In The Know
The Inno stories you need to read today.
Inside the people, companies and organizations making moves in Boston.
Dylan: Bullhorn, the Boston-based provider of CRM software for the recruiting industry, is changing ownership. The company announced today that Vista Equity Partners has reached an agreement to sell Bullhorn to Insight Venture Partners, which has a stake in other local companies like ezCater and SmartBear. Terms of the deal are not being disclosed, and the new investment from Insight will be used to further accelerate the company’s growth. The entire management team will stay in place once the deal closes, which is expected to happen in Q4. One interesting tidbit from the press release: Bullhorn’s revenue has quadrupled in the past five years.
Lucy: New acquisition alert. Digi International, a company in the Internet of Things space, purchased Boston-based TempAlert, which provides automated, real-time temperature monitoring services. Digi reached the deal for $45M in cash plus future earn-out incentives.
Dylan: Here’s one way to avoid venture capital when running a startup: spin it out of an existing company. That’s what happened with Explorics, a new marketing tech startup based in Manchester, N.H., that began as a software project at marketing agency GYK Antler. Read more: How to Avoid VC: Spin Your Startup Out of an Existing Company
Your daily funding roundup.
Dylan: Portal Instruments, a Cambridge-based startup that has developed a needle-free drug delivery system, has raised a $5.9M round, according to a new Form D. The startup was among two MIT-born technologies to win an award at SXSW this year.
Lucy: Devoted Health has raised nearly $62M from investors, Xconomy reported. The healthcare company was created by former athenahealth leaders.
Who’s moving where.
Dylan: Salsify has hired Steve McKenzie as its VP of sales. McKenzie previously held the same role at InsightSquared and served several senior and strategic roles at Mimecast before that.
In The Community
The events and happenings to know about tonight and this week.
Dylan: Turns out Jeff Bezos was in town last year for a swanky dinner with a number of people in the Massachusetts robotics sector. Among the people in attendance for a dinner at Liquid Art House were Daniela Rus of MIT’s CSAIL, Tom Ryden of MassRobotics and Rodney Brooks of Rethink Robotics, BBJ reported.
Lucy: I cannot even begin to list how many Boston tech events are happening this week. Tonight, for example, The Security of Things hosts its meetup starting at 7 p.m. at Akamai’s Cambridge HQ. On Thursday, artificial intelligence fans can gather at District Hall for a free panel. Read more: BostInno Approved: October’s Top Tech & Startup Events in Boston