Entrepreneur | Investor | EOS Implementer® at Meritage focused on high growth tech companies | Co-Founder of @FullContact, @ContactsPlus, @v1vc - lots of 🦄
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Articles by Bart Lorang
Still Scaling Up: Revisiting the Visionary-Integrator Duo Six Months Later
Our CEO and co-founder Bart Lorang revisits the Visionary-Integrator duo, implemented at FullContact six months ago with the appointment of President & COO, Tim Prunk. Since our inception, FullContact has always been about relationships with the people who matter most. When I knew that I could no longer fulfill the duties of both a Visionary and Integrator at our company, I took the necessary steps to find someone who could facilitate changes and execute strategies inside the business.
AttackIQ, Which Makes Tools to Assess Cybersecurity, Raises $8.8M | Xconomy
San Diego-based AttackIQ, a cybersecurity startup providing a Web-based platform for assessing network defenses, has finally closed its Series A round of founding, after raising a total of $8.8 million over the past three years, according to co-founder and CEO Stephan Chenette. Institutional investors included San Francisco-based Index Ventures, Qualcomm Ventures, and Telstra Ventures.
In Trump’s America, Does Immigration Remain an Engine for Growth? | Xconomy
There are plenty of constituencies looking ahead to Donald Trump’s presidency with trepidation, but perhaps none more so than immigrants. The words inscribed on the Statue of Liberty may call for the rest of the world to send us their huddled masses yearning to breathe free, but some in the American electorate apparently feel differently.
StartingBlock Madison Nets Federal Grant, Partners with Bunker Labs | Xconomy
The U.S. Economic Development Administration awarded a $471,875 grant to StartingBlock Madison, a still-to-be-built entrepreneurial center in Wisconsin’s capital city, the agency said on Tuesday. Scott Resnick, executive director of StartingBlock Madison, said that the grant will be paid out over three years. His organization plans to use the money to fund operations, including hiring and paying staff, he said.
Check Out the Agenda for Xconomy Intersect in Seattle Dec. 8 | Xconomy
We’re excited to hear from a great group of leading entrepreneurs, investors, and researchers at our next event in Seattle, Xconomy Intersect, coming up on Dec. 8. We’ve just released the agenda. Here are some highlights: The high-level idea behind this event is to look for the intersections—between industries, disciplines, and cultures—yielding impactful innovations now and in the years to come.
Agenda: The State of Cybersecurity | Xconomy
12.8.2016 AGENDA .
Spark Nabs $1B, Uber Challenger Gets $10.5M, & More Boston VC News | Xconomy
November has been a busy month for venture funding news in the Boston area. Spark Capital has $1 billion more to make tech bets, investors pumped $10.5 million into a local Uber competitor, the much-hyped robot startup Jibo sucked in more money, and Web optimization firm Yottaa raised more funds and hired a new CEO. Read on for details on these and other recent announcements.
Trump's Election Stunner: Tech and Life Sciences Leaders React | Xconomy
Still processing what this will mean for technology, business, society, and humanity—I guess it’s going to take a while. In the meantime, here are 10 notable reactions from around the Xconomy network, mostly via Twitter. As you might guess, they are a mix of outrage, resiliency, hope, rationalizing, grandstanding, and some calls for calm and reason (plus some calls to secede): 1.
Milwaukee Wine Subscription Startup Now Also Shipping Cheese | Xconomy
Bright Cellars appears to have little difficulty adjusting to its surroundings. The monthly wine service, which started in Boston but moved to Milwaukee last year, says it is now also shipping boxes of artisan cheeses to customers’ doorsteps. The cheeses are all made in the Badger State, Bright Cellars says. “Wisconsin has some of the best cheese in the world,” says Katie Slavin, a business analyst at Bright Cellars who also serves as its manager of cheese operations, in a prepared statement.
RealSavvy May Add SF, LA to Social Real Estate Apps After Funding | Xconomy
Austin—RealSavvy, the Austin, TX-based startup behind a real estate app with Pinterest-like qualities for home buyers and agents, is looking to expand to cities outside of the state after receiving a new round of funding last month, co-founder and CEO Rick Orr tells Xconomy. The company received $1.6 million in October from FF Angel, an arm of Peter Thiel’s Founders Fund, as well as Capital Factory Fund and Stephen Oskoui, a venture partner at Founders Fund.
Texas Innovators in Health, Space, Energy, A.I. & More: The Disruptors Photos | Xconomy
Texas innovation is as varied as the state is large. At Disruptors, a daylong forum held recently in Houston, Xconomy brought together entrepreneurs, investors, and other innovators to speak of their advances in investing, medical devices, virtual reality, and other sectors. The event was held at the Texas Medical Center’s accelerator, TMCx, and attracted about 200 attendees.
AltusCampus Closing on $800K Seed Round, Eyes Larger Series A in 2016 | Xconomy
AltusCampus aims to change how businesses manage the continuing medical education (CME) required of healthcare professionals and the Madison, WI-based software company will wrap up a $800,000 seed round to jumpstart its efforts Nov. 1. But CEO Daniel Guerra, Jr., has his sights set on bigger goals and as the company gains traction, he says a larger Series A round is not too far away.
Grace Hopper Conference Shines Light on Coding School for Afghan Girls | Xconomy
Houston— The tech industry can be difficult for women and under-represented minorities. For Fereshteh Forough, the degree of difficulty in recruiting women to the field is greater still. And so are the stakes. “There are general challenges, and there are Afghanistan challenges,” she said. Forough is the founder of Code to Inspire, a coding academy aimed at high school- and college-aged women.
Isomark, gBETA, Gregor, & More: This Week’s Wisconsin Watchlist | Xconomy
Keep up with the latest news from Wisconsin’s innovation community with these recent headlines: —Members of the University of Wisconsin-Madison’s football team are using a device developed by the startup Isomark that gives them feedback on how they’re metabolizing food, the Wisconsin State Journal reported. The device, called Energy Balance, reportedly tells users what and how much “metabolic fuel”—fat, protein, and carbohydrates—they’re burning while exercising.
Xconomy’s Disruptors Houston Conference Showcases Texas Innovators | Xconomy
Houston—In just a few days, Xconomy’s Disruptors conference will bring some of the brightest innovators in Texas together. The daylong forum, being held Thursday at the Texas Medical Center’s TMCx accelerator in Houston, features innovation in healthcare, space, transportation, energy, artificial intelligence, and other sectors. Here are some of the highlights: —Edward Jung, co-founder and CTO of Intellectual Ventures in Seattle.
Techstars, Angels Add $1M to Seed Round for Parking Startup NuPark | Xconomy
Austin—NuPark, a startup with video technology and software that helps customers like schools and governments manage parking, has added $1 million in new funding to the $1.4 million seed round the company raised last year, CEO Kevin Uhlenhaker tells Xconomy. That brings NuPark’s total seed money to about $2.6 million, including an early friends and family round, Uhlenhaker says.
GREE Is Good: How PerBlue Sold Its DragonSoul to Japanese Firm | Xconomy
Earlier this month, PerBlue, a Madison, WI-based developer of games that can be downloaded and played on mobile devices, said that it had sold the rights to one of its games, DragonSoul, for an undisclosed sum. The buyer, San Francisco-based GREE International Entertainment (GIE), is part of GREE, a Japan-based company listed on the Tokyo Stock Exchange. According to a press release GIE put out on Oct.
NEI Reports Find Detroit's Entrepreneurial Ecosystem is Growing | Xconomy
Last month, the New Economy Initiative (NEI), one of the nation’s largest philanthropic partnerships focused on innovation and entrepreneurship, unveiled the results of two reports it commissioned to measure the organization’s impact, and the data confirms that Detroit’s entrepreneurial ecosystem is growing.
Cybric Bags $5M to Automate & Align Cybersecurity Tools | Xconomy
Boston cybersecurity startup Cybric announced $5 million in new funding today, as investors place more bets on tech companies promising to make security tools more sophisticated and unified. Cybric says it closed a $6.3 million seed round. But that amount includes $1.3 million in funding announced in November 2015, a spokeswoman says. Cybric’s main backers are Capstone Ventures and Petrillo Capital.
Third-Quarter Report Shows Slowdown in VC Activity, & Top 10 Deals | Xconomy
Venture capital activity is gradually easing from last year’s peak, according to a new quarterly report put together by Seattle-based PitchBook and the National Venture Capital Association. VC firms invested $14.99 billion in 1,810 U.S. deals (1,796 companies) during the third quarter that ended September 30, according to the inaugural “Venture Monitor” report released today. It was the fifth straight quarterly decline in the number of companies getting VC funding, according to the report.
Amazon Pledges $10M to Expand UW Computer Science Program | Xconomy
The University of Washington is $10 million closer to its goal of a significantly expanded computer science program thanks to a gift from Amazon announced Thursday. The Seattle-based tech giant’s commitment to the $110 million public-private fundraising campaign for a new computer science building is its largest local contribution yet.
With Epic Ties, HealthX Raises $20M First Fund, Reveals Investments | Xconomy
HealthX Ventures, a Madison, WI-based group that invests in early-stage healthcare technology companies, says that it has closed a $20 million fund. About 75 investors participated, says Dan Blake, a partner at the fund. HealthX, which says it seeks to put money into startups that are getting their “first rounds of funding,” also disclosed the names of some of its portfolio companies.
Boston Tech Watch: Inclusive Tech, Drones, Layoffs, Alcohol, & More | Xconomy
It’s hard to believe October is upon us. Before fall gets into full swing, let’s take a look at some of the late September happenings in Boston’s tech sector: —In a test demonstration, a drone developed by CyPhy Works for UPS successfully delivered a package from Beverly, MA, to an island a few miles away. UPS invested in Danvers, MA-based CyPhy last year.
Seattle Week in Review: AI, Remitly, Spaceflight, Sound as UI, More | Xconomy
The leaves soak up the early fall sun and we wrap up another busy news week. We’re reviewing big artificial intelligence announcements from Microsoft and its chief competitors; more funding for Remitly; a conversational competition from Amazon; a milestone launch for Spaceflight; and more. Details: —Big news from Microsoft, which is devoting a 5,000-person division to developing artificial intelligence technologies and products that use them.
Aging 2.0 Brings Its Focus on Technology and Elder Care to Houston | Xconomy
Houston—Aging 2.0 now has a perch in the home of one of the world’s largest medical centers. The San Francisco-based organization, focused on supporting innovation tailored to the needs of older adults, kicks off its Houston chapter today with a forum to discuss some of the needs in the aging healthcare market.
Gener8tor, University of Minnesota Tech Transfer Office to Team Up | Xconomy
Gener8tor, a startup accelerator whose programs have taken place exclusively in Wisconsin up to this point, took a key step forward in its expansion into Minnesota this week. The University of Minnesota’s technology transfer arm, known as the Office for Technology Commercialization (OTC), says it has formed a partnership with Gener8tor in an effort aimed at spinning startup companies out of research conducted at the school.
Liquid Web Eyes San Antonio for Tech Talent After Cloud Sites Deal | Xconomy
San Antonio—A Lansing, MI-based Web hosting and server management company has plans to make more hires in the Alamo City after an acquisition, in part because its CEO thinks he’ll have better luck finding employees here. Liquid Web, which was founded in 1997, bought a Web server business from Rackspace called Cloud Sites in August, shortly before Rackspace (NYSE: RAX) announced its sale to private equity for $4.3 billion.
Pillar Hires Hodges as Boston VCs Build Community, Boost Diversity | Xconomy
It’s been a dynamic year for the Boston venture capital scene. Several new tech-focused funds have launched, some putting new spins on the traditional VC model. And, it’s worth noting, the firms are assembling diverse leadership teams. The latest example comes from Pillar, which today announced a new partner, Sarah Hodges. Hodges (pictured above) previously co-founded Boston leadership development firm Intelligent.ly.
Boston Tech Watch: Driverless Cars, Stealthy Startups, Deals & More | Xconomy
Fall’s arrival has brought with it a ton of tech news. Here are the latest headlines from the Boston area, spanning self-driving cars, a flurry of startup funding deals, a lawsuit over 3D printer patents, and more. Read on for details. —Self-driving cars will soon be tested on Boston streets as part of a year-long initiative the city announced in partnership with the World Economic Forum and Boston Consulting Group. The city and its partners will also study potential autonomous vehicle policies.
Detroit in Tech Aims to Boost Diversity, Connect Startups to Resources | Xconomy
A new project to support minority entrepreneurs by highlighting their work and connecting them with the resources they need to grow their companies has launched in the Motor City. Detroit in Tech, a collaboration between Grand Circus, Google for Entrepreneurs, and Code2040, seeks to even the playing field in a growing ecosystem.
The Power of Polymers | Xconomy
Throughout history, innovative humans have developed technology to overcome or adapt to challenges in the natural world. As it turns out, some of our most important advances were actually inspired by a naturally occurring group of materials: polymers. Derived from Greek words meaning “many parts,” the word polymer refers to a large molecule composed of multiple repeating units.
Xylem Moves Into Smart Metering Business with $1.7B Sensus Deal
Water technology company Xylem is getting into the business of real-time monitoring of water and energy consumption through a $1.7 billion deal to acquire smart meter company Sensus. Rye, NY-based Xylem (NYSE: XYL) announced the agreement—an all cash deal—this morning.
Rose-Hulman Ventures Boosts Indiana Startups With Student R&D Teams
[Editor’s note: This story is part of a series examining tech transfer and innovation initiatives at Indiana colleges and universities.] A temperature-controlled, pressurized dispenser of liquid chocolate; a WiFi-enabled garbage bin that sends electronic alerts when it needs emptying; a medical tool that helps guide placement of other equipment during brain surgery.
Redox and Kinvey Team Up, Hoping To Simplify Healthcare App-Making | Xconomy
Creating a software application that can talk to a hospital or clinic’s patient record-keeping system can be messy. As a result, many third-party developers elect to use an application programming interface, like one created by the Madison, WI-based startup Redox, to get data in and out of healthcare organizations’ records systems.
Accolade Raises $70M to Build Healthcare Concierge Technology
Accolade, the healthcare IT company that filled its C-suite with the executive team behind one of the Seattle area’s biggest startup success stories and established a new headquarters here earlier this year, has added $70 million in fresh capital to its coffers from Andreessen Horowitz and Madrona Venture Group, among others.
Roundup: Owlchemy, TheWaveVR, Fe3 Medical, & Rackspace Buyout?
Let’s catch up with the latest innovation news from Xconomy Texas. —Rackspace Hosting, the San Antonio, TX-based cloud computing company, is reportedly nearing a sale to a New York-based private equity firm. Reuters has reported that Apollo Global Management (NYSE: APO) is considering a $3.5 billion offer for Rackspace (NYSE: RAX). In 2014, the company hired investment bank Morgan Stanley to explore a possible partnership or acquisition, Bloomberg reported.
Foundry Group, Autodesk Lead $35M Deal With Formlabs in 3D Printing
Here’s the classic life cycle of an emerging technology: a big hype curve, a trough of disillusionment, and then slow but steady adoption. 3D printing looks to be right on schedule. Now, one of the leading startups in the sector is solidifying its position for the long haul. Formlabs, based in Somerville, MA, said today it has raised a $35 million Series B venture round led by Colorado-based Foundry Group, a new investor in the company.
Fintech Lender Uses Profitability to Step Out from Industry Cloud
With a cloud lingering over the peer-to-peer lending industry, privately held National Funding is disclosing new details today about its operations, in a bid to step into the light and differentiate itself as a fintech company and alternative lender. In contrast to some alternative lenders, the San Diego firm said it is growing fast and is consistently profitable.
Volition Closes $250M Fund to Invest in Bootstrapped Businesses
Boston-based growth equity firm Volition Capital says it has raised a $250 million third fund, its largest to date. The firm is trying to carve out a niche by investing in small but established tech companies that have strong revenue growth and, ideally, have raised little to no outside capital. It’s a sign of increasing specialization among tech-focused investors.
New York’s B12 Continues Trend of “Human-Assisted A.I.” Startups
For years, critics have viewed artificial intelligence technologies as an existential threat to human workers’ jobs (if not our lives, but that’s a whole other debate). But with the latest wave of A.I. startups, some entrepreneurs are aiming for a middle ground where humans team up with A.I. programs to take advantage of each other’s strengths.
Zingle Raises $3M to Expand and Improve Messaging App Technology
Zingle, a Carlsbad, CA-based tech startup targeting the service industry and consumer-facing businesses with its messaging app technology, has raised $3 million in venture capital, according to a regulatory filing earlier this month. The funding, provided by Santa Barbara, CA-based Rincon Venture Partners and Venice, CA-based CrossCut Ventures, represents the first institutional investment for Zingle. The company raised $1 million last year, according to a 2015 regulatory filing.
Health IT Startup, Born of Grief, Tackles Home Care After Surgeries
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Houston—Kim Bond Evans’s mother checked into the hospital for routine back surgery. But the procedure that was supposed to relieve her pain led to complications and, in the end, her death. As she processed her mother’s loss, Evans, who has worked for firms such as Microsoft and BMC Software, took a technologist’s approach to understand what happened. Her company, Seremedi, was borne from her grief. “I decided I’m going to treat this as a learning experience,” she says.
By C. Brown, Alan McGlade, Alexis Borisy, David Cohen Verified, Angela Shah Verified, Gerry Hays, Bart Lorang, Andrea Giuffrida
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BioXconomy
How Much GM Actually Paid for Cruise, and More Automotive News
As we limp into the dog days of summer—Michigan, like most of the Midwest, is currently trapped under what meteorologists are calling a “heat dome”—the state’s automotive technology efforts keep rolling along.
Kiio, HealthTech Capitol, & Exact Sciences: This Week’s WI Watchlist | Xconomy
Power through the dog days of summer with these recent headlines from Wisconsin’s innovation community: —Madison-based Kiio raised $227,000 in debt financing from three investors, according to an SEC filing. Kiio is developing software-enabled bands that provide resistance during rehabilitative exercises and help physical therapists gauge the strength of patients. Founded in 2011, Kiio has now raised more than $4.1 million, according to regulatory documents.
Titan Spine Lands Funding from Texas PE Firm for Surgical Implants | Xconomy
[Updated 7/14/16, 5:34 pm. See below.] Mequon, WI-based Titan Spine says it’s raised a “substantial” round of funding from Southlake, TX-based Southlake Equity Group. The surgical implant maker says it will use some of the money to ramp up sales of its devices already on the market and support the launch of a new product line.
Gener8tor Opening Minnesota Office, First Class to Start in Fall | Xconomy
The startup accelerator, which launched in Milwaukee in 2012 before adding programs in Madison, WI, said on Thursday that it plans to open an office in the Minneapolis/St. Paul area and enroll its first class of early-stage companies there later this year. “We see a really robust market of startups and investors in Minnesota,” says Gener8tor co-founder Joe Kirgues. “We think it’s one of the leading markets, in the Midwest and beyond, for high-tech entrepreneurs to build a company.
TierPoint Talks Milwaukee Data Center Overhaul, Competing With Amazon | Xconomy
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A Milwaukee data center that changed hands twice in the past two years before undergoing major renovations was unveiled to the public on Wednesday. The facility is owned by St. Louis-based TierPoint, which acquired it in March as part of the company’s purchase of Omaha, NE-based Cosentry. At the time the deal was announced, Cosentry operated nine data centers, including the one in Milwaukee. Cosentry itself inherited the facility in 2014 when it bought Milwaukee-based Red Anvil.
By Jeff Buchanan Verified, Andrea Giuffrida, Bill Clarke, Andy Ory, Bill Mortimore, Chris Rizik, Bart Lorang, David Cohen Verified, Andy Nunemaker
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BioXconomy
StartingBlock, Cellectar & 500 Startups: This Week’s WI Watchlist | Xconomy
—StartingBlock Madison, an entrepreneurial center that would be located within a proposed $69 million building project just east of the city’s downtown, no longer plans to feature Sector67 as an anchor tenant, the Wisconsin State Journal reported. Sector67, a maker space in Madison, reportedly decided it couldn’t agree to the terms of a contract it was offered by StartingBlock earlier this year.
SmartUQ Raises $750K More to Develop Simulation Analytics Software | Xconomy
SmartUQ, a Madison, WI-based startup whose software allows users to test the performance of parts and products before manufacturing them on a large scale, has raised $750,000 in equity financing, according to an SEC filing. Peter Qian, SmartUQ’s founder and chief scientist, says some of the new funding will go toward research and development, as well as sales and marketing efforts. There are also plans to add staff.
Dynamis Reels in $529K to Develop Tools for Sizing Up Health Plans | Xconomy
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Dynamis Software, whose technology allows insurance brokers to design and evaluate health plans for the organizations they sell to, has raised more than $529,000 in equity financing, according to a regulatory document filed Tuesday. Dynamis will use the money to help fuel the West Allis, WI-based company’s growth, says co-founder and CEO Andy Nunemaker. “We’ve hit a point where the market is responding,” Nunemaker says.
By Jeff Buchanan Verified, Ann Marie Sastry, Brad Bernthal, Bart Lorang, Alan Frazier, Bill Clarke, Abigail Barrow, Alexander Muse
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BioXconomy
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