Boston-based VC deals hit 15-year high

October 10, 2015
by Admin

By: Erin
According to PitchBook, Boston finished Q3 with more than $1.9 billion worth of capital invested in Boston-based companies, the highest in at least 15 years. That’s more than double the amount of Boston’s venture capital funding in Q3 of 2014. Due to investments last quarter, two Boston-based startups’ valuations skyrocketed. DraftKings’ valuation quadrupled from $250 to $900 million and Onapsis’ tripled from $28.6 million to $96.8 million. Below is a recap of this week’s trending conversations and news from Boston’s startup ecosystem.
BostInno: 25 Startup Founders Who Are 25 and Under
BostInno released a list of 25 Boston-based startups with founders who are under 25 and thriving.
Boston Globe: Parking garage operator takes on high-tech upstart
Kevin Leary, president of VPNE Parking Solutions, is investing in SpotLight Parking, a mobile app that allows users to identify “hotspots” or locations where valet parking service is available. Hotspots are found in front of a garage or designated valet spot near restaurants. The app connects the customer and the valet, and notifies the valet that the driver is approaching. Payment is conducted through the app and will likely cost less than the usual cost of parking garages.
Boston Business Journal: Entrepreneur joins Boston's Sigma Prime Ventures as managing director
Jere Doyle sold his performance-based marketing company Prospectiv in 2014 and became an investor and advisor to startups ranging from marketing technology Jebbit to auto repair mobile app Openbay. Dolye announced he is joining Boston venture capital firm Sigma Prime Ventures as managing director this week. Doyle holds degrees from Boston College and Harvard Business School, and he will be Sigma Prime’s fifth managing director.
BetaBoston: After laying off most of its staff, clothing resale startup Fashion Project regroups
Fashion Project, an online marketplace for gently used clothes, laid off the bulk of its staff over the summer and disconnected the main phone line, leaving many customers wondering about the lack of customer service. The company went through the Techstars Boston accelerator program in 2012 and announced $7.1 million in funding last year. The company’s two founders and Harvard Law School alumni, Anna Palmer and Christine Rizk, told BetaBoston this week that the company is still operating and looking for additional funding.
What are your favorite Boston-based stories from week? Tell us what we missed.

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