Boston Startup Community News & Content

Nation’s largest insurer invests in Waltham healthcare AI startup

A venture capital firm tied to the largest health insurer in the U.S., UnitedHealth Group, has invested in a local startup working to avoid unnecessary drug costs.

Feb 20, Boston Business Journal

MassMEDIC Expands Virtual Accelerator for MedTech Startups

The Massachusetts Medical Device Industry Council (MassMEDIC) announced today that the MedTech IGNITE program is now accepting applications from startup founders and CEOs to participate in the 2020 IGNITE Cohort. The MedTech IGNITE Program is a virtual accelerator offering an experiential training, mentorship and networking curriculum, to attract and nurture the next generation of Boston-area medtech founders

Feb 19, PR Web

Retail optimization startup Teikametrics raises $15M as it expands beyond Amazon and beyond ads

Teikametrics, a startup that helps retailers optimize their online ad spending, has raised $15 million in additional funding. The company launched with the goal of helping Amazon sellers advertise more effectively. More recently, it launched a similar partnership with Walmart. CEO Alasdair McLean-Foreman said that on both platforms, the startup’s Flywheel platform can improve the ad-buying

Feb 19, TechCrunch

This Seaport Startup Is Sending Subsea Robots to Inspect and Clean Oil Tanks

The Occupational Safety and Health Administration lists a number of hazards for workers that conduct inspections at oil and gas tanks. These include fire, explosion, asphyxiation, toxicity, entrapment, falls and physical and chemical hazards including steam, heat, noise, cold and electrical shock. Is this a job that could use robotic automation? One Seaport District startup thinks so.

Feb 19, BostInno

For ‘angel’ investors, tax credit program has been hellish

John Stempeck estimates that he invests about $100,000 a year in Massachusetts life sciences and tech startups. So when the state approved a tax break in 2016 of up to $50,000 annually to early backers of such risky ventures, he was delighted. Eager to lower his tax bill, the retired Reading management consultant got his

Feb 18, The Boston Globe

Boston’s year jump starts as two local startups raise $520M in two rounds

Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between. Late last week two Boston-based companies raised big rounds. The size of the two investments — each over the $100 million mark — and their rapid succession made them stand out. The pair of investments raised

Feb 17, TechCrunch

Circle Looks to Sell Broker-Dealer SeedInvest, Focus on Stablecoin

Based in Boston, Circle is a peer-to-peer payments technology company founded in 2013. The company’s payment app — Circle Pay — allows users to send, receive, and hold traditional fiat currencies. In 2018, Circle acquired Poloniex for $400 million. In the same year, Circle acquired crowdfunding giant SeedInvest. At the time of the acquisition, SeedInvest had helped startups raise over

Feb 14, The Tokenist

Boston’s Newest Unicorn: Flywire Raises $120M In Goldman Sachs-Led Series E

Flywire, a Boston-based vertical payments startup, has raised $120 million in a Series E round that takes its valuation to “over $1 billion.” Goldman Sachs (which has been ramping up its startup investment as of late) led the round, which also included participation from Tiger Management and Adage Capital Management along with existing backer Temasek

Feb 14, Crunchbase News

Wayfair lays off 550 employees, including 350 in Boston

Wayfair, the city’s fastest-growing tech company, announced on Thursday that it was laying off 550 employees worldwide, as its chief executive acknowledged the company had grown too quickly and become inefficient at a time when its prodigious sales growth showed signs of slowing. The company said it was laying off 350 people in its Boston

Feb 13, The Boston Globe

Money, Ideas, and Talent Are Key Resources for Entrepreneurs. This Cambridge Innovation Hub Is Unlocking Them

When it comes to nurturing the next generation of entrepreneurs, don’t overlook the value of collisions. That’s the guiding principle behind the Cambridge Innovation Center, or CIC, a 20-year-old co-working space optimized to encourage the exchange of ideas and expertise among entrepreneurs. It is the key reason CIC has managed to expand and thrive, while competitors like WeWork have

Feb 12, Inc.