Borealis delivers superior returns by sourcing unique early-stage investment opportunities in the areas of application software, Internet and mobile media, and technology commercialization. We typically lead (or co-lead) a company’s first round of institutional capital and make follow-on investments as appropriate, with a total commitment of $2 - $5 million per company. As founders’ partners and active investors, we serve on the board and leverage our operating expertise and networks to add value, mitigate risk, and accelerate growth and exit. Our investments are concentrated in Northern New England (Boston and north), but we invest nationally within our sectors of expertise.
Learn more about Borealis
Ventures...
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| 80108 Media Merges with go2 |
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80108 Media has merged with go2 to form go2 Media™,
a company focused on the growing user demand for
more localized, personalized mobile content. The
merger adds go2’s traffic, carrier and advertiser
relationships to 80108’s pioneering content network of
local mobile correspondents and proprietary SMS
delivery system.
The combined company will be led by 80108’s founder
and CEO Rob Adler. According to Adler, “go2 Media will
further enable carriers to deliver a more relevant content
experience to a broader base of subscribers that can be
reached by advertisers on both a broad and targeted
basis.”
A leader in mobile search and directory services since
1999, go2 owns and operates a broad range of online
and mobile websites including go2 Movies, go2 Dining,
go2 Pets, go2 Golf and over 300 mobile websites
dedicated to specific colleges and universities throughout
the U.S. go2 has delivered over one billion page views of
local search results and content to mobile phone users
and serves nearly 2 million unique visitors per month.
“This merger will enhance and accelerate 80108’s ability
to capture a compelling market opportunity that results
from delivering content that is timely and contextual to
mobile handsets. Growing user adoption of mobile data
services and increasing penetration of mobile advertising
both indicate that the opportunity is developing more
rapidly than expected and that go2 Media is well
positioned to take advantage of it,” said Matt Rightmire,
Borealis partner and go2 Media board member.
go2 Media is backed by Borealis Ventures, General
Catalyst Partners, IDG Ventures Boston, and Khosla
Ventures.
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Learn more about go2 Media |
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| Momentum at Bar Harbor Biotechnology |
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Bar Harbor Biotechnology (BHB), which develops gene
expression products and services that advance life
science research and clinical medicine, has achieved
multiple milestones since Borealis helped launch the
Company a year ago as the first commercial spin-out
from The Jackson
Laboratory.
BHB successfully closed a Series A financing earlier this
year (which Borealis led) and has since built out its team
and launched its first set of products. BHB has also
secured additional funding from the Maine Technology
Institute to support the development of BHB's
forthcoming human genetic profiling products.
Leading the Company is President Robert Phelps, who
joined BHB this summer with over fifteen years of
experience in the life science industry and research
community. Most of that time involved sales and
marketing roles at Applied Biosystems (NYSE: ABI), the
industry leader in the life science market segment that
BHB is targeting. Phelps began his career as a DNA
researcher at Myriad Genetics (NASDAQ: MYGN) when it
was still an early startup and was part of the team that
discovered the BRCA genes for breast cancer that
contributed to the company's subsequent success.
On Oct. 1, BHB officially launched The
PerfectCircle, a suite of products comprised of
GeneSieve Bioinformatics, StellARray
Real-Time PCR arrays, and Global Pattern
Recognition Bioanalysis applications. Together, they
form an integrated platform of tools to assess gene
expression and copy number variation. According to
Phelps, "Our products are designed by scientists for
scientists to make their molecular profiling more
convenient, reliable and informative than ever before."
"Real-time PCR has grown into a billion dollar market,
despite cumbersome technology and difficulties in
interpreting the resulting data. We believe that BHB's
innovative products and customer-focused approach
address real unmet needs in that market, as
demonstrated by the customer response to BHB's
launch," said Borealis partner and BHB chair Phil
Ferneau.
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Visit the new BHB website |
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Paul Reddick Joins Handmark as CEO |
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Handmark recently announced that Paul Reddick
has been named chief executive officer of the
company. Paul, a former vice president of
Sprint Nextel, previously served as a member
of the Handmark board of directors.
Paul succeeds founding CEO August Grasis III,
who becomes chairman of the board. In his
active board role and as the company's
founder and chairman, Auggie will continue to
engage with partners and help guide the
company's pursuit of dynamic growth through
new business opportunities.
"The demand for mobile content and services
is poised for tremendous growth, and Handmark
is in a great position to make it happen.
This company's dogged focus on quality
services and ease of use will be a great
catalyst to drive not just adoption, but more
importantly use. I've had the great
privilege of growing with this industry as a
carrier executive, and I am ready to lead
this business through its next stage of
growth," said Paul.
Prior to joining the Handmark board, Paul
served as vice president of partner
development and product innovation at Sprint
Nextel, where he was responsible for
identifying and building out next-generation
services, including the company's mobile
content and location-based service offerings.
Paul has more than a decade of leadership
experience in mobile services, strategy and
operations.
"The most rewarding part of being an
entrepreneur is taking the business to the
next level and watching it take wings," said
Auggie. "This expansion of our management
team is timed perfectly to the maturing
mobile media marketplace. Paul brings deep
expertise in the mobile media industry and
proven ability to manage large operations.
Handmark is now poised to exploit market
opportunities, and Paul is the right person
to realize my vision and propel our business
forward on a global scale."
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Learn more about Handmark |
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| Join our 2008 Prouty Team |
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