New Firm Pioneers Operator-Immersive Capital Model to Empower Early-Growth Startup Go-to-Market Success

SCOTTSDALE, Ariz., Feb. 7, 2023 — In Revenue Capital, the first operator-immersive capital firm focused on early-growth investing, today announces its official launch. Founded by serial entrepreneur Justin Gray and sales & marketing expert Josh Wagner, the new firm is setting out to fix the broken venture capital (VC) system. Unwilling to accept the fact that only 8% of all funded startups actually return invested capital, Gray and Wagner are creating a reality in which founders have not only the funds, but also the guidance needed to grow and succeed. In Revenue Capital plans to make eight to 10 investments in the next 12 months.

“We feel strongly that the current venture business is the movie-making business, in that deals are structured to work well for the financier but abysmally for the founder, while seeking that one big blockbuster,” said Justin Gray, Co-Founder & Managing Partner at In Revenue Capital. “We’re looking to upend this by prioritizing startup success without sacrificing investor returns. We believe that value-add capital is the future, and we’re running through that wall armed with what we see as the next big thing in go-to-market, Partner-led growth. We see organizations that are embracing partner ecosystems as a more efficient means of customer acquisition and enablement outperforming legacy inbound and outbound strategies. ‘Nearbound’ is purpose built to serve both the needs of today’s high expectation buyers as well as the market pendulum swing toward fundamentally strong businesses. And we have the expertise and experience to drive this forward with founders and their companies.”

In Revenue Capital is putting these principles into action immediately, through its first investment into Statera. Participating in a $2.5M follow-on Seed round led by DWP-Capital, the firm is investing in growing Statera’s vertical Software-as-a-Service (SaaS) solution for the healthcare industry. Statera tackles the complex issues surrounding physician compensation, purpose-built to solve high physician attrition by increasing visibility into payments and removing overall friction.

“We’re excited to leverage this new investment to accelerate our rapid growth as Statera transforms provider compensation and performance management,” said Amy Jackson, CEO & co-founder of Statera. “In Revenue Capital is an ideal partner for Statera as we move deeper into the market and expand the ways in which we deliver value to our customers. The depth of experience that Justin and Josh bring to the table is unparalleled and we are thrilled to integrate their expertise at such a pivotal time.”

The team at In Revenue Capital specializes in the B2B industry. When considering investments, they look to capitalize on strong product market fit, and then amplify GTM fit. From there, they identify both Ideal Customer as well as Partner profiles and create scale by introducing maturity within the GTM motion to match the maturity of the product. The founders of In Revenue Capital believe they can achieve a 3X to 4X return on investment in a very short amount of runway when applying this methodology.

“I know Justin and Josh professionally, and think what they’re bringing to the market is sorely needed,” said David Paul, managing director at DWP-Capital. “I don’t believe in simply throwing money at a promising startup, but actually investing in the day-to-day and the drivers that fuel growth. We’re on the same page as In Revenue, and they’re the perfect firm to join the round with us. All of us feel really thankful that we found a founder like Amy Jackson and her startup Statera to back with our resources.”

To learn more about In Revenue Capital’s philosophy, and to read the founders’ manifesto, visit inrevenue.capital.

About In Revenue Capital

In Revenue Capital was created as a Founder-friendly fix to a broken venture capital (VC) system, in which deals work out well in aggregate for financiers but more often poorly for portfolio companies. Coupling capital with rich go-to-market (GTM) expertise in a true value-add model, the firm offers both funding and embedded operators to help founders and their companies grow and succeed. For more information, please visit inrevenue.capital.

SOURCE In Revenue Capital

GOLDEN, Colo. , Feb. 7, 2023 — NovoHydrogen, a leading renewable hydrogen project developer, today announced that it has closed its seed funding round and officially appointed four esteemed executives to its board of directors. With the board’s guidance throughout 2022, the company has already produced impressive results including the accelerated development of its leading pipeline of projects and the growth of a team of dedicated seasoned industry professionals.

More than twice as energy-dense as gasoline and approximately fifty times lighter, hydrogen – when produced using state-of-the-art green energy and electrolytic technology – is the key that unlocks the energy transition. Green hydrogen can store immense amounts of dispatchable clean energy, which will be crucial for enabling the industrial transition. The steel, chemical, and transportation industries all require cost-effective green hydrogen to decarbonize. Grand View Research expects the market for green hydrogen to expand at a compound annual growth rate (CAGR) of 40% through 2030, reaching USD 60.56 billion by 2030. The technology to produce hydrogen cost-effectively is in the middle of a rapid ‘S-curve’ cost-down process mirroring the early phases of the semiconductor and solar industries.”

NovoHydrogen is the premier North American green hydrogen developer. Based in Golden, its team is a collection of leaders with deep expertise in deploying and commercializing successful innovative energy transition technologies and projects. With unique backgrounds and skill sets, the company has established key technology and OEM relationships, which in turn will enable the company to deliver zero-carbon fuels when and where they are needed.

“NovoHydrogen has assembled the perfect team at the perfect time to deliver high-performance green hydrogen plants nationwide,” said Joe Malchow, board member of NovoHydrogen. “I’m grateful to have the opportunity to contribute to this next-generation clean energy company. With step-change advancements in electrolyzer technology and abundant clean energy at minimal cost, we look forward to building efficient, high-yielding solutions for our partners and customers.”

The NovoHydrogen board includes several clean energy leaders, including:

• Jeremy Avenier:
• Active Investor at Ohmium International, a leading green hydrogen company that designs, manufactures, and deploys advanced Proton Exchange Membrane (PEM) electrolyzers.
• Board member of Larkin Street Youth Services, the largest non-profit provider of services for young people experiencing homelessness in San Francisco.
• Former VP of Finance at SunEdison, an innovative and personalized solar energy solutions provider.
• Peyton Boswell:
• Managing Partner at Woodfield Renewable Partners, a clean energy investment company focused on the acquisition, ownership and operations of distributed generation solar & storage assets.
• Managing Director at MaxSolar, an independent national provider of Operations & Maintenance (O&M), Technical and Asset Management Services for distributed energy assets.
• Former CEO and Co-Founder of EnterSolar, a leading provider of solar solutions to the C&I marketplace. Founded in 2010, EnterSolar was acquired by EDF Renewables in 2021 and rebranded as PowerFlex.
• Bruno Franco:
• Partner at Pacífico Energia, a Brazilian capital firm with activities in energy trading and investment funds
• Managing Partner at PWR Capital, a private investment firm with assets in Brazil and US.
• Former CFO of Latin America Power, a renewable portfolio company with operations in Chile and Peru.
• Former Associate Partner at BTG Pactual, managing several infrastructure funds in the Latam region.
• Joseph Malchow:
• Managing Partner at Hanover, a Silicon Valley venture capital investment fund.
• Board member and investor in Enphase (ENPH), a global energy technology company pioneering microgrid, solar, and storage technology
• Board member and investor in Archaea (LFG), the nation’s largest producer of renewable natural gas, which was recently acquired by BP
• Investor in Enovix (ENVX), the leading Silicon Lithium-Ion battery company

NovoHydrogen develops both on and off-site renewable hydrogen solutions for its customers. This innovative approach provides large industrial, heavy duty transportation, and power customers with cost effective, resilient, secure, and clean hydrogen molecules to run their operations without the associated greenhouse gas emissions of fossil fuels

“I am delighted to be working with such an incredible board of directors,” said Matt McMonagle, CEO of NovoHydrogen. “Renewable molecules, like hydrogen produced via the electrolysis of water with clean power, will play a key role in decarbonizing society along with other necessary energy transition technologies. Novo now has the resources, connections, and the partner network to drive the globe towards a clean energy future. We look forward to many more announcements regarding our progress throughout 2023.”

About NovoHydrogen

NovoHydrogen is a renewable hydrogen project developer. NovoHydrogen’s mission is to accelerate the energy transition with a focus on the tough-to-decarbonize industrial, transportation, and power sectors. We are led by the conviction that zero-carbon hydrogen is a key piece of the decarbonization puzzle. This drives our passion for our work. NovoHydrogen focuses on the origination, project development, and financial structuring of renewable hydrogen projects to serve our customers. We leverage our deep energy sector knowledge to provide renewable hydrogen solutions. NovoHydrogen is experienced at deploying and commercializing successful innovative energy transition technologies. Our extensive learnings from across the energy sector include developing solar, wind, and battery storage assets and oil & gas operations. This track record has given us real project experience that customers can trust.

For More Information: https://novohydrogen.com

Contact
David Ganske
DG+ for NovoHydrogen
(424) 209-2394
[email protected]

SOURCE NovoHydrogen

Car IQ brings innovation to the $600 billion connected vehicle payment market by enabling vehicles to control the purchase of their own fuel and services.

SAN FRANCISCO, Feb. 7, 2023 — Car IQ Inc., a leader in vehicle payments, today announced it exceeded its fundraising target with a $15 million addition to the Series B. The round was led by Forte Ventures with participation from existing investors including State Farm Ventures®, TELUS Ventures, and Avanta Ventures (the corporate venture arm of CSAA Insurance Group). New strategic investors Visa, Bridgestone, Navistar, and Circle K also joined the round, which brings the total funding raised to-date to $42 million.

Founded in 2016, Car IQ created a new form of machine identity verification allowing vehicles to connect directly with banks and service providers and make purchases without the use of a physical credit card. The company’s product, Car IQ Pay, offers commercial fleets an easier way to pay for fuel, tolls, and parking by leveraging vehicle data to automate the payment process. This allows fleets to manage their spending more effectively, develop unique insights, and reduce fraud. Currently Car IQ Pay is accepted at over 21,500 fuel stations nationwide including Shell, Sunoco and others across the US.

The new funds will be used to accelerate the expansion of the Car IQ payment platform in the face of increasing demand from customers and merchants, and to add new commerce categories such as electric vehicle charging, repairs, registration, and insurance.

“These funds will allow us to move faster and meet the market demands from fleets in the commercial and OTR trucking spaces,” said Sterling Pratz, CEO of Car IQ. “Incorporating vehicle data to the payment transaction is a game-changer: we can determine what the vehicle needs before it buys, validate the purchase after the fact, and make the experience for the driver completely frictionless.”

“Car IQ continues to excel in today’s challenging economic climate,” said Louis Rajczi, partner of Forte Ventures. “The company’s patented technology, ability to attract strategic investments from major fintech and automotive companies, and high-level commercial partnerships are laying the groundwork for rapid growth of their vehicle payment solution.”

Market sizing source: Ptolemus Consulting Group, The Connected Vehicle Payments Global Study, 2020.

About Car IQ Inc.

Car IQ® has created a payment network for cars that eliminates the need for physical credit cards and enables vehicles to connect to merchants and transact securely. Using Car IQ Pay vehicles can automatically initiate and complete payments for services ranging from fueling, toll management, paid parking, EV charging, and more. Car IQ’s payment solution delivers value by reducing fraud and risk for fleets and participating merchants. For more information, visit https://www.gocariq.com 

About Forte Ventures

With offices in Atlanta and Silicon Valley, Forte Ventures is a multi-stage venture capital firm that collaborates and co-invests with corporate strategic partners in technology companies throughout the U.S. and Canada. The team simultaneously focuses on helping entrepreneurs navigate the complexities of corporate investment and on serving as trusted partners to institutional and corporate strategic syndicate partners. For more information, visit www.forteventures.com  

SOURCE Car IQ

NEW YORK, Feb. 7, 2023 — abillion, the emerging sustainability-focused social media and e-commerce platform with over a million members globally, has launched a community investment round on Wefunder. The venture-backed company is choosing to invite retail investors and its community of members – who would ordinarily only get access after an IPO – to invest.

abillion’s social commerce platform’s community boasts over 2.5 million user-generated reviews of consumer products. 4,700 Software-as-a-Service customers are on recurring contracts, eyeing new user acquisitions as a strong motivator. abillion has seen whooping 20x growth over the last two years.

The round is led by Nicholas Cator, who led Series A and B rounds in Oatly ($13b IPO), Chewy ($22b IPO) and Lazada (SE Asia’s largest marketplace, acquired by Alibaba). abillion previously raised $16M in Series A funding from notable investors including 500 Global, SDG Impact Japan, and Blue Horizon, and has launched its Regulation CF community round on leading community investment platform, Wefunder. 500 Global, which led abillion’s seed round and has backed 51 unicorns, is also participating again in this round.

“Since launching our Community Equity program in 2022, we’ve brought on board more than 10k of our members around the world as stakeholders in our vision for a better world. This year, as we raise capital to grow, we’re proud to be opening up our investment round to our community of members and anyone that believes in our mission to create a better, more impactful social network.” Vikas Garg.

The abillion team is made up of leaders from the world’s leading companies including Credit Suisse, GE, Johnson & Johnson, Delivery Hero, Yahoo, Apple and Microsoft. abillion’s Founder and CEO, Vikas Garg, is a finance industry veteran having managed over $10 billion for investment banks, hedge funds, public pension funds & sovereign wealth funds of California, Canada, Abu Dhabi and Singapore.

abillion’s current investment round is open to both accredited and non-accredited investors alike, with an investment minimum of $100.

Invest: https://wefunder.com/abillion.
Contact: [email protected] 
Logos: here
Photos: here

About abillion

Founded by CEO Vikas Garg in 2018, our mission is to mobilise a billion people to save the world, by making better choices for the planet.

Through our unique giving program, abillion has donated over US $2.5 million to create impact for animals, children and the environment.

https://impact.abillion.com/about

SOURCE abillion

ATLANTA, Feb. 6, 2023 — Atlanta, GA based Quipli (quipli.com), fast becoming the market leader of software in the $60bn equipment rental market, announced today that it has raised $3.5M from Boundless Venture Co (bvco.co), a venture studio based out of Oakland, CA. The capital will be put towards expanding Quipli’s cutting-edge technology and ensuring that it continues to deliver the best equipment rental management solution to its customers.

“We have worked with Kyle Clements [Quipli founder and CEO] since Quipli was just an idea, and we couldn’t be more excited to announce our continued support and partnership with him and the team,” said Dan Saper, CEO of Boundless. “We found that customers in this market have been frustrated with legacy options and are ready for the next generation of software. The pain points are real and the opportunity is massive.”

Quipli has exploded from zero to over 100 equipment rental customers in just its first 18 months of existence, and continues to iterate quickly as it serves more and more upmarket customers.

“It’s amazing what a modern technology platform can do, in terms of speed of new product releases. Many customers were asking for a Service & Repair module in Q4, and we were able to deliver this feature in just a few weeks based on great feedback by our customer base,” said Clements.

Clements has been selected by the American Rental Association (“ARA”) to headline its upcoming Future of Rental panel at the Annual ARA Show on February 11th.

Court Kasten joined Quipli from Clutch Automotive and Sage Intacct as its COO in 2022 to help scale the business. “We added nearly 20 people to the team in the last year to keep up with demand and to continue to provide best-in-class customer support,” said Kasten. “We’re proud to offer free support and 5-minute response times on emails during business hours.”

Quipli has recently added several high profile customers, including Arapahoe, Haulotte, SANY, and Sonsray.

“Quipli is clearly leading the next generation of software in the equipment rental market,” said Evan Moore, General Manager of Arapahoe Rental, which runs nine locations across Colorado and Wyoming. “We hit many dead ends during our hunt for a fully web based rental management software with multi location capabilities and an integrated ecommerce website with real time availability. We ran trials with multiple software vendors side-by-side for several months, and there was no comparison to Quipli’s pace of development, and customer support.  Quipli listens to our needs regularly and shows an excitement to develop requested features. The crew at Quipli has made Arapahoe Rental feel like a partnership and not just another Customer.”

About Quipli 
Quipli, founded in 2020 and based in Atlanta, GA, specializes in developing the latest equipment rental software for independent rental companies. Their platform offers a comprehensive suite of tools including e-commerce storefront, inventory management, payments and billing, invoicing, service and repair, as well as marketing services, all accessible through a cloud-based solution. Quipli is committed to providing robust security, easy implementation and outstanding customer support for it’s construction equipment rental software platform, with a response time of just 5 minutes during business hours through chat, phone, email, and text support.

About Boundless 
Founded in 2020 and based in Oakland, CA, Boundless is a venture studio building the next generation of vertical SaaS companies. Boundless ideates, funds, and builds powerful SaaS solutions for industries traditionally overlooked by venture capital. Boundless partners with aspiring entrepreneurs to co-create the companies from scratch and help them launch, build, and grow software businesses that can endure profitably for decades.

Contact:
(407) 634-2139 
[email protected]

SOURCE Quipli

Witnessing a growing appetite for insights into on-chain activity, the blockchain data intelligence company doubled headcount and tripled valuation in 2022

NEW YORK, Feb. 6, 2023 — Elementus — a web3 company whose blockchain data intelligence platform helps forward-thinking, data-driven organizations of all sizes to leverage the power of blockchain — today announced a $10M Series A-2 funding round led by ParaFi Capital, a crypto-native investment and technology firm that has led early-stage rounds in dozens of blockchain companies. The investment brings Elementus’ total funding to $27M following a $12M raise late in 2021 and comes amidst a growing need for more transparency across blockchain-based businesses following a year marked by a number of high-profile collapses in the broader cryptocurrency landscape.

ParaFi is a crypto-native investment and technology firm founded in 2018 focused on token, venture, and quantitative strategies. One of the earliest and largest institutional investors in the space, ParaFi has backed many of the industry’s pioneering innovators and protocols and employs a deeply technical approach to investing, leveraging the protocols and infrastructure it invests in. Its lead investment in Elementus comes after an active year despite down markets.

“Despite recent headwinds in the industry, we continue to see unparalleled innovation within the blockchain space—and we’re only scratching the surface of the transformational impact this technology will have on legacy business models and the global economy,” said Ryan Navi, principal at ParaFi Capital. “We believe there are significant value-creation opportunities at the data and infrastructure layer of blockchain, where platforms will not only make blockchain data more accessible and transparent but also drive new insights and revenue opportunities for customers. We believe that this segment of the blockchain ecosystem will play a large role in the next phase of growth and anticipate widespread adoption. When we first met Max and heard his vision for Elementus, we saw an entrepreneur and a company that was perfectly positioned to capitalize on this opportunity. We couldn’t be more excited to invest in this team and help them fulfill their potential.”

“Last year has thrown into the limelight the tremendous importance of comprehension, auditability, and transparency of blockchains,” said Max Galka, CEO of Elementus. “As the broader crypto industry seeks to emerge from a tough year, it will be critical to do so in a way that foments trust, reliability and security among both users and businesses operating in this still-nascent market. This new strategic investment from ParaFi allows us to continue building the world’s most advanced industrial-grade blockchain data solutions in the world that will help return confidence and transparency to blockchain-based businesses.”

Elementus’ blockchain intelligence platform is being used by financial institutions to build the future of finance and commerce on the bedrock of blockchain and digital currencies, and by key U.S. governmental agencies to solve some of the most high-profile ransomware investigations. Its platform — which enables investigation of on-chain activities, identifying risk and discovering valuable market intelligence — provides the most complete data set and sophisticated tagging/attribution capabilities on the market, resulting in the actionable insights businesses need to grow and prosper safely in a web3 world. Elementus’s data-first core and proprietary algorithms give it a complete view into the flow of funds at the most granular level, empowering financial services and crypto exchanges to use blockchain data strategically with the highest degree of confidence.

Funds from the $10M A-2 raise are earmarked for hiring and new product development. The ParaFi-led round comes one year after the company’s Series A funding round and adds to an already noteworthy 2022, in which Elementus:

• Increased its valuation 208%, from $52M to $160M;
• Doubled its headcount, including the expansion of its leadership team with three strategic hires from Meta, JPMorgan, and Global Relay;
• Was named to The Information’s 50 Most Promising Startups of 2022 list in the crypto category;
• Selected by the Official Committee of Unsecured Creditors of Celsius Network and of BlockFi as Blockchain Intelligence and Forensics Expert in two of the most high-profile crypto bankruptcies.

About Elementus
Elementus helps solve the toughest blockchain data problems so organizations can navigate web3 safely and with confidence. Its intelligence platform is used by financial institutions to build the future of finance and commerce on the bedrock of blockchain, and by key U.S. governmental agencies to solve some of the most high-profile ransomware investigations. Elementus helps organizations investigate on-chain activities, identify risk, discover valuable market intelligence or a combination of all three. By providing a complete view into flows of funds at the most granular level, Elementus delivers actionable insights and transparency needed to grow and prosper safely in a web3 world. The company is backed by ParaFi Capital, Velvet Sea Ventures, Pomp Investments, Morgan Creek Digital Assets, Avon Ventures, Lightspeed Venture Partners, Gemini Frontier Fund, and Blockchain.com. For more information, visit elementus.io.

Media Contact:
SHIFT Communications
[email protected]
[email protected]

SOURCE Elementus

The $23 million Series A led by Alphabet’s CapitalG includes prominent investors Nat Friedman (former CEO of Github and co-creator of Copilot), Elad Gil, and Amplify Partners, bringing the company’s total funding to $28 million.

SAN FRANCISCO, Feb. 6, 2023 — Magic.dev, a new startup that is developing an AI-powered software engineer, announced a $23 million Series A led by Alphabet’s independent growth fund, CapitalG, with participation from prominent investors Nat Friedman, Elad Gil, and Amplify Partners. This brings the company’s total funding to $28 million.

Magic is developing an “AI colleague” for software engineering. Like a human engineer, it aims to communicate in natural language and collaborate with users on complex code changes. Powered by large language models, the product operates like an AI pair programmer able to understand and continually learn more about the context of the work and the user. 

Magic co-founder and CEO Eric Steinberger said, “Our mission is to deploy AI to accelerate science and make the world more productive. For decades, technology was just a tool; soon it will be a colleague. The adoption of ‘AI assistants’ in the workplace will be as impactful as the industrial revolution, and it’s important to get this transition right.” He added, “I’m excited to be applying our technology to the field of software engineering; it’s highly complex, collaborative, and a bottleneck for many organizations. Due to what remains a tight technical talent market, many organizations are unable to hire the engineers they need. Magic will enable people and organizations to build game-changing technology faster and more easily than has ever been possible before.”

Before founding Magic in 2022, Steinberger founded ClimateScience.org in order to make climate change education accessible to children worldwide, worked as an ML researcher at FAIR, and studied computer science at the University of Cambridge.

“I’ve been evaluating enterprise applications for AI for the past three years,” said CapitalG partner Jill Chase who led the investment and will be joining Magic’s board. “Code generation is an obvious application for AI, given the magnitude of the software development market and the clear ROI associated with productivity gains. It’s a space where the best technology will win because the open ecosystem allows for easy distribution of the best product. Magic is highly differentiated from other code generation start-ups because it’s on a path to go far beyond simple code completion; it’s building a true AI colleague. This has the potential to fundamentally change software development.” 

Elad Gil, serial entrepreneur and investor, said, “Eric and his team have a strong vision for AI’s potential in the field of code generation. I’m excited to back Magic in this exciting space.” 

Mike Dauber, general partner at Amplify Partners, added, “Despite all of the attention given to Generative AI, we were surprised and impressed by how much better Magic was than anything else that we’d seen. Magic has the potential to grow into a truly generational business.”

Over the last few years the high cost of software developer talent (on average about $150K+ per year) and the scarcity of that talent (IDC predicts a shortfall of 4 million engineers by 2025) have fostered interest in developer productivity tooling. IDC estimates there to be 25 million developers worldwide and predicts that number to grow to 40 million by 2027. Magic’s technology will help software developers scale their impact and build better products faster.

About Magic.dev

Magic is a public benefit corporation dedicated to building and safely deploying aligned, superhuman AGI. Seeing AI complete complex tasks feels like magic to us, and we can’t wait to see what developers will build with our product. Learn more at www.Magic.dev.

About CapitalG

CapitalG, Alphabet’s independent growth fund, invests in remarkable companies transforming the fields of enterprise infrastructure, security, and data; fintech; and consumer services and marketplaces. CapitalG partners with growth stage companies in their transition from startup to scale up through hands-on assistance from its in-house growth team and connections to Google’s engineering, product, marketing, sales and people operations experts worldwide. More than 3,000 Googlers and Alphabet leaders have advised more than 4500 portfolio employees at companies including Airbnb, CrowdStrike, Databricks, Duolingo, Lyft, Robinhood, Stripe, UiPath,  and Zscaler, among others. Learn more at www.CapitalG.com.

Media contact: 

Melissa Sobel,
CapitalG Communications Partner,
[email protected]

SOURCE CapitalG

With 8x growth in two years, ShiftMed secures capital to accelerate its mission of revolutionizing access to healthcare workers

MCLEAN, Va., Feb. 6, 2023 — ShiftMed, one of the largest W-2 healthcare workforce management marketplaces, has raised $200 million led by healthcare investors, Panoramic Ventures with participation from Blue Heron Capital and Audacious Capital. Funds will be used to expand ShiftMed’s national footprint across all segments of the healthcare market.

“Healthcare providers continue to struggle with access to credentialed workers as patient needs and volume continues to rise,” said Todd Walrath, CEO of ShiftMed. “ShiftMed is positioned to provide health systems with a regulatory compliant W-2 solution that leverages local and part-time resources.”

Historically, traditional staffing providers have focused on the travel nursing segment due to the high margins where several large players control the market. Travel nursing rates continue to exceed the budgets of national healthcare providers, which is unsustainable. The sector has grown from $8B in 2020 to more than $13B in 2022. Travel nurse providers are bleeding hospital system budgets while demoralizing in-house teams paid at lower rates.

ShiftMed provides access to a local marketplace with more than 350,000 credentialed W-2 healthcare workers and an automated workforce management platform that uniquely enables acute, post-acute, and in-home providers to manage their resources dynamically. By using mobile and cloud-based software that provide workforce optimization, health systems are able to offer the modern, unified solution to their workforce that increases retention, creates part-time work opportunities, and decreases reliance on travel agencies. ShiftMed also provides access to additional local staff, reducing operating costs by 30-40% compared to travel staffing alternatives.

“By diminishing reliance on travel nurses, ensuring a compliant W-2 workforce, and providing tools to increase retention, we see a path for large health systems to change the labor framework to give them control and predictability,” added Walrath

“Healthcare Providers need solutions that streamline workforce management, bring labor costs back into balance and improve patient outcomes with better care. We see ShiftMed’s growth as validation for the market need. The team continues to execute against a multi-billion market opportunity,” said Paul Iaffaldano, General Partner of Panoramic Ventures. 

ShiftMed is the #1 ranked mobile app for professionals searching for flexible nursing jobs, addressing nursing shortages and enabling hospitals to reach their optimal staffing levels. ShiftMed, as seen on the TODAY Show, has more than 350,000 nurses and aides (W-2 employees) using the app in more than 110 markets across the United States.

About ShiftMed

ShiftMed is a next-generation workforce management platform that connects hospitals, assisted living providers and skilled nursing facilities to the highest quantity and quality of licensed nurses (CNAs, LPNs and RNs). As the #1 nursing jobs mobile app on the App Store with over 350,000 nursing professionals, ShiftMed serves more than 1500 enterprise healthcare partners across the country by offering software tools and direct access to labor for shift scheduling. The ShiftMed on-demand platform dramatically streamlines the delivery of care services and enables healthcare providers access to compliant, credentialed workers to fulfill their staffing needs faster than any other solution. For more information, visit http://www.ShiftMed.com.

Media Contact:
Sara Batchelder
AM Public Relations for ShiftMed
[email protected]

SOURCE ShiftMed

AUSTIN, Texas, Feb. 6, 2023 — Choose Your Horizon Inc. dba Choose Ketamine, a breakthrough mental wellness company, is announcing the completion of its seed financing led by Manifestations Capital, along with Notley Ventures and several industry veterans and thought leaders. Founded in 2021, Choose Ketamine is a virtual, therapeutic ecosystem offering ketamine therapy and aftercare programs that are proving to be highly effective in treating the root causes of mental health issues among treatment-resistant patients.

The financing round has been completed following rapid growth into 12 states across the US. The funding will support Choose Ketamine as it continues to expand its footprint into 50 states and to grow its team of expert clinical providers and trained psychedelic guides.

Choose Ketamine is dedicated to delivering affordable and accessible care to individuals who have been suffering with symptoms of treatment resistant depression, anxiety and PTSD, many of whom have not found relief in traditional mental health offerings.

“This work has been very personally rewarding for our entire team due to the positive outcomes we are seeing in patients and the profound relief that patients are self-reporting, which is what we are continuing to build our mission around,” said Mark Holland, Choose Ketamine co-founder and CEO. “We’re grateful for the support of Manifestations Capital, Notley Ventures, and all of our investors that have supported us to provide personalized treatment plans that drive profound change.”

“We’re excited to partner with these great entrepreneurs and be part of Choose Ketamine’s healing mission to make breakthrough treatments available to a wide audience for mental health,” said Charbel Zreik, Founder and Managing Principal of Manifestations Capital.

The Choose Ketamine executive team and medical advisory team continue to focus on optimizing patient outcomes through the core ketamine therapy protocols. The company will also be introducing complementary therapeutic modalities such as sound and light therapy, group therapy and improvements to our technology platform that already facilitates the entire at-home ketamine therapy experience for patients.

ABOUT CHOOSE KETAMINE

Choose Ketamine is a wellness platform that’s making affordable access to ketamine therapy possible across the U.S. The company is dedicated to developing highly therapeutic customer journeys and patient protocols. In addition to oral ketamine assisted therapy experiences, Choose Ketamine is working with novel sound and light therapies that have the potential to improve the ketamine assisted therapy experience and patient outcomes.

ABOUT MANIFESTATIONS CAPITAL

Manifestations Capital is a leading early-stage venture capital fund investing in distinguished entrepreneurs with innovations that improve health and wellbeing across mind, body, and spirit. Established in 2022 by Charbel Zreik and a team of seasoned operators and investors, the firm provides capital, mentoring, and other resources to support mission driven founders looking to improve lives at scale while providing a top decile return to investors. More information is available at www.manifestationscapital.com.

Contact:
Rob Lee
(410) 886-7398
[email protected]

SOURCE Choose Ketamine