Boston Tech Watch: FrontStream, M.Gemi, Lendbuzz, Gravyty, CyberSaint
Here are some of the latest investments and acquisitions in Boston-area tech:
—Boston-based Lendbuzz grabbed a $30 million investment led by BHI USA, the U.S. division of Israel-based Bank Hapoalim Group, according to an announcement e-mailed to Xconomy. The online lending startup has raised a total of $45 million in equity and debt funding since launching in 2015, according to the announcement. Lendbuzz offers auto loans to expats, international students, and other consumers with a “thin” U.S. credit history.
—M.Gemi has raised $6 million in equity funding, according to an SEC filing. The Boston-based company sells high-end shoes and other accessories, mostly online. It previously raised at least $47.2 million in venture funding from a group of investors that includes Burda Principal Investments, Accel, General Catalyst Partners, and Forerunner Ventures.
—CyberSaint Security said it closed a $3 million round of funding co-led by Audeo Capital and BlueIO, the Boston-area startup’s founding investor. CyberSaint’s software helps companies and organizations with cybersecurity compliance and risk management. It says it has customers in biotech, education, semiconductor manufacturing, and other sectors.
—Boston-based Gravyty Technologies said it pulled in $2 million in funding from NXT Ventures, Launchpad Venture Group, John Huysmans, Stage 1 Ventures, and The Venture Capital Fund of New England. Gravyty, which spun out of Babson College two years ago, has developed machine learning-enabled software to help nonprofit organizations automate fundraising tasks.
—In other fundraising software news, Cambridge, MA-based FrontStream said it was acquired by Los Angeles-based investment firm Marlin Equity Partners. The purchase price wasn’t disclosed in a press release announcing the deal. FrontStream sells multi-purpose software that helps charities and companies run online fundraisers, process payments, and connect with donors, among other tools.