HONG KONG, Jan. 17, 2024 — On January 16, 2024, China’s prominent consumer investment institution, Harvest Capital, invested enterprise Xiao Caiyuan (officially known as XIAOCAIYUAN INTERNATIONAL HOLDING LTD), officially submitted its prospectus to the Hong Kong Stock Exchange, with plans to list on the main board.

Currently, Xiao Caiyuan operates 548 self-owned stores. In the first three quarters of 2023, Xiao Caiyuan’s revenue increased by 41.6% from the same period in 2022, rising from CNY 2.422 billion to CNY 3.429 billion. The net profit also saw a significant growth of 107.6%, increasing from CNY 207 million in the same period of 2022 to CNY 430 million. The net profit margin for the first three quarters of 2023 stands at 12.5%.

According to Frost & Sullivan’s statistics, based on store revenue in the first three quarters of 2023, “Xiao Caiyuan” ranks first among all brands in the Chinese mass-market Chinese-style catering market with an average customer price ranging from CNY 50 to CNY 100.

Harvest Capital is the sole external investment institution for Xiao Caiyuan, with a cumulative investment of CNY 500 million. The funds raised from Xiao Caiyuan’s IPO will be primarily used to continue expanding its store network, increasing geographical coverage, and improving market penetration; enhancing supply chain capabilities; upgrading intelligent devices and digital systems to enhance digital capabilities; as well as for operational funds and general corporate purposes.

In the past three years, which were impacted by the pandemic, Xiao Caiyuan’s directly owned store total increased from 278 in 2021 to the current 548, almost doubling the number of stores in three years. In the first nine months of 2023, Xiao Caiyuan achieved a revenue of CNY 34.29 billion (a YoY growth of 41.6%) and a profit of CNY 4.30 billion (a YoY growth of 107.6%). Same-store sales saw a YoY growth of 22.3%. The daily sales per square meter for stores reached CNY 81, with an increase of 18.5%, and the same-store daily sales per square meter reached CNY 79.3, with an increase of 18.3%. According to Sullivan’s report, these growth rates are leading in the industry.

In the future, Xiao Caiyuan aims to further establish itself as an international first-class chain catering group with a modern scientific management system, focusing on mass-market Chinese-style catering, and realizing the vision that “where there are Chinese people, there is Xiao Caiyuan.”

Song Xiangqian（Alan Song）, Founder and Chairman of Harvest Capital, pointed out, “The future is no longer the era of businessmen but will enter an era where entrepreneurial abilities are paramount. The ceiling of a brand is people’s hearts. By providing good products and services for consumers and the market in a down-to-earth manner, people will continue to pay for a long time. We highly recognize Chairman Wang Shugao and his team. We believe that under their leadership, Xiao Caiyuan will undoubtedly lead the modernization transformation of Chinese-style catering, continuously empower people’s lives, create more consumer benefits, and lead more Xiao Caiyuan employees towards shared prosperity.”

SOURCE Harvest Capital

Los Angeles-based VC firm nearly doubles AUM, will continue to back the best founders in business software

LOS ANGELES, Jan. 17, 2024 — Act One Ventures, the early stage venture capital firm that created the Diversity Rider, has finished raising its third fund. With $73 million in committed capital, Act One more than tripled the $23 million raised for its second fund and brought its total assets under management (AUM) to $148 million. The new fund comes at a pivotal moment for the venture capital industry, which is seeing significant contraction with firms shutting down or unable to raise new funds after several years of skyrocketing valuations and mega-funding rounds across all stages.

Act One is led by General Partners Alejandro Guerrero and Michael Silton. The pair began working together in 2013 at the UCLA Venture Fund, and both were software company founders prior to that. They have invested in a total of 47 companies since Act One’s inception in 2016, with “founder-market fit” as the core element to their investing philosophy.

“We are grateful to our LPs for believing in us and the work that we have been doing together over the last eight years at Act One,” said Guerrero. “Both Michael and I know what it’s like to build software companies during down markets, and we are looking forward to working with the founders who will become a part of our family over the coming years with this new fund.” 

Fund III will allow Act One to continue to back business software companies at the Seed stage, specifically those in vertical SaaS, fintech, compliance, and ecommerce infrastructure. The firm led four of the five deals made from the new fund so far, with initial checks ranging from $1 million to $2 million. Act One’s $148 million in AUM is spread across three funds and more than 10 special purpose vehicles (SPVs), but it plans to reserve significant capital in Fund III for follow-on financing of portfolio companies.

About Act One Ventures: Act One Ventures is an early stage venture capital firm leading Seed rounds in capital-efficient companies with excellent founder-market fit. The firm is led by General Partners Alejandro Guerrero and Michael Silton, and their experience as software company founders allows Act One to help portfolio founders build scalable businesses while connecting them with the firm’s network to bring in early customers. While Act One does not have a diversity mandate, over 70% of its portfolio companies are led by women and people of color — a testament to their diverse networks.

SOURCE Act One Ventures

BRATISLAVA, Slovakia, Jan. 17, 2024 — CloudTalk, the fastest-growing AI-powered calling solution, successfully raised a $28 million round, closing its Series B funding. The latest funding, co-led by KPN Ventures and Lead Ventures and supported by existing investors Point Nine Capital, henQ, Presto Ventures, and Orbit Capital, is a big step in CloudTalk’s journey to transform business communication.

The company was founded in 2016 to help businesses make customer experience the greatest competitive advantage for driving more revenues. “It’s been fun to see how our product solves challenges for over 4,000 teams across 100+ countries, powering more than 400 million customer conversations,”  said Martin Malych, CEO of CloudTalk.

Their vision is to create a unified ecosystem for customer-facing teams’ communication where every professional can engage in more meaningful conversations.

The new investment will strategically accelerate their growth and enhance their cloud phone system. “Users want their solution to be smart. For example, to summarize calls with artificial intelligence, automate note-taking, and monitor customer opinion via sentiment analysis. That’s why our focus is now intensely on AI,” said Martin Malych.

CloudTalk aims to build a platform that meets the evolving needs of the remote workforce and exceeds customer expectations with innovative AI-powered features. For example, AI-powered dialers, conversational intelligence, and speech recognition.

KPN Ventures, a major telecom operator in the Netherlands and lead investor in this round, fully supports CloudTalk’s mission. “We are impressed with their intuitive AI solutions that meet the dynamic needs of modern businesses. CloudTalk’s commitment to innovation perfectly aligns with our vision,” commented Sem Alberga, Investment Director at KPN Ventures.

More Investor Quotes

“We are impressed by CloudTalk’s position as an easy-to-deploy market-leading CCaaS solution powered by AI intelligence with a truly intuitive user interface. The company’s status as a market leader is proof of its excellence. We are looking forward to helping CloudTalk further expand its international presence and improve its already superior calling quality.”

– Sem Alberga, Investment Director @ KPN Ventures

“We’ve invested in Cloudtalk due to their strong team and remarkable traction. We are confident that their leadership and the whole team are on the right path to change the way contact centers work globally. We are excited to partner up with them and accompany them on their new journey.”

– Kristóf Székely, Partner @ Lead Ventures

SOURCE CloudTalk

AUSTIN, Texas, Jan. 17, 2024 — BankingON, the leading provider of award-winning digital banking solutions, today announced it raised its Series A funding round led by Eagle Venture Fund to launch Boucoup^™, a family finance mobile banking and interactive learning platform for credit unions.

With Boucoup, credit unions can offer more than simply youth checking/savings, they can empower parents to model and teach essential money skills to their children through convenient tools like instant allowances and chore-based rewards. With Boucoup, teenagers can safely experience financial products, so they are better prepared for adult life.

BankingON believes credit unions should never outsource their brand and members to fintechs, so they built a platform that uses the credit union’s existing core banking system and existing branded debit card. Boucoup offers an intuitive graduation feature that allows members to transition seamlessly into the credit union’s ‘adult’ checking/savings.

“Boucoup’s mission is to increase money skills and peace of mind for the next generation. By partnering with credit unions, we’re building a powerful force for financial literacy,” said Alexey Krasnoriadtsev, co-founder and CEO of BankingON. “We’re not just providing software tools; we’re fostering a community where parents and teens have the information and interactions they need in their financial learning journey. This partnership is a win-win, ensuring credit unions grow their member base while helping teens develop habits that will serve them well as they become adults.”

“As Millennials become parents and the new generations come of age, a significant market opportunity is being created. Parents are looking for tools to teach digital natives about money. We believe that BankingON is uniquely positioned to leverage their trusted track record of proven products to provide a comprehensive banking and educational solution for credit unions, enabling them to attract and retain this emerging demographic,” said Wade Myers, General Partner of Eagle Venture Fund.

About BankingON

BankingON is an Austin-based CUSO of B2B2C digital banking solutions committed to empowering Credit Unions to help parents raise money-smart children. Boucoup, its family finance platform, helps CUs offer a valuable, free, branded digital mobile app for parents and teens. With Boucoup, parents can teach teens essential money skills, including earning, spending, and saving, through a fun and interactive platform. Teen-optimized UI and features include  instant allowances, chore-based rewards, flexible spending controls, and real-time transaction notifications, all within one seamless mobile app. 

Contact
To learn more about Boucoup, visit us at https://www.boucoup.com/ or send us an email at:
Aaron Villarreal
[email protected]
[email protected] 

© 2024 Boucoup™ is a trademark of BankingON, Inc. All rights reserved.

SOURCE BankingON

The strategic investment will help the company tackle dehydration and heat stress in Japan and broader Asia with its portfolio of sweat-sensing biowearables

CAMBRIDGE, Mass., Jan. 17, 2024 — Epicore Biosystems (‘Epicore’), a digital health solutions company developing advanced sweat-sensing wearables to provide real-time personalized hydration insights for performance and safety, today announced that it has received investment from Pegasus Tech Ventures (‘Pegasus’), a global venture capital firm based in Silicon Valley, and Denka Company Limited (‘Denka’), a Japan-based multinational technology and materials company. The new investment is the first of a larger series and will be used to support the scale and distribution of Epicore’s wearable solutions within Japan and in the broader Asia market.

Asia continues to experience unprecedented heat waves, breaking all-time temperature records throughout the continent. Despite the introduction of wearable technologies and the dangerous rise in extreme heat waves, digital solutions that monitor and manage hydration have yet to reach broad-scale adoption in Asia. As a result, many enterprises and athletes alike have had to rely on qualitative tracking of weather conditions to determine the hydration needs of industrial workers. Using the new investment from Pegasus and Denka, Epicore will improve access to personalized hydration insights by scaling its Connected Hydration solution across Japan and Asia. Connected Hydration is a breakthrough biosensor and enterprise cloud that measures sweat loss, sodium loss, skin temperature and movement to provide actionable rehydration strategies in real-time.

“Exposure to heat has proven to be quite challenging to pin down, as every individual has different hydration needs that could vary depending on diet, sleep, stress and physical exertion,” said Dr. Roozbeh Ghaffari, CEO and co-founder of Epicore Biosystems. “Alongside Denka and Pegasus, we are bringing our scientifically validated biowearable products to Asia to tackle the dehydration and extreme heat crisis with a single, unified biosensor and enterprise cloud for the first time.”

This strategic investment comes on the heels of recent deployments by Epicore and Denka across several industrial sectors in Japan. Denka trialed the solution with multiple Japanese corporations, including chemical factories, construction, engineering services, oil and gas, warehouses and manufacturing plants, and found that extreme heat conditions across both indoor (factory work) and outdoor (construction and oil gas field work) caused significant sweat losses and a broad range of electrolyte losses. These sweat loss results indicate that heat exposure and dehydration risks are not limited to outdoor field workers. In fact, indoor workers experienced significant alerts/alarms and were at times working nearby radiating heat sources, thus representing even higher risk.

“Health risks and injuries associated with extreme heat are pervasive in Japan and across the broader Asia population,” said Nobuyuki Yoshino, managing executive officer at Denka. “Epicore’s wearable technology is positioned to improve our understanding of hydration and health needs for people at home and in industrial work settings. We are excited to collaborate with Epicore to help scale Connected Hydration and its portfolio of innovations and products.”

Epicore’s Connected Hydration consists of a flexible wearable patch, a mobile application and a cloud engine. Unlike most wearables in the market, Connected Hydration has an extended battery life that works over 1,000 hours and never requires charging. Epicore Biosystems offers a complimentary battery swap service, creating an eco-friendly and seamless user experience.

Connected Hydration’s advanced features include:

• Multiple biosensors for real-time sweat and electrolyte loss, skin temperature, and motion tracking
• Real-time dehydration alerts and alarms via vibration cues
• Real-time hydration feedback and fluid/electrolyte intake tracking via the mobile app
• Data dashboard for tracking daily and longitudinal changes across all biometrics
• Enterprise cloud engine with predictive analytics for dehydration events

The record-setting heat waves of 2023 have led to increasing global demand for hydration management solutions from enterprise sports and industrial companies, particularly in Asia, Australia and the Middle East regions. Over the past few years, Epicore has lined up several key partners in the United States and abroad, including notable companies such as Chevron, PepsiCo, Gatorade, 3M, the U.S. Army and more. The company will launch the patented Connected Hydration patch, mobile application and cloud engine for commercial use in early 2024.

To learn more about the company and its solutions, visit https://www.epicorebiosystems.com/. 

About Epicore Biosystems
Founded in 2017, Epicore Biosystems is a digital health company developing advanced sweat-sensing wearables that provide real-time personalized health insights for hydration, stress and wellness. Their clinically validated biowearable products and cloud analytics are deployed globally and licensed by leading Fortune 500 companies, the Department of Defense and the National Institute of Health. To learn more, visit https://www.epicorebiosystems.com/.

About Denka Company Limited
Denka is a chemical company that continues to contribute to the advancement of society by developing and providing unique technologies and products for more than 100 years since its establishment in 1915. In our management plan “Mission 2030” covering the 8-year period from 2023 to 2030, we identified three domains “ICT & Energy”, “Healthcare”, “Sustainable Living” as focus areas. Denka continues to contribute to people’s lives and the society through the chemistry we can be proud of to the world for the purpose of “Make the world a better place as specialists in chemistry.” To learn more, visit https://www.denka.co.jp/eng/.

About Pegasus Tech Ventures
Pegasus Tech Ventures is a global venture capital firm based in Silicon Valley, offering intellectual and financial capital to exceptional emerging technology companies around the world. In addition to a more traditional investment approach, Pegasus offers a unique Venture Capital-as-a-Service (VCaaS) model for large, global corporations that wish to partner with cutting-edge technology startups. To learn more, visit https://www.pegasustechventures.com.

SOURCE Epicore Biosystems, Inc.

Strategic Partnership Supports Growth in Print and Packaging Manufacturing

MOUNTAINSIDE, N.J., Jan. 17, 2024 — Digital Color Concepts (“DCC” or the “Company), a manufacturer of folding carton packaging and leading provider of premium commercial print services, today announced a majority equity recapitalization by Sherburne Partners (“Sherburne“). This investment by Sherburne, a private investment firm based in New York City, aims to accelerate the Company’s growth in packaging operations, enable DCC’s management team to optimize the business and strengthen DCC’s unwavering commitment to customer satisfaction. Based in New Jersey and New York, DCC will continue to be led by the existing management team, including industry veterans President Don Terwilliger and CEO Stephen Pandolfi, who will remain significant equity holders in the business. Genesis Park, a Houston-based private investment firm, provided debt financing to support the transaction.

“DCC has a demonstrated track record of exceptional quality, investing in new equipment and technology to meet the production needs and critical turnaround times that are integral to our client’s success. We are excited to see continued growth through our partnership with Sherburne,” says Terwilliger.

Sherburne, led by Co-Managing Partners Oliver Patten and Parker Shields, focuses on long-term oriented, strategic growth investments in industrial and business services industries. Patten said, “We are thrilled to invest in DCC. Their commitment to providing exceptional quality work and a premium experience for their clients aligns strongly with our strategy to build a fully integrated, growth-oriented print and packaging platform serving attractive end markets with a customer-centric approach.” Shields adds, “We are excited to invest for the future and partner with Don, Steve, and the management team to support the Company’s continued growth while maintaining DCC’s unwavering commitment to its customers and overall mission. We are looking forward to continuing to pursue complementary acquisitions as we build out the DCC platform.”

About Digital Color Concepts

Digital Color Concepts (“DCC”) is a fully integrated folding carton and specialty graphics company specializing in high-quality offset & digital printing, large format signage, warehousing, fulfillment, & pick and pack with drop shipping services. DCC partners with its clients to deliver what it commits to on every project. DCC supports the industry’s highest social and environmental standards while providing a premium experience for its clients.

For more information on DCC, please visit dccnjpackaging.com.

About Sherburne Partners

Sherburne Partners (“Sherburne“) is a private investment firm based in New York City that invests in and builds upon companies in fragmented industrial and business service industries. Sherburne invests primarily in founder and family-owned businesses with attractive growth prospects and customer-centric cultures. Sherburne makes majority-control investments and provides capital to create enduring market leaders.

For more information on Sherburne, please visit sherburnepartners.com.

About Genesis Park

Genesis Park is a Houston-based private credit and equity investment firm that supports growth and later stage lower middle market businesses through flexible debt and equity capital solutions and strategic guidance. Genesis Park generally targets companies with at least $10 million of revenue and $3 million of EBITDA, with proven business models and seasoned management teams. Genesis Park is committed to partnering with the companies and management teams in which it invests to facilitate growth, transition, and success.

For more information on Genesis Park, please visit genesis-park.com.

CONTACT: Michelle Mazur, Vice President of Operations, Rizco
michelle@rizco.com
(732)223-1944 ext. 103

SOURCE Digital Color Concepts

Pitch Deck Interest metrics post gains in investor engagement after six quarters of consistent decline 

SAN FRANCISCO, Jan. 17, 2024 — DocSend, a secure document sharing platform and Dropbox (NASDAQ: DBX) company, released a new data analysis of startup fundraising showing positive momentum for the first time in six quarters, based on investor engagement with pitch decks. The Pitch Deck Interest (PDI) metrics prompt hope for increased dealmaking in Q1, due to encouraging year-over-year (YoY) investor interest and founder activity.

2023: Investors take action in Q4 despite market uncertainty

Investor activity increased 1.7% quarter-over-quarter (QoQ), signaling encouraging progress into 2024. Investors reviewed more pitch decks as uncertainty and economic concern subsided and eagerness to invest in disruptive industries, like Artificial Intelligence (AI), grew. Conversely, founders were less active in sending out their pitch decks to investors in Q4, with activity dropping almost 6% QoQ.

The YoY analysis shows a different, busier picture of Q4 for both investors and founders, as activity levels rose above 2022 for the first time. Pitch deck interactions and founder links created increased 6.7% and 4.2%, respectively. Investor time spent reviewing decks continuously decreased over 2023, hitting an all-time low in Q4 of two minutes and 24 seconds. As investors’ attention spans become scarce, founders are forced to streamline and condense their pitch decks to compete for seconds of mindshare.

“As we enter 2024, we are seeing glimmers of hope for founders seeking funding,” said Justin Izzo, lead data and trends analyst at Dropbox DocSend. “The small increase in QoQ investor activity signals that investors may be more engaged during the post-holiday January rush, finally at ease after a series of jarring interest rate hikes and increased inflation. The shock of these macro trends is wearing off and there is hope that a more consistent and predictable early-stage fundraising market lies ahead.”

Year-to-date (YTD) data shows VC activity lagged in Q1 and Q2 of 2023, although the discrepancy includes efforts from 2021’s strong finish that carried over into early 2022. This is reflected in YTD metrics with investor pitch deck interactions dropping by 4.8% and investor time spent dropping by 3.8%, all while founder links created jumped 2%.

New year, new venture capital landscape

Deal activity was down in 2023 as 38% of VCs disappeared from dealmaking in the first three quarters, according to Pitchbook. But Q4’s 6.7% jump in investor engagement, per DocSend data, shows investors are increasingly interested in new opportunities to allocate capital, signaling a potential increase in dealmaking in early 2024.

“Investors hesitated to make deals in 2023 due to a series of macroeconomic factors, but our data provides a glimpse into future investment flows by looking at current deal interest,” said Izzo. “After the last 15-18 months of considerable stress on the market, venture capital seems to be approaching a period of increased confidence. Q4 has shown investor re-engagement, and VCs are potentially ready to make up for the deals they opted out of earlier in the year.”

Key Leading Indicators of Fundraising Activity

There are three core metrics unique to DocSend for tracking investors’ hunger for deals and founders’ quest for capital.

• Founder links created – the average number of pitch deck links each founder is creating via DocSend. This serves as a proxy for the supply of startups seeking funding. A “link” refers to the unique URL a founder creates using DocSend to share their pitch deck with investors. When the average number of links increases, it means that founders are sending their decks out to more investors.
• Investor deck interactions – the average number of investor interactions for each pitch deck link. This serves as a proxy for demand for investments. The higher the interaction metric, the more often decks are viewed, shared, and revisited by potential investors.
• Investor time spent – the average time spent per pitch deck by potential investors. This metric offers a look at how long VCs are spending reviewing deals. More time spent per deck could mean investors are more closely scrutinizing deals.

About DocSend
DocSend enables companies to share business-critical documents with ease and get real-time actionable feedback. With DocSend’s security and control, startup founders, investors, executives, and business development professionals can build business partnerships that have a lasting impact. Over 30,000 customers of all sizes use DocSend today. Learn more at docsend.com.

About Dropbox
Dropbox is one place to keep life organized and keep work moving. With more than 700 million registered users across 180 countries, we’re on a mission to design a more enlightened way of working. Dropbox is headquartered in San Francisco, CA. For more information on our mission and products, visit dropbox.com.

Media Contact:
Carol Boyko
104 West for DocSend
[email protected]

SOURCE DocSend

New funding fast-tracks manufacturing launch to bring electrification to a pastime enjoyed by millions of American families

SAN FRANCISCO, Jan. 17, 2024 — Lightship, America’s first all-electric RV company, today announced the completion of a $34 million Series B financing to accelerate production of the Lightship L1. The round was co-led by Obvious Ventures and Prelude Ventures and joined by Allegis Capital and global RV manufacturer THOR Industries and its investment partner TechNexus Venture Collaborative. Returning investors Congruent Ventures, HyperGuap, and Alumni Ventures also joined the fundraise.

The financing brings Lightship to a new chapter as it builds the manufacturing system and supply chain to produce the L1 beginning with pilot manufacturing at its new production facility in Broomfield, Colorado this year. The company anticipates the creation of numerous high-tech engineering and manufacturing jobs as it scales up production to meet high demand following its launch.

The Lightship team has been hard at work designing, prototyping and testing the Lightship L1 – a new class of aerodynamic, battery powered travel trailer propelled with an electric drivetrain that enables near zero range or mile-per-gallon efficiency loss for the vehicle towing it.

“The electrification transformation doesn’t stop at passenger cars. What Ben, Toby and the team are bringing to life will revolutionize the road trip forever,” said Andrew Beebe, Managing Director at Obvious Ventures. “We’re thrilled to co-lead this round with Prelude Ventures and partner with Lightship to bring the L1 to campgrounds around the country.”

Unlike traditional designs, the L1 is built from the ground up for efficiency with a telescoping vehicle design which minimizes the trailer’s frontal area to create the most aerodynamic trailer of its size. The all-electric RV features a massive battery energy storage system, electric propulsion and enough solar to power the vehicle for a week off-grid. The L1 debuted this spring to rave reviews and a growing waitlist.

“We take pride in what we’ve created at Lightship and have been humbled with the reception of the L1. Building an all-electric RV from the ground up and a brand-new U.S. based manufacturing company around that product has taken the hard work and dedication of an incredible team with outstanding support from our network of investors,” said Lightship Co-Founder and CEO Toby Kraus. “We have a bold vision for the future of recreational travel, and this is just the beginning of what’s to come from Lightship.”

More information about the Lightship L1 is available here: lightshiprv.com. 

About Lightship
Founded in 2020, Lightship is America’s first all-electric RV company on a mission to reimagine the recreational vehicle experience by designing and producing aerodynamic, battery-powered trailers for the electric age. As the macro transition to an all-electric transportation ecosystem accelerates, Lightship is building a critical element to enable the electrification of pickup trucks and SUVs, while bringing the increased convenience and superior performance that electrification offers to a pastime enjoyed by 1 in 10 American families. Based in San Francisco and Colorado, Lightship sells its products direct to U.S. consumers on the company’s website: lightshiprv.com.

SOURCE Lightship

Second funding round from Five Elms Capital in less than 12 months reinforces Prismatic’s continued momentum

SIOUX FALLS, S.D., Jan. 17, 2024 — Prismatic, a leading embedded integration platform, today announced $22 million in Series B funding to drive platform innovation. Five Elms Capital led this funding round, which is the growth equity firm’s second investment in Prismatic in less than a year.

“Modern B2B SaaS teams juggle a growing expectation to integrate with the other software their customers use. Fulfilling these requirements is costly, time-consuming and frustrating, but Prismatic’s embedded integration platform (embedded iPaaS) provides a seamless, scalable experience that enables teams to focus on innovation,” said Michael Zuercher, CEO and co-founder of Prismatic. “Amid SaaS industry challenges, Prismatic’s consistent, strong quarterly growth demonstrates the pivotal role integrations play in the future of SaaS.”

The $22 million in funding will primarily fuel the expansion of Prismatic’s research and development, fostering innovation and enhancements to the embedded iPaaS platform. Last year, Prismatic empowered B2B SaaS companies to provide the ultimate user experience for user-built integrations via its embedded integration designer. Future updates and launches enabled by this investment will drive even more versatility in the ways SaaS teams can build, manage, and embed integrations.

“Prismatic’s stellar growth since its Series A, achieved in less than a year, has solidified the indispensable role of embedded iPaaS in B2B SaaS companies,” said Austin Gideon, Principal at Five Elms Capital.  “We are seeing intense demand across our portfolio of B2B software companies for a platform to help augment integration capabilities. Scaling software companies are able to realize strong returns on investment by utilizing Prismatic’s platform, allowing teams to remain focused on delivering new products to customers. Partnering with this team again for the Series B gives us the opportunity to make meaningful advancements and improvements in the future of SaaS.”

Prismatic’s remarkable offering, achievements and quarter-over-quarter growth have also been recognized by software review site G2. The company was again named the #1 Momentum Leader with numerous badges in the Winter 2024 G2 report.

“Prismatic has been a game-changer for our team,” said Colton McCormack, Lead Software Engineer – Integrations at Sisu. “The platform’s intuitive low-code builder, marketplace and robust monitoring capabilities allow us to deliver complex integrations faster and more reliably than ever before. Whether quickly wiring up an integration using pre-built components or developing custom logic, Prismatic gives us the flexibility and customer support we need.”

For more information about Prismatic and its embedded integration platform, visit prismatic.io.

About Prismatic
Prismatic is the integration platform for B2B software companies. It’s the quickest way to build integrations to the other apps your customers use and to add a native integration marketplace to your product. A complete embedded iPaaS solution that empowers your whole organization, Prismatic encompasses an intuitive integration designer, embedded integration marketplace, integration deployment and support, and a purpose-built cloud infrastructure. Prismatic was built in a way developers love and provides the tools to make it perfectly fit the way you build software.

About Five Elms
Five Elms Capital is a leading growth investor in world-class software businesses that users love. Five Elms provides capital and resources to help companies accelerate growth and further cement their role as industry leaders. Five Elms maintains offices in North America and Europe and invests in the best software platforms globally. For more information, visit fiveelms.com.

Media Contact
Patrick Murphy
BLASTmedia for Prismatic
Prismatic@BLASTmedia.com

SOURCE Prismatic