• Oversubscribed round was led by Future Ventures, and included NFX, BOLD Capital Partners, Kendall Capital Partners, Amplify Bio, Base4 Capital and others
• Dr. Emilio Emini, former SVP of Vaccine Research and Development at Pfizer, SVP of Research at Merck, and CEO of the Bill & Melinda Gates Medical Research Institute, joins the Board of Directors

SOUTH SAN FRANCISCO, Calif., July 8, 2025 — Centivax, Inc., a biotechnology company engineering vaccines and therapies for durable, universal protection against highly diverse targets, today announced the close of an oversubscribed $45 million Series A financing. The round was led by Steve Jurvetson of Future Ventures, an early backer of Tesla, SpaceX, Prellis Biologics, Cambrian Bio, and others which in aggregate represent $1.4 trillion of value creation. The round includes participation from NFX, BOLD Capital Partners, Base4 Capital, Kendall Capital Partners, Amplify Bio, and other investors. Existing insiders increased their ownership in the round.

“Future Ventures is proud to lead Centivax’s Series A with a great syndicate of co-investors,” said lead investor Steve Jurvetson. “I have been on a quest to find a credible antiviral breakthrough for over 20 years. I first became enamored with the prospect of a universal vaccine via our philanthropy. Centivax has developed a universal shot for all forms of flu, and they have already demonstrated their universal immunity platforms in other areas, including universal antivenom. Their unique approach will hopefully lead to a historic transition to a post-pandemic era for humanity.”

The Series A will fund Centivax’s first clinical candidate, a universal flu vaccine currently in CMC development, through a Phase I clinical trial slated to begin within eight months. In addition to safety, the study will measure correlate-of-protection efficacy using the gold-standard hemagglutination inhibition (HAI) assay against a panel of more than twenty flu strains—including current 2024-2025 circulating strains, historical mismatch strains, and pandemic strains—in a direct head-to-head comparison with existing standard-of-care flu vaccines. Because the HAI assay is the same correlate-of-protection used to license seasonal flu vaccines, positive data will provide a clear benchmark demonstrating the candidate’s ability to deliver broad protection with a single vaccine. “The Phase I trial gives us the opportunity to prove the Centivax platform technology works,” said Dr. Jerald Sadoff, MD, Chief Medical Officer of Centivax. “We can demonstrate that the Centivax technology directs the immune system to focus on regions of pathogens that do not change across strains. This is valuable not just in flu, but for all rapidly mutating pathogens and other difficult targets in our portfolio.” In preclinical studies in ferrets, pigs, cows, mice, rats, and human immune organoids, the Centivax technology consistently induced universal immunity to all tested influenza viruses, including the 2024-2025 H5N1 “bird flu.”

Beyond its flagship universal-flu program, Centivax’s epitope-focusing platform enables a growing pipeline for RSV/hMPV, herpesviruses, HIV, malaria, oncology, and a universal antivenom that was recently published in Cell and spotlighted by the Wall Street Journal, New York Times, Nature, and other outlets. This growing portfolio underscores the technology’s broad potential not only to protect against a wide array of infectious diseases–including viral, bacterial, protozoan, fungal, parasitic and man-made bioterror threats–but also to improve healthspan by reducing the long-term complications these pathogens can trigger, such as cancer, autoimmune conditions, cardiovascular and neurodegenerative disease. “Vaccines are already doing this. The Gardasil® vaccine, which our CMO played a key role in developing, reduced the national incidence of multiple cancer types, and was, in effect, an anti-cancer vaccine,” said Dr. Jacob Glanville, PhD, co-founder and CEO of Centivax, “The Zostavax™ vaccine, which our CMO also spearheaded, has been recently demonstrated to reduce Alzheimer’s and heart disease. We believe that universal vaccines can take us further.”

Centivax is led by CEO and founder Dr. Jacob Glanville, former founder and CEO of Distributed Bio, whose clients included Pfizer, Boehringer, Gilead, Teva, and 60 other biotechs and pharmaceutical companies and was acquired by Charles River Laboratories in 2020; Chief Medical Officer Dr. Jerald Sadoff, who previously led vaccine development at Johnson & Johnson, Merck, WRAIR, and AERAS, resulting in 14 vaccines receiving regulatory approval, including Gardasil®, Zostavax™, ProQuad®, Rotateq®, and the Janssen Jcovden COVID-19 vaccine; Chief Scientific Officer and co-founder Dr. Sawsan Youssef, who successfully exited Distributed Bio with Glanville in 2020, and whose work at Pfizer led to the clinical-stage drug sasanlimab; and co-founder and Chief Business Officer Stephanie Wisner, MBA, formerly of ARCH Venture Partners and author of Building Backwards to Biotech. The leadership team also includes Chief Innovation Officer Dr. Gusti Zeiner, Chief Operations Officer and co-founder David Tsao, and Chief Technology Officer and co-founder Dr. Nicholas Bayless.

“Universal vaccines won’t just be safer, more reliable, and more convenient medicine—their commercialization will end the pandemic era,” said Glanville. “I am particularly excited to partner with Steve Jurvetson at Future Ventures due to his track record of new industry formation based on disruptive technology. This financing positions us to deliver on the U.S. government’s stated goal of a universal influenza vaccine within five years and to extend our platform to other high-impact diseases that needlessly weigh on our medical systems and our lives.”

As part of the financing, Emilio Emini, PhD—former CEO of the Gates Medical Research Institute, Director of the Gates Foundation HIV and tuberculosis programs, and former SVP of Vaccine R&D at Pfizer and Merck—joins Centivax’s Board of Directors. Dr. Emini has been a major contributor to the development of multiple vaccines, including Prevnar, where he was responsible for its development for both pediatric and adult prevention of pneumococcal disease.

“I very much look forward to working with the Centivax team as a member of the company’s Board,” said Dr. Emini, PhD. “Centivax’s approach to the design and development of a truly universal influenza vaccine is unique and creative. As such, the approach has considerable potential for successfully achieving a goal that has proven elusive to date.”

In addition to venture backing, Centivax has secured $24 million to date in competitive, non-dilutive awards—beginning with a $2 million “Grand Challenge: End the Pandemic Threat” grant from the Bill & Melinda Gates Foundation and followed by awards from CEPI, the National Institutes of Health, the Military Infectious Diseases Research Program, the U.S. Naval Medical Research Command, and others.

“In today’s financing climate, we are proud to have assembled an exceptional syndicate of investors and an exceptional team, both of which have an impressive track record of bringing breakthrough technologies to market,” said co-founder and Chief Business Officer Stephanie Wisner. “This funding carries us through first-in-human studies—a value-inflection point that will catalyze the next phase of growth for Centivax and move the first universal flu vaccine one step closer to market.”

About Centivax
Centivax is a universal immunity company, deploying a proprietary computational immune-engineering platform to create vaccines and therapies that deliver universal protection against entire classes of diverse targets. The lead clinical candidate for influenza—featured in The New Yorker, the Netflix docuseries Pandemic: How to Prevent an Outbreak, and other outlets—addresses a greater than $7 billion global flu market, with follow-on programs spanning a growing pipeline for RSV/hMPV, herpesviruses, HIV, malaria, oncology, and a universal antivenom. This growing portfolio underscores the technology’s broad potential not only to protect against a wide array of infectious diseases–including viral, bacterial, protozoan, fungal, parasitic and man-made bioterror threats–but also to improve healthspan by reducing the long-term complications these pathogens can trigger, such as cancer, autoimmune conditions, cardiovascular and neurodegenerative disease. Centivax is headquartered in South San Francisco, California. Visit www.centivax.com and follow @Centivax on X.

Media Contact
Stephanie Wisner, MBA
Chief Business Officer
[email protected] | +1 415-712-0001

SOURCE Centivax

Talent-led investment firm focuses on building executive teams and investing in growth-stage companies across aerospace, defense, alternative energy, robotics & automation, and advanced manufacturing.

LOS ANGELES, July 8, 2025 — Today marks the official launch of Unmatched Ventures, a talent-led venture firm purpose-built to invest in and scale the next generation of frontier technology and industrial innovation. Founded by Todd Gitlin, Simon Casuto, Aaron Zeeb, and Holly Rockwell, Unmatched Ventures brings a combined track record of scaling breakout companies across frontier technology, venture capital, executive search, and advisory.

Unmatched Ventures is focused on the reindustrialization of the U.S. economy and the revitalization of sectors critical to national competitiveness. The firm invests in Series A – C growth-stage companies leading advancements in:

• Aerospace and Defense
• Alternative Energy
• Robotics and Automation
• Advanced Manufacturing, including 3D printing and industrial AI

These sectors are not just ripe for innovation, they represent rapidly expanding markets:

• The global space economy is projected to grow from $418B today to $1.8T by 2035
• The defense market is expected to increase by 31%, reaching $3.9T by 2033
• Robotics and advanced manufacturing are each forecasted to more than double in size over the next five years
• The global energy transition market is set to triple, from $2.07T to $6.47T by 2032

What sets Unmatched apart is its talent-led model, pairing capital with executive search, advisory, and proprietary data on real-time company and talent movement to help founders build high-density leadership teams fast.

“Reindustrialization isn’t just an economic opportunity, it’s a national imperative,” said Holly Rockwell, Founding Partner. “We believe the future will be built by the companies reshaping how things are made, powered, and protected. At Unmatched, we’re here to back these companies with capital, with people, and with execution firepower.”

To learn more about Unmatched Ventures, visit www.unmatched.ventures or reach out to [email protected].

Media Contact:
 Holly Rockwell
 Founding Partner
 [email protected]
 www.unmatched.ventures

SOURCE Unmatched Ventures, LLC

With the support of GTCR, Clear Capital will continue to deliver innovative technology, analytics and data solutions to the mortgage and real estate industries

CHICAGO, July 8, 2025 — GTCR, a leading private equity firm, announced today that it has made a significant investment in Clear Capital (the “Company”), a leading national real estate analytics, data solutions, and valuation technology company. GTCR is partnering in the investment with Clear Capital’s co-founder and CEO Duane Andrews and its strong existing management team to further invest in the Company’s growth and strengthen its market leadership. The transaction represents Clear Capital’s first outside investment, with GTCR becoming the Company’s majority shareholder and Mr. Andrews retaining substantial equity ownership.

Headquartered in Reno, Nevada, Clear Capital is a leading provider of valuation technology, analytics and data solutions for the mortgage and real estate industries. Since its founding in 2001, Clear Capital has consistently led the industry in developing innovative technology-driven solutions for customers across the mortgage and real estate value chains. Today, Clear Capital is the industry’s leading provider of alternative valuations and technology-powered appraisals, leveraging its advanced technology platform, innovative products and deep customer relationships to differentiate itself in the marketplace. Clear Capital’s product suite supports over five million real estate and housing finance transactions annually, and its digital floor plan offering, CubiCasa, is used in approximately 30% of all new real estate listings nationwide.

GTCR will work closely with Mr. Andrews and Clear Capital’s management team to enhance and expand the Company’s leading valuation and data offerings, further invest in its technology platform and infrastructure, and accelerate M&A activity. The investment will also support the continued growth and integration of CubiCasa, which has quickly established itself as the market’s leading digital floor plan solution. GTCR’s investment builds on the firm’s deep domain expertise across the real estate and mortgage technology ecosystem, including its prior investment in Optimal Blue, a leading digital mortgage marketplace and provider of mortgage data analytics and capital markets technology.

In addition, experienced technology executive Scott Happ has joined Clear Capital’s Board of Directors and will serve as an active Director and advisor to the Company. Mr. Happ brings over 40 years of experience in the mortgage and mortgage technology industry. He previously partnered with GTCR during its investment in Optimal Blue, where he served as CEO from 2016 to 2022. Prior to Optimal Blue, Mr. Happ was the founder and CEO of Mortgagebot, a pioneer in digital mortgage point-of-sale technology.

“Clear Capital’s innovative technology platform, combined with its deep expertise delivering data-driven solutions, positions it as a leader in this rapidly evolving market,” said Michael Hollander, Managing Director at GTCR. “This investment underscores GTCR’s commitment to backing exceptional management teams and leveraging our expertise in technology and financial services to drive transformational growth.”

“Partnering with GTCR represents an exciting new chapter for Clear Capital, enabling us to scale our platform, expand product offerings and continue to provide innovative solutions for the real estate and mortgage industries,” said Mr. Andrews. “Our mission remains the same: to build confidence in real estate decisions to strengthen communities and improve lives. Through this strategic investment, we can build upon this mission even further.” 

“As the real estate landscape continues to undergo rapid change, Clear Capital stands out for its unique technology-driven platform and proven ability to profitably expand and innovate,” said David Lalo, Director at GTCR. “We look forward to partnering with Duane and the entire Clear Capital team to accelerate the Company’s growth trajectory and continue to deliver exceptional value to its customers. We also plan to pursue strategic acquisitions to further expand Clear Capital’s product set.”

Wells Fargo and Houlihan Lokey served as financial advisors to GTCR on the transaction and Simpson Thacher & Bartlett LLP served as GTCR’s legal counsel. American Discovery Capital served as financial advisor to Clear Capital and O’Melveny & Myers LLP served as Clear Capital’s legal counsel.

About GTCR

Founded in 1980, GTCR is a leading private equity firm that pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through organic growth and strategic acquisitions. GTCR is focused on investing in transformative growth in companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications sectors. Since its inception, GTCR has invested more than $30 billion in over 290 companies, and the firm currently manages approximately $50 billion in equity capital. GTCR is based in Chicago with offices in New York and West Palm Beach. For more information, please visit www.gtcr.com. Follow us on LinkedIn.

About Clear Capital

Clear Capital is a national real estate analytics, data solutions and valuation technology company with a simple purpose: to build confidence in real estate decisions to strengthen communities and improve lives. Our goal is to provide customers with a complete understanding of nearly every U.S. property through our AI-driven analytics, data solutions, valuation services and automated appraisal review platforms. Our commitment to excellence – wherever it leads, whatever it takes® – is embodied by our team members across our brands and has remained steadfast in this pursuit since our first order in 2001.

GTCR Media Contact:
Josh Clarkson / Ryan Smith
[email protected]

Clear Capital Media Contact:
Ross Stevens
Caliber Corporate Advisers for Clear Capital [email protected]

SOURCE GTCR

• Balderton Capital and Peak XV double down on their previous investments in Huspy in its latest funding round
• With six new cities in Spain and a Saudi launch planned, Huspy expects to operate in over 10 cities by end of 2025
• Huspy facilitates over $7 billion in real estate transactions annually in Europe and the Middle East

DUBAI, UAE and MADRID, July 8, 2025 — Huspy (www.huspy.com), the proptech company reshaping home buying experiences from the Middle East to Europe, today announced the close of a $59 million Series B funding round, led by returning investor, Balderton Capital, one of Europe’s leading venture firms. The round also saw participation for a third time from Peak XV (formerly Sequoia Capital India and Southeast Asia), as well as ExBorder Partners, Turmeric Capital, BY Ventures, Dara Management, COTU Ventures and KE Partners. 

With operations in the UAE and Spain, Huspy empowers thousands of real estate agents and mortgage brokers with a market-leading value proposition: high commissions, best-in-class technology and robust infrastructure to serve home buyers and sellers more efficiently.

Huspy facilitates over $7 billion in real estate transactions annually in Europe and the Middle East. The funding will support Huspy’s European expansion, investment in technology and strategic hiring. In Spain, Huspy is operational in Madrid, Valencia, Alicante and Malaga, and will be launching in six additional cities by the end of 2025. In 2024, the company’s Spanish real estate business achieved more than 20x year-on-year growth. This year, Huspy will also expand its Middle East presence by entering the region’s largest economy, the Kingdom of Saudi Arabia, bringing its total footprint to ten cities globally. Over the next four years, the company intends to launch operations across most major cities in Europe and the Middle East.

“We are building a global business with the goal of being present in the majority of European and Middle Eastern cities. We aim to provide the best infrastructure for real estate agents and mortgage brokers, enabling them to grow their businesses and serve home buyers and sellers in the best way possible. After 4 years of investing in our systems, we are now able to operate with a lot of agility allowing us to expand the business at a high growth rate for years to come” said Jad Antoun, Co-Founder and CEO of Huspy.

Huspy is recognised as one of the fastest growing proptechs in the UAE, with thriving operations in Dubai and Abu Dhabi. The company’s mortgage unit is the largest in the UAE, processing over 25% of all residential home financing in Dubai, one of the world’s most active real estate markets.

“We are pleased to renew our partnership with Huspy by leading this round. The team is building technology that modernizes real estate and mortgage businesses, allowing brokers to reap substantial efficiency gains that translate into serving more clients, better,” said Rana Yared, General Partner at Balderton Capital.

To support its expansion, Huspy is hiring across expansion and technology-specific roles. The company has attracted global talent from leading companies in technology and real estate, and has established tech hubs in the UAE and Spain.

About Huspy
Huspy is building the largest home-buying platform in Europe and the Middle East. Huspy empowers real estate agents and mortgage brokers with world-class technology, commissions and infrastructure, and provides homebuyers with seamless access to mortgages, properties and related services through technology and innovation.

www.huspy.com

Photo – https://mma.prnewswire.com/media/2726788/Huspy.jpg

SOURCE Huspy

Venture capital invested in fledging companies in Europe’s largest economy has dramatically increased, and the number of firms being founded is on the rise as well.

BERLIN, July 8, 2025 — The first six months of 2025 saw 1500 new startups established – a rise of nine percent compared with the previous six months. That’s according to the report “Next Generation – Startup Foundings in Germany,” jointly published by the German Startup Association and the platform startupdetector.

Berlin and Munich continue to be attractive locations, but the eastern German regional state of Saxony also booked a 71 percent increase in the number of startups founded.

“Hotspots like Berlin and Munich remain central for a lively startup ecosystem, said startupdetector co-founder Felix Engelmann in a statement. “But we’re also seeing a positive dynamic beyond those centers. Our base is now broader, and that gives us additional potential.”

The study comes on the heels of figures from Germany’s economic development bank, the KfW, showing that EUR 4 billion was invested in German-based start-ups in the first six months of 2025. That represented an annual increase of 45 percent. It’s the third straight half-year period in which start-up funding has risen.

“Despite the current economic volatility, entrepreneurs are choosing Germany,” says Germany Trade & Invest Director of Trend & Innovation Scouting Philipp Kövener. “This trend is evidence of Germany’s well-developed innovative strength and its robust startup ecosystem. Our excellent research and development capacities, high qualified talents, modern infrastructure and our receptivity to new technologies make Germany an ideal location for tech start-ups.”

Germany Trade & Invest is the German government agency for international business promotion and is owned by the Ministry for Economic Affairs and Energy. It helps international companies do business in Germany and German companies do business abroad.

Contact:

Jefferson Chase, Senior Communications Manager, Germany Trade & Invest, Friedrichstrasse 60, 10115 Berlin, Germany.
[email protected]
+49 30 200099170

SOURCE Germany Trade & Invest

MADISON, Wis., July 8, 2025 — RoofMarketplace, the trusted platform reinventing the roofing claims experience, today announced a new chapter in its growth with the appointment of Scott Holewinski as Chief Executive Officer and the close of a strategic $7M Series A round led by Wingra Capital to support the company’s long-term vision.

Holewinski joins a strong, established team that has laid the foundation for RoofMarketplace to date. With new capital and leadership in place, the company is doubling down on its mission to simplify and modernize property claims by helping insurance carriers improve claim accuracy, empowering homeowners with real choice, and driving opportunities to a trusted contractor network.

“With RoofMarketplace, we see a platform that doesn’t just reduce friction, it gets roofs repaired in a more efficient, reliable way,” said Nick Jackson, Partner at Wingra Capital. “They’re delivering what the claims industry has needed for years: real bids, completed jobs, and satisfied policyholders. We’re excited to support their continued growth.”

To guide this next phase, Holewinski brings more than two decades of experience at the intersection of technology and risk management. He previously founded and led Tetra Defense, a cybersecurity and incident response company acquired by Arctic Wolf in 2022, where he went on to serve as SVP & GM of Incident Response and Insurance Solutions. Earlier, he co-founded Gillware Data Services, a data backup and business continuity software company acquired by StorageCraft in 2016.

“What drew me to RoofMarketplace is how clearly the platform solves a real problem for everyone involved—insurance carriers, contractors, and homeowners,” said Holewinski. “In just a few months with the team, I’ve seen firsthand how powerful the model is. We’re not just improving the process; we’re driving better outcomes where it counts.”

Across the property insurance landscape, carriers are navigating an increasingly volatile claims environment, marked by labor shortages, rising material costs, and a surge in severe weather events. At the same time, they face mounting pressure to improve claim accuracy and reduce loss adjustment expenses (LAE), which reached more than $149 billion in unpaid reserves as of mid-2024, according to the NAIC. This turbulence is exposing the limitations of traditional claims workflows and stretching carrier resources.

RoofMarketplace offers a more efficient, transparent, and outcome-driven approach to roofing claims that helps carriers close claims with confidence, while also ensuring a smooth roof repair or replacement process for policyholders. This approach gives carriers access to real market pricing, reduces cycle time, and improves claim accuracy. For homeowners, it restores a sense of control and transparency during a disruptive time. For contractors, it delivers qualified opportunities and a smoother experience, with the support needed to complete the job successfully.

The recent capital investment will support RoofMarketplace’s strategic priorities across product development, team expansion, and long-term scalability. Near-term focus areas include enhancing the platform to support a wider range of claim types, growing the team to meet rising demand, and deepening partnerships across the insurance ecosystem.

To help lead this next phase, RoofMarketplace recently welcomed two key additions to its leadership team:

• Brian Beermann joins as Chief Technology Officer, bringing more than two decades of engineering and SaaS leadership experience. He previously led platform and team growth at UW Credit Union and Digioh, with a focus on secure, scalable systems.
• Lauren Reid joins as Vice President of Marketing & Communications. She brings deep expertise in insurance ecosystem from her time at Tetra Defense and Arctic Wolf, where she led channel marketing programs supporting 30+ national insurance carriers and brokers.

With the full team aligned and new leadership in place, RoofMarketplace is positioned to expand its impact, deliver greater value across the claims ecosystem, and accelerate its momentum in reshaping the future of roofing claims from start to finish.

About RoofMarketplace
RoofMarketplace is a trusted marketplace reinventing the roofing claims experience. Homeowners, insurance carriers, adjusters, and local, vetted contractors connect through our platform to ensure top-quality, warrantied roofs are repaired or replaced at competitive prices—without the hassle. For more information, visit www.roofmarketplace.com or contact [email protected].

SOURCE RoofMarketplace Inc.

SAN FRANCISCO, July 8, 2025 — NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS), has appointed Dr Patrick Ennis and Ms Donna See as strategic advisors to support its next phase of growth in innovation and deep-tech commercialisation.

Dr Patrick Ennis (LinkedIn) brings more than three decades of experience at the intersection of science, business, and venture capital. He has held leadership roles at Bell Labs, ARCH Venture Partners, and Intellectual Ventures, and currently serves as a Venture Partner at Madrona Venture Group in Seattle. He has helped build and fund 10 deep tech companies that have gone public or been acquired by major global firms.

At NUS, he will advise on research translation policy, incubation, start-up evaluation, venture investment strategy and international engagement to help accelerate the translation of research into scalable global ventures.

“NUS has the key ingredients to become a global hub for deep-tech innovation, and I’m excited to contribute to its growing momentum by helping connect world-class research with international research institutions, partners, capital and markets,” said Dr Ennis.

Ms Donna See (LinkedIn) brings deep expertise in academic research commercialisation, with a focus on technology-enabled life sciences. She has co-founded, operated, and invested in university spin-offs and held senior leadership roles at the nexus of science, business, and intellectual property, including as Director at Columbia Technology Ventures and founding CEO of Xora Innovation, Temasek’s deep tech investment platform.

At NUS, she will advise on strengthening research translation policies, capabilities, and global networks, advancing the university’s ability to compete on the world stage and maximise the impact of breakthrough innovations from its deep tech labs.

“As a Trustee, mentor, and investor in NUS spin-outs, I’ve witnessed firsthand the transformative power of NUS research. NUS Enterprise is turning that potential into real-world impact — sustainably and at scale. I’m proud to support this bold vision and look forward to helping shape its future alongside university leadership,” said Ms See.

Commenting on the appointments, Dr Sian W. Tan, NUS Senior Vice President (Innovation & Enterprise), said, “We are delighted to welcome Patrick and Donna as strategic advisors to NUS Enterprise. Their deep expertise in research translation and global venture capital aligns directly with our ambition to position NUS as a magnet for top talent and a driver of innovation at global scale. Their guidance will be critical as we scale our venture-building and investment platforms, build our international presence, and pursue bold targets for revenue generation, job creation, and societal impact.”

Please see the annexe for corporate biographies of Dr Patrick Ennis and Ms Donna See. 

For media enquiries, please contact:

For NUS Enterprise (APRW on behalf of NUS Enterprise):
Aye Mya Mya Toe (Mya)
+65 9237 4813
[email protected]

Qistina Nabilah
+65 8820 9946
[email protected]

SOURCE NUS Enterprise

SAN MATEO, Calif., July 8, 2025 — Parspec, an AI-native software platform that enables wholesale distributors and sales agents to efficiently bid and supply construction products, today announced it has raised $20 million in Series A funding. The round was led by Threshold Ventures (formerly DFJ), with participation from existing venture investors including Innovation Endeavors, Building Ventures, Heartland Ventures, and Hometeam Ventures.

The global construction industry represented a $16 trillion market in 2024, with over $5 trillion flowing through the materials supply chain. Despite this scale, much of the industry still relies on outdated procurement processes managed through email and phone. These methods are time consuming and error prone, resulting in labor costs that are double comparable industries such as auto parts and electronics.

Parspec’s customers consistently report 50-100% improvement in labor productivity, while simultaneously improving bid quality and compliance. “With Parspec, we’ve been able to significantly reduce quote and submittal turnaround times.” said Rama Theekshidar, Chief Digital Officer at U.S. Electrical Services Inc. “This efficiency empowers our team to pursue and win more projects—fueling profitable growth across the business. The team at Parspec are true thought leaders, consistently pushing the boundaries of what’s possible in our industry, and we are proud to partner with them.”

A key differentiator for Parspec is their ability to instantly identify products available in the market that satisfy complex specifications provided by the customer. To do so, Parspec has developed cutting-edge multimodal AI models which extract these requirements from design drawings and specification documents. Next, a ranked set of compliant products are surfaced to the user from a database of over 6 million products. To ensure Parspec’s product catalog is current and comprehensive, they have developed an automated data pipeline which extracts and organizes product information from thousands of manufacturer websites on a daily basis.

“Forest, Pratyush and the Parspec team are tackling one of the largest opportunities in the construction industry,” said Mo Islam, Partner at Threshold Ventures. “They have developed an AI-native product to automate construction materials procurement, unlocking massive value for their customers.”

“We’re excited to partner with Threshold to accelerate our mission to enable a more connected and efficient construction supply chain,” stated Forest Flager, Cofounder and CEO of Parspec. “With this new funding, and in close collaboration with our existing customers, Parspec plans to expand our platform to support the full order lifecycle and to create a unified digital environment for collaboration between contractors, distributors, sales agents and manufacturers.”

4x Annual Revenue Growth Drives Expansion To New Markets

Powered by its best-in-class quoting and submittal platform, Parspec has experienced 4x revenue growth over the past 12 months and now supports hundreds of distributors, and sales agents—including four of the five largest electrical distributors in the U.S., who collectively represent $70 billion in global annual sales.

“Incorporating the Parspec platform into Graybar’s industry-leading service capabilities has significantly improved how we quote and bid on projects, enhancing our overall customer experience,” said Danna Stone, Senior Vice President, Marketing at Graybar. “We look forward to working with Parspec to transform the supply chain.”

Parspec started in 2021 with a focus on lighting and electrical products and has since expanded to support mechanical, electrical and plumbing (MEP) products. Together, MEP products represent approximately one quarter of the total U.S. construction material spend.

Building for a More Connected Supply Chain

Parspec plans to invest the majority of their Series A capital into product development, focused in two main areas:

• Distributor Order Management: Providing an end-to-end solution for the project order lifecycle including quote, submittal and fulfillment phases.
• Contractor Portal: Providing construction material buyers live access to project documents, order status, delivery tracking and real time communication and collaboration tools.

These new products are being developed in close collaboration with Parspec’s existing customers, including Rexel, Border States, U.S. Electrical Services, and Crescent Electrical Supply.

“Parspec is transforming the way we deliver value to our customers. From lightning-fast quote turnarounds to professional, timely submittal packages, the time savings have been a true differentiator.” noted Jennifer Cianciarulo, Vice President Customer Experience at Crescent Electric Supply. “Adding a contractor portal to the Parspec platform will be a total game changer, enhancing the overall customer experience and unlocking new levels of efficiency. We’re honored to join Parspec’s steering committee and help shape the next chapter of innovation.”

Parspec is actively seeking additional leading distributors, sales agencies and manufacturers to join their product steering committee for this next phase in Parspec’s journey. Pilot engagements are already underway, and the commercial launch of Distributor Order Management and the Contractor Portal is expected by the end of 2025.

About Parspec

Parspec is a technology company that is focused on streamlining the business-to-business procurement process for construction materials, starting with mechanical, electrical and plumbing products. Founded in 2021 by Forest Flager and Pratyush Havelia and headquartered in San Mateo, California, Parspec’s AI-native software platform empowers distributors and sales agents to bid more jobs, increase revenue, and reduce cost of sales with advanced tools for product selection, quoting, and submittal preparation. Parspec has raised $31 million dollars to date from leading deep tech and construction technology venture investors. For more information, visit https://parspec.io/

About Threshold Ventures

Threshold Ventures (formerly DFJ) is an early-stage venture capital firm. Threshold’s investments include SpaceX, Tesla, Rippling, Box (NYSE: BOX), Skype, Twilio (NYSE: TWLO), Remitly (NASDAQ: RELY) and Doximity (NYSE: DOCS). Based on our work with these and dozens of other startups, the firm was purpose-built to be the most effective partner for entrepreneurs at the early stages of building their companies. Learn more at www.threshold.vc.

Media Contacts

Parspec
[email protected]

Threshold Ventures (formerly DFJ) 
[email protected]

SOURCE Parspec

Strategy Invests in Pre-Seed to Series A SMB Technology and Business Services SaaS-Focused Companies to Unlock Meaningful Value

LAS VEGAS, July 8, 2025 — Acquisition.com, a private investment and advisory firm built by experienced entrepreneurs and world-class professionals, today announced the public launch of ACQ Ventures, a dedicated venture capital arm focused on investing in pre-seed to series A startups within the business services SaaS and SMB technology ecosystem. ACQ Ventures will be led by Acquisition.com founders Leila Hormozi and Alex Hormozi, along with President of Acquisition.com and Managing Partner Sharran Srivatsaa and General Partners Zac Choi and Ben Rodman.

ACQ Ventures invests in innovative technology-focused startups led by talented and driven founders focused on solving meaningful problems for businesses and operators across industries. Portfolio companies will benefit from the entire Acquisition.com platform and network, which reaches millions of entrepreneurs, operators, potential customers, and investors. Through its investments, the firm also provides the capital and expertise startups need to execute on go-to-market initiatives and drive rapid, sustainable growth.

“We are thrilled to officially announce the launch of our dedicated venture arm, which builds on the significant trust and insights we have developed through years of operating and scaling businesses and supporting thousands of founders through our Acquisition.com network and advisory platform,” said      Mr. Hormozi. “This is the natural next step for our platform as we continue to position Acquisition.com as the go-to partner for the best and brightest founders around the world. Leila and I are excited to continue working closely with Sharran, Zac, and Ben as we execute on this mission.”

“Having invested in over 100 companies and served on a public company board, nothing excites me more than backing founders building tech that empowers SMBs and operators,” said Mr. Srivatsaa. “At ACQ Ventures, we are using the lessons we learned as business builders to back the next generation of founders creating tools we wish we had as operators.”

“ACQ Ventures is led by serial entrepreneurs who have built, scaled, and sold startups focused on serving small-to-midsized businesses. Our team brings an unparalleled understanding of what it takes to make SMB tech startups successful,” said Mr. Choi. “We are confident this experience and track record, alongside the association with Acquisition.com’s brand, will give the entrepreneurs we work with an asymmetric advantage across their startup journey. We look forward to hearing from and working with ambitious founders building technology that redefines what’s possible for Main Street businesses.”

“We are deeply engaged in the small business ecosystem as serial founders, investors, and advisors to thousands of small businesses, giving us unique insight into the needs and challenges SMBs face every day,” said Mr. Rodman. “The ACQ Ventures team is focused on investing in the startups building the tools and technology enabling entrepreneurs to win – from operations and administration to cutting-edge, growth-oriented SaaS solutions. By providing access to the full breadth of the Acquisition.com network, we are uniquely positioned to invest in, advise, and empower tomorrow’s industry-leading visionaries.”

To date, ACQ Ventures has made dozens of investments to back innovation-focused brands, including Carry.com, tax-advantaged accounts for business owners; Otis AI, the AI digital advertiser for growing businesses; CaseFlood, an AI-native front-office for private legal practices; Stan, the All-In-One Creator Store; and JOON, Wellness Benefits Accounts for modern businesses.

To learn more about ACQ Ventures and its team, please visit ventures.acquisition.com.

About Acquisition.com
Acquisition.com is a private investment and advisory firm with a modern media twist built by experienced entrepreneurs and world-class professionals. Founded by Alex and Leila Hormozi, its mission is to help ambitious individuals build extraordinary businesses.

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SOURCE Acquisition.com