Strategic Investment in Partnership with Snowhawk Accelerates Company’s Hyperscale Development Plans

LAS VEGAS, April 16, 2025 — CleanArc Data Centers (“CleanArc”), a developer and operator of renewables-focused hyperscale data center campuses, announced today that Townsend Group (“Townsend“), a leading advisor and partner to institutional investors globally, has made a strategic investment in the company. The investment was led by Townsend, who advises a consortium of global investors, including some of the largest sovereign and pension plans pursuing strategic stakes in leading investment and operating platforms. This new partnership further supports CleanArc’s growth initiatives as it continues developing its first data center campus in Virginia, set to deliver 300 MW of capacity by Q1 2027.

“We’re excited to welcome Townsend as a strategic investment partner,” said James Trout, Founder and CEO of CleanArc. “Their capital markets expertise, institutional knowledge, and private real assets scale will be instrumental as we execute on our mission to develop the data centers of the future, particularly our inaugural campus in Virginia, VA1. Townsend brings a demonstrated track record of supporting transformative businesses throughout their growth journeys. And with Snowhawk’s ongoing investment leadership, we’re well-equipped to continue tackling the growing data center challenges faced by hyperscalers.”

“CleanArc’s strong team of industry veterans and their shrewd approach to site selection, development and power structuring really sets them apart,” said Anthony Frammartino, CEO and Chairman, at Townsend. “We’re excited to support the company’s continued development of leading data center campuses across Tier 1 markets.”

Snowhawk LP will remain the majority stakeholder in CleanArc as the company continues to solidify partnerships with hyperscale customers and expand infrastructure in key markets.

“Snowhawk is delighted to partner with Townsend on this strategic investment in CleanArc, further accelerating innovation and the development of capacity to support the next generation of AI and cloud capabilities,” said Brian McMullen, Managing Partner and Co-Founder of Snowhawk Partners.

“CleanArc continues to set new standards in future-focused data center development,” added Greg Stamas, Managing Director at Snowhawk. “In partnership with Townsend and our other investors, we are excited to support CleanArc’s continued leadership in sustainability and renewable energy use.”

About Townsend Group
Townsend Group is a provider of global real estate and real asset investment advisory services. Townsend offers complementary investment management, advisory, and capital solutions via primary funds, secondaries, co-investments and direct investments. Townsend is an adviser to global public and private pension plans, insurers, sovereign wealth funds, endowments and foundations. Townsend has been advising and managing real estate portfolios for four decades and across multiple market cycles. As of September 30, 2024, Townsend had assets under management of $19.3B and as of March 31, 2024, provided advisory services to clients who had real estate/real asset allocations exceeding $237.9B.For more information, visit townsendgroup.com.

About Snowhawk
Snowhawk is a private investment firm that targets strategic majority investments in businesses that power the economy’s digital transition across cloud, connectivity and technology services. Founded in 2022, the Snowhawk team brings long investing histories and deep operating expertise in partnering with management teams to create strong performance and enduring value for companies, customers and investors. For more information, visit snowhawkpartners.com.

About CleanArc 
CleanArc is an innovative provider of first-of-its-kind, sustainability-focused data center development and operation solutions. With decades of experience in both the data center and energy sectors, CleanArc has assembled the critical components — scalability, renewable energy, and strategic data center production — under one arc for hyperscalers seeking to expand quickly, sustainably, and cost-effectively. Founded by industry veteran James Trout, CleanArc is led by a deeply experienced executive team who have designed, managed, or built 2 gigawatts of state-of-the-art data center facilities — but are unburdened by legacy business practices and dated approaches to the market. CleanArc is delivering the data center of tomorrow, today. To learn more, visit cleanarcdatacenters.com and follow us on LinkedIn.

For media inquiries, please contact:
JSA for CleanArc
+1 866.695.3629
[email protected]

SOURCE CleanArc Data Centers

Health-centric multifamily model from Avenue shifts paradigm of traditional retirement communities by focusing on proactive, wellness-centered living

ST. LOUIS and ST. CHARLES, Mo. and FARMINGTON, Ill., April 16, 2025 — As the nation’s groundswell of baby boomers continues to age, the U.S. faces a looming crisis of projected shortfalls in midmarket-priced housing.

Addressing this need is Viva Bene, a first-of-its-kind 55+ multifamily housing brand offering health-centric, community living at midmarket-priced rental rates. The first Viva Bene active adult property is hosting its grand opening today in the St. Louis suburb of St. Peters, Missouri. At nearly 200,000 square feet with 161 apartments, this development is the nation’s first to intentionally blend price-attainable housing with resort-style wellness amenities and preventive healthcare services. In the three months since its soft opening, it is 50% leased.

Viva Bene is the active adult brand from real estate development, construction and investment firm Avenue, a leading authority on maximizing real estate value to address society’s evolution in aging, consumerization and value-based care.

“We set out to create a model that empowers residents to live healthier, more fulfilling lives in a community offering opportunities for an engaging lifestyle and convenient access to preventive healthcare — and to do so at a price point far lower than most retirement communities,” said Laurie Schultz, co-founder and principal of Viva Bene and Avenue. “Viva Bene changes the ‘senior living’ paradigm by incorporating early access to care navigation and chronic care management. It’s about proactive prevention and infusing wellness into everyday life so people can thrive.”

In addition to providing readily available preventive healthcare, Viva Bene provides a holistic wellness hub with fitness, yoga and meditation classes, a fully appointed gym, healthy cooking workshops, and other wellness-focused experiential education. Residents can also use co-working niches and enjoy social engagement opportunities in comfortable gathering spaces and outdoor areas such as pools, pickleball courts and picnic areas.

Schultz cited U.S. Bureau data projecting 30% growth in the over-65 population through 2040 and American Housing Association data showing that 11% of those over 65 currently live in some form of senior housing. “According to Capital Economics, if this trend continues, demand for senior housing will grow 50% in the next 16 years. Healthier renters remain in their homes and our communities longer. I’m encouraged that more real estate investors are looking at senior housing, especially more price-attainable multifamily models,” she stated.

Missouri Economic Research and Information Center data shows that the number of senior citizens in Missouri is expected to increase 87% between 2000 and 2030 and, by that year, persons over age 65 will represent more than one-fifth of all state residents. A large number of these fall into the forgotten middle, those who don’t qualify for subsidized housing but can’t afford traditional senior living options.

Unique to the Viva Bene model is a third-party collaboration with Sevi Health for preventive health services. Viva Bene residents can opt to receive care navigation and chronic care management services from Sevi Health and also access primary care from the medical practice’s providers. Sevi Health engages directly with residents and bills insurers including Medicare Advantage plans.

According to Schultz, care navigators (clinical concierges) help residents traverse healthcare system complexities and embrace a more proactive approach to health. “Much of Sevi’s focus is to identify, address and reduce risks associated with chronic conditions,” she said. “If we are going to improve quality of life and save real dollars in the overall healthcare system, we must promote health among individuals as they enter the medical risk pool rather than waiting until later when many have multiple chronic conditions and require assistance with daily living.”

St. Charles Regional Chamber President & CEO Scott Tate said, “Many of today’s real-world needs are not being met with current senior housing models. We must seek new ways to help older adults live healthier, more fulfilling lives. We were fascinated when we first learned about this innovative apartment concept, and we’re thrilled to be the first municipal area delivering this attainably priced senior housing option.”

In describing the active adult model, Schultz emphasized that “instead of ‘aging in place’ in ‘needs-based’ environments, individuals ‘age well in place’ in ‘wants-based’ settings. Viva Bene extends on this by more fully integrating healthcare into 55+ housing.”

Viva Bene leases are based on each metropolitan area’s midmarket rental pricing. At its first site, Viva Bene St. Peters, one-bedrooms start in the $1,600’s per month. Garage parking and additional storage units are the only add-on fees. This differs from continuum-of-care communities where monthly prices average $3,450 and fees for buy-in models average $410,000.

Avenue is partnered with Greystar, the nation’s largest operator of apartments, to manage Viva Bene St. Peters. A nationally recognized leader in active adult, Greystar ensures its signature lifestyle programming includes a robust activities calendar to help residents stay physically, mentally and socially engaged.

About Viva Bene
Viva Bene offers the nation’s only 55+ multifamily community model that blends midmarket-priced rentals with resort-style amenities, social engagement opportunities and wellness services as well as integrated, preventive healthcare services. Unlike traditional senior living options, including communities with independent living, assisted living and skilled nursing, Viva Bene focuses on attainability and intentional design for residents to thrive and ultimately lead longer, healthier lives. https://www.vivabeneliving.com/

About Avenue
Avenue is an innovative real estate firm focused on residential and healthcare properties serving seniors and active adults. It coalesces a leadership team with 60+ years of collective experience in completing more than $8 billion of commercial healthcare and senior housing real estate projects. By vertically integrating development, construction and investment services, Avenue ensures the delivery of high-quality projects – on time and on budget. https://www.avenuedev.com

Images available on request.

SOURCE Avenue

Emerging biotech VC firm continues momentum after successful Tiger Gene debut

BOSTON, April 16, 2025 — 28 Capital, a next-generation life sciences venture capital firm co-founded by biotech entrepreneur John Boyce and venture capitalist Audrey Warner, today announced the launch of its newest platform. Focused on translating cutting-edge scientific discoveries into breakthrough therapies, the platform builds on the successful track record established under the firm’s original name, Tiger Gene.

Seeded by Tiger Management, the first venture gave rise to a portfolio of transformative biotech companies—including platform technologies in therapeutics, diagnostics, and synthetic biology. 28 Capital partners closely with academic founders, top-tier institutions, and PIs to identify foundational science and turn it into scalable, patient-focused businesses.

John Boyce and Audrey Warner first connected at Harvard University, where Boyce serves as a Harvard Fellow and teaches Entrepreneurship and Innovation. Their shared passion for building at the intersection of science and strategy led them to co-found 28 Capital—combining Boyce’s operational expertise with Warner’s experience in venture capital and commercialization.

“At 28 Capital, we believe the future of medicine is already sitting in academic labs—our job is to unlock it, scale it, and deliver it to patients,” said Boyce, Co-Founder and Managing Partner. “With this new platform, we’re doubling down on a model that combines hands-on company building with strategic capital to drive lasting impact.”

Boyce is a nationally recognized biotech innovator with more than $1.8 billion in aggregate exit value across his career. He has raised over $800 million in funding from venture capital, strategic partners, and private investors, consistently delivering high-velocity, high-return outcomes. In 2013, he was honored as one of the Top 15 Technology Luminaries in Massachusetts by the Boston Business Journal and Mass High Tech. He currently serves as Chairman of NanoMosaic and BrickBio, and Board Director of EnCapsid Therapeutics.

Audrey Warner, Co-Founder and Managing Partner, added: “We’re continuing to work side-by-side with world-class scientists to build companies from the ground up. It’s about more than capital—it’s about conviction, execution, and a deep commitment to patient outcomes.”

Warner, a Harvard alumna and former Varsity Women’s Ice Hockey player, brings deep expertise in venture capital, company creation, and corporate strategy and execution. Audrey has a strong track record of identifying promising scientific inventions and working alongside scientific founders to unlock and scale world-class technologies. She currently serves as Board Director of Valora Therapeutics, NanoMosaic, and EnCapsid Therapeutics, and Board Observer of BrickBio.

28 Capital will continue to co-invest with leading venture firms, strategics, and institutional LPs in its mission to accelerate breakthrough science into the clinic—and beyond.

About 28 Capital
28 Capital is a Boston-based life sciences venture capital firm focused on company formation and early-stage investing. Formerly known as Tiger Gene, the firm partners with leading scientists and academic institutions to build breakthrough companies addressing areas of significant unmet medical need. 28 Capital takes a hands-on approach to venture creation—working alongside founders from inception through scale. The firm is co-led by John Boyce and Audrey Warner.

28cap.com

media source:

[email protected]

SOURCE 28 Capital

SUNNYVALE, Calif., April 16, 2025 — Scout AI Inc. (“Scout”) today announced its emergence from stealth mode with a bold mission: to build the AGI brain for defense robotics. The company also unveiled an oversubscribed $15 million seed round led by Align Ventures and Booz Allen Ventures, and revealed it has been selected for multiple Department of Defense (DoD) contracts.

Founded in August 2024 by Colby Adcock and Collin Otis, Scout brings together deep experience at the intersection of AI, robotics, and defense. CEO Colby Adcock is a former tech private equity executive and current board member at humanoid robotics company Figure AI. CTO Collin Otis is a serial entrepreneur who previously was a founding engineer and Director of Autonomy and AI at Kodiak Robotics and Head of Data Science and Chief of Staff at Uber ATG. He has built autonomy systems from the ground up for both commercial and military platforms and previously sold a venture-backed startup to Target.

At the core of Scout’s breakthrough is Fury, a defense-specific Vision-Language-Action (VLA) foundation model engineered to transform every defense robot into an intelligent, autonomous agent. Unlike traditional robotics software, Fury is an embodied AI system — capable of perceiving the physical world, interpreting natural language, and issuing real-time motor commands to act decisively even in communication and GPS-denied environments.

“Achieving warfighter-level versatility in robotic systems requires grounding AI in physical reality,” said Otis. “By training our system on human-level behavior we make our AI embodied. Fury develops the kind of intelligence warfighters naturally have — situational, physical, and adaptive.”

What sets Fury apart from conventional language models is its ability to perceive, reason, and act across multiple modalities. It doesn’t just output text — it commands machines. Trained on large-scale real-world data, Fury brings multimodal reasoning and precision control to a wide spectrum of uncrewed systems: ground, air, sea, and space. It can be directed via natural language or fine-tuned for specific mission profiles, delivering human-like autonomy at machine scale.

Scout’s first two prototypes — the G01 unmanned ground vehicle and A01 unmanned aerial vehicle — are already operating autonomously powered by Fury at the company’s proving grounds in the Santa Cruz Mountains.

“Physical AI is the most decisive military advantage of the century,” said Adcock. “Our vision is one warfighter commanding many robots — seamlessly integrated into a unified team. That level of human-machine integration requires an AI brain like Fury that understands commander intent and can think, move, and collaborate like seasoned operators. That’s how we achieve true force multiplication.”

Scout is proudly planting its flag in Silicon Valley, building its team in Sunnyvale and pulling top AI and autonomy talent from the self-driving, big tech, and defense worlds to tackle this critical mission. “We’re bringing in the world’s best engineers to work on the world’s most important frontier — making sure this AI is built securely and responsibly for the good guys,” said Adcock. “Our adversaries are already building it. We must develop this technology and outpace them — and ensure the U.S. leads the future of intelligent defense systems.”

Scout is also taking a partnership-driven approach. Its Fury system is designed to be lightweight, modular, and hardware-agnostic — running on as little as a single commercial off-the-shelf camera and low-power inference chip, enabling rapid integration into existing and emerging robotic hardware systems. A growing list of robotics companies are partnering with Scout to embed Fury into their platforms, unlocking advanced autonomy without overhauling their hardware. Industry partners looking to learn more can reach out directly via [email protected].

“Our system is designed to make existing platforms intelligent, and we’re excited to be working with partners across the defense ecosystem to bring that capability to scale,” noted Otis.

Scout closed on its $15 million seed round, led by Align Ventures and Booz Allen Ventures, with participation from Draper Associates, Decisive Point Ventures, Perot Jain, Sigmas Group, Evolution VC, BVVC, Habitat Partners, Piedmont Capital Investments, FJ Labs, Revelry Venture Partners, Monte Carlo Capital, Expansion VC, and Gaingels.

To learn more, visit scoutco.ai.

SOURCE Scout AI Inc.

TOKYO, April 16, 2025 — EF Polymer, a deep-tech startup developing 100% organic super absorbent polymers, announced that it has raised JPY 1 billion (approx. USD 6.6 million) in the first close of its Series B round.

Founded with a mission to solve global water challenges and improve farmers’ livelihoods, EF Polymer has created a bio-based alternative to petroleum-derived absorbents, helping reduce water and fertilizer use in agriculture while improving yields. Its materials are also expanding into non-agricultural applications such as cosmetics and personal care.

Business Progress and Key Area of Focus

Accelerating Global Growth

Since launching sales in India in 2020, EF Polymer has delivered products to farmers across Japan, the U.S., and France, achieving over 400 tons in cumulative sales by 2025. Amid rising concerns over drought and fertilizer costs driven by climate change, global demand continues to rise, with commercial trials now underway in over 20 countries. To meet this demand, the company plans to strengthen operations in key markets while expanding into new sectors such as horticulture, landscaping, and urban greening.

Driving Green Transformation in New Industries

EF Polymer is also scaling its presence in non-agricultural markets. Recent projects include a biodegradable ice pack, co-developed with Iwatani Corporation, and absorbent sheets in partnership with Soken Chemical. Its polymer solutions offer a sustainable alternative to petroleum-based ingredients commonly used across industries, contributing to the green transformation.

R&D Focus Areas

EF Polymer will prioritize R&D efforts across the following areas:

• Raw material innovation: Diversifying sources beyond orange and banana peel
• Circular manufacturing: Building a closed-loop, sustainable production model
• Scaling production: Pilot and implementation of multi-site manufacturing
• New product development: Expanding polymer applications outside agriculture

Funding Overview

The funds raised will be used to accelerate R&D, expand business development activities, and establish a new overseas manufacturing facility.

Investors participating in the first close include Universal Materials Incubator (UMI) and MTG Ventures, Bank of the Ryukyus, Future Food Fund, and Shinryo Fund. EF Polymer plans to complete a second close this summer for the full Series B round.

Narayan Gurjar, Founder and CEO of EF Polymer said: “EF Polymer exists to solve water-related challenges and improve the lives of farmers. We believe our technology can create sustainable impact across many industries. This Series B funding marks a major step forward in scaling our solutions globally and building a truly circular, sustainable business. We’re excited to work with partners who share our vision and to continue creating long-term value for both society and the planet.”

About us

EF Polymer is a pioneering deep-tech startup focused on creating 100% organic super absorbent polymers (SAP) made from orange peels. Our product is designed to significantly benefit farmers and reduce production costs, particularly in water and fertilizer usage, while boosting crop yields. Beyond agriculture, we are expanding across industries to integrate our organic SAPs into a range of products, including ice packs and cosmetics. https://efpolymer.com/

SOURCE EF Polymer K.K.

BENTONVILLE, Ark., April 15, 2025 — NewRoad Capital Partners, an operator-led investment firm focused on high-growth supply chain and logistics, retail, and marketing technology companies, is pleased to announce that Vincent Love has joined the firm as Partner. In his new role, Vincent will be responsible for setting the investment strategy and driving all aspects of the investment process for NewRoad’s Consumer industry investments.

With more than 25 years of experience in the Consumer industry, Vincent brings a wealth of expertise in venture capital and private equity investing, investment banking, and operating businesses. His extensive background includes co-founding and serving as Managing Partner at Sunrise Strategic Partners, a growth equity investment firm specializing in emerging food and beverage brands within the healthy, active, and sustainable living space. The Sunrise portfolio included industry-leading companies such as PACT Organic, Kodiak Cakes, Maple Hill Creamery, Vital Farms, and Coolhaus.

Before co-founding Sunrise Strategic Partners, Vincent spent more than a decade at Citigroup, where he focused on the Consumer and Retail sectors, advising on over $40 billion in liquidity events. Vincent is also a successful Planet Fitness franchisee, owning five clubs in Colorado and Wyoming.

“We are thrilled to welcome Vincent to NewRoad,” said Chris Ladd, Partner at NewRoad Capital Partners. “Vincent’s deep experience in Consumer investing, particularly in the Food and Beverage sector, as well as his proven track record of building successful businesses, makes him an invaluable addition to our team. His entrepreneurial spirit and hands-on approach to growing companies align perfectly with the values and mission of NewRoad.”

NewRoad’s Consumer investments focus on partnering with companies that have substantial proof of concepts and are looking for an equity partner with deep operating experience and industry connections to accelerate growth. The firm targets investments in sectors such as Food and Beverage, Personal Care, and Multi-Unit Franchising.

NewRoad Capital Partner’s unique operating expertise, combined with its geographical location in Northwest Arkansas, gives it significant advantages in the Consumer sector. This includes deep relationships with Walmart, the world’s largest retailer. This access enables NewRoad to provide portfolio companies with key insights, executive talent, and unparalleled industry connections.

“NewRoad’s strong track record of growth and focus on value creation aligns perfectly with my passion for building businesses and helping founders achieve their visions,” said Vincent Love. “I’m excited to join this exceptional team and contribute to the continued success of NewRoad.”

NewRoad Capital Partners, which manages over $650 million across four funds, has a proven track record of success in consumer investments, including recent investments in Quinn and Kevin’s Natural Foods.

NewRoad Capital Partners, LLC (“NewRoad”) invests in high-growth supply chain and logistics, retail, and marketing technology companies. As experienced entrepreneurs and operators, the NewRoad team prides itself on the high level of collaboration it brings to each of its investments. NewRoad’s team of investment professionals, operating partners and strategic advisors have deep relevant investing and operating expertise, including significant experience leading large divisions of enterprise companies and building businesses of scale from concept to realization. For more information visit: https://newroadcp.com/.

SOURCE NewRoad Capital Partners

NEW YORK, April 15, 2025 — Zolve, the cross-border neobank simplifying banking for global citizens, has appointed former Kraken Exec John Trohan as its new Chief Financial and Administrative Officer (CFAO). In this role, John will lead Zolve’s global financial strategy and administrative operations as the company enters its next phase of growth.

Zolve offers a wide range of financial products designed to simplify banking for global citizens — including a bank account that can be opened from anywhere in the world in under five minutes, a high-limit credit card to help build a strong credit score, and tailored solutions for newcomers such as low-cost international money transfers, insurance offerings, auto and education loans, $50K student scholarships and more.

John brings over 30 years of global financial services leadership to Zolve. Most recently, he served as Global Treasurer and Credit Risk Officer at Kraken, one of the world’s most secure and established cryptocurrency platforms. His prior experience includes senior roles at MUFG, Americas as Treasurer and Chief Investment Officer of MUFG Union Bank, Barclays Group as Americas Treasurer, and Citigroup Inc., where he held several key finance leadership positions including International Client Group Global Treasurer and CFO for Nikko Citigroup Limited.

Raghu G, Founder and CEO of Zolve, said “John’s global retail and institutional banking experience across finance, risk management and investments is a strong addition to the team and I look forward to partnering with him as we grow Zolve into a preeminent cross border banking solution provider. As we build and lead the next phase of growth for the company, we will continue hiring exceptional talent across teams“.

“Zolve is transforming and scaling rapidly,” said Trohan. “There is a great opportunity to provide access to credit and financial services for those stymied by legacy financial infrastructure and I am excited to help Zolve drive this forward.”

Zolve has raised USD $251 million in a Series B round to scale its mission of serving global citizens working and studying abroad. The round was led by Creaegis, with participation from HSBC, SBI Investment, GMO Venture Partners, DG Daiwa Ventures, and existing investors Accel, Lightspeed, Sparta Group, and DST Global. The fundraise also includes a warehouse line from Community Investment Management to fuel its expanding credit portfolio globally.

SOURCE Zolve

Growth Equity and Late-stage Venture Capital Firm is Dedicated to Improving Patient Outcomes Through Partnerships with Best-in-Class Teams and Medical Technologies

CHICAGO, April 15, 2025 — SPRIG Equity, a growth equity and late-stage venture capital firm focused on advancing patient care through investment in transformative medical technologies, today announced the final close of its inaugural fund, SPRIG Equity Fund I, with $50M in assets under management (AUM). With offices in the Chicago area and Orange County, CA, SPRIG Equity invests in breakthrough innovations across the medical technology sector, including medical devices, diagnostics, and tech-enabled services.

“We are incredibly proud to have successfully closed our inaugural fund, especially in a year when first-time funds accounted for just 6% of total fund closures,” said Evan Norton, Managing Partner and Co-Founder. “This achievement reflects the strength of our investment strategy, proprietary deal sourcing, and our team’s expertise in identifying and building great companies that can transform patient care while delivering exceptional returns.”

SPRIG Equity is led by Managing Partner Evan Norton, whose proven investing track record includes leading Abbott’s corporate venture group for almost a decade. He co-founded the fund alongside Rebecca Raabe, an experienced MedTech investor and operator, and Katie Arnold, the CEO and founder of SPRIG Consulting, a leading medical technology strategy and commercialization consulting firm. The team is further supported by an accomplished advisory board of industry entrepreneurs, senior executives, and thought leaders. A key differentiator for SPRIG Equity is its off-market deal flow from its exclusive relationship with SPRIG Consulting.

SPRIG Equity has already demonstrated strong momentum with four portfolio investments to date:

• SetPoint Medical: medical device company with a first-of-its-kind neuromodulation therapy for patients living with chronic autoimmune conditions
• Conformal Medical: clinical-stage company developing next-generation left atrial appendage occlusion technology for stroke prevention
• Pi-Cardia: commercial-stage company focused on leaflet modification technologies in the structural heart market
• Cytovale: commercial-stage company offering rapid sepsis diagnostic technology for hospital emergency departments

About SPRIG Equity
SPRIG Equity is a growth equity and late-stage venture capital firm dedicated to improving patient outcomes by partnering with best-in-class teams and medical technologies. Launched in 2023, SPRIG Equity actively invests in late-stage opportunities across the medical technology sector. The team has a history of successfully backing market-shaping companies, including Affera, NeuroPace, Vertos, Endosense, Tendyne, and more. For more information, visit https://sprigequity.com.

SOURCE SPRIG Equity

CHAPEL HILL, N.C., April 15, 2025 — Well, a leading innovator in AI-driven health engagement, has secured $30 million in additional funding. This investment propels Well’s total funding to over $150 million, to help fuel the expansion of Well’s AI platform, enhance operational capabilities, and further enable the company to proactively predict and address emerging health risks within employee populations. The funding round was supported by new strategic partners and existing lead investors from previous rounds of funding. 

“Well’s phenomenal engagement metrics—averaging 300 interactions per member annually, with a striking 25% of our users engaging daily—clearly demonstrate the platform’s power and intuitive design. But the real story is in the results. We’re seeing 90 Net Promoter Score (NPS) and tangible 5%+ improvement in critical Healthcare Effectiveness Data and Information Set (HEDIS) measures across diverse Fortune 500 populations, proving that our personalized approach isn’t just user-friendly, it’s life-changing impact for many of our members,” said David Werry, Co-Founder & President of Well.

The investment will be used to enhance several key areas:

• Expansion of AI Capabilities: Further development of Well’s AI algorithms to analyze real-time health data, deliver precise and highly targeted daily interventions and incentives to anticipate and address individual health needs.
• Improved Concierge Support & Rapid Innovation: Enhance its whole-person, concierge services provided by Well Guides (nurses, pharmacists, social workers, nutritionists, and billing experts) and expand its Intervention Design Lab, facilitating rapid testing and deployment of new engagement strategies, keeping pace with shifting employee needs and business priorities.
• Enhanced Risk Prediction: Strengthening advanced analytics to detect emerging risk patterns, allowing employers to proactively address rising health costs and long-term medical trends before they escalate.

This significant investment underscores the growing recognition of Well’s potential to revolutionize employee health and well-being. Unlike traditional approaches, Well focuses on the “N of 1,” tailoring interventions, incentives, and existing benefits to each employee’s unique needs.

“Well translates the complexity of each individual into clear, personalized daily actions, delivered through a sophisticated engagement platform that works relentlessly to empower employees to take control of their health and helping employers create healthier, more productive workforces,” said Gary Loveman, Co-Founder & CEO of Well.

Learn more about how Well can transform your employee wellness program by visiting https://www.well.co/.

About Well

Well is a dynamic health engagement system on a mission to be the world’s most effective partner in advancing individualized health. The company tackles one of the biggest challenges in healthcare: helping people take the actions proven to improve their health, ultimately reducing costs and driving better outcomes.

By serving as a daily health partner, Well proactively engages members in their highest-priority health opportunities while boosting benefits utilization, optimizing spend, and positioning HR as a strategic driver of workforce health and performance.

Headquartered in Chapel Hill, N.C., Well also has offices in Newton, Mass., Minneapolis, and New York City.

Contact: [email protected]

SOURCE Well