MassChallenge

MassChallenge is a global nonprofit startup accelerator headquartered in Boston, Massachusetts, established in 2009. It supports early-stage entrepreneurs across various industries, including technology, healthcare, and social impact, by providing mentorship, resources, and networking opportunities. With locations in Israel, Mexico, Switzerland, Texas, and the UK, MassChallenge connects high-potential startups with industry experts and investors to foster innovation and facilitate growth. The accelerator operates on a non-equity model, allowing entrepreneurs to maintain full ownership of their companies while benefiting from strategic partnerships and tailored training programs. Through its diverse initiatives, such as targeted accelerator programs like MassChallenge HealthTech and FinTech, the organization aims to drive impactful change and enhance the global innovation ecosystem.

Cait Brumme

Acting CEO

Nick Dougherty

Managing Director, MassChallenge HealthTech

Siobhan Dullea

CEO

Matt Lashmar

Managing Director

Camila Lecaros

Managing Director

Yonit Serkin

Managing Director

Devon Sherman

Founding Director, Head of MassChallenge FinTech

Michelle Williams

Vice President and Head of Texas Strategy

Past deals in Compliance

Lineaje

Series A in 2024
Lineaje is a developer of a security management platform that addresses significant Software Supply Chain security challenges encountered by organizations involved in building, using, or selling software. The platform provides an accurate Software Bill of Materials (SBOM) that includes comprehensive transitive dependency rates. It features automatic attestation of integrity, proactive detection of threats and compromises, and ensures compliance for both public and private publishing. By offering these capabilities, Lineaje enables organizations to enhance their supply chain security effectively.

Capitis Solutions

Non Equity Assistance in 2024
Capitis Solutions is an information technology consulting firm based in Maryland, specializing in providing IT solutions that emphasize application security compliance, cloud-native architecture, and IoT/predictive analytics. The company is recognized as a small disadvantaged business and focuses on delivering cost-effective and reliable services with fast turnaround times. Capitis offers automated compliance scans and continuous monitoring of system configurations, assisting clients in modernizing legacy systems. They have established partnerships with major cloud providers such as AWS and Red Hat, enabling them to implement advanced solutions like microservices for both greenfield and brownfield applications.

Solumar

Non Equity Assistance in 2024
Solumar specializes in advanced air and gas filtration technologies aimed at reducing emissions from heavy industries, including city councils, maritime operations, and oil and gas companies. The company’s innovative approach incorporates seawater and principles from aviation to effectively capture black carbon and greenhouse gas emissions. By focusing on efficiency and sustainability, Solumar assists its clients in complying with the Agenda 2050 goals for emission reduction while offering cost-effective solutions for managing air pollution.

USEncryption

Non Equity Assistance in 2023
USEncryption specializes in unlocking value from confidential data while prioritizing privacy and security. The company addresses the common challenges associated with protecting sensitive information, which is often isolated in silos, thus hindering access to potentially transformative insights. By utilizing its patented Privacy-Enhancing Technology, USEncryption enables the sharing of encrypted data, allowing untrusted parties to derive insights without accessing the original content. This innovative approach supports applications such as training machine learning models on encrypted datasets, facilitating the development of advanced AI models without jeopardizing the confidentiality of the data. Ultimately, USEncryption's solutions promote regulatory compliance and enhance the ability to extract meaningful insights from protected information.

OutcomesX

Non Equity Assistance in 2023
OutcomesX is a technology company that operates a social impact marketplace. It connects businesses seeking to make a positive impact with local, effective organizations that can deliver tangible social outcomes. The platform standardizes, prices, and verifies units of social impact, enabling corporations to invest in measurable, equitable, and transparent social initiatives. This empowers impact-producing organizations to focus on driving change, rather than fundraising, while corporations can meet their social responsibility goals with confidence.

Blockpliance

Pre Seed Round in 2022
Blockpliance is a technology company that specializes in blockchain analytics. It provides a platform designed to assist compliance teams in financial institutions to safely engage with crypto-derived assets. The platform assigns risk scores to crypto wallets based on their behavior, using a proprietary algorithm that analyzes transactions for potential criminal activities such as money laundering, human trafficking, terrorist financing, ransomware, and scams. This enables banks to make informed decisions and meet regulatory requirements while interacting with the crypto ecosystem.

Datia

Non Equity Assistance in 2021
Datia is a data platform focused on sustainable finance, collaborating with innovative financial institutions to streamline their Environmental, Social, and Governance (ESG) workflows. The platform facilitates ESG data collection and analysis, portfolio screening, and modeling of ESG preferences. It also automates reporting in accordance with sustainable finance regulations, such as the SFDR and EU Taxonomy. Additionally, Datia's application highlights the impact of investments on climate and societal factors, such as carbon emissions and gender equality. By providing insights into the sustainability of various investment options, Datia empowers users to make informed decisions that align with their values while seeking financial returns.

Benekiva

Non Equity Assistance in 2021
Benekiva is a technology company focused on the life insurance industry, offering a cloud-based platform that enhances beneficiary management and streamlines the claims process. Its blockchain-backed solution enables insurance companies to automate documentation and payment processing, ensuring a secure and efficient experience for beneficiaries. The platform allows for the proactive updating of policyholder information and effective management of beneficiary data, while also facilitating compliance with unclaimed property and escheatment laws. Additionally, Benekiva's system supports a fully digital claims process and provides valuable data analytics that can transform claims operations into a revenue-generating engine. By prioritizing the needs of beneficiaries, Benekiva aims to become the preferred platform for insurance companies seeking to improve customer experience and operational efficiency.

Compliance.ai

Non Equity Assistance in 2020
Compliance.ai is a cloud-based platform designed to assist highly regulated organizations in managing compliance risks effectively. The company leverages artificial intelligence to automate complex compliance processes and workflows, enabling compliance teams to monitor and track a vast array of daily regulatory updates in near-real-time. By providing curated regulatory content and actionable insights, Compliance.ai helps organizations stay informed about regulatory changes, thereby reducing the risk of non-compliance, minimizing the costs associated with regulatory research, and fostering collaboration among stakeholders. The platform aims to modernize the compliance landscape for both regulators and regulated entities, enhancing transparency and trust in the compliance process.

Gig Wage

Non Equity Assistance in 2020
Gig Wage is a fintech payroll company founded in 2014 and headquartered in Dallas, Texas. It focuses on providing a financial social safety net for gig workers and independent contractors by offering a scalable platform that facilitates contractor payroll, payments, and compliance. The platform enables businesses to efficiently manage the payment process for any number of contractors while ensuring transparency for gig workers. Additionally, Gig Wage allows independent contractors to track their work, initiate invoices, and receive payments seamlessly. The company has partnered with Green Dot to offer customized banking solutions, including a fee-free debit card, free online bill pay, and access to cash withdrawals at thousands of ATM locations. By addressing the complexities of payments, banking, and tax compliance, Gig Wage aims to simplify financial management for both gig workers and their employers.

Access Informer

Non Equity Assistance in 2020
Access Informer is a software technology company that specializes in collecting, analyzing, and monitoring user authorizations across various key systems. Its reporting platform provides users with enhanced visibility and control over authorizations across multiple applications, including SAP, Active Directory, SharePoint, and Network Share. This functionality allows clients to expedite periodic reviews and improve compliance with minimal effort, streamlining the management of user access and enhancing organizational security.

BCube Analytics

Non Equity Assistance in 2020
BCube Analytics operates a cloud-based regulatory compliance platform designed to streamline audits and compliance processes for sectors such as banking, finance, healthcare, and insurance. The platform utilizes artificial intelligence to facilitate secure and efficient management of real-time audit and regulatory services, allowing for seamless collaboration among multiple organizations. By employing secure SaaS portals, BCube Analytics eliminates manual processes, enabling accounting and consulting firms to deliver compliance, audit, and regulatory change management services digitally. The company's goal is to help clients navigate and reduce compliance challenges while meeting increasingly stringent regulatory standards.

Chronically Capable

Non Equity Assistance in 2020
Chronically Capable is a recruitment platform dedicated to addressing the high unemployment rates faced by disabled and chronically ill individuals in the United States. With disability unemployment significantly higher than that of non-disabled individuals, the platform serves the 50% of Americans living with chronic and invisible illnesses by facilitating connections between job-seekers and employers who offer flexible work opportunities. Users can voluntarily disclose their medical conditions, work history, and job preferences, allowing for tailored job matches. Chronically Capable also supports employers in meeting compliance requirements under the Rehabilitation Act, promoting workforce diversification. The company aspires to become a leading authority on chronic illness in the workplace, collaborating with businesses, governments, and other entities to enhance employment access, standardize reasonable accommodations, and reduce unemployment rates for these individuals.

SecurelyShare

Non Equity Assistance in 2020
SecurelyShare operates a security platform focused on facilitating safe data sharing while adhering to privacy regulations. The platform addresses the dual challenges of data democratization and privacy by embedding security measures, access controls, and usage policies directly at the data level. This approach allows organizations to manage both structured and unstructured data in compliance with various local regulatory requirements. By integrating its patented DSG Vault technology into enterprise applications and IoT platforms, SecurelyShare ensures that personal identifiable information (PII) and sensitive data are protected according to specific privacy laws and the consent of data owners. This method promotes "Privacy by design" and accountability, allowing organizations to demonstrate compliance, securely share data internally and externally, and support digital transformation initiatives. Ultimately, SecurelyShare provides a streamlined solution that enhances data governance and enables effective data utilization without compromising security.

Mocingbird

Non Equity Assistance in 2020
Mocingbird operates a cloud-based platform designed to streamline the management of continuing medical education (CME) and certification requirements for medical professionals. The platform allows clinicians to upload their CME certificates and automatically tracks them against their licenses and credentials, ensuring compliance with state regulations. Through individualized credential dashboards, both clinicians and administrators can easily monitor license requirements and deadlines. The system simplifies the process of finding state-mandated courses, eliminating uncertainty regarding CME obligations. By automating these administrative tasks, Mocingbird enables healthcare professionals to focus on their primary responsibilities, while providing clarity and organization in managing their educational and licensing needs.

Otrafy

Non Equity Assistance in 2020
Otrafy is a Quality Management Software company that focuses on optimizing vendor relationships for quality assurance departments, particularly in the food production sector. The platform aims to streamline compliance and regulatory processes by minimizing and automating low-value tasks, thus allowing facilities to meet necessary standards more efficiently. Additionally, Otrafy leverages blockchain technology to enhance compliance and mitigate operational risks within the supply chain. This approach addresses critical challenges such as certification, compliance management, production efficiency, food safety, disease prevention, and product authenticity, enabling farmers to effectively communicate the history of their products from the farm to retail outlets.

Alkymi

Non Equity Assistance in 2020
Alkymi, Inc. is a New York-based company that specializes in developing a data inbox designed to manage unstructured data for enterprises. Founded in 2017, Alkymi provides an end-to-end solution that ingests and normalizes various forms of unstructured data, including documents, emails, PDFs, images, and XML. By leveraging advanced machine learning and automation, the platform empowers users in sectors such as financial services, compliance, human resources, and customer relationship management to convert raw data into actionable insights. This capability enhances decision-making processes, allowing organizations to respond swiftly to market changes and improve operational efficiency. Notable clients include leading firms in the private markets sector, which utilize Alkymi's technology to better scale investments and enhance client service.

Stratyfy

Non Equity Assistance in 2019
Stratyfy, Inc. is a New York-based company that specializes in AI-driven predictive-modeling software tailored for financial institutions. Founded in 2017, Stratyfy's platform enables users to develop predictive models and optimize decision-making processes while ensuring transparency and compliance within highly regulated environments. The software provides solutions for credit risk assessment and insurance fraud detection, empowering business leaders, data scientists, and compliance professionals to make informed, ethical decisions. Stratyfy's proprietary technology, branded as Smartificial Intelligence™, enhances traditional human expertise with explainable AI, facilitating a clear understanding of predictions and decisions. This approach addresses the challenges of machine learning in the financial sector, ensuring that models are both accurate and comprehensible. With research and development operations in Israel and Germany, Stratyfy aims to reduce operational and financial risks for its clients.

Benekiva

Non Equity Assistance in 2019
Benekiva is a technology company focused on the life insurance industry, offering a cloud-based platform that enhances beneficiary management and streamlines the claims process. Its blockchain-backed solution enables insurance companies to automate documentation and payment processing, ensuring a secure and efficient experience for beneficiaries. The platform allows for the proactive updating of policyholder information and effective management of beneficiary data, while also facilitating compliance with unclaimed property and escheatment laws. Additionally, Benekiva's system supports a fully digital claims process and provides valuable data analytics that can transform claims operations into a revenue-generating engine. By prioritizing the needs of beneficiaries, Benekiva aims to become the preferred platform for insurance companies seeking to improve customer experience and operational efficiency.

Fincura

Non Equity Assistance in 2018
Fincura, Inc. is a Boston-based company that develops an AI-enabled cloud software platform aimed at transforming financial data management for finance companies. Founded in 2017, Fincura focuses on unlocking valuable insights from unstructured financial statements and spreadsheets, allowing institutions to differentiate themselves and enhance operational efficiency. The platform combines artificial intelligence with human expertise to extract detailed data from various documents, ensuring that teams have access to a unified and transparent dataset. Fincura's secure, cloud-based architecture facilitates easy integration with other systems and supports rapid onboarding for new customers. Through features such as automated financial analysis, individualized covenant monitoring, and compliance tracking, Fincura empowers financial institutions to make informed decisions throughout their lending processes.

BlueTrace

Non Equity Assistance in 2018
BlueTrace provides a traceability solution tailored for the seafood industry, specifically focusing on shellfish growers, wholesalers, distributors, and dealers. The company's technology enables organizations of all sizes to enhance their operational efficiency, comply with industry regulations, and manage inventory effectively. By offering a unique tagging and compliance system, BlueTrace helps shellfish farmers meet increasing customer demands while also reducing animal mortality rates and minimizing labor costs. This comprehensive approach supports the optimization of various activities within the seafood supply chain, ensuring that stakeholders can navigate the complexities of the industry with greater ease.

Stithi

Non Equity Assistance in 2018
Stithi Innovation is a healthcare technology company that focuses on enhancing medication adherence for patients on long-term medication regimens. The company has developed a medical device that dispenses pills and monitors daily dosages over extended periods. This device features built-in cellular connectivity, allowing for real-time monitoring and support services. By facilitating remote tracking of medication adherence, Stithi enables both doctors and patients to ensure compliance with prescribed treatments, ultimately improving health outcomes for individuals managing chronic conditions.

NeedsList

Grant in 2017
NeedsList is a global marketplace that connects individual and corporate donors with non-governmental organizations (NGOs) to enhance the efficiency and transparency of humanitarian aid. By partnering with local aid organizations, NeedsList identifies urgent needs and collaborates with local suppliers for swift and sustainable delivery of resources. The platform enables supporters to donate cash, purchase products, or volunteer, while providing real-time impact metrics that allow partner organizations to monitor activities and outcomes effectively. NeedsList generates revenue through commissions from affiliate suppliers and enterprise users of its platform, facilitating sustainable humanitarian action for communities affected by climate change, conflict, and poverty.

Aparito

Grant in 2016
Aparito Limited is a health technology company based in Wrexham, United Kingdom, that focuses on digitizing clinical trials and enhancing drug development. Founded in 2014, the company develops mobile applications and wearable devices designed for patient monitoring outside of hospital settings. Its Atom5™ eCOA platform is compliant with regulatory standards and supports patient-centric clinical trials by enabling the collection of real-time, patient-generated data through various methods such as video assessments, electronic patient-reported outcomes, and telemedicine. This approach facilitates continuous monitoring and provides valuable insights into patient health and disease progression, ultimately aiming to improve clinical trial outcomes and patient care. By allowing patients and their caregivers to participate in research from home, Aparito enhances accessibility and engagement in the clinical trial process across numerous countries and languages.

Coconut

Grant in 2016
Coconut is a tax and accounting software designed for sole traders, landlords, and their accountants, facilitating financial management in light of upcoming regulatory changes in the UK. With the introduction of "Making Tax Digital for Income Tax," over four million UK taxpayers will need to submit five tax returns annually starting in 2024. Coconut streamlines this process by automatically categorizing business transactions that are tax-deductible, providing real-time tax calculations, and offering guidance on tax regulations. The platform also features tools for invoicing and expense tracking, enabling self-employed individuals to effectively manage their finances and enhance their liquidity positions.

Protagoras

Grant in 2016
Protagoras is a digital solution for financial advisors. It offers unique risk profiling and country-specific tax functionality, addressing each investor’s specific situation and preferences. Their interactive, data-driven, algorithmic approach radically improves the understanding of client investment preferences and automates compliance with upcoming regulations. Protagoras solves massive risk, tax, and compliance issues for financial advisors by providing the most precise investor profiling platform.

CoVi Analytics

Grant in 2016
CoVi Analytics develops productivity solutions that integrate operational information with big data, aimed at simplifying business activities and automating operations. The company operates a regulatory compliance platform designed for compliance teams, consultants, and regulators to effectively navigate and manage regulatory text. This platform enables insurers to interpret regulatory requirements, document and evidence compliance activities, and generate necessary reports for oversight authorities. By providing analytical insights into regulatory responses, CoVi Analytics helps users reduce compliance costs and enhance the speed of business decision-making.

Cognigo

Seed Round in 2016
Cognigo Inc. specializes in cybersecurity and enterprise data security services, focusing on data monitoring and insights to identify vulnerabilities in compliance with GDPR and internal security policies. Founded in 2016 and headquartered in Jersey City, New Jersey, Cognigo offers its flagship product, DataSense, which utilizes advanced artificial intelligence and machine learning to classify sensitive documents across various platforms, including network devices and cloud environments. DataSense provides real-time enforcement of security policies, visualizations of sensitive data assets, and auditing capabilities for compliance and cyber forensics. The company's solutions also encompass GDPR compliance, classification and discovery, cloud data protection, and permissions auditing. Cognigo operates a research and development center in Tel Aviv, Israel, and functions as a subsidiary of NetApp, Inc.

Cognigo

Non Equity Assistance in 2016
Cognigo Inc. specializes in cybersecurity and enterprise data security services, focusing on data monitoring and insights to identify vulnerabilities in compliance with GDPR and internal security policies. Founded in 2016 and headquartered in Jersey City, New Jersey, Cognigo offers its flagship product, DataSense, which utilizes advanced artificial intelligence and machine learning to classify sensitive documents across various platforms, including network devices and cloud environments. DataSense provides real-time enforcement of security policies, visualizations of sensitive data assets, and auditing capabilities for compliance and cyber forensics. The company's solutions also encompass GDPR compliance, classification and discovery, cloud data protection, and permissions auditing. Cognigo operates a research and development center in Tel Aviv, Israel, and functions as a subsidiary of NetApp, Inc.

Smart Validation Service

Grant in 2015
Dry foods, such as nuts and cereals, have been associated with recalls costing up to $ 30 Mio per incident, caused by bacteria contamination. Processors are now required to prove they reduce harmful bacteria during their process which involves tedious procedures. They offer a process monitoring service which reduces the risk of recalls, ensures regulatory compliance, gives real-time overview of bacteria reduction and unlock the saving potential of minimum $ 100 K/line/year.

CareAcademy

Grant in 2013
CareAcademy is an online training provider dedicated to empowering senior care professionals through specialized education. Its platform offers a range of courses covering essential topics such as infection control, nutrition, meal preparation, dementia care, fall prevention, and safe transfers. With over 250,000 direct care workers utilizing its services, CareAcademy aims to enhance the skills and knowledge of caregivers, ultimately improving the quality of care for older adults. The company also features an advanced reporting, training, and compliance management dashboard, providing a comprehensive and scalable training solution that helps transform home care businesses into industry leaders.
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