Zmags Raises $4.2M - Boston, MA
Zmags Inc., a provider of digital publishing software, has raised $4.2 million in Series B funding for U.S. expansion and to create a new Boston headquarters. http://www.zmags.com
UpdateLogic Raises Third Round of Financing - Southborough, MA
UpdateLogic, a Southborough-based provider of software services for digital television devices, announced that it has secured its third round of funding. The round was led by Core Capital Partners. The amount of the round was not disclosed. UpdateLogic provides software services to consumer electronics manufacturers. UpdateLogic’s platform automatically distributes software updates and other data to digital devices. The company also announced that it has significantly expanded its technology and licensing relationship with National Datacast, a commercial subsidiary of the Public Broadcasting Service.http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/05-20-2008/0004817865&EDATE=
Nuance Closes eScription Acquisition; Raises $100 Million - Burlington, MA
Nuance Communications, a Burlington-based supplier of speech technology, announced on Wednesday that it has closed its acquisition of Needham-based eScription, a provider of computer aided medical transcription software. Along with the closing of the acquisition, Nuance said it has closed its previously announced financing for $100 million with Warburg Pincus. A portion of the proceeds from the Warburg Pincus financing was used for the eScription transaction.http://www.nuance.com/dictaphone/resources/press/pressreleases/20080520_escription.asp
Ars Technica Acquired by Conde Nast for $25 Million - Malden, MA
Ars Technica, a Malden-based publisher of IT and science news and information, has been acquired by the publisher Conde Nast. According to some published reports, the deal was priced a around $25 million, which is the same amount that Conde Nast paid last year for the technology-related content publisher Wired. Ars Technica will become part of Condé Nast's WIRED Digital unit, which oversees the business operations of Reddit, WebMonkey, HotWired, and other technology information services. "Ars Technica will remain an independent publication, with the same editorial leadership in place," according to an announcement from the company. http://arstechnica.com/news.ars/post/20080519-ars-technica-acquired-by-conde-nast-the-low-down.html
HubSpot raises $12M Series B - Cambridge, MA
HubSpot secured $12 million in series B funding led by Matrix Partners, with participation from existing investor General Catalyst, who led the $5 million series A financing in July 2007. David Skok of Matrix Partners will join HubSpot's board of directors.
HubSpot will use the funding to aggressively hire sales and product staff to support its growing customer base and surplus lead flow. Since HubSpot launched its first product in 2007, its customer base has grown to nearly 400 companies ranging from small, start-up ventures to established companies. Similarly, HubSpot has doubled its number of employees to keep pace with the growing demand for HubSpot's Internet marketing system. http://www.hubspot.com/company/news/bid/4150/HubSpot-Raises-12-Million-for-SaaS-Internet-Marketing-Software
Greentech Media Raises $2.75 Million in Second Round - Cambridge, MA
Greentech Media, a Cambridge-based, online media company covering green technology news and analysis, announced on Tuesday that it has raised $2.75 million in its second round of venture capital, which was co-led by EGORA Holding and The Massachusetts Green Energy Fund. Other investors in the deal include Lightspeed Venture Partners, Northport Private Equity, and King Hill Capital. Greentech Media was founded in February 2007. The company said it will use the funds to expand its team, increase focused coverage on key greentech markets, grow its product offering, and scale up its sales efforts domestically and internationally.http://www.greentechmedia.com
Gomez Files For $80.5 Million IPO - Lexington, MA
Gomez, Inc., a Lexington-based web services company, announced late Wednesday that it has filed a registration statement with the SEC for an initial public offering of its shares. The filing said the company intends to raise up to $80.5 million. Gomez provides web services that allow customers to test their web applications during development and to monitor the applications after deployment. The company’s stock is expected to trade on The NASDAQ Global Market under the ticker symbol GOMZ. The company has received venture capital backing from AdAstra, ABS Ventures, Dolphin Equity Partners, Doughty Hanson & Co and Harbinger/Aurora Ventures. Credit Suisse and Deutsche Bank will serve as the joint book running managers for the offering.http://www.gomez.com/company/investors.php
InnoCentive Raises $6.5 Million in Second Round - Waltham, MA
InnoCentive, a Waltham-based company that has developed an online market for R&D, announced on Tuesday that it has closed $6.5 million in its second round of financing from Spencer Trask Ventures, a New York-based venture firm. InnoCentive has built an online community aimed at scientists, engineers, professionals and entrepreneurs who collaborate to provide research and development -- and solve technical issues -- for companies and organizations. Using InnoCentive, companies can submit challenges to its users, who are invited to solve the issue. If an adequate solution is provided, then the developers of the R&D are paid a financial reward. Companies and organizations using the system include Eli Lilly and Company, GlobalGiving and The Rockefeller Foundation.http://www.innocentive.com/crowd-sourcing-news/2008/05/07/innocentive-secures-65-million-in-series-b-funding-from-spencer-trask-ventures-inc/
Frame Media Raises Additional $3 Million in Funding - Wellesley, MA
Frame Media, a Boston-based wireless technology company, announced on Wednesday that it has secured an additional $3 million in funding, bringing the total investment in the company to $5.2 million. The funding was co-led by Longworth Venture Partners and CommonAngels. Frame Media's board members include Thomas Burgess, founder of Third Screen Media, and Mike DiFranza, president and founder of Captivate Network. Frame Media's platform allows digital frame owners to program the delivery of personalized content to their wireless picture frames, combining their own personal media with content from Frame Media’s library.http://www.framemedia.com/
Leostream Raises $3M Series A - Waltham, MA
Virtualization software developer Leostream Corporation has closed on $3 million in Series A funding. http://www.leostream.com
SchoolNet Conducts $12.5M Debt Round
SchoolNet Inc., a developer of educational management software, has raised a $12.5 million debt round. http://www.schoolnet.com
Certica Solutions Raises $3.3 Million in Funding Round - Wakefield, MA
Certica Solutions, a Wakefield-based provider of software for educational institutions, announced on Monday that it has closed a $3.3 million investment, led by Brook Venture Partners. The company said it will use the funding for marketing and sales efforts in the U.S. Certica's software is used by school districts for a variety of purposes, including managing IT processes, regulatory reporting and compliance issues. The company said its software is used at 16,000 public school districts in the United States.http://www.certicasolutions.com/cs-news/2008-05-05_BVP.asp
Turbine Raises $40 Million - Westwood, MA
Turbine, a Westwood-based developer and publisher of multiplayer online games, is raising a $40 million third round of venture capital financing, led by Granite Global Ventures, PEHub.com reported. Previous investors Highland Capital Partners, Polaris Venture Partners, Tudor Ventures and Columbia Capital are also participating. A regulatory filing indicates that Turbine has so far called down only $25 million of the total. Turbine, whose titles include "The Lord of the Rings Online" and "Dungeons & Dragons Online," is expected to soon announce a major shift in its strategy, although the report gives no details.http://www.turbine.com
