FARNBOROUGH, England, July 23, 2026 — Pelico, the manufacturing orchestration platform powering factory operations for the world’s leading industrial companies, today announced a strategic investment from AE Ventures, the venture capital platform of AE Industrial Partners — a private investment firm focused on national security, aerospace and industrial services. The investment was announced at the Farnborough International Airshow; financial terms were not disclosed.
The investment goes well beyond capital. As the venture arm of the leading aerospace and defense investment platform, AE Ventures plugs Pelico directly into the sector’s core ecosystem — its OEMs, suppliers and operators — including AE Industrial’s portfolio companies and network of strategic limited partners, and accelerates Pelico’s expansion across North America. As manufacturers confront historic backlogs and multi-tier supply chain complexity, Pelico’s AI-powered platform gives factory teams a single operational picture to anticipate disruptions, prioritize what matters and act in hours instead of weeks. Manufacturers including Boeing, Safran and Daikin have deployed Pelico in as little as 12 weeks, reporting on average a 40% reduction in parts shortages, a 15% improvement in on-time delivery and a 40% reduction in cycle times.
Pelico’s momentum also extends into aerospace sustainment, where shop-floor execution directly affects fleet readiness: Boeing Global Services is already using Pelico to connect planning, supply and execution teams around a shared operational picture in complex maintenance and repair operations.
“Aerospace ramp-up is won or lost on the factory floor,” said Tarik Benabdallah, CEO and co-founder, Pelico. “Partnering with AE Ventures plugs Pelico into the heart of the aerospace and defense ecosystem and gives us the reach to scale across North America. From production to sustainment — including work already underway with Boeing Global Services — this is a partnership to help the industry deliver.”
“The bottleneck in aerospace today is execution — turning order books into deliveries,” said Tyler Rowe, Partner, AE Ventures. “Pelico has proven with the industry’s most demanding manufacturers that orchestration moves the needle where it counts. We’re backing the team and partnering to bring the platform across our network.”
About Pelico
Pelico is the manufacturing orchestration platform that empowers factory teams to anticipate disruptions, align priorities and execute at speed. Founded in Paris in 2019 by Tarik Benabdallah, Mamoun Alaoui and Jonathan Hickson, Pelico is deployed by global manufacturers including Boeing, Safran and Daikin. Learn more at www.pelico.ai.
About AE Industrial Partners
AE Ventures is the venture capital platform of AE Industrial Partners, a private investment firm with $9.0 billion of assets under management as of March 31, 2026, focused on highly specialized markets including national security, aerospace and industrials. AE Ventures has completed over 50 investments in early-stage companies that benefit from the deep industry knowledge, operating experience, and network of relationships across the sectors where the firm invests.
Media Contact: Ina Foalea – Chief of Staff, Pelico — [email protected] — +1 (786) 820-2649
With AI-generated email attacks up 5x in a single year and FBI-reported cybercrime losses hitting a record $20.8 billion, former Google reCAPTCHA and Safe Browsing leaders are scaling the first defense built for a world where no employee and no amount of training can spot the lure
SAN FRANCISCO, July 23, 2026 — AegisAI, the email security company building its own large language models (LLMs) to defend the inbox, today announced a $36 million Series A led by Battery Ventures, with participation from existing investors Accel and Foundation Capital, to fight the next generation of increasingly sophisticated, AI-powered email attacks, which are having devastating consequences for individuals and organizations.
Terminal Co-Founders Ryan Luo and Cy Khormaee
The round brings the company’s total funding to $49 million, less than a year after the company emerged from stealth. AegisAI will use the funding to scale its fleet of autonomous defense agents, accelerate general availability of Vanguard, its agent that hunts threats beyond the inbox, and expand enterprise go-to-market.
AI has enabled a new form of attack dubbed AI spear phishing. These attacks use LLMs to scan the internet for information about a victim and create highly targeted personalized lures designed to trick people into sharing sensitive data, downloading malware or sending money. This risk is turbocharged by the rising use of AI by individuals and workers. More widespread use of AI agents, which do work on someone’s behalf without human involvement, creates a huge new attack surface for criminals, who may be able to operate undetected for long periods of time.
AegisAI’s technology works by leveraging intelligent language models and an orchestrated network of AI agents to analyze and act on email threats in real time, essentially fighting AI attacks with AI. The company’s adaptive platform uses sophisticated reasoning to evaluate the specific intent of suspicious emails, instead of simply looking for patterns from past scams. This enables users to more quickly detect fraud, which is critical as the volume of email phishing has increased dramatically since the launch of ChatGPT.
“The most immediate, catastrophic risk to your organization isn’t an AI agent hacking your firewall. It’s an AI model manipulating someone in your organization into handing over the keys, often through the most trusted, most vulnerable contact of the person it’s targeting,” said Cy Khormaee, co-founder and CEO of AegisAI. “You cannot patch human trust. If your security program still relies on template-based phishing tests and awareness training, you are training your people to spot last year’s threat, not a capable agent crafting a novel lure just for them. When the attack is AI, the defense has to be AI.”
The future of phishing is perfection For decades, the real defense against targeted spear phishing was the effort it required. Researching a target, mapping their relationships, impersonating a trusted vendor and timing the lure all took a skilled human operator – a capability reserved for nation-states. Today, that capability costs about the price of a cup of coffee. Off-the-shelf AI can autonomously pull public information on a human target, map their professional relationships, identify their most trusting contact, then craft a flawless, context-aware lure, at unlimited scale.
The evidence of spear phishing’s rise is now unambiguous. AegisAI’s State of the AI Threat in Email study, presented at the 2026 M3AAWG conference and based on analysis of more than 20,000 phishing, scam and malware emails, found:
5x growth in one year. AI-generated spear phishing grew from 2.8% to 13.9% of all observed phishing in 2025.
75% more effective. AI-generated emails evade traditional filters at nearly double the rate of human-written attacks, reaching the inbox more than half the time.
Authentication is no defense. 72.6% of successful AI attacks passed email authentication, sent from compromised legitimate accounts with established sending histories.
The FBI’s 2025 Internet Crime Report tells the same story from the victim’s side. Reported cybercrime losses reached a record $20.8 billion last year. Phishing complaint volume stayed essentially flat – but the losses those complaints represent surged more than 200% in a single year, from roughly $70 million to more than $215 million. Precision has replaced volume. Business email compromise, payload-less attacks that exploit identity rather than software, accounted for $11.64 billion in losses, versus less than $52 million for ransomware and malware combined: a 365-to-1 ratio.
AI vs. AI The security industry spends enormous energy debating advanced autonomous agents that chain minor technical vulnerabilities into major exploits. AegisAI argues the same capability has already arrived at the human layer and it is the more immediate threat.
AegisAI was founded in 2025 by Khormaee and Ryan Luo, veterans of Google’s core security group who helped build reCAPTCHA, Safe Browsing and Web Risk, systems that protect billions of users daily. Instead of scanning for known-bad signatures, AegisAI deploys autonomous AI agents inside the inbox that interrogate the intent and identity behind every message, catching linguistically perfect attacks that pass every technical check, while cutting false positives by up to 90% compared to traditional solutions.
With Vanguard, announced in March, those agents now extend beyond the inbox. When a message is flagged, Vanguard follows suspicious links and attachments across the open web just as a user would – defeating adversarial CAPTCHAs, cloaked pages and weaponized documents – and returns a complete threat report in minutes.
“Email is where enterprise trust lives and generative AI just broke every assumption legacy email security was built on,” said Dharmesh Thakker, general partner at Battery Ventures. “When attacks are machine-generated, personalized and indistinguishable from legitimate mail, the only viable defense is an equally capable AI operating at machine speed. Cy and Ryan spent a decade building exactly these systems at Google scale. They’re the team we’d back to win this market.”
Since its public launch in September 2025, AegisAI has deployed with dozens of customers across fintech and technology, including:
Mesh, a crypto payments company, where AegisAI’s agents catch everything from fuzzing attempts to AI-generated spear phishing and business email compromise without the security team spending time managing rules.
LangChain, one of the most visible companies in AI and a prime target for sophisticated, AI-generated attacks given its public-facing engineers and executives.
Lokker, where AegisAI caught an attack that came through compromised Salesforce infrastructure. This threat had nothing to do with a bad link or attachment, just a trusted vendor’s own systems being used against them.
About AegisAI
AegisAI, the email security company building its own LLMs to defend the inbox, is headquartered in San Francisco. Founded by the team behind Google’s reCAPTCHA, Safe Browsing and Web Risk, AegisAI deploys autonomous AI agents that defend organizations against AI-crafted phishing, business email compromise (BEC) and evasive payloads that slip past traditional filters. With $49 million in capital raised to date, AegisAI is backed by Battery Ventures, Accel and Foundation Capital. Learn more at aegisai.ai.
New iOS and Android app puts working capital, payoff tracking, and paperless renewals in small business owners’ pockets.
NEW YORK, July 23, 2026 — Byzfunder, a nationwide alternative small business lender that has deployed more than $1.75 billion to over 30,000 businesses since 2019, today launched its native iOS and Android app — putting the full Byzfunder experience in the palm of every active customer’s hand. The app is built to close the oldest gap in small business capital: the distance between the moment an owner needs money and the moment they can act on it. What used to take a laptop, a portal login, or a call to a rep now happens right from the phone. From behind a restaurant counter, inside a truck cab, or on a job site, owners now can focus more on growing their business, rather than getting buried in paperwork, logins, and phone tag.
The Byzfunder app is here. Renew your capital, request funds, and manage your account from anywhere — no calls, no waiting on business hours.
The Byzfunder app gives customers full control of their existing funding and renewals across both products — MCA (merchant cash advance) and ByzFlex. Active customers can track current balances, payoff schedules, and payment history on their existing advance; accept renewal offers without resubmitting bank statements; and view next-payment information in real time. ByzFlex Flexline holders can request funds anytime directly in the app, with same-day wire transfers for requests made before 4 p.m. ET. The app is free to download and available to all active Byzfunder customers.
“Small business owners don’t run their businesses from a desk. After funding more than 30,000 of them, the next move was obvious: meet them where they already are. This isn’t a feature ship — it’s a recognition that how operators run their businesses has changed, and how they reach capital has to change with it. And the app is just the beginning.”
— Ilya Fridman, CEO & Founder, Byzfunder
Future updates will extend the app well beyond capital management. Coming features include in-app access to Money Master Class — Byzfunder’s small business education series hosted by CEO & Founder, Ilya Fridman — industry-specific tips for operators across restaurants, contractors, healthcare practices, and retail, in-app customer support, and AI-generated business insights tailored to each customer’s real-time cash flow patterns. The roadmap reflects Byzfunder’s broader strategy: to be more than a capital provider for the small businesses it serves.
The Byzfunder app is available now in the Apple App Store and Google Play Store. Existing Byzfunder customers can log in using their current portal credentials. Learn more at byzfunder.com/app.
About Byzfunder
Byzfunder is a tech-driven small business lender delivering fast, flexible capital to small businesses underserved by traditional finance. Founded in 2019 and incorporated in New York, Byzfunder provides working capital to small businesses nationwide through its core merchant cash advance product and ByzFlex, a revenue-based revolving capital solution. The company combines proprietary technology, data analytics, and a service-first philosophy to help business owners access the capital they need to grow. Since inception, Byzfunder has funded more than $1.75 billion to more than 30,000 businesses nationwide.
—Consortium led by the Broad Institute’s Center for Therapeutic Genetics to use Apertura’s novel CNS-targeted AAV capsid, TfR1 CapX™, for base and prime gene editing programs—
NEW YORK, July 23, 2026 — Apertura Gene Therapy, a biotechnology company developing next-generation AAV capsids for delivering genetic medicines, today announced participation in a consortium selected to receive funding from the Advanced Research Projects Agency for Health (ARPA-H) THRIVE program to develop gene therapies for rare childhood diseases. THRIVE is led by ARPA-H Program Manager Daria Fedyukina, Ph.D. The consortium, led by the Broad Institute of MIT and Harvard’s Center for Therapeutic Genetics, will use Apertura’s novel central nervous system-targeted AAV capsid, TfR1 CapX™, for base and prime gene editing programs.
Composed of academic researchers, clinicians, patient advocates, and biotechnology companies, the consortium will work to create a Pediatric Epilepsies and Rare CNS (PERC) Gene Editing Platform that shares manufacturing, regulatory precedent, and clinical infrastructure across diseases. The goal of the consortium is to address a gap in development efforts and develop therapies faster than is currently possible for patients with a wide range of rare central nervous system diseases.
“More than three million children worldwide are affected by developmental and epileptic encephalopathies that are caused by mutations across more than 400 different genes, making it difficult to develop therapies for these diseases with traditional approaches,” said Andrew Steinsapir, Acting Chief Technology Officer at Apertura and Gene Therapy Program Lead at Deerfield Management. “By working directly with patient advocacy organizations and sharing drug development infrastructure across programs, the consortium is taking an innovative approach to advancing treatments for a wide range of neurogenetic disorders.”
TfR1 CapX was initially engineered by Ben Deverman, Ph.D., Senior Director, Vector Engineering and an Institute Scientist at the Broad Institute, and colleagues. The capsid is administered intravenously and designed to target human transferrin receptor 1 (hTfR1), cross the blood-brain barrier, and enable broad distribution to the brain and spinal cord.
TfR1 CapX will be paired with base and prime gene editing technologies developed in the lab of David Liu, Ph.D., Richard Merkin Professor and Director of the Merkin Institute for Transformative Technologies in Healthcare, Core Institute Member, and Director of the Chemical Biology and Therapeutic Sciences Program at the Broad Institute.
Manufacturing support for the consortium will be provided by Viralgen, a leading contract development and manufacturing organization (CDMO) specializing in recombinant adeno-associated virus (rAAV) gene therapies. “Viralgen has extensive experience working with partners to manufacture AAV gene therapies, and we look forward to supporting the consortium as it advances therapies for rare CNS diseases,” said Andy Holt, Chief Commercial Officer at Viralgen.
This project deepens Apertura’s commitment to providing TfR1 CapX broadly across the industry. Apertura has signed multiple licensing agreements for TfR1 CapX programs, several of which are expected to enter clinical trials within the next 12 months.
About TfR1 CapX™
TfR1 CapX™ is a leading IV-administered, BBB-crossing capsid. Multiple for-profit and non-profit organizations have validated and licensed TfR1 CapX, and other groups are in discussions to license the technology. Clinical readiness has been supported by several preclinical development programs, including regulatory engagement and manufacturing by contract development and manufacturing organizations (CDMOs). TfR1 CapX is a proprietary, second-generation capsid that demonstrates superior CNS delivery compared to Apertura’s first-generation capsid, BI-hTFR1. Research on the first-generation BI-hTFR1 capsid was published in Science.
About Apertura Gene Therapy
Apertura Gene Therapy develops genetic medicines and next-generation AAV capsids that engage human-relevant receptors, aiming to enable more effective and selective gene delivery. The company’s lead capsid, TfR1 CapX™, leverages human transferrin receptor 1 to enable intravenous delivery to the brain and spinal cord. This established transport mechanism has a strong clinical track record in pediatric and geriatric populations, expanding its potential to treat serious neurological and genetic diseases. Apertura has licensed its next-generation capsids to multiple partners, with several programs expected to enter clinical trials over the next 12 months. Founded in 2021 on technology from the Broad Institute and supported by Deerfield Management, Apertura Gene Therapy is headquartered in New York City. Learn more at aperturagtx.com and follow us on LinkedIn.
PHILADELPHIA and LONDON, July 23, 2026 — SEMCAP Beauty & Wellness today announced a minority investment in MERIT, the US-based cosmetics brand known for its modern, minimalist approach to beauty. The investment is led by Vasiliki Petrou, Managing Partner at SEMCAP Beauty and Wellness. With more than 30 years of experience in the beauty industry, Petrou founded the Unilever Prestige division in 2014 and led the acquisition and growth of a portfolio of iconic brands including Dermalogica, Paula’s Choice, Hourglass, Tatcha and K18.
Petrou will join MERIT’s board and partner with the executive team on the ongoing growth and globalization of the brand, which remains highly profitable.
“MERIT is one of the most thoughtfully built brands in beauty, a true icon in the market. I love the timeless brand aesthetic, the simplified and edited approach to beauty, and the focus on the millennial and gen X consumer, which is a significant white space in our industry. I am thrilled to support the continued global scaling of the brand,” said Petrou.
“We are honored to have Vasiliki Petrou join the MERIT Board of Directors. MERIT has seen significant growth over the past few years, and Vasiliki’s industry-defining experience will be an invaluable asset as we continue to invest in the long-term future of the business. Her perspective on brand equity, financial performance, and operations perfectly aligns with our dedication to intentionality and excellence,” said Philippe Pinatel, CEO of MERIT
The investment in MERIT underscores SEMCAP Beauty & Wellness’ focus on partnering with innovative, category-leading brands that are poised for durable, global growth.
About MERIT
Founded in 2021, MERIT is a modern beauty brand that simplifies what it takes to get ready. Born out of an industry crowded with fleeting trends and products that demanded expert-level skills, MERIT was created as the antidote – a considered collection designed to bring ease to your everyday. With a timeless perspective on beauty and a commitment to uncompromising quality, we create beauty and lifestyle essentials that become signatures of your routine – products you’ll reach for daily and live with for years to come.
About SEMCAP Beauty & Wellness
SEMCAP Beauty & Wellness makes influential investments in high-growth, breakthrough products, services and technologies that support the modern consumer’s goals of living longer, better lives. The platform partners with exceptional beauty and wellness brands, services and technologies, backed by strategic expertise, industry relationships and operational support. SEMCAP provides access to resources and leverages industry networks, and expertise to help these businesses scale nationally and internationally. SEMCAP Beauty & Wellness is one of SEMCAP’s four platforms: AI, Health, Food & Nutrition, and Beauty & Wellness. SEMCAP is a growth equity firm committed to investing behind seminal trends in sectors that have the greatest impact on society
This release is provided for informational purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. This material may contain estimates and forward-looking statements, which may include forecasts and do not represent a guarantee of future performance. This information is not intended to be complete or exhaustive and no representations or warranties, either express or implied, are made regarding the accuracy or completeness of the information contained herein. The views expressed are as of July 23, 2026 and are subject to change without notice. Reliance upon information in this material is at the sole discretion of the reader. Investing involves significant risks.
Institute Selects 10 Projects in Latest Round of Funding
ROCHESTER, N.Y., July 23, 2026 — The REMADE Institute, a 150-member public-private partnership established in collaboration with the U.S. Department of Energy (DOE) with an initial investment of $140 million, today announced $4.86 million in new technology research, selecting 10 new research demonstration, verification and validation (DV&V) projects as part of the Institute’s latest round of funding.
REMADE’s new DV&V projects will demonstrate tools and technologies that are at Technology Readiness Level (TRL) 6 and will reach TRL 7 by the end of their project. Technology Readiness Levels (TRLs) describe the various phases of technology development, with TRLs 4-7 typically referred to as the “Valley of Death” — the critical gap between early-stage research and commercial viability where promising innovations often fail to transition from the laboratory to the marketplace.
These new DV&V projects will not only address the Valley of Death for these technologies but will also increase U.S. manufacturing competitiveness; strengthen the resilience of the domestic supply chain; decrease manufacturing energy consumption; and advance the Circular Economy by increasing the reuse, remanufacturing, recovery, and recycling of critical minerals and rare earth elements, aluminum, textiles, electronics scrap, diesel engine blocks, steel, and paper.
“By focusing REMADE’s investment on these projects, we are getting closer and closer to fully commercializing these novel technology solutions, which once fully implemented are capable of achieving significant positive energy, manufacturing, environmental, and economic impacts for us as a nation,” said REMADE Chief Executive Officer Nabil Nasr.
This latest round of investment, the Institute’s seventh, is cost-shared between REMADE and the funding recipients. Of the 10 new projects, some involve new partners for REMADE. They will join the Institute’s existing partners, including industry innovators and academic researchers with Caterpillar, John Deere, Michelin, Nike, Adidas, MIT, RIT, Honda, Volvo, Yale University and many more.
REMADE Chief Technology Officer Magdi Azer said it’s important for research institutes like REMADE to provide ongoing investment in technologies to ensure they advance through the Valley of Death, noting that REMADE had previously funded six prior Requests for Proposals (RFPs).
“This is exactly why the Manufacturing USA institutes were established in the first place more than a decade ago,” Azer said. “These new DV&V projects will, for example, explore better ways to recover total rare earth oxides from electronic scrap; utilize computer vision and AI to reduce the cost of electronics recycling; recover and recycle aerospace and automotive aluminum; repair diesel engine blocks; use secondary steel to produce new tires; improve paper recycling; expand textile recycling; and increase the circularity of new product designs.”
Since the Institute’s founding in 2017, REMADE has launched or selected 103 technology R&D and workforce development projects, representing a total combined value of $104 million. For a list of the 10 new technology projects and their project team members, see below.
More detailed information on all REMADE R&D projects can be found at www.remadeinstitute.org.
Project Title
Project Team Members
Low-Cost Textile-to-Textile “SolvoGenesis” Recycling Validation at Scale
MacroCycle Technologies
Eastman Kodak
Component-Level Validation of Structural and Improved Non-Structural Secondary Aluminum Die Cast Alloys
Audubon Metals
The Ohio State University
North American Die Cast Association
Project Advisor: Ford
Project Advisor: Phinix
Computer Vision and AI for the E-Cycling Receiving Process
Rochester Institute of Technology
Sunnking Sustainable Solutions
Tire-Test Demonstration of Tire Cord Produced from High-Copper Content Scrap Steel
Missouri University of Science and Technology
Michelin USA
Industrial Validation of Biotechnologies for Recycled Fibers to Regain Fiber Quality and Increase Secondary Feedstock in High Value-Added Paper Grades
Western Michigan University
Graphic Packaging International
Technology Demonstration, Verification and Validation of REEgen’s Biological Critical Metal Recovery Technology
Rochester Institute of Technology
REEgen
Developing Enterprise-Grade CAD Tools to Integrate Circularity in New Product Designs
Rochester Institute of Technology
Trane Technologies
Project Advisor: Caterpillar
Project Advisor: Remanufacturing Industries Council
Recycling Aerospace Aluminum Scrap into High-Performance Wrought Sheet and Near-Net-Shape Squeeze Cast Components
University of Illinois Urbana-Champaign
Loukus Technologies
High-Speed Laser Cladding Repair for Cast Iron Diesel Engine Blocks
Rochester Institute of Technology
Synergy Additive Manufacturing
Demonstration of Advanced Textile Sorting and Dismantling System
Rochester Institute of Technology
Goodwill of the Finger Lakes
About REMADE Founded in 2017, REMADE is a 150-member public-private partnership established in collaboration with and funded in part by the U.S. Department of Energy. REMADE is the only national institute focused entirely on developing innovative technologies to accelerate the U.S.’s transition to a Circular Economy. In partnership with industry, academia, trade organizations, and national laboratories, REMADE enables applied research and development that will increase the reuse, remanufacturing, recovery and recycling of critical and key materials in U.S. manufacturing. For more information about REMADE, visit www.remadeinstitute.org.
For additional information contact: Megan Connor Murphy Director, Marketing and Communications REMADE Institute 585-339-8379 cell [email protected]
Cheyenne Ventures and AVP co-lead the round, which brings Abstract’s total funding to nearly $50 million at triple its prior valuation, after a year of 380% ARR growth and 264% net revenue retention.
SAN FRANCISCO, July 23, 2026 — Abstract, the pioneer of composable security operations, today announced a $25 million round co-led by Cheyenne Ventures and AVP, with additional investment from Olive Hill Ventures and follow-on investment from Crosslink Capital and Rally Ventures. The round brings Abstract’s total funding to nearly $50 million following a year in which the company grew annual recurring revenue 380%, reached 264% net revenue retention, and tripled its customer base.
The investment reflects a broader shift in security operations as enterprises move beyond monolithic SIEM platforms toward composable architectures that provide greater control over data, AI, and cost. Abstract’s streaming-first platform enables organizations to modernize security operations without being locked into a single vendor ecosystem.
Security teams have spent a decade feeding every log into one platform and watching the bill climb as the data grew. The model leaves detection happening after everything is already in storage, locks organizations into a single vendor’s architecture, and turns visibility into a cost problem. Abstract was built to break that pattern.
AI-Gen Security Operations combines a composable architecture with streaming detection and AI woven across the SOC workflow. It separates data sources from destinations, runs detections while data is still in motion, and helps analysts work faster, investigate deeper, and trust the results. Enterprises keep control of their architecture, their costs, and their data, without trading away performance. With Abstract, an organization can:
Decouple sources from destinations, so data is not locked to one vendor’s stack
Run detections in stream, so threats surface before data reaches storage
Tier and route data on the way out, in the schema each destination expects, including OCSF, ECS, and CIM, to cut storage cost
Apply Astro AI throughout the SOC workflow
Scale across multi-cloud and hybrid environments
Over the past year, Abstract:
Grew ARR 380% year over year
Reached 264% net revenue retention
Grew the customer base 3x
Made 40 strategic hires to support enterprise expansion
“For more than two decades, SIEM has been the foundation of security operations. AI-Gen Security Operations is what’s next,” said Colby DeRodeff, CEO and co-founder of Abstract. “It gives organizations control over their data, runs detections while data is still in motion, and embeds AI into every stage of detection, triage, investigation, and response. We built Abstract around that vision from day one because AI isn’t a feature bolted onto the SOC. It’s woven into every layer of security operations. This investment gives us the resources to continue building a generational cybersecurity company.”
The funding will go toward widening in-stream detection coverage, extending Astro AI across the SOC workflow, and growing the go-to-market team to keep pace with enterprise demand.
“Every major platform transition creates a new systems architecture, and security operations is entering one of those moments. Enterprises no longer want to be forced into a single data platform just to detect threats. Abstract has built the architecture for that next generation. Streaming-first. AI-native. Composable. When we combined that vision with the team’s execution and customer traction, increasing our investment was an easy decision,” said J.R. Becko, Partner, Cheyenne Ventures.
“We back founders with the depth and conviction to build something category-defining, and Abstract has both,” said Manish Agarwal, General Partner, AVP. “Security teams are putting AI at the center of how they operate, and AI is only as good as the data underneath it. The teams that come out ahead will be the ones that own their data, route it on their terms, and detect in real time rather than after the fact. Abstract is building the platform to get them there.”
About Abstract
Abstract is the pioneer of composable security operations, a streaming-first platform that simplifies data strategy and speeds detection, investigation, and response. The platform runs detections in stream, routes data to the destinations and schemas teams already use, and brings AI to security operations through Astro AI. Abstract is on the AWS, Microsoft Azure, and Google Cloud marketplaces. Abstract was founded in 2023 by veterans of ArcSight, Bank of America, Mandiant, and Palo Alto Networks. Learn more at https://www.abstract.security/
About Cheyenne Ventures Cheyenne Ventures is a specialized venture capital firm providing flexible equity financing to expansion-stage technology companies. The firm leads and syndicates investments alongside top-tier investors, enabling existing backers to increase ownership in their highest-conviction companies. Leveraging deep relationships across the venture ecosystem, Cheyenne focuses on high-growth businesses in AI, cybersecurity, and cloud infrastructure while remaining opportunistic across enterprise technology. Cheyenne’s differentiated strategy and decades of operating experience allow it to provide founders with strategic capital, hands-on guidance, and go-to-market expertise.
About AVP AVP is an independent global investment platform focused on high-growth technology companies, ranging from deep tech to tech-enabled, across Europe and North America. The firm manages more than €2.5 billion in assets. Its multi-stage platform combines global research with local execution to drive investment. Since its establishment in 2016, AVP has invested in more than 70 technology companies. Through its dedicated expansion team, AVP works closely with founders, offering the expertise, connections and resources needed to unlock growth opportunities, and create lasting value through meaningful collaborations.
NEW YORK and SAN FRANCISCO, July 23, 2026 — Coalesce Capital (“Coalesce”), a private equity firm focused on investing in next-generation technology-enabled services companies, today announced a strategic growth investment in Workstreet, (“the Company”) a leading provider of AI-native compliance and cybersecurity solutions to companies in regulated industries.
The Company’s founders and management team are investing alongside Coalesce Capital as part of the transaction to continue to drive the business through its next phase of hypergrowth. This partnership reflects Coalesce’s commitment to supporting founder-led, high-growth technology-enabled services companies as they continue to scale category-defining businesses.
Workstreet provides market-leading, AI-native cybersecurity and compliance services to high-growth enterprise customers across regulated industries globally. The Company combines its unique blend of deeply experienced cybersecurity and compliance experts with its AI-powered capabilities to deliver a full suite of cybersecurity services. These include governance, risk, and compliance (GRC) services across more than 35 compliance frameworks such as SOC, ISO, FedRAMP and CMMC, security services (including vCISO, penetration testing, and vulnerability management), and privacy services. Coalesce will support Workstreet’s continued growth through investments in talent, technology, and go-to-market expansion, helping the Company extend its position as a trusted compliance partner to fast-growing global enterprises.
“We built Workstreet to take the burden of security and compliance off the plates of fast-growing companies so they can focus on their core business,” said Romeen Sheth, Co-Founder and CEO of Workstreet. “Coalesce has a deep understanding of the cybersecurity and GRC market and what makes technology-enabled businesses successful. They share our conviction that the combination of expert people and modern AI-based technology is what sets us apart. This partnership gives us the capital and expertise to invest in our team and customers while we continue to build the company we founded. We are excited to grow alongside a partner who believes in our vision and backs the team executing it.”
“The cybersecurity landscape is constantly evolving. Keeping pace with expanding compliance frameworks and security and privacy requirements demands significant internal resources that most growing companies would rather devote to their core business,” said Stephanie Geveda, Founder & Managing Partner at Coalesce Capital. “Workstreet has built a differentiated model that pairs deep domain expertise with AI to make compliance a driver of growth, rather than a cost of doing business.”
“Our thesis centers on next-generation, technology-enabled services businesses that solve mission-critical problems for their customers through a differentiated business model,” added Austin Heiman, Managing Director at Coalesce Capital. “Workstreet sits at the intersection of accelerating demand for security and compliance and the emergence of AI as a force multiplier for expert services. We look forward to collaborating with Romeen and the rest of the management team to support Workstreet’s growth across new frameworks and market opportunities.”
AGC Partners and Nelson Mullins Riley & Scarborough served as financial and legal advisors to Workstreet. Latham & Watkins served as legal advisor to Coalesce Capital. Financial terms of the transaction were not disclosed.
About Workstreet
Workstreet is an AI-native security and compliance firm that helps companies build security and compliance programs that scale. Workstreet’s solutions include full cybersecurity support across compliance, security, and privacy. Today Workstreet partners with more than 1,000 customers to turn security and compliance into a driver of growth. For more information, please visit www.workstreet.com.
About Coalesce Capital
Coalesce Capital is a private equity firm that partners with entrepreneurs and management teams to build enduring value around differentiated businesses. Coalesce has over $1.8 billion of regulatory assets under management and is dedicated to investing in human capital-driven and technology-enabled services companies. The firm’s growth-oriented investment philosophy centers around its conviction that people are the most important ingredient of value creation. Coalesce leverages its sector expertise, strategic resources, and capital to collaborate with management teams to create shared success. For more information, please visit www.coalescecap.com. Follow Coalesce on LinkedIn: @Coalesce.
Media Contact
Ed Trissel / Kate Thompson / Kate Kelley Joele Frank, Wilkinson Brimmer Katcher 212-355-4449 [email protected]
LOS ANGELES, July 23, 2026 — LLCP, a Los Angeles-based private equity firm, today announced the final closing of LLCP Lower Middle Market IV (“LMM IV”) with $2.0 billion of total capital commitments. LMM IV was significantly oversubscribed, surpassing its $1.7 billion target and closing at its hard cap.
LLCP began marketing LMM IV in December 2025. The Fund received strong support from its existing investor base, as well as a new group of diverse blue-chip institutional investors globally. The Fund’s investors include prominent sovereign wealth funds, public pension plans, endowments, foundations, insurance companies, investment consultants, and family offices.
LMM IV builds on the success of LLCP’s oversubscribed Flagship Fund VII, which closed in June 2025 with $3.6 billion of total commitments. The successful fundraise underscores the continued momentum of LLCP’s platform and confidence in the Firm’s strategy and investment team. Over the past 24 months, LLCP has raised $6.4 billion of capital across its global platform.
LMM IV will utilize LLCP’s Structured Private Equity approach to invest in market-leading, lower middle market businesses by combining debt and equity capital to deliver flexible, tailored solutions for entrepreneurs and management teams. LLCP focuses on sectors including Business Services, Franchising & Multi-Unit, Education & Training, and Engineered Products & Manufacturing.
Michael Weinberg, Co-Managing Partner of LLCP, said, “We are deeply grateful for our limited partners’ exceptional response to LMM IV, which exceeded our expectations, particularly in today’s challenging fundraising environment. We believe this outcome reflects the strength of our differentiated Structured Private Equity strategy, which has delivered consistent investment returns over our 42-year history through varying economic and market environments.”
Matthew Frankel, Co-Managing Partner of LLCP, added, “The early support of LMM IV from our existing investors helped drive significant demand from new, high-quality limited partners, which together led to this successful outcome. We will continue to expand our platform, develop our team and partner with talented management teams to deliver robust performance. This is an exciting time for LLCP, and we appreciate the continued confidence of our partners.”
LMM IV’s predecessor, LMM III, closed in 2021 with $1.4 billion of total commitments. Lazard served as lead placement agent and Kirkland & Ellis served as fund counsel for LMM IV.
About LLCP
LLCP is a middle-market private equity firm with a 42-year track record of investing across various targeted sectors, including Business Services, Franchising & Multi-Unit, Education & Training and Engineered Products & Manufacturing. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. LLCP believes that by investing in a combination of debt and equity securities, it offers management teams growth capital in a highly tailored, flexible investment structure that can be a more attractive alternative than traditional private equity.
LLCP’s global team of dedicated investment professionals is led by 9 partners who have worked at LLCP for an average of 20 years. Since inception, LLCP and its affiliates have managed approximately $20.6 billion of capital across nearly 20 investment funds and have invested in approximately 120 portfolio companies. LLCP and its affiliates currently manage $15.0 billion of assets and have offices in Los Angeles, New York, Chicago, Miami, London, Stockholm, Amsterdam and Frankfurt.
Contact: Mark Semer / Alex Jeffrey Gasthalter & Co. (212) 257-4170 [email protected]
