Boston Tech Roundup: Boston-Power, Imprivata, CloudLock, & More
There’s fundraising news big and small, along with an acquisition, in this wrapup of the week’s Boston-area innovation headlines:
—A Boston-bred cleantech company is rearing its head again, spurred on by competition with Elon Musk’s Tesla Motors. The Wall Street Journal reports that Boston-Power, a developer of advanced lithium ion battery technology, is raising $250 million from private investors. Acting CEO Sonny Wu tells the Journal that Boston-Power’s expansion plans are tied in part to Tesla’s plans to build a large battery factory. Boston-Power raised about $125 million in 2011, shedding some top executives and moving most of its operations to China.
—Imprivata, a Lexington, MA-based healthcare software company, is taking another step toward its IPO. An amended filing with the SEC pegs Imprivata’s share price range at $14-$16, which would earn the company up to $92 million. Imprivata has seen its revenues increase in the past three years, reaching $71.1 million in 2013. But the company’s profitability has suffered in that period, ending with a $5.5 million loss last year. The biggest stockholders are venture firms General Catalyst Partners, Highland Capital Partners, and Polaris Partners, each of which owns about 25 percent of the company.
—CloudLock, a Waltham, MA-based IT security company, is putting some if its $16.5 million Series C fundraising to work with an acquisition. CloudLock has purchased Innovode, a U.K.-based company that developed encryption software for Google Drive users. In a press release, CloudLock says it has purchased Innovode’s intellectual property and hired its “key team members.”
—Zaius, a Cambridge, MA-based developer of marketing software, has raised a $6.3 million Series A investment led by Matrix Partners. Zaius was founded in 2012 and is led by CEO Philip Wickline, a veteran of Endeca and Hadapt who had most recently been working as an entrepreneur-in-residence at Matrix. The startup also features former staffers of Netezza and LogMeIn.
—OYO Sports, an Acton, MA-based sports toy maker, has raised a $3 million seed round from Boston Seed Capital, Atlas Venture, and several angel investors. The company sells “minifigure” toys licensed to carry the logos and likenesses of professional athletes and sports teams. The startup says it employs 120 people at its headquarters, where it can churn out thousands of toys per day.