COPENHAGEN, Denmark, March 7, 2024 — BioInnovation Institute (BII), an international non-profit foundation incubating and accelerating world-class life science research, today announces that six companies are to receive additional financial support through its Venture House program, created to further support former Venture Lab companies through their next phase of growth.

The 18-month Venture House program provides exclusive follow-on funding in the form of a founder-friendly convertible loan, of EUR 1.3M, to selected companies that have already benefitted from BII’s 12-month Venture Lab program designed to support business acceleration, scientific and team development. As part of the Venture House program, companies will also take advantage of BII’s extensive network to help establish a strong board, chairman and key scientific advisors. This is the fourth cohort of companies to be accepted into the Venture House program since its launch in August 2022.

To support product innovation and ecosystem growth, the program consists of four executive sprints, each focused on a key development area to help mature the project and ultimately attract further funding. The first sprint focuses on helping companies develop an operational plan, while the following sprints provide training and support in fundraising, partnership, and leadership.

Bobby Soni, Chief Business Officer at BioInnovation Institute, said: “All six of these companies align with BII’s mission, to develop solutions to benefit human and planetary health. That is why we are proud to further support these companies through the Venture House program and bring these companies closer to receiving external investment and commercializing their technologies.”

All six companies have partaken in BII’s Venture Lab program that supports business acceleration, scientific development and team development in which each company received a risk-free convertible loan of EUR 500,000 plus access to labs and offices at the BII’s entrepreneurial ecosystem in the center of Copenhagen. Thus, after entering the Venture House program they have received in total EUR 1.8M. The new companies BII has accepted into the Venture House program are:

• Amplify Therapeutics is developing novel, disease-modifying treatments for lysosomal Parkinson’s disease
• Droplet IV is developing novel medical devices for IV infusion therapy to ensure each patient receives the full prescribed dose without adding strain to already overburdened nurses
• Fuse Vectors is developing a novel, infinitely scalable platform to manufacture viral vector-based gene therapies, which hold the promise to cure genetic illnesses through single-dose treatments
• FÆRM is an industry enabler of alternative dairy, offering various segments within the alternative proteins industry with solutions customized to their specific target group, followed by licensing of its patented enzyme technology
• Metsystem determines whether and where cancer will metastasize, and which drugs will most effectively combat it
• NorFalk produces sustainable surfactants for the use in personal and household care consumer products

Since its inception in 2018, BII has supported 100 start-ups and projects with EUR 97 million alongside the venture capital, industry and business expertise it provides to help them accelerate to the next level.  In total, BII’s start-ups have raised over EUR 428 million in external funding from both local and international investors.  Recent company successes include Embark Laboratories, Adcendo, Stipe Therapeutics, Twelve Bio, Octarine Bio, and Cirqle Biomedical.

Read more about the Venture House program here.

About the BioInnovation Institute Foundation:

At BioInnovation Institute (BII), we accelerate world-class life science start-up innovation for the benefit of people and society. As a non-profit institute, BII operates the company creation programs, Bio Studio, Venture Lab and Venture House, to support life science start-ups with knowledge, network, infrastructure and funding of up to 3M EUR per projects and 1,8 M EUR per start-up. With our expertise, network, funding, and infrastructure, we empower startups to succeed and believe in the transformative power of life science innovation. Read more on www.bioinnovationinstitute.com 

SOURCE BioInnovation Institute

Led by game industry veterans from Amazon, Meta, and Microsoft, and leading AI researchers, the company is committed to revolutionizing game development

SAN FRANCISCO and RALEIGH, N.C., March 6, 2024 — Jabali, an AI company advancing game engines and empowering visionary game designers and developers, announced that it has raised a $5 million seed round led by BITKRAFT Ventures with participation from Sapphire Sport, Sony Innovation Fund, Canonical Ventures, and angels from Amazon, Google AI, Open AI, and Pinterest. The investment will be used to expand the Jabali team, refine proprietary models, and accelerate the product launch.

Jabali’s founding team is composed of gaming executives from Amazon, Meta, Zynga and Microsoft along with leading AI researchers with extensive publications in prominent journals such as AAAI and IEEE. Combined the team has over 50 years of gaming experience and the games technology and games built by this team has been used by thousands of game developers and played by a billion players. Jabali is committed to transforming the processes and tools used to create games – removing major roadblocks like excessive coding or complicated workflows – into something that anyone with a creative vision can use. 

The company’s generative AI-powered game engine will let users create new types of games and interactive experiences without needing extensive game development knowledge. Jabali is creating a purpose-built, closed-loop feedback workflow and technology for video games and interactive experiences, utilizing the advances in multimodal generative AI.

“At Jabali, we believe that AI is the next chapter of innovation in video games. We need a revolutionary engine, built from the ground up incorporating advancements in generative AI. Our engine revisits what a game engine can do, enabling more people to make games and new experiences,” shared Jabali Founder and CEO, Vatsal Bhardwaj. Vatsal also added that Jabali is interested in partnering with visionary game makers who want to revolutionize the way games are created and exploring new game mechanics using AI.

“Today’s engines were built 25 years ago and we see an opportunity with Jabali to democratize game creation and drive innovation in today’s growing $200B+ gaming industry,” added Scott Rupp, Partner at BITKRAFT Ventures. “With Vatsal’s experience in building games and games technology at Meta, Amazon and Zynga and Dr. Arnav Jhala’s extensive expertise in AI and video games research at NC State University and UC Santa Cruz, Jabali is poised to fundamentally change how developers make games and how gamers play them.” 

“Game engines are a critical driver to the expansion of creative capability and reach. Jabali is addressing fundamental shifts in game development requiring multi-modal generative AI technology to be built from the core of the game engine. This approach will not only supercharge game studios but also enhance game development and foster a new generation of game creators,” said Joseph Tou, Managing Director – U.S., Sony Ventures. “AI is disruptive across almost all sectors and Jabali’s commitment, experience, and purpose-built application positions it as a leader in shaping the future of game creation.”

The company is hiring. For more information regarding Jabali and the company’s open roles, please visit the Careers page. 

About Jabali 
Jabali’s mission is to democratize creation and bring innovation to video games. Jabali is building an AI-native engine to empower visionaries, game designers and developers. Jabali will offer a comprehensive, easy-to-use, engine to create games and interactive experiences. Learn more at www.jabali.ai 

About BITKRAFT Ventures

BITKRAFT Ventures is a leading global investment platform for gaming and Web3 according to research from InvestGame and Drake Star Partners. Founded by industry pioneer Jens Hilgers, BITKRAFT serves a worldwide network that spans many of the industry’s forward-thinking startups and founders—including former executives from the likes of Activision Blizzard, Riot Games, Epic Games, Google, and Apple who are working to build and operate the virtual worlds and economies of the future. BITKRAFT operates four venture funds with a total of over $830M in assets under management and has over 100 companies in its global portfolio as of August 2022.

BITKRAFT’s experienced international team works closely with exceptional entrepreneurs to create significant value through early candid partnerships, unique domain experience, entrepreneurial history, and a global ecosystem of strategic partners. Find out more about how BITKRAFT and its portfolio companies are pushing the boundaries of Synthetic Reality® by visiting https://www.bitkraft.vc/vision.

About Sapphire 
Sapphire Sport is the first-of-its-kind ~$300M AUM venture strategy that brings together the capital and industry experience of premier global sporting, media and lifestyle brands, including City Football Group, adidas, AEG, MSG, Sinclair, Arctos, Bank of Montreal and principal owners and investors from franchises in all major U.S. sports leagues. Sapphire Sport primarily invests in Seed, Series A and B-stage technology companies (both B2B2C and B2C) that are powering the next generation of consumer behavior across media, digital commerce, gaming, health and human performance, culture and community. Sapphire Sport is currently investing out of its $181M second fund, announced in January 2023

About Sony Ventures Corporation   
Sony Ventures Corporation manages the Sony Innovation Fund (SIF), which invests in all stages of emerging technology companies as well as in startups solving global environmental challenges. SIF engages with pioneering startups to help fuel the development of disruptive technologies, launch new businesses, and contribute to the environment while seeking return on investment. Sony Ventures Corporation is headquartered in Japan. Learn more at www.sonyinnovationfund.com.

SOURCE Jabali

$10-Million Round Led by Financial Services Entrepreneur Landon Smith, Backing Future ‘Front Runner’ in Sandal Space

DALLAS, March 6, 2024 — Hari Mari, the premium sandal brand known for infusing color and comfort into its distinctive flip flop lines, announced today it recently closed on a $10-million equity raise to support its continued growth plans in the casual footwear & lifestyle space.

The twelve-year-old Dallas-based brand, which gained immediate traction in the $26-billion global sandal market with its no break-in MemoryFoamToe™ and commitment to crafting high-end casual footwear, made the announcement on the eve of its Spring 2024 collection launch on HariMari.com.

‘This is a very special day for Hari Mari. Since starting the brand from our garage in 2012, my wife and I have dreamed of growing Hari Mari into a household name,’ said Jeremy Stewart, Hari Mari’s co-founder and CEO. ‘Hari Mari makes best-in-class footwear and delivers exceptional value to its great customers. With this raise under our belt, we’re investing in our core high-margin flip flop and slipper lines, expanding our audience reach, and strengthening our position to set Hari Mari up for sustainable, long-term growth in the market.’

Hari Mari’s equity investment round is led by financial services entrepreneur and former founder and CEO of Riveron, Landon Smith. ‘Well-made consumer products in the casual space will serve as growth centers for decades to come. We believe Hari Mari is going to be a front-runner in that conversation, and our investment is going to give the brand and its management team the runway to get there,’ said Smith. ‘It’s going to be a fun journey.’

In concert with the investment, Smith and his advisory team will serve an active role in helping Hari Mari management shape and advance the company’s strategic goals in the coming months and years.

‘We’re excited beyond words, and to be doing this with incredibly talented people who bring a ton of experience to bear, makes it that much more exhilarating,’ said Hari Mari co-founder, Lila Stewart.

Additional participants in Hari Mari’s equity raise include Montgomery Capital Advisors and DWBI Investments. Subsequent to closing, Method Bank will serve as Hari Mari’s primary banking facility, while also providing the business with a working line of credit.

ABOUT HARI MARI FLIP FLOPS
Hari Mari is a premium sandal & slipper brand based in Dallas, Texas, with distribution in over 800 retail doors throughout the U.S., Mexico, Canada, and the Bahamas. The company also sells its products through HariMari.com, where it offers its full footwear and accessory assortment, including footwear, sweatshirts, shorts & joggers ranging from $60 to $160.

Jeremy & Lila Stewart founded Hari Mari in 2012 with the goal of creating a flip flop brand steeped in comfort, introducing the brand’s patented MemoryFoamToe™ at the time of launch to mitigate and do away with the painful break-in periods and toe irritation associated with most sandals. Combining its comfort-first approach with classic looks and color profiles, Hari Mari quickly gained traction for crafting timeless flip flops with modern comfort components.

The idea for Hari Mari came while the Stewarts were living abroad in Indonesia. As such, ‘Hari’ means ‘Sun’ in Indonesian, and ‘Mari’ means ‘Sea’ in Latin – a nod to the roots of the idea. Hari Mari also gives a portion of its sales to help children and families battling pediatric cancer. The program is called Flops Fighting Cancer.

Hari Mari’s Spring 2024 sandal lineup can be found on HariMari.com, along with a full list of the brand’s retail partner stores and locations. The brand’s best-selling flip flop, is its water-friendly men’s & women’s ‘Dunes’ line, retailing for $60.

ABOUT LANDON SMITH
Landon Smith is the Founder and former Chief Executive Officer at Riveron, a national business advisory firm specializing in accounting, finance, and operations. A serial investor, Landon has served as CEO to Envolve, a corporate wellness consulting program, as well as Chairman to Zyyah, a digital home companion that leverages technology, expert knowledge, and relationships to radically simplify home management. Smith ensures management, investors, and board members are aligned and empowered to fulfill each firm’s strategic vision and achieve rapid growth with the initiatives & causes he spearheads.

Contact: 
Lila Stewart
(214) 908-0282                                                                                                                                                                
[email protected]
Office 214-637-2700    

SOURCE Hari Mari

Innovative Cardiology Platform Poised for Growth with Latest Funding Round Led by General Catalyst

WASHINGTON, March 6, 2024 — Chamber Cardio (Chamber), a technology-enabled cardiology solution, announced today an $8 million seed round led by General Catalyst with support from existing investor AlleyCorp and participation from Company Ventures, American Family Ventures, and City Light. In an industry where the transition to value-based care remains limited among cardiologists, Chamber emerges as a dedicated partner, uniquely positioned to support and collaborate with cardiology practices.

Cardiovascular disease drives over $400 billion in annual healthcare expenditures, and Chamber aims to tackle this issue head-on by making the transition to value-based care more accessible. The funding will be utilized to further develop Chamber’s technology, expand the cardiology network nationally, and grow the team.

“Cardiovascular care, a top cause of U.S. mortality and financial challenge for health plans, is expected to intensify with rising disease, aging populations, and complex supply dynamics,” said Chris Bischoff, Managing Director at General Catalyst. “Our partnership with Chamber aims to shift cardiology care toward value, enhancing access to high-quality care and lowering healthcare costs, which are core tenets of our Health Assurance thesis.”

Chamber was founded in response to challenges expressed by cardiologists nationwide. Many voiced their frustration with the lack of technology to effectively care for their population, inability to negotiate with payers, and secure value-based deals based on quality. Chamber addresses this by equipping cardiologists with real-time insights, evidence-based guidelines, care teams, and contracting support to streamline workflows, enabling them to focus on patient care. The company’s mission is to empower cardiologists to operate in a value-based world where they are compensated for delivering the right care at the right time.

“Our objective is to provide unparalleled support to cardiologists as they navigate the transition to value-based care, putting them in control of their practice,” said George Aloth, Co-Founder and CEO of Chamber. “By doing so, we aim to provide patients with the highest quality of care, ultimately improving health outcomes for heart disease.”

Co-Founded by George Aloth, former President & CEO of a BCBS health plan and kidney care VBC executive; Dr. Sameer Sheth, a cardiologist and digital health leader; and Dr. Jeffrey De Flavio, a Co-Founder of Pearl Health and founding CEO of Groups Recover Together, Chamber’s team has deep expertise in operating and navigating the complexities of value-based care. Chamber is the premier solution for both cardiologists and payers to improve the health outcomes for individuals with cardiovascular disease.

“The multi-trillion dollar shift to outcome driven reimbursement is accelerating across healthcare, especially in cardiology,” said Dr. Jeffrey De Flavio, Co-Founder and Executive Chairman of Chamber. “Cardiologists and insurers are seizing this opportunity to improve care and align reimbursement with our industry leading technology.”

Chamber is actively managing patients in the Mid-Atlantic region with ambitious plans for nationwide expansion. In addition to existing payer partnerships, Chamber is looking to rapidly grow their cardiology network. Visit www.chambercardio.com to explore opportunities for practices and payers to partner with Chamber and discover how you can join a dynamic and growing team.

About Chamber 
Chamber is dedicated to supporting cardiology practices through technology-enabled delivery. Co-founded by healthcare industry leaders George Aloth, Dr. Sameer Sheth, and Dr. Jeffrey De Flavio, Chamber empowers cardiologists to thrive in a value-based care landscape, ensuring improved patient outcomes and increased practice success.

SOURCE Chamber Cardio

The collaboration will fund climate technology companies scaling solutions focused on community impact 

HONOLULU, March 6, 2024 — Wells Fargo, together with Elemental Excelerator, a leading nonprofit climate technology investor, and the New York City Energy Efficiency Corporation (NYCEEC), a leading nonprofit green bank, have joined forces to launch a new debt financing program, called Capital Access for Climate Innovators. The Capital Access Program was created to pilot innovative lending and co-investing vehicles to catalyze climate technology projects with significant community benefits.  

This collaboration aims to address funding gaps faced by climate technology companies, and particularly those led by traditionally excluded founders. Elemental and NYCEEC are partnering to identify and provide capital to Elemental portfolio companies who face finance gaps on their path toward commercialization and where debt capital can catalyze scale. To support this effort, Wells Fargo has provided a $400,000 grant, which will allow Elemental and NYCEEC to identify and share best practices and build financing tools and resources for climate technology companies, community lenders, credit enhancement providers and other project investors. 

“There’s an acute need for new kinds of financing and collaborations to support technology companies that are working to reduce GHG emissions,” said Curtis Probst, CEO of NYCEEC. “This partnership will help us create greener, cleaner and more affordable communities. We are excited to partner with Elemental to bring NYCEEC’s green lending to Elemental’s portfolio of climate tech innovators.” 

“At Elemental, we are profoundly aware of a $150 billion financing gap for climate technology projects scaling from early stage to widespread commercial adoption. With this partnership designed to reduce friction in accessing capital, we take an important step to bridge this gap and accelerate the deployment of climate projects with strong community benefits, like reduced utility bills, cleaner air, and more accessible transportation,” said Dawn Lippert, Founder and CEO of Elemental Excelerator.

Over the past decade, Elemental has supported over 150+ innovative climate technology companies through technical support and equity investments, while NYCEEC has provided debt financing to assist building owners, contractors, and developers in funding clean energy projects throughout NYC and the surrounding region. Through coordinated efforts, this partnership aims to supercharge the growth of climate technology companies and rapidly scale the number of projects they are able to deploy in communities throughout the country.

“We are proud to work together with Elemental Excelerator and NYCEEC to help strengthen the pipeline that can deploy capital for climate resilience,” said Robyn Luhning, Chief Sustainability Officer at Wells Fargo. “Across the communities we serve, we seek to accelerate solutions that support access to clean, affordable energy technologies and economic opportunity.” 

The announcement comes in the lead up to the Greenhouse Gas Reduction Fund and other important Inflation Reduction Act programs that will activate investors, from state and local green banks to community development finance institutions, to make climate solutions more affordable and accessible to low-income and other underserved communities across the country. Through this initiative, Elemental and NYCEEC will establish resources and frameworks that can be used across the climate tech investing ecosystem to support expanded funding opportunities that will be made available through the GGRF. 

About Elemental Excelerator
Elemental is a nonprofit investor in climate technologies with deep community impact. We bring more than a decade of experience across the climate sector, with an active and maturing portfolio of 150+ companies. Elemental fills two gaps fundamental to addressing climate change: funding projects for climate technologies in communities, and embedding equity and access into climate solutions. We invest in transformative technologies to create a systems change for a more resilient, equitable future. To learn more about Elemental’s team and our work in scaling climate technology with community impact, visit www.elementalexcelerator.com. 

About the New York City Energy Efficiency Corporation (NYCEEC)
NYCEEC is a nonprofit green bank sourcing funds from the public, private, and philanthropic sectors to support community clean energy projects through debt financing. Launched in 2010 by the New York City Mayor’s Office, NYCEEC has since expanded its geographical reach throughout the Northeast and Mid-Atlantic regions. NYCEEC’s mission is to deliver financing solutions and advance markets for energy efficiency and clean energy in communities. To date, NYCEEC has mobilized over $480 million to fund projects that are expected to eliminate over 1 million tons of CO₂e, with nearly 85% of those projects serving low-to-moderate income communities. To learn more about NYCEEC’s team and its Board of Directors, visit their website.

Contact: [email protected]

SOURCE Elemental Excelerator

• Ryvu has met the conditions for receiving EUR 8 million in Tranche A of venture debt from the European Investment Bank (EIB) due to the progress within the RVU120 program among other factors.
• Pursuant to the agreement concluded with EIB, Ryvu still has access to a further EUR 14 million over two additional tranches. The disbursement of funds is subject to specific conditions outlined in the agreement.
• Together with various sources, this financing secures Ryvu’s cash runway until Q1 2026.

KRAKOW, Poland, March 6, 2024 — Ryvu Therapeutics (WSE: RVU), a clinical-stage drug discovery and development company focusing on novel small molecule therapies that address emerging targets in oncology, announced today that on March 5, 2024 it has received formal confirmation of the fulfillment of the conditions necessary for the disbursement of the Tranche A of EUR 8 million venture debt from the European Investment Bank (EIB), under the financing agreement concluded on August 16, 2022.[KS1] [JJ2]  The offer of disbursement of Tranche A was issued by EIB, among other factors specified in the financing agreement, due to the successful transition of the RVU120 program from Phase I to Phase II of clinical development. The company is expecting to receive PLN 8 million payment on March 13, 2024.

In August 2022, Ryvu announced that the EIB would provide up to a total of EUR 22 million, and this EUR 8 million represents the first tranche. The funds are being provided under the EIB’s venture debt instrument, which is tailored to the specific financing needs of high-growth innovative companies. The European Fund for Strategic Investments, part of the Investment Plan for Europe, is backing this funding with a guarantee. 

“We are excited that the progress of RVU120 now allows us to access the funds to help accelerate the development of our lead program and the rest of Ryvu’s pipeline. Together with different sources, the financing secures Ryvu’s cash runway until Q1 2026.“, said Pawel Przewiezlikowski, Chief Executive Officer of Ryvu Therapeutics. “We expect that further progress on Phase II RVU120 clinical development will enable Ryvu to fulfill the requirements and obtain the remaining EUR 14 million from the EIB.” 

The EIB’s financial support will help Ryvu finance its development pipeline of new cancer treatments, from discovery to clinical trials. Ultimately, Ryvu aims to address the clinical limitations of current treatments in oncology and provide patients with access to innovative therapies for hematologic and solid tumors. 

About Ryvu Therapeutics    

Ryvu Therapeutics is a clinical-stage drug discovery and development company focused on novel small-molecule therapies that address emerging targets in oncology. Internally discovered pipeline candidates use diverse therapeutic mechanisms driven by emerging knowledge of cancer biology, including small molecules directed at kinase, synthetic lethality, and immuno-oncology targets. 

Ryvu’s most advanced programs include RVU120, a selective CDK8/CDK19 kinase inhibitor with the potential to treat hematological malignancies and solid tumors, currently in Phase II development (i) as a monotherapy for the treatment of patients with relapsed/refractory acute myeloid leukemia (r/r AML) and high-risk myelodysplastic syndromes (HR-MDS) as well as (ii) in combination with venetoclax for the treatment of patients with r/r AML. Another clinical program, SEL24 (MEN1703), is a dual PIM/FLT3 kinase inhibitor licensed to the Menarini Group. Ryvu Therapeutics has signed multiple partnering and licensing deals with global companies, including BioNTech and Exelixis. 

The Company was founded in 2007 and is headquartered in Kraków, Poland. Ryvu is listed on the Warsaw Stock Exchange and is a component of the mWIG40 index. For more information, please see www.ryvu.com. 

SOURCE Ryvu Therapeutics

Up-round investment to accelerate vertical and regional expansion, product innovation, and strategic partnerships

NEW YORK, March 6, 2024 — Claroty, the cyber-physical systems protection company, today announced it has secured $100 million in strategic growth financing. Participants include lead equity investor Delta-v Capital, as well as AB Private Credit Investors at AllianceBernstein, Standard Investments, Toshiba Digital Solutions, SE Ventures, Rockwell Automation, and Silicon Valley Bank, a division of First Citizens Bank. Combined with Claroty’s existing $635 million in funding to date, this new financing further establishes the company’s leadership position in the critical infrastructure cybersecurity market.

The funds will be used to scale Claroty’s platform approach to cyber-physical systems (CPS) protection across key verticals including the public sector and heavily regulated critical infrastructure industries, expand in emerging regions across the Americas, EMEA, and Asia-Pacific, fuel research and development for core and adjacent technologies including secure remote access, and double down on new and existing strategic partnerships.

“The past year has brought unprecedented geopolitical, macroeconomic, and regulatory changes that have created new trends and challenges for those charged with protecting the world’s critical infrastructure,” said Yaniv Vardi, CEO of Claroty. “With our deep domain expertise, unmatched technological capabilities in our comprehensive platform, and extensive partner ecosystem, Claroty is uniquely equipped to help CPS defenders navigate these changes. This new investment reinforces our leadership position in the CPS security market and propels us forward on our journey to ensure the cyber and physical worlds can safely connect to drive progress, improve productivity, and support our lives.”

The financing comes shortly after a momentous year for Claroty, which now works with 20% of the Fortune 100. Recent growth milestones, industry recognition and industry accolades include:

• Revenue: Surpassed $100 million in annual recurring revenue (ARR) during 2023
• Customers: Achieved over 300% growth in number of customers since 2020
• Partners: Established strategic technology alliances with industry leaders such as CrowdStrike, ServiceNow, and AWS; added several Managed Security Service Providers (MSSPs) including IBM, Rockwell Automation, Schneider Electric, NTT Data, and eSentire to its FOCUS Partner Program
• Product Innovation: Enhanced its SaaS offerings with new vulnerability and risk management (VRM) capabilities, further empowering security teams to evaluate and strengthen their organization’s CPS risk posture
• Threat Research: Team82, Claroty’s award-winning research team, has discovered and disclosed over 550 CPS vulnerabilities to date
• Analyst Recognition: Named a Leader or relevant vendor in numerous industry analyst reports, including:
  • KLAS Research, Best in KLAS for Healthcare IoT Security, four years in a row
  • Everest Group, Operational Technology (OT) Security Products PEAK Matrix® Assessment 2023 – Leader
  • Westlands Advisory, 2023 IT/OT Network Protection Platforms Navigator™ – Leader
  • Quadrant Knowledge Solutions, SPARK Matrix™: Operational Technology (OT) Security Q4 2023 – Leader
  • Quadrant Knowledge Solutions, SPARK Matrix™: Connected Medical Device Security Solution, Q4 2023 – Leader
  • Gartner®, 2023 Market Guide for CPS Protection Platforms – A Representative Vendor¹
  • Forrester, The Operational Technology Security Solutions Landscape, Q1 2024 – Notable Vendor
• Awards: Named to the Deloitte Technology Fast 500 for three years in a row, the Forbes Cloud 100 for two years in a row, and the inaugural Fortune Cyber 60
• Leadership: Added considerable talent to its leadership team with the appointments of Derek Phillips as Chief Revenue Officer, Shira Bar Yosef (Weizman) as its first-ever Chief Customer Officer, and former U.S. National Cyber Director Chris Inglis and Amtrak CISO Jesse Whaley as advisory board members

“The lines between the digital and physical worlds are blurring, which means that cyber attacks and incidents are having more physical, real-world impacts such as power outages, fuel shortages, and disruptions to medical care,” said Dan Williams, Partner at Delta-v Capital. “Claroty has demonstrated a unique ability to address critical infrastructure organizations’ most pressing security needs, and we believe its platform approach to CPS protection is strongly aligned with where the market is headed for years to come. We are excited to join such an important mission and look forward to supporting Claroty’s continued growth and success.”

“As our world becomes more digitally connected, cybersecurity becomes an increasingly urgent priority, especially when critical infrastructure is involved,” said Lewis Leavitt, Director at AB Private Credit Investors. “Claroty has proven that its talented leadership team, advanced technology, and go-to-market strategy comprise the key ingredients for long-term growth, and we are delighted to come aboard at such an exciting time in the company’s journey,” continued Alex Barry, Managing Director at AB Private Credit Investors.

“The New York Corporate Banking team is excited to support Claroty with this new strategic growth financing,” said Sameer Paul, Director of Silicon Valley Bank. “We have witnessed the company’s impressive success and strong growth while providing critical needs for the cybersecurity market. The Claroty team shows true professionalism and are the type of strong operators SVB loves to support. We look forward to partnering with the company as they continue to grow and scale.”

¹ Gartner, Market Guide for CPS Protection Platforms, 29 June 2023, Katell Thielemann, Wam Voster.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
GARTNER and Magic Quadrant are registered trademarks and service marks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

About Claroty

Claroty empowers organizations to secure cyber-physical systems across industrial, healthcare, commercial, and public sector environments: the Extended Internet of Things (XIoT). The company’s unified platform integrates with customers’ existing infrastructure to provide a full range of controls for visibility, risk and vulnerability management, threat detection, and secure remote access. Backed by the world’s largest investment firms and industrial automation vendors, Claroty is deployed by hundreds of organizations at thousands of sites globally. The company is headquartered in New York City and has a presence in Europe, Asia-Pacific, and Latin America. To learn more, visit claroty.com.

SOURCE Claroty

Tava Health’s all-in-one platform prioritizes therapists and increases accessibility for individuals seeking quality mental health care.

SALT LAKE CITY, March 6, 2024 — Tava Health, a trailblazing mental health company, successfully completed a $20 million Series B funding round led by Catalyst Investors. Existing investors Peterson Partners, Toba Capital, and SpringTide, along with new investor Blue Heron Capital, also participated in the funding round. The new capital will be utilized for extensive product development, expansion of Tava Health’s provider network, and bolstering partnerships with employers and health insurance carriers. Kapil Desai, partner with Catalyst Investors, will join the company’s Board of Directors as part of the investment.

“Demand for therapy is greater than ever, and while access to mental health care is improving, we still face a crisis of access and quality,” said Desai. “We are confident in Tava’s innovative approach to mental health and proud to back a company that successfully delivers a complete solution for therapists, enabling them to do what they do best – helping clients when they need it, how they need it, and where they need it.”

Tava Health’s therapist-centric model sets it apart in the mental health market. The company prioritizes therapists, providing open access to Tava’s electronic medical record (EMR) and practice management software, empowering therapists to deliver top-notch care to patients in a full-stack platform.

“We developed Tava with therapists at the center, recognizing that their needs are rarely prioritized. By equipping therapists with tools to make them more productive, they can increase time with patients providing mental health care that is so desperately needed,” said Dallen Allred, CEO of Tava Health. “In a mental health landscape where timely access to care is crucial, Tava Health is a beacon of efficiency and accessibility.”

Tava Health has inked agreements with national carriers such as Aetna and UHC in the last year, broadening access to continuous care for patients. The company has also expanded its local partnerships, establishing ties with 45 regional medical carriers.

Tava Health’s commitment to prioritizing therapists translates into industry-leading accessibility and minimal wait times, ensuring that individuals seeking mental health support can swiftly connect with qualified professionals. With Tava, patients can access care quickly, as early as the same day. Tava Health is able to do this without sacrificing quality, as its therapists receive a 4.94 out of 5 stars on average, underscoring the positive impact of a therapist-centric approach on client satisfaction and overall mental health treatment experience.

About Tava Health

Founded in 2019, Tava Health is a cutting-edge mental health platform revolutionizing access to quality care. Bridging the gap between providers and those seeking support, Tava Health prioritizes therapists, offering an integrated suite with an electronic medical record, telehealth, billing, and referral management. Committed to breaking down barriers, Tava Health partners with employers, making mental health checkups as routine as other healthcare practices. For more information, visit www.tavahealth.com.

About Catalyst Investors

Catalyst Investors is a growth equity firm based in New York. Over the past 20-plus years, Catalyst has invested in rapidly growing technology companies and has established a successful track record of partnering with entrepreneurs and helping companies scale. Recent investments and exits include Breezeway, BrightFarms, ChowNow, Clinicient, EDB, Fusion, LinkSquares, Pax8, Presence and Weave. For more information, visit www.catalyst.com.

SOURCE Tava Health, Inc.

Newly secured capital to drive growth across Fantasy, Sportsbook, Casino, and Media divisions – Betr also announced strategic hires with the addition of a Head of Media Revenue, Partnerships, and Strategy and Head of Government Affairs           

MIAMI, March 6, 2024 — Betr Holdings, Inc. (“Betr”) today announced it has closed $15 million in strategic equity financing from a premier group of investors at a $375 million valuation, bringing its total funding to date to $100 million. The round was co-led by Harmony Partners and 10x Capital, with participation from the company’s three largest existing investors: Fuel Venture Capital, Aliya Capital Partners, and Roger Ehrenberg/Eberg Capital, alongside others. This round of financing comes off a highly successful 2023 for Betr, where the company reached a significant level of scale – both with respect to paying users and revenue – while doing so efficiently and profitably.     

Betr recently announced market access expansion plans for its Online Sportsbook product, having secured market access in Pennsylvania, Ohio, Virginia, Indiana, Colorado, and Kentucky, as well as the upcoming launch of its Casino product (pending regulatory approval), with the company also securing iGaming market access in Pennsylvania. Betr has also officially received its temporary Indiana sports wagering license from the Indiana Gaming Commission in recent weeks.

Betr also recently announced that it has fortified its senior leadership team, hiring Dan Maas as Head of Media Revenue, Partnerships, and Strategy and hiring Andrew Winchell as Head of Government Affairs. Dan joins Betr from Wave Sports & Entertainment, where he worked his way up from VP of Partnerships to EVP of Commercial and oversaw the development and monetization of highly successful premium franchises, including New Heights with Travis and Jason Kelce and Podcast P with Paul George, in addition to leading the monetization of their successful original short form video focused social media content strategy, which are both highly synergistic to the core pillars of Betr Media. Dan will lead monetization efforts for Betr Media, positioning Betr’s media arm to become a large bona fide revenue-generating business – in addition to the primary benefit Betr Media serves, which is to create unfair customer acquisition economics for Betr Gaming. Andrew joins Betr from FanDuel, where he served as their Directory of Regulatory Affairs. Andrew brings a breadth of experience working closely with state regulators and political leaders on key issues pertaining to sports gaming and will meaningfully strengthen Betr’s internal government and regulatory affairs capabilities as the company scales in size and launches in new jurisdictions.

“We are thrilled to announce our strategic equity financing, new members of our senior leadership team, and the approval of our temporary Indiana sports wagering license,” said Joey Levy, Founder and CEO of Betr. “Jake (Paul) and I co-founded Betr just over two years ago, so raising capital from leading growth stage investors at a $375 million valuation in the very early days of our business is a testament to the performance of the team and business to date, and the potential we have to build a category defining business with Betr. Finally, I want to thank the Indiana Gaming Commission for the honor and privilege of a sports wagering license in the Hoosier state. We are excited to launch our new V1 Sportsbook product in Indiana over the coming months, while bringing our best-in-class responsible gaming standards to the state.”

Harmony Partners is a leading growth investor funding breakout emerging companies led by Mark Lotke, who led the software group at FTV Capital, led the pre-IPO group at Internet Capital Group, and prior to that was at General Atlantic. 10X Capital is a prolific venture capital firm led by co-founders Hans Thomas and David Weisburd having invested in companies including 23andMe, Palantir, Robinhood, and Udemy. 10X Capital was a significant investor in DraftKings going back to July 2018.

“We believe that Betr has the product, management and market opportunity that we saw in DraftKings in its early days with a significantly larger TAM and room for growth today,” said David Weisburd, Co-Founder and Head of Venture Capital at 10x Capital.

About Betr 

Founded in 2022 by Joey Levy and Jake Paul, Betr is a leading sports gaming and sports media company focused on enhancing the consumption of sports through entertainment. Betr’s gaming products are differentiated through a unique product experience with a simplified user interface that is catered to the casual sports fan, enabling Betr to capture more of the underpenetrated online gaming addressable market. Betr began with a beta version of its Online Sports Betting (OSB) product, which only offered microbetting markets such as the next play in a football game or the next pitch in a baseball game, before launching its real-money Daily Fantasy Sports (DFS) product, Betr Picks, in 24 states. Betr plans on launching its V1 Sportsbook product with full sportsbook capabilities ahead of the 2024 NFL season, as well as its iGaming vertical with the launch of Betr Casino by the end of 2024. Betr’s media division, Betr Media, is the fastest growing sports betting media brand in the United States that has grown to over 2.5 million followers, 2.6 billion impressions, and 140 million engagements across its social channels since publicly launching in August 2022. Betr Media is able to effectively reach and engage its audience at scale given its large social following coupled with its unique combination of in-house media talent and production, with an emphasis on original short-form video content. 

For more information on Betr, visit betr.app or follow @betr on TikTok, Instagram, and Twitter. To learn more about responsible play, please visit betr.app/responsibility. 

SOURCE Betr Holdings, Inc.