Boston Startup Community News & Content

Amwell bagged $194 million to keep up with the increasingly growing usage of its services

Boston-based telehealth startup Amwell, previously known as American Well, nabbed a whopping $194 million in Series C funding to keep up with its surge in demand, according to CNBC. Business Insider Intelligence The firm had raised $500 million in total prior to this — and it’ll put the latest cash infusion toward ensuring that its infrastructure can keep up

May 22, Business Insider

Health tech startup Scripta Insights takes off amid coronavirus

At just over a year old, Wellesley-based Scripta Insights, a health tech startup that exists to lower the cost of pharmacy benefits, sees a real market opportunity amid coronavirus. The startup’s flagship software is a tool called Script.AI, which uses artificial intelligence to identify where companies are overpaying for their employees’ pharmaceutical benefits. Scripta Insights

May 21, BostInno

Founder Collective barrels forward, closing its fourth and newest fund with $85 million

Founder Collective, a seed-stage fund formed 11 years ago in Cambridge, Ma., has closed its newest fund with $85 million. Earlier today, we talked with the firm’s general partners — Eric Paley, David Frankel, Micah Rosenbloom — to learn more about it. Among our first questions: whether the three are themselves the largest investors in

May 20, TechCrunch

Babson replaces Summer Venture Program with virtual accelerator

As Boston-area universities take their classes, incubator programs and even graduation ceremonies virtual, Babson College has launched “Summer Catalyst,” a 10-week virtual accelerator designed to replace the school’s renowned Summer Venture Program. The new accelerator is structured similarly to the Summer Venture Program: It includes elements like Hot Seat, office hours and dedicated advisors but

May 06, BostInno

These days, venture capitalists are taking extra precautions

Venture capital firms in Massachusetts have billions of bucks in their bank accounts. In just the past month, two local firms, General Catalyst Partners and Flagship Pioneering, announced that they had collected an additional $3.4 billion in fresh capital, which they plan to use to back fast-growing companies. Could VC firms like these be players

May 03, The Boston Globe

Anti-fragility and Biggie Smalls: how startups can pivot amid COVID-19

For Bill Aulet, managing director of MIT’s Martin Trust Center for Entrepreneurship, it’s time to do as Biggie Smalls said and “turn a negative into a positive.” Aulet is a preacher of what he calls anti-fragility, the notion that business going forward will focus not on the nuances of managerial techniques—although those will still be

Apr 30, BostInno

Worcester entrepreneur pivots restaurant app amid COVID-19 crisis

Massachusetts startup paerpay from Worcester entrepreneur Derek Canton has made a shift during the coronavirus pandemic from developing a restaurant app for dining rooms to one offering a safer and more secure method for takeout and delivery, he said during an interview on the WBJ Podcast. “Our core product was focused on on-premise dining, and

Apr 28, Worcester Business Journal

TripAdvisor cuts 900 jobs as it reduces workforce by 25 percent, closes Boston office

Needham-based TripAdvisor Inc. will cut 900 jobs worldwide and close its satellite offices in Boston and San Francisco as the coronavirus continues to wreak havoc with the travel industry. The company said Tuesday that it is eliminating 600 jobs in the United States and Canada and 300 more in other countries as part of a

Apr 28, The Boston Globe

Investors are making tough decisions on startups

For companies backed by venture capital and private equity, the pandemic has proven to be a particularly tough time to raise cash — even as many firms need a quick infusion of funds more than ever. Investors have considered as an option the federal Paycheck Protection Program, the newly created small business assistance fund that

Apr 27, The Boston Globe

How Boston Companies Are Supporting Employees During Coronavirus

Karyopharm Therapeutics, an oncology-focused pharmaceutical company based in Newton, is no stranger to how illness can take a toll on families. When coronavirus began to tighten its grip on Massachusetts about two months ago, Karyopharm was one of scores of Boston companies that sent their employees to work from home. Karyopharm’s team went a step

Apr 24, BostInno