Fresh capital is pouring into companies in Boston that are looking to build the future’s tech solutions. From biotech efforts geared toward improving cancer outcomes, to AI-powered investing advice, check out what these innovators are building. This is the Built In Boston Weekly Refresh.
Portrait Analytics raised $7M. Fintech solution Portrait uses generative AI to sort through companies to find the best fitting investment options. The company announced a new round of funding from lead investor Unusual Ventures that brings its total capital raised to $10 million. Portrait plans to make its platform available to asset managers in the coming months. [Built In Boston]
Paytronix hired a new CEO. Serving businesses like restaurants, retail and convenience stores, Paytronix offers customer engagement and loyalty solutions. The guest engagement company is transitioning to a new CEO, and Jeff Hindman is stepping up to the task. Hindman was previously the chief revenue officer at Snap One. Paytronix’s founder and former CEO Andrew Robbins will become executive chairman. [BostInno]
Boston Tech Quote of the Week
“Building on a foundation of trust and our long-standing relationship, Silicon Valley Bank has supported Connectbase’s growth and success to date. They see our growth potential and we are eager to continue the expansion trend that has been our hallmark for seven years. Connectbase is proud to be trusted with this level of credit during these times that may be financially challenging for others in the business world.” — Yossi Hazan, Connectbase CFO
Connectbase pulled in $16M. A new debt facility from Silicon Valley Bank will help Connectbase fuel company growth and market expansion. Connectbase enables companies to buy and sell connectivity like automated quoting and insights. The company serves more than 300 providers across 150 companies. [PR Newswire]
SURGE Therapeutics secured $32M. Cambridge-based biotech company SURGE is developing a new immunotherapy approach that aims to improve the survival rate of cancer patients. The company announced a Series B round of funding led by Bioluminescence Ventures that it plans to invest in further developing its approach, expanding its team and advancing clinical trials. [BioSpace]
