The Boston tech scene shared new innovations and announcements last week, indicating an exciting future is on the horizon. See what companies gained new capital and how it will be used. This is the Built In Boston weekly refresh.
Starburst raised $250M. Starburst allows users to access data and analytics faster without having to store the data themselves. The company raised a Series D round that brought the company’s valuation to $3.35 billion. The new capital will go toward investing in Starburst’s technology, development of data products, expanding into Asia and increasing its team. Starburst plans to double its employee headcount throughout the year. [Built In Boston]
Scandit gained $150M. Scandit raised a $150 million Series D round led by Warburg Pincus that brought its valuation to over $1 billion. Scandit’s smart data capture allows smart devices to scan data from barcodes, IDs and more. The funding will go toward expanding its global footprint, research and development. Scandit also plans to scale its team by 50 percent through the year. [Built In Boston]
BOSTON TECH QUOTE OF THE WEEK
Quaise Energy raised $40M. The clean energy and MIT spinout company raised a $40 million Series A round led by Safar Partners. Quaise Energy aims to bring renewable, clean energy to future generations through its geothermal technology. The Series A funding will invest in developing drilling systems. The company is also planning to expand its teams with a focus on doubling its engineers to 40. [Built In Boston]
Tomorrow.io won a $19.3M contract. Tomorrow.io is a weather intelligence platform that works with companies around the world impacted by the weather. Tomorrow.io won a $19.3 million contract from the U.S. Air Force to build a constellation of weather satellites to launch around the end of the year. These satellites will provide 3D ocean and weather data. [Built In Boston]
BitSight had a record year. BitSight created a cybersecurity ratings platform to help institutions and organizations assess cyber risks. BitSight had a successful year, closing its fiscal year on January 31 with tremendous growth. Some big feats that came out of the year included a strategic partnership and investment from Moody’s Corporation and a partnership with Glass Lewis. BitSight also added more than 700 new customers last year and exceeded $100 million ARR in July. [BitSight]
