Existing investor Tzvi Neta leads extended seed bringing his total investment to $4.5 million for SASE security connectivity subscription solution
TEL AVIV, Israel, Aug. 21, 2023 — BBT.live, developer of the BeBroadband™ SaaS platform, an SD-WAN/SASE as a Service built for service providers, has extended its seed funding round to $8.4 million. BBT.live has a unique business model which decreases service provider sales cycles and customer acquisition costs. Tzvi Neta leads the round.
Tzvi Neta, owner and chairman of Automotive Equipment Group (AEV), leads the seed extension investment of BBT.live
BeBroadband™ is an all-in-one secured cloud solution for service providers to deploy software-defined networking to their business customer clients. The solution includes Secure Access Service Edge (SASE) cyber security, connectivity, WAN optimization, and management and controls through a multi-tenant self-serve orchestration portal. All elements of the solution are part of a single subscription, including edge appliance hardware. Competing solutions are complicated and expensive to deploy, leaving many businesses without the network efficiency and security benefits of software-defined networking.
BeBroadband™ is fit for many use cases requiring secured connectivity, including branch connectivity, work from home, Remote Office Branch Office (ROBO), and the Internet of Things (IoT). Zero Trust Network Access (ZTNA) is a component of the solution and enables safe off-premises use of corporate software. Demand for this capability grew during and following the Covid-19 pandemic with the growth of work from home.
Tzvi Neta, owner and chairman of Automotive Equipment Group (AEV), leads the seed extension investment bringing his total investment in BBT.live to $4.5 million. Neta has a significant track record of successful investment in the Israeli tech ecosystem, including early stakes in some of the most famous startup nation success stories.
Founded in Tel Aviv in 2020, BBT.live has grown to 30 employees. BeBroadband™ is now commercially available and already deployed, following 2 years of work with design partners including the IDF and Cellcom with rapid expansion expected over the coming year.
The BBT.live team is led by CEO & Co-Founder Moshe Levinson and Chief Science Officer and Co-Founder David Hay of Hebrew University, currently on sabbatical at Princeton University. Dani Harari, the highly decorated former commander of the 8200 unit is an active board member, and former senior EY executive Oren Baron serves as strategic advisor.
Since the initial funding announcement in June of 2022, BBT.live has struck technology collaboration partnerships with Check Point and Rohde & Schwarz. They also have previously announced agreements with Advantech, Intel, and Nvidia.
“Every service provider that we enter discussions with tells us about the need for a simple solution that doesn’t require major integrations and no CapEx investment on their part,” said Moshe Levinson, CEO & Co-Founder of BBT.live. “With the faith of our investors, including Tzvi Neta, we are delivering on simplified, secured connectivity, including to customers previously unserved by our competitors.”
“This additional investment is a show of confidence not only in the prospects of the BBT.live team and technology, but also in the Israeli tech ecosystem that I have long been active in.” said Tzvi Neta. “I have no doubt that our tech sector will weather both the global economic storm and our internal challenges in Israel and see great success.”
About BBT.live:
BBT.live offers SD-WAN/SASE as a Service security and connectivity designed for service providers with the BeBroadband™ platform. The tech-agnostic solution fits use cases across multiple verticals. Partnerships with Checkpoint for cyber-security protection and Rohde & Schwarz for Deep Packet Inspection enable WAN Optimization; BeBroadband™ offers an all-in-one SASE solution for managing and controlling business networks.
Seed Capital from Forty51 Ventures to Advance Pipeline of Pan-PIM Kinase Inhibitors
BASEL, Switzerland, Aug. 21, 2023 — Mysthera Therapeutics AG, a company developing first-in-class, oral therapeutics to treat complex autoimmune diseases, launched today with $3.5 million seed capital from founding investor Forty51 Ventures. The capital will be used to advance its portfolio of pre-clinical stage, pan-PIM kinase inhibitors to uniquely modulate multi-lineage immune cell functions.
PIM kinases are gateway kinases in multiple immune cell lineages (including B and T effector cells) driving excessive inflammation. Elevated PIM kinase may further contribute to the formation and maintenance of tertiary lymphoid structures (TLS) which are associated with disease severity and progression.
Autoimmune diseases impact over 23 million in US alone. Despite recent progress and novel treatment options, significant unmet needs remain due to poor response rates and adverse safety profiles of currently available treatment medicines.
Mysthera’s founding management team and board of directors brings considerable experience, leadership and a successful track record across research and development.
“Leveraging our deep expertise in PIM kinase and immunology, we are pursuing a highly differentiated approach to tackle complex autoimmune diseases. We believe this will result in new treatments to change the lives of patients globally“, said Darren Cunningham, co-Founder and Chief Executive Officer at Mysthera Therapeutics.
“PIM inhibition most critically hits effector B and T cells at the site of inflammation and inhibits their activation” added Dr. Stefan Haak, co-Founder and SVP R&D at Mysthera Therapeutics. “Our approach is uniquely positioned to also silence the essential cross-talk between these cells, impeding the pathogenic TLS formation associated with more erosive disease.”
About Mysthera Therapeutics
Mysthera Therapeutics AG was founded in Basel, Switzerland by Forty51 Ventures in 2023. Pursuing a first-in-class therapeutic approach, Mysthera plans to reshape the treatment landscape for autoimmune disease. PIM kinase inhibition uniquely and selectively modulates immune cell function in multiple lineages associated with complex disease. The company’s pipeline includes pre-clinical stage, PIM kinase inhibitors in-licensed from Inflection Biosciences Ltd. For more information, please visit www.mystheratx.com
About Forty51 Ventures
Forty51 Ventures is a Basel-based venture capital firm with its core strategy focused on company formation and early-stage investments in biotech with geographic emphasis on Switzerland, France and Germany. Forty51 Ventures leads and co-leads early financing rounds (Seed and Series A) of its growing portfolio which includes both academia and Pharma/Biotech spin-outs.
Series B round led by Cathay Innovation will provide capital to make key hires and accelerate product development to meet growing customer demand
LOS ANGELES, Aug. 21, 2023 — Ghost, a members-only B2B marketplace for surplus inventory, today announced it has raised $30 million in Series B funding, bringing the total to $68 million to date. Venture capital firm Cathay Innovation led the round with participation from existing investors Union Square Ventures, Equal Ventures and Eniac Ventures. The company will use the funds to hire for several roles in product, engineering and design while developing its platform further to meet rising demand.
Since coming out of stealth with a $20M Series A in July of 2022, Ghost has been on a rapid growth trajectory. The company has experienced a 500% increase in uploaded inventory in the last year, gross merchandise value (GMV) run rate has increased over 10x year-over-year and the team has doubled in size. Ghost now counts over 1,000 members on its platform, including some of the world’s best brands and global retailers in categories such as apparel, footwear, beauty and home goods.
“Ghost has found a way to fundamentally change the industry and unlock billions for both buyers and sellers by focusing on access,” said Simon Wu, Partner at Cathay Innovation, who is joining Ghost’s board. “By allowing sellers to stop being ‘price takers’ and generate superior recovery rates while simultaneously granting buyers access to premium, highly sought-after inventory previously unattainable, Ghost grows the pie and creates win-win solutions for all parties. We’re excited to partner with Josh and Dee — two well-known commodities in retail and tech and a natural founder-market fit — as they work to scale and expand into new categories and geographies.”
Co-founders Josh Kaplan and Dee Murthy witnessed the challenge of inventory management first-hand at fashion holding company Five Four Group and started Ghost to solve the ever-evolving problem. Launched in 2021, Ghost offers a members-only B2B marketplace where brand sellers can discreetly and efficiently monetize their surplus inventory to vetted buyers. Its easy-to-use platform is a one-stop-shop for retailers and brands to buy, sell, price and ship excess goods powered by a data engine for greater discovery and increased conversion for buyers and sellers.
“We are leveraging data science and technology to solve a problem that has previously been addressed with phone calls and fax machines,” said Josh Kaplan, Co-CEO of Ghost. “Our alpha is the ability to predict everything from market pricing to sell-through, which is extremely powerful information for our customers. Through our team’s deep expertise in the retail sector, Ghost has gained the trust of global brands across fashion, beauty, footwear, home goods and more. We are expanding our reach across the globe and connecting more of the world’s best retailers than ever before.”
Dee Murthy, Co-CEO of Ghost said, “With Cathay Innovation, we’ve gained a partner with an extensive understanding of the retail industry along with invaluable connections to a global consumer ecosystem that will help Ghost reach brands across the US, Europe and Asia. We look forward to working with them as we expand, grow and take Ghost to the next level.”
About Ghost: Ghost is the world’s leading B2B platform for brands and retailers to exchange surplus inventory. The members-only marketplace solves the frustrations that have held back brands for far too long. By combining user-friendly technology with industry data, Ghost is shaping the future of retail and offering an all-in-one solution for buying and selling goods effortlessly.
About CI: Cathay Innovation is a global venture capital firm, created in affiliation with Cathay Capital, investing in startups at the center of the digital revolution across North America, Latin America, Europe, Asia and Africa. Its global platform unifies technology investment across continents, investors, entrepreneurs and leading corporations to accelerate startup growth with access to new markets, invaluable industry knowledge and introductions to potential partners from the start. As a multistage fund with over $2B assets under management and offices across San Francisco, New York, Paris, Shanghai, Beijing and Singapore, Cathay Innovation partners with visionary entrepreneurs and startups positively impacting the world through technology.
SAN JOSE, Calif., Aug. 21, 2023 — Startup World Cup, one of the biggest and richest startup pitch competitions in the world, successfully hosted their highly anticipated flagship Startup World Cup Silicon Valley Regional competition on August 3, 2023.
Out of the Top 15 finalists, Mitra Chem, which is utilizing a machine learning advantage to accelerate the commercialization of next generation iron-based cathode materials in the west, became the champion. This achievement paves the way for their participation in the Startup World Cup Grand Finale to be held in San Francisco on December 1, 2023 for an opportunity to win a $1,000,000 investment prize.
The event was organized and by Pegasus Tech Ventures, a Silicon Valley-based global venture capital firm. A panel of independent venture capital investors judged the pitches of the finalists and ultimately awarded Mitra Chem as the winner.
“We are delighted by the quality and enthusiasm of the entrepreneurs who are competing,” said Anis Uzzaman, Founder and CEO of Pegasus Tech Ventures, who created the Startup World Cup competition in 2016. “Each year we’re impressed by the quality of startups who applied and presented. I look forward to seeing Mitra Chem on the Grand Finale stage.”
With more speakers to come, Barbara Corcoran (ABC’s Shark Tank Star), Vinod Kholsa (Founder of Khosla Ventures), Tekedra Mawakana (Co-CEO of Waymo), Christoph Schell (CCO of Intel), Sundeep Jain (CPO of Uber), and Daniel Sturman (CTO of Roblox), and more are already confirmed to attend the Grand Finale on December 1st, 2023 in San Francisco. (https://www.startupworldcup.io/grand-finale)
Event Details:
Startup World Cup 2023 Grand Finale December 1, 2023 San Francisco Hilton Union Square
Startup World Cup is a global conference and competition with the goal of bridging startup ecosystems worldwide. The competition gives startup companies from all over the world a chance to win a US $1,000,000 prize in the form of an investment. This year, there will be 50+ regional events across North America, South America, Europe, Africa, and Asia, leading up to the Grand Finale in San Francisco in September. Startup World Cup is organized by Pegasus Tech Ventures, a Silicon Valley-based global venture capital firm.
About Startup World Cup 2023 Grand Finale:
The Startup World Cup Grand Finale will take place in San Francisco, December 1, 2023. Past Startup World Cup Grand Finale events featured prominent figures from the high-tech community, including John Chambers (Former CEO of Cisco), Steve Wozniak (Co-Founder of Apple), Reid Hoffman (Founding CEO of LinkedIn), Vinod Khosla (Co-Founder of Sun Microsystems), Adam Cheyer (Co-Founder of Siri), Marc Randolph (Co-Founder of Netflix), and Jay Vijayan (Former CIO of Tesla). The Grand Finale judging panels have included prominent investors from Kleiner Perkins, Y Combinator, Techstars, Intel Capital, 500 Startups, GE Ventures, DFJ, Social Capital, and Index Ventures.
NEW YORK, Aug. 18, 2023 — Crypto is crashing but the Wall Street Memes coin has raised $25 million in its presale and today officially announces its new staking service and top-tier exchange listings coming on September 27th.
Meme stocks-inspired community-powered coin Wall Street Memes is now only around $900k away from entering the last stage of its 30-stage tiered presale. The token’s price rises from $0.033 to $0.0337 in the final 30th stage, as the presale accelerates toward sellout when it reaches its end goal of $30 million.
Madness of the crowd – Wall Street Memes is monetizing the meme stocks movement by bringing the ‘little guy takes on Wall Street’ vibe to the crypto space
There really is no time to lose to get in on the ground floor of what is shaping up to be the biggest presale of the year – Wall Street Memes has raised more than $350,000 in the past 12 hours as the raise run rate quickens, with only 40 days to go until CEX listings.
The Wall Street Memes staking service is growing fast. At lightning speed, 7% of the presale allocation of 1,000,000,000 tokens (50% of the total token supply) has been deposited.
Buy $WSM now, and you can start earning up to 283% APY on your staked coins
Stakers can currently earn an annual percentage yield of 283%, according to the staking dashboard.
At the time of writing, the staking pool totals 70,534,061 tokens so far, and that figure could quickly rise to a majority of the presale supply as holders take the opportunity to lock in yield.
Although the APY will drift lower as more tokens are deposited into the smart contract, it will likely still be in triple or high double figures by the time of launch, adding further incentive for prospective buyers of $WSM.
Staking was only launched on Thursday, but eagle-eyed community members had spotted it was available two days earlier as part of a stealth rollout.
The significance of staking cannot be overstated. Because it provides a passive income stream, it will encourage long-term holding of the coin.
Staking will help to make Wall Street Memes crashproof
At the same time, as far as the capital tied up in the coins is concerned, it provides price stability by bearing down on any selling pressure when $WSM launches on major centralized exchanges (CEXs) in September.
This is not based on idle speculation but instead gleaned from the actual market experience of a new type of ‘version 2’ coin that puts staking front and center in a similar way to $WSM – btc20.com.
BTC20 is a ‘version 2’ coin that launched straight to DEX with a maximum 21 million token supply (just like bitcoin) and stake-to-earn model that pays out on a schedule that replicates BTC block production since 2011.
BTC20 is trading up 80% since its launch just over a week ago and has been subject to no downward lurch in the present crypto crash.
Hot on the heels of the staking rollout, Wall Street Memes’ reveal today that CEX listings are already confirmed at major trading venues is welcome news for $WSM token holders and is adding to FOMO.
Wall Street Memes boasts a 1 million-strong community of savvy retail investors
Boasting a social community of more than one million savvy retail investors, Wall Street Memes emerged as a champion of retail investors in the meme stocks movement in 2021.
Wall Street Memes coin is one of the largest fundraises in the crypto market this year and is the brainchild of the team behind the one million-strong social Wall Street Memes community. It is one of the internet’s most influential retail investing communities.
The founders of WSM know a thing or two about NFTs. They famously made $2.5 million when, in 2021, they minted the highly successful Wall Street Bulls 10,000-piece NFT collection, which sold out in 32 minutes.
With that sort of proven crypto execution power, the WSM crew is going to take the crypto meme coin sector by storm when its lists and more products start to launch under the Wall Street Memes brand, driving up the utility value of the stake-to-earn community coin.
Alongside the existing brand power of Wall Street Memes among retail investors, the crypto project has another thing going for it that competing meme coins lack – verifiable legitimacy.
When the likes of multi-billionaire Elon Musk interact with your Twitter feed (now rebranded as X), you know you have arrived. That’s exactly the enviable situation that $WSM is in, as can be seen by just a couple of Musk’s posts on the @wallstmemes Twitter feed:
When it comes to meme coin influencers, they don’t come any bigger than Elon Musk, which is yet another reason why the Wall Street Memes token presale is already such a staggering success.
Mystery product in the works at Wall Street Memes, according to sources
As it closes on its $30 million hard cap target, Wall Street Memes has earmarked 30% of its tokens for community rewards.
But its plans don’t stop at staking. According to those with knowledge of the matter, the team is planning a major product release before or soon after the coin lists.
The aim of the Wall Street Memes coin is nothing short of monetizing the investor-focused social movement that, at its height, saw bands of retail stock buyers coordinating their efforts on the Reddit sub WallStreetBets, taking on Wall Street and winning.
Now Wall Street Memes is bringing the same swashbuckling spirit to crypto. Although the raison d’etre of crypto was about supporting the little guy against institutional power, in some respects, it has strayed from that goal.
Wall Street Memes wants to get back to basics and provide a way for those who supported the ideals behind the speculative frenzy that undoubtedly underpinned the meme stocks frenzy to be winners in crypto.
Wall Street Memes – fair presale that’s ideal for sophisticated risk management
Wall Street Memes is not just the biggest presale of the year, it is also one of the fairest.
Fifty percent of the token supply of 2 billion is available in the presale: 30% as community rewards, 10% for CEX liquidity, and 10% for DEX liquidity.
And with the addition of the staking utility to $WSM, token holders are being rewarded for their early commitment to the project.
If it hasn’t already, Wall Street Memes will become even more of a magnet for the funds of switched-on sophisticated crypto investors looking to diversify their portfolio and control capital risk – a passive income vehicle like Wall Street Memes is ideal for meeting those investment goals.
Wall Street Memes is the best crypto to buy today, says a growing roster of crypto analysts
The brand allure of Wall Street Memes and the ongoing success of its presale means that it is already a top coin before it even hits the spot market.
Crypto experts are lining up with a bullish forecast for Wall Street Memes coin.
YouTube cryptocurrency analyst Crypto Faro with 58k subscribers, dubs $WSM a Shiba Inu coin killer, although some might say that the SHIB team’s disastrous rollout of its Shibarium Layer 2 mainnet is achieving that death wish all by itself.
Another analyst, Michael Wrubel, this time with 310k subscribers on YouTube, is putting his money where his mouth is and has invested in $WSM.
And avid crypto presale watcher and expert analyst Jacob Crypto Bury reckons Wall Street Memes could be the best crypto to buy today, with only six weeks to go before it lists on top exchanges.
For other crypto financial influencers, $WSM could be the next Pepe coin because of its ability to monetize the meme stock movement.
Given the marketing strength being demonstrated by Wall Street Memes at this relatively early stage in its roadmap and the start of utility-enhancing product rollouts, expect the remaining tokens to be snapped up in short order.
Where to Get Your Wall Street Memes Token – And Enter the $50k Airdrop
$WSM can be bought on the Ethereum blockchain and BNB Smart Chain using ETH, BNB, or USDT (ERC-20 or BEP-20). If you wish to stake now, then you must buy with ETH.
You can also buy with a credit or debit card. Whichever route you choose to buy, be sure to do your own research and make sure to only invest what you can afford to lose.
All that prospective buyers need to do is connect their funded crypto wallet on the wallstmemes.com website to make their purchases.
After investing, you can join the Wall Street Memes competition, where five lucky degens can benefit from a $50,000 $WSM airdrop.
If you are a $WSM token holder, then you can click on the button at the Wall Street Memes Linktree page to complete the steps to qualify for the airdrop.
Wall Street Memes, the king of stonks, is quickly becoming the king of a new category of meme coin with solid utility value. It is not too late to get on board the most-talked-about presale opportunity in crypto.
The additional financing supports the further development of its suite of advanced personalized health tests and expansion into key nationwide retailers such as CVS
BELLEVUE, Wash., Aug. 18, 2023 — Viome Life Sciences, a longevity company committed to translating scientific advancements into practical and individualized health solutions, today announced the successful closure of its $86.5 million oversubscribed Series C funding round. Major investors include Khosla Ventures, Bold Capital, WRG Ventures, and other existing ones as well as new ones. The raise brings Viome’s total to $175M and will be used to support research and development and retail expansion efforts.
Today also marks the launch of Viome’s groundbreaking Gut Intelligence Test into 200 CVS locations nationwide. It will be the first-ever gut test available in the national retail chain both online and in-store, underscoring the test’s strong consumer demand and the need for health optimization tools. This news comes off the heels of Viome’s Oral Health Solutions announcement last month which applied its holistic approach and proprietary RNA sequencing technology to usher in a new era of oral health with an emphasis on prevention and long-term care.
“In a world where healthcare has often been reactive, treating symptoms and targeting diseases only after they manifest, Viome is pioneering a transformative shift by harnessing the innate power of food and nutrition. Our mission is not just to prolong life but to enrich it, enabling everyone to thrive in health and vitality,” said Viome Founder & CEO Naveen Jain. “At Viome, we’re empowering our customers with an individualized nutrition strategy, cutting through the noise of temporary trends and one-size-fits-all advice. We’re on a journey to redefine aging itself, and we’re invigorated by the support of our investors and customers. Together, we’re building pathways to wellness that hold the potential to enhance the lives of billions of fellow humans across the globe.”
Viome’s unique perspective on health goes against a one-size-fits-all diet and uses science to compute the optimal outcome for each consumer based on their unique human and microbial gene expressions. Today’s nutritional practices do not account for our biochemical individuality and are contributing to the onset and progression of many chronic diseases. Viome’s data-driven approach is highly individualized and doesn’t rely on generic nutritional guidelines that treat all humans as similar. Utilizing AI and advanced algorithms to analyze the world’s largest gene expression data from over 600,000 samples, Viome has developed at-home tests and custom-made health products to provide each individual with precise nutrition their body needs. This includes a supplement formula made unique to every single individual as well as a personalized biotic blend for gut health and personalized oral biotic lozenges, for oral microbiome health.
“We made the strategic decision to invest in Viome, recognizing the groundbreaking fusion of its one-of-a-kind RNA technology with state-of-the-art AI. Coupled with an unparalleled repository of biological data, this synergy doesn’t just hint at a revolution; it marks the dawn of a new era in healthcare. The promise here is staggering: the very prevention of an epidemic wave of chronic diseases, spanning mental, metabolic, cognitive, and digestive health,” said Robbie Schwietzer, Partner at Khosla Ventures. “Our partnership with Viome isn’t just an investment; it’s a commitment to medical innovation. We’re not merely excited; we’re inspired and resolved to continue supporting Viome as they sculpt the future with revolutionary products that will redefine the paradigms of health, from early-stage cancer diagnostics to personalized nutrition solutions that respond to the individual’s unique biological signature.”
Viome was founded in 2016 and is backed by a team of world-class industry experts, translational scientists, nutritionists, researchers, doctors, and advisors focused on a single mission: to improve health by delivering scientific breakthroughs that address the root causes of chronic diseases, cancer, and aging. Viome believes that by further understanding the way the microbiome interacts uniquely with every individual, it can empower individuals with insights and actionable recommendations that are needed to live a long and healthy life.
The Series C funding round represents a significant milestone for Viome, showcasing its position as a leader in science-backed, personalized health solutions. For more information about Viome and its solutions, please visit www.viome.com.
About Viome Viome is a pioneering longevity and preventative healthcare company committed to bridging the gap between scientific breakthroughs and their practical implementation as health solutions. Utilizing cutting-edge AI and the world’s largest gene expression database, Viome’s home-based tests offer individuals personalized nutritional guidance and innovative microbiome health products to enhance both lifespan and healthspan.
Viome has empowered over half a million users with its unique approach that marries groundbreaking proprietary RNA sequencing methods with AI technology. This combination analyzes epigenetic biomarkers, providing robust, AI-driven health insights that contribute significantly to promoting a healthy lifespan.
Together with its top-tier precision nutrition recommendations, Viome offers a comprehensive and personalized solution to aging – at its optimum. This is more than just health optimization, it’s a revolution in understanding how we age and enabling us to do so with vitality and wellness.
BERKELEY, Calif., Aug. 18, 2023 — Venteur, the digital health startup helping companies provide personalized health insurance options to their employees, has closed a seed funding round at $7.6 million. The funding is led by GSR Ventures, with participation by Headwater VC, Revelry Venture Partners, Houghton Street Ventures, Plug and Play, Techstars, CRCM Ventures, and various strategic angels.
Venteur enables businesses to empower their employees with control over their own health care by offering an Individual Coverage Health Reimbursement Arrangement (ICHRA). Using Venteur’s platform, employers provide pre-tax dollars to buy health insurance. Employees receive a digital wallet and are invited to Venteur’s marketplace to shop for health insurance coverage. The marketplace is powered by proprietary AI decision support tools, which leverage 30 years of medical claims data to make personalized suggestions on the best health plans for each employee.
“The ability to choose and keep our health insurance plan saved my dad’s life,” said Stacy Edgar, CEO and co-founder of Venteur. “Our goal is to bring this same health care decision-making control to all Americans. As we scale, the power of Venteur’s model is that it fundamentally re-aligns financial incentives, so that the whole health care system is aligned to serving consumers instead of intermediaries.”
Led by sibling co-founders Stacy and Tim Edgar, Venteur is building the health insurance system of the future. The sibling team was motivated to start the company after growing up amid their parents’ 30-year struggle with health insurance costs.
“Traditional group health insurance models entrust your employer as the fiduciary and guardian of your health,” said Tim Edgar, Venteur’s Chief Technology Officer. “You’re giving them permission to change what doctor you go to and what prescriptions you can afford. When you rely on specific doctors and specific prescriptions and specific support structures to keep you alive, why trust that to someone else?”
Venteur’s concierge-style ICHRA experience has been especially popular among larger employers, in addition to small businesses. Early customers emphasize how the staggering cost-savings from the ICHRA model have enabled them to avoid layoffs and save jobs. Venteur estimates that the ICHRA model can save more than 5,000 employers – representing a total workforce of 20 million employees — at least $250 per employee per month while at the same time allowing them to provide more robust health insurance coverage to their workforce.
“There’s been a shocking lack of innovation in the health insurance space alongside a need for a platform that offers the modern employee more control over their insurance coverage,” said Yuechen Zhao, partner at GSR Ventures.”Venteur is helping to transform how employers will provide health insurance to their employees in the future, and we’re are excited to help make that transformation happen.”
Matt Miller of Headwater VC and Managing Director of the United Healthcare Accelerator program echoed Zhao’s sentiment, saying, “The healthcare system should support every person and their unique situation, and platforms like Venteur are helping us move swiftly in that direction.”
About Venteur
Venteur helps companies offer their employees a selection of personalized, high-quality health benefits that work best for them. Since launching in 2021, Venteur has offered ICHRA solutions that give employees more say-so in their own health care options and give employers predictability in their benefits budget and control over costs. Venteur is building a better benefits system that provides the coverage employees want at a price point small businesses can afford. For more information, visit https://www.venteur.com/
Investment from leading VC firms follows significant revenue growth from $10 million in January 2021 to over $400 million today.
Teamshares has brought employee ownership to 84 small businesses, creating 2,100 new employee owners in 29 states and 42 industries.
NEW YORK, Aug. 18, 2023 — Teamshares Inc., the market leader for small business employee ownership, announced today it raised a cumulative $245M in previously unannounced equity from leading venture capital firms, including a recent $124 million Series D financing. The Series D round was led by Frank Rotman at QED Investors, with significant participation from existing investors Inspired Capital, Khosla Ventures, Slow Ventures, Spark Capital, and Union Square Ventures.
Teamshares network company Maggie’s Organics becomes employee-owned
Welcome to Teamshares.
Teamshares Inc. is an employee ownership platform for small business, driven by proprietary software, education, and financial products. Its mission is to create $10 billion of new wealth for employees through stock ownership. The company buys traditional small businesses from retiring owners to make them 80% employee-owned within 20 years, and provides the companies with new leadership, financial education, equity management software, and financial products. Teamshares
QED invested in back-to-back growth rounds as the company launched its neobank and began development on charge cards and insurance products for Teamshares’ network of employee-owned businesses. The Series D financing helps Teamshares further scale its model nationally and accelerate product development.
Teamshares is an employee ownership platform for small business, driven by proprietary software, education, and financial products. Its mission is to create $10 billion of new wealth for employees through stock ownership. The company buys traditional small businesses from retiring owners to make them 80% employee-owned within 20 years, and provides the companies with new leadership, financial education, equity management software, and financial products. The companies will be permanently owned by employee shareholders and Teamshares, and never need to be sold again.
“We founded Teamshares after a decade of hard-won experience running small businesses, delivering education at scale, and executing M&A transactions,” said Michael Sutherland Brown, Cofounder and CEO of Teamshares. “American small businesses rarely transition within a family anymore and face a 70% failure rate when trying to sell. Teamshares provides retiring owners with a financial exit and a legacy of employee ownership, while also preserving jobs and creating stock wealth for hard-working small business employees.”
“Teamshares is a unique company with a huge addressable market,” said Frank Rotman, Cofounder and Chief Investment Officer of QED Investors. “It combines an unmatched customer value prop and a compelling business model with an authentic social mission: employee ownership. Transitioning stock ownership from a single business owner into the hands of employees matches the shifting preferences of society. Employee ownership aligns the interests of all stakeholders and makes companies and people better off financially.”
Teamshares has grown from 4 companies with $10 million of revenue in January 2021 to 84 companies with over $400 million as of July 2023, creating 2,100 new employee owners in 29 states and 42 industries. The company believes employee ownership works in all industries, as illustrated by the broad cross-section of the American economy who have chosen Teamshares as their succession plan, with an average age of 30 years, including:
Teamshares’ win-win business model attracts talented presidents with strong business backgrounds to lead the companies as they transition to employee ownership. Leaders have joined as Teamshares presidents from a wide variety of leading organizations including Amazon, BCG, Deloitte, Tesla, USAA, Walmart, and branches of the U.S. military.
“USV has invested in every Teamshares round since co-leading their Series A because of their potential to be a generationally important company for small business and the broader American economy,” said Rebecca Kaden, Managing Partner at USV. “As a highly trusted brand that broadens access to capital, knowledge, and well-being via its employee ownership platform and network of companies, Teamshares was a good fit for USV’s investment thesis. We have been impressed with the company’s growth and execution since first investing in March 2020.”
“I founded Maggie’s Organics 30 years ago, with a commitment to treat people and the planet with care, and to try to always do the right thing,” said Bená Burda, former owner of Maggie’s Organics, now a Teamshares network company. “Transferring ownership of my life’s work to my employees seemed the natural next step to solidify my legacy and impact for future generations.”
About: Teamshares Inc. is an employee ownership platform for small business, driven by proprietary software, education, and financial products. Its mission is to create $10 billion of new wealth for employees through stock ownership. The company buys traditional small businesses from retiring owners to make them 80% employee-owned within 20 years, and provides the companies with new leadership, financial education, equity management software, and financial products. Teamshares is the market leader for small business employee ownership, with 84 companies acquired to date and over $400 million of consolidated revenue. Founded in 2019, the company has 140 employees across the U.S. and Canada. Learn more at https://www.teamshares.com/
Team of women’s healthcare visionaries builds a comprehensive virtual clinic through a whole-person care model for menstruation through menopause
Available through health plans and employer benefit plans, Visana leapfrogs narrowly focused women’s health point solutions with quality longitudinal medical care from Visana-trained doctors and nurse practitioners
Visana’s best-in-class clinical model caters to complex women’s health conditions without driving unnecessary spend for patients and payers
Flare Capital Partners and Frist Cressey Ventures co-led oversubscribed seed financing
MINNEAPOLIS, Aug. 17, 2023 — Visana Health, a virtual-first comprehensive women’s health clinic, today announced the close of $10.1 million in seed funding co-led by Flare Capital Partners and Frist Cressey Ventures. Also participating in the oversubscribed round are InHealth Ventures, Oxeon Partners, Pixel Perfect Ventures, Venture Investors, and others. Visana’s investors and the organizations they represent comprise over 30 of the nation’s leading healthcare organizations. They recognize that evidence-based, digital platforms like the one Visana offers are the best way to provide the comprehensive, clinical, and value-focused care women so desperately need.
Visana provides whole-person, inclusive clinical care for a wide range of women’s health conditions, including: menopause, endometriosis, fibroids, PCOS, contraception, UTIs, and more. Available in all 50 states through health plans and employer benefit plans, Visana offers quality longitudinal medical care from Visana-trained doctors and nurse practitioners.
On average, Visana’s patients have more than three co-morbidities, representing high-cost cases that demand comprehensive and coordinated management. Through a value-based care model, Visana has improved patient outcomes, demonstrated a 4:1 ROI for health plan and employer partners, and created a world-class experience tailored for women, as illustrated by its patient NPS of +90.
“Most women’s health solutions focus narrowly on maternity and fertility, missing the mark for the 90% of women who aren’t actively building a family,” said Shelly Lanning, co-founder and president, Visana. “We built Visana to provide women with in-depth care for all phases of life.”
The typical clinical model for women’s healthcare today leads to underdiagnosis, delayed treatment, and ineffective, expensive procedures. Visana offers the first and only tech-enabled clinical model that enhances patient care by seamlessly integrating high-touch technology and data-driven insights that lead to more efficient diagnoses, personalized treatment plans and improved health outcomes, including a reduction in the number of unnecessary costly surgeries. Visana’s evidence-based clinical care team model was developed by Chief Medical Officer Dr. Barbara Levy, a renowned and experienced physician who is a passionate advocate for health equity and building care teams that improve the quality of women’s health across all phases of life.
“Our enterprise partners are committed to providing quality care to women, but are experiencing point solution fatigue and frustration at the lack of meaningful improvement in patient outcomes. They view Visana as a complete solution that is uniquely able to engage women where they are and deliver evidence-based care in a seamless model that is proven to reduce costs,” said Joe Connolly, co-founder and CEO, Visana. “We plan to use this funding to develop and build on existing relationships with national health plans and Fortune 500 companies that need a comprehensive solution for women’s healthcare to support the well-being of their female employees and beneficiaries, and contribute to a healthier, more productive workforce and community.”
Margaret Malone, principal at Flare Capital Partners, and Olivia Capra, principal at Frist Cressey Ventures, will join the Visana Board of Directors.
Investor Comments “Visana is able to significantly move the needle on clinical outcomes improvement, where we have seen other disparate solutions falling short,” said Margaret Malone, principal, Flare Capital Partners. “The Visana model is a critical partner to existing incumbents in the market that may be more narrowly focused in terms of scope, customer, and clinical services.”
“We are thrilled to support Visana in its next stage of growth,” said former U.S. Senate Majority Leader Bill Frist M.D., co-founder and partner of Frist Cressey Ventures. “The health of women and their care experience has long been overlooked. Visana’s virtual clinical care model shows impressive outcomes while reducing costs for employers and health plans. Visana will transform the way women access and receive care.”
About Visana Health Visana Health is a virtual-first women’s healthcare company that provides comprehensive, whole person, coordinated care from menstruation through menopause. The company’s clinical model is designed to delight women and help achieve their optimal health while reducing the total cost of care. Learn more at: www.visanahealth.com
About Flare Capital Partners Flare Capital Partners is the leading early-stage healthcare venture capital firm advancing innovation-driven companies to improve positive health outcomes, broaden care access, and lower healthcare costs. We partner with exceptional founders solving healthcare’s hardest challenges, supporting each with our deep sector expertise, unparalleled industry resources, and proven access to commercial opportunities. Our team of established investors and senior operating executives has invested in 50+ companies and has nearly $1 billion in assets under management. To learn more about Flare Capital Partners, please visitflarecapital.com or follow us on Twitter @flarecapital
About Frist Cressey Ventures The Frist Cressey Ventures mission is simple: to transform healthcare to improve lives. We invest in technology and service businesses with viable solutions that improve quality of care, system integration, patient outcomes and population health and well-being.
We focus our time and attention on three key areas: recruiting top talent, connecting partnerships with our deep industry network and executing our partnerships’ plans to improve healthcare.
