Another week, another Boston-area tech IPO. The latest public company in town is HubSpot, based in Cambridge. The marketing software company netted about $114 million in its public offering, and is now valued at over $900 million. The news comes on the heels of online retailer Wayfair’s IPO, but this isn’t really a new era in Boston tech. Both companies have been around for years; they raised a lot of money from investors, hired big teams, and built global businesses. What is clear is that after many years, Boston is finally pulling its weight in the tech IPO market.
In other innovation news:
— Waltham’s GMZ Energy is making a comeback with a new product that turns waste heat into electricity. The MIT and Boston College spinout is one of many companies that started in the solar industry and then had to change up.
— Our deal of the week is an > $8.75 million funding round for PillPack. The online pharmacy startup helps people manage and track their medications, and should be available nationwide by early next year.
— And lastly, is the funding explosion in digital health actually good for your health? So far there’s little proof, but Joe Kvedar from Boston’s Center for Connected Health says companies need to find a happy medium between fast-pivoting tech startups and slow-moving drug development. In other words, check back after Apple figures it all out.
