Barley’s HR software builds trust between employers and employees through informed and equitable compensation management

TORONTO, March 8, 2023 — Barley, a compensation management platform that makes it easy for companies to structure, analyze and manage pay, launches today with $4 million in seed funding led by Golden Ventures with participation from Union Capital, an investor collective that includes prominent technology leaders at Facebook, Google, Shopify and Uber.

Barley is tackling one of the biggest issues facing businesses today: how to make better compensation decisions, which employers feel confident about and employees can understand. A recent Gartner survey found that only 38% of employees understand how their pay is determined. Barley improves the clarity and transparency of the compensation process, helping HR teams and managers make data-driven decisions that result in more equitable pay for all employees.

“Compensation is a company’s biggest expense, but comp management is often treated as a mere admin task. In 2023, companies have software tools for every important part of their business, but pay decisions are still made in scattered spreadsheets and email threads. That leaves leaders wondering if they are missing the big picture and employees questioning if they’re being paid fairly,” said Barley CEO Jafar Owainati. “Barley was built to help companies create and execute equitable pay strategies, giving people teams and managers the insights and guardrails for what they pay.” 

Barley was co-founded by Owainati and CPO William Mainguy – both serial entrepreneurs who launched and grew successful technology startups Loopio and Reelhouse. Barley will use its funding for product development and to expand its go-to-market teams. Barley established a strong market foothold while in private beta, bringing on early customers such as Affinity, Flinks and Properly, and launching integrations with popular HR and ATS platforms such as ADP, BambooHR, Greenhouse and Lever.

“Successful companies need to balance rewarding employees, incentivizing great performance and making sustainable long-term budget decisions. We see a white-hot market opportunity for Barley to help businesses get compensation right at a time when it is more important than ever,” said Matt Golden, managing partner at Golden Ventures. “I was compelled to invest in Barley by the founding team’s clear vision for a compensation platform that builds trust between employers and employees.”

Barley streamlines the entire compensation process, enabling companies to create consistent salary ranges, conduct pay equity analyses and manage salary reviews. With robust integrations and access controls, Barley improves communication around compensation, while helping businesses save time, avoid mistakes and optimize their budget.

“We’ve created a solution that helps every single person at a company better understand compensation, from executive leadership to the individual employee,” said Mainguy. “Comp is complex and sensitive, so we place a lot of emphasis on the user experience. We thoughtfully distill what’s often intimidating information into powerful yet simple steps so companies can feel proactive, fair and confident in their practices.” 

“Barley makes compensation clear. Other solutions that I’ve used have felt clunky for admins and managers,” said Flinks Vice President of People Operations Brendan Yorke. “I’m regularly delighted by new features that Barley launches to better structure employee compensation, visualize our data or make our experience even smoother. And, with partners as driven and customer-focused as Barley, the best is yet to come.”

Barley is now available to the public. Companies can explore and learn more about Barley at barley.io/demo.

About Barley
Barley is compensation management software that makes it easy to structure, analyze and manage compensation – and keep a pulse on changing pay trends in the market. Forward-thinking businesses use Barley to simplify and optimize their approach to compensation, enabling them to attract more top candidates, reduce turnover, and improve pay transparency and pay equity. Barley has been named a Top HR Tech Company to Watch for This Year. Visit us at https://www.barley.io.

Media Contact:
Rebecca Scanlan
303-733-0328
[email protected]

SOURCE Barley

Recast Accelerate will provide working capital to emerging managers poised to unlock the next wave of value creation in VC

NEW YORK, March 8, 2023 — Recast Capital, a platform dedicated to investing in and supporting emerging managers in venture—founded in 2020 by Sara Zulkosky and Courtney McCrea— launches Recast Accelerate, a new catalytic program to drive the success of women-led, early stage US funds in venture capital. The program, which has early support from Pivotal Ventures, a Melinda French Gates company, is rooted in the hypothesis that by increasing the number of emerging general partners (GPs) that identify as women or non-binary, particularly those focused on investing at the earliest stages of company development, you will also increase the percentage of VC funding to founders from underrepresented backgrounds. Recast Accelerate is a fiscally sponsored project of New Venture Fund, a 501(c)(3) public charity.

“While we’ve witnessed momentum for women and other underrepresented GPs in venture capital, structural inequities and barriers still exist. A huge issue that still remains is the fact that it takes women and underrepresented GPs twice as long to raise their venture funds and building the back-office infrastructure to run a fund is highly time and resource intensive,” said Sara Zulkosky, Co-Founder and Managing Partner of Recast Capital. “We saw an opportunity to launch a program that would leverage catalytic capital to help accelerate this progress, providing education and financial support to new female-led funds to extend their runways and improve their staying power in industry. We believe this will more efficiently enable a pathway to greater diversity in venture for both funders and founders.”

Recast Accelerate will support women-led emerging venture funds by providing access to Recast’s established Enablement Program, including key educational content, professional development and community-building resources, complimentary executive coaching, and capital to be leveraged in support of each fund’s backend operations. This capital could be used for the fund’s legal or fund administration expenses, and/or technology stack, some of which will be available as discounted offerings through Accelerate’s menu of subscriptions and services. Recast plans to work with 30 funds in the inaugural Accelerate cohort in 2023.

The intent of Recast Accelerate is two-fold: first, by providing this support and capital for the services fundamental to a VC firm’s success, the dollars previously budgeted to these areas will be available to the managers to redirect to other considerations and help to extend their fundraising runway. Second, by catalyzing the long-term success of the female emerging managers (EMs) in the program, you will create the opportunity for more companies led by female founders and founders from other underrepresented backgrounds to receive funding.

“In order to drive change and break barriers within the venture landscape, we need to be able to provide the right set of resources. We look forward to supporting new fund managers that we believe will be successful – that will leverage their unique expertise and networks to identify and win allocation in some of tomorrow’s greatest companies,” said Courtney McCrea, Co-Founder and Managing Partner of Recast Capital. “These are managers we believe have the potential to create industry-leading franchises. It’s this out performance that will help to ensure their staying power in the industry, and help to ensure more underrepresented founders have more opportunities to receive the capital necessary to scale.”

In exchange for participating in the program, Recast will ask each fund manager to share the demographics of the founders in which they invest in order to gather the data necessary to test their hypothesis. Recast commits to sharing their findings in a public report.

This is just the first step for Accelerate. Looking ahead, Recast plans to bring on additional funding partners to support more underrepresented EMs and provide direct investment capital to the managers in the program. These funds would allow the EMs to build their investment portfolio and track record while fundraising, working to further accelerate their success in the market. 

To learn more about Recast Accelerate, visit recastcapital.com/accelerate/ or email [email protected].

Media Contact
Jessi West
415-562-6005
[email protected]

About Recast
Recast Capital is a 100% women-owned venture capital platform that invests in and supports top-tier emerging fund managers, with a focus on diverse partnerships. The platform was built to drive returns and create substantive change in the venture industry.

Founded by seasoned, institutionally-trained fund investors Courtney McCrea and Sara Zulkosky, Recast Capital leverages its deep network and exceptional track record to provide its limited partners diversified exposure to top-performing emerging managers, as well as access to a pipeline of the future’s industry-leading franchises.

Recast also launched the Enablement and Accelerate Programs as powerful complements to its fund investment strategy; the programs provide learning and development opportunities for emerging managers in venture, allowing Recast to support more of the community than just those it can invest in via their fund investment strategies.

Learn more at www.recastcapital.com.

SOURCE Recast Capital

Partnering to power the next phase of community pharmacy

BESSEMER, Ala., March 7, 2023 — Pharmacy Marketplace announces it has closed Series Seed-3 financing, including participation from Live Oak Ventures, the investment arm of Live Oak Bancshares, Inc. The relationship supports the scalability and accessibility of the Pharmacy Marketplace software, serving independent pharmacies everywhere.

As the pharmaceutical market has evolved, Pharmacy Marketplace was developed by pharmacy owners to access the power of reactive artificial intelligence modules to synthesize the variables in purchasing and improve business performance for independent pharmacies.

This investment helps facilitate the next phase for Pharmacy Marketplace. Capital will be invested to increase the platform’s capabilities and train the customer success team, to ensure pharmacies integrate Pharmacy Marketplace into workflows and maximize the benefits of the platform.

Pharmacy Marketplace Founder and CEO, Wade Hinkle said, “Pharmacy Marketplace is at a critical inflection point with massive growth potential and high user demand. Live Oak Bank is as good as it gets in the pharmaceutical industry. This partnership bolsters our core offering, providing the liquidity and scalability needed to improve profitability for all independent pharmacies nationwide.”

“Live Oak is excited to invest in companies such as Pharmacy Marketplace that leverage next-generation technology to support business growth. As a bank that lends to independent pharmacies across the country, we see the extraordinary value Pharmacy Marketplace is providing independent pharmacists to help them maximize their wholesaler rebate while minimizing their cost of goods with strategic purchasing on the secondary market,” said Stephanie Mann, Live Oak Bank Chief Strategy Officer.

Independent pharmacies can join Pharmacy Marketplace to get the powerful purchasing platform needed to navigate today’s multifaceted marketplace with ease.

About Pharmacy Marketplace:

Pharmacy Marketplace is a powerful software platform was created by pharmacy owners for pharmacy owners to support real-time purchasing decisions to reduce cost of inventory and maximize the sustainability of independent pharmacies. Visit https://pharmacymarketplace.com.

About Live Oak Ventures:

Live Oak Ventures, a wholly owned subsidiary of Live Oak Bancshares, is a fintech-focused investor that aims to bring innovation and performance excellence to the forefront of the banking industry. By investing in companies that accelerate the delivery of open digital solutions to the market, Live Oak Ventures intends to change the landscape of financial services and small business banking.

SOURCE Pharmacy Marketplace

 FORT COLLINS, Colo., March 7, 2023 — Tilt announced today that it has completed a $10 million funding round. The investment is led by Origin Ventures, with participation from additional investors, including current investors from the Series A round in September 2021 such as Firework Ventures, who led the previous round. Tilt will use the funding to support its continued growth to meet the immense demand from the market, invest further in its technology and partnerships, and scale the team to provide a positive and empathetic experience for everyone who needs leave.

Tilt, an HR tech company, was founded in 2017 with the mission of humanizing the employee leave of absence experience in a meaningful way through a platform-based solution. Tilt has tapped into a large HR solutions gap centered around solving the complex and dynamic aspects of managing a leave of absence (LOA) that most organizations today aren’t equipped to facilitate at scale.

Understaffed teams and legacy solutions require HR to depend on outdated systems and a mess of spreadsheets for managing leaves, which provides a cold and confusing experience for employees. Tilt’s research-based approach to LOAs has proven invaluable to HR teams across the country, making managing leaves seamless for HR, payroll, employees and managers no matter what state they reside, all while saving organizations both time and money.

“Jen and the Tilt team are truly inspiring,” said Brigette Lau, Founding Partner at Firework Ventures. “The pandemic accelerated a reassessment of the relationship between employees and their employers and we’ve seen this team execute and capture the moment. We’ve been thoroughly impressed by their ability to build a thoughtful and scalable product that is a win-win for employers and their workforces. We are excited for the growth opportunity ahead for the company and have conviction that this team will continue to excel!”

HR departments are facing growing pressure to deliver value to their organizations. Tilt’s simple yet powerful solution helps People Teams shine by automating HR’s busy work, alleviating leave law confusion, educating managers, supporting payroll, and increasing compliance confidence while protecting employee information. With this funding round, Tilt will expand the capabilities of its web-based platform and human support system even further so HR teams can easily deliver a consistently supportive and empathetic leave experience for the employees they serve.

“The modern labor force expects leaves of absence – in various forms, including those related to family medical leave – to be well-managed before, during, and after the absence. Tilt’s technology delivers a seamless employee experience, while coordinating compliance and financial settlement for HR and finance professionals, respectively. Our firm is pleased to be helping Tilt deliver on their vision for the Workplace of the Future,” commented Brent Hill, Managing Partner at Origin Ventures. 

Tilt’s Founder and CEO, Jennifer Henderson, understands all too well the real cost of getting leave management wrong, and the lasting ripple effects it causes that some organizations can’t recover from. Jen founded Tilt out of her own frustrations around two separate parental leave experiences at Fortune 500 companies. She was determined to build a solution that would ensure her children wouldn’t have to experience the same stigmas and frustrations she endured.

“This round reflects the dedication and passion Tilters have put forth in our unwavering mission to make leave not suck,” said Jen. “What we’ve been able to accomplish with our previous funding round has been tremendous. We’ve seen our Tilt family triple as we’ve made massive strides in evolving our platform to make leave management easier than ever for HR, all while continuing our commitment to provide the most empathetic leave experience for employees. With this new capital, we’ll be able to invest in growing our team and enhancing our solution even further as we continue to deliver the best leave of absence experience in the world.”

Tilt offers HR departments a dream solution for their most headache-inducing task while helping retain employees through personalized support and empathetic technology.

About Tilt
Tilt is a tech company that offers organizations a stress-free and cost-saving leave of absence management platform that streamlines the entire process. This not only frees up time, but also makes sure that each leave is handled empathetically, effectively, and consistently. Tilt also makes it easy for organizations to capitalize on funds from state and local government benefit programs while keeping data secure and reducing compliance risk. Tilt is an invaluable investment for any business as it continues to improve the way leave of absence is done, resulting in increased employee retention, engagement, and more effective People Teams.

CONTACT: Brandon Salisbury, [email protected]

SOURCE Tilt

Fynn’s affordable and fair student loans enable students of all backgrounds to pursue a degree from trade or technical schools

NEW YORK, March 7, 2023 — Fynn, a fintech lender providing private student loans for America’s skilled workforce, today announced the close of an $11 million seed round and $25 million debt facility. Lead investors include Y Combinator, Susa Ventures, Village Global, Tenacity Venture Capital, and Watchfire Ventures. The seed funding will be used to expand Fynn’s services across the United States and to support students looking to further their education.

As the U.S. continues to experience its largest labor shortage since World War II,  Fynn is providing students with secure, fair, and affordable loans to attend qualifying trade schools that put them on a path toward stable careers and a middle-class lifestyle. Millions of students try to pursue skilled labor careers each year, only to be held back by their financial circumstances. Oftentimes, federal financial aid is extremely limited or non-existent at trade schools. Fynn is filling the void by providing students with the means to attend schools, get the training they need, and join the skilled workforce.

“We believe everyone should have access to a quality education and the tools to help them get there, regardless of socioeconomic status. Fynn members go on to pursue careers in high-demand fields like the industrial, construction, and manufacturing trades, along with allied health and medical technology,” said Eric Menees, CEO and co-founder at Fynn. “By providing robust and affordable financial aid, millions of students can enter the trades and start achieving the American dream. This is why it’s so important for us to underwrite students based on their potential, not just their past.”

Unlike most traditional private student lenders, Fynn is invested in the student’s long-term success and has member benefits designed to help recent graduates minimize stress and stay on track with payments as they start their careers. Fynn provides three major built-in benefits unique to their loan: income protection, payment pauses, and loan forgiveness. These benefits are designed to help students weather unexpected financial hardships and pay off their loans without worry.

“Having access to trade school programs shouldn’t be this complex, especially at a time when skilled workers are needed more than ever. There is still time to solve America’s labor-supply issues, which is good news,” said Leo Polovets, general partner at Susa Ventures. “Our investment enables Fynn’s continued growth as a leader in skills-based education financing and allows them to continue helping low-income students achieve middle-class status through quality education.”

Fynn currently provides loans to150 different programs across the U.S., helping students at high-quality trade schools like Heartland Welding Academy and The Medical Institute of Kentucky. By partnering with schools that have rock-solid graduation and job placement rates, Fynn can incorporate future potential into lending decisions, which gives credit-invisible students a fair chance. Since launching its flagship product in July 2022, Fynn has provided over $4 million worth of financial assistance to students in need.

To get started with Fynn and apply for funding or sign up as a partner school, please visit fynncredit.com.

About Fynn
Fynn provides a pathway to the American middle class through financially accessible loans for trade and vocational education. Flipping the traditional lending model on its head, Fynn underwrites students based on their future potential and aligns its interests with schools and students to fully support success from enrollment to employment. With Fynn as their financial partner, everyday Americans gain access to education that supports long-term financial stability.

Founded in 2019, Fynn went through Y Combinator and has since raised $36 million in funding from various investors, including Susa Ventures, a seed investor in Robinhood and Flexport. In 2023, Fynn’s founders were recognized in the Forbes 30 Under 30 list in the Education section. To learn more, visit fynncredit.com

SOURCE Fynn

CHINO HILLS, Calif., March 7, 2023 — Venture MLS, the venture capital fund established in 2022 by California Regional Multiple Listing Service (CRMLS), is pleased to welcome David Anderson as a new Venture Partner. Anderson has a long history of working at the intersection of technology and real estate.

In his new position, Anderson’s responsibilities will include identifying investors and fundraising opportunities while promoting the objectives and varied portfolio investments of Venture MLS to a broad network of companies, firms, and entrepreneurs. With his experience in managing fast growing companies and his knowledge of real estate technologies, he will be advising the managers of both Venture MLS and its portfolio companies while vetting potential investments.

“I’ve known the CRMLS team for a long time and have been impressed by their commitment to forward thinking initiatives, so the announcement of their new fund really piqued my interest,” said Anderson. “The real estate industry is in a state of change right now, and new technologies are more important than ever. I look forward to advising startups and helping them scale quickly.”

“I met David back when he was at LionDesk, and it’s a great privilege to bring him aboard the Venture MLS team,” said Art Carter, Venture MLS fund manager and CEO of CRMLS. “The goal of Venture MLS is to find exciting new investments and nurture them to be real industry game-changers. David’s knowledge in the technology space will be invaluable as Venture MLS grows.”

Anderson was the founder of LionDesk and led it to be one of the fastest growing companies in the US, reaching no. 360 in 2020’s Inc. 5000 ranking. In 2021, LionDesk was acquired by Lone Wolf, where Anderson continued as General Manager, Agents & Teams. He has been named to the Swanepoel Power 200 report twice and currently serves as an advisor to several startups through his new endeavor, ReTechAlliance. 

About Venture MLS

Venture MLS was created by industry veterans to leverage MLS knowledge into new technological advancements via strategic investment. Its first initiative, Venture MLS Fund I, will back seed and early-stage real estate technology companies, and is now inviting participation from groups and individual stakeholders within the organized real estate industry. For more information on Venture MLS, visit www.venturemls.com

About California Regional Multiple Listing Service (CRMLS)

California Regional MLS is the nation’s largest and most recognized subscriber-based MLS, dedicated to servicing more than 110,000 real estate professionals from 41 Associations, Boards, and MLS organizations. CRMLS is the industry powerhouse and thrives on providing the most relevant products and services to its subscribers. For more information on CRMLS, visit www.crmls.org.

Media Contact:
[email protected]

SOURCE Venture MLS

CUPERTINO, Calif., March 7, 2023 — Glider AI, a Skill Intelligence Platform, closed a total of $10M in Series A funding from Primera Capital and other industry leaders. Recognized by Staffing Industry Analysts (SIA) as the most innovative HR technology, the company will use the funds to continue its expansion in contingent programs and permanent hiring, furthering the development of proprietary technology, and growing its global team.

Glider AI serves a customer base of global enterprises and leading staffing firms, supporting their transformation from outdated credentials-first recruiting into remote-centric, skills-based hiring. Founded in 2020 by Satish Kumar, previous COO and co-founder of Edulastic (acquired by Sumeru Equity Partners), Kumar started Glider AI to make hiring fair and opportunity accessible. Notably, diversity hiring (DE&I) and supporting candidates with accommodation needs are central to the platform.

Arun Sarin, former CEO of Vodafone and Glider AI advisor and investor, shares, “We always say people are your competitive advantage; Glider AI makes it a reality by evaluating talent skill at scale without bias, ensuring employees you have are the best and most deserving of the opportunity.”

Hiring skilled talent remains competitive despite economic uncertainty and is a top priority for Glider AI customers. Underscoring this customer notion and the latest BLS data, Ori Sasson, General Partner of Primera Capital, shares, “Demand for quality talent remains high, and I don’t think this will ever change. Talent quality is a dynamic that makes Glider AI critical whether the economy is slow or growing. Unequivocally, Glider is the best solution available for companies to build their dream team. It removes the clutter in hiring decisions, and top candidates win, always!”

Glider AI customers benefit from the industry’s most comprehensive recruiting solution, bringing skill intelligence across multiple modalities and channels, from screening to live interviews, over the web or phone, through WhatsApp or SMS. Beyond skill validation, sophisticated AI-proctoring confirms candidate identity across all hiring stages while still delivering an exceptional candidate experience. Additionally, customers can configure Glider AI to meet their quality benchmark requirements, customize assessments to match their technology stack or functional roles, and throttle the level of AI-proctoring and anti-plagiarism controls.

Boasting over 250,000 questions, 35+ interactive question types, and 500+ competencies for technology and non-tech functional roles, the Glider AI solution extends beyond hiring with the ability to identify employee skill gaps, supporting reskilling and upskilling initiatives. The most common use case of Glider AI is skill evaluation with hands-on tasks that replicate real-world scenarios allowing candidates to showcase their skills at a deeper level.

Kumar shares, “Companies realize employee skills are central to their business strategy, not just hiring. The need to validate candidate skill and integrity is more critical than ever in a remote-friendly and hybrid world. Glider AI’s Skill Intelligence Platform serves the market need to confirm job readiness and employee potential. I’m grateful to our customers and investors for believing in Glider AI’s mission.”

About Glider AI
Glider AI, a Skill Intelligence Platform, provides hiring solutions, including screening, assessments, coding/video interviews, and upskilling software to scale hiring quality talent for the Enterprise, Staffing Firms, and MSPs.

Global brands like Intuit, PwC, Applied Materials, Carmax, and FINRA trust Glider to validate candidate quality and fit across any role in any industry. On average, customers see a 3x placement rate, a 50% reduction in time-to-fill, and a 67% improved candidate pipeline quality.

For more information, visit Glider AI.

CONTACT: Joseph Cole, [email protected]

SOURCE Glider

Science-Backed Mental Health App Empowers Gen Z Employees to Live Better Lives In and Out of the Workplace

SAN FRANCISCO, March 7, 2023 — Wave Life, the science-backed mental health platform aimed at supporting Gen Z, today announced the completion of a $6 million seed investment led by Santé Ventures. Additional investment comes from Hannah Grey, Joyance Capital, Gaingels, and Telocity Ventures. The newly raised capital will allow Wave Life to refine their product offering and expand further into the employer space, where mental health has become pivotal for employee satisfaction and retention. Wave Life makes managing mental health more personal, less tedious, and more effective for Gen Z. The platform provides users with accessible emotional wellbeing coaching and science-backed techniques to help them survive and thrive both in and out of the workplace. The company’s innovative approach to mental health prioritizes the unique needs and experiences of this younger generation, supporting them as they build a solid foundation for their sustained mental health.

Gen Z, born between 1997 and 2012, is the youngest working generation and is expected to comprise 30% of the workforce by 2030, according to the U.S. Bureau of Labor Statistics. Recent reports indicate that Gen Z adults are the most stressed generation. The COVID-19 pandemic has only exacerbated existing issues such as remote work arrangements, job insecurity, the impact of social media, and geopolitical events. This has led to staggeringly high levels of depression, anxiety, and stress, with 42% of this generation having received a mental health diagnosis. Furthermore, 91% of Gen Z have reported experiencing at least one physical or emotional symptom related to poor mental health. These factors have a profound impact on both personal and professional lives, making it vital for employers to prioritize the mental health and wellbeing of their Gen Z employees to retain talent, foster a healthy workplace culture, and provide a better work-life balance.

“We understand that the major challenges Gen Z faces when it comes to mental health are the lack of access to high-quality licensed therapists and a lack of interest in traditional therapy. Many young adults, especially those who come from underrepresented backgrounds are disengaged and disappointed with their healthcare options and are seeking alternative solutions that are more relatable and convenient. But they don’t want to sacrifice science-backed care,” said Sarah Adler, Founder/CEO of Wave Life and Clinical Associate Professor of Psychiatry at Stanford University. “We designed Wave Life to bridge this gap, providing a platform for personalized plans and on-demand coaching sessions accessible on the phone.”

Wave Life is a mental health platform that utilizes the latest in brain science, technology, and human connection to make emotional wellbeing accessible and affordable for everyone. Gen Z is signaling that therapy is not for everyone — either it is unaffordable to find high-quality care or it isn’t in line with a generation that wants personalized, easy access. Wave’s National Board Certified Health and Wellness Coaches provide convenient on-demand coaching and support. Additionally, the Wave app provides ongoing measurement that encourages introspection and vulnerability, helping users to understand themselves better. The app features personalized interactive content that helps users understand the science and psychology behind their actions and feelings, along with science-backed quizzes to determine emotional strengths and identify areas that need attention. For employers, this multi-tiered, stepped-care approach can help their employees learn skills that lead to better communication, engagement, and an increased sense of belonging in the workplace, resulting in more satisfied workers.

With recent reports indicating that 40% of Gen Z employees are opting to leave their current job situations, CEOs and HR professionals need support with retention tactics. “Gen Z has a distinct perspective on the importance of emotional wellbeing and considers it an integral aspect of their overall health. They evaluate companies on their level of commitment to employee mental health. Our customers have reported that the Wave benefit has assisted them in attracting potential employees,” said Dr. Adler.

“We are thrilled to support Wave Life in providing a differentiated, science-backed platform that caters to the needs of Gen Z in the workplace. Sarah Adler and the Wave Life team are uniquely suited to address the mental health challenges faced by this demographic, who are not well-served in the market despite the tremendous demand for mental healthcare,” said Eric Epstein, Principal at Santé Ventures. “Wave Life has the potential to transform the way we approach mental health by increasing access and engagement, solving the significant supply/demand issues in mental healthcare delivery, and providing a measurement-based and clinically-validated platform. We are beyond excited to be a part of that positive change.”

About Wave Life:
Wave Life is the science-backed mental health platform combining brain science, technology, and human connection to make the process of dealing with emotions and feelings more personal, more usable, and more effective. Created by clinical psychologist Dr. Sarah Adler, Clinical Associate Professor of Psychiatry at Stanford University, the Wave Life platform supports Gen Z in and out of the workplace with affordable, accessible, and relatable mental health support. To learn more, visit www.wavelife.io.

About Santé Ventures:
Founded in 2006, Santé Ventures is a specialized healthcare and life sciences investment firm with approximately $800M in capital under management. The firm invests in early-stage companies developing innovative new medical technologies, biotechnologies, and digitally enabled healthcare services. Recent Santé successes include Farapulse (Boston Scientific), Claret Medical (Boston Scientific), TVA Medical (Becton Dickinson), Millipede Medical (Boston Scientific), Molecular Templates (MTEM), AbVitro (Celgene), and Explorys (IBM Corp). Santé invests nationally and has offices in Austin, TX, and Boston, MA. For more information, please visit www.sante.com.

Contact:
Tara Wagner,
[email protected]

SOURCE Wave Life, Inc.

Funding enhances Overhaul’s platform spanning visibility, risk, compliance, and insurance solutions to help safeguard cargo and improve efficiencies

AUSTIN, Texas, March 7, 2023 — Overhaul, a software-based supply-chain visibility, risk, compliance, and insurance solution for the world’s leading brands, today announced $73 million in new growth capital including $38 million in equity and $35 million in non-dilutive debt. Growth equity investor Edison Partners led the investment with participation from strategic investors eGateway Capital, StepStone Group, and TRM Ventures. Stifel Bank provided the debt financing.

Overhaul will deploy the capital to expand globally, enhance products, and fund the recent acquisition of security services provider SensiGuard—a deal that firmly establishes Overhaul as the global leader in in-transit supply chain risk management. Previous investors Abbey International Finance, Avanta Ventures and Macquarie Capital also participated in the round.

“This latest growth financing positions Overhaul to be a front runner as a profitable business in real-time visibility and risk management with a fraction of capital but at a similar scale to unicorns in the space,” said Barry Conlon, CEO and Founder of Overhaul. “The funding is also a validation of Overhaul’s commitment to transforming supply chain visibility and risk management and our strategy in the fluctuating LogTech market.”

Overhaul is expected to track more than $1 trillion in total moving cargo this year. The company has a 96% recovery rate for FTL cargo theft and an 80% loss ratio reduction as compared to the insurance industry benchmark. Overhaul operates globally and has more than 600 employees.

“Our US customers receive exponential savings of up to 60-65% reduction in in-transit cargo insurance costs, and we expect even higher savings in other regions of the world,” said David Broe, COO of Overhaul. “Our combined visibility plus risk management technology offering together with our participation on the insurance transaction positions us in a unique tier of the market. Our business model now stands to make orders of magnitude on our unit economics, creating a triple win for insurers, shippers, and Overhaul.

“Real-time visibility and responsive risk management gives Overhaul a distinct advantage among supply chain SaaS providers. We’re extremely impressed with Barry and the executive team’s ability to deliver innovative enterprise-class solutions that adapt to complex cargo needs while showing discipline in capital deployment,” said Ryan Ziegler, General Partner at Edison Partners, who led the initial and follow-on investment. “We look forward to helping Overhaul expand their breadth of capabilities to bring greater security to the global supply chain.”

“Overhaul has assembled a world-class team with seasoned industry executives and a deep bench of talent with unmatched experience providing supply chain visibility and security solutions to protect high-value shipments,” said Joshua Awad, Partner, eGateway Capital. “We believe the way Overhaul combines technology, which absorbs data from disparate sources in real-time to make informed, actionable decisions, with best-in-class managed services, is a true differentiator and sets them up for continued success in a market leading position.”

Global supply chain disruptions and volatile markets are creating strong demand for solutions that can stop disruptions before they occur. Unlike providers that focus on on-time arrival performance, Overhaul’s visibility, risk management and prevention capabilities give companies a real-time view into their supply chain so they can manage risk more effectively and reduce losses while improving overall performance.

“Overhaul is providing a unique combination of supply chain visibility and risk management to some of the largest companies in the world, and we are proud to help support its impressive growth,” said Alan Faulkner, Director at Stifel Bank.

In 2022, Overhaul was recognized as an Austin Inno Top Workplace, Inc. 5000 Fastest-Growing Private Company, Deloitte Technology Fast 500, G2 Supply Chain Visibility Grid, and as a Challenger on the Gartner Magic Quadrant for Real-Time Transportation Visibility Platforms. 

About Overhaul

Founded in 2016 and with offices around the world, Overhaul is the only device-agnostic supply chain visibility and risk management software company. As the global leader in in-transit supply chain risk management, Overhaul transforms real-time visibility into risk management, compliance, and insurance solutions for its partners. Its software-based approach offers high configurability and efficient time-to-value to supply-chain organizations without heavy tech. Overhaul is a trusted provider for Fortune 100 companies moving freight globally across industries, such as pharmaceutical and healthcare, technology, logistics, and food and beverage. Customers include Microsoft, Bristol Myers Squibb and many others. For more information, visit over-haul.com, and follow them on LinkedIn, Twitter, and Facebook.

SOURCE Overhaul