New Money is BostInno's report on all the tech funding deals this week. Check back for updates, or get a daily dose of Boston startup funding news in The BostInno Beat: Sign up here.
RedPoint Global, Wellesley
- Amount: $12 million Series C
- Investors: Led by Grotech Ventures and WP Global Partners.
- Details: RedPoint Global is a marketing tech company that develops data management and customer engagement software, and it's using the new funds to expand operations to reach more international customers, develop partnerships and accelerate product development. Some of the company's customers include AAA National, AIG, American Express, Rite Aid and Under Armour, and the company has reported over 100 percent growth year-over-year from the past three years. "RedPoint has correctly anticipated the need for an innovative platform that can orchestrate customer engagement across any and all entities, devices and channels by optimizing customer data for actionable insights," Lawson DeVries, general partner at Grotech Ventures and RedPoint board member, said in a statement. "The company’s impressive growth so far is a hint of what lies ahead, and it was an easy decision for us to double down on our initial investment."
- Press Release
Allurion Technologies, Wellesley
- Amount: $6 million
- Investors: Led by Romulus Capital.
- Details: Allurion Technologies has developed what it calls a "procedureless gastric balloon" that can be swallowed like a pill and then expands within your stomach, helping you feel full and eat less. The new funding will be used to expand the company's presence in Europe and the Middle East. The company's gastric balloon product is currently available in the United Kingdom, France and Italy. It is tentatively scheduled to begin its U.S. trial next year. "The medical community has been looking for innovative tools like Elipse to aid in the fight against overweight and obesity," Jonathan Wecker, Allurion's CEO, said in a statement. "Without the cost and invasiveness of surgery, endoscopy and anesthesia, this new option vastly expands access to intragastric balloons."
Nift, Boston
- Amount: $3 million seed round
- Investors: Led by Spark Capital and Accomplice.
- Details: Nift is a gift card network that aims to encourage shoppers to try out new stores in their neighborhood, and it does this through gift card referrals offered by neighboring storefronts. The funding will be used to expand the startup's network of local businesses and continue developing the product. “Working with neighborhood businesses in the Boston area, we’ve developed a novel way for them to get discovered without the use of discounts, deals or advertising," Elery Pfeffer, CEO and founder of Nift, said in a statement. "And unlike other tools a business might use, there’s no cost for using Nift unless a customer walks through their door.”
- Press Release
BlueArchive, Boston
- Amount: $1.9 million
- Investors: The Form D lists 21 unnamed investors.
- Details: Not much is known about BlueArchive, but a new Form D filed on Monday indicates it's being led by Carbonite's co-founders David Friend and Jeff Flowers. Friend stepped down as CEO in late 2014, and while he and Flowers remain board members, Friend ended his term as executive chairman in February. The filing also lists Susan Pravda, managing partner at Foley & Lardner, as an executive officer and director. Flowers' LinkedIn profile lists himself as starting at BlueArchive in January 2016, and the company is described as specializing in "large scale data archiving cloud service."
- Form D
