OutSystems Secured $150M, AdmitHub Raised $16M, and More Boston Tech News

February 22, 2021
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photo: admithub / facebook

Tech startups in the Boston area are funding new innovations across a range of industries. Read more to find out which companies secured new capital last week. This is the Built In Boston weekly refresh.

AdmitHub got $16MIn addition to closing on a Series B round led by Rethink Education, the edtech startup that uses AI to provide a student engagement chatbot announced an imminent name change to Mainstay. The funding from this recent round follows the company’s $7.5 million raise last year, and it will go toward furthering the company’s work utilizing new tech to improve student access and retention for institutions. [PR Newswire]

OutSystems raised $150MThe new funding led by Abdiel Capital and Tiger Global values the software developer at $9.5 billion. OutSystems offers low-code development services for enterprises to freely create their applications. Having undergone growth during the pandemic, OutSystems plans to use the new funding to continue that momentum, as well as hire new talent across its offices. [Built In Boston]

Boston Tech Quote of the Week

“This new round of funding marks an important inflection point for Locus Robotics. Warehouses facing labor shortages and exploding volumes are looking for flexible, intelligent automation to improve productivity and grow their operations. Locus is uniquely positioned to drive digital transformation in this enormous global market.” —Locus Robotics CEO Rick Faulk

Locus Robotics pulled in $150MHaving claimed the title of Boston’s newest unicorn after its Series E funding round, the company is planning to expand its fleet of autonomous robots around the world. It’s also looking to invest in R&D, sales, marketing and growing its team. The latest round was led by Tiger Global Management and BOND. [Built In Boston]

HubSpot’s staff increased by 25 percentAt this Cambridge-based company, more than 800 people joined the team in 2020, bringing its grand total of employees to 4,225 as of the end of December. During this year, the sales and marketing software company is planning to continue its growth by offering in-person, flex and remote work options. [Boston Business Journal]

Reprise got $17MEnterprise software company Reprise secured new Series A funding led by Bain Capital Ventures. The startup offers sales and marketing teams a no-code solution to make customized product demos. With the fresh cash, Reprise anticipates expanding its U.S. operations and onboarding new staff members remotely across the country. [PRWeb]

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