The funding will support the company’s continued growth and investment in its workforce, infrastructure, and research and development

WAKARUSA, Ind., Jan. 3, 2024 — Flock Security Consulting, a leading boutique cybersecurity company specializing in penetration testing and ancillary services, today announced the successful completion of its first private funding round, along with two strategic sales executive hires. These milestones mark a pivotal moment in the company’s growth trajectory, enabling the firm to reach more customers with its top-tier cybersecurity solutions.

iFlock Security Consulting has established itself as a trusted name in the cybersecurity industry. The company is known for its expertise in penetration testing and a comprehensive suite of services designed to fortify clients’ cybersecurity defenses. With a commitment to excellence, cutting-edge technology, and a customer-centric approach, the company has rapidly gained recognition as a preferred partner for organizations seeking robust cybersecurity solutions.

Global cybercrime is on the rise, with damage from cyberattacks growing 15 percent per year over the next three years, reaching $10.5 trillion by 2025. The newly secured private funding represents a significant vote of confidence in iFlock Security Consulting’s vision and capabilities in the face of ever-increasing cyber threats.

“Successfully securing our first round of private funding signifies the faith investors have in our capabilities and potential,” said Derek Odiorne, President of iFlock Security Consulting. “This funding enables us to elevate our services further and expand our market reach.”

In line with a commitment to enhancing its sales program, iFlock Security Consulting is adding two seasoned sales executives to its team. Barbara Butler and Stephany Azar, both formerly of NCC Group, a global cybersecurity company, are joining iFlock Security Consulting to drive forward its business development initiatives.

Butler and Azar bring a wealth of experience and proven track records in cybersecurity sales and client relationship management. Their expertise is expected to significantly bolster iFlock’s ability to enhance existing partnerships and forge new ones, ensuring a wider reach and deeper engagement with clients in the ever-evolving cybersecurity landscape.

“The addition of Barbara and Stephany to our team marks a significant step in our journey toward becoming a leader in the cybersecurity space,” said Odiorne. “We’re confident that their contributions will be pivotal in helping iFlock Security Consulting to not only meet but exceed our clients’ expectations, fostering long-lasting relationships and opening new avenues for growth and collaboration.”

About iFlock Security Consulting

iFlock Security Consulting is a boutique cybersecurity company specializing in penetration testing and ancillary services that bolster clients’ cybersecurity defenses. With a strong commitment to excellence, cutting-edge technology, and a customer-centric approach, iFlock Security Consulting has established itself as a trusted partner for organizations seeking top-tier cybersecurity solutions.

Media Contact:

Derek Odiorne

President

iFlock Security Consulting

[email protected]

1-833-4-HAXORS

SOURCE iFlock Security Consulting

COLUMBIA, Md., Jan. 3, 2024 — GP Strategies (GP) and Quantum⁵ (Q5) are joining forces to bring workforce insights and leading-edge learning solutions to OEMs and automotive retail networks in service of the modern learner and a frictionless retail experience.

Automotive retail is changing rapidly, and so are learning and the learner. Today’s employees want agency over their learning and development. They need easy access to a variety of content that addresses the real challenges they experience in showrooms and service drives every day.

Learners need consistent access to learning content across multiple devices and in the flow of work. This partnership combines GP’s learning content services, Q5’s human-centered and multifaceted engagement engine, and both teams’ in-depth automotive experience and proprietary content to deliver a robust solution. This solution will help upskill and reskill learners at all levels and provide unlimited ways to develop and grow.

Companies typically piece together learning technologies and then populate them with off-the-shelf (OTS) or custom content from multiple providers, but GP and Q5 are fully integrated. “Whether developing bespoke content, drawing from GP’s ContentFlex™ library, or Q5’s Frictionless™ curriculum, we offer our clients a one-stop shop for learning, from the boardroom to the frontline, and address every moment of need,” said Russ Becker, GP’s Co-CEO.

“We think of ourselves as the Tesla of the learning industry,” said Ken Herfurth, Co-Founder and Chief Vision Officer for Q5. “Tesla collects and uses vehicle data to enhance the driving experience, Quantum⁵ leverages learning and performance data to enable humans to become the best version of themselves. We are excited to partner with GP Strategies and to have the opportunity to level up the learning experience across automotive and other industries.”

Cathy Palochko, head of Global Automotive for GP, will lead the alliance. She will work closely with both teams to leverage their collective capabilities and expertise. Cathy noted that “this partnership will revolutionize automotive learning by combining data-driven workforce insights, industry-leading learning design and development, and a new breed of learning technology into a single solution that is easily deployed, drives high engagement, and quickly delivers ROI.”

About GP Strategies

GP Strategies Corporation, part of Learning Technologies Group, is one of the world’s leading talent transformation providers. By delivering award-winning learning and development solutions, we help organizations transform through their people and achieve meaningful change. GP Strategies has delivered our innovative consulting, learning services, and talent technology solutions to over 6,000 organizations globally. Learn more at gpstrategies.com.

About Quantum⁵

Quantum⁵, and its parent company Ander, provide a wholistic learning ecosystem focused on learners being genuinely engaged and building proficiencies. Our solution addresses multiple market issues including sustainable training over time in the auto industry. We have transformed the traditional training, learning and development approach into a learning experiences building people and teams delivered through progressive content, innovative technology and delivery, and community-focused member learning over the entire lifecycle of a person’s involvement. Quantum⁵ is connecting dealers to their customers again, in a new, but long-overdue way. Curious? Learn more at www.quantum5.ai.

Media Contact:
Laurie Halter
503-816-2474
[email protected] 

SOURCE Quantum5

DALLAS, Jan. 3, 2024 — Today marks the official launch of Pactman (www.Pactman.org), a groundbreaking web application poised to transform philanthropy by creating a dynamic online marketplace that connects passionate donors with impactful nonprofits.

Often referred to as the ‘Yelp for Nonprofits,‘ Pactman makes it easy for people to find information on trustworthy and reliable Nonprofits. Pactman combines the spirit of community-driven platforms like Yelp with the reliability of data-driven decision-making, but does this for the Nonprofit industry.

In the world of giving, especially for small to medium sized nonprofits, accessibility has traditionally trumped quality in donor decision-making. People often rely on personal connections and mainstream media for information about nonprofits, sources that lack the capacity to provide reliable data on effectiveness. Many nonprofits with good publicity fall short on delivering results, while countless effective nonprofit programs remain hidden in the shadows.

Pactman addresses this challenge head-on, providing a one-stop platform that simplifies the process of choosing the right nonprofit to support. By bridging the information gap, Pactman makes it effortless for donors to discover and rate the best and most efficient nonprofits, instantly connecting them with organizations making a real impact.

Backed by Microsoft Founders Hub, Pactman is committed to enhancing its platform’s capabilities. The goal is to create an engaged community of donors, volunteers, and nonprofits, fostering meaningful connections and driving positive change.

For media inquiries, please contact: Jim Jordan, Marketing Specialist,  [email protected], 581-507-3040, www.trypledge.org ; www.pactman.org

About Pledge Software: Pactman (www.Pactman.org) is a Dallas, TX based company whose vision is to make it easier for nonprofits and communities to get the scarce resources they need. In the words of the author Dan Pallotta, “We stand on the precipice of a possibility not known to any of our ancestors – a world free of most of the suffering that has plagued humanity since the beginning of time. Our greatest moral question is whether we will make this imagined world a reality.”

SOURCE Pledge Software

$6M early-stage biotech investment supplemented by $2.3M non-dilutive grant funding

ENCINITAS, Calif., Jan. 3, 2024 — Vasa Therapeutics, Inc. (“Vasa”), a preclinical stage biopharmaceutical company developing novel therapies for cardiovascular aging, announced today the closing of series seed funding led by Orphinic Scientific SA (“Orphinic”), an early-stage investor focused on companies with game-changing potential. The round also included participation from private investments funds NuFund Venture Group, SeedFolio, and others.

“We are delighted to gain support from a high-quality group of US and international investors who share Vasa’s mission to develop transformative therapies for cardiovascular aging that could extend the healthy lifespan,” said Artur Plonowski, MD, PhD, CEO and Co-founder of Vasa. “This closing comes at an exciting time for Vasa as VS-041, our clinical candidate for heart failure with preserved ejection fraction (HFpEF), enters the final stages of preclinical development with favorable FDA feedback at a recent pre-IND meeting.”

“We are excited to have led the seed financing for Vasa. The company’s novel biomarker strategy can lead to a personalized medicine-based therapy for HFpEF, a highly heterogenous disease, for which the currently available drugs do not provide durable improvement,” said Adam Kruszewski, CEO of Orphinic. “We are also pleased to see multiple opportunities for the other Vasa assets, including sarcopenia, obesity, and peripheral artery disease.”

Orphinic’s chairman of supervisory board, Prof. Jarosław Leszczyszyn, will join Vasa’s board of directors and represent this round of seed investors.

Pillsbury Winthrop Shaw Pittman LLP served as legal counsel to Vasa.

About Vasa Therapeutics

Vasa is a privately held biopharmaceutical company developing therapeutics that target pathophysiology of cardiovascular aging:

• VS-041 is the first potential personalized medicine-based treatment of HFpEF. VS-041 shows robust reduction of cardiac fibrosis in preclinical HFpEF model and inhibits release of signaling collagen fragments, such as PRO-C6, that mediate fibroinflammatory responses and are biomarkers of worse outcomes in HFpEF patients. Phase 1 clinical trial of VS-041 is planned for Q2 2024.
• Long acting apelin peptide analogs for combination treatment with incretins in obesity patients at risk for skeletal muscle loss or cardiovascular disease. As a monotherapy, long acting apelin agonists could also be beneficial in muscle atrophy, heart failure, chronic kidney disease, and peripheral artery disease.
• A best-in-class inhibitor of CamKIId for heart failure and life-threatening arrhythmias.

For more information, please visit www.vasatherapeutics.com

Media contact: [email protected]

SOURCE Vasa Therapeutics

CAMBRIDGE, Mass., Jan. 3, 2024 — Remix Therapeutics (Remix), a clinical-stage biotechnology company developing small molecule therapies to modulate RNA processing and address the underlying drivers of disease, today announced the close of a $60 million financing led by The Column Group. The financing includes participation from existing investors Atlas Venture, Foresite Capital, Alexandria Venture Investments, Arch Venture Partners, Casdin Capital, and Surveyor (a Citadel company) along with new investors WTT Investment, Willett Advisors, and others. The funds will support clinical development of the company’s lead program, REM-422, and further advancement of a pipeline of RNA processing targeted therapeutics.

“We are proud of and encouraged by the support of such a strong syndicate of investors who believe in Remix’s ability to develop novel small molecule therapies designed to reprogram RNA processing and treat disease in entirely new ways,” Peter Smith, Ph.D., Co-Founder and Chief Executive Officer of Remix Therapeutics. “This financing enables us to continue development of our pipeline and advance our lead program, REM-422, into the clinic for the treatment of adenoid cystic carcinoma and acute myeloid leukemia/myelodysplastic syndromes this year.”

Fueled by its proprietary technology platform, Remix is leveraging the power of data analytics and machine learning, bespoke high-throughput screening technologies, and next generation chemistry to advance a pipeline of breakthrough therapies designed to precisely modulate RNA processing. The company’s innovative approach has the unique ability to identify and target RNA processing steps to degrade mRNA, enhance RNA production, or to correct RNA dysregulation in disease. Remix’s lead candidate, REM-422, is expected to enter two Phase 1 clinical studies for the treatment of recurrent or metastatic adenoid cystic carcinoma and acute myeloid leukemia/myelodysplastic syndromes in 2024.

“Remix has made significant progress over the last several years demonstrating pre-clinical proof-of-concept for several RNA processing programs discovered using its novel platform,” said Peter Svennilson, Founder and Managing Partner of The Column Group. “We look forward to Remix realizing the full potential of its unique approach, advancing small molecules that can control gene expression to effectively treat a broad range of diseases.”

About Remix Therapeutics
Remix Therapeutics is a biotechnology company developing novel small molecule therapies designed to reprogram RNA processing and treat disease. RNA processing is the pathway that controls gene and protein expression. The REMaster technology platform facilitates RNA processing pattern identification, leveraging these learnings to identify and target key RNA processing steps to modulate gene expression. Remix’s innovative therapeutic approach has the ability to alter the way genes are read from the genome, to correct, enhance, or eliminate the gene message, thereby addressing disease drivers at their origin. For more information visit www.remixtx.com.

SOURCE Remix Therapeutics

Despite a Brutal Year for Startups, Technology Firm Succeeds to Raise a Large Sum of Capital in 2023

BROOMFIELD, Colo., Jan. 3, 2024 — Vita Inclinata Technologies, an innovator in intelligent lifting hardware and software for rescue crews and other field safety applications, announced today that it secured $44 million in funding from 3&1 Fund, a global leader in IP (Intellectual Property) based financing solutions. Utilizing a debt structure, 3&1 Fund provided a compelling alternative to traditional equity-based Venture Capital financing which will boost Vita Inclinata Technologies’ expansion initiatives.

According to Caleb Carr, President and CEO of Vita Inclinata Technologies, “We are extremely pleased to be partnering with 3&1 Fund to execute a transformative debt raise for the business. The 3&1 team is honest, direct, and willing to get creative to execute the best of business strategies. With 3&1 by our side, Vita is in a place to execute against our catalysts for significant growth.”

In the midst of a challenging year for startups, marked by limited funding, technology companies integrating software with tangible hardware and products have found a ray of hope in securing continued financial support. Vita Inclinata Technologies recently finalized an investment that allows the company to maintain operational control and preserve future earnings. This funding arrangement also taps into the strength of the company’s intellectual property, enabling them to secure the necessary mid-stage funds.

According to Brian Mosbey, Founder and President of 3&1 Fund, “We are looking to create a stable financial foundation in every deal we facilitate, not only for the innovator but also for the insurer and lender. We are committed to successful financial outcomes for all parties involved.” Mosbey added, “With their vision of using innovation to save lives, and the proven technologies they have developed to do just that, Vita Inclinata is exactly the kind of client 3&1 Fund is actively seeking.”

“As we continue to actively pursue strategic opportunities, both organically and inorganically, to grow our mission globally, we are encouraged by innovative financial partners who believe in and support high-growth businesses” concluded Carr. 

About Vita Inclinata Technologies

Vita Inclinata Technologies is creating a safety ecosystem of advanced technology, products, and training. Our intelligent lifting solutions provide precision control of loads which significantly enhances the efficiency, capability, and safety of Search and Rescue hoist and industrial lifting operations. Visit www.vitatech.co.

About 3&1 Fund

3&1 Fund is the first mover in the untapped global market of lending on Intellectual Property (IP). Founded by Brian Mosbey, the global expert on IP funding, 3&1 Fund cultivates financing solutions for each client with consideration to the varied nature and complexities of intellectual property. 3&1 Fund seeks clients who want to retain ownership of their entities and are committed to meaningful change through innovation. Prospective partners will have a portfolio of valuable, unencumbered IP and a minimum of $5 million in annual revenues, The target client seeks $20 million to $150 million in funding.

For more information about Vita Inclinata Technologies, please contact Lyssa Surface
[email protected]

SOURCE Vita Inclinata Technologies

Anthropic launch partner sees 5x revenue growth with Fortune 500 customers including Pepsico and Yum! Brands
Investment will be used to accelerate US expansion, launch in Asia Pacific and hire more AI engineers

LONDON and NEW YORK, Jan. 2, 2024 — As demand for generative AI in the legal sector explodes, Robin AI, the AI-powered legal copilot, today announces that it has raised $26 million in new funding. The Series B round is led by Temasek, a global investment company headquartered in Singapore. Other investors include QuantumLight, Plural and AFG Partners.

Robin AI was founded in 2019 by Richard Robinson, a lawyer at Clifford Chance, and James Clough, a machine learning research scientist at Imperial College. It leverages the power of generative AI to automate and speed up the process of drafting and negotiating contracts, as well as extracting information from across entire contract repositories through simple search. Its legal copilot, available as a Microsoft Word add-in, can cut the time it takes to review contracts by 85%, allowing businesses’ legal teams to move faster, save money and ultimately invest their time more strategically.

Robin AI places quality and accuracy at the heart of its approach. Earlier this year, it became one of Anthropic’s launch partners for the release of their Large Language Model (LLM), Claude – the only such partner applying this technology to legal work. Claude 2.1 allows much longer prompts than other LLMs (around 150,000 words in each prompt), a key benefit for analysing long and complex legal documents. Anthropic is also dedicated to building frontier AI models that are safe and reliable.

Robin AI operates a unique hybrid model that combines the Claude LLM with its own proprietary contract data (from over 2 million contracts) and machine learning techniques to read and understand contracts. An in-house team of legal professionals, or lawyers-in-the-loop, helps to further refine the model to ensure the highest levels of quality and accuracy. Unlike many other legal AI products that are in beta or hidden behind waiting lists, anyone can try out a free version of the copilot at www.robinai.com.

Robin AI has seen significant traction for its contract copilot with customers increasing by 4x in the past year and revenues by 5x. It has seen especially strong demand from the private equity sector where speed is critical to deal closures and where the tracking of obligations to investors can be complex. Robin AI customers include Pepsico, PwC, Yum! Brands, AlbaCore Capital Group, and BlueEarth Capital.

CEO and co-founder Richard Robinson, who has relocated to New York to support the US expansion, said: “We’ve seen incredible customer traction with what we believe is the smartest AI contract copilot on the market. But this is just the beginning. We are building the AI platform for the legal sector – a service that deeply understands every aspect of the legal function, from drafting contracts, researching case law to explaining legal concepts – our AI will help people tackle every legal task. This will help level the playing field between big and small law firms and help more people access legal services. This investment will help us to realise this vision.”

Carina Namih, Partner at Plural, said, “Everyone is wondering how AI lands usefully. Robin is delivering AI products to an astonishing volume and range of customers – serious businesses across sectors that are using it today to transform how they work. And they’ve only scratched the surface. I have backed this team since inception and couldn’t be more bullish about their ability to win the global legal market.”

Ilya Kondrashov, CEO at QuantumLight, said, “Robin AI has built a great team and product and have developed an impressive record of acquiring major enterprise accounts in a short period of time. As an AI-driven VC firm, we immediately saw the potential of Robin AI’s system to drive tremendous efficiency in the field of legal services. We are extremely grateful for the opportunity to come along with Richard, James and the wider team at Robin AI on their exciting journey to realise the potential of AI and build one of the most significant companies in the AI applications space.”

Ivan Ong, Partner at AFG Partners, said, “Robin AI is addressing a central issue in the legal industry, and in a short time has positioned itself as a market leader in a space that has significant growth potential. As a global fund backed by investors from financial services, we believe that there should be a better way to manage the growing number of legal contracts between stakeholders. Robin AI is highly applicable across our network of investors and ecosystem partners and we look forward to scaling the company deeper into Asia and globally. We are pleased to join Temasek and other seasoned investors as we support Robin AI on its growth journey.”

The funding will allow Robin AI to capitalise on the strong momentum it is seeing in a very fast moving market. This includes expanding its team on the ground in the US where three quarters of its revenue is already derived from; as well as opening an office in Singapore to expand into Asia Pacific. The investment will also be used to expand its existing team of AI and machine learning experts.

Robin AI’s contract copilot was recently launched as a Microsoft Word add-in making it even easier for lawyers to incorporate into their day-to-day work (the vast majority of lawyers use MS Word to draft, edit and review contracts). The copilot can be trained with a customer’s negotiating playbook and will quickly review a contract, identify clauses and propose edits, which can easily be accepted or rejected – all while ensuring lawyers retain full control. The Robin copilot also allows customers to use natural language search to find information, such as obligations, across all of the contracts they have signed.

About Robin AI
Robin AI serves a diverse range of customers from large multinational corporations to SMEs and scale-ups. For example, our free self-serve software helps SMEs process contracts faster and at significantly lower cost – and bigger businesses can make use of more advanced AI features to edit and query high volume contracts efficiently, alongside specialist support from our 45 in-house legal professionals.

Founded in 2019 by Richard Robinson, a former lawyer at Clifford Chance, and James Clough, a former machine learning research scientist at KCL and Imperial College, Robin AI has a 100+ team of full-time employees, including legal professionals and software engineers. The Robin AI team is based in London and New York but operates globally. 75% of its revenue is derived from the US.

About Temasek
Temasek is a global investment company with a net portfolio value of S$382 billion (US$287b) as at 31 March 2023. Its Purpose “So Every Generation Prospers” guides it to make a difference for today’s and future generations. As an active investor, forward looking institution and trusted steward, it is committed to deliver sustainable value over the long term. Temasek has overall corporate credit ratings of Aaa/AAA by rating agencies Moody’s Investors Service and S&P Global Ratings respectively. Headquartered in Singapore, it has 13 offices in 9 countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia; and London, Brussels, Paris, New York, San Francisco, Washington DC, and Mexico City outside Asia. 

About QuantumLight
QuantumLight is a global AI-driven venture capital and growth equity firm, founded by Nik Storonsky (CEO and founder of Revolut) and managed by Ilya Kondrashov (co-founder of Kriya Finance). QuantumLight relies on ‘Aleph’, its AI system, to identify and invest in the most promising growth companies, while helping them scale by drawing on Nik’s experience in building Revolut into one of the World’s most successful fintech companies.

About AFG Partners
AFG Partners is an Asian-based VC fund specialised in investing in global B2B fintech companies that want to grow in Asia and have an interest in partnering or commercializing with financial institutions, emerging challengers and corporates in Asia. With offices across Singapore and Hong Kong, the fund has invested in and has helped scale companies such as Aspire, Sprout, Brankas, Supercede, SESAMm, Necto (fka Finlync) and Tradystream.

SOURCE Robin AI

CHARLOTTE, N.C., Jan. 2, 2024 — SPATCO Energy Solutions (“SPATCO”), a forward-thinking provider of infrastructure services and innovative turnkey solutions for petroleum fueling, environmental and EV market segments, completed the acquisition of Stanton Electric, a commercial and industrial electrical contracting provider located in Oakwood, Georgia.

Founded in 2012 by Jerry and Tony Stanton, Stanton Electric specializes in EV car charging station installations in addition to generators and switchgear, Direct Digital Controls (DDC), and network cabling. They are a preferred contractor of the Georgia Power Make Ready Electric Transportation Program, a program that assists in EV infrastructure funding, providing charging options, and makes EV adoption easier for drivers and businesses across the state. Stanton Electric is also heavily involved with the Community EV Charger Program, a focused effort to expand the growth and availability of electric vehicle fast charging stations and infrastructure across Georgia.

“Stanton Electric has been an integral part of establishing sustainable EV infrastructure in the state of Georgia and it is an absolute pleasure to welcome Jerry and his team to the SPATCO family. This addition further confirms SPATCO’s investment in providing electrical vehicle infrastructure throughout our geographical footprint,” commented John Force, President & CEO of SPATCO.

This marks the second electrical-focused acquisition within mere weeks for SPATCO further solidifying their EV segment presence in the Southeast. This addition of Stanton Electric pushes SPATCO over the 1,000-employee threshold with services in 16 states and over 30 office locations. For over 88 years, SPATCO has led the industry as a distributor of petroleum fueling equipment, installation, maintenance, environmental services, and electrical vehicle segments.

Jerry Stanton commented, “We are pleased to join an organization that aligns with our core values in service and quality. As a member of the SPATCO family, our collective resources will be advantageous in our efforts to continue building sustainable EV infrastructure and providing more opportunities for EV adoption for retail, commercial, and fleet customers.” Jerry Stanton, founder of Stanton Electric, will continue to direct electrical contracting operations in the state of Georgia as well as join the executive leadership team at SPATCO. 

This investment reflects SPATCO’s strategic development and progression as the leader of the turn-key approach to consultation, planning, construction, installation, and 24/7 support in fueling solutions. Kian Capital is SPATCO’s lead investor along with co-investors RF Investment Partners, Apogem Capital and New Canaan Funding. Robinson, Bradshaw & Hinson, P.A. acted as Kian’s legal advisor, and financing for the transaction was provided by Byline Bank.

SPATCO Energy Solutions is a single-source supplier, installer and maintenance provider of innovative liquid handling equipment for petroleum, industrial, DEF, and Electric Vehicle charging. For over 88 years, SPATCO has been a trusted leader in customer service with their longstanding customer base of national and regional convenience store operators, major oil companies, commercial fleet and military fueling facilities, trucking companies, regional oil jobbers and commercial bulk petroleum plants. SPATCO is headquartered in Charlotte, NC with 30 additional office locations across the Southeast, with service and support extending across the United States. To learn more, visit www.spatco.com.

Kian Capital is a private investment firm with over $800 million of capital under management and over 100 years of collective experience providing capital solutions and board-level strategic and operational guidance to owner operated businesses. Kian cultivates integrity, transparency, and strong work ethic to foster meaningful business relationships to understand the long-term strategic requirements to ignite growth and build enduring value. Kian has offices in Atlanta, GA and Charlotte, NC. To learn more, visit. www.kiancapital.com

Contact Information 
Business Inquiries
Tonia Ballard
VP of Supply Chain Management
[email protected]
T 704.596.4373

Media Inquiries
Lauren Guyton
Marketing Project Manager
[email protected]
T 704.599.7696

SOURCE SPATCO Energy Solutions

NewSpring Health Capital IV targets high-growth, lower-middle market companies focused on technology-enabled healthcare services and niche clinical providers.

RADNOR, Pa., Jan. 2, 2024 — NewSpring, a family of private equity strategies investing in the lower-middle market, announces the final close of its oversubscribed fourth healthcare fund, NewSpring Health Capital IV (“NSH IV”), raising over $180 million. NewSpring Healthcare is a thesis-driven, domain-specific growth equity strategy, with over 20 years of experience investing in companies that help different segments of the healthcare ecosystem transform the way care is delivered to patients. NSH IV received strong support from existing and new investors, which include a diverse group of strategics, financial institutions, and family offices. Triago acted as exclusive placement agent for NSH IV.

“We partner with companies that influence healthcare by using technology and human capital in novel ways,” says NewSpring General Partner Dr. Kapila Ratnam. “Like our team, the management teams we invest behind are passionate about easing access to care, improving outcomes, and increasing efficiency while lowering costs.”  NSH IV will continue NewSpring Healthcare’s decades-long history by investing in companies that evolve and shape high-impact sectors in healthcare.

The NewSpring Healthcare team focuses on proprietary deal flow, using primary and secondary research to identify sectors that have a meaningful influence on healthcare. NSH IV has already made six investments prior to the final close, including specialized pharmaceutical distribution services provider, AeroSafe Global; end-to-end sleep disorders management provider, BetterNight; cardiovascular staffing leader, Healthworks; mobile dysphagia diagnostics leader, Patheous Health; provider of business process outsourcing services to behavioral health programs, Prosperity Behavior Health; and industry leader in healthcare disclosure management technology and services, Verisma.

“The NewSpring Healthcare team has extensive expertise in different segments of healthcare.  We rely on this experience and our networks to influence the way we deploy capital. Our LPs recognized this differentiating factor, and we are deeply grateful for their support in what proved to be a successful fundraise in less-than-ideal macroeconomic circumstances,” says NewSpring Partner Mike Kaplan.

Led by Dr. Kapila Ratnam, Mike Kaplan, and Brian Murphy, it’s that deep domain experience and passion for the sector that better positions the NewSpring Healthcare team to execute on strategic opportunities to help management teams grow their companies. A team of advisory partners round out the strategy’s healthcare industry expertise, including Pete Buzy, former CEO of previous NewSpring portfolio company Paragon Bioservices; Chris Bodine, former President of CVS Caremark; Bruce Downey, former Chairman and CEO of Barr Pharmaceuticals, Inc.; and Mark Pacala, a 30-year healthcare industry veteran.

With NewSpring Healthcare’s deep and growing deal pipeline of innovative healthcare companies, the strategy will continue to capitalize on the escalating opportunities and growing momentum within this segment of the market. NewSpring Healthcare invests from $10 to $25 million in lower-middle market companies that have between $10 to $100 million in revenue at the time of investment.

About NewSpring 

Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing, lower-middle market companies in dynamic industries to catalyze new growth and seize compelling opportunities.  The Firm manages approximately $3.5 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt.  Having invested in over 200 companies, NewSpring brings a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond.  Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries.  To learn more, visit www.newspringcapital.com.

SOURCE NewSpring