Funding

149 stories
Fantasy for All
Draft, a fantasy sports app from former StarStreet founders, raises $3.5 million
Image via Draft
It has been quite a busy week for fantasy sports startups with local connections. First, Fortune reported that Draft Kings is in early talks with Disney about raising money that could value the Boston-based company at more than $1 billion. And today, former StarStreet founders, Jeremy Levine and Nicolo Giorgi announced that their new company has raised $3.5 million in Series A funding. Read More
New Member to the Billion Dollar Club
SimpliVity raises $175 million, is now valued over $1 billion
SimpliVity chief executive Doron Kempel (courtesy of the company)
It has been one year since Waltham-based Actifio raised $100 million in investment funding, valuing the company at more than $1 billion and elevating it to "unicorn" status — meaning that it is privately held and has raised investment funding that values the company at more than $1 billion. Today, Westborough-based tech infrastructure company SimpliVity joins the unicorn list. Read More
No Hibernating
Sqrrl raises $7.1 million for its NSA-rooted security risk detection software
Left to right: Adam Fuchs, co-founder and CTO; Mark Terenzoni, CEO; Ely Kahn, co-founder and Director of Business Development.(Photo via Liz Linder Photography)
There are numerous potential threats to Internet security: lone-wolf hackers, state-sponsored cyber attacks, or identity and data theft, for example. But one of the most difficult cybersecurity challenges to identify and prevent are the Edward Snowdens — the players already inside an organization who are looking to steal or share sensitive information. Today, Cambridge-based Sqrrl, which uses data analytics to fight Internet security threats, including from those known as 'determined insiders' like Snowden, announced that it has raised $7.1 million in new funding. Read More
Museum, meet Cuseum
Art tech startup Cuseum, formerly Spotzer, raises $1.2 million in seed funding
Photo provided by Cuseum
Cuseum, a museum technology startup, announced this morning that it has raised $1.2 million in seed funding. Cuseum focuses on mobile technology for the art and cultural sector, allowing museumgoers to have more personalized experiences interacting with art in exhibits and galleries. The startup has also debuted a name change; it was formerly known as Spotzer. Read More
Growth Tree
Payment company MineralTree gets $11.1 million in new funding
The MineralTree team. (Image via  MineralTree)
MineralTree, a Cambridge-based accounts payable and automated payments company, announced today that it has received $11.1 million in new funding from a group of investors that includes Fidelity Growth Partners, .406 Ventures, and new investor First Data, an international payment technology and services company. Read More
Head in the Clouds
CloudHealth Technologies raises $12 million to support the growth of cloud computing
(NOAA NATIONAL WEATHER SERVICE; FREEBIGPICTURES.COM)
CloudHealth Technologies, a Boston-based developer of management software for the cloud, announced today that it has raised $12 million in new funding. The Series B investment round was led by Silicon Valley venture capital firm Scale Venture Partners, and was joined by existing investors .406 Ventures and Sigma Prime Ventures. Read More
Deja vu all over again
Driftt, out to improve collaboration on documents, collects $15 million
The Driftt team, from left: David Cancel, Marshall Moutenot, Alden Keefe Sampson, and Elias Torres.
So much happens in five years... In 2010, I covered the initial funding of a Cambridge startup called Performable, which was out to help websites hold on to more of their visitors. In 2015, those same two entrepreneurs are collecting capital for a new idea, Driftt, from the same venture capital firm that initially backed Performable, CRV. Between 2010 and 2015, they got acquired by HubSpot for $20 million, helped that company rebuild its digital marketing product and grow its software development team, and left in September 2014, just before HubSpot's IPO. Read More
VC bubble or not, sea of funding options is boon for entrepreneurs
GREYCROFT PRINCIPAL ELLIE WHEELER AND FORMLABS SALES AND OPERATIONS LEAD LUKE WINSTON SPEAK AT MIT VC & INNOVATION CONFERENCE. (MIMI PHAN/MIT SLOAN SCHOOL OF MANAGEMENT)
Are we in a venture capital bubble? No one quite agrees as to whether we are or not, and venture capitalists and industry analysts have staked out on both sides of the debate over the course of 2014. Whether or not a bubble exists, it is clear that soaring valuations, increased venture funding, and a sea of new financing options are opening up more doors for entrepreneurs seeking funding. Read More