SOUTH SAN FRANCISCO, Calif., Aug. 21, 2024 — Spiral Therapeutics, Inc. (Spiral), a pharmaceutical company committed to developing advanced treatments for balance disorders and hearing loss, today announced that Dr. Jeffrey Sharon will present at the Barany Society Meeting 2024, taking place on Monday, August 26, 2024, in Uppsala, Sweden.
Barany Society
Dr. Sharon, who serves as the Senior Vice President of Clinical Science at Spiral, will present “Early Experience With Long-Acting Dexamethasone For Precise Delivery to the Round Window Membrane for Meniere’s Disease,” highlighting the most recent data from the SPT-2101 clinical trial conducted in Australia under the leadership of Dr. Jafri Kuthubutheen, the principal investigator.
Dr. Jeffrey Sharon is an Associate Professor in the Otology, Neurotology, and Skull Base Surgery division, as well as the Director of the Balance and Falls Center in the Department of Otolaryngology – Head and Neck Surgery (OHNS) at the University of California, San Francisco.
About Spiral Therapeutics
Spiral Therapeutics is a clinical-stage biopharmaceutical company dedicated to developing innovative therapies for inner ear disorders. Leveraging its proprietary Minimally Invasive Cochlear System (MICS™), Spiral enables precise, durable, and minimally invasive drug delivery directly to the cochlea. This groundbreaking platform addresses significant unmet medical needs in treating conditions such as hearing loss and balance disorders. Spiral’s therapeutic pipeline includes promising candidates aimed at improving the lives of patients suffering from these challenging conditions including SPT-2101, a long-acting dexamethasone formulation for precise intratympanic administration. SPT-2101 has shown promising results in clinical trials, with a substantial reduction in definitive vertigo days (DVDs) for patients with Meniere’s disease, significantly improving their quality of life. For more information, visit www.spiraltx.com and engage with us on LinkedIn.
SAN FRANCISCO, Aug. 21, 2024 — Piva Capital, a VC firm on a mission to back visionary founders and emerging technology companies transforming industry, has expanded its investment team with the addition of Lee Larson. Lee joined Piva Capital’s Summer Associates Program in 2023 and returns to Piva as an Investor focusing on carbon removal technologies, quantum computing and AI, and the circular economy.
New Piva Capital Investor, Lee Larson
“Lee brings a remarkable blend of passion, expertise, and innovative thinking to Piva,” said Ricardo Angel, Managing Partner at Piva Capital. “His background in sustainability strategy perfectly aligns with our mission to invest in transformative energy solutions. We are excited to have Lee rejoin our team and look forward to working with him as we continue to explore novel technology approaches to solve climate, energy, and industrial challenges.”
Lee joins Piva Capital after earning his MBA from the Yale School of Management, where he helped launch the Meng Impact Investment Fund and served as its inaugural Head of Investment Strategy. Prior to graduate school, Lee led the environmental impact due diligence team for TPG Rise Climate, a $7.3B private equity fund investing in sustainable energy, transportation, and industrial companies. Lee started his career in management consulting, first with Deloitte and then as a sustainability topic specialist at Boston Consulting Group. Originally from Portland, Maine, he holds a dual degree in Economics and History from Wake Forest University.
About Piva Capital Piva Capital is a San Francisco-based venture capital firm investing in visionary entrepreneurs solving the world’s critical industrial challenges with breakthrough technologies and innovative business models. For more information, visit Piva.vc, or the company’s LinkedIn and Medium profiles.
LONDON, Aug. 21, 2024 — Fresha, the leading marketplace platform for beauty and wellness, today announced it has secured a $31 million venture debt facility from J.P. Morgan. This funding will accelerate Fresha’s expansion into new markets and drive the growth of its machine learning capabilities and AI-powered robotics, further advancing its innovative all-in-one platform.
Fresha the world’s leading marketplace for beauty and wellness investing in Machine Learning and AI Powered Robotics.
Fresha’s platform empowers beauty businesses, such as salons, barbershops, spas, and aesthetics clinics, to operate efficiently and independently. By offering a subscription-free business software with embedded payment processing and a consumer marketplace, Fresha helps businesses streamline their entire operations and connect with more customers, levelling the playing field for businesses of all sizes.
To date, Fresha has raised over $185 million in venture capital funding, including a $150 million Series C round in 2021 led by General Atlantic. As Fresha approaches profitability, this new relationship with J.P. Morgan will further fuel its ambitions to revolutionise the beauty and wellness space.
Fresha’s platform allows consumers to discover, book, and pay for beauty and wellness appointments with local businesses through its marketplace. Beauty and wellness professionals’ benefit from an all-in-one platform that includes free business software and financial technology solutions to manage their operations seamlessly. This approach aligns with Fresha’s vision of fostering innovation and accessibility across the industry, enabling every business to thrive in a competitive landscape.
The Fresha ecosystem offers merchants everything they need to run their businesses effectively, including appointment bookings, point-of-sale, customer records management, marketing automation, loyalty programs, beauty product inventory, and team management. The consumer marketplace leverages online bookings and automated marketing through mobile apps and advanced integrations with major tech platforms, including Instagram, Facebook, and Google, unlocking significant revenue potential for partner businesses. By removing barriers to advanced technology, Fresha ensures that all beauty professionals can enhance their services and expand their reach.
Fresha boasts a network of over 110,000 merchants, with a strong presence in the United States, United Kingdom, Canada, Australia, New Zealand, and Europe. The platform’s reach extends across 120 countries, where customers book tens of millions of appointments monthly. To date, Fresha has facilitated transactions worth over $35 billion in gross merchandise volume, showcasing its significant impact on the global beauty and wellness industry. In 2023, the company grew revenues by 67% year-over-year, with a similar level of performance expected in 2024.
“We’re delighted to support Fresha on their continued growth journey,” said Alexandra Wyatt, U.K. Innovation Economy banking at J.P. Morgan. “Fresha is steering the rapidly expanding beauty and wellness space with its innovative technology and strong unit economics. Their unique business model is transforming the industry landscape, and it’s precisely the type of innovation we want to help drive globally.”
J.P. Morgan serves venture-backed and high-growth companies, founders and venture capital firms across the globe in industries like technology, fintech, disruptive commerce and internet, life sciences, climate tech and healthtech. The firm provides deep industry expertise, local support, global products and services and a robust network of investors and partners to meet clients’ commercial, investment and private banking needs.
“We are thrilled to be working with J.P. Morgan,” said William Zeqiri, Founder and CEO of Fresha. “The beauty and wellness industry is a dynamic world, buzzing with creativity, innovation, and an endless quest for service enhancement. Today, there is so much potential to be unlocked. Beauty service providers need a 360-degree view of each client, including booking behaviour, preferences, payment methods, and lifetime value. Extracting insights from every transaction has become a key competitive advantage, allowing our users to offer highly tailored and personalized services.”
Zeqiri continued, “The next exciting frontier for Fresha is expanding our research and development in machine learning and integrating AI into daily business operations. By embracing cutting-edge technology, we are not just enhancing our services; we are creating opportunities and redefining what’s possible. Our vision is a world where innovation and creativity flourish together, driving progress and enabling everyone to reach their full potential. In the not-so-distant future, we envision AI-powered robots working alongside humans in the beauty and wellness space. Robots can handle repetitive tasks, such as managing bookings, mixing colours, welcoming customers, or managing inventory, freeing up valuable time for stylists to focus on personalizing their services and honing their craft.”
About Fresha Fresha is the world’s #1 beauty and wellness marketplace powered by all-in-one free business software with integrated payments. With over 100,000 partner venues in more than 120 countries, Fresha simplifies business operations and enhances customer experiences. To learn more, visit fresha.com, download Fresha on the App Store and Google Play, or follow Fresha on Facebook and Instagram.
NEW YORK, Aug. 20, 2024 — DL Software today announced the completion of its pre-seed investment round, totaling $2 million. The round was led by dao5, Naval, and Evolve Ventures. Other participants included Kevin Zhou, Meltem Demirors, Balaji, and co-founders from Anduril, Rippling, Flexport, Intercom, Lambda, Replit, Ankr, and Akash.
DL Software operates a portfolio of software products, including:
Godel Terminal: a financial information system
Neets: a generative AI API for text-to-speech and more
Dr. Gupta: an AI physician
Shoggoth: an image generation app featuring decentralized and edge compute
“Hundreds of thousands of users have enjoyed DL products. I’m thrilled to have attracted the faith of marquee investors and look forward to prudently growing our portfolio of diverse products,” said Martin Shkreli, co-founder of DL.
For further information, please contact:
Name: Terry Davis Position: Operating Systems Engineer Email: [email protected]
DENVER, Aug. 20, 2024 — ALLCITY Network, the operator of multi-platform local sports networks, has raised its Series B funding. The round is led by public broadcast company, TEGNA (NYSE: TGNA). Existing investors Mosaic General Partnership and Bullpen Capital also participated in the round. The TEGNA investment brings ALLCITY Network’s total funding beyond $25M and further accelerates the company’s position within the digital sports industry.
In addition to the investment, ALLCITY and TEGNA have entered into a commercial agreement that encompasses cross-promotional opportunities, content licensing, revenue extension opportunities and distribution via TEGNA station’s linear channels and streaming apps in some of America’s most important sports markets. Additionally, talent from ALLCITY and TEGNA’s Locked On Podcast Network will make guest appearances across each other’s shows.
“ALLCITY is at a monumental inflection point where the next 18 to 24 months will not only define who we are as a company but will also define the future of local sports coverage in America,” says CEO Brandon Spano. “We have never had more conviction about our model and our brand than we do right now. For this to also be recognized by such a powerful group of investors only reinforces that vision and increases our commitment to building America’s next major sports network.”
“Nothing brings local communities together like local sports, which is why we are pleased to be doubling down on the category through our investment and partnership with ALLCITY,” said Adam Ostrow, Chief Digital Officer at TEGNA. “Through its multiplatform approach, distinctive editorial voice and diverse offerings, ALLCITY has demonstrated an ability to form deep connections with local sports fans and advertisers, making them an ideal partner to further expand TEGNA’s robust sports offerings across TV and digital.”
ALLCITY intends to use the proceeds for continued market expansion, investment into streaming, FAST operations and the hiring of key management positions.
ABOUT ALLCITY NETWORK ALLCITY Network is reimagining local sports coverage, delivering daily, team-specific shows available across streaming video, podcast, and other digital platforms. Launched in 2019 in Denver, ALLCITY has since expanded to Phoenix, Chicago, and Philadelphia and its portfolio now includes 30+ daily shows across the country. In addition to media products, ALLCITY Network reaches fans with original custom apparel lines and community-driven events, such as tailgates and watch parties. For more information about ALLCITY Network, visit www.allcitynetwork.com.
BOSTON, Aug. 20, 2024 — Kami, a leading classroom engagement and teacher productivity content provider to the US and global K12 market, with over 40 million teachers & students on the platform across over 2,000 US districts and 180 countries around the world, today announced a significant strategic investment from BV Investment Partners (“BV”). The investment values Kami at more than $175M USD.
The strategic growth investment from BV will accelerate Kami’s existing ambitions and help the platform reach every classroom in the world, deepening its US centric focus and expanding globally, signaling a new chapter and phase for Kami.
BV Investment Partners is a private equity firm focused on software, tech-enabled business services, and IT services sectors. BV brings strategic expertise, industry knowledge and valuable networks to the table, and has supported the growth of many other edtech and founder-led businesses. BV’s expertise will also broaden Kami’s scope to increase the breadth of the Company’s impact and value to customers, supporting the Company’s vision of becoming a leading classroom engagement software addressing key industry pain points and empowering teachers and students to transform the learning environment in the tech enabled K12 classroom.
Kami will continue to operate from Auckland, New Zealand and open a Boston office, with all four founders remaining in the business.
“We’ve always been ambitious at Kami, which is why we have over 40 million teachers and students signed up, and now is the time to own the global edtech space, deepening and expanding our presence from our US focus today. BV is the right strategic partner to achieve our goals and continue our mission to scale to the next level,” said Hengjie Wang, co-founder and CEO of Kami.
“At its core, Kami is a founder-led business that has yielded growth by solving real problems faced by teachers and their students. While accelerating our growth with the support of BV, we remain committed to our core mission and values. Our global team including the founders, our operations and day-to-day business functions will continue unchanged.”
Jason Kustka, Managing Director of BV, commented, “We have invested in and helped to scale a number of exciting education-focused businesses that deliver affordable and effective solutions that accelerate learning. Kami provides students and teachers with the tools they need to enhance modern learning and create more equitable quality education. Kami’s mission, rooted in transforming the learning environment in the tech-enabled K12 classroom creates a unique position to strengthen its already dominant position as a leading classroom engagement solution of choice. We look forward to partnering with the talented Kami team to advance their mission.”
BV’s investment also equips Kami with a US-based global growth partner. BV’s tailored expertise will help Kami accelerate its US success and replicate that on a global scale.
About Kami Kami was developed in Aotearoa, New Zealand by four university friends who wanted to make a difference. Eleven years later, the platform has grown into a team of over 100 Kamileons with a shared goal of fostering a positive learning journey for everyone. Kami’s global community of 40+ million users loves Kami because it simplifies workflows, increases student engagement, reduces printing costs, and saves trees too! Kami levels the playing field so that all students – no matter their age, grade, or ability – can love learning. See more about Kami here.
About BV Investment Partners BV Investment Partners is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested approximately $5.5 billion, actively targeting investments in the tech-enabled business services, software, and IT services industries. The firm is investing out of its 11th private equity fund, which closed in September 2023 with $1.75 billion in capital commitments. BV was ranked in Inc. magazine’s 2023 list of Founder-Friendly Investors. For more information, visit www.bvlp.com.
Contact: Chris Tofalli Chris Tofalli Public Relations, LLC 914-834-4334
NEW YORK, Aug. 20, 2024 — Trunk Tools, a groundbreaking AI platform disrupting the $13 trillion construction industry, announces a $20 million Series A. The new capital was led by Redpoint Ventures with participation from Innovation Endeavors, who led the Seed round, bringing the total capital raised to-date to $30M.
Trunk Tools leverages the latest in AI technology to build the “brain” behind construction. By structuring millions of pieces of unstructured project data and deploying AI agents that augment construction professionals in their administrative workflows, Trunk Tools ensures critical information is available to the right people at the right time, automating the tedious and repetitive tasks that have historically weighed on industry productivity and profitability. With Trunk Tools, construction professionals not only save time but avoid construction delays and rework that can cost tens of millions – or more – per project.
“We are thrilled to have the support of Redpoint Ventures and our other valued investment partners, as we push the boundaries of innovation in the construction industry,” said Dr. Sarah Buchner, Founder and CEO of Trunk Tools. “Redpoint’s expertise in investing and scaling AI companies is a perfect match and this funding will enable us to accelerate our growth, develop new products, and cement our place as industry leaders in generative AI for construction. What is another vote of confidence is how many of our current and prospective customers have invested: WND Ventures (DPR’s CVC), Suffolk Technology, AEC Angels, STO Building Group, Liberty Mutual Strategic Ventures, Thornton Tomasetti/ TTWiiN, Charps, and many more.”
Redpoint’s Erica Brescia, also the newest member of Trunk Tools board, added, “Growing up in the construction industry, I have a deep appreciation for the complexities of commercial projects. We have zero doubt of AI’s potential to revolutionize construction management. This is a truly massive market opportunity, and we’ve been searching for a team that combines the empathy that only comes with deep industry experience with the AI expertise to execute this audacious vision. We’re thrilled to partner with Sarah and the team at Trunk Tools, who possess the ideal mix of passion, experience, and AI expertise to bring the power of AI to construction.”
With today’s announcement, Trunk Tools is also introducing the first fully autonomous AI-powered agent tailored to the construction industry: the Trunk Tools Schedule Agent. Harnessing Trunk Tools’ underlying data infrastructure, the Schedule Agent offers an unprecedented solution in the construction industry: a dynamic link between scheduled activities and all essential supporting documentation to build on time, on budget and according to plan. This advanced agent builds upon Trunk Tools’ existing proprietary AI platform, which is already used by many of the largest general contractors and several Fortune 500 companies, to help construction teams stay on schedule by becoming more proactive on the jobsite without any additional effort by sensing project issues, surfacing insights and taking action.
The Schedule Agent integrates seamlessly with schedule files, independently monitoring upcoming tasks to provide timely notifications to notify project managers, superintendents, and project engineers about open tasks, discrepancies or logistical problems.
By helping construction professionals proactively monitor project schedules, manage critical documentation, and automatically alert impacted parties, Trunk Tools fulfills its mission of “empowering construction; let builders build”.
Early users of the Trunk Tools platform are raving about the productivity gains realized in the field. Andy Roy, a Gilbane Building Company senior superintendent who has leveraged Trunk Tools since 2023 on a large, complex construction project states: “Trunk Tools showed that it can help our teams increase efficiency and save significant time by preventing rework. With TrunkText doing the ‘document digging’ for me, I can work more effectively and be more responsive in the field.”
“We like to say we are not in AI but in IA – intelligence augmentation: augmenting the tedious, manual, painful parts of worker’s jobs, so builders can focus on building,” continued Dr. Buchner. “This is just the beginning of what our AI platform and its army of AI agents can achieve. This industry has long been ripe for disruption, but the market has needed the underlying technology to actually get to a point where it can leverage unstructured data effectively. Generative AI is the answer to construction’s long standing incapability to adopt and leverage technology and we are proud to be the leading provider in our industry.”
About Trunk Tools
Trunk Tools built the brain behind construction and is transforming the $13 trillion construction industry. As the preeminent AI agent platform for the built environment, Trunk Tools deploys solutions that streamline construction data management, automate tedious and repetitive work, and reduce waste. Trunk Tools was founded by Dr. Sarah Buchner in 2021 and is headquartered in New York, NY.
About Redpoint Ventures
Redpoint has partnered with visionary founders to create new markets and redefine existing ones since 1999. We invest in startups across the seed, early and growth phases, and we’re proud to have backed over 578 companies—including Snowflake, Looker, Kustomer, Twilio, 2U, DraftKings, Duo Security, HashiCorp, Stripe, Guild, HomeAway, Heroku, Netflix, and Sonos—with 181 IPOs and M+A exits. Redpoint manages $7.2 billion across multiple funds. For more information visit:http://www.redpoint.com/
The capital will fuel the development of high-protein, low-calorie foods.
NEW YORK, Aug. 20, 2024 — David, a platform that designs tools to increase muscle and decrease fat, today announced a $10 million seed funding round. The investment was led by David CEO and Co-Founder Peter Rahal, with additional participation from Valor Siren Ventures, Peter Attia, M.D., and Andrew Huberman, Ph.D.
David Co-Founders Peter Rahal, founder of protein snacks brand RXBAR, and Zach Ranen, former investor and founder of RAIZE, bring extensive experience to their latest venture. Rahal has been obsessed with protein bars from a young age and has dedicated his career to creating the perfect protein bar. Ranen worked with the RAIZE team to develop and scale its low-carb dessert product suite.
The pair will use this fundraising round to continue developing science-based, delicious food and to build its team of industry-leading strategists, scientists, and health experts. Its first product is a protein bar that will have the most protein per calorie of any currently available protein bar. The bars will be sugar-free, gluten-free, and artificial sweetener/flavor-free.
“Michelangelo’s sculpture of David reflects our methodical approach to idealism and dedication to materializing perfection,” says Peter Rahal, CEO and Co-Founder of David. “This funding will allow us to continue developing high-quality, research-backed products that meet the nutritional needs of consumers.”
“David is poised to make a significant impact in the industry,” adds Jon Shulkin, co-President of Valor Equity Partners and Fund Manager for Valor Siren Ventures. “David’s commitment to excellence and clear understanding of the modern consumer’s needs set them apart.”
David’s Chief Science Officer Peter Attia, MD, known for his work in longevity medicine, adds, “My involvement with David stems from a shared commitment to science-driven nutrition that prioritizes muscle growth and effective fat management. Protein is essential for longevity, and our products are designed with that in mind. With Peter Rahal’s proven leadership and the strategic backing of our investors, I believe we are set to lead the industry in creating meaningful change.”
About David David is a platform that designs tools to increase muscle and decrease fat. The brand’s first product, a protein bar, offers the most protein per calorie of any bar on the market. With a commitment to rigorously perfected protein, David’s evidence-based approach delivers unparalleled excellence. To be the first to receive updates, visit www.davidprotein.com
RENO, Nev., Aug. 20, 2024 — Dermody Properties—a diversified private equity investment management company focused exclusively on the national logistics real estate sector—announces the successful closure of its fourth commingled fund, Dermody Properties Industrial Fund IV, L.P. (DPIF IV), securing $1.043 billion in capital commitments.
The acquisition of the fully leased Lacey I-5 Logistics Center represents a significant investment by Dermody Properties within the Pacific Northwest. The acquisition was a part of DPIF IV.
This figure closely mirrors the $1.065 billion raised for its predecessor, DPIF III. Demonstrating strong investor confidence, every existing investor from DPIF III recommitted to DPIF IV, along with two returning investors from DPIF II and four new investors. The investor base for DPIF IV includes a diverse group of prominent public and corporate pension funds, insurance companies and other institutional investors from the United States, Canada and Europe.
“Dermody Properties is dedicated to fostering long-term partnerships by delivering innovative logistics real estate solutions and exceptional customer service,” said Douglas A. Kiersey, Jr., CEO and President at Dermody Properties. “By acquiring and developing logistics facilities where our customers need us most, we are poised for continued growth and success.”
DPIF IV will continue to expand Dermody Properties’ legacy of acquiring, developing and operating state-of-the-art logistics facilities in infill locations across the U.S. The fund will focus on value-add single-asset and portfolio investments, along with strategic new development projects. Leveraging the team’s deep expertise and long-standing industry reputation, DPIF IV is poised to capitalize on the investment opportunities within Dermody Properties’ target regions.
“We are pleased with the overwhelming success of DPIF IV, the continued support of our valued investors from DPIF I, II and III, and the addition of new investors in the U.S. and Europe,” said Kathleen S. Briscoe, Partner and Chief Capital Officer at Dermody Properties. “Dermody Properties’ proven track record in logistics real estate, coupled with our world-class team, positions us to deliver exceptional returns to our global investor base.”
“Our strategic focus on national logistics real estate has yielded best-in-class, diversified portfolios since 2015,” said Michael C. Dermody, Executive Chairman of Dermody Properties. “We are all honored by our investors’ continued confidence and look forward to the many years ahead together.”
For more than 60 years, Dermody Properties has maintained a national portfolio in major markets with strong underlying fundamentals, including favorable supply-demand dynamics, high barriers to entry, above-average rent growth, institutional demand and liquidity. The company has served hundreds of international, national and regional clients.
Shelter Rock acted as a placement agent for DPIF IV, and the legal advisor for Dermody Properties was Kirkland & Ellis.
Photo Cutline: The acquisition of the fully leased Lacey I-5 Logistics Center represents a significant investment by Dermody Properties within the Pacific Northwest. The acquisition was a part of DPIF IV.
About Dermody Properties Dermody Properties is a privately-owned real estate investment, development and management firm that specializes in the acquisition and development of logistics real estate in strategic locations for e-commerce fulfillment centers, third-party logistics and distribution customers. Founded in 1960, Dermody Properties has invested more than $10 billion of total capital across all platforms nationwide, having acquired and developed approximately 110 million square feet of logistics and industrial facilities. In addition to its corporate office in Reno, Nev., it has regional offices in northern and southern California, Atlanta, Phoenix, Seattle, Chicago, Dallas, Indianapolis and New Jersey. For more information, visit Dermody.com.
