SAN FRANCISCO, Nov. 20, 2024 — Shinami, the leading developer platform across Move-based blockchains (Aptos, Sui, and Movement), has announced the successful close of a $5.645 million seed funding round. Race Capital led the round, with participation from 6th Man Ventures, Coinbase, Circle, and Mysten Labs. Aptos Foundation provided an additional undisclosed investment.
Positioned as the “Consensys for Move,” Shinami offers a comprehensive, ‘one-stop-shop’ developer platform that simplifies building applications on Move-based blockchains through advanced tooling, easy-to-use APIs, and helpful docs. The platform’s impact is demonstrated through its Node Service powering billions of monthly on-chain reads across hundreds of applications, its Gas Station sponsoring over 100 million transactions to date, and its Wallet Services supporting more than 2 million monthly active users.
“Our team’s experience building developer platforms at Twilio, Microsoft and Alchemy, combined with our early conviction in Move, has shaped how we support builders across the entire ecosystem,” said Nikhil Chari, Co-founder and CEO of Shinami. “This funding empowers us to continue providing the infrastructure and tools Move developers need to create better user experiences across the Sui, Aptos, and Movement networks.”
As part of its commitment to advancing the Move ecosystem, Shinami also joined the Move Collective. This collaboration strengthens Shinami’s ability to support developers as they expand and build on Movement, while contributing to the ecosystem’s broader growth and innovation.
For more information about Shinami and to stay updated on future developments, visit shinami.com and follow Shinami on X at @ShinamiCorp.
About Shinami Shinami is the leading developer platform for Aptos, Sui and Movement, designed to help Move developers build faster, with better UX, and less overhead. Through its industry-leading Node Service, Gas Station, and Wallet Services, Shinami serves a growing community of developers and millions of end-users.
Zitadel elevates open source project for enterprises that need multi-tenancy identity infrastructure across public and private cloud, flexible deployments, and data security
SAN FRANCISCO, Nov. 20, 2024 — Zitadel, creators of the popular open source project for cloud-native identity infrastructure, today announced its $9 million Series A funding round led by Nexus Venture Partners with participation from Floodgate. Both firms represent the world’s best experts in open source, developer tools, and identity infrastructure. Zitadel’s developer-first approach and a strong focus on data security and ownership has fueled its growth to more than 150 customers across North America and Europe. This investment will further Zitadel’s vision to lead the identity infrastructure and authentication market.
Abhishek Sharma, Managing Director at Nexus Venture Partners, said, “We have been impressed with the Zitadel team’s vision and are excited to strengthen our partnership. With a vision to bring a cloud-native identity platform that puts developer experience and data security at its core, Zitadel is on the path to becoming the de facto standard for identity and authentication management. The identity and authentication space is ripe for disruption and Zitadel is well-positioned to win.”
“Zitadel is addressing a critical need in the market for cloud-native identity infrastructure. The identity solutions in the market today fall short on their promise to deliver simplicity of integration and flexible deployment options, especially for mid-market and large enterprises,” added Mike Maples, Jr. Founding Partner at Floodgate. “Zitadel’s vision and continued execution are reflected in a steady growth in their customer base, strengthening their ability to become the leading identity infrastructure provider.”
As subscription-based businesses continue to outgrow traditional business models, numerous companies are seeking scalable solutions to authenticate, authorize, and manage users efficiently. Companies are also challenged more than ever to ensure data is protected with the highest level of security. By offering cloud-native identity infrastructure with multi-tenancy capabilities, Zitadel is the only identity infrastructure tailored for the enterprise to tackle authentication and permission management.
“Zitadel is more than just a tool; it is a comprehensive identity platform that caters to the diverse needs of developers, operators, and security professionals”, said Florian Forster, co-founder and CEO of Zitadel. “Embarking on this next phase, we will invest in our platform, customers, and the open source community by improving APIs and SDKs for developers, enhancing observability and visualization tools for site reliability engineers, and investing in AI-driven threat detection and security incident management modules.”
Businesses today struggle with the complexities of single sign-on, multi-factor authentication, and granular permissions, especially in business-to-business (B2B) environments. Zitadel’s open source approach, developer-friendly APIs, and a robust multi-tenant architecture make it easy to integrate with both new and existing applications. This empowers customers to manage multiple organizations and security policies simultaneously.
Zitadel serves a globally distributed customer base of over 150 businesses with an identity platform that caters to a diverse range of industries, including manufacturing, finance, education, healthcare, and SaaS. Zitadel’s customers include large enterprises with advanced use cases and deployments, as well as small and medium-sized businesses (SMBs), that value the company’s developer-first approach, commitment to data ownership, comprehensive audit trails, and flexible deployment options. Zitadel gives businesses complete control over their sensitive data and ensures regulatory compliance.
The Series A investment will enable Zitadel to accelerate product development, expand its technical team, and strengthen its position as the leading solution in cloud-native identity security. Developers will be able to create fully customizable login experiences that seamlessly integrate with existing protocols like SAML2 and OpenID Connect. Security operators will be empowered to derive actionable insights through data aggregation, enabling them to monitor compliance and security across user behaviors and application usage patterns. By streamlining complex processes, security operators can leverage advanced usage analytics and threat intelligence capabilities, allowing them to focus on strategic security initiatives.
About Zitadel Zitadel is the leading provider of cloud-native identity infrastructure solutions. Its platform offers a comprehensive suite of tools for multi-tenant, authentication, authorization, and user management. Designed for scalability, flexibility, and security, Zitadel empowers organizations to protect their cloud infrastructure and applications. For more information, please visit https://zitadel.com/
About Nexus Venture Partners Nexus helps extraordinary founders build product-first companies and manages $2.6B capital across funds. Over the years, we’ve supported companies like Postman, Apollo.io, Zepto, MinIO, Hasura, Orkes, Fingerprint, Observe.ai, Neuron7.ai, Nx, Druva, Rancher, Ultrahuman, Pubmatic, Delhivery, H2O.ai, ISFC, Rapido, and Turtlemint. To learn more about us, please visit www.nexusvp.com or follow @nexusvp on X.
About Floodgate Floodgate’s core belief is that the world needs more breakthrough builders who design the future. Over the past 2 decades, we have been early believers and investors in transformational consumer and B2B startups like Okta, Twitter, Twitch, Lyft, Applied Intuition, and others. You can find our core beliefs at www.floodgate.com.
New funding from Blackstone Innovations Investments, FINTOP Capital and JAM FINTOP will support Cardo AI’s expansion into the U.S. market and accelerate its mission to scale asset-based finance and private credit with modern technology.
MILAN, Nov. 20, 2024 — Cardo AI, a next generation asset-based finance and private credit technology platform, has completed its $15mn Series A round. The investment was co-led by Blackstone Innovations Investments, Blackstone’s early-stage strategic investment arm, FINTOP Capital and JAM FINTOP. Andy Horwitz and Kevin MacDonald, co-founders of Black Mountain Systems, also participated in the round.
The $40 trillion asset-based finance and private credit market continues to operate with outdated systems, manual processes and fragmented data. As the market expands with increasingly complex investment strategies, Cardo AI is modernizing the sector’s operations with advanced portfolio modeling and collateral data management technology. The platform facilitates investment decision-making and portfolio monitoring of multi-strategy credit portfolios for industry stakeholders—from investors to banks and servicers—leveraging advanced software workflows, a powerful data engine and predictive AI algorithms. The platform also supports servicers, trustees and fund administrators in streamlining operations and reducing costs.
Founded in 2018, Cardo AI rapidly expanded its presence throughout Europe, with early support from Fasanara Capital, before entering the U.S. market earlier this year. Over the past few months, Cardo has onboarded several of the most sophisticated private credit and asset-based finance investors in the U.S. In addition to co-leading the Series A round, Blackstone is leveraging Cardo AI’s technology in its Credit & Insurance operations to support direct lending and asset-based finance transactions.
Co-leads FINTOP Capital and JAM FINTOP bring deep operating expertise and a strategic network of nearly 100 regional and community banks. Rick Kushel leads the investment for FINTOP and brings over three decades of experience building companies such as iLevel Solutions and DealCloud.
Altin Kadareja, Founder and CEO of Cardo AI: “Our expansion into the US market, supported by such prestigious institutions, highlights Cardo AI’s ability to deliver powerful technology for the alternative credit industry. We are excited to collaborate with new investors and are confident that our platform will play a significant role in scaling the market and enhancing operational excellence for our clients.”
John Stecher, Chief Technology Officer at Blackstone, said: “At Blackstone we have seen firsthand the rapid growth in alternative credit. To keep pace, the industry needs to move away from manual, spreadsheet-based processes to embrace scalable technology solutions. Our Credit & Insurance team has been impressed by Cardo AI’s robust portfolio management capabilities for complex instruments.”
Rick Kushel, Managing Partner at FINTOP Capital said: “We see enormous potential for Cardo AI to transform an industry that has been slow in adopting technological innovation. With decades of experience, their team brings the expertise needed to tackle the challenges this market faces. We are excited to support them in setting the standard in asset-based finance and private credit technology.”
About Cardo AI Intelligent technology for the asset-based finance market. Cardo AI is a global fintech company with the mission to make the market more efficient, transparent, and accessible to all players. Using proprietary technology that integrates software, data, and intelligence Cardo AI accompanies banks, credit originators, servicers, asset managers, and asset owners throughout the entire process of asset based finance investments: from managing data, formulating predictive analytics, and optimizing portfolios. To date, more than $40 billion are managed through its technology platforms, drawing on a team of more than 120 talents.
SAN DIEGO, Nov. 20, 2024 — Cortechs.ai, a leader in AI-powered neuroimaging and prostate imaging solutions, is pleased to announce the successful close of an oversubscribed Series C funding round led by VILAS Ventures. This strategic investment will fuel the company’s mission to advance medical imaging through cutting-edge technology, expanding both its product suite and market reach.
The funding round, which exceeded its hard cap by a wide margin, drew strong interest from a diverse group of investors, reflecting high confidence in Cortechs.ai’s innovative solutions. Existing investor Genting Berhad, a global conglomerate, participated in the round as well.
“We are thrilled by the enthusiastic response from our investors,” said Kyle Frye, CEO of Cortechs.ai. “This oversubscribed round is a testament to the growing recognition of the critical role our AI-powered tools play in improving diagnostic confidence and patient outcomes. In selecting VILAS Ventures as our capital partner, we valued their deep understanding of healthcare technology, their track record of providing operational support to portfolio companies, and their shared commitment to transforming healthcare. With this support, we’re poised to drive even greater innovation and provide unparalleled value to our clinical partners.”
Daniel Livschutz, Managing Director of VILAS Ventures, expressed excitement about the partnership: “As our inaugural deal, we couldn’t be more thrilled to partner with a visionary company like Cortechs.ai, which has established itself as a frontrunner in AI-driven medical imaging. In our search for the best AI imaging product on the market, Cortechs.ai stood out as a clear leader with the most comprehensive and accurate suite of AI diagnostic tools for the brain and prostate. Their innovation is truly unparalleled, driven by a talented team and a unique ability to bring products to market at record speed. We believe their technology is the leader to address significant gaps in neuroimaging and cancer detection. With this record-breaking investment, we look forward to helping Cortechs.ai realize its extensive product roadmap and continue to expand its position as the global leader in AI diagnostic tools and clinical decision support.”. Livschutz will assume the role of Board Chair, bringing his leadership and expertise to guide Cortechs.ai in this next stage of growth.
Cortechs.ai’s long-standing partnership with Genting Berhad has been pivotal to its growth. “Genting has been a proud partner of Cortechs.ai from the very beginning, supporting its journey from research and development to groundbreaking product innovation,” said Dato’ Sri Tan Kong Han, COO of Genting Berhad. “We are thrilled to co-invest in this next phase, as the company takes bold steps toward fully realizing its commercial success and transforming patient care through advanced AI-driven imaging solutions.”
The company’s rapid evolution is also a point of pride for its founder, Anders Dale, PhD. “It has been an incredible journey founding and building this company, and today, partnering with both Genting Berhad and VILAS truly validates Cortechs’ position as a leader in the neurology and oncology quantitative imaging market,” said Dale. “Our innovation continues to advance, with growing demand from clinicians and patients alike for our cutting-edge technology. I am immensely proud of how far we’ve come, and even more excited for the future and the opportunities ahead.”
This capital infusion will accelerate the rollout of new product features, broaden Cortechs.ai’s commercial footprint, and drive ongoing research and development efforts. Built on the groundbreaking research of Professor Anders Dale, Cortechs.ai’s flagship products include NeuroQuant®, which plays a critical role in early diagnosis and monitoring of neurodegenerative diseases such as Alzheimer’s, and OnQ Prostate, a fast-growing tool aiding in prostate cancer detection.
Under Kyle Frye’s leadership, Cortechs.ai has been consistently growing in excess of 100% while deepening its engagement with current customers and expanding its offering to major healthcare organizations in the US and globally. Advising Cortechs.ai during this funding round was Uplift Partners out of Chicago, IL.
About VILAS Ventures VILAS Ventures is a healthcare-focused investment firm founded by Daniel Livschutz, a visionary entrepreneur with deep experience in healthcare technology and managed services. Drawing from a background that includes scaling multiple HIT companies to national prominence, Daniel founded VILAS Ventures with a commitment to supporting transformative healthcare enterprises while creating immense value for investors and stakeholders. As its inaugural investment, VILAS Ventures aims to deliver not only capital but also extensive operational support to portfolio companies. The firm’s team includes leaders across healthcare and technology verticals, including significant benefactors of healthcare transformation, health-tech executives, and serial entrepreneurs.
About Cortechs.ai Cortechs.ai is a leader in AI applications in radiology. Cortechs.ai uses cutting-edge technologies in medical imaging to revolutionize disease screening and early detection so patients can enjoy longer, healthier lives. The company develops and markets breakthrough medical device software that quantifies and tracks neurodegenerative diseases, and assists in the detection of clinically significant cancer. Cortechs.ai’s industry-leading brain imaging software provides radiologists, neurologists, oncologists, and clinical researchers worldwide with a convenient and cost-effective way to quantify brain structures for assessing Alzheimer’s disease, epilepsy, multiple sclerosis, brain trauma, and other brain abnormalities. The company has FDA-cleared products for use in helping the diagnosis and follow-up of neurodegenerative and traumatic brain conditions, as well as prostate cancer. Please visit www.cortechs.ai for further information and follow us on Twitter, LinkedIn, and Facebook.
SOURCE Cortechs.ai
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Led by Pantera Capital, the round will be used to elevate Monkey Tilt as the preeminent leader in gaming and entertainment
LAS VEGAS, Nov. 20, 2024 — Monkey Tilt, the platform pioneering a new era of entertainment and online gaming experiences, announced today $30M in Series A funding. Launched in March 2024, Monkey Tilt is pioneering the next frontier of gaming and bringing together the most trusted executives and voices across the industry to deliver an optimal, modern gaming experience.
The round, which closed this past summer, was led by Pantera Capital, with participation from Polychain Capital, PokerGo, Hack VC, Dream Ventures, Accomplice, Mirana, and Josh Hannah. This latest funding brings the total amount of capital raised to over $50M USD.
Monkey Tilt is an entertainment-first company that combines traditional casino experiences with improved social and lifestyle integrations. The company capitalizes on its multi-currency crypto payment infrastructure to accommodate wagering with a wide range of digital assets. The platform includes dealer-led craps, roulette, a 24/7 sportsbook, and more. In just under a year, Monkey Tilt has become a destination for both seasoned gamblers and rookie users alike who are eager to game in a more entertaining and engaging way, with like-minded individuals.
“The reality is this industry has failed to keep up with how people want to game, connect, and interact. Monkey Tilt was designed to completely upend what we think of as the traditional gaming experience,” said Founder and CEO Sam Kiki. “What we’re creating is immersive, engaging, and culturally relevant – and everyone is recognizing it.”
Coming out of launch earlier in 2024, Monkey Tilt has already generated a large and loyal following through an innovative product suite that blends traditional casino games, sports, poker and crypto all in one platform and brand.
“Monkey Tilt is pushing the online gaming world into a new era that’s heads and shoulders above the rest of the market,” said Ryan Barney of Pantera Capital. “Sam has already proven to be an authoritative leader in this space, and we’re so proud to back a platform that’s genuinely shaping the future of entertainment.”
Monkey Tilt is now looking ahead to an exciting 2025 that will include the launch of a new crypto trading gamified product in Q1 that will excite first-time and long time players alike. In its pursuit to innovate and deliver for players, Monkey Tilt will continue to push the boundaries of what is possible in online gaming.
About Monkey Tilt Monkey Tilt’s mission is to redefine how the world engages with gaming, leveraging the power of blockchain to enhance every aspect of the player experience. Monkey Tilt is more than gaming and entertainment —it’s a lifestyle brand that spans from fashion to media.
SOURCE Monkey Tilt
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New capital will drive continued global expansion to bring more insurers into the AI era
SAN FRANCISCO, Nov. 20, 2024 — Federato, the AI-native underwriting platform for insurance, announced today that it has raised a total of $80 million, including its latest Series C funding round. The $40 million round was led by global private markets investor StepStone Group (NASDAQ: STEP), with participation from existing investors, including Emergence Capital, Caffeinated Capital and Pear VC, who together represent over $200 billion in combined assets under management.
“We have been closely following Federato’s rapid growth over the past five years as an LP in several organizations who have been investors in the company since inception. Founders Will and William’s deep expertise in AI and their dedication to bringing a true vertical AI product to the insurance industry is impressive. Federato’s fast-growing customer base is a testament to the impact they’ve already delivered,” said John Avirett, Partner at StepStone Group. “We are excited to partner with Federato as they help insurers innovate on business models to better serve challenged markets.”
Federato’s RiskOps platform opens the door to a new era of underwriting for the industry. Insurers have confronted new challenges like climate change, cyber crime, and social inflation over the last decade, and AI is likely to define the winners and losers in the decade to come. RiskOps is about enabling an AI-first mindset that makes risk selection faster and more precise, teams more efficient, and growth more profitable and sustainable. Federato customers regularly see a 90% improvement in time-to-quote, 3x improvement in the proportion of good business bound, and 50-90% reduction in systems used by underwriters. These improvements across the value chain are fundamental to confronting these new challenges while staying efficient and competitive.
“When we started with Federato nearly three years ago, we were impressed by the modern underwriting platform they had built. Since then, Federato has become the core engine that powers our growth businesses here in North America. Today, we are leveraging the RiskOps platform as a unified core system for the entire policy lifecycle, from submission to quote, bind, and issue.” said Mike Foley, Chief Underwriting Officer, QBE North America.
As losses have grown more volatile and less predictable for the insurance industry, the volume of data insurers need to manage has grown faster than it can be organized and used. The combination of these forces has led many large players to pull back from challenged markets, citing a technical inability to effectively price risk. Federato’s AI-native RiskOps approach has been particularly impactful in helping insurers confront difficult markets like aviation, commercial trucking, political violence, wildfire, and hurricane while delivering strong baseline efficiencies to more traditional markets.
“Velocity is and always has been in the relentless pursuit of a more efficient operation that can serve the challenged coastal wind-exposed property market,” said Rod Harden, President, Velocity Risk, an MGA/carrier hybrid specializing in E&S property insurance. “In order to do that, we need an underwriting platform that can keep up with the complexity and speed of our business. Federato has delivered on those needs and pushed us to constantly iterate and improve on our processes, driving a 3.7x increase in the percentage of our bound policies that meet our definition of high appetite.”
While Federato already helps thousands of underwriters focus on the highest-value business across global carriers, MGAs, and mutuals, this funding will be used to drive Federato’s continued global presence in the UK, Europe, LATAM, and APAC markets.
On the round and its significance, Will Ross, co-founder and CEO of Federato said, “We couldn’t be more elated that our investors and customers feel the momentum of RiskOps in insurance the way we do. We see this financing as a milestone of continued progress and not an achievement in and of itself. That achievement lies in the value we are creating each and every day for our customers and the communities they serve. Onward!”
About Federato
Federato is bringing RiskOps to insurance to help underwriters win the right deals, faster. From the moment a submission hits an underwriter’s email or portal, RiskOps puts AI to work, triaging submissions with a focus on high-appetite business, delivering real-time feedback on the portfolio, and consolidating workflows into a single proven system. Federato delivers the transformation required to drive profitable growth, providing confidence that teams will stick to the plan, because their unique portfolio goals, strategies, rules, and appetite are built into the core system through which they transact business.
About StepStone
StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. As of September 30, 2024, StepStone was responsible for approximately $682 billion of total capital, including $176 billion of assets under management. StepStone’s clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.
SOURCE Federato
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SAN FRANCISCO, Nov. 20, 2024 — Poseidon Investment Management (“Poseidon” or the “Company”), a leading investment firm in the cannabis industry, today announced the close of a successful $6 million Series A funding round for Distru, the cannabis industry’s premier ERP platform. The latest funding round was made possible with the support of Global Founders Capital and marks a pivotal step forward for Distru as it strengthens its status as the premier system-of-record for cannabis operators.
Since its previous funding round led by Felicis with contributions from world class investors Elad Gil and Avichal Garg, Distru has seen significant growth and momentum. They are serving an increasing number of cannabis operators across 25 states and processing over $2 billion in GMV annually. The platform has become indispensable for cannabis businesses by simplifying compliance and inventory management, automating order workflows, and delivering actionable insights through advanced analytics.
“2024 has been a remarkable year for Distru, marked by efficient growth, achieving strong profitability, and significant product expansion through integrations with Metrc Connect, Dutchie, Treez, Blaze, and Leaflink. We are advancing our mission of consolidating cannabis operations under one platform, providing manufacturers, distributors, brands, and vertically integrated operators with a comprehensive toolset that enhances compliance, operational efficiency, and data-driven decision-making.” said Blaine Hatab, co-founder and CEO of Distru, adding, “We closed this strategic funding round to pull in Poseidon with their deep understanding of the cannabis tech sector to support in navigating the next decade of our growth as the most trusted ERP platform in the industry.”
The latest round of funding will be directed towards expanding Distru’s suite of products, further enhancing compliance, inventory, integration, and order management capabilities. While already profitably growing, the capital will help drive their expansion into 11 additional states, including New York with their Biotrack integration. By consolidating key operational tools into a unified ERP platform, Distru aims to become the backbone of cannabis businesses, empowering the platform to streamline operations, maintain regulatory compliance, and achieve sustainable growth in a complex and evolving market.
Poseidon Investment Management, known for its pioneering investments in the cannabis industry, has long supported technology companies that drive critical infrastructure for this industry. “Distru’s clear focus on supporting cannabis operators’ success and compliance, coupled with a robust and scalable platform, aligns with our commitment to backing transformative solutions in the sector. They have built the best in class Cannabis ERP and we see that advantage compounding over time,” said Morgan Paxhia, Poseidon Investment Management.
Distru is well-positioned to further its vision of becoming an end-to-end platform for the cannabis supply chain, driving digital transformation across cultivation, distribution, and retail. Distru’s commitment to operational excellence and industry-specific innovation makes it the ERP of choice for the cannabis industry’s most forward-thinking businesses.
About Distru Distru is a leading seed-to-sale ERP platform for the cannabis industry, offering comprehensive solutions for managing inventory, orders, and customer relations. Trusted by hundreds of licensees across the United States, Distru.com provides best-in-class Metrc integration and exceptional customer support, revolutionizing the way cannabis operators manage their businesses.
SOURCE Poseidon
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SEATTLE, Nov. 20, 2024 —Frazier Healthcare Partners(Frazier), a dedicated healthcare private equity firm, today announced the close of its latest flagship fund, Frazier Healthcare Growth Buyout Fund XI, L.P. (FHGB XI). FHGB XI was significantly over-subscribed, hitting its hard cap of $2.3 billion of limited partner commitments in six months. FHGB XI will focus on acquiring controlling interests in middle-market healthcare companies.
FHGB XI garnered strong support from a diverse group of global limited partners, which include prominent public pension funds, financial institutions, sovereign wealth funds, corporate pensions, family offices, foundations and endowments.
“We are humbled and deeply grateful for the long-standing support, trust and partnership from our existing limited partners, and the overwhelming interest from new investors, particularly given the challenging fundraising environment,” said Nader Naini, co-managing partner at Frazier. “We believe our more than 30 years of industry experience, healthcare focus and differentiated approach of pairing high-conviction themes with proven executives resonated with investors.”
Today, Frazier’s team includes 24 investment professionals who collaborate with executives and advisors to identify long-term trends across healthcare and develop highly curated investment theses. Frazier’s Center of Excellence (CoE), a dedicated portfolio operations team comprised of 22 experienced professionals, brings functional expertise in areas the firm believes are critical to promoting sustained growth.
“Frazier’s ability to identify emerging industry trends in advance of the broader market, and our thesis-driven Executive in Residence (EIR)-centric model, provide us with a distinct advantage,” said Ben Magnano, co-managing partner at Frazier. “Our sustained access to proven executive talent is paired with these investment theses to build sustainable healthcare companies that play into these themes. This fundraise reflects the trust we have built with our limited partners and our track record of developing category-leading companies while validating our unique healthcare investment strategy.”
About Frazier Healthcare Partners
Founded in 1991, Frazier Healthcare Partners is a private equity firm focused exclusively on the healthcare industry. Since its inception, Frazier has raised over $9 billion of capital for private funds and co-investment opportunities and has invested in more than 200 companies over 33 years. Frazier has a philosophy of partnering with strong management teams while leveraging its internal operating resources and network to build exceptional companies. Frazier is headquartered in Seattle, with an office in New York City (opening June 2025), and invests broadly across the U.S., Canada and Europe. For more information about Frazier, visit www.frazierhealthcare.com/growth-buyout.
SOURCE Frazier Healthcare Growth Buyouts
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Theo Ai finally delivers big data and actionable insights to the legal profession
PALO ALTO, Calif., Nov. 20, 2024 — Theo Ai, the first predictive AI platform for litigation, announces $2.2MM in pre-seed funding. The round was co-led by NextView and nvp capital with participation from Ripple Ventures, Beat Ventures, and SCVC Fund. Using a proprietary data model and prediction engine, Theo Ai helps legal professionals make educated decisions about the likely outcome of cases. The funding will be used to further enhance their prediction engine, expand practice categories, and accelerate customer growth.
Theo Ai Co-Founders (from right to left): Patrick Ip, Alex Alben, Tiago Luchini
With over 275,000 new lawsuits filed each day, choosing which cases to take is essential for the legal industry. The average mid-sized firm reviews roughly 650 cases per year, which can take anywhere between 7 to 30 days to manually review. With Theo Ai, that time is compressed into seconds – allowing legal teams to cover more ground and focus on winning cases. Led by Alex Alben (UCLA Law Professor and Tech Executive), Patrick Ip (ex-Google and UCLA Law MLS) and Tiago Luchini (4x CTO/Founder), Theo Ai is the first predictive tool to fully leverage the power of AI. Theo Ai enables customers to identify and predict cases with the highest odds of success, uncover cases they might have missed, and access case summaries and key financial drivers all in a single offering.
“With backgrounds in both law and tech, Theo Ai’s leadership team understands the complexities legal firms face and how to leverage advanced technology to address those challenges,” says Co-Founder and Partner at NextView, Rob Go. “Their experience allows them to build a platform that addresses the needs of the everyday economy and truly reflects the nuances of legal decision-making, giving customers a significant edge in strategy and case outcomes.”
“The legal industry is undergoing significant change and this technology will accelerate the drive towards efficiency and prediction analysis. Theo Ai is perfectly timed to address the increasing demand for next-gen B2B tools,” says Dan Borok, Managing Partner at nvp. “With a stellar team that has decades of expertise in both law and tech, Theo Ai is delivering the right solution when firms need it.”
“When the Ripple Ventures team first met the Theo Ai team, it was clear they had a deep understanding of customer workflows and pain points, rooted in their extensive legal expertise. Their vision for transforming the legacy legal industry with AI, combined with a proven track record as repeat founders, gave us strong confidence in their ability to execute,” says Dom Lau, Partner at Ripple Ventures.
The ability to accurately predict a case’s outcome is a game changer for legal professionals. By analyzing similar cases and likely arguments, Theo Ai’s data model estimates the probability of winning a case, in addition to predicting the estimated award. Early users of Theo Ai found that the platform’s algorithms verified the results of their underwriting and due diligence teams. With Theo Ai, firms have access to a data-driven pipeline using real-time analytics and predictive modeling as new facts and evidence emerge.
About Theo Ai Theo Ai is the first predictive engine designed by technical and legal professionals to forecast the outcome of legal disputes. Its AI models are trained on historical case data and incorporate real-time analytics with predictive modeling to deliver accurate and actionable insights. Theo Ai is meeting the most critical need for legal professionals – offering accurate case outcome predictions, backed by data. To learn more and join the waitlist for Theo Ai, visit: https://theoai.ai/#product
