Friday, January 30, 2009

HiWired Acquired by Radialpoint - Needham, MA

HiWired, a Needham-based provider of technology support service providers to ISPs, has been acquired by Radialpoint, a Montreal-based provider of Internet security and care services for ISPs. Terms of the deal between the two privately held firms were not disclosed. HiWired was founded in 2004. The company raised about $13 million in venture capital from Kodiak Venture Partners, North Hill Ventures, and Sigma Partners. Prior to being acquired by Radialpoint, HiWired's customers included Comcast, Cox Communications and Windstream.

Atlas Venture Raises $283 Million for New Investment Fund - Waltham, MA

Atlas Venture, a Waltham-based venture capital firm, has raised $283 million for its latest investment fund, the firm’s eighth. Atlas also announced that it has promoted Bruce Booth to partner in its life sciences group. Booth joined the company in 2005 and currently sits on the boards of Ivrea and Zafgen, and is chairman and co-founder of Miragen. The first investment made so far by Atlas’s latest fund was with CloudSwitch, a cloud computing technology start-up that is currently in stealth mode. Atlas Venture co-led the company’s $7.4 million first investment round.

Wednesday, January 28, 2009

WordStream Launches Service, Raises $4 Million in First Round - Boston, MA

WordStream, a Boston-based provider of search engine marketing services, announced on Wednesday that it has officially launched. In addition, the company disclosed that it has raised $4 million in its first round of venture capital, which came from Sigma Partners. Also, the company has named Rob Adler as its president and CEO. Adler was previously co-founder and president of CCBN, a provider of online financial services that was acquired by Thomson Financial in 2004 for about $160 million. Founded last year, WordStream offers search marketing productivity tools for paid and “natural” search engine marketing.

Tuesday, January 27, 2009

Navint Consulting Merges with Tribridge - Lowell, MA

Navint Consulting, a Lowell-based provider of business software and IT services, announced that it has merged with Tribridge, a Tampa-based provider of business software and IT services. The merger of Tribridge, with a strong presence in the southeast and central regions, and Navint, with equally solid representation in the northeast and western regions, will create a complementary, diversified IT services firm with a national footprint, according to the announcement. Terms between the two privately held firms were not disclosed.

Monday, January 26, 2009

CloudSwitch raises $7.4M - Waltham, MA

CloudSwtich, a Waltham-based developer of software for cloud computing networks, has raised $7.4 million in its first round of venture, which included participation from Matrix Partners and Atlas Partners, according to published reports. Cloud Switch is currently in “stealth mode” and not disclosing much about its business plan.

xkoto Raises $3 Million More from GrandBanks, GrowthWorks - Waltham, MA

xkoto, a Waltham-based, database virtualization company, announced on Monday that it has raised $3 million more in financing from existing investors GrandBanks Capital and GrowthWorks Canadian Fund. Founded in 2005, xkoto offers technology that allows businesses to ensure maximum scalability and availability for critical applications. Xkoto said it added several global corporations as customers last year, and closed the year with 275% growth in the fourth quarter. xkoto has now raised a total of $13 million since it was founded in 2005.

Lumigent Raises $6 Million from North Bridge Venture Partners - Acton, MA

Lumigent Technologies, an Acton-based provider of software that automates compliance reporting in heavily regulated industries, announced on Monday that it has raised $6 million in venture capital from North Bridge Venture Partners. Founded in 1999, Lumigent offers audit and compliance software that improves visibility into application data activity and maintains the integrity of business information. Its target industries financial services, healthcare, manufacturing, and government.

Virtual Computer Inc. Raises $15 Million in Second Round - Westford, MA

Virtual Computer Inc., a Westford-based developer of PC network management technology, announced on Monday that it has raised $15 million in its second round of venture capital, which was co-led by Highland Capital Partners and Flybridge Capital Partners. Founded in 2007, NxTop offers a client virtualization platform with a central management system designed to reduce PC management costs. NxTop uses virtualization technology to isolate the main components of a PC -- the hardware, operating system, applications, and user data -- allowing each to be managed independently. Citrix Systems, a provider of software application delivery technology, also participated in Virtual Computer’s latest investment round.

Friday, January 23, 2009

Centive Acquired by Xactly - Lowell, MA

Xactly, a California-based provider of sales performance management software, announced that it has acquired Centive, a privately held, Lowell-based provider of sales compensation and sales performance management software. Terms of the all-stock deal were not disclosed. Xactly said that Centive’s employees will join the combined company, which will support both companies' product platforms for a minimum of 18 months. The company will be led by Xactly's management team, and will maintain its headquarters in San Jose, Calif.

Wednesday, January 21, 2009

Dataupia adds to their second round of VC funding - Cambridge, MA

Dataupia Raises Second Round of Venture CapitalCambridge, Mass. – Dataupia, a Cambridge, Mass.-based provider of computing data management software, has raised an undisclosed amount of investment in its second round of venture capital, according to a report in PE Week, which cited a regulatory filing. The filing indicates that the round was for nearly $10 million, the report said. Dataupia previously raised around $30 million from Fairhaven Capital Partners, Polaris Venture Partners and Valhalla Partners. The company was founded in 2005 and has about 60 employees.

eIQnetworks Raises $10 Million in First Round of Venture Capital - Acton, MA

eIQnetworks, an Acton-based provider of security and compliance management software, on Wednesday announced that it recently raised $10 million round in its first round of venture capital, which was led by Venrock. Founded in 2001, eIQnetworks offers technology that fosters collaboration across security, network, data center and audit teams to more quickly isolate the root cause of security issues and ensure compliance mandates are being enforced. eIQnetworks said it will use the funding to rapidly expand its marketing, sales and product development efforts.

Mazu Networks to be Acquired for $25 Million - Cambridge, MA

Mazu Networks, a privately held, Cambridge-based provider of tools for managing business software applications, has agreed to be acquired by San Francisco-based Riverbed Technology for $25 million in cash. Founded in 2000, Mazu offers software that analyzes network traffic and provides information about the interactions and dependencies between users, applications, and systems. The company’s investors include Greylock, Matrix Partners, Pilot House Ventures, StarVest Partners, and Symantec. Listed on the Nasdaq, Riverbed offers technology designed to improve the performance of IT infrastructure.

Tuesday, January 20, 2009

Extreme Reach raises funding - Needham, MA

Extreme Reach, a Needham-based provider of software for managing video advertising, announced its official launch on Tuesday and disclosed that it has raised its first round of venture capital, which came from Village Ventures and Long River Ventures. The investment reportedly totaled $1.5 million. Extreme Reach provides a video advertising management platform that connects advertisers and agencies with thousands of media destinations and allows them to manage, deliver and track their campaigns across TV, web, and mobile networks. The company was founded by a group of former FastChannel executives.

Thursday, January 15, 2009

InterNoded Acquired by Tangoe - Waltham, MA

InterNoded, a privately held, Waltham-based provider of mobile device management software, has been acquired by Tangoe, an Orange, Conn.-based provider for managing mobile and converged communications assets. Terms of the deal were not disclosed. All current Tangoe and InterNoded locations will remain in full operation in support of the combined company’s nearly 400 customers, according to an announcement.

Wednesday, January 14, 2009

SimpleTuition Raises $6 Million in VC funding – Newton, MA

SimpleTuition Inc., a Newton, Mass.-based online student loan comparison site, has raised $6 million in Series C funding, according to a regulatory filing. Backers include Atlas Ventures, Flybridge Venture Capital and North Hill Ventures.

StreamBase raises $6M in VC funding - Lexington, MA

StreamBase Systems Inc., a Lexington, Mass.-based provider of complex event processing software, has raised around $6.24 million in Series D funding, according to a regulatory filing. Backers include Accel Partners, Bessemer Venture Partners, Highland Capital Partners and In-Q-Tel. StreamBase had previously raised around $41 million.

FirstDocs raises a new round of Venture Capital - Westwood, MA

FirstDocs has secured a new round of venture capital funding, according to a report in PE Hub. FirstDocs provides legal document automation and acceleration services for legal departments and law firms. The Foundry Group led the investment round. The company did not disclose how it would use the funding proceeds.

GlobalPost Launches Service With $8.2 Million in Backing - Boston, MA

GlobalPost, a Boston-based online media company focused on foreign news, launched on Monday, with $8.2 million in backing. The company hopes to fill the dearth of international news coverage in recent years, amid a wave of cutbacks in foreign bureaus by newspapers and media companies. TechCrunch reported that investors in the company include Amos Hofstetter, Akamai CEO Paul Sagan, and Boston Globe publisher Benjamin Taylor. GlobalPost will provide daily international news from around the world, relying on 70 correspondents in 53 countries. The company was founded by media entrepreneur Philip Balboni and foreign correspondent Charles Sennott. “We are building an international news organization for the digital age, yet with strong roots in traditional, accurate, thoughtful foreign reporting,” said Balboni.

Friday, January 09, 2009

Play Hard Sports Raises $8 Million in Second Round - Foxboro, MA

Play Hard Sports, a Foxboro-based provider of online sports game, has raised $8 million in its second round of venture capital, which was led by New Enterprise Associates, according to a report by PE Week Wire, which cited a regulatory filing. Play Hard is developing online sports games with no large downloads and no required fees to play. The company raised $5 million in its first round of venture capital last April.

Wednesday, January 07, 2009

Emptoris Sells Majority Stake to Marlin Equity Partners - Burlington, MA

Emptoris, a Burlington-based developer of supply and contract management software, said that it has landed a "significant" equity investment from the private equity firm Marlin Equity Partners. Specific financial terms were not disclosed. Marlin said that it now owns a majority stake in the company, and plans to retain its current management team, led by CEO Avner Schneur. “[The deal] provides Emptoris with a strong financial partner and the capital resources needed to fund the company's long-term growth plans," said Schneur. Emptoris' clients include Boeing, ConocoPhillips, GlaxoSmithKline, Kraft and Motorola.

RatePoint Raises $10 Million in Second Round - Needham, MA

RatePoint, a Needham-based provider of customer feedback and online reputation management services, announced on Wednesday that it has raised $10 million in its second round of venture capital, which was led by Waltham-based Castile Ventures. Founded in 2006, RatePoint helps businesses protect and build their online reputation and to leverage customer feedback for sales, marketing and customer service purposes. The company was launched by the founders of GeoTrust and is backed by a previous $6.5 million first round of venture capital led by Prism VentureWorks and .406 Ventures.

Excelergy Acquired by Nexant - Lexington, MA

Nexant, a provider of energy software and consulting services, said on Wednesday that it has paid an undisclosed sum to acquire Lexington-based Excelergy from Netherlands-based owner Brinvest. Excelergy's software is designed to streamline electronic billing, settlement and customer care processes for utilities. Nexant said that the acquisition, which will give it 45 new employees as well as clients in seven countries, will strengthen its market position in the retail energy business in North America and Europe. Excelergy's operations will be integrated with Nexant's Software & Information Systems unit, based in Arizona.

Monday, January 05, 2009

Exit41 raises $8.8M in VC funding - Andover, MA

Exit41, a maker of software to handle phone and drive-through orders for restaurants, has raised $8.8M in a series C round of VC funding. Investors: Humphrey Enterprises LLC and Fidelity Investors III LLP.

PlumChoice Raises $2 Million from Edison Venture Fund - Billerica, MA

Edison Venture Fund announced that it has invested $2 million more in PlumChoice, a Billerica-based provider of remote technology support services to the home and small business market. Founded in 2000, PlumChoice provides online support for PCs, Macs, laptops, MP3 players, PDAs, mobile devices, network devices, printers and digital cameras. Its channel partners include AT&T, Intel, Circuit City, Firedog and CA. Edison now has invested a total of $7.5 million in PlumChoice.