DataRobot, Brightcove, Namogoo, Shelf & More New England Tech News
Here are some recent headlines from New England’s tech scene, including a leadership shakeup at Brightcove, more money for fast-growing data science software startup DataRobot, and investments in a pair of Connecticut companies. Read on for details.
—Brightcove CEO David Mendels resigned from the online video hosting and marketing company in a “mutual agreement” with the board of directors, according to an SEC filing. Andrew Feinberg, the company’s president and chief operating officer, was named acting chief executive.
A Brightcove spokesman told BostInno that Mendels’s departure was primarily a response to the company’s “stagnant” stock price. Brightcove’s shares (NASDAQ: BCOV) have mostly been trading below $7 in recent weeks, down from more than $13 in August 2016.
—DataRobot’s recently announced funding round topped out at $67.2 million, according to a new SEC filing. That amount includes $54 million announced in March, said Tim Young, the company’s vice president of marketing. DataRobot’s investors include New Enterprise Associates, Accomplice, and Intel Capital.
—Cybersecurity startup Namogoo said it raised $8 million in a Series A funding round, and it will primarily use the capital to establish its U.S. headquarters in Boston. Namogoo was founded in Israel, where its global head office is located, a spokesman said. It also has an office in San Francisco, according to a press release.
The round was led by GreatPoint Ventures, with contributions from Blumberg Capital and Inimiti.
Namogoo’s software aims to identify and block unauthorized product ads placed on e-commerce websites by what it calls online “hawkers”—“outside merchants who nest shady product advertisements and deceptive links that lure shoppers in or drive them away,” according to the press release.
—Signature Medical, a portfolio company of Boston-based venture creation firm Allied Minds, raised $2.5 million in a Series A funding round backed by Allied Minds, Bose, and Riot Ventures. Signature Medical said it’s developing a wearable device for monitoring heart failure patients based on sound.
—Stamford, CT-based Shelf snagged $2.2 million in seed funding from SeedInvest, Connecticut Innovations, and New York Angels, according to VentureBeat. Shelf’s software helps companies organize and share their content, such as documents and e-mail messages.
—In other Connecticut startup funding news, marketing software firm The Big Willow raised just over $1 million in convertible debt financing, an SEC filing shows. The round was led by Connecticut Innovations and Stonehenge Growth Capital, according to a press release.
—Sovos, a Wilmington, MA-based maker of global tax compliance and reporting software, said it acquired Paperless, a Chile-based firm that processes transactions and provides other electronic document services for global retailers, manufacturers, and other businesses. The purchase price wasn’t disclosed. Sovos is owned by London-based HgCapital and Vista Equity Partners.
—Two companies that provide software to manage intellectual property—Boston-based Anaqua and Fremont, CA-based Lecorpio—announced that they are merging. The deal price wasn’t disclosed.