Led by Elephant, with a significant new investment from Koch Disruptive Technologies, the round will support AI security, platform development, and continued international growth

ORLANDO, Fla., July 29, 2026 — ThreatLocker, a global leader in Zero Trust cybersecurity, today announced that it has secured $190 million in Series F funding led by Elephant, with continued support from D. E. Shaw Ventures and Arthur Ventures, and a significant new investment from Koch Disruptive Technologies. As Zero Trust adoption accelerates, ThreatLocker continues to experience rapid growth by making its platform straightforward to deploy, manage, and scale. The capital will support continued development of the company’s existing controls for AI-related security risks, further improvements to its Zero Trust Platform, and international expansion, beginning with the opening of a Reading, U.K. office.

“Most cybersecurity tools are still built around identifying malicious activity after it has already entered an environment, when the damage may already be done,” said Danny Jenkins, CEO and co-founder of ThreatLocker. “We believe the better model is to define what is allowed and deny everything else by default. We are living in a world where new agents are constantly being introduced and granted access to sensitive resources, which makes our mission more urgent. Our investors share our vision for changing the cybersecurity paradigm, and their partnership will help us strengthen our platform and protect more organizations around the world.”

The funding comes as organizations face an evolving threat landscape shaped by the need to secure AI agents and defend against AI-accelerated software exploits. ThreatLocker has continued to expand its platform to help secure organizations from both traditional and AI-driven activity. ThreatLocker Allowlisting prevents unauthorized AI tools and AI-generated code from executing, while Ringfencing™ controls what approved applications and AI agents can access, modify, and interact with. Additional controls help organizations govern the use of AI websites and protect sensitive information from unauthorized exposure. These innovations build on the recent introduction of ThreatLocker Zero Trust Network Access and Zero Trust Cloud Access, extending the company’s comprehensive Zero Trust Platform across endpoints, networks, and cloud resources from a single dashboard.

“Since our initial investment, ThreatLocker has demonstrated strong execution, established itself as a product leader, and consistently anticipated where the cybersecurity market is headed,” said Jeremiah Daly, partner at Elephant. “As more organizations seek prevention-based security and practical approaches to Zero Trust, ThreatLocker is uniquely positioned to capture that demand. Our continued investment reflects our confidence in both the team and the significant opportunity ahead.”

Rapid growth at ThreatLocker has been driven by its ability to make Zero Trust security practical to deploy and manage across complex environments. While Zero Trust has historically been viewed as difficult to implement, the ThreatLocker Zero Trust Platform delivers robust protection and is straightforward to deploy, manage, and scale. This approach has enabled more than 70,000 organizations worldwide to strengthen security without creating added operational burden.

To support growing global demand, ThreatLocker has significantly expanded its international presence over the past 18 months, adding offices in Brisbane and Dubai alongside its established operations in Orlando and Dublin. The opening of a U.K. office will further strengthen the company’s ability to serve customers across the United Kingdom and Europe.

Reflecting this momentum, ThreatLocker has ranked among the fastest-growing private companies in America on the Inc. 5000 for two consecutive years. With this latest investment, the company is positioned to accelerate product innovation, expand its global footprint, and advance its mission of transforming cybersecurity from an “allow-by-default” model to a “deny-by-default” model. This approach gives organizations control over the software, users, and devices operating within their environments.

As part of the investment, Koch Disruptive Technologies will leverage its partner community, industry knowledge, and Koch Labs® capabilities to partner with the ThreatLocker team as the company continues to grow. “At a time when organizations are facing new and complex cybersecurity challenges, the differentiated ThreatLocker Zero Trust Platform is delivering real value to its customers,” said Emerson James, Director at Koch Disruptive Technologies. “We are impressed with the team’s commitment to their vision and look forward to supporting them as they continue to innovate and scale globally.”

BofA Securities served as exclusive placement agent to ThreatLocker.

Latham & Watkins LLP served as legal counsel to ThreatLocker.

About ThreatLocker:

ThreatLocker is a global cybersecurity leader that stops cyberattacks before they happen. The company’s Zero Trust Platform prevents breaches from both known and unknown threats by allowing only explicitly trusted software and activity across endpoints, networks, and cloud systems. Built to deploy quickly and scale across complex environments, the platform reduces operational overhead while keeping business running uninterrupted. Headquartered in Orlando, Florida, with offices in Dublin, Dubai, and Brisbane, ThreatLocker protects over 70,000 organizations worldwide. 

About Elephant:

Elephant is a venture capital firm focused on high-growth software, internet, and technology companies. Elephant partners with visionary entrepreneurs to help them scale and build market-leading solutions.

About Koch Disruptive Technologies:

Koch Disruptive Technologies is a venture capital firm partnering with principled entrepreneurs who are building high-growth companies that have the potential to transform industries. KDT has a flexible mandate to make investments at any stage of a company’s life cycle, from seed to late-stage growth. KDT is a Koch company, one of the largest privately held companies in the world, with annual revenues that have exceeded $125 billion and operations in more than 50 countries. KDT helps its partners unlock their full potential by bringing Koch’s capabilities and network to them, structuring unique capital solutions, and embracing a long-term mutual benefit mindset.

Contact: [email protected]; 1 321-515-3813

SOURCE ThreatLocker, Inc.

SEC-registered broker-dealer running the Aurora Alternative Trading System for securities finance now backed by two of the largest institutions at the center of U.S. markets, Charles Schwab and DTCC.

Key points

• Provable Markets is modernizing securities finance infrastructure through end to end pre-trade, execution, and post-trade solutions for securities finance.
• Series B funding round led by Charles Schwab, with participation by DTCC, existing investors Dialectic Capital Management, Inkef and others.
• The round supports team growth across all facets, further core market infrastructure connectivity, product and geographical expansion.

NEW YORK, July 29, 2026 — Provable Markets, operator of the securities finance platform Aurora, today announced the completion of its Series B investment round led by Charles Schwab (NYSE: SCHW), with The Depository Trust & Clearing Corporation (DTCC) joining as a new investor, and participation from existing investors Dialectic Capital Management, Inkef and others. 

The investment comes at a pivotal time in the Provable Markets growth story. The platform has posted new records for four consecutive quarters on its ATS processing over $30 trillion in monthly order volume.

“At Schwab, we value supporting innovative firms and technology that strengthen the financial services ecosystem and enable Schwab to meet the needs of our clients,” said Howie Kennedy, Managing Director, Securities Lending, Charles Schwab Corporation. “Provable Markets supports that objective by helping modernize securities finance workflows through automation, connectivity, and scalable solutions, improving capital market efficiency and execution quality.”

Provable Markets facilitates end- to- end securities finance workflows through a fully cloud-native offering that boasts deep connectivity into the heart of the US capital markets infrastructure with connectivity to DTCC’s clearing agency subsidiaries, National Securities Clearing Corporation (NSCC) and The Depository Trust Company (DTC), the OCC, and Tri-party Agents. The platform leverages a novel matching engine within its SEC-registered Alternative Trading System (ATS) that provides clients with increased trade automation on a neutral playing field. With a seamless hand off to its Aurora post-trade solution, Provable eliminates historical bottlenecks that cannot be fixed through front-end workflow solutions alone in this highly complex ecosystem. Coupled with access to NSCC’s SFT Clearing Service, clients can simultaneously realize significant capital relief under Basel regulatory frameworks to generate further ROI for their businesses and expand their trading opportunities.

— Brian Steele, Managing Director, President, Clearing & Securities Services at DTCC, stated, “As demand for securities financing transactions continues to grow, market participants are increasingly seeking solutions that improve capital efficiency while reducing operational complexity. Provable Markets’ integration with DTCC’s SFT Clearing Service helps participants streamline post-trade processing and unlock the balance sheet benefits of central clearing. By supporting and connecting to innovative platforms like Provable, we are helping create a more efficient and scalable securities finance ecosystem that can support continued growth across the market.”

The Series B round will help Provable grow its commercial, product and engineering headcount to support the rapid growth of its client base and related services, while maintaining its level of market leading client service and scalable technology design and architecture. The funds will also drive additional product and geographical expansion.

“We started Provable Markets with the belief that modernizing securities finance is a market structure story that requires a foundational pipes and plumbing approach to rebuild core infrastructure from the bottom up. By maintaining that focus, we have been able to solve real problems for our clients that not only drive scaled automation, but also alleviate the increasingly acute pressures of operational and regulatory capital constraints. Charles Schwab and DTCC’s investment validate and fuels our next stage of growth to execute on our vision of becoming core market infrastructure for the rapidly expanding securities finance landscape and beyond.”— Matt Cohen, Co-Founder & CEO, Provable Markets

ABOUT PROVABLE MARKETS

Provable Markets is driving market structure change, offering front-to-back trade, lifecycle management, and post-trade solutions for cleared and uncleared SFTs — delivering execution optimization, operational efficiency, cost reduction, and risk mitigation across the value chain. Provable Markets is a FINRA member broker-dealer and SIPC member, and market operator of Aurora, a cloud-native alternative trading system (ATS) regulated by the US Securities and Exchange Commission. For more information, visit provablemarkets.com or contact [email protected]. 

SOURCE Provable Markets LLC

Series A funding led by Battery Ventures accelerates the Y Combinator alum’s expansion, strengthening its position as the data infrastructure layer for commercial transportation

TORONTO, July 29, 2026 — Terminal, a provider of unified telematics integration technology transforming operations across insurance, fleet management and logistics companies, today announced it closed $20 million in Series A financing led by Battery Ventures, with participation from new strategic investors Intact Private Capital and Penske, and return investors Y Combinator and Wayfinder Ventures. The round brings the company’s total funding to $26 million since its founding. Terminal will use the capital to expand its enterprise footprint across its core markets, building on momentum with major industry partners.

Terminal acts as an integrator of critical data generated by commercial vehicles, including location, speed, fuel consumption and maintenance information. These and other data are growing in strategic importance across insurance, fleet management and logistics, and are used by companies to improve safety, meet new regulations and underwrite tens of billions of dollars in annual vehicular risk. Sitting at the intersection of transportation and telematics data infrastructure, Terminal has become the integration layer of choice for Fortune 500 enterprises and major insurers.

“Telematics data is three times more predictive of future risk than any other underwriting variable, yet fragmentation has kept that value out of reach for fleet managers and insurance companies until now,” said Marcus Ryu, a Battery Ventures general partner and the former CEO of Guidewire Software, who is joining Terminal’s board. “It is a rare and compelling signal of product strength and team execution that major insurers and fleet operators are adopting and investing in Terminal at this early stage of its journey.”

Terminal Solves Telematics Fragmentation at Scale

Every vehicle generates a steady stream of telematics data captured by devices such as electronic logging devices (ELDs), dashboard cameras, OBD-II readers and GPS trackers. That data comes from hundreds of different telematics service providers (TSPs), each one formatting and transmitting it differently. Fleet service providers and insurers that depend on this data have had to build and maintain the infrastructure to connect to every telematics provider one by one, then store it, secure it, ensure its compliance and normalize the data before any of it is usable. That work is slow and expensive, and prevents the data from reaching the companies that depend on it, even as demand for telematics-enabled services continues to grow. Auto insurers are moving toward real-time, behavior-based pricing that leverages telematics, and software companies are building tools to help fleet managers rein in fuel, safety and maintenance costs.

“Telematics data is one of the transportation industry’s most valuable assets, but it has lived across hundreds of distinct providers, which has made it hard to access and use at scale,” said Raghav Midha, CEO and co-founder of Terminal. “Terminal exists to accelerate innovation across this industry. We are the neutral infrastructure layer that connects those providers and normalizes their data into a single, consistent format, so insurance, fleet management, logistics, and financial services companies can each bring valuable products to market faster. This funding lets us deepen our provider partnerships and meet growing demand across each of these segments.”

Terminal puts all of this behind a single data platform. One connection reaches more than 325 telematics service providers, and Terminal then validates the incoming data with AI-powered data quality checks, manages consent and authorization, and normalizes hundreds of different formats into one consistent shape, covering GPS location, safety events, fault codes, vehicle statistics and more. That clean foundation is what customers build on. Insurance companies sharpen underwriting and pricing, fleet management companies improve driver safety and maintenance, logistics companies gain visibility into their operations, and financial services firms strengthen underwriting and fraud prevention for products like fuel cards and equipment leasing.

Early Adoption Validates Terminal as the New Standard

In just three years since its founding, Terminal has secured multi-year deals with major insurers, which use the telematics solution to provide up to 20% savings on insurance premiums for safe driving behavior. It is also being adopted by Fortune 500 fleet management, logistics and financial services companies that build on the same data to improve maintenance, operations and risk decisions.

“Intact Private Capital is excited to continue supporting Terminal and we’re confident they’re on their way to becoming a leading data infrastructure provider for the physical world,” said Justin Smith-Lorenzetti, managing director, Intact Private Capital. “Since partnering with Terminal, we’ve witnessed firsthand the improvements they’ve brought to commercial telematics sophistication, helping solve complex and fragmented data challenges for the world’s largest insurance companies. Terminal has assembled an incredible team and we’re looking forward to seeing them tackle the telematics opportunity ahead.”

Terminal participated in the Y Combinator Summer 2023 cohort. The company was founded by Midha and Chief Technology Officer Connor Giles, who led product and engineering at a fintech company focused on integrating middleware APIs, such as Plaid and Stripe. The co-founders also have experience in fleet operations, with Giles building software for his family-owned logistics company and Midha gaining exposure to fleet operations through his family’s HVAC business.

About Terminal

Terminal is the telematics data infrastructure layer for the commercial fleet industry. Commercial auto insurers, software companies and financial services providers use Terminal’s unified API to access GPS data, safety events, fault codes and dash camera media from more than 325 telematics service providers. Headquartered in Toronto and founded in 2023, Terminal enables its customers to access normalized, real‑time and historical telematics data without building and maintaining hundreds of one‑off integrations. Terminal is backed by leading investors, including Battery Ventures, Y Combinator, Golden Ventures, Intact Private Capital, Penske, McVestCo (Trimac Transportation), Wayfinder Ventures, and Northside Ventures. Learn more at www.withterminal.com.

Media Contact
Eran Ben Ari
Chief Operating Officer
[email protected] 

SOURCE Terminal

Fund focused on structured minority investment opportunities

CHICAGO, July 29, 2026 — GTCR, a leading private equity firm, today announced the final close of its inaugural Capital Solutions Fund (the “Fund“) and affiliated vehicles, with approximately $1.25 billion in aggregate commitments. Limited Partners commitments almost exclusively came from existing, long-term Limited Partners in other GTCR Funds. Limited Partners in the fund include public and corporate pension plans, endowments and foundations, sovereign wealth funds, and financial institutions. The Fund has already made several investments.

Through the fund, GTCR seeks to provide constructive capital to support management teams, combining its growth-oriented approach, deep industry expertise and focus on transformation to serve as a partner in building better businesses. The Fund will invest in minority structured equity and debt opportunities, primarily in the middle market, often providing funding for M&A and other forms of growth and value enhancement. The Fund will target companies within GTCR’s core industry domains, prioritizing businesses characterized by recurring revenues, strong free cash flow generation and defensible franchise value.

Consistent with GTCR’s overall investment approach, the Fund will focus on the quality of management teams and partnering with exceptional leaders to drive value creation. Most investments are expected to be privately negotiated, though the Fund is also able to invest in traded equity and credit where appropriate. The Fund may also co-invest alongside GTCR’s Flagship Funds in select larger structured opportunities.

The Capital Solutions team works closely and collaboratively with GTCR’s industry investment teams as well as with the firm’s Capital Markets team, led by Managing Director Jim Bonetti. This integrated approach combines the structured investing experience of the Capital Solutions team with GTCR’s deep industry knowledge, sourcing capabilities and value creation resources to identify and underwrite differentiated investment opportunities. Senior professionals on the Capital Solutions team include Managing Director Jason Prager and Principal Alisha Chaudhary. Prior to joining GTCR in 2024, Jason was a senior investment professional at Silver Point Capital where he spent over 13 years focused on public and private market credit opportunities and special situation investments. Prior to joining GTCR in 2025, Alisha was an investment professional at Goldman Sachs Asset Management in the Hybrid Capital group. 

On behalf of the firm, Dean Mihas and Collin Roche, Co-CEOs of GTCR, commented:

“The close of our first Capital Solutions Fund represents an important extension of GTCR’s strategy, allowing us to pursue a broader set of non-control opportunities where we can partner with excellent management teams in high-quality companies in our core industry domains. This strategy is highly complementary to our Flagship and Strategic Growth Funds and enables us to invest in minority structured opportunities across the middle market, offering creative, tailored solutions to management teams and company owners that desire minority capital to support growth and M&A.”

“We are grateful for the strong support from our limited partners, the vast majority of whom are longstanding GTCR investors,” said Jodi Rubenstein, Managing Director and Head of Investor Relations. “We believe this Fund is well-positioned to address a growing need in the market for structured minority capital solutions with attractive risk-adjusted return profiles. Through the Fund, we aim to deliver attractive, consistent returns for our investors.”

Kirkland & Ellis served as legal advisor to GTCR.

About GTCR

Founded in 1980, GTCR is a leading private equity firm that invests behind 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 $35 billion in over 300 companies, and the firm currently manages approximately $45 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.

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

SOURCE GTCR

LONDON, July 29, 2026 — Vertice, the AI procurement platform built for the modern enterprise, today announced that it has been named a Leader in the IDC MarketScape: Worldwide AI-Enabled Spend Orchestration 2026 Vendor Assessment (doc #US54663526, July 2026).

The IDC MarketScape assessed 10 providers in the worldwide AI-enabled spend orchestration market, evaluating each vendor’s current capabilities and the alignment of its strategy with what customers will require over the next three to five years. The report noted, “As the market has matured, distinct positioning strategies have emerged: some providers are competing on breadth and full life-cycle coverage, certain providers are differentiating on data intelligence (proprietary pricing benchmarks, spend analytics, and SaaS optimization), other providers are competing on platform architecture (native iPaaS, agentic customizability, and no-code workflow building), and still others are targeting specific market segments (SAP-centric organizations, midmarket companies that need managed services alongside software, and finance-led organizations looking for procurement capabilities embedded in a broader financial operations platform).” According to the report, “Providers that do not develop a defensible data strategy risk commoditization of their workflow capabilities.”

Vertice was named to the Leaders Category, with the report stating: “Vertice’s primary differentiator is the integration of proprietary SaaS pricing benchmark data directly into the procurement workflow that enables real-time purchasing guidance grounded in actual market pricing rather than estimated benchmarks or vendor-provided list prices. This intelligence layer is derived from Vertice’s direct involvement in thousands of procurement negotiations and distinguishes the platform from workflow-only competitors.”

The report also highlighted Vertice’s commercial model and scale, noting: “Vertice’s model of pairing the company’s intake-to-procure platform with managed indirect spend purchasing services that include a savings guarantee addresses the gap between workflow automation and procurement outcomes, appealing to buyers that are accountable for cost reduction results rather than just process efficiency.” The report also noted, “With over 1,000 clients, Vertice has a substantial reference base and demonstrated enterprise deployment track record at scale.”

Vertice believes the market is converging on a conclusion its platform was built around: workflow automation alone does not deliver procurement outcomes. In response, Vertice pairs AI-driven intake-to-procure orchestration with the world’s largest dataset of proprietary pricing benchmarks and vendor intelligence, plus negotiation expertise. This combination leads to 50%+ reductions in procurement cycle times, 70%+ reductions in manual steps, plus typical savings of 20%+ on indirect spend – backed by contractual guarantees.

“In a market where every provider claims AI leadership, the durable question is what that AI is grounded in,” said Patrick Reymann, Research Director, Procurement and Enterprise Applications at IDC. “Vertice’s pricing intelligence is derived from direct participation in thousands of real negotiations – a data asset that is difficult for others to replicate. Paired with a guaranteed savings commitment, Vertice’s proposition speaks directly and powerfully to buyers who are accountable for cost reduction, not just process efficiency.”

“Being named a Leader in this IDC MarketScape reflects the extraordinary momentum behind Vertice,” said Eldar Tuvey, CEO and co-founder of Vertice. ” With our acquisition of Vendr earlier this year, we now hold the world’s largest procurement intelligence dataset: 250,000+ negotiations across 32,000 vendors and $75bn+ of indirect spend. This data helps our teams deliver better outcomes and hard cost savings, and it’s the real-world procurement training behind the AI agents our 1,000+ customers use every day.”

The IDC MarketScape recognition continues a strong year of analyst and customer momentum for Vertice. In March, Vertice was named the leader in both Customer Impact and Market Velocity in Lionfish Tech Advisors’ Report on intake-to-procure platforms. Vertice was also recognised by Forrester in The Supplier Value Management Platforms Landscape, Q1 2026, and named the No. 1 provider in the Procurement Orchestration category of G2’s Summer 2026 Grid Report, based on the quality and volume of verified customer reviews.

An excerpt of the IDC MarketScape: Worldwide AI-Enabled Spend Orchestration 2026 Vendor Assessment, featuring the full evaluation of Vertice, is available here: https://www.vertice.one/l/idc-marketscape-worldwide-ai-enabled-spend-orchestration-2026

About IDC MarketScape

IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and service suppliers in a given market. The research utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each supplier’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of technology suppliers can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective suppliers.

About Vertice

Vertice is the intelligent procurement platform built for the modern enterprise. By uniting agentic workflows, AI-powered insights, and expert buying talent, we enable finance and procurement teams in 100+ countries to operate with greater precision, speed, and impact.

Customers including ARM, Brex, Duolingo, Twilio and Santander use Vertice’s platform to review, analyze and negotiate purchases with greater confidence. Vertice processes over $75 billion in spend, with a proven track record of delivering 20%+ savings and accelerating procurement cycles by 2x.

Headquartered in London and recognised by the Financial Times as the UK’s fastest-growing scale-up, Vertice also operates in New York, Boston, Sydney, Brno, Linz and Johannesburg. Learn more at www.vertice.one.

SOURCE Vertice

PORTLAND, Ore., July 29, 2026 — Trace Biosciences, Inc., a clinical-stage biotechnology company developing nerve-targeted imaging agents, today announced it has received a strategic investment from Axogen, Inc. (NASDAQ: AXGN), the global leader in surgical solutions for restoration of peripheral nerve function, as its technology continues to advance through clinical development. The investment is part of Trace’s Series A financing round with additional investors expected to join.

Nerve Trace is a near-infrared fluorescence imaging technology designed to provide direct, real-time visualization of nerves during surgery, including nerves that are otherwise obscured from view by surrounding tissue. The technology enables two clinically significant applications. First, by rendering nerves visible in real time, it allows surgeons to identify and avoid nerves that would otherwise be obscured from view during a broad range of surgical procedures. Second, in cases where a nerve has already been injured, it allows surgeons to localize and assess the nerve with greater precision, supporting more effective surgical repair. Trace’s lead candidate, Nerve Trace Dx, received FDA clearance of its Investigational New Drug (IND) application in December 2025 and has began its Phase I clinical trial evaluating Nerve Trace’s safety and feasibility in surgical patients. Proceeds from the investment will support Trace’s Phase II and III clinical trials toward a New Drug Application (NDA).

“We’re pleased to welcome Axogen, a company that shares our commitment to protecting nerve function, as a strategic partner in this next phase of our growth. This investment strengthens our ability to advance Nerve Trace through the clinical work ahead, giving surgeons visibility into nerves they’ve not been able to see before,” said Connor Barth, Ph.D., Co-Founder and CEO of Trace Biosciences.

“Improving nerve care starts with being able to see the nerve. You can’t treat what you can’t see,” said Michael Dale, President and CEO of Axogen, Inc. “This investment in Trace’s technology is directly aligned with our mission of making restoration of peripheral nerve function an expected standard of care. Giving surgeons the ability to see nerves in real time, whether to protect them or to treat them, is foundational to that mission.”

About Trace Biosciences

Trace Biosciences is a clinical-stage biotechnology company pioneering nerve-targeted imaging technologies for surgery. Founded by leaders in imaging, chemistry, and translational medicine, Trace is developing a new class of small-molecule imaging agents designed to make nerves visible and measurable in clinical settings. The company’s mission is to make safe, precise surgery a reality by making nerves visible in every operating room.

For more information, visit www.trace-bio.com 

About Axogen, Inc

Axogen (AXGN) is the leading company focused specifically on the science, development and commercialization of technologies for peripheral nerve regeneration and repair. Axogen employees are passionate about providing the opportunity to restore nerve function and quality of life for patients with peripheral nerve injuries by providing innovative, clinically proven and economically effective repair solutions for surgeons and healthcare providers. Peripheral nerves provide the pathways for both motor and sensory signals throughout the body. Every day people suffer traumatic injuries or undergo surgical procedures that impact the function of their peripheral nerves. Physical damage to a peripheral nerve or the inability to properly reconnect peripheral nerves can result in the loss of muscle or organ function, the loss of sensory feeling, or the initiation of pain. Axogen’s product portfolio includes Avance® (acellular nerve allograft-arwx), Avance® Nerve Graft, Axoguard Nerve Connector®, Axoguard Nerve Protector®, Axoguard HA+ Nerve Protector™, Axoguard Nerve Cap®, and Avive+ Soft Tissue Matrix™.

For more information, visit www.axogeninc.com 

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the terms and expected timing of the financing, the use of proceeds, the progress of clinical trials, and the anticipated benefits of the collaboration between Trace Biosciences and Axogen. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Trace Biosciences undertakes no obligation to update these statements except as required by law.

Media Contact: [email protected] 

SOURCE Trace Biosciences

New platform makes the entire fund administration process visible, auditable, and collaborative – for both sides of the relationship – in real time

STAMFORD, Conn., July 29, 2026 — 4Pines Fund Services today announced the release of the next generation of C2P, a major evolution of its proprietary platform that introduces a fully connected, shared operating environment for fund administration. For the first time, every piece of work, from initial email request through final deliverable, moves through a single system that is visible to both the administrator and the client simultaneously.

The announcement marks a meaningful shift in how 4Pines defines fund administration. Rather than a service performed behind the scenes and reported on after the fact, C2P positions the administrator-client relationship as a shared operating model, one where both teams work in the same environment, with the same view of every task, every status, and every outstanding item in real time.

“C2P has been part of our platform for some time, but what we are announcing today is a major evolution,” said Mike Trinkaus, CEO, 4Pines Fund Services. “For the first time, the entire fund administration process, from email to final report, is happening inside one fully connected, visible, and auditable system. And rather than imposing rigidity as the price of that structure, this generation meets each firm where it is and adapts as it scales. That changes how work gets done, how clients experience it, and how firms grow.”

Fund administration has historically relied on a combination of accounting platforms, spreadsheets, and email-driven workflows that vary by firm. The results have been serviceable, but the process itself has remained largely invisible. Status updates require follow-up. Workflows span disconnected systems. Audit trails are assembled after the fact rather than built in real time. Clients are kept at arm’s length from work that directly affects their investors.

The new generation of C2P addresses this by introducing a shared operating layer that sits above existing systems, agnostic to the accounting platforms, GL systems, and reporting tools a firm already uses, and unifies tasks, communications, approvals, and reporting into one continuous workflow visible to both sides.

At the core of the release is a connected workflow model in which emails are captured in a shared inbox, converted into structured tasks, and managed within defined workflows that drive validation, approvals, and final deliverables. Every request is owned, tracked, and visible from the moment it enters the system to the moment it is resolved. Communication is no longer a parallel channel, it becomes the starting point for execution, with every interaction structured, assigned, and auditable.

Validation, which has historically depended on manual spreadsheets and offline reconciliation, is now embedded directly into the workflow. Validations are built into the workflow, tied to underlying data, and executed as part of the process rather than layered on top of it. Every action within the platform is captured continuously, creating a complete audit trail that includes task ownership, approvals, communications, and supporting documentation, without requiring anyone to reconstruct it after the fact.

Alongside these workflow advances, 4Pines is introducing Acorn, an templated based AI assistant built directly into C2P. Unlike general-purpose AI tools, Acorn operates entirely within each firm’s own environment and data, drawing on live financial data from connected systems, project history, inbox correspondence, and fund documentation to answer questions in plain English. Acorn can not only respond to queries about fund status, capital positions, investor capital-account detail, and project progress in real time, it also provides ad hoc reporting, automated flow creation, data table ingestion and an AI knowledgebase for everyone. Acorn also assists with drafting responses to investor inquiries informed by prior correspondence within the firm’s environment. New Acorn capabilities are being released on an ongoing basis, with the roadmap including automated financial and transactional deliverables, deeper financial data queries, and a fully configurable operational reporting layer built on live fund data.

C2P is designed to operate across existing infrastructure rather than replace it. Firms can connect multiple platforms, standardize workflows across funds, and scale operations without disrupting their current systems. The platform supports any service configuration, full outsourcing, co-sourcing, or self-administered, and connects directly to a client’s own accounting platform instance where applicable.

With this release, 4Pines Fund Services introduces a new standard for what fund administration can look like, not a black box that delivers results, but a shared operating environment where both sides of the relationship can see exactly what is happening, at every step, in real time.

The new generation of C2P is being introduced to 4Pines clients with a process that commenced in June 2026, with additional capabilities rolling out on a continuous basis.

About 4Pines Fund Services

4Pines Fund Services is an employee-owned fund administrator providing fund accounting, operational support, and technology-driven administration to private equity, venture capital, and alternative investment firms. The firm operates as a genuine partner to its clients, 100% U.S.-based, and built around a model of transparency and shared process. C2P is 4Pines’ proprietary client collaboration platform, and the operating foundation of every client relationship the firm manages.

For more information, visit 4PinesFS.com.

Chris Gale, [email protected]

SOURCE 4Pines Fund Services

Financing will help meet growing demand for faster PFAS data across field and laboratory workflows

LONGMONT, Colo., July 29, 2026 — Biota Inc., an environmental diagnostics company developing faster technologies for per- and polyfluoroalkyl substances (PFAS) testing, today announced that it has closed a $3 million seed financing led by Burnt Island Ventures, with significant participation from DeepWork Capital. The round also included renewed participation from Antler, which led Biota’s previous financing, as well as Beyond Utility Water Ventures and the Deming Center Venture Fund.

PFAS are a large family of synthetic chemicals used since the 1940s to make products resistant to heat, oil, stains, grease and water. Known as “forever chemicals,” they do not easily break down, persist in soil and water, and can accumulate in the human body. Exposure to certain PFAS has been linked to liver and immune-system effects, pregnancy complications and some cancers.

“The technology to treat PFAS is advancing, but the ability to measure it has not kept pace,” said Rose Nash, PhD, founder and CEO of Biota. “Organizations cannot optimize treatment systems, map contamination or make rapid remediation decisions when critical data takes weeks to arrive. This financing gives us the capital and strategic partners to bring faster testing tools to the organizations doing the hard work of PFAS monitoring and remediation. I am deeply grateful to our earliest investors, the new investors joining us and the extraordinary Biota team that brought us to this moment. Now, we get to work.”

Biota’s platform accelerates PFAS analysis across both field and laboratory workflows. RapidTest™ is a rapid screening platform designed to provide results in approximately 15 minutes. MagnaPrep™ uses proprietary magnetic nanoparticle technology to streamline laboratory sample preparation.

“The scale of the PFAS challenge will require fundamentally faster and more distributed testing infrastructure,” said Tom Ferguson, Founder and Managing Partner at Burnt Island Ventures. “Rose and the Biota team combine exceptional scientific capability with a firsthand understanding of the analytical bottlenecks slowing the market. We believe Biota can become a critical enabling platform for the PFAS treatment and remediation industry.”

“Biota is addressing a rapidly growing market need with technology that could transform how PFAS contamination is measured and ultimately remediated,” said Benjamin Patz, Managing Partner at DeepWork Capital. “The company has assembled an exceptional team, and we are excited to support Biota as it brings faster, more actionable PFAS testing to market.”

The financing will help scale sales and customer operations, continued advancement of Biota’s rapid PFAS testing tools and expansion of its environmental diagnostics platform to additional contaminants, including microplastics.

Biota recently opened a 7,500-square-foot laboratory and innovation center in Longmont, Colorado, supporting product development, manufacturing and customer deployments.

Biota has received support from the National Institutes of Health’s National Institute of Environmental Health Sciences and the State of Colorado’s Advanced Industries Program. The company also participates in gener8tor’s Great Lakes Innovation Accelerator, supported by the National Oceanic and Atmospheric Administration (NOAA) and the Department of Commerce, and Imagine H2O’s global water innovation ecosystem.

To learn more about Biota and its PFAS testing platform, visit www.biota-labs.com.

About Biota

Biota is an environmental diagnostics company developing faster technologies for PFAS monitoring and analysis. The company’s platform combines rapid screening with innovative laboratory sample preparation technologies to help organizations generate more timely and actionable environmental data. Biota is headquartered in Longmont, Colorado.

About Burnt Island Ventures

Burnt Island Ventures is a specialist venture capital firm investing in entrepreneurs building technologies and businesses for the water sector. The firm supports companies addressing critical water challenges through technology, innovation and scalable business models.

About DeepWork Capital

DeepWork Capital is an early-stage venture capital firm founded in 2015 in Orlando, Florida. The firm invests in tech-forward founders addressing the world’s biggest problems in the technology and life sciences sectors, with a focus on underserved venture capital markets. Learn more at deepworkcapital.com.

Media Contact

Rose Nash, PhD
Founder and CEO
Biota Inc.
[email protected] 
www.biota-labs.com 

SOURCE Biota Inc.

Leading lawsuit funding provider rolls out first-ever national plan to assist victims of cyber-fraud connected to Crypto Currency cases so victims have flexible capital while they wait for justice. 

JERSEY CITY, N.J., July 29, 2026 — Legal Bay LLC, a national leader in pre settlement funding, commercial litigation funding, lawsuit funding, and legal funding, announced today the expansion of its financial services with the launch of cryptocurrency-based funding solutions. The new offering reflects the company’s continued commitment to developing innovative financing products that address the evolving needs of today’s consumers, investors, and businesses.

As cryptocurrency ownership continues to grow and digital assets become an increasingly important part of many individuals’ financial portfolios, Legal Bay recognizes the demand for financing options that provide access to capital without requiring clients to immediately liquidate their cryptocurrency holdings. The company’s crypto-friendly funding program is designed to offer qualified applicants greater financial flexibility while preserving the potential long-term value of their digital assets that may be tied up in court battles.

Chris Janish, CEO of Legal Bay, says, “As financial markets continue to evolve, so do the needs of our clients. Cryptocurrency has become an increasingly important asset class, and we’re committed to staying ahead of financial trends by offering innovative funding solutions that provide greater flexibility and access to capital in fraud lawsuits. We believe we are the first and most experienced company to evaluate and fund crypto cases nationwide. Our company remains focused on delivering responsive service, transparent terms, and funding solutions that adapt to today’s marketplace.”

If you’re a lawyer or plaintiff involved in an active lawsuit and need an immediate cash advance against an impending lawsuit settlement, or if you have been a victim of cyber fraud or cryptocurrency piracy and need legal help, call us and we can put you in touch with the top cryptocurrency fraud lawyers and law firms nationwide.  Please visit Legal Bay HERE or call toll-free at 877.571.0405.

The introduction of cryptocurrency-based advances further expands Legal Bay’s growing portfolio of financial products, which already includes pre settlement funding, lawsuit funding, commercial litigation funding, legal funding, and other specialty financing solutions designed to meet the needs of plaintiffs, law firms, businesses, and individuals facing unique financial circumstances.

Legal Bay notes that cryptocurrency-backed funding represents another step in the company’s broader mission of expanding financial opportunities for clients who may not fit traditional lending models. By combining experienced underwriting with responsive customer service, Legal Bay continues to develop financing programs that address emerging market demands while maintaining prudent risk management standards.

Applications for cryptocurrency-based funding are individually reviewed through Legal Bay’s underwriting process. Funding decisions are based upon eligibility, collateral evaluation, and overall risk assessment, with each application receiving a free comprehensive review of merits of your case before approval.

Legal Bay has built its reputation on providing efficient funding solutions with straightforward communication, competitive pricing, and fast turnaround times. Qualified applicants can often receive funding decisions within 24-48 hours after the necessary documentation has been submitted, allowing clients to access capital when they need it most.

If you’re a lawyer or plaintiff involved in an active lawsuit and need an immediate cash advance against an impending lawsuit settlement, please visit Legal Bay HERE or call toll-free at 877.571.0405.

In addition to cryptocurrency-based advances, Legal Bay continues to offer pre settlement funding, commercial litigation funding, lawsuit funding, legal funding, settlement funding, loans on lawsuits, loans on lawsuit, and loan on lawsuit programs for qualified plaintiffs, law firms, and commercial litigation clients nationwide.

To learn more about Legal Bay’s new cryptocurrency-based funding solutions, commercial litigation funding, or other financing programs, please visit Legal Bay HERE or call toll-free: 877.571.0405 where agents are standing by.

Contact: Chris Janish, CEO

     Email:  info@Legal Bay.com 
     Ph.: 877.571.0405
     Website: www.Legal Bay.com 

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SOURCE Legal-Bay LLC