Last Week in Boston Tech Deals
Six Boston Companies Raised Over $500M
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Thanks again for tuning in. Short update today.
There were just two publicly-disclosed seed deals in Boston this week, with the rest of investment dollars coming from Later Stage/Growth Equity rounds. Check them out below:
Stuff I’m Reading:
Recurring Revenue: The Rise of an Asset Class — John Street Capital
Love it or Hate it, There’s a New Glassdoor for VCs — Biz Carson
Boston-based XRHealth Debuts VR ADHD Therapy App — VentureBeat
VC Financing Deals:
Salsify 🥕
Commerce experience platform Salsify just raised a $155M Series E led by Warburg Pincus, with participation from Underscore VC, Matrix Partners, Venrock, and Greenspring Associates. The nine-year-old company helps brands understand and control how their products are being presented to online customers on the “digital shelf.” Underscore outlined their continued excitement with the company on their blog last week.
Mirakl 🤝
France and Boston-based Mirakl just announced a $300M investment led by Permira Advisers, with participation from 83North, Bain Capital Ventures, Elaia Partners, and Felix Capital —valuing the company at $1.5B. Mirakl is a SaaS company that helps organizations launch marketplace/platform offerings for their existing services.
“In the first half of 2020, during the COVID crisis, Mirakl-powered Marketplaces generated over $1.2 billion in GMV, representing an 111% year-over-year increase. This impressive growth underscores how marketplaces provide businesses critical agility to adapt supply during crisis and a scalable and profitable revenue driver through recovery and beyond.”
PureStake 🌙
PureStake, a year-old company offering developer tools for blockchain infrastructure, just raised $1.4M in seed funding led by Hypersphere Ventures, with additional participation from TechCrunch founder Michael Arrington’s Arrington XRP Capital, HashKey, KR1, Bitcoin.com, and Du Capital. They’re focusing on building developer tools like APIs and validators on top of the Algorand and Polkadot blockchain networks. They’re also building Moonbeam, a smart contract platform for building interoperable decentralized applications.
Volly 🏡
Volly, a seven-year-old marketing tech company focusing on the mortgage industry, just raised an $11M Series B growth equity round from Camden Partners and New Capital Partners. The Woburn-based firm provides marketing automation tools, a CRM system, web design, and other marketing services to help loan officers attract and engage new leads.
MineralTree 💰
Payments automation company MineralTree just raised a $50M Series D from Great Hill Partners, .406 Ventures, and Eight Roads Ventures. Along with the funding came the announcement of their acquisitions of Inspyrus and Regal Software. MineralTree makes it easier for businesses to receive and pay invoices using cash flow optimizing Virtual Cards and a host of integrations of with leading ERPs.
MentorWorks 🎓
Needham-based MentorWorks has raised $1.25M in a deal led by Utah-based New U Venture Partners. The four-year-old company provides a platform for students to secure Income Share Agreements (ISAs) to finance higher education costs. Corporate partners can invest in these ISAs to get curated access to the student talent pool.
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