Boston Tech Watch: Puerto Rico Aid, Doc Video Games, Applause Sale
[Updated 10/10/17, 12:09 pm. See below.] This week in Boston tech, we’re tracking a bunch of acquisition news, including a hint at Applause’s possible sale price; the arrival of a video game maker for doctors; a local tech company’s efforts to bring Puerto Rico back online after Hurricane Maria; and more. Read on for details.
—A document filed with the SEC might indicate that Vista Equity Partners poured about $372 million of equity funding into Applause, the Framingham, MA-based app-testing firm it acquired in August. (The purchase price wasn’t disclosed at the time of the announcement.) The SEC filing lists Applause CEO Doron Reuveni and several Vista Equity executives. The document was spotted by Axios’s Dan Primack.
A spokeswoman for Applause declined to comment on the document.
Prior to the sale, Applause raised $115 million from investors.
—Chicago-based Level Ex said it’s opening a Boston office after closing an $11 million Series A investment led by 4490 Ventures, a Madison, WI-based venture firm. Level Ex makes mobile video games intended to hone the skills of doctors, through tasks like diagnosing and performing airway procedures on virtual patients.
—Sovos, a Wilmington, MA-based maker of global tax compliance and reporting software, announced its second acquisition in three months. Its latest deal is for FiscalReps, a U.K.-based company it acquired for an undisclosed price. In August, Sovos said it bought Chile-based Paperless; terms weren’t disclosed.
—Boston-based healthcare software company Strive Labs was acquired by WebPT, a Phoenix-based maker of rehabilitation therapy software, for an undisclosed price. Strive Labs developed StriveHub, a patient relationship management software product it sells to rehab therapy providers.
—Watertown, MA-based Dynamo Software sold a majority stake in the company to private equity firm Francisco Partners for an undisclosed price. Dynamo, formerly known as Netage Solutions, makes investment management and reporting software for the alternative assets industry.
—Dimensional Insight, a Burlington, MA-based provider of business intelligence software for industries such as healthcare and manufacturing, said it acquired Infotool Norway, one of its distributors since 1991. The price wasn’t disclosed.
—Newburyport, MA-based Clearsurance said it raised $4 million in Series A funding to boost its website that compiles crowdsourced reviews of insurance companies.
Spiro said the investment was led by Geekdom Fund, with contributions from MassVentures, Hyperplane Venture Capital, and New Harbour Partners. MassVentures vice president Jennifer Jordan will join the Spiro board, according to a press release. [This paragraph added.]
—Lastly, Lexington, MA-based Vanu donated some of its solar-powered, portable cellular network systems to Puerto Rico to help citizens communicate that they’re safe in the wake of Hurricane Maria, the Boston Globe reported. Vanu is led by Vanu Bose, son of Amar Bose, the late founder of the audio equipment maker Bose.