Trusted by DeepL, Bolt, SumUp, TravelPerk, Axel Springer and more.

BERLIN, June 5, 2025 — Flank, a Berlin-based company building an autonomous AI legal agent for enterprise teams, today announced a $10 million funding round led by global software investor Insight Partners (backers of Clio and DarkTrace), with continued participation from Gradient Ventures, the Seed fund designed for founders in AI, as well as 10x Founders and HV Capital. The $10 million round will fund continued product development, expand the engineering and commercial teams, and deepen enterprise partnerships.

The Legal Team’s Autonomous Ally

Flank seamlessly integrates into a company’s workflows, becoming the first line of defence for legal teams. Its AI agent reviews, drafts, and red-lines key legal documents and autonomously answers company-wide legal and compliance questions in minutes, not days. Unlike chatbots or copilots, Flank’s autonomous agents resolve requests directly at the point of need — operating inside the tools already in use, like email, Slack, and Microsoft Teams. There are no new interfaces, no extra software, and no employee retraining required.

Flank’s architecture is designed to take over entire high-volume workflows (think NDAs, vendor contracts, routine compliance checks), allowing legal departments to run leaner and redirect human expertise to strategic judgment and deal-making where it matters most. The agent operates with the speed and fluency of an A-player hire — but with the ability to handle thousands of requests simultaneously.

“Legal teams are overloaded with repetitive, high-volume tasks that drain time and resources,” said Lili Breidenbach, CEO of Flank. “Flank lets them focus on high-value work while our agent handles the rest — invisibly, autonomously, and embedded within the business. We’re excited to announce our funding with Insight Partners and look forward to partnering with them as we scale and grow.”

As part of the round, Sophie Beshar, Vice President at Insight Partners, will join Flank’s board of directors. “Flank is helping define a new category of enterprise software — autonomous agents that are embedded, invisible, and capable of real work at scale. Legal teams are among the most stretched in modern organizations, and Flank’s approach unlocks speed, accuracy, and massive leverage without disrupting workflows,” said Beshar. “We’re excited to back Lili, Jake, Charlotte, and the entire Flank team as they reimagine how enterprise teams operate, starting with legal.”

Flank’s proprietary agentic framework (Flank-a0) and next-generation, vector-less retrieval engine enable breakthrough capabilities:

• Autonomous and proactive agents that interact with the business directly to solve their requests at the point of need.
• Embedded & eventually invisible intelligence that seamlessly and proactively unblocks the business. No new interfaces. No additional tools.
• Proprietary Engine that kills off vector retrieval frameworks, delivers context aware responses, and can be customised in seconds with natural language.
• Enterprise-grade Supervision engine combines proprietary AI oversight with human expert augmentation, preventing misuse and ensuring performance.

Today, Flank supports global enterprises across the US, Europe, and MENA, including DeepL, SumUp, TravelPerk, QA, PROS, Lusha, and more. Flank has already achieved triple-digit revenue growth over the past year and is hiring across product and technology to accelerate its ambitious roadmap. In addition, Flank has partnered with leading international law firm Simmons & Simmons, which has integrated Flank’s agent to deliver faster, more efficient legal services for their clients — a milestone in the adoption of autonomous legal intelligence by top-tier professional services.

“Autonomous agents aren’t the future… they’re already here, and they’re transforming how we work. Through our partnership with Flank, we’ve embedded agents that deliver legal outcomes end-to-end. We’re launching agents that handle the drafting, review, and negotiation of NDAs, DPAs, service agreements, IMAs, and more. These agents are live, in production, and already delivering real impact for our teams and our clients.” — Lucy Shurwood, Partner at Simmons & Simmons

“Flank started as a solution for legal, but it is becoming a critical part of how we operate as an organization, helping form the backbone of our internal AI strategy. We are now rolling it out across compliance, info-sec, and beyond, delivering instant, autonomous support without disrupting workflows.” — Philip Young, General Counsel at QA Group

“With Flank, legal is finally on-demand: intuitive, effortless, and built into how our team already works. We didn’t have to teach a single person how to use it. Today, it autonomously handles 5,000 requests a month for us without breaking a sweat.” — Andrew Cooke, Chief Legal Officer at TravelPerk

About Flank

Flank is a Berlin-based company building autonomous agents to transform enterprise legal operations. Designed as the legal team’s first line of defence, Flank autonomously reviews, drafts, and red-lines key documents while answering legal and compliance questions. Built on its own proprietary agentic framework and engine, Flank delivers autonomous, embedded, and invisible intelligence. Trusted by leading enterprises and backed by Insight Partners and Gradient Ventures.

About Insight Partners

Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2024, the firm has over $90B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.

Logo – https://mma.prnewswire.com/media/2703318/Flank_Logo.jpg

TORONTO, June 5, 2025 – iGan Partners is pleased to announce that it has led the first close of a Seed+ financing round for Cosm Medical, a medical device company modernizing pelvic health through personalized gynecological care. The round included new investor Spring Impact Capital and several angels, and will support Cosm’s U.S. expansion, clinical validation, and commercial growth.  

Cosm’s flagship platform, Gynethotics^TM, combines medical imaging, AI-driven design software, and 3D printing to create custom vaginal devices – starting with pessaries – tailored to each patient’s unique anatomy and needs. The solution addresses a widespread but underserved women’s health issue: pelvic floor disorders, which affect up to half of all women in their lifetime.

“Cosm is modernizing a long-overlooked space in women’s health through a personalized, data-driven platform grounded in precision care,” said Sam Ifergan, Founding Partner at iGan Partners. “We’re excited to support their mission to improve outcomes and quality of life for millions of women.”

“At Cosm, we’re not just building a product—we’re redefining an entire category of women’s health. Our Gynethotics™ platform is more than just technology; it’s a commitment to precision, personalization, and dignity in care. With the support of iGan Partners and our investors, we’re accelerating a future where women are no longer underserved – where every solution is tailored, and true innovation means changing lives. This is just the beginning.” – Derek Sham, Founder & CEO of Cosm Medical.

“We were impressed with Derek’s experience in commercializing medical devices, as well as COSM’s extraordinary team, depth of intellectual property and thoughtfulness of the go-to-market strategy, said Olivia Hornby, Managing Partner at Spring Impact Capital. “As impact investors, we were excited by COSM’s mission of building customized and data centric Gynethotics solutions – providing better care for the huge percentage of women who suffer from pelvic floor disorders.

Gynethotics^TM pessaries are approved for sale in both Canada and the U.S., and Cosm is actively expanding its presence across North America. The company is also building its clinical dataset and advancing its product pipeline to support new applications beyond pessary support, including postpartum and post-surgical recovery.

About Cosm Medical

Cosm Medical is a medical device company developing a hardware and software platform to personalize the treatment of pelvic floor disorders (PFDs), such as incontinence and pelvic organ prolapse. Its first product, Gynethotics^TM, is a made-to-measure gynecological prosthetics platform that combines imaging, AI, and 3D printing to improve pessary performance, enhance patient comfort, and reduce complications. Cosm is redefining care for a long-overlooked area of women’s health through precision medicine and digital innovation. Learn more at https://www.cosm.care/

About iGan Partners

iGan Partners is a North American venture capital firm focused on investing in emerging leaders in medical technology and digital health. We partner with founders building transformative solutions to improve patient outcomes, reduce system inefficiencies, and enable the future of data-driven care. iGan provides capital and strategic support to early commercial-stage companies across MedTech, digital health, diagnostics, and health IT. Our team brings deep sector expertise, a strong cross-border network, and a track record of scaling healthcare ventures from early growth to successful exit. Learn more at https://iganpartners.com/

SOURCE iGan Partners

DALLAS, June 5, 2025 — Skytale Group (“Skytale”), an investment banking and management consulting firm specializing in healthcare and consumer businesses, is pleased to announce it has advised MD Esthetics, a premier medical aesthetics and wellness company with 12 locations across Massachusetts, New Hampshire and Virginia, in its platform investment from private equity firm New Harbor Capital. This transaction represents New Harbor Capital’s initial investment in the medical aesthetics and wellness space and sets the foundation for building a premier national platform behind the MD Esthetics team.

Co-founders Dr. Michael Pedro and Danielle Pedro launched MD Esthetics in 2018 with a clear vision: deliver high-quality medical aesthetics and wellness services while building a strong team and a growth-minded culture. In just a few short years, they have expanded across three states, developed a provider training academy, and assembled a leadership team that knows how to scale. Their holistic, thoughtful approach to wellness has made them a standout brand in the industry and a natural choice for a platform investment.

“What the MD Esthetics team have built is incredibly impressive. It is not just a group of med spas, it is a fully integrated platform with a real vision,” said Tedd Van Gorden, Director of Investment Banking at Skytale Group. “They’ve combined clinical rigor, a unique expansion playbook, and a deep investment in people. That kind of foundation is exactly what New Harbor was looking for, and we’re thrilled to have helped bring this partnership together.”

With this investment, New Harbor Capital will partner with the MD Esthetics leadership team to accelerate the company’s growth strategy, support future acquisitions, and continue enhancing the infrastructure that has positioned MD Esthetics as a market leader.

“This partnership with New Harbor Capital marks a significant milestone for MD Esthetics. New Harbor’s deep expertise in scaling founder-led healthcare companies will be instrumental in accelerating our growth and cementing our leadership within the medical aesthetics and wellness space,” said Dr. Michael Pedro, CEO and Co-Founder of MD Esthetics. “The team at Skytale was incredible to work with. They kept us focused, guided us through every step, and made a complex process feel much more manageable. Their deep expertise in the medical spa space was invaluable — they truly understood the nuances of our business and what would resonate with the right buyers. We couldn’t have done it without them.”

“We are very excited to partner with Dr. Michael and Danielle Pedro, and the entire MD Esthetics team,” said Ed Lhee, Partner at New Harbor Capital. “We look forward to accelerating their expansion, both organically and through future acquisitions, to solidify their position as a leader in the medical aesthetics and wellness space.”

Skytale Managing Director, Ben Hernandez; Director, Tedd Van Gorden; Partner, James Turcott; Vice President, James Wimpress; Senior Associate, Wendi Sun; and Analyst, Jake Martin; represented MD Esthetics in the partnership process.

About Skytale Group:

Skytale Group is an investment banking and management consulting firm based in Dallas, TX. Skytale offers tailored and comprehensive strategic guidance to medical practices looking to thrive, grow, scale, sell, or understand the value of their businesses. Skytale’s highly experienced team relies on vast knowledge of dental, medical aesthetic, and other healthcare industries they serve to guide clients in making decisions that move their businesses forward. Obsessed with details and efficiency, Skytale analyzes financial statements, systems, and operations to help clients elevate every aspect of their businesses. Certain principals of Skytale Group are licensed Investment Banking agents registered with Burch & Company, Inc., 4151 N. Mulberry Dr, Ste 235, Kansas City, MO 64116, member FINRA/SiPC. Services involving securities shall be performed by Burch. Skytale Group and Burch are unaffiliated entities.

Learn more at skytalegroup.com.

SOURCE Skytale Group

NEW YORK, June 5, 2025 — Neuberger Berman, a private, independent, employee-owned investment manager, is pleased to announce the final close of NB Strategic Capital Fund II (the “Fund”) at just over $4.0 billion of total capital commitments, with additional capital committed by limited partners to co-invest alongside the Fund. The amount surpassed the Fund’s initial target of $2.5 billion and represents a four-fold increase from the predecessor fund, NB Strategic Capital Fund I, which held a final close in 2020 at just over $955 million.

The Fund’s diverse investor base spans North America, Europe, Asia and Latin America, featuring corporate and public pension plans, endowments, foundations, insurance companies, family offices, and high net worth individuals. 

Commenting on the closing, Tristram Perkins, Global Co-Head of Secondaries at Neuberger Berman, said, “We are grateful to both existing and new investors for the confidence they have placed in our team and the support they have shown us. We are excited by the market opportunity in GP-led secondaries, which continues to grow rapidly, and we believe will continue to be an important source of liquidity for private markets and attractive investment opportunities for our investors.”

Neuberger Berman is a highly experienced and scaled investor in GP-led secondaries, having led or co-led over 40 single and multi-asset continuation fund transactions, representing over $15 billion of cumulative transaction value. NB Strategic Capital II is now positioned as one of the largest funds dedicated to the highly attractive GP-led secondary market, which in 2024 alone expanded 44%, reaching a record $75 billion of transaction value. 

Together, the Fund and Neuberger Berman’s other pools of private equity capital enhance the deployment capabilities available to the secondaries team to lead GP-led continuation vehicle transactions. This Fund is highly complementary to Neuberger Berman’s broader GP-centric strategy, which partners with sponsors across their capital structure and throughout the private equity ecosystem. 

Ben Perl, Global Co-Head of Secondaries at Neuberger Berman, added, “Our private markets platform has been purposely built to partner with leading private equity managers. By combining our team’s fundamental approach to asset underwriting and Neuberger Berman’s broad-based industry research and differentiated resources as a global asset manager, we are well-positioned to continue serving as a preferred partner to GPs.”

In private markets, Neuberger Berman has over $135 billion of assets under management across primaries, co-investments, secondaries, direct lending, capital solutions, and other strategies. This includes over $20 billion in assets under management across its flagship private equity secondaries funds and other secondary vehicles.

About Neuberger Berman

Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $515 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman’s investment philosophy is founded on active management, fundamental research and engaged ownership. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last eleven years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of March 31, 2025.

About NB Private Markets

NB Private Markets is a division of Neuberger Berman and has been an active and successful private markets investor since 1987. NB Private Markets invests across strategies, asset classes, and geographies for a large number of sophisticated and renowned institutions globally including public and private pension funds, endowments, insurance companies, sovereign wealth funds, family offices and intermediaries. As of December 31, 2024, NB Private Markets managed over $135 billion of investor commitments across primaries, co-investments, secondaries, private credit, and specialty strategies. NB Private Markets has an experienced, diverse and stable team of over 440 professionals with a global presence in 15 offices across the United States, Europe, and Asia (as of March 31, 2025).

Media Contact: Fiona Kehily, +44 20 3214 9087, [email protected]

All Neuberger Berman information is as of March 31, 2025, unless otherwise indicated and is subject to change without notice. Firm data, including employee and assets under management figures, reflects collective data for the various affiliated investment advisers that are subsidiaries of Neuberger Berman Group LLC. Firm history/timeline includes the history of all firm subsidiaries, including predecessor entities and acquisitions.

This material is being issued on a limited basis through various global subsidiaries and affiliates of Neuberger Berman Group LLC. Please visit www.nb.com/disclosure-global-communications for the specific entities and jurisdictional limitations and restrictions. The “Neuberger Berman” name and logo are registered service marks of Neuberger Berman Group LLC. © 2025 Neuberger Berman Group LLC. All rights reserved.

SOURCE Neuberger Berman

GRAND RAPIDS, Mich., June 4, 2025 — WedgeHR, the video interviewing platform revolutionizing how businesses hire, today announced the successful close of its latest funding round. This investment brings together an elite group of HR tech operators, franchising leaders, and growth-focused investors, accelerating WedgeHR’s mission to simplify and humanize hiring at scale.

Participants in the round include former Terryberry executives Scott VanderLeek, Mike Byam, and David Beemer, renowned for scaling performance-based HR solutions; franchising expert and serial entrepreneur Kristi Mailloux; and operational scale strategist Todd Recknagel. Mailloux, Recknagel, Byam, and Beemer now join the WedgeHR Board of Directors, alongside newly appointed board member Chris Tarrant, a seasoned operator and executive advisor. Investor Sam Shooster also joins the round, bringing deep experience in venture capital and growth-stage strategy.

WedgeHR also welcomes BDev Ventures as an institutional investor, marking a new phase of systematized growth, technical scale, and strategic backing.

As part of this growth phase, WedgeHR has strengthened its executive team with two key leadership additions:

• Aaron Schaap joins as Chief Operating Officer (COO), bringing extensive experience in operational leadership, team development, and startup scale.
• Scott VanderLeek steps in as Chief Sales Officer (CSO), adding decades of high-performance sales expertise and a proven track record in enterprise growth.

“This round isn’t just about capital — it’s about surrounding WedgeHR with leaders who’ve built and scaled iconic companies,” said Matt Baxter, CEO and Founder of WedgeHR. “With Aaron and Scott joining the executive team and the backing of these world-class investors, we’re positioned to help thousands more businesses hire faster, smarter, and with greater human connection.”

The new capital will fuel product-led growth initiatives, deepen integrations with top ATS and HR platforms, and accelerate revenue through franchisor, QSR, and enterprise channel partnerships.

WedgeHR has seen rapid growth over the past year by helping companies reduce time-to-hire, eliminate early-stage ghosting, and screen talent in a more authentic, human way — all with just 15 minutes of setup time.

For more information or to schedule a demo, visit www.wedgehr.com

About WedgeHR
WedgeHR helps businesses hire faster by replacing early-stage interviews with recorded video responses — giving employers a clearer, more efficient way to screen candidates while saving recruiters hours in the process. With a mission to remove friction from hiring and connect people to better opportunities, WedgeHR powers hiring for franchise groups, high-volume employers, and growing businesses across North America.

Media Contact:
[email protected] 

SOURCE WedgeHR

Seed-Stage Cybersecurity Fund Fast-Tracks Market Access for Disruptive Tech Startups

TYSONS CORNER, Va. and TEL AVIV, Israel, June 4, 2025 — Merlin Ventures today announced the close of its oversubscribed inaugural fund, exceeding its $75 million target. With a strong emphasis on the growing Israeli tech ecosystem, this landmark fund accelerates market opportunities for high-growth startups with next-generation cybersecurity technologies and disruptive cyber solutions.

Raised amid challenging market conditions, this fund underscores the confidence in Merlin Ventures’ unique model, and proven ability to identify and nurture high-potential, seed-stage cybersecurity startups.  Merlin Ventures Managing Partners Seth Spergel and Shay Michel, along with Merlin Group CEO David Phelps, will manage the fund. Merlin Ventures is also announcing the promotion of two longtime team members that have been key to the fund’s success, Almog Golod to Partner and Tav Spector to Operating Partner. World-class business leaders invested in and support the fund, including Ofer Smadari, founder of Torq; Ofer Ben-Noon, founder of Talon Security (acquired by Palo Alto Networks); Dan Benjamin, founder of Dig Security (acquired by Palo Alto Networks) and Lior Suchard, world-famous mentalist.

“Raising our first dedicated fund, especially in today’s economic climate, is a testament to the incredible work our team has done over the last four years and the unique value proposition we offer to both founders and investors,” said Seth Spergel, Managing Partner, Merlin Ventures. “This new fund allows us to double down on our commitment to seed-stage companies and positions us as the go-to partner for the Israeli cybersecurity ecosystem and for U.S. investors eager to invest in the Israeli market.”

Since building out its team in Israel in January 2021, Merlin Ventures has successfully exited six investments made from previous vehicles, including Talon and Dig Security, both acquired by Palo Alto Networks, and more recently, InfoSec Global, acquired by Keyfactor, and Veriti, acquired by Check Point Software. The new fund has already made its first two investments, alongside leading U.S. investors Lightspeed Venture Partners and Norwest Venture Partners.

“The cyber startup ecosystem is incredibly strong right now, driven by demand around new threats and opportunities tied to Artificial Intelligence. We are witnessing a new generation of startups leveraging generative AI to build platforms at scale that were previously unimaginable, and capitalizing on this growth is the foundation of our fund,” said Shay Michel, Managing Partner, Merlin Ventures. “Our investment track record is a testament to our unique market access and deal flow inside the Israeli market, which positions the firm to identify and support the most promising founders. We are laser-focused on making this new fund the most successful seed-stage cyber fund in the Israeli market.”

The firm’s fundraising success and market differentiation are driven by three core pillars:

• Robust Network: A community of hundreds of top Chief Information Security Officers (CISOs) and security executives across the U.S. who provide invaluable market insights, assist in due diligence, and accelerate the growth of portfolio companies.
• Strategic Co-Investment Partnerships: A unique model of co-investing with prominent U.S. funds, positioning Merlin Ventures as a go-to partner for accessing premier seed-stage Israeli cybersecurity talent. This enables the firm to invest ahead of the curve while giving startups the support of two top funds—a huge competitive advantage.
• U.S. Government Market Access: A strategic relationship with Merlin Group, a leading player in the U.S. federal market, provides portfolio companies with an accelerated pathway into the lucrative U.S. government market.

Merlin Ventures has built a top-tier infrastructure for market readiness, cybersecurity engineering expertise, and go-to-market strength, that is designed to withstand volatile and unpredictable market conditions. This enables startups to confidently penetrate and pursue the largest markets in the world.

“Merlin provides portfolio companies with a powerful network of cybersecurity investment, innovation, technical expertise, and go-to-market acceleration that leverages world-class security technologies and trusted relationships to facilitate and deliver trailblazing security solutions,” said David Phelps, Founder and CEO of Merlin Group. “Over the past four years, Merlin Ventures has proven itself as a VC with key differentiators that enable us to succeed where others have failed. Our unique model of co-investment allows us to build strong partnerships with some of the most recognized funds in the world. This new fund will amplify our ability to connect visionary entrepreneurs with the resources, network, and expertise they need to scale globally.”

The cybersecurity landscape is evolving at an extraordinary pace, largely driven by rapid advancements in AI. In an age where AI accelerates product development, building the right product, and getting it to market efficiently, is critical. In support of this, Merlin Ventures is launching its Genesis program, a structured initiative designed to fast-track the go-to-market growth of its portfolio companies. The Genesis program formalizes Merlin Ventures’ commitment to providing hands-on support by connecting startups with its extensive CISO network and a curated group of partners specializing in sales, go-to-market operations, and human resources. Participation allows portfolio companies to easily build products, providing the early guidance and resources founders need to quickly go from a PowerPoint concept to the first dollar of revenue.

Learn more about Merlin Ventures, their portfolio companies, and community which opens up access to the cybersecurity market, connecting CISOs and innovative startups together. 

About Merlin Ventures

Merlin Ventures is the venture capital affiliate of Merlin Group, a network of companies with nearly 30 years of success bringing technologies to the U.S. government market. Merlin Ventures rapidly scales visionary companies and introduces disruptive solutions designed to help enterprises address today’s most critical cybersecurity challenges. Its unique business model combines robust infrastructure and capital, technical advisory and engineering advisory, market readiness acceleration, and deep-rooted government and industry relationships that enable its portfolio to rapidly grow and scale. Learn more at merlin.vc.

Media Contact

Katherine Benfield
ICR for Merlin Ventures
[email protected] 

SOURCE Merlin Ventures

Flourish Ventures leads round with participation from BCV, Altai Ventures, and Accenture Ventures

NEW YORK, June 4, 2025 — Reserv, Inc., a tech-enabled third-party administrator (TPA) experiencing hypergrowth, today announced the completion of its $25 million Series B funding round. The oversubscribed round, led by Flourish Ventures with full pro-rata participation, also included Accenture Ventures, bringing Reserv’s total funding to $55 million.

Reserv combines the best of a traditional TPA – experienced adjusters, managers, and scale – with flexible, modern technology that enables better performance and better reporting. The company has achieved triple-digit year-over-year revenue growth for two consecutive years.

Since its founding in 2022, Reserv has quickly emerged as the leader of the next-generation tech-enabled TPAs, having grown to more than 350 employees in the United States and United Kingdom. Reserv supports more than 80 MGA clients and 20 carriers across nearly all property and casualty lines of business, including commercial auto, business owners’ policy, general liability, professional lines, medical malpractice, and more.

Customers choose Reserv because it is reliable, efficient, and offers a best-in-class experience for claimants and adjusters. In addition to the latest innovative technology like agentic AI, automated communications, and a tight feedback loop, Reserv has built transformative capabilities unmatched by others.

One example is Reserv’s automated rollover technology ingests data from legacy TPAs and incumbent systems and maps it to the Reserv platform automatically, reducing the typical data migration timeline from over 9 months to under two weeks. In so doing, Reserv structures unstructured data such as emails and file notes and reconciles financials to the penny, enabling unprecedented visibility — with minimal cost.

Gallagher Re’s Q1 2025 Global InsurTech Report highlighted how Reserv’s AI-driven tools, such as the claim severity model and claim summarization tool, drive massive efficiency in claims processing.

“Executives hear a lot of noise around AI. ‘The platform should be AI native’ or ‘an AI sidekick is more optimal’, ‘focus on communications’, ‘focus on compliance’,” said CJ Przybyl, CEO and co-founder of Reserv, “You won’t often hear us speaking so absolutely. We scale quickly, assess our weaknesses, and build solutions to solve our problems in a direct partnership with our customers. A great example of this is our rollover technology. No startup would pitch this idea to a VC as a scalable stand-alone business, but it has been an enabler of our scale—and building it strengthened our LLMs and data science while forging strong feedback loops between platform engineers and adjusters.”

“Reserv has demonstrated exceptional progress in a remarkably short period,” said Emmalyn Shaw, Co-founder and Managing Partner at Flourish Ventures, a leading global fintech VC firm. “They’ve successfully built modern infrastructure for an industry traditionally reliant on legacy systems, and their data-driven approach is delivering real value to carriers, MGAs, and ultimately, the policyholders they serve.”

With the investment from Accenture Ventures, Reserv joins their Project Spotlight Investments, which connects enterprise clients and emerging technology poised to solve industry-defining challenges.

“Insurance claims processing remains at the core of the customer promise and ripe for end-to-end reinvention and disruption,” Kenneth Saldanha, senior managing director and Accenture’s North America Insurance lead. “Reserv’s platform empowers insurers to act on more granular claims data for greater efficiency and accuracy, enabling faster claim processing and better customer experience. The feedback loop to risk selection and more competitive pricing drives greater resilience in the market.”

Reserv applies the same modern, tech-native philosophy to everything in the company, including its own infrastructure – from HR to compliance, to ensure accuracy and efficiency while scaling a licensed and substantiable TPA. Reserv’s flexible technology stack partners seamlessly with multiple vendors, including multiple LLM vendors, to provide accurate, efficient and unique solutions tailored to carriers’ needs. 

The Series B funding will primarily be used to build enhanced claims automation models, accelerated integrations, and develop net-new non-claim modules that leverage the vast dataset of Reserv’s TPA arm. These evolutions will bring demonstrable enhancements to customers and claimants’ experience, as well as to Reserv’s best-in-class adjuster tools. To find out more please email [email protected].

About Reserv
Reserv is a tech-enabled and data-driven solution closing massive gaps in the insurance claims process, removing burdens for users for any property and casualty claim. Founded by industry veterans Martha Dreiling and CJ Przybyl in 2022, the company is backed by Altai Ventures, Bain Capital Ventures, Flourish Ventures, and others. Reserv has raised $55M to date and has 320 employees in the US and the UK. Reserv has been appointed a Delegated Claims Administrator (DCA) by Lloyd’s of London, named one of CB Insights’ Top 50 Most Promising Insurtechs of 2024, and awarded “Best Newcomer” by the British Insurance Awards. For more information about Reserv, visit https://www.reserv.com.

About Flourish
Flourish Ventures is an $850M global early-stage venture firm investing in entrepreneurs reshaping financial systems for the better. Our global portfolio spans 100+ companies across the U.S. and emerging markets, including pioneering fintechs such as Alloy, Brico, Chime, Clerkie, Flutterwave, Kin, Mantl, M2P, Neon, ShopUp, Skipify, Spade, and Unit. We also champion entrepreneurs shaping policy, media, and research to accelerate lasting change in financial services.

SOURCE Reserv

TEL AVIV, Israel, June 4, 2025 — Adversa AI, the leading platform for continuous Red Teaming of Agentic AI Systems, GenAI Applications, and AI Models, proudly announces that it has been named a winner in the 2025 Fortress Cybersecurity Awards, presented by the Business Intelligence Group. The company was recognized as a leading Cybersecurity solution in the AI category.

The Fortress Cybersecurity Awards program honors the industry’s leading companies and professionals who are going beyond compliance to build and maintain secure systems and processes.

“The volume and complexity of threats facing organizations today is growing by the minute,” said Russ Fordyce, CEO of the Business Intelligence Group. “The winners of this year’s Fortress Cybersecurity Awards are not only keeping up—they’re setting the pace.”

This recognition underscores Adversa AI’s continuous innovation in AI Security and Red Teaming with unique focus on Agentic AI Security—including tool-using autonomous agents and MCP Security Issues —by simulating adversarial behavior in real time to discover exploitable risks before they become breaches.

This announcement comes at a crucial time as the industry intensifies efforts around Agentic AI Security.

Adversa AI actively contributed to and reviewed the latest Cloud Security Alliance (CSA) report on Red Teaming Agentic AI, shaping emerging best practices for securing the future of AI autonomy.

In addition, CEO Alex Polyakov was recently appointed to co-lead the Agentic AI Security initiative at COSAI (Coalition for Secure AI), where helps to drive collaborative efforts to address the increasing need for systemic, standardized Red Teaming and Threat Modelling practices across agent-based systems and their protocols.

“We’re honored to be recognized for our work in Agentic AI Security. As the industry moves beyond models to autonomous agents, security challenges evolve rapidly,” said Alex Polyakov, Co-Founder of Adversa AI. “Our platform is purpose-built for this new paradigm—continuously uncovering vulnerabilities in AI reasoning, coordination, and autonomy, including zero-day weaknesses in agent interactions.”

Adversa AI’s Red Teaming engine recently uncovered unknown critical vulnerabilities in Reasoning AI systems like ChatGPT, Grok, and others—within hours of their release. The platform supports continuous attack surface monitoring for all AI assets, seamlessly integrating into enterprise workflows across security, risk, compliance, and AI development.

Adversa AI is already working with Fortune 500 companies and top solution providers across the US, EU, and Asia, helping them proactively test and secure critical AI-powered systems through automated, continuous adversarial testing.

Resources:
Learn more about Adversa AI Red Teaming Platform
Follow us on LinkedIn, X (formerly Twitter)
Full list of winners: https://www.bintelligence.com/posts/securing-the-future-these-companies-are-redefining-what-cyber-defense-looks-like 

About Adversa AI
Adversa AI is a leading company in continuous AI Red Teaming and proactive security testing for Generative AI and Agentic AI systems. Its platform automates GenAI security validation, helping enterprises uncover vulnerabilities, prioritize risks, and defend AI innovations before attacks occur. Trusted by Fortune 500 companies and global technology leaders, Adversa AI bridges cybersecurity and AI development, building resilience by design.

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EASTHAMPTON, Mass., June 4, 2025 — The Treehouse Foundation, a nonprofit focused on intergenerational community living to improve foster care and create permanency for children, has announced plans to launch a three-year community research initiative this spring. Funded by a $495,000 grant from the Next50 Foundation, the initiative will assess the impact of Treehouse’s existing Easthampton intergenerational neighborhood and inform their planned expansion to the Boston and Worcester communities. The research will focus on how their affordable intergenerational communities address the social, emotional, and economic needs of youth with care experience, their limited-income caregivers, and limited-income older adults. Treehouse’s Easthampton community offers 60 affordable rental homes for families and adults age 55 and older who foster or adopt.

“This grant will lead the way for intergenerational living models across our sites, resulting in a better understanding of how we can support and promote vital aging,” said Ann Augustine, Chief Program Officer, Treehouse Foundation. “I am excited to see where the research will take us and future generations.”

The Next50 Foundation grant will provide $165,000 each year for three years. This funding will support research with academic partners and an internal Community Feedback and Research Advisory Group. The research aims to gather insights and build a rich data repository that will allow for ongoing program improvements as well as informing Treehouse’s planning for future communities.

This investment from Next50 Foundation follows an investment of $100,000 from the Lennox Foundation to support a documentary-style video library focusing on Treehouse community members and revisions to the organization’s “Theory of Change” framework.

Over the next three years, Treehouse will develop a feedback system to assess the impact, challenges, needs, and community vision of its model. This initiative involves partnerships with Dr. Cal Halverson (Washington University, Harvard University TH Chan School of Public Health, CoGenerate) and the Public Health Initiative of Western Mass.

The historic grant comes on the heels of installing a new chief executive in January to lead the organization into its third decade. Erika Kuester, the second-ever CEO in the organization’s 23-year history, stepped into the role as interim CEO last summer following the departure of Treehouse’s founder/CEO, Judy Cockerton. As a foster parent, Cockerton founded the Treehouse Foundation to address the national “aging out” crisis in foster care. Her vision led to the ReEnvisioning Foster Care movement in Easthampton, sparking national conversations about foster care and child welfare resource gaps.

“The unwavering support and shared purpose among our board, staff, and partner organizations is deeply encouraging and a testament to what we can achieve together,” said Erika Kuester. “At Treehouse, we are committed to advancing lasting, positive change—by the community, for the community.”

As CEO, Kuester brings a strong commitment to social justice and community organizing. At Leadership for Educational Equity (LEE), she built infrastructure to support 40,000 national members over six years. Previously, at the National Community Reinvestment Coalition (NCRC), she managed organizers for nationwide bank accountability campaigns. As lead organizer for a DART Center affiliate in Sarasota, Florida, Kuester organized campaigns addressing recidivism, homelessness, and educational disparities. She also has experience leading and participating in diversity, equity, and inclusion initiatives.

About The Treehouse Foundation
Founded in 2002, the Treehouse Foundation is a nonprofit organization that seeks to improve the lives of those in foster care. The organization creates intergenerational communities as a model for ways to support families in raising children who have been in foster care and serves as an environment for older adults. Treehouse Foundation created the ReEnvisioning Foster Care Movement led by those with lived experience to educate, inspire and promote collaboration.

Media Contact (The Treehouse Foundation)
Kerri Tallman, Half Street Group
401-658-6604 | [email protected]

SOURCE Treehouse Foundation