From Term Sheets to Git Commits: Investment Yields 7-14x Exits, 20–34% Faster Funding for Founders, and 27% More Community Builders

AMSTERDAM, Aug. 25, 2025 — Open Source Summit Europe – The Linux Foundation, the nonprofit organization enabling mass innovation through open source, in partnership with Serena, a leading European venture capital fund, and the Commercial Open Source Startup Alliance (COSSA), today released The State of Commercial Open Source 2025 Report, which shows the connection between open source community indicators and venture capital activity. According to the report, the aggregate funding for commercial open source (COSS) startups totalled $26.4 billion in 2024 and these startups average 7x greater valuations at IPO and 14x at M&A, as compared to closed-source peers.

COSS companies consistently outperformed their peers in fundraising velocity, early-stage valuation and liquidity outcomes. For example, the report found that the median IPO valuations for COSS companies were $1.3 billion (vs. $171 million for closed-source peers), and M&A valuations were $482 million (vs. $34 million for closed-source peers). The report demonstrates that open source is not only a viable strategy for startups and investors, it is a superior one, particularly for companies building infrastructure software.

Among the report’s key findings:

• Greater Valuation: COSS firms average 7x greater valuations at IPO and 14x at M&A, as compared to closed-source peers
• Greater Graduation Rates: COSS likelihood of progressing from Seed to Series A nearly twice as high as their closed-source counterparts
• Higher Valuations: COSS companies raise at higher valuations, with median multiples of 1.6x at Series A and 1.23x at Series B compared to closed-source peers, and secure larger rounds, especially at Seed (1.45x) and Series A (1.33x)
• Fund Faster: COSS companies move through the funding funnel more quickly, with shorter time gaps between rounds, 20% faster to Series A and 34% faster to Series B
• Exits are Real: 12% of COSS companies in the venture funnel have reached IPO or acquisition
• Established Investment Category: COSS accounts for an average of 250 deals per year and about $9 billion deployed yearly by investors from 2019-2024
• Open Source Companies Focused on the Backbone of Modern Software: Around 90% of COSS companies operate in infrastructure software rather than business applications
• Commercial Open Source is Heavily Concentrated in the US: The United States (65%) and the European Union (25%) provide the bulk of the COSS IPO supply
• Commercial and Community Value Coincide: Project community measures like distinct contributors and OpenSSF Criticality Score are strong correlates of pre-money valuation
• Both Companies and Communities Benefit from Venture Funding: COSS projects experience a 27% increase in distinct contributors, an 8x increase in dependent projects, and a 7x increase in package downloads on average following funding rounds

“For years, open source founders have had to defend their business model. This report flips the narrative,” said Matthieu Lavergne, partner at Serena. “The best performing startups in infrastructure are not hiding their source code—they’re sharing it. What we see in this report is open source emerging as the rule rather than the exception for success in infrastructure software.”

“Commercial open source is not just an alternative to proprietary software, it is the foundation of a higher-performing venture model,” said Matt Trifiro, founder & executive director at COSSA. “The data confirms that investment in commercial open source accelerates community health, software quality, economic return and ecosystem growth. Open source is a vital part of the commercial market.”

“COSS startups are not only highly valuable companies but essential to open source ecosystems,” said Frank Nagle, Chief Economist at the Linux Foundation and Research Scientist at the Massachusetts Institute of Technology (MIT). “The data is clear: commercial open source companies not only compete with proprietary models, they often outperform them — reaching higher valuations with greater efficiency. When capital and community are aligned, investment can fuel their growth, adoption, and long-term impact of open source projects.

The findings draw from two significant datasets of over 800 venture-backed companies and 13 open source community indicators, making this study the most comprehensive view to date of the financial dynamics shaping commercial open source (COSS) businesses. Read the full report at: https://www.linuxfoundation.org/research/2025-state-of-commercial-open-source

Methodology
This report draws on two important strands of data. The first dataset tracks over 800 VC-backed COSS companies globally, exploring their financial journey using 25 years of data from 2000 through 2024. The second dataset adds a layer of open source community indicators to the financial  analysis. Exploring nearly three years (June 2022 through May 2025) of data on open source community indicators covering all public GitHub repositories managed by the COSS companies in the sample. Community data collected to evaluate the correlation between community and commercial OSS initiatives was scored using the Open Source Security Foundation’s (OpenSSF) Criticality Score. These metrics include factors like project age, commit and release cadences, diversity and contributor growth.

As the premier publication from the newly formed Commercial Open Source Startup Alliance (COSSA), the State of Commercial Open Source report represents the culmination of work begun in late 2024 under Linux Foundation incubation. COSSA intends to contribute to this report annually to track the evolving landscape of commercial open source.

About COSSA
The Commercial Open Source Startup Alliance (COSSA) is dedicated to strengthening the discipline of commercial open source. The organization delivers shared data, mentorship, and best practices to support entrepreneurs, investors and communities building the next generation of open source companies. Learn more at https://cossa.io.

About Serena
Serena is one of Europe’s leading venture capital funds, with €1 billion under management. Focused on AI, SaaS, Climate Tech, and Deep Tech, Serena has invested in more than 100 startups, including Dataiku, Malt, and Electra. Learn more at serena.vc.

About the Linux Foundation
The Linux Foundation is the world’s leading home for collaboration on open source software, hardware, standards, and data. Linux Foundation projects are critical to the world’s infrastructure including Linux, Kubernetes, Node.js, ONAP, OpenChain, OpenSSF, OpenStack, PyTorch, RISC-V, SPDX, Zephyr, and more. The Linux Foundation is focused on leveraging best practices and addressing the needs of contributors, users, and solution providers to create sustainable models for open collaboration. For more information, please visit us at linuxfoundation.org.

The Linux Foundation has registered trademarks and uses trademarks. For a list of trademarks of The Linux Foundation, please see its trademark usage page: www.linuxfoundation.org/trademark-usage. Linux is a registered trademark of Linus Torvalds.

Media Contact
The Linux Foundation
[email protected]

SOURCE The Linux Foundation

DUBLIN, Aug. 25, 2025 — ProVerum Limited, the developer of the ProVee® System for BPH, a minimally invasive solution for treating benign prostatic hyperplasia (BPH), announced today the closing of an $80 million Series B equity financing.  The financing was led by MVM Partners, who were joined by new investors OrbiMed and the Ireland Strategic Investment Fund (ISIF), and included participation from existing investors Gilde Healthcare Partners, Lightstone Ventures, Atlantic Bridge and Enterprise Ireland amongst others.

The ProVee System uses a nitinol stent designed to gently re-shape the enlarged BPH prostate and alleviate the associated lower urinary tract symptoms. It is deployed through a low profile, flexible, steerable delivery system with integrated imaging, which is the same size as the office-based endoscopes routinely used for diagnosing BPH. Proceeds from the financing will be used to prepare for commercialization.

“I’m delighted to welcome MVM, OrbiMed and ISIF to the ProVerum team,” said Paul Bateman CEO of ProVerum Ltd. “This is an exciting time for the company as we prepare to commercialize our novel treatment for men with BPH.”

The Company also welcomed Hugo Harrod, Partner at MVM Partners, and Dina Chaya, Partner at OrbiMed, to its Board of Directors.

MVM partner Hugo Harrod commented: “ProVerum exemplifies MVM’s focus on disruptive medical products addressing areas of true unmet need. We look forward to applying our experience in commercial stage medical technology to support the Company through its next phase.”  

OrbiMed Partner Dina Chaya said, “ProVerum has an innovative minimally invasive treatment for BPH and is led by a first-class team. We are delighted to be supporting the Company through the next stage of its growth.”

About ProVerum

ProVerum Ltd. is an innovative Dublin based company focused on the development of novel minimally invasive technologies to treat BPH.  Our first product offering, the ProVee® System for BPH is an investigational device, limited by federal law to investigational use and not available for sale within the United States.  For more information visit www.proverummedical.com or connect with us on X or LinkedIn.

About MVM Partners

MVM has invested in high-growth healthcare businesses since 1997. With teams in Boston, London, and the San Francisco Bay Area, MVM has a broad, global investment outlook spanning medical technology, pharmaceuticals, diagnostics, contract research and manufacturing, digital health, and other sectors of healthcare. More information can be found at www.mvm.com.

About OrbiMed

OrbiMed is a leading healthcare investment firm, with over $17 billion in assets under management. OrbiMed invests globally across the healthcare industry, from start-ups to large multinational corporations, through private equity funds, public equity funds, and royalty/credit funds. OrbiMed seeks to be a capital provider of choice, providing tailored financing solutions and extensive global team resources to help build world-class healthcare companies. OrbiMed’s team of over 130 professionals is based in New York City, London, San Francisco, Shanghai, Hong Kong, Mumbai, Herzliya, and other key global markets.

About the Ireland Strategic Investment Fund

The Ireland Strategic Investment Fund (ISIF) is a sovereign development fund which has a mandate to invest on a commercial basis in a manner designed to support economic activity and employment in Ireland. ISIF is controlled and managed by the National Treasury Management Agency, a State body which provides asset and liability management services to the Irish Government.

SOURCE ProVerum

NEW YORK, Aug. 24, 2025 — InvestN.AI, a fintech company revolutionizing the trading industry, announced the launch of its advanced AI-driven trading technology designed to make financial markets accessible for everyone – whether they are seasoned traders or complete beginners.

With a proven track record and high performance in both futures and forex markets, InvestN.AI’s proprietary software integrates seamlessly with regulated brokers across the globe, giving users the freedom to trade with their preferred platforms. The company also offers a suite of TradingView-compatible indicators, empowering those who prefer to trade manually with tools that provide real-time market intelligence and precision.

“At InvestN.AI, our mission is to level the playing field,” said Brandon Rangel, CEO of InvestN.AI. “Whether someone has years of experience or is completely new to trading, our technology provides a pathway to potential earnings from the markets—without the steep learning curve or emotional pitfalls that cause most traders to fail.”

Automated Trading for All

InvestN.AI’s automated solutions are designed for maximum flexibility:

• Trade with Personal Capital – Users can connect their own accounts with regulated brokers and allow the algorithm to manage trades hands-free.
• Trade Without Capital – For those without significant funds, InvestN.AI helps clients access prop firm funding programs, guiding them through evaluations to unlock up to $6 million in trading capital provided by proprietary trading firms.

This dual approach gives investors and traders at every stage of their journey the opportunity to participate in the financial markets with confidence.

Transparency and Global Reach

“Our vision is to create financial freedom through technology,” added Brandon Rangel. “By combining AI, automation, and funding opportunities, we’re building an ecosystem where anyone, regardless of background, can thrive in the trading space. We also love the fact that we never have control or custody of a client’s funds — our technology simply integrates with their own trading accounts. That transparency builds trust and gives people confidence that they remain in full control at all times.”

Currently, InvestN.AI supports clients across the USA, UK, Canada, and Europe, with expansion underway in other regions worldwide.

Bridging Technology and Opportunity

Beyond automation, InvestN.AI equips traders with a comprehensive toolkit of AI-powered indicators, strategies, and community support. These tools not only improve decision-making for manual traders but also serve as a valuable educational resource for those looking to deepen their market knowledge.

About InvestN.AI

InvestN.AI is a global fintech company specializing in AI-powered trading technologies for forex, futures, and digital assets. The company’s software is designed to integrate with virtually any broker or platform, offering both automated trading solutions and advanced indicators for manual traders. Through partnerships with leading proprietary trading firms, InvestN.AI also provides clients with access to significant trading capital, making market participation possible for all. The company currently serves clients across the USA, UK, Canada, and Europe, with plans for global expansion.

For more information, users can visit: www.investn.ai

Contact

CEO
Brandon Rangel
InvestN.AI
[email protected]

Logo – https://mma.prnewswire.com/media/2756651/InvestNAI_Logo.jpg

SOURCE InvestN.AI

BFF recognized by The Global Banking & Finance Awards

SINGAPORE, Aug. 22, 2025 — Blockchain Founders Fund (BFF), a leading early-stage venture capital firm backing blockchain and emerging technology startups, has been named “Venture Capital Firm of the Year Singapore 2025” by the Global Banking & Finance Awards.

The Global Banking & Finance Awards, established in 2011, evaluate firms across 190+ countries based on investment performance, portfolio growth, and ecosystem contributions. BFF received the 2025 recognition in the Fund & Asset Management category.

With an active portfolio of over 160 companies representing more than 200 investment rounds worldwide, the firm has built a diverse portfolio spanning decentralized finance, digital assets, fintech infrastructure, and frontier technologies.

“We are honored to receive this award, which reflects the hard work of our team and the vision of the incredible founders we support,” said Mansoor Madhavji, Managing Partner at Blockchain Founders Fund. “Our mission remains the same, backing bold entrepreneurs building meaningful, real-world applications that advance the blockchain industry.”

Aly Madhavji, managing partner at BFF, added, “Singapore continues to be a vital hub for blockchain innovation, and this award reflects the strength of our local ecosystem as much as our own work. We’re proud to play a part in building the infrastructure and networks that help transformative ideas reach global markets.”

Recent portfolio highlights include NodeOps (validator infrastructure), Kredete (AI credit platform), HiFi (fixed-rate DeFi lending platform), and Velvet Capital (DeFi asset management platform), demonstrating BFF’s diversified approach to emerging technology sectors.

Founded in Singapore with a global investment mandate, Blockchain Founders Fund collaborates with institutional investors, family offices, and corporate venture arms to foster sustainable growth in the decentralized economy.

About Blockchain Founders Fund
Blockchain Founders Fund is a leading early-stage (seed and pre-seed) Venture Capital fund that invests in top-tier founders globally. Our backers comprise a strategic mix of leading firms in the cryptocurrency and traditional finance sectors.

We invest in exceptional founders building next-generation technology companies, providing strategic capital alongside hands-on operational expertise. Beyond funding, BFF delivers comprehensive support, including go-to-market strategy, strategic partnerships, talent acquisition, and follow-on fundraising. Our team of proven builders and operators, with experience scaling leading technology companies, helps portfolio founders navigate complex markets and achieve rapid, sustainable growth.

Press Contact:
Mansoor Madhavji, Partner
Blockchain Founders Fund
60178799291
[email protected]

SOURCE Blockchain Founders Fund

$10,000 grants will advance projects across technology, science, the arts and social innovation

GREENWICH, Conn., Aug. 22, 2025 — O’Shaughnessy Ventures LLC (OSV), an investment firm that empowers creators, has awarded 22 O’Shaughnessy Grants totaling $220,000 to creators, builders and researchers pursuing breakthrough projects in technology, science, the arts and social innovation.

Launched in 2023, the O’Shaughnessy Grants Program provides $10,000 awards to ambitious individuals tackling complex challenges across diverse fields. This year’s cohort spans four continents and includes projects ranging from genetically engineered, designable flowers to autonomous spacecraft built to seed life throughout the universe. The grantees also include:

• Paul “Benbrick” Carter (London, England). Peabody Award-winning producer. Carter is creating an audio series that blends orchestral composition, immersive sound design, AI experiments and narrative storytelling.
• Addy Cha (Florida, USA). Founder of the research institute Ekkolápto and researcher at Florida Atlantic University’s Machine Perception and Cognitive Robotics Laboratory. Cha is developing noninvasive communication systems to enable efficient human-animal communication.
• Alfaxad Eyembe (Kyoto, Japan). Founder of the AI research lab Nadhari. Eyembe is advancing frontier AI applications in sub-Saharan Africa, including by building comprehensive Swahili datasets.
• Miyoba Hamuhuma (Chipata, Zambia). CEO of the nonprofit organization Enlight Abilities. Hamuhuma is expanding mainstream school enrollment for children with disabilities in Zambia.
• Daniel Van Zant (Florida, USA). Doctoral candidate in computational neuroscience at Florida Atlantic University. Van Zant is developing an AI co-pilot that generates hallucination-free, well-cited responses to natural language queries.
• Jose Luis Sabau (Mexico City, Mexico). Writer and journalist. Sabau is launching Perpetuo, a magazine that aims to feature stories from leading Spanish-language writers.

The complete list of 2025 grant recipients and their projects is available in the OSV newsletter.

“Our goal with the Grants Program is simple: to give extraordinary people the resources and support they need to take their projects to the next level,” said Jim O’Shaughnessy, founder and CEO of OSV. “We’re excited to help bring their ambitious visions to life.”

About the O’Shaughnessy Fellowships and Grants Program

Launched in 2023, the O’Shaughnessy Fellowships and Grants program discovers and empowers the world’s boldest creatives, builders and researchers. Fellows receive $100,000, while grantees receive $10,000. Both groups gain access to OSV’s network of founders, investors and experts.

OSV has awarded 12 fellowships and 22 grants in 2025. More information about previous fellows and grantees is available at OSV’s website.

Applications for the fellowships and grants are now closed and will reopen on Jan. 1, 2026. Individuals interested in learning more can do so via OSV’s website.

About O’Shaughnessy Ventures

OSV is a creative investment firm that empowers creators to bring their ideas to life. Founded by Jim O’Shaughnessy, a pioneer in quantitative investing, founder of O’Shaughnessy Asset Management, and author of five books, OSV aims to provide financial support and to partner in growing the next life-changing creative ideas.

OSV combines Jim’s deeply rooted interest in all things art, science, investing and technology with his long-held desire to establish scenarios designed to help promising creators and their inspiring ideas succeed, regardless of age, location, job history or level of education. For more information, visit OSV’s website.

Media Contact:
Ena Gong
O’Shaughnessy Ventures LLC
(917) 355-7420
[email protected] 

SOURCE O’Shaughnessy Ventures

A roundup of the most newsworthy financial press releases from PR Newswire this week, including Aon’s strategic investment advancing employer-focused obesity solutions and the new Atmos^™ Rewards Summit Visa Infinite^® card from Alaska Airlines.

NEW YORK, Aug. 22, 2025 — With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

1. Aon Announces Strategic Investment in eMed to Scale GLP-1 Population Health Platform
   The investment follows the launch earlier this year of Aon’s subsidized GLP-1 weight management benefit program for its U.S. workforce – developed by eMed – which has delivered strong adherence, high retention and sustainable results for the firm’s colleagues.
2. Alaska Airlines and Bank of America present a new premium credit card designed for global travelers, the Atmos^™ Rewards Summit Visa Infinite^® card
   The Atmos Rewards Summit card is designed for global travelers and modern explorers, featuring a brand-new Global Companion Award benefit, passes to Alaska Lounges, a faster path to achieving status, 3x points on all eligible dining and foreign purchases, and more.
3. Workday and DailyPay Form Strategic Partnership to Bring On-Demand Pay to Millions of Workers
   Through this collaboration, employers can give workers, including frontline and hourly workers, real-time access to their money as they earn it.
4. Foundation Building Materials, Building Products Distribution Company Owned By American Securities and CD&R, To Be Sold To Lowe’s In $8.8 Billion Transaction
   Under the ownership of American Securities and CD&R, FBM has experienced a period of exceptional growth resulting in 27% per annum revenue growth and 31% per annum EBITDA growth.
5. Retirees Fear Rising Costs from Tariffs and Inflation will Outpace Social Security Benefits
   According to the 12th edition of the Nationwide Retirement Institute’s Social Security Survey, half of retirees are terrified about the impact of tariff changes on their retirement income or savings, and 63% believe these rising tariffs will drive inflation beyond what Social Security Cost-of-Living Adjustments (COLAs) can cover.
6. BitMine Immersion (BMNR) is the #1 ETH treasury in the world, now 2nd largest crypto treasury globally and the 10th most liquid US stock, trading $6.4 billion per day on average
   BitMine Crypto holdings of $6.6 billion ETH is a $1.7 billion increase from $4.9 billion reported last week.
7. truckstop.com Acquires DENIM, Bring Enhanced Financial Solutions and Back-Office Automation to Freight Carriers and Brokers
   By integrating Denim’s innovative financial technologies into truckstop.com’s expansive freight matching and carrier identity solutions, the combined entity will enhance operational stability, improve liquidity, and reduce business risk for carriers and brokers alike.
8. Pye-Barker Launches “ALL In” Employee Ownership Program
   The move makes Pye-Barker the largest company in the fire and life safety industry to be powered by employee ownership, underscoring its deep commitment to shared success and a culture where everyone thrives.
9. Nine in 10 Small to Mid-Sized Businesses Worry They Won’t Be Able to Afford Health Benefits in Three Years
   eHealth, Inc. released new research showing most small- to mid-sized employers are worried about being able to afford offering health benefits in the future, while awareness of a defined contribution approach remains unchanged from a year ago.
10. J.P. Morgan Asset Management Unveils New JPMorgan Equity and Options ETF (JOYT)
    “JOYT reflects our commitment to providing cutting-edge active ETFs that address the diverse needs of our clients,” said Travis Spence, Global Head of ETFs at J.P. Morgan Asset Management. “This addition offers investors a sophisticated approach to seeking diversified sources of total return beyond market appreciation.”
11. Thumzup to Acquire Dogehash Technologies, Inc., a Leader in DOGE Digital Asset Mining
    The combined company aims to become the world’s leading Dogecoin mining platform and will leverage Dogecoin Layer-2 infrastructure via staking in DeFi products within the DogeOS ecosystem to enhance miner economics and amplify yield beyond base block rewards.
12. A Savings SOS: Parents Struggle with Savings Inertia, According to Vanguard Survey
    Parents spend more than expected on child-related expenses while their hard-earned savings often lose value in traditional bank checking and savings accounts that trail the pace of inflation, according to Vanguard’s new consumer survey.
13. Home values are rising in half the country, falling in the other
    “Perhaps more than ever, whether it’s a good time to buy depends on where you live,” said Kara Ng, senior economist at Zillow. “A defining trait of this market is that buyers are gaining leverage that most of them can’t use, because cost barriers are too high. Buyers forced to the sidelines means less competition for those who can still afford it.”
14. Mastercard and Alloy Launch Enhanced Identity and Fraud Prevention Solution to Streamline Onboarding
    The new Mastercard Alloy joint onboarding solution will leverage identity verification and open finance to streamline the end-to-end onboarding process while combatting fraud.
15. Debt.com’s 2025 Financial Regrets Survey Reveals Credit Card Debt Still America’s #1 Money Mistake
    Nearly 8 in 10 Americans (78%) said they have at least one financial regret, according to Debt.com’s 2025 Financial Regrets Survey of more than 1,000 adults. Topping the list again was credit card overspending at 24%, an uptick from last year when 21% responded the same way.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

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SOURCE PR Newswire

HOUSTON, Aug. 21, 2025 — Vitol, a leader in energy and commodities, and Breakwall Capital (“Breakwall”), a credit investment firm that services the energy industry, today announced the inaugural transaction by their joint venture, Valor Mining Credit Partners, L.P. (“VMP” or the “Partnership”).

VMP has completed a $150 million senior secured, first lien term loan financing in a private transaction to support a U.S. metallurgical coal mining operation. Proceeds will be used for capital expenditures and working capital.

Formed by Vitol and Breakwall in July 2025, VMP seeks to provide structured credit solutions to mining companies across the Americas. The speed with which VMP originated, structured, and executed its first transaction reflects the Partnership’s ability to deploy flexible capital with discipline and in a timely manner.

“VMP was formed to take advantage of a dearth of credit capital available to support high quality assets and seasoned management teams,” said Christopher Abbate, Jamie Brodsky, and Daniel Flannery, Managing Partners of Breakwall. “This inaugural investment underscores our capacity to provide short duration, structurally nimble, asset backed loans to facilitate the development and production of raw materials from top tier mining assets that are critical to North American industrial development and energy generation.”

Ben Marshall, Head of the Americas, Vitol, added: “Through VMP, Vitol is expanding its investments across critical industrial supply chains. We look forward to supporting projects that can deliver reliable supply and long-term value.”

VMP targets event driven financings, including debt refinancings, acquisition funding, and development capital, providing companies with flexible solutions to accelerate growth and drive shareholder value. Additional details of the transaction are not being disclosed at this time.

SOURCE Vitol

Costanoa and Acrew Capital back the founding team’s bold vision for the future of enterprise analytics

WILMINGTON, Del., Aug. 21, 2025 — Definite, a full-stack AI-native data platform, today announced a $10 million seed round led by Costanoa, with participation from Acrew Capital and strategic angels. The funding will accelerate product development and go-to-market hiring as Definite scales adoption among enterprises.

Most companies juggle a costly mix of tools: a warehouse like Snowflake, an ETL service like Fivetran, and a business intelligence platform like Looker. Definite replaces that stack with an AI-native platform that combines a secure data lake, pipelines, and dashboards. Enterprises can connect their tools and get answers in minutes. It’s 10× faster and 10× cheaper than stitching together traditional products that demand a full data team.

“Teams shouldn’t need six months, a half-million-dollar budget, and a team of engineers to get answers about their business,” said Mike Ritchie, CEO and founder of Definite. “We built Definite to make analytics radically simpler. With open-source under the hood and AI powering every interaction, we’re giving teams inquiry without the (SQL) queries.”

Definite is SOC 2 Type II compliant and built on petabyte-scale, open-source data infrastructure, offering secure, fast, and cost-efficient analytics without vendor lock-in. Early adopters like Perfect and Meet Alfred are using Definite to simplify analytics and make smarter, faster decisions. “We went from zero to data lake in a couple hours and had a high-performance API running minutes later,” said George Papadopoulos, CEO of Meet Alfred.

“Time and time again, we see startups pour millions into a modern data stack—only to end up with something that still requires a full data engineering team to get answers,” said John Cowgill, Partner at Costanoa. “Definite is the answer to that pain: a powerful yet elegant solution that gives business users fast, flexible, and accurate insights without the bottlenecks. It’s exactly what modern teams demand—a powerful data platform that makes ad hoc analytics self-serve and fast without sacrificing trust or depth.”

Definite is hiring across engineering and GTM, with a focus on enterprise sales. We are remote-first, high‑autonomy, and on a mission to make powerful data infrastructure accessible to the operators building the future.

To learn more or start using Definite, visit www.definite.app.

About Definite
Founded in 2023, Definite is the AI-native data stack for modern teams. The platform combines a data lake, ETL (extract, transform, load), and business intelligence into a single, AI-powered solution that delivers insights in minutes. Built on open-source technologies like DuckDB and Apache Iceberg, Definite is fast, secure, and scalable.

About Costanoa
Costanoa exists to elevate founders building companies of consequence. We lead investments from formation through Series A in Applied AI, AI Infrastructure, Cybersecurity, National Security, and Fintech. With $2.3B AUM, we’re boutique by design—making fewer investments to deliver deeper expertise and operational support when it matters most: the early, defining stages of growth. For more information, please visit www.costanoa.vc.

Media contact: [email protected]

SOURCE Definite

Strong investor demand extended beyond the initial March close, reflecting confidence in Wellth’s proven results with high-risk populations

LOS ANGELES, Aug. 21, 2025 — Wellth, the only digital health solution combining daily motivation with proven behavior change strategies to deliver measurable health outcomes, today announced it has closed a $36 million Series C financing. The March 2025 funding round was oversubscribed, demonstrating investor confidence in Wellth’s differentiated model and expanding market opportunity.

The financing was led by Mercato Partners, with participation from FCA Venture Partners, Comcast Ventures, and existing investors SignalFire, NY Life, and CD-Venture. Wellth will use the funds to expand access to its app across Medicare Advantage, Medicaid, D-SNP, and other high-need populations, while accelerating product innovation and partner growth.

“This funding is a validation of our mission and model,” said Matthew Loper, CEO and co-founder of Wellth. “The healthcare system often tries to ‘engage’ patients through one-off interactions that are easily ignored and can feel more like an annoyance than a connection. For the past 11 years, Wellth has pioneered a new category in healthcare: Daily Care Motivation. By applying the science of human behavior, Wellth reaches and supports patients through every single day of their care journey. We’ve proven that these small, positive daily interactions lead to significant improvements in health outcomes and a reduction in avoidable costs. I am thrilled to partner with our new investors as we work to transform the industry from missed connections to a daily relationship that members love.”

Wellth leverages behavioral economics and financial incentives to encourage members to complete daily healthy actions—like taking medications, checking blood pressure, measuring glucose, and showing up to appropriate preventative care visits—helping build lasting habits that lead to better health outcomes and measurable ROI for partners.

“As a former Wellth customer, I saw results that surpassed anything in my decades in healthcare,” said John Snyder, COO at Wellth. “Its ability to change member behavior, improve outcomes, and cut costs convinced me this was the future of healthcare—and inspired me to join the team full time.”

This funding will enable Wellth to broaden its impact, leveraging a decade of behavioral data and health outcomes to introduce new generative AI capabilities that personalize motivation and care journeys at the individual level. As the only company delivering social media–like daily engagement with historically hard-to-reach populations, Wellth will use this unique touchpoint to drive stronger cost savings and quality outcomes for its health plan partners.

About Mercato Partners
Mercato is a growth stage venture capital firm investing in high-potential companies across undercapitalized markets in North America. Mercato partners with exceptional founders outside traditional tech hubs, providing not only capital, but also operational guidance, governance support, and access to a powerful network to help scaled businesses accelerate growth and expand their impact. For almost two decades, Mercato has found, funded, and collaborated with high-growth companies to help them achieve transformative growth and long-term value for our investors. For more information, please visit www.mercatopartners.com.

About Wellth
Wellth is a digital health company helping high-risk populations build lasting healthy habits through daily care motivation. To date, members have completed over 50 million daily check-ins, achieving an average 90% care plan adherence, a 51% reduction in inpatient admissions, and a 16% improvement in medication adherence (PDC). The app has also contributed to 4+ Star ratings across Medicare Part C and D measures and helped reduce avoidable healthcare costs. Wellth is trusted by leading health plans to engage Medicare Advantage, Medicaid, D-SNP, and other at-risk populations. Learn more at www.wellthapp.com.

SOURCE Wellth