Photo Credit: DenisTangneyJr
At the end of every month, we recap the biggest tech and startup happenings in Rhode Island. We have an archive of past roundups here. To get this info weekly (Tuesday afternoons, to be exact), sign up for the Rhode Island Inno Beat newsletter.
Let’s take a look.
- The Ocean State may finally have a “unicorn” company — a privately owned organization valued at $1 billion or more — to call its own. The Los Angeles and London-based private equity firm Marlin Equity Partners has reportedly begun looking for buyers for Virgin Pulse, the employee wellness company headquartered in Providence. According to some sources close to the matter in a PE Hub report, the deal could value the company at more than $2 billion. Marlin brought on Morgan Stanley to advise on the forthcoming transactions, which are set to begin next month.
- Earlier this month, Virgin Pulse acquired global digital therapeutics company Blue Mesa Health. While terms of the deal were not disclosed, a release on the move said Virgin Pulse will use of Blue Mesa’s tech to expand its Homebase for Health strategy.
- Rhode Island companies raised nearly $61.5 million in 2019, thanks to 21 deals. That’s nearly $12 million more than last year’s earnings, which saw $49.61 million raised over 18 deals. These stats are courtesy PitchBook and the National Venture Capital Association‘s new report, which studies funding moves in metro service areas, regions and states.
- Troy, N.Y.-based Aurelius Coworks announced that it is making its first moves out of the Empire State with the Westwey Club, a coworking and flexible office space in Providence that’s expected to open in early 2020. It will be the company’s third community, joining the Troy Innovation Garage and the Bull Moose Club in Albany, N.Y.
- Danish offshore wind company Ørsted announced that it will launch a new U.S. innovation hub in Providence’s Cambridge Innovation Center this spring. There, a rotating team from both Denmark, and the company’s North American headquarters will develop innovative concepts relating to the offshore wind industry.
- A pair of Bryant University students have launched a new app to help independent artists manage their careers without a manager. Artist Republik is a decentralized networking platform for music businesses that allows independent music artists to manage, market and book themselves, as well as grow their social profiles. The company has an 11,000-person waiting list.
- The mattress company Casper filed for an IPO on Jan. 10. Inc. wrote a story about why Casper’s IPO could keep investors up at night. This will be of interest for the company’s founders Neil Parikh and Luke Sherwin, who were grads of Brown University, class of 2011 and 2012, respectively.
- Governing Magazine did an article on Rhode Island’s autonomous car pilot and how it shows promise for the nation’s future.
- Rhode Island Inno is bringing back Tech Madness to bring the tech and startup communities together for some healthy competition, bracket-style. Nominations opened this month. Submit them here.
- Rhody Inno announced its third annual Inno on Fire award recipients this month. Inno on Fire acknowledges the startups, companies, entrepreneurs and other organizations that bolster the local tech and startup community. Winners include Buppy Pets, Feast & Fettle and Aquanis. Lt. Gov. Dan McKee will be speaking at the event Feb. 12.
