Boston Roundup: Pursway, Logentries, Paydiant, Healthrageous
Updated 4 pm
Some fundraising, customer announcement, and shutdown news from Boston-area startups in several different sectors:
—Pursway, a marketing software company, has raised $7.2 million in new investment to expand its product and sales teams. The company moved from Israel to the Boston area in 2010, raising a $6 million Series A investment from Battery Ventures. The latest funding is supplied by Battery and another previous investor, Globespan Capital Partners. Pursway’s software analyzes consumer social relationships to find people who have an oversized influence on other people’s buying behaviors.
—Logentries, a data analysis startup, has raised $10 million in a Series A financing and named a new CEO. The Boston-based company—it started out at the Dogpatch Labs incubator in Dublin—is being bankrolled by Polaris Partners, along with Floodgate, Frontline Ventures, and RRE Ventures. The new CEO is Andrew Burton, who has previously worked at LogMeIn, IMlogic, and Groove Networks.
—Wellesley, MA-based Paydiant has landed a big client: Subway restaurants, which plans to use the startup’s technology for its mobile payment application. The two companies say the service will start being used in stores later this year. Last month, Paydiant announced it had raised a $15 million Series C finaning round led by an unnamed strategic investor/customer.
—Healthrageous, one of many startups working on software to reward people for maintaining their health, has shut down. MobiHealthNews has the report on the startup’s asset sale, which went to an undisclosed healthcare company. Less than a year ago, Healthrageous reported raising $6.5 million in a Series B round from North Bridge Venture Partners, Long River Ventures, and Egan-Managed Capital. It raised a total of more than $15 million over its lifespan.
—Boston’s Mobiquity, a company that provides mobile apps and related services for other businesses, is expanding to Europe with an acquisition. Mobiquity says it’s purchased Xaton, an Amsterdam-based development company, and is keeping Xaton’s 60 employees (which include 20 in India). Mobiquity clients have included CVS, Fidelity Investments, and MetLife. [Added this item.]
—Quantopian, a Boston-based online stock-trading startup, has raised $6.7 million in a Series A financing round. The investment comes from Khosla Ventures and existing backer Spark Capital. Quantopian has now raised a total of $8.8 million in private investment. Quantopian launched earlier this year and says it has some 10,000 users. [Added this item.]