RCM Company’s Existing and New Talent Poised for Exponential Growth in 2023

COLUMBIA, S.C., Feb. 28, 2023 — RSi, a “Best in KLAS” provider of revenue cycle services for the hospital and large physician practice market, recently announced two changes within its executive leadership. Derek Shaw, the current President of RSi’s recently acquired Invicta division, has been named as RSi’s Chief Operating Officer. Additionally, Dustin Spencer, RSi’s Vice President of Sales, has been promoted to Chief Sales Officer.

Derek Shaw
Derek Shaw is widely recognized as an industry visionary in healthcare and revenue cycle management (RCM) technologies. “Derek is leading some of the most advanced RCM tech-driven solutions in the healthcare space right now. We anticipated a few additions and adjustments with the Invicta acquisition and our long term growth plan in mind. Derek’s abilities  in operations, data integration, process optimization and overall revenue cycle knowledge makes him a perfect addition to RSi’s executive team as COO,” said RSi’s Chief Executive Officer, Brent Rollins.

As RSI’S COO (and concurrent President of its Invicta Health Solutions division), Derek will oversee all operations teams and continue to develop revenue cycle proven process solutions. Prior to Invicta, Derek served in leadership positions for several recognizable brands. He served as the Chief Operating Officer for ParrishShaw for 13 years, through completion of its acquisition by Advanced Patient Advocacy (APA) in 2016. While at ParrishShaw, he focused on operationalizing strategy, daily operations, sales, and technology engineering. Subsequently, he was retained as Vice President, Recovery for APA after the acquisition. He serves on a variety of technology and revenue cycle organization think tanks, councils, and boards, infusing next level thought leadership and inspiring change “at the speed of imagination.” He holds both an M.B.A. and a B.B.A from University of Houston’s nationally renowned C.T. Bauer College of Business, where he completed the Stagner Sales Institute’s Program for Excellence in Selling.

Dustin Spencer
Dustin Spencer has served as RSi’s Vice President of Sales since joining the Company in 2016. With more than 15 years of RCM experience, Dustin has worked in every region of the country and is well-versed in each market’s unique challenges and opportunities. He leads RSi’s efforts to serve healthcare providers, helping to resolve their pressing needs and serving as their “best employee.” Before joining RSi, Dustin began  his career at AMCOL Systems, where he and current RSi CEO Brent Rollins were responsible for the company’s revenue growth. Dustin’s extensive sales experience and industry knowledge make him a valuable asset to the RSi team, and his dedication to client success is evident in the results he achieves.

Brent Rollins commented on the news, stating, “Dustin Spencer is an absolute technician when it comes to sales and client development. His relentless focus on delivering the absolute best solutions for our clients is a key component of RSi’s growth and success during his seven-year tenure, and I am more than excited  to name him Chief Sales Officer.”

Both appointments are effective immediately.

To learn more about RSi, visit rsircm.com. Members of the media may contact RSi’s Chief Brand Officer, Jennifer Evans, at (832) 693-9790 or [email protected] for more information and to secure interview access. For multi-media assets, visit the digital press kit link here.

About RSi
RSi is a “Best in KLAS” leading provider of revenue cycle services to the hospital and large physician practice market. The Company’s outsourcing solutions offer an attractive value proposition for hospitals looking to outsource portions of their revenue cycle operations while maintaining best in class patient financial experience. RSi provides a comprehensive range of outsourced services across the RCM continuum, from day one patient receivables to insurance follow up, that are designed to accelerate cash flow, improve operating efficiencies, and enhance profitability. For more information, visit www.rsircm.com.

SOURCE RSi

Lead investor BRV Capital Management is joined by Ignite Innovation

PHILADELPHIA, Feb. 28, 2023 — Verismo Therapeutics, a clinical-stage CAR T company, Penn spinout, and pioneer of the novel KIR-CAR platform technology, today announced a $7M pre-Series A financing round. The financing will support continued advancement of the clinical trial for SynKIR-110™, a first-in-class KIR-CAR T cell immunotherapy candidate for solid tumors, and pre-clinical development of SynKIR-310, a KIR-CAR T cell immunotherapy therapeutic for blood cancer.

The funding round was led by BRV Capital Management (BRV Capital), a renowned institutional investment firm known for investing in blue chip biopharmaceutical companies such as Arvelle Therapeutics BV and ST Pharmaceutical. Verismo will be BRV Capital’s newest early-stage investment in the life science space. Lead investor BRV Capital was joined by Ignite Innovation. With this $7M investment Verismo will have secured a total of $33M in financing since launching in 2020.

“We are excited to reach this milestone which will allow us to advance our current clinical trial, STAR-101, and to progress additional pipelines to clinic,” said Dr. Bryan Kim, Verismo’s chief executive officer. “We are thrilled to be partnered with world-class investors BRV Capital and Ignite. With their support we will be able to make a difference in the lives of patients with cancer. I look forward to working with BRV Capital and Ignite as our partners for our Series A round later this year.”

Verismo’s novel KIR-CAR platform is a dual-chain CAR T cell therapy that has been designed to maintain activity in challenging solid tumor environments.

“The transformative impact of CAR T cell therapy we have seen in blood cancers has been slow to come to solid tumors. We are thrilled to partner with the Verismo team to advance their KIR-CAR products and make a difference in the lives of patients with solid tumors,” stated Kwan Yoon, CIO of BRV Capital.

About the KIR-CAR Platform 

The KIR-CAR platform is a dual-chain CAR T cell therapy and has been shown in preclinical animal models to be capable of maintaining antitumor T cell activity even in challenging solid tumor environments. DAP12 acting as a novel costimulatory molecule for T cells, aids additional T cell stimulating pathways, further sustaining chimeric receptor expression and improving KIR-CAR T cell persistence. This continued T cell function and persistence can lead to ongoing regression of solid tumors in preclinical models, including those refractory to traditional CAR T cell therapies. Furthermore, the KIR-CAR platform can be combined with many additional emerging technologies, such as in vivo gene engineering, advanced cell manufacturing and reprogramming, combinational therapies, and even allogeneic cellular therapies to provide the next-generation multimodal targeted immunotherapy for patients in need.

About Verismo Therapeutics

Verismo Therapeutics is a pioneer in dual-chain KIR-CAR technology, on track to bring its first asset into first-in-human clinical trials in 2023. Verismo is the only company developing the KIR-CAR platform, a modified NK-like receptor designed to improve persistence and efficacy against aggressive solid tumors. The KIR-CAR platform technology was developed specifically for advanced solid tumors, an area of high unmet medical need. For more information, visit: www.verismotherapeutics.com 

About BRV Capital

BRV Capital Management (BRV Capital) is a tech-focused growth equity arm of BlueRun Ventures, with highly localized presence in Asia. BRV Capital helps to create unique long-term growth by backing category winners in their respective industries and maximizing their potential through leveraging over 20 years of deep industry insight and global expertise in applying technological innovations. 

Founded in 1998, BlueRun Ventures has identified and led a number of iconic technology investments as the first institutional investor, including PayPal (PYPL), Waze (GOOG), Coupa (COUP), Kabbage (AMEX), Topsy (AAPL), and Chomp (AAPL). BRV Capital in parallel focuses on technology-powered growth opportunities in Asia, and its current select investments include EcoPro Materials (leading manufacturer of hi-nickel precursors for cathode), LINE MAN Wongnai (top O2O platform in Thailand), and Green Labs (leading agricultural technology company pioneering digitalization of the entire agriculture value chain). BRV Capital closed its third Asia-focused fund in late 2021 and will continue to focus on cross-border value creation for its overseas investments. 

Media Contact:
Jennifer Moritz
Zer0 to 5ive
[email protected]
917-748-4006

SOURCE Verismo Therapeutics

SHANGHAI, Feb. 28, 2023 — Oricell Therapeutics Co., Ltd (“Oricell” or “the Company”), a China-based innovative pharmaceutical company committed to the development of tumor cellular immunotherapeutics, today announced the close of a $45M Series B1 investment round after the completion of a $125M Series B fund-raise in July 2022. The round was led by premier global industry investors RTW Investments, LP (“RTW”) and Qatar Investment Authority (“QIA”), with participation from existing investors, including Qiming Venture Partners and C&D Emerging Industry Equity Investment. The new injection of capital will be utilized primarily to support the company’s core product clinical development in the U.S.

Oricell Chairman and CEO Helen Yang said, “We are thrilled with the momentum our team has built over the last several months and look forward to using this funding to further expand our platform and research. This round reflects our investors’ recognition of Oricell’s ongoing growth and the development of our robust pipeline of ground-breaking therapeutics. We look forward to continuing to help improving the lives of patients in need.”

Over the past year, Oricell’s cell therapy pipeline and drug discovery platform have seen tremendous growth. Since the debut of Oricell’s first key product Ori-C101 at the 2021 American Society of Clinical Oncology (“ASCO”) Annual Meeting, the Company has been overcoming many difficulties and made unremitting efforts to achieve all the expected milestones, to attract widespread attention among investors worldwide with its increased presence in the global new drug market during 2022 and into 2023. The Company launched its red-chip restructuring in the fourth quarter of last year in parallel with series B round of financing. Ori-C101 received IND clearance from NMPA in September 2022. At 2022 ASCO annual meeting and European Hematology Association (“EHA”) 2022 congress, Oricell presented the clinical research data of its proprietary CAR-T cell therapy targeting GPRC5D (OriCAR-017) for the treatment of Relapsed/Refractory Multiple Myeloma (“RRMM”). The oral presentation was very well received; subsequently, the product was granted an orphan drug designation by US FDA. Its follow-up data was published in Lancet Haematology on January 31 2023.

With this new funding, the Company is now well-positioned to expand its products to the U.S., specifically OriCAR-017, a GPRC5D CAR-T therapeutic that treats relapsed and refractory multiple myeloma, which is a product currently on the stage of IND enabling both in the US and China.

Roderick Wong, M.D., Managing Partner and Chief Investment Officer of RTW, said “RTW continues to focus on advanced tumor cellular immunotherapeutics. As a long-term investor in the primary and secondary markets, we have been closely following Oricell and have been duly impressed by its milestone achievements over the past year. Today, we feel honored to have established a partnership with the company through the Series B1 financing. With our years of experience working in the U.S. market, we look forward to empowering Oricell and its team as they continue to provide cancer patients across the world with better therapies and create more value for the community.”

About RTW Investment

Headquartered in New York, with offices in Shanghai and London, RTW Investments, LP is a global life sciences investment and innovation firm that focuses on identifying transformational and disruptive innovations across the biopharmaceutical and medical technologies sectors. As a leading partner of industry and academia, RTW combines deep scientific expertise with a solution-oriented investment approach to advance emerging medical therapies by building and supporting the companies and/or academics developing them. For further information about RTW, please visit www.rtwfunds.com

About Qatar Investment Authority

Qatar Investment Authority (“QIA”) is the sovereign wealth fund of the State of Qatar. QIA was founded in 2005 to invest and manage the state reserve funds. QIA is among the largest and most active sovereign wealth funds globally. QIA invests across a wide range of asset classes and regions as well as in partnership with leading institutions around the world to build a global and diversified investment portfolio with a long-term perspective that can deliver sustainable returns and contribute to the prosperity of the State of Qatar.

About Qiming Venture Partners

Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Hong Kong, Seattle, Boston and the San Francisco Bay Area. Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.4 billion in capital raised. Since our establishment, we have invested in outstanding companies in the Technology and Consumer (T&C) and Healthcare industries at the early and growth stages.

About C&D Emerging Industry Equity Investment

Xiamen C&D Emerging Industry Equity Investment Co., Ltd is a professional equity asset management company affliated to Xiamen C&D Corporation Limited, focusing on new economy sectors including healthcare, advanced manufacturing and innovative consumption.
The subsidiary manages a fund of RMB18 billion to help more emerging enterprises flourish.

About Oricell Therapeutics

Oricell Therapeutics was founded in 2015 as an innovative biopharmaceutical company in China. It is committed to developing tumor cellular immunotherapeutics through its own innovative technology platforms. Oricell has applied for over 100 invention patents (including 6 PCT), with 10 already granted.

Oricell Therapeutics’ mission is to develop affordable drugs for unmet clinical needs worldwide. It has built several proprietary technology platforms based on tumor cell immunotherapy, including Ori^®Ab and Ori^®CAR. Oricell Therapeutics has made several  achievements to overcome challenges to treat solid tumors including among others antibody engineering construction technology, tumor immune microenvironment regulation, T cell infiltration and killing ability.

With over 10 cellular projects in its pipeline, Oricell Therapeutics is well positioned to develop novel cell therapies to treat liquid and solid tumors. Oricell focuses on indications with a wide range of therapeutic needs, including liver, ovarian, gastric, cervical and non-small cell lung cancer, as well as multiple myeloma. With the corporate goal of becoming an innovation-driven global leader in the creation of new tumor immunotherapeutics, Oricell Therapeutics has established an international product development and operations management team, GMP-compliant manufacturing facilities and quality testing and management systems. Oricell Therapeutics is continuing to explore and develop therapeutically effective, well differentiated and affordable drugs through its own innovative technology platforms. The company seeks to create new opportunities for the development of innovative China-made drugs. Oricell raised over $120 million USD in series B financing in July 2022.

SOURCE Oricell Therapeutics

New funds will drive company growth among current and new locations, developing Salesforce managed services, DocuSign and Digital Product Development offerings with a representative workforce

FRESNO, Calif., Feb. 28, 2023 — Today, Bitwise Industries (www.bitwiseindustries.com) announces an $80M investment led by Kapor Center and Motley Fool with participation from the Growth Equity business within Goldman Sachs Asset Management and Citibank. This latest raise from notable institutions will drive economic transformation in the cities Bitwise serves through its Salesforce managed services, DocuSign and Digital Product Development offerings. In addition, Bitwise is announcing its expansion to Chicago’s South Side. The Comer Science & Education Foundation has been a critical partner in this expansion resulting in meaningful connections that will support Bitwise’s operations and mission. This approach has delivered business value in the form of digital transformation nationwide resulting in unprecedented company growth despite global economic instability.

“This latest raise, led by a group of distinguished investors, acknowledges the role technology plays in driving economic impact in previously underserved communities, validates our model and makes it possible for us to roll out our proven approach into other parts of the country,” said Jake Soberal, Bitwise Industries co-CEO and co-founder. “Bitwise has been an agent of transformation for cities and people alike, delivering unmatched results for the tech industry, businesses and the communities we serve.”

Bitwise Industries has helped support the creation of over 15,000 jobs in just one of its cities. This accounts for over a-quarter-of-a-billion-dollars in aggregated wages, mostly going to women and people of color, and the growth of the city’s GDP by over 1% per year. Bitwise Industries has also renovated over 1M square feet in previously vacant, blighted spaces within underserved downtown areas across the country, creating vibrant spaces for innovation and commerce. This has supported the skilling of over 10,000 individuals, from underestimated communities who otherwise might not have considered the tech industry as a place for them. Eighty percent of those have gone on to technical employment after completion of the program.

“Goldman Sachs believes that Bitwise has shown a strong track record in training and upskilling talent to successfully find placement in the highly competitive technology labor market,” said Hillel Moerman, a partner in the Growth Equity business within Goldman Sachs Asset Management. “Filling the talent gaps is not only pertinent for the sector, but also key to creating economic opportunity for those in underserved communities and we are excited to support Bitwise in its continued growth.”

The investment from Goldman Sachs Asset Management is part of the firm’s One Million Black Women initiative, which seeks to help narrow opportunity gaps facing Black women across key pillars including, Job Creation and Workforce Advancement.

“The Kapor Center, as a lead investor in this round, and Kapor Capital, as a continuing investor, recognize Bitwise’s major accomplishments in closing gaps of participation in the tech ecosystem and transforming the economies of underestimated cities across the nation, now expanding to the South Side of Chicago,” said Bitwise Board member, co-Chair of the Kapor Center, and founding Partner of Kapor Capital, Mitch Kapor.

A 6K-square-foot, South Chicago Avenue building will serve as a temporary home to Bitwise Industries’ local operation while a permanent space is finalized. By leveraging the existing facility, the company will renovate the space to quickly deploy its community-focused investments. The building, located in Chicago’s Greater Grand Crossing community, will operate in partnership with nearby Comer Education Campus, which consists of the Gary Comer Youth Center, a college prep high school and middle school, an urban farm, and an active affordable housing initiative.

“Bitwise has a track record of removing barriers that have prevented talented individuals from securing quality jobs in one of the fastest growing industries in the world,” said Greg Mooney, President, Comer Science & Education Foundation. “These are high-growth, high-wage jobs that enable companies, schools, and local residents to succeed in the digital economy. We are excited to be partnering with national leaders, such as Bitwise Industries, to help Chicago thrive.”

The new influx of capital will allow Bitwise Industries to continue its work creating spaces that unite communities, while spurring economic and business growth in underserved communities. This work is possible through the investment of mission aligned partners such as Comer, P33 and more. For more information about Bitwise Industries, please visit our website at: www.bitwiseindustries.com   

About Bitwise Industries
Bitwise Industries, a transformative technology company, creates scalable digital solutions, offering services in Salesforce, DocuSign, and Digital Product Development—using a representative workforce in underestimated cities. Bitwise is a nationwide catalyst towards economic transformation, has a proven record of year-over-year growth and has been nationally recognized for its work. Bitwise has pioneered a movement in the industry regarding diversity, equity and inclusion reflected in the faces, lives, and humans in those we employ, those in which we partner, and communities we mean to lift up. To learn more about Bitwise Industries, check out www.bitwiseindustries.com.

About Goldman Sachs Asset Management Growth Equity
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of September 30, 2022. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Since 2003 the Growth Equity business within Goldman Sachs Asset Management comprising more than 75 individuals has invested over $13 billion in companies led by visionary founders and CEOs. We focus exclusively on investments in growth stage and technology-driven companies spanning multiple industries, including enterprise technology, financial technology, consumer and healthcare. Follow us on LinkedIn.

About Goldman Sachs’ One Million Black Women
In partnership with Black-women-led organizations, financial institutions and other partners, Goldman Sachs has committed $10 billion in direct investment capital and $100 million in philanthropic capital over the next decade to address the dual disproportionate gender and racial biases that Black women have faced for generations, which have only been exacerbated by the pandemic. The initiative, One Million Black Women, is named for and guided by the goal of impacting the lives of at least one million Black women by 2030. Goldman Sachs’ research Black Womenomics has shown that sustained investments in Black women will catalyze economic growth, making for not only a fairer, but also a richer society.

SOURCE Bitwise Industries

Celebrating its 25th anniversary, design consultancy expands service offerings and welcomes a new board of directors

INDIANAPOLIS, Feb. 28, 2023 — Studio Science, a leading design and innovation consultancy, today announces a growth capital investment from Inoca Capital Partners. Studio Science will use the funds to support the expansion of its core design and consulting practice areas and the build-out of the company’s growing e-commerce experience business.

With continued participation from existing investors, the investment will allow Studio Science to grow new lines of business focused on designing, implementing, and supporting Salesforce Commerce Cloud experiences for businesses. These commerce-related service lines have grown by 200% over the past two years.

“Studio Science is defining what a modern, people-centric design consulting partner will be in this new era dominated by experiences,” said Chris Sheffert, Managing Director and Founder Inoca Capital Partners. “The company’s unique combination of design and technology – along with their new services focused on Salesforce Commerce Cloud – have the potential to provide outsized value to businesses and capture a large piece of the multibillion-dollar creative/digital services and technology system integrator markets.”

The growth capital follows a period of change and acceleration for Studio Science. Over the past three years, the consultancy has more than doubled annual revenue and shifted a large portion of that revenue into the global enterprise, focusing on businesses in the Fortune 500.

“I have partnered with Studio Science across three companies: Salesforce, Genesys, and now Alteryx,” said Keith Pearce, CMO, Alteryx. “Each time, they have delivered world-class experiences to our customers, employees, and partners.”

Now with employees in 10 states, the company will retain its Monument Circle headquarters in downtown Indianapolis. “Indianapolis has been our home and the center of our growth for 25 years,” said Steve Pruden, CEO, Studio Science. “We will continue to harness the creative and technical talent in the city and are proud to call Indianapolis our headquarters.”

With the growth capital, Studio Science has a new board of directors to provide expertise and guidance as the company grows. It is comprised of members of ownership plus independent directors:

• Rich Lyons, former founder and CEO of Lyons Consulting Group, the foremost leader in digital customer experience. He led the company’s strategy and vision and worked closely with customers. In 2017, Lyons Consulting Group was acquired by Capgemini. Most recently, Mr. Lyons founded the MBA program at The Lyons School of Transformational Business at Wright Graduate University, focusing on leading and managing business’s greatest asset, its people.
• Dan Rudolph, Operating Advisor, Inoca Capital. Mr. Rudolph is a 20 year Silicon Valley software executive, former Chief Operating Officer of Stanford Business School and has worked in private equity as an operating partner helping to drive growth for industry-leading companies for the past ten years. Previously, Dan was President and Chief Executive Officer of Imparto, a Business-to-Business e marketing company that he sold in late 1999. Earlier, he spent four years at Intuit, where he led the marketing team that acquired the first million QuickBooks customers.
• Chris Sheffert, Managing Director and Founder of Inoca Capital.

Additional board members will be announced in the coming months. Find the full announcement:
https://studioscience.com/funding-announcement/ 

Media Contact:
Lindsey Groepper
[email protected]

About Studio Science
Founded 25 years ago by Kristian Andersen, Studio Science is a modern design consultancy that works with industry-defining enterprise and technology companies to solve business challenges through design. We help our clients achieve remarkable growth by identifying opportunities to design better brand experiences, deliver better product experiences, and provide better e-commerce experiences. From brand design to visual communication, digital product design to e-commerce solutions, we are a consultative, creative partner and an extension of our client’s team. More at https://studioscience.com/.

SOURCE Studio Science

SAN DIEGO, Feb. 28, 2023 — Term Labs, Inc., a blockchain R&D company, today announced it has raised a $2.5 million seed round led by Electric Capital with participation from Coinbase Ventures, Circle Ventures, Robot Ventures, MEXC Ventures, and with angel investment from DeFi founders from Aura, Balancer, Hashlow and Llama.

The funds raised will be used to develop Term Finance (termfinance.io), a decentralized lending protocol that utilizes a unique auction model to support scalable fixed-rate/fixed-term lending, a first in DeFi. Term Finance will bring transparent, low-cost, and crypto-native solutions for borrowers and lenders at an institutional scale when it launches on Ethereum.

Centralized crypto lenders providing fixed rate loans to institutions and other large crypto investors have mostly shut down and existing DeFi protocols have not created scalable models to serve these users. Term Labs is developing solutions to fill the market gap.

“We are thrilled to have such strong support from our partners,” said Dion Chu, CEO of Term Labs. “This funding allows us to develop a decentralized solution for the crypto lending market that saw over $80 billion in originations a quarter at its peak. Recent failures of centralized institutions in the crypto lending market highlights an urgent need for the market to move towards scalable on-chain solutions.”

Ken Deeter, partner at Electric Capital, added, “We believe Term Labs has the potential to bring a much-needed solution to the market with its decentralized lending protocol. Term’s unique auction model originates loans at scale without slippage, bid-offer spread or other hidden transaction costs seen in other variable and fixed rate lending protocols.”

About Term Labs

Term Labs is a blockchain research and development company founded by a team with deep traditional finance, big tech, and decentralized finance experience. Term Labs is dedicated to the development of robust, transparent, and scalable fixed-rate lending on blockchains.

Media Contact

Billy Welch
[email protected]

SOURCE Term Labs

LOS ANGELES, Feb. 28, 2023 — Caylent, an AWS Premier Service Partner, previously received a $16 million growth equity investment from tech-focused private equity firm East Los Capital in June of 2021. The majority investment was premised on East Los Capital’s investment thesis of strong growth in the cloud services market driven by continued adoption worldwide as companies move from cloud migration to cloud native solutions. East Los Capital is pleased to announce that it has exited its position in Caylent following a majority growth investment from Gryphon Investors.

At the time of the initial investment, East Los Capital partnered with Stephen Garden, Executive Chairman of Caylent, to expand the executive team and spur Caylent’s growth. Caylent’s Founder and CEO, JP La Torre, said “The East Los Capital investment came at a critical inflection point of growth and has allowed Caylent to significantly expand our partnership with AWS and diversify our services portfolio into areas such as data analytics, machine learning, and cloud application development to keep up with demand.”

“We partnered with East Los Capital on this investment due to a shared belief in the power of cloud services and how the engineering talent throughout Latin America can accelerate transformative outcomes for customers,” said Garden. “With East Los Capital’s investment, Caylent has emerged as the fastest growing and most capable firm in the AWS partner ecosystem and perfectly positioned for the next stage in its journey.”

Caylent’s growth and list of accomplishments during East Los Capital’s investment period were substantial. Over the 18-month holding period, the company achieved the following milestones:

• Caylent named AWS Rising Star Partner of the Year in 2021
• Reported growth of 300% year-over-year and the addition of 50 employees per quarter as of Q3’21
• Obtained AWS Premier Tier Services Partner status in 2022
• Received AWS Innovation Partner of the Year Award for North America in 2022
• Achieved Launch Partner status for AWS Graviton, AWS Control Tower, Amazon EKS and Amazon Opensearch Service Delivery Designations
• Expanded into Canada as its third global delivery region

East Los Capital Partner, Anthony Valencia, CFA, remarked that in his nearly two decades of investing in, and researching the major cloud hyperscalers (Amazon, Google & Microsoft), “It is extremely rare to see a service provider outpacing the growth of the overall industry in the manner that Caylent has done. We are extremely proud of what Caylent has achieved and wish them continued success”.

Caylent was created as a cloud native company dedicated to providing cloud migration and cloud native software development solutions for clients. Caylent was an early contributor to the development of container orchestration software, which has become the solution of choice for mature cloud computing users. Over time, the company has broadened its offerings to cover a wide range of cloud native solutions. Caylent fills the expertise gap that many companies face when they aim to capture the advantages of cloud computing, but do not have in-house cloud specialists at their disposal.

About Caylent

Caylent is a cloud native services company that helps organizations, from high growth startups to Fortune 500 enterprises, bring the best out of their people and technology using AWS. Caylent believes in a software-defined world where technology is at the core of every business. To thrive in this paradigm, organizations need to empower people and processes through technology. Caylent is uniquely positioned to fuel that engine of innovation by bringing ambitious ideas to life for its customers. Caylent works with customers to build, scale, and optimize sophisticated cloud solutions using deep subject matter expertise to deliver world class outcomes through an agile co-delivery model. Caylent’s core practice areas include Migration, Application Modernization, Data Analytics & Machine Learning, DevOps, Security & Compliance, and Cloud Native Application Development.

Read more about Caylent at: www.caylent.com

About East Los Capital

East Los Capital is a tech-enabled lower middle market private equity firm making the world more productive through technology. East Los Capital is operationally focused, research-driven, and technology-enabled. The firm invests in successful companies where capital, talent, and analytics can drive the most value. East Los Capital’s deep bench of senior technology professionals allow it to identify areas in which a target investment can be improved operationally with a focus on its technology footprint resulting in accelerated revenue growth. East Los Capital focuses on consumer, healthcare, internet, media, services, and software.

Co-founders Emanuel Pleitez and Anthony Valencia have extensive experience in both the public and private markets and leverage this background when identifying prospective investment candidates with the potential to deliver growth in excess of their respective sectors. The company’s senior technology professionals who can serve as Advisors/Operating Partners are a unique asset and include the CEOs of software and technology-enabled companies, investment professionals of major institutional private equity and venture capital firms, software engineers, and product managers. The extended team has experience at Google, Amazon, Microsoft, and other top-flight cloud and software companies such as Accenture, Disney, Facebook, GoDaddy, IBM, Intel, Symantec, VMware.

Current and exited portfolio companies of East Los Capitals’s Co-Founders include 66Degrees, Basepaws, Everyset, Finix, Glitzi, Nadine West, Pasture Bird, Sabio, and Zenhub. 

Read more about East Los Capital at www.eastloscap.com

For further information contact Sally Gao at: [email protected]

SOURCE East Los Capital

The investment provides Nalu Bio with the resources to expand aggressively and scale to meet global consumer and therapeutic market demand.

SAN FRANCISCO, Feb. 28, 2023 — Nalu Bio, a producer of chemistry-based, ultra-pure cannabinoids, today announced that it has raised a $12 million Series A funding round. The round was led by Intrinsic Capital Partners, with participation from Flybridge Capital Partners, Portfolia Active Aging & Longevity Fund, Bonaventure Equity, L37 Ventures, Golden Seeds, Sacramento Angels, Brown Angel Group, and Axial Venture. Nalu Bio will use the funds to accelerate growth and scale production of cannabinoids for consumer products and therapeutics. The funding follows on the heels of Nalu Bio’s breakthrough in the cost-effective synthesis of the minor cannabinoid THCV (non-psychoactive, not to be confused with THC).

“At Nalu Bio, we have created a platform that produces ultra-pure, cost-effective, non-hemp derived cannabinoids so that consumers and companies will have safer, more reliable products that improve everyday life,” said Caitlyn Krebs, Nalu Bio Co-Founder and CEO. “Intrinsic’s belief in our chemistry-based approach and their leadership investing in cannabinoids and life sciences make them the ideal partner for us. This investment allows us to aggressively expand the business world-wide, own the category and bring high quality cannabinoids to manufacturers who want cost-effective THC-free ingredients for their products.”

Since its founding in 2019, Nalu Bio has pioneered an approach to synthesizing cannabinoids utilizing organic, non-hemp inputs which are converted into the desired cannabinoid ingredient, without the stigma of the plant. The company’s flexible platform generates molecularly identical versions of naturally occurring cannabinoids for use in consumer products and therapeutics that are sustainable and completely free from contaminants found in hemp-extracted cannabinoids.

“We believe that chemistry-based production of cannabinoids will play a significant role in the evolution of the cannabinoid market, and we have spent years looking for the ideal investment opportunity. The team and the technology are top-notch and Nalu Bio is poised for large-scale commercial expansion and aggressive growth. We’re excited to partner with Nalu Bio,” said Howard Goodwin M.D., Managing Partner of Intrinsic Capital.

Nalu Bio is utilizing its patent-pending platform to launch a full suite of cannabinoid ingredients (e.g., CBD, THCV, CBN, CBC, CBG) while continuing to expand its scientific and commercial teams to meet global market demand.

About Nalu Bio

Nalu Bio is a biotech company creating a new category of chemistry-based cannabinoids for the consumer and pharmaceutical markets. Nalu Bio has developed a proprietary, flexible chemistry platform that is setting a new industry standard for purity, quality, and sustainability. Nalu Bio’s proprietary approach creates identical batches of any known cannabinoid, setting the standards for consistency and quality, because it removes the risk of contamination from pesticides, heavy metals, and THC inherent in hemp extraction. Our unique, scalable platform has the ability to keep pace with anticipated market expansion, and will reliably deliver high quality and widely-accessible cannabinoids to global consumer and pharmaceutical markets.

Intrinsic Capital Partners

Intrinsic Capital Partners is a Pennsylvania-based investment firm focused on life science and technology businesses within the legal cannabis and hemp industries. The Intrinsic team brings institutional investment discipline and world-class operating experience to build and scale industry-leading companies that address unmet needs across the supply chain. Intrinsic Capital Partners employs an operator-centric investment model to create a diverse portfolio of leading companies within the emerging cannabis and hemp industries.

SOURCE Nalu Bio, Inc.

SAN DIEGO, Feb. 28, 2023 — BetterNight, a leading provider of comprehensive sleep care through its virtual care platform, announced today $33 million in growth funding led by NewSpring. The financing round includes participation from existing investors HCAP Partners and Hamilton Lane (NASDAQ:HLNE) via its Impact Fund II and other accounts managed by the firm.

“With awareness surrounding the health complications caused by sleep disorders rising, the sleep care industry is growing quickly and is ripe for disruption. BetterNight’s comprehensive virtual care sleep solution is perfectly positioned to offer patients, providers, and payers a superior sleep care experience,” said NewSpring Partner Mike Kaplan. “The data shows that BetterNight is best in class in enabling patients to adhere to sleep therapy.”

BetterNight provides a full continuum of care for patients with sleep disorders, from consultation to diagnosis to treatment to long-term coaching. The company is focused on addressing obstructive sleep apnea (OSA) and insomnia to boost clinical outcomes, lower healthcare costs, and improve patient lives. BetterNight partners with physicians, health systems, clinics, and health plans across the United States. All services are provided digitally in the patient’s home.

BetterNight will use the proceeds from this transaction to continue its nationwide expansion through partnerships with physician practices, health systems, and insurers and to accelerate the adoption and growth of its value-based sleep solution to employers and health plans. The company will continue to invest in technology to support patient engagement and remote patient monitoring.

“Untreated sleep apnea can dramatically impair a patient’s quality of life and put them at risk for numerous medical conditions such as hypertension and heart disease. Our goal at BetterNight is to provide a superior sleep care platform that empowers patients to take control of their health by getting a better night’s sleep,” said BetterNight CEO Dave French. “The NewSpring team has a strong track record of building successful, scalable healthcare companies, and we believe they are the perfect partner to help power our company’s next stage of growth.”

About BetterNight

BetterNight, headquartered in San Diego, transforms sleep health with its virtual sleep care platform. Results include lower costs of care, superior adherence, improved patient satisfaction, and higher health outcomes. The company’s software platforms empower sleep management by collecting actionable data from therapy devices to drive better clinical decisions. To learn more, visit betternight.com or follow BetterNight on LinkedIn: https://www.linkedin.com/company/betternight

About NewSpring

NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages approximately $3 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Having invested in over 200 companies, NewSpring brings a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. To learn more, visit newspringcapital.com.

About HCAP Partners

HCAP Partners is a diversely owned private equity firm specializing in providing mezzanine debt and private equity for underserved, lower-middle market companies throughout California and the Western United States. The firm seeks to invest $3 million to $25 million in established businesses generating between $10 million and $100 million in revenues in the healthcare, software, services, and manufacturing industries. HCAP Partners has invested in over 60 companies since its founding and, through ongoing, active engagement with portfolio companies, provides value-added resources to help optimize performance and increase enterprise value. The firm has been recognized as an ImpactAssets 50 fund nine years running and, through its Gainful Jobs Approach™, works to facilitate a positive impact on underserved businesses, their employees, and their communities through active portfolio engagement. For more information, please visit http://www.hcap.com/.

About Hamilton Lane:

Hamilton Lane (NASDAQ: HLNE) is one of the largest private markets investment firms globally, providing innovative solutions to institutional and private wealth investors around the world. Dedicated exclusively to private markets investing for more than 30 years, the firm currently employs nearly 600 professionals operating in offices throughout North America, Europe, Asia Pacific, and the Middle East. Hamilton Lane has approximately $832 billion in assets under management and supervision, composed of nearly $108 billion in discretionary assets and over $724 billion in non-discretionary assets, as of December 31, 2022. Hamilton Lane specializes in building flexible investment programs that provide clients access to the full spectrum of private markets strategies, sectors, and geographies. For more information, please visit www.hamiltonlane.com or follow Hamilton Lane on LinkedIn: https://www.linkedin.com/company/hamilton-lane/.

SOURCE BetterNight