IRVINE, Calif., Sept. 28, 2023 — GoDocs, a leader in automated commercial loan document automation, proudly announces its upcoming Managing Default Rates webinar (https://godocs.com/managing-default-rates-webinar-multistate-commercial-lending/.)

Steering through the ebb and flow of the market, commercial lenders face a critical task – skillfully managing default rates. It’s not just about gaining a competitive advantage; it’s about treading a fine line within the legal landscape, avoiding potential legal disputes, and ensuring compliance with the ever-evolving set of rules. This delicate balancing act, spanning diverse states and their specific regulations, is paramount to a successful lending approach. By mastering the intricacies of default rate management, lenders can guide their strategies effectively, reducing risk, and optimizing returns for increased profitability.

The webinar will delve into the formidable task of managing default rates across diverse states, each with its own legal intricacies and restrictions. Abigail Williams, Senior Director of Legal and Compliance at Lima One, takes a spotlighted position among the panelists, bringing invaluable expertise and real-world insights from her front-line experience at Lima One. Joining her are esteemed panelists: Ren Hayhurst, Sr. Counsel and Executive Director for Loan Automation at GoDocs; Zach Wallin, Lead Corporate Counsel specializing in Legal Operations at GoDocs; and Tucker Wade, Lead Corporate Counsel focusing on Legal and Compliance at GoDocs. They will collectively explore the nuances of maintaining a consistent lending approach amidst varying state-specific regulations, economic landscapes, and borrower demographics, providing participants with a gateway to understanding the critical balance required to structure loans effectively, minimize defaults, and maximize returns.

Essential Topics for Managing Default Rates
The Managing Default Rates webinar will address a wide range of mission-critical topics for commercial lenders, including:

• State-Specific Regulations – How to unlock key strategies to navigate complex state-specific regulations and optimize lending decisions.
• Laws and Best Practices – The latest intel on changing laws and industry best practices, ensuring your lending strategies remain compliant and effective.
• Impact on Profitability – Insights into the relationship between precise default rate management and increased profitability in commercial lending.
• Tools, Tips, Automation – A review of the essential tools and tips for optimizing processes, ensuring compliance, and enhancing adaptability in managing default rates.

“From our experience and continuous conversations with customers and lenders, we grasp the pressing need for commercial lenders to navigate a challenging and ever-changing landscape,” states GoDocs’ Executive Director for Loan Automation, Ren R Hayhurst. “Our approach is multifaceted, combining constant updates, best practices, and automation. By streamlining the management of default rates, our customers can optimize lending decisions and maintain more resilient portfolios.”

The Power of GoDocs^®
In addition to the webinar’s insights, attendees will discover how GoDocs provides a much-needed advantage when it comes to managing rates. GoDocs’ cutting-edge software is designed to automate and provide lenders with effective, compliant, and timely options to manage default interest rates. This not only ensures adherence to legal frameworks but also eliminates the potential for errors and inconsistencies that can lead to costly legal disputes. By leveraging GoDocs, commercial lenders can navigate the intricate landscape of default interest rates with confidence, knowing that they are equipped with the tools to comply with regulations seamlessly while optimizing returns.

About GoDocs
GoDocs is an innovative leader in automated loan document generation, transforming the commercial lending process. With our fully cloud-based platform, we provide a flexible digital solution that makes commercial loans more cost-effective to document and faster to close, all while maintaining compliance in all 50 states. As the only purely SaaS system for automated loan document generation, GoDocs offers a user-friendly experience that requires little to no training. Our SOC2 certification underscores our commitment to data security and confidentiality. Trusted by industry-leading banks, credit unions, and private lenders, GoDocs delivers clear, demonstrable value with our exceptional customer satisfaction, backed by our 100% onshore support. GoDocs — Experience the future of commercial lending with a one-stop digital closing ecosystem.

Media Contact 
Virginia Bush
VP of Marketing
GoDocs
949.274.7907
[email protected]

Website
godocs.com 

Social Media
Follow us on LinkedIn
https://www.linkedin.com/company/godocs

SOURCE GoDocs

Serial entrepreneurs complete strategic acquisition to drive innovation in mobile-first auto buying

INDIANAPOLIS, Sept. 28, 2023 — Overfuel, an Indianapolis-based digital retail platform designed exclusively for the automotive industry, has acquired 321 Ignition, a mobile-first car-buying website platform. The combined resources will enable rapid innovation and product development, giving dealerships better options when it comes to choosing a technology partner.

Overfuel aims to revolutionize the mobile-first automotive buying experience and put control back into the hands of the dealership. With a focus on speed and user experience, Overfuel provides automotive dealers with a platform to improve their online presence, including AI-enhanced websites, digital retailing and modern SEO practices to calculate ROI on marketing spend.

“In an industry that’s been technologically dormant, companies like Tekion have demonstrated that an appetite for innovation still exists, paving the way for a new wave of software companies,” said Ryan Pfenninger, CEO at Overfuel. “Dealerships don’t need another plugin or website vendor, rather a solution that works out of the box. That’s why Overfuel has set out to consolidate every step of the customer journey into a single-point solution. This acquisition represents a significant step in our mission to revolutionize the way dealerships serve their customers online.”

A benchmark report by Wattspeed revealed that only 39% of automotive websites meet Google’s recommended speed standards on mobile devices, ranking the automotive industry second-worst in terms of underperformance. Over 80% of car shoppers access these websites through mobile devices, presenting an immense opportunity for dealerships to engage with a wider customer base. Sluggish websites not only diminish search engine rankings but also yield lower conversion rates, incur higher pay-per-click advertising costs and potentially tarnish a dealership’s brand image.

“The opportunity in front of our combined teams is tremendous,” said DJ Haddad, Cofounder of 321 Ignition. “The biggest problem in this industry is the tech and the products available to dealerships. Oftentimes, their websites are hosted on antiquated solutions with a dozen plugins cobbled on top, which hinders customer experience and harms overall performance. Combined with Overfuel’s all-in-one platform, we’re tackling the major problems dealerships face while meeting the demands of modern consumers, particularly in the mobile-first era.”

In addition to the acquisition, Overfuel raised a $500,000 pre-seed funding round led by Elevate Ventures. The capital will be used to expand its onboarding and customer success team to support over 100 new customers signed since piloting in March.

“From a technical standpoint, many of the market leaders in this space have been around for over 10 years and haven’t focused on continued innovation,” said Christopher Day, CEO at Elevate Ventures. “We saw an interesting opportunity with Overfuel to solve a massive industry problem. The leadership team has deep SaaS experience with a track record of building great software. We are excited about Overfuel’s growth opportunity.”

To learn more about Overfuel, visit: https://overfuel.com/

About Overfuel 
Overfuel is the automotive industry’s first no-code, mobile-first website platform with built-in digital retailing, superior user interfaces (UI), localized SEO and secure online payments. Overfuel provides dealerships with state-of-the-art technology to grow their website traffic, connect with more customers and convert more leads — all in one place. To learn more about Overfuel, visit overfuel.com.

About Elevate Ventures
Elevate Ventures is the #1 most active seed and early-stage investor in the Great Lakes region and #5 in the United States. The firm assists high-growth startups and early-stage companies expand into high-performing companies. Elevate has invested over $150 million in more than 500 companies. To learn more about Elevate Ventures, visit elevateventures.com.

Media Contact
BLASTmedia for Overfuel
[email protected]
317.806.1900 ext 122

SOURCE Overfuel

Round includes multiple global institutional investors including Flagship Pioneering, Pictet, Partners Investment, and M&G 

Financing will enable completion of clinical validation of Harbinger’s first blood-based cancer screening product, further evidence-generation activities and continued organization scale-up ahead of anticipated 2025 product launch

CAMBRIDGE, Mass., Sept. 28, 2023 — Harbinger Health, a biotechnology company pioneering new technologies to fundamentally change cancer screening and detection, announced today that it raised $140 million in Series B funding. The financing round is comprised of the Company’s founder, Flagship Pioneering, alongside new global institutional investors including Pictet, Partners Investment, and Catalyst, M&G Investments’ purpose-led private assets strategy, among other investors. The new funds will be used to support the completion of Harbinger’s Cancer ORigin Epigenetics-Harbinger Health (CORE-HH) 10,000-participant clinical study of its novel blood-based cancer screening platform; develop its two-tier testing model; expand its data science and commercial teams and capabilities; and initiate additional clinical studies in high-risk populations.

Harbinger is developing a proprietary two-tier testing model with the goal of making cancer screening accessible on a global scale. Harbinger’s product development strategy is designed to enable low-cost population testing to achieve broad affordability, improve Positive Predictive Value (PPV) to reduce the burden of false positives, and quantitative individual longitudinal monitoring to better guide clinical decision making if cancer is detected. Harbinger’s platform, HarbingerHx, leverages machine learning, proprietary insights into the molecular biology of cancer’s origins, and growing datasets to develop insights that maximize clinical informativeness.

The Company expects to launch its first product – a laboratory developed test (LDT) for the detection of early cancer – in 2025. The LDT, the HarbingerHx platform, and the Company’s proprietary DNA library archiving technology together will make it possible to rapidly launch additional products over time, addressing specific disease types and population groups.

“At Harbinger, our goal is to lead the way to a future where cancer screening is routine, affordable and accessible for everyone,” said Stephen Hahn, M.D., CEO of Harbinger Health. “We have a unique opportunity to make cancer screening tools work better and work for more people through our biological and technical solutions. We are achieving this by combining machine learning with insights into the biology of cancer’s origins and individual risk in order to provide actionable information to providers, enabling them to guide improved clinical decision making for their patients. This is where I see our greatest potential to reduce cancer mortality rates in our lifetimes.”

“Since its inception, Harbinger has built a platform that integrates our ability to understand the underlying biology of cancer with the ability to aggregate large datasets to fuel product development to solve some of the greatest challenges in the cancer screening field today,” said Douglas Cole, M.D., co-founder and chairman, Harbinger Health and managing partner, Flagship Pioneering. “This current financing will enable us to scale and advance a proprietary product model that optimizes for performance, accessibility, and cost and ultimately seeks to provide the right test for the right patient at the right time.”

Harbinger has raised approximately $190 million in total funding since its formation in 2020. This funding round comes on the heels of multiple business and clinical milestones for Harbinger as it continues the acceleration of its two-tier, multi-cancer platform, including multiple appointments to its executive leadership team and data presentations demonstrating the performance of Harbinger’s platform.

About Harbinger Health

Harbinger Health is pioneering the detection of early cancer and enabling foundationally new approaches to cancer screening, diagnosis and management. The company combines advances in artificial intelligence with proprietary insights into the biology of the beginnings of cancer to identify cancer before it is visible or symptomatic with the aim of developing low-cost, multi-cancer blood tests. Harbinger envisions a future where, instead of keeping cancer from spreading, it could be kept from forming, making a cancer diagnosis a routine health problem to be addressed rather than a life-altering event to be feared with profound implications for people, healthcare systems and societies. Harbinger was founded by Flagship Pioneering after three years of foundational research in its Labs unit and launched in 2020. Learn more about Harbinger by visiting www.harbinger-health.com or following us on Twitter (@harbingerhlth) and LinkedIn.

Media Contact
press@harbinger-health.com

SOURCE Harbinger Health

GERMANTOWN, Md., Sept. 28, 2023 — Maryland-based biotech company Deka Biosciences (“Deka”) today announced that it has successfully closed a USD $20 Million Series B2 financing with a syndicate of life science investors led by MPM BioImpact, and joined by additional investors including Leaps by Bayer, O-Bio (Echo Investment Capital), Viva BioInnovator, Alexandria Venture Investments, Amana Investments, Plains Ventures, ATEM Capital and CEO John Mumm. The proceeds of the financing will support the advancement of Deka’s pipeline and drug product manufacturing as they continue clinical trials following the receipt of a notice to proceed letter from the FDA for their investigational new drug (IND) application to evaluate DK2¹⁰ (EGFR). Additionally, Detlev Biniszkiewicz, Ph.D. of MPM-BioImpact, will join the Deka board.

 “This financing round is a significant milestone. We appear to be the only company that has dissociated IL-2 potency from toxicity,” said Dr. John Mumm, CEO of Deka. “It is gratifying to be supported by investors who recognize the potential of our innovative science to radically improve immunotherapy treatments by evaluating each patient’s immune system and combining biology with the power of precision medicine.

We have only raised $55 million to date and are already proceeding to dose our third cohort in our Phase 1 clinical trial. Thus far, we have established safety and clear signs of immune activation in our first 2 cohorts. We are encouraged by these results and believe that this combined approach will result in safer, more efficacious, and cost-effective immunotherapies.”

“Deka’s unique vision of rationally combining multiple cytokines in a single therapeutic, and the potential impact this could have for patients suffering from cancer and autoimmunity, was deeply intriguing to the MPM BioImpact team,” said Dr. Detlev Biniszkiewicz, Managing Director at MPM BioImpact. “We are impressed by the ability of DK2¹⁰ to improve the safety parameters of IL-2 while maintaining potent anti-tumor responses in cancer patients, and we are thrilled to be working with the Deka team in developing their innovative approach.”

The funding follows the seed round investment of USD $5 million led by CEO John Mumm, Series A financing of USD $20 million announced in November 2021, co-led by Leaps by Bayer and ECHO Investment Capital, and a USD $21.5 million Series B1 co-led by Lumira and Leaps by Bayer in 2022. The previous financings have enabled Deka to advance a pipeline of multiple Diakines^TM, conduct critical IND enabling experiments, manufacture drug substance/drug product with Cytovance Biologics, start the first Phase I clinical trial, as well as to expand into a new facility.

About Deka Biosciences
Deka Biosciences is a biotech company led by entrepreneur Dr. John Mumm, who is backed by a team of experienced academic, biopharma and CDMO innovators with expertise in drug discovery, product development, characterization, and testing. Deka has developed disease specific Diakines™ designed to maximize patient benefits through improved pharmacokinetics / pharmacodynamics function by the targeted accumulation of dual and complimentary cytokines into affected tissues. Through developing a better understanding of each patient’s immune response to different Diakines™, Deka hopes to maximize the impact of its Diakines™ by building specific targeted therapies for everyone.

SOURCE Deka Biosciences

— Proceeds Will Fund Completion of GT-30 Trial of Personalized Therapeutic Cancer Vaccine in Liver Cancer —

— Shanghai-based SHC Added to Geneos’ Investor Syndicate —

PLYMOUTH MEETING, Pa., Sept. 27, 2023 — Geneos Therapeutics, a clinical stage biotherapeutics company focused on the development of personalized therapeutic cancer vaccines (PTCV), today announced that it has completed its Series A3 financing round with an additional investment of $5 million, totaling $10 million. This investment adds Shanghai Healthcare Capital (SHC) to Geneos’ investor syndicate. Dr. Jing Bao will join as a board observer, bringing extensive expertise in the pharmaceutical industry and with global clinical trials.

“We are pleased to add SHC to our investor syndicate and Dr. Bao to our team. The depth of knowledge the SHC team brings as well as their network in China will be invaluable to Geneos, especially as we pursue hepatocellular (liver) cancer as our initial target,” stated Niranjan Sardesai, PhD., president and chief executive officer of Geneos Therapeutics.

“The results that Geneos has achieved to date in the clinic with its personalized therapeutic cancer vaccine are impressive, and we are pleased to support Geneos’ further clinical development of this important treatment,” stated Jing Bao, MD, partner of SHC.

Proceeds Will Fund Completion of Phase 1b/2a GT-30 Program
GT-30 is evaluating the safety, and efficacy of PTCV (GNOS-PV02 plus plasmid-encoded IL-12) administered in combination with the immune checkpoint inhibitor pembrolizumab, in 36 patients with unresectable or metastatic hepatocellular carcinoma (HCC) who progress on, or are intolerant to, first-line tyrosine kinase inhibitors (sorafenib or lenvatinib). Study enrollment completed in June of this year with the top-line safety and clinical response data from the complete cohort of 36 patients is anticipated by the end of the year.  https://classic.clinicaltrials.gov/ct2/show/NCT04251117. 

About Shanghai Healthcare Capital
With the approval of the Shanghai municipal government, Shanghai Industrial Investment (Holdings) Co., Ltd. (SIIC) established Shanghai Healthcare Capital (SHC) with market-oriented, professional and international operation principles. The total fund scale of SHC reached around 7 billion USD. By making full use of the comprehensive advantages of Shanghai, Shanghai Healthcare Capital utilizes the industrial resources to create a leading innovative investment platform in the life science industry based in Shanghai and Hong Kong, with strong links to the Yangtze River Delta and the world, so as to assist Shanghai to establish a top tier biomedical research and development center and manufacturing center in the world. The fund focuses on breakthrough biologics, innovative chemical drugs, high-end medical devices and diagnostics, and innovative business platforms, not only through the integration of capital and industrial resources but also international and domestic operations. For more information, please visit www.siicshc.com.

About Geneos Therapeutics
Geneos Therapeutics, a privately held, clinical stage biotherapeutics company, believes that the company’s personalized therapeutic cancer vaccines (PTCVs) may serve an important role in new immunotherapeutic paradigms for cancer. The company’s approach, using its proprietary GT-EPIC™ platform, is to target neoantigens (abnormal mutations produced by cancer cells) from individual patient tumors to develop novel and uniquely personalized treatments for cancer. Planning is underway for a potentially registrational clinical trial in advanced hepatocellular carcinoma. Geneos’ experienced management team has a track record of success in building immunotherapy-based companies. For more information, please visit www.geneostx.com.

This press release contains certain forward-looking statements relating to our business, including our plans regarding the development of personalized therapeutic cancer vaccines, our expectations regarding our research and development programs, including the planned expansion and conduct of clinical trials and the availability and timing of data from those trials, and the use of our capital resources. Actual events or results may differ from the expectations set forth herein. There can be no assurance that any product candidate in Geneos’ pipeline will be successfully developed, manufactured or commercialized, that final results of clinical trials will be supportive of regulatory approvals required to market licensed products, or that any of the forward-looking information provided herein will be proven accurate. Forward-looking statements speak only as of the date of this release, and Geneos undertakes no obligation to update or revise these statements, except as may be required by law. 

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

SOURCE Geneos Therapeutics, Inc.

SAN JOSE, Calif., Sept. 27, 2023 — UnitX, a robotics company building next-generation AI vision systems at the forefront of quality and yield management in manufacturing, is proud to announce a $5 million investment from SE Ventures, a Silicon Valley-based venture fund backed by global energy and automation giant Schneider Electric.

UnitX, through its software-defined vision system (“OptiX”) and its edge AI compute platform (“CorteX”), delivers unparalleled inspection and defect detection capabilities to manufacturing customers. This technology can drive step-change improvements in the detection of visual defects that often escape error-prone and overworked human inspectors or legacy machine vision systems. By partnering with UnitX, customers can significantly reduce scrap, improve yield, and maintain the highest quality standards.

“We have looked at every major startup in this category in the past two years and it is clear to us that UnitX has cracked the right product and go-to-market approach to quickly deliver significant ROI to large enterprise customers,” said Varun Jain, General Partner at SE Ventures. “Moreover, they are focused on large yet underserved market segments like electric vehicle and lithium-ion battery manufacturing that are going to see a significant capacity expansion in the near future.”

“UnitX is one of the fastest growing players in our category and our systems are running on the production lines of the world’s top manufacturers in Li battery and automotive. That said, the deep domain knowledge of the SE Ventures team coupled with the complementary offerings with Schneider Electric’s market leading automation and software solutions will enable UnitX to deliver value to manufacturers on a larger scale,” said Keven Wang, CEO & Co-Founder of UnitX.

The investment from SE Ventures will also help UnitX to expand its geographic reach and accelerate its mission to radically elevate quality, traceability, and profitability of manufacturing operations.

About SE Ventures:

SE Ventures is a €1B global venture capital fund backed by Schneider Electric. SE Ventures invests in big ideas and bold entrepreneurs who can benefit from Schneider’s deep domain expertise and global customer reach. Beyond providing capital, SE Ventures acts as a commercial accelerant for category-defining companies such as Augury, Claroty, AiDash, Aquant, AutoGrid, Poka, Scandit, Kojo, Enable and many other startups spanning climate tech, energy management, mobility, cybersecurity and industrial automation. To learn more, visit http://www.seventures.com

About UnitX:

UnitX is a robotics company pioneering next-gen AI vision systems that revolutionizes manufacturing by automating visual defect detection. Deployed across key manufacturing verticals, including lithium-ion batteries, electric vehicles, and automotive, UnitX enhances yields, reduces scrap, and elevates product quality. To learn more, visit https://www.unitxlabs.com

SOURCE UnitX

Axial Shift to Accelerate the Next Generation Operations Platform, Founded by Restaurant Veteran and Led by HotSchedules Founding Executives

AUSTIN, Texas, Sept. 27, 2023 — Axial Shift, the restaurant operations software provider that is revolutionizing the restaurant industry by providing all-staff level data access, as well as team member competitions and rewards, today announces a new partnership and $4M in seed funding from Silverton Partners.

About the Platform

Axial Shift creates gamified incentives that empower and engage frontline managers and staff, while providing actionable insights through real-time data from POS systems. The platform aims to simplify restaurant management and make frontline jobs more appealing, thereby improving staff retention rates.

Managers are able to foster healthy competition among team members, create contests, and set goals for frontline teams. Staff can see – in real time – how they are performing throughout their shift. They can earn badges, chase monetary incentives, and create winning streaks. Their efforts are benchmarked across teams to create an experience that makes work feel more like play and increased sales feel more like personal accomplishments. The result is empowered frontline managers, engaged staff, and increased sales across locations.

Using the Axial Shift platform, managers can also run their shift from their phones, showing real time labor actuals vs forecast vs ideal. They can also understand tip percentages in real time, review sales mix, and see how targeted items are selling by team member or location.

The Axial Shift platform also includes integrated tools that allow operators to consolidate their current tech stack, such as solutions for tip pooling, improved online scheduling, messaging across the entire organization, time and attendance, and access to a marketplace that allows them to integrate with popular apps, such as Airtable, Google Apps, Slack, and more.

Axial Shift customer, Brian Pearson, who is CTO of Mendocino Farms said, “With Axial Shift, we’re not only improving the quality and timeliness of information we give to our operations teams, we are reimagining ways to drive new value!”

About the Leadership

The leadership of the company is a trio of seasoned professionals from the restaurant industry. Justin Buckley, CEO and President, and Matt Woodings, Chief Technology Officer were both founding members of the executive team at HotSchedules, which ultimately served over 70,000 restaurants in 27 countries. Ellis Winstanley, who serves as Executive Chairman, founded Axial Shift to solve firsthand challenges operating eight restaurants, including Austin’s famous El Arroyo.

Buckley said, “We’re excited to partner with Silverton Partners. This reinforces our mission to bring the next phase of innovation to restaurant operations and will expand our platform to help more restaurants increase sales and make work more enjoyable and rewarding for their teams.”

About the Funding

Mike Dodd, General Partner with Silverton Partners said, “With Axial, we see an extremely exciting opportunity to truly change an industry for the better. Axial brings a new approach to doing business that drives higher strategic sales growth across locations – and they are doing it with a leadership team that has a proven track record in this industry across the last 20+ years.”

Axial Shift CEO and President Justin Buckley said, “This funding is really a tribute to the hard work of the Axial Shift team and their continued enthusiasm for what we do. I could not be more pleased and proud to have the recognition and support of Silverton, and I look forward to the next phase of our business growth!”

About Axial Shift

Axial Shift is a restaurant operations software provider that is revolutionizing the restaurant industry by creating gamified incentives that empower and engage frontline managers and staff, while providing actionable insights through real-time data from POS systems. Based in Austin, TX and founded in 2017, the company is led by industry veterans Justin Buckley, CEO and President, and Matt Woodings, CTO. Axial Shift is ideal for restaurants of all sizes, from independent single units to large chains. Customers include Mendocino Farms, El Arroyo, Chicken Express, Johnny Rockets and Sugar Factory. For more information, visit https://axialshift.com.

About Silverton Partners

The Silverton team partners with entrepreneurs who are dedicated to tackling growth markets and building lasting companies. In partnering with Silverton, companies benefit from its vast network and expertise from decades of growing and investing in successful businesses. Silverton Partners is based in Austin, TX, and was the initial institutional investor for AlertMedia, Billie, SailPoint, Storable, Silicon Labs, Self Financial, Apprentice, TurnKey Vacation Rentals, Ontic, WP Engine and The Zebra among others. For more information, please visit https://silvertonpartners.com. 

SOURCE Axial Shift

Gem Security’s CDR platform significantly shortens the time to detect, investigate, and contain cloud-native threats – redefining security operations for the cloud era

NEW YORK, Sept. 27, 2023 — Gem Security, the Cloud Detection and Response (CDR) company, today announced $23 million in Series A funding led by GGV Capital and joined by IBM Ventures, Silicon Valley CISO Investments (SVCI), an array of notable angel investors, and existing investor Team8. This oversubscribed Series A, hot on the heels of Gem’s Seed funding round, reflects investor trust based on solid market validation. This round follows the Seed round led by Team8, and brings Gem’s total funding to $34 million.

The adoption of cloud infrastructure is rapidly increasing and diversifying the attack surface for organizations. In fact, organizations today maintain, on average, 65% of their infrastructure in the cloud, with 72% leveraging multi-cloud¹. This new environment poses unprecedented threats and complexity, requiring novel approaches. As Gartner notes, “Modern malware and data breaches in cloud environments are often fileless and operate either solely in memory without leaving any trace on disk, or via APIs or integrated SaaS offerings, making it increasingly difficult or impossible to properly investigate with traditional forensic methods and tooling.”²

Since launching in early 2023, Gem Security has dramatically scaled ARR by helping secure cloud operations for dozens of global organizations in diverse verticals including financial services, healthcare, manufacturing, energy, and information technology. The company has also been recognized in Gartner® research twice this year; in the Cool Vendors™ for the Modern Security Operations Center report³ as well as a Sample Vendor for Cloud Investigation and Response Automation (CIRA) in the Hype Cycle for Workload and Network Security, 2023⁴.

While legacy approaches to detection and response have existed for some time, these traditional approaches fall short of solving the problem in the cloud era. The proliferation of cloud services across infrastructure, platforms, and software has fragmented the security landscape. Without tooling, security operations teams today struggle to manually collect and correlate the explosion of associated telemetry.

Gem Security delivers a purpose-built Cloud Detection and Response (CDR) platform that significantly shortens the time to detect, investigate, and contain cloud-native threats before it’s too late. Moreover, it centralizes real-time visibility into multi-cloud environments, as well as provides cloud-native forensics and automated incident timelining to understand the root causes of a cloud breach.

Gem Security not only supports all major infrastructure platforms (AWS, Azure, Google Cloud and Kubernetes), but has also successfully collaborated with the AWS and Azure teams to identify and fix vulnerabilities, improving security for millions of users. Gem’s platform easily integrates with existing security tools and workflows (SIEM/SOAR, CSPM, etc.), as well as leading platforms like identity providers, ticketing, source code repositories and secrets managers, leveraging the additional data for context analysis too.

“The cloud changes everything for security operations and incident response teams,” said Gem Security Co-Founder & CEO Arie Zilberstein. “Traditional detection and response approaches weren’t designed to address the dynamic and complex nature of multi-cloud environments, and cloud expertise is in short supply.

“Gem is redefining security operations for the cloud era, empowering teams with a simple, automated, and efficient approach that allows organizations to respond faster and minimize the impact of attacks in the cloud. Over the past year, we have earned the trust of our customers and partners and together we’ll keep enabling cloud transformation while minimizing risk.”

Gem Security’s holistic approach for Cloud Detection and Response bridges the gap between security operations and cloud complexity. The Gem team has years of experience as incident responders working on some of the most sophisticated cloud attacks in the world. Those lessons have been built directly into Gem’s comprehensive platform and workflows, enabling organizations to prepare, detect, investigate, and respond effectively.

“With the shift to the cloud, the security operations model needs to evolve,” said Oren Yunger, Managing Partner at GGV Capital. “Security teams don’t reliably know when they are being attacked, let alone why or how those attacks are occurring. Gem has built a unique platform that allows CISOs and their teams to prepare, detect, respond, and remediate cloud security attacks – with context and fast.”

¹ 2023 State of Cloud Threat Detection and Response Report, Google Cloud.

² Gartner, Emerging Tech: Security — Cloud Investigation and Response Automation Offers Transformation Opportunities, Lawrence Pingree and Mark Wah. 5 June 2023.

³ Gartner, Cool Vendors for the Modern Security Operations Center, Angel Berrios, Jeremy D’Hoinne, Pete Shoard, Evgeny Mirolyubov, Carlos De Sola Caraballo, 30 August 2023.

⁴ Gartner, Hype Cycle for Workload and Network Security, 2023, Charlie Winckless & Feng Gao, July 31, 2023

GARTNER, COOL VENDORS and HYPE CYCLE are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Gem Security
Gem Security is a rapidly growing Cloud Detection and Response platform provider that bridges the gap between security operations and cloud complexity. Headquartered in New York, Gem Security was founded by security industry veterans: CEO Arie Zilberstein, CTO Ron Konigsberg, and VP Product Ofir Brukner. Gem is funded by global investors such as GGV Capital, Team8, IBM Ventures, SVCI, and more. For more information, visit gem.security.

Media Contact:
Lazer Cohen
Concrete Media for Gem Security
[email protected]

SOURCE Gem Security

Capital raise to accelerate product and technology development and support expansion efforts to reshape communications to HCPs (healthcare professionals) across the globe

PARSIPPANY, N.J., Sept. 27, 2023 — Doceree, the leading global network of physician-only platforms for programmatic messaging, today announced a USD 35 million Series B round led by Creaegis, the leading digital and technology investment firm. Existing investors, Eight Roads Ventures, and F-Prime Capital, also participated in the round.

Driven solely by the mission to transform healthcare professional (HCP) marketing globally, the funds will enable Doceree to accelerate product development, augment technologies, scale global expansion, and expand team.

Founded in 2019, Doceree empowers pharmaceutical and life-sciences companies and healthcare media agencies with solutions that seamlessly reach HCPs on their networks and within their digital workflows, to achieve better patient health outcomes. The company, with its largest global network of HCP-only digital platforms, has made rapid strides in HCP communications through its programmatic messaging capabilities, to help clients across the globe maximize performance of their physician engagement initiatives.

“We are pioneering HCP messaging solutions that are first to market. It is incredible to watch our innovative products disrupt the space and drive adoption of programmatic technology in the life-sciences industry, not just in evolved markets like the US, but also elsewhere in the same vein. We have been able to simplify HCP engagement globally with our unique AI-enabled proprietary technology and offer quality end-to-end HCP-targeting solutions that have helped our clients succeed with profitable growth. The pharma messaging space is evolving at a fast pace and our solutions are aligned to meet the immediate requirements of the life sciences industry. The investment speaks volumes about the value we are creating in the space,” said Harshit Jain MD, Founder & Global CEO, Doceree. Jain further added, “We are growing massively and have competitive edge. We are thrilled about the future as we continue to expand and touch new horizons in the space.”

Doceree has grown more than 100% in the last one year with monthly revenue rising five folds between the Series A funding in April 2022 and now. The company has introduced category-first innovations on the demand and supply sides, including Doceree Enterprise, an HCP-focussed global Demand Side Platform (DSP), and Doceree Provider that empowers HCPs to improve health outcomes of their patients. Its HCP marketing ecosystem consists of custom-built solutions that equip life science marketers to engage with physicians at opportune moments with contextual messaging and evaluate campaign performances to improve script lift.

Prakash Parthasarathy, Managing Partner & CIO and Nitish Bandi, Partner, Creaegis, said, “We are excited to partner with Harshit and the Doceree team to support the company in its next phase of growth led by an industry leading digital platform driven by deep learning-based data models. Our past experience of investing in pioneering global SaaS companies and in the healthcare ecosystem will enable us to support the company’s mission to create superior outcomes for pharma brands, providers and patients.”

On the back of the huge response to its solutions in the US, India and the European markets, Doceree expanded its footprints to Africa, Southeast Asia (SEA), and the Gulf Cooperation Council (GCC), curating and iterating solutions that serve the specific needs of marketers in these regions.

“Doceree’s technology platform allows biopharmaceutical companies to connect with physicians like never before. The company’s impressive growth trajectory is an outcome of its unique, data-driven approach to enable communication with precision and relevance. It has been exciting to partner with Harshit and the team since their Series A round, and we are thrilled to continue supporting their pioneering work,” Ashish Venkataramani, Partner, Eight Roads Ventures.

A line-up of smart and connected solutions from Doceree’s product portfolio are awaiting launch in the months to come that will bring massive transformational change to the entire ecosystem globally. The products will facilitate HCP targeting like never before, enriching communications at multiple HCP touchpoints in the professional and clinical journeys of physicians.   

Investec advised Doceree on the Series B transaction.

About Doceree

Doceree is a global platform building unique solutions for healthcare professional (HCP) programmatic messaging with proprietary data tools. It facilitates messaging between life sciences brands and HCPs through an extensive global network of digital endemic and point-of-care platforms to programmatically deliver personalized communications to HCPs at scale. To learn more, visit doceree.com

About Creaegis

Creaegis is a growth investment firm focused on digital and technology businesses with a team history of investing in some of the digital pioneers in India and the US. The firm recently invested in companies such as Kale Logistics (Enterprise SaaS), Zopper (InsurTech) and Medikabazaar (HealthTech). http://creaegis.in/

About Eight Roads Ventures

Eight Roads Ventures is a global venture capital firm backed by Fidelity, with offices in India, China, Japan, and UK. Our 50-year history of investing includes partnerships with over 300 healthcare and technology companies. Eight Roads Ventures’ India healthcare portfolio includes Ashish Life Science, Bicara Therapeutics, Caplin Steriles, Carestack, Cipla Health, Core Diagnostics, Doceree, eKincare, Eywa Pharma, Elucidata, Enzene Biosciences, Enko, Everheal, Immuneel Therapeutics, Laurus Labs, Medwell Ventures, NOCD, Plasmagen Biosciences, Proximie, OZiva, PharmEasy, Richcore Lifesciences, Specsmakers, Spry, Toothsi, Trivitron Healthcare and Ujjala Cygnus. www.eightroads.com

Photo: https://mma.prnewswire.com/media/2223162/Harshit_Jain_MD.jpg
Logo: https://mma.prnewswire.com/media/1758952/4300121/Doceree_Logo.jpg

SOURCE Doceree Inc.