Denver-based business secures Series A Funding through partnerships with Iron Gate Capital and Kozo Keikaku Engineering.
DENVER, Feb. 2, 2023 — KoreLock, an emerging IoT Smart Lock technology company, is pleased to announce funding to support the development and expansion of its Smart Lock technology and software platform. Private equity firm Iron Gate Capital and engineering firm Kozo Keikaku Engineering, Inc. have invested in the company alongside management.
KoreLock serves a vast market of lock manufacturers, specialty lock brands, and software companies looking to convert their existing offline locks into cloud-connected Smart Locks.
“KoreLock addresses the market need for OEM Smart Lock technology with wireless integration to access control software services,” said Grant Walter, KoreLock President and CEO. “Traditional lock companies have tried to develop their own Smart Locks but abandoned these efforts lacking the capabilities to do it themselves.”
KoreLock specializes in embedded printed circuit board solutions that help lock manufacturers overcome the complexities of developing connected Smart Locks, reduce costs, and shorten their overall time-to-market.
“KoreLock offers a unique access control solution for the lock manufacturing industry that fits well with our focus on early-growth stage B2B technology companies,” said AJ Dye, Partner, Iron Gate Capital.
KoreLock’s patent-protected technology is embedded in over 50,000 locking devices in 65+ countries and has been tested and proven for over a decade.
“KoreLock is well-positioned for accelerated growth, anchored by partnerships with industry-leading lock brands worldwide,” added Walter. “We are investing meaningfully to expand our team, solutions, and customers.”
About KoreLock KoreLock, Inc. is an IoT technology company that provides turnkey embedded Smart Lock solutions that enable manufacturers of door locks or access control hardware to build and sell connected locking devices. Korelock, Inc. is a privately held company based in Denver, Colorado.
About Iron Gate Capital Iron Gate Capital, LLC is a nationally recognized deal-by-deal private equity firm investing in market leading “early growth” technology companies on behalf of over 60 families. Iron Gate Capital is based in Boulder, Colorado.
About Kozo Keikaku Engineering, Inc. (KKE) KKE is a professional design and engineering firm that acts as a bridge between the academic and business worlds. KKE strives to solve various issues and challenges that society faces, utilizing its engineering expertise acquired through knowledge exchanges in diverse fields. KKE is based in Tokyo, Japan.
Contact: Grant Walter, President and CEO, KoreLock, Inc. [email protected], 303.681.5785
Nearly 50 million Americans lack a credit score, according to the Consumer Financial Protection Bureau, a problem that disproportionately impacts those newly arrived to the country and the emerging Gen Z. Without established credit, these consumers are often unable to access basic financial services, from credit cards to car loans.
Upwardli’s founding team of Aaron Gregory and Danielle Hill saw this problem firsthand as early employees at Remitly, the Seattle-based international money transfer company that serves a primarily immigrant customer base.
“The lack of established credit created barriers to accessing needed financial services,” said Aaron Gregory, Upwardli’s co-founder and CEO. “For credit-based products, it’s a total mess. Our credit system creates a chicken-and-egg problem that exacerbates these barriers and penalizes those just starting their financial life.”
According to the company, consumers frequently experience a cycle of painful credit rejections that leaves without a clear path to reach their financial goals. Upwardli aims to change this. “We’re an onramp into the credit mainstream for millions of consumers that are traditionally overlooked and undervalued,” said Gregory.
The company’s next-generation credit building solution enables customers without a social security number or a U.S. credit file to quickly establish and build their U.S. credit score, progressively unlocking access to a range of financial products. Offered in partnership with Cross River Bank and incorporating a suite of banking services, Upwardli’s Credit Builder Plus product launched in November 2022 and is now available at www.upwardli.com.
The company partners with financial institutions to offer its credit building solutions as an alternative to a harsh credit rejection when an applicant fails to qualify due to a lack of credit history. Upwardli helps consumers build their credit into an acceptable range and then passes the customer back to the lending institution, ready for approval.
With this funding, Upwardli will hire additional staff, add features to boost credit scores faster, and expand its partnerships with financial institutions to embed its credit builder solutions into their own product experiences. Catherine Williams of Dundee Venture Capital and Danielle Hill, the company’s co-founder and COO, joined the Upwardli Board of Directors, a rare example of a majority female Board in the financial services industry, highlighting the company’s commitment to a diverse and inclusive company culture.
“Upwardli is an excellent example of an innovative fintech company leveraging data and technology to deliver much-needed financial services for underserved populations,” said Catherine Williams, Principal at Dundee Venture Capital. “Their inclusive credit builder product is already unlocking access to credit for creditworthy individuals across the country. Paired with their unique data and product capabilities, Upwardli is poised to deliver innovative credit products to customer segments where existing solutions are unavailable or prohibitively expensive.”
About Upwardli
Upwardli is a financial services company making credit fair and accessible to the 50 million Americans, particularly new immigrants and Gen Z, who are shut out of the U.S. credit system. Founded in 2021, Upwardli is backed by industry-leading investors, including Dundee Venture Capital, Techstars, J4 Ventures, Cascade Seed Fund, Temerity Capital Partners and Avesta Fund. The company has locations in Milwaukee and Seattle. For more information visit www.upwardli.com.
About Dundee Venture Capital
Dundee Venture Capital was formed in 2010 to lead seed rounds in regions and entrepreneurs historically underserved by venture capital. Dundee has more than $90M under management across three funds and has invested in more than 50 world-class founding teams in 20 different cities. For more information visit dundeevc.com.
AMSTERDAM, Feb. 2, 2023 — GNX, a leading provider of global internet and private data connectivity solutions with offices in Amsterdam, New York and Manilla, announced today that it has secured growth funding from Lexar Partners, a technology focused Dutch investment firm. The funding will be used to further accelerate GNX’s expansion in the growing dynamic global connectivity market.
“We are thrilled to announce Lexar Partners as our strategic partner and lead investor,” said Rutger Bevaart, CEO and co-founder of GNX. “As global enterprises increasingly embrace digital transformation, GNX is best positioned to support their efforts with our internet, private, and cloud connectivity solutions. The growth funding and expertise that Lexar brings will be key as GNX scales and expands its global reach.”
“Having Lexar Partners as our lead investor will allow us to accelerate the development and roll-out of our digital platform called LARA®, which will be a driving force for GNX in the growing market of global internet access, private connectivity and cloud integration services” said Rick Mur, CTO and co-founder of GNX.
“GNX is at the forefront of digitizing the global connectivity market,” said Sander van Woerden, founding partner of Lexar Partners. “Their expert team has a proven track record of delivering high-quality solutions to customers and we are thrilled to be a part of their exciting growth story.”
With this funding, GNX plans to increase investment in research and development, to further improve its products and services and expand its sales and marketing efforts to reach more customers globally.
About GNX
GNX is a leading provider of global connectivity solutions and is developing and operating LARA®, the data platform that enables customers to manage their global connectivity needs via a unique do-it-yourself approach. GNX is dedicated to empower global enterprises with innovative and reliable connectivity solutions to drive their digital transformation. With a commitment to excellence and customer satisfaction, GNX strives to be the leading provider of internet, private, and cloud connectivity services in the world.
Lexar Partners is an investment firm based in Laren, the Netherlands that provides growth capital to leading innovative software, technology and e-commerce businesses. Lexar Partners was formed in 2022 by Max van de Blaak and Sander van Woerden, who each have over 15 years of experience in entrepreneurship and the investment industry. Since inception, Lexar Partners has formed partnerships with businesses that are involved in the technology, e-commerce and digital transformation of mental healthcare, education and fitness industries.
LEXINGTON, Ky., Feb. 2, 2023 — SalesRiver, an enterprise sales enablement platform for distributed sales teams, announced today that it has secured a $3.95mm Series A investment led by Mucker Capital.
SalesRiver is a sales enablement platform serving enterprises spanning a broad portfolio of industries including all forms of insurance, mortgage, financial services, real estate, and home services. This first-of-its-kind platform expands organizational capabilities in four areas of the sales process: customer acquisition, lead and call routing, performance insights, and sales team management. Most noteworthy are SalesRiver’s intelligent lead and call routing based on flexible criteria, granular sales performance visibility within team hierarchies, and management of funding allocations throughout those hierarchies to improve marketing ROI at scale. All of this functionality is housed within a private-labeled platform branded uniquely to each customer.
Leadrilla, which was founded in 2019 and currently serves over 20,000 licensed insurance agents in the US, is powered by the SalesRiver platform. As Leadrilla continues to serve new and existing customers, SalesRiver is bringing its all-in-one software solution to enterprises around the globe.
“We are thrilled to have Mucker Capital on board,” said Koby Hastings, Founder & CEO of SalesRiver. “Their experience and knowledge in the enterprise software space will be invaluable as we continue on our mission of helping organizations improve their sales performance at scale. This capital will be fuel to accelerate growth at SalesRiver – expanding our product offerings for new and existing customers, as well as growing our team of experts in engineering, sales, and marketing.”
“We’re excited to partner with SalesRiver and help them scale their business. Their comprehensive platform is a game-changer for organizations with distributed sales teams, offering full visibility into performance metrics, advanced lead routing capabilities, and improved marketing ROI,” said Omar Hamoui, Partner at Mucker Capital who has joined the board of directors at SalesRiver.
About SalesRiver As an enterprise sales enablement platform for distributed sales teams of any industry, SalesRiver provides keys to success for growth-oriented sales organizations. SalesRiver’s platform brings data-driven insights plainly into focus at each stage of the sales process, improving companywide performance at scale beginning with each salesperson. SalesRiver is headquartered in Lexington, KY. For more information visit SalesRiver.com.
GAITHERSBURG, Md., Feb. 2, 2023 — Employment and labor law compliance technology company VirgilHR announced the closing of $1.5M in pre-seed funding with backing from Squadra Ventures, Techstars, SHRMLabs, and TEDCO. Through its web portal and integrated smart chatbot, VirgilHR surfaces the right information and regulatory requirements for HR professionals to make informed employment and labor law decisions in the moment. VirgilHR serves as a “real-time legal guide by their side,” enabling HR directors and managers to make compliant decisions with confidence, quickly, accurately, and with research-backed credibility.
With over a decade of experience leading Human Resources at companies ranging from high-growth tech startups to public companies, CEO Jocelyn King realized the massive opportunity to simplify the employment and labor law landscape for HR practitioners.
“As an HR professional, there is nothing more frustrating than Googling requirements and never feeling like you have enough information to make the right decision. I would watch my team spend hours doing this and hear the same frustration from colleagues and peers over and over again,” said King.
“Complying with thousands of ever-changing federal, state, and local employment and labor laws has been an impossible task — but it doesn’t have to be anymore. HR teams need to be in the know, without burdened by endless research. With VirgilHR, we help HR teams automate this process, reduce the need for research, and, in many cases, the need to speak with an attorney.”
VirgilHR has been purpose-built to simplify the employment and labor law decision-making process so that HR leaders feel confident and supported on a day-to-day basis. HR teams engage with VirgilHR’s automated chatbot to acquire fast, prescriptive employment and labor law guidance to make compliant decisions with ease. No matter the level of complexity.
The platform already includes compliance guidance modules and content around Leave, Wage and Hour, EEO, ADA, and Pay Equity, with upcoming modules including Job and Worker Classification, New Hire Documentation, Offer Letters, and Non-Compete and Restrictive Covenants. Designed for individual HR professionals and teams with digital collaboration needs, platform subscriptions are customizable to organization size and employment location.
VirgilHR is backed by industry expert investors and will use the funding to continue product development through the release of new modules and increase targeted marketing efforts.
“VirgilHR is intelligently applying technology to offer agency to HR teams and employees, improving the employment environment for all stakeholders,” said Taylor McLemore, Managing Director at Techstars. “Jocelyn brings with her the people leader experience to build the solution to a persistent problem in the HR industry and in an innovative way, bring forward a new era of HR tech.”
“Jocelyn’s experience in the field has enabled her to develop a compelling product that delivers on the mission of making the working experience better for HR professionals,” said Margaret Fazlon, COO of Squadra Ventures. “She is a magnetic founder and with the right plan, product, and go-to-market strategy for the mid-market, we’re excited to support VirgilHR as they aim for liftoff.”
“As a former HR executive, Jocelyn provides unique insight into the HR profession and understands the compliance pain points HR experiences on a day-to-day basis,” said Guillermo Corea, Managing Director of SHRMLabs. “VirgilHR helps organizations mitigate risk and liability, all the while bringing greater efficiency to HR.”
VirgilHR will graduate from the Techstars Workforce Accelerator program and King will present at the program’s Demo Day on Wednesday, February 8, 2023 from 6:00-7:30 pm EST, in Denver, CO. Presentations will be in-person and aired virtually. Registration can be made at https://bit.ly/3Ju2vYI.
About VirgilHR
VirgilHR is the new evolution of HR compliance software, enabling HR professionals to spend more time on strategic objectives and less time on researching and tracking thousands of ever-changing employment and labor laws. Our mission is to help HR professionals navigate the growing employee complexities, close the knowledge gap and empower HR teams to make compliant employment decisions with ease and confidence.
These Weizmann Institute Breakthrough Discoveries of Glycosylated Cannabinoid Genes and Enzymes Expand Xinteza’s Recently Unveiled Novel Biosynthesis Platform and Strong IP Portfolio
TEL AVIV, Israel, Feb. 2, 2023 — Xinteza API Ltd., announced today the discovery, in breakthrough research led by Prof. Asaph Aharoni at the Weizmann Institute of Science, of a novel sub-set of cannabinoid-glycosylation enzymes and genes, uniquely tailored by nature to promote enzymatic fusion of sugar moieties to cannabinoid molecules, thus enabling the production of true water-soluble cannabinoids. This natural modification process eliminates the need to use liposomes or other nanoparticles that may have questionable applicability or even be hazardous to health.
Alon Gal, CEO and co-founder, Xinteza API (PRNewsfoto/Xinteza API Ltd.)
Prof. Asaph Aharoni, Head of Plant Metabolomics Lab and head Plant and Environmental Sciences Department, Weizmann Institute of Science (PRNewsfoto/Xinteza API Ltd.)
“These flavorless, odorless, colorless, immediately-impacting true water-soluble cannabinoids offer a cleaner, more sustainable and a higher quality alternative to the often smelly, bitter, brownish, oil-based products”, said Alon Gal, Xinteza’s CEO. “Moreover, our technology enables an efficient biosynthesis platform for a commercial-scale production of these active ingredients, thus unlocking the rise of the more advanced cannabinoid-based products, such as better, tastier, and more effective beverages, edibles, cosmetics, nutraceuticals, and pharmaceuticals, and this is what the industry has been looking for. We can already feel the surging need and the increasing demand for this unfulfilled yet projected next generation of true water-soluble cannabinoid products and we are already engaged in collaboration discussions with partners to join forces and turn this into reality soon”, added Gal.
Xinteza is operating in collaboration with the Weizmann Institute of Science in Israel and the Plant Metabolomics lab headed by Prof. Asaph Aharoni, and based on a license signed with Yeda, the commercial arm of the Weizmann Institute.
“This discovery of glycosylation-related genes and enzymes is a key milestone in uncovering additional aspects of the complex metabolism associated with cannabinoids, and another leap forward in our ongoing journey of discovery of biological infrastructures, molecules, modifications, and processes associated with cannabinoids, with a vast array of potential utilization and scientific implications”, said Prof. Asaph Aharoni, Xinteza’s Scientific Co-Founder and Head of the Weizmann Institute of Science Plant Metabolomics Lab and of the Institute’s Plant and Environmental Sciences Department. “Furthermore, this scientific achievement has the potential not only to disrupt the water-soluble cannabinoid market, but to advance the understanding and unveiling of much deeper mechanisms related to the biosynthesis of cannabinoids,” added Prof. Aharoni.
Cannabinoids are lipophilic in nature, meaning that they dissolve in oil-based solvents but not in water. However, there is already a significantly high demand in the market for water-soluble cannabinoids to be used in the production of cannabis-infused beverages and food ingredients, and much more is projected in all the various product categories. So far, the industry has been relying mostly on nano-emulsion technologies for the production of cannabis-infused beverages, where the cannabinoids are encapsulated in liposomes or other water-soluble nanoparticles to achieve a certain level of cannabinoid solubility. Nevertheless, a growing body of evidence shows that these nano-particles may be hazardous to health, as they do not completely break down in the body and might accumulate in different tissues and organs, thus creating a health risk.
The idea of using glycosylation, meaning the process of fusing cannabinoid molecules with sugar moieties to achieve water solubility, is not new and was suggested in the past. However, the cannabis plant itself does not possess such glycosylating enzymes, and other enzymes sourced from other plants (such as rice or stevia, for example) have shown limited activity as they were not originally tailored by nature to glycosylate cannabinoid molecules.
Xinteza API Ltd. is engaged in the discovery and development of a wide array of novel genes and enzymes, and innovative genetic pathways for the enhancement of the biosynthesis of cannabinoids and psychoactive ingredients, and their whole bio-production. Xinteza operates under an exclusive license for both cannabinoids and psychedelics from the Weizmann Institute of Science, and with the research led by Prof. Asaph Aharoni, and is diligently building an unprecedented portfolio of related IP assets and patents. Founded in 2019 and led by a team of experienced entrepreneurs, Xinteza’s strategic partners include industry players such as IM Cannabis (NASDAQ: IMCC, CSE: IMCC). Xinteza aims to revolutionize the commercial-scale synthesis of ultra-pure natural lab-made major, minor, and modified cannabinoids, and a group of key psychedelics. It focuses on making the production of innovative APIs and AIs for high-end CPG and pharma more accessible by implementing its disruptive discoveries of novel genes, genetic pathways, and molecules, by enabling the removal of bottlenecks, efficiency enhancement, and boosting natural production processes.
About Yeda
Yeda Research and Development Company Ltd. is the commercial arm of the Weizmann Institute of Science. Yeda currently manages approximately 500 unique patent families and has generated the highest income per researcher compared to any other academic technology transfer operation worldwide. Through the years, Yeda has contributed the commercialization of a number of groundbreaking therapies, such as Copaxone, Rebif, Tookad®, Erbitux®, Vectibix®, Protrazza®, Humira®, and recently the CAR-T cancer therapy Yescarta®.
About the Weizmann Institute of Science
The Weizmann Institute of Science in Israel is one of the world’s top-ranking multidisciplinary research institutions. Noted for its wide-ranging exploration of the natural and exact sciences, Weizmann Institute’s scientists are advancing research on the human brain, artificial intelligence, computer science and encryption, astrophysics, and particle physics, and are tackling diseases such as cancer, while also addressing climate change through environmental, ocean, and plant sciences.
The company announces initial investment of 2.5 million with an additional estimated $3.3 million expected over 5 years
CHARLOTTE, N.C., Feb. 2, 2023 — Conterra Ultra Broadband Holdings, Inc. (“Conterra Networks”) today announced its continued investment in fiber network growth across Angelina County with its initial investment of $2.5 million investment and an additional estimated $3.3 million expected over 5 years.
Conterra Networks designs and builds its 100% fiber network with symmetrical service, speeds of up to 10 Gbps, and 99.99% network reliability. The local team manages the all-fiber network, which is now available to approximately 608 Angelina County businesses and growing.
“The communities we serve by investing in local network infrastructure continues to be a top priority for us,” said Craig Gunderson, President and CEO of Conterra Networks. “This investment is critical to the growth in Angelina County. With the ever-increasing business connectivity requirements, we are always committed to enabling limitless communications opportunities for our customers by providing access to custom-designed, ultra-high-capacity broadband networks.”
Conterra Networks is expanding and investing in communities in Texas, including Nacogdoches, Kilgore, Tyler, Marshall, Longview, and Henderson. The expansion is part of the company’s growing network infrastructure across the United States. To date, Conterra Networks has 15,000 fiber miles, 2,700 schools served, and over 8,000 on-net locations.
To learn more about Conterra Networks and the expansion efforts in Texas, visit www.conterra.com
About Conterra Networks
Founded in 2001, and now operating 15,000 fiber miles, Conterra Networks is one of the largest remaining independent broadband infrastructure companies in the United States based on its optical fiber and fixed wireless network assets and annual recurring revenues. The company is owned by affiliates of APG and Fiera, along with significant participation by the company’s senior management team. For more information about Conterra Networks, please visit www.conterra.com.
Fund is largest first-time female-owned venture fund outside of the coasts
CHICAGO, Feb. 2, 2023 — Buoyant Ventures, an early-stage venture fund investing in digital solutions to climate risk, has announced the close of its debut fund with $76 million in commitments with an additional $5.7 million raised in co-investments, making the fund’s total assets under management $81.7 million. According to Pitchbook, this is the largest first-time female-owned venture fund outside of the coasts.
Investor participation includes leading limited partners Microsoft Climate Innovation Fund, Xcel Energy, Bank of America, NiSource, WovenEarth Ventures, and the Office of the Illinois State Treasurer. Investors also include leading tech general partners, energy companies, software entrepreneurs, and impact investors.
While this flagship fund is Buoyant’s first, it is led by experienced investors and entrepreneurs. Amy Francetic, co-founder and managing general partner in Chicago, has more than 15 years of investment expertise. She was the founding managing director, raising $165M at Energize Ventures. She was also the founding CEO of Clean Energy Trust and has been a board member and CEO of high-growth companies. Allison Myers, co-founder and general partner in Denver, is a former Accenture Strategy executive with deep domain expertise in energy, mobility, built environment, and digital transformation strategies. She is a founding board member for Michigan Climate Venture at the University of Michigan.
“Buoyant is investing in companies across a broad set of industries that can deliver near- term solutions to climate change. Having founded and run several companies and another venture fund, we understand the positive impact entrepreneurs can bring to the table and what motivates them,” said Amy Francetic, managing general partner, Buoyant Ventures. “As a 100% woman-owned firm, we seek to support founders who may have been traditionally under-represented. We strive to be a trusted partner to our CEOs and the most helpful investor in the boardroom.”
“Digital technologies will play a vital role in identifying and mitigating the risks associated with climate change. Buoyant Ventures is investing in climate intelligence tools to help industries manage the climate transition. Microsoft’s Climate Innovation Fund is proud to invest in this vision,” said Brandon Middaugh, director, Microsoft Climate Innovation Fund.
Leveraging artificial intelligence, and satellite data and data analytics helps pave the way for more complicated scientific breakthroughs that can take years to mature. The Buoyant Fund is focused on seed and Series A opportunities and has made nine investments to date: Raptor Maps (optimization software for utility-scale solar); StormSensor (software and hardware to manage urban flood risk); SupplyShift (software to measure ESG metrics in global supply chains); FloodFlash (parametric flood insurance); Shifted Energy (demand response software for residential energy load); Audette (decarbonization software for commercial real estate); ReelData (software to optimize land-based aquaculture production); Beni (software to streamline secondhand clothing shopping); and Canopy (climate benefits software for employee decarbonization).
“As national leaders in the clean energy transition, we know cutting-edge technology will play a crucial role in our vision to deliver 100% carbon-free electricity to customers,” said Bob Frenzel, chairman, president and CEO of Xcel Energy. “This venture fund will help bring innovative digital technologies to the forefront in Colorado and all the states we serve so we can continue building a resilient energy system that provides customers with safe, reliable and sustainable energy.”
“There is an urgent need for innovative solutions that help us adapt to climate change and mitigate its worsening impacts,” said Allison Myers, general partner, Buoyant Ventures. “By focusing on digital solutions that rapidly can be deployed and scaled, we see our investments accelerating the effort to tackle some of the most pressing challenges of our time and put us on the path towards a sustainable future.”
“The Buoyant team has deep expertise in energy transition and supporting ambitious startups tackling existential climate issues. They have been invaluable in connecting us with financiers and asset owners in the utility-scale solar ecosystem, so we can power their digital transformations and build and maintain more solar assets,” said Nikhil Vadhavkar, CEO and co-founder of Raptor Maps.
The fund’s investment focus areas include energy, mobility, agriculture, water, circular economy, and the built environment.
About Buoyant Ventures
Buoyant Ventures is a female-led venture fund investing in entrepreneurs using digital technology to mitigate and adapt to climate change. Buoyant invests in startups leveraging software and simple hardware to address climate change across the energy, mobility, agriculture, water, circular economy, and the built environment industries.
In a round led by Left Lane Capital, AnswersNow secures capital to provide more families with access to expert-level autism support.
RICHMOND, Va., Feb. 2, 2023 — AnswersNow, the next-gen platform for digital Applied Behavior Analysis (ABA) with a mission to deliver high-quality, personalized therapy to all, today announced it has closed $11 million in Series A financing. The round was led by Left Lane Capital, a venture capital and growth equity firm that invests in high-growth internet and consumer technology businesses. Additional backing was provided by new and existing investors, including American Family Institute for Social Impact, Blue Heron Capital, Difference Partners, and former Kadiant CEO Lani Fritts.
AnswersNow will use the funding to expand the reach of its ABA therapy services into more states across the U.S., to grow its skilled team of PhD and Master’s-level clinicians, and to improve the user experience of its interactive virtual platform.
“One of the most significant pain points for families of individuals with autism, ADHD and other developmental disabilities is access to quality care. AnswersNow is changing that with our approach and our virtual platform,” said Jeff Beck, AnswersNow CEO and Co-founder. “This latest round of funding enables us to impact the lives of more families, many of whom have been sitting on waitlists for months, or who live in areas where there’s not even one board-certified clinician. With no waitlist and a robust team of PhD and Master’s-level clinicians on-hand, we can quickly connect families to individualized, effective therapy from the safety and comfort of their homes.”
Henry Toole, at Left Lane Capital said, “AnswersNow challenges the status quo by providing high-touch, quality virtual care for people diagnosed with autism. They’ve already helped individuals reach incredible milestones across their communication, self-care and behavior skills. We are thrilled to partner with the team at AnswersNow to help them redefine how care is delivered to families across the U.S., especially in areas that lack access to high-quality care.”
Founded in 2017, AnswersNow pairs families with a dedicated clinician for behavioral therapy sessions hosted on its custom-built virtual platform. The platform was designed with the help of clinicians to mirror the controlled environment of an in-person therapy experience. It uses special screen features that eliminate distractions and integrated activities focused on things like memory and recognition to engage clients in their care. In 2022 alone, the platform enabled the company’s clinical team to facilitate 10,000+ hours of therapy.
In a recent feedback survey, 96% of AnswersNow parents and caregivers reported seeing improvements in their family members’ behavior and or language skills, and 100% said they were satisfied with their care. This funding will allow AnswersNow to develop more features that will further enhance the effectiveness and ease of its virtual care delivery.
AnswersNow currently employs a network of clinicians from across the country, and partners with the nation’s leading health insurers, including Medicaid, United Health Care, Aetna, Cigna, Anthem and Blue Cross Blue Shield.
“Our mission at AnswersNow has always been to make the world as big as possible for the individuals we serve,” said Jeff. “We’re thrilled to be collaborating with Left Lane Capital and a group of investors who clearly understand that mission and are committed to expanding access to care.”
ABOUT ANSWERSNOW: AnswersNow is transforming the autism therapy experience for families by increasing the immediacy, accessibility and quality of care through our personalized virtual ABA therapy. In 2022, our proprietary digital platform enabled our network of PhD and Master’s-Level clinicians to facilitate 10,000+ hours of therapy to families in Georgia and Virginia. For more information, please visit www.getanswersnow.com.
ABOUT LEFT LANE: Left Lane Capital is a New York-based global venture capital firm investing in high-growth internet and consumer technology companies. Left Lane’s mission is to partner with extraordinary entrepreneurs creating category-defining businesses fundamental to the human condition and spirit. Previous investments include GoStudent, Masterworks, M1 Finance, Tovala, FightCamp, Wayflyer, Blank Street, and more. For more information, please visit www.leftlanecap.com.
