Rocketlane champions professional services teams, the OGs of after sales experts, with an all-in-one AI powered platform to deliver the promise of sales and removes siloed project management and inefficiencies.

SAN MATEO, Calif., June 25, 2024 — Professional services teams in companies are like the A-Team, a group of individuals who help clients extract the real value of a product or service they have purchased. They deliver on the mission of the company and the promise of the sales teams. However, today, their work is stifled by a mix-and-match of tools and legacy systems. Enabling them to succeed and thrive in their work, workflow automation platform Rocketlane is today announcing a $24 million Series B funding round as it expands the opportunity for professional services teams with AI capabilities.

The funding round was co-led by 8VC, Matrix Partners India, and Nexus Venture Partners. With this, it brings the total funds raised to $45m.

Rocketlane has broadened its proposition from supporting customer onboarding to doubling down on professional services teams with their needs. Most teams manage their processes using a manual patchwork of siloed PSA tools or spreadsheets. The result is project delays and a hit to profitability. In contrast, Rocketlane gives professional services teams visibility into every aspect of a project — progress made, stakeholders involved, pending/completed tasks, and delayed items, helping teams prioritize tasks that need their attention while creating an avenue for smooth communication with clients.

Over the last year, Rocketlane has tripled its revenue and reached over 500 customers, including enterprise companies that have switched to Rocketlane from legacy Professional Services Automation (PSA) tools. Recent customer wins include industry-leading names like OpenGov, LivePerson, Fivetran, Personio, and Zenoti among others.

Srikrishnan Ganesan, CEO & Co-founder, Rocketlane commented: “Our unique combination of high-velocity innovation and robust capabilities sets us apart, and has helped us consistently win large, forward-thinking customers, including public companies. With this new investment, we are committed to accelerating our AI roadmap and redefining the client portal experience,” adding, “We have equipped ourselves to handle the challenges of rapid growth, and continue delivering exceptional value to our clients.”

Nav Kalra, VP of Professional Services at OpenGov, a Rocketlane customer said, “In a sea of legacy tools, Rocketlane stands out as a modern, disruptive force in the PSA software landscape with its all-in-one platform. The intuitive interface and unparalleled client-facing experience make managing client projects a breeze. We’re thrilled to partner with Rocketlane as we continue to revolutionize the way we work.”

A growing segment of the company’s customers are in the AI SaaS category. Although onboarding is challenging for any SaaS business, those in AI tend to have more complex deployments, and as a result more complex needs. Rocketlane helps SaaS providers provide an accelerated onboarding journey that holds customers accountable, shortens time-to-value, and helps begin expansion conversations earlier (which increases Net Revenue Retention), right from the first touchpoint.

In parallel, Rocketlane has launched its own AI functionality with more capabilities in the coming months. The new funding will significantly accelerate Rocketlane’s AI roadmap, enabling the development of advanced features and capabilities that enhance client project delivery. As enterprises focus more on leveraging AI, Rocketlane’s AI-driven capabilities for resource management, efficiency, and productivity are expected to provide a competitive edge.

This growth follows another significant milestone for the company. Rocketlane was crowned the G2 Momentum Leader in the PSA category for three consecutive quarters, in addition to securing 199 other G2 badges in the Spring 2024 report. Today, Rocketlane is the go-to choice for services firms that want to elevate their project delivery experience and optimize their utilization margins.

The company was founded in April 2020 by second-time entrepreneur trio — Srikrishnan Ganesan, Vignesh Girishankar, and Deepak Bala. Previously, the trio built a successful in-app messaging (FreshChat) startup that was acquired by Freshworks (NASDAQ: FRSH) in 2015 and started Rocketlane in response to problems they faced onboarding their own customers to FreshChat.

“Rocketlane has reshaped enterprise client project delivery, replacing tired, legacy PSA approaches with elegant software and deployment,” said Bhaskar Ghosh, Partner at 8VC. “Speed and agility matter when you become the leader in a category like customer onboarding. Rocketlane has achieved precisely that since their Series A, showing themselves to be both visionaries and incredibly hard-nosed executors. We are thrilled to continue supporting Rocketlane and Sri, Deepak, and Vignesh, founders who lead with a rare blend of thought, culture, and action.”

Jishnu Bhattacharjee, Nexus Ventures Partners, added: “We are thrilled to double down on backing Sri and the team at Rocketlane as they transform the PSA and customer onboarding categories with their industry-leading, AI-powered product and fast-growing list of marquee customers.”

Vikram Vaidyanathan, Managing Director, Matrix India, added: “The Rocketlane team has a great opportunity to replace legacy PSA software with their AI roadmap and great user experience. The company has executed this vision with rapid adoption and has solidified its industry-leading position. We are excited to reinforce our commitment to them.”

To date, the company has seen remarkable success with key customers such as Icertis, Drift, Moveworks, and Clari.

Rocketlane customer Siva Rajamani, CEO, Everstage commented: “We have accelerated customer wins by 35%, and helped our post-sales teams build stronger partnerships with customers from the start of their journey. Rocketlane elevates our customer experience in delivery with strong automation and consistency into our execution with customers”.

As part of its growth strategy, Rocketlane is excited to announce the appointment of Rao Adavikolanu as Chief Marketing Officer (CMO). Rao’s expertise will be instrumental in driving Rocketlane’s market presence and strategic initiatives.

Looking ahead, Rocketlane is committed to attracting more top-tier talent and executing its AI-first roadmap to make onboarding and project deliveries chaos-free. Srikrishnan Ganesan added: “The team is excited about our upcoming innovations–especially the unique AI capabilities and the first-of-its-kind dynamic client portal in this space–that will expand the gap between Rocketlane and the competition”.

About Rocketlane
Rocketlane is a purpose-built PSA and client onboarding platform that helps businesses deliver predictable outcomes, accelerate time-to-value, and improve team utilization and project profitability. The platform reimagines service delivery for teams by replacing legacy PSA and generic project tools with an all-in-one and modern client-centric platform. Rocketlane offers a unique, unified workspace that improves communication, collaboration, and project visibility for businesses and their clients. It equips teams with trends and benchmarks across projects, which in turn helps them develop and optimize playbooks and processes. To learn more about Rocketlane, visit www.rocketlane.com.

Contact
Varun Singh
[email protected]
+91-8369283466

SOURCE Rocketlane

The injection of funds will enable the Bangladeshi startup to empower more drivers through an expanded network of battery swapping stations.

DHAKA, Bangladesh, June 25, 2024 — In the bustling streets of Bangladesh, where millions rely on three-wheelers daily, Tiger New Energy (“Tiger”), a Bangladeshi clean energy startup, is setting a new standard in urban mobility with its innovative battery swapping technology. ADB Ventures has provided the company with an additional US$1 million in funding, augmenting the US$2.5 million seed round led by Wavemaker Partners last year. The investment accelerates the deployment of Tiger’s battery swapping network across Bangladesh, advancing its mission to promote eco-friendly mobility and deliver substantial socio-economic benefits.

Driving Change for Green Mobility and Empowering Local Communities

Harvard Business School alumni Nicole Mao and Yiwei Zhu founded Tiger New Energy to address the pressing issues of carbon emissions and energy inefficiency that plague Bangladesh’s urban transportation sector. Approximately 4 million electric three-wheelers and vehicles transport over 112 million people daily across the country. However, the use of low-quality lead-acid batteries, which only last 6 to 8 months, hinders these vital modes of transportation from being as efficient as necessary. The absence of adequate charging infrastructure compounds the problem, posing imminent safety threats, including the risk of fire accidents.

In a transformative move, Tiger has introduced a network of stations where rickshaw drivers can swap their depleted batteries for fully charged ones in less than one minute compared to four hours previously. This dramatically reduces downtime and has been shown to amplify the earnings of rickshaw drivers by an impressive 60%, reinforcing the backbone of urban transport in Bangladesh.

Innovative Technology Drives Economic Growth

Tiger’s proprietary Offline Swapping and Reverse Charging features ensure service continuity during power outages, while its infrastructure doubles as Decentralised Energy Storage Systems (DESS), contributing to grid stability. Advanced thermal management and data-driven optimisation algorithms further elevate the performance and lifespan of Tiger’s lithium-ion batteries over traditional alternatives.

“Our mission is clear: to make clean mobility accessible to all in emerging markets,” said Nicole Mao, co-founder and CEO of Tiger New Energy. “This funding validates our technology and business model and strengthens our commitment to reducing carbon footprints, fostering sustainable development, and enhancing the livelihoods of local communities.”

Investment and Growth

Wavemaker Partners, Southeast Asia’s leading VC firm investing in early-stage enterprise, deep tech, and sustainability startups, led the funding round with notable participation from ADB Ventures. The round’s other investors include 500 TukTuks, Orvel Ventures, Humble, Penataran Management, Brett Barna, the founder of the Barna Family Office, an undisclosed Singaporean Family Office, and an undisclosed angel investor.

Investors recognise the potential of Tiger’s solution, particularly female entrepreneurs like Nicole Mao and Yiwei Zhu, who are making a significant impact. “We invested in Tiger New Energy because Nicole and Yiwei are incredible founders, and Bangladesh is an underserved, fast-growing market,” said Doug Parker of Wavemaker Partners. “The investment from ADB Ventures is a sign of the quality of the team and the impact of their work on hard-working citizens.”

ADB Ventures, with a strategic focus on sustainable and inclusive growth, supported Tiger’s mission. “Tiger New Energy’s swift battery swapping solutions alleviate range anxiety for electric vehicle drivers in Bangladesh and pave the way for cleaner energy access and economic empowerment. Their inclusive business approach, dedicated women empowerment initiatives, and commitment to climate impact closely align with our core mission of catalysing climate action and advancing gender equality through transformative solutions in emerging Asia,” said Yichu Zhang of ADB Ventures.

Expanding Networks and Empowering Women

With this investment, Tiger plans to expand its network beyond 100 battery swapping stations to empower over 10,000 rickshaw drivers. The funds will also enhance talent acquisition, spur research and development, and facilitate the exploration of new regional markets. Tiger is actively forming strategic partnerships with leading EV manufacturers and energy providers to further its mission.

Social Impact Through the HerDrive Initiative 

Tiger’s commitment to societal impact is demonstrated through the HerDrive initiative, which aims to boost the number of female rickshaw drivers, currently under 1% of the workforce. The initiative provides training, mentorship, and financial assistance for female drivers in EV ownership, opening a new and stable income source and enhancing the safety and comfort of female passengers. The HerDrive initiative aims to empower 1,000 women by 2025.

Moving Forward: Sustainable Transportation Solutions

As Tiger New Energy forges ahead, it remains dedicated to creating continuous social impact through transformative initiatives. Backed by a robust foundation and the unwavering support of its investors and community, Tiger is poised for rapid growth and is actively preparing for its Series A funding round at the end of 2024.

To learn more about Tiger New Energy and the HerDrive initiative, please visit https://tigernewenergy.com/. 

About Tiger New Energy

Based in Dhaka, Tiger New Energy, founded by two Harvard MBA alumni, is transforming clean mobility in South Asia with its ‘Battery as a Service’ model. The company is setting up a battery swapping station network that utilises lithium batteries to offer sustainable transportation solutions. By introducing a daily subscription model and collaborating with local government and communities, Tiger New Energy aims to make electric vehicles more affordable and accessible, significantly reducing carbon emissions and enhancing environmental sustainability. The service allows users to embrace green mobility without the high upfront cost, promoting the spread of eco-friendly transportation solutions across various regions.

SOURCE Tiger New Energy

CHICAGO and LOS ANGELES, June 25, 2024 — Create Music Group, a rapidly growing music and entertainment company, announced today a $165 million investment led by private equity investment firm Flexpoint Ford.  Flexpoint seeks to partner with companies that provide differentiated financial solutions and services to growing industries and has significant experience in the music space.  The firm’s investment is expected to support Create’s continued momentum and its efforts to further improve and augment the services it offers to its global client-base.

Founded in 2015 by Chief Executive Officer, Jonathan Strauss, Chief Operating Officer, Alexandre Williams and Chief Business Development Officer, Wayne Hampton, Create Music Group is a dynamic, data-driven music company that leverages technology, an owned audience of more than 400 million fans, and a valuable catalog of IP,  providing a full range of services to independent artists and labels, including music distribution, music publishing, owned marketing channels, content creation support, advertising and branding, and tailored financial solutions. Create’s proprietary software platform and full suite of professional services gives a rapidly expanding number of independent artists and labels access to major-label services at every stage of their growth. Create’s rapid growth has largely been self-funded until now and this is the first major investment the company has taken on.

“Our partnership with Flexpoint marks a significant milestone for our company and their expertise will be instrumental as we continue to scale our operations and find new ways to serve our client’s evolving needs,” commented Jonathan Strauss, CEO of Create Music Group. “Flexpoint’s investment will also support our ambitious acquisition strategy which will allow us to expand our market presence and create the scale to continue to provide unparalleled services to our clients and partners.”

“We believe Jonathan and his team have set a new standard for the industry, challenging traditional music companies to rethink their strategies,” said Mike Morris, Managing Director at Flexpoint Ford. “By acting as a media company that offers comprehensive support to artists, including distribution, marketing, financial solutions and audience engagement, Create Music Group has created a blueprint for the future of music.”  Stephane Essama, Principal at Flexpoint Ford added, “We are pleased to have the opportunity to partner with the founders of Create and provide them with the capital that is needed to meet the enormous demand from their clients as the company continues to build a truly differentiated offering for artists and labels in the rapidly evolving music industry.”

Music industry veteran Charles Goldstuck also joined the funding round. The Raine Group acted as financial advisors to Create and Willkie Farr & Gallagher acted as legal counsel in connection with the transaction. Reed Smith acted as legal counsel to Flexpoint in connection with the transaction.

About Create Music Group
Established in 2015, Create Music Group is a rapidly growing music and entertainment company. The company operates as a record label, distribution company, and entertainment network which generates over 25 billion music streams each month on DSP’s. Named #2 on the Inc 5000 Fastest Growth Companies in America in 2020, the company has grown exponentially by leveraging its owned IP with its media and technology platform. The company works with superstar artists, major and independent record labels, and global media brands. It operates a number of companies including Label Engine, one of the largest independent music distribution platforms in the world, with over 75,000 artists and 5,000 label clients; and Flighthouse, a digital entertainment brand focused on Gen Z,  which has more than 300 million followers across social media. Create Music Group is based in Hollywood, CA and has more than 400 employees worldwide.

For more information, visit: https://createmusicgroup.com/

About Flexpoint Ford
Flexpoint Ford is a private equity investment firm that has approximately $8.2 billion of regulatory assets under management and specializes in privately negotiated investments in the financial services and healthcare industries. Since the firm’s formation in 2005, Flexpoint Ford has completed investments across a broad range of investment sizes, structures, and asset classes. Flexpoint Ford has offices in Chicago, Illinois, and New York, New York.

For more information, visit: www.flexpointford.com

SOURCE Create Music Group

Known for its package tracking and protection solutions, Route surpassed $100 million in revenue in 2023 and $15 billion in protected merchandise, solidifying its position as a foundational part of the ecommerce tech stack

LEHI, Utah, June 25, 2024 — Route, the leading post-purchase package tracking and protection solution, today announced a $40 million Series C funding round at a $1.4 billion valuation, cementing its position as a foundational part of the tech stack for global ecommerce brands. The round was led by Hanaco VC with participation from JAWS Ventures, Madrona Ventures, and Granger.

Route empowers more than 13,000 brands, including Alice + Olivia, BlendJet, Cult Gaia, Tom Ford, Daily Drills, LoveShackFancy, Solo Stove, and Wellbel, to offer powerful experiences like shipment tracking, package protection and carbon offsetting that engage and delight customers long after an online purchase is made. Overall, this strengthens a brand’s relationship with its audience, leading to increased loyalty, improved retention and new revenue streams, while reducing costs from common retail issues like shipping losses.

With demand for post-purchase solutions surging, Route achieved an impressive $100 million in revenue in 2023, and is on a clear path to profitability. Additionally, in June 2024, Route surpassed $15 billion in protected merchandise, underscoring the ecommerce unicorn’s market position and traction with retailers and their customers.

“Today’s consumers demand 24/7 visibility into everything they buy, putting retailers under pressure to meet their expectations. That’s why post-purchase experiences have become central to brands’ identities, because shoppers view them as table stakes,” said Michael Yamartino, CEO of Route. “Thousands of brands have turned to Route to deliver the same quality service that billion-dollar retailers provide. With our new funding, we’ll continue to expand our solutions that help brands boost customer lifetime value and satisfaction, while carving our own path to profitability.”

“This funding round represents a pivotal moment for Route as we continue to innovate and provide unparalleled solutions that reshape the ecommerce landscape,” Route’s co-founders Evan Walker and Mike Moreno said in a joint statement. “Our journey from a bold idea to a billion-dollar entity reflects our commitment to excellence and the trust placed in Route by both consumers and brands worldwide.”

For ecommerce customers, Route has become a ubiquitous part of the shopping experience: Across more than three million active users, Route shoppers are using the platform to track their shipments more than 10 times per month on average. Additionally, Route’s customer satisfaction score of 97% is best in class compared to the ecommerce industry benchmark of 80%. 

“Route is a unique combination of a strong, mature management team, rapid growth with a clear path to profitability, and unique market positioning,” said Lior Prosor, partner and co-founder of Hanaco VC. “We believe post-purchase is the ‘final frontier’ in the ecommerce stack that still has a lot of room for disruption as well as consolidation. The experience can be dramatically improved for both the merchant and, more importantly, the end consumer. Route is the market leader in this category.”

Route’s package protection is unique in that it is licensed, compliant and backed by a legitimate insurance policy, safeguarding merchants and their customers from risk. Fully compliant package protection ensures merchants don’t have to worry about the regulatory or financial risk of using an unlicensed provider or DIY software.

“Wellbel prioritizes sustainable growth and values trustworthy partnerships. With Route as our partner, we are confident that our business and community are consistently protected,” said Hattie Gilpin, Wellbel’s Director of Operations.

Financial Technology Partners (FT Partners) served as exclusive advisor on this transaction, helping Route to navigate a unique fundraising environment on the back of its impressive growth trajectory and runway.

About Route
Route is the leader in the post-purchase experience. From delivery to re-discovery, Route protects brands and their customers with licensed shipping insurance, fast issue resolution, package tracking, carbon neutral shipping, and remarketing. This helps brands increase revenue, reduce costs, and improve the customer experience—and gives customers the power and convenience of tracking everything they order in one place, with the confidence it will arrive safely. Route transforms negative experiences into positives, and positive experiences into repeat customers. Since launching in 2019, Route has built an ecommerce network of 13,000 brands and tracked more than $15 billion in protected merchandise. To learn more about Route’s post-purchase experience solutions, or to download the app, visit route.com. 

SOURCE Route

Sandy Schwartz to retire after nearly 40 years with the company 

ATLANTA, June 25, 2024 — Cox Enterprises has appointed Cody Partin to serve as the president of the Cox Family Office. Partin most recently served as SVP of Enterprise Security and Corporate Services for Cox Enterprises.  

Partin succeeds Sandy Schwartz, who has spent nearly 40 years with the company, serving in leadership roles across various Cox divisions and geographies. Schwartz will retire from Cox at the end of the year. 

“There’s no one more qualified than Cody to be the next leader of the Cox Family Office,” said Alex Taylor, chairman and CEO of Cox Enterprises. “Throughout his career, he has always been eager to accept new challenges, and he has earned the trust of senior leaders and Cox family members every step of the way. Cody has what it takes to ensure the needs of the Cox family are fully supported.”   

Partin joined Cox in 2009 and has been a major contributor to the company’s ongoing growth and development. Throughout his career he has continued to advance into roles of increasing responsibility. Before heading up enterprise security and corporate services, Partin oversaw the company’s employee benefits, executive compensation, talent management, inclusion and diversity, and human resources technology services. Under his purview, Cox implemented new programs and benefits that contributed to the company being consistently recognized as an employer of choice.  

Schwartz joined Cox in 1985. A journalist by trade, he began his career at a Cox-owned newspaper in Phoenix and over the years has held a series of roles that have helped grow and define Cox as a company. Before leading the Cox Family Office, he was president and CEO of Cox Automotive, where he led the expansion of its product and services portfolio, united its auto brands under one umbrella, and led the $4 billion acquisition of Dealertrack and Dealer.com, the largest third-party transaction in Cox’s history. He previously served as president of Cox Media Group where he spearheaded the digitization of Cox newspapers. 

“Sandy has helped lead our company through some of our biggest moments,” said Taylor. “During his nearly 40 years at Cox, he modernized and grew our businesses, negotiated some of our most notable deals, and was the driving force behind many achievements. He’s been a mentor to so many people and represents the very best of our people-first culture. He will be greatly missed as head of the family office, but he will continue collaborating with me on certain strategic projects in the future.”  

About Cox Enterprises    
Cox Enterprises is dedicated to empowering people to build a better future for the next generation. Cox is a leader in the broadband, automotive and media industries, as well as a leading investment platform with strategic positions in emerging technologies driving the future of sustainable agriculture, renewable energy, healthtech, and public sector software. Headquartered in Atlanta, Georgia, Cox is a global company with $23 billion in annual revenues and a proud 126-year history. To learn more about Cox and its commitment to its people, planet and communities, visit coxenterprises.com.  

SOURCE Cox Enterprises

The company’s latest $53M raise will help further its mission of empowering everyone to live 100 healthy years

AUSTIN, Texas, June 25, 2024 — Function‘s first-of-its-kind platform revolutionizes how people manage their lifelong health, starting with providing the deepest possible understanding of their body and what they should do to improve their health. With a mission to empower everyone to live 100 healthy years, Function is the first company to provide access to 100+ lab tests at a single cost of $499 per year – equivalent to $42 per month or $1.37 per day. The extensive assessment includes five times more lab testing than a typical physical exam, including heart, hormones, thyroid, nutrients, cancer signals, immunity, aging factors, autoimmunity, and more. Results are displayed in a digestible dashboard, complete with a detailed summary from a clinician.

Today, Function has announced the close of its Series A round led by Andreessen Horowitz (a16z) Bio + Health with support from the a16z Cultural Leadership Fund, bringing its total funds to $53 million. Additional investors include Wisdom.vc, Draft Ventures, K5, G9 Ventures, 53 Stations, Matt Damon (Actor), Ari Emanuel (CEO of Endeavor), Kevin Hart (Comedian & actor), Joel Embiid’s (NBA’s 2023 MVP) Embiid Ventures, Jay Shetty (award-winning podcast host), Blake Griffin (former NBA), Zac Efron (Actor), Jimmy Rollins (former MLB), Colin Kaepernick (former NFL), Dr. Casey Means, Pedro Pascal (Actor), Ara Katz (Co-founder of Seed), Harvey Spevak (Equinox Chairman), Harpreet Singh Rai (Former CEO of Oura), Jeff Dean, and others.

“We’re proud to partner with Function Health, a company that has already transformed many thousands of lives,” said Vijay Pande, PhD., Founding General Partner, a16z Bio + Health. “Function is reinventing healthcare with speed and scale. Their clear and novel approach to preventing suffering and avoidable deaths is setting a new standard for global health.”

“As an athlete who has spent most of my life and career focused on optimizing my health and performance, I connected deeply with Function’s vision for healthcare. Making personal health data widely accessible, affordable, and easy to understand is a game-changer for everyone to take a proactive approach to improving their health and preventing disease. I am thrilled to be part of the team’s journey and support their mission,” said Blake Griffin, former NBA player.

The new capital validates Function’s paradigm-shifting approach and will be used to rapidly scale its technology, increasing access to whole-body testing and empowering more people to take control of their health. Since its beta release in April 2023, Function has become the fastest-growing health platform in America, with nearly 50,000 paying members and a waitlist of over 200,000 people. It also recently established a strategic partnership with leading fitness company Equinox, integrating its platform with a robust network of trainers to enhance the wellness experience.

“Function is the first with a mission of empowering you to live 100 healthy years. We’re introducing a revolutionary approach to lifelong health, starting with the most comprehensive lab testing to help you understand what’s actually happening inside your body and what to do to stay ahead of disease and feel your best,” said Function co-founder and CEO Jonathan Swerdlin. “Function isn’t just a company; it’s a movement of people of all ages taking control of their health. We’re at a historical juncture where technology and culture are converging to redefine our relationship with our own biology. This moment sets the stage for a future where the latest research and innovation seamlessly integrate into our lives in service of less suffering and more years. The possibilities are boundless. This is about health, not healthcare, happening outside traditional systems, yet supported by the world’s top doctors and experts.”

After experiencing the shortcomings of traditional healthcare, the founding team at Function, including Mark Hyman MD, Pranitha Patil, Jonathan Swerdlin, Mike Nemke, Seth Weisfeld, and Daniel Swerdlin, engineered a first-of-its-kind approach that focuses on prevention and empowerment. For decades, our health system has prioritized outdated processes and profits, with people only visiting primary care doctors for routine annual check-ups or on a reactive basis after experiencing symptoms. This, along with corrupted food systems, has led to a spike in chronic disease, devastating health disparities, escalating cancer rates, and common misdiagnoses from an overburdened health system. Function breaks away from these norms by removing barriers around extensive lab testing and providing comprehensive, actionable insights from top doctors and thousands of hours of research. This transition from reactive to proactive is historical and reflects a surging demand for health over healthcare.

For more information on Function, visit https://www.functionhealth.com/.

ABOUT FUNCTION HEALTH
Function is the first health platform to include 100+ lab tests, helping individuals understand their whole body—from heart and hormones to thyroid, nutrients, toxins, autoimmunity, immunity, and beyond. Unlike traditional testing, which is often costly, inaccessible, and done reactively, Function offers these 100+ lab tests along with detailed and actionable insights from the world’s top doctors at just $499 per year, with no hidden costs, surprise bills, or insurance involved. This is five times more lab testing than most primary care providers, which typically includes a rough average of 19 lab tests, missing critical parts of your health. All results and insights are continuously tracked and securely stored in Function’s platform, allowing individuals to uncover trends and watch health transformations over time. Since launching in beta in 2023, Function has amassed nearly 50,000 members, and 200,000+ people have joined the waitlist. For more information, visit www.functionhealth.com.

SOURCE Function Health

The Chainsmokers’ Mantis VC, Executives from Tinder and Shutterstock Double Down as Social Commerce App Debuts New Features and Framework to Protect and Empower Creators and Consumers

MIAMI, June 25, 2024 — SLUSHY, a creator monetization platform purpose-built to help creators grow their community and consumers to form authentic connections, has closed $10.2 million in seed funding. The company is the first venture-backed adult content platform in history, garnering investment thanks to its differentiated approach to adult content that combines an innovative tech stack with robust moderation, security, and compliance.

The round comprises new and return investments from pre-eminent VCs specialized in high-growth technology startups. Mantis VC (GRAMMY Award-winning duo The Chainsmokers), Electric Feel Ventures, Jon Oringer (Former CEO of Shutterstock), and Sean Rad (Co-Founder and former CEO of Tinder, Inc.) returned to participate. The new investment comes from high-profile angels, including Edison Chen (Founder and CEO of Clapper) and Brooklyn Johnny (music entrepreneur and six-time GRAMMY winner, founder of District 18 Entertainment, and manager to Cardi B).

“Creators need discoverability and promotion. Consumers need intimacy and connection,” says CEO David Gross. “We merge best-in-class commerce and social tools for creators to connect with and monetize their audiences directly while helping users discover their new favorite content. These funds will advance the growth and development of SLUSHY on the heels of year-over-year platform success.”

Founded in 2020 by David Gross and Fred Spivock, this raise validates SLUSHY’s unique promise in today’s digital landscape to empower and safeguard creators while crafting a personalized user experience through sophisticated AI discovery tools for direct creator-consumer interaction. The fresh capital will support developing new features, onboarding additional creators, and expanding into new target markets, including South America.

“From predatory business models for creators to a lack of guardrails and identify verification for users, adult content platforms have proven too risky to investors for the last decade,” said Austin Rosen, General Partner at Electric Feel Ventures. “SLUSHY’s status as the first venture-backed content platform is a testament to the company’s sustainable payout structure for creators and emphasis on compliance and regulation. We are thrilled to recommit to the platform’s continued growth.”

SLUSHY had a massive Q1 2024, reaching 1 million users and growing its creator base by 40% to 10,000. The rapid, continued growth can be attributed to the platform’s ability to foster quality content from established and undiscovered talent and support creators with tools and insights to increase audience and revenue. While most adult content platforms cater to creators with a significant social media following, SLUSHY’s integrated suite of commerce and discovery tools allows creators without an existing online presence to gain followers and create a sustainable income.

SLUSHY has also integrated with AI-focused third-party apps STXT and Party Hat AI to support creators in constantly producing fresh content and connecting with their community. Creators can now develop hyperrealistic avatars and communicate through AI-based chatbots, driving personalized and engaging interactions while they focus on producing high-quality content. Through this partnership, macro creators, including Sierra Skye and adult film star Sophie Dee, have reached and engaged over 1M users with targeted interest/machine learning-based outreach.

For consumers, SLUSHY recently introduced Perfect Match, a new feature inspired by the swiping interface popularized by dating apps. Swipe right on desired creators to inform the content and creators that consumers will receive in their personalized SLUSHY content feed. To date, SLUSHY has seen more than 250,000 videos posted in-app, spanning adult and non-adult content.

“SLUSHY merges innovative technologies with exclusive content,” says Alex Pall, General Partner at Mantis VC. “The platform allows creators to get discovered without having a significant social following and iterates upon the proven success and familiar interface of today’s biggest platforms with short-form, swipe-through content powered by machine learning. There is no exclusive fan engagement content platform as technically sophisticated as SLUSHY in today’s market.”

To learn more about SLUSHY, its creators, and in-platform content, visit slushy.com.

About SLUSHY
SLUSHY is a social commerce platform built for creators who want unrivaled creative freedom and robust engagement tools. Its creator-first, tech-driven interface is designed with key discoverability features and audience insights to help consumers find their new favorite creators. SLUSHY incorporates a powerful legal framework – with advanced compliance tools, including simplified consent, ID verification, and content moderation. Built and backed by prominent C-suite leaders behind companies such as Tinder and Shutterstock, SLUSHY is the first-ever venture-backed adult content platform. To learn more about SLUSHY, visit slushy.com.

Media Contact
Factory PR
[email protected]

SOURCE SLUSHY

The early-stage climatetech fund will make quarterly donations to the incubator

SOMERVILLE, Mass. and HOUSTON, June 25, 2024 — Greentown Labs, the largest climatetech incubator in North America, and Prithvi Ventures, an early-stage climatetech investment fund, today announced a first-of-its-kind partnership in the spirit of accelerating climate impact and filling a capital gap among climate startup support organizations.

Effective immediately, Prithvi Ventures will donate a percentage of proceeds received from its Fund 1 and Fund 2 to Greentown on a quarterly basis, in perpetuity. A longtime member of Greentown and an engaged investor within the incubator’s startup community, Prithvi Ventures has invested in multiple Greentown member companies including Carbon Upcycling, Mars Materials, Nth Cycle, and Rheom Materials.

“There’s an understanding in sports that the best teams always take responsibility and accountability for their own and look out for each other—that the members of the team are a reflection of the franchise,” said Kunal Sethi, Founder and General Partner at Prithvi Ventures. “I have always believed the same to be true in venture, too. Founders should know their supporters, team, and cap tables inside and out. It matters who you surround yourself with and Greentown Labs is always the first name that comes up for me. Every founder in climatetech should work with them or they’re missing out on so much.”

Prithvi Ventures invests in bold founders who are fearless in writing their own playbook to protect our Pṛthvī (“earth” in Sanskrit) and make money. They love rolling up their sleeves and working directly with their founders. They invest in boring problems with interesting solutions taking a monopolistic approach to achieve-net zero goals. Through their investments, they support groundbreaking technologies that reduce emissions. With a legacy of more than 30 investments, they’re now deploying capital from their second fund and prefer being the first large check in the startup to lead rounds.

“We are delighted to deepen our relationship with Prithvi Ventures and are grateful for their ongoing support,” said Aisling Carlson, Senior Vice President of Partnerships at Greentown Labs. “Through this new partnership, Prithvi Ventures and its limited partners are setting an example for how the venture community can more directly support the incubators and accelerators working to catalyze climatetech innovation and entrepreneurship.”

Greentown is a 501(c)(3) nonprofit accelerating climatetech innovation and commercialization by empowering entrepreneurs and enabling collaboration. As an organization founded by entrepreneurs, for entrepreneurs, Greentown does not take equity in its startups. Rather, it strives to provide its startups with the community, connections, and resources they need to thrive. With incubators in Somerville, Mass. and Houston, Texas, Greentown is home to more than 200 startups and has a robust network of more than 85 corporate partners.

About Prithvi Ventures

Prithvi Ventures invests in early-stage startups that fight climate change by reducing greenhouse gas emissions. They invest in boring problems with interesting solutions taking a monopolistic approach to achieve the net-zero goals. Based in New York, N.Y., the fund has made more than 30 investments and is now deploying capital from its second fund.

About Greentown Labs

Greentown Labs is a 501(c)(3) nonprofit accelerating climatetech innovation and commercialization by empowering entrepreneurs and enabling collaboration. As the largest climatetech startup incubator in North America—with locations in Somerville, Mass. and Houston, Texas—Greentown convenes the climatetech ecosystem to provide entrepreneurs the community, connections, and resources they need to thrive. Greentown is home to more than 200 startups and has supported more than 500 since its founding in 2011; these startups have collectively created more than 11,000 jobs and raised more than $5.7 billion in funding. For more information, visit www.greentownlabs.com or follow Greentown on LinkedIn.

Greentown Media Contact
Julia Travaglini
Senior Vice President of Marketing & Communications
[email protected]

SOURCE Greentown Labs

k-ID is a cross-platform, instant sign-on solution for kids and teens built as an all-in-one answer for solving the complex issue of privacy and online safety worldwide.

This latest of three funding rounds in less than nine months comes as a result of unprecedented traction from major publishers.

SINGAPORE, June 25, 2024 — Today, k-ID, a first-of-its-kind global compliance engine that simplifies online safety and privacy management for game developers, parents, kids, and teens, announced a $45 million Series A funding round. Backed by some of the world’s most sought-after investors, the Series A round comes from Andreessen Horowitz (a16z) and Lightspeed Venture Partners, with major support from Konvoy, TIRTA, the world’s leading identity management platform Okta, and Z Venture Capital from the Japanese tech leader LY Corporation. This brings the total funding raised to date to $51M.

In addition to its substantial Series A, k-ID was recently selected as a World Economic Forum Technology Pioneer for 2024, joining the ranks of esteemed alumni, including early-stage Google and Airbnb. Only 100 companies make the WEF Technology Pioneers cohort each year based on their potential to transform industries and society.

Game publishers integrating k-ID represent games and online experiences played by hundreds of millions of kids and teens each day around the world, including popular experiences from some of the world’s largest public and private gaming companies.

“The time for change is now—today, the world demands safer, more empowered online experiences for youth,” said Kieran Donovan, co-founder and CEO of k-ID, whose own childhood trauma was the motivation for k-ID. “The groundswell of support from across the industry has been phenomenal. We are excited to accelerate our mission to bring privacy-preserving, youth-first technology that delivers on the societal imperative of empowering the next generation.”

Furthering its affiliation and support within the industry, k-ID also announced today a partnership with the ESRB Privacy Certified program. k-ID has configured its parent/family and developer portals to reflect the program’s COPPA-based requirements. This partnership offers game publishers a way to leverage k-ID technology to help obtain the ESRB Privacy Certified Kids Seal.

Founded by Kieran Donovan, Timothy Ma, Julian Corbett and Jeff Wu, with a mission centered on youth empowerment, the k-ID team hails from the likes of Meta, Tencent, Google, Take-Two, EA, with deep expertise in games, legal compliance and trust and safety. The company, which emerged from stealth in March 2024, is rapidly establishing itself as one of the most promising and fastest-growing start-ups in the world.

INVESTOR PERSPECTIVES

“Kids today make friends and countless memories inside games and virtual worlds, and parents need modern tools to keep them safe,” said Jonathan Lai, General Partner at a16z. “k-ID is serving this need and defining a new industry standard for digital youth safety. We first invested in k-ID at the pre-seed through SPEEDRUN, and we’re thrilled to continue supporting them as they make digital communities safer for kids and parents.”

“It’s rare to find this combination of unique founder-market fit, societal impact, and—most impressively—commercial traction,” said Moritz Baier-Lentz, Partner and Head of Gaming & Interactive Media at Lightspeed, who is joining the company’s board of directors. “Clearly, k-ID is solving a massive challenge for publishers, parents, teens, and kids worldwide. Embarking on this partnership during my parental leave only made it more meaningful.”

“There are over 2 billion people aged 18 and under, and their increasingly expansive digital identity needs to be secure,” said Austin Arensberg, Senior Director, Okta Ventures. “Kids have unique authentication and authorization requirements, and k-ID has a robust and novel approach to ensuring safe online digital access to games and other digital assets. We are incredibly impressed by the team and excited for what lies ahead.”

“Publishers are navigating new challenges with growing their user base under the age of 18 and complicated global compliance standards. We believe k-ID’s innovative solutions will streamline the challenges posed by the ever-changing regulatory landscape and pave the way for a safer online environment for our kids and teens,” said Hyung Kim from Z Venture Capital, Corporate Venture Arm of LY corporation (a merged entity of LINE and Yahoo Japan).

Pioneering new thinking around kids and online gaming, k-ID will attend the prestigious Summer Davos (the 15th World Economic Forum Annual Meeting ) in China and speak at the Games for Change Festival (the premier event for social impact gaming) in New York – both taking place at the end of June.  

For more information and assets, click here.

ABOUT

k-ID

k-ID is a cross-platform, instant sign-on solution for kids and teens built as an all-in-one answer for solving the complex issue of privacy and online safety for young players on a global scale. Founded by internationally recognized experts and leaders in online safety, privacy, and gaming, k-ID also leverages insights from current and former regulators to maintain the world’s most dynamic youth compliance platform for game developers. k-ID allows kids and teens to access enriching, age-appropriate experiences while providing parents peace of mind. For more information, visit www.k-id.com.

Andreessen Horowitz

Andreessen Horowitz (aka a16z) is a venture capital firm that backs bold entrepreneurs building the future through technology. We are stage agnostic. We invest in seed to venture to growth-stage technology companies, across AI, bio + healthcare, consumer, crypto, enterprise, fintech, games, infrastructure, and companies building toward American dynamism. a16z has $42B in assets under management across multiple funds. Learn more at a16z.com/games.

Lightspeed Venture Partners

Lightspeed is a globally leading venture capital firm across the U.S., Europe, and Asia, with over $29 billion under management. Over the past 20 years, Lightspeed has partnered with hundreds of exceptional entrepreneurs and helped build companies to achieve 200+ IPOs and acquisitions. In 2023, Lightspeed was ranked #1 gaming lead investor by deal volume.

With its dedicated gaming & interactive media practice, the firm invests from an over $6.5 billion pool of early and growth-stage capital—by far the largest set of funds in the sector. Lightspeed’s team combines deep gaming, consumer, and enterprise technology expertise with a global multistage investment platform and a culture that truly puts founders first. Focus areas are game studios (PC, console, mobile), interactive media platforms (social, UGC, distribution, streaming), and related technologies (AI/ML, 3D, engines, game development, AR/VR). For more information, visit gaming.lsvp.com.

Okta

Okta is the World’s Identity Company. As the leading independent Identity partner, we free everyone to safely use any technology—anywhere, on any device or app. The most trusted brands trust Okta to enable secure access, authentication, and automation. With flexibility and neutrality at the core of our Okta Workforce Identity and Customer Identity Clouds, business leaders and developers can focus on innovation and accelerate digital transformation, thanks to customizable solutions and more than 7,000 pre-built integrations. We’re building a world where Identity belongs to you. Learn more at okta.com.

Z Venture Capital

Z Venture Capital serves as the corporate venture capital arm of LY Corporation(an integrated entity of Z Holdings/LINE/Yahoo Japan, etc.), supporting startups with global potential. ZVC is the succeeding company of YJ Capital Inc., which was established in August 2012, following its merger with LINE Ventures Corporation in April 2021.

ESRB Privacy Certified

ESRB Privacy Certified, a division of the non-profit Entertainment Software Rating Board, is an experienced, full-service, privacy certification and compliance program. It helps its members, mostly companies in the video game and toy industries, adopt and implement lawful, responsible, and transparent privacy practices. ESRB serves as one of six Federal Trade Commission-authorized Safe Harbor programs under the U.S. Children’s Online Privacy Protection Act (COPPA). Learn more at https://www.esrb.org/privacy/.

SOURCE k-ID