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Wednesday, September 27, 2017

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The Big One

A breakdown on the day’s biggest Inno story.

Lucy: When it comes to cybersecurity firms in Boston, some names are the ones we all know about, such as Rapid7 and Carbon Black. There’s also a number of Israeli-founded cybersecurity firms operating in Boston, including CyberArkCybereason and Hexadite.

In addition to the big names, there are a lot of early-stage ventures that we’re following closely. For our list of the 12 hottest cybersecurity startups in Boston, we picked the ones that made significant moves in the last 12 to 18 months.

Three companies that made the list are:

Censio: Still in stealth mode, the company is working at the intersection of healthcare and cybersecurity, according to Keith Figlioli, a venture partner at Long River Ventures. Thanks to a recent Form D, we know that Censio has raised a $2M equity round. The company’s CEO is listed as Ed Gaudet, who was most recently a CMO at iBoss Cybersecurity and a longtime exec at Imprivata.

Edgewise Networks: Although the company publicly announced itself in July, it can already count on an impressive collection of backers, including the CEOs of some of Massachusetts’s top cybersecurity companies. Threat Stack CEO Brian Ahern, Veracode CEO Bob Brennan, former Imprivata CEO Omar Hussein and Carbon Black CEO Patrick Morley all contributed to the company’s $7M round. Based on machine learning, the technology provided by Edgewise Networks allows only trusted applications to communicate over pre-approved network paths. “Cybersecurity is a team sport,” Edgewise Networks CEO Harry Sverdlove, former CTO of Carbon Black, said in an interview with BBJ. “We recognize that there’s not going to be one silver bullet in security.”

PreVeil: The idea powering this startup is that simplifying encryption will result in more and more people using it. Based on this premise, the company offers an email service that allows professionals with no tech knowledge to send secure, encrypted emails. Co-founders are Randy Battat and Sanjeev Verma, who were former executives at Motorola and Apple, respectively. PreVeil CEO Randy Battat said that the company is working on an encrypted file sharing application that should be publicly available in one to two months.

Dylan: To see who else is on the list, don’t forget to take a look at Lucy’s full story. Read more: 12 Boston Cybersecurity Startups to Watch 

Making Moves

Inside the people, companies and organizations making moves today.

Lucy: Ginkgo BioworksInteractions and PillPack are the three Massachusetts companies that earned a spot in The Next Billion-Dollar Startups 2017 list that was published this week by Forbes. The list features 25 young U.S. companies with a strong shot at reaching a valuation of $1B or more.

Dylan: Not too long ago, Visual IQ CEO Manu Mathew told me that his Needham-based marketing intelligence company was mulling another funding round, but the company is getting acquired by New York TV ratings giant Nielsen instead. The company has over 300 employees globally and had raised $15M in funding, most of which came from Boston’s Volition Capital. Read more: Nielsen Is Acquiring Marketing Intelligence Company Visual IQ

Lucy: Watertown-based WiTricity, which works on wireless charging systems, announced an intellectual property licensing agreement with Tokyo-based automotive provider Shindengen to develop and commercialize wireless charging systems.

Dylan: HubSpot‘s having a good week after making a slew of big announcements yesterday at Inbound (more on that in Thursday’s Beat) and upgrading its financial outlook for Q3. That last item prompted the Cambridge marketing tech company’s stock price to go up more than 10%. It upgraded Q3 revenue guidance on the high end from $93.8M to $96.9M, and it’s getting closer to profitability with a projected $1.2M loss, as BBJ reported.

HubSpot hosted Michelle Obama as Inbound’s keynote speaker this morning. Journalists, including me, were told last night that we would be barred from covering it, which HubSpot said came from Obama’s team and the Secret Service. But Inbound attendees ended up tweeting Obama’s speech anyway, so… *shruggie emoji* 



In The Know

The Inno stories you need to read today.

Amazon CEO Jeff Bezos has never lived or worked here, but he sure knows a lot about Boston [Globe]

Seattle self-driving tech startup pulls into new Boston office [BBJ]

How M.Gemi turned its physical stores into data troves [Digiday]

New Money

Your daily funding roundup.

Dylan: Jobcase, a Boston social media platform focused on job placement for blue-collar workers, just raised a $7M Series A round led by Savano Capital Partners. The company has 115 employees, most of which are software engineers, data analysts and data scientists. The platform now has over 75M registered users.

Lucy: Boston-based surgical analytics and integration services company Caresyntax raised $11.9M from Norgine Ventures.

Dylan: New startup alert: Solo.io, which was founded by former Dell EMC executive Idit Levine, has raised $2.5M out of a $3M equity offering, according to a new Form D. On its website, the startup says its still in stealth mode, even though the website has quite a few details, including its mission of streamlining the cloud stack. Levine was most recently CTO of Dell EMC’s Cloud Management division.

Player Personnel

Who’s moving where.

Dylan: Wayfair has landed Keith DuFresne as its new head of product design. He was previously Priceline’s head of product.

Lucy: Bill Simon is joining Drizly as the first independent director named to the company’s board of directors. Simon is the former president and CEO of Walmart.

Dylan: Edgewise Networks, which I mentioned in my State of Cybersecurity in Boston feature from Monday, has hired Tom Hickman as VP of engineering and Nagraj Seshadri as VP of marketing. Hickman previously had leadership roles at Veracode and Iron Mountain. Seshadri was most recently at Recorded Future.

Lucy: David Krauter just became CEO of Paint Nite. Formerly, he was president at Smarter Travel, a TripAdvisor company.



CoreSite: Systems fail. Mistakes happen. It’s how you plan ahead and recover that matters. The shift to XaaS and mobile applications means that 100 percent uptime is literally mission-critical. Fortunately, foundational cloud technologies are maturing, and that includes business continuity/disaster recovery (BC/DR) strategies. Read more: Avoid Downtime – 3 Types of Cloud and Colocation Models to Know 

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Meet The Authors

Dylan Martin
dmartin@americaninno.com

Lucia Maffei
lmaffei@americaninno.com

Kyle Gross
kgross@americaninno.com

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