Boston Tech Roundup: Optio Labs, AppZero, Hadapt, North Bridge
We’ve got a couple of startup financing deals, some layoffs, and venture capitalist retirements in this quick rundown of Boston-area innovation news to end the week:
—Optio Labs, a Boston-based company that makes security software for mobile devices, has raised a $10 million Series A investment. The money comes from Optio Labs’ parent company, Allied Minds, and unnamed private investors. The company’s main security product is aimed at federal government agencies, and works on Android devices.
—AppZero, a cloud computing software provider, has raised $3 million as it prepares for an influx of customers. The Andover, MA-based company helps its customers move applications to online storage, and says the money will help it aid companies moving away from Microsoft’s Windows Server 2003, which is being phased out. Investors include Canadian venture firm Covington Capital and several individuals, including AppZero chairman Nigel Stokes and New Enterprise Associates founder Frank Bonsal, Jr.
—Hadapt, a database software startup based in Cambridge, has reportedly laid off about a quarter of its staff. The news comes from BetaBoston, which reports that about 30 employees remain at the company. Hadapt has raised about $17 million in venture investment, including a $6.75 million round in late 2012 led by Atlas Venture partner Chris Lynch.
—North Bridge Venture Partners looks to be losing its co-founders. Fortune reports that Ed Anderson and Rich D’Amore will not be general partners on the firm’s next venture fund, along with longtime partner Jeff McCarthy. North Bridge raised about $525 million for its previous venture fund, the firm’s seventh, in 2008. Last year, the firm also raised $580 million for its second growth equity fund.