Salsify is moving its Boston HQ with plans to hire dozens
E-commerce software startup Salsify announced this week that it has signed a deal to move its headquarters from Government Center to Downtown Crossing. The company, which was founded by three Endeca alumni in 2012, made the decision as it expects to drastically grow its employee headcount in 2018. Salsify currently employs about 180 people and plans to hire dozens more by the end of the year. Today, Salsify's content management platform enables brands and retailers to manage, optimize and syndicate their content in one place, which drives sales. Salsify’s customers include big brands like Coca-Cola, Johnson & Johnson, Nine West and Overstock.com. [Boston Business Journal]
Allure Security raises $5.3M to double its team
With $5.3 million in seed financing under its belt, Waltham-based security company Allure Security plans to improve its data loss detection and response platform, as well as double its team from 13 to 26 members by the end of 2018. The round, which was announced Thursday, was led by Boston-based venture capital firm Glasswing Ventures with participation from Greycroft, Portage Partners and Zetta Venture Partners. The premise behind the startup is that “enterprises should be able to work without borders, and with the assurance, your documents are secure wherever they go.” To that end, Allure’s data loss detection and response (DDR) technology can track and protect documents inside and outside of an organization’s walls. [Built In Boston]
Evergage acquires product recommendations pioneer MyBuys
Personalization is top of mind for many e-commerce companies, including Boston-based Evergage. The startup, which offers a real-time personalization platform, announced the acquisition of MyBuys, a pioneer in the product recommendations space. Terms of the deal, which closed earlier this month, were not disclosed. Currently, hundreds of e-commerce companies use MyBuys technology to deliver product recommendations on their websites and via email to millions of shoppers. [Xconomy]
InfiniteMD raises $1.5M for AI capabilities
InfiniteMD, a local startup creating an AI algorithm for cancer patients that could possibly get rid of the need for specialists, raised $1.5 million in financing this week. The startup plans to use the funding to develop AI software that will make recommendations on what steps a cancer patient should make based on his or her diagnosis. Until now, the company has operated as a video consultation service where over 1,000 patients are able to connect with top specialists in the United States for second opinions. [BostInno]
Botkeeper raises $4.5 Million in seed funding for robotic bookkeeping
Bookkeeping is traditionally a very manual (and tedious) business process performed by accountants who are human and error-prone. But what if the process was automated with machine learning? That’s the gist behind botkeeper, an automated bookkeeping solution, which announced a $4.5 million seed investment led by Ignition Partners. The company offers robotic “botkeepers,” which provide virtual accounting services like making entries, tracking and scheduling revenue, accounting for payroll, sending invoices and more. The investment will be used to further product development and expand the company’s sales and marketing teams. Ignition Partners’ Kellan Carter and Atlantis Technologies’ CEO Tom Biggins will also be joining the company’s board as a part of the deal. [Press Release]
