Fund to Support Management in Executing Upon Growth and Transformation

CHICAGO, May 23, 2023 — GTCR, a leading private equity firm, today announced the closing of GTCR Fund XIV (“Fund XIV” or the “Fund”), with aggregate commitments of $11.5 billion. The Fund, which had an initial target of $9.25 billion, reached its hard cap. The Fund includes total limited partner commitments of $11.0 billion and a commitment from GTCR of approximately $500 million. The predecessor fund, GTCR Fund XIII, was raised and initiated in 2020 with aggregate commitments of approximately $7.9 billion.

The Fund received strong support from limited partners in prior GTCR funds, many of whom have invested with the firm for decades, as well as several new investors. The diverse Fund XIV investor base includes leading global endowments and foundations, public and corporate pension plans, sovereign wealth funds, financial institutions and private wealth. 

Consistent with GTCR’s investment approach, The Leaders Strategy™, Fund XIV will expand the firm’s capacity to partner with exceptional management leaders who have strong track records of value creation to identify, acquire and build market-leading companies in its core industry domains of Healthcare, Technology, Media & Telecom, Business & Consumer Services and Financial Services & Technology. GTCR’s investment approach emphasizes transformational growth to build better businesses with a long-term orientation. 

On behalf of the firm, Dean Mihas and Collin Roche, Co-CEOs of GTCR, commented:

“We appreciate tremendously the support from our limited partners. That support is invaluable to us in working with our management partners to build great businesses through transformational growth and add-on acquisitions. This committed equity capital of Fund XIV positions GTCR and its investment teams with the resources to invest through periods of uncertainty and varied economic conditions. 

For over four decades, GTCR’s approach has been to build deep domain expertise and broad executive relationships in our core industries. This approach enables us to partner with and support high caliber, experienced management leaders in pursuing opportunities for transformation, including corporate carve-outs, transformational mergers and growth through acquisition strategies. We also continue to build GTCR’s organization, growing our team, increasing our sourcing efforts and enhancing our ability to support management teams as they grow their businesses. We believe that our differentiated strategy, our high-quality and experienced team, and our committed capital resources position us to capitalize on unique opportunities in the current environment.”

“We are grateful for the confidence that GTCR’s limited partners have demonstrated in our team and in our strategy. We are focused on providing consistent, outstanding returns for our investors across economic environments, with a continued focus on alignment and transparency,” stated Jodi Rubenstein, Managing Director and Head of Investor Relations.

Kirkland & Ellis served as legal advisor to GTCR.

About GTCR:

Founded in 1980, GTCR is a leading private equity firm that pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through organic growth and strategic acquisitions. GTCR is focused on investing in transformative growth in companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications sectors. Since its inception, GTCR has invested more than $24 billion in over 270 companies, and the firm currently manages more than $35 billion in equity capital. GTCR is based in Chicago with offices in New York and West Palm Beach. For more information, please visit www.gtcr.com. Follow us on LinkedIn.

GTCR Contacts

Investor Relations
Jodi Rubenstein
(312) 382-2202
[email protected]

Media Relations
Andrew Johnson
(212) 835-7042
[email protected]

SOURCE GTCR

CINCINNATI, May 23, 2023 — Amify (goamify.com), a leading provider of technology-enabled Amazon optimization and advertising solutions, has closed its Series B funding round with a total of $10 million in investment. This round of fundraising was led by strategic, growth-oriented investors including Mercury Fund, Cincy Tech, and SAAS Ventures along with participation from several undisclosed angel investors. 

This partnership enables Amify to fast-track its strategic advantage across the e-commerce marketing and media landscape by enhancing the company’s proprietary marketplace optimization platform and to further increase investment in their team, allowing them to cater to the growing demand of e-commerce marketplaces.

“We are delighted to have closed our Series B funding round and are excited about the opportunities it presents for our company and our clients,” said Amify’s CEO, Chris Mehrabi. “With this funding, we will continue to invest in our technology and team, so we can better serve growing brands and deliver business success on Amazon.”

Today’s announcement comes on the heels of continued growth on e-commerce marketplaces. With Amazon becoming increasingly dominant, businesses are continually searching for ways to optimize their presence and remain ahead of the competition. Amify has been at the forefront of this trend, leveraging its innovative technology and an experienced team to assist companies of all sizes to maximize their e-commerce potential Amify excels in leveraging its deep understanding of Amazon to deliver tactical excellence through real-time monitoring of pricing, advertising performance, and competitor activities. With advanced software tools and meticulous processes, Amify provides unparalleled visibility into Amazon operations. Their real-time monitoring capabilities optimize pricing strategies and enhance advertising performance. Through deep analytics, Amify uncovers valuable insights, guiding informed decisions for inventory management, product positioning, and marketing tactics. This comprehensive approach enables businesses to harness Amazon’s full potential, ensuring success in the competitive marketplace.

As part of their commitment to building a world-class team, Amify is also pleased to announce the appointment of two key executives. Chris Mehrabi, who has served as Amify’s Chief Product Officer, will take on the role of Chief Executive Officer (CEO). Christine McCambridge, formerly Senior Vice President of Delivery, has been promoted to Chief Operating Officer (COO). Ethan McAfee, Amify’s founder and former CEO, has been named Executive Chairman and will continue to serve on the Board of Directors.

“Chris Mehrabi and Christine McCambridge have been instrumental in Amify’s growth and success to date, and we are excited to see them take on expanded leadership roles,” said Ethan McAfee. “Their expertise and strategic vision will be critical as we continue to grow and evolve our services to better serve growing brands on Amazon.”

As CEO, Chris Mehrabi will oversee the overall direction of the company, including its product development and strategic initiatives. His experience in building and scaling successful high growth companies and products will be key to Amify’s future growth.

“I am honored to take on the role of CEO and lead Amify through our next phase of growth,” said Chris Mehrabi. “I look forward to continuing to work with our talented team to provide innovative solutions that continue to push brands further.”

As COO, Christine McCambridge will be responsible for overseeing the company’s operational functions, including delivery, customer success, and support. Her deep knowledge of Amify’s services and commitment to client satisfaction will ensure that the company continues to provide the highest level of service to their clients.

“I am thrilled to be taking on the role of COO and working alongside Chris and the rest of the team to drive Amify’s continued success,” said Christine McCambridge. “I am committed to ensuring that our clients receive the best possible service and support, and I look forward to helping them achieve their goals on Amazon.”

About Amify

Amify, a venture-backed and two-time Inc. 500 award winner, offers a turnkey solution that allows brands to maximize their potential on the Amazon marketplace. At the core of their approach is a proprietary marketplace optimization platform using the latest data analytics, machine learning, and artificial intelligence technologies that provide their clients with unparalleled insights into their Amazon performance, as well as automated optimization and advertising solutions that are tailored to their unique needs and goals. Using a customized end-to-end strategy, Amify has partnered with hundreds of brands on Amazon helping them adapt to the ever-changing e-commerce landscape.

SOURCE Amify

Faye’s proactive and holistic travel insurance product has already delivered unmatched value for travelers embarking from the U.S., resulting in widespread adoption, consistent 5-star reviews and a significant number of customers already traveling with Faye multiple times in under a year.

Faye expects to quadruple its revenue in 2023 alone, having earned millions in premiums in its first year in the market. The company also plans to more than double its pool of travel advisors and distribution partners which is already in the hundreds.

The funding news comes shortly after the company launched its Travel Advisor Portal, a one-stop-shop where travel advisors and agencies can easily offer, learn about and manage travel insurance with Faye. In addition, the company released a newly developed API to enable seamless integration with travel distributors who wish to offer a new level of travel protection to their customers, fully embedded into their offerings.

Faye Co-Founder & CEO, Elad Schaffer: “Faye fundamentally views travel insurance differently. Until Faye, travel insurance was often thought of as a reimbursement service. Faye’s approach combines travel insurance with real-time assistance, trip alerts, a 24/7 concierge and even financial support. Our role is to help ensure that you have a smooth adventure that’s memorable for the right reasons. We’ve built an offering that travelers will want to use for life, so bringing Faye along is just as obvious as bringing your passport. This approach is working: we continue to see rapid growth in travelers using Faye, and coming back for more – month over month.”

The boom in travel insurance purchases across the industry supports what will be an incredibly busy season of summer travel. Faye anticipates continued consumer frustration – from crowded airports to staff shortages – and thus an increase in trip protection purchases and reliance on providers that go the distance to offer both insurance and around-the-clock assistance.

Sidra Ahmed, Investment Director, Munich Re Ventures: “With the end consumer in mind, Faye provides transparent, digitally-integrated comprehensive coverage, and a real-time approach to managing the many potential hiccups that can happen on a trip,” says Ahmed who has joined Faye’s board of directors. “Faye has successfully married the worlds of travel, insurtech and fintech to seamlessly enable consumers to protect their travel investments. We are excited to join the Faye team on their journey (pun intended).”

Mike Nelson, former CEO, Global Travel Insurance at Allianz: “Travel insurance is a fast-growing industry with evolving needs in the areas of customer experience, product relevance and digital innovation. The team at Faye has impressed me with their vision and accomplishments and has already attracted enormous interest from partners and travel distributors, just one year in the market, and amid economic uncertainty; that’s no easy feat. It was a no-brainer to deepen my support of this top-notch team and product, going from advisor to both advisor and investor.”

Faye has made additional enhancements to its offering since its initial launch, releasing new coverage add-ons including Adventure & Extreme Sports and Vacation Rental Damage Protection. Now available in 48 states, including New York, California, Florida and Texas, Faye plans will soon be available nationwide.

Faye is the second startup founded by serial entrepreneurs and travel enthusiasts Elad Schaffer (CEO) and Daniel Green (CTO). In the coming months, the duo plans to dedicate this capital injection to fuel growth, develop new insurance offerings, support scale through automation and seamless integrations, and forge new partnerships with top brands and distribution partners.

Faye’s robust protection can cover travelers’ flights, hotels, health (including pre-existing conditions), luggage, and even their pets – all via an app on iOS or Android that sends real-time proactive alerts, provides 24/7 access to customer experience specialists, enables users to file claims digitally, and quickly pays for approved claims via electronic transfers to Faye Wallet, its digital debit card that can be added to Apple Wallet or Google Wallet. Thanks to Faye Wallet, travelers can also receive speedy reimbursements for travel inconveniences (such as delayed bags and flights) and instantly use funds to purchase what they need most rather than paying out of pocket.

About Faye

Faye is redefining insurance with the first 100% digital, consumer-centric travel insurance for Americans enabling smarter, faster assistance and claims resolutions. Faye’s whole-trip protection, coupled with its proprietary technology, provides 24/7 immediate support anywhere in the world, quick reimbursements and an app where you can do it all – from covering your trips to filing claims. Learn more at www.withfaye.com.

About Munich Re Ventures (MRV)

Munich Re Ventures (MRV) is the venture capital arm of Munich Re Group, one of the world’s leading providers of reinsurance, primary insurance, and insurance-related risk solutions. With more than $1 billion in assets under management, MRV invests in the most innovative start-ups transforming the future of risk and risk transfer. MRV’s experienced investors are financially-driven while focused on the strategic interests of Munich Re and the broader insurance industry. MRV works closely with Munich Re Group businesses across the globe to fund and partner with the best emerging companies developing new technologies and business models for tomorrow’s world.

Faye travel protection plans include insurance benefits underwritten by United States Fire Insurance Company.  Zenner Insurance Services, LLC is the licensed producer of Faye travel protection plans. Zenner Claims Administrator LLC and Travel Insured International are the claims administrators for the travel protection plans.

Photo – https://mma.prnewswire.com/media/2081818/Image.jpg
Logo – https://mma.prnewswire.com/media/2081819/Faye_Logo.jpg

Contact:
Lauren Gumport
VP of Communications
[email protected]

SOURCE Faye

• Impact Fund II, the latest in Hamilton Lane’s flagship impact series, closed on $370 million in capital commitments; growth of more than 375% over prior fund
• Total platform assets focused on sustainable investment strategies increased by more than $850 million since the firm began fundraising for Impact Fund II in early 2021
• Hamilton Lane is emerging as a leader in sustainable and impact strategies as these themes grow throughout the private markets

CONSHOHOCKEN, Pa., May 23, 2023 — Leading private markets investment management firm Hamilton Lane (Nasdaq: HLNE) today announced that since early 2021, it has raised more than $850 million of impact and sustainable capital, including the final closing of Hamilton Lane Impact Fund II (“Fund II” or “the Fund”). This final close brings total commitments to the Fund to $370 million, more than 3.75 times larger than its predecessor fund. In addition to the capital raised directly by the Fund, during the same period Hamilton Lane also raised over $500 million of sustainable-focused investment capital within separate accounts as part of its broader sustainable investment platform.

Fund II is a closed-end investment vehicle that aims to generate attractive private equity returns alongside positive social and environmental impact. The Fund invests in businesses around the world with a focus on clean energy transition, sustainable processes, health and wellness and/or community development. Leveraging Hamilton Lane’s broad network and extensive platform of deal flow and GP relationships, Fund II is focused on making direct investments across geographies and strategies—including buyout, growth, late-stage venture and real assets.

The Fund has made a total of nine investments thus far, with a specific emphasis on growth investments that leverage transformative technologies, innovation and efficiency. Initial investments have been within varied sectors including products focused on: smart and efficient cities; online workforce training and education; design and manufacture of wind turbines and energy storage systems; and carbon tracking and management. Although not necessarily indicative of future results, the Fund has had strong performance out of the gate, breaking the J-curve in just three quarters. Additional pipeline opportunities across the platform remain plentiful, with 2023 deal flow tracking at 30% above the record deal flow numbers reviewed over the same period in 2022.

David Helgerson, Managing Director and Co-Head of Impact, commented: “Across our sustainable investment platform we are seeing a broad and diverse spectrum of investment opportunities in companies that offer compelling economic solutions to the problems of the world today. Our team is focused on investing in innovative businesses that are at an inflection point in their growth and that seek to deliver positive environmental and social outcomes.”  

Andrew Durante, Product Specialist for the Hamilton Lane Impact Platform, said: “This is an exciting time in the impact market, with strong investor interest and record deal flow within the strategy. We are thankful for the continued commitment and support from our terrific base of LPs from around the world, as we now turn our focus to leveraging Hamilton Lane’s unique access and platform to invest in opportunities that aim to drive meaningful impact alongside strong returns.”

Hamilton Lane has been actively executing on impact investment programs for two decades, and as of 12/31/22, manages more than $2.9 billion in impact strategies. The platform continues to generate meaningful impact, including over 10 million metric tons of CO2e reduced or avoided, and is an extension of Hamilton Lane’s broader private markets investment platform, which includes nearly $832 billion in assets under management and supervision as of 12/31/22.

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 nearly $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/.

Statements contained in this release that are not historical facts are based on current expectations, estimates, projections, opinions and/or beliefs of the Fund’s general partner.  Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon.  Moreover, certain information contained in this release constitutes “forward-looking” statements, which can be identified by the use of forward-looking terminology such as “may,” “will,” “seek,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology.  Due to various risks and uncertainties, actual events or results or the actual performance of the Fund may differ materially from those reflected or contemplated in such forward-looking statements.

SOURCE Hamilton Lane

• Pioneering platform to generate novel therapies with potential to treat a wide range of diseases
• Financing led by Science Creates Ventures and Meltwind to fund development of the platform and initial product candidates

BRISTOL, England, May 23, 2023 — Scarlet Therapeutics (“Scarlet”), a leader in red blood cell-based therapeutics, announces today that it has raised seed funding from Science Creates Ventures and Meltwind to enable it to advance development of its pioneering platform and build a pipeline of novel therapies to treat rare diseases.

Therapeutic red blood cells (tRBCs) are very similar to standard red blood cells but carry additional proteins within them to provide a therapeutic benefit. Red blood cells have pervasive reach throughout the body and a long life of up to 120 days, and expressing therapeutic proteins inside the tRBCs keeps them hidden from the immune system. Previous attempts to develop therapeutic red blood cells have been hindered by the level of therapeutic proteins contained in the red blood cells, thus impacting efficacy, and the technical constraints around manufacturing these therapies.  Scarlet’s technologies aim to address these issues by ensuring a high level of therapeutic proteins inside the tRBCs, enabling more efficacious and thus effective therapies and improving the manufacturing by being able to generate the tRBCs from cell lines rather than from donated stem cells.  

Scarlet was founded by world renowned blood scientists Professor Ash Toye and Professor Jan Frayne, at the University of Bristol, UK, following their decades of research in this field.  This includes their work on the ground-breaking RESTORE studyⁱ run by NHS Blood and Transplant, with the Universities of Bristol and Cambridge and other partners, which is investigating transfusion of lab-grown blood into patients. Chief Executive Officer, Alistair Irvine, is a scientist and experienced biotech and medtech executive who has worked in the industry for almost three decades.  

Scarlet is initially targeting two rare metabolic diseases hyperammonemia and hyperoxaluria. Hyperammonemia is where patients can’t remove toxic ammonia from their system, leading to a range of neurological symptoms and, in severe cases, life-threatening complications. Urea cycle disorders, one of the causes of hyperammonemia, occur in one in 250,000 live births in the US and one in 440,000 live births internationally. For people in the US with urea cycle disorders, there is an 11-year survival rate of around 35% for those who develop hyperammonemia early in life.ⁱⁱ

Hyperoxaluria is a condition where there is too much oxalate in the urine and is either caused by a rare inherited disorder of the liver (primary hyperoxaluria) or where excess oxalate is absorbed into the gastrointestinal tract and then excreted in the urine (secondary hyperoxaluria). It can also be caused by severe liver diseases such as cirrhosis.

The platform also has the potential to treat other metabolic diseases requiring enzyme replacement therapy, as well as cancer and autoimmune diseases.

Alistair Irvine, Chief Executive Officer of Scarlet Therapeutics, said: “Our game-changing therapeutic red blood cell-based technology is a new modality to treat targets of high value and unmet need. tRBCs have unique qualities; not only are they able to reach all parts of the body, delivering therapeutic benefit to where it is needed, but they are enduring – as their predicted 120 day long life will allow dosing every 2-3 months. Because the proteins are hidden inside the therapeutic red blood cell, they are also shielded from the immune system. Our approach allows the cells to be maximally loaded with therapeutic proteins without damaging the properties of the cells and so should be more effective. This funding enables us to further develop our technology to offer patients with debilitating health conditions more effective, longer-lasting treatments.”

Harry Destecroix, Managing Partner of Science Creates Ventures, said: “We are passionate about creating and backing great companies and are proud to invest in Scarlet Therapeutics. The technology platform is based on revelatory scientific research from Prof. Toye, Prof. Frayne, and their team. It is truly ground breaking with the potential to revolutionise how we treat disease.”

Jonathan Milner, CEO and Executive Director of Meltwind, said: “This new therapy modality could make a real difference to patients with a wide range of diseases, particularly metabolic disorders. Millions of people are affected by these life-threatening conditions caused by the build-up of toxic by-products in the body.”

About Scarlet Therapeutics

Scarlet Therapeutics is developing a unique platform that generates novel red blood cell-based therapeutics to potentially treat a wide range of diseases. Initially targeted at the rare metabolic diseases, hyperammonemia and hyperoxaluria, this approach could also be used more broadly to target other metabolic diseases, cancer and autoimmune diseases. These therapeutic red blood cells (tRBCs) are very similar to standard red blood cells, having many unique qualities compared to systemic administration of therapeutic protein, including pervasive reach throughout the body, a long life and the ability to carry the active proteins within the tRBC, thereby shielding them from the immune system. Born out of more than a decade of research at the University of Bristol and its learnings from the RESTORE clinical study, Scarlet also has an exclusive commercial licence for the widely used BEL-A cell line, which provides an alternative platform technology for production of red blood cells.

ⁱ https://www.bristol.ac.uk/news/2023/march/restore-trial.html#:~:text=(1)%20RESTORE%20is%20a%20clinical,in%20Red%20Blood%20Cell%20Products.

ⁱⁱ https://my.clevelandclinic.org/health/diseases/24065-hyperammonemia#:~:text=For%20people%20who%20have%20severe,%25%20and%2023%25%2C%20respectively.

SOURCE Scarlet Therapeutics

LOS ANGELES, May 23, 2023 — r.e.m. beauty, the award-winning beauty brand founded by multi-talented Grammy winner, singer, and actress Ariana Grande, announced a strategic investment led by Sandbridge Capital, a leading consumer-focused private investment firm that exclusively partners with high-growth global brands. This partnership represents a compelling opportunity to optimize r.e.m. beauty’s global potential through continued product innovation, talent acquisition, and geographic expansion to support the brand’s surging global demand. The investment also included participation from Strand Equity and long-term Grande collaborators HYBE America, Live Nation Entertainment and Universal Music Group.

Founded in 2021, r.e.m. beauty creates high-performing and innovative clean cosmetics that empower self-expression, creativity, and confidence. Ariana Grande’s r.e.m. beauty was created to empower people with the tools they need to bring their most vivid, limitless, and creative dreams to life. From color cosmetics to treatment and complexion products, the clean, vegan, and cruelty-free brand offers an inclusive range of shades and products accessible to all and is newly PETA certified. Lauded by consumers and the editorial community, r.e.m. beauty’s star products have sold out multiple times since launch. The brand has earned many accolades to date, including Allure’s “Best Mascara” within its annual Best of Beauty Awards, Allure’s Reader’s Choice for “Best New Brand,” and “Best Liquid Eyeliner” within Cosmopolitan’s 2023 Holy Grail Beauty Awards. r.e.m. beauty has also built a loyal community of beauty aficionados, dubbed ‘The Flight Crew,’ enabling the brand to engage with content creators across multiple social platforms resulting in viral product moments such as the best-selling Lustrous Liquid Eyeshadows and Essential Drip Lip Oils.

r.e.m. beauty is available on rembeauty.com and currently distributed exclusively at ULTA  Beauty in the United States,  Sephora across Europe, and Selfridges in the UK. The brand will continue to focus on its core markets, with further expansion plans to be announced.

“This has been a truly inspiring time for me as a founder, turning my passion for art, self-expression and makeup into reality and watching r.e.m. beauty find its wings, especially now during this new era for the brand. I’m thrilled to have these amazing partners join us at this time, supporting our vision and expansion so that fans worldwide can continue to grow with us and enjoy our products. This next chapter could not be more exciting, and I can’t wait for everyone to see what is yet to come.” said Ariana Grande, Founder of r.e.m. beauty.

“I joined Ariana and r.e.m. beauty because I believe in both Ariana’s overall vision and the brand’s fundamental values, which will be at the core of everything we do,” said Michelle Shigemasa, recently appointed CEO of r.e.m. beauty. “This bespoke partnership with Ken Suslow and the Sandbridge team opens a world of opportunities for r.e.m. beauty to supercharge our growth through focused investment and further scale r.e.m. beauty’s already highly engaged audience of beauty enthusiasts. The best is yet to come!”

“r.e.m. beauty has earned the trust of the beauty community and consumers alike by creating an impressive best-in-class line of products inspired by Ariana’s compelling mission driven brand vision,” said Ken Suslow, Sandbridge Capital Founder and Managing Partner. “We are thrilled to come together with Ariana and her stellar r.e.m. team in support of the brand’s strong growth trajectory through our global industry network and brand building expertise.”

About Sandbridge Capital
Sandbridge Capital is a private investment firm with offices in Los Angeles and New York that invests exclusively in high growth global consumer brands, including ILIA, Youth to the People, Thom Browne, Peach & Lily, U Beauty, Farfetch and Rossignol. Since its founding with the backing of an iconic group of consumer industry operators and advisors, Sandbridge has been strategically partnering with modern brands across the beauty, luxury, health and wellness, and disruptive consumer-based technology segments. For more information regarding Sandbridge, please visit www.sandbridgecap.com.

Harris Williams LLC served as exclusive financial advisor to r.e.m. beauty on the strategic investment. Kleinberg, Kaplan, Wolff and Cohen, PC, served as legal counsel for r.e.m. beauty and Greenberg Traurig, LLP served as legal counsel to Sandbridge Capital

For more information, please visit www.rembeauty.com.

Media Contact 
[email protected]

SOURCE r.e.m. beauty

SAN DIEGO, May 23, 2023 — eSUB Construction Software, a leading provider of cloud-based construction project management software, is pleased to announce the closing of a growth equity funding round driven by strong momentum surrounding the recent launch of its new version of eSUB Cloud. Investment firms Catalyst Investors and Revolution Ventures, which are existing investors in eSUB, led the round. This new injection of capital will enable eSUB to expand its outreach and promote its user-friendly software to a wider audience of subcontractors. 

eSUB Cloud is an easy-to-use tool designed specifically for commercial construction subcontractors. By providing a user-friendly set of project management tools, eSUB empowers subcontractors to quickly streamline their operations, improve collaboration and increase productivity. The platform features a highly intuitive user interface, making it easy for teams of all sizes and expertise to adopt the software and maximize its benefits.

“We are excited by the enhancements eSUB has made in its technology and improved user experience,” said Brian Rich of Catalyst Investors. “We believe the newest version of eSUB Cloud will be a game changer for trade contractors, significantly accelerating the digital transformation of their business operations.”

“We are thrilled to close this funding round, which will allow us to accelerate the growth of our eSUB Cloud platform and enhance our ability to support subcontractors in the commercial construction industry,” eSUB Construction Software CEO Erich Litch said. “The enthusiasm from our investors is a testament to the value our software brings to the market, and we are excited to accelerate our mission of transforming the way subcontractors manage their projects.”

About eSUB

eSUB makes user-friendly software for more productive and smarter trade contractors. Our solution, eSUB Cloud, is the only project management and field-to-office collaboration platform designed specifically for trades to make it easier to manage tasks consistently and efficiently. Thousands of trade contractors have chosen eSUB Cloud and quickly realized that it pays for itself by standardizing project processes, eliminating duplicate effort, and improving field-to-office collaboration. The company is backed by growth equity firms Catalyst Investors and Revolution Ventures.

SOURCE eSUB Construction Software

SAN JOSE, Calif., May 22, 2023 — LEADOPTIK Inc., a Silicon Valley-based medical imaging company today announced that it has raised $5 million in an oversubscribed series seed funding, led by MetaVC Partners with participation from SOSV, Sony Innovation Fund, TSVC, ENEA, Arash Ferdowsi (co-founder of Dropbox), Ray Muzyka (co-founder of BioWare), and others. This injection of capital will allow LEADOPTIK to move to the next stage of product development -including FDA approval – on the path to commercialization.

LEADOPTIK is developing a miniaturized imaging system ushering in a new level of real-time imaging deep inside human lungs and enabling early diagnoses of cancer. Combining novel nanofabrication and innovative optical metamaterials technology, the company’s product will allow surgeons to view objects that are fifty times smaller than what is possible with current imaging systems.

“As a technical CEO, I feel incredibly fortunate to witness how my work on metasurface technology has the potential to enhance people’s health,” said Reza Khorasaninejad, co-founder and CEO of LEADOPTIK. “This funding is a very encouraging step to get us closer to that goal,” he added. “I am thrilled to be part of this exciting journey and grateful for the support of visionary investors who are helping us bring the true benefits of this cutting-edge technology to patients,” said Jiang You, co-founder of LEADOPTIK.

By using proprietary optics made from dielectric metasurfaces, LEADOPTIK has shrunk the optical elements to a size comparable with that of human hair. Due to its unprecedented small size, driven by advanced imaging software, the probe can travel through even the narrowest airways, allowing for real-time imaging and detection of tiny tumors. In addition, the small form factor of LEADOPTIK’s probe allows its integration with biopsy needles, providing real-time guidance during biopsy procedures. This integration is critical for increasing the accuracy of biopsies, which are often performed blindly.

“We look for exciting investment opportunities like LEADOPTIK, where breakthroughs are being made with novel solutions like optical metamaterials,” said Conrad Burke, managing partner at MetaVC Partners.

According to the World Health Organization, lung cancer is responsible for the highest number of cancer-related deaths worldwide. Early detection and diagnosis are vital to a patient’s survival; however, there are currently no effective approaches for diagnosing cancer at its earliest stages.

“We believe that such technology innovation has the potential to transform healthcare, particularly in areas such as cancer diagnostics, where there is a large unmet need for more accurate and timely screening and diagnosis,” said Austin Noronha, Managing Director-US, Sony Ventures. “The work that LEADOPTIK is doing in developing novel imaging technologies to address lung cancer detection is a perfect example of that.”

About LEADOPTIK
LEADOPTIK Inc. is a deep-tech startup based in San Jose, California. This company is building a miniature imaging platform that will deliver an Image-Guided Biopsy for Early Lung Cancer Diagnosis. For more information about LEADOPTIK and its technology, please visit www.leadoptik.com.

About MetaVC Partners
MetaVC Partners is an early-stage venture fund investing in new startup companies using metamaterials for applications in renewable energy, high-performance computing, imaging, and next-generation wireless communications and sensors. More information can be found on MetaVC Partners’ website.

About SOSV
SOSV is a global, multi-stage venture capital firm with $1.5 billion in assets under management. Headquartered in Princeton, NJ, SOSV operates early-stage startup development programs including HAX (hard tech) and IndieBio (human and planetary health), and Orbit Startups (emerging markets) programs. More information can be found at www.SOSV.com

About Sony Ventures Corporation
Sony Ventures Corporation manages Sony Innovation Fund (SIF), which invests in all stages of emerging technology companies as well as in startups solving global environmental challenges.  SIF engages with pioneering startups to help fuel the development of disruptive technologies, launch new businesses, and contribute to the environment while seeking return on investment.  Sony Ventures Corporation, a wholly owned subsidiary of Sony Group Corporation, is headquartered in Japan.

About TSVC
Founded in 2010, TSVC (formerly TEEC Angel Fund) is proud to be the first early-stage deep tech-focused venture capital firm founded by Tsinghua alumni in Silicon Valley. Over 13 years of operation, TSVC has invested in over 200 startups and has been ranked in the top decile of early-stage funds in the US. With top domain expertise and extensive startup experiences, our partners are bringing distinctive value-add to our entrepreneurs along with capital investment.

About ENEA
ENEA Capital is an “operator-driven” venture capital firm focused on early-stage technology companies. Website.

SOURCE LEADOPTIK

SAN FRANCISCO, May 22, 2023 — Sort, the platform simplifying Web3 app development, has raised $3.5 million USD in a seed funding round co-led by Lemniscap and The General Partnership, with participation from Alliance DAO, Punk DAO, Orange DAO, Blizzard Fund, Parasol, Red Rooster Ventures, and a number of angels from Coinbase, Gemini, and Snyk.

The funding will go towards expanding the Sort team, advancing the platform’s product suite, and expediting the launch of ‘Sort applications’, the full-stack for writing a UI for a blockchain contract. Today’s announcement serves as the latest milestone in Sort’s mission to onboard the next million developers to the Web3 ecosystem, by creating a platform easy enough for anyone to use, irrespective of skill level.

As a platform for Web3 UI components, Sort is building a user-centric development platform that allows developers to integrate data from smart contracts directly into their decentralized application with only a few lines of code. Users can start with a contract address and get access to a complete developer toolkit for that contract, or simply cut and paste HTML/Javascript code directly into their front end application to see live blockchain data. All data is served in real-time, including push notifications for any contract event.

Before Web3, data was the product and API keys were used to gate access and create revenue, but in the Web3 era, revenue is generated from contract transactions such as coin swaps or NFT transfers. Sort empowers contract authors to entice builders to use their contracts and drive transaction activity, enabling anyone in the contract author’s community to build applications on the contract for free. Using Sort, users can seamlessly query real-time contract transactions, logs, events, function results, and NFT data. The platform also plans to leverage ChatGPT and LLMs to formulate SQL queries for populating UIs.

Sort can be used as a complete backend as a service for decentralized applications, with no additional infrastructure needed. Applications can be hosted on decentralized platforms such as IPFS and Arweave, and access read-only disposable API keys, eliminating the need to manage servers or hardware.

Jason Zucchetto, Co-founder of Sort, said: “Closing this seed round signifies a significant seal of approval for our solution suite from a range of global investment heavyweights. We’re energized at the prospect of supercharging decentralized application development, while working closely with developers to extend more cutting-edge tools to the global community. The funding will give us ample financial runway to expand our product portfolio, add firepower to our team and drive mainstream dApp adoption.”

Roderik van der Graaf, Founder of Lemniscap, said: “Historically, writing decentralized applications has been extremely difficult, requiring intricate design skills and advanced technical know-how. Sort is on a mission to greatly simplify the art of Web3 app development, helping new swathes of ecosystem participants to realize their Web3 visions. The Sort founders are major industry advocates for democratizing dApp development – a vision we at Lemniscap wholeheartedly endorse.”

Anthony Kline, Partner at The General Partnership, said: “The world has already benefited heavily from the power and elegance of blockchain, but the quality of developer tooling has not kept pace. We’re proud to be investing in Sort’s seed round – a team at the forefront of developer tooling, Web3 app development, and the needs of the ecosystem. We’re particularly excited by Sort’s growth pipeline, and their potential to onboard the next million developers to the blockchain.”

About Sort

Sort is a developer platform for Web3 UI components and the easiest way to build Web3 applications. Sort will bring the next million developers to Web3 by creating a platform easy enough for any developer to use. Users can start with a contract address and get access to a complete developer toolkit. By making Web3 development easy and fun, the next wave of web3 applications will take flight via Sort. For more information, visit https://sort.xyz/

About Lemniscap

Lemniscap is an investment firm specialising in investments in emerging crypto assets and blockchain startups. Since its founding in 2017, Lemniscap has funded multiple investments in the crypto blockchain space, on the core belief that blockchain technology will upend traditional business models, resulting in profound changes in the world economy. The Lemniscap team consists of talented people with backgrounds in financial markets, PE/VC, technology and entrepreneurship. For more information, visit https://lemniscap.com/.

Photo – https://mma.prnewswire.com/media/2081468/Sort.jpg

SOURCE Sort