Boston, MA

Testive Announces $500k Bridge Round of Funding

Testive, an edtech company that makes an online platform to improve standardized test scores, announced today that it has closed a bridge round of $500k to expand marketing and sales outreach to parents, students, and guidance counselors.

Developed at MIT by co-founders Tom Rose and Miro Kazakoff and launched in 2011, Testive’s software uses adaptive learning algorithms to identify student strengths and weaknesses and generates responsive questions at the appropriate difficulty level to build students’ key skills rapidly. “It’s like lifting the right weights at the gym,” said Testive Co-Founder and CEO Tom Rose, “it makes students stronger, faster.” READ MORE

 

Kaminario Raises Additional $15M

Kaminario has Raised an Additional $15M to its previous round of $53 Million.

Kaminario, the leading all-flash array storage provider for midrange enterprises, today announced it has achieved more than 100% quarter-over-quarter growth in bookings in Q4 2014, with the majority of customers choosing to expand their implementations following initial purchase. Kaminario also announced it has raised an additional $15 million toward its recently oversubscribed round of $53 million in December due to strong demand from investors. The company’s total funding now stands at $143M.

“Kaminario is at the leading edge of a revolution in storage,” said Brian Abrams, Partner at Lazarus, a US-based hedge fund. “More companies than ever are looking to implement flash in their data centers, and Kaminario’s all-flash array offers an unprecedented combination of value and performance. This funding round strongly positions Kaminario to capitalize on its recent progress and grow exponentially in the months and years ahead.” READ MORE

 

CloudHealth Technologies Secures $12 Million in Series B Funding

CloudHealth Technologies, the pioneer in IT service management for the cloud, announced today it has secured $12 million in series B funding, led by Silicon Valley-based Scale Venture Partners. Existing investors .406 Ventures, and Sigma Prime Ventures also participated in the round. As part of the funding round, Ariel Tseitlin, Partner with Scale Venture Partners, will be joining CloudHealth’s board of directors. On the heels of exceeding 100% quarter over quarter growth in 2014, CloudHealth Technologies will be using the funds to support the company’s rapid customer adoption, CloudHealth platform enhancements, expansion of services and increased hiring tied to engineering and sales.

“Enterprise and technology companies on a global scale are turning to the truly disruptive, utility-based cloud computing model. However, these same companies face challenges due to the increased complexity of managing cloud-based services that are magnified by the newly-enabled rapid rate of change. Traditional IT management tools just don’t work in this new model. Managing a cloud ecosystem with an eye toward maximizing the investment presents a real challenge,” said Partner Ariel Tseitlin of Scale Venture Partners. “CloudHealth is the first company to develop and scale a platform that enables ITSM for this very significant market, making it the leader in the space and an ideal investment for Scale Venture Partners. I am excited to join the CloudHealth Technologies board as they transform the way companies manage their cloud environments.” READ MORE


VMTurbo Raises $50 Million

VMTurbo, the only real-time demand-driven control platform for the software-defined universe, today announced its 18th consecutive record quarter, capping 2014 with revenue growth of 126% year-over-year. Along with strong revenue growth, VMTurbo increased its employee base by 126% and relocated company headquarters to Copley Square in Boston.

A new round of investment led by ICONIQ Capital raised $50 million for continued new product development and company growth. With more than 1,000 customers, including many of the world’s leading money center banks, financial institutions, social and e-commerce sites, carriers and service providers, VMTurbo was proud to grow its customer base in 2014 to include Salesforce.com, Thomson Reuters, Tribune Publishing, Cablevision and Rogers Communications. READ MORE

Jibo, Inc., Raises $25.3M in Series A Financing

Executive Chairman Steve Chambers Takes on the Role of CEO as Founder Cynthia Breazeal Becomes Chief Scientist

Jibo, Inc., the company behind Jibo -- the first family robot -- today announced $25.3M in Series A financing, led by RRE Ventures. Participating existing investor CRV, also the lead seed investor, and existing investors Fairhaven and Osage University Partners join new investors RRE, Flybridge Capital Partners, Two Sigma Ventures, Formation 8, Samsung Ventures and original angel investor, the Pagliuca Family Group, in the round. 

"Jibo is a natural fit for RRE Ventures," said RRE Ventures Co-founder and Managing Partner Stuart Ellman. "RRE has a long history of discovering category-defining companies in emerging industries and supporting their visionary founders. BuzzFeed in Content 2.0. Makerbot in 3D printing. Venmo in peer-to-peer payments. These ideas seemed crazy at the time. But crazy is a beautiful word at RRE; what's crazy today is in your home tomorrow. That's Jibo." READ MORE

 
ROAM Acquired by Ingenico Group

Ingenico Group (Euronext: FR0000125346-ING), the global leader in seamless payment, announced today that it now owns 100% of ROAM. ROAM and its mcommerce platform – consisting of secure mobile card readers, mobile Point-of-Sale (mPOS) applications, an innovative mobile payments engine and professional services – are now part of Ingenico Mobile Solutions, Ingenico Group’s mobile-focused brand, which will continue to be headquartered in Boston.

"ROAM is a key part of the Ingenico Group worldwide portfolio as mobile commerce growth surges,” said Jacques Guérin, EVP Smart terminals and Mobile solutions, Ingenico Group. “With 100% of ROAM, we will accelerate the deployment of a global and integrated mobile offer, enabling merchants to increasingly engage with their customers. This is a great opportunity to take Ingenico Mobile Solutions through its next phase of growth.” READ MORE

Breakaway Acquires Crunch Brands

We are excited to announce that Breakaway has acquired the agency Crunch Brands, an exceptional multi-disciplinary team led by our new Chief Marketing Officer, Ted Schlueter.

Our mission has always been to help drive value for our portfolio companies and clients. Sometimes that’s investing capital or placing talent. Often it’s developing a new brand strategy, building exceptional creative assets, and activating it across a community. There is always a place these businesses want to go. It might be dominating their category, exponential growth or building towards an IPO. Whatever it is, we have engineered an incredible machine to get them there faster. READ MORE

*Learn more about Breakaway's story in our interview with Baldwin, CEO & Schlueter, CMO after the acquisition - HERE 

athenahealth Acquires RazorInsights

We’re making good on our new brand promise – to connect care – right out of the gates in 2015 with today’s announcement that we’ve acquired RazorInsights, LLC, a leader in cloud-based electronic health record (EHR) and financial solutions for rural, critical access and community hospitals. 

What we want – and what providers need – is to be able to follow the bouncing ball from the doctor’s office to wherever care goes and capture and coordinate that care. With the acquisition of RazorInsights, we are following that ball into the inpatient hospital space – one we have not entered to date. READ MORE

 

QD Vision Lands $28M in Funding

As reported by Boston Business Journal, QD Vision, Inc., a nanomaterials product company delivering advanced display and lighting solutions that provide unparalleled color and cost savings, recently raised $28 million in funding from existing investors that included North Bridge and Highland Capital, among others. READ MORE

 

 

True Fit Raises $15M

True Fit, a Woburn, Mass.-based retail SaaS company allowing consumers to discover apparel and footwear styles that fit, raised $15m in equity funding.

The round was led by Signal Peak Ventures, Promus Ventures and Jump Capital, with participation from existing investors Guggenheim Partners, Breakaway Ventures and Novel TMT. READ MORE

Excel Venture Management Invests in Qstream

Qstream, providers of a mobile enterprise application for managing the human side of sales acceleration, today announced that the company has closed an additional $4 million in venture funding from new investor Excel Venture Management, with participation from existing Qstream investors Frontline Ventures and Launchpad Venture Group.   The new funds represent the second tranche of a $6.85 million Series A financing, which includes $2.85 million closed in September 2013.

The funding will be used to accelerate the company’s expansion in the estimated $2 billion predictive analytics sector, where Qstream combines the power of mobile, gamification and big data to deliver a new class of business intelligence that helps sales managers quickly and proactively align the behaviors of their sales people with growth initiatives. READ MORE

 

peerTransfer Secures $22M

peerTransfer, the leading provider of global payment solutions for the education industry, closed $22 million in new funding this week. Bain Capital Ventures led the round, with participation from prior investors including Spark Capital, Devonshire Investors, Accel Partners, and QED Investors.

The additional capital will be used to accelerate international growth, expand coverage and penetration at U.S. colleges and universities, and advance the company’s innovative cross-border payment platform. READ MORE

 

MediSafe Raises $6 Million

MediSafe™, the leading global medication management platform with over 1.3 million mobile downloads across iOS and Android smartphones and tablets, announced today that it has raised a $6 million Series A Round led by Pitango Venture Capital. Others participating in the round include 7wire ventures, as well as investors from previous rounds, including lool Ventures, TriVentures and Eyal Gura.

MediSafe’s mobile-first approach involves creating personalized interventions to the major causes of non-adherence – forgetfulness, lack of support, emotional distress, information overload, low engagement, and rising medication costs. Through its platform, the company is enabling tighter care coordination between patients, caregivers or “MedFriends,” physicians, and other providers. READ MORE

Demandware to Acquire Tomax

Demandware® Inc. (NYSE:DWRE) the industry-leading provider of enterprise cloud commerce solutions, today announced that it has agreed to acquire Tomax, an enterprise cloud software company that provides an integrated solution for retail point-of-sale (POS) and store operations. The combination of Tomax’s enterprise-class POS with Demandware’s robust, scalable cloud platform creates a breakthrough unified commerce platform that empowers retailers to deliver seamless experiences across all consumer touch points, including POS. The acquisition of Tomax is expected to close in January.

Connected consumers, empowered by the pace of technological innovation, are driving the digital transformation of retail. While 90 percent of all retail transactions take place in the store, digital is expected to influence approximately half of all in-store sales by 2015(1). To navigate this transformation, retailers are incorporating digital functionality into the store experience, such as personalized merchandising, detailed product information, ratings and reviews, product recommendations and the mobilization of store associates. In addition, retailers increasingly want to move to a single consumer-facing platform to extract value from disparate back office systems and leverage data, business rules, functionality and processes across the enterprise. READ MORE

 

 

OpportunitySpace Secures $500,000 Seed Round

The founding team at OpportunitySpace is thrilled to announce that we have secured $500,000 of our first outside funding for our seed round from a diverse set of real estate industry related investors.  OpportunitySpace is an online marketplace for urban development opportunities (www.opportunityspace.org). Our team works in close partnership with city and town governments as well as other public entities to identify and drive creative redevelopment to undervalued property in urban areas.


OpportunitySpace CEO Alexander Kapur says, “Our funding validates the investment potential in the surging real estate and public sector technology verticals. More broadly, it signals strong support for ventures that are solving urban issues, such as disinvested real estate. We hope this inspires entrepreneurs and investors who are pushing innovation for cities and towns.” READ MORE

 

TripAdvisor Acquires Iens

TripAdvisor has agreed to acquire top Dutch online restaurant review and booking sites Iens, the companies said on Thursday, giving the travel website a leading position in the Netherlands.

Iens.nl, which has reviews of 20,000 restaurants and roughly 20 million annual visitors, allows users to book tables through SeatMe, which will also be acquired by Tripadvisor. READ MORE

Learn more about TripAdvisor on their VentureFizz BIZZpage!

 

Everbridge Acquires Strategic Assets of Nixle

Everbridge, the worldwide leader in unified critical communications, has acquired the assets and team of San Francisco-based Nixle, a leading software platform for local, public safety and service communications. The combination of Everbridge’s market dominance in emergency notification, with Nixle’s innovative approach to community engagement, will redefine the way that organizations communicate and collaborate with local residents, schools and businesses.

Nixle delivers real-time, relevant information from public safety agencies to local communities, encouraging interaction and engagement. The company has grown to support over 7,000 public safety and government agencies at the local, county and state level, and millions of opt-in users. The combined Everbridge/Nixle team will expand the use of community notifications and shared intelligence to reach residents, educators, public safety professionals, local businesses and community leaders. READ MORE

Learn more about Everbridge on their VentureFizz BIZZpage!

 

Jana Raises $12.5 Million

According to SEC Filings, Jana, a mobile technology platform that connects emerging market consumers with global brands using mobile airtime, has raised $12.5 Million. READ MORE

eRecruit Raises $12M

According to SEC filings, eRecruit, the leading innovator in enterprise staffing software, VMS and onboarding solutions for large staffing firms and employers, has raised $12 Million in funding. READ MORE

Dun & Bradstreet Acquires NetProspex

Dun & Bradstreet (NYSE: DNB), the world's leading source of commercial information and insight on businesses, today announced that it has acquired NetProspex, the Massachusetts-based company that is a leader in B2B professional contact data and data management. The acquisition combines NetProspex's comprehensive professional contact database with Dun & Bradstreet's proprietary global business data and analytics.

"Dun & Bradstreet already provides our customers and partners the most comprehensive view of companies around the world, and now our customers can reach the largest, most accurate set of decision makers and decision influencers," said Bob Carrigan, president and chief executive officer and director of Dun & Bradstreet. "This acquisition fills a growing need for marketers by providing an actionable view of companies and the people who run them, putting quality relationship insight at the center of their marketing data strategy." READ MORE

 

SolarWinds Invests in AppNeta

AppNeta, the technology leader of Full Stack Application Performance Management (APM) solutions, announced today a strategic partnership with SolarWinds® (NYSE: SWI), an IT management leader serving over 150,000 customers worldwide including small to medium sized businesses and 425 of the Fortune 500 companies. Through AppNeta’s innovative, cloud-based approach to performance management, and through SolarWinds’ investment in AppNeta, the two companies will explore opportunities to meaningfully connect IT infrastructure to application delivery to drive an improvement in the overall performance and value of mission-critical business applications...  READ MORE

Rethink Robotics Announces $26.6 Million Series D Round of Financing

Rethink Robotics today announced $26.6 million in Series D financing, led by GE Ventures, with additional participation from Goldman Sachs, both new investors. All of Rethink Robotics’ earlier investors are also participating in the round, including Bezos Expeditions, CRV, Highland Capital Partners, Sigma Partners, Draper Fisher Jurvetson, and Two Sigma Ventures. The funding will be used to support the company’s continued innovation, growth, and international expansion, and reflects Rethink Robotics’ position as a leader in the emerging market of collaborative robotics. This new investment brings the company’s total funding to more than $100 million since its founding in 2008.

“Our customers are building the factories of the future, and our technologies have become an important part of their efforts,” said Scott Eckert, President and CEO at Rethink Robotics. “Our new and existing investors recognize the enormous market potential for smart, collaborative robots in manufacturing, and they share our vision for driving ongoing product innovation, volume deployments and continued expansion into global markets.”


Learn more about Rethink Robotics on their VentureFizz BIZZpage!

par8o Announces $10.5 Million in Series A Funding

par8o, Healthcare’s Operating System, today announced $10.5 million in Series A funding from Atlas VentureFounder CollectiveCHV Capital and other investors. Since the company’s founding in 2012, a growing and diverse list of organizations have adopted the par8o platform, including the largest employer in the State of Nevada, MGM Resorts, and several pre-eminent academic medical centers, including Harvard Medical School affiliated hospitals in Boston and facilities that are part of the Mount Sinai Health System in New York.

Started by the physicians who founded SERMO, the largest on-line physician community in the world, par8o traces its roots back to the on-line discussions around the Affordable Care Act (ACA). Even then, physicians recognized that success in the new era of healthcare would require a new approach to matching the right patient to the right resource at the right time. The par8o Healthcare Operating System allows healthcare organizations to optimize their networks of providers and other resources to deliver quality care by applying one of the most powerful and proven principles in economics: Pareto Optimization. This approach, and the EMR-agnostic technologies par8o has developed to implement it, are well-suited to the complex, multi-constituency nature of healthcare because they achieve continuous efficiency improvements while balancing the needs of all parties. READ MORE

SiteSpect Raises $13M in Funding

NewSpring Capital, a family of private equity funds, announced today that NewSpring Growth Capital, the firm's dedicated technology and business services growth equity fund, has invested $13 million in a minority financing in SiteSpect, Inc. ("SiteSpect").  This represents the Fund's sixth deal of 2014 as a closing was held on December 29, 2014.

This is the first outside funding received by the A/B and multivariate testing provider that incorporated in 2004.  Since its founding, SiteSpect has been a recognized leader with its unique SaaS-based optimization technology that enables marketers, product managers and developers to test and optimize the entire digital user experience and increase revenue.  Backed by a strong executive team and unique, patented technology, SiteSpect provides the only true enterprise-grade A/B and multivariate testing platform to the world's largest and most successful online brands. READ MORE

 

EnerNOC Completes Acquisition of World Energy Solutions

EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy intelligence software (EIS), today announced that it has closed the previously announced acquisition of World Energy Solutions, Inc. (Nasdaq:XWES), an energy management software and services firm that helps enterprises simplify the energy procurement process through a suite of Software-as-a-Service (SaaS) tools. To date, World Energy has transacted more than $45 billion in electricity, natural gas, and environmental commodities for its customers, making it one of the top energy procurement specialists in the U.S. by revenue and volume.

"We're excited to finalize the acquisition of World Energy Solutions, shift our focus to the integration of our product platforms and teams, and deliver additional value to our enterprise customers," said Tim Healy, Chairman and CEO of EnerNOC. READ MORE

The Green D Fund Announces First Fund

Today the Green D Fund announced the initial close of its first fund: The Green D Founders Fund. The Fund will back ventures with ties to Dartmouth and support the Dartmouth alumni entrepreneurial network. Total commitments to date are $1.5 million. 

The initial fund includes 40 Dartmouth alums. This first close allows the fund to immediately start investing. A second and final close is scheduled for January 30, 2015. The fund plans to make 12-18 investments in Dartmouth alumni-led businesses over the next 18 months. 

“Our investors span five generations and come from all around the country,” said Michael Collins (Dartmouth ’86), Lead Manager of the Green D Fund. “Given the widespread engagement we've seen, there's no doubt that the fund addresses a real interest of Dartmouth alums to invest in other Dartmouth alums. There are many reasons our supporters are attracted—to conveniently invest in an inconvenient asset class, to support Dartmouth's entrepreneurial ecosystem, and most importantly, to pay it forward." 

Fund Process and Management

Deals will be sourced from across the Dartmouth network, then vetted, selected, and tracked by an experienced Investment Committee consisting of Dartmouth alumni. The Fund will also support portfolio companies by connecting them to other alums for networking and mentoring. Compliance, back office, investor relations, and various other support functions will be fulfilled by the Green D Fund's advisor, Launch Angels. Launch Angels specializes in establishing and supporting alumni angel groups. 

In addition to Collins, the Investment Committee includes a number of notable Dartmouth entrepreneurs and investors. They include Scott Anthony (’96), Sean Byrnes ('00), Tom Caputo (’96), Wendy Miller (’84), and Alex Tonelli ('06). 

“There’s no question there is lots of buzz around the Green D Fund,” said Sean Byrnes. “This just confirms the vitality of our alumni community and Dartmouth's reputation as one of the top entrepreneurial schools in the nation.” 

Collins added, "It's a great beginning for the fund, but this is just the start. We have a lot of exciting plans for the Green D Fund."

  

About the Green D Fund, LLLP

The Green D Fund (www.TheGreenDFund.com) gives Dartmouth alums the chance to invest in Dartmouth-alumni led ventures. We are independent and return driven, but are also pleased to support the Dartmouth entrepreneurial community. Deals are sourced from the entire Dartmouth network, then vetted, selected, and tracked by our experienced Investment Committee.

The Green D Fund is an independent, for-profi­t company. It is not affiliated with nor officially sanctioned by Dartmouth College. Launch Angels Management Company, LLC (LAMC), is an advisor to the Green D Fund, LLLP. For more information and to inquire about participation in the second close, contact MikeC@TheGreenDFund.com

Investment Risks

Investors should consult with their financial and tax advisors before considering an investment. Early stage companies are risky investments, not suitable for all investors—even accredited ones. 

About Launch Angels 

Launch Angels (www.launch-angels.com) custom tailors Affinity Venture Funds to your group’s unique structure, investment goals, desired engagement level, and investment process. We work with you to define fund size, budget for each investment, and deal criteria, then handle all management, reporting, filing, and tracking. For more information, please contact info@launch-angels.com.

 

CampusTap Closes Seed Round

Today, CampusTap (www.thecampustap.com), the private social platform for colleges, announced that they have fulfilled their 500K seed round of funding. The round was led by several Boston angel investors including Douglas Leighton at Dutchess Capital and Bob DeMaria, Partner at Rally Software. The funds will be used for product development and team expansion in engineering to support their upcoming mobile application.

CampusTap was founded in 2013 by Remy Carpinito with a vision to bridge the gap between on-campus activities and job placement. Discovering that career development occurs earlier in the student lifecycle, the platform tracks on-campus interactions the second they set foot on campus. “By understanding the students better, our dynamic recommendations engine can hyper target them with relevant internships and jobs enhancing career services efforts” said CEO and Founder, Remy Carpinito... READ MORE

 

Qualtré Secures $9M Strategic Investment Round

Qualtré, Inc., the leading innovator of Bulk Acoustic Wave (BAW) silicon MEMS inertial sensors, today announced $9 million in funding from two strategic partners, including Alps Electric, along with current investors, Matrix Partners and Pilot House Ventures. Qualtré will use these funds to expand sales and marketing, scale operations, and extend product development as the company supports new customers and additional applications.

“Qualtré launched two BAW MEMS gyroscopes in 2014 with strong customer acceptance,” commented Edgar Masri, President and CEO of Qualtré. “These robust gyros offer higher accuracy with superior shock and vibration immunity at competitive price points. This makes them ideal for the challenging demands and harsh environments of industrial and high-performance consumer applications, such as inertial navigation, platform stabilization, robotics, unmanned vehicles, sports measurement, medical wearables, and the Internet of Things.” READ MORE

 

Salsify Raises $8M in Funding

Salsify, the cloud-based content management for e-commerce company, announced this morning that they have raised $8 million in a Series A round of funding from Matrix Partners and North Bridge Venture Partners.

The company's SaaS product enables enterprises to share a wide array of different content through a cloud-based network, allowing for data, pictures, and written content to be exchanged more easily in the high-paced world of e-commerce... READ MORE

Rapid7 Receives $30 Million Investment

Rapid7, a leading provider of security analytics software and services, today announced that it has received $30 million in additional funds from its long-standing investors, Bain Capital and Technology Crossover Ventures (TCV). The stockholders increased their investment in Rapid7 to enable the Company to maximize on the incredible growth opportunity presented by its latest innovative technology and strategic security services, which help customers radically improve security incident detection and speed response, and build better enterprise security programs. Interest in these offerings has been so compelling that Rapid7's leadership and investors capitalized on a timely opportunity to further the development of the solution and market while continuing to drive innovation in the Company's core threat exposure management portfolio. 

"At Rapid7, we design our products and services with a relentless focus on making it easier for enterprise customers and organizations to execute effective security programs. We believe companies can be successful in security without slowing down their business," said Corey Thomas, president and CEO of Rapid7. "This infusion of funds will enable us to capitalize on the tremendous growth and success we have seen this year by accelerating our leadership, market share, and development in intruder analytics and services, while continuing to innovate to better serve our existing customer base." READ MORE