Boston Tech Deal Roundup: Akamai, Cengage, Mautic, Skedaddle, & More
[Updated 9/30/16, 3:34 pm. See below.] September was a busy month for tech startup funding and acquisition news in the Boston area. Here are a few of the latest deals that you might’ve missed:
—Building Engines, a Waltham, MA-based seller of property management software, disclosed in an SEC filing that it raised $ 26.5 million from investors. [This paragraph added.]
—Cambridge, MA-based Akamai Technologies (NASDAQ: AKAM) acquired data processing startup Concord Systems for an undisclosed price. New York-based Concord was founded in 2014.
Meanwhile, Akamai’s plans for a new headquarters in Kendall Square moved forward. The state approved a $ 700,000 tax break for the expansion project. In exchange, Akamai is expected to add 700 jobs in the next five years. A member of the state’s Economic Assistance Coordinating Council—which approves tax subsidies—questioned the deal, noting that Akamai paid about $ 450 in state corporate taxes last year, according to a report by the Boston Herald.
—Boston-based Cengage acquired WebAssign, a Raleigh, NC-based company whose software helps teachers manage online assignments and assessments for higher education courses.
—Mautic, which sells marketing automation tools built with open-source software, raised $ 5 million in a Series A round led by G20 Ventures and Underscore.VC, a new Boston venture fund. The two investors put $ 600,000 into Mautic earlier this year—Underscore’s first investment. Mautic recently moved its headquarters to Boston from Raleigh, NC, where it maintains an office.
—Boston-based Skedaddle raised over $ 2 million in funding led by Arena Ventures, according to BostInno. The startup’s app helps arrange private bus trips for groups of people who are trying to get out of town and going to the same destination.
—Windesco raised $ 2.1 million from investors, according to a filing with the SEC. The two-year-old Boston startup’s website is sparse, but the company appears to be working on cloud-based software to manage turbines in wind farms.
—SidelineSwap, a New York-based startup that also has employees in Boston, raised $ 1.5 million in seed funding and plans to move all of its staff members to Boston in the coming months, according to BostInno. The company runs a website for buying and selling used sports gear. It was a finalist in the MassChallenge Boston accelerator program last year.
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