Tuesday, June 30, 2009

CloudSwitch Raises $8M - Burlington, MA

CloudSwitch, Inc., a developer of an innovative software appliance that delivers the power of cloud computing seamlessly and securely so enterprises can dramatically reduce cost and improve responsiveness to the business, today announced that it has added John McEleney as its Chief Executive Officer and President, and completed a second round of financing from top-tier venture capitalist firms. Led by Commonwealth Capital Ventures, the $8 million series B round includes initial investors Matrix Partners and Atlas Venture and brings the Company's total funding to more than $15 million.


Monday, June 29, 2009

XyEnterprise Acquired by SDL - Wakefield, MA

XyEnterprise, a Wakefield-based developer of XML component content management software, announced on Monday that it has been acquired by SDL, a U.K.-based provider of information management software that has its U.S. headquarters in Waltham and San Jose, Calif. Financial terms between the two privately held firms were not disclosed. XyEnterprise was founded in 1998. SDL said that the acquisition significantly expands its own product offering and technical capabilities.


Thursday, June 25, 2009

ClickFuel Raises $2.5 Million in First Round

ClickFuel, a Boston-based provider of Internet marketing services to small and mid-sized businesses, said on Thursday that it has raised $2.5 million in its first round of funding, led by Baird Venture Partners. The company said that it will use the proceeds to further expand its sales and marketing efforts, as well as extend its product line. ClickFuel was founded last year by Steve Pogorzelski, a former senior executive at Monster Worldwide, and Colby West, the co-founder of AuctionPal. "We secured this funding based on our ability to differentiate our services from those currently offered," said Pogorzelski.

Wednesday, June 17, 2009

Beaumaris Networks raises $5.3M in VC Funding - Waltham, MA

Stealth mode telecom startup, Beaumaris Networks, has raised $5.3 in venture capital funding from Charles River Ventures. Former CRV entrepreneur in residence, Conrad Clemson, is heading the company as president and CEO.

Tuesday, June 16, 2009

LogMeIn Files for IPO to Raise Estimated $123 Million - Woburn, MA

LogMeIn, a Woburn-based provider of remote-connectivity technology for Internet-enabled devices, has filed with the Securities and Exchange Commission for its initial public offering of stock to raise an estimated $123 million. Founded in 2003, LogMeIn entered into a service and marketing agreement with Intel in 2007 to jointly develop a service that delivers connectivity to computers built with Intel components. Under the four-year agreement, LogMeIn is adapting its service delivery platform to work with specific technology delivered with Intel hardware and software products. In conjunction with this agreement, Intel invested $10 million in LogMeIn, which had $17.2 million in revenue for the three months ended March 30 and a profit of $2.3 million. That compares to $9.9 million in revenue and a loss of $3.7 million in the same period a year ago. LogMeIn estimates that it will price about 7.7 million shares at $16 million in its IPO.


Thursday, June 11, 2009

Going acquired by AOL - Boston

AOL announced that it has acquired Boston-based Going, Inc., developer of a platform where users share information about local activities. Financial terms of the deals were not disclosed. "Local remains one of the most disaggregated experiences on the web today -- there’s a lot of information out there but simply no way for consumers to find it quickly and easily," said Tim Armstrong, AOL's chairman and CEO.


Tuesday, June 09, 2009

Hangout Raises $4M in Venture Capital Funding - Boston, MA

Hangout has closed $4 million in venture capital. Hangout has created online technologies for users to customize their MySpace accounts with rooms of their choice, avatars and other digital media. Investors in the round included Highland Capital Partners and Polaris Venture Partners.


Gather Inc. Raises $5.3 Million in Venture Capital - Boston, MA

Gather Inc., a Boston-based social network, announced on Tuesday that it has raised $5.3 million in a venture capital round with Allen & Co., American Public Media, Jim Manzi, former CEO of Lotus Development, Jack Connors, former CEO of Hill Holiday, Kevin McClatchy, Andrew Tobias and the Gerace family. Gather announced that it had a sales increase of 49% in the first quarter over the same period a year ago. The company’s social network helps users make new friends and form new social circles. Gather said it raised the additional capital to fund operations at its current run rate through to profitability expected in early 2010.

Monday, June 08, 2009

OutStart merges with Hot Lava Software - Boston, MA

OutStart, Inc., the leader in social business software and learning systems, has extended the reach of its solutions by merging with mobile leader Hot Lava Software, a company with applications for reaching the world's estimated 4.1 billion mobile cellular subscribers. The newly combined companies will conduct business as OutStart. Massood Zarrabian continues as CEO and president of OutStart, while Bob Sanregret, CEO of Hot Lava Software, becomes vice president of the OutStart Hot Lava Mobile business unit.


Monday, June 01, 2009

E Ink acquired by Prime View International - Cambridge, MA

Prime View International (“PVI”), a leading small and medium display provider and the world’s highest volume supplier of ePaper display modules, today announced that it has signed a definitive agreement to acquire E Ink Corporation, the leader in electronic paper display materials and intellectual property for approximately $215 million.

E Ink's technology is a main component of Amazon's very successful Kindle e-reader product.