Shereen Shermak, angel investor and venture capitalist, recently told BostInno that Boston is experiencing a resurgence of financial technology startups. The surge is credited to the rise in technologies like machine learning, blockchain and large institutions acquiring local companies such as LoopPay and Paydiant. From international payments solutions to easy-to-pay insurance apps to student loan payments technologies, BostInno outlines the top 14 fintech startups making big moves in the city. Here’s what else happened in the Boston startup community this week:
With dreams of following in the footsteps of tech giants like HubSpot and Constant Contact, the number of digital marketing and sales startups in Boston is on the rise. In an interview with the BBJ, CabinetM co-founder and CEO Anita Brearton noted that the marketing landscape is very complex. Marketers are buying hundreds of different pieces of marketing technologies and trying to knit them all together. CabientM, a Boston-based software startup that helps markets manage their technology stacks, helped the BBJ create a list of the top 10 up and coming sales and marketing startups to watch in the city.
BostInno’s WorkXPlay series panel last week featured Nilanjana Bhowmik, co-founder and general partner of Converge; Larry Begley, CFO at CloudHealth Technologies; Jennifer Lum, co-founder and COO at Forge.AI and William Sorenson, CFO at Enernoc. The panel answered one key question, “How do startups get through the initial burst of growth and continue to scale?” BostInno outlined seven key takeaways from the night.
Cambridge-based Atlas Venture announced it closed a new $350 million fund to invest in early stage biotech companies. Bruce Booth, Atlas partner, noted in a company blog post that, “With the closing of Fund XI, we’re focused on continuing to deliver on our mission: doing well by doing good. Advancing transformative therapies for patients is incredibly motivating – it’s the exciting purpose that gets us all out of bed in the morning. And, over the long term, there’s a tight correlation in the biopharma sector between having real impact on patients’ lives and generating attractive investment returns. It’s the essence of our mission.”
Catalant, formerly HourlyNerd, helps companies connect with and hire business experts to consultant and work on projects, raised $41 million in Series D led by Highland Capital and General Catalyst. The company’s global network has more than 40,000 freelancers and boutique consulting firms. Catalant says it will invest the new funds in product development and sales and marketing. The company currently employs 130 people, with plans to grow to 200 employees by the end of the year.
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