SAN ANTONIO, Nov. 30, 2023 — Darkhive Inc. announced the closing of a $4M Seed round led by Crosslink Capital and joined by MVP Ventures, Capital Factory, and existing investor Stellar Ventures. This round of financing will enable Darkhive to accelerate production of both hardware and software product lines in support of high-profile Department of Defense initiatives. In the past year, Darkhive has been awarded contracts totaling nearly $14M, but collaboration with key strategic investors provides a critical component to the future success of the company.

“We have some hard timelines to hit in 2024 and beyond in order for our products to provide real value at scale to the communities we support,” said Darkhive CEO John Goodson, “We’re excited to be teamed up with Crosslink and our other partners that joined the round to hit those milestones and deliver for our customers.”

Matt Bigge, Partner at Crosslink Capital and Darkhive Board Member, commented “Darkhive represents the future of uncrewed systems. Their open hardware and software architecture enables the first truly scalable, interoperable and cost appropriate approach to US-made drones. Crosslink is excited to work with the Darkhive team to facilitate this strategic architectural approach at a critical time for US National Security.”

About Darkhive:

Founded in 2021, Darkhive has placed an emphasis on developing affordable, US-manufactured uncrewed systems with open hardware and software interfaces to provide life-saving situational awareness at home and abroad. Darkhive has previously been awarded a Phase III Small Business Innovation Research IDIQ with AFWERX Autonomy Prime, multiple Phase II SBIR/STTR awards with AFWERX and the Air Force Research Lab, as well as OTA contracts with the Office of the Undersecretary of Defense Research and Engineering Innovation and Modernization and the Defense Innovation Unit National Security Innovation Capital. 

About Crosslink Capital:

Crosslink is a leading early-stage venture capital firm based in the Bay Area with over $4B in AUM. Crosslink partners with founders that are market disrupters and category creators, typically at the Seed-Series A stage, across highly dynamic enterprise and consumer technology sectors. 

The firm aims to partner with exceptional founders and assist them in building successful companies by providing capital, expertise, and a strong network of connections. Over its history, Crosslink has had the opportunity to partner with defining companies such as Bleacher Report (acquired by TWX), BuildingConnected (acquired by ADSK), Chime, Coupa (COUP), Omniture (acquired by ADBE), Personal Capital (acquired by Empower Retirement), Postmates (acquired by UBER), ServiceMax (acquired by GE), Vungle (acquired by Blackstone), Verodin (acquired by FEYE) and Weave (IPONYSE: WEAV).

SOURCE Darkhive

New funding adds to Stensul’s momentum transforming how marketing assets are created

NEW YORK , Nov. 30, 2023 — Stensul today announced it raised $34.5 million in Series C funding to expand the capabilities of its Marketing Creation Platform. The funding round was led by Sageview Capital and includes existing investors U.S. Venture Partners (USVP), Javelin Venture Partners, Uncork Capital, and Lowercase Capital, along with participation from new investor Edith Harbaugh, LaunchDarkly’s Executive Chair and Co-founder. Stensul has raised over $57 million to date.

The company will use the new funding to increase investment in product development, including deepening AI capabilities launched earlier this year. In addition, Stensul will accelerate adoption within enterprise organizations, where the opportunity for transformation has proven to be the greatest. As part of the transaction, Jake Colognesi, Partner at Sageview Capital, will join the company’s board.

Stensul offers a no-code/low-code approach for teams to collaboratively create marketing assets in minutes, without weeks of back-and-forth as is the case with today’s most common methods. In addition to supporting creation workflows for proofing, review and approvals, the platform automatically enforces pre-set brand guardrails, enabling anyone to create high-quality, on-brand marketing campaign assets. By dramatically reducing the time it takes to produce an email or landing page, marketers have more time to spend on strategy to optimize the performance of their campaigns.

“The feedback we heard during diligence regarding Stensul’s Marketing Creation Platform was overwhelmingly positive across the board. Stensul is streamlining the way large marketing teams work across all industries – from an unnecessarily complex, time-consuming, and costly process to an easy, efficient, and ultimately more effective process. Sageview is thrilled to invest in Stensul and support the company through an exciting stage of growth,” said Jake Colognesi, Partner at Sageview Capital.

“This funding round speaks to the value we’re creating and the massive opportunity ahead of us,” said Noah Dinkin, Stensul’s Founder and CEO. “Our talented team has done an amazing job bringing Stensul to ‘must-have’ status for some of the most admired companies in the world. It’s only a matter of time until every company’s marketing team moves away from their slow and painful processes, and we can’t wait to be the catalyst to make that happen.”

Stensul Summit
“We’re seeing an increasing amount of interest from leaders looking to rethink how their marketing organizations work across people, process, and technology,” Dinkin said. “For the last year and a half, all over the country, we’ve had a lot of fun bringing people together in smaller group settings to share their transformation journeys. In 2024, we’re going to hold the inaugural Stensul Summit™, bringing all of these people together in one place. And in typical Stensul events fashion, it’s going to be a lot of fun.” Sign up for updates at https://stensul.com/summit.

About Sageview Capital
Sageview Capital is a private investment firm focused on partnering with industry-defining innovators to build enduring software and tech-enabled businesses. With over $1.5 billion in assets under management, Sageview Capital collaborates with entrepreneurs on a custom approach, leveraging its decades of experience, operational expertise, and network in scaling many successful companies. The firm invests for the long-term and has guided many of its portfolio companies to IPO or acquisition—and beyond. Sageview Capital’s investments include 360insights, Aceable, Anitian, Atmosphere, CallRail, Carewell, Demandbase, DISQO, Drivewyze, Elastic Path, Elemental Machines, Ezoic, Grocery TV, MetricStream, Pantheon, Pax8, NAM, Specright, Theatro, User Interviews, and XSELL Technologies, among others. For more information, visit https://www.sageviewcapital.com.

About Stensul
Stensul dramatically reduces marketing creation time – by up to 90% – so teams can better focus on improving marketing performance. Stensul makes this possible by streamlining the collaboration process and simplifying marketing asset creation for all marketers so they can create high-performing campaigns that drive stronger results. Stensul integrates with all leading ESPs/MAPs, workflow platforms, image digital asset management platforms, live content, link tracking, and messaging platforms. Top brands that trust Stensul to solve their most demanding marketing creation problems include BlackRock, BMW, Cisco, Demandbase, Equifax, Greenhouse, Siemens, Thomson Reuters, and Yahoo. For more information, visit https://stensul.com.

SOURCE Stensul

Led by Khosla Ventures to empower business users with an automation platform centered on human language

SAN JOSE, Calif., Nov. 30, 2023 — Kognitos, the trailblazer in generative AI for business automation, today announced the close of a $20M Series A round led by Khosla Ventures, with participation from existing investors Clear Ventures, Engineering Capital, and Wipro Ventures. The fresh funding brings the company’s venture capital raised to date to $30M adding to the seed round closed earlier this year. Founded in 2020, the company aims to build a future where all business applications will be written in English, where machines understand human language natively and where interacting with a computer is as easy as communicating with a human.

AI is accelerating the way business is conducted across all industries. Many of the traditional shortcomings of automation tools including learning curve, cost and time to value are being addressed using the power of generative AI. Kognitos’ approach to automation using a deterministic English interpreter removes the risk of hallucination and biases while providing all the power of generative AI to business users. Now organizations are able to accelerate automation without the need for traditional automation skill sets. Many companies across various manufacturing, logistics, CPG and retail industries are using the product including PepsiCo, Wipro, Century Supply Chain Solutions and Norco Industries. By empowering business users in a language they already know, Kognitos reduces burden on both business users and IT dramatically reducing costs while accelerating business.

“For the last few decades we have been forcing humans to learn the language of the machine through various no-code, low code and RPA platforms. The time has come for the machine to natively understand plain English,” said Binny Gill, Founder and CEO of Kognitos. “No developer should be needed to translate business requirements into automation because now the business requirements become the automation.”

Most businesses today have many document-heavy or coordination-heavy processes that are manual because automating them has been a daunting task with traditional tools. For example, a person in finance who processes a large variety of invoices, purchase orders and contracts on a daily basis finds it hard to explain all the details of what they do to an RPA developer, especially all the edge-cases. Even after automating such processes, the ballooning maintenance costs have resulted in the failure of many projects.

Kognitos uses natural language processing automation (NLPA) to enable business users to automate processes in plain human language. English is now “code.” Kognitos provides a highly scalable bot-less and management-free SaaS platform that can run business processes targeting ERP, CRM and common business applications at scale. There is seamless human-in-the-loop with patented conversational exception handling, removing the burden of business exceptions from IT. The platform dynamically learns from the business users when they handle exceptions, further increasing value to business without the expensive software development life-cycle as experienced in traditional automation tools.

The new funds will be used to enhance the platform’s ability to understand and execute complex business processes, and expand partnerships and integrations with other business applications to improve the platform’s interoperability. These efforts are aimed at establishing Kognitos as a leader in generative AI for business automation and increasing the adoption of the platform.

“Every enterprise needs to embrace AI, and automation in human language will be key to widespread business usage,” said Vinod Khosla, founder of Khosla Ventures. “In Kognitos, we are backing a founder we have worked with before who is taking on a bold vision of empowering a billion people to program in natural language where every single business application can be written in English.”

In addition to the new capital, Kognitos also announced the immediate availability of Exception Center, a next generation exception handling interface with the platform aimed at business users. Kognitos also unveiled multi-modal automation functions including voice transcription, image comparison, image manipulation, QR code support, data visualization and PDF form filling among others.

“Working with Kognitos has helped us to automate extremely complex use cases that existing automation solutions on the market have been unable to handle. With the Kognitos AI solution, our team is empowered to automate and even handle unforeseen edge cases without increasing the demand on IT,” said Jim McCullen, CIO at Century Supply Chain Solutions. “We have realized significant productivity gains and further enhanced our VIZIV Supply Chain Optimization Platform by using Kognitos to develop a market leading AI-powered capability within our business. We look forward to expanding our partnership with Kognitos as we become the AI leader in the Global logistics space.”

For additional information, please visit www.kognitos.com.

About Kognitos
Kognitos is the leader in natural language process automation. Founded in 2020, the company aims to build a future where all business applications will be written in English; where machines understand human language natively; and where interacting with a computer is as easy as communicating with a human. Kognitos is bringing seamless automation to billions of business users worldwide. For more information, visit https://www.kognitos.com.

The Kognitos SaaS platform is HIPAA and SOC 2 Type II certified for best-in-class security controls and complies with the AICPA’s Trust Services Criteria.

Media Contact: [email protected]

SOURCE Kognitos

 AI-powered forensic accounting solution secures $8.5 million Series A fundraise led by Silverton Partners

BOULDER, Colo., Nov. 30, 2023 — Valid8 Financial, the leader in Verified Financial Intelligence, today announced $8.5 million in Series A funding led by Silverton Partners with participation from Touchdown Ventures, First Trust, CPA.com and Capital Midwest. Valid8 provides AI-powered forensic accounting solutions to accounting and law firms, enabling them to untangle a web of complex financial transactions in hours instead of weeks.

The investment comes at a critical time, as prosecutions and reported losses from fraud are on the rise, according to the Department of Justice and the Federal Trade Commission.

“Prosecutions and civil litigation stemming from fraud and other financial malfeasance are among the most complex cases in our justice system,” said Chris McCall, CEO and co-founder of Valid8 Financial. “Forensic accountants and attorneys require certainty in their investigations, which is why it may take months or even years to uncover the truth behind thousands or millions of financial transactions. Valid8’s unique approach to delivering Verified Financial Intelligence leverages AI to expedite the process while meeting the highest data quality standards for courtroom-ready evidence that expert witnesses can rely on.”

Valid8’s technology provides verified evidence for a wide variety of complex financial matters and white-collar crime investigations, including Medicaid fraud, partnership disputes, asset division, high-net-worth divorces, M&A diligence, audit and Chapter 11 bankruptcies.

The company uses the latest in AI and automation technology to rapidly parse, reconcile, and categorize financial data from numerous sources, including bank transactions, Bitcoin deposits and withdrawals, and even hand-written checks. Valid8’s AI does not make any judgment about fraudulent activity. Instead, it provides visualizations that demonstrate the flow of funds and clarifies which transactions require further evaluation by a professional investigator.

“Using Valid8’s software has fundamentally changed how our team works,” said Jason Wright, Managing Director at Stout, a global investment bank and advisory firm. “Before, it took us significant time to evaluate even a small sample size. With this software, we gain a comprehensive understanding of the entire financial picture in less time. Our team is freed from the tedious review of each and every statement and transaction – time-consuming work that nearly every accountant wishes to avoid.”

Historically, accounting has depended on sample risk assessments and rote reviews of transactions to uncover potential fraud. Valid8’s research shows that investigators spend up to 90% of their time on such tasks before analysis can even begin.

“Valid8’s technology is designed to eliminate sample risk from accounting,” said McCall. “It’s eye-opening to have the complete picture and not be forced to base one’s opinion on a finite portion of a financial history.”

Roger Chen, partner with Silverton Partners, will join the board to support Valid8’s continued growth and development.

“Accounting is ripe for innovation,” said Chen. “As digital banking, cryptocurrency exchanges and other financial innovations become more commonplace, accounting needs its own breakthroughs to stay ahead. Valid8’s technology and core commitment to eliminating sample risk represent the future of accounting. Beyond forensic accounting, this technology already has compelling use cases for audit, transaction advisory, M&A due diligence and beyond.”

The new funding allows Valid8 to further invest in its engineering and go-to-market teams, primarily at its Boulder, Colorado headquarters. To learn more about Valid8 Financial and its solutions, please visit valid8financial.com.

About Valid8 Financial
Valid8 Financial is the global leader in Verified Financial Intelligence (VFI). The company’s platform extracts accounting evidence from documents and systems to eliminate sample risk, address staffing challenges, and improve the speed and quality of rendering a professional opinion. Hundreds of firms use Valid8’s software on some of the world’s most complex, high-profile cases. The company holds numerous patents and was recognized in 2023 as a Top Financial Restructuring Services Provider from Financial Services Review and in 2022 as a Technology Innovation Award Winner from CPA Practice Advisors and as a Top 100 Early Stage Company by Will Reed. The company has headquarters in Boulder and Seattle. For more information, visit: www.valid8financial.com.

Media Contact
Sam Perry
BLASTmedia for Valid8 Financial
317.806.1900 x152
valid8@blastmedia.com

SOURCE Valid8 Financial

LUCKY F*CK ENERGY DRINK RAISES $4M SEED ROUND TO FUEL GROWTH AND EXPAND DISTRIBUTION

AUSTIN, Texas, Nov. 30, 2023 — LUCKY F*CK, the better-for-you energy drink company that makes products to motivate people to defy the odds and keep going, announced today the close of a $4M seed funding round led by Imaginary Ventures. The investment will be used to accelerate its growth across Texas and California, increase production, and expand its best-in-class team. This marks the first energy drink investment for Imaginary, which has invested in other category-leading consumer brands such as Skims, Daily Harvest, and Glossier. In addition, the company announced the expansion of its board and deal with Heimark Distributing, a respected partner of Anheuser-Busch and other beverage brands.

Founded by beverage entrepreneur Richard Laver (Founder of Kate Farms) in August 2023, LUCKY F*CK is available in five natural flavors with subtle notes of fruits and citrus and features 5 super ingredients like maca, beta-alanine, and ginseng. The brand has five calories, zero sugar, and zero aftertaste and is designed to be approachable for people over 18, including individuals who have never tried an energy drink due to fear of taste and ingredients you can’t pronounce.

Heimark Distributing, part of the “Anheuser-Busch Distributor” network and the exclusive distributor for Anheuser-Busch Beers in the Coachella Valley, CA, will exclusively distribute LUCKY F*CK throughout the region. Its CEO, Peter Heimark, will join the brand’s advisory board. 

“We have created an energy drink and entertainment company that has sparked a movement, and to have the support of the CPG industry’s leading investment firm, veteran CPG executives, and a best-in-class distributor is an honor,” stated Richard Laver, LUCKY F*CK’s Founder and CEO. “Having this network this early on validates that this isn’t your typical beverage company. It’s a vote of confidence that we will transform the category.”

Logan Langberg, Partner at IMAGINARY, added, “The energy drink category continues to explode as new, younger consumers seek cleaner ingredients and more inspiring branding. Out of all the emerging and legacy players, it was clear that Richard’s vision and the brand embody the most satisfying taste, a cleaner, functional ingredient label, and a counter-culture ethos that resonates with the younger generation. Richard is a proven leader and formulating specialist and has captured the best of brands like Monster and Redbull, as well as Celsius’s taste and clean profile while creating something unique that will rock the market.”

Langberg will join the Board of Directors and sit alongside Richard and Michelle Laver. Andrew Maxman, Venture & Growth Equity Investor at IMAGINARY, will become a Board Observer. 

To learn more about LUCKY F*CK, visit www.luckybevco.com and follow on social media @luckyfckenergy.

About LUCKY F*CK
LUCKY F*CK is a new, better-for-you energy drink company founded by serial beverage entrepreneur Richard Laver. The brand creates high-quality products to motivate people to defy the odds, seize their daily fortune, and make their own luck. The product line features five flavors—with 5 super ingredients, including Maca and Beta-Alanine, zero sugar, zero aftertaste, and only five calories. Products are available on Amazon and select retailers nationwide. For more information, visit www.luckybevco and follow @luckyfckenergy.

About IMAGINARY 
Imaginary Ventures, launched in 2018 by Natalie Massenet and Nick Brown, invests in tech-enabled brands and platforms that are changing the way we live by providing best-in-class products and experiences. IMAGINARY is a dynamic ecosystem of brands and software businesses, forging meaningful partnerships and fostering symbiotic relationships across its portfolio. The firm goes beyond capital to provide strategic and operational support to drive profitable businesses with the power to endure. IMAGINARY is headquartered in New York and currently has over $1 Billion under management.

CONTACT: Valeria Carrasco, valeria@hallettsconsulting.com

SOURCE Lucky Beverage Company

Investment Round Led by Eclipse, Explorer 1, and RTX Ventures

DENVER, Nov. 30, 2023 — Ursa Major, America’s leading privately funded company focused solely on rocket propulsion, today announced that it closed $138 million in its Series D and D-1 funding rounds. The investments were led by Explorer 1 Fund and Eclipse, and include RTX Ventures, funds and accounts managed by BlackRock, Exor Ventures, Mack & Co., LLC, XN, and other institutional shareholders. 

With this investment, Ursa Major will continue to develop Lynx, the company’s innovative new solid rocket motor (SRM) program, while scaling production capacity and advancing multiple propulsion programs. While the initial Series D round was completed earlier in the year, Ursa Major extended fundraising to include a Series D-1 round due to strong interest in accelerating development on several future programs.

“In the year since our last funding round, Ursa Major has secured significant commercial and government customers, delivered dozens of flight-ready engines, introduced new engine concepts, and worked to address critical gaps in our nation’s defense. This includes developing Lynx, a line of solid rocket motors that can deliver urgently needed capabilities,” said Ursa Major CEO and founder Joe Laurienti. “This investment will support scaling our production capacity to meet strong market demand, as well as continued technology innovation for our medium- and heavy-weight propulsion systems.”

Since its last round of funding, Ursa Major has responded to deficiencies in the nation’s defense capabilities by introducing Draper, a revolutionary new storable liquid engine designed to defend against hypersonic weapons, and Lynx, a new solution for designing and manufacturing solid rocket motors for tactical applications.

Ursa Major has also redesigned and hot-fired the 50,000-pound-thrust Ripley engine, scaled production of the 5,000-pound-thrust Hadley engine to a rate of one per week, and qualified Hadley as the world’s first and only rocket engine for space launch, in-space, and hypersonic missions.

“Ursa Major propulsion systems fill a critical gap in the defense industrial base today,” said Greg Reichow, Partner at Eclipse and former Vice President of Production at Tesla. “For the U.S. and its allies, the ability to deter threats will depend on our ability to produce innovative solutions utilizing modern manufacturing methods that are not dependent on fragmented supply chains. Ursa Major’s team possesses the technical prowess to deliver the high production rates, low cost, and advanced technology needed to help maintain national security.”
Ursa Major’s propulsion-only approach disrupts the existing vertically integrated launch industry by providing vehicle-agnostic engines for a variety of launch and hypersonic applications. This approach stands as a safeguard against the kind of consolidation and stagnation in launch technology that kept America dependent on Russian-made rocket engines in the past.

Reliable rocket propulsion is critical to maintaining the space supply chain and growing the space industry. Ursa Major’s flexible rocket engines can be used for various Department of Defense (DOD) and non-DOD missions, from air launch to hypersonic flight and on-orbit missions. The company’s customers get to launch faster and without the development cost of building engines in-house. 

Additionally, Ursa Major has applied their lessons learned in liquid rocket engines for space launch to re-imagine solid rocket motor design and manufacturing. With their process, Ursa Major offers a revolutionary solution to America’s SRM shortage with a faster, more affordable process, leveraging 3D printing to manufacture multiple motors that outperform legacy systems.

Connect with Ursa Major on LinkedIn, Twitter, Instagram, and Facebook.

About Ursa Major

Ursa Major is the leading independent rocket propulsion provider and a critical player in building the defense industrial base in the United States. As the first American company to fire an oxygen-rich staged combustion engine—a milestone previously only achieved by Russian engine-makers—Ursa Major provides reusable, high-performing propulsion systems to commercial space enterprises, defense contractors, and the Department of Defense for launch, hypersonics, and national security missions. The company employs the country’s leading propulsion experts at its one-of-a-kind headquarters in Berthoud, Colorado, which houses engineering, manufacturing, and testing all in one campus. Manufactured using 3D printing for scalable production, Ursa Major propulsion systems save customers an average of five years and $50 million compared to building propulsion in-house. 

Media Contacts

Ursa Major
[email protected]

SOURCE Ursa Major Technologies

• WELL Ventures is pleased to report that its portfolio companies continue to raise funds at attractive valuations with high quality capital allocators globally.
• Sun Life has invested $9.5 million in Pillway, a move that reinforces the value of Pillway’s digital pharmacy platform within Sun Life’s benefits management program.
• WELL Ventures has completed a new investment in ORX AI, a company that is leveraging advanced AI to optimize operating room efficiencies and streamline healthcare revenue management.
• WELL Ventures, investee doctorly GmbH, the only VC-backed startup in Germany authorized to sell practice management software, has attracted a new round of funding of €6.7M in Series A Extension. The Round was led by Dusseldorf based Simon Capital and included participation from Geschwister Oetker Beteiligungen KG, UNIQA Ventures and WELL’s investee HEALWELL AI (TSX: AIDX).

VANCOUVER, BC and TORONTO, Nov. 30, 2023 – WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) (“WELL” or the “Company“), a digital health company focused on positively impacting health outcomes by leveraging technology to empower healthcare providers and their patients globally, is pleased to announce series of strategic investment developments that highlight its leadership in fostering innovation within the digital health technology sphere.

Hamed Shahbazi, Founder and CEO of WELL, stated, “We are very pleased to announce our new investment in ORX AI and see our WELL Venture portfolio companies Pillway and doctorly continue to raise capital with exceptional partners in this difficult funding environment. We believe this is a testament to the quality of companies and operators that are at the heart of WELL’s investment program and our rigorous approach in due diligence and post transaction execution.

Amir Javidan, COO of WELL, added, “We also continue to be committed to intentionally aligning ourselves with the success of our investees by establishing thoughtful commercial partnering agreements in addition to our allocation of capital. This approach is working and elevating the value of our investments while delivering real operational value to both WELL and our investee partners.”

Sun Life Investment Elevates Pillway’s Market Position

Earlier this week, Sun Life announced a strategic investment of $9.5 million in Simpill Health Inc. (“Pillway“). This investment follows Sun Life’s launch of the Lumino Health™ Pharmacy app provided by Pillway in June 2023 to Sun Life Group Benefits Clients in Canada. The app currently offers the following features: access to live pharmacist support through chat or phone, prompt medication delivery within Canada, personalized medication pre-packaging, as well as convenient adherence tracking, refill & renewal management, and notifications via the app.

Pillway’s digital pharmacy platform is now a key component of Sun Life’s benefits management program. The platform’s seamless integration into Sun Life’s offerings demonstrate the tangible impact of Pillway’s technology on improving the management and delivery of health benefits. Through this partnership, Pillway’s digital platform is expected to enhance the user experience for Sun Life’s clientele, reflecting WELL’s continued investment in solutions that contribute to better patient care and efficient provider service.

WELL Ventures Announces Investment in ORX AI to Amplify AI Program

WELL Ventures is pleased to announce its investment in ORX AI, a leader in AI healthcare technology, under its AI Investment Program. ORX AI’s platform, Patient Compass transforms patient care by offering a user-friendly virtual agent that works alongside Electronic Medical Records (EMR) to allow patients to find care, get care, and advance care with greater ease.

Patient Compass is designed to empower patients in their healthcare journey, allowing them to manage and share their health data between WELL’s trusted AI products and providers. Patient Compass unlocks crucial healthcare data for many use cases like identifying rare diseases and updating care plans with the latest medical insights.

WELL Ventures’ investment in ORX AI is driven by WELL’s commitment to empowering healthcare providers, and grew from the successful Digital Technology Supercluster project, Health Compass, announced on January 13, 2023. This collaboration highlighted each organization’s shared commitment to advancing healthcare technology. ORX AI stands out in the healthcare technology landscape for its ability to harness healthcare data for AI enablement to support providers in world-class care and is a strategic move to support WELL’s ongoing deployment of WELL AI Decision Support through its exclusive partnership with HEALWELL AI.

doctorly Secures Additional VC Funding From Consortium Including HEALWELL AI

WELL Ventures investee doctorly GmbH (“doctorly“), has attracted a new round of funding of €6.7M in Series A Extension. The Round was led by Dusseldorf based Simon Capital and included participation from Geschwister Oetker Beteiligungen KG, UNIQA Ventures and WELL’s affiliate HEALWELL AI. This is a follow-on from the initial investment announced in March 2023. The investment underscores WELL’s strategic focus on international growth and innovation in healthcare technology. As the only venture capital-backed startup in Germany authorized to sell practice management software, doctorly is uniquely positioned to transform the medical software landscape, already proving to reduce administrative time for healthcare providers.

This investment is poised to unlock the potential of patient EMR data through a strategic partnership between WELL, HEALWELL AI, and doctorly, aiming to tech-enable healthcare practitioners to improve patient care. The funds will boost doctorly’s expansion in Germany, focusing on feature development that helps minimize administrative costs, thereby allowing healthcare professionals to dedicate more time to patient-focused services.

WELL continues to strategically allocate capital and form commercial partnering agreements with emerging tech firms, focusing on fostering a health innovation ecosystem in Canada and beyond. Through a disciplined investment process, WELL selectively backs opportunities that align strategically and financially. This approach effectively nurtures healthcare innovations from their development phase through to their market launch, showcasing WELL’s commitment to meaningful partnerships with tech firms. By providing guidance and resources, WELL not only accelerates these ventures but also reinforces its role in cultivating a sustainable health innovation ecosystem, further establishing itself as a leader in healthcare technology.

For additional information about WELL Ventures, its portfolio companies, and its AI investment program please visit https://well.ventures/.

WELL HEALTH TECHNOLOGIES CORP.

Per: “Hamed Shahbazi”

Hamed Shahbazi

Chief Executive Officer, Chairman and Director

About WELL Health Technologies Corp.

WELL’s mission is to tech-enable healthcare providers. We do this by developing the best technologies, services, and support available, which ensures healthcare providers are empowered to positively impact patient outcomes. WELL’s comprehensive healthcare and digital platform includes extensive front and back-office management software applications that help physicians run and secure their practices. WELL’s solutions enable more than 33,000 healthcare providers between the US and Canada, and power the largest owned and operated healthcare ecosystem in Canada with more than 150 clinics supporting primary care, specialized care, and diagnostic services. In the United States WELL’s solutions are focused on specialized markets such as the gastrointestinal market, women’s health, primary care, mental health, revenue cycle management, and practitioner recruiting. WELL is publicly traded on the Toronto Stock Exchange under the symbol “WELL” and on the OTC Exchange under the symbol “WHTCF”. To learn more about the Company, please visit: www.well.company.

SOURCE WELL Health Technologies Corp.

TAIPEI, Nov. 30, 2023 — Term Structure, a non-custodial fixed-income protocol that provides peer-to-peer, fixed-rate, and fixed-term borrowing and lending in decentralized finance (DeFi), has secured an initial funding of USD 4.25 million in a series seed fundraising round.

Cumberland DRW led this round, with participation from Decima Fund, HashKey Capital, Longling Capital, and MZ Web3 Fund. The seed fundraising increases Term Structure’s total funding to over $8 million to date. In speaking about why it led the funding round, Cumberland DRW said, “Fixed income products are a foundational element of traditional financial market structure, and demand for these products in DeFi markets is an important signal of the increasing maturity in this market sector. Term Structure, which is led by industry veterans, is an exciting investment for us and reflects our commitment to investing in innovative solutions that solve real market needs.”

In TradFi, fixed-income products enable institutions and individuals to predict future cash flows and evaluate the relative value of different investment opportunities. However, such products are currently absent in DeFi. With the Term Structure Protocol, users can use fixed-income products to earn periodic interest to ensure a reliable income stream or secure fixed rates to control funding costs. Moreover, once fundamental fixed-income products are established, they accelerate the full development of sophisticated financial products, including forwards, futures, and options. These tools can be used for hedging, valuation, and pricing financial instruments.

The Term Structure Protocol testnet is live at https://app.testnet.ts.finance/ on Ethereum Goerli. This protocol currently has two core markets on its platform. In the primary markets, users can place orders to borrow or lend tokens with fixed interest rates and fixed maturity dates. Once orders are matched, borrowers will receive borrowed tokens and must repay their debts before the maturity date to reclaim their collaterals. Lenders will receive fixed-income tokens, redeemable for principal plus interest upon maturity. In the secondary markets, users can buy and sell fixed-income tokens through the orderbook trading system.

To secure users’ assets, the zkTrue-up scaling solution, a customized ZK Rollup, is in place to achieve data availability and enable users to place and cancel orders without gas fees. Users can also initiate Forced Withdrawal on the zkTrue-up contract to directly withdraw funds in case of censorship or any issues. If the withdrawal request is not fulfilled, users can activate the Evacuation Mode and perform the evacuation on the L1 contract to protect their assets.

A workshop will go live on December 4th, 2023 on YouTube to introduce the protocol, and the AMA will be held on December 5th, 2023.  Furthermore, a trading competition will be organized after the testnet launch. Prizes, including 10,000 USDC, will be awarded to winners. Programmatic trading APIs and SDKs will also soon become available for professional traders. Please visit Term Structure’s official website, https://ts.finance/, to stay updated.

Media Contact: Weiting Chen, weiting.chen@tkspring.com

SOURCE Term Structure Labs

SYDNEY, Nov. 29, 2023 — Rich Data Co (RDC) – a leading AI decisioning platform that helps banks make high-quality lending decisions efficiently and safely – has successfully raised US$17.5m in its Series B round.

The funding round was led by major Australian bank Westpac (ASX: WBC) and global leader in cloud banking nCino (NASDAQ: NCNO), and supported by a reinvestment from Australian funds management firm BMYG and new Singapore-based investor Octava Fund. The funds raised will be used to help accelerate RDC’s expansion into North America and grow its industry-leading position as an AI decisioning platform in the global banking sector.

Founded in Australia in 2016, RDC uses explainable AI to provide banks with deeper insight into borrower behaviour, enabling more accurate and efficient lending decisions to businesses. To date, RDC has helped major banks in Australia and New Zealand, notably Westpac’s Australian business lending operations, to leverage AI in accelerating lending coverage of its existing customers.  

Over the past 18 months, RDC has been expanding into North America, and in late 2022, established a global resale agreement with nCino, which enables nCino’s business and commercial lending customers to enhance the lending process with AI decisioning and greater intelligence.

Ada Guan, CEO and co-founder of RDC, says: “With this investment we are strengthening our relationship with Westpac and deepening our partnership with nCino. Securing such a significant amount of investment within challenging fundraising conditions, speaks to the opportunity that Rich Data Co’s AI Decisioning Platform offers the industry, which is pleasingly being recognised by our investors. Now that the B round has closed, we can get on with doing what we love to do and that is disrupt current lending approaches and grow our industry leadership in the exciting AI Decisioning space. I am incredibly proud of our people and our growing team of industry and AI experts.” 

Shane Howell, Managing Director Business Lending, Westpac, says: “At Westpac, our ambition is to enable Australian businesses to achieve their goals.  We strive to support our customers with the right solutions and a seamless banking experience so they can focus on their business. Since January we have benefited from partnering with global innovator RDC, to enable faster decisions for customers by using RDC’s decisioning tool and advanced analytic techniques, meaning cash is in our customers hands quicker, particularly important in these economic times.”

Anthony Potts, Head of Strategic Investments, Westpac says: “Westpac’s investment in RDC reflects our strategy to pursue meaningful capability partnerships, investments and acquisitions. With the rapid evolution of AI, our strategic investment not only enhances our business lending offer but also allows us to stay close to global developments as RDC scales internationally.”

Davis Brannan, EVP of Ecosystem and Strategic Growth at nCino, says: “nCino is proud of its heritage in helping financial institutions transform and outperform. Partnerships are an important part of our business strategy as they help us innovate and deliver value to customers even more quickly. We see the technology from RDC supporting elements of our nIQ and intelligence capabilities, and we’re excited to strengthen our collaboration with this investment.”

About Rich Data Co
Rich Data Co (RDC) was founded in 2016 in Sydney Australia. RDC is driven to increase global access to inclusive, fair and sustainable credit. The RDC AI Decisioning platform provides lenders with deeper insight into borrower behaviour, enabling faster and more accurate decisions that empower confident lending to Business and SME lending segments. This next-generation platform enables lenders to more accurately access credit risk and predict future business performance to enable access to sustainable credit. www.richdataco.com

SOURCE Rich Data co