Aras raises funding from GE venture arm
Andover-based Aras, a 17-year-old company that builds software to help businesses manage the development of complex products, raised $40 million in new funding from a group that includes the venture arm of General Electric Co. this week. The company, whose clients include General Motors, Honda and Microsoft, said it will use the money to expand its operations and eye acquisitions. [The Boston Globe]
Visual IQ reveals new marketing intelligence platform
Visual IQ, a Needham-based software company, unveiled its new marketing intelligence platform this week. Its next-generation solution combines audience demographic and behavior with marketing performance in a single user interface. By providing a holistic, real-time view of marketing and advertising performance in the context of key audiences, the platform will allow brands and agencies to discover their best-performing campaigns. The launch marks the completion of Visual IQ’s acquisition of Refined Labs, a German attribution and customer journey analytics provider. [Press Release]
EverTrue raises $6M to accelerate innovation in higher ed fundraising
As Boston welcomes thousands of college students back into its fold, edtech startup EverTrue is welcoming fresh funding to help the very institutions these students attend. The software startup, which is modernizing fundraising efforts in higher ed, announced on Wednesday that it has raised $6 million in a funding round led by University Ventures, joined by existing investor Bain Capital Ventures. The round will be used “to continue to invest aggressively in product, engineering and design to support deeper workflows across the advancement office,” said CEO Brent Grinna. [Built In Boston]
Former Wayfair CFO joins Cambridge’s Zagster
Cambridge bike-sharing company Zagster just welcomed Nicholas Malone as its new chief financial officer. Prior to this role, Malone was the CFO of Wayfair for eight years as the online retailer of home goods underwent explosive growth. Zagster raised over $10 million in funding in January and is currently looking for new office space to house its growing team. The company, which currently employs around 50, expects to double in size to by the end of 2017. [Boston Business Journal]
Hewlett Packard Enterprise to acquire Cloud Technology Partners
Cloud Technology Partners, a Boston-based provider of cloud and software services for enterprises, announced this week that it will be acquired by IT giant Hewlett Packard Enterprise. Terms of the deal were not disclosed. Cloud Technology Partners CEO Chris Greendale wrote in a blog post that his company the company explored various funding routes over the past six months but chose HPE’s offer because it provided the opportunity to maintain CTP’s “industry-recognized brand” and rapidly scale through new revenue streams and markets. [BostInno]
