Boston Tech Watch: Terrafugia, Akamai, Brightcove, Zaius & More
It’s time to catch up on some of the latest Boston tech news:
—Zaius, a Boston-based marketing technology startup, said it pulled in a $ 30 million investment, bringing its venture capital haul to $ 50.8 million. Insight Venture Partners led the Series B funding round, and earlier Zaius backers Matrix Partners, Underscore VC, and Leaders Fund also contributed. Zaius makes customer relationship management software for businesses that market products and services directly to consumers.
—In other marketing tech funding news, Boston-based Crayon announced it received $5 million in venture funding led by Baseline Ventures, along with Founder Collective, Converge, and individual investors. Crayon was founded in 2015 by former HubSpot (NYSE: HUBS) and AdMob executives. Its software helps businesses track the sales and marketing tactics and other noteworthy actions of their competitors, customers, and partners.
—Cambridge, MA-based Tive raised $1.9 million from investors, according to an SEC filing. The startup helps customers track and manage the supply chain of goods using sensors and software. Tive raised a $3.1 million seed funding round last year, after completing the Techstars Boston startup accelerator program.
—Terrafugia, the Woburn, MA-based company that has been developing flying car technology since 2006, is on a hiring spree under its new owner, China-based automotive manufacturer Zhejiang Geely Holding Group. Terrafugia hired 75 people in the past year and intends to add at least 50 more by the end of 2018, the Boston Business Journal reported. The company had fewer than 20 employees a year ago, according to the Business Journal. Terrafugia’s website says the company intends to begin delivering its first product to customers within three years, although previously stated timelines have been delayed.
—Boston-based online video hosting and marketing company Brightcove (NASDAQ: BCOV) named Jeff Ray as its CEO and added Ray, former FCC chairman Tom Wheeler, and former Viacom executive Kristin Frank to the company’s board, according to an SEC filing.
Ray succeeds interim CEO Andy Feinberg, who held that role for the past nine months while Brightcove sought a permanent chief executive to replace David Mendels. Ray has held executive roles at Ellucian, Ventyx (acquired by ABB), DS SolidWorks, Progress Software, and Compuware.
—Cambridge-based Akamai Technologies (NASDAQ: AKAM) announced it established a $50 million endowment for The Akamai Foundation, an 18-year-old organization that supports K-12 mathematics programs.
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