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Staples will open e-commerce innovation center in Cambridge

Staples seems to be hiring product managers for e-commerce and mobile for this new site...

E-commerce VP Brian Tilzer plans to split his time between the Framingham headquarters and this new location.

SK

Begin forwarded message:

From: "Cautela, Mark" 
Subject: Staples Announces New E-Commerce Innovation Center to Open in Cambridge, Mass.
Date: January 26, 2012 9:57:52 AM EST
To:

Staples Announces New E-Commerce Innovation Center to Open in Cambridge, Mass.

Hi Scott,

FYI, Staples announced today that we’re opening a new E-Commerce Innovation Center in Cambridge this spring. The office will house teams responsible for designing and implementing innovative new e-commerce solutions for the millions of business customers who shop Staples websites and stores.

A release with more details is below (and attached). Once you’ve had chance to review, please let me know if you have any questions. 

Hope to see you tomorrow at the MITX e-commerce conference. Brian Tilzer from Staples is keynoting.

Best,

Mark

  <<Staples Cambridge Office Press Release_FINAL.docx>>  

   Mark Cautela

  Public Relations Manager

Staples.com

Picture (Device Independent Bitmap)


 Follow me on Twitter

 www.staples.com

500 Staples Drive, Framingham, MA 01702

 

Staples Announces New E-Commerce Innovation Center to Open in Cambridge, Mass.

 

 World’s second largest e-commerce company adding IT, product management, usability and creative positions to deliver innovative online technologies

FRAMINGHAM, Mass. (January 26, 2011) – Staples, the world’s largest office products company and a trusted source for office solutions, today announced the opening of a new E-Commerce Innovation Center in Kendall Square in Cambridge, Massachusetts.  The office will house teams responsible for designing and implementing innovative new e-commerce solutions for the millions of business customers who shop Staples websites and stores.

Staples, the world’s second largest e-commerce company,  is adding IT, product management, usability and creative positions as it continues to invest in the multi-channel customer experience across mobile devices, desktops and stores. The company recently announced the launch of a new smartphone app as well as a top-ranking, new mobile optimized website.

“Cambridge is a hub of innovation, with both world-class universities and technology companies,” said Brian Tilzer, vice president, e-commerce and business development, Staples.com. “Staples new E-Commerce Innovation Center will become the home to some of the world’s best e-commerce talent with the goal of rapidly bringing breakthrough new ideas to market in emerging online technologies like mobile commerce and social media.”

The center is scheduled to open by May of 2012. People in the fields of e-commerce and IT are encouraged to visit Staples’ careers page to view available openings in the new Cambridge office.

About Staples:

Staples is the world’s largest office products company and a trusted source for office solutions. The company provides products, services and expertise in office supplies, copy & print, technology, facilities and breakroom, and furniture. Staples invented the office superstore concept in 1986 and now has annual sales of $25 billion, ranking second in the world in eCommerce sales. With 90,000 associates worldwide, Staples operates in 26 countries throughout North and South America, Europe, Asia and Australia, making it easy for businesses of all sizes, and consumers. The company is headquartered outside Boston. More information about Staples (Nasdaq: SPLS) is available at www.staples.com/media.

###

Click here to download:
Staples Cambridge Office Press Release_FINAL.docx (50 KB)
(download)

Digital music marketplace Murfie gets into TechStars Boston, raises $1.4 million

Interesting to see a TechStars Boston company raising money as the 2012 program gets started... 

SK

Begin forwarded message:

From: "Matt Younkle" 
Date: January 25, 2012 5:45:51 PM EST
To: 
Subject: murfie.com TechStars & funding news
Reply-To:

Hi Scott!

We are a company based in Madison, Wisconsin that’s participating in the TechStars Boston program... As background, we’re building a more friendly, community-orientated music marketplace. We offer a buying, selling and trading platform with the benefits of CD ownership and the convenience of digital downloads.  We have just raised $1.4M in an oversubscribed round led by DaneVest Tech Fund along with some notable angel investors such as Barry Silbert of SecondMarket. Below is an advance copy of the release (under embargo until 12:00 a.m. on 1/26) with full details on the news.  If you have any questions or would like to speak with me about the news, please let me know.

Thanks!
Matt

--
Matthew Younkle, Cofounder & CEO

murfie.com | blog | twitter | facebook

Murfie.com Honored To Be Member of TechStars

Winter 2012 Boston Program

Digital Music Marketplace Start-Up Continues to

Attract Investor Interest and Raise Capital


BOSTON – Jan. 26, 2012 – Murfie, Inc. (murfie.com), an online digital music marketplace that offers music enthusiasts a platform for buying, selling and trading their media collections in physical and digital formats, announced today it was selected to be part of the TechStars Winter 2012 Boston Program.  Considered the No. 1 start-up accelerator in the world and touting selection rates lower than the Ivy League, TechStars chose Madison, Wis.-based Murfie from hundreds of applicants around the world as one of only 13 companies to participate.  

As part of the program, Murfie receives seed funding from different venture capital firms and angel investors, along with three months of  intensive top-notch mentorship and the chance to pitch for additional funds at the program’s conclusion.  More than 80% of TechStars companies participating have been funded with venture capital upon completion of the program or have quickly become profitable on their own.  To put this in perspective, there are nearly 2 million businesses created in the USA every year, and only 600–800 get venture capital funding.  

In addition to the opportunity presented by TechStars, Murfie just closed a funding round of $1.4 million dollars in an oversubscribed round led by DaneVest Tech Fund (www.danevestcapital.com) along with notable angel investors such as Barry Silbert, CEO of SecondMarket (www.secondmarket.com).  The funds are slated for marketing initiatives and scaling-up Murfie’s technical infrastructure.  

Since the friendly music marketplace launched in 2011, it has gained more than 4,000 customers and more than 120,000 CDs, with about 1,000 to 2,000 new CDs coming in per day.  

About Murfie
Murfie, Inc. develops patent pending software and  hardware systems that allow the company to offer its custtomers a platform for buying, selling, and trading their media collections in physical and digital formats.

About TechStars
TechStars (www.techstars.com) is an elite mentorship-driven start-up accelerator, recently recognized as the No. 1 accelerator program. Founded in 2006, the TechStars philosophy focuses on deep mentorship, and surrounding a small number of companies with highly engaged members of the entrepreneurial ecosystem to coach and support them to success. The TechStars community currently includes more than 300 mentors, more than 1,500 investors and over 120 alumni TechStars companies. TechStars currently operates five programs each year in Boulder, Boston,, Seattle, Texas, and New York. TechStars is funded by more than 50 venture capital firms and 25 angel investors. Information on applying to TechStars can be found at www.techstars.com/apply.

#   #   #

MTDC Funds Two MassChallenge Finalists, Libboo and vSnap

Funding for the two start-ups totals $80,000, but MTDC hopes to help them put together a larger round eventually.

SK


Begin forwarded message:

From: "Jerry Bird, MTDC" 
Date: January 24, 2012 8:55:18 AM EST
To: 
Subject: MTDC Funds Two MassChallenge Finalists, Libboo and vSnap
Reply-To: 

Having trouble viewing this email? Click here
MTDC

  Two MassChallenge Finalists, Vsnap and Libboo,

Win Big with MTDC Funding

 

MTDC today announced financial backing of two MassChallenge 2011 Alumni, Libboo and Vsnap. The two were selected from a "fast track" program that guaranteed funding for two startups and helped ensure the companies stay here in the Commonwealth.

 

Libboo is a platform dedicated to entirely transforming the process and economics of the publishing industry through empowering a social community of content creators. The creators believe that by helping authors, editors, illustrators, critics and marketers find one another within a well-organized environment, they will create better and more salable content while reducing the cost of its creation tenfold.

 

"Through our work with MassChallenge we were introduced to MTDC and its fast-track program. Being funded right out of the gate will allow us to sustain positive momentum and focus first on growing our business instead of fund raising," said Libboo Founder, Chris Howard. "We are excited to be working with MTDC and welcome their expertise in this early stage."

 

Vsnap is the most personal way to communicate with your customers and prospects. The company offers a set of simple applications that make it easy to send short video messages. The benefit is deeper engagement and as much as a 41% increase in action on the part of recipients as compared to email interactions.

 

"We are excited to be working with MTDC, and we continue to see value as a result of our participation in MassChallenge," said Vsnap CEO, Dave McLaughlin. "Both of these organizations are putting real resources to work to help fast-growth startups grow and create jobs in Massachusetts."

 

"The Patrick-Murray Administration has made a strong investment in making Massachusetts a world leader in the innovation economy," said Greg Bialecki, Massachusetts Secretary of Housing and Economic Development. "This partnership, and the funding that resulted from the fast track program, is another example of two organizations coming together to support promising Massachusetts companies and help them grow and stay here in the Commonwealth."

 

"Our goal with the fast-track program was to identify high-potential, Massachusetts startups graduating from MassChallenge, and give them some additional runway to prove out their value proposition," said Jerry Bird, President of MTDC. "Libboo and Vsnap are two exciting companies and we look forward to working with both Chris and Dave as they move their business forward."

 

You can read more about MassChallenge here: http://www.masschallenge.org/

 

About Massachusetts Technology Development Corporation

Massachusetts Technology Development Corporation (MTDC), is a leading edge venture capital firm that addresses the "capital gap" for start-up and expansion of early-stage technology companies operating in the Commonwealth of Massachusetts. MTDC has invested in many of Massachusetts' most promising new technology-based companies. More information is available at http://www.mtdc.com. 


 

NH Gov. Lynch Announces Companies Chosen for Green Launching Pad Funding

$1.5M in funding comes from the federal stimulus program...

SK


Begin forwarded message:

From: UNH Media Relations 
Date: January 18, 2012 2:16:30 PM EST
To: undisclosed-recipients:;
Subject: Gov. Lynch Announces Companies Chosen for Green Launching Pad Funding

Image001

Contact: Colin Manning

N.H. Governor’s Office

Lori Wright

UNH Media Relations


Jan. 18, 2012

Gov. Lynch Announces Companies Chosen for Green Launching Pad Funding
Funding Will Assist Three N.H. Companies Involved With Green Manufacturing

CONCORD, N.H. – Gov. John Lynch today announced the three businesses selected to participate in the next round of Green Launching Pad funding. The most recent round of funding will support businesses that help the state achieve the objectives of the ARRA-State Energy Program and N.H. Climate Action Plan, with an emphasis on green manufacturing while creating new jobs and contributing positively to the state’s economy.

The three winning teams are LDI Corporation of Portsmouth, RAS-Tech LLC of Brentwood, and Earthtec of Portsmouth. Since its inception in February 2010, 14 companies have received Green Launching Pad funding, and more than 450 people have attended Green Launching Pad seminars and events designed to help them commercialize their green products and services.

Lynch spearheaded the effort to create the Green Launching Pad, a partnership between the state and the University of New Hampshire that helps innovative companies bring new products to market and create jobs. 

"My first priority as governor remains helping our businesses grow and create jobs. While New Hampshire continues to lead the way in economic recovery, we must remain vigilant and focused on helping our businesses, and getting more of our people back to work," Lynch said. "Over the last two years, this partnership has had tremendous results, helping to launch 11 New Hampshire companies and create good jobs in the process."


"Manufacturing has long been an important part of our economy here in New Hampshire. It only makes sense that we do what we can to help bolster this important sector of our economy," he said.

The Green Launching Pad is funded with $1.5 million of federal economic stimulus funds from the U.S. Department of Energy.

Nearly 20 businesses and entrepreneurs submitted applications to compete in the latest round of funding. A panel of judges drawn from the industry selected three business teams that will be supported during the next three months to help them grow their business and create jobs.

“Revitalizing manufacturing in the state and the region is vital to economic prosperity. Our green manufacturing focus will help address economic and environmental concerns simultaneously through job creation and help stimulate the manufacturing sector through use of environmentally friendly materials, and a reduction in energy use in the manufacturing process and in unwanted by-products and waste,” said Venky Venkatachalam, project director of the Green Launching Pad and a University of New Hampshire professor of decision sciences.

A brief description of the winning teams and their projects follows:

LDI Corporation, Portsmouth

LDI plans to make green upholstery fabric for architects and interior designers who are looking to buy “green” products for their facilities. LDI has designed a coated furniture upholstery fabric that is made with more sustainable and ecofriendly materials. LDI has developed a manufacturing process to decoratively print this fabric with eco‐friendly inks and using a low-energy consumption process.

RAS-Tech LLC, Brentwood

RAS-Tech plans to enter the road crack sealant business. The raw materials to be used will be rubber containing factory scrap, waste shingles, and re-refined, used motor oil. RAS-Tech will expand their manufacturing facilities with these funds.

Earthtec, Portsmouth

This award will allow Earthtec to bring manufacturing jobs back to New Hampshire. Earthtec is an apparel company dedicated to sustainability, responsible manufacturing, and green business practices. From the raw materials used to the streamlined production processes, Earthtec works to minimize negative impact on our environment.


Founded in 2010, the Green Launching Pad is a strategic partnership of the University of New Hampshire and New Hampshire Office of Energy and Planning, with funding from the U.S. Department of Energy. The organization connects entrepreneurs and private industry with technical, scientific and business faculty, students and state-level resources to successfully launch and accelerate the growth of new green businesses. The Green Launching Pad is focused on creating new energy-related jobs in the Granite State and broadening economic opportunities.   

For more information about the Green Launching Pad, visit http://www.greenlaunchingpad.org/.


The University of New Hampshire, founded in 1866, is a world-class public research university with the feel of a New England liberal arts college. A land, sea, and space-grant university, UNH is the state's flagship public institution, enrolling 12,200 undergraduate and 2,300 graduate students.

-30-

Joule Secures $70M in Private Equity Investments for Growth

Seems like an exception to investors' anxiety about making capital-intensive investments in cleantech, huh?

SK

Begin forwarded message:

From: Felicia Spagnoli 
Subject: Joule Secures $70M in Private Equity Investments for Growth
Date: January 17, 2012 10:42:46 AM EST
To: Felicia Spagnoli 

JOULE SECURES $70M IN PRIVATE EQUITY INVESTMENTS FOR GROWTH

Proceeds to support scale-up to commercial production

WORLD FUTURE ENERGY SUMMIT – Abu Dhabi, UAE – January 17, 2012 –
 Joule today announced the closing of a $70 million third round of funding, supporting its aggressive timeline to commercialization and bringing its total to $110+ million raised to date. The round included investments from both new and prior undisclosed institutional and private sources that joined Flagship Ventures, Joule’s founding venture capital investor. The news was released in conjunction with Joule’s participation at the World Future Energy Summit, where President and CEO William J. Sims will present on the company’s behalf.

The proceeds will be applied towards the build-out and operation of a Joule facility located in Hobbs, New Mexico and slated for commissioning in the summer of 2012. The facility is designed to test and optimize Joule’s Helioculture™process and SolarConverter® system at incrementally larger scales, with the potential to expand to 1,000 acres for initial commercial production. This will also show the ease with which Joule’s process can scale from hundreds to thousands of acres, advantaged by a modular system design and lack of feedstock or resource constraints. Proceeds from the round will also support Joule’s global expansion plans and on-going technology development.

“2011 was a year of milestones for Joule, including the groundbreaking at our first production site, the expansion of our pilot plant, the issuance of additional patents; now totaling 11, the transition to our new world-class headquarters and labs, and the successful close of our largest funding round to date,” said Mr. Sims. “Our goal since inception has been to enable large-scale, renewable fuel production at unprecedented costs and volumes in the near term, without the obstacles and slow pace of biofuel progress. On the heels of our latest funding round and technology advancement, we’re in a very strong position to make it happen as planned.”

“Joule is among the most innovative and transformative companies to have emerged from our VentureLabs unit, encompassing numerous breakthroughs in a highly-efficient, scalable process that represents a new paradigm for liquid fuel production,” said Noubar Afeyan, Founder and Chairman of Joule and Managing Partner and CEO of Flagship Ventures. “Joule has now successfully moved beyond the research phase to prove the industrial viability of its approach, with a clear path to global implementation.”

The World Future Energy Summit is one of the world’s foremost annual meetings dedicated to advancing future energy, energy efficiency and clean technologies by engaging political, business, finance, academic and industry leaders to drive innovation, business and investment opportunities. Mr. Sims will present during the Technology Leaders in Future Energy session taking place on Wednesday, January 18. Additional information about the event is available athttp://www.worldfutureenergysummit.com/ .

About Joule 
Joule is advancing a technology platform for Liquid Fuel from the Sun™, expected to eclipse the scale, productivity and cost efficiency of any known alternative to fossil fuel today. Its transformative Helioculture™ platform directly and continuously converts sunlight and waste CO2 to infrastructure-ready diesel, ethanol or commodity chemicals with no dependence on biomass feedstocks, downstream processing or precious natural resources. This process can yield renewable fuels and chemicals in unprecedented volumes with a fraction of the land required by current methods, leapfrogging biomass-dependent approaches and eliminating the economic and environmental disadvantages of fossil fuels. Founded in 2007 by Flagship VentureLabs, Joule is privately held and headquartered in Bedford, Massachusetts. Additional information is available at www.jouleunlimited.com.

Please note our new address

Felicia Spagnoli
Communications Director
Joule Unlimited
18 Crosby Drive
Bedford, MA 01730

MIT Sloan MBA students embark on annual "Tech Trek"

One of the ways Boston can enhance its innovation economy is by doing a better job exposing students to job opportunities here...and more schools ought to have "tech treks" or "biotech treks" or "finance treks" that give students an opportunity to visit companies.

MIT Sloan MBA students are spending Monday and Tuesday visiting ITA Software (now part of Google), Jumptap, Skyhook Wireless, HubSpot, and GE Healthcare, among others.

SK

Begin forwarded message:

From: "Paul Denning" 
Date: January 3, 2012 1:59:38 PM EST
Subject: MIT Sloan MBAs invite you to Boston "Tech Trek" Jan. 9-10...

Hello Scott

You are invited...

A traveling troupe of MIT Sloan School of Management MBA students will get an on-the-ground look at the current economic recovery as they visit many large and small companies in Greater Boston next Monday and Tuesday, January 9-10, on their annual "Tech Trek.”

Among the companies included in the trek are Google/ITA, GE Healthcare IT, as well as several startups like HubSpot, Locu, Jumptap, WebReply and SkyHook Wireless.  (see more on trek below)...

 

Paul Denning

MIT Sloan School of Management


P.S. Please forward as appropriate 


Facebook is good, but personal face time is better, say MIT Sloan MBAs

Social media helps, but hands-on contact is key tool in annual job hunt

CAMBRIDGE, Mass., January 2, 2011--They may need regular Facebook fixes and are literally joined at the hip to their smart phones, but some MIT Sloan School of Management MBAs see big added value in using the good old-fashioned personal touch as they embark on job-hunting, network-building “Tech Treks” to Seattle, Silicon Valley, and Boston.

“Social networks facilitate connections, but when deciding where you may begin your career, there’s no replacement for face-to-face meetings and conversations,” said Michael Smouha, a native of Montreal who will join about 30 classmates on next month’s Trek to Silicon Valley to meet with MIT Sloan alumni and officials at firms such as eBay, Intel, LinkedIn, Symantec, Facebook, and Google. Other MBA Sloan students will visit technology and other companies in the Boston and Seattle areas during the January Treks that have become an annual MIT Sloan event.

“Although a simple contact can be gained from an online search or a social media connection, the connections that we make during our treks have the potential to be much more powerful,” said Margaret Draughon, who grew up in Milwaukee and is participating in all three trips.  “It’s a way to meet people in the industry and have a chance to hear their perspective on the roles or companies first hand. Most importantly, our trek gives the participants the chance to see these cities and companies in person and attempt to answer the question, ‘Do I fit here?’”

While today’s employers assume that job applicants are fully savvy in social media, they “are also increasingly looking for people who are comfortable with ambiguity and who can navigate through ups and downs,” said Konstantina Georgaki, who is from Greece and is participating in the Boston trek, which will include stops at  companies such as Nokia, Zipcar, and Akamai. “Being technologically savvy is almost a given, so firms are now looking for more evidence of creativity and innovation. The question is not if you can follow the curve, but if you can invent the next one.”

Would-be employers are also seeking changing skill sets, said Boston-native Kousha Bautista-Saeyan, who is joining the Trek in Boston, which is “a hotbed for lots of startups. The business landscape always evolves. Where tech is concerned, big data and analytics seem like the next big trends. The more versed job-seekers are in those skills, the more luck they may have on the job market.”

That job market may also be improving, said several Trekkers. “While economic recovery may still be a ways off, recruitment on campus is back to previous levels,” said Bautista-Saeyan. “I’m confident that we will all find jobs as long as we put the effort in to get what we want.”

For Smouha, who co-founded a pop culture portal called Velvetpanda at the age of 16, the Treks offer ways to learn not only about employers, but places. “I want to find out what the culture is like in a tech hub such as Silicon Valley, and whether I can see myself living there for the long haul. But for someone with little exposure to big tech, it seems like Google is Nirvana for the creative, entrepreneurial type. Any company that produces self-driving cars is one I need to seriously consider as a career choice.”

While the Trekkers will visit major players such as Google, they will also meet MIT Sloan alumni and others at lesser-known companies and in different business sectors. “I feel that in a short span of time I will get exposure to everything from gaming and e-commerce to cloud computing and enterprise services,” said Draughon.  

If you would rather not receive future communications from MIT Sloan School of Management, let us know by clicking here.
MIT Sloan School of Management, Office of Media Relations 238 Main Street, Cambridge, MA 02142 United States

Newton, MA based Cyber-Ark announces $40M round

Cyber-Ark had previously raised $25 million...

SK


Begin forwarded message:

From: Brian Merrill 
Date: December 21, 2011 10:28:10 AM EST
To: 
Subject: Newton, MA based Cyber-Ark to announce $40M round – interest?

Good Morning Scott –

Quick update on some big news from a local tech company before it hits the wire this afternoon - Newton, MA based Cyber-Ark, and information security company addressing advanced enterprise threats, is going to announce a $40 million dollar round from Goldman Sachs and Jerusalem Venture Partners (JVP).   We weren’t able to give a heads up days prior, but the news hasn’t gone out yet, so wanted to send to you before it did.  The news, which has not been published anywhere yet, will go out on the wires at 11:30 a.m. ET today, but if you’re interested in talking to Cyber-Ark CEO Udi Mokday prior to that, we’re happy to set it up.  

As part of the financing, Cyber-Ark will also add JVP founder and chairman Erel Margalit as Chairman of the BoD – Mr. Margalit has led 13 IPOs during his career, and played an instrumental advisory role in Qliktech’s (NASDAQ: QLIK) IPO – one of the biggest in 2011.  Cyber-Ark will also be adding David Campbell, VP in the merchant banking division of Goldman Sachs, to the board. 

Some background on the company – Cyber-Ark is the recognized leader in the privileged identity management market, tabbed by IDC research as the fastest growing segment of the $4B Identity and Access Management market.  The company specializes in protecting and managing privileged users and accounts – the most powerful accounts in the enterprise, as they provide access to all information on a target system (see recent Ponemon survey on the privileged challenge for background). 

These privileged access points are increasingly becoming the primary target for cyber-criminals because of the far reaching access they provide.  Some of the most high-profile breaches in 2011 occurred through poorly protected privileges, including the Cyber-Attack on Canada, the RSA hack, and even the Sony hacking incident.  In each of the incidents – the hackers may have used different methods to infiltrate the business, but once inside, they all sought to obtain privileged access – which provides access to virtually anything on the network.  Cyber-Ark prevents these privileged accounts from being shared, abused or breached.

If you’re interested in a quick call with Cyber-Ark CEO Udi Mokady, happy to set it up.  Full press release is below.

Regards,

Brian

Brian Merrill

Vice President

fama PR

www.famapr.com

JVP and Goldman Sachs Lead $40 Million Investment Round in Cyber-Ark Software

Industry-Leading Provider of Privileged Identity Management Solutions Serving the World's Largest Corporations and Banks

---

Record Sequential Revenues Throughout 2011 with Introduction of New Solutions to Protect Against Advanced Security Threats and Cyber Attacks

---

Transaction Includes JVP and Goldman Sachs Acquiring Shares from Existing Shareholders as Well Provision of Growth Capital to Company

NEWTON, Mass. - December 21, 2011 - Cyber-Ark® Software, a leading global information security provider for protecting and managing privileged accounts and sessions, critical applications and sensitive information, today announced that it has signed an agreement for a $40 million investment round led by Goldman Sachs (NYSE: GS) and Jerusalem Venture Partners (JVP). The transaction includes the purchase of shares from existing shareholders, as well as the provision of growth capital for the company. As part of the round, JVP’s Founder and Chairman Erel Margalit will be nominated Chairman of the Company and David Campbell, a Vice President in the Merchant Banking Division at Goldman Sachs, will join the Board.

Cyber-Ark will use the proceeds to further accelerate growth, while capitalizing on its position as a market leader in Privileged Identity Management, one of the fastest growing segments within the $4 billion Identity and Access Management market1. In both traditional data centers and in the cloud, managing access to accounts and data is at the core of delivering system security and trust. Following the round, Cyber-Ark's main shareholders will include JVP, Goldman Sachs, Vertex Venture Capital and Cabaret-ArbaOne.

"As one of the Company's longest-standing investors, we are strong believers in building large international companies," commented Gadi Tirosh, General Partner at JVP. "Cyber-Ark has grown and evolved substantially over the past decade and, as it reaches this inflection point, we look forward to now taking it to the next level working together with our new partner Goldman Sachs and the company's management.”

“We were attracted to Cyber-Ark’s leading technology solutions in the large and fast growing market of securing corporate cyber assets,” noted David Campbell. “Cyber-Ark has significant customer traction with some of the world’s largest enterprises and a history of producing cutting edge security software. The Company’s top class management team has a strong track record of demonstrating consistent and profitable growth.”

In recent years, Cyber-Ark has experienced significant customer growth, expanding to nearly 1000 enterprise customers worldwide, including 8 of the Top 10 global banks and more than 35 percent of the Fortune 100 companies. Cyber-Ark’s solutions enable its customers to proactively protect their organizations against insider threats and advanced external threats. Cyber-Ark’s award winning product suites have also been selected by large cloud and hosting providers as part of their standard cloud fabric to secure their customers’ systems and data. In addition to growing its customer base, Cyber-Ark presented strong sequential revenue growth throughout 2011, generating a healthy cash flow and continued profitability – with increasing contribution from its 100 global channel partners.

“We are excited about the strong vote of confidence Cyber-Ark has received from JVP, as well as the opportunity to welcome the prominent global investment group, Goldman Sachs, into the company. We look forward to leveraging this substantial investment to further expand and build on our market leadership and global presence in the Privileged Identity Management space. In addition, we will drive continued innovation in enterprise class solutions to protect against advanced internal and external information security threats,” concluded Udi Mokady, President and CEO of Cyber-Ark Software.

“As Cyber-Ark’s co-Founder, I’m both proud and excited about this transaction that will enable several of the company's longer standing partners, including myself, to capitalize on many years of dedication towards building this company into a prominent security leader. I strongly believe that as Cyber-Ark transitions to its next phase of growth, JVP and Goldman Sachs will be best suited to lead the Company in its continued global expansion,” added Alon N. Cohen, Co-Founder and outgoing Chairman of Cyber-Ark Software.

1 – IDC, Worldwide Identity and Access Management 2011–2015 Forecast: The Three Cs — Cooperation, Collaboration, and Commitment — Are Key for Identity-Driven Cloud, Doc # 228914, June 2011   

About Cyber-Ark

Cyber-Ark® Software is a global information security company that specializes in protecting and managing privileged users, sessions, applications and sensitive information to improve compliance, productivity and protect organizations against insider threats and advanced external threats. With its award-winning Privileged Identity Management, Sensitive Information Management and Privileged Session Management Suites, organizations can more effectively manage and govern data center access and activities, whether on-premise, off-premise or in the cloud, while demonstrating returns on security investments.  Cyber-Ark works with nearly 1000 customers, including more than 35 percent of the Fortune 100. Headquartered in Newton, Mass., Cyber-Ark has offices and authorized partners in North America, Europe and Asia Pacific. For more information, please visit www.cyber-ark.com.


About JVP

JVP is one of Israel's most prominent venture capital funds. Established eighteen years ago and with over $900 million dollars under management through eight funds, JVP has orchestrated twenty three of the largest exits out of Israel. The Fund's most recent exit, in portfolio company QLIK Technologies (NASDAQ: QLIK, $2.6bn mkt. cap.) was one of the most noted technology IPOs of the last decade. JVP is headquartered in the JVP Media Quarter in Jerusalem, home to 12 of JVP's portfolio companies and the Fund's early stage incubator, JVP Media Labs which invests in early stage media companies targeting fields such as: Web, mobile, advertising, gaming as well as enterprise software. The JVP Media Quarter is also home JVP's Community activities: Zappa Jerusalem in The Lab, the Center for Performing Arts, and "Bakehila" the youth empowerment program supporting 3,000 youngsters in 5 underprivileged Jerusalem neighborhoods. For additional information on JVP please visit: http://www.jvpvc.com

About Goldman Sachs

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world. For additional information on Goldman Sachs please visit: http://www.gs.com

Survey of VCs and venture-backed CEOs says 'realism' is reigning outlook for 2012

Investors expect to stay bullish on tech, bearish on biopharma, med devices, and cleantech...

SK

Begin forwarded message:

From: "Gagliardi, Kimberly" 
Date: December 14, 2011 9:05:06 AM EST
Subject: Optimism wanes for start-up ecosystem as VCs, CEOs face economic realities of 2012

OPTIMISM WANES FOR START-UP ECOSYSTEM AS VENTURE CAPITALISTS AND CEOS FACE ECONOMIC REALITIES IN 2012

NVCA and Dow Jones VentureSource Predictions Survey Shows Enthusiasm for IT Sector and Start-Up Company Growth Amidst Concerns About Exit Markets and Fundraising

December 14, 2011, Washington, D.C. --  Realism, rather than optimism, abounds for the venture capital and start-up economies in 2012, according to the results from this year’s Venture View predictions survey conducted by the National Venture Capital Association (NVCA) and Dow Jones VentureSource.  When compared to last year’s survey, forecasts from venture capital professionals (VCs) and venture-backed CEOs are less confident and more measured for the coming year, with few notable bright spots.  There is considerable enthusiasm for information technology (IT) investment, particularly on the consumer side, as well as start-up company momentum, especially job growth. Yet, predictions in critical areas such as IPOs and venture fundraising are tepid at best, reflecting ongoing, unavoidable challenges faced by VCs and entrepreneurs alike.

"Due to the large number of market and political factors at play, it is incredibly difficult to predict the state of the venture capital ecosystem in 2012,” said Mark Heesen, president of the NVCA.  “Despite the fact that venture capitalists and entrepreneurs are well positioned to thrive, externalities are keeping optimism at bay.  The venture industry is not an island unto itself and economic instability here and abroad, coupled with a number of public policy issues poised to impact the start-up community, can offset the positives such as an improving IPO pipeline and opportunities for FDA and capital markets reform.  These uncertainties are clearly to blame for the less sanguine predictions this year.  However, it is encouraging to see venture capitalists and entrepreneurs forecasting a number of positives including increasing valuations, headcount, and global activity amidst the realities that face our industry."

The sixth annual Venture View survey reflects responses from more than 500 venture capital professionals and CEOs of venture-backed companies in the U.S. collected between November 30 and December 9, 2011.

CEOs More Optimistic Than VCs on Investment Levels; IT Sectors Predicted to Rise as Life Sciences and Clean Technology Decline

CEOs are more optimistic about the level of venture capital investment overall with 45 percent predicting increases in 2012 compared to 32 percent of venture capitalists who expect to see investment levels rise.  Thirty-six percent of VCs see overall investment levels decreasing compared to 25 percent of CEOs.  Both groups are less bullish than they were in last year’s Venture View survey when 58and 51 percent of CEOs and VCs expected investment increases respectively. 

Most venture capitalists predict investment increases in consumer IT (64 percent of respondents), healthcare IT (61 percent of respondents) and business IT (50 percent of respondents).  Seventy-three percent of all respondents expect investment froth in consumer IT.  On the flip side, 58 percent of VC industry respondents expect investment decreases in the biopharmaceutical and medical device sectors and 55 percent expect investment levels to decline in clean technology companies.

Tougher Funding Environment for Companies and Venture Firms

Next year, there will be a seed and early stage funding shortage according to 58 percent of VCs. CEOs anticipate a difficult funding environment as well with 67 percent predicting that raising follow-on money will be equally or more difficult in 2012 than in 2011.  Still, 75 percent of the CEOs plan to raise money in the coming year.

On the venture capital side, fundraising is expected to continue to be difficult with 73 percent of VCs predicting total commitments to remain the same or decline in 2012.  This compares to 2011 when 62 percent forecasted stable or declining levels of fundraising.  Further, 69 percent believe that limited partner agreements will favor LPs with only six percent predicting they will favor GPs.

“We can expect a competitive environment for capital on both sides of the venture business in 2012,” said Jessica Canning, global research director for Dow Jones VentureSource. “With nearly three-quarters of VCs predicting limited partners will commit the same amount or less to the industry and about the same proportion of CEOs expecting to raise money, financings could get tighter with some companies left to survive on their own.”

IPO Market Predictions Tepid; More Bullish on Acquisitions

Overall, venture capitalists are much less bullish on the 2012 IPO market with 48 percent forecasting increases in overall volume compared to 67 percent last year.  Greatest gains are predicted for the technology IPO sector where 63 percent of VCs predict volume increases.  Only 18 and 15 percent of VCs predict IPO volume increases in the life sciences and clean technology sectors respectively. The majority of VCs (57 percent) do not see performance improvements in venture-backed IPOs overall or in any particular sector in 2012.  CEOs are making similar predictions with 49 percent predicting volume increases in venture-backed IPOs for 2012 compared to 58 percent in 2011. 

Venture capitalists are more positive on venture-backed acquisitions with 69 percent of respondents predicting higher acquisitions volume and 43 percent anticipating higher acquisition quality. This is still less optimistic than in 2011 when 82 percent of VCs predicted acquisitions volume increases and 51 percent forecasted higher quality.  Similarly, 76 percent of venture-backed CEOs believe there will be more acquisitions in 2012 compared to 81 percent in 2011.

Alternative Exit Activity Plans are Limited

Only 16 percent of venture-backed CEOs plan to cash out their personal equity in 2012 and just six percent plan to sell secondary shares.  Yet, nearly half of the VC respondents expect more activity on the secondary market next year.  In terms of actual exits, 36 percent of CEOs predict their companies will be acquired in 2012 by a public company and 22 percent forecast being acquired by a private company. Twenty-three percent think their company will acquire another company.  Six percent expect to IPO in 2012.

VCs and CEOs More Bearish on Economy; See Gains in NY

CEOs are more optimistic about the U.S. economy with 53 percent expecting improvements next year compared to 47 percent of VCs.  Yet, both are more bearish than they were in 2011 when 63 and 64 percent of VCs and CEOs thought the economy would improve in the coming year.  Regionally, 46 percent of VCs and 41 percent of CEOs expect the New York start-up ecosystem to improve further in 2012.  Both groups were less optimistic about improvements in Silicon Valley (34 percent of VCs and 42 percent of CEOs) and New England (25 percent of VCs and 34 percent of CEOs).

Global VC Investment Activity Predicted to Increase with Fewer Going to China

Fifty percent of the VC respondents will invest outside the U.S. next year with China and Western Europe being the most cited global region at 19 percent each, followed by Canada (14 percent), India (12 percent), Latin America (10 percent), Eastern Europe (7 percent), Middle East (6 percent), Africa (4 percent) and Japan (3 percent). In 2011, 47 percent of VCs planned to invest outside the U.S., though last year’s survey showed more anticipated investing in China and India at 26 and 18 percent respectively.  The proportion of VCs planning to invest in Western Europe, Canada and Latin America remain essentially unchanged from 2011 predictions.

Venture Capitalists and CEOs Align on Term Sheet Expectations

The expectations of venture capitalists and CEOs regarding deal structure are converging with 53 percent of VCs and 56 percent of CEOs believing that financing terms will favor VCs over entrepreneurs in term sheet language.  Last year, the two stakeholders were much further apart on this issue with 42 percent of VCs and 61 percent of CEOs believing that VCs would be favored in term sheet structures.  

CEOs More Engaged in Social Media Than VCs

VC-backed companies are expected to get a great deal of social media support in 2012 as 58 percent of VC respondents expect to use social media channels to promote their portfolio companies and 56 percent intend to promote their firms in this way. Market intelligence (50 percent), publishing thought leadership pieces (39 percent) and hiring (38 percent) are other activities for which VC firms anticipate using social media next year.  Twenty-three percent of VCs will not use social media at all in 2012.

VC-backed CEOs predict being more active in social media than their VC counterparts with 73 percent planning to us the channels for public relations, 64 percent for sales and marketing, 54 percent for hiring, 47 percent for market intelligence, 38 percent for publishing thought leadership pieces, and 33 percent for customer service.  Only 12 percent of the CEOs do not plan to use social media next year.

Portfolio Companies Expect Good Progress in 2012

Both VCs and CEOs are optimistic about valuations in 2012 with 63 percent and 80 percent respectively expecting increases next year. Last year, 50 percent of VCs and 77 percent of CEOs expected valuations increases.  Sixty-nine percent of CEOs will increase global activity at their companies next year.  Eighty-six percent of all venture-backed CEOs expect to increase their head count in 2012.

Romney Vs Obama in 2012 with Obama Winning by Slim Margin

The venture capital ecosystem predicts that Mitt Romney will be the 2012 Republican Presidential nominee with 79 percent of VCs and 67 percent of CEOs saying so, followed distantly by Newt Gingrich at 17 percent of VCs and 27 percent of CEOs.  A second term in office for President Obama is in the future according to 64 percent of CEOs and 56 percent of VCs.

For a copy of venture capital and CEO individual predictions, please visit:

For a copy of the corresponding Venture View slide deck please visit:  www.nvca.org/VentureView2012_slides

About NVCA
Venture capitalists are committed to funding America’s most innovative entrepreneurs, working closely with them to transform breakthrough ideas into emerging growth companies that drive U.S. job creation and economic growth. According to a 2011 Global Insight study, venture-backed companies accounted for 12 million jobs and $3.1 trillion in revenue in the United States in 2010. As the voice of the U.S. venture capital community, the National Venture Capital Association (NVCA) empowers its members and the entrepreneurs they fund by advocating for policies that encourage innovation and reward long-term investment. As the venture community’s preeminent trade association, NVCA serves as the definitive resource for venture capital data and unites its nearly 400 members through a full range of professional services. For more information about the NVCA, please visit www.nvca.org.

About Dow Jones VentureSource
The Dow Jones VentureSource database tracks the activity of private investment firms and venture-backed companies in all industries and stages of development, worldwide. For information, visit http://www.dowjones.com/privatemarkets/.

About Dow Jones
Dow Jones & Company is a global provider of news and business information and a developer of technology to deliver content to consumers and organizations across multiple platforms. Dow Jones produces newspapers, newswires, Web sites, apps, newsletters, magazines, proprietary databases, conferences, radio and video.  Its premier brands include The Wall Street Journal, Dow Jones Newswires, Factiva, Barron’s, MarketWatch, SmartMoney and All Things D. Its information services combine technology with news and data to support business decision making. The company pioneered the first successful paid online news site and its industry leading innovation enables it to serve customers wherever they may be, via the Web, mobile devices and tablets. The Dow Jones Local Media Group publishes community newspapers, Web sites and other products in six U.S. states. Dow Jones & Company (www.dowjones.com) is a News Corporation company (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV; www.newscorp.com).


Mark Cuban and Daymond John of "Shark Tank" will evaluate student business ideas at Babson tomorrow

FUBU founder Daymond John is an entrepreneur-in-residence this year at Babson... and he picked the two students who will pitch to him and entrepreneur/investor Mark Cuban on Tuesday. You can watch the livestream at http://babson.edu

Both John and Cuban appear on the ABC show Shark Tank.

SK

Begin forwarded message:

From: "Chmura, Michael" 
Date: November 28, 2011 11:49:58 AM EST
To:
Subject: Entrepreneur Daymond John & NBA team owner Mark Cuban at Babson tomorrow, November 29th - meet the Sharks event

Hi Scott

We have 2 Sharks visiting Babson tomorrow.  Here are the details.

Michael

ABC Television Shark Tank Hosts/Entrepreneurs Daymond John & Mark Cuban will visit Babson College Tuesday, November 29th.

The entrepreneurs will hold a Meet The Sharks event with Babson student businesses True Intentions and Spy Games as well as participate in a Q&A with the student audience.

Schedule - Olin Auditorium, Olin Hall, Babson Campus

10:30                     President Len Schlesinger kick-off 
10:40                     Entrepreneur-in-Residence Daymond John welcomes, introduces Mark Cuban
10:45                     True Intentions 3 minute biz pitch - Sharks discuss with Entrepreneur
11:05                     Spy Games 3 minute biz pitch – Sharks discuss with Entrepreneur
11:20                     Q&A
11:35                     Closing remarks

Daymond John
Entrepreneur-in-Residence at Babson College 2011-2012.  Daymond John's creative vision helped revolutionize the sportswear industry in the 1990s. As founder, president and chief executive officer of FUBU—“For Us, By Us”—Daymond created distinctive and fashionable sportswear and a host of other related gear. FUBU's phenomenal success made mainstream apparel companies realize the potential for fashionable sportswear that appeals not just to trendsetting urban youth, but to mainstream teens as well.

http://abc.go.com/shows/shark-tank/bio/daymond-john/276281

Mark Cuban
He is the highly successful entrepreneur and investor who founded HDNet, 
Broadcast.com and MicroSolutions. He has also been an investor in startups, including Mahalo, JungleCents.com, motionloft.com, Filesanywhere.com, Naked Pizza and 140Fire.com.  Mark may be best known for his purchase of the Dallas Mavericks on January 4, 2000. Under his leadership, the team's home games have become a total entertainment experience. Despite initial criticism, he added much more to the usual game-day experience by introducing original video content, advanced technology and unique entertainment options like the Mavericks ManiAACs. His successful efforts have brought a sense of pride and passion to the fans. http://abc.go.com/shows/shark-tank/bio/mark-cuban/727229

True Intentions
We are a lost bunch with troubled pasts - trouble in the relationship department, that is.
·         Ever asked a person out only to get unequivocally rejected? Been there.
·         Ever got tongue-tied in the presence of that special someone? Done that!
·         Ever ruined a great friendship by misreading social signals? Been there, done that - many times!
Whether scared silent by the fear of rejection or being too considerate to impose our feelings on others, our list of missed opportunities grows. We were convinced that we were not the only ones who had suffered. So we created a private and secure platform - trint.me where you can express your true intentions (trints) for your friends without your friends' knowledge. Your friends also do the same - without your knowledge. Our patented technology informs you and your friend when your trints match. If there is no match, you and your friend never know about the others' intentions. https://www.trint.me/about.php  and 

Spy Games
Have you ever imagined yourself as a character in a movie? Spy Games is a live-action Choose Your Own Adventure game played in the real world. Think "How to Host a Murder" meets "The Amazing Race!" 

Michael Chmura
Director of Public Relations
Babson College
Babson Park, MA 02457


CustomMade raises $2.1 million from Google and First Round Ventures

Wrote about these guys last month in the Globe:

SK

Begin forwarded message:

From: Kendra Boccelli 
Date: November 17, 2011 3:17:22 PM EST
To: Scott Kirsner 
Subject: CustomMade Receives Funding from Google and First Round Ventures

Hi Scott,

Hope you're well!

I am writing to you on behalf of Cambridge, MA-based CustomMade.com, the first online peer-to-peer marketplace connecting shoppers with skilled artisans who create unique luxury custom goods including furniture, cabinetry and jewelry. CustomMade today announced it has secured $2.1 million in a Series A round of financing.  The funding was led by First Round Capital and Google Ventures with participation from Founder Collective, Launch Capital, NextView Ventures, and Andrew McCollum, former co-founder of Facebook, and David Tisch of TechStars New York City, among other investors.  CustomMade also announced new site features.

CustomMade will use the new funding to expand its team and operations so it can continue to take advantage of the tremendous and growing demand for custom and craft goods. In the last month alone, there have been more than $2 million in project requests posted to the site at an average price of $1,500 per job. CustomMade is changing the retail-buying paradigm in these market segments by allowing consumers to buy exactly what they want, custom made or customized, rather than being relegated to a traditional retail environment.

The press release follows. Please let me know if you'd like additional info or if you'd like to speak with the founder of CustomMade.

Thanks and best, Kendra

Click here to download:
CustomMadePressReleaseFINAL.docx (216 KB)
(download)