Companies on the Boston tech scene are already making big moves in 2021. Last week saw new funding rounds and productive milestones. Read below for the latest on Boston tech. This is the Built In Boston weekly refresh.
Starburst Data pulled in $100M. After three years, the data analytics startup has reached unicorn status following its Series C round. Starburst’s platform makes data usable across any database, eliminating the need for storage. Andreessen Horowitz led the round that will enable the company to fuel its global expansion and help advance its product. Currently, Starburst is hiring for positions at its Boston headquarters. [Built In Boston]
Lose It! customers had a productive year. The company developed a wellness app that helps users track their diet and exercise, and it announced last week that, during 2020, users lost a collective 100 million pounds. After launching virtual fitness programs and adding new features to its platform, this milestone is fueling Lose It! to prioritize health and wellness in the year ahead. [PR Newswire]
Boston Tech Quote of the Week
iboss raised $145M. Since more people are using the cloud to store their personal information, iboss engineered a platform using a model that follows the user across specific services to protect against cyber attacks. The funding round was led by NightDragon and Francisco Partners. With the new capital, iboss plans to address increased demand for its product and hire additional talent in Boston and across the country. [Built In Boston]
Wayfair raises its minimum wage. The home goods e-commerce company worked to build upon its commitment to its team by offering at least $15 per hour for all its U.S. employees as of January 3. The pay increase raised the salary of over 40 percent of the company’s hourly workers in the supply chain and customer service areas. [The New York Times]
Boston tech companies had a profitable 2020. Over the course of last year, 10 tech companies in the Boston area secured upwards of $2.7 billion in venture funding. Among these, the top earner is Indigo with $560 million toward sustainable agriculture. Following immediately after is Toast, which pulled in $400 million for its restaurant management software, and DataRobot with $270 million to advance its AI product. [Built In Boston]
One Way Ventures closed its second fund. Solely dedicated to companies with at least one immigrant founder, the firm closed a fund of $57.5 million on January 1. Following its very first round that totaled $28.5 million in 2018, the doubled capital from its newest funding will enable it to invest more bountifully in companies and lead funding rounds more often. [The Business Journals]
