Xconomy Report: Big Bets on the Future of Boston Tech

By Gregory T. Huang, Editor, Xconomy Boston

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.

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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.


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