Boston Deals: LevelUp, Ministry of Supply, Predilytics, CO Everywhere

9/27/13Follow @curtwoodward

Lots of startup funding news around town:

LevelUp, the Boston-based startup that has gone through several changes in direction as it tries to figure out a mobile payments business, has raised more investment cash—and it’s significantly less than last time.

An SEC filing shows that LevelUp (through its parent company, SCVNGR) has raised $7.5 million in equity financing, part of a round that could grow to $10 million. That’s compared to the company’s last fundraising round, a two-part total of $21 million that valued LevelUp at $172 million.

CEO Seth Priebatsch didn’t respond to an e-mail seeking comment, but this doesn’t appear to be a good sign for the startup. Earlier this year, BostInno reported exhaustively on LevelUp’s problems finding a business model that sticks, despite raising some $41 million total.

Priebatsch responded in a Boston Business Journal story in early May that he was considering raising more investment in about a year.

Ministry of Supply, a startup that sells technically advanced men’s clothing, says its seed investment round totals $1.1 million.

The investment was led by the VegasTechFund, headed by Zappos founder Tony Hsieh. We noted Hsieh’s involvement last month, when the size of the investment wasn’t known.

The Hsieh connection certainly has something to do with Brian Kalma, an early Zappos employee who joined Ministry of Supply recently as the startup’s president. Kalma also had worked at e-commerce companies Gemvara and Gilt Groupe.

Other investors in the Ministry of Supply round include SK Ventures, Kevin Henrikson, and Boston Red Sox pitcher Craig Breslow.

Predilytics, a startup that sells predictive data analytics for healthcare, has raised another $4.5 million in equity financing, according to regulatory paperwork.

The Burlington, MA-based company didn’t disclose the amount in its press release, but did say that its latest investment came from Foundation Medical Partners. Last year, Predilytics raised a $6 million Series A round from Flybridge Capital Partners, Highland Capital Partners, and Google Ventures.

Qstream, a Burlington, MA-based startup offering sales software, has raised $2.85 million. The Series A investment round was led by Frontline Ventures and included previous investor Launchpad Venture Group.

CO Everywhere, a smartphone app that aggregates social media content around locations, has raised another $550,000 from angel investors as it adds staff for its newest product.

The startup has now raised about $1.5 million in convertible debt from about 25 angels since last year. Investors have included Ty Danco and Semyon Dukach.

Founder and CEO Tony Longo says this latest investment was closed in about 18 hours. “This capital gave us a longer runway, although we do anticipate on doing an A round by the end of the year,” he says.

CO Everywhere is an outgrowth of the former Block Avenue. The startup is based in the PayPal Start Tank in downtown Boston. It has about 10 employees.

Curt Woodward is a senior editor for Xconomy based in Boston. Email: cwoodward@xconomy.com Follow @curtwoodward

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