CHARLESTON, S.C., July 30, 2024 — Gigpro, a leading on-demand labor marketplace for the hospitality industry, announced today that it has closed a $16 million Series A funding round led by Foundry, with participation from Stage 1 Ventures and existing investors Stage 2 Capital and Detroit Venture Partners. This milestone marks a significant step forward in Gigpro’s mission to revolutionize the gig economy by connecting businesses with skilled independent professionals efficiently and seamlessly.
In just three years, Gigpro has distinguished itself as the leading labor marketplace dedicated to the hospitality industry and recently became the fastest growing company in South Carolina. The infusion of capital will enable Gigpro to expand its platform and enhance its technological capabilities, while continuing to provide exceptional value to both businesses and gig workers.
“We are thrilled to have the support of such esteemed investors who share our vision for the future of work,” said Samuel Mylrea, CEO and Founder of Gigpro. “This funding will allow us to empower more hospitality professionals, further advance our leading technology platform, and continue to provide exceptional service.”
“Gigpro is setting a new standard in the hospitality industry by providing an innovative solution to one of its most critical challenges,” said Chris Moody, Partner at Foundry. “Their commitment to using technology to create a seamless connection between businesses and skilled professionals is transformative. We are excited to support Gigpro as they continue to grow and make a meaningful impact on the industry.”
Gigpro addresses one of the most pervasive challenges in the hospitality industry: labor. This sector faces significant hurdles—79 percent of restaurants experience staffing shortages according to the National Restaurant Association. Additionally, the hospitality industry consistently sees employee attrition rates near 100 percent—twice the national average.
Meanwhile, 67 percent of hospitality professionals report difficulty making ends meet every month. Gigpro’s labor marketplace addresses these problems head on, empowering businesses and hospitality professionals to connect in real time—solving the businesses’ labor gap while providing additional income and career opportunities to hospitality professionals.
“We’re providing a win-win solution to admirable customers on both sides of the marketplace. That’s core to our mission and something we’re proud of,” said Adam Phillips, CPO and Co-Founder at Gigpro.
“Sam and the team at Gigpro continue to execute at an exceptional level, methodically addressing customer pain points with product innovation,” said Jay Po, Co-Founder and Managing Partner at Stage 2 Capital. “The impact the platform is having on their customers is a game changer for this industry. It’s inspiring to see thousands of jobs being created while simultaneously solving the critical talent shortage problem for businesses.”
About Gigpro
Launched in 2021, Gigpro is an on-demand labor marketplace focused on the hospitality industry. On Gigpro, businesses can post shifts for a variety of hospitality roles and receive applicants from qualified, vetted hospitality professionals within minutes.
Since its founding, Gigpro has expanded to service hotels, bars, country clubs, retirement communities, sports arenas, and more, quickly becoming an essential labor solution for these businesses. Beyond helping businesses solve immediate labor needs, Gigpro is also used as a sourcing platform for permanent hires.
To date, Gigpro has helped fill over 350,000 shifts for over 9,000 businesses with its network of over 250,000 hospitality workers on the platform. Gigpro currently operates in 28 cities across the country, including Charleston, SC; Atlanta, GA; Nashville, TN; Charlotte, NC; Philadelphia, PA, and more.
TEL AVIV, Israel, July 30, 2024 — Zenity, a leader in securing enterprise copilots and low-code development, is excited to announce a strategic investment led by M12, Microsoft’s Venture Fund.
Ben Kliger, Zenity CEO and co-founder, stated, “We are excited to be partnering with M12 to continue our mission of helping enterprises securely unleash the use of AI copilots and low-code development. Partnering with Microsoft is a strategic move for Zenity as Microsoft’s global reach, robust technology stack, and commitment to innovation align perfectly with our vision. This investment allows us to leverage Microsoft’s resources to accelerate our growth and work closely on a joint go-to-market strategy, enhancing the security and success of our mutual customers.”
This tectonic market shift in enterprise means that most application development is happening outside of IT. This means applications are being developed without traditional safeguards; namely IT involvement, software development lifecycle (SDLC), CI/CD security tooling, and traditional AppSec tools that rely on code scanning to spot vulnerabilities. This results in a tidal wave of Shadow Application Development.
Zenity researchers have found upwards of 79,000 applications being developed per organization using copilots and low-code platforms. This research further found that over 60% of these applications contain serious security vulnerabilities; be it hard-coded secrets, untrusted guests gaining privileged access to critical assets, over-exposing bots to the public internet, or apps and copilots with poorly configured authentication mechanisms.
Zenity was founded in 2021 to bring application security controls to business-led development happening across these enterprise copilots and low-code development platforms. Zenity currently helps many Fortune 500 enterprises to understand what business users are building across their copilot and low-code estate, identifying security vulnerabilities and development and runtime, and helping to automatically remediate critical findings at scale.
“M12 is committed to driving innovation, particularly through AI and low-code development, which are key to enhancing innovation, productivity, and efficiency. Our investment in Zenity underscores the urgent need for security solutions as enterprise users increasingly utilize developer-level capabilities to process data at AI speeds, without existing safeguards for app security,” said Jason McBride, Investment Partner at M12. “Witnessing Zenity’s impact within Microsoft firsthand showcased the substantial benefits it provides to its customers, solidifying our decision to deepen our partnership with Zenity. This collaboration is pivotal as enterprises strive to securely leverage enterprise copilots and low-code/no-code platforms.”
About Zenity Zenity is the first platform designed to help enterprises secure and govern copilots and low-code/no-code development. The Zenity platform is built from the ground up with a security-first approach centered on three pillars: Visibility, Risk Assessment, and Governance. As the founding member of the OWASP Top 10 project specifically focused on low-code/no-code development, Zenity takes a community-oriented approach to this rapidly evolving security vector.
With SOC 2 Type 2 and GDPR compliance, Zenity’s agent-less platform is uniquely positioned to help enterprises truly know their business apps, and helps organizations with:
DALLAS, July 30, 2024 — StoneTree Investment Partners (“StoneTree”), a lower middle market private equity firm specializing in buy-outs of industrial and manufacturing businesses in the United States and Canada, is pleased to announce the first-and-final closing of its debut fund, StoneTree Investment Partners Fund I, LP, with total capital commitments of $155 million.
Despite a challenging fundraising environment, the fund was oversubscribed and successfully reached its hard cap, in just over two months of fundraising. StoneTree Investment Partners Fund I, LP received commitments from a diverse group of leading institutional investors, including investment funds, family offices, foundations, pension funds, endowments, and OCIOs.
“We are thrilled to partner with a remarkable group of blue-chip institutional investors, including multiple long-standing relationships,” said Joel Stanwood, Partner at StoneTree. “We are grateful for the opportunity to support the respective missions of world-class institutions as we pursue StoneTree’s own mission and purpose of Transforming Industrials. Investing in People®.”
StoneTree Investment Partners Fund I will focus on acquiring controlling equity interests in lower middle market industrial businesses, with a particular emphasis on manufacturing companies. The fund aims to leverage StoneTree’s operational capabilities and industry expertise to drive profit growth in its partner companies while creating attractive career opportunities for the employees of those companies.
Pacenote Capital served as StoneTree’s exclusive agent for Fund I. “We appreciate the bespoke and curated process the Pacenote team delivered,” said Chris Dupré, Partner at StoneTree. “They seamlessly conducted a process with a high degree of efficiency that allowed our team to close a new investment and pursue several other opportunities, while expanding relationships with exceptional investors known for investing in emerging managers.”
McGuireWoods served as legal counsel to StoneTree during the fundraise. Dupré continued, “StoneTree is proud to have McGuireWoods as our fund counsel and trusted advisor, and we appreciate the excellent work the firm delivered on our behalf.”
About StoneTree Investment Partners
StoneTree Investment Partners is an industrials-focused private investment firm founded by experienced operators, engineers, and investors, with a mission of Transforming Industrials and a purpose of Investing in People. The firm selectively invests in established niche manufacturing and industrial companies where StoneTree members can serve alongside employees and management to elevate the company, through a Business Transformation Agenda. For more information about StoneTree Investment Partners and its investment strategy, please visit www.stonetreeinvest.com.
About Pacenote Capital LLC
Pacenote Capital is a boutique private equity placement agent focused on partnering with preeminent emerging investment managers and private equity funds. For more information, please visit www.pacenotecapital.com or contact Casey Peters[email protected].
About McGuireWoods LLP
McGuireWoods is a full-service law firm differentiated by its unique Emerging Manager Program providing preeminent GPs with holistic support throughout fundraising and investing activities. For more information, please visit www.mcguirewoods.com or contact Jon Finger[email protected].
CHICAGO, July 30, 2024 — Thurston Group, a leading healthcare-focused private equity firm, is pleased to announce placement of a new $350 million credit facility at its portfolio company, SGA Dental Partners. As the leading dental support organization focused on serving Southeast communities, SGA Dental Partners is poised to capitalize on this substantial capital infusion to support its ongoing efforts to expand its practice network and enhance patient care.
Dan Davis, Managing Partner of Thurston Group, the private equity sponsor of SGA Dental Partners, expressed his enthusiasm for the funding achievement. “We are thrilled to support SGA Dental Partners in this significant milestone,” said Mr. Davis. “This funding will enable SGA to continue to build on its successful track record of growth and reinforce its commitment to delivering high-quality dental care to communities in the southeastern United States. Our partnership with SGA Dental Partners reflects our confidence in their focused strategy and dedicated team. We thank our financial partners for their support of SGA Dental Partner’s next phase of growth through this new credit facility.”
Jordan DiNola, CEO of SGA Dental Partners, also shared his excitement about the new financing. “Securing this substantial investment is a testament to the strength of our business model and the dedication of our team,” said Mr. DiNola. “With this funding, we are well-positioned to accelerate our growth, invest in cutting-edge technology, and expand our footprint to better serve our patients and communities. We are grateful to our lender partners for their confidence and investment, and to Thurston Group for their unwavering support.”
Overland Advantage, Man Varagon, and Jefferies served as Joint Lead Arrangers and Bookrunners on the transaction.
About Thurston Group
Thurston Group is a private equity firm that focuses on building industry-leading companies in the healthcare services sector. Founded by its Chairman and CEO Patrick J. Haynes III in 1986, Thurston Group has returned more than $4 billion of invested capital in its 38-year history. Thurston has an extensive track record of partnering with physicians and building fast-growing businesses, including Smile Doctors, US Endodontics Partners, US Oral Surgery Management, SGA Dental Partners, US Orthopaedic Partners, Gen4 Dental Partners, ARC Health, Options Medical Weight Loss, Alpha Aesthetics Partners, and Modis Dental Partners, among others.
About SGA Dental Partners
SGA Dental Partners is the leading dental support organization focused on serving communities in the Southeast United States through its network of over 125 general and specialty dentistry practices throughout the region, employing a shared-ownership model with its dentist partners. In partnership with its over 200 dentists and their teams, SGA Dental Partners drives growth through its focus on exceptional care and superior patient experience in the communities it serves.
For media inquiries, please contact:
Sam Ticker Vice President Thurston Group (312) 255-0077 [email protected]
WASHINGTON, July 30, 2024 —DecoverAI, a pioneering legal technology company, is excited to announce that it has raised $2 million in seed funding, led by Leo Capital, with participation from other prominent investors. This funding marks a significant milestone in DecoverAI’s mission to transform the legal industry through cutting-edge AI solutions.
Introducing DecoverAI
DecoverAI, eDiscovery & Legal Research
At DecoverAI, we harness the power of AI to save legal professionals time and money, addressing systemic flaws in both civil and criminal litigation that often result in widespread injustice. Our goal is to build a comprehensive “Legal Brain” – an Intelligent AI system that encompasses the capabilities needed for real world legal workflows, including discovering evidence, combining that with research and even generating different strategies for narratives to assist legal professionals. This includeseDiscovery,legal research, and case strategy development, providing a seamless and integrated experience. Under the technical leadership ofJanar Ramalingam, our CTO, DecoverAI’s flagship technology,Generative Defense, is set to elevate the practice of law by automating complex legal analysis and enabling legal professionals to craft compelling defense strategies with unprecedented efficiency.
A New Era for Legal Research and eDiscovery
One of DecoverAI’s standout features is its ability to query several million documents or several terabytes of data simultaneously, providing legal professionals with rapid and comprehensive access to vast amounts of data and analytics. This capability is a game-changer for general counsels and law firms of all sizes, from boutique practices to the largest AmLaw 200 firms, as well as for plaintiffs seeking to leverage advanced technology for their cases. By offering a scalable solution that meets diverse needs, DecoverAI is positioned to become an indispensable tool across the entire legal industry.
Mission and Vision
At DecoverAI, our mission is to empower legal professionals with the tools they need to achieve better outcomes, faster. At DecoverAI, we envision a world where legal teams will be augmented with human-like intelligence served by smart AI-assisted platforms.
Lawyers handling both criminal defense and civil litigation will be able to harness the power of thousands of associates with perfect memory at their fingertips at a fraction of the cost of what it costs today.
Funding Utilization
The $2 million raised will be used to accelerate the development and deployment of our innovative technologies. The funds will be allocated to enhance our AI capabilities, expand product features, grow our teams, and invest in marketing and sales efforts to bring our solutions to a wider audience.
Quotes from Leadership and Investors
“We are incredibly excited about the potential of DecoverAI to revolutionize the legal industry. Our goal is to empower the best attorneys in the fraternity with the immense power and capabilities of large language models, enabling them to significantly uplevel themselves against their competitors,” saidRavi Tandon, CEO of DecoverAI. “This funding will allow us to take significant strides towards realizing this vision and making a real difference for legal professionals.”
“DecoverAI’s Generative Defense is a game-changer for the legal industry. It represents the next generation of legal technology, providing tools that were previously unimaginable. We are thrilled to have the support of our investors as we embark on this journey,” addedKevin J. Van Horn, COO & CRO of DecoverAI.
“DecoverAI’s proposition is perfectly aligned with Leo Capital’s focus on supporting tech-centric global solutions designed for large-scale disruption. As legal disputes increase, the burden on lawyers and judicial systems worldwide has become overwhelming, making it essential to harness the power of AI to transform legal workflows in a highly targeted way. DecoverAI’s proprietary ‘Generative Defense’ is a groundbreaking solution that is poised to be transformative for law firms of all sizes,” saidRavi Srivastava, Partner at Leo Capital.
About DecoverAI
Founded in 2024, DecoverAI is a Washington, D.C.-based legal technology company focused on delivering AI-driven solutions to enhance the efficiency and effectiveness of legal professionals. By integrating advanced AI with legal workflows, DecoverAI is setting new standards in the industry and driving the future of legal technology.
About Leo Capital
Leo Capital is a venture capital firm that invests in groundbreaking startups across various sectors, with a focus on technology-driven innovation. Leo Capital is dedicated to supporting visionary entrepreneurs and companies that have the potential to disrupt industries and create lasting impact.
Contact Information:
Kevin J. Van Horn Chief Operating Officer & Chief Revenue Officer DecoverAI Email: [email protected]
Leading women’s health app sets new benchmark in rapidly expanding femtech industry
LONDON, July 30, 2024 — Flo Health, the #1 downloaded women’s health app worldwide,1 announced it has raised more than $200M in a Series C investment from General Atlantic, a leading global growth investor. This minority investment propels Flo’s valuation beyond $1 billion, making it the first purely digital consumer women’s health app2 to achieve unicorn status.
In 2023, Flo launched ‘Flo for Partners’, which enables users to educate and empower their partners with scientific insights into their menstrual and reproductive health.
Flo is committed to supporting women at every stage of their health journey, from menstruation to conception, pregnancy, and menopause. With over 120 doctors and health experts, Flo’s all-in-one platform offers curated cycle and ovulation tracking. Users can monitor over 70 symptoms and access various features designed to enhance their understanding and management of their health. Flo also provides users with tailored health insights, expert tips, daily bite-sized visual content, and access to a private digital discussion community focused on health and wellness-related topics. In 2023, Flo launched ‘Flo for Partners’, which enables users to educate and empower their partners with scientific insights into their menstrual and reproductive health. Additionally, Flo’s award-winning ‘Anonymous Mode‘3 feature was recognized as one of Time’s Best Inventions 2023 and was created to further protect sensitive reproductive health information.
Flo’s partnership with General Atlantic will help position Flo for its next phase of growth, with a focus on expanding into new user segments including perimenopause and menopause, enhancing its tech-driven health insights, and pursuing strategic expansion opportunities. To support these ambitious goals, Flo intends to increase R&D headcount with investments in top-tier talent across its global offices in Europe and North America. Flo also intends to leverage General Atlantic’s significant expertise in scaling companies at the intersection of consumer technology, healthcare, and subscription business models.
This milestone bolsters Flo’s position as a frontrunner in the rapidly expanding femtech market, which has evolved from a niche sector attracting minimal venture capital a decade ago, to a projected $60 billion industry by 20274. Flo’s growth has been significant, after more than eight years of continuous expansion. As of June 2024, the company supports nearly 70 million monthly active users (MAUs) and close to 5 million paid subscribers. This rapid growth is further reflected in Flo’s gross bookings for 2024, which are expected to exceed $200 million this year – an approximately 50% year-over-year increase.
“Reaching unicorn status is a significant milestone for Flo and the entire femtech industry,” said Dmitry Gurski, co-founder and CEO of Flo Health. “When we started Flo, we identified a huge gap in women’s health services. Now, we’re a leader in a global movement to make women’s health a priority everywhere. We’re already helping hundreds of millions of women, and our goal is to reach 1 billion women through our global pro-social program. This initiative provides free access to Flo Premium across 66 countries, including India, Indonesia, and Nigeria, with nearly 16 million women already benefiting. We’re committed to building a better future for female health, where every woman feels understood and supported, regardless of her location or economic status. This investment from General Atlantic will help propel Flo Health’s growth as we continue normalizing conversations about women’s health, improving health literacy, and raising awareness of women’s health issues worldwide, especially in underserved regions. “
Jessie Cai, Principal at General Atlantic, commented, “We have been lucky enough to watch the Flo team over the past five years build a beloved, mission-critical app for women globally, and now we have the fortunate opportunity to partner with Dmitry and his team. We are excited about their big vision and the innovation ahead for the broader women’s health and wellness ecosystem. We believe Flo is a category leader and look forward to leveraging our deep expertise across disruptive consumer technology and subscription platforms to support the company’s continued growth.”
“This investment accelerates Flo’s mission to revolutionize women’s health,” said Anna Klepchukova, Chief Medical Officer of Flo Health. “With women spending 25% more of their lives in poor health compared to men5, we’re committed to changing this unacceptable status quo. As the #1 OB-GYN-recommended cycle tracking app, Flo empowers users with tailored health insights, enabling better-informed conversations with healthcare providers. We serve as a tool for preventive care and health education, helping our users recognize potential issues early and encouraging proactive healthcare management. With 1 in 4 US women using Flo6, our platform is uniquely positioned to bring women’s health into the 21st century, all while maintaining the highest standards of medical credibility, data privacy, and user trust.”
As part of the transaction, Tanzeen Syed, Managing Director and Head of Consumer Internet and Technology at General Atlantic, and Jessie Cai, will join Flo’s Board of Directors.
Flo Health was advised by GP Bullhound on their capital raise. The transaction is subject to customary closing conditions.
About Flo Health: Flo Health is the leading app in the Health & Fitness category; it is the #1 OB-GYN-recommended app for period and cycle tracking based on a 2021 survey among 500 US OB-GYNs. As of June 2024, the company supports nearly 70 million monthly active users (MAUs) and close to 5 million paid subscribers. With over 120 medical experts, Flo is committed to supporting women at every stage of their health journey, from menstruation to conception, pregnancy, and menopause. It provides curated cycle and ovulation tracking, tailored health insights, daily bite-sized visual content, and a private community for users to share their questions and concerns. As part of its mission to build a better future for female health, Flo’s Pass it on Project aims to improve health literacy by providing up to 1 billion women in need with free access to Flo Premium. Flo prioritizes safety and focuses on being the most trusted digital source for women’s health information. Flo Health’s Anonymous Mode feature was recognized as one of TIME’s Best Inventions 2023 and also named a finalist for Fast Company’s 2023 World Changing Ideas Awards in the Rapid Response category as part of the company’s commitment to privacy. For more information, please visit https://flo.health.
About General Atlantic: General Atlantic is a leading global growth investor with more than four decades of experience providing capital and strategic support for over 520 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector-specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic has approximately $84 billion in assets under management inclusive of all products as of March 31, 2024, and more than 300 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Miami, Mumbai, Munich, San Francisco, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit: www.generalatlantic.com.
Baseball eatertainment concept expanding to major U.S. cities
DALLAS, July 30, 2024 — Batbox, a groundbreaking baseball entertainment concept, has closed its $7.3 million Series A funding round, attracting investments from notable entities in the U.S. and Mexico, including EMERGING Fund and MG Partners. This capital infusion will drive the company’s growth strategy, with plans to establish over 25 locations in the U.S. by 2030 including cities like Dallas, Houston and Boston, and other major league baseball markets.
Batbox is a social and tech-infused baseball “eatertainment” concept that combines hospitality, sports, and an immersive baseball experience. They utilize Strikezon, a proprietary baseball simulator technology, to provide a realistic and engaging experience designed for people of all ages to enjoy, unwind, and compete with their friends and family in a dynamic, social, and competitive atmosphere.
Since its inception in 2019, Batbox has achieved remarkable success in Mexico. Their proven track record is built on a winning formula integrating state-of-the-art technology with an exceptional hospitality experience.
“Our immersive simulators and high-quality service have made Batbox a popular destination across Mexico, with a growing number of locations showcasing our ability to attract diverse audiences and create memorable experiences,” said Jose Vargas, Founder and CEO of Batbox. “This success is a testament to our innovative approach and our commitment to delivering excellence.”
The U.S. presents a prime opportunity for Batbox’s expansion due to its deep-rooted baseball culture and extensive market potential. With baseball being a national pastime and a major sport in the country with over 150 million fans, the U.S. market is ripe for innovative concepts like Batbox.
“While baseball enjoys a rich history and a passionate fan base, there has been a significant gap in immersive, interactive experiences that rejuvenate the sport, said Craig Winning, COO of Batbox. “Batbox addresses this gap by offering a fun and exciting alternative, providing a fresh approach for both baseball enthusiasts and entertainment fans alike.”
In groups of up to 18 players per bay, customers can compete in teams in a full 3, 6, or 9-inning ball game or challenge their friends in a Home-Run Derby or pitching contest. All the while, they can cheer for their favorite sports team and enjoy an elevated food and beverage offering in a high-energy, vibrant environment.
The company’s first U.S. venue is set to debut in Addison, Texas, in early 2025. It will feature 10 baseball simulators and a 13,000 sq ft sports bar, catering to a broad audience—from baseball enthusiasts and casual players to families and corporate teams—seeking engaging and social experiences that go beyond traditional restaurants or sports venues.
Similar entertainment concepts have successfully transformed other sports by enhancing fan engagement and attracting new markets. Batbox aims to replicate this success in baseball by offering a similar level of innovation and engagement, leading to significant growth and market expansion.
For more information on Batbox and updates on their expansion plans, visit www.batboxusa.com.
ABOUT BATBOX Batbox is a leading innovator in baseball simulator technology, committed to transforming the fan experience through immersive and interactive entertainment. The company aims to expand its footprint across the US, bringing its unique blend of advanced technology and hospitality to communities nationwide.
CerraCap Ventures invests in companies that drive transformative and impactful innovation.
COSTA MESA, Calif., July 30, 2024 — Backed by its legacy of purposeful investments and the deep commitment to creating unique possibilities, CerraCap Ventures, announces its investment in Aviato, a cutting-edge data & analytics platform for private markets. Aviato is poised to provide users with comprehensive insights, enabling the transformation of unstructured data for funds.
CerraCap Ventures is focused on early-stage technology investments, particularly in startups that drive innovative solutions and have the potential for impact on the industries its focus’ on. By keeping technology at the heart of all its pioneering, industry-first initiatives, the firm has paved the way for genuine people stories that strike a universal emotional connection.
Investing in Eric Zhu, an impressive young entrepreneur that is the heart and soul of Aviato exemplifies the firm’s belief in the profound power of innovation, which can move, motivate, inspire and help people to put their ideas in gear. It reinforces the firm’s particular focus in being dynamic and adaptable in a rapidly evolving market.
“Data is the prime driver of the AI revolution. Aviato, with its focus on the private markets, is not only collating unique and better forms of data but creating a new layer of systems of intelligence. Surpassing the older forms of data and reports in this extremely lucrative but underserved markets. We’re proud to be associated with the Aviato and the vision of its dynamic founding team and CEO, Eric Zhu” said Saurabh Ranjan, Managing Partner of CerraCap Ventures.
“We’re incredibly excited to work with CerraCap as an investor in Aviato. With their backing, we are not only positioned for significant growth but also strategically equipped to innovate and lead in our industry. The partners bring significant corporate experience, which will aid us in our market expansion. Together, we will continue to drive forward, leveraging our collective expertise to pioneer technologies that redefine the status quo,” shared Eric Zhu, Founder of Aviato.
About CerraCap Ventures
CerraCap Ventures, a Global Venture Capital fund headquartered in Southern California, is dedicated to early-stage technology investments in enterprise (B2B) solutions focused on the new fundamentals of the digital age -namely, technologies that drive a Healthier, Secure, Planet. CerraCap enables rapid growth of technology startups leveraging its unique Sales & Scale™ model, driving revenue from large enterprises into its portfolio companies. For more details, please visit www.cerracap.com
About Aviato
Aviato is a groundbreaking analytical platform designed to revolutionize the way private market data is accessed and utilized. Aviato offers advanced tools and insights that empower investors, analysts, and businesses to make informed decisions with unparalleled accuracy. Aviato is committed to innovation, excellence, and the democratization of private market data. Its mission is to provide reliable, actionable intelligence that drives success and fosters growth for clients. Join us as we lead the charge in transforming data analytics and setting new standards in the industry. To learn more visit www.aviato.co
Backed by the venture and advisory firm led by former Facebook CRO David Fischer, former Twitter CEO Dick Costolo, and Twitter COO Adam Bain, Haus – the industry leader in decision science and marketing measurement – is expanding their product suite to include automated daily causal attribution insights from regional experiments.
SAN FRANCISCO, July 30, 2024 — Marketing measurement is an age-old problem: How does a brand know what’s working? Today, Haus is announcing $20M in additional financing led by 01 Advisors, an investor group helmed by former Facebook CRO David Fischer, former Twitter CEO Dick Costolo, and former Twitter COO Adam Bain, to help brands understand just that. Rahul Mehta, co-founder and managing partner at DST Global, and Gokul Rajaram participated in the raise, alongside existing Haus investor Insight Partners, which furthered its position in the company. Baseline Ventures, Haystack Ventures, Octave, and Mantis Venture Capital also participated.
Haus is the industry leader in decision science and marketing measurement with good reason: they bring causal science and experimental rigor to a $1 trillion global advertising industry overwhelmingly reliant on misleading, incomplete data and muddied with misaligned incentives. Their groundbreaking GeoLift product enables brands to run scientifically sound test/control incrementality experiments through a self-service platform.
“A changing privacy landscape is altering how marketers target audiences, measure performance, and calculate ROI. Many brands can’t prove where their offline and online marketing dollars are best spent. With Haus, this changes,” says David Fischer, Partner at 01 Advisors. “We are thrilled to partner with Zach and the Haus team to help companies optimize marketing spend and drive better business decisions. We know these challenges well from our time in the field. Having seen how hungry companies are for Haus’ insights – from mature enterprises to growing, digitally-native brands – we couldn’t be more confident in putting our weight behind their track record, expertise, and ambitions.”
“It’s hard to imagine better partners than David, Dick, and Adam to support and champion us in revolutionizing decision science for businesses,” says Zach Epstein, Haus CEO. “Their domain expertise and experience in the space is a tremendous match for our growth and goals.”
With this additional partnership and support, Haus is well-positioned to deepen their holistic marketing measurement and experimentation tooling, expand their causal inference analytics capabilities, broaden their decision science platform across industries, and launch a breakthrough new product solution: Causal Attribution.
Haus’s new Causal Attribution product weaves incrementality into marketers’ existing day-to-day workflows. Today, ad platform and attribution tools take credit for non-incremental conversions – essentially stitching together clicks, views, and outdated data to cobble together best guesses that are incomplete and misrepresentative, leading to wasted spend and unreliable decision-making.
Causal Attribution provides brands with daily insights on the incremental impact of their decisions across channels and tactics – pioneering a way for teams to identify and apply clear returns on investment each and every day. The solution complements GeoLift by enabling marketers to routinely de-bias legacy attribution tools through tailored and timely information.
“Haus’s Causal Attribution reporting will be a vital tool, both for helping us understand the historical impact of channel and even campaign mix, but perhaps more importantly, to help assign budgets going forward,” says Aaron Zagha, Chief Marketing Officer at Newton Living. “As we continue to test our channel mix, this will be the first tool I’ve come across which allows us to understand the true incremental, causal impact of each channel and the role it plays in driving total company sales.”
Founded in 2021 by former Google product manager and data scientist Zach Epstein and supported by a team with deep statistics, econometrics, and applied math backgrounds at companies like Netflix, Amazon, and Google, Haus works with brands like Intuit, Hims & Hers, Pernod Ricard USA, Coursera, Bally Sports, Caraway, and Sonos to measure billions of dollars in ad spend with privacy-durable, trustworthy, and impactful business results.
“As a brand with strong organic momentum, we use Haus to validate the incrementality of paid ads on both our DTC & Amazon business,” stresses Zagha. “We’ve seen north of a 10x ROI on our annual investment in Haus in the first 2 months alone.”
To learn more about Haus and schedule a demo, visit www.haus.io. For all other inquiries, email [email protected].
About Haus Haus is a decision science platform on a mission to democratize access to world-class causal inference tools, empowering businesses to make data-driven decisions rooted in scientific rigor. Its marketing science suite provides leading brands like Sonos, Jones Road Beauty, and Pernod Ricard USA with the power to measure true incrementality and allocate budget efficiently to maximize growth and profitability.
About 01 Advisors 01 Advisors was founded on the idea that proven, scaled operators are uniquely positioned to help hyper-growth companies reach the next level. Led by former Facebook CRO David Fischer, former Twitter CEO Dick Costolo, and Twitter COO Adam Bain, the venture firm supports founders in learning, adapting, and improving their pace of execution to transform breakthrough products into world-class companies.
