New funding allows Gloo to accelerate platform development and AI advancement while expanding focus to include Gloo Ventures.

BOULDER, Colo., July 31, 2024 — Gloo, the leading technology platform dedicated to connecting the faith ecosystem and releasing its collective might, announced the completion of a $110 million financing. The new financing will accelerate development of the Gloo platform—which includes free and premium ministry tools and marketplace offerings—while funneling new investment capital toward ministry-based technology, products, and services.

“So often faith-aligned capital leaves the faith ecosystem,” said Scott Beck, Gloo CEO and co-founder. “That means ministries that need the goods, services, and capital to fuel their growth don’t have access to essential resources. Our goal with this investment round, funded by 100% mission-aligned investors, is to reinvest the capital back into the ecosystem in the form of capital investments and continued development of our growing platform that connects the faith community at scale.”

The investment aligns with plans to expand the Discover marketplace on Gloo, which offers the faith community a comprehensive range of free and premium products and services that meet the specific and ongoing needs of ministry leaders.

“Gloo is accelerating our investment in marketplace motions to create uniquely curated experiences tailored to the faith ecosystem,” said John Fowle, chief financial officer at Gloo. “Investing in a marketplace is not just about enhancing our platform; it’s about empowering our users with the tools and resources they need to make a positive impact in their communities.”

The company is planning further investments to accelerate AI specifically tailored to the faith ecosystem. With a potential AI market size reaching into the trillions within the next decade, Gloo recognizes the growing need faith leaders will have to leverage the technology responsibly. Through its AI & the Church Initiative, upcoming AI hackathon, and other ventures, Gloo has become a leading voice in responsible and innovative use of AI for the faith ecosystem.

Earlier this year, Gloo launched a new division, Gloo Ventures, focused on investments in and acquisitions of organizations that bring value to the faith community. The division will include investments in AI-based tools to help church leaders responsibly leverage the technology.

“It’s clear to us that the faith community is seeking greater connection,” said Beck. “The Gloo platform is already enabling those connections in a variety of ways including enabling over 25MM text-based ministry interactions, connecting over 400K people in need to local ministries and resources, and enabling the exchange of value between thousands of ministry equipping partners and over 70K Gloo churches. No single person, ministry, or church could do this on their own. We’re seeing silos breaking down and collective might at work.”

Gloo closed the latest funding round in the first half of 2024, which included investments from a diverse group of mission-aligned partners including a leading partner in small group content, a major global child development ministry, a major denominational provider of financial services and one of the largest providers of church building and development loans. The approach aligns with Beck’s long-term vision that mission-aligned partners, and ultimately the big C Church, would be significant owners in the platform.

“We choose our investors carefully,” Beck said. “Finding close missional alignment, driving great financial outcomes, and guarding against mission drift are key drivers for us. Ultimately, our commitment is to connect the faith community, so every ministry can achieve its mission,” said Beck, “We’re committed. We’re resourced. And we’ve never been in a better position to achieve this goal.”

Gloo is the trusted tech platform that releases the collective might of the faith ecosystem. Gloo connects ministry leaders to resources, people, data and insights and funding so their people and communities flourish and their organizations thrive. Gloo does this with the highest standards of trust and scalable economic models. Gloo serves over 70,000 churches and over 1,000 resource partners.

SOURCE Gloo

Company also Named as XPRIZE Carbon Removal Finalist and DOE CO2 Removal Purchase Pilot Prize Semifinalist

HOUSTON, July 31, 2024 — Applied Carbon, a technology company designing automated biochar production machines that convert in-field agricultural crop waste into biochar, today announced it has raised a $21.5 million Series A. The funding round was led by TO VC, with participation from Congruent Ventures, Grantham Foundation, Microsoft Climate Innovation Fund, S2G Ventures, Overture.vc, Wireframe Ventures, Autodesk Foundation, Anglo American, Susquehanna Foundation, US Endowment for Forestry and Communities, TELUS Pollinator Fund for Good, and Elemental Excelerator. The funding will be used to deploy a fleet of biochar machines across Texas, Oklahoma, Arkansas, and Louisiana, delivering high durability carbon removal and agricultural services. The company was also recently named as a top-20 global finalist in the XPRIZE Carbon Removal competition and as a semifinalist in the Department of Energy’s (DOE) CO2 Removal Purchase Pilot Prize.

Applied Carbon, formerly known as Climate Robotics, has developed a mobile, in-field solution that picks up agricultural crop residue left after harvesting and converts it into biochar in a single pass. The resulting biochar product is deposited back onto the field, simultaneously increasing soil health, improving agronomic productivity, reducing lime and fertilizer requirements, and providing a durable carbon removal and storage solution.

“Multiple independent studies indicate that converting crop waste into biochar has the potential to remove gigatons of CO2 from the atmosphere each year, while creating trillions of dollars in value for the world’s farmers,” said Jason Aramburu, co-founder and CEO of Applied Carbon. “However, there is no commercially available technology to convert these wastes at low cost. Applied Carbon’s patented in-field biochar production system is the first solution that can convert crop waste into biochar at a scale and a cost that makes sense for broad acre farming.”

Applied Carbon’s technology utilizes a high-tech, fully self-contained trailer pulled behind a tractor that collects crop residue, processes it into biochar via high temperature pyrolysis before quenching it with water and supplementing it with nutrients and microbes as desired by the farmer. The final biochar product exits the machine and is spread directly onto the field, eliminating bulk material transport and drastically reducing its cost per ton. The machine can also operate in an efficient edge-of-field configuration for added flexibility to address diverse crop wastes all year long.

“We’ve been looking at the biochar sector for over a decade and Applied Carbon’s in-field proposition is incredibly compelling,” said Joshua Posamentier, co-founder and managing partner of Congruent Ventures. “The two most exciting things about this approach are that it profitably swings the agricultural sector from carbon positive to carbon negative and that it can get to world-scale impact, on a meaningful timeline, while saving farmers money.”

In addition to the agricultural benefits, the biochar produced by Applied Carbon’s technology represents an immense carbon removal opportunity. Research indicates that carbon removed via biochar is one of the safest and most permanent atmospheric carbon removal methods currently available. In 2023, over 90% of the durable carbon removal sold to commercial buyers came from biochar, a trend that is expected to continue. Applied Carbon’s biochar technology, coupled with the company’s precision automation and data monitoring system, offers best-in-class carbon removal monitoring, reporting, and verification (MRV), qualities that are critical for transparent engagement with large-scale carbon removal buyers.

“Up to one-third of excess CO2 that has accumulated in the atmosphere since the start of human civilization has come from humans disturbing soil through agriculture,” said Joshua Phitoussi, co-founder and managing partner at TO VC. “To reach our net-zero objectives, we need to put that carbon back where it belongs. Biochar is unique in its potential to do so at a permanence and price point that are conducive to mass-scale adoption of carbon dioxide removal solutions, while also leaving farmers and consumers better off thanks to better soil health and nutrition. Thanks to its technology and business model, Applied Carbon is the only company that turns that potential into reality.”

Before rebranding from Climate Robotics to Applied Carbon in June to better align with the operational motivation of the company, the company was named as a top 20 finalist in XPRIZE’s four-year, $100 million global Carbon Removal Competition. Additionally, the company was named a semi-finalist and awarded $50k to scale its CO2 removal solution through the Department of Energy’s Carbon Dioxide Removal Purchase Pilot Prize program in May.

About Applied Carbon
Applied Carbon is scaling groundbreaking technologies that regenerate soils and sequester atmospheric carbon for the betterment of people and planet. Developed by a team of earth scientists, roboticists, AI researchers, agriculturalists, and industrial manufacturing experts, the company’s mobile technology leverages natural thermal processes and precision automation to convert field wastes into stable carbon that builds soil health and stays out of the atmosphere permanently, thereby keeping carbon where it matters most. For more information, visit www.appliedcarbon.com.

About TO VC
TO VC backs vital teams tackling the world’s most pressing challenges. As an early-stage decarbonization venture capital fund, TO VC invests in groundbreaking climate tech companies focused on transforming food systems, energy systems, and pioneering carbon removal solutions. TO VC believes these areas are the key to achieving net-zero greenhouse gas emissions by 2050 and restoring harmony between humanity and the planet. TO VC is steadfast in its conviction that tomorrow’s giants will be climate innovators and that the most compelling companies today are those dedicated to combating climate change. Discover more at to.vc.

Business Contact:
[email protected]

Media Contact:
Chris Allieri
[email protected]

SOURCE Applied Carbon

New round, led by Generation Investment Management, Values the Company at $3.3 Billion

NEW YORK, July 31, 2024 — Spring Health, the leading global mental health solution for employers and health plans, today announced a Series E funding round of $100 million with a valuation of $3.3 billion. Generation Investment Management led the round with participation from existing investors, including Kinnevik, William K Warren Foundation, RRE and Northzone.

Founded eight years ago to address the urgent global mental health crisis, Spring Health’s employer benefit has grown to cover more than 10 million lives through 450 directly contracted employers, strategic payer relationships, and 27,000 groups that access the solution through a channel partner. Spring Health leverages artificial intelligence to empower its more than 10,000 care providers and to help members get the care they need faster.

Spring Health works with global brands like Microsoft, Target, J.P. Morgan Chase and Delta Airlines to deliver best-in-class outcomes for employees and a net positive ROI for employers. Last year, the company became the first and only company in its category to earn external validation of net savings for customers.

“Spring Health started as an academic research project that sought to prove technology could help caregivers get people healthier faster. Our continued growth trajectory means more people are getting the care they need and this new funding allows us to double down on our strengths, increase access, scale our impact, and continue to deliver even greater ROI to employers,” said April Koh, co-founder and CEO of Spring Health. “I am grateful to our investors for their continued support and to welcome a new partner in Generation, an organization that believes expanding access to mental health will influence global and generational change in human behavior. By providing world-class mental healthcare and decreasing overall employer spend on healthcare, we believe we’re on track to build one of the world’s most valuable companies.”

The core of Spring Health’s offering, Precision Mental Healthcare, reduces the traditional trial-and-error method of treatment. This clinically-validated method analyzes a vast range of data, including a patient’s specific symptoms, alongside socio-demographic information and other key factors. Spring Health’s unique approach significantly reduces the average time for a patient to match with a caregiver, as well as the time from first appointment to successful treatment and recovery. 

“In recent years, there has been some improvement in how we address mental health, yet the critical challenges of access, affordability and effectiveness remain,” said Anthony Woolf, Growth Equity Partner at Generation Investment Management. “Spring Health has scaled an incredibly effective network of mental health providers, capable of providing care to millions of people globally while aligning the needs of patients, providers, and employers. We’re proud to partner with the Spring team to create a more sustainable and equitable world.”

“Ever since leading Spring Health’s funding round in 2021, the company surpassed our expectations across all important metrics, launched several groundbreaking new products, and delivered industry leading clinical and financial results to clients,” commented Christian Scherrer, Senior Investment Director at Kinnevik. “We are proud to continue our full support for April, Adam and the Spring Health team as they set new standards in mental healthcare each day, across access, quality, data and automation.”

This announcement follows other significant innovations by Spring Health this year, including the expansion of their Global offering, the launch of Community Care, and the enhancement of SpringWorks, which supports employers to create cultures of mental health. Spring Health also recently became the first and only mental health solution to earn nationwide third-party accreditation for quality care and crisis programs.

For more information about Spring Health, visit www.springhealth.com. 

About Kinnevik
Kinnevik’s ambition is to be Europe’s leading listed growth investor. We back the best digital companies for a reimagined everyday and to deliver significant returns. We understand complex and fast-changing consumer behaviors, and have a strong and expanding portfolio in healthcare, software, marketplaces and climate tech. As a long-term investor, we strongly believe that investing in sustainable business models and diverse teams will bring the greatest returns for shareholders. We back our companies at every stage of their journey and invest in Europe and the US. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.

About Generation Investment Management
Generation Investment Management LLP is dedicated to long-term investing, integrated sustainability research and client alignment. It is an independent, private, owner-managed partnership established in 2004 and headquartered in London, with a US presence in San Francisco. Its vision is a sustainable world in which prosperity is shared broadly, in a society that achieves wellbeing for all, protects nature and preserves a habitable climate.

Generation’s Growth Equity strategy invests in companies with proven technology and commercial traction, run by talented mission-driven management teams. The strategy seeks to identify companies which will be on the right side of the structural social and economic changes that are already under way. Our shorthand for this is “system positive.”

For more information on Generation, please visit our website: https://www.generationim.com/ 

About Spring Health
Spring Health is the leading global behavioral health solution proven to change people’s lives and deliver net-positive financial return for organizations. Through Spring Health’s Precision Mental Healthcare, individuals and families connect with personalized interventions and compassionate, culturally-responsive mental health care. Certified by the Validation Institute for demonstrating net savings for customers, Spring Health equips global business leaders with the technology, insights and clinical expertise they need to support the mental health and well-being of their employees.

Today, more than 10 million people worldwide have access to Spring Health. We’re trusted by leading employers, health plans and channel partners, including Adobe, Bumble, Delta, General Mills, Highmark Health and Guardian, to drive cultural impact at scale. For more information, please visit https://www.springhealth.com.

Media contact: [email protected]

SOURCE Spring Health

TORONTO, July 31, 2024 — Layer2 Financial—the regulated payments infrastructure transforming cross-border payments—is thrilled to announce their $10.7 million Series A funding round. This round was led by Galaxy Ventures, with key participation from Accomplice. The new funding will accelerate Layer2’s mission to revolutionize the way money moves around the globe.

The announcement comes in the wake of incredible growth for Layer2. The company’s innovative approach to payment infrastructure utilizes both fiat and digital currencies to securely move billions of dollars annually, and has seen a consistent 20%+ month-over-month increase in transaction processing volumes as more businesses seek efficient, transparent, and compliant ways to issue payments across jurisdictions. Layer2 serves a diverse range of customers including non-bank financial institutions, traditional banks, neobanks, enterprise orgs, and other payments companies.

“This Series A funding is a significant milestone for Layer2, and for cross-border payments,” says Bhanu Kohli, CEO and Founder of Layer2 Financial. “Global payments infrastructure can finally match the speed of business by combining the transparency and immediacy of digital currency with the security of fiat — we’re thrilled to be leading this change.”

Layer2 Financial’s plans for the Series A funding include product development, market expansion, tech infrastructure, and the talent acquisition to ensure all of those aspects are best in class.

“Cross-border B2B payments are fundamentally complex, and Layer2’s approach to solving these challenges is groundbreaking,” adds Mike Giampapa, General Partner at Galaxy Ventures. “The evolution of the payments system, especially leveraging digital assets and stablecoins alongside fiat, presents a unique opportunity that we are very excited to be a part of — Layer2’s platform is uniquely positioned to disrupt the traditional payments ecosystem, making international money movement faster, more transparent, and cost-effective.”

Layer2 Financial is distinguished in the market by its ability to support a wide range of use cases as a single-source provider. The company’s extensive partner network includes financial institutions and payment processors, enabling them to tackle the complexities of global, cross-border payments. This includes international support in multiple currencies, high-capacity transaction processing, configurable virtual account naming conventions, third-party payments, and tokenized payments, conversions, and exchanges.

As Layer2 continues to grow, expect more announcements about new partnerships, customers, and company milestones.

About Layer2 Financial 

Layer2 is a global, regulated payments infrastructure that makes cross-border money movement fast, simple, and secure. Our multi-partner platform is designed to provide businesses with compliant payments for multiple currencies. With just one API, you can provide Collections, Pay Outs, FX and more.

For media inquires
Ryan Miller, CRO
[email protected]

SOURCE Layer2 Financial

Excellus BlueCross BlueShield and Intermountain Ventures Collaborate with Rapidly Growing In-Home Care Provider

ROCHESTER, N.Y., July 31, 2024 — WellBe Senior Medical is pleased to announce that Excellus BlueCross BlueShield (“Excellus BCBS”) and Intermountain Ventures have both made strategic investments in the company. This comes following a lead investment made by CVS Health Ventures that was announced in January of 2024.

“The significance of these investments from two impressive entities further validates WellBe’s commitment to be a payor-agnostic, in-home, full-risk medical group,” said Dr. Jeffrey Kang, CEO of WellBe Senior Medical.

Excellus BCBS’ investment in WellBe follows a recent partnership announced in March 2024. WellBe will bring care directly to the homes of 30,000 of Excellus BCBS’ most vulnerable Medicare Advantage members in upstate New York.

“Our collaborations with WellBe supports the health plan’s goals around improving health outcomes and addressing the affordability of health care,” said Jim Reed, president and CEO of Excellus BCBS.

WellBe was founded in 2019 and is the largest and fastest-growing, independent provider of in-home medical care in the country. The organization currently cares for more than 130,000 lives across eight states.

About WellBe Senior Medical
WellBe Senior Medical and its affiliated medical groups are the nation’s largest and fastest-growing independent providers of home-based medical care. WellBe specializes in delivering comprehensive, home-based medical care to patients who are facing multiple complex health challenges. WellBe provides personalized care and works together with patients, their caregivers, and other network physicians to nurture all aspects of health.

SOURCE WellBe Senior Medical

LIMASSOL, Cyprus, July 31, 2024 — SDV (Social Discovery Ventures), a European-based private investment company, celebrates a significant milestone with two unicorns in its investment portfolio, showcasing SDV’s commitment to identifying and nurturing high-potential startups. Flo Health, the #1 downloaded women’s health app worldwide¹, recently announced that it has raised more than $200 million in a Series C investment from General Atlantic, propelling Flo’s valuation beyond $1 billion. SDV initially invested $1 million in Flo’s Series A round in 2018 and has continued to support the app’s growth, bringing the total investment to nearly $2 million. Additionally, early on SDV invested $500,000 in Patreon, a leading platform for creators and in 2021 it earned unicorn status.

“We are so proud of our portfolio companies’ success,” said Valentina Zakirova, SDV Chief of Venture Investments. “We are committed to supporting visionary founders and their groundbreaking ideas, strategically investing in startups that have the potential to disrupt industries and make a global impact. Our growing portfolio of unicorns is a clear indication of our investment philosophy and the effectiveness of our approach.”

SDV makes fund-of-funds investments with a portfolio of funds like NEA, Khosla Ventures, DCM, Bling VC, Bain, Lakestar, DN Capital, Mangrove and direct investments including Flo, Patreon, Woebot, and AFG. The SDV portfolio encompasses a diverse range of investments, including VC and Private Equity, M&A, real estate, and publicly traded assets. The company’s commitments into Private Equity and Venture Capital are strategically focused on transformative sectors such as Social Discovery, Mental Health, and Longevity. SDV actively participates in companies from seed stage to pre-IPO.

“We aim to be the preferred partner for VC, PE, and public market funds,” said Alex Plesakov, CEO of SDV. “With two unicorns in our portfolio, SDV has established itself as a leader, known for our exceptional profitability, long-term vision, and strategic investment approach.”

For more information about SDV and our investment portfolio, please visit www.sdventures.ai.

ABOUT SDV
Founded in 2013, SDV is a global investment management company with a diverse portfolio and a team of dedicated investment professionals. SDV is committed to investing in technology that promotes social discovery, meaningful connections, mental well-being, and longevity. By pioneering in the field of artificial intelligence and digital reality, SDV strives to enable a future where humans and artificial beings coexist and interact in harmony.

Media Contact:
Robin Shallow, [email protected]  US: +1-914-841-5572

¹ By total downloads worldwide, Google Play and AppStore, SensorTower, (as of 7/17/2024)

SOURCE SDV

BENTONVILLE, Ark., July 31, 2024 — SymBiosis and HealthTech Arkansas have partnered to launch the biophyle Trial Accelerator, a program designed to elevate healthcare innovations in Arkansas by connecting accomplished, clinical-stage biotherapeutic innovations to Arkansas healthcare providers through clinical trial opportunities or commercialization training programs.

Applications for the 2024 cohorts are now open. The program offers two tracks: Track 1 is for clinical-stage companies with at least one novel biotherapeutic asset in the oncology, immunology, or cardiometabolic space and Track 2 is for Arkansas-based life science researchers interested in learning how to move their research towards commercialization.

Applicants for Track 1 will undergo an initial screening by SymBiosis and HealthTech Arkansas. An advisory board comprised of subject matter experts will review each company’s application, with all applicants receiving detailed feedback as to perceived investibility and fit for the program. Applicants will also be screened by clinical trial sites in Arkansas, and when there’s mutual interest in conducting a clinical trial, companies will be admitted to the program on a rolling basis.

“Our vision for this program is to create a collaborative environment where clinical-stage companies and local researchers can work together to bring innovative treatments to market,” said Chidozie Ugwumba, Managing Partner at SymBiosis.

The goal of the Track 2 program is to provide Arkansas-based researchers with additional knowledge, support, and network expansion to advance their research toward commercialization. This program offers a structured platform for delivering essential education, mentoring and grants access to an extensive network of professional service organizations, subject matter experts, and potential investors.

“Arkansas is fortunate to have talented, accomplished, and well-funded life science researchers in the state,” said Jeff Stinson, director at HealthTech Arkansas. “We look forward to bringing this innovative training curriculum to them in an effort to help them build their knowledge and networks and advance their innovations towards the market.”

The biophyle Trial Accelerator Program is supported by funding from the Arkansas Economic Development Commission through a program designed to increase acceleration activities in targeted industries in the state.

More information about both tracks of the biophyle Trial Accelerator can be found at biophyle.org.

ABOUT HEALTHTECH ARKANSAS
HealthTech Arkansas helps to drive innovation for healthcare provider organizations through its accelerator programs and through internal innovation programming. Its flagship accelerator, HeartX, recruits worldwide for the most accomplished cardiovascular-focused startups in the areas of digital health, medical devices, and diagnostic platforms. Those companies accepted into the program are guaranteed at least two pilot projects or clinical trials from among the ten largest hospitals and health systems in Arkansas. More information can be found at the HealthTech Arkansas website: https://www.healthtecharkansas.com/ 

ABOUT SYMBIOSIS CAPITAL MANAGEMENT, LLC
SymBiosis is an investment firm focused on advancing biotherapeutics innovations for serious and life-threatening diseases. The firm invests in groundbreaking medicines across disease area, financing stage, and geography, with a focus on programs in, or about to enter, human trials. SymBiosis currently manages a portfolio of more than 30 investments and has significant, long-term capital commitments to fund future investments. For more information, please visit www.symbiosis.vc or follow us on LinkedIn.

For more information, contact:

Arielle Amrein
(479) 378-6655
[email protected] 

SOURCE SymBiosis

Former Google and Coinbase leaders founded Icebreaker to redefine how professionals and companies discover exceptional people within their networks

NEW YORK, July 31, 2024 — Icebreaker, the world’s first open professional network, today announces its $5 million seed round, led by CoinFund. The funding will help grow Icebreaker’s world-class team and further its progress toward scaling the internet’s open, verifiable, and trusted professional network. The round also includes participation from Accomplice, Anagram, Legion Capital, and more than 30 founder angels.

Digital networking is increasingly saturated with AI-driven noise and fake personas. Icebreaker was created to empower professionals to seamlessly tap their existing profiles and networks to surface exceptional people and opportunities, using recent advancements in cryptographically verifiable identity.

With Icebreaker, anyone can instantly prove credentials about themselves, provide verifiable endorsements for others, and use this shared context to freely search the entirety of their network.  What emerges is an open graph of reputation and identity. This model strikes at the primary weakness of existing closed networks and gives professionals the ability to find top-tier candidates and opportunities wherever they may be online, based on shared context and trust.

“The world runs on trust,” said Icebreaker co-founder, Dan Stone. “Until now, it’s been impossible to see because our existing networks optimize for engagement over signal. Yet every leader knows the loudest or most followed person is rarely the best. Icebreaker lets you see who your close network trusts so you can cut through the noise to surface the talent and opportunities that are quiet, yet exceptional.”

As a co-creator of Google’s largest cross-identity measurement and marketing platform, Stone is a world expert building products at the intersection of data, privacy, and AI. In early 2021, he met co-founder Jack Dillé via pseudonymous forum discussing NFTs before the duo realized they both worked at Google. At the time, Dillé was working on YouTube and Google Shopping as a UX leader. Later that year, Dan and Jack both left Google to work full-time in crypto at Coinbase and SZNS, respectively, before leaving their roles in early 2023 to found Icebreaker.

At Icebreaker, Stone and Dillé are solving one of the digital age’s most complex and consequential problems: finding high-quality candidates and opportunities.

“Seeing people take full control and ownership of their network is really magical,” said co-founder Jack Dillé. “Existing platforms make it intentionally difficult to build and use our own connections, and often require us to pay just to navigate our own network. We have a core belief that data should be completely user-controlled, where people decide exactly what and how much they want to share with their connections, with no third-party intervention.”

Icebreaker piloted early iterations of the platform through engagements with other Web3 companies such as Coinbase, Opensea, and Polygon Labs, and at industry conferences like DevConnect in Istanbul and FarCon in Santa Monica. Last year, they debuted their first Passport program at Station3, a Web3 co-working space and innovation hub. The program has allowed founder Bob Loukas to track verified engagement with Station3 programming, whether the members are physically at the headquarters in downtown Manhattan, or checking in digitally from around the world.

“One of the next significant use cases for crypto is to develop foundational social graphs for applications to leverage, and we’re excited about the blueprint being created by Icebreaker for digital trust and identity on the internet. We are proud to back Dan, Jack and their team in their mission to introduce true ownership of professional identity to everyone online,” said Alex Felix, Chief Investment Officer, CoinFund.

With Icebreaker, anyone can create curated, high-context profiles based on one or more existing identities like LinkedIn, GitHub, X, or Farcaster by visiting icebreaker.xyz and logging in with email, Farcaster, or Ethereum Wallet. Professionals can signal their networking status, skill, work experience, professional highlights, and verified credentials, in addition to linking and optionally verifying their choice of more than 50 account types. Current and former colleagues can endorse each other with just two taps while seeing who else in their network is making and receiving endorsements. Most importantly, every professional can search the entirety of their network for free, forever, using more powerful filters than competitors who charge thousands of dollars annually.

“Trust in digital identity is rapidly deteriorating, especially in professional networking,” says Mike Viscuso, Co-Founder, Carbon Black and Managing Partner, Legion Capital. “I can’t see a way to restore that without completely re-imagining identity and building it from the ground up with a deeply thoughtful privacy design.  It’s one of the use cases I’m most excited about with crypto, and why I’m a huge supporter of Icebreaker.”

This summer, the team of six will focus on bringing new social graphs into the application on behalf of users as well as promoting connectivity through professional skill endorsements and recommendations.

“I’m encouraged by this new wave of consumer startups that are implementing cryptography in a practical way,” says Dan Romero, co-founder of Web3 social network Farcaster and angel investor in Icebreaker.  “If Icebreaker can issue and maintain offchain and onchain credentials at scale, it will dramatically pull crypto adoption forward by years. I’m excited for them to continue building.”

Connect directly on Icebreaker, or follow the company on X and Farcaster.

About Icebreaker
Icebreaker is the modern open professional network where you meet exceptional people.

About CoinFund
CoinFund is one of the world’s first cryptonative investment firms and a registered investment adviser founded in 2015. The firm champions the leaders of the new internet, powered by foresight as active investors to achieve extraordinary outcomes. CoinFund invests in seed, venture, and liquid opportunities within the blockchain sector with a focus on digital assets, decentralization technologies, and key enabling infrastructure. For more information, visit CoinFund.io, LinkedIn or join us on X.

SOURCE Icebreaker

New funding with participation from Bluestone Equity Partners will expand proven go-to-market strategy and further enhance product capabilities at a time of increased momentum

SACRAMENTO, Calif., July 30, 2024 — Rhombus, a leader in cloud-managed physical security, today announced $45 million in Series C funding led by NightDragon, a dedicated cybersecurity, safety, security and privacy investment firm, with participation from Bluestone Equity Partners, and existing investors Caden Capital, Cota Capital, Tru Arrow Partners, and Uncorrelated Ventures. The round brings total funding raised to over $90 million.

Capital raised on rapid growth in the cloud-managed physical security market
The funding comes as Rhombus has fortified its position as a next-generation leader in the $45 billion physical security market. Demand continues to surge as more organizations look to make the shift from complex legacy systems to fully integrated solutions that leverage the power of the cloud and advanced analytics for enhanced security, safety, and operational efficiencies.

Rhombus’ complete hardware-software solution combines smart security cameras, access control, connected IoT sensors, alarm monitoring, and an intuitive console in a cloud-managed and truly open platform. A growing ecosystem of over 40 integrations, along with the ability to easily serve Rhombus data to other critical systems through an open API, arms organizations with personalized end-to-end solutions. This allows users to see, understand, and respond to critical events unique to their operations – whether they are a school taking proactive steps against gun-related violence, a retailer tackling loss prevention, or a construction business tracking high-value equipment.

“Physical security is entering a new era, where it is possible to have smarter, safer spaces through the power of connected systems, cloud platforms, artificial intelligence, and more. NightDragon is proud to lead an investment in Rhombus, which is enabling this transformation through its innovative, leading technology and open platform approach to better secure our world for tomorrow,” said Dave DeWalt, Founder and CEO of NightDragon.

Funding to expand go-to-market strategy and technology investments
The new round of funding comes at a time of increased momentum for Rhombus, including:

• Growth to over 3,000 customers, from Fortune 500 companies to school districts and cities
• Over 100K devices and cameras securing thousands of locations around the world
• Overseeing 5M+ alerts per day to enhance customer security

Rhombus will use the new funding to further expand its go-to-market strategy, including continued investment in its partner and developer ecosystem and expansion of its international presence. Additionally, it will continue advancing internal artificial intelligence and open platform capabilities. As an investor, NightDragon will support these efforts through its proprietary NightScale platform, which includes partnerships, playbooks, people, and platforms for growth.

“We are excited to bring on additional strategic investors, like NightDragon and Bluestone, who bring a wealth of industry experience which will accelerate Rhombus’ go-to-market and product capabilities. Their investment validates the massive market opportunity for global physical security and accelerates our mission of making organizations safer and their spaces more intelligent,” said Garrett Larsson, CEO, Rhombus.

NightDragon Managing Director Morgan Kyauk will join the Rhombus Board of Directors.

About Rhombus

Rhombus is an open, cloud-managed physical security platform that brings security cameras, access control, sensors, alarm monitoring, and integrations together under a single pane of glass. Backed by NightDragon, Bluestone Equity Partners, Cota Capital, Caden Capital, Tru Arrow Partners, and Uncorrelated Ventures, Rhombus is on a mission to make the world safer with simple, smart, and powerful physical security solutions. To learn more, visit www.rhombus.com. 

About NightDragon

NightDragon is an investment and advisory firm focused on growth and late-stage investments within the cybersecurity, safety, security and privacy industries. Its platform and vast industry network provide unparalleled threat insights, deal flow, market leverage and operating expertise to drive portfolio company growth and increase shareholder value. Founded by Dave DeWalt, the NightDragon team has more than 25 years of operational and market expertise leading technology companies such as Documentum, EMC, Siebel Systems (Oracle), McAfee, Mandiant, Avast and FireEye. Read more about NightDragon at www.nightdragon.com.

About Bluestone Equity Partners

Headquartered in New York City, Bluestone Equity Partners is a private equity firm harnessing a unique combination of blue-chip business and investing experience, coupled with deep industry ties, to forge highly strategic capital partnerships with established Sports, Media & Entertainment businesses and properties. Led by Founder & Managing Partner Bobby Sharma, Bluestone strives to partner with exceptional management teams and rights holders seeking growth and scale on a global basis.

For more information, visit www.bluestoneequity.com and @bluestoneequity on LinkedIn.

Contact Information:
Rhombus
VP of Marketing
Martín Padilla
[email protected]

SOURCE Rhombus