– Horizon Platform Originates $52.7 Million of New Loans in Q2, Including $49.6 Million of New Loans Funded by HRZN – 

– Horizon Platform Ends Quarter with Committed Backlog of $183 Million, Including $159 Million in HRZN Commitments –   

FARMINGTON, Conn., July 12, 2023 — Horizon Technology Finance Corporation (NASDAQ: HRZN) (“HRZN” or the “Company”), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, today provided its portfolio update for the second quarter ended June 30, 2023 and an update on the lending platform (“Horizon Platform”) of Horizon Technology Finance Management LLC (“HTFM”), its investment adviser.

“As we thoughtfully navigated the challenging macro environment, the Horizon Platform originated $52.7 million of loans in the quarter, including $49.6 million of loans funded by HRZN,” said Gerald A. Michaud, President of HRZN and HTFM. “In addition, the Horizon Platform’s committed backlog of debt investments remained solid at quarter end with $183 million in commitments, including $159 million in HRZN commitments. During the quarter we received $28 million in loan payoffs and partial paydowns along with proceeds from warrant redemptions and earnouts, providing us with accelerated income, which further validated our predictive pricing strategy. Given the Horizon Platform’s strong pipeline and HRZN’s strong backlog of commitments, we believe we remain well positioned to prudently grow the Horizon Platform’s venture debt portfolio and deliver additional value to HRZN’s shareholders.”

Second Quarter 2023 Portfolio Update

Originations

During the second quarter of 2023, a total of $52.7 million of loans funded through the Horizon Platform, including 11 loans totaling $49.6 million funded by HRZN, as follows:

• $10.0 million to a new portfolio company, Viken Detection Corp., a developer of a variety of innovative X-ray and detection products utilized by various law enforcement agencies for the purposes of security, public safety and counterintelligence.
• $10.0 million to a new portfolio company, SafelyYou, Inc., a developer of an innovative remote care platform that combines real-time AI video technology with a 24/7 remote clinical team.
• $10.0 million to an existing portfolio company, Supply Network Visibility Holdings LLC (d/b/a Everstream Analytics), a provider of supply chain risk management software, in connection with the prepayment of its existing Horizon Platform loan facility and providing it with additional debt capital.
• $10.0 million to an existing portfolio company, Divergent Technologies, Inc., a creator of an innovative global manufacturing infrastructure platform for the automotive industry, of which HRZN will hold $7.5 million for its portfolio.
• $5.0 million to an existing portfolio company, a developer of neurovascular therapies to better treat brain diseases.
• $1.9 million to an existing portfolio company, a provider of a returns technology platform for retailers and brands.
• $1.2 million to an existing portfolio company, Nexii Building Solutions Inc., a green construction technology company focused on creating environmentally-friendly, durable, cost-efficient and disaster-resilient buildings.
• $0.7 million to an existing portfolio company, a builder of conservation memorial forests that offer sustainable alternatives to cemeteries.
• $0.5 million to an existing portfolio company, Groundspeed Analytics, Inc., a developer of an AI platform that captures, structures, and delivers complete risk data to commercial P&C insurance carriers.
• $0.2 million to an existing portfolio company, Corinth Medtech, Inc., a developer of an FDA-cleared device for treating symptoms related to Benign Prostatic Hyperplasia (BPH).
• $0.1 million to an existing portfolio company, an operator of commercial blood collection centers that source and distribute vital, in-demand blood components, such as platelets, to hospitals.

Liquidity Events and Partial Paydowns

HRZN experienced liquidity events from six portfolio companies in the second quarter of 2023, including principal prepayments and partial paydowns of $28.3 million and $1.5 million of warrant and earnout proceeds, compared to $32.1 million of principal prepayments and partial paydowns and no warrant and earnout payments during the first quarter of 2023: 

• In May, the Company received a payment of $1.5 million in cash and was issued $2.8 million of equity in Decisyon, Inc. in full satisfaction of Decisyon’s obligations to the Company under its venture loan.
• In May, HRZN received $0.8 million in proceeds in connection with the redemption of warrants in Riv Data Corp.
• In May, with the proceeds of a new loan from the Horizon Platform, Supply Network Visibility Holdings LLC (d/b/a Everstream Analytics) prepaid its previously outstanding principal balance of $11.1 million on its venture loan facility, plus interest and end-of-term payment. HRZN continues to hold warrants in Supply Network.
• In June, Groundspeed Analytics, Inc. was acquired by Insurance Quantified and Groundspeed prepaid its outstanding principal balance of $11.0 million on its venture loan and convertible note, plus interest, end-of-term payments and prepayment fees. HRZN also received proceeds totaling $0.5 million from the redemption of warrants it held in Groundspeed, as well as a preference payment on its convertible note of $0.9 million.
• In June, HRZN received a partial paydown of $4.7 million on its venture loan to Avalo Therapeutics, Inc.
• In June, HRZN received $0.2 million in proceeds in connection with an earnout payment and the redemption of warrants related to its investment in Bardy Diagnostics, Inc.

On July 12, 2023, Evelo Biosciences, Inc. (“Evelo”) paid down $5.0 million of the principal amount of its loans outstanding under that certain Venture Loan and Security Agreement by and among the Company, the other lender parties therein and Evelo, dated as of December 15, 2022, as amended (the “Loan Agreement”) and the Company and Evelo converted $5.0 million of the principal amount of the loans outstanding under the Loan Agreement into shares of Common Stock of Evelo.

Principal Payments Received

During the second quarter of 2023, HRZN received regularly scheduled principal payments on investments totaling $6.1 million, compared to regularly scheduled principal payments totaling $6.8 million during the first quarter of 2023.

Commitments

During the quarter ended June 30, 2023, HRZN closed new loan commitments totaling $73.6 million to six companies, compared to new loan commitments of $31.4 million to three companies in the first quarter of 2023.

Pipeline and Term Sheets

As of June 30, 2023, HRZN’s unfunded loan approvals and commitments (“Committed Backlog”) were $159.4 million to 19 companies. This compares to a Committed Backlog of $186.6 million to 19 companies at HRZN as of March 31, 2023. HRZN’s portfolio companies have discretion whether to draw down such commitments and the right of a portfolio company to draw down its commitment is often subject to achievement of specific milestones and other conditions to borrowing.  Accordingly, there is no assurance that any or all of these transactions will be funded by HRZN. Across the Horizon Platform, the quarter ended with an additional $23.5 million of unfunded loan approvals and commitments.

During the quarter, HTFM received signed term sheets that are in the approval process, which may result in the Horizon Platform providing up to an aggregate of $20.0 million of new debt investments.  These opportunities are subject to underwriting conditions including, but not limited to, the completion of due diligence, negotiation of definitive documentation and investment committee approval, as well as compliance with HTFM’s allocation policy. Accordingly, there is no assurance that any or all of these transactions will be completed or funded by HRZN.

Warrant and Equity Portfolio

As of June 30, 2023, HRZN held a portfolio of warrant and equity positions in 97 portfolio companies, including 81 private companies, which provides the potential for future additional returns to HRZN’s shareholders.

About Horizon Technology Finance

Horizon Technology Finance Corporation (NASDAQ: HRZN) is a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries. The investment objective of Horizon is to maximize its investment portfolio’s return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Horizon is headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, and investment professionals located in Austin, Texas, Chicago, Illinois, Reston, Virginia and Portland, Maine. To learn more, please visit horizontechfinance.com. 

Forward-Looking Statements

Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Horizon’s filings with the Securities and Exchange Commission. Horizon undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Contacts:

Investor Relations:
ICR
Garrett Edson
[email protected] 
(860) 284-6450

Media Relations:
ICR
Chris Gillick
[email protected]
(646) 677-1819

SOURCE Horizon Technology Finance Corporation

WASHINGTON, July 12, 2023 — SineWave Ventures, a Silicon Valley and Washington DC-based venture capital firm, announced the close of a $160.3 million Fund III raise. The SineWave fund is oversubscribed by 30 percent, countering national narratives of a challenging venture capital climate.

In its announcement in Washington, SineWave noted that it has already returned its limited partners a remarkable seven times what they have invested, with expectations of even higher returns in the future. SineWave’s concentrated portfolio focuses on enterprise technologies that advance both commercial and public sector customer requirements, enhance data analytics and cybersecurity, encourage collaborative data science, and enable new levels of enterprise performance.

SineWave, a top 5 percentile fund per Cambridge Associates, currently has more than $300 million committed across diversified funds.

“Our team acts with strict financial discipline, can spot real enterprise solutions, and leverages unparalleled connections and understanding of both the commercial space and public sector to outperform the broader VC market,” said SineWave founder Yanev Suissa.

The team at SineWave has the unique ability to bridge Silicon Valley and Washington DC, which is advantageous in any economic environment, but especially critical during private market downturns when public sector investments in technology continue to grow. The team works closely with startups to access federal contracts and navigate commercial business opportunities, creating an environment where portfolio companies can succeed.

SOURCE SineWave Ventures

WASHINGTON, July 12, 2023 — Current Surgical Inc., a medical technology company developing a new surgical platform to improve the safety and efficacy of cancer surgery, today announced that it has received a $400,000 grant from the National Institutes of Health (NIH) to support the development of its technology. The grant, awarded by the NIH’s National Cancer Institute (NCI), will be used to develop and validate the company’s technology in a preclinical setting.

Cancer continues to be a leading cause of death worldwide, with more than 18 million new cases detected every year. Even though more than 50 percent of these cases are now detected at an early stage, curative options have not kept pace.

Current Surgical has set out to change that. Their smart surgical needle technology combines high resolution sensors and real-time image analysis into one tool, giving doctors precise control and feedback while destroying tumors. As a result, surgeons will be able to treat any solid tumor in any location — allowing millions of patients to receive curative surgery without the traditional limitations.

“We are excited to receive this funding from the NCI,” said Al Mashal, CEO of Current Surgical. “This grant will allow us to accelerate the development of our platform and bring it to patients as soon as possible.”

“Our technology has the potential to make a significant impact on the way cancer surgery is performed,” said Chris Wagner, CTO of Current Surgical. “With this funding from the NCI, we are one step closer to making that vision a reality.”

Current Surgical’s technology is automating key steps of surgery so doctors can instead focus on determining the best treatment for patients. Beyond treating even the most intractable diseases, the technology has wide-ranging applications, from treating cardiac arrhythmias and hypertension to other sources of chronic pain.

About Current Surgical

Current Surgical is a medical technology company developing a new surgical platform to improve the safety and efficacy of cancer surgery. The company’s technology is a software-enabled surgical platform that uses artificial intelligence (AI) to automate key steps of cancer surgery. The platform is designed to improve the accuracy and precision of surgery, while reducing the risk of complications.

Current Surgical is headquartered in Washington, DC. For more information, please visit www.currentsurgical.com and follow along on LinkedIn and Twitter @CurrentSurgical.

About the National Cancer Institute (NCI)

NCI leads the National Cancer Program and NIH’s efforts to dramatically reduce the prevalence of cancer and improve the lives of cancer patients and their families, through research into prevention and cancer biology, the development of new interventions, and the training and mentoring of new researchers. For more information about cancer, please visit the NCI website at cancer.gov or call NCI’s contact center, the Cancer Information Service, at 1-800-4-CANCER (1-800-422-6237).

About the National Institutes of Health (NIH)

NIH, the nation’s medical research agency, includes 27 Institutes and Centers and is a component of the U.S. Department of Health and Human Services. NIH is the primary federal agency conducting and supporting basic, clinical, and translational medical research, and is investigating the causes, treatments, and cures for both common and rare diseases. For more information about NIH and its programs, visit nih.gov.

SOURCE Current Surgical

IRVINE, Calif., July 12, 2023 — ATIF Holdings Limited (NASDAQ: ATIF, hereinafter referred to as the “Company” or “ATIF”) Mr. Liu Jun, President, Chairman of the Board and CEO of ATIF, was interviewed by renowned media person Yang Jinlin recently. Mr. Liu shared his insights on financing services for Chinese-American companies and Chinese companies, and discussed the differences between the Chinese and American capital markets, as well as topics such as entrepreneurship and philanthropy.

As a company focused on providing initial public offering consultancy services to overseas Chinese enterprises, Liu Jun said that for Chinese enterprises, it is very important to choose the financing method suitable for their own development. ATIF is committed to tailoring initial public offering consultancy service solutions to meet customers’ needs and providing them with professional initial public offering consultancy advice and all-round support.

Liu Jun further explored the differences between the Chinese and American capital markets. He stressed that the US market has a mature legal and regulatory system and a sound regulatory mechanism to ensure market transparency and stability. In addition, investors in the US market pay more attention to corporate governance structure and the reliability of financial statements, so companies need to provide sufficient transparency to attract investors’ attention.

In this interview, ATIF President, Board Chairman and CEO Jun Liu shared his insights on the financing services for Chinese American companies and Chinese stocks, and talked about the differences between the Chinese and US capital markets. He also encouraged enterprises to seize opportunities in the US market and strengthen cooperation with local investors and partners through his own entrepreneurial journey in the US.

About ATIF

ATIF Holdings Limited (NASDAQ: ATIF) is a Lake Forest-based business consulting company that specializes in providing professional IPO, M&A advisory and post-IPO compliance services to small and medium-sized companies seeking to go public on a stock exchange in the United States. The company has a proven track record in successfully delivering comprehensive U.S. IPO consulting services to clients primarily in the United States but also internationally. The mission of ATIF is to provide one-stop, comprehensive consulting services that guide clients through the complex and often challenging process of going public. ATIF recognizes the complexity and challenges associated with the process of going public, and endeavors to simplify it while ensuring optimal outcomes for its clients through its comprehensive consulting services. ATIF has been awarded the “Golden Bauhinia Award”, the highest award in the financial and securities industry in Hong Kong, for “Top 10 Best Listed Companies”.

Forward-Looking Statements

Certain statements in this press release are “forward-looking statements” within the meaning of the “safe Harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, “estimated,” “projected,” Words such as “expect”, “anticipate”, “predict”, “plan”, “intend”, “believe”, “seek”, “may”, “will”, “should”, “future”, “propose” and variations of these words or similar expressions (or the opposite of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements do not guarantee future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control and may cause actual results or achievements to differ materially from those discussed in the forward-looking statements. Important factors include future financial and operating results, including revenues, income, expenses, cash balances and other financial items; Ability to manage growth and expansion; Current and future economic and political conditions; The ability to compete in industries with low barriers to entry; The ability to obtain additional financing to fund capital expenditure in the future. Ability to attract new customers and further enhance brand awareness; Ability to hire and retain qualified management and key staff; Trends and competition in the financial advisory services industry; Pandemic or epidemic disease; Except as required by law, the Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, the Company cannot assure you that such expectations will turn out to be correct, and the Company cautions you that actual results may differ materially from the expected results expressed or implied by the forward-looking statements we make. You should not interpret forward-looking statements as predictions of future events. Forward-looking statements represent only the beliefs and assumptions of our management as of the date such statements are made. The above forward-looking statements are made as of the date of this press release.

SOURCE ATIF Holdings Limited

New Capital Accelerates Growth of Innovative Financial Services Solutions & Product Development 

SAN FRANCISCO, July 12, 2023 — Silo Technologies, the leading provider of modern technology solutions for the food supply chain, today announces $132 million in new capital. The company’s $32 million Series C round was led by Koch Disruptive Technologies, a subsidiary of Koch Industries, a global leader in supply chain logistics known for their focused investments in technologies that disrupt established industries. Additional participants in the round included existing investors Andreessen Horowitz, Haystack Capital, Tribe Capital, Collate Capital and Moore Capital.

Silo offers a holistic fintech platform that makes financial solutions and data insights accessible

for distributors and grower shipper businesses of the perishable food supply chain. Last year, Silo secured financing to introduce a working capital program called Instant Pay and after a successful track record of providing their customers with an innovative way to manage and access working capital, the company has received more attention. Today, First Citizens Bank is partnering with Silo to provide an additional $100 million to launch Silo’s new funding program called Cash Advance. These two funding facilities will help expand Silo’s capital program and embed additional fintech services, empowering more supply chain businesses to survive and thrive during an economic downturn.

“We’re thrilled to be a part of Silo’s journey to create a more efficient and sustainable food supply chain,” said Brendon Durkin, Managing Director of Koch Disruptive Technologies. “What Silo is doing is impressive because they are providing actionable solutions in a complex, competitive market that bring immediate benefits to businesses using their products. Given the success they’ve had in perishable foods, we think there is an opportunity to apply their products to other supply chains and commodities. We’re excited to see what they’ll be able to do next.”

By equipping perishable food businesses with actionable insights, cost effective capital and intuitive, connected solutions that optimize inventory and financial performance, Silo helps businesses succeed in today’s competitive market. Its innovative finance platform, called Silo Finance, gives customers a full understanding of their cash flow and financing in an easy and fluid way. With this new round of funding and additional capital, Silo plans to continue product development of its platform in an effort to bring its holistic solutions to more businesses within the perishable food space.

“We’re pleased to have built such a strong base of investors who bring a diverse set of expertise to the table. Koch Industries is one of the greatest supply chain companies. Adding KDT to the team validates what we’re trying to achieve and brings additional supply chain expertise as we take Silo to the next level. Pairing that with the existing investor base, which has deep technical and fintech knowledge is very exciting as we expand our impact within the supply chain in 2023 and beyond,” said Ashton Braun, CEO and co-founder of Silo.

Silo’s growing customer base has experienced impressive metrics. For example, three Miami-based  distributors saw a 350% average increase in revenue in one year from using Silo Capital. This was the result of their ability to fluidly access working capital with Instant Pay which enabled them to execute on market opportunities that resulted in massive growth.

“Cash flow gaps are going to happen, especially given the seasonality of fresh produce. It’s essential for produce businesses to find a financing partner that comes through in a tight pinch. Silo Capital is like a trigger switch with a unique underwriting process that makes it possible for them to turn around capital faster than I have seen in my entire career as a CFO,” said Mason Brady, Founder of Brady CFO and former CFO and Director of Supply Chain at Homegrown Organic Farms.

“We first invested in Silo in early 2020, and since then the company has developed a track record for building market changing technology and services through its fintech platform,” said Anish Acharya, general partner at Andreessen Horowitz. “Silo has also demonstrated market potential with its ability to piece together information that reduces risk for both its business and the businesses that back them, empowering more SMBs to have a larger seat at their industry table.”

About Silo

Silo Technologies is the leading provider of technology solutions for the food supply chain. Based in San Francisco and founded by Ashton Braun in 2018, Silo has raised $272 million in funding from leading investors like KDT, Jefferies Financial Group, Andreessen Horowitz and Initialized Capital. For more information, visit https://usesilo.com

About Koch Disruptive Technologies

Koch Disruptive Technologies (KDT) is a unique investment firm, focused on empowering founders to create a could-be world. KDT provides a flexible, multi-stage investment approach from early venture capital through growth equity, including private and public companies. We work with principled entrepreneurs who are building transformative companies, disrupting the status quo, and creating new platforms. KDT is a subsidiary of Koch Industries, one of the largest privately held companies in the world with annual revenues that exceed $125 billion and operations in about 60 countries. KDT helps its partners unlock their full potential by bringing Koch’s capabilities and network to them, structuring unique capital solutions, and embracing a long-term, mutual benefit mindset. For more information, visit http://www.kochdisrupt.com/

SOURCE SILO

Netflix ‘Dream Team’ Leader Joins Seismic Capital Company’s Advisory Board to Help Guide Today’s Most Promising Startups on Path to High Growth and Success

LOS ANGELES, July 12, 2023 — Seismic Capital Company (“Seismic”) today announced data scientist and engineering leader Colby Wise is the newest member of its Board of Advisors.

Founded in 2020, Seismic is solving for two major problems it sees in the venture capital space. First, it is opening up venture capital as an asset class to investors at all income levels and experience. Second, it makes a long-term commitment of capital and resources to early-stage companies within its portfolio to increase their chances of becoming the next unicorn. Members of its esteemed Board of Advisors are on point to coach, open doors, and brainstorm with the leaders of Seismic’s portfolio companies.

“Colby has tremendous experience in leading high-performing science and engineering teams spanning big data, cloud technology, and artificial intelligence (AI) and machine learning (ML). In addition to a rich technology and business background,  he is a personable mentor who has a passion for developing leaders of the future,” said Eric White, President and Chief Investment Officer at of Seismic Capital Company. “We are thrilled to have him on board as a resource and know he will make a big impact across our portfolio companies.”

Colby Wise currently serves as engineering leader at Netflix responsible for the streaming giant’s entertainment knowledge graph. Prior to Netflix, he served as applied ML science leader within the Machine Learning Solutions Lab at Amazon Web Services. There he was responsible for delivering high-impact ML product and solutions across industries ranging from finance, healthcare and life sciences, and sports. His work has been featured in media articles by ESPN.com, VentureBeat, NFL.com, Formula1.com, and scientific journals like Nature Scientific Reports. He received a Master of Science in Computer Science from Columbia University Fu Foundation School of Engineering and a Bachelor of Science in Finance and Statistics from Arizona State University W.P. Carey School of Business, where he graduated with magna cum laude distinction. Earlier in his career, he served as CEO and Founding Partner at Traverse Technologies. He started his career as a trader in the Goldman Sachs FICC division.

“Joining Seismic as an advisor to its portfolio companies is a win-win in my book,” said Mr. Wise. “The types of companies that Seismic is looking to invest in are those that, put simply, have the potential to change the world for the better. I look forward to helping them—the innovators and real-world problem-solvers of tomorrow—reach and exceed their goals.”

Members of Seismic’s Board of Advisors include serial entrepreneurs, corporate finance advisors, marketing, public affairs advisors, diversity and culture experts, banking and finance executives, as well as C-Suite professionals. Colby Wise joins the following members: Robert Andrialis (Securities Strategy); Mitchell Berman (Entrepreneur in Residence); Porter Bibb (Multi-Media Advisor); Demetrio Cuzzocrea (Technology & Web Analysis); De’Ana H. Dow (Energy & Financial Markets); Rob Finney (Banking/Corporate Finance); Theresa Moore (Diversity, Inclusion & Media Advisor); Brad Paden (Incubation Advisor); Roxanne Taylor (Marketing/Corporate Communications Advisor); Joey Tuttle (Information Design & Infrastructure); and Bruce Waxman (Entrepreneur Compensation & Recruitment Advisor).

About Seismic Capital Company

Seismic Capital Company (“Seismic”) is changing the way venture capital (VC) is done to the benefit of founders, startups and investors. It is committed to identifying, guiding and nurturing companies seeking to meaningfully disrupt their industries.

Seismic seeks to support impactful companies across digital and emerging technologies, sustainability, education, and others, all of whom comply with the highest standards of integrity and accountability, protecting the environment and our communities.

Through a democratized capital structure, Seismic opens its doors to investors of all income levels, allowing everyone to own a stake in these disruptive companies of tomorrow at the ground-floor level. For more information, please visit https://seismic.company/, subscribe to our newsletter https://seismic.company/newsletter/ and follow us on LinkedIn https://www.linkedin.com/company/seismic-capital-company and Twitter https://twitter.com/seismiccapco?lang=en.

Media Contact:
Laura Simpson
JConnelly for Seismic Capital Company
973.713.8834
[email protected]

SOURCE Seismic Capital Company

The company’s investor lineage includes Veeva, Vlocity, now Revolear 

SAN FRANCISCO, July 12, 2023 — Today marks the launch of Revolear, an artificial intelligence (AI) powered digital deal platform that connects buyers and sellers in the cloud, combining the capabilities to structure, propose, negotiate and approve a deal on a shared source of data. The enterprise SaaS platform is the brainchild of former Salesforce, Vlocity and Siebel execs with three decades of experience in negotiating business deals and developing configurable enterprise software. The $6 million in seed financing comes from sales and CRM executives Craig Ramsey, Mark Armanante, Young Sohn, Matt Wallach and James Ramsey, who collectively founded Veeva and Vlocity, which was acquired by Salesforce for $1.5 billion.

As corporations have prioritized more ambitious digital transformation initiatives, the number of approvers in the B2B decision-making process has grown. Buyers and sellers alike are challenged to align the stakeholders around a solution, often resulting in indecision and lost opportunities. Revolear empowers the deal team with new ways to optimize, communicate and collaborate, and ultimately bring more deals to closure.

“The pandemic kept sales reps out of their customer’s offices, and it turns out that eight of 10 B2B buyers actually prefer it that way,” said Raja Singh, founder and CEO of Revolear. “We’re in a new era of hybrid selling – with remote salespeople and digital channels augmenting the field team. Solutions are getting more complex, and more of the buyer’s decision process is happening online. Sales organizations have been relying on siloed applications and redlined documents to manage complex deals. Revolear moves the dealmaking process into the digital realm, where customers want to collaborate with their sales representatives.”

Singh has designed CRM products for nearly 25 years, beginning as the head of the financial services product line at CRM pioneer Siebel Systems, and later as the senior vice president of products at Vlocity. He left his role as a senior vice president and general manager at Salesforce to found Revolear, seeing new opportunities to leverage AI in B2B selling.

As more enterprises organize their growth activities around ‘revenue operations,’ rather than just sales, Revolear provides a single data source for all aspects of a commercial transaction, from discovery through negotiation and approval.

“What the Revolear team has built extends well beyond the salesperson,” said Ramsey, Revolear investor, chairman of Vlocity, and former Salesforce board member. “It will connect legal, finance, operations and all the other revenue functions on a single platform. Revolear provides a 360° view of a deal, and they all need that data.”

“Revolear provides us the opportunity to reimagine enterprise deal tools right as the next wave of technology, generative AI, comes to market,” Singh continued. “We’ve infused AI in every facet of the platform – from predicting optimized pricing with machine learning to synthesizing requirements and draft proposals with GPT to intelligently automating approval workflows.”

At the heart of Revolear is its proprietary DealCraft solution modeling technology, which enables the platform to easily adapt to a wide range of industries and commercial structures.

“Salespeople and their customers need the flexibility to be creative in their negotiations, without the technology restricting them,” said Adam Rutland, co-founder of Revolear and the architect behind Salesforce’s low-code OmniStudio platform. “DealCraft allows users to extend and customize deals, while still benefiting from AI-sourced predictions and automated workflows.”

Revolear’s digital deal platform is currently available via a limited pilot program. Parties interested in joining the pilot program can contact Revolear here for more information. To receive future updates, join Revolear’s mailing list here.

About Revolear
Revolear is a cutting-edge digital deal platform that transforms the way companies structure, propose, negotiate and approve complex business solutions. Conceived by CRM veterans and sales visionaries, Revolear combines the power of the latest artificial intelligence with the flexibility and simplicity valued by salespeople to drive deals to closure. Learn more about #dealsdonedigital by exploring revolear.com and follow on LinkedIn and Twitter.

Media Contact:
Elle Welch
423-605-5553
[email protected] 

SOURCE Revolear

FORT LAUDERDALE, Fla., July 12, 2023 — CarePredict today announced a $29M Series A-3 investment co-led by SV Health Investors’ Medtech Convergence Fund and Aspire Healthtech Partners. CarePredict’s innovative technology autonomously identifies changes in daily activity and behaviors that precede health issues such as urinary tract infections, falls, malnutrition and depression. The ability to detect the early signs of health concerns allows preventive care and preserves the overall wellbeing of older adults. Peer-reviewed and published studies have shown that CarePredict reduces hospitalizations by 39%, falls by 69% and increases the length of stay in a lower care setting by 67%.

The investment was co-led by SV Health Investors’ Medtech Convergence Fund and Aspire Healthtech Partners. Existing institutional investors Secocha Ventures and Las Olas Venture Capital participated, along with family offices and individual investors.

Greg Madden, Managing Partner, SV Health Investors said, “CarePredict has demonstrated excellent traction in senior housing and is well positioned to expand into the aging in place segment with a proven record of prediction and early intervention to not only preserve the health of older adults but to meaningfully affect healthcare costs positively.”

Philip Gisi, CEO of Edgewood Healthcare and Managing Director of Aspire Healthtech Partners, said, “I have done an exhaustive search of the wearable technologies that can provide meaningful resident movement and physiological data in our vertically-integrated, owned, and managed senior housing portfolio. CarePredict’s unique approach to data accumulation and analysis allows us to realize our goal of virtual integration and predictive interventions. Along with this investment, we have started installing CarePredict in our communities.”

Satish Movva, CEO & Founder, CarePredict, said, “I am very pleased that SV Health Investors and Aspire Healthtech Partners have joined us in our vision to reimagine care for older adults and I look forward to accelerating our impact across all care settings and payer models in senior care.” 

About CarePredict

CarePredict is a leading technology company specializing in senior care solutions. By combining artificial intelligence, predictive analytics, and wearable devices, CarePredict empowers caregivers with real-time insights, enabling proactive care delivery and enhanced quality of life for seniors. With a focus on safety, well-being, and independence, CarePredict is redefining how we care for our aging population. CarePredict is utilized throughout the United States in senior housing as well as by home care agencies to service their clients aging in place at home. CarePredict is poised to expand nationwide into serving Medicare Advantage and value-based care building on initial success in two regional markets.

Media Contact:

SOURCE CarePredict

SAN DIEGO, July 11, 2023 — Arthrosi Therapeutics, a clinical-stage biotechnology company, today announced the successful securing of $75 million in Series D financing. This round is led by Guangrun Health Industry (Hong Kong) Co. Limited and backed by a consortium of investors, including Reichstein Biotech (HK) Co. Limited, a subsidiary of ApicHope Pharmaceuticals. The participation of these notable investors underscores their continued confidence and commitment to the development of AR882. This financing represents another milestone in the development of AR882, a highly potent and selective next-gen URAT1 inhibitor delivered in a once daily immediate release oral capsule. AR882 has the potential to change the treatment paradigm for gout, addressing critical aspects such as serum uric acid (sUA) levels, flares, and tophi reduction. 

Recent Phase 2b trials have demonstrated remarkable efficacy and safety of AR882, positioning it as a frontrunner in the industry. Notably, AR882 has not only demonstrated high response rates achieving the minimum sUA target of below 6 mg/dL needed to control the disease, but also demonstrated sufficient potency to achieve targets below 5 mg/dL or 4 mg/dL for faster flare reduction and dissolution of crystal deposition and tophi.

“I am not aware of any other molecule that has shown such promising results,” said Litain Yeh, PhD, and CEO of Arthrosi. “We continue to be extremely positive about how AR882 can address the significant unmet need in the gout space. In the U.S. alone there are 9 million people who suffer with limited treatment options. The Series D financing and continued partnership with ApicHope will accelerate the development of AR882 and other groundbreaking drugs in Western countries and in Asia.”

“We look forward to the continued collaboration with Arthrosi to accelerate the company’s innovative drug portfolio and provide global access to these promising treatments,” said Hanxiong Li, Chairman and CEO of ApicHope. “We have been very impressed with the progress Arthrosi has demonstrated. The results of the Phase 2b trials are exceptional and we expect the ongoing Phase 2 tophi trial to also show improvements in flares, sUA reduction, and tophi.”

With over 9 million gout patients in the U.S. alone and 20 percent of patients with visible tophi, the market potential for AR882 is estimated to be over $1 billion.

About Arthrosi

Arthrosi Therapeutics, Inc. was founded in San Diego, CA, in 2018 with a mission to create a revolutionary treatment option to target uric acid levels and reduce joint damage for people living with gout. With its vast therapeutic and treatment knowledge, Arthrosi has accumulated a comprehensive and robust intellectual property portfolio and impressive Phase 1 and Phase 2b data showing industry leading efficacy rates and superior safety profiles.

About ApicHope

ApicHope Pharmaceutical is an innovative pharmaceutical company with integrated R&D, manufacturing, and sales capabilities. It was founded in 2002 and listed on the Shenzhen Stock Exchange in November 2017 (300723.SZ). ApicHope focuses on the fields of pediatric medicine, chronic disease drugs, and biogenetic vaccines. It is recognized as one of the top 100 comprehensive pharmaceutical research and development companies in China and one of the top 100 pharmaceutical companies in China.

To learn more about Arthrosi, visit www.arthrosi.com.

Media Contact:
Shunqi Yan, PhD
Founder & Chief Operating Officer
[email protected]

SOURCE Arthrosi Therapeutics