OSLO, Norway, July 11, 2023 — Optio, the leading provider of B2B SaaS equity compensation solutions today announced the extension of its series A round with CCAP, a technology financial investor out of Germany. Earlier this year Optio completed its series A from leading Nordic investors Futurum Ventures, Skyfall and Bent Skisaker. With the extension Optio successfully raised in total NOK45 million in its series A and is fully funded.

The growth capital will support Optio to continue its impressive expansion strategy and to penetrate new markets including Germany, Switzerland, the Netherlands and southern Europe while setting up the organization for further international expansion.

“We are very excited to share the next stage of our journey with CCAP, who bring a deep understanding of B2B SaaS, a wealth of financial and operational experience and a wide network to Optio. The partnership and the capital will support Optio in its expansion and allow to capitalize on the substantial market opportunity”, said Christoffer Herheim, co-founder and CEO of Optio. 

Christopher Caesar of CCAP said, “We are excited to work with Christoffer, Mats, Knut and the Optio team who have created an outstanding business with an impressive track record of very high and profitable growth expanding from Norway into Sweden, Denmark and now the Rest of Europe. We look forward to leveraging our network and experience to support Optio’s strategy.”

About Optio

Established in 2018, Optio combines software and deep expertise to manage equity compensation plans for companies of all sizes. Today, the company manages over 1,000 equity programs worldwide for private and publicly listed clients. Optio’s unique capability to support businesses at every stage, from initial development to the public market, sets the business apart from other providers. Optio simplifies complexities associated with employee incentive programs, enabling companies to stay compliant, manage equity, report costs effectively, and maximize the programs benefits.

optioincentives.no

About CCAP

CCAP is a German investment and advisory firm founded by Christopher Caesar and Sebastian Hess. The firm focusses on technology, software, data and tech enabled industries where it leverages its experience and operating partners to help companies execute their strategies. CCAP partners with companies and management teams to provide bespoke capital and advisory value add services to accelerate growth. For more information about CCAP, please visit https://ccap.co.

Logo – https://mma.prnewswire.com/media/2150390/Optio_Logo.jpg
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SOURCE OPTIO INCENTIVES AB

With efficient growth, innovation and marquis healthcare customers like Humana – Verifiable is shaking up the multi-billion dollar provider network management category.

AUSTIN, Texas, July 10, 2023 — Verifiable, an API-first innovator to the antiquated provider network management software category, has raised $27 million in Series B funding led by Craft Ventures to accelerate its next stage of growth and product innovation. Verifiable’s comprehensive suite of network management solutions and real-time verifications empower healthcare organizations to expedite credentialing from multiple weeks to a matter of days. For customers, these efficiency gains can directly translate into millions of dollars of cost savings and added revenue capture, while also helping mitigate compliance risk, meet audit requirements, and improve the overall provider experience.

Verifiable will use this funding to scale go-to-market teams and expand its extensive verifications infrastructure to further differentiate the company’s best-in-category provider credentialing, compliance and network management solutions. The funding will also further accelerate Verifiable’s collaboration with Salesforce. Along with Craft Ventures, Highland Capital Partners, 137 Ventures and Cooley participated in the round, as well as existing investors The Altman Fund and Struck Capital.

“Credentialing isn’t a new challenge—it’s an administrative bottleneck that’s been costing healthcare organizations billions while negatively impacting provider experience and eroding the bottom-line,” says Nick Macario, CEO of Verifiable. “What is new is Verifiable’s integrated approach that truly automates the underlying operations through real-time verifications and workflows to drive speed and efficiency. Some of our largest competitors in the space are also customers of our platform, which speaks to the unique solution and value we bring to market. This is where Verifiable is built different.”

Craft Ventures Partner and COO, Brian Murray, points out, “In today’s macro environment, the funding bar is very high. Growth alone isn’t enough—companies need to demonstrate they can grow fast without excessive burn. They must also prove they’re solving big problems for big markets, forming a new category of software in their wake. We believe Verifiable has the potential to permanently upgrade our healthcare system. We’re excited for what’s to come.”

Verifiable quickly emerged as the “go-to” credentialing solution for fast-growing, digital healthcare companies as healthcare quickly went virtual in 2020. Over the last year, Verifiable has since garnered significant traction in simplifying provider network operations for larger enterprise healthcare organizations as well.

One such leading customer is Humana, which came to Verifiable searching for technology solutions to help insource away from its previous Credential Verification Organization (CVO) vendor as Humana aimed to reduce costs, increase data quality and accelerate credentialing turnarounds to improve the provider experience. Humana chose Verifiable to insource, automate and centralize credentialing operations on the Salesforce platform. Through this work, it is currently projecting a 15% cost reduction, while improving quality and control over its previous CVO.

Over the last year, Verifiable has tripled its revenue and doubled its team, quickly becoming a fast-growing partner within Salesforce’s ISV partner ecosystem. Throughout the recent accomplishments, Macario is quick to point out that beyond the powerful technology platform, it’s really Verifiable’s people at the heart of their success, “Everyone really cares deeply about helping our healthcare customers improve the provider experience, innovate in the face of provider shortages and expand access to care.”

With funding to power further growth, Verifiable is actively hiring for a number of open roles over the coming months. Learn more at www.verifiable.com/careers.

About Verifiable

Verifiable is an API-first, provider network management platform built to help healthcare provider and payer organizations speed up network operations, save costs and streamline the provider experience. Verifiable industry-leading provider data infrastructure connects to thousands of primary sources to deliver real-time provider verification & monitoring to automate the credentialing process – resulting 78% faster turnaround times and millions in added revenue capture. Verifiable works with innovative healthcare provider and payer organizations like Humana, Lyra Health, Talkspace, Modern Health, Wheel, Grow Therapy, and many others. Verifiable is a proud Y-Combinator company whose investors include Craft Ventures, Highland Capital Partners, Tiger Global, The Altman Fund, Struck Capital, Liquid2 Ventures, 137 Ventures, Cooley and Soma Capital.

Press Contact:

Scott E. Rupp
941-448-7566
https://millerrupp.com

SOURCE Verifiable

INDIANAPOLIS, July 10, 2023 — Arrive, the smart mailbox company formerly known as Dronedek, today announced that it raised more than $1.3 million from 428 investors, most of them new to the Indianapolis-based innovator. The funding round closed Friday, July 7.

It’s the second time Arrive has eclipsed $1 million in crowdfunding efforts. The company now has nearly 5,000 individual investors and has raised more than $9 million in its total fundraising efforts since the company was founded in 2014. The startup now employs 15 people worldwide.

“This demonstration of support for our product is really important as we get closer to distribution,” said Arrive CEO Dan O’Toole. “We’ve been working steadily for the past nine years, hitting all our targets and constantly iterating as the industry advances. We’re more than ready to be out there in the field.”

Arrive is poised to solve the biggest issues in package delivery. For consumers, that’s the security of the more than 36 million packages now commonly left unprotected on porches and driveways each day. An estimated 1.7 million packages a day are stolen before they could be picked up by their owners. 

For businesses, Arrive helps shave costs of the most expensive and difficult part of the supply chain – the last mile – by adding a secure mailbox that can keep packages safe from theft and can accept delivery via human or autonomous means, all while providing documented chain-of-custody. By 2028, the autonomous last-mile delivery market is expected to surpass $51 billion.

For the world, autonomous delivery can help reduce carbon emissions created by traditional delivery means and will help reduce traffic congestion and safety issues. Experts estimate that 20-30 percent of a city’s CO2 emissions result from last-mile deliveries.

O’Toole is among the first in the United States to secure patents for a smart mailbox designed to securely accept packages delivered by drone and holds a first-position patent portfolio for the next-generation mailbox of autonomous and drone delivery. 

About Arrive: Headquartered in Indianapolis, Ind., Arrive (formerly Dronedek) is a pioneering technology company revolutionizing last-mile delivery and pickup. Founded by serial entrepreneur Dan O’Toole, Arrive addresses the evolving needs of autonomous drone and robotic delivery by unlocking the secure, seamless movement of goods and supplies between people, robots, and drones. The company’s smart Mailbox-as-a-Service platform and infrastructure solutions empower Autonomous Delivery Networks (ADNs) to operate more efficiently with secure and climate-assisted cargo space, smart alerts, and chain of custody. Capabilities are accessible in apps, APIs, and processes that help partners and customers get the most out of conventional carriers, couriers and ADNs. The company has raised more than $9 million from nearly 5,000 investors and forged strategic partnerships with many industry leaders. Learn more about Arrive’s innovative solutions at https://arrive.tech. 

SOURCE Arrive

The Strategic Acquisition of Beniva Adds to the Continued Growth and Expansion Strategy by SoftwareOne in North America

TORONTO, July 10, 2023 — Tequity, a leading North American M&A Advisory firm specializing in global Enterprise B2B SaaS, Cloud, and IT company transactions, acted as the exclusive financial advisor to Beniva Consulting Group Inc., a leader in IT operations management and ServiceNow advisory services in their acquisition by SoftwareOne Holding AG, a leading global provider of end-to-end software and cloud technology solutions.

Beniva Consulting Group is a leading provider in ServiceNow, Configuration Management Database (CMDB), IT and Operations Management (ITOM), and Cloud Advisory and Application Services. The strategic acquisition adds deep process automation and service management specialization to SoftwareOne’s existing market-leading IT Asset Management (ITAM) services.

“Tequity was the most competent and connected advisor we had met and worked with. We appreciated their professionalism as a sounding board through the expedited process we ran together and would not hesitate to recommend them to others of similar scale as Beniva” said Leonard Wiens, Founding Partner Beniva.

On the acquisition by SoftwareOne he added “SoftwareOne’s all-in-one cloud application strategy represents the most complete end-to-end vision in the market. We couldn’t be more excited to bring elite ServiceNow and workflow automation delivery to SoftwareOne’s clients across the globe.”

“Sometimes these types of transactions have a fast cadence to them when both parties sync quickly and that was certainly the case here. Wilf and I want to thank Len and his team for being able to run the business and still react promptly. One can see a great future for the SoftwareOne / Beniva combination!” said Alex MacKay, President and Wilf Rapp, Managing Partner, Tequity. 

Shadi Khoshab, Global Director, ITAM & Software Sourcing Services said, “We’re delighted to welcome Beniva and their team to SoftwareOne. They bring a wealth of ServiceNow knowledge, strong ITOM capabilities and they’re a fantastic cultural fit. We are already recognized as a market leader in ITAM and by adding Beniva to our organization, we will supercharge the way we support our clients, helping them achieve their software and cloud portfolio optimization goals.”

With this transaction, Beniva’s team of more than 75 cloud technology experts and its directors will join SoftwareOne and its rapidly growing software and cloud services practice. By helping its clients leverage the ServiceNow platform, Beniva has helped them save millions of dollars. This acquisition strengthens our services portfolio and organizational value proposition. Beniva’s service offering perfectly complements our own Software Sourcing and Portfolio Management services, building on our capabilities in both IT Service Management (ITSM) and IT Operations Management (ITOM). The acquisition significantly expands SoftwareOne’s portfolio of Software & Cloud Services, including application rationalization and portfolio management. This strengthens our high-quality delivery capabilities to serve our enterprise clients globally.

No financial details or transaction terms have been disclosed.

About Beniva Consulting Group

Founded in 2016 and headquartered in Calgary Canada, Beniva is a leading consultancy of professional and managed services, supporting blue-chip enterprise clients in United States and Canada. As an Elite ServiceNow partner, the company specializes in providing end-to-end professional services to clients seeking to leverage ServiceNow, a provider of workflow solutions and preferred vendor of enterprises moving to the cloud. See www.benivagroup.com 

About SoftwareOne

SoftwareOne is a leading global software and cloud solutions provider that is redefining how organizations build, buy and manage everything in the cloud. By helping clients to migrate and modernize their workloads and applications – and in parallel, to navigate and optimize the resulting software and cloud changes – SoftwareOne unlocks the value of technology. The company’s ~9,000 employees are driven to deliver a portfolio of 7,500 software brands with sales and delivery capabilities in 90 countries. Headquartered in Switzerland, SoftwareOne is listed on the SIX Swiss Exchange under the ticker symbol SWON. Visit www.softwareone.com

About Tequity

Tequity assists Enterprise B2B SaaS, Cloud, and IT companies with business growth and exit strategies. Our mission is simple: achieve the best outcome for our clients. With decades of combined experience as executives, consultants, and owners of software and technology companies, we leverage our deep industry knowledge across tech ecosystems and our relationships with strategic, growth-focused buyers around the globe to drive successful M&A transactions. Learn more at www.tequityadvisors.com.

Media Contact
Diane Horton
Managing Partner, Tequity Advisors
T: +1 416.993.1734 | [email protected]

SOURCE Tequity Advisors

NEW YORK, July 10, 2023 — TZP Group (“TZP”), a multi-strategy private equity firm, announced today its strategic investment in Trash Butler, LLC (“Trash Butler” or the “Company”), a leading national provider of tech-enabled doorstep valet trash and recycling solutions designed for multi-family apartment communities.

Founded by Omar Soliman and Nick Friedman and headquartered in Tampa, Florida, Trash Butler’s solutions enable residents to enjoy an eco-friendly amenity and an opportunity for a greener, more sustainable lifestyle. Trash Butler offers a value-added technology platform, professional and highly-trained team members and experienced leadership, rigorous quality control measures, and a strong commitment to providing the highest quality client experience and relationships.

“We were immediately impressed with Trash Butler’s strong track record of growth, excellent reputation for quality service, and exceptional management team,” said Erin Edwards, TZP Partner. “The Company’s unique value proposition for property managers, asset managers, communities, and residents, combined with their national footprint and scale creates significant opportunities for growth, and TZP is thrilled to partner with Nick, Omar, and the entire Trash Butler team for this next phase of expansion.”

“With TZP Group’s support, we look forward to building upon the well-established market position and excellent reputation that Trash Butler is known for,” said Trash Butler Co-Founder Nick Friedman. “We are excited to work with a partner that not only has deep experience in scaling high-growth businesses but also shares our core values and commitment to our culture, team members and clients.” Omar Soliman, Trash Butler Co-Founder added, “the Trash Butler team is very excited to partner with TZP Group for this next chapter in the company’s evolution and journey.”

Erin Edwards led the transaction for TZP with support from Ken Esterow, Choon Woo Ha and Nandu Mandalap. Greenberg Traurig LLP and Trenam LLP provided legal counsel to TZP and the Company, respectively. Lazard Frères & Co., LLC served as the financial advisor to Trash Butler for the transaction.

About Trash Butler

Trash Butler is the second largest doorstep valet trash and recycling amenity solution provider in the country, serving the multi-family apartment industry, student housing, and condo communities. They are a purpose-driven, values-based, socially conscious, tech-enabled, and results-obsessed enterprise that helps increase apartment asset NOI, asset values, and seeks to help make residents’ and property management’s lives easier. Learn more about Trash Butler at www.trashbutler.com

About TZP

TZP Group, a multi-strategy private equity firm managing approximately $2 billion across its family of funds, is focused on control, growth equity, and structured capital investments in consumer products and services, technology, and business services companies. Founded in 2007, TZP targets companies with solid historical performance and sustainable value propositions and aims to be a “Partner of Choice” for business owners and management teams. TZP seeks to invest primarily in closely held, private companies in which the owners desire to retain a significant stake and partner with an investor with complementary operating and financial skills to accelerate company growth, increase profitability, and maximize the value of their retained stake. TZP leverages its investment professionals’ operating and investment experience to provide strategic and operational guidance and is dedicated to long-term value creation. For more information, please visit www.tzpgroup.com.

For more media inquiries please contact:

Dan Gaspar, Partner, TZP Group | [email protected]

SOURCE TZP Group

Fund II Highlights Both Insight Partners’ and Institutional LPs’ Commitment to Supporting Underrepresented Fund Managers

NEW YORK, July 6, 2023 — Global software investor Insight Partners today announced it has raised Insight Vision Capital II, L.P. (Fund II), its second 20/20 Vision Capital fund with $118M of capital commitments to invest with a focus on diverse-led, top-tier, early-stage funds. This follows on the heels of the first 20/20 Vision Capital $15M Fund I, raised entirely through capital commitments from senior partners of Insight (Insight GPs), which launched and deployed in the last two years. The $118M Fund II, a dedicated additional fund raised in this space, includes the capital of both Insight’s GPs and institutional Limited Partners, including Massachusetts Pensions Reserves Investment Management Board (MassPRIM), Pennsylvania Public School Employees’ Retirement System (PSERS), Teachers’ Retirement System of the State of Illinois, New York State Common Retirement Fund (NYSCRF) and Alberta Investment Management Corporation (AIMCo). These institutional investors are seeking returns from early-stage funds led and founded by diverse Fund managers.

20/20 Vision Capital Fund II has made commitments to funds managed by Act One Ventures Management, L.L.C., Hannah Grey Ventures, LLC, F7 Ventures LLC, SH Fund Management, LLC, Wischoff Ventures, Ansa Capital Management, LLC, Vesey Ventures, Springbank Collective, and Mastry Ventures, some of which are first time funds. This follows 20/20 Vision Capital Fund I investment into 14 funds, including funds managed by Maple VC Management, LLC, Noemis Ventures Management, LLC, and Precursor Ventures Management, LLC, among others, and Fund II has already made commitments to the successor funds of some of these initial funds. Across Fund I and II, 68% are led by first-time fund managers, 60% are led by women and 64% are led by Black and/or Latine fund managers.

From its inception, 20/20 Vision Capital’s premise has been that underrepresented fund managers are competitively positioned to provide attractive returns, as they possess differentiated perspectives and startup networks. Insight Partners believes that partnering with, and investing with, these GPs is both an attractive investment opportunity and an effective way to bring much needed diversity to the venture capital industry. Fund II reinforces that this is an enduring program that is expected to drive strong returns and impact for the long term.

“Participating Insight LPs similarly recognized the opportunity and mission of 20/20 Vision Capital and have now joined us for a second effort with Fund II. We all understand the long-term impact these up-and-coming investors have on the industry,” said Richard Wells, Managing Director at Insight Partners. “20/20 Vision Capital’s goal is for the fund managers to directly access institutional capital on their own and we’re thrilled to make Fund II part of the technology investing landscape.”

“MassPRIM is committed to fostering diversity within the investment landscape, and we believe one of the best ways to do that is to invest in funds led by underrepresented investors and managers,” said Michael Trotsky, CFA, Executive Director, and Chief Investment Officer of MassPRIM. “We are excited to partner with Insight on this initiative, and we hope that the emerging funds that Vision Capital invests in grow to become a fit for MassPRIM to invest in directly over time.”

Born in 2020 during the global pandemic and heightened social unrest, 20/20 Vision Capital supports managers from inception, allowing fund managers to utilize Insight’s GP connections, gain exposure to additional investors and have access to strategic programming, such as advisory support and briefing sessions on the state of the industry. Over the past two years, Insight’s dedicated team has hosted a variety of curated in-person events, including roundtables and networking sessions to contribute to the success of the fund managers. Due to these close partnerships, 20/20 Vision Capital has been able to engage in additional investments, further showing the focus on long-term growth and performance of the fund managers.

“With our 27-year investment perspective we recognized that the problem wasn’t a shortage of minority founders, but rather a shortage of funds investing in them at the critical pre-seed through Series A-B stage. 20/20 Vision Capital has been able to directly address this problem by investing with diverse GPs who in turn have the opportunity to identify and invest in diverse founders,” said Dionne Chingkoe, Managing Director at Insight Partners. “Since we began investing more than two years ago, many of our fund managers are already seeing positive results and all are showing promise. We’re optimistic about 20/20 Vision Capital’s continued success.”

About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2022, the firm has over $75B in regulatory assets under management. Insight Partners has invested in more than 750 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with right-sized, right-time practical, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

THIS IS NOT AN OFFER TO SELL, OR A SOLICITATION OF ANY OFFER TO BUY ANY SECURITIES.
THIS IS A NOTICE FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL, OR A SOLICITATION OF ANY OFFER TO BUY, ANY SECURITIES. ANY SUCH OFFERING WILL BE MADE ONLY BY MEANS OF AN OFFERING DOCUMENT CONTAINING IMPORTANT INFORMATION ABOUT THE INVESTMENT OBJECTIVE, TERMS AND CONDITIONS OF AN INVESTMENT IN A FUND AS WELL AS TAX INFORMATION AND RISK DISCLOSURES THAT ARE IMPORTANT TO ANY INVESTMENT DECISION REGARDING A FUND, AND ONLY IN THOSE JURISDICTIONS PERMITTED BY LAW. RECIPIENTS SHOULD NOT CONSTRUE THE CONTENTS OF THIS LETTER AS LEGAL, TAX, INVESTMENT OR OTHER ADVICE. NO PERSON HAS BEEN AUTHORIZED TO MAKE ANY STATEMENT CONCERNING A FUND OTHER THAN AS SET FORTH IN THE OFFERING DOCUMENT AND ANY SUCH STATEMENTS, IF MADE, MAY NOT BE RELIED UPON.

PAST PERFORMANCE IS NOT AN INDICATION OR GUARANTEE OF FUTURE RESULTS. All securities investments risk the lass of capital. No guarantee or representation is made that a fund will achieve its investment objective. An investment in a partnership is speculative and involves certain risk factors which potential investors should consider before investing. Potential investors should be able to afford a complete lass of all capital invested in a partnership.

SOURCE Insight Partners

SINGAPORE, July 6, 2023 — Today, nami, a leading multi-sensing platform and ecosystem enabler for the Internet of Things (IoT) industry, announced the close of its Series A financing round, raising $10.5 million from strategic investors including Verizon Ventures, Amavi Capital, INSPiRE and Aconterra.

nami enables enterprise customers to rapidly deploy intelligent presence, motion, and situation-aware IoT services. The company’s full-stack platform ingests raw sensor data, augments it into actionable metadata, and uses it to trigger automation across entire IoT environment, delivering unprecedented use cases. Over the past two years, nami has developed a powerful platform for software-based sensing applications, featuring cutting-edge sensing topologies and associated intellectual property. With this new funding, nami is poised to expand its team and geographical presence to rapidly deploy its advanced digital sensing infrastructure across residential and commercial buildings on three continents.

“This funding round empowers nami to achieve our mission of building an ecosystem of AI sensors that cater to IoT players, internet service providers, insurance companies, and others across multiple verticals,” said Jean-Eudes Leroy, co-founder and CEO of nami. “Our innovative nami app brings peace of mind to families with security, safety, and wellness use cases while ensuring the utmost privacy. Additionally, our partners’ applications and dashboards utilize data from our API to enhance automation, complement their security solution and improve health outcomes in different types of environments.”

“At Verizon Ventures, we invest in companies whose innovative solutions leverage 5G and other advanced network technologies to deliver impactful new capabilities for both consumers and business customers,” said Michelle McCarthy, Managing Director at Verizon Ventures. “nami’s talented and seasoned team has laid out an impressive new vision for connected homes, transforming them into intelligent living spaces. We look forward to supporting them as they develop digital sensing infrastructure for residential and commercial buildings in Asia, Europe and North America.”

“We are thrilled to be part of the nami project, which aims to digitize walls and ceilings through non-intrusive sensing technology,” said Frédéric Van Weghe, Managing Partner at Amavi Capital. “In the wake of the global agenda for carbon neutrality in residential and commercial buildings, the ability to deploy non-line-of-sight sensing technology across wide surfaces, detecting occupancy, is a major leap forward for the PropTech industry.”

“What a great journey to build investment foundations for nami and proactively contribute to grow its business in Japan” said Ryosuke Takatsuki, Representative Director of INSPiRE Mutualistic Symbiosis Fund. “We are very excited by our cooperation with nami in Health & Wellness space for Mimamori project in Japan. Together, we pave the way for properly aging in place thanks to the right mix of AI and IoT technologies, made easy to deploy. Just Japan itself is a target market of 26 Millions elderly households for AgeTech.”

“IoT services on motion and presence are vital to reduce the carbon footprint and to increase the safety of people in residential and commercial buildings. nami’s multi-sensing platform realizes this in a highly scalable way by using existing widely adopted technology that doesn’t require line of sight. Situation awareness of people can be a global gamechanger for many use cases including energy management, alarm detection, and elderly monitoring.”, says Ron Schuermans, founding Partner of Aconterra. “We’re thrilled to welcome nami in Aconterra’s smart building tech ecosystem and to support such an amazing team.”

About nami

nami, headquartered in Singapore, delivers AI-powered digital sensing solutions to players in the Security, Safety, HealthTech, PropTech, and Energy Optimization fields through hardware-augmented software. Two of the nami co-founders, Jean-Eudes and Jérôme Leroy, serve as active members of the Connectivity Standards Alliance (CSA), part of the steering committee of the new CSA Health & Wellness workgroup, and chair Matter’s RF Ambient Sensing Workgroup.

For more information, please visit www.nami.ai (https://nami.ai/)

SOURCE nami

Beloved for its performance training apparel, the announcement highlights the brand’s meteoric rise as the next great athletic brand.

NEW YORK, July 6, 2023 — Today New York-based men’s activewear brand, Ten Thousand, announced a $21.5 million Series A raise and a partnership with Life Time, North America’s premier Athletic Country Clubs and omni-channel Healthy Way of Life Brand. The raise and partnership underscores Ten Thousand’s cult following, differentiated positioning and rapid growth on the path to become the next game-changing brand in the technical performance apparel space. The investment was led by Provenance with participation from Fernbrook and Alfa. This syndicate joins existing seed investors including Dave Gilboa (co-founder of Warby Parker), Blue Scorpion, and Elizabeth St Ventures.

“As lifelong athletes that consistently struggled to find adequate training gear, we started Ten Thousand to build what we were looking for in the market — a streamlined assortment of no-nonsense, premium gear that could take us through any and every training session,” explains Ten Thousand Founder and CEO, Keith Nowak. “By only using the highest quality materials, obsessing over the details, and working with elite hybrid athletes to design, develop, and test every product, Ten Thousand has become the go-to performance brand for serious athletes. The result is purpose-built gear that is made to last. As a business we’ve not only seen significant growth on a consistent basis, we also have one of the highest repeat customer rates in the industry. With this new investment and our partnership with Life Time we can shift the business into high gear by growing our team, investing in more inventory, exploring retail, larger partnerships and new marketing channels.”

“There’s an authenticity and seriousness to Ten Thousand that is sorely lacking from so many of the other activewear start-ups,” says Anton Romash, Ten Thousand Board Director and principal at Provenance, a Los Angeles-based growth oriented investment firm leveraging data-driven insights to foster growth and profitability. “In an incredibly short period of time they’ve established themselves as a true best-in-class brand and are in pole position to take advantage of the massive opportunity in the market to become the next great American activewear brand. We’re very excited to help fuel that growth.”

Adds Nowak, “As our repeat rate shows, once a customer tries Ten Thousand, they stick with Ten Thousand. And now with this funding we’ll be able to reach even more new customers through both continued digital marketing as well as further channel expansion. The funding will also help us better keep up with customer demand – which has been one of our biggest challenges to date. When we set out to raise our Series A we quickly saw Provenance as an ideal partner. We had built relationships with their team over multiple years and knew they were unique in how they combine data-driven decision making with unmatched brand, product and operational expertise. We have every intention of becoming a household name and this funding along with the new partnerships will play a big role in helping us get there.”

Coinciding with this funding announcement, Ten Thousand also announced a 3 year partnership with Life Time Athletic Country Clubs that will make them the exclusive men’s training apparel brand of Life Time’s Dynamic Personal Training (DPT) team and its Studio, GTX, Alpha, and Ultra Fit classes, and will sponsor select Life Time events as well as deliver exclusive products and in-club activations.

One major point of emphasis within the partnership will be Run Strong, Ten Thousand’s take on running that has ushered in a new breed of hybrid athletes who train to improve physical strength and endurance, as well as mental fortitude. Ten Thousand has been at the forefront of this new movement in the fitness and training space and have already hosted Run Strong activations at this year’s Life Time Miami Marathon and Chicago Half Marathon. Participants were encouraged to wear weight vests and do push-ups and burpees throughout the race, raising over $10,000 for the Life Time Foundation. Ten Thousand plans to expand on this success with the addition of Run Strong divisions at other organized races as well as host Run Strong community events throughout the year.

Press Contact
Taylor Stacey | ACL & Co. | [email protected] | 415-377-5096

SOURCE Ten Thousand

The closing complements 12 existing investments and 30 previous investments from the firm’s first fund in 2019.

LA QUINTA, Calif., July 6, 2023 — Harmonix Management LLC, a venture capital investment firm focused on investments in science-driven startups, announced today the successful close of Harmonix Fund I LP (the “Fund“) with investments deployed across the healthcare, life sciences, deep tech, and space tech verticals.

The Fund’s closing comes after Harmonix deployed capital to 12 investments that build on the successes of the firm’s first fund (a self-funded entity closed in 2019) that executed 30 investments across many highly successful and innovative companies.

Harmonix launched Fund III in July 2023.

Today, Harmonix’s diverse portfolio features a range of cutting-edge companies, including Bit.Bio, a platform programming the software of life; Volumetric, a 3D bioprinting platform for drug research and human organ replacements; and Insilico Medicine, an AI drug discovery and development platform.

The Fund’s investments in healthcare and deep tech have empowered what Harmonix believes to be groundbreaking achievements, such as Insilico Medicine’s world-first fully AI-designed drug in clinical trials.

“We are immensely proud of the progress we’ve made with our second fund, and of the incredible companies we’ve had the privilege of investing in,” said Maximilian Winter, founder and general partner of Harmonix. “Our success is a testament to the bold and innovative visionaries leading these startups. This fund has allowed us to expand our impact within healthcare, life sciences, deep tech, and space, and we remain dedicated to supporting advancements in these exciting sectors.”

Winter added, “We continue to look towards the future where science-driven innovation can disrupt traditional paradigms and create transformative solutions for the advancement of humanity.”

Harmonix’s first two funds have supported what the firm considers to be 10 major breakthroughs in less than five years. Additionally, Harmonix believes new technologies have enabled the rapid evolution of the healthcare investment landscape to create a trillion-dollar market potential within these sectors.

Harmonix is committed to being situated at the forefront of the biotech industry, fostering ethical and socially impactful companies, and supporting scientific advancements that accelerate humanity forward. The firm believes its commitment to collaboration, support, long-term vision, and innovation ensures that its portfolio companies are well-equipped to bring about significant change.

For more information about Harmonix, its investment approach, and portfolio companies, please visit https://harmonixfund.com/.

ABOUT HARMONIX

Harmonix is a California-based venture capital firm founded by Maximilian Winter along with partners Cofield Mundi and Krish Ramadurai, focused on investing in breakthrough technologies at the intersection of life sciences, healthcare, and deep tech. With a strong commitment to ethics, social impact, and scientific advancements, Harmonix supports and empowers entrepreneurs to develop and scale their groundbreaking ideas, creating a comprehensive ecosystem for innovation and growth.

SOURCE Harmonix