Centage Corporation Secures $9.5 million in Series A Funding
Centage ™ Corporation, a leading provider of budgeting and forecasting software (Budget Maestro™) for small and medium sized businesses, today announced it has secured $9.5 million in Series A funding from TVC Capital, a San Diego based growth equity firm focused on investments in, and acquisitions of, software and software-enabled service firms. Also participating in the round was Northgate Capital, a global private equity and venture capital investment firm. Effective immediately, Jeb Spencer of TVC Capital and Jared Stone of Northgate will also join the company’s board of directors.
With a strong user base of more than 600 companies across multiple vertical markets, Centage has grown at a rapid rate with minimal outside capital. The cash infusion will be used to expand the company’s product offering to include a cloud-based solution and bolster marketing efforts both domestically and internationally. Due to increasing financial management pressures, the demand for flexible solutions such as Budget Maestro remains high, thereby presenting an opportunity for the organization to capture a substantial portion of the growing global market. READ MORE
Millennial Media To Acquire Nexage
To accelerate its leading position in mobile advertising, Millennial Media (NYSE: MM) today announced it has signed a definitive agreement to acquire Nexage for approximately $107.5 million in cash and stock, subject to certain adjustments. Based in Boston, privately held Nexage is a leading provider of Real-Time-Bidding (RTB) technology that helps to automate the buying and selling of mobile advertising.
“We are in a very exciting time right now as we help to build, educate and advance the role of RTB and programmatic solutions to advertisers, publishers, and developers,” said Michael Barrett, President and CEO of Millennial Media. “Our vision is to create a full-stack solution that enables us to open the flow of impressions, operate a leading independent exchange, and maximize the yield for our publishers. The opportunity to integrate Nexage’s programmatic technology with our deep roots and heritage in agency relationships will uniquely position us in this fast paced ecosystem. Together, our companies will be able to offer managed services for agencies and a complete set of programmatic tools for automated buyers. We are looking forward to having the Nexage team join our family as we continue to build the next generation of mobile advertising.” READ MORE
Kinvey Secures $10.8M in Series B Financing
Kinvey (http://www.kinvey.com), the leading enterprise Backend as a Service (BaaS) platform, today announced $10.8M in Series B funding. Driven by new investors NTT DOCOMO Ventures and Verizon Ventures, and joined by existing investors Avalon Ventures and Atlas Venture, this financing brings Kinvey’s total amount raised to date to $17.8M. The new funds will be used to drive product development, accelerate enterprise IT sales, and expand channel partnerships with a focus on cloud and systems integrator partners.
"Mobile is driving the adoption of cloud in the enterprise, and both of these platforms are happening together simultaneously,” said Jeffrey Black, Director, Verizon Ventures. “These are two monumental platform shifts and Kinvey is well positioned to take advantage of these trends through its ability to provide a fully managed platform from front end app development, to connections to existing enterprise applications, delivered as a service via the cloud.” READ MORE
BuySellAds Acquires LaunchBit
We are pleased to announce that we’ve acquired email advertising company, LaunchBit.
We have worked with co-founders Elizabeth and Jennifer over the last couple of years and have seen their growth first hand. In March we formally partnered with LaunchBit, allowing advertisers to extend their performance campaigns across our niche networks like Carbon Ads. READ MORE
Ubersense is Joining the Hudl Team
We founded Ubersense in 2011 with the vision of putting world-class coaching in everyone’s hands. We have made great strides towards this vision: the app has been downloaded more than 2.5 million times and coaches and athletes in over 50 sports in 150 countries use our performance analysis tools. We have been humbled by stories of success including Olympic teams relying on Ubersense to win medals, NFL teams using the app during practice and even a blind baseball team using video to prepare for a national tournament.
That said, we have a lot more to do. Today, we are thrilled to announce that we have been acquired by Hudl. Hudl is the leading provider of game breakdown and video analysis software for sports teams. Their software is used by more than 55,000 teams worldwide, including teams in the National Football League, National Basketball Association, English Premier League and over 15,000 high schools and universities. READ MORE
Stratasys to Acquire GrabCAD
Stratasys Ltd. (NASDAQ: SSYS), a leading global provider of 3D printing and additive manufacturing solutions, today announced that it has entered into a definitive agreement to acquire privately-held GrabCAD, Inc. in an all-cash transaction. Terms of the transaction were not disclosed. The transaction is expected to be completed by the end of September, subject to the fulfillment of customary closing conditions. Upon completion of the transaction, GrabCAD will operate as a unit within the Stratasys Global Products and Technology Group. Hardi Meybaum, Co-founder and Chief Executive Officer of GrabCAD, will continue to lead GrabCAD within the group.
Founded in 2010 and led by Mr. Meybaum, a visionary entrepreneur and pioneer in 3D CAD cloud collaboration tools, GrabCAD is helping engineers get products to market faster by connecting people, content and technology. GrabCAD offers GrabCAD Workbench, a cloud-based collaboration tool that enables engineers and designers to share, view and manage CAD files and other design data. GrabCAD is also home to a community of more than 1.5 million members from around the world who can access a large public CAD file library as well as connect with other engineers. READ MORE
ezCater raises $2.16M in funding
As per PandoDaily, ezCater in Boston, MA has raised $2.16M in funding. ezCater is a nationwide online food ordering service for businesses. READ MORE
Startup Institute Closes $3 Million In Series A Financing
Startup Institute, an immersive career accelerator geared toward cultivating startup-savvy talent, today announced a partnership with Silicon Valley Bank and an investment by SVB* of $3 million in the company to support worldwide expansion of offices and programs. The partnership will help high-growth companies in the innovation sector find qualified candidates to scale their businesses.
Startup Institute launched its first program in 2012 to help startups find employees who could help their companies grow. The founders, including Katie Rae, founder of Startup Institute and Chairman of Techstars Boston, observed startup candidates had the "hard" skills, but failed to contribute when hired by startups because they were disoriented and failed to understand how high growth innovative companies work. The founding team thought this was a fixable problem and sought to create a talent pipeline for high-growth startups. READ MORE
MetTel Acquires Thrive Networks from Staples
MetTel, a leading communications solutions provider, today announced that it has reached a definitive agreement to acquire managed IT services leader, Thrive Networks, a Staples Company. For 14 years, Thrive has provided complete IT solutions for a wide range of businesses nationwide and will broaden and strengthen MetTel's managed service offering. This offering will now include network management and monitoring, virtualization solutions, data protection and a cloud service that includes email, file sharing and data back-up.
Thrive Networks is one of the top-rated outsourced IT providers in the country, ranking #44 in the recent MSPmentor 501 ranking for 2014. The 71 person team, including over 50 engineers, will continue to operate out of their network operation center in Tewksbury, MA, and the management team of Thrive, including Chief Technology Officer, Dylan O'Connor, will continue to be responsible for managing the business and delivering service excellence to their longstanding, nationwide customer base. READ MORE
Veracode Closes $40M Funding
Veracode, a Burlington, MA-based provider of a protection service, closed a late-stage $40m funding round.
The round was led by Wellington Management Company with participation from existing investors.
The company intends to use the funds to accelerate investments in sales, marketing and R&D and to consider acquisition of complementary technologies and a potential IPO. READ MORE
Skyword Acquires Vidaao & Raises $11M in Funding
Skyword, the leading content marketing platform and services company, today announced that it has acquired Vidaao, a New York City-based video creation platform with a freelance video producer community. Terms of the acquisition were not disclosed.
The company also announced that it has closed an additional $11 million in growth financing from Cox Media Group. The investment will be used to continue to grow the organization, expand its product and service offerings, and build out the company’s partner ecosystem. .. READ MORE
Wellframe Raises $8.5M
Today, Wellframe announced that the organization has closed on $8.5 million in financing, led by DFJ, with participation from Formation 8, Waterline Ventures and Queensbridge Venture Partners.
Wellframe focuses on enabling healthcare stakeholders to amplify and extend caring relationships through the use of mobile technologies, utilizing artificial intelligence and machine learning to maximize patient engagement. READ MORE
LogMeIn Acquires Meldium
LogMeIn, Inc. (Nasdaq:LOGM) today announced the acquisition of San Francisco-based Meldium (incorporated as BBA, Inc.), a provider of intuitive single-sign-on (SSO), password management, and identity and access management (IAM) solutions. The acquisition immediately expands LogMeIn's popular IT portfolio with an elegant SSO offering, while introducing a natural extension of the identity, cloud app, and device management capabilities in its other IT management products. As a result, the deal is expected to build upon and accelerate LogMeIn's strategic initiative of empowering IT professionals to embrace, manage, and secure today's cloud-centric, consumerized, workplace.
Meldium, a venture-backed startup and Y Combinator alum, is focused on helping companies manage access to the rapidly growing number of cloud apps used in the workplace, specifically addressing the security risks that often arise from employees' poor password practices. The company offers a simple, secure way for teams and entire companies to manage passwords and accounts for popular business and personal cloud applications – apps that are most often introduced by individual employees or line-of-business workers. The company's namesake SSO product offers seamless access to nearly 1500 of today's most popular apps, including the likes of Dropbox, Google Apps, Hubspot, WordPress, Zendesk, Salesforce, Asana, Trello, Evernote, JIRA, and Rackspace. READ MORE
Savant Systems®, LLC Received $90 Million Investment
Savant Systems®, LLC (“Savant”), the leading luxury smart home technology company, today announced that it has received a $90 million investment from affiliates of Kohlberg Kravis Roberts & Co. L.P. (KKR), a leading global investment firm and the founder of Savant, Robert Madonna. The funding will support Savant’s continued product innovation and company expansion.
“Savant is already an established market leader in home automation with clients including some of the most discerning public figures, entertainers and business leaders,” said William Lynch, CEO, Savant Systems. “With this significant investment, we will bring our award-winning Savant Home experience to a broader audience of consumers worldwide.” READ MORE
Black Duck Software Raises $20 Million
Black Duck Software, the leading OSS Logistics solutions provider enabling the deployment and management of open source software (OSS), today announced that it has closed a $20 million investment round led by General Catalyst Venture Partners with all existing investors also participating in the round. The funding will be used to help the company expand its global go-to-market model to fulfill the rapidly growing OSS Logistics market opportunity. In addition, the company today announced the appointment of Stephen Gregorio as its Chief Financial Officer and Executive Vice President.
Gregorio, who played a critical role in securing the new funding, has over 25 years of financial management experience at high-growth technology companies including Verdasys, Interwise Corporation (acquired by AT&T) and Gensym Corporation, among others. Reporting directly to Black Duck President and CEO Lou Shipley, Gregorio will help Black Duck expand aggressively in the fast-growing OSS Logistics sector. READ MORE
ZYNC Render Acquired By Google
Today we are announcing that Zync Render, the visual effects cloud rendering technology behind Star Trek Into Darkness and Looper, is joining the Google Cloud Platform team.
Creating amazing special effects requires a skilled team of visual artists and designers, backed by a highly powerful infrastructure to render scenes. Many studios, however, don’t have the resources or desire to create an in-house rendering farm, or they need to burst past their existing capacity. READ MORE
Mobiquity Adds $5M to its $12M Series B Financing
Mobiquity, Inc., a mobile engagement provider creating innovative solutions that drive business value, announced an additional $5M in funding led by NewSpring Growth, the dedicated technology and business services growth equity fund of NewSpring Capital, along with all existing institutional investors. The new funding is an extension of the $12M Series B round Mobiquity secured in June 2013 (led by NewSpring, Longworth Venture Partners, Sigma Partners and Thomas Weisel Partners), bringing Mobiquity’s total financing to date to $24 million... READ MORE
Continuum Acquires R1Soft
Continuum®, the industry's only channel-exclusive provider of fully integrated managed IT services solutions, has received overwhelming support from R1Soft® customers for its recent acquisition of R1Soft Server Backup Manager (SBM) from Idera. More than 2,500 cloud infrastructure providers currently use R1Soft SBM to protect more than 300,000 servers worldwide, making it one of the leading commercial backup software for web hosting providers.
“We have been an R1Soft partner for years,” said Corey Arbogast, Owner of R1Soft Licenses, an x10Hosting Website. “We not only rely 100 percent on their backup solution but also manage for hundreds of other small businesses and hosting companies. With the resources and experience at Continuum coupled with the already talented R1Soft development team, we are excited to see the evolution of R1Soft already underway. We are especially enthusiastic to welcome Continuum and look forward to their vision for the future of R1Soft.” READ MORE
Tablelist Secures Additional $500K
As reporteed by BostInno, Tablelist, an app where club goers can book tables for bottle service at their favorite venues safely and securely through their mobile devices, has secured an addtional $500,000. READ MORE
DraftKings Closes $41M Round & Acquires StarStreet
DraftKings, Inc., today announced that it has closed a $41 million Series C round of funding led by The Raine Group, with participation from existing investors Redpoint Ventures, GGV Capital, and Atlas Venture. DraftKings also announced that it has acquired the principal assets of Cambridge, Mass.-based daily fantasy site StarStreet, further bolstering its status as the largest U.S.-based online destination for daily fantasy sports. Terms of the deal were not disclosed.
DraftKings will use the Series C funding to further enhance its mobile and online destinations, bolster its base of users, continue to attract highly skilled employees, and offer a richer variety of sports with increased guaranteed contest prizes, including its NFL Fantasy Football Millionaire series. In this first-of-its-kind contest, DraftKings will award four players $1 million in four months—the span of the NFL regular season... READ MORE
LTG Exam Prep Platform raises $3M in Funding
LTG Exam Prep Platform, an education technology startup company out of MIT, announced today a combined investment of $3 million from Tal Education Group, Atlas Venture, Jamie McCourt, Margot Carter, Yongjin Group and Zhen Fund. The investment will fund the company’s continuing development of mobile study apps that provide comprehensive yet affordable standardized test prep tools to students around the world. The apps use proprietary algorithms developed at MIT to create personalized study courses for each app user. Cognitive games designed to teach test skills while providing an engaging break from studying are also in development...READ MORE
Fancred Secures $3 Million Funding Round
Fancred, an app that lets users capture their favorite sports moments and connect and interact with a community of fellow fans, announced today the completion of a $3 million financing round led by existing shareholders, Atlas Ventures and Militello Capital, as well as first time participant Breakaway Innovation Group.
Fancred was founded by Hossein Kash Razzaghi, Jeremy Merle, and Craig Johnson (all of whom previously worked at Brightcove), and Michael Pan. READ MORE
EnerNOC Announces Investment in WeSpire
EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy intelligence software (EIS), announced today that it has made a strategic investment in Boston-based WeSpire, a software-as-a-service (SaaS) company for businesses seeking an innovative approach to measure and track the positive business impact of engaging employees in sustainability through technology. Under the terms of the agreement, EnerNOC has exclusive rights in the EIS space to market a white-labeled version of WeSpire’s employee engagement application, customized for enterprise and utility customers. By offering the WeSpire application, EnerNOC further enhances its ability to help businesses take a holistic approach to energy management.
With WeSpire, users earn points for actions related to projects that span energy, water, waste, transportation, food, volunteerism, and corporate citizenship. Founded in 2010, WeSpire has already achieved significant traction with notable customers, including eBay, McDonald’s, Unilever, and MGM Resorts International. Through this agreement, WeSpire will be available to all EnerNOC customers. READ MORE
Wayfair Files S-1 with the SEC for an IPO
As per the company's SEC filings, Wayfair in Boston, MA has filed an S-1 for a public offering which could raise $350M. Investors in the company include Battery Ventures, Great Hill Partners, Spark Capital, HarvourVest Partners, and T. Rowe Price Associates. Wayfair is an eCommerce company focused on the home furnishings market... READ MORE
Groupize Solutions Closes an Additional $2 Million in Series A1 Funding
Groupize, Inc. announced that it has secured an additional $2 million in Series A1 funding, from strategic partners including Thayer Ventures and Golden Seeds. With over $4.5 million in funding, the company’s revolutionary group booking and management platform is gaining rapid traction, with more than 8,000 hotels and several travel web sites currently using its cloud-based solution. The additional investments will grow the sales organization, support the growing customer base and accelerate the launch of Instant Book Capabilities for Small Groups.
Thayer Ventures is a Venture Capital firm that invests exclusively in technology companies that focus on the travel and hospitality industry. Representing more than $10 trillion in annual global economic activity, the space is thriving with entrepreneurial activity, and disruptive change is altering the dynamics of the travel business forever. READ MORE
Happier Adds $2 Million
As reported by BetaBoston Happier adds $2 Million in Funding. Happier is a mobile app that encourages people to find happy moments in every day, share with friends and family, and be inspired to do more of what makes you happier. READ MORE
Adecco Group Acquires OnForce and Merges it with Beeline
Beeline, a global leader in software solutions for managing the extended workforce, today announced that its parent company, Adecco Group, has acquired OnForce and is merging the company under Beeline's portfolio of workforce solutions, which include a vendor management system (VMS), Ellegro learning solutions (ELS) and now OnForce freelancer management system (FMS). Beeline and OnForce will deliver the first integrated solution that offers customers multiple channels for sourcing talent. Combining Beeline VMS with OnForce FMS gives customers unprecedented access to both their trusted supply chain and their network of highly skilled, carefully vetted and correctly classified independent contractors (freelancers) through one cloud-based solution.
Research firm Aberdeen Group estimates that almost 26 percent of the average organization's total workforce is contingent, which can include temps, consultants, independent contractors/freelancers, outsourced project resources, retirees, alumni and other nontraditional workers. Accessing and managing this "extended workforce" is often a fragmented process involving a mixture of technologies such as VMS, FMS, spreadsheets and other ad hoc tools. The new integrated offering will combine Beeline's powerful process automation and analytics for sourcing and managing talent through suppliers, with OnForce's ability to directly access and manage today's burgeoning population of freelance talent. This will provide customers with a valuable new option for simplifying operations and optimizing the management of their extended workforces. For Beeline's channel partners, it will also enable them to either add an independent contractor offering to their current services, or to manage their existing independent contractor business more effectively. READ MORE
Nasuni Raises $10 Million in New Venture Capital Financing
Nasuni®, a provider of enterprise storage as a service to global organizations, today announced that it has secured $10 million in new venture capital financing. Previous investors Flybridge Capital Partners, North Bridge Venture Partners and Sigma Partners, as well as a strategic investor, all participated in this extension of Nasuni’s C round. The new financing brings the total funds raised by Nasuni to $53 million.
The new funds will fuel Nasuni’s triple-digit growth through increased investments in engineering, sales and marketing. In its most recent quarter, Nasuni’s bookings grew 232 percent over the same period in 2013. In fact, the company has already exceeded 2013’s full-year sales bookings... READ MORE
Bullhorn Acquires The Code Works
Today, Bullhorn acquired The Code Works Inc., the makers of VMS Access – a cloud-based software product that integrates corporate procurement and vendor management systems (VMS) like SAP’s Fieldglass with CRM systems like Bullhorn. Our staffing customers were asking us for an integration between Bullhorn and popular VMS solutions used by their biggest end-user clients so that they could spend less time on data entry and more time interacting directly with their customers, and we listened to them.
There are number of reasons that this is a fantastic acquisition for Bullhorn and our customers. First, The Code Works Inc. has developed incredible technology. The way in which The Code Works Inc. integrates... READ MORE
Gameface Media Inc. Raises $2.5M in Series B Funding
Gameface Media Inc., the largest provider of free amateur sporting event photos in the world, today announced it had secured $2.5 million in an oversubscribed Series B funding round. The funding was provided by a group of prominent individual investors including successful entrepreneurs, hedge fund managers and venture capitalists from Boston, New York and the San Francisco Bay Area. Gameface Media plans to make strategic investments in product development, sales, marketing and client services with this round of funding.
Gameface Media delivers unique branded images of participants looking their best whether that be ripping down a mountainside, running through a wall of fire or finishing a marathon. Rather than charging as much as $60 for these images, Gameface Media provides all photos for free... READ MORE