Boston Tech Watch: Wistia, Armored Things, TowerIQ, Cignifi & More
[Updated 7/20/18, 1:08 pm. See below.] Time to catch up on the latest Boston-area tech news:
—State Street (NYSE: STT), the financial services giant based in Boston, said it inked an agreement to acquire Charles River Systems, also known as Charles River Development, for $2.6 billion in cash. Burlington, MA-based Charles River provides investment management software and services, including data analytics tools. It generated $300 million in revenue last year, according to a press release announcing the deal. [This paragraph added.—Eds.]
—Wistia, a Cambridge, MA-based video-hosting company for businesses, said it raised $17.3 million in debt funding from Accel-KKR, which Wistia used to buy out its equity investors and stock-holding employees. Read more in a company blog post, which provides an interesting behind-the-scenes look at a decision that few venture-backed startups make.
—R4 Technologies, a Ridgefield, CT-based startup developing machine learning-powered business tools, said it closed a $20 million Series B funding round led by Pilot Growth Equity.
—TVision Insights said it raised $11.5 million in an investment led by Accomplice and Jump Capital. The deal is a mix of equity and debt funding, and it brings Boston-based TVision’s total venture capital haul to more than $21 million, a spokesperson said in an e-mail to Xconomy. The MIT spinout uses sensors and software to detect TV viewers’ eyes, in order to capture and analyze data about viewing behavior. [This paragraph added.—Eds.]
—Boston-based security startup Armored Things said it raised $5.5 million in an investment led by Glasswing Ventures and iNovia Capital, with contributions from MassVentures and others. The deal marks one of the first investments by Boston-based Glasswing, which recently raised $112 million for its debut fund. Armored Things is developing software to identify and respond to threats and attacks in both the physical and virtual worlds, through capabilities such as quarantining a device if it gets hacked, or remotely opening Internet-connected doors for police and other emergency responders.
—TowerIQ, a Boston-based insurance software startup, said it pulled in $2 million in seed funding. Hyperplane Venture Capital led the deal, and Vestigo Ventures and Clocktower Ventures also participated.
—Investors pumped $4.25 million into Cignifi, according to an SEC filing. The Cambridge-based firm provides an alternative approach to determining consumers’ creditworthiness, based on how they use their mobile phones. The company also analyzes data to help telecommunications companies with their marketing efforts.
—Spiro Technologies, a Boston-based seller of customer relationship management software, said it grabbed $1.5 million from investors, bringing its venture capital haul to more than $5 million. The round’s backers included Zelkova Ventures, NXT Ventures, Hyperplane Venture Capital, Geekdom Fund, MassVentures, and New Harbor Partners.
—Cambridge-based startup eCurv scooped up more than $3.7 million in equity funding, per an SEC filing. The company’s technology helps manage the operations of electricity-guzzling machines like refrigerators, HVAC systems, pumps, motors, and more.