Monday, September 29, 2008

Authoria Acquired by Bedford Funding for $63.1 Million - Waltham, MA

Authoria, a privately held, Waltham-based provider of talent management software, announced on Monday that it has agreed to be acquired by Bedford Funding, a private equity firm, for $63.1 million. In addition to the purchase price, Bedford Funding will make an additional $8 million investment in working capital to enhance Authoria’s overall corporate growth, according to the announcement. Authoria founder Tod Loofbourrow will continue to lead the company as its CEO. Authoria serves more than 300 large organizations and 4 million managers and employees with its Internet-based softwarwe. Its customers include Aetna, Alcon, and Boeing.

Friday, September 26, 2008

Tipjoy Raises $1 Million in First Round - Cambridge, MA

Tipjoy, a Cambridge-based provider of micropayments processing, has raised about $1 million in its first round of venture capital, which was led by Betaworks, a New York-based business incubator for web-based businesses. Tipjoy charges about $0.10 cents for $1 transactions, and aggregates transactions, which can lower processing fees. The company has received investments from David Shen Ventures, owned by the former Yahoo executive; the Accelerator Group (TAG); Y Combinator, a Silicon Valley-based business incubator; and some individual investors, such as Chris Sacca, a former Google executive.

Wednesday, September 24, 2008

ChartOne Acquired by HealthPort - Burlington, MA

HealthPort, a provider of business management software for the healthcare industry, announced it has acquired its “closest competitor,” Burlington-based ChartOne. HealthPort said that, with the acquisition, it has combined revenues of more than $230 million and serves more than 8,000 healthcare facilities across the U.S. The company’s headquarters will be located in Alpharetta, Ga., and will be led by HealthPort CEO Michael Labedz. Members of the ChartOne management team will work with leadership to continue “business as usual while also ensuring a smooth transition for all of ChartOne’s employees and clients,” the company said. Terms between the two privately held firms were not disclosed.

Tuesday, September 23, 2008 Raises $3.4 Million in Third Round - Boston, MA, a Boston-based, online service that allows users to swap books, CDs, DVDs and video games, has raised about $3.4 million in its third round of venture capital, which was led by Safeguard Scientifics, a Pennsylvania-based investment firm. allows users to add items they would like to trade to their "have list", and put items they would like to receive on their "want list." Its trading engine shows the user all the items they can receive in return for the items they are trading. The only expense members incur is the cost of shipping, for which labels can be purchased and printed directly from the Swaptree website. The company says it has completed 100,000 trades since its public launch in July 2007.

Monday, September 22, 2008

CityVoter Raises $2.6 Million for Local Media City Guides - Cambridge, MA, a Cambridge-based provider of local city guides to local media companies, announced on Monday that it has closed a $2.6 million second round of financing, led by Allen & Company. Previous investor Dace Ventures also participated in the deal. Founded in 2005, CityVoter features business profiles and user-created guides, contests and recommendations on more than 55 cities. The company's guides are used by more than 20 partners, including Belo, FOX, Gazette Communications, Hearst- Argyle, McGraw-Hill, and Post-Newsweek.

Wednesday, September 17, 2008

TruMedia Acquires Boxcar Media Social Sites for Sports - Brighton, MA

TruMedia Networks, a Brighton-based developer of social media technologies for sports fans, has acquired the online sports communities,, and from Boxcar Media, based in North Adams, Mass. The acquired media properties are all aimed at fans of Boston’s major pro sports teams: the Boston Red Sox, the Boston Celtics, the New England Patriots and the Boston Bruins. Terms of the acquisition between the two privately held firms were not disclosed.

Rapid7 Raises $7 Million from Bain Capital Ventures - Boston, MA

Rapid7, a Boston-based provider of network vulnerability management technology, announced on Wednesday that it has raised $7 million from Bain Capital Ventures, the venture capital arm of Boston-based Bain Capital. First launched in 2001, Rapid7’s products provide security for Web applications, databases and networks. “With its record of providing enormous value to more than 400 customers of all sizes and industries, we believe Rapid7 has the opportunity to continue to transform the market landscape and become the go-to technology provider for organizations seeking a superior security solution,” said Ben Nye, managing director at Bain Capital Ventures, in an announcement about the deal.

Tuesday, September 16, 2008

Punchbowl Software Raises $2.1 Million in First Round - Framingham, MA

Punchbowl Software, a Framingham-based company behind the event-planning website, announced on Tuesday that it has raised $2.1 million in its first round of venture capital, which was led by Contour Venture Partners. Intel Capital and eCoast Angels also invested in the deal. MyPunchbowl includes features for picking a date for the event, sending save-the-dates, finding supplies, communicating with guests, sending online invitations, and sharing photos and videos after the event has passed. "We've seen explosive growth since our first round of funding last year," said Matt Douglas, CEO, Punchbowl Software. "This new funding will enable us to grow our team and pursue numerous market opportunities."

Ounce Labs Raises $7.5 Million in Venture Capital - Waltham, MA

Ounce Labs, a provider of security source code analysis technology, has raised $7.5 million in a round of venture capital that was led by Greylock Partners and Commonweath Capital Ventures. Ounce Labs' technology analyzes a range of applications, identifying and prioritizing security vulnerabilities. Its customers include EDS, IBM, Intel, the U.S. Government Accountability Office, Unisys and VeriSign, among others. Ounce Labs was founded in 2002.

Monday, September 15, 2008

Wiggio raises Seed round of funding - Cambridge, MA

Wiggio, a start-up focused on collaboration tools targeting college students, raises a seed round of funding.

Cambridge Technology to Acquire Protégé Software - Cambridge, MA

Cambridge Technology Enterprises, a provider of software to mid-size corporate operations, announced on Monday that it will acquire Protege Software Services, a Woburn-based provider of Oracle software products and services. Terms of the cash and stock deal between the two privately held firms were not disclosed. The agreement is subjected to the approval of the shareholders of the company and necessary regulatory approval. Protégé was founded in 1993.

406 Ventures Invests in Ambient Devices - Cambridge, MA

Ambient Devices, a Cambridge-based provider of wireless technologies that support the display of dynamic information, such as weather forecasts, stock market reports, sports scores, announced on Monday that .406 Ventures, a Boston-based firm, has invested in the company. Terms of the deal were not disclosed. Ambient Devices was founded in 2001, based on technology developed at the MIT Media Lab. The company’s founders, Pritesh Gandhi, COO, and Ben Resner, CTO, will continue to lead the company, the announcement said.

Tuesday, September 09, 2008

The Echo Nest Corp. Raises First Round of Venture Capital - Somerville, MA

The Echo Nest, a Somerville-based provider of music search, recommendation and interactivity technology to online music companies, announced that it has raised its first round of venture capital, which was led by Commonwealth Capital Ventures and some angel investors. Terms were not disclosed. The Echo Nest offers an online "Musical Brain," a machine learning platform that reads about music and listens to music on the web. The company is co-founded by two MIT Media Lab PhDs, Brian Whitman and Tristan Jehan. Echo Nest is a three-time National Science Foundation grant winner.

Monday, September 08, 2008 Raises $1 Million from Swiss Angel Investor - Cambridge, MA, the Cambridge-based provider of a social network for “virtual investing,” has raised a $1 million investment from Switzerland-based angel investor Joachim Schoss. provides a platform for investors to improve their skills through collaboration and competition, with no risk of losing money. The company was founded by three Harvard entrepreneurs. Schoss previously founded TellSell Consulting and Telcare, which merged with Sykes Enterprises. In 2004, his company Scout24 was acquired by T-Online for $221 million and he is currently the main investor of 6S Capital.

Carbonite Raises $20 Million in Third Round - Boston, MA

Carbonite, a Boston-based provider of online backup services for consumers and small businesses, announced on Monday that it has raised $20 million in its third round of venture capital, which was led by Performance Equity of Stamford, Conn.   Founded in 2005, Carbonite launched its online backup service in May 2006. The company offers unlimited backup space for a flat fee. Carbonite says it has backed up more than 4 billion files so far, has restored more than 300 million lost files for its customers. Other investors in the company include Menlo Ventures, 3i, and Common Angels Fund.

Tuesday, September 02, 2008

Virtual Computer Launches - Westford, MA

Founded in 2007, Virtual Computer offers technology designed to protect against data loss and theft of geographically distributed PCs. The company disclosed on Tuesday that Highland Capital Partners and Flybridge Capital Partners invested in its first round of venture capital, terms of which were not disclosed.

Greenfield Online to be Acquired by Microsoft for $486 Million - Wilton, CT

Greenfield Online, a Wilton-based, global interactive media and services company that collects consumer attitudes about products and services, announced it has agreed to be acquired by Microsoft for $486 million. In addition, Greenfield announced that it has terminated its previously announced merger agreement with Quadrangle Group, requiring Greenfield to pay Quadrangle a $5 million fee. Also, Microsoft has entered into an agreement to sell the assets of Greenfield Online's Internet survey solutions (ISS) business to an unnamed investment firm. The merger of Greenfield Online and Microsoft and Microsoft's sale of the ISS business are expected to close simultaneously in the fourth quarter of 2008.

B4 Consulting to be acquired by Sumisho Computer Systems - Waltham, MA

B4 Consulting Inc. reports that Sumisho Computer Systems Inc. plans to acquire B4 Consulting and operate it as a U.S.-based subsidiary. Waltham-based B4 provides business performance management, implementation and support services for SAP products.