New Funding Highlights Abstract’s Leadership in Building the Security Operations Platform of the Future

PALO ALTO, Calif., Oct. 28, 2024 — Abstract Security, a pioneer in security data fabric and analytics, announced today that it has closed an oversubscribed Series A funding round, raising $15 million. The round was led by Munich Re Ventures with super pro rata participation from existing investors Crosslink Capital and Rally Ventures.

Abstract Security is redefining enterprise security operations by enhancing cloud visibility, optimizing data streams, reducing costs, and future-proofing SIEM strategies. By eliminating complexity, improving data routing, and delivering advanced data management, Abstract enables organizations to achieve faster, more effective threat detection and response through its comprehensive data fabric, analytics, and data lake offerings. This latest round of funding will accelerate Abstract’s mission to revolutionize the security analytics and data fabric markets, empowering customers to take control of their security data and gain unparalleled visibility across their environments.

Abstract customers can seamlessly integrate their own security data with threat intel and other data sources through the Abstract Intelligence Gallery market place, which features over 100 integrations with industry-leading vendors such as CrowdStrike, Cybersixgill, Cyware, Flashpoint, Google Mandiant, SecLytics, and Silent Push. This comprehensive ecosystem enables customers to blend their unique security data with valuable threat intelligence and insights, significantly enhancing their overall security posture and enabling more informed decision-making.

“Munich Re Ventures is proud to lead this Series A and support Abstract Security’s journey to reshape security operations,” said Blake Pennington, Principal at Munich Re Ventures. “Abstract’s innovative platform is not just keeping pace with the evolving security landscape; it is setting a high standard in security data fabric and analytics, driving SIEM capabilities far beyond what traditional solutions offer. Colby and his team have built an exceptional organization, equipped with the industry expertise necessary to serve customers with a solution that’s unmatched in the market.”

Today, the majority of security data collected is not actionable or relevant for security teams, and with cyber adversaries averaging just 62 minutes to breach an organization, speed and accuracy in threat detection and response are critical. Abstract’s platform delivers analytics that quickly correlates data and delivers actionable insights at the business level, ensuring security teams can focus on what matters most.

“We are doubling down on our investment with Abstract Security with our Series A commitment,” said Matt Bigge, partner at Crosslink Capital. “As an investor since inception, we saw the focus on execution over the past two years, and the team has proven that execution is a strength so we’re excited to continue supporting the team moving forward.”

“Since Abstract’s inception, we have been laser-focused on linking security analytics to real business value,” said Colby DeRodeff, CEO and co-founder of Abstract Security. “Our rapid customer growth is a testament to our ability to help organizations reimagine their security operations, integrating complex legacy tools and modern solutions to drive real outcomes. This new round of funding will help us continue to execute on that vision.”

The Series A funding follows closely on the heels of Abstract Security’s successful seed round of $8.5 million, announced in March of this year. With this new infusion of capital, Abstract is poised to continue its growth trajectory and expand its impact on the cybersecurity industry.

About Abstract Security

Abstract Security, founded in 2023, has built a revolutionary platform equipped with an AI-powered assistant to better centralize the management of security analytics. Crafted by category creators and industry veterans known for redefining the cybersecurity landscape, Abstract transcends next-gen SIEM solutions by correlating data in real time between data streams. As a result, compliance and security data can be leveraged separately to increase detection effectiveness and lower costs – an approach that does not currently exist in the market.

The leadership team of Colby DeRodeff, Ryan Clough, Aaron Shelmire, Chris Camacho, and Stefan Zier bring a unique set of experiences and backgrounds in product development and company-building expertise, at companies such as ArcSight (acq. by HP), Mandiant (acq. by Google), Palo Alto Networks and Sumo Logic. For more information about the company, please visit https://www.abstract.security/ and follow the journey on LinkedIn and @Get_Abstracted.

Contact
Rich Mullikin
925-354-7444
[email protected]

SOURCE Abstract Security Inc

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PARIS, Oct. 28, 2024 — European cybertech Filigran today announces the completion of its $35M Series B fundraise, led by global software investor Insight Partners, with continued support from existing investors Accel and Moonfire. This new round of funding comes just months after the company’s $16M Series A, underscoring Filigran’s impressive growth and commitment to expanding its global footprint and accelerating product innovation. This funding will fuel the company’s global expansion, particularly in the United States and the Pacific region, while supporting continued product innovation, focusing on AI and data engineering use cases.

Founded by Samuel Hassine and Julien Richard in 2022, Filigran is revolutionizing proactive cyber threat anticipation with its open-source platforms OpenCTI and OpenBAS, tied into a unified eXtended Threat Management (XTM) suite. The XTM suite helps organizations understand threat environments, anticipate and detect incidents, decrease incident response time, stress-test critical infrastructure, and design viable long-term cybersecurity strategies.

Filigran’s threat intelligence solutions serve a growing portfolio of international companies, including Airbus, Marriott, Thales, Hermès, Rivian, and Bouygues Telecom. The company also counts public sector bodies such as the European Commission, the FBI, the New York City Cyber Command, multiple US and Australian federal agencies, the Netherlands National Police Corps, and a number of European ministries as users.

Global expansion and product innovation

The Series B round marks another major milestone in Filigran’s growth. “Securing this Series B investment is a testament to the tremendous progress Filigran has made in a short time,” said Filigran CEO Samuel Hassine. “Our mission is to make threat intelligence accessible and actionable for all organizations. With this new funding, we’re poised to continue that mission on an even larger scale, driving innovation and expanding our reach across key global markets.”

“In a short amount of time, Filigran has managed to change the way security teams think about threat intelligence. Their open-source XTM suite, powered by OpenCTI and OpenBAS, enables users to proactively defend themselves against potential attackers,” said Crissy Costa Behrens, Principal at Insight Partners. “The company’s impressive growth and commitment to accessibility are driving the industry forward. This investment will fuel their global expansion and product innovation, and we are thrilled to be a part of their journey.”

With a thriving community of more than 4,300 cybersecurity professionals and active contributors, Filigran’s open-source approach is redefining standards of cyber threat management.

The XTM suite integrates powerful platforms such as OpenCTI, which helps to structure and operationalize holistic threat intelligence, and OpenBAS, an adversary emulation and security validation solution that leverages real-time threat data to identify security gaps. Together, these solutions provide a unified view of potential risks, enabling organizations to strengthen their cybersecurity posture.

The Series B funding will also be directed towards the development of Filigran’s additional XTM solutions, completing threat management with streamlined threat-driven risk assessment and deception capabilities. Those developments will further enhance the XTM suite, offering a comprehensive, end-to-end approach to threat management that empowers organizations to proactively address emerging cyber threats with greater efficiency and precision.

Filigran was co-founded by Samuel Hassine (CEO) and Julien Richard (CTO). Samuel Hassine has more than 15 years’ experience in cyber threat intelligence and crisis management, and was previously Director of Security Strategy at Tanium, and head of Threat and Risk Analysis at ANSSI. Julien Richard has more than 20 years’ experience managing product and engineering teams while designing complex software in data and AI fields. He was Vice-President of Engineering at YOOI and Director of Engineering at Axway.

About Filigran

Filigran, founded in October 2022, stands out in the cybertech ecosystem for its commitment to revolutionizing end-to-end cyber threat management. Its mission is to develop proactive open source solutions, designed to empower cybersecurity teams to anticipate the next attacks and better manage their cyber threat environment and associated risks. Filigran solutions are used by over 6,000 public and private organizations worldwide.

About Insight Partners

Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2024, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.

SOURCE Filigran

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SHANGHAI, Oct. 25, 2024 — On October 25^th, 2024, Beijing Time, WeRide, a world-leading autonomous driving company and Qiming Venture Partners’ portfolio company, began trading on Nasdaq. This marks a historic milestone as both the world’s first pure-play autonomous driving company to go public and the first publicly listed Robotaxi company. WeRide (NASDAQ:WRD) offered at $15.5/ADS, representing a market cap of $4.3 billion.

Qiming Venture Partners, a leading venture firm committed to frontier technology investments, has long recognized the transformative potential of autonomous driving technology for society. As the earliest and largest financial investor in WeRide, Qiming has played a pivotal role in the company’s growth, participating in its Series Seed, A, and B funding rounds since 2017.

Established in 2017, WeRide aims to develop safe and reliable autonomous driving solutions. The company is the only tech company in the world that simultaneously holds autonomous driving permits in China, the UAE, Singapore, the US, conducting autonomous driving R&D, tests and operations in over 30 cities of 7 countries around the world. WeRide has operated a self-driving fleet for more than 1,700 days.

As the pioneer in autonomous driving technologies with applications in the passenger transportation, intra-city delivery and urban sanitation industries, WeRide offers an all-rounded product mix of Robotaxi, Robobus, Robovan, Robosweeper, and Advanced Driving solution.

With rich experience in autonomous driving R&D, commercialization and operation, WeRide has forged strong alliances with world-class vehicle manufacturers, Tier 1 suppliers, logistics and urban service providers and others, including Renault-Nissan-Mitsubishi Alliance, Yutong Group, BOSCH, GAC Group, etc. Currently, WeRide has demonstrated its leadership in the commercialization of autonomous driving technology. According to China Insights Consultancy, WeRide is the first autonomous driving company in the world to accumulate 10,000 purpose-built L4 autonomous driving vehicle intent orders, and the only autonomous driving company to achieve mass production of an ADAS solution within 18 months into development, the quickest among its peers.

WeRide has developed the highly compatible autonomous driving solution platform, WeRide One, which constitutes a full stack of industry-leading application software, a flexible set of hardware and a comprehensive infrastructure software platform. This approach seamlessly connects the entire lifecycle of autonomous driving products, from R&D through deployment to application. The platform is designed to enable scalable implementation of WeRide’s technology across a diverse range of products and scenarios.

Tony Han, Founder and CEO of WeRide, stated, “Since its inception, WeRide has been dedicated to transforming urban living with autonomous driving. We are grateful to Qiming Venture Partners for choosing to stand by us during the early stages of WeRide’s development, offering long-term support up to the milestone we celebrate today. The IPO marks a new beginning for the company’s growth. Moving forward, WeRide will continue to adhere to its path of productizing technology and commercializing products, bringing safe, comfortable, and convenient autonomous driving technologies, products, and services to users in more countries and regions.”

Duane Kuang, Founding Managing Partner of Qiming Venture Partners, stated, “As the earliest investor in WeRide, we’re proud to have witnessed the company’s transformation from a concept into an industry leader. Over the years, the WeRide team has demonstrated remarkable resilience and commitment to using their world-class autonomous driving technology to improve the world. This IPO represents a significant milestone and the beginning of a new chapter for WeRide. We are confident in WeRide’s continued innovation and its role in accelerating the development of autonomous driving applications for the benefit of humanity. Qiming remains dedicated to supporting visionary companies like WeRide in the smart mobility sector and its ecosystem.”

About Qiming Venture Partners

Qiming Venture Partners was founded in 2006. Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.5 billion in capital raised. Since our establishment, we have invested in outstanding companies in the Technology and Consumer (T&C) and Healthcare industries at the early and growth stages.

Since our debut, we have backed over 530 fast-growing and innovative companies. Over 200 of our portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange, or Shenzhen Stock Exchange, or through M&A or other means. There are also over 70 portfolio companies that have achieved unicorn or super unicorn status.

Many of our portfolio companies are today’s most influential firms in their respective sectors, including Xiaomi, Meituan, Bilibili, Zhihu, Roborock, UBTech, WeRide, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, APT Medical, New Horizon Health, Sanyou Medical, AmoyDx, Berry Genomics, SinocellTech, Yuanxin Technology, Caidya, Belief BioMed, among many others.

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The resulting company will operate under the name Opus Genetics and the Nasdaq ticker symbol (IRD)

RALEIGH, N.C., Oct. 25, 2024 — The RD Fund (Retinal Degeneration Fund) – the venture arm of the Foundation Fighting Blindness – announces the all-stock acquisition of Opus Genetics, Inc. “Opus” (private) by Ocuphire Pharma, Inc., (Nasdaq: OCUP) a clinical-stage ophthalmic biopharmaceutical company. The companies have combined under the name of Opus Genetics to create a transformative biotech company committed to being a leader in the development of gene therapies for the treatment of inherited retinal diseases (IRDs). The combined company is trading on the Nasdaq under the ticker symbol “IRD.”

The RD Fund launched Opus in the fall of 2021 to develop gene therapies for the treatment of inherited retinal diseases (IRDs). The RD Fund led the seed financing for Opus as the first internally conceived spinout of the Fund to further the Foundation’s mission. With the full support of the Foundation’s and Fund’s Board of Directors, the company was co-founded and initially managed by Ben Yerxa, PhD, Rusty Kelley, PhD, Peter Ginsberg, and Jason Menzo along with its scientific founders, Jean Bennett, MD, PhD and Junwei Sun from the University of Pennsylvania and Eric Pierce, MD, PhD, from Harvard and Massachusetts Eye and Ear.

“The initial seed funding allowed Opus to build a pipeline of early-stage preclinical assets, including advancing OPGx-LCA5 into a Phase 1/2 trial where 6-month data demonstrated safety and visual improvement in early onset retinal degeneration,” said Rusty Kelley, managing director of the RD fund and a founding director of the company. “We thank our major donors, including those that enabled project-based funding from the Foundation Fighting Blindness, for helping us advance Opus’s pipeline while weathering a significant biotech downturn,” added Jason Menzo, Opus co-founder and CEO of the Foundation Fighting Blindness.

The acquisition of Opus by Ocuphire is a key milestone as it represents the first RD Fund portfolio company to enter the public markets. The milestone further validates the venture philanthropy model of derisking assets – making them more attractive to institutional investors and the public markets. “That a highly skilled and experienced team – including former Opus executives and directors Ben Yerxa, Jean Bennett, and Adrienne Graves – will advance the Opus portfolio with a commitment to being a leader in developing genetic medicines for the treatment of IRDs accelerated our approval of the transaction,” said Kelley.

About the RD Fund
The RD Fund (Retinal Degeneration Fund), the venture investment arm of the Foundation Fighting Blindness, has a dual mission: accelerate the approval of therapies for retinal diseases and provide alternative revenue sources to further the Foundation’s mission. Established in 2018, the RD Fund prioritizes investments in companies around the globe developing therapies that are close to clinical testing. For more information, visit RDFund.org.

About the Foundation Fighting Blindness
Established in 1971, the Foundation Fighting Blindness is the world’s leading private funding source for retinal degenerative disease research. The Foundation has raised more than $915 million toward its mission of accelerating research for preventing, treating, and curing blindness caused by the spectrum of blinding retinal diseases including: retinitis pigmentosa, macular degeneration, and Usher syndrome. Visit FightingBlindness.org for more information.

Media Contact:
Chris Adams
410-423-0585
[email protected] 

SOURCE Foundation Fighting Blindness

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• Connecting North American Investors and Entrepreneurs, NAVER D2SF to “actively discover North American startups and promote global synergy.”
• Strengthening support from networking with local investors and entrepreneurs, attracting investment to promoting, “NAVER D2SF will be a bridge between North America and Asia.”

SEONGNAM, South Korea, Oct. 25, 2024 — On the 24th (local time), NAVER D2SF held a networking meetup for local investors and entrepreneurs in Silicon Valley, expressing its ambition to serve as a gateway for startups seeking global market expansion.

Since its launch in 2015, NAVER D2SF has made significant investments in 110 early technology startups, aiming for NAVER’s Corporate Venturing (CV). NAVER D2SF has facilitated connections between approximately 1,700 startups, including its portfolio companies, and various organizations of NAVER. It has created strategic synergy between NAVER and startups by deriving more than 210 agendas for collaboration. In September, NAVER D2SF started to expand its reach into the North American market by investing in two startups based on America: “Claythis,” a 3D-content generation startup, and “YesPlz,” an AI-powered fashion search and recommendation startup.

Through this meetup, NAVER D2SF aims to enhance synergy in NAVER’s global business and technology strategies by discovering and investing in local startups in North America. At the same time, it seeks to establish a network of local companies, investors, and entrepreneurs to serve as a gateway, facilitating the global growth of startups by supporting North American startups’ entry into Asia and Korean startups’ expansion into North America. NAVER D2SF also plans to strengthen support for attracting follow-up investment, as well as global promotion and marketing.

“Amid intensifying global competition in technologies such as AI and robotics, the global market expansion of startups has become essential,” said Yang Sang-hwan, head of NAVER D2SF. “Leveraging NAVER’s global business and technological achievements, we aim to help startups enter the global market and foster synergies between NAVER and startups across borders.”

YJ Park of NAVER D2SF, who leads startup discovery and investment of startups in North America, said, “D2SF has already been engaging with many local startups, and they are showing strong interest in the Asian market.” Park added that the company “will actively invest to any startup interested in the Asian market or capable of creating synergy with NAVER, regardless of nationality or race background – not just Korean startups founded in North America.“

Meanwhile, NAVER D2SF is openly recruiting new investment candidates from both domestic and North American startups through its website, and has also established office hours to facilitate more diverse networking opportunities. 

About NAVER

Founded in 1999, NAVER is Korea’s largest Internet company. It operates No.1 search engine in Korea ‘NAVER’ and the nation’s No.1 e-commerce platform, as well as other global online services such as LINE mobile messenger, Webtoon and Webnovel publishing, SNOW video camera app and ZEPETO metaverse platform.

In addition to its own offerings, NAVER is building a strong global business portfolio through partnerships with industry-leading companies, including Softbank, Poshmark, and Wattpad.

NAVER recorded sales of KRW 9.6 trillion (USD 6.9 billion) in 2023. The company invests approximately 25% of its annual sales on R&D projects, pursuing innovation through continuous research and development of future technologies, such as artificial intelligence, robotics and autonomous driving technologies.

To learn more, visit www.navercorp.com/en 

SOURCE NAVER

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LONDON and FRANKFURT, Germany, Oct. 25, 2024 — SEPA Cyber Tech Group Holding Ltd., a prominent London-based tech developer and venture capitalist, has renamed part of its organisation related to financial technology to FinHub.

The newly renamed division proudly announces the launch of its groundbreaking eponymous financial super platform. Designed to meet the evolving needs of banks, FinTechs, and anyone who wants to utilize or participate in the financial industry.

FinHub promises to redefine the landscape of financial services with its innovative and self-serviceable business model. The platform offers a multitude of financial software and services. It’s developed to serve four market needs:

• Technology and BaaS
• Inter-Banking License and BaaS
• Embedded Finance
• Business Banking

This transformation from SEPA Cyber Technologies to FinHub signals a strategic expansion of the company’s capabilities, creating a hub that caters to every facet of the financial ecosystem. The new platform integrates cutting-edge technology with banking licenses fused with intuitive interfaces to self-administrate, allowing users to customise and manage their financial products and services fully and easily.

“FinHub’s comprehensive platform empowers financial institutions and non-financial players alike by offering an end-to-end, easy-to-navigate suite of tools and services,” said Konstantinos Birtachas, CEO of FinHub. “Whether you’re a large bank, a startup fintech, or a non-financial institution wanting to join the financial industry, we have built a solution that adapts to your needs.”

The platform’s self-serviceable model allows users to independently configure and deploy solutions such as payments, core banking, compliance tools, issuing, acquiring, and more. This flexibility enables clients to quickly respond to market trends, improve operational efficiency, and enhance product suits.

Sristhi Assudani, COO Global at FinHub, emphasized the platform’s potential to drive innovation across sectors: “This launch marks a significant milestone in our company’s evolution. With the FinHub super platform, we are not just offering a product—we are providing a framework that allows for seamless collaboration and participation in the financial industry. It’s built to scale, empowering our clients to grow at their own pace.”

For more information, please visit https://finhub.cloud/ or contact [email protected]. 

About FinHub

FinHub, formerly known as SEPA Cyber Technologies as part of SEPA Cyber Tech Group Holdings Ltd., is a leading innovative financial technology and services provider. Focused on delivering robust, scalable, and secure solutions, FinHub serves a wide range of clients across the financial sector, enabling them to transform their operations and adapt to a rapidly changing industry.

Photo – https://mma.prnewswire.com/media/2539476/FinHub.jpg
Logo – https://mma.prnewswire.com/media/2539478/FinHub_Logo.jpg

SOURCE FinHub

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BOCA RATON, Fla., Oct. 24, 2024 — Yoga Joint, South Florida’s premier chain of hot yoga and fitness studios, announced today that its Joint Venture Program has successfully raised $12 million in capital through crowdfunding from its community of members. 

This $12 million capital investment was raised to continue the company’s Florida expansion. The company plans to open locations in Coral Springs, Coral Gables, Winter Park, Palm Beach Gardens, Delray Beach, and Doral. Negotiations are underway to open additional studios in Kendall, Miami Lakes, and Pinecrest.

Since announcing its expansion with the Joint Venture Program, the company has added 8 locations and is looking to continue placing a foothold in South Florida, Orlando, Tampa, and Jacksonville, with future sights on entering the Austin and Dallas, Texas markets in 2025.

For those interested in partnering with the company, this investment model requires a minimum $100k investment from accredited investors. These investors own a stake in the location, while Yoga Joint retains its majority shareholder position and oversees the operations of all studios daily.

To learn more about the Joint Venture Program, please visit https://invest.yogajoint.com/

About Yoga Joint

Yoga Joint is South Florida’s premier chain of hot yoga and fitness studios. Founded in 2010 by Paige Held, the company has grown exponentially since announcing its Joint Venture program. A leader in the health and wellness space, each Yoga Joint location provides its clientele with an incomparable studio experience by focusing on the quality of its Flow and FIIT classes, extraordinary customer service, state-of-the-art facilities, and a custom-built mobile app with on-demand classes.

Media Contact:

Bernie Zarco
CEO & Managing Partner
(305)-302-2884
[email protected]
www.yogajoint.com

Social Links:

LinkedIn
YouTube
Instagram
Facebook
X

SOURCE Yoga Joint

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David Yang joins Socium Ventures as Partner

ATLANTA, Oct. 24, 2024 — Socium Ventures is a venture and growth investment firm focused on investing in durable and compounding companies. Today, Cox Enterprises announced the second fund for Socium Ventures, a $300 million investment, bringing the total managed capital to $600 million. Socium Ventures is actively seeking investment opportunities in the $3 million to $25 million range across industries and sectors experiencing technology-led growth, including enterprise and vertical software, advanced computer tools, public sector software, healthcare, fintech, B2B marketplaces and sustainability. The Socium Ventures team looks to support its portfolio companies across every stage of development with strategic and operational support as well as permanent capital over the long term.

“Cox Enterprises has built innovative businesses for 126 years,” said Dallas Clement, president and chief financial officer, Cox Enterprises. “This second round of funding for Socium Ventures strengthens our ability to partner with the next generation of original thinkers to create solutions to big problems and prosperity for the next generation.”

Launched in June 2023, Socium Ventures, backed by Cox Enterprises, is looking to build on the strengths of the Cox platform, including its deep and permanent capital base as well as the strategic and operational expertise of Cox’s $23 billion family of businesses. Socium Ventures’ current portfolio of companies include New York-based Carbyne, a company revolutionizing how citizens engage with emergency services nationwide— and recently added Knowde and Crisp to the portfolio.

“This second fund recognizes what we’ve accomplished since launching Socium Ventures last year,” said Andrew Davis, senior vice president of Strategy and Investments, Cox Enterprises and managing partner of Socium Ventures. “Moving forward, we will continue our investing strategy to help early-stage businesses scale for a bigger impact. This is a formula that has worked well for us, and we are excited about our future prospects.”

In a significant addition to its team, Socium Ventures welcomes David Yang as a partner. He is the first dedicated senior hire for the firm. Yang joins Socium Ventures after spending 15 years investing in growth technology companies across investment stages, including venture, growth and public companies. His past investments have included Chime, Deuna, Digital Ocean, JOKR, Papaya Pay and PinDuoDuo. He started his investing career at Warburg Pincus and TA Associates.

“I’ve spent my career supporting founders and leadership teams who are building foundational companies,” said Yang. “I’m incredibly excited to join Socium Ventures and execute against our mandate of partnering with durable and compounding companies that are leading the charge on innovation and growth.”

For more information about Socium Ventures and its latest investments, please visit sociumventures.com.

About Cox Enterprises
Cox Enterprises is dedicated to empowering people to build a better future for the next generation. Cox is a leader in the broadband, automotive, and media industries, as well as a leading investment platform with strategic positions in emerging technologies driving the future of agriculture, renewable energy, health care, and public sector software. Headquartered in Atlanta, Georgia, Cox is a global company with $23 billion in annual revenues and a proud history spanning more than 125 years. To learn more about Cox and its commitment to its people, planet and communities, visit coxenterprises.com. 

About Socium Ventures
Socium Ventures, a venture and growth investment fund launched by Cox Enterprises, represents a new era in full life cycle investment strategies. Socium Ventures is dedicated to supporting portfolio companies at every stage of development and building strong partnerships with founders. Seeking investment opportunities for Series A and beyond, Socium Ventures offers a unique proposition, providing companies with access to deep and permanent capital, extensive strategic and operating experience, and support across stages and over the long term. Learn more at SociumVentures.com.

SOURCE Cox Enterprises

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Archy’s software can support the daily tasks of an entire dental practice with its cloud-based solution, automating processes and functions, while reducing costly server infrastructure, saving 80 hours per month in lost time for a single practice

SAN JOSE, Calif., Oct. 24, 2024 — Archy, a pioneer of cloud-based automation software for dental practices, today announced it has raised $15M Series A funding in a round led by Entrée Capital with participation from Bessemer Venture Partners, CRV, Alven, 20VC Growth fund and several angel investors and dental professionals. The investment will advance further development of the Archy product, embedding AI across various areas to make dental practices more efficient and allowing dental teams to focus on more intricate tasks, while increasing practice revenue opportunities and significantly enhancing customer experiences.

Dental practices are being plagued by several fundamental challenges simultaneously. They are facing a severe staffing shortage, with capacity reduced by an estimated 10% across the US – an issue that is set to be further compounded by 33.7% of dental assistants and 31.4% of dental hygienists indicating they are planning to retire within five years. Dental practices are also contending against decreasing dental insurance reimbursements, making it harder for practices to offer competitive salaries, all while 75% of them still rely on outdated, on-site servers, proving a major obstacle to operational efficiency and presenting security risks.

Archy addresses each of these challenges through its pioneering fully automated, cloud-based solution that eliminates the need for costly, outdated on-premises servers while providing AI-driven automation tools for insurance verification, billing, scheduling, and patient communication, streamlining daily operations. Its integrated imaging solution also ensures x-rays and images are stored in real-time, while a direct integration with Pearl AI enables AI-powered x-ray analysis within the platform. Moreover, by moving practices to the cloud, Archy enhances security, provides regular updates, and offers seamless scalability, allowing dental practices to focus on intricate tasks and patient care.

“Fewer staff, mounting workload, less revenue opportunities all while using antiquated systems presents a long-term challenge not only to dental practices, but also inevitably to dental patient care,” said Jonathan Rat, Co-Founder & CEO of Archy. “By integrating Archy, dental practices have an immense opportunity to reinvent how they manage the day-to-day workload, saving crucial time and cost which can be driven instead into business improvements, patient care and outcomes. Archy’s automated overhaul of a dental practice’s operations helps develop and retain the workforce, and our aim is to become a linchpin for sustainable growth for the practice itself.”

“We are excited to join Archy on its journey as it revolutionizes how dental practices interact with and support their patients,” said Avi Eyal, Co-Founder and Managing Partner, Entrée Capital. “In a sector so deprived of innovation, Archy blends simplicity and automation and creates seamless integration across the dental practice, with fast implementation. Practices using Archy are already reporting significant improvement in efficiency, and increased customer satisfaction and better patient care delivery. We believe the market is ripe for disruption and that Archy is the company that will emerge as the leader in this sector.”

Kent Bennett, Partner at Bessemer Venture Partners added, “Dentists have a reputation for being tech-phobic, but the truth is that legacy platforms never gave them a reason to fall in love. Archy has changed that with an end-to-end product that’s a breeze to onboard. The company has seen impressive adoption this year that puts them in line with the most exciting vertical SaaS launches we’ve seen. We’re thrilled to partner with the company again in this round.”

Inspired by Co-Founder, Dr Christine Liu’s experience as a dentist herself, Archy was designed by dentists for dentists, to enable a more efficient approach to every facet of the day – from booking appointments and conducting diagnoses, to treatment plans and managing patient outcomes. Archy has automated many of the time-consuming processes that dental practices face daily, saving time and reducing human error, allowing practices to prioritize patient care.

With Archy’s imaging software included, practices no longer have to rely on external software for imaging. With this funding round, Archy will be bringing more AI and ML features to their platform especially in the areas of analytics and revenue cycle management. This funding round takes Archy’s total investment to date to $27 Million and the company boasts several leading entrepreneurs on their board and as Angel investors. Archy is currently working with a few hundred dental practices across the US.

About Archy

Archy is a leading provider of practice management software for dental practices. Its all-in-one solution helps the front-line dental workforce save invaluable time and costs by eliminating the need for multiple, expensive add-on software packages and services. On average, an individual practice can save $8,000 per year by switching to Archy. From charting to payroll, employee management to patient engagement, Archy provides a transformative, one-stop shop for practice owners.

Media Contact

Gavin Horwich
Campaign PR
[email protected]

SOURCE Archy

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