Weekly Refresh: A $280M E-Commerce Round and a Stabler Virtual Currency

by Tatum Hunter
October 7, 2019
Boston tech startup news jobs
photo via shutterstock

Off-price e-commerce retailer Rue Gilt Groupe received a $280 million investment from Simon Property Group. Simon, the largest shopping mall operator in the U.S., is throwing its hat into the online ring with this partnership with Rue Gilt and the launch of ShopPremiumOutlets.com, which features discounted products from 2,000 brands. The new site will round out Rue Gilt’s portfolio, which includes flash-sale sites Rue La La and Gilt. [Forbes]

Titan Advanced Energy Solutions raised $10 million in Series A funding. Titan’s mission is to speed the shift to electric energy be developing a more accurate way to measure the state of health and state of charge of lithium-ion batteries. The funding, which was led by Schneider Electric Ventures and Energy Innovation Capital, will allow Titan to hire more engineers, vamp up sales to automotive and consumer electronics producers and ease the process of repurposing second-life batteries. [Press release]

Cloud computing company Bullhorn acquired Erecruit for an undisclosed amount. Both companies are staffing- and recruiting-focused. Bullhorn will fold Erecruit’s executives into its existing leadership team. [BostInno]

Blockchain startup Oneiro secured $3 million in Series A funding. Oneiro currently is working with the Axiom Foundation on the “buoyant” virtual currency ndau, which attempts to maintain long-term value by discouraging active, speculative training through monetary policy. This was Oneiro’s second investment from COSIMO Ventures, which focuses on deep technology companies. [Press release

SaaS company LogMeIn updated GoToMeeting to make virtual conferencing easier. One of the world’s top 10 public SaaS companies, LogMeIn already offers webinar, business phone and other enterprise products as part of its “unified communications and collaboration” portfolio. One interesting feature of the new GoToMeeting is its bolstered AI-powered transcription capabilities. [Press release]

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