MassChallenge startups have raised $706M in funding, created 4,800 jobs



MassChallenge startups have raised $706M in funding, created 4,800 jobs

The 617 startups that have participated in five annual classes of Boston-based accelerator program MassChallengehave collectively raised $706 million in funding and created 4,800 jobs.

That’s according to a new report released by MassChallenge on Thursday with updated metrics.

Those startups have also generated $404 million in revenue collectively, according to MassChallenge.

More than 80 percent of the 617 startups that have gone through the accelerator program are still active, and 22 have been acquired, according to MassChallenge.

In May, before the 2014 startup finalists were chosen, MassChallenge said the 489 startups that participated in the annual program raised $554 million in funding collectively and created 4,051 jobs, while generating $358 million in revenue.

The 2014 startup class, which has 128 startup finalists, has raised $68 million collectively to date, more than twice as much as any other MassChallenge class, according to the report.

“Five years ago, we issued a challenge to the startup community — in Boston and around the world — to help us identify, strengthen and promote the world’s highest-impact startups,” said MassChallenge Founder and CEO John Harthorne in a statement. “Looking at the amazing 128 finalists this year, and the mind-blowing Top 26 startups, and faced with a sold-out 2014 Awards Ceremony featuring 5 truly amazing Keynotes, it is clear that the community has delivered.”

The annual startup awards ceremony hosted by MassChallenge will be held Oct. 29 at the Boston Convention and Exhibition Center. It will feature guest speakers Travis Kalanick, CEO of Uber Technologies Inc., and Eric Schmidt, executive chairman atGoogle.

MassChallenge offers its startups mentorship, workspace and the opportunity to win cash prizes, and it does not take equity stake in its startups.


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