Boston Tech Raised $120M+ Last Week
Dog DNA, Cyber Security, Addiction Treatment, and More
Happy Monday!
No big updates — thanks for tuning in :)
Stuff I’m Reading:
Datarobot confirms its $300M Series G & acquisition of Algorithmia
‘A Tesla for every referral’ as start-ups buy Amazon’s top sellers
Scott Kirsner on where Boston startups are spending their funding
Why Early Hype is Dangerous in Consumer Social — Sarah Tavel
‘Inside Rounds’ Used to Be Bad. Sequoia & WhatsApp Changed Venture Forever
NBT on the reasons and costs of the hyper-accelerated fundraising environment
Warby Parker co-founder raises $600M for fourth Boston VC fund
Boston Tech Financing Rounds:
Embark 🐕
Embark, which sells DTC canine genetic testing kits, just raised $75M in Series B funding from Softbank’s Vision Fund 2, valuing the company at $700M. Additional participation from F-Prime Capital, SV Angel, Freestyle Capital, Slow Ventures, and Third Kind Venture Capital. Similar to 23andMe, the company allows customers to submit their dog’s DNA for detailed ancestral analysis as well as a holistic screening of health risks.
Noetic Cyber 🛡️
Boston and London-based cyber threat management company Noetic Cyber just emerged out of stealth with $15M in funding led by Energy Impact Partners, with support from TenEleven Ventures, and Glasswing Ventures.
“The Massachusetts-based startup claims to be taking a new approach to the cyber asset management problem. Unlike traditional solutions, Noetic is not agent-based, instead using API aggregation and correlation to draw insights from multiple security and IT management tools.” — TechCrunch
Connie Health 👨⚕️
Connie Health, which connects its users with Medicare advisors, just raised a $13M Series A co-led by Khosla Ventures and Pittango Healthtech. The company, founded by Iora Health executives, works as a concierge for users looking to choose from dozens of available Medicare plans in their area.
Phoenix Tailings ⛏️
Techstars 2020 alum Phoenix Tailings has raised $12.1M according to a new filing. The company wants to refine and repurpose waste generated in mining processes that’s typically discarded forever. The waste is usually dumped in “Tailings Ponds” where water is passed through for re-use while mining byproducts are absorbed. They want to harvest these byproducts for precious metals that can be used in various industries.
Metrobi 🚌
Last-mile wholesale delivery company Metrobi has raised $2.3M according to a new filing. Metrobi provides couriers for businesses in the Boston area for a small base fee followed by per mile and per stop charges. The filing also lists Swoop’s founder and CTO, Simeon Simeonov.
DynamiCare Health 🏥
DynamiCare Health, a five-year old digital health platform tackling substance abuse, raised $1.5M led by Early Light Ventures. Other investors included Hyperplane VC, MEDA Angels, Brown Angels Group, and U.S. Rep. Patrick J. Kennedy. They offer a mobile app with various addiction-related digital support mechanisms like 1:1 coaching, self-guided therapies, substance testing devices, and cash rewards tied to debit cards.
VelloHealth ⚕️
Another new filing shows that VelloHealth has raised $200K. Founded by Nathaniel Weiss, the company is developing real-time care coordination software for individuals with serious mental illnesses (SMIs) who are in crisis. It helps these individuals effectively coordinate with local Assertive Community Treatment (ACT) teams.
Assertive Community Treatment (ACT) is a multidisciplinary, team-based model that provides intensive community-based and outreach-oriented services to people who experience the most severe and persistent serious mental illness. ACT team members collaborate on assessments, treatment planning, and day-to-day interventions. — VelloHealth