July 13, 2012
CAMBRIDGE, Mass. — Who are the companies that will make or break the Boston tech scene? Well, if you look at private companies that have raised more than $50 million in venture capital, a few stand out. There’s HubSpot in online marketing, Jumptap in mobile advertising, Veracode in software security and Wayfair in e-retail. They’re all pretty far along, and all are trying to transform their sectors or create new markets. Together, they’ll help define the future of the tech industry in Massachusetts — whether or not they succeed.
Meanwhile, in life sciences news, Waltham-based ImmunoGen has started human trials of a new treatment for ovarian cancer. The company has plenty of big pharmaceutical partners like Genentech, but it owns the new drug all by itself.
Our deal of the week is a $12 million venture round for Paydiant, a mobile software startup in Wellesley, Mass., that helps banks and retailers handle transactions by cell phone.
And lastly, one more make-or-break company from the local tech scene. Kayak, the online travel firm based in Connecticut and Concord, Mass., is getting ready to raise more than $80 million in an IPO that could hit as early as next week. Let’s hope there are no more sharks in the water by then.
The weekly roundup of business, technology and life science news from our partners at Xconomy.com airs every Friday on 89.7 Boston Public Radio.