Adecco Group Acquires OnForce and Merges it with Beeline
Beeline, a global leader in software solutions for managing the extended workforce, today announced that its parent company, Adecco Group, has acquired OnForce and is merging the company under Beeline's portfolio of workforce solutions, which include a vendor management system (VMS), Ellegro learning solutions (ELS) and now OnForce freelancer management system (FMS). Beeline and OnForce will deliver the first integrated solution that offers customers multiple channels for sourcing talent. Combining Beeline VMS with OnForce FMS gives customers unprecedented access to both their trusted supply chain and their network of highly skilled, carefully vetted and correctly classified independent contractors (freelancers) through one cloud-based solution.
Research firm Aberdeen Group estimates that almost 26 percent of the average organization's total workforce is contingent, which can include temps, consultants, independent contractors/freelancers, outsourced project resources, retirees, alumni and other nontraditional workers. Accessing and managing this "extended workforce" is often a fragmented process involving a mixture of technologies such as VMS, FMS, spreadsheets and other ad hoc tools. The new integrated offering will combine Beeline's powerful process automation and analytics for sourcing and managing talent through suppliers, with OnForce's ability to directly access and manage today's burgeoning population of freelance talent. This will provide customers with a valuable new option for simplifying operations and optimizing the management of their extended workforces. For Beeline's channel partners, it will also enable them to either add an independent contractor offering to their current services, or to manage their existing independent contractor business more effectively. READ MORE
Nasuni Raises $10 Million in New Venture Capital Financing
Nasuni®, a provider of enterprise storage as a service to global organizations, today announced that it has secured $10 million in new venture capital financing. Previous investors Flybridge Capital Partners, North Bridge Venture Partners and Sigma Partners, as well as a strategic investor, all participated in this extension of Nasuni’s C round. The new financing brings the total funds raised by Nasuni to $53 million.
The new funds will fuel Nasuni’s triple-digit growth through increased investments in engineering, sales and marketing. In its most recent quarter, Nasuni’s bookings grew 232 percent over the same period in 2013. In fact, the company has already exceeded 2013’s full-year sales bookings... READ MORE
Bullhorn Acquires The Code Works
Today, Bullhorn acquired The Code Works Inc., the makers of VMS Access – a cloud-based software product that integrates corporate procurement and vendor management systems (VMS) like SAP’s Fieldglass with CRM systems like Bullhorn. Our staffing customers were asking us for an integration between Bullhorn and popular VMS solutions used by their biggest end-user clients so that they could spend less time on data entry and more time interacting directly with their customers, and we listened to them.
There are number of reasons that this is a fantastic acquisition for Bullhorn and our customers. First, The Code Works Inc. has developed incredible technology. The way in which The Code Works Inc. integrates... READ MORE
Gameface Media Inc. Raises $2.5M in Series B Funding
Gameface Media Inc., the largest provider of free amateur sporting event photos in the world, today announced it had secured $2.5 million in an oversubscribed Series B funding round. The funding was provided by a group of prominent individual investors including successful entrepreneurs, hedge fund managers and venture capitalists from Boston, New York and the San Francisco Bay Area. Gameface Media plans to make strategic investments in product development, sales, marketing and client services with this round of funding.
Gameface Media delivers unique branded images of participants looking their best whether that be ripping down a mountainside, running through a wall of fire or finishing a marathon. Rather than charging as much as $60 for these images, Gameface Media provides all photos for free... READ MORE
Progress Ventures Invests in Crave Labs
As reported by Boston Business Journal, Cambridge-based venture capital firm Progress Ventures has invested in Boston-based mobile advertising technology firm Crave Labs. READ MORE
RedPoint Global Closes $5.2M in Funding
RedPoint Global Inc. ( www.redpoint.net ), a leading provider of data management and digital marketing software, today announced a $5.2 million growth financing led by Grotech Ventures of Vienna, Virginia, with participation from Sagamore Ventures, LLC of Baltimore, Maryland. RedPoint will use the investment to accelerate sales and marketing initiatives around its recently launched Data Management for Hadoop 2.0 product. Already established in the marketing campaign management area, RedPoint plans to leverage its technology to help companies of all sizes quickly and effectively take advantage of Big Data in traditional business areas, including marketing.
RedPoint Data Management(TM) for Hadoop(R) 2.0 was the first ETL and data quality application certified by Hortonworks for its ability to process Big Data natively within a Hadoop 2.0 environment using the YARN architecture. In addition, RedPoint Data Management completely bypasses the need for MapReduce coding thereby enabling any database analyst to efficiently work in the Hadoop environment. Competing solutions are dependent on MapReduce, requiring specialized skills or the need to move data into and out of the Hadoop cluster for processing, defeating the inherent value of Hadoop's data processing advantages. With RedPoint, data is processed directly inside the Hadoop cluster, saving time and improving overall system performance. READ MORE
Directr is Joining Google
Our small band of scrappy film lovers set out 2 years ago to help regular folks make great video. Today, we are incredibly excited to take the next step on that journey and announce that we are joining the video ads team at YouTube.
For now, everything you love about Directr is staying the same and we’ll continue to focus on helping businesses create great video quickly and easily. One immediate bonus: Directr will soon be all free, all the time. Thanks, YouTube! READ MORE
ViralGains Raises $2.8M of a Planned $3.3M Round of Funding
ViralGains, a company with a mission to create authentic relationships between consumers and advertisers through online video, today announced that the company has raised $2.8 million of a $3.3 million round of funding. The company is using the funds to move into new markets, including Southern California, New York City and Chicago, and to grow the demand and supply sides of its business.
The round was led by Hub Angels, with participation from 45 investors, including 500 Startups’ Dave McClure, Chicago-based Pallasite Ventures, Boston’s Launch Capital and local Boston-based angels Ty Danco, Joe Caruso, Jay Batson and Semyon Dukach. In addition, rapper Nasir “Nas” Jones is part of the investment group... READ MORE
Ericsson Acquires MetraTech
Today, we announced that Ericsson plans to acquire MetraTech to accelerate its leadership in cloud and enterprise billing and settlement. In a world being made more complicated by a proliferation of online services, the Internet of Things (IoT) and a maze of evolving business relationships, service providers and enterprises alike cannot be constrained by the limitations of their software platforms. The transformation of products into services is continuing at a pace unlike anything we have seen before and the cloud and everything-as-a-service (XaaS) economy is upon us. With this environment as a backdrop, service providers need a platform that enables them to monetize increasingly complex services and partner relationships. Market share will be won based on business model innovation, not simple price changes.
Agile billing is required for businesses that are serious about creating new revenue streams, meeting customers’ needs and doing it fast and well. At MetraTech, we’ve had an agile billing platform from day one with our metadata-driven approach. It is what makes our solution flexible and responsive, as well as business-model- and industry-agnostic. We’ve helped our customers accelerate commerce by enabling them to innovate how they create, structure and manage financial relationships with their customers, partners and suppliers. Our products are used by some of the most recognizable companies around the globe in communications and media, conferencing and collaboration, transportation, travel and hospitality, financial services, cloud and software industries. What these customers all have in common is their ability to create and deliver differentiated service offerings, securely collect revenue and compensate partners the way they need to without compromise. Ericsson took note of MetraTech’s unique ability to provide this flexibility through multiple delivery models (SaaS, on-premise or managed service) to support customers’ deployment needs. READ MORE
ChoiceStream Raises $7.5 Million
ChoiceStream, a full-service programmatic media-buying company today announced that it has raised $7.5 million in Series B funding, led by New York-based Fred Alger Management. This round marks ChoiceStream’s first new-investor-led financing since the company’s 2011 transformation into a pure-play demand-side advertising platform.
“This funding will be used to expand ChoiceStream’s programmatic platform by further investing in our survey-based targeting, dynamic creative, and audience insights capabilities,” says Eric Bosco, CEO of ChoiceStream. READ MORE
Intigua Secures $10 Million in Series B Funding
Intigua™, the first company to enable software-defined operations using advanced container technology, today announced it has closed a $10 million Series B round led by new investor Intel Capital. Existing investors Bessemer Venture Partners and Cedar Fund also participated in the round, which brings the total invested capital to $21 million. Intigua will use the new money to fund global sales, marketing and development of the Intigua Virtual Management platform, and accelerate its ability to execute on its software-defined operations vision.
This round follows a series of achievements for Intigua, including the coveted “Best of VMworld” award and a record 1H 2014 highlighted by the addition of several strategic customers, including a Fortune 500 technology company, one of the ten largest global banks, and the world’s largest IT systems integrator. Enterprises like these are turning to Intigua to accelerate workload delivery, improve application uptime and performance, and boost operational efficiencies across increasingly complex environments. By enabling software-defined operations, a concept Intigua coined to denote the ability to deliver systems management as a service at cloud scale, the company is ushering in a new era of IT operations. READ MORE
Karmaloop Receives $13M
Karmaloop, a Boston, MA-based multi-platform online retailer that specializes in streetwear fashion, received a $13m senior facility from CapX Partners.
The company intends to use the funds to enhance operating initiatives and maintain its market position. READ MORE
Ellevation Education Adds $2M
Ellevation Education, a Boston-based provider of online planning, reporting and communication tools for English Language Learners (ELL), has raised $2 million from a motley of parties, including existing investors Chris Gabrieli, NewSchools Venture Fund, Adam Miller, Rick Burnes, Josh Tolkoff, Eileen Rudden, and Lynda Bodman. New participants include Berylson Capital, Steve Kupfer, Alan and Judy Wurtzel, Alex Saltonstall, and Josh Kirkpatrick.
The startup has now raised $5.1 million, according to co-founder and CEO, Jordan Meranus. READ MORE
Tablelist Raises $1.5M
As reported by BostInno, Tablelist, an app where club goers can book tables for bottle service at their favorite venues safely and securely through their mobile devices, has raised $1.5M. READ MORE
NextView Ventures Raises $40M Second Fund
Per Rob Go's blog post: On behalf of our team at NextView, I’m very pleased to announce that we have just closed our second fund. NextView Ventures II is $40M, twice the size of our first fund, and we continue to be exclusively focused on seed-stage companies pursuing internet-enabled innovation.
As former operators and product-oriented entrepreneurs, Dave, Lee, and I tend to think of our firm as a startup company and our approach to investing as our product. We’ve often explained to entrepreneurs that the second fund of a venture firm is very much like the series A for an early stage company. It shows that things are working and there is product/market fit, but there is a long way to go towards building an enduring company of great consequence. READ MORE
ObserveIT Raises $20M in Funding
The word is out and we couldn’t be more excited! Yesterday we announced the good news that we raised $20M from Bain Capital Ventures. This investment will bring ObserveIT to incredible heights, as it will get the solution in front of more enterprises and large organizations, who all need our user activity monitoring solution. READ MORE
DraftKings Acquires DraftStreet
DraftKings, Inc., a leading provider of online and mobile daily fantasy sports, today announced it has acquired New York-based fantasy sports site DraftStreet. The deal combines the two largest US-based daily fantasy sports providers, immediately expanding DraftKings’ customer base by more than 50 percent, while providing the industry’s broadest range of daily fantasy sports offerings. Financial terms of the deal were not disclosed.
Nearly 37 million people in the United States and Canada—nearly 1 in 8 adults and 1 in 5 males—play fantasy sports. Daily fantasy sports are a burgeoning component of this multi-billion dollar market. READ MORE
Amino Raises $1.65M
As reported by TechCrunch Amino, who is creating a network of mobile apps, each of which is exclusively dedicated to a specific interest like k-pop, Minecraft, anime, Doctor Who etc. raises $1.65M to replace old-school forums with mobile communities. READ MORE
Canary Joins GoDaddy
It is with great pleasure that we announce that the Canary calendar team has joined GoDaddy! Before we move on, we'd like to address what this change means for our existing Canary users.
To current users of Canary, thanks for your support and amazing feedback! Thanks to our latest update, Canary will continue to work as a standalone app on your iPhone, and you should have no problems with it unless there is a major change to one of the underlying services. We will make sure that Canary remains available on the App Store until we're confident all of our existing users have had a chance to upgrade. READ MORE
erecruit Announces $25 Million Capital Raise
Erecruit Holdings, LLC (erecruit), the emerging leader in enterprise staffing software and vendor management systems (VMS) for large staffing firms, today announced it has secured a $25 million minority investment from North Bridge, a leading growth equity firm focused on investing in emerging and high-growth technology companies. The growth funding, which is the first institutional investment in erecruit, will be used to further accelerate the business’ momentum by adding to its seasoned team and further investing in product innovation as it continues to disrupt the market, improving the way staffing firms operate.
The global market opportunity for enterprise staffing software and VMS is large and growing rapidly as the demand and complexities of the contingent labor workforce increase. erecruit’s highly configurable and intuitive enterprise software platform streamlines staffing firms’ operations by providing seamless integration of front, middle and back office functions, including sales and client relationship management, recruitment, search & match, onboarding, time and expense management, pay/bill and reporting. Moreover, erecruit’s platform can be accessed from any browser on any device and integrates with dozens of web applications to maximize efficiency. READ MORE
Synchrony Financial Invests in Mobile Payment Startup LoopPay, Inc.
Synchrony Financial today announced the completion of a strategic investment in LoopPay, Inc., an innovative mobile payments platform company. LoopPay is expected to provide Synchrony Financial with special features and benefits for its cardholders and retail partners.
LoopPay recently introduced the LoopPay ChargeCase, which allows consumers to pay with their iPhone 5 or 5s at regular credit card swipe readers, while extending the phone’s battery charge by up to 60%. It is the second product launched by LoopPay in four months, with several more products planned for market entry this year... READ MORE
Smart Lunches Raises $4.4M in funding
As per SEC filings, Smart Lunches in Boston, MA has raised $4.4M in funding. Smart Lunches is an online meal service that brings fun, nutritious, high-quality lunches to kids... READ MORE
Robin Closes $1.4M in Funding
Robin, a software for building automation and presence sensing in offices, closed its first round of funding for $1.4 Million. Investors include Atlas Venture, Deep Fork Capital, Boldstart Ventures, and Space Pirates. READ MORE
WordStream Raises $12 Million in New Funding
WordStream Inc., a leading provider of search engine marketing software, has secured $12 million in new funding, led by new investor Baird Capital of Chicago, the direct private investment arm of Robert W. Baird & Co., with participation by current investor Sigma Partners. Of the new funding, $9 million was provided via a Series C venture capital investment, with an additional $3 million in venture debt provided by City National Bank.
The funding will be used to further invest in search marketing software designed to help small and medium-sized businesses obtain vital leads and better manage their own growth and reach. This will include continued focus on the award-winning AdWords Performance Grader as well as making WordStream’s PPC Advisor offering the platform of choice for small and medium-sized businesses. READ MORE
Next Step Living Secures $25 Million in Series D Financing
Next Step Living, New England’s leading provider of home energy solutions, has received $25 million in Series D funding, the company announced today. Led by new investor Braemar Energy Ventures, the funding also includes several leading earlier-stage investors. Among them are VantagePoint Capital Partners and Black Coral Capital.
The funding caps a record growth period for Next Step Living which since 2008 has helped more than 75,000 households become more energy-efficient and adopt renewable energy. Earlier this year, the company ranked first as the fastest-growing private company in Massachusetts and was named to the prestigious TiE50 “2014 Global Hot Technology Start-up Watch List.” Additionally, company founder and CEO Geoff Chapin this month was named EY Entrepreneur Of The Year 2014TM in New England. READ MORE
Coherent Path Raises $6.25M Series A
Coherent Path, Inc., maker of the cloud-based analytics and engagement platform that allows retailers to map customer journeys and optimize customer interactions around long-term objectives, has raised $6.25M in venture financing. The investment was led by Sigma Prime Ventures and GrandBanks Capital with participation from Common Angels, dunnhumby Ventures and BOLDstart Ventures and will be used to expand the company’s sales and marketing teams.
SigmaPrime and GrandBanks selected Coherent Path because of the team and science behind its solution, and the proven lift in engagement and revenue it delivers to top retailers. “Coherent Path is transforming the way retailers think about and engage with their customers,” said Paul Flanagan, Managing Director at Sigma Prime Ventures. “We’re thrilled to partner with James Glover and his team as they continue to build a great company,” added Tim Wright, General Partner at GrandBanks Capital. Both Flanagan and Wright are joining the Coherent Path Board of Directors. READ MORE
WHOOP Raises $6 Million
As per SEC filings, Whoop in Boston, MA has raised $6M in funding. Whoop is a Health, Welness and Fitness technology and data analytics company for performance optimization. READ MORE
SmashFly Technologies Secures $9 Million
Last June, J.P. Morgan Chase published a study that suggested more than 75 percent of businesses today cite talent acquisition as one of their biggest challenges. While talent acquisition can be exacerbated by a number of issues, one particularly glaring obstacle is that many organizations continue to rely on legacy ERP and ATS systems to manage the post-applicant recruitment process. Meanwhile, the pre-applicant recruiting experience continues to be haphazardly managed by several disparate solutions — namely, CRM systems, job distribution software, mobile and social recruiting tools, and myriad career sites.
Ultimately, the result of all of that is an overly complex, costly, and inefficient recruiting process, which prevents recruiting teams from capturing and centralizing data — two critical components of executing and improving talent acquisition. SmashFly Technologies, the leader in Recruitment Marketing Platform technology, believes its Platform is the answer to those challenges. And today, theMassachusetts-based SaaS company announced that it had secured the funding to help bring that solution to the masses. READ MORE
OnHand Raises $500K SEED Round
As reported by BostInno OnHand Raises $500K SEED Round.
OnHand, a tech accessories company that was started in a Babson College dorm room and grew up in the MassChallenge Accelerator (2012 Finalist), has raised a seed round of $500,000 through private investment
OwnerIQ Completes $11 Million Financing Round
OwnerIQ, the leading provider of retailer and manufacturer audience monetization services, has completed an $11 million financing round to further drive growth of the category. OwnerIQ drives first-party audience monetization for more retailers than any other company, helping retailers turn their online customers into a valuable asset. At the same time, OwnerIQ's co-operative audience marketplace enables retailers and manufacturers to share first-party data to run targeted digital advertising.
The financing was led by existing investors with new investors joining the syndicate and was completed in two tranches. The first tranche closed in April. READ MORE