Boston Tech Watch: TechSandBox, BitSight, Upserve, DBmaestro & More
Here are some of the latest headlines from the Boston-area tech sector:
—TechSandBox, a high-tech startup incubator located about 30 miles west of Boston, announced that it will shut down at the end of July due to “lack of sustainable funding.” The nonprofit opened in 2013 and helped start more than 50 companies, it said in a press release e-mailed to media outlets.
—Shaun McConnon, the CEO of cybersecurity ratings firm BitSight Technologies, has retired after five decades in the tech industry. BitSight’s president and chief operating officer, Tom Turner, is taking over as chief executive, a spokeswoman said.
—Benu Networks, a Billerica, MA-based network infrastructure startup, raised $7.6 million from investors, a new SEC filing shows.
—DBmaestro said it raised $4.5 million in a funding round led by Vertex Ventures, with contributions from earlier backers StageOne Ventures, Lool Ventures, and iAngels. DBmaestro provides tools for automating the process of managing databases as software and apps get deployed and updated. Formerly based in Houston, the company now has headquarters in Concord, MA, as well as an office in Israel.
—Vista Equity Partners invested an undisclosed amount in Upserve, a Providence, RI-based provider of restaurant software. Earlier Upserve investors, including First Round Capital and Pritzker Group Venture Capital, also contributed to the company’s latest financing round. Founded in 2009 by CEO Angus Davis, Upserve (formerly called Swipely) said it will pour the new capital into hiring, product development, and other initiatives aimed at accelerating its business growth.
—Woburn, MA-based LoyaltyExpress received an investment from private equity firm New Capital Partners. The dollar amount wasn’t disclosed. LoyaltyExpress sells marketing automation and customer relationship management software to mortgage companies and banks.