Evergage, Altaeros, Tinkergarten Among Flurry of Boston Tech Deals
Jeff Engel, August 9th, 2017
August is here, but there’s been no summer slowdown in the Boston-area tech scene. Here are four deals announced in the past day or so, which cut across marketing, education, telecommunications, and database software:
—Evergage, the Somerville, MA-based marketing technology firm, snapped up $ 10 million in a Series C funding round led by Arrowroot Capital, with contributions from G20 Ventures and PJC. If you feel like you’re having déjà vu, that’s because Evergage raised a $ 10 million Series B round last year from the same investors. The company said its venture capital haul is now $ 31.5 million.
Evergage created a cloud-based marketing software platform that tracks consumer behavior and data in order to promote relevant products and content, and to serve up personalized recommendations in real-time. Its customers include Intuit, Publishers Clearing House, and Lenovo.
Evergage said it plans to invest in hiring and international expansion.
—SoftBank Group has pumped another $7.5 million into Altaeros Energies, also based in Somerville. The money will be used to help Altaeros begin deploying its tethered aerostats—helium gas-filled blimps—next year, which carry equipment for delivering broadband access to rural communities. SoftBank invested $7 million in Altaeros in 2014 to help advance the startup’s airborne wind turbines for generating renewable energy, as Xconomy previously reported.
The telecommunications-focused aerostat, dubbed the SuperTower, can provide wireless coverage equivalent to a network of up to 30 conventional cell towers, the company claims in a press release e-mailed to Xconomy. Once deployed, the aerostat hangs around 800 feet above the ground.
Altaeros was founded in 2010 at MIT and is now located at the Greentown Labs cleantech incubator in Somerville. In addition to SoftBank, its backers include Mitsubishi Heavy Industries, Suhail Bahwan Group, and RNT Associates.
—Tinkergarten grabbed $5.4 million for its business focused on outdoor early childhood education. The tech element here is the Northampton, MA-based company’s software for finding, vetting, training, and supporting instructors who run the “play-based outdoor learning classes.” The company’s programs are offered in over 700 locations across 48 states, according to a press release.
Owl Ventures led the Series A investment and was joined by earlier Tinkergarten backers Omidyar Network and Reach Capital. The startup said it has raised a total of $8.3 million to date.
—Audax Private Equity sold Bedford, MA-based Data Intensity to EQT for an undisclosed price. Founded in 2001, Data Intensity helps businesses manage databases, applications, and other IT operations. The company has more than 650 employees worldwide.
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