One Peak investment will advance the ubiquity of network assurance, helping organizations to reduce network complexity, assure network automation, and improve network security

NEW YORK, June 29, 2023 — IP Fabric, the market leader in automated network assurance, today announced that it has closed a $25m Series B funding round led by One Peak with the participation of Senovo and Presto Ventures. This will fuel IP Fabric’s mission of making network assurance ubiquitous so that people, businesses, and governments can operate without the exponential risk of network failures or outages.

IP Fabric is a pioneer in network assurance, helping organizations to overcome network complexity, assure network automation, and improve network security. Network assurance is becoming critical for managing private network infrastructure which combined globally is vastly larger than the Internet and forms the backbone of the modern economy. This infrastructure is now the foundation for every part of modern life, from our airports and factories to public utilities and financial systems.

However, rising complexity is making it much harder for humans to understand and manage networks. This makes network automation risky – automation without assurance will lead to unpredictability if organizations cannot see whether automation has had the intended effect, and that it hasn’t negatively impacted the rest of the network. Rising complexity also makes it impossible for organizations to identify and eliminate network vulnerabilities, creating multiple blind spots for attackers to potentially exploit. These challenges have created a perfect storm that is putting network resilience at risk.

“Without network assurance we are leaving network resilience to chance,” comments Pavel Bykov, CEO, IP Fabric. “We’ve seen how network outages can cause businesses and critical infrastructure to grind to a halt, but amidst rising complexity and the need to ensure control in the face of rising cyber threats while adhering to regulatory compliance, enterprises lack the means to assure operations for their entire network end-to-end. IP Fabric delivers the network assurance needed to operate without the exponential risk of network failure or outages while enabling innovation through standardized access to network control data. Organizations must act now because building operational control without a validated baseline provided by network assurance will lead to gaps and unknown unknowns which ultimately cause outages and security incidents that impact people, businesses, critical infrastructure, and governments.”

IP Fabric is an API-first platform that rapidly discovers, models and visualizes complex networks down to the wire, giving end-to-end visibility and control over an organizations’ entire network infrastructure. IP Fabric was recognized as a Gartner Cool Vendor in Network Automation and came 8^th in the Deloitte Technology Fast 50 with a CAGR of 160% over the past 4 years. Today, IP Fabric works with over a hundred enterprise customers globally, including Airbus, Air France, Major League Baseball, Red Hat, HCL Technologies, Avast and Blackberry.

“Enterprise networks are becoming increasingly complex, which makes the requirement to discover, model and visualize large networks a priority,” comments Humbert de Liedekerke, Co-founder and Managing Partner of One Peak. This is especially important, when, as Gartner has reported, only 26% of network leaders maintain accurate network data, massively hindering the effectiveness of automation initiatives for 74% of enterprises. Automation must be assured, secure and able to operate effectively in complex network environments. Enterprises can’t risk automating in the dark – networks are too important for guesswork that could expose vulnerabilities or cause outages. This is why IP Fabric’s unique ability to help enterprises understand, automate, and secure complex networks is so critical to enable the future of network automation.”

Prior seed and Series A investment rounds were conducted with Senovo, Presto Ventures, and Credo Ventures. 

ABOUT IP FABRIC

IP Fabric is a powerful Intent-Based Networking technology enabling modern enterprise network operations. A vendor-neutral, API-first automated network assurance platform, IP Fabric discovers, verifies, visualizes, and documents large-scale networks holistically, reducing costs and resources while improving security and efficiency. Ensure smooth migration and transformation projects while simplifying network planning, testing, and troubleshooting. Eliminate business-impacting inefficiencies and continuously verify policy compliance with a standardized, consumable view of your multi-domain network, end to end. Accelerate and refine programmability, automation, and network analytics with accessible, accurate, and contextualized network data at your fingertips. IP Fabric helps organizations including Airbus, Air France, Major League Baseball, Red Hat, HCL Technologies, Avast, and Blackberry overcome complexity, implement effective network automation, and improve network security. For more information, visit www.ipfabric.io

ABOUT ONE PEAK

One Peak is a leading growth equity firm investing in technology companies in the scale-up phase. One Peak provides growth capital, operating expertise, and access to its extensive network to exceptional entrepreneurs, with a view to help transform innovative and rapidly growing businesses into lasting, category-defining leaders. In addition to IP Fabric, One Peak’s investments include Ardoq, Cymulate, Deepki, DocPlanner, Keepit, Lucca, Neo4j, Orgvue, Pandadoc, Spryker, and many more. To learn more, visit www.onepeak.tech

ABOUT SENOVO

Senovo is an early-stage venture capital firm based in Munich and Berlin that partners with exceptional founders building global B2B SaaS category-leaders from Europe. As European first-mover, the fund invests since 2013 into a new generation of B2B software startups which enable the digitalization of medium and large enterprises. Their focus is primarily on supporting teams working in the areas of process optimization, industry 4.0 and data-enabled solutions. Senovo joins the journey after a company has first revenues in a late Seed or Series A round. Their team of SaaS specialists seek meaningful eye-level relationships and regularly publish their learnings and thought leadership at www.medium.com/senovovc. For more information, visit: www.senovo.vc

ABOUT PRESTO VENTURES

Presto Ventures is a Prague-based investment firm focused on early-stage B2B software startups and online marketplaces led by founders from the CEE region. With over 50 portfolio companies and counting, Presto Ventures stands out as one of the region’s most dynamic venture capital firms. In 2022 alone, they successfully closed 24 new deals. Backed by entrepreneurs, family offices, and exited startup founders, Presto serves as a vital link that connects the flourishing CEE tech ecosystem with major Western markets. Besides IP Fabric, Presto’s notable investments include Cloudtalk, Ready Player Me, Woltair, Oddin, Sharry, Yieldigo, Omofox, Inventoro, Finmap, Okredo, and Zypl.ai. For more information, visit: www.prestoventures.com

SOURCE IP Fabric

The Series B round brings Typeface’s total funding to $165 million to accelerate widespread adoption of its brand-affinitized AI amid significant enterprise demand.

SAN FRANCISCO, June 29, 2023 — Typeface, a generative AI platform for enterprise content creation, announced today a $100M new investment, marking the close of its Series B round, to drive continued growth and innovation. The oversubscribed round was led by Salesforce Ventures with participation from Lightspeed Venture Partners, Madrona, GV (Google Ventures), Menlo Ventures, and M12 (Microsoft’s Venture Fund). With total capital raised of $165 million at a valuation of $1 billion, Typeface is well positioned to rapidly scale its personalized, on-brand generative AI platform to meet the strong demand from enterprises worldwide.

“The transformative potential of AI in content creation is undeniable, but businesses face unique challenges that require enterprise-ready solutions,” said Abhay Parasnis, Founder and CEO at Typeface. “By combining the strengths of generative AI platforms with our brand-specialized knowledge, we have eliminated the barriers for enterprises to harness generative AI. Typeface empowers every enterprise to create high-quality, personalized content that aligns with its unique voice.”

“To make generative AI truly effective in an enterprise environment, it is essential to have a robust solution and a highly experienced team that understands the specific challenges faced by businesses. Typeface represents best-in-class enterprise generative AI with its unique focus on brand personalization, IP ownership, and seamless integration into existing workflows. We are thrilled to invest in Typeface’s talented team and their exceptional vision,” said John Somorjai, Chief Corporate Development and Investment Officer at Salesforce.

Rapid Momentum in Customer Adoption and Product Innovation 

Since its public launch in February 2023, Typeface has gained strong customer interest, from digital-native brands to Fortune 500 companies, across diverse industry segments. Typeface provides a wide range of workflows across departments, including marketing, sales, product, and HR. This trust in Typeface demonstrates its ability to rapidly personalize content at scale while maintaining brand integrity. To further drive innovation, Typeface recently unveiled new features, such as an advanced Image Studio for high-resolution product photography, video-to-text conversion, and selective image editing and regeneration.

“With Typeface, we have unlocked the power to generate thousands of personalized, on-brand images, spanning over multiple diverse markets and significantly reducing our production time to amplify our content factory initiative. Typeface provides us the capability to create a unified ‘one brand’ approach, amplifying our cross-selling opportunities, consistent brand representation across various business units, and the ability to deliver tailored content to each target market,” said David Kang, SVP Digital Commerce & Marketing Solutions at LG Electronics.

Expanding Reach Through Partnerships 
To bring the power of the generative AI ecosystem to enterprises worldwide, Typeface has recently announced new partnerships with Salesforce and Google Cloud. These collaborations will enable Salesforce Marketing GPT, Google Cloud, and Google Workspace customers to create highly customized content within their existing workflows.

“Organizations everywhere are looking to leverage generative AI and data to deliver connected customer experiences across every interaction,” said Stephen Hammond, EVP and GM of Marketing Cloud at Salesforce. “Powered by trusted first-party customer data and generative AI, Salesforce and Typeface’s partnership will help customers deliver contextual, personalized content quickly at scale to increase customer engagement and drive productivity.” 

The Road Ahead

Generative AI represents a breakthrough moment for enterprise work. With its state-of-the-art product, strong customer traction, and unparalleled partnerships, Typeface is poised to drive this transformation for enterprises worldwide. For more information, visit www.typeface.ai. To start bringing your creative ideas to life with Typeface, please reach out to [email protected] or sign up here.

Editor’s note: This press release was co-written with Typeface. Typeface was responsible for generating entire sentences and paragraphs of text, augmenting the human capability to create a more enjoyable, elevated collaboration process.  

Resources

About Typeface 
Typeface is the enterprise-grade generative AI platform to supercharge personalized content creation. By uniting content velocity with brand personalization and control, any enterprise can now create exceptional, on-brand content faster and easier than ever before. We provide industry-first self-serve solutions for complete lifecycle content development, so every employee can craft captivating content with ease, speed, and brand authenticity. For more information, please visit typeface.ai and follow @typefaceai on Twitter, LinkedIn, and Instagram.

SOURCE Typeface

• Significant support from investors including the European Investment Fund
• Fund to invest in first and best-in-class European life science companies in drug development and digital health

STRASSEN, Luxembourg, June 29, 2023 — Vesalius Biocapital, the specialist life sciences venture capital investor, announces the first close of its fourth fund, Vesalius Biocapital IV, securing over €95 million of commitments. The fund has attracted blue chip investors including the European Investment Fund (EIF). Starting immediately Vesalius Biocapital IV is to invest in first and best-in-class European life science companies in drug development and digital health. The goal is to build a well-balanced portfolio of 10-15 companies, providing capital and the Vesalius team’s experience and expertise to support their development.

Now in its sixteenth year, Vesalius Biocapital has a successful track record of backing highly innovative companies and has raised over €270 million from a renowned investor base for its three previous funds. It has completed over 30 investments with lead or co-lead positions and achieved numerous exits through trade sales and IPOs. These include: Forendo, acquired by Organon; Sword Health sold to a group of private equity investors; Apitope acquired by Chinese company Worg Pharma; and Ogeda acquired by Astellas Pharma. With a well-balanced portfolio between drug development and non-drug development investments, Vesalius has a successful track-record of strong and consistent financial performance and has generated significant returns for its investors.

Commenting on the first close, Stéphane Verdood, Managing Partner at Vesalius Biocapital IV said:

“Our successful track record placed us in a strong position to attract high quality investors such as the EIF (European Investment Fund) to Vesalius Biocapital IV. Furthermore, it is fantastic validation of our investment approach and strategy that a significant number of investors in our previous funds are backing us in Vesalius Biocapital IV. This is an exciting time in healthcare; the industry is at a key inflection point between science, technology and medicine, and our investors support our strategy to invest in companies developing innovative first in class products and technologies.”

Guy Geldhof, Managing Partner at Vesalius Biocapital IV, added:

“While our investment focus remains in Europe where we continue to see many high-quality life science companies, we will continue to help our portfolio companies to expand to the US to enable them to achieve optimum valuations and to access the US capital markets. We will also be looking to invest in North American companies that are looking to Europe for development, expansion or access to innovation.”

Marjut Falkstedt, Chief Executive Officer at the European Investment Fund, commented:

“The development of new therapies and digital health solutions are revolutionising the healthcare sector, but these innovations need targeted, dedicated investment. The EIF is glad to partner with Vesalius for its fourth fund, building on a strong track record in the sector, which also aims to channel investment towards underserved areas in the innovation landscape, particularly in southern Europe.”

Vesalius Biocapital IV is targeting €150M and will accept new investors on a “rolling closing” basis until the final closing in 2024.

ABOUT VESALIUS BIOCAPITAL

Vesalius Biocapital (Vesalius), the specialist life sciences venture capital investor, has supported companies active in human health through venture capital funds since 2007. In the sixteen years since inception, the three predecessor funds have raised over €270 million.

The investment portfolio is well balanced between drug development and non-drug development investments and committed to providing capital to science-backed innovation and ambitious entrepreneurs, with a strong focus on exit within five years.

Vesalius Biocapital IV, launched in June 2023, targets first and best-in-class European life science companies in drug development and digital health. The fund secured over €95 million of commitments in a first closing in June 2023, with a target size of minimum €150 million.

The specialist team consists of seasoned life science professionals with healthcare industry, corporate finance and strategy development experience, supporting companies through their growth cycle. The team is based in Europe to explore investment opportunities and valuation potential for the portfolio. Managing Partners include Guy Geldhof, Dr Jean-Christophe Renondin and Stéphane Verdood. Partners include Dr Fabienne Roussel and Olivier Houben. The investment team is complemented by Dr David Cristina and Qasim Zawawi who joined as principals and Dr Hayley French and Dr Stephane Heymans who joined as venture partners.

SOURCE Vesalius Biocapital

Funding Accelerates Development of Robot Technology Powered with Augmented Intelligence

AUSTIN, Texas, June 28, 2023 — Today Contoro Robotics, a company augmenting robot intelligence with AI and teleoperation, announced that it has raised $4.7 million in Seed funding. The round was led by SV Investment with participation from Kakao Ventures, Bass Investment, Future Play, and UT Austin Seed Fund.

Last year, Contoro Robotics raised a $1.3 million Pre-seed round led by Village Global, which is backed by industry luminaries such as Bill Gates, Jeff Bezos, and Mark Zuckerberg. Including Seed Round, Contoro has raised $6M up to date.

“We are excited to announce this investment which will allow us to accelerate the deployment of our augmented intelligence technology,” said Youngmok Yun, CEO and founder of Contoro Robotics. “We’re making headway in the logistics domains and we’re confident diverse industries can benefit from our innovative solutions.”

Contoro Robotics’ technology combines artificial intelligence (AI) with human expertise. AI is used to control the robot in most situations, but humans can intervene when necessary. This approach allows Contoro Robotics’ technology to be used in a wide range of applications, from simple tasks that can be easily automated to complex tasks that require human judgment.

“We believe that Contoro Robotics’ technologies including exoskeleton, haptics, artificial intelligence, teleoperation have the potential to effectively optimize algorithm structures that robot human-like thinks and acts,” said Il-Yong Choi, Ph.D., Investor at SV Investment. “It means that Contoro Robotics’ approach can be applied to a lot of ordinary tasks and then accelerate that robot itself can be much more accessible and affordable in our daily lives.”

Contoro Robotics is currently focused on solving oversea container unloading challenges for warehouse businesses. Contoro robots will help reduce the cost and time of container unloading, and will also improve safety. A pilot program using Contoro Robotics’ technology is scheduled to launch in Q3 of 2023.

About Contoro Robotics (http://contoro.com)
Contoro Robotics is a company developing AI/teleoperation technology that enables robots to be controlled autonomously and remotely from anywhere in the world. The company’s mission is to introduce advanced intelligence to robotic arms by combining AI and human intelligence. This will open a wide range of possibilities for robot usage in a variety of industries such as logistics, manufacturing, and agriculture.

Contact: 

John Cook, [email protected] 

1807 W Braker Ln, STE C500, Austin, TX 78758

SOURCE Contoro Inc.

Prestigious International Annual Awards Program Honors Standout AI and Machine Learning Solutions and Companies

SANTA CLARA, Calif., June 28, 2023 — Roambee, the global real-time supply chain visibility and intelligence provider, today announced that it’d been selected as the winner of the “Best AI-based Solution for Supply Chain” designation in the sixth annual AI Breakthrough Awards program conducted by AI Breakthrough, a leading market intelligence organization that recognizes the top companies, technologies, and products in the global Artificial Intelligence (AI) market today.

Roambee’s cutting-edge AI-powered platform leverages verifiable IoT sensor information to provide unparalleled supply chain intelligence, enabling accurate predictions of business KPIs. With its advanced sensor data analytics, this platform empowers organizations to deliver the right product at the precise time, in the correct place, and in optimal condition.

Roambee’s platform seamlessly integrates real-time IoT sensor inputs with a diverse range of data streams, including carriers, port operations, airport operations, rail operations, traffic, and weather. This extensive data collection is then transformed into invaluable predictive and contextual business signals, insights, and forecasts, such as replenishment triggers, security, and quality compliance predictions. This allows enterprises to effectively address supply chain challenges, automate operations, foster sustainability, and effectively implement successful future growth strategies.

“Our AI platform is founded on premium, firsthand information derived from IoT sensors, enabling it to deliver predictions for supply chain or business KPIs that are 100 times more accurate compared to other Supply Chain AI solutions,” stated Sanjay Sharma, CEO of Roambee. “Roambee’s AI endeavors are centered around establishing a strong foundation of practical forecasts at a time when most supply chain tools prioritize Generative Pre-Trained Transformer (GPT) models, primarily used for text summarization, content generation, and search, which may not faithfully represent reality. The recognition of our AI Breakthrough reinforces our commitment to enhancing the dependability and usefulness of supply chain data for enterprises.”

The mission of the AI Breakthrough Awards is to honor excellence and recognize the innovation, hard work, and success in a range of AI and machine learning-related categories, including Generative AI, Computer Vision, AIOps, Deep Learning, Robotics, Natural Language Processing, industry-specific AI applications and many more. This year’s program attracted more than 3,200 nominations from over 20 different countries throughout the world, with winners including AMD, OpenAI, Microsoft, Bosch, Qualcomm, Palo Alto Networks, SoftBank Robotics, Honeywell, Mercedes Benz, and an impressive list of top companies and startups in the industry.

“At a time when enterprises are looking to build sustainable, autonomous, and resilient supply chains, Roambee’s AI-enabled analytics platform, sensor-based visibility, and innovation provide enterprises with accurate visibility data and intelligence. Congratulations on winning the ‘Best AI-based Solution for Supply Chain’ award,” said James Johnson, managing director of AI Breakthrough. “Most supply chain software platforms, planning tools, and monitoring and tracking solutions lack timely, actionable, direct-from-source data. To truly empower firms to automate their supply chain planning and execution with confidence, there is a critical need for AI solutions built on verifiable visibility. Roambee’s AI-powered platform stands as a proven innovation in this field, delivering unparallel accuracy and reliability in providing the necessary data and insights to optimize supply chain operations.”

About Roambee
Roambee is a supply chain visibility & intelligence provider enabling on-time, in-full, in-condition delivery of shipments and assets anywhere in the world. 300+ enterprises are improving customer experience, service levels, product quality, order-to-cash cycles, business efficiencies, sustainability, and automating logistics with Roambee’s real-time insights & foresights. More than 50 of them are the top 100 global companies in the Pharma, Food, Electronics, Chemicals, Automotive, Packaging & Containers, and Logistics sectors. Roambee’s innovative AI-powered platform, and end-to-end monitoring solutions, deliver reliable business signals built on item-level, firsthand IoT sensor data and non-sensor inputs. The outcome is 70% better multimodal ETAs, OTIF deliveries, 80%+ cold chain compliance, and more, including 4X+ ROI on supply chain asset performance.

About AI Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the AI Breakthrough Awards program is devoted to honoring excellence in Artificial Intelligence technologies, services, companies and products. The AI Breakthrough Awards provide public recognition for the achievements of AI companies and products in categories including AI Platforms, Robotics, Business Intelligence, AI Hardware, NLP, Computer Vision and more. For more information visit AIBreakthroughAwards.com.

Media Contact
Susana Leiser
Warner Communications
[email protected]com
+1 (786) 403-8393

SOURCE Roambee

AUSTIN, Texas, June 28, 2023 — gigaroo, an innovative startup dedicated to empowering GenZ individuals with financial stability, announced today that it has successfully raised $2.5M in pre-seed funding. Since its app launch in early January, the company has garnered a substantial user base of thousands of GenZ individuals and is working with dozens of service industry customers.

Adir Oren, Co-founder & CEO of gigaroo, expressed the company’s commitment to addressing the unique challenges faced by GenZ’s in today’s evolving economic landscape. “At gigaroo, we are devoted to equipping GenZ with the tools, resources, and opportunities needed to thrive financially,” stated Oren. “Our AI-powered app serves as a bridge, connecting GenZ with flexible service industry job options that are aligned with their lifestyle. By providing next-day payments, we enable them to access their earnings promptly and plan for both short-term obligations and long-term goals.”

Looking towards the future, gigaroo has ambitious expansion plans. Oren outlined, “We aim to scale our operations in Austin, Dallas, Miami, Boston, and beyond. Additionally, we plan to establish partnerships with the restaurant’s point of sale and management systems, helping businesses fill their open positions and help them retain their employees. This approach creates a win-win scenario, as GenZ individuals gain the flexible financial stability they seek while businesses reduce turnover, increase profit, and recover and average of over 200K of their annual lost revenue.”

gigaroo, founded in 2022 by Adir Oren and Yair Almagor, renowned Israeli entrepreneurs, is headquartered in Austin, TX, with its research and development center located in Israel. The company plan to raise its seed round in the coming months.

For further information about Gigaroo and its innovative solutions, please contact [email protected] or call 512-333-1979.

Note to editors: High-resolution images and further media assets are available upon request.

SOURCE gigaroo

Led by Highland Europe, this round brings Nothing’s total funding to $250M – just as company crosses 1.5M products sold

LONDON, June 28, 2023 — Nothing, the London-based consumer technology brand, announces a $96M fundraising round led by Highland Europe, with participation from existing investors GV (Google Ventures), EQT Ventures and C Capital, alongside house music supergroup Swedish House Mafia.

With over 450 people across seven offices worldwide, Nothing is here to make tech fun again. Through cutting-edge design, user interface innovation and community collaboration, the company is creating an ecosystem of tech products for the young and creative. These products are thoughtfully built to contribute to a more sustainable future.

In less than three years, Nothing has proven that there is room for a new alternative. In 2022, Nothing’s Phone (1) was regarded as one of the most anticipated tech launches in recent times and showcased in Time Magazine’s prestigious “Best Inventions of 2022” list for its innovative smartphone design. In 2023, Phone (1) received the renowned Red Dot Design Award, along with the rest of Nothing’s current product portfolio, including the true wireless audio devices Ear (2) and Ear (Stick). Looking ahead, the company is gearing up to launch Phone (2) on July 11th. Phone (2) features a lower carbon footprint than its predecessor as a result of the company’s ongoing sustainability initiatives.

Nothing wants to bridge the gap between the company and its users – driving product innovation by delving deeper into consumer insights through its community feedback programs. To further support this goal, Nothing has held two community financing rounds and attracted over 8,000 private investors. Additionally, the company has appointed a community member as a Board Observer, ensuring that user interests remain at the forefront at all times.

“In just over two years, we’ve assembled one of the strongest teams in the industry and sold over 1.5 million devices worldwide,” said Carl Pei, Nothing CEO and Co-founder. “It’s clear that there’s real demand for an innovative challenger in the consumer tech industry, and with this new round of financing, we’ve never been better positioned to realize our vision to make tech fun again.“ 

Highland Europe, a London-based venture capital firm focusing on high-potential technology companies, invested based on Nothing’s success to date and future potential. Partner Tony Zappalà led the recent round and will be joining Nothing’s board.

“We are thrilled to be partnering with Carl and his team, who share our vision of bridging technology with the younger generation,” added Tony Zappalà, Partner at Highland Europe. “In an industry as challenging as this, it has been quite some time since a new company of this scale and ambition has reached this stage, given the difficulty and complexity of surviving in such a competitive environment. We firmly believe that Nothing has something truly distinctive to offer, coupled with an exceptional team. We are enthusiastic about supporting Nothing as they take on the consumer tech giants and challenge the prevailing norms.”

For more information and updates about Nothing, follow the company on Instagram and Twitter, or visit nothing.tech.

About Nothing 

Nothing is here to make tech fun again. Founded in 2020, their debut smartphone, Phone (1), made Time Magazine’s prestigious “Best Inventions of 2022”. Through cutting-edge design and user interface innovation, the London-based company is creating an alternative ecosystem of tech products for the young and creative. Nothing’s products are developed in close collaboration with their community, which includes over 8,000 private investors, and are crafted with sustainability at the forefront.

Photo – https://mma.prnewswire.com/media/2142465/Nothing_Fund.jpg
Logo – https://mma.prnewswire.com/media/2142464/Nothing_logo.jpg

SOURCE Nothing

Data automation leader uses capital infusion to make operational excellence accessible

SAN FRANCISCO, June 28, 2023 — Parabola, a collaborative data tool enabling non-technical teams to automate solutions for manual, spreadsheet-based processes, today announces a $24 million Series B funding round led by OpenView, with participation from existing investors Matrix and Thrive Capital. Additional new investors include Flexport, Webflow, and the founders of Harry’s, Warby Parker, and Allbirds. With this funding, Parabola will expand its product capabilities and grow its team in pursuit of empowering everyone to leverage automation and AI in their daily work, regardless of their technical capabilities.

Parabola provides a solution for businesses beyond hiring more people for every new problem. Instead, non-technical teams can stop doing things manually, and start creating, documenting and sharing reusable workflows. Combining the power of AI with familiar spreadsheet functionality, Parabola enables users to extract, analyze, categorize and experiment with data to solve real use cases.

“For the past few years, we’ve been working with incredible operators at category-defining companies who were drowning in manual work. Using Parabola, they’ve achieved tremendous value nearly overnight by automating the messy processes they thought were un-automatable.” said Alex Yaseen, Founder and CEO of Parabola. “From modern companies like Sonos and Flexport to 90-year-old businesses like NFI that are rapidly transforming, Parabola has helped teams achieve immediate ROI. This new funding means we can help far more companies unlock the latent potential within their teams.”

This funding will allow Parabola to double down on serving its ecommerce, retail, CPG, freight and logistics customers while expanding to new verticals. OpenView’s Blake Bartlett will join the Parabola Board of Directors as part of this investment. Flexport, a worldwide freight forwarder and logistics platform, has invested in Parabola and serves as a valued customer, underscoring the platform’s transformative potential.

“Automation has become a necessity. However, most people are still stuck in spreadsheets and are under-served by the existing technology,” said Bartlett. “When we talked with Parabola’s customers, we knew we had found a company that was bottling magic. Teams using Parabola can actually do more with less – and that’s priority for virtually every business in 2023.”

For more information on how Parabola is shaping the future of data automation and operations, visit https://parabola.io/.

Learn more about Parabola’s pricing options and check out their open roles across all departments.

About Parabola
Parabola is transforming the way companies operate by empowering non-technical teams to automate complex data processes with ease. With powerful collaboration and documentation capabilities, users leverage Parabola’s drag-and-drop interface to access, manipulate, and act on their data, regardless of where it lives. By empowering teams to solve the problems they’re already experts on, Parabola helps businesses of all shapes and sizes improve operations, drive revenue, and ultimately operate with excellence.

Parabola is proud to serve companies like Flexport, Sonos, Uber Freight and Durex and is backed by OpenView Partners, Matrix, Thrive Capital and many other amazing investors. Visit parabola.io to learn more or try the product for free.

Media Contact
Emylee Eyler
[email protected]
317.806.1900 ext. 139

SOURCE Parabola

AMHERST, N.Y., June 28, 2023 — Parkview Health Services, LLC (“Parkview” or “PHS”), an innovative provider of specialized pharmacy services, is excited to announce a strategic growth investment from ArtesRx, LLC (“ArtesRx”), an affiliate of Flexpoint Ford (“Flexpoint”), a private equity firm specializing in investments in the healthcare and financial services industries. The transaction closed on June 23, 2023. 

Flexpoint partnered with experienced pharmacy executive, Dom Meffe, to establish ArtesRx as a new company to acquire, scale and support pharmacy businesses that serve complex patient populations. Mr. Meffe has built and led several successful specialty pharmacies as CEO including ModernHEALTH and CuraScript. He will serve as CEO of ArtesRx and make an investment in the company alongside Flexpoint. “ArtesRx was founded to bring dedicated resources to pharmacy businesses across the country in order to build a national, patient-focused platform that differentiates based on clinical excellence and customer service,” said Dom Meffe, CEO of ArtesRx. “We have been impressed with Parkview’s culture and its deep commitment to the communities it serves, and we are excited to partner with Paul O’Leary and the PHS team in their mission to expand their high-touch service model into new markets.” 

Parkview provides pharmacy services to patients who are treated in group homes, mental health clinics, addiction services provider offices and other care settings. With a patient-centric approach and a reputation for delivering tailored solutions to its customers, PHS is well-positioned for continued growth. The company will remain headquartered in Amherst, New York and continue to be led by CEO Paul O’Leary and the current management team. 

“We are thrilled to partner with ArtesRx and Flexpoint, and we look forward to leveraging their domain knowledge and expertise in growing pharmacy and outsourced pharmacy services businesses,” commented Paul O’Leary. “This new investment not only ensures that we can continue providing our customers and patients with the exceptional care they have come to expect from our team over the past 38 years, but also enables us to accelerate growth both organically and through complementary acquisitions.”

“We couldn’t be more excited about partnering with Paul O’Leary and the Parkview team and establishing ArtesRx with Dom Meffe,” said Michael Fazekas, Managing Director at Flexpoint. “We have been actively searching for the ideal starting platform for ArtesRx and have found it in Parkview. Parkview has built a strong position in its markets through its differentiated ability to serve complex patient populations and help deliver improved clinical outcomes, and we believe Parkview’s demonstrated care model can address unmet needs in other markets across the country.” 

Lincoln International LLC served as financial advisor and Taft Stettinius & Hollister LLP served as legal counsel to Parkview Health Services. Kirkland & Ellis LLP and Bass, Berry & Sims PLC served as legal counsel to Flexpoint Ford. 

About Parkview Health Services

Parkview Health Services, LLC (“PHS”), based in Amherst, New York, owns and operates three pharmacies; Parkview Health Services, Riverview Professional Pharmacy, and Parkview RX Niagara Falls. With over 38 years of experience, PHS pharmacies provide comprehensive medication solutions to group homes, mental health clinics, addiction services providers, and other congregate care settings in addition to patients who need assistance managing their medications at home. For more information, visit www.parkviewhs.com.

About Flexpoint Ford

Flexpoint Ford is a private equity investment firm that has approximately $7.5 billion of regulatory assets under management and specializes in privately negotiated investments in the healthcare and financial services industries. Since the firm’s formation in 2005, Flexpoint Ford has completed investments across a broad range of investment sizes, structures and asset classes. Flexpoint Ford has offices in Chicago, Illinois, and New York, New York. For more information, visit www.flexpointford.com.

Contact

Prosek Partners on behalf of Flexpoint Ford
Email: [email protected]

SOURCE Parkview Health Services, LLC