Following Cypress Growth Capital’s Investment, Privy Founder and CEO Scott Fahl to Launch Speaker Series

DENVER, Feb. 15, 2024 — Privy, a real estate investment software platform providing curated information to individual investors and real estate agents focused on residential investment opportunities and wealth-building, secured $4 million in non-dilutive growth capital from Cypress Growth Capital.

Founded in 2019, over the past two years, Privy has grown its customer base by 1000%, setting itself apart as a prop-tech success story that allows real estate investors and agents to find profitable deals with “push button” simplicity. The platform culls extensive market data from a variety of open and exclusive sources, including Multiple Listing Service (MLS) data, and then applies proprietary algorithms to identify those properties most likely to be successful, low-risk investments.

Scott Fahl, Founder and CEO of Privy expressed pride and excitement when discussing the future of the company and the team’s commitment to innovation. “This is such an exciting time for us at Privy. Cypress Growth Capital is the type of partner we needed. They have the experience to help us scale strategically and understand what we mean when we say we want to change the real estate investing game.”

“Privy has an innovative SaaS solution serving a rapidly growing segment of the real estate investment market,” said Cypress Growth Capital Managing Director Vik Thapar. This investment underscores confidence in Privy’s unique position in the real estate investing space. The additional capital will be used to further invest in the product, improve customer experience, and build sales channel expansion, including a series of speaking engagements with Scott Fahl.

American Lending Conference has invited Scott to be a Special Keynote Speaker on February 28, 2024, in Fort Lauderdale, Florida. Scott will discuss his experience in lending and how it led to the manifestation of Privy as a way to help real estate professionals capture more business. The following month on March 8, Scott joins a panel discussion at The National Private Lenders (NPLA) Conference in Miami to discuss how data analysis, the power of artificial intelligence, and the efficiency of automation are transforming private lending in real estate.

About Privy
Privy is a fast-growing prop-tech company on a mission to empower investors and homeowners to build wealth through real estate investing. Serving real estate investors, and the agents and lenders who work with them, Privy’s SaaS solution is built to find, analyze, and track markets to uncover the best investment deals first regardless of experience level or economic climate. Leveraging comprehensive direct-to-MLS data and patent-pending Investor CMA technology, our real estate investing platform unlocks better analysis, higher transaction volume, long-term client loyalty, and increased returns with the click of a button. Based in Denver, Colorado, Privy was founded by Scott Fahl in 2019. Learn more at www.privy.pro, or follow us on LinkedIn, Instagram, and Facebook.

About Cypress Growth Capital
For an entrepreneur considering growth funding, Cypress Growth Capital provides an innovative alternative to equity and traditional debt. Our firm invests in emerging companies using a royalty-based approach that preserves an entrepreneur’s equity and control. With more than 50 investments in premier software and technology-enabled services companies since 2011, Cypress offers a flexible, patient form of debt capital that is well-suited to the unique financing needs of fast-growing companies. In addition, as both a debt and equity investor, Cypress partners with entrepreneurs through multiple stages of growth, providing select equity capital alongside our non-dilutive royalty financing, allowing companies to access the funding they need now, but with far less dilution. Providing more than just capital, our partners have extensive operating and entrepreneurial experience and bring useful, practical assistance to our portfolio companies. Learn more at: https://cypressgrowthcapital.com/.

SOURCE Privy

The data-centered music financing platform has raised over $120M in 18 months as demand grows for new financing solutions among independent artists

NEW YORK, Feb. 15, 2024 — Duetti, a music financing platform democratizing the music business by enabling catalog monetization for independent artists, today announced $90M in new funding. This includes $15M of new equity, alongside a new $75M credit facility. The equity financing is led by Nyca Partners, alongside Viola Ventures, Duetti’s lead seed equity investor, and Cohen Circle. The $75M credit facility is provided by Northleaf Capital Partners. The latest funding underscores Duetti’s ability to acquire catalog tracks at scale, and highlights the increasingly positive long-term financial outlook of the independent music market.

“The music industry has evolved and independent artists are bucking tradition and approaching their careers in new, savvy ways,” says Duetti CEO and Co-Founder Lior Tibon. “At Duetti, we are dedicated to making the industry more transparent and unlocking new opportunities for independent artists who are normally overlooked by the investment community and the more traditional label system.”

Duetti’s model unlocks immediate cash flow for a wide range of artists, allowing them to sell master catalogs, individual tracks, or parts thereof, an opportunity previously only accessible to a small group of A-list artists. The new funding will support accelerated growth of Duetti’s catalog acquisitions, development of proprietary advanced prediction and analytics technology, and expansion of unique catalog marketing capabilities. Duetti recently opened offices in New York, Los Angeles, and Miami to support the growing team.

“We are excited to partner with the Duetti team on their creative efforts to provide liquidity to independent artists”, says Jeremy Solomon, Partner at Nyca. “The company’s data-forward approach combined with its partner-centric model puts Duetti in a position to become a critical and scaled player in the music investment space.”

“Northleaf is delighted to partner with Duetti to support the company’s continued growth, leveraging our combined expertise to drive industry-transforming opportunities for artists and investors alike,” added CJ Wei, Director at Northleaf. “Their innovative systems and operational processes are impressive and we believe they are well-positioned for ongoing success.”

Duetti has quickly emerged as an essential business partner and trusted ally for over 250 artists across all genres and career stages – including Olivia O’Brien, Sevyn Streeter and Łaszewo. Offering a wide range of financial options, Duetti’s deals typically start at $10,000, reaching up to $2M per transaction. The independent artist segment has grown exponentially in recent years. According to Luminate, 436,000 total tracks were streamed 1M times or more globally in 2023, a 17% increase versus the prior year.

“I could not ask for much more from Duetti – they bought a number of my tracks and will increase my streaming performance while providing me with upfront cash to help me focus on my next projects,” said Brent Morgan, Singer, Songwriter, and Duetti Artist Partner. “Working with Duetti was transparent, fair, and a much needed breath of fresh air in this industry.”

Artists with tracks that have been on streaming platforms for at least 2 years, and have garnered at least 500,000 streams in the last 12 months can learn more about master sale opportunities on Duetti.co.

About Duetti
Duetti was founded by Lior Tibon, former COO of TIDAL, and Christopher Nolte, former Business Development executive at Apple Music, with the mission of getting a wide range of artists quick and easy access to catalog sales and unlocking new investment opportunities. Leveraging their experience in streaming and support from music and tech’s most innovative investors including Nyca Partners, Viola Ventures and Roc Nation, Duetti’s music financing platform has helped over 250 artists receive up to $2M per transaction. The unique model provides data-driven prices for established tracks, allowing artists to sell individual tracks or even parts thereof, while Duetti then markets those tracks going forward using unique ROI-focused techniques.

SOURCE Duetti

Unlocking hydrogen for industrial decarbonization with quick-to-market materials for trucking and beyond

CHICAGO, Feb. 15, 2024 — Today Celadyne, the decarbonization and hydrogen solution company, announced that they have raised $4.5M in seed investment funding. The round was co-led by Maniv and Dynamo Ventures, with major participation from EPS Ventures.

Celadyne was founded by Gary Ong, with a Ph.D. in Materials Science and Engineering from the University of California, Berkeley. He got his start at Sputnik Accelerator, and as a fellow at the Chain Reactions Innovations program at Argonne National Laboratory. The company collaborates with fuel cell and utility firms, offering efficient hydrogen solutions to heavy-duty industries such as energy, manufacturing, and transportation. Celadyne’s advanced technologies effectively convert hydrogen to usable energy through compact, easy-to-use fuel cells that seamlessly integrate.

“At Celadyne, our mission is simple: unlocking the true potential of hydrogen,” says Gary Ong, Ceo & Founder at Celadyne Technologies. “This new funding will accelerate our product in the market as we aim to decarbonize industries like transportation and manufacturing, offering a cost-effective route for green hydrogen production. Our goal is to embrace these industries, helping them contribute positively to the planet.”

Specifically, Celadyne’s materials and technologies replace the proton exchange membrane to create fuel cells that are more durable, and electrolyzers that are more compact and efficient. This newfound durability allows fuel cells to be utilized as an environmentally-friendlier alternative to diesel engines, and makes electrolyzers that produce low cost green hydrogen as fuel.

“Like many decarbonized energy solutions, widespread hydrogen adoption faces a clear chicken or egg problem,” says Jake Wieseneck, Principal at Maniv. “Celadyne is solving both sides of the problem, by creating high-value hydrogen use cases while simultaneously reducing hydrogen’s cost to fuel growth. As believers in mobility innovation’s ability to catalyze generational change, we’re proud to back companies like Celadyne that are enabling a more sustainable future by creating new building blocks for the movement of people and goods.”

This latest funding will expand upon capital from Shell Ventures, Sputnik ATX, the Third Derivative Accelerator, and Sandy Spring Climate Partners. Celadyne has been publicly and financially supported for their world-changing hydrogen applications through grants from the US Department of Energy, National Science Foundation, ARPA-E, and Department of Defense – AFWERX. These entities, along with Celadyne’s customers, who are Tier 1 automotive leaders shaping the future of mobility worldwide, believe that advanced materials hold the key to unlock the full potential of hydrogen.

“At Dynamo, we believe in the importance of decarbonizing the supply chain,” says Jon Bradford, Co-Founder & Managing Partner at Dynamo Ventures. “Celadyne is redefining how logistics can be decarbonized, with their deep expertise and granular understanding of the potential of hydrogen. This investment isn’t just the next step – it’s the future of energy and mobility as we know it. It’s the beginning of a greener, more efficient industry, and planet.”

“Eastern Pacific Shipping (EPS) believes in investing in the future of maritime and sustainability,” says Gary Ong, Investment Manager at EPS Ventures. “While the shipping industry is vital in our modern world, it is also challenging to decarbonize. We’re excited to support Celadyne’s growth in creating green hydrogen solutions capable of completely transforming how we conduct these operations. Backing Celadyne means backing a cleaner future for the maritime industry.”

This latest funding will expand upon previous capital from Shell Ventures, Sputnik ATX, and the Third Derivative Accelerator and Sandy Spring Climate Partners. The capital will be used to expand on the team’s growth with engineers coming from Siemens Energy, Argonne National Lab, The US Navy, Micron Technologies, Hyzon Motors, and Northwestern University. The team will support the ongoing development of Celadyne’s materials technology, to create even better fuel cells and expand its usage in electrolysis across its growing list of clients across the US. By year end, Celadyne expects to double its customer base and these developments will open up a whole new world for green energy applications in industries that are historically some of the harshest on the environment.

About Celadyne Technologies

Celadyne is an American technology company that provides hydrogen solutions to the energy industry. Celadyne works with fuel cell and utility companies to provide advanced technologies and materials that are capable of effectively converting hydrogen to usable energy. Its production and use of hydrogen is more efficiently used across heavy duty industries such as energy, manufacturing, and transportation. To learn more, please visit https://www.celadynetech.com/.

Press contact: 
Kathy Osborne
607-434-2065
Press@celadynetech.com

SOURCE Celadyne Technologies

TELLURIDE, Colo., Feb. 15, 2024 — Despite recent record-setting IP expenditures, US enterprises waste $1 trillion annually by failing to monetize their IP assets.

ScaleIP (formerly LicenseLead) today announces a $1.5 million pre-seed financing to accelerate its pioneering IP business intelligence solution. This investment was led by the Greater Colorado Venture Fund, with participation from Tunitas Venture, Comeback Capital, Community Access Fund, and Seed Round Capital. The capital will accelerate ScaleIP’s ability to help more IP teams monetize their under-valued patents.

“The IP landscape is cluttered with underutilized patents,” said CEO and Co-founder Mark Leonard. “A surge in IP filings and record-setting corporate IP expenditures has pushed enterprises into rapidly adopting new monetization strategies. By harnessing transaction data, ScaleIP helps IP teams save labor time, gain new revenue streams, and support patent decision making by identifying and engaging with the most likely IP partners.”

The company was born in response conventional patent analytics tools, which often fail to reveal viable commercial partnerships. By leveraging intelligence with proprietary IP transaction data, ScaleIP is helping enterprises, universities, labs, and hospitals identify high-intent target companies to monetize underutilized their patents.

“Data is the gold in this new AI revolution,” said Cory Finney of the Greater Colorado Venture Fund. “In any industry that is hindered by fragmented data, there is opportunity. ScaleIP is at the forefront of unlocking new opportunities in this overlooked industry.”

Over 130+ IP dealmakers are using ScaleIP for several reasons:

• Licensing patents
• Selling patents
• Deciding whether to keep or abandon a patent.
• Seeking collaborators or partnerships.
• Determining their patent’s market value.

To learn more or sign up for a demo of ScaleIP by visiting ScaleIP.com.

About ScaleIP

ScaleIP combines IP transaction data with intelligence to streamline finding the right companies and people to license, sell, or collaborate around any patent. Visit ScaleIP.com for more information. ScaleIP is hiring!

SOURCE ScaleIP

Over 18 industry leaders, including SE Ventures (Schneider Electric), Home Depot, Fifth Wall, Ferguson, Suffolk Technologies, and Starwood Capital, now back Higharc as more builders switch to its integrated cloud platform.

DURHAM, N.C., Feb. 15, 2024 — Higharc, the connected cloud platform for homebuilding operations, announced today a $53 million Series B funding round powered by over 18 industry leaders from construction, building products manufacturing, and distribution.

The new financing follows the company’s rapid growth and customer demand in 2023, as it has emerged as the next-generation cloud software leader in the $350 billion US homebuilding industry.

Spark Capital and Pillar VC led the round, with participation from SE Ventures (Schneider Electric’s Venture Arm), Fifth Wall, Starwood Capital, Standard Investments, Home Depot, Ferguson, Simpson Strong-Tie, Mulhern+Kulp Engineering, Suffolk Technologies, RXR Realty, PSP Growth, Metaprop, SC Masterfund, Carl Bass — the former Autodesk CEO — along with leaders from Mighty Buildings, Welcome Homes, CBRE, and Ware Malcomb. ‘

The investment will be used to support Higharc’s growth and expand its automated materials estimating and generative AI-based workflows.

“Higharc exists to serve the hardworking teams who build homes across America–they’ve been stuck using 40-year-old software that wasn’t designed with their needs in mind, and they deserve better,” said Marc Minor, CEO of Higharc. “This additional capital reinforces Higharc’s long-term commitment to the success of our customers and to unlocking digital transformation for the entire homebuilding industry.”

Homebuilders Are Bringing New Communities to Market 3X Faster With Higharc
The adoption of Higharc’s generative design technology helped builders bring new homes and communities to market faster than ever in 2023, eliminating 90 days from the design cycle for new communities — a 75% reduction — while decreasing soft cycle time by 33%.

“Higharc is truly the ‘best in class’ way to draft new home designs and to guide potential buyers through the overwhelming personalization process prior to sale. We’re now more responsive than ever,” said Paul Hanson, President of Franchising at Epcon Communities and current Higharc customer.

Over one million homes are built annually in the U.S., yet we still have a housing shortage of five million homes¹. Builders often struggle to improve operational efficiency because they are stuck with old, siloed software solutions and inadequate data. The results are time-intensive manual processes, a “whack-a-mole” approach to changes, constant rework, and poor customer experiences.

Higharc’s Homebuilding Cloud replaces the “pen and paper” processes and software solutions that dominate the industry. Homebuilders get everything they need to design, estimate, sell and build homes in one place. This means departments can stay connected and in sync with accurate data while moving much faster. Whenever a plan changes, every department gets updated automatically with new 3D sales experiences, materials takeoffs, and construction documents — drastically reducing cycle time and costly rework.

“Higharc is modernizing a large, foundational industry that’s traditionally been tough to change with technology. By bringing together builders, manufacturers, and buyers, Higharc’s transformative technology is rewriting the rules of the design-to-construction process. This technology is fundamentally improving how we build homes in this country for generations to come,” said Alex Finkelstein, Co-founder and General Partner at Spark Capital.

Industry Insiders Invest to Accelerate Innovation in Homebuilding
The investment brings Higharc’s total capital raised since 2018 to $78.7 million, positioning the company to continue delivering on their mission to help build better and more affordable homes through technology.

Previous investors Javelin Venture Partners, Lux Capital, and Vertex Ventures also joined the round. Over 18 industry leaders came together to support Higharc’s growth and innovation in the industry.

“Higharc’s technology is second-to-none in the homebuilding space, offering a system that expedites the design-to-construction process and adds value to all stakeholders. In collaboration with Schneider Electric, SE Ventures is excited to help bring market insight and drive commercial deployment with homebuilders globally,” said Brad Jones, Principal at SE Ventures.

“I’ve rarely seen such a talented team come together around such a powerful shared vision,” said Russ Wilcox, Partner at Pillar VC. “They cracked the code on how software can help builders move from concept to construction with a smart and precise tool, which means owners get exactly what they want, and the job is both faster and cheaper. Everybody wins.”

To learn more about Higharc, visit higharc.com.

About Higharc
Founded in 2018, Higharc is the pioneer of The Homebuilding Cloud — the only connected platform that helps homebuilders transform how they design, sell, and build new homes and communities. Higharc customers today build over 40,000 homes annually representing $19 billion in new home sales volume. Headquartered in Durham, North Carolina, Higharc operates a remote-first workplace with over 70 full-time employees.

About Pillar VC
Pillar VC is an early-stage venture firm co-founded by 22 CEOs who have built Boston’s most successful companies, including the leaders of Wayfair, Ginkgo Bioworks, DraftKings, and Tripadvisor. Pillar is typically the first capital in for founders building next-generation pillar companies; the firm’s investments include PillPack, Desktop Metal, Jellyfish, JobGet, and Asimov, among other companies. To learn more, visit www.pillar.vc.

About Spark Capital
We are Spark Capital, investors in products we love by creators we admire, including Affirm, Anthropic, Cruise, Discord, Oculus, Plaid, Postmates, Slack, Twitter, and Wayfair. We know there are no playbooks or formulas for success and are here to help founders win their own way. We invest across all sectors and stages, and work out of San Francisco, Boston, and New York City.

¹Source: https://www.nar.realtor/june-is-national-homeownership-month/housing-supply-and-affordability

Contact Information:
Higharc
Cameron Austin
540-397-3554
[email protected]

SOURCE Higharc

NEW YORK, Feb. 14, 2024 — As we mark this milestone, we are filled with gratitude for the unwavering support of our clients and investors. Over the past decade your belief in our vision and commitment to excellence has been instrumental in propelling us forward.

Here’s to a decade of growth, partnership, and shared success.

Over this decade we continued to grow our investor distribution platform by consistently adding large Single Family Offices, Multi Family Offices, Private Credit Funds, Insurance Companies, Sovereigns, Endowments, and Private Equity funds to our investor platform. In addition to our initial direct Private Credit and direct Private Equity capital raise business, we have also added Fund Finance capabilities (raising NAV and Non-Dilutive GP Financings) as well as Commingled Private Credit, Private Equity, and select Hedge Fund LP Capital raises as well. Our investor distribution and product expansions reflect the capital needs of our clients in the ever-changing financial landscape.

“It is a great honor and privilege to have worked with such incredible clients and investors over these initial 10 years. The entire Cambridge Wilkinson team thanks you all, and we very much look forward to the next 10 years as we continue to grow and continue to offer additional capital raise services on our platform”, said Rob Bolandian, Co-founder and Global Head of Investment Banking at Cambridge Wilkinson.

www.cambridgewilkinson.com

About Us:
Cambridge Wilkinson is a leading global investment bank with the speed, connections, and the confidence to get transactions done. With a focus on middle-market companies, we arrange debt and equity capital raises from $25 million to $5 billion and advise on mergers and acquisitions. In addition, we also provide flexible and scalable leverage facilities and credit facilities for private equity funds and alternative credit funds which range from $25 million to $2 billion. We bring deep experience working with specialty finance institutions, real estate entities, funds as well as businesses spanning a variety of other industries. We offer unique access to a broad network of capital sources including large family offices, credit funds, banks, non-bank credit groups, insurance companies, private equity, sovereigns, and endowments.

All securities assignments are completed through Avalon Securities, Ltd. a FINRA member and SEC registered broker-dealer.

Rob Bolandian, Partner & Global Head of Investment Banking
[email protected]

Howard Chernin, Partner & COO
[email protected]

SOURCE Cambridge Wilkinson

LEHI, Utah, Feb. 15, 2024 — Consensus, the leader in Enterprise Demo Automation, announces the promotion of Whitney Jones to Chief Financial Officer.  In her previous role as VP of Finance and Business Operations, Whitney played a pivotal role in leading the financial strategy of Consensus, contributing significantly in securing the $110M Series C from Sumeru Equity Partners in February of 2023.

Whitney said, “I am beyond honored and excited to have been given the opportunity to be Chief Financial Officer at Consensus. We truly have something special here. I’m honored to work with this tremendously talented team. At Consensus, there is an authentic culture of innovation and desire to win the right way. There is endless potential for how Consensus will transform the enterprise buying experience.”

As the new CFO, Whitney will continue to play a pivotal role in steering Consensus towards new financial milestones, overseeing the financial and business operations, strategic planning, and fiscal responsibility of Consensus. This strategic move complements Consensus’s recent addition of Doug Johnson as CEO. It reflects Consensus’s commitment to fostering internal talent and maintaining a strong leadership team as the company continues to experience growth and success.

Doug, CEO at Consensus, said, “I am thrilled that Whitney has moved from Consensus’ VP of Finance and Business Operations to CFO. She has a proven track record of leading the organization’s financial and operational agenda. I have complete faith that Whitney will continue to help the company grow revenue and further our mission of using demo automation to make buying easier for the end customer.”

Consensus launched Tours in November 2023, which gives buyers a new way to explore products independently and asynchronously without forcing them to “click every click.” Presales, sales teams, and customer success can create a prescriptive story path that takes the buyer on a multipage immersive experience incorporating live product UI and task-based navigation. Demo pages will use both text and video explainers to demonstrate product features and value propositions. This frictionless approach enhances buyer product education and streamlines the sales process enabling Presales and Sales teams to compress buying cycles, reallocate internal time savings to high-value activities, and close more deals with fewer resources.

ABOUT CONSENSUS:

Consensus, the Intelligent Demo Automation Platform, scales presales instantly with interactive video demos. Presales and technical sales teams automate repetitive product demos which allows them to reallocate that time to higher value activities. Buyers get a better experience— one that guides them with digital, interactive and on-demand video demos. This uncovers stakeholders automatically and eliminates unqualified demos, which in turn dramatically shortens sales cycles by 29% up to 68% and improves close rates by up to 44%. Market leaders like Salesforce, SAP, Oracle, Autodesk, Sage, Trintech, Coupa and many others trust Consensus to scale. For more information, visit www.goconsensus.com or follow us on LinkedIn.

Media Contact:
Garrett Erickson
562-991-3702
[email protected] 

SOURCE Consensus

FreezeM aims to simplify BSF reproduction and increase protein yield through the supply of its PauseM® product to BSF protein producers, tapping an estimated $3.96 billion market by 2033 according to Meticulous Research forecast. This innovation plays a vital role in boosting insect protein production capacity for livestock and pet food while implementing a circular economy, conserving precious global farmland, and reducing ocean depletion.

Traditionally BSF breeding is a major bottleneck in industrial scale insect protein production, requiring unique bio-expertise to tackle inherent colony instabilities and technological gaps. While there are vast off-the-shelf engineering solutions for rearing and processing, breeding challenges can’t be addressed by machinery alone. As the insect farming industry matures, it follows a similar trajectory to other established agricultural market segments, moving towards supply chain specialization and segmentation. PauseM® is developed to overcome the fundamental challenges of insect breeding, thereby giving our customers’ competitive edge in the market. By eliminating these industry constraints, PauseM® not only promotes sector growth but also facilitates scaling of the global insect protein industry.

PauseM® is a ready-to-use product, containing life-cycle ‘paused’ BSF neonates with an extended shelf-life of 14 days and consistent high survival rates of over 90%. PauseM® is shipped to BSF protein facilities worldwide, stored on site and flexibly used according to production needs. This technology paves the way to a new decoupled BSF protein production model, separating the breeding phase from rearing and processing phases for the first time in the insect farming industry. The adoption of PauseM® as an outsourced ongoing breeding supply enables increased protein production efficiency, reduces Opex and Capex and streamlines seamless scalability.

FreezeM takes the breeding hurdle out of the equation, streamlining insect protein production and making it more efficient and accessible from new entrants to veteran market players. The newly established decoupled protein production model marks the first time the breeding phase is separated from the rearing and processing phases in the insect farming industry. The company currently supplies PauseM® globally, catering to small to large-scale BSF protein factories.

“The current funding round will enable FreezeM to embed our technology globally at scale and accelerate the growth of our breeding hubs in Europe and Israel, thereby driving successful commercial expansion. Our technology unleashes the insect market from its shackles and will propel the insect protein market to fulfill its true potential,” said Dr. Yuval Gilad, Co-founder and CEO of FreezeM.

About FreezeM

Founded in 2018 as a spin-off from the Weizmann Institute of Science by three institute graduates Yoav Politi, Idan Alyagor and Yuval Gilad. FreezeM’s mission is to make insect farming simple and accessible using novel breeding solutions for the emerging BSF farming industry. Since its establishment, the company has developed multiple biotechnological breakthroughs for enhancing sustainable, streamlined insect protein production. FreezeM was awarded several prestigious grants from the European Commission and the Israeli Innovation Authority, and participated in leading innovation consortiums in Europe and Israel.

Photo: https://mma.prnewswire.com/media/2338548/FreezeM.jpg

Media contact:
Peter Gorne
Head of Marketing
info@freeze-em.com 
+972502044934

–  Roche led the financing alongside existing and new investors – 

– The funds will progress clinical programs and expand platform capabilities –

SOUTH SAN FRANCISCO, Calif., Feb. 15, 2024 — Freenome, a biotechnology company developing blood tests for early cancer detection, announced the addition of $254 million from new and existing investors. The funding enables Freenome to advance the pipeline of single-cancer and tailored multi-cancer early detection tests built on its multiomics platform.

Roche led the financing, joined by a16z Life Sciences Growth Fund, the American Cancer Society’s BrightEdge Ventures, ARK Investments, ArrowMark Partners, Artis Ventures, Bain Capital Life Sciences, Cormorant Capital, DCVC, Eventide Asset Management LLC, Intermountain Ventures, Perceptive Advisors, Polaris Partners, Pura Vida Investments, Quest Diagnostics (NYSE: DGX), RA Capital Management, Sands Capital, Section 32, Squarepoint Capital, with funds and accounts advised by T. Rowe Price Associates, Inc., and others.

“We are grateful for the support and confidence of our investors. Together, we share a commitment to addressing the pressing need for better cancer screening solutions as we drive to make early cancer detection more convenient, accessible and actionable for everyone,” said Mike Nolan, chief executive officer of Freenome. “With this financing, we are well positioned to realize the full potential of our platform in delivering tests for early cancer detection.”

“We are excited by Freenome’s journey over the last few years, and we look forward to expanding our collaboration. Enabling wider access to early cancer screening means helping patients receive timely information that can lead to better outcomes. Freenome’s groundbreaking blood-based screening and data-driven insights offer incredible potential to transform personalized healthcare,” adds Matt Sause, chief executive officer of Roche Diagnostics.

Many lives are lost to cancer, in part because the disease is often detected late. Freenome is leveraging its multiomics platform, which uses computational biology, machine learning and other technologies to develop screening tools to detect cancer in its earliest, most treatable stages. The platform is also being evaluated alongside Freenome’s biopharma and diagnostic company partners to non-invasively detect minimal residual disease (MRD) augmented with biological insights derived from the multiomics platform.

“We look forward to collaborating with Freenome to advance the potential of their breakthrough multiomics technology for multi-cancer screening, building on our other initiatives to advance liquid biopsy innovations in cancer screening and minimal residual disease testing,” said Mark A. Gardner, senior vice president, molecular genomics and oncology, of Quest Diagnostics.

Freenome’s initial programs are focused on deadly and actionable cancers – colorectal and lung with a pipeline of single-cancer and multi-cancer tests under development. The company has two registrational studies underway:

• PREEMPT CRC: A >40,000-participant prospective clinical study with comprehensive longitudinal real-world data (RWD) evaluating Freenome’s blood-based screening test among adults at average risk for colorectal cancer (CRC).
• PROACT LUNG: A prospective observational clinical study enrolling up to 20,000 participants. The study is intended to validate Freenome’s lung screening test in current and former smokers 50 years and older who are eligible for screening with an LDCT scan.

Freenome is also developing tests to screen for other cancers as part of its multi-cancer research programs, including the Vallania Study and others. Combined, the multi-cancer studies will involve >10,000 participants with paired RWD.

• The Vallania Study: A multicenter, multi-cancer research program with more than 6,200 participants enrolled, including risk-matched control participants to reflect intended use populations. The study will compare blood samples from both cancer and non-cancer individuals to understand patterns associated with lung and other priority cancers.

About Freenome
Freenome is breaking barriers to early cancer detection with a suite of blood tests built on its multiomics platform. The company recognizes that no single technology can identify every cancer due to the inherent heterogeneity of the disease. Freenome’s multimodal approach combines molecular biology and assays with computational biology, machine learning and multiple data types to tune into cancer’s subtlest cues, even at the earliest stages of disease.

With the convenience of a standard blood draw, Freenome aims to empower everyone to access recommended cancer screenings. The company is partnering with healthcare organizations and population health decision-makers to integrate its technology and software platform, making cancer detection easier and more accessible. Freenome is headquartered in South San Francisco, California. Find out more at www.freenome.com and visit us on LinkedIn.

SOURCE Freenome Holdings, Inc.