Leadership transition positions the company for its next phase of growth as it extends autonomous, attack-validated security from an organization’s own attack surface to the vendors it depends on.
BOSTON, Oct. 16, 2026 — SpartanX, the autonomous offensive security company, announced the appointment of Erik Hardy as Chief Executive Officer and the launch of Vendor Management, a new capability that brings real, attack-validated security posture to third-party risk. Company founder Diego Spahn moves into the role of Co-Founder and Chief Technology and Product Officer and remains on the board.
Hardy, previously President and Chief Operating Officer, steps into the CEO role as part of a broader expansion of the leadership team. Co-Founder Alejandro Aguirre Soto becomes Senior Vice President of Engineering, and Co-Founder Martin Voelk becomes Chief Research Officer. The changes follow a period of rapid growth and are designed to put each leader where they can have the greatest impact as the company scales.
The announcement coincides with the launch of Vendor Management, among the most significant additions to the SpartanX platform to date. Third-party breaches remain one of the hardest risks for security teams to measure, and most programs still rely on self-reported questionnaires and point-in-time audits. Vendor Management takes a different approach: organizations invite their vendors onto SpartanX, each vendor runs on its own workspace and chooses which assets to share, and the customer sees that vendor’s validated risk posture, grounded in continuous, autonomous testing rather than a checklist. A strict privacy boundary ensures each organization sees a vendor’s posture and shared-asset scores while the vendor’s underlying findings and internal data stay entirely its own.
Olympus, the release that carries Vendor Management, also expands the platform’s core offensive capabilities. SpartanX added hundreds of new specialized AI agents covering a wider range of enterprise applications and technologies, alongside new retesting that lets teams confirm whether code and mobile findings have actually been fixed. Together, the additions deepen the platform’s ability to prove which exposures are genuinely exploitable, across more of an organization’s environment.
“SpartanX has built something the market has never seen: an autonomous platform that attacks the way a real adversary would, at a scale no human team can match,” said Erik Hardy, Chief Executive Officer of SpartanX. “Our customers are not just finding vulnerabilities, they are proving which ones actually matter. With Vendor Management, we extend that same proof to the one part of the attack surface every company worries about and almost no one can measure: their vendors. I am honored to lead this team into its next chapter.”
SpartanX is pioneering the category of Autonomous Exposure Management. The leadership transition and the launch of Vendor Management mark the start of the company’s next phase as it brings autonomous, attack-validated security to a growing roster of enterprise customers.
About SpartanX
SpartanX is an autonomous offensive security company. Its platform deploys fleets of specialized AI agents to continuously test an organization’s attack surface across web, API, network, cloud, identity, and AI systems, the way a real attacker would, and to prove which exposures are genuinely exploitable. SpartanX is pioneering the category of Autonomous Exposure Management and is backed by Venture Guides. Learn more at spartanx.ai.
NEW YORK, Oct. 16, 2026 — Functional medicine physician Dr. Ruth Johnson, an investor in RunPractice, has experienced a familiar problem in her Midtown Manhattan practice: separate tools and vendors handling different parts of the business, with her team left to connect them.
RunPractice brings digital infrastructure, AI agents, and growth operations together in one managed system. Websites, booking, patient communication, payments, and marketing work together, with one partner responsible for implementation and ongoing management.
Dr Johnson & her team
Dr Johnson
The approach connects the patient relationship from the first inquiry through booking and follow-up. AI agents support routine administrative tasks while practice teams stay in control of interactions that need human attention.
Dr. Johnson uses RunPractice in her own clinical practice. That experience helps guide product development around the operational challenges physicians and their teams face every day.
The goal is straightforward: less time coordinating the business, more time with patients.
RunPractice is a health technology company that connects and manages the business behind independent medical practices. Its model brings digital infrastructure, AI agents, and growth operations together to support patient acquisition, practice operations, and ongoing patient relationships.
New actively managed ETF seeks to provide exposure to companies developing humanoid robots and the technologies powering their advancement.
LAS VEGAS, Oct. 16, 2026 — Rareview Capital LLC and Tuttle Capital Management today announced the launch of the Tuttle – Rareview Humanoid Robotics ETF (Symbol: HOID), an actively managed exchange-traded fund seeking capital appreciation through investments in companies developing humanoid robots and the technologies that make them possible.
HOID provides a targeted approach to the humanoid robotics ecosystem, extending beyond robot manufacturers to include the technologies and components supporting their development. The strategy considers both the “Brains“, artificial intelligence, software, and semiconductors, and the “Body“, sensors, actuators, batteries, and other essential components.
“Artificial intelligence has shown how quickly a new technology can evolve and reshape entire industries. We believe humanoid robotics is entering a similar period of development, with meaningful advances likely to unfold over the next decade,” said Neil Azous, Founder and Chief Investment Officer of Rareview Capital. “We’re excited to bring investors an opportunity to participate in that evolution through a strategy that looks beyond the robots themselves to the companies developing the technologies that make them possible.”
The fund may invest in U.S. and international companies, including those in commercial production and those developing fully functional prototypes progressing toward commercialization. Portfolio weights are rebalanced at least quarterly.
Matthew Tuttle, Chief Executive Officer of Tuttle Capital Management, sub-adviser and co-portfolio manager of HOID, said, “A humanoid robot has a brain and a body. The brain is chips, software and AI models. The body is actuators, sensors and batteries. HOID invests across both. Neil Azous and the Rareview Capital team and I built this fund to follow the whole supply chain, from the companies building the robots to the ones making the parts inside them.”
Rareview Capital LLC is a registered investment adviser and ETF sponsor specializing in goals-based investment strategies. The firm’s solutions are available through ETFs, sub-advisory and dual-contract arrangements, model portfolios, or direct client accounts. Rareview Capitalis headquartered in Las Vegas, Nevada. For more information, please visit www.rareviewcapital.com or contact the firm at 212-475-8664.
About Tuttle Capital Management
Tuttle Capital Management is a leading issuer of thematic ETFs that allow investors to capitalize on shifting market dynamics. The firm is known for its active management approach and its ability to construct portfolios around emerging trends, spanning actively managed thematic equity ETFs, the Income Blast series of weekly-distribution ETFs, and rules-based index ETFs developed in collaboration with third-party index providers. For more about Tuttle Capital’s full suite of funds, visit www.tuttlecap.com.
Carefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund’s full and summary prospectus, which may be obtained by visiting rareviewcapital.com. Read the prospectus carefully before investing.
Investing involves risk, including possible loss of principal. There can be no assurance that a Fund will achieve its stated objectives. An investment in the Fund may be subject to risks which include, among others, market, interest rate, tax, liquidity, leverage, investment restrictions, operational, authorized participant concentration, no guarantee of active trading market, trading issues, active management, fund shares trading, premium/discount and liquidity of fund shares and concentration risks, all of which may adversely affect the Fund. Diversification does not ensure profits or prevent losses. Exchange-Traded Funds (ETFs) trade like stocks, are subject to investment risk, and will fluctuate in market value. Unlike mutual funds, ETF shares are not individually redeemable directly with the Fund and are bought and sold on the secondary market at market price, which may be higher or lower than the ETF’s net asset value (NAV). Transactions in shares of ETFs will result in brokerage commissions, which will reduce returns.
Affiliated Fund Risk. The Fund invests in affiliated underlying funds (the “Affiliated Funds”), unaffiliated underlying funds, or a combination of both. The Adviser, therefore, is subject to conflicts of interest in allocating the Fund’s assets among the Affiliated Funds. Humanoid Robotics Companies Risk. The Fund invests in Humanoid Robotics Companies, which may have limited product lines, markets, financial resources, or personnel and are subject to the risks of changes in business cycles, world economic growth, technological progress, and government regulation. Securities of Humanoid Robotics Companies tend to be more volatile than securities of companies that rely less heavily on technology. Humanoid Robotics Companies typically engage in significant amounts of spending on research and development, and rapid changes to the field could have a material adverse effect on a company’s operating results. China Risk. The Fund may invest in instruments that provide exposure to Chinese companies, including through investments in China A-Shares, which would subject the Fund to risks specific to China. China may be subject to considerable degrees of economic, political and social instability. China is an emerging market and demonstrates significantly higher volatility from time to time in comparison to developed markets. Concentration Risk. The Fund is concentrated in the industry or group of industries comprising the industrials, information technology and consumer discretionary sectors, collectively. ADR Risk. ADRs may be subject to some of the same risks as direct investment in foreign companies, which includes international trade, currency, political, regulatory and diplomatic risks. In a sponsored ADR arrangement, the foreign issuer assumes the obligation to pay some or all of the depositary’s transaction fees. Under an unsponsored ADR arrangement, the foreign issuer assumes no obligations and the depositary’s transaction fees are paid directly by the ADR holders. Because unsponsored ADR arrangements are organized independently and without the cooperation of the issuer of the underlying securities, available information concerning the foreign issuer may not be as current as for sponsored ADRs and voting rights with respect to the deposited securities are not passed through. Non-Diversified Risk. As a “non-diversified” fund, the Fund may hold a smaller number of portfolio securities than many other funds. To the extent the Fund invests in a relatively small number of issuers, a decline in the market value of a particular security held by the Fund may affect its value more than if it invested in a larger number of issuers. The value of the Fund Shares may be more volatile than the values of shares of more diversified funds. Non-U.S. Securities Risk. Non-U.S. securities are subject to higher volatility than securities of domestic issuers due to possible adverse political, social or economic developments, restrictions on foreign investment or exchange of securities, capital controls, lack of liquidity, currency exchange rates, excessive taxation, government seizure of assets, the imposition of sanctions by foreign governments, different legal or accounting standards, and less government supervision and regulation of securities exchanges in foreign countries. Variable Interest Risk. Exposure to VIEs may pose additional risks because the investment is made in reference to an intermediary shell company that has entered into service and other contracts with the underlying Chinese operating company to provide investors with exposure to the operating company, but does not represent equity ownership in the operating company. As a result, such investment may limit the rights of an investor with respect to the underlying Chinese operating company. VIEs allow foreign shareholders to exert a degree of control over, and obtain economic benefits arising from, the operating company without formal legal ownership.
NOT FDIC INSURED * NO BANK GUARANTEE * MAY LOSE VALUE
NEW YORK, 15 oktober 2026 — OrbiMed, een toonaangevende wereldwijde investeringsmaatschappij in de gezondheidszorg, maakt met genoegen bekend dat het voor twee nieuwe private-equityfondsen kapitaaltoezeggingen heeft ontvangen ter waarde van in totaal 3 miljard dollar: OrbiMed Private Investments X en OrbiMed Asia Partners VI.
OrbiMed Private Investments X heeft meer dan 1,9 miljard dollar opgehaald voor durfkapitaalinvesteringen in de life sciences-sector in de VS en Europa. OrbiMed Asia Partners VI heeft meer dan 1 miljard dollar opgehaald voor investeringen in groeikapitaal en durfkapitaal in de gezondheidszorg in Azië. Beide fondsen streven ernaar toonaangevende bedrijven in de gezondheidszorg op te bouwen die zich richten op biofarmaceutica, medische hulpmiddelen, diagnostiek en technologisch ondersteunde zorgdiensten.
“Er is nooit een spannender moment geweest om te investeren in innovatie binnen de life sciences”, aldus Carl Gordon, een van de managing partners bij OrbiMed. “AI, de snelle toename van nieuwe therapeutische modaliteiten en de ontwikkeling van China tot een biotechnologische grootmacht vergroten de mogelijkheden om transformatieve behandelingen te ontwikkelen. We kijken ernaar uit ondernemers te helpen deze ontwikkelingen om te zetten in toonaangevende bedrijven in de gezondheidszorg.”
OrbiMed wordt geleid door 20 partners en ondersteund door een team van meer dan 150 professionals met complementaire expertise op het gebied van bedrijfsincubatie, strategie, bedrijfsvoering en financiën. De onderneming is actief vanuit 12 locaties wereldwijd, verspreid over belangrijke markten in de gezondheidszorg.
Tot de beleggers in deze nieuwe fondsen behoort een brede groep medische instellingen, universitaire schenkingsfondsen, stichtingen, pensioenfondsen, staatsinvesteringsfondsen en family offices.
“We zijn dankbaar voor de voortdurende steun van onze vele langjarige beleggers”, aldus Carter Neild, een van de managing partners bij OrbiMed. “We zullen ons de komende jaren onvermoeibaar inzetten om aan hun hoge verwachtingen te voldoen.”
Over OrbiMed OrbiMed is een toonaangevende investeringsmaatschappij in de gezondheidszorg met meer dan 21 miljard dollar aan vermogen onder beheer. OrbiMed investeert wereldwijd in de gezondheidszorg, van start-ups tot grote multinationals, via private-equityfondsen, public-equityfondsen en royalty-/kredietfondsen. OrbiMed streeft ernaar de voorkeurspartner voor kapitaal te zijn door financieringsoplossingen op maat en de uitgebreide middelen van zijn wereldwijde team in te zetten om toonaangevende bedrijven in de gezondheidszorg op te bouwen. Het team van OrbiMed bestaat uit meer dan 150 professionals en is gevestigd in New York City, Londen, San Francisco, Shanghai, Hongkong, Mumbai, Herzliya en andere belangrijke markten wereldwijd. Ga voor meer informatie naar www.orbimed.com.
NEW YORK, 15. Oktober 2026 — OrbiMed, eine führende globale Investmentgesellschaft im Gesundheitswesen, freut sich bekannt zu geben, dass sie Zusagen in Höhe von 3 Milliarden US-Dollar für zwei neue Private-Equity-Fonds erhalten hat: OrbiMed Private Investments X und OrbiMed Asia Partners VI.
OrbiMed Private Investments X hat über 1,9 Milliarden US-Dollar eingeworben, um Investitionsmöglichkeiten im Bereich des Risikokapitals für Biowissenschaften in den USA und Europa zu nutzen. OrbiMed Asia Partners VI hat über 1 Milliarde US-Dollar eingeworben, um Investitionsmöglichkeiten im Bereich Wachstums- und Risikokapital im Gesundheitswesen in ganz Asien zu nutzen. Beide Fonds zielen darauf ab, führende Gesundheitsunternehmen aufzubauen, die sich auf Biopharmazeutika, Medizinprodukte, Diagnostik und technologiegestützte Gesundheitsdienstleistungen konzentrieren.
„Es gab noch nie einen spannenderen Zeitpunkt, um in Innovationen im Bereich der Biowissenschaften zu investieren”, sagte Carl Gordon, geschäftsführender Gesellschafter von OrbiMed. „KI, die zunehmende Vielfalt neuer Therapieansätze sowie Chinas Aufstieg zu einer führenden Macht in der Biotechnologie eröffnen neue Möglichkeiten für die Entwicklung bahnbrechender Behandlungen. Wir freuen uns darauf, Unternehmer dabei zu unterstützen, auf Grundlage dieser Fortschritte führende Unternehmen im Gesundheitswesen aufzubauen.”
OrbiMed wird von 20 Partnern geleitet sowie durch ein Team von über 150 Fachleuten mit sich ergänzenden Kompetenzen in den Bereichen Unternehmensentwicklung, Strategie, Geschäftsabläufe und Finanzen unterstützt. Das Unternehmen ist an 12 Standorten weltweit in wichtigen Gesundheitsmärkten vertreten.
Zu den Investoren dieser neuen Fonds zählen zahlreiche medizinische Einrichtungen, universitäre Stiftungsvermögen, Stiftungen, Pensionsfonds, Staatsfonds sowie Familienvermögensverwaltungen.
„Wir sind dankbar für die anhaltende Unterstützung unserer vielen langjährigen Investoren”, sagte Carter Neild, geschäftsführender Gesellschafter von OrbiMed. „Wir werden in den kommenden Jahren unermüdlich daran arbeiten, ihre hohen Erwartungen zu erfüllen.”
Informationen zu OrbiMed OrbiMed ist eine führende Investmentgesellschaft im Gesundheitswesen mit einem verwalteten Vermögen von über 21 Milliarden US-Dollar. OrbiMed investiert weltweit in Unternehmen der gesamten Gesundheitsbranche, von Start-ups bis hin zu großen multinationalen Konzernen, und nutzt dafür Private-Equity-Fonds, Fonds für börsennotierte Aktien sowie Lizenzgebühren- und Kreditfonds. OrbiMed strebt danach, der bevorzugte Kapitalgeber zu sein, und bietet maßgeschneiderte Finanzierungslösungen sowie die umfangreichen Ressourcen seines globalen Teams, um den Aufbau erstklassiger Gesundheitsunternehmen zu unterstützen. Das Team von OrbiMed mit über 150 Fachkräften ist in New York City, London, San Francisco, Shanghai, Hongkong, Mumbai, Herzliya und anderen wichtigen globalen Märkten ansässig. Weitere Informationen finden Sie auf www.orbimed.com.
Voxel51 3.0 unifies search, curation, annotation and evaluation into an end-to-end multimodal data platform.
SAN FRANCISCO, Oct. 15, 2026 — Voxel51, the data platform behind AI systems at some of the world’s leading companies, today announced Voxel51 3.0., a major expansion of its platform for building and managing physical AI datasets.
The next wave of AI is moving from the internet into the physical world. In particular, robotics is entering a phase that resembles the early days of autonomous vehicles: rapid investment, increasingly sophisticated foundation models, and an urgent need for infrastructure built around complex real-world data.
Voxel51 CEO Brian Moore adds, “We saw this play out with our customers building autonomous systems and perception models. The teams that got their data infrastructure right from the start were able to move faster. Physical AI and robotics is at that same inflection point. The companies building that foundation today are going to have a real advantage as their data and models scale.”
Voxel51 3.0 brings the core data workflows for physical AI into a single, extensible platform built for teams moving from prototype to production. New capabilities include:
Voxel51 Agent: An AI agent that works across the physical AI data loop to search, curate, label, evaluate, and chain actions into repeatable workflows.
Voxel51 Search: A persistent, hybrid search index that combines semantic search, lexical queries, and metadata filters as datasets grow.
Voxel51 Annotation: Annotation workflows across 2D, 3D, video, and multimodal data, including automated labeling with vision-language models through Agentic Labeling.
Multimodal time-series support: Synchronized visualization of sensor streams and segment-level embeddings for finding specific moments within long recordings.
Data provenance: Activity logs, sample edit history, and dataset versioning that track changes and help teams identify exactly what data went into a model.
Bring your own models: A model-agnostic architecture that supports foundation models and domain-specific models across embeddings, inference, auto-labeling, and evaluation.
Voxel51 is built for the physical AI data flywheel
Models are getting easier to build. Data work is not. And teams that consistently get models into production invest heavily in the work of systematically finding, fixing, and improving their training data. According to the State of Physical AI 2026 report, exceptional teams are three times more likely than struggling teams to spend more than half their project time on data work.
Voxel51 3.0 brings the core workflows for physical AI into an end-to-end data platform, helping teams move from raw multimodal recordings to searchable, curated training data and support active learning as models improve.
Voxel51 Agent is the most capable agent for the physical AI data flywheel. The agent draws on more than 45 MCP tools, 80+ built-in operations, and dozens of skills to chain actions across search, curation, labeling, evaluation, and other data workflows.
“Physical AI teams don’t need another chat interface sitting on top of their data,” said Voxel51 Product Manager Adonai Vera. “They need an agent that can maintain context across the model development lifecycle and orchestrate actions across the full data flywheel.”
Nebius and Voxel51 partner to connect the physical AI data and compute stack
Nebius and Voxel51 address two of the hardest infrastructure problems in physical AI: compute and data.
Nebius provides predictable performance and reliable cloud infrastructure as an integrated system engineered for AI, while Voxel51 helps teams turn large volumes of raw recordings into model-ready datasets.
Together, the companies are hosting a series of hands-on workshops where developers can run Voxel51 workflows on Nebius AI Cloud. The goal is to help teams build a tighter physical AI data flywheel while spending less time stitching together the underlying data and compute stack.
“Physical AI is the next major frontier for AI because it brings digital intelligence into the world of atoms,” said Evan Helda, Head of Physical AI at Nebius. “But getting there will take more than better models. Robotics teams need the compute, cloud platform, and data infrastructure to turn every deployment, failure and edge case into a faster next iteration. That’s the kind of foundation we’re building with partners like Voxel51.”
About Voxel51
Voxel51 is an end-to-end data platform for physical AI, helping teams turn complex multimodal datasets into better AI models. The platform unifies search, visualization, curation, annotation, and evaluation, with AI-powered workflows that automate data-intensive tasks, while giving developers control over their models and infrastructure. Voxel51 is trusted by teams at Berkshire Grey, Ford, Porsche, and Precision Planting to develop AI systems that operate in the physical world.
LOS ANGELES, Oct. 15, 2026 — Uniform Labs, the developer of Multiliquid, the institutional liquidity protocol for tokenized assets, today announced the close of its seed round led by Polychain, with participation from Strobe Ventures, CMT Digital, Metalayer Ventures and Generative Ventures, and Circle Ventures, bringing Multiliquid’s total funding to $8 million.
Tokenized assets, from Treasuries and money market funds to private credit and other real-world assets, represent the fastest-growing frontier in institutional digital finance. However, market adoption remains constrained by traditional primary subscription and redemption cycles that can take days to settle. With federal stablecoin frameworks like the GENIUS Act prohibiting payment stablecoin issuers from paying yield directly to holders, institutions require programmatic rails to rotate between yield-bearing tokenized investments and transactional stablecoins 24/7, at scale, without balance-sheet drag.
Multiliquid delivers that infrastructure. It is a neutral, compliance-first liquidity layer that lets holders swap blue-chip tokenized assets and stablecoins in a single atomic transaction. The protocol supports tokenized funds from premier asset managers, including Wellington Management, VanEck, Janus Henderson and Fasanara, as well as major stablecoins, including USDC.
“Tokenization only matters if the assets are actually liquid,” said Will Beeson, Founder and CEO of Multiliquid. “Traditional capital markets rely on deep repo facilities and overnight lending to keep liquidity moving. On-chain finance requires the same institutional plumbing. Having Polychain lead this round, joined by Strobe Ventures, CMT Digital, Metalayer Ventures, Generative Ventures and Circle Ventures, validates our focus: liquidity and continuous settlement are the next foundational layer for institutional adoption.”
“Tokenized assets have started to gain traction but liquidity remains the bottleneck. Multiliquid is building the connective layer for institutions to move seamlessly between tokenized funds and stablecoins across issuers and venues. Will’s deep experience in this market is unmatched, and we’re excited to back this breakthrough project,” said Olaf Carlson-Wee, Founder of Polychain.
About Multiliquid Multiliquid is a 24/7 instant settlement platform for tokenized assets, providing continuous, atomic conversion between regulated real-world assets and stablecoins. Founded by veterans of Standard Chartered and UniCredit, Multiliquid enables institutions to eliminate settlement friction across on-chain capital markets. Learn more at multiliquid.xyz.
North is approaching $2 billion in managed cloud spend and has helped customers save more than $400 million and is trusted by AssemblyAI, Tines, Atlan, SnapLogic, Emplifi and Imply.
NEW YORK, Oct. 15, 2026 — North.cloud, the financial operating system for cloud, AI and data, today announced it has closed $60 million in Series B funding. The round was led by PeakSpan Capital, with participation from Litquidity Ventures, Companyon Ventures, Alpaca, Uncommon Denominator, Gaingels, and Mana Ventures. North will use the funding to expand autonomous optimization across cloud providers, deepen integrations, accelerate AI spend management, and scale its engineering, product, and go-to-market teams.
As companies expand across Amazon Web Services, Google Cloud Platform, and Microsoft Azure while adopting AI services and modern data platforms, infrastructure costs are becoming increasingly interconnected with business growth. In practice, one AI feature can touch several systems at once, making costs harder to predict. Most organizations still manage those costs manually, across separate tools and vendor consoles, leaving engineering and finance teams to piece together fragmented data and make technology investment decisions by hand.
Across nearly $2 billion in managed cloud spend, North has helped customers save more than $400 million. Customers including Assembly AI, Atlan, Tines, SnapLogic, Emplifi, and Imply use North to reduce infrastructure waste, increase compute power per dollar of spend, automate spend intelligence, and drive more sustainable AI adoption.
“In the AI era, there’s a direct line between how efficiently you invest in technology and how smart your product actually is,” said Matt Biringer, CEO and co-founder of North. “North sits inside that stack, automating FinOps in just a few clicks, not a dashboard someone has to interpret. The rest of the market still treats optimization as an engineering problem. We think that’s the wrong bet: it’s a business problem, and it deserves a real fintech platform built on automation and AI, not another tool bolted onto engineering’s plate. North is the first product built to eliminate manual optimization entirely, democratizing FinOps so any company can move faster and run leaner.”
The financing follows the launch of North v3, which expanded the platform to Microsoft Azure, completing coverage across all three major hyperscalers. The release also introduced native integrations with OpenAI, Anthropic, and Snowflake, and extended Autobot, North’s automated commitment laddering engine.
“With North our effective savings rate has held steady at around fifty percent even as our infrastructure has scaled up considerably over the past year,” said Ben Gotthold, Head of Inference at AssemblyAI. “Since partnering with them I haven’t had to think about managing cloud savings. Coverage has grown automatically allowing my team to focus on building for our customers instead of our cloud bill.”
As cloud infrastructure evolves, North is also expanding its platform to address the rapid growth of AI spend. TokenFlow brings model usage, attribution, budgets, and financial controls into the same system companies use to manage cloud infrastructure, reflecting North’s view that these traditionally separate categories are increasingly becoming one financial problem.
“Cloud is where the spend problem started, and AI has only accelerated it, turning infrastructure into the fastest-growing and least-governed line item on the P&L,” said Sanket Merchant, Partner at PeakSpan Capital. “With an estimated 30% of cloud spend wasted, before AI and data costs are even counted, hundreds of billions of dollars that should be fueling growth are lost every year. Our thesis has always been that the winner will not stop at visibility. It will agentically own the entire lifecycle of spend, and North is already doing this. Matt and the team pair a bold vision with the operational rigor to execute on it, and that combination has earned the trust of some of the most innovative, hypergrowth companies in the market. Partnering with founders like Matt is why we do this work. We are grateful for the trust the team has placed in PeakSpan, and we could not be more excited to support them as North builds a consequential business and the category leader. “
“What North has built in product sets the stage for something much bigger than cost optimization: an agentic managed service that does the work of an entire FinOps team, continuously,” said Yaseen Abdulridha, Vice President at PeakSpan Capital. “That surface area was once limited to cloud spend, and it has now expanded dramatically to cover the AI and data platforms every modern business runs on. We are energized by how quickly North has moved to meet that moment, and even more by what it means for customers who will never have to build that team themselves.”
North.cloud was represented by Founders Form, which served as legal counsel on the round.
About North.cloud
North.cloud is the infrastructure spend intelligence and automation platform for modern businesses. North gives finance and engineering teams a single system to understand, optimize, and automate spend across cloud, AI, and data, completely eliminating the need for manual oversight. The company is trusted by AssemblyAI, Atlan, SnapLogic, and Imply, is approaching $2 billion in managed cloud spend, and has helped customers save more than $400 million with a 98.8% retention rate.
Media Contact Sara Gharnit VP of Marketing North.cloud [email protected] 516-508-8611
Brings total raised to $130M, former PURE Chief Underwriting Officer joins as President of P&C and former Nephila executive joins as CFO. Total insured value grows 10X to $10B.
SAN FRANCISCO, Oct. 15, 2026 — Stand today announced it has raised a $70 million Series C at a $1 billion valuation. The round was led by Saga Ventures with participation from Lowercarbon, Eclipse, Equal Ventures, Inspired Capital, Neotribe, and Jackson Square Ventures, among others. Stand now insures more than $10 billion of property, up from $1 billion a year ago. The company is building toward a single mission: to insure all the world’s resilient property, by making homes safer and thus insurance cheaper.
Disasters are getting bigger and more frequent. A billion-dollar weather disaster now strikes the U.S. every 10 days. For many homeowners, insurance has become expensive, hard to find, and unpredictable. Premiums jump, coverage gets harder to renew, and families are often left scrambling, even when nothing about their home has changed. That’s because insurance is still priced by looking backward at past disasters. Stand believes the answer is physics: simulate how a home will actually perform in a disaster, make it resilient, and insure it with confidence for decades. This means safer homes, cheaper insurance and more durable coverage.
It starts with simulation. The Stand World Model creates a digital representation of every home and simulates how it will perform under fire, wind, and other disasters. It accounts for the home’s construction, its surroundings, and the weather it faces. Instead of waiting decades for history to reveal what works, Stand pulls the future forward. It shows exactly what makes a specific home vulnerable and the most cost-effective ways to protect it.
Stand helps make the home resilient. Stand analyzes a specific home and recommends improvements to increase safety while preserving character. Stand also helps owners do the work: it guides each step, connects them with trusted partners, and confirms completed improvements on their behalf.
Stand insures it for the long run. Resilient homes are less likely to burn in a wildfire, and Stand shares the savings from this reduction in risk with homeowners in the form of discounts of up to 70%. Just as important, they earn stability. Since the properties are resilient to disasters, owners and their brokers can count on highly competitive, stable prices and coverage over time.
“Disasters follow the laws of physics, and insurance should too,” said Dan Preston, co-founder and CEO of Stand. “If your home is resilient, you should be rewarded with a low premium and never have to worry about losing your coverage. We want to insure every resilient property in the world, and help make every property safe.”
Leadership additions
Stand also announced the addition of two senior executives to continue to scale growth.
Drew Saad joins as President of Property & Casualty. He was most recently Chief Underwriting Officer at PURE Insurance, where he led underwriting for one of the country’s leading high-net-worth insurers.
“The companies that reshape a market for decades are the ones that identify a fundamentally better way to understand risk, and Stand has done that for the homes exposed to natural disasters,” said Saad. “With the science already in place, the opportunity now is to build an insurance operation that matches it and scales it to every market that needs it. That is the work I have spent my career preparing for, and it is why I joined Stand.”
Tony Landi joins as Chief Financial Officer. He was most recently Head of Strategic Growth at Nephila, one of the world’s largest fund managers of catastrophe reinsurance. Before that, he was Head of Reinsurance & Capital Management at Openly and Head of Portfolio Management at Everest Re. At Stand, he will lead finance, reinsurance, capital markets, and growth strategy as the company scales.
“What drew me to Stand is the depth of the team, with real experts in physics, underwriting, and product working on the same problem,” said Landi. “My job is to make sure that as Stand grows, the capital is there to support it, from our investors and our reinsurance partners alike. We’ll do that by building diversified, resilient portfolios and matching risk and returns to capital appetite.”
About Stand
Stand protects and insures homes in catastrophe-exposed regions by partnering with homeowners to understand what drives their risk and physically strengthen their properties. Stand underwrites and services policies issued by Concert Specialty Insurance Company (AM Best A-) in California and Stand Insurance Exchange (Demotech A) in Florida, reinsured by AM Best A and A+ reinsurers such as Arch, RenaissanceRe, Hannover, Nephila, and Hiscox. Learn more atstandinsurance.com.
