Borealis Fund VI

Borealis Ventures is a venture capital firm founded in 2002, based in Hanover, New Hampshire, with an additional office in Portsmouth. The firm specializes in seed and early to mid-stage investments, primarily focusing on life sciences, healthcare, digital health, information technology, and design and engineering software. Borealis Ventures invests nationally, with a particular emphasis on North Boston and Northern New England, including the Dartmouth College Network. The firm typically invests between $0.1 million and $2.5 million in companies with sales values up to $10 million and enterprise values up to $20 million. Borealis Ventures often seeks to be the lead investor, taking board seats in portfolio companies, and reserves additional capital for future financing rounds. It has a strong commitment to collaborating with exceptional entrepreneurs to develop innovative companies in its targeted sectors.

Philip Ferneau

Managing Partner

Christian Randles

Venture Partner

Ben Shaw

Partner

Emily Snyder

Principal

Julia Stephanus

Partner

Tom Wyman

Operating Partner

59 past transactions

SpaceClaim

Series D in 2010
SpaceClaim Corporation develops and markets 3D direct modeling software solutions that help engineers, CAE analysts, product designers, and manufacturers in the product development process. It offers SpaceClaim Engineer that enables engineers to create concepts and prepare 3D designs for prototyping, analysis, and manufacturing; SpaceClaim Style, an industrial design tool that is used to create, edit, and validate design concepts; SpaceClaim Viewer, which enables its users to open and measure SpaceClaim designs, drawings, and 3D markups; and add-on modules and plug-ins for SpaceClaim software. The company also provides educational licenses for its software solutions to professors, instructors, and educational institutions in North America, as well as training programs for its software. Its products are used for conceptual engineering, CAE/model preparation, industrial design, and manufacturing engineering applications. The company offers its products through a network of resellers in the United States and internationally. SpaceClaim Corporation was founded in 2005 and is headquartered in Concord, Massachusetts with additional offices in France and Japan.

Avitide

Series C in 2015
Avitide, Inc. discovers, manufactures, and supplies molecule-specific affinity purification solutions for the biopharmaceutical industry. It offers affinity separation technology that enables customers to achieve bioprocess development timelines, reduce program risk, predict commercial scalability, and reduce manufacturing costs. The company also develops affinity purification solutions for the manufacturing of life-saving therapeutics, including enzymes, novel scaffolds, multi-specific antibodies, gene therapies, and vaccines. Avitide, Inc. was incorporated in 2012 and is based in Lebanon, New Hampshire.

enVista

Venture Round in 2009
enVista is the leading enterprise cost management services provider, offering expert consulting and technology services from source to consumption. enVista enables leading companies to reduce operating costs, improve customer service and enhance profitability through innovative solutions and deep domain expertise across a multitude of industries and vertical markets.

Adored

Seed Round in 2015
Adored, Inc. provides a mobile app that enables restaurants, bars, coffee shops, ski resorts, and attractions to build relationships with their loyal customers, influence casual customers to visit more often, and draw new people in when they're in the area. It also provides automatic loyalty rewards. The company offers its app for Apple iOS and Android phones. The company is based in Manchester, New Hampshire.

Measurabl

Series A in 2018
Measurabl, Inc. develops a cloud-based software that collects data, creates investment-grade sustainability reports, and alerts clients to improvement opportunities. The company offers Measurabl, a software solution for helping companies to collect, report, and act upon non-financial data. Its solution enables clients to collect utility, waste, and travel data; create, export, and e-File investment-grade reports on demand; and benchmark performance and spot opportunities to improve. The company was founded in 2013 and is based in San Diego, California.

Sketchfab

Seed Round in 2013
Sketchfab is empowering a new era of creativity by making it easy for anyone to publish and find 3D content online. With a community of millions of creators who have published millions of models, it serves as a platform for immersive and interactive 3D. Additionally, its store lets buyers and sellers transact 3D models with confidence using our real-time viewer and model inspector.
Compass Therapeutics is a clinical-stage biotechnology company targeting the human immune synapse with a new generation of antibody therapeutics. Compass has broadly drugged the immune system by generating epitopically diverse antibody panels to more than 40 targets across all immune cell types and is leveraging its proprietary StitchMabs and common light-chain based multispecific platforms to empirically identify combinations and multispecific with optimized activity. The company’s lead product candidate, CTX-471, is a fully human agonistic antibody of CD137, which is in a Phase 1 study in patients with inadequate responses to PD-1/PD-L1 checkpoint inhibitors. Compass is also progressing several preclinical assets including a novel class of NK cell engagers targeting NKp30 and multiple bispecific checkpoint programs. The company’s offices and labs are based in Kendall Square in Cambridge, Mass.

Evox Therapeutics

Private Placement in 2018
Evox Therapeutics Limited develops a modular platform for clinical translation of exosome-based therapeutics. The company develops extracellular vesicles-based nucleic acid and protein delivery technology. Its technology aims to hitch a ride on tiny particles called exosomes, which the body uses to transport molecules between cells. Evox Therapeutics Limited was founded in 2016 and is based in Oxford, United Kingdom.
Compass Therapeutics is a clinical-stage biotechnology company targeting the human immune synapse with a new generation of antibody therapeutics. Compass has broadly drugged the immune system by generating epitopically diverse antibody panels to more than 40 targets across all immune cell types and is leveraging its proprietary StitchMabs and common light-chain based multispecific platforms to empirically identify combinations and multispecific with optimized activity. The company’s lead product candidate, CTX-471, is a fully human agonistic antibody of CD137, which is in a Phase 1 study in patients with inadequate responses to PD-1/PD-L1 checkpoint inhibitors. Compass is also progressing several preclinical assets including a novel class of NK cell engagers targeting NKp30 and multiple bispecific checkpoint programs. The company’s offices and labs are based in Kendall Square in Cambridge, Mass.

Orbit Discovery

Private Placement in 2018
Peptides offer the potential to make drugs with the specificity and efficacy of large biologic molecules combined with the smaller dose size, simpler routes of delivery and lower cost of manufacturing found with small molecules. They are, therefore, uniquely suited to the treatment of chronic diseases which impact large patient populations. Their technology supports all of the improvements that can be made to peptides which make them better drugs whilst simplifying the discovery process and accelerating drug development

Adimab

Series C in 2008
Adimab's integrated antibody discovery and optimization platform provides unprecedented speed from antigen to purified, full-length human IgGs. Adimab offers fundamental advantages by delivering diverse panels of therapeutically relevant antibodies that meet the most aggressive standards for affinity, epitope coverage, species cross-reactivity and expressability. Adimab enables its partners to rapidly expand their biologics pipelines through a broad spectrum of technology access arrangements.

Teckro

Series C in 2019
Teckro, Inc. offers a solution that transforms clinical trials making all relevant information instantly accessible to every active member of the study. The company facilitates connections between investigators and the expertise they need; and helps study teams, sites, and patients to connect. Its solution instantly captures and shares team’s knowledge to dramatically reduce the burden on CRAs, medical monitors, data management, and study personnel. The company serves pharmaceutical companies and clinical researchers across the world. Teckro, Inc. was incorporated in 2015 and is based in Limerick, Ireland.

Avedro

Series D in 2013
Medical device and pharmaceutical company advancing the science and technology of corneal cross-linking

Smartvid io

Series A in 2017
Smartvid.io enables the AEC industry to significantly reduce jobsite risk by combining the best of human and artificial intelligence. Smartvid.io's Safety Suite includes Safety Observations, Safety Monitoring and Predictive Analytics products that combine to give project teams and management the ability to predict and prevent incidents - saving lives and preserving timely project delivery. Getting started is easy with pre-built integrations to Autodesk BIM360, Procore, Oracle Aconex, SharePoint, Egnyte, Box, and other data sources. See it in action at www.smartvid.io.

HELIX

Series A in 2014
HELIX, formerly Flux, was the first spin-out of Google X. Initially focused on generative building design to automate planning and design of sustainable buildings, HELIX pivoted in 2019 to attack the high cost and complexity of digitizing buildings. Based in Oakland, CA, HELIX built the HELIX Creator platform to enable architects, engineers, builders, and owner-operators to use LiDAR and photogrammetry to capture accurate building geometry and convert it into usable plans and models. HELIX users need accurate 2D and 3D information and access to documents and data related to the building without delays. HELIX is used to evaluate buildings' potential, plan for renovation, document buildings in detail for disaster planning and more. HELIX believes that for Digital Twins to achieve their potential the data must be accurate, intuitive to access and easy to keep up to date.

Compass Therapeutics, Inc.

Private Placement in 2020
Compass Therapeutics is a clinical-stage biotechnology company targeting the human immune synapse with a new generation of antibody therapeutics. Compass has broadly drugged the immune system by generating epitopically diverse antibody panels to more than 40 targets across all immune cell types and is leveraging its proprietary StitchMabs and common light-chain based multispecific platforms to empirically identify combinations and multispecific with optimized activity. The company’s lead product candidate, CTX-471, is a fully human agonistic antibody of CD137, which is in a Phase 1 study in patients with inadequate responses to PD-1/PD-L1 checkpoint inhibitors. Compass is also progressing several preclinical assets including a novel class of NK cell engagers targeting NKp30 and multiple bispecific checkpoint programs. The company’s offices and labs are based in Kendall Square in Cambridge, Mass.

GlycoFi Inc.

Series C in 2005
GlycoFi is a biotech firm that develops biotherapeutics based on the glycan optimization technology. The firm aims to develop its own pipeline of therapeutic proteins and team with other drug-makers to develop products. GlycoFi has developed a protein manufacturing process using yeast-based glycolysation where the resulting proteins can be used in drug development. GlycoFi was incorporated in 2000 and is based in Lebanon, New Hampshire. As of June 6, 2006, GlycoFi, Inc. operates as a subsidiary of Merck & Co. Inc.

FidoCure

Private Placement in 2020
The One Health Company is a social impact company that brings precision medicine, used in humans, to dogs with cancer. It started by offering dogs with cancer access to cutting edge human clinical trials at no cost. Then, they created FidoCure directly for veterinarians and pet parents to offer treatment options to more dogs across the country. The company built partnerships with the world's top cancer researchers and a network of 111 of the best veterinary hospitals.

Medical Metrx Solutions

Series B in 2003
Medical Metrx Solutions, Inc. (formerly Medical Media Systems) is a medical technology and services company providing diagnostic quality 3-D virtual models of patient anatomy built from CT and MR scan data using the company’s proprietary modeling software. The company’s models — which contain more precise quantitative measurement information than competitors’ offerings — are provided to interventional radiologists and vascular surgeons who use them for pre-operative planning and post-operative surveillance of their patients’ conditions. The company was acquired by AIG Altaris Health Partners in 2005.

SpaceClaim

Series B in 2007
SpaceClaim Corporation develops and markets 3D direct modeling software solutions that help engineers, CAE analysts, product designers, and manufacturers in the product development process. It offers SpaceClaim Engineer that enables engineers to create concepts and prepare 3D designs for prototyping, analysis, and manufacturing; SpaceClaim Style, an industrial design tool that is used to create, edit, and validate design concepts; SpaceClaim Viewer, which enables its users to open and measure SpaceClaim designs, drawings, and 3D markups; and add-on modules and plug-ins for SpaceClaim software. The company also provides educational licenses for its software solutions to professors, instructors, and educational institutions in North America, as well as training programs for its software. Its products are used for conceptual engineering, CAE/model preparation, industrial design, and manufacturing engineering applications. The company offers its products through a network of resellers in the United States and internationally. SpaceClaim Corporation was founded in 2005 and is headquartered in Concord, Massachusetts with additional offices in France and Japan.

Mosaic Storage Systems

Series A in 2013
Mosaic Storage Systems is a provider of digital asset storage services used to help professional photographers to store their photographs. Its digital asset storage services take digital copies of photographs, stores them on its servers, and make them accessible via the internet that enables users to store and share photographs securely. It was founded in 2011 and is based in Nashua, New Hampshire.

Avitide

Series E in 2017
Avitide, Inc. discovers, manufactures, and supplies molecule-specific affinity purification solutions for the biopharmaceutical industry. It offers affinity separation technology that enables customers to achieve bioprocess development timelines, reduce program risk, predict commercial scalability, and reduce manufacturing costs. The company also develops affinity purification solutions for the manufacturing of life-saving therapeutics, including enzymes, novel scaffolds, multi-specific antibodies, gene therapies, and vaccines. Avitide, Inc. was incorporated in 2012 and is based in Lebanon, New Hampshire.

Dandelion Energy

Seed Round in 2017
Dandelion Energy offers affordable geothermal heating and cooling installations. Dandelion Energy's home geothermal system replaces your home’s existing air conditioning and heating equipment with a powerful heat pump and safe, underground pipes that move heat between the earth and home. Kathleen Hannun and Rajeez Quazi founded it in 2017, with its headquarters in Palo Alto in California.

Evox Therapeutics

Series B in 2018
Evox Therapeutics Limited develops a modular platform for clinical translation of exosome-based therapeutics. The company develops extracellular vesicles-based nucleic acid and protein delivery technology. Its technology aims to hitch a ride on tiny particles called exosomes, which the body uses to transport molecules between cells. Evox Therapeutics Limited was founded in 2016 and is based in Oxford, United Kingdom.

enVista

Venture Round in 2008
enVista is the leading enterprise cost management services provider, offering expert consulting and technology services from source to consumption. enVista enables leading companies to reduce operating costs, improve customer service and enhance profitability through innovative solutions and deep domain expertise across a multitude of industries and vertical markets.

FidoCure

Series A in 2020
The One Health Company is a social impact company that brings precision medicine, used in humans, to dogs with cancer. It started by offering dogs with cancer access to cutting edge human clinical trials at no cost. Then, they created FidoCure directly for veterinarians and pet parents to offer treatment options to more dogs across the country. The company built partnerships with the world's top cancer researchers and a network of 111 of the best veterinary hospitals.

Wingu

Series A in 2011
Wingu is building a metrics-driven system for optimizing outsourced pharmaceutical research. They simplify information exchange for researchers; deliver robust project insight for managers and provide deep analytics for executives to enable better, faster decisions.

Adimab

Series D in 2010
Adimab's integrated antibody discovery and optimization platform provides unprecedented speed from antigen to purified, full-length human IgGs. Adimab offers fundamental advantages by delivering diverse panels of therapeutically relevant antibodies that meet the most aggressive standards for affinity, epitope coverage, species cross-reactivity and expressability. Adimab enables its partners to rapidly expand their biologics pipelines through a broad spectrum of technology access arrangements.

FetchDog

Series A in 2009
[FetchDog](http://www.fetchdog.com) is a website for dog owners.

enVista

Series B in 2010
enVista is the leading enterprise cost management services provider, offering expert consulting and technology services from source to consumption. enVista enables leading companies to reduce operating costs, improve customer service and enhance profitability through innovative solutions and deep domain expertise across a multitude of industries and vertical markets.

enVista

Series A in 2007
enVista is the leading enterprise cost management services provider, offering expert consulting and technology services from source to consumption. enVista enables leading companies to reduce operating costs, improve customer service and enhance profitability through innovative solutions and deep domain expertise across a multitude of industries and vertical markets.

Fieldlens

Series A in 2014
FieldLens, Inc. provides an online field management tool that allows users to connect and collaborate with everyone on the jobsite from smartphone, tablet, or the Web. It builds technology tools for the construction industry. The company was incorporated in 2011 and is based in New York, New York. As of December 21, 2020, FieldLens, Inc. operates as a subsidiary of RedTeam Software, LLC.

enVista

Debt Financing in 2010
enVista is the leading enterprise cost management services provider, offering expert consulting and technology services from source to consumption. enVista enables leading companies to reduce operating costs, improve customer service and enhance profitability through innovative solutions and deep domain expertise across a multitude of industries and vertical markets.

Makeover Solutions

Series A in 2007
Makeover Solutions, Inc., a marketing company, provides Web-based virtual makeovers. The company builds online communities for women users interested in beauty and beauty care conversations. Its Personal Makeover helps companies to create an online relationship with their customers. The company was incorporated in 2007 and is based in New York, New York.

Avitide

Series A in 2013
Avitide, Inc. discovers, manufactures, and supplies molecule-specific affinity purification solutions for the biopharmaceutical industry. It offers affinity separation technology that enables customers to achieve bioprocess development timelines, reduce program risk, predict commercial scalability, and reduce manufacturing costs. The company also develops affinity purification solutions for the manufacturing of life-saving therapeutics, including enzymes, novel scaffolds, multi-specific antibodies, gene therapies, and vaccines. Avitide, Inc. was incorporated in 2012 and is based in Lebanon, New Hampshire.

Airstone

Venture Round in 2013
Airstone is a developing a specialized IaaS offering for Big Data customers. The company has developed a proprietary networking fabric called Ultramarine that provides a significant price performance advantage over existing datacenter networking fabrics. Ultramarine offers the lowest latency and highest bandwidth per node on the market.

SpaceClaim

Series A in 2005
SpaceClaim Corporation develops and markets 3D direct modeling software solutions that help engineers, CAE analysts, product designers, and manufacturers in the product development process. It offers SpaceClaim Engineer that enables engineers to create concepts and prepare 3D designs for prototyping, analysis, and manufacturing; SpaceClaim Style, an industrial design tool that is used to create, edit, and validate design concepts; SpaceClaim Viewer, which enables its users to open and measure SpaceClaim designs, drawings, and 3D markups; and add-on modules and plug-ins for SpaceClaim software. The company also provides educational licenses for its software solutions to professors, instructors, and educational institutions in North America, as well as training programs for its software. Its products are used for conceptual engineering, CAE/model preparation, industrial design, and manufacturing engineering applications. The company offers its products through a network of resellers in the United States and internationally. SpaceClaim Corporation was founded in 2005 and is headquartered in Concord, Massachusetts with additional offices in France and Japan.

Vets First Choice

Venture Round in 2012
Vets First Choice provides veterinary practices with an online pharmacy and home delivery services. It partners with veterinarians to create insight into gaps in patient care and offer professionalized pro-active prescription management to drive client engagement and improve compliance. The company was founded by Ben Shaw in 2010 and is based in Portland, Maine.

Ovation

Private Placement in 2020
Ovation Life Sciences, LLC develops a scientific data layer platform for research organizations and service labs. The company offers Ovation Research that provides data curation, collaboration, and storage tools; and Ovation Service Lab that offers sample tracking, workflows, and client management solutions. It serves academic labs, biotech companies, R&D groups, research consortia, clinical diagnostic labs, and contract research organizations. The company was founded in 2009 and is based in Cambridge, Massachusetts.

PCD Partners

Venture Round in 2011
PCD Partners is a group of world class physicians, academics, and entrepreneurs who have decades of experience with collaboration in medical quality and practice improvement systems for large scale practice management and clinical practice improvement.

Handmark

Series A in 2005
Handmark develops applications for Android, Blackberry, Palm, and Window mobile platforms. Its solutions include games, personalization solutions, and ringtones. Its applications cover areas, such as multimedia, utilities and tools, sports, business and productivity, fitness and health, news and information, reference, and entertainment.

Teckro

Private Placement in 2018
Teckro, Inc. offers a solution that transforms clinical trials making all relevant information instantly accessible to every active member of the study. The company facilitates connections between investigators and the expertise they need; and helps study teams, sites, and patients to connect. Its solution instantly captures and shares team’s knowledge to dramatically reduce the burden on CRAs, medical monitors, data management, and study personnel. The company serves pharmaceutical companies and clinical researchers across the world. Teckro, Inc. was incorporated in 2015 and is based in Limerick, Ireland.

Dandelion Energy

Seed Round in 2018
Dandelion Energy offers affordable geothermal heating and cooling installations. Dandelion Energy's home geothermal system replaces your home’s existing air conditioning and heating equipment with a powerful heat pump and safe, underground pipes that move heat between the earth and home. Kathleen Hannun and Rajeez Quazi founded it in 2017, with its headquarters in Palo Alto in California.

Dandelion Energy

Private Placement in 2018
Dandelion Energy offers affordable geothermal heating and cooling installations. Dandelion Energy's home geothermal system replaces your home’s existing air conditioning and heating equipment with a powerful heat pump and safe, underground pipes that move heat between the earth and home. Kathleen Hannun and Rajeez Quazi founded it in 2017, with its headquarters in Palo Alto in California.

Ovation

Series B in 2020
Ovation Life Sciences, LLC develops a scientific data layer platform for research organizations and service labs. The company offers Ovation Research that provides data curation, collaboration, and storage tools; and Ovation Service Lab that offers sample tracking, workflows, and client management solutions. It serves academic labs, biotech companies, R&D groups, research consortia, clinical diagnostic labs, and contract research organizations. The company was founded in 2009 and is based in Cambridge, Massachusetts.

Compass Therapeutics, Inc.

Private Placement in 2015
Compass Therapeutics is a clinical-stage biotechnology company targeting the human immune synapse with a new generation of antibody therapeutics. Compass has broadly drugged the immune system by generating epitopically diverse antibody panels to more than 40 targets across all immune cell types and is leveraging its proprietary StitchMabs and common light-chain based multispecific platforms to empirically identify combinations and multispecific with optimized activity. The company’s lead product candidate, CTX-471, is a fully human agonistic antibody of CD137, which is in a Phase 1 study in patients with inadequate responses to PD-1/PD-L1 checkpoint inhibitors. Compass is also progressing several preclinical assets including a novel class of NK cell engagers targeting NKp30 and multiple bispecific checkpoint programs. The company’s offices and labs are based in Kendall Square in Cambridge, Mass.

Flurry

Series A in 2007
Flurry is an application that provides analytics for businesses to monitor the trends and habits of mobile users across multiple mobile applications. Flurry’s mobile analytics solution enables businesses to understand how consumers interact with their mobile applications. Over 125,000 companies use Flurry’s analytics platform in more than 400,000 applications to measure audience reach, engagement, retention, conversions, revenue, and more. The service is completely free, takes just five minutes for basic integration, and is continuously updated with the industry's advanced features. Flurry Analytics is available for iOS, Android, Windows Phone, HTML5, hybrid apps, mobile/web, Blackberry, and JavaME.

SpaceClaim

Series C in 2009
SpaceClaim Corporation develops and markets 3D direct modeling software solutions that help engineers, CAE analysts, product designers, and manufacturers in the product development process. It offers SpaceClaim Engineer that enables engineers to create concepts and prepare 3D designs for prototyping, analysis, and manufacturing; SpaceClaim Style, an industrial design tool that is used to create, edit, and validate design concepts; SpaceClaim Viewer, which enables its users to open and measure SpaceClaim designs, drawings, and 3D markups; and add-on modules and plug-ins for SpaceClaim software. The company also provides educational licenses for its software solutions to professors, instructors, and educational institutions in North America, as well as training programs for its software. Its products are used for conceptual engineering, CAE/model preparation, industrial design, and manufacturing engineering applications. The company offers its products through a network of resellers in the United States and internationally. SpaceClaim Corporation was founded in 2005 and is headquartered in Concord, Massachusetts with additional offices in France and Japan.

Ovation

Series A in 2019
Ovation Life Sciences, LLC develops a scientific data layer platform for research organizations and service labs. The company offers Ovation Research that provides data curation, collaboration, and storage tools; and Ovation Service Lab that offers sample tracking, workflows, and client management solutions. It serves academic labs, biotech companies, R&D groups, research consortia, clinical diagnostic labs, and contract research organizations. The company was founded in 2009 and is based in Cambridge, Massachusetts.

HELIX

Series B in 2015
HELIX, formerly Flux, was the first spin-out of Google X. Initially focused on generative building design to automate planning and design of sustainable buildings, HELIX pivoted in 2019 to attack the high cost and complexity of digitizing buildings. Based in Oakland, CA, HELIX built the HELIX Creator platform to enable architects, engineers, builders, and owner-operators to use LiDAR and photogrammetry to capture accurate building geometry and convert it into usable plans and models. HELIX users need accurate 2D and 3D information and access to documents and data related to the building without delays. HELIX is used to evaluate buildings' potential, plan for renovation, document buildings in detail for disaster planning and more. HELIX believes that for Digital Twins to achieve their potential the data must be accurate, intuitive to access and easy to keep up to date.