ MORE
Comverse to Acquire Acision
Combined Entity Will Incorporate Best-of-breed Complementary Products and Technologies to Drive Increased Global Footprint, Market Leadership in Messaging and Digital Services
WAKEFIELD, Mass., June 15, 2015 – Comverse, Inc. (Nasdaq: CNSI), a global leader in digital services, today announced that it has entered into a definitive agreement to acquire Acision, a privately-held leader in secure mobile messaging and engagement services, based in Reading, United Kingdom. Comverse will acquire Acision for a purchase price consisting of approximately $135 million in cash, 3.13 million shares of Comverse’s common stock, and potential earnout payments of up to $35 million. In addition, Comverse will seek to maintain Acision’s existing $157 million senior credit facility following completion of the transaction. The Boards of Directors of Comverse and Acision have approved the transaction, which, subject to satisfying closing conditions, is expected to be complete by the end of the third calendar quarter. Following completion of the transaction, the new company will be led by a team comprised of executives from both organizations under the leadership of Comverse CEO Philippe Tartavull and the company will remain headquartered in Wakefield, Massachusetts, USA.
Enabling Today’s Digital Services
In addition to offering market-leading Cloud Multi-VAS and IP messaging solutions, the combined company will provide Service Providers, Over the Top (OTT), and Enterprise customers with a wide array of fast-growing mobile monetization, enterprise messaging and digital services in high growth segments. Comverse helps Communication Service Providers (CSPs) transition to Digital Service Providers (DSPs) and gain competitive advantage through a portfolio of solutions that help them monetize the coming “fourth wave” of digital services. The combined company’s expanded portfolio will extend into new digital application areas including data analytics, secure enterprise application-toperson (A2P) messaging, credit orchestration, two-factor authentication, and Machineto-Machine (M2M) communication as well as Rich Communication Services (RCS), WebRTC, and APIs for rapid service creation.
“Continued consolidation in the Service Provider space creates the need for strong suppliers,” said Philippe Tartavull, President and Chief Executive Officer, Comverse. “Our acquisition of Acision underscores Comverse’s commitment to quickly building scale and market leadership in the fast-growing digital services sector. This acquisition creates a formidable platform for innovation that is expected to serve our customers’ current and evolving needs. Acision brings a diverse portfolio of mobile monetization and rich enterprise messaging solutions complementing Comverse’s market leading digital services platform. The combined portfolio will allow us to enable our service provider and enterprise customers to deliver and monetize a new array of advanced digital services to their customers.”
“Today’s acquisition is in line with our growth strategy to broaden our reach and capabilities, and brings two leading companies together to deliver the very latest monetizable, rich communication services for mobile operators and enterprises worldwide,” said Didier Bench, Executive Chairman at Acision. “The two companies are well aligned in their respective visions and strategies, yet were operating in largely complementary markets. We believe that joining forces is in the best interests of both our customers and our employees, and our commitment to them and the products we provide will remain our highest priority. By combining our resources, we can provide our customers and partners with access to an extended portfolio of digital products and services, with high quality innovation as well as the best in class knowledge and expertise.”
“The combination of Acision and Comverse creates a market leader in the high growth digital services segment,” commented Jorg Mohaupt, Head of TMT at Access Industries, majority shareholder of Acision. “We are excited about the potential of this acquisition and the resulting value creation for our shareholders.”
Acision connects the world by powering relevant, seamless mobile engagement services that interoperate across IP platforms and enrich the user experience creating value and new communication opportunities for carriers, enterprises and consumers across the world. For more information, visit Acision at http://www.acision.com
Comverse empowers people to engage with each other, services, and things as part of their multi-device, digital lifestyle. We help service providers and enterprises deliver and monetize innovative digital experiences through an award-winning portfolio of cloud-based software solutions, backed by expert services. You can find us at www.comverse.com.
This press release includes “forward-looking statements.” Forward-looking statements include financial projections, statements of plans and objectives for future operations, statements of future economic performance, and statements of assumptions relating thereto. In some cases, forward-looking statements can be identified by the use of terminology such as “may,” “expects,” “plans,” “anticipates,” “estimates,” “believes,” “potential,” “projects,” “forecasts,” “intends,” or the negative thereof or other comparable terminology. These forward-looking statements include statements regarding benefits of the proposed transaction, including future financial and operating results, expected capitalization at the closing of the transaction, expected synergies and anticipated future financial operating performance, our and Acision’s plans, objectives, expectations and intentions and the expected timing of completion of the transaction. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results, performance and the timing of events to differ materially from those anticipated, expressed or implied by the forward-looking statements in this press release. Such risks or uncertainties may give rise to future claims and increase exposure to contingent liabilities. These risks and uncertainties relate to (among other factors) the market price of our stock, operating expenses and cash flows, variability of our tax provision, and the additional risks described in the sections entitled “Forward-Looking Statements” and Item 1A, “Risk Factors” and elsewhere in the company's Annual Report on Form 10-K, or in subsequently filed periodic, current or other reports. In addition to the risks and uncertainties set forth in our SEC filings, the forward-looking statements described in this press release could be affected by the following, among other things, (i) conditions to the closing of the transaction may not be satisfied; (ii) problems may arise in successfully integrating the Acision business into our current business, which may result in our not operating as effectively and efficiently as expected; (iii) we may be unable to achieve expected synergies or it may take longer than expected to achieve such synergies; (iv) the transaction may involve unexpected costs or unexpected liabilities; (v) our business may suffer as a result of uncertainty surrounding the transaction; (vi) our industry may be subject to future regulatory or legislative actions that could adversely affect us; and (vii) we may be adversely affected by other economic, business, and/or competitive factors. We undertake no commitment to update or revise any forward-looking statements except as required by law.
These risks and uncertainties discussed above, as well as others, are discussed in greater detail in our filings with the SEC. The documents and reports we file with the SEC are available through us, or our website, www.comverse.com, or through the SEC's Electronic Data Gathering, Analysis, and Retrieval system (EDGAR) at www.sec.gov. READ MORE
Rapid7 files for $80 million IPO
Per Fortune, Security firm Rapid7 has filed for $80 million IPO
As the security space heats up, another hot cyber firm has announced that it will go public.
Rapid7, a Boston, Mass.-based cybersecurity company, has filed for an $80 million IPO.
READ MORE from Fortune
Yesware Raises $13.3 Million
Foundry Group led the round, with Battery Ventures, Google Ventures, Golden Venture Partners and IDG Ventures participating.
From Yesware CEO, Mathew Bellows:
Five years ago today, I was the VP of Sales at a venture-backed startup. I hadn’t yet been fired for applying for my CEO’s job. I hadn’t called Cashman to pitch “Software for Salespeople.” I certainly hadn’t made up the word “Yesware” five years ago.
Five years ago I felt pain, and I smelled opportunity. The pain I felt was from salespeople struggling to make their number, close that last deal, make club, and reach their goals. I’d stood before boards of directors defending my team’s quarterly pipeline—riddled with uncertainty and imprecision. The board knew it, and they knew that I knew it, but none of us at the time knew why.
The opportunity that I smelled was to start a virtuous circle.
If, by bringing the power of software to salespeople at every level of an organization, we could genuinely help our customers be more successful, our customers would earn more money. If they earned more money, they’d be able to buy more of our products. Since there are a lot of salespeople in the world, it smelled like the chance to build a real company.
Happily and luckily, when I shared my vision with my former business partner Cashman Andrus, he said, “I can build that” and we embarked on the best adventure of our careers. Just over four years ago, we brought in our first investors, threw away our prototype, recruited a few of the best engineers on the planet, and released our first version of Yesware for Gmail.
Looking back at our first funding round, I’m struck by how unrealistic our revenue projections were. How did I not get laughed out of every room I walked into?
But really the way it worked for us is the way it works for most startup people…
You talk with enough people, and make enough sense or don’t seem too crazy, that some of them smell the same opportunity that you do. After meeting with and pitching 45 angels, super angels, micro and macro VCs, and other associated people, we connected with Rich Miner from Google Ventures, Brad Feld from Foundry Group, and Matt Golden from Golden Venture Partners.
In our A Round we welcomed Pat Kineally from IDG Ventures to the team. In our B Round, we welcomed Neeraj Agrawal from Battery Ventures. And since that delusional business plan, we’ve built the foundations of a great company.
We have served almost 700,000 salespeople across the globe. We offer Yesware for Google Apps, Outlook and iOS. We are deeply integrated into the sales process at some of the fastest growing software companies in the world. We’ve built an incredible team and culture.
But there is so much more to do. I’m so proud of what we’ve done so far, and it’s gratifying to see so many of our initial ideas in the hands of our customers, and we’re only just getting started.
In order to accelerate our growth, I’m honored to announce that we’ve raised an additional $13.3 million.
Foundry Group led the round, with Battery Ventures, Google Ventures, Golden Venture Partners and IDG Ventures participating.
I am incredibly fortunate to have the opportunity to create my dream job. I’m grateful to our customers, our prospects, and the companies that turned us down but told us why. I’m forever grateful to our investors. I’m even grateful to the investors who turned us down but told us, honestly, why.
But mostly, I’m grateful to the smart, strange, wonderful people who work at Yesware. They give everything of themselves to bring our software to you. They push through personal struggles. They stretch themselves. The people who work here are, in the words of our first Yesware value, “Brave, Ambitious and Resilient.”
Thank you all for getting us this far. I’m so excited to see what our next stage of growth will bring. If you want to let me know your thoughts, please email me at matthew [at] yesware.com. Thanks. More to come.
Podium Data Announces Funding
PODIUM DATA ANNOUNCES INITIAL FUNDING
Funds to Fuel Growth of Big Data Platform that is Redefining
Enterprise Data Management
LOWELL, Mass. – June 3, 2015 – Podium Data, provider of a practical, big data platform that accelerates access to critical business data, announced today that it has secured initial financing, led by CommonAngels Ventures. The initial round of financing will fuel company growth and advance early marketplace adoption of the Podium enterprise data management platform, released in August 2014.
Podium Data gained early traction among target customers by addressing a persistent and growing challenge faced by today’s enterprises: fundamental business data is not readily available for decision making. Business leaders are increasing the pressure on IT, requesting self-service access to more data sources, as well as faster consolidation and integration of critical information.
The Podium platform extends the power of big data technologies, delivering the first data lake platform with business ready data. Business users get access to the data they need in a secure, self-service environment with insights continuously captured. With Podium, businesses dramatically reduce their time to answer, enabling informed decision making, agile innovation, improved customer experience and, ultimately, competitive advantage.
Growing demand for a cost-effective data management solution that captures value from vast stores of information is evidenced by the number of customers in the financial services, insurance, healthcare and retail sectors committing to multi-year Podium subscriptions.
“With Podium, we finally have access to essential data we can trust. Podium provides self-service access to all of our data, and has enabled our team of analysts and data scientists to dramatically accelerate analysis and business insights. Podium was installed with data ready for use in 90 days, and began to immediately deliver ROI to our business.”
-Top 20 Pharmaceutical customer
Much of Podium Data’s early success is attributed to its strong leadership team, which is led by visionary founders Paul Barth (CEO) and Steve Richards (COO), and comprised of recognized thought leaders and hands-on experts in big data technologies, data management and business intelligence. With decades of IT experience, the other founding team members —technologists Atif Majid, Michael Howard and Bob Vecchione—inherently understand and can innovatively address the most pressing issues faced by today’s business and IT leaders.
Podium Data will leverage the CommonAngels-led funding to build on its accomplishments of the past year, expand the company’s reach in target markets, and continue to deliver on its mission to help commercial enterprises and government organizations optimize the value of critical data assets.
“Podium Data significantly and cost-effectively advances the ability to make complex business data immediately useful to organizations. CEO Paul Barth is a well-regarded thought leader in big data and a successful serial entrepreneur. CommonAngels Ventures is thrilled to partner with him and the other co-founders in this new enterprise.”
--James Geshwiler, Managing Director, CommonAngels Ventures
About Podium Data
Podium Data is redefining the enterprise data management landscape. The company’s practical high-performance Podium platform continuously captures and integrates data from disparate sources. IT elevates its value contribution by unleashing data to business users who can now access and leverage information on demand. Podium’s proven big data technologies help organizations in all industry sectors optimize the value of their information assets by making trusted business data readily available to stakeholders across the enterprise. Visit http://www.podiumdata.com to learn about how Podium accelerates access to fundamental data, driving the analytics and insights required for dramatic impact.
LogMeIn Acquires Zamurai
BOSTON, June 4, 2015 (GLOBE NEWSWIRE) -- LogMeIn, Inc. (Nasdaq:LOGM), the company behind the popular join.me meeting and collaboration app, today disclosed the acquisition of San Francisco-based Zamurai Corporation, a pioneer in mobile collaboration and whiteboarding. Zamurai's highly acclaimed mobile whiteboard has been integrated into join.me as part of a new mobile push and major refresh of join.me's iPhone, iPad and Apple Watch apps. It will now be offered exclusively via join.me.
The deal, which closed in late 2014, was LogMeIn's second recent acquisition of a San Francisco start-up. The entire Zamurai team is staying on as a part of the transaction, with the co-founders taking leadership roles on join.me's marketing and product organizations.
Founded in 2013, Zamurai builds mobile-first real-time visual collaboration solutions to help professionals capture and share their ideas and conversations. The company's mobile whiteboarding app was featured as a Best New Productivity App in the App Store. The Zamurai Mobile Whiteboard re-approached the whiteboard experience for mobile including a powerful library of images, lines, shapes with a state of the art drawing tool all on an infinite canvas.
"Mobile innovation is a key focus for join.me. And we believe that a true mobile-first approach means embracing the unique benefits of mobile to boost collaboration, as opposed to trying to duplicate desktop or in-person experiences on a mobile device," said Bill Wagner, president and COO of LogMeIn, makers of join.me. "With the acquisition of Zamurai team, we gain both a team and product that can help us rapidly accelerate join.me's mobile-first innovation – innovation aimed squarely at addressing the new realities of today's inherently mobile workforce."
Zamurai was named a "Hot Vendor in Content Authoring and Collaboration, 2014" by Aragon Research and earned several industry accolades, including being a Best App Finalist (two categories Collaboration and Productivity) in the Tabby Awards; Best Business App Finalist in the Appy Awards; and a NetworkWorld 'Top 20 Productivity App' in 2014, among others.
"Both join.me and Zamurai recognize that how people work has changed. We meet and collaborate in real time and more often than not, we interact online. And we were both passionate about the simplicity of the experience for our customers," said Michael Parker, CEO and co-founder of Zamurai, now VP of Marketing for join.me. "The fact is Zamurai was actually a join.me customer. We used it everyday, so it was obvious how complementary we were together."
- join.me iOS announcement (featuring integration of Zamurai): http://joinm.ee/6003hGdX
- Note to Zamurai customers (from the Zamurai blog): http://zamurai.com/news/
- Related art work and images: http://joinm.ee/6008hJGM
- Link to new join.me iOS app
Zamurai is building the mobile-first real time visual collaboration solution for today's business letting professionals capture and share their ideas and conversations on any device – phone, tablet, or desktop. Founded in 2013, Zamurai's mission is to enable businesses to capture ideas and discussions so they can be accessed anywhere, anytime. For more information, visit http://zamurai.com.
About LogMeIn, Inc.
LogMeIn, Inc. (Nasdaq:LOGM) simplifies how people connect to each other and the world around them. With millions of users worldwide, our cloud-based solutions make it possible for people and companies to connect and engage with their workplace, colleagues, customers and products anywhere, anytime. LogMeIn is headquartered in Boston with offices in Bangalore, Budapest, Dublin, London, San Francisco and Sydney. READ MORE
* Learn more about LogMeIn on our VentureFizz BIZZpage - We're HIRING!
VS2 Secures $2 Million in Seed Financing
VS2 Secures $2 Million in Seed Financing to Complete
Development of an Inherently Secure Computing Architecture
WALTHAM, Mass. – June 3, 2015 – Cybersecurity start-up Virtual Software Systems (VS2), announced today that it has closed a $2 million round of seed funding from Bulldog Investors, Sequel Capital Management, and a number of private investors to accelerate the development of a new, inherently secure computing architecture. With this investment, VS2 will hire additional engineering talent and develop partnerships to bring its solution to market later this year.
“VS2 has the potential to make computers orders of magnitude more secure – without actually changing the underlying systems in place today,” said George Hazlett at Bulldog Investors. “Given the team’s pioneering work in computer science, they are among only a handful of system-design architects in the world who could possibly conceive of and create such a novel innovation.”
VS2’s engineering team, led by CTO Richard Fiorentino, co-founder of Marathon Technologies and a pioneer in modern, fault-tolerant computing architectures, undertook the challenge of rethinking security at the most basic level of computing – application execution. The company’s solution couples the economics of virtualization with an entirely new systems approach to create a software-defined computing architecture that automatically rejects erroneous behavior caused by exploits, bugs or failures.
“We’ve been working quietly over the last two years, challenging our team to rethink the very fundamentals of computing,” said John Conway, CEO of VS2. “Until recently, our innovation would have been inconceivable. But advances in virtualization, combined with the unique perspective and expertise of our senior team, have enabled us not only to break new ground in cybersecurity, but in computer science as well.”
VS2 developed its approach to address the fundamental lack of security in today’s computers and networks. Current systems were designed to meet a demand for computing power, speed and efficiency, not security. Rather than trying to correct this through so-called “clean sheet” (forklift replacement) or hybrid hardware/software methodologies, solutions that are both costly and impractical, VS2’s software-only innovation allows legacy applications to run using existing systems with an exceptional degree of security. It is adaptable to virtually any platform, from servers to end points to the Internet of things (IoT).
The VS2 founding team holds more than a dozen computer design patents and is responsible for many foundational technologies that support today’s complex computer and network infrastructures.
About Virtual Software Systems, Inc.
Virtual Software Systems (VS2) is a cybersecurity venture focused on transforming the reliability and security of enterprise applications and data. With a team responsible for numerous computer industry innovations, VS2 has developed technology that provides a new system-level approach to security that fundamentally changes the vulnerability of computers to attack.
Based in Waltham, Mass., the company is privately funded.
Please visit VS2 on the Web at www.vs-2.com
Nantero Closes $30M+ Series E Round
Nantero, the world leader in carbon nanotube electronics, today announced it has closed a $31.5 million Series E financing round, which included new investors and participation from existing investors Charles River Ventures, Draper Fisher Jurvetson, GlobespanCapital Partners, and Harris & Harris Group. This substantially oversubscribed round highlights Nantero’s ongoing success in delivering a new generation of super-fast, ultra-high density memorycalled NRAM® (non-volatile random access memory) that can enable a variety of exciting new features and products in both consumer and enterprise electronics.
Signaling a new era in memory, Nantero’s NRAM has already been installed in multiple production fabs and is currently being designed into innovative new electronic products that require increased storage, low power consumption, high speed, reliability, and high endurance. The company intends to use its new funding to continue the acceleration of NRAM as the leading next–generation memory for both storage class memory and as a replacement for flash and DRAM.
“With Nantero’s NRAM, the wait for a new generation of super-fast, high-density non-volatile memoryis over,” said Greg Schmergel, Co-Founder, President and CEO of Nantero, Inc. “Our technology is already under development today in multiple world-class manufacturing facilities and we have more than a dozen major corporate partners actively working on NRAM. We are excited to begin the next phase of commercialization which will bring Nantero’s NRAM into volume production and change the course of electronics innovation for decades to come. READ MORE
CounterTack Announces $15M Series C Round of Financing
Growth Round Led by TenEleven Ventures to Fuel Company’s Aggressive Go-to-Market Strategy and Global Expansion to Meet Enterprise Demand for Next-Generation Endpoint Security
WALTHAM, Mass. (June 2, 2015) – CounterTack, the leader in Big Data Endpoint Detection and Response (EDR), today announced it has closed a $15 million Series C round of funding, led by TenEleven Ventures, with other new investors in the round including EDBI (the corporate investment arm of the Singapore Economic Development Board) and Mitsui, along with the participation of existing investors.
The funding will help CounterTack support its accelerated go-to-market strategy, further its global expansion initiatives and deliver truly scalable next-generation endpoint detection and response (EDR) technology to its growing portfolio of enterprise customers. CounterTack is the one EDR provider truly delivering unprecedented endpoint detection, forensic analysis, threat visualization and real-time response capabilities to the enterprise and the SMB market through strategic MSSP partnerships.
“With cybersecurity innovation at an all-time high, CounterTack is leading by integrating high-powered Big Data technology with security telemetry to produce actionable data to help respond to the enterprise-level threats where SQL-based solutions simply can’t scale,” said Alex Doll, Founder, and Managing General Partner, TenEleven Ventures. “CounterTack provides a new level of visibility, context and control to enterprise teams who need to protect their most valuable data, along with powerful threat correlation and automated response capabilities, to counter sophisticated, unknown endpoint threats at-scale, across the enterprise. We’re thrilled to participate in this fundraise to foster continued growth to meet EDR market demand.”
"Traditional threat detection and prevention approaches are ineffective to the attacks we see against endpoints and users today and even perimeter defenses labeled as ‘advanced’ can be evaded by attackers,” says Adrian Sanabria, Senior Security Analyst, 451 Research. “Today’s enterprises must be able to detect and rapidly respond to threats that have made it past these defenses, onto the endpoint. This approach must be able to cut through the typical security alert ‘static’ to give analysts accurate intelligence about threats across the entire enterprise, in real time."
“The rapid digitization of economies poses cybersecurity challenges to businesses globally,” said Chu Swee Yeok, CEO and President, EDBI. “The presence of leading cybersecurity companies such as CounterTack in Singapore, with its unique endpoint threat detection and response solutions, will help strengthen business resilience against rising cyber attacks. We look forward to realizing CounterTack’s Asian growth plans through our extensive network in the region.”
Key Growth Milestones:
- CounterTack reported 300% YoY Q1 growth from 2014 to 2015 at the RSA Conference North America in April 2015.
- The company was named to the JMP Securities Fast 50 list of hottest privately held security and networking companies.
- CounterTack is a 2014 Gartner Cool Vendor, recognized for innovation in the Endpoint Security market. (May 2014) CounterTack’s CEO Neal Creighton will participate in the ‘Top Market Trends in the Endpoint Detection and Response Market’ panel at the Gartner Security & Risk Management Summit, June 8, 2015 from 10:00 am – 10:45 am EST at the Gaylord Resort, National Harbor, MD.
TenEleven Ventures, EDBI and Mitsui join CounterTack's current investors including Goldman Sachs, Fairhaven Capital, Siemens Venture Partners, Razor's Edge, OnPoint Technologies (investment fund of U.S. Army) and Alcatel-Lucent.
CounterTack is the leading provider of real-time, Big Data endpoint detection and response technology for the enterprise. CounterTack's Sentinel platform provides unprecedented visibility and context around endpoint behavior to targeted, persistent threats to improve incident response and threat detection, enterprise-wide.
Built on Big Data architecture to counter endpoint threats at-scale and leveraging tamper-resistant collection for pure behavioral capture on enterprise endpoints, (laptops, servers, workstations, mobile devices) Sentinel dramatically reduces the impact of advanced attacks in real-time, giving teams an opportunity to defend the enterprise before incidents escalate.
To learn more, please visit: http://www.countertack.com.
Nina Gill and LeeAnn Hovanasian
Raizlabs Acquires Find & Form
We are excited to announce that we’ve completed the acquisition of Find & Form, a Boston-based mobile app design and development agency. Find & Form’s clients included the popular wine app Drync, Boston startup Shuttersong, and a startup called The Collective which was founded by the CEO of StumbleUpon. We’ve been working with Find & Form over the last few months on a number of projects and we felt that the partnership could be extended and deepened through a strategic acquisition.
Both Raizlabs and Find & Form share a passion for excellence in digital products and mobile technology. The partners of Find & Form represent the core pillars of Raizlabs’ values. We believe that these elements are core to building and engineering great products: Mobile Strategy, Product Design, and Software Development. These elements have been central to both companies’ successes, and will continue to be central to our joint ability to create and build great digital products in the future. READ MORE
CarePort Health Closes $3.8M
CarePort Health Closes $3.8M to Improve Post-Hospital Care
Boston, MA, June 1, 2015
Careport Health, the leading innovator in post-acute outcomes management, has closed on a $3.8M financing to accelerate growth. Founded by Dr. Lissy Hu, a Harvard Medical School and Harvard Business School alumna, who witnessed first hand the challenges of finding post-hospital care, Careport now supports health systems and hundreds of post-acute providers across the US.
This round is led by Baseline Ventures, with participation from CommonAngels Ventures, Excelerate Health Ventures, Generator Ventures, Launch Capital, 500 Startups and Andy Palmer. Prior investors in the company include Boston Seed, TechStars and a variety of technology leaders.
“Imagine my surprise when I saw that even at the most advanced hospitals, patients relied on paper lists to find post-hospital care.” Hu said. “Frankly I had more information about a hotel a thousand miles away than the nursing home down the street. I saw how much patients were struggling, so I started CarePort to eliminate the information gap and ensure every patient receives the best post-hospital care.”
40% of Medicare patients need post-acute care after being discharged from the hospital. Yet the process of finding an appropriate skilled nursing facility or home health agency can be fraught with challenges for patients. The technology for finding post-hospital care has not evolved much beyond a paper list. Hospitals provide patients in need of rehabilitation services a list with names, phone numbers, and addresses of providers. This opaque process can be equally frustrating for hospital staff. “As a case manager, you know the quality of facilities varies as well as their ability to effectively manage the patient’s recovery needs. But Medicare regulations say that you can’t recommend one place over another, so patients are truly on their own,” said Bonnie Geld, Vice President of the Center for Case Management.
CarePort collects and analyzes data from hundreds of post-acute care organizations to identify providers that match a patient’s unique clinical needs and preferences. Higher quality providers, such as those with low readmission rates, are presented to patients in an easy-to-understand and engaging format. Patients at Massachusetts General Hospital who use CarePort to help find rehab after an elective joint replacement procedure like “being able to take virtual tours of selected places, getting places within a certain distance, and the facility ratings.” Geld believes, “CarePort is the first truly patient-centered discharge planning tool.”
For hospitals, ensuring that patients receive high quality post-acute care has become a high priority issue with the continued transformation to value-based payment systems, including readmission penalties, bundled payment programs, and accountable care organizations. “We get penalized when patients come back to the hospital. It’s bad for us. It’s bad for patients,” explains Joel Vengco, CIO at Baystate Health. “CarePort helps us find high-quality post-acute care for our patients. When a Baystate patient leaves the hospital, they are in good hands.”
Increasingly hospitals are developing collaborative relationships with post-acute providers to ensure their patients receive high value care across the continuum. The Cleveland Clinic’s Center for Connected Care is engaged in quality improvement initiatives with nine skilled nursing facilities. Patients who recover at Connected Care facilities experience a lower likelihood of returning to the hospital for any condition within thirty days. According to Dr. Eiran Gorodeski, the Center’s leader, “Using CarePort, we are giving patients all the information they need to make an informed decision that best suits their needs and preferences.” After implementing CarePort, a greater number of patients are choosing skilled nursing facilities with lower readmission rates.
“CarePort’s solutions facilitate better post-acute decision-making leading to improved healthcare value. The ability to analyze and share relevant healthcare information with patients, their caregivers and collaborating providers in an easy-to-use format is critical to delivering a truly patient-centric care experience during care transitions ” said Joe O’Connor, a CommonAngels Venture Partner, healthcare entrepreneur, and co-founder of healthcare analytics and bundled payments companies.
With the new capital, CarePort will extend its platform capabilities to provide valuable information for providers to collaborate in the management of patients in post-acute settings. Hu explains, “The first step in the journey starts at the hospital, where we help patients and their caregivers find and select the best post-acute provider. Next, we provide the ability to monitor a patient’s recovery and make sure they are receiving the appropriate care.” CarePort’s platform tracks a patient’s recovery course in real time across post-acute settings and relays key information to the patient’s care team. CarePort breaks down information silos and exposes objective outcomes data in a timely fashion so that providers across the care continuum can work together to improve post-acute care in a patient-centered manner. “CarePort is bringing transparency into post-acute care so that we can raise the bar for all providers,” Hu explains. “We want patients to receive the best post-acute care no matter where they go.”
Databox raised $3.7M in funding
Per SEC filing, Databox raised $3.7M in funding. READ MORE
lifeIMAGE Announced a $17.5 Million Round of Financing
lifeIMAGE announced today that it has closed a $17.5 million round of financing led by Cambia Health Solutions (Portland, Ore.), a nonprofit total health solutions company dedicated to transforming health care by creating a person-focused and economically sustainable system. lifeIMAGE, the nation’s largest and most utilized network for exchanging medical imaging, will use this financing to expand resources for its growing customer base, increase the breadth of its network capabilities and implement the next phases of its go-to-market strategy.
Cambia and lifeIMAGE share a common goal: improving the quality of care while lowering its cost. Lack of access to imaging exams is the primary cause of unnecessary, duplicative procedures that delay care, frustrate clinicians and patients, and cost the country’s health system about $30 billion each year. lifeIMAGE helps providers improve care coordination for patient consultations, referrals and transfers by making medical imaging exams from unaffiliated hospitals, physicians and patients accessible worldwide. It interoperates with the electronic medical record systems from Cerner Corporation and Epic Systems Corporation to ensure every member of a patient’s care team has fast, electronic access to a complete imaging history. READ MORE
Dockwa Raises $1.1M
Dockwa, a mobile app company providing seamless reservations to boaters and the marine industry, announced today that it had raised $1.1 million in additional seed funding. Investors include David Skok of Matrix Partners, HubSpot's CEO Brian Halligan and CMO Mike Volpe, Driftt's CTO Elias Torres, and several private investors. The new capital will fuel expansion of the platform, as well as growth of the Dockwa team.
“With over seventy marinas in the major ports of New England, Dockwa is fast becoming the OpenTable for the marine industry, demonstrating an incredible customer experience, valued inventory, and convenience,” said Mike Melillo, founder and CEO of Dockwa. “We remain focused on building a singular customer experience. The additional funding is a testament to Dockwa’s growth potential, and I couldn’t be more excited about our team, product, and trajectory.” READ MORE
Virgin Pulse Closes $92 Million Investment
Virgin Pulse, the habits focused well-being company, today announced additional funding of $92 million. This latest round of investment will be used to further accelerate the company’s impressive growth and customer success. The round was led by Insight Venture Partners and included participation from existing investor, Virgin Group. As part of the transaction, Nikitas Koutoupes, managing director, and Anika Agarwal, vice president at Insight Venture Partners, will join Virgin Pulse’s Board of Directors.
The investment follows the recent launch of Virgin Pulse’s next generation workforce well-being platform that enables enterprise clients to increase employee engagement and productivity, build culture, and decrease healthcare costs by providing employees with tools that help them form habits that matter. For nearly a decade, Virgin Pulse has built on its consumer-focused roots to create products that drive hundreds of millions of habit-building interactions that encourage behavioral changes. The company has revolutionized how businesses create healthier, more productive workforces while also building great places to work. READ MORE
EMC To Acquire Virtustream
EMC Corporation (NYSE: EMC) today announced it has entered into a definitive agreement to acquire privately-held Virtustream. When the transaction closes, Virtustream will form EMC’s new managed cloud services business. The acquisition represents a transformational element of EMC’s strategy to help customers move all applications to cloud-based IT environments. With the addition of Virtustream, EMC completes the industry’s most comprehensive hybrid cloud portfolio to support all applications, all workloads and all cloud models.
Virtustream CEO Rodney Rogers will report to Joe Tucci, EMC Chairman and CEO.
“Virtustream is an exceptional company and this is a critical and transformative acquisition for EMC in one of the industry’s fastest-growing and most important sectors,” said Joe Tucci. “With Virtustream in place, EMC will be uniquely positioned as a single source for our customers’ entire hybrid cloud infrastructure and services needs. We could not be more delighted that Virtustream will be joining the EMC Federation family. It’s a game changer.” READ MORE
Draper Nexus Invests in CyPhy Works
CyPhy Works, a leading drone company and developer of advanced unmanned aerial vehicles (UAVs), today announced Draper Nexus as a key new investor in the MA-based company.
The addition of this premier value-added investor with its unmatched international networks will help CyPhy Works to rapidly further its commercialization plans in the US and abroad. The funds will support hiring in the areas of data management & analytics, commercial partnerships, product management and mechatronics. READ MORE
Weathermob Joins Weathernews Inc.
Weathermob is just delighted to announce that we have joined Weathernews Inc., www.weathernews.com/, a large Japanese weather company already committed to the power of crowdsourced weather reporting; the power of people reporting, the potential and poetry!
Our forecast, together, is sunnier!
We remain committed to keeping the same warm and welcoming weather community and creating better, safer weather data, as we grow into this new global partnership. READ MORE
MOO Raises $5M in Funding
Moo received $5 million in series A funding in April from The Accelerator Group, Atlas and Index Ventures. The nine person company was founded by Richard Moross of London...READ MORE
Black Duck Software Raises $5M
Black Duck Software, the leading OSS Logistics solutions provider enabling the secure management of open source code, today announced it closed Q1 2015 30 percent above plan. The company attributes this success to efforts that have continued momentum in making open source adoption more secure, compliant, and efficient. Black Duck has welcomed several new hires, secured $5 million in additional funding from strategic investor the Venture Capital Unit of Siemens, and added former Avid Technology CEO and Venture Capitalist Daniel Keshian to its Board of Directors.
The company recently strengthened its customer success team with the appointment of Dean Vassiliou, Vice President Customer Success Management. Vassiliou is an experienced enterprise software professional with extensive delivery, support, and account management experience. Prior to Black Duck, Vassiliou led the professional services organization at Healthedge. Vassiliou also built and managed global professional services and client services organizations for start-ups including Lodestar Corporation, prior to its sale to Oracle and Salary.com, where he served on the IPO management team. Vassiliou’s hire comes on the heels of Black Duck adding strategic security expert Michael Pittenger (Co-founder of Veracode) to the company as Vice President of Product Strategy. READ MORE
Predilytics Acquired by Welltok
Welltok today announced the acquisition of leading healthcare predictive analytics company, Predilytics. The acquisition adds another powerful layer of consumer intelligence and analytical capabilities to Welltok's CafeWell Health Optimization Platform, providing even more personalized guidance for consumers and delivering more value and insights to health plans, at-risk providers and other population health managers.
Predilytics uses machine learning and propriety technologies to more accurately segment consumers based on risk, receptivity and impactabilty, which ultimately provides more actionable insights. Leveraging these capabilities and insights, Welltok is creating the healthcare industry's first analytics-driven consumer enterprise platform that not only identifies which consumers to target, but also engages them with the most relevant health improvement resources and incentives. This provides a highly personalized, rewarding experience for consumers, as well as helps population health managers optimize their spend. READ MORE
Drizly Secures $13 Million In Series "A" Funding
Drizly, the technology company powering a superior shopping experience for beer, wine and liquor, today announced it has secured $13 million in Series A financing from Polaris Partners with participation from First Beverage Group and existing investors.
Drizly will use the proceeds to continue expansion of the industry standard for legally connecting alcohol supply and demand for the three-tier system, which comprises distributors, suppliers and sellers. The company expects to invest heavily in product development, sales and marketing, operations and global distribution.
Conceived in 2012, Drizly's technology and business model have created a legal framework for enabling licensed retailers to exploit opportunities in e-commerce, digital media, and data-driven marketing and operations. With the consent of regulators across the United States, Drizly currently operates in more than 15 American cities, with more than 150 retail and supplier partnerships.
"Off-premise alcohol sales is a $100 billion business that's untouched by technology," said Pat Kinsel, venture partner with Polaris Partners who will join the Drizly Board. "With Drizly, we are investing in a legal framework that connects alcohol supply and demand with full support of the industry players, who are all eager to see how innovation will transform their business."
The funding announcement follows a Drizly strategic alliance with the Wine and Spirits Wholesalers of America (WSWA). The alliance expands Drizly's presence with retailer partners across the country, enabling Drizly to serve more consumers and to provide those consumers with unparalleled choice and convenience. As part of the alliance, the WSWA took a small non-controlling interest and a seat on the Drizly Board of Directors.
A SUPERIOR SHOPPING EXPERIENCE
Drizly's apps and Web site feature an emphasis on ease-of-use and product discovery, adding new dimensions of surprise, delight, and interactivity to the unprecedented experience of getting alcohol delivered responsibly in 20-40 minutes. Users simply log in and are instantly able to browse from thousands of products with a shopping experience that parallels the best-in-class e-commerce platforms offered in other industries. With a few taps of a finger, product is scheduled for immediate delivery, or at pre-determined time in the future. Drizly also allows the consumer to send beer, wine or liquor as a gift to others across the country.
For the retailer, Drizly delivers incremental revenue and an added layer of security through its propriety ID verification system. Every retail partner of Drizly's is given this technology to use at the point of delivery to ensure the purchaser is of legal drinking age.
"In the past year, we've expanded from two cities to 15, grown our staff from three to 42 and built a product that makes purchasing alcohol informative, convenient and fun," said Nick Rellas, CEO and co-founder of Drizly. "We've laid the foundation and now through this latest round of financing, we've set our sights on growing our footprint across North America, increasing our visibility through larger marketing spends, and continuing to build out innovative products that produce new opportunities for brands and publishers."
In addition to powering a superior shopping experience, Drizly also offers an unprecedented set of technology and tools through its API, pioneering e-commerce opportunities in alcohol for publishers, social networks, and recommendation engines. The Drizly API provides third parties with a turnkey solution for deploying fast, convenient and responsible alcohol delivery inside of any consumer media experience, leveraging the largest and most sophisticated infrastructure delivery in the US.
Drizly is a technology company powering a superior shopping experience for beer, wine and liquor. Combining the best selection and price, content-rich and personalized shopping experiences, and the speed and convenience of on-demand delivery, Drizly delivers "The Joy of Drinking" to legal-age drinkers across the United States. Backed by a world-class group of angel and institutional investors, the company has raised $17.8 million to become a superior place to shop for beer, wine and liquor in Austin, Baltimore, Boston, Chicago, Denver, Indianapolis, Los Angeles, New York City, Providence, Seattle, St. Louis and Washington D.C., and other cities across the United States. For more info, visit www.drizly.com.
Brand Networks To Acquire Social Advertising Platform SHIFT
Brand Networks, the leading provider of relevance-driven social marketing and advertising software, today announced that it will acquire SHIFT, the award-winning platform for cross-network social advertising and collaboration, in a $50 million cash and stock deal. The acquisition creates the world’s leading social marketing platform with relevance at its core—powered by RelevanceRank, a proprietary technology also announced today. RelevanceRank is designed to help marketers achieve the highest possible levels of effectiveness and efficiency at every stage of the social marketing process.
With the acquisition, the Brand Networks platform will power over $500 million in social advertising spend for more than 650 of the world’s best known brands and agencies, such as Interpublic Group, WPP, American Express, AT&T, InBev, Discover, Yahoo! and Unilever. Customers include half of the Fortune 100 as well as 17 of AdAge’s 25 Most-Advertised Brands. This pushes the company to the forefront of an industry expected to top $16.2 billion in domestic spending by 2019. READ MORE
Teradyne to Acquire Universal Robots
Teradyne has signed an agreement to purchase Universal Robots (UR), the world’s leading maker of collaborative robots (cobots), based in Odense, Denmark. Cobots are low-cost, easy-to-deploy, simple-to-program robots that work side by side with production workers to improve quality and increase manufacturing efficiency. They automate tasks including machine tending, packaging, gluing, painting, polishing and assembling parts and are deployed in the automotive, food and agriculture, furniture and equipment, metal and machining, plastics and polymers, and pharma and chemicals industries.
Teradyne will provide revenue synergies, financial strength and global reach that will help accelerate Universal Robots growth. The acquisition provides Teradyne early access in an emerging market on the cusp of rapid growth. READ MORE
Citrix to Acquire Grasshopper
Citrix announced that it has entered into a definitive agreement to acquire Grasshopper Group, LLC, a leading provider of cloud-based telephony solutions for small businesses. Closing of the acquisition is subject to certain government consents and other closing conditions. The company expects that the deal will close in the second quarter of 2015.
The terms of the acquisition were not disclosed. READ MORE
Cybereason Closes $25 Million Series B Funding Round
Cybereason announced today that it closed $25 million in Series B funding, which will be used to expand its Research and Development and Sales and Marketing teams. Spark Capital led the round with participation from existing investor CRV and strategic investor Lockheed Martin.
Additionally, Lockheed Martin, which is already a current Cybereason customer, will integrate the Cybereason Detection and Response Platform into its various cyber security offerings. Additionally, Santo Politi, Founder and General Partner at Spark Capital has joined Cybereason’s board. READ MORE
Rapid7 Acquires NT OBJECTives (NTO)
Rapid7, a leading provider of security data and analytics software and services, announced today that it has acquired NT OBJECTives (NTO), the web and mobile application security testing company, expanding Rapid7's Threat Exposure Management offering to further meet the needs of modern business infrastructures. NTO's application security testing solution - trusted by many Fortune 500 companies - analyzes web applications for security vulnerabilities and maximizes organizations' ability to effectively reduce IT security risk. Rapid7 is offering this technology under the name Rapid7 AppSpider, available immediately to customers.
The addition of the AppSpider suite to Rapid7's Threat Exposure Management solutions provides information security teams with the ability to assess risk in assets and applications in their environments. This is combined with analytics to identify the most impactful actions that can reduce IT security risk. This approach enables users to make decisions based on business context and threat validation through automated attack simulation. READ MORE
PTC to Acquire ColdLight
LiveWorx 2015. It’s On! – PTC (Nasdaq: PTC) today announced it has signed a definitive agreement to acquire ColdLight, a visionary in big data machine learning and predictive analytics, for approximately $105 million. The acquisition of ColdLight’s Neuron automated predictive analytics platform will enrich PTC’s technology portfolio and extend PTC’s position as a leader in the Internet of Things (IoT) market.
ColdLight will serve as PTC’s core data analytics platform to deliver new value to markets both companies serve today – manufacturing, healthcare, media and retail – as well drive growth across new markets. When combined with PTC’s ThingWorx® IoT platform, ColdLight’s Neuron will automate the analysis of data from things to address a range of important challenges. These challenges include detecting failure patterns from data, modeling correlations, predicting failures, prescribing remedies and prioritizing recommendations against cost constraints. ColdLight’s Neuron platform addresses these challenges by using artificial intelligence and machine learning technology to automatically and continuously learn from data, discover patterns, build validated predictive models and send information to virtually any type of application or technology. READ MORE