Despite BostInno’s Boston Business Wrap being absent last week, the Boston tech and innovation scene kept chugging steadily along. From executive appointments, to personal-best funding rounds, to brand new business ventures, Boston lived up to its reputation as one of the nation’s leading cities in commerce and industry. What follows are some of the most noteworthy headlines in the Hub over the past week.
Carbonite Inc Co-Founders Raise $3.2M For New SageCloud Inc.
Jeff Flowers and Dave Friend are seasoned vets when it comes to starting a company. After successfully launching Carbonite Inc. in 2005, a Boston data storage company, Flowers and Friend have once again consolidated all of their knowledge and experience to begin a new business venture. With a $3.2 million equity investment, the duo are launching SageCloud Inc. As noted by MassHighTech, the company is still without website, office space, or reachable phone number. The funding comes from 9 investors, none of whom are listed on the filing. The filing does note, however, that Flowers (no longer with Carbonite) will act as President and Treasurer while Friend (still CEO of Carbonite) is listed as a director.
OpenExchange Snags $3.1M in Largest Round To Date
On Tuesday OpenExchange Inc. announced their largest funding round yet, receiving $3.1 million out of a $6 million offering. OpenExchange is a software-as-a-service provider that combines desktop video with applications designed for the highly-regulated financial services industry. Basically, they’re a social network platform for financial executives. The round is funded from 20 unnamed investors, though it is noted that Enterprise Securities Company–based out of Michigan–brokered the deal and earned $25K in sales commissions. Incorporated in 2009, the company now deals under the moniker OpenExchange Communications.
Waltham-Based Precision Ventures Pulls In $780K From 36 Investors
Out of the tech savvy Boston suburb of Waltham, co-founders Joshua Wiesman and Hari Sundram are preparing to launch Precision Ventures LLC. The company, which recently raised $780,000 in venture capital, will specialize in medical and consumer products described as highly consumable and often disposable. The investment comes from 36 backers, one of which has been identified as Springfield, MA-based River Valley Investors. MassHighTech duly notes that according to the filing, $146,000 of the $780,000 investment is earmarked be used to pay salaries.
NuoDB Releases Beta 8 Database, Receives Patent in Mere 15 Months
NuoDB, located in Cambridge, released their highly anticipated storage solution Beta 8 yesterday. Just as impressive as the software, NuoDB received a patent for the database software from the United States Patent and Trademark Office (USPTO) in a quick 15 months. To put it in perspective, the average wait time for a patent is 34 months. Beta 8 boasts a range of improvements including new platform support for Oracle Solaris, an enhanced command line administrative tool to enable the creation of automated scripts for NuoDB database operation, and more complete support for the top ORM tools, such as Hibernate for Java and Active Record for Ruby on Rails.
BetaBait Launches AppAi.de for iOS Devices
Only recently launched back in January, BetaBait has just released its first iOS app called AppAi.de. The free app lets the user see which other apps are being used by the AppAi.de community in real-time. BetaBait is a web platform designed to help startups find beta testers by connecting them with early adopters. The company is based out of Bridgeport, CT. BetaBait features a client list of over 1,000 startups and over 5,000 early adopters.
ResearchGate to Measure Scientific Reputation with New RG Score
With offices in Cambridge and Berlin, Germany, ResearchGate is steadily building its international esteem. The release of their new reputation rating system, RG Score, looks to bolster that. Publishing scientific discoveries and articles can take years before they come into fruition. Researchers are now able to publish their results in real-time, benefit from the immediate feedback of their peers and, through the RG Score, turn all of their work into a source of reputation. The RG Score system is based on how the scientific community interacts with a researcher’s content, how often they interact with that content, and who is doing the interacting. There are no restrictions on what can be published on ResearchGate or what can be factored into an RG Score.
iRobot Taps Former BAE Systems Exec as Head of Defense & Security Business Unit
iRobot announced on Tuesday that Frank Wilson will bring his 25 years of aerospace and defense industry experience over to the Bedford-based robotics leader. Formerly of BAE Electronic Systems, Wilson will lead iRobot’s Defense & Security business unit as the new senior vice president and general manager. Wilson said in the press release, “It is an honor to join iRobot and contribute to the continued success and growth of the Defense & Security business unit. “I look forward to leveraging my experience and contacts to help iRobot further its strategy of meeting the ever-changing needs of today’s warfighter and providing unmanned systems that are an integral part of the military’s future.”
HealthEdge Appoints Dan Welch as COO
A leader in software platforms for the healthcare industry, HealthEdge announced on Tuesday that they’ve found a new COO. Bringing over 30 years of operations experience to the Burlington, MA company, Welch will oversee all company operations, ensuring customers continue to receive the best products and services in the healthcare payor IT marketplace. HealthEdge CEO Rob Gillette said of Welch, Dan is a seasoned executive who brings a unique set of skills to our executive team. HealthEdge is facing an exceptional opportunity to play a significant role in the transformation that is currently underway in the industry. Dan’s experience will ensure that HealthEdge remains at the forefront of the healthcare revolution.”
Richard Dale Splits From Sigma Partners to Start Big Data Boston
Hoping to build on the “big data” craze in Boston, a former principal at Sigma Partners, Richard Dale, is in the beginning stages of creating his own VC firm. Aptly dubbed Big Data Boston, the venture capital company will invest solely in software and services startups, not hardware companies. A recent article by the Boston Globe’s Scott Kirsner notes that Dale is yet willing to comment on the fundraising efforts for his new company. Dale left Sigma on mutual terms with the East and West coast-based venture firm and the three managing directors at Sigma have all pledged to invest in Big Data Boston.
NaviNet Names Frank Ingari as New CEO
One of the nation’s largest real-time communication network for physicians, hospitals, and health insurers, NaviNet has named Frank Ingari as its new CEO. Prior to taking up the position at NaviNet, Ingari acted as CEO of Essence Healthcare Inc., one of the highest-rated Medicare Advantage plans in the United States. A humbled Ingari said in the press release, “I am honored to lead NaviNet. As the largest healthcare network in the United States, NaviNet is positioned uniquely to power the coordination essential to value-based care. NaviNet’s multi-payer portal offers the only widely accepted platform to enable health plans, clinician offices, and hospital systems to communicate securely and effectively with administrative, care coordination, and clinical professionals.”
Microsoft NERD vets release Spindle for iPhone
The BBJ reports on the release of a new app by Spindle Labs, a bunch of Microsoft NERD veterans. The app provides users “with a newsfeed of local happenings, including posts from businesses and points of interest in the immediate area.”
Breakaway Ventures is fundraising under a new name
Also from BBJ: “Breakaway Ventures will market its second fund as Breakaway Innovation Group, CEODennis Baldwin says.”
