July 25, 2016 | Philadelphia Business Journal by Mahesh Narayanan
Like gossip spilling through the halls of a high school cafeteria, word is out. At first it was the faint whispers, but it quickly amplified to boisterous chatter. Philadelphia has everything a new business needs to build, scale, and stay.
It’s why my company, ImMAGE Biotherapeutics, has decided to establish a presence in the country’s fifth largest city.
With close proximity to venture capital, strong ties to some of the best academic institutions in the world and a massive talent pool that continues to grow, Philadelphia has always had a noticeable potential, especially in the biotechnology industry.
Although we still have a small team, and operations are headquartered in Bethesda, Maryland for now, establishing a desk at the University City Science Center is an important strategic decision. Here were some of the key determining factors:
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February 5, 2015 | Philadelphia Business Journal by Lauren Hertzler
Velano Vascular announced Thursday that it raised $5 million in Series A funding.
The investment round was led by First Round Capital, which co-invested in Velanolast year with Startup PHL (a $6 million seed-fund initiative created by First Round and the PIDC).
Other Velano investors include Safeguard Scientifics and the Children’s Hospital of Philadelphia, as well as Philadelphia outsiders White Owl Capital (New York), Kapor Capital (California) and Griffin Hospital (Connecticut).
The Philadelphia and San Francisco-based company, which is just starting to come out of the woodwork, has created a needle-free method for drawing blood from hospitalized patients, ultimately “bringing compassion into care,” said its co-founder and CEO Eric Stone. Stone founded the company with Pitou Devgon, who invented Velano’s technology. …
December 19th, 2014 | Philadelphia Business Journal by Lauren Hertzler
As the year comes to a close, these five Philadelphia technology startups can look back on 2014 with pride. They all successfully raised Series B financing rounds, a massive accomplishment for a growing business.
When a startup meets significant milestones, it’s likely to secure a Series B round, if it’s going the investor route. The financing round before Series B is Series A, understandably.
- In June, Curalate, which has had consistent growth in its product’s offerings, raised $8.6 million from longtime investors New Enterprise Associates, First Round Capital and MentorTech Ventures. Vayner RSE, social media guru Gary Vaynerchuk‘s venture firm, also joined in on the funding for Curalate, a 2-year-old analytics and marketing suite for Pinterest, Instagram, Facebook and Tumblr.
- RJMetrics unveiled in September that it had raised a massive $16.5 million, led by Silicon Valley-based August Capital, which has invested in a slew of successful businesses like Microsoft, Skype and Sun Microsystems. RJMetrics’ co-founder and CEO Robert Moore said the new funding would go toward accelerating the analytics platform’s product development and continuing customer growth.
- Aclaris Therapeutics is a dermatology biotech company that raised $21 million in a private stock sale in October. The Series B venture capital financing followed the company’s completion of a phase-II clinical trial that yielded positive results for its lead product candidate, A-101, which is being developed as treatment for a common type of skin tumor known as seborrheic keratoses.
- Earlier this month, Zonoff announced that it raised $31.8 million. Last November, Zonoff entered into an agreement with Staples to provide the software platform that powers Staples Connect, a home automation solution found in hundreds of Staples retail stores today.
- LiquidHub, a systems integrator and technology consultancy that works with businesses to improve customer engagement and drive growth, announced a $53 million investment led by private equity firm ChrysCapital in March. The investment supports LiquidHub’s development plans — including more strategic mergers and acquisitions (like the one with Foundry9 in October.)
October 29th, 2014 | Philadelphia Business Journal by Lauren Hertzler
Local entrepreneur Gabriel Mandujanotook home the largest prize — $25,000 — at Tuesday’s Blackstone LaunchPad Demo Day in New York.
It was Blackstone LaunchPad’s first event of its kind, and 31-year-old Mandujano wasone of 20 national finalists. Mandujano, a faculty member at Philadelphia University, was the only person from the Philadelphia region to make the cut.
July 24, 2014| Philadelphia Business Journal by Lauren Hertzler
Zoe Goldberg, a soon-to-be senior at the University of Pennsylvania, has summer plans quite unusual for a typical 21-year-old.
Instead of turning her brain off for the remainder of her last summer vacation, she’s spending five weeks in an intense website development camp, dubbed Philly Dev Camp, run by Zivtech and Neomind Labs.
Philly Dev Camp, which kicked off this week in a Zivtech workroom, is made possible from a $24,000 grant from StartUp PHL, the City of Philadelphia Department of Commerce and Philadelphia Industrial Development Corporation initiative. The camp’s goal is to train interested individuals, and ultimately create a group of talented Web developers, who can boost the city’s tech scene.
“I always hated my job before coming into this field,” said Jody Hamilton, Zivtech co-founder and chief technology officer. “And this is such a good job. There’s demand for this job, it pays well, you can work in Center City in a nice office, it’s creative, you work with interesting people. There’s nothing bad you can say about these [Web developer] jobs.”
The only missing piece, Hamilton continued, is finding people with the right skills to do the work.
December 11, 2013 | Philadelphia Business Journal by Zenovia Campbell
DreamIt Ventures has a new headquarters. The startup accelerator is moving to theUniversity City Science Center in a partnership with Drexel University. The second and third floors of the Science Center building will transform into an “innovation hub” in April 2014. In addition to housing DreamIt Ventures, the 17,500 square foot space will also have space for local entrepreneurs. Drexel’s Expressive and Creative Interaction Technologies (ExCITe) Center, which opened last fall, occupies the Science Center’s first floor.
Also announced Wednesday was Drexel’s $3 million investment to DreamIt Fund II, a fund for aspiring entrepreneurs. While the company hopes to raise $30 million, DreamIt Co-Founder David Bookspan declined to comment on the amount raised to date.
July 11, 2013 | Philadelphia Business Journal by Peter Key
Curalate celebrated its move to a new Center City location Thursday with a visit from Philadelphia Mayor Michael Nutter.
“Curalate’s growth is yet another sign that Philadelphia is increasingly becoming a hub for fast-growing technology companies and a place for entrepreneurs to start and grow their businesses,” Nutter said in a statement released by his office.
October 19, 2012 | Philadelphia Business Journal by Natalie Kostelni
“When Josh Kopelman of First Round Capital decided to relocate to University City from the office submarket of Conshohocken, Pa., he settled on 4040 Locust St. The space was familiar to him…”