BOSTON and LOS ALTOS, Calif., May 15, 2025 — Mendoza Impact, a Boston-based nonprofit, made a $250,000 investment into Prosperos, a fintech startup that is bringing financial access to the Latino market. Founded by Silicon Valley startup veterans Vinay Pai and Salvador Chavez (both formerly of Bill.com), Prósperos is revolutionizing capital inclusion by treating all American workers as firstclass customers with bank accounts and credit cards from day one. Mendoza Ventures joins FEBE Ventures, BAT VC, Tekton Ventures, and Courtyard Ventures in supporting Prósperos.
“We are so excited to support the Prosperos team. Financial access at all levels is the bedrock for a healthy economy, and Prosperos is already delivering on that promise in the early stage. Any family making a wage deserves financial inclusion, and real impact is getting all American workers the financial mobility to grow into our economy.” – Mendoza Impact founder Senofer Mendoza
“With Prósperos, our customers have access to bank accounts with no minimum balances, no monthly fees, and no fees for depositing their paychecks or using their credit card for payments. With our financial platform, a family can save over $1000 each year in fees for banking services.” – Vinay Pai, CEO and Cofounder, Prósperos.
“As the son of immigrants, I saw firsthand how lack of financial access holds families back. My father had to pay over 10% of his wages just to cash his checks and send money home to our family in Mexico. With Prósperos, we have the opportunity to change that—to help Latinos save their hard-earned money, build credit, and take meaningful steps toward financial security and opportunity.” – Salvador Chavez, COO and Cofounder, Prósperos.
In a year known for sluggish capital deployments, this stands out as a break from the norm and a call to action for investors to stand up to support new founders. As the first check from the nonprofit born out of Mendoza Ventures’s best practices, this sets the tone for a strong impact framework for Mendoza Impact.
Prosperos
Prósperos leverages modern financial technology with a vision of delivering a simple, convenient mobile financial platform to the 400M Latinos in the Western hemisphere. Say goodbye to fees for cashing checks and sending money. And say hello to a platform that allows you to build a prosperous financial future for your family. Together, we will all prosper. Welcome to Prósperos!
Mendoza Impact
Mendoza Impact was started as the philanthropic arm of the Mendoza family. Having deployed over $30M to successful diverse founders through their VC fund Mendoza Ventures, they believe that the funding discrepancy isn’t a pipeline problem– it’s a capital commitment problem. As a result of this gap in commitments, in 2023 they founded Mendoza Impact to create opportunity for all Americans by empowering and funding the next generation of founders, funders, and fellows to impact their communities. Mendoza Impact is a registered 501(c)(3) Non-Profit.
Deal brings AI-powered platform and top-tier talent into 1848 Ventures, strengthening its vertical SaaS strategy and unlocking growth in the $500B+ skilled trades market.
WESTFIELD CENTER, Ohio, May 15, 2025 — 1848 Ventures, an AI-first venture studio building SaaS solutions for small and medium-sized businesses (SMBs) in the US, today announced the acquisition of Luminest, an AI-powered home management startup focused on predictive maintenance and structured property data. The acquisition marks a major milestone in the evolution of 1848 Ventures—from a venture builder to a full-spectrum venture creation platform with the capability to acquire, integrate, and scale strategically aligned companies. This is the first acquisition in the studio’s history and signals a broader expansion of its investment strategy.
Luminest’s proprietary AI models and structured data infrastructure will be integrated into 1848 Ventures’ efforts to solve demand generation and job quality challenges facing specialty contractors and skilled trades professionals.
“This marks a turning point for 1848 Ventures,” said Kal Amin, 1848 Ventures’ Managing Partner. “As the venture landscape continues to evolve, so will 1848 Ventures. We’re not solely focused on building companies from the ground up. We’re assembling high-signal platforms, top-tier talent, and proprietary technology to solve the most pressing problems facing SMBs. Luminest brings all three, allowing us to accelerate key initiatives already underway within our venture studio.”
With this deal, Luminest founder Jateen Parekh and founding engineer Adam Kay will join the 1848V team. Parekh joins 1848V as Venture Leader and was most recently Executive Vice President of Ad Technology & Platforms at iHeartMedia. Earlier in his career, he was the first employee at Lab126, where he was responsible for building the original Amazon Kindle product, team, and platform—playing a key role in one of Amazon’s most iconic hardware and software launches.
Kay joins 1848V as Engineering Lead and is a seasoned full stack engineer with experience at ControlZee, iHeartMedia, Jelli, and Midway Games, where he specialized in engineering innovation and rapid prototyping. He has collaborated with Parekh on special projects for over a decade, bringing a strong, time-tested dynamic to the leadership team.
“We’ve always believed that combining individualized property data with proprietary models and applied data science could fundamentally reshape how services are matched and delivered,” said Parekh. “With 1848 Ventures, we now have the platform, resources, and strategic alignment to bring that vision to life.”
The acquisition gives 1848 Ventures a head start in the $500B+ skilled trades and property services market—a highly fragmented and underserved sector where AI adoption is accelerating. It also marks the first execution of 1848V’s strategic investment thesis: to compound venture creation with targeted acquisitions that enhance speed, talent, and defensibility.
“We’re designing a venture platform with range—where we can build from zero, scale with speed, and integrate innovation when it makes strategic sense,” said Amin. “Luminest fits this model perfectly: high-caliber talent, differentiated technology, and alignment with where we believe the market is going.”
About 1848 Ventures:
1848 Ventures is building the operating system for SMB transformation—venture by venture, acquisition by acquisition. Backed by Westfield, 1848V builds, funds, and scales AI-native SaaS companies designed to help SMBs thrive in a rapidly evolving economy. To learn more about 1848 Ventures and its portfolio, visit www.1848ventures.com.
ChristianaCare, Kettering Health, Medical University of South Carolina, Lurie Children’s Hospital of Chicago, MedStar Health, Sharp HealthCare, others join Abundant platform to build high value, sustainable companies that benefit healthcare providers.
CHICAGO, May 15, 2025 — Abundant Venture Partners announces the launch of the Abundant Platform to grow high value, sustainable companies that benefit healthcare provider organizations. The platform accelerates commercialization through the Abundant Venture Studio, ensures rapid adoption via the Abundant Alliance of healthcare providers, and drives scale with aligned, provider-backed seed and series A venture funds.
“Health systems have taken unnecessary risk and haven’t been rewarded adequately for their work with early stage ventures,” explained Harry Kirschner, Chief Executive Officer, Abundant Alliance. “After decades of reacting to the market and choosing what new innovations to ‘bet on,’ healthcare providers can now be in the driver seat and work closely with their peers to de-risk and accelerate the operational and equity impact from work with early stage ventures.”
Health system members of the Abundant Platform play a pivotal role as co-developers, early adopters, and aligned owners, and are rewarded threefold for their participation. “We came to Abundant with a concept and IP that demonstrated great outcomes at our health system, yet we knew it had broader potential,” said William Sheahan, Chief Innovation Officer, MedStar Health. “Abundant uniquely positioned us to explore and launch a new company with other providers signed on as co-developers, investors, and customers.”
Abundant only backs companies that have been vetted to address critical challenges that drive sustainable value and create equity earning opportunities for healthcare providers. “Our partnership with Abundant has accelerated our health system’s efforts to get more involved with evaluating and adopting ‘outside-in’ solutions with demonstrated outcomes while also creating a platform for our internal teams to focus our ‘inside-out’ innovations on capabilities with broader appeal,” said Michael Gentry, Chief Executive Officer, Kettering Health. “It’s great to be part of a collaborative where health systems drive the strategy and stand to reap the benefits.”
“Health systems are more than just providers of medical care—they are the backbone of their communities, fostering economic stability and innovation,” said Leo Brubaker, Managing Partner, Abundant Venture Partners. “The Abundant Platform enables health systems to take an active role in shaping the future of healthcare—creating and scaling solutions that not only improve patient outcomes but also strengthen the communities they serve.”
Abundant plans to select up to ten additional healthcare provider organizations to join the Alliance and is actively reviewing early-stage startups and entrepreneurs for Platform evaluation. To learn more or apply, visit abundantventurepartners.com.
ABOUT ABUNDANT VENTURE PARTNERS
Founded in 2011, Abundant Venture Partners has developed a collaboration platform that grows high value, sustainable companies to benefit healthcare providers. The platform accelerates commercialization through the Abundant Venture Studio, ensures rapid adoption via the Abundant Alliance of healthcare providers, and drives scale with aligned, provider-backed seed and series A venture funds. Through a unique combination of aligned ownership, capital efficiency, and focus on strategic impact, Abundant is directing more than $80 billion in healthcare provider buying power toward opportunities that shave years and millions of dollars off the traditional healthcare innovation process. To date, the firm has made 36 investments and founded 19 companies.
Backed by industry heavyweights and fueled by a team of leading OpenAI scientists, Google designers, plus Pixar and Sony animators, and Riot games developers, Cartwheel’s suite of 3D animation tools bridges the massive gap between creative vision and technical execution, making the entire process 100X faster, easier and more accessible than ever before
NEW YORK, May 15, 2025 — Cartwheel, a company propelling animation into the future, today announced its highly anticipated suite of 3D animation AI tools is now available to the public. Emerging out of closed beta, where the company amassed over 60,000 creatives on the waitlist alone, Cartwheel’s new suite of tools powers up professionals and welcomes anyone who has ever wanted to try 3D animation by removing technical bottlenecks so users can focus on story and performance, and making it 100 times faster, easier and more accessible than ever before.
Cartwheel’s highly anticipated suite of 3D animation AI tools unlocks a world of storytelling opportunities for games, movies, social media and advertising.
“Like what the iPhone did for photography, we believe Cartwheel will do for animation,” said Jonathan Jarvis and Andrew Carr, Cartwheel’s Co-founders. “We’ve developed a new way to simplify the animation process, putting creatives in the drivers’ seat as they dramatically accelerate their workflows, eliminate tedious tasks, free up budget for more creative exploration, and enhance control over their final products. It’s a game-changing approach for people across industries and we’re beyond excited about its potential to transform the future of animated film, anime, gaming, advertising and storyboarding, social media and more.”
Leveraging advanced technology, Cartwheel turns video, text and large motion libraries into production-ready 3D character animations that are easy to move, edit and download directly into current workflows. Professional animators can rapidly prototype ideas in any 3D format, make major refinements or subtle tweaks using Cartwheel or their preferred 3D software, and unlike other generative tools, eliminate disruptive changes to their existing pipelines. Animators can also access Cartwheel’s robust library and quickly find a motion to fit or inspire their scene, while more novice creators can swiftly generate video clips, and designers and developers can turn their character animations into files that can simply be dropped into their apps or websites.
Cartwheel’s unique formula of eliminating hours of repetitive work, and in turn, opening up time to explore more in-depth story telling, has made the company a hotbed for some of the most respected talent across industries. This includes the company’s co-founders Andrew Carr, Cartwheel’s Chief Scientist and former scientist at OpenAI who built code generation for codex and chatGPT and Jonathan Jarvis, Cartwheel’s CEO and former director at Google, where he was a founding member of the Google Creative Lab and launched a wide array of new products and features for Google Brain, Search, Android, and Workspaces, as well as led animation studio Universal Patterns. It also includes a diverse team of creative luminaries from Riot Games, Sony, Unity and more.
Joining its team is Catherine Hicks, former animation director for Pixar known for her incredible work on over 15 movies including the Oscar winning teams for Inside Out, Coco, Toy Story 3, as the company’s new head of animation innovation and Neil Helm, who was heralded for his creative vision and deep understanding of motion at Pixar, working on Inside Out 2, Turning Red, Lightyear, and Toy Story 3 & 4, as its new head of interactive animation.
The company’s layered experience across a variety of creative disciplines has also attracted a number of influential backers. This includes a fresh $10M round (bringing total funding to $15.6M), led by Craft Ventures, along with Jeffrey Katzenberg’s WndrCo, Ben Feder’s Tirta Ventures and Runway, and with participation from existing investors Accel, Khosla and Human Ventures. Cartwheel will use the infusion of new funds to continue to train its motion models, attract new talent, and ramp up marketing efforts to get the word out.
“Animation is fundamental to the biggest, most beloved entertainment franchises and experiences in the world. Cartwheel will help animators to expand the frontier of what is possible,” said Lainy Painter Singh, partner at Craft Ventures. “We believe the next decade will see animators create experiences and worlds that people today only dream of, while welcoming in an entirely new, much larger generation of creatives to the art.”
“Cartwheel has changed the entire paradigm of animation by introducing a new toolset that builds on the artistry of animation, making productions more efficient so more stories can be told,” said Ben Feder, Managing Partner at Tirta Ventures. “Where concepts could take days, weeks, or months to visualize, Cartwheel’s technology makes the process virtually instant, unleashing an entirely new world of storytelling possibilities in video, games, advertising and many other sectors. We are proud to be investors in Cartwheel and look forward to enabling today’s developers to benefit from this groundbreaking technology.”
Cartwheel’s launch comes at a time when indie animators and game designers are looking for new ways to share their stories at a fraction of the cost of using traditional animation tools. To battle test its viability, while in closed Beta, Cartwheel was used by creatives from top companies including: Dreamworks, Duolingo, Sony, Roblox and more, who were all eager to see if they could integrate Cartwheel’s tools easily into their workflow. The results were clear, with many reporting that Cartwheel integrates smoothly into existing workflows and offers new ways to experiment, iterate, and animate faster.
For more information about Cartwheel and how to access its free suite of tools please visit: https://getcartwheel.com/
About Cartwheel
Cartwheel is a new way to make 3D animation for games, movies, ads, and more. Founded in 2023 and built by industry veterans from OpenAI, Google, Pixar, Sony, and Unity, the company’s suite of tools makes the entire animation process 100x faster, easier, and more accessible – from start to finish – whether you are a seasoned professional or just starting out. For more information about Cartwheel, please visit: www.getcartwheel.com
Funding will support a randomized Phase 2B study of the novel sonodynamic therapy in patients with newly diagnosed glioblastoma
CHANHASSEN, Minn., May 15, 2025 — Alpheus Medical, Inc., a private, clinical-stage oncology company pioneering sonodynamic therapy (SDT) for the treatment of solid body cancers, today announced the closing of an oversubscribed $52 million Series B financing round. The funds will support a Phase 2B randomized controlled trial (RCT) evaluating the efficacy of SDT in patients with newly diagnosed glioblastoma (GBM) – one of the most aggressive and deadly forms of brain cancer.
“The complex and diffuse nature of glioblastomas has long hindered therapeutic innovation,” said Conrad Wang M.D., Partner at HealthQuest Capital. “Alpheus’ sonodynamic therapy represents a novel, non-invasive whole brain approach with compelling early data. This investment reflects our commitment to advancing transformative technologies that seek to fill critical gaps in patient unmet needs.”
Alpheus’ platform delivers non-thermal, tumor-selective therapy activated by low-intensity diffuse ultrasound (LIDU™) with oral 5-aminolevulinic acid (5-ALA). Without the need for imaging or sedation, this combination selectively targets and destroys cancer cells across the entire brain hemisphere. This novel treatment option is performed in an outpatient setting. Promising early results from two studies highlight the potential of SDT therapy in both newly diagnosed and recurrent glioblastoma patients.
“This investment is a key inflection point for Alpheus and the glioblastoma community – advancing sonodynamic therapy from promise to clinical validation,” commented Vijay Agarwal, MD, FAANS, FCNS, President and CEO of Alpheus Medical. “With this support, we are poised to generate pivotal evidence that could help establish a new standard of care for newly diagnosed brain tumors.”
About Alpheus Medical, Inc.
Alpheus Medical is a private, clinical-stage oncology company developing a groundbreaking, non-invasive treatment for solid tumors utilizing sonodynamic therapy (SDT). Its proprietary platform combines Low-Intensity Diffuse Ultrasound (LIDU™) with oral 5-aminolevulinic acid (5-ALA), a sensitizing agent that selectively accumulates in tumor cells. This targeted approach aims to destroy cancer cells while sparing healthy tissue. Alpheus collaborates with global leaders in neuro-oncology and is supported by top healthcare investors and the venture vehicles of nonprofit organizations focused on cancer. Learn more at www.alpheusmedical.com.
About HealthQuest Capital
HealthQuest Capital is a private asset firm that provides capital to transformative healthcare companies. HealthQuest Capital focuses on commercial prospects that drive enhanced patient outcomes and elevate the efficiency of healthcare delivery. With approximately $2 billion in capital under management, the firm focuses on fostering innovation across the healthcare spectrum, including medical technologies, diagnostics, digital health, and innovative services. The HealthQuest Capital team combines decades of investing experience with domain expertise in the various aspects of the healthcare industry. For more information, visit www.healthquestcapital.com.
About Samsara BioCapital
Founded in 2017, Samsara BioCapital is a leading biotech investment firm focused on identifying opportunities across public and private markets. Samsara invests across the full spectrum from early-stage start-up to late-stage clinical assets with a focus on companies that will have a significant impact on patients and address high unmet medical needs. Samsara works with entrepreneurs and top-tier management teams that they believe will have a meaningful impact on innovative therapeutics. The Samsara team has deep expertise in biotech with significant experience working together prior to founding the firm. The team is led by Srinivas Akkaraju, who has over twenty-two years of industry experience and has an MD and a PhD in Immunology from Stanford University.
Series A funding led by AE Ventures; Margo de Naray joins Solestial as CEO
TEMPE, Ariz., May 15, 2025 — Solestial, Inc. (“Solestial”), the solar energy company for space, today announced a significant milestone with the closing of its $17M Series A funding round led by AE Ventures. The round welcomed new investors Crosscut Ventures, Zeon Ventures, and Mitsubishi Electric Corporation’s ME Innovation Fund (general partner: Global Brain Corporation), with participation from existing investors Airbus Ventures, General Purpose Venture Capital, Industrious Ventures, Stellar Ventures, and Techstars.
The Series A funding enables Solestial to continue scaling its manufacturing capacity of silicon photovoltaics to 1 megawatt per year, a rate comparable to the estimated annual manufacturing capacity of all US and EU III-V space solar companies combined.
Alongside the raise, Solestial also announced the appointment of Margo de Naray as Chief Executive Officer. De Naray, formerly Senior VP & GM of Space Products and Services at Astra, brings 20 years of extensive commercial and operations management experience in growth and high-tech environments. Founding CEO, Stanislau Herasimenka, will assume the role of Chief Technology Officer to focus on advancing the company’s product roadmap and rapidly scaling operations technology.
“We are thrilled to welcome Margo to lead Solestial into its next chapter,” said Herasimenka. “This transition allows me to continue developing our cutting-edge technology, while Margo brings additional strategic leadership and operational experience to deliver at scale.”
De Naray joins Solestial amid strong momentum. “We’re seeing tremendous market demand, and we are focused on delivering high-quality products,” she said. “We’re hiring, scaling production, and qualifying our technology, which is already deployed on multiple missions in space.”
“Space solar is a critical bottleneck in a rapidly growing industry with an ever-expanding set of missions—from national security to lunar exploration,” said Beckett Jackson, Partner at AE Ventures. “Solestial is uniquely positioned to serve spacecraft manufacturers with mass production of a lightweight, radiation-hardened solution at lower cost and a fraction of the lead time of the current standard.”
The only space solar manufacturer with demonstrated ability to self-heal radiation damage, Solestial offers spacecraft manufacturers the ability to significantly reduce cost and weight without sacrificing energy needs or performance.
“Solestial continues to revolutionize low-cost, lightweight solar power for space. Stan’s continued focus on the technical breadth of Solestial products and Margo’s new addition as a leader of the team are the ingredients to unlock the next phases growth and success,” said Mat Costes, Partner at Airbus Ventures. “We are also thrilled to welcome new investors and see investors from the seed round returning, collectively signifying what we all know—the market applications for this technology are robust, fast accelerating, and Solestial is ready to meet market demand.”
“Our colleagues at Mitsubishi Electric Corporation have been working with Solestial for a number of years to evaluate the potential of Solestial’s technologies,” said Komi Matsubara, Executive Officer (Associate), Vice President, Business Innovation at Mitsubishi Electric Corporation. “We see tremendous potential in Solestial’s technology and are pleased to deepen the relationship and support their development.”
With strong customer demand, Solestial has prioritized scaling production. Since opening its Tempe, Arizona manufacturing facility in 2023, the company has added square footage each year, more than doubled its workforce, and delivered commercial products to dozens of companies.
About Solestial
Solestial exists to deliver abundant energy in space. The company’s breakthrough technology is a silicon solar cell engineered for space to self-cure radiation damage under sunlight at operating temperatures as low as 65°C. Solestial solar cells are packaged in an ultrathin, low-mass, flexible solar power module designed to withstand up to 10 years in a variety of destinations in space. The flexible solar power modules can be produced on automated machines resulting in costs lower than traditional III-V multijunction solar products.
From today’s satellite constellations and research projects to tomorrow’s lunar settlements and services in space, Solestial’s innovative technology represents a paradigm shift for space solar; an affordable, scalable solution to power sustained development. Solestial is a US company manufacturing solar cells and flexible solar power modules in Tempe, Arizona. To learn more, visit the Solestial website and follow Solestial on social media.
About AE Ventures
AE Ventures is the venture capital platform of AE Industrial Partners, a private investment firm with $6.4 billion of assets under management, focused on highly specialized markets including national security, aerospace and industrials. AE Ventures has completed over 50 investments in early-stage companies that benefit from the deep industry knowledge, operating experience, and network of relationships across the sectors where the firm invests.
About Airbus Ventures
Airbus Ventures operates in service of deeptech entrepreneurs who are inspired to design, build, and service complex engineering products capable of unlocking entirely new economies.
About Mitsubishi Electric Corporation
With more than 100 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Mitsubishi Electric enriches society with technology in the spirit of its “Changes for the Better.” The company recorded a revenue of 5,257.9 billion yen (U.S. $34.8 billion*) in the fiscal year ended March 31, 2024. For more information, please visit www.MitsubishiElectric.com.
*U.S. dollar amounts are translated from yen at the rate of ¥151 = U.S. $1, the approximate rate on the Tokyo Foreign Exchange Market on March 31, 2024.
Row Zero, The Enterprise Spreadsheet, Raises $10M in Seed Funding
SEATTLE, May 15, 2025 — Row Zero, the enterprise spreadsheet built for big data and security, announced a seed round of $10M, led by IA Ventures, with participation from Trilogy Equity Partners, Founder’s Co-op, Ludlow Ventures, K9 Ventures, Functional Capital, and Wes Mckinney. The company had previously raised $3M, bringing its total funding to $13M. Founded by former AWS employees, Breck Fresen and Nick End, Row Zero was born out of their frustration doing data analysis on big datasets while working at Amazon. Row Zero opens billion row datasets (Excel has a 1,048,576 row limit), automatically updates from connected data warehouses, and supports enterprise security controls.
Row Zero Spreadsheet Screenshot
According to CEO, Breck Fresen, “for 20 years BI tools have been selling the promise of self-serve analytics but the first thing business teams do when visiting Tableau or PowerBI dashboards is click ‘export to CSV’ so they can open the file in Excel. The spreadsheet is still the number one data analysis tool but data set sizes have outgrown the capabilities of traditional spreadsheets, data has moved to the cloud, and locally stored data is a huge security risk.”
While their website touts customers ranging from small startups to large corporations, Row Zero says most of their use comes from fortune 500 companies who need a spreadsheet for their business teams and want to eliminate the security risk of CSV exports from BI tools. Marc Millstone, Director of Platforms, Infrastructure, and Security at Flexport says “Row Zero is a simple, easy to use spreadsheet-based interface for working across multiple Snowflake tables, containing millions of rows each. We no longer need to manually copy data between systems and have shifted our weekly reporting from Google Sheets. Flexport is a leader in global logistics, and sophisticated big data analytics are a big part of our culture.”
Unlike traditional spreadsheets that run on a user’s laptop, Row Zero runs in the cloud, making use of the larger compute, memory, and connectivity resources. The spreadsheet connects directly to data warehouses, like Snowflake, Databricks, Redshift, and BigQuery, enforces row level security, and has the ability to restrict data export, eliminating locally stored data. “Row Zero instantly performs analytical operations that would take minutes or hours in Excel and Tableau, enabling business teams in finance, operations, sales, and marketing to work with large datasets in a spreadsheet they already know how to use” explained Fresen.
The Row Zero team plans to use the new funding to accelerate product development—namely, by expanding its connector surface to support additional business applications such as ERPs and CRMs, integrate AI into the spreadsheet, and enhance support for Python-based workflows. To accelerate growth, Row Zero is hiring for positions in its Seattle headquarters and Pittsburgh satellite office.
This Series B round led by General Catalyst, with investments from Andreessen Horowitz (a16z) and other prominent investors, will enable Sprinter Health to scale its tech stack, broaden its scope of services and engage more people in communities across the country
MENLO PARK, Calif., May 15, 2025 — Sprinter Health today announced the close of a $55 million Series B financing round led by General Catalyst, with participation from Andreessen Horowitz (a16z) Bio + Health and other existing investors including the Regents of the University of California, Google Ventures, and Accel. Sprinter Health’s mission is “healthcare untethered.” They specialize in engaging hard to reach populations, utilizing a technology-first approach paired with in-person clinical staff to increase access to care. Since its founding in 2021 by Max Cohen and Cameron Behar (both formerly of Oculus and Google), Sprinter Health has now raised over $125 million.
In a crowded market of traditional providers and digital health companies, Sprinter has distinguished itself by creating a system that pairs virtual and in-home care. Sprinter couples its in-home W-2 staff, cross-trained as medical assistants, community health workers, and phlebotomists, with a virtual team of nurse practitioners and specialists. “Meeting patients where they are” often means a virtual-only solution, which fails to actively connect with those least engaged in the healthcare system. Most significant care pathways require an in-person component. When Sprinter Health’s staff (known as Sprinters) arrive at patients’ doorsteps, the human touch makes a big difference in delivering impactful, high-quality care and ensuring patients are drivers on their health journey, not just passengers. Since Sprinters are hired from the communities they serve, healthcare is delivered by people that patients see at the grocery store or the movie theater, creating a sense of comfort and trust right from the start.
With a laser-like emphasis on routing, logistics, and engagement, Sprinter Health is making “last-mile healthcare” not just possible, but delivered efficiently. With the patient experience at its core (manifesting in a 90+ Net Promoter Score), Sprinter’s technology innovation and proprietary full-stack approach extends the normal geographic area that Sprinters can cover, helping them see more patients, cover more regions, and provide access to people whose location is often a barrier to receiving care.
“Sprinter Health’s advanced technology ensures that our Sprinters’ schedules are optimized to be with the right patient, at the right location, at the right time,” said Max Cohen, co-founder and CEO of Sprinter Health. “For example, our Sprinter Platform enables the average Sprinter to engage with and provide services for up to twelve people a day. It could be lead screening for a child in one location, an eye exam for a patient with diabetes in another, and a comprehensive assessment with care planning through a hybrid visit with a nurse practitioner for a Medicare Advantage member in the afternoon. This level of service and scale is possible only because of Sprinter Health’s technology and artificial intelligence that account for a long list of variables including traffic and weather patterns, location-based parking considerations, individualized patients’ needs and appointment times and region-specific idiosyncrasies.”
As chronic disease continues to be a burden to patients and the healthcare system alike, identifying gaps in care and taking action on them become more critical to reducing the massive increases in healthcare costs. Sprinter’s own research has shown that over 30 percent of American adults have known unattended care needs to manage their chronic health issues. Their approach doesn’t stop with closing a gap, but rather is designed around closing the loop. Sprinter reconnects these patients with their existing care team or with a team of navigators to connect them with the clinical and community resources they need. This ensures that the activation of these previously unengaged patients can result in positive longitudinal outcomes, not just a transactional encounter.
Since they first launched in California, Sprinter Health has expanded from five states in 2023 to 18 today, with plans to reach 22 by the end of summer 2025. They have completed nearly 100,000 visits to people in their homes, on behalf of national health plans. Sprinters follow a customized checklist to ensure that they administer the proper tests and provide the appropriate care that matches patients’ needs, improving quality and reducing error and wasted spend. Sprinter Health prioritizes a holistic approach to care; Sprinters are able to identify unmet social needs in patients’ homes, from fall risks to an empty fridge, and ensure that the proper referrals are made to address those issues. Sprinter Health addresses up to 20 quality measures with an 80 percent gap closure rate, and impacts 45% of the requirements to achieve a 4 Star rating or better for plans.
“We believe Sprinter Health is emerging as a category-defining company in home-based care,” said Holly Maloney, Managing Director of General Catalyst, who also led Sprinter’s seed round. “They’ve built the technological infrastructure to make care both scalable and impactful for the people who need it most. Max, Cameron, and the team have reimagined how care reaches patients — expanding access, improving outcomes, and delivering real value to health plans and providers.”
About Sprinter Health
Sprinter Health is a mobile healthcare provider that combines technology and a full-stack medical practice to reimagine care at home. We partner with healthcare organizations to drive engagement with proactive, preventive care by combining convenient in-home visits for hands-on diagnostics with support from virtual clinicians to close care gaps, develop care plans, and reconnect patients back into longitudinal care. For more information, visit www.sprinterhealth.com.
InsurTech Startup Supports Over 35 Customers and has Successfully Launched More Than 60 Innovative Products and Programs in Just Two and a Half Years
SOLEBURY, Pa., May 15, 2025 — Sproutr, a boutique insurance product design and build firm, today announced the close of its seed round led by Altai Ventures, one of the leading specialist fintech venture capital firms.
JoAnne Artesani
Founder & CEO
Built by insurance operators, Sproutr exists to bridge one of the industry’s most pressing challenges: the gap between innovation and execution. By helping MGAs/MGUs, program administrators, and carriers navigate complex regulatory processes and internal structures, Sproutr empowers them to launch new P&C products and programs faster, smarter, and more efficiently — seizing market opportunities before they’re lost.
“Within virtually every entity that sells insurance products lies a team that is often not spoken about – a department responsible for developing policy language, drafting endorsements, and by doing so, one that defines the very promises that insurers make to their policyholders and without which they would not be able to operate,” explained Oleg Ilichev, Managing Partner, Altai Ventures. “Developing effective product language comes from program management experience. Leading with outcome-based insurance insights, Sproutr has built a method that enhances these existing workflows and offerings by combining the best insurance product experts with modern technology to design insurance products and programs in a more efficient and strategic manner,” said Ilichev.
Sproutr addresses a critical industry challenge, which is the gap between insurance innovation and execution. For new and existing MGAs/MGUs and program administrators, translating early-stage ideas into viable, carrier-backed programs involves navigating complex regulatory processes, internal carrier structures, and uncertain timelines. All of these factors can hinder innovation.
On the carrier side, rigid workflows and siloed responsibilities can also slow down decision-making, leading to missed market opportunities by launching products too late or chasing ill-defined business cases.
Sproutr’s mission is to redefine the standards in insurance program and product design by simplifying the process of bringing regulated products to market. Sproutr achieves this through its tech-forward approach, proprietary frameworks & processes, and deep industry expertise, helping new and established MGAs/MGUs, program administrators, and others capitalize on market opportunities and avoid missteps.
Sproutr is comprised of experienced insurance operators who have successfully launched and scaled insurance programs across the P&C spectrum. The firm delivers end-to-end advisory, authoring, and execution support across all stages of development, including:
Market Validation
Underwriting Guidelines
Form & Rate Development
Regulatory Filings
Carrier Paper Strategy
Post Launch Audits and More
“At Accelerant, we pride ourselves on helping our Members move with agility and purpose,” said Mike McAuliffe, President at Accelerant Underwriting Managers. “Sproutr has been instrumental in delivering on this promise, sharing our Member-centric worldview and helping them build products and programs that meet real market needs,” noted McAuliffe.
Sproutr’s team of insurance professionals (CUOs, Product Managers, Compliance Experts, etc.) has over 300 years of combined experience building products and programs. Currently, the firm supports over 35 customers and has successfully launched over 60 products and programs in just 2.5 years. Some of the customers that trust Sproutr include: Accelerant, Blitz Insurance, Boost, District Cover, Everspan, MGT Insurance Company, and Sertis, among others.
“Having built, launched, and managed programs at AIG, Hippo, Hanover, and Attune, I know firsthand how hard it is to bring new insurance products to market even when you have access to the required parts (paper, capacity, & product), ” said JoAnne Artesani, CEO & Founder, Sproutr. “I founded Sproutr to direct my experience towards building a practice dedicated to propelling founders and program writers in executing their visions using smart, cost-effective, and pragmatic approaches. At Sproutr, we call this “Seeing Beyond”. Today, we operate these principles at scale with a technology-driven, customer first approach and a growing team of incredible talent, which drove my decision to bring strategic capital into Sproutr,” explained Artesani.
Sproutr, a profitable insurtech startup with over 35 customers, plans to use its funding to create more value for its growing customer base by accelerating the firm’s execution of its technology roadmap and scaling its growing team. The firm is a proud partner program member of AAIS and an approved service provider of TMPAA. For more information about Sproutr, visit: https://www.sproutr.com/
About Sproutr Sproutr is an insurance product design & build firm. Moving beyond advisory services, Sproutr exists to support start-up and legacy insurance providers in leading core insurance functions to validate, design, and author new or expanding product launch efforts. Their team has deep experience and credibility in leading underwriting, process, and product design and implementation within Fortune 500 companies and unicorn insurtechs. Choosing Sproutr means gaining the strength and credibility of a multi-disciplinary team that has navigated real industry obstacles.
About Altai Ventures Altai Ventures is a specialist venture capital firm with a focus on backing and incubating early-stage startups in financial services. Altai’s mission is to empower extraordinary founders to reinvent financial services by using its operating expertise, deep industry knowledge, and strategic LPs to drive immediate, meaningful value creation.
