Causemo, whose CEO/co-founder is Dave Furneaux (center), is among the local tech companies that raised funding this week. (Courtesy of Causemo)
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New Money is BostInno's report on all the funding deals out of Boston tech companies this week. As more news comes out, this post will be updated.
Thursday, August 27
Altaeros Energies (Somerville)
- Deal: Amount not disclosed
- Investors: Mitsubishi Heavy Industries, Suhail Bahwan Group
- What they do: Developer of airborne wind turbine technology
- Other details: The funding will "support the design and production of [the company's] Buoyant Airborne Turbine renewable energy and communication platform." The focus of the product is on supplying power, telecommunication and other sensing and security services to remote and off-grid customers. The funding follows Altaeros' announcement last December that it had raised $7 million from Japanese tech giant SoftBank Corp.
Just Add Cooking (Boston)
- Deal: Amount not disclosed
- Investor: Fresh Source Capital of Cambridge
- What they do: Delivers meal kits of pre-measured, locally sourced ingredients, paired with recipes that are globally inspired
- Other details: Fresh Source Capital invested "because we believe in their fantastic competitive advantage in the meal kit business within New England based on their local ingredient sourcing." Just Add Cooking plans to expand its offerings through the end of the year, providing recipe choice; vegetarian and gluten-free boxes; a variety of box sizes; varied delivery days; and new recipes inspired by chefs around the Boston area.
Wednesday, August 26
Klaviyo (Boston)
- Deal: $1.5 million
- Investors: Accomplice, David Cancel, Elias Torres, TJ Mahony
- What they do: Software for running e-commerce email campaigns, which personalizes automatic communications
- Other details: Andrew Bialecki and Ed Hallen—both previously of Adaptive Predictive Technologies—founded Klaviyo in 2012. Jon Karlen, who led the deal for Accomplice, said in a news release that “being able to run small, hyper-targeted, personalized campaigns is the holy grail for marketers.”
Onapsis (Boston)
- Deal: $13.8 million out of a planned round of $18.7 million, according to an SEC filing
- Investors: Not disclosed
- What they do: Cybersecurity software on protecting highly-sensitive applications
- Other details: Most recently the company had raised $9.58 million in funding led by .406 Ventures, in June 2014
Tuesday, August 25
Mobee (Boston)
- Deal: $5 million Series A
- Investors: Flint Capital (led the round); existing investors Stage 1 Ventures, Atlas Venture and InterWest Partners also participated
- What they do: Custom location-based data collection for retailers; provides real-time alerts "for an immediate view into brand and retail execution, performance and competition"
- Other details: Founded in 2011, Mobee had previously raised $1.1 million in funding
Causemo (Boston)
- Deal: $4 million round
- Investors: Accomplice (via its BOSS Syndicate), Furneaux Capital, Park Vale Capital, Real Ventures; also Lars Albright, Michael Katz and Mike Weider
- What they do: Software that enables donations to causes digitally; also aims to make it easy for causes to customize campaigns and reach target audiences of donors
- Other details: Causemo is currently partnered with nearly 20 organizations, including Boys & Girls Clubs of America, Children’s Miracle Network Hospitals, City Year and Save the Children. In a news release, CEO/co-founder Dave Furneaux said the startup has been launched "to transform giving into something that is extraordinarily accessible from within the apps and sites people use every day." A longtime Boston-area venture investor, Furneaux founded Kodiak Venture Partners of Wellesley in 1999.
Monday, August 24
Point Judith Capital (Boston)
- Deal: Firm has filed plans for a new fund with a total offering amount of $100 million; the fund hasn't raised any money so far
- Other details: The fund would be Point Judith's fourth, according to the BBJ. The firm focuses on making investments of between $500,000 and $3 million in a first round of funding, into software and technology-enabled services companies. Their portfolio has included Boston-area companies CoachUp, Pixability and Vee24, along with companies such as Nest (acquired by Google) and Sittercity.
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