After quietly powering the world’s top restaurants, Magic emerges from stealth with Loyalist, an AI platform powering personalized hospitality experiences

NEW YORK, Oct. 20, 2025 — Magic, a company building AI for real-world experiences, is announcing $10 million in seed funding led by venture capital firm Lerer Hippeau, with participation from Bling Capital, Floodgate, and industry strategics Major Food Group and VCR Group, Gary Vaynerchuk and David Rodolitz’s hospitality group.

Magic is emerging from stealth after building Loyalist, an agentic CRM platform used by hundreds of restaurants including Major Food Group, Momofuku, Le Bernardin, COTE, and Daniel Boulud’s The Dinex Group.

While AI has supercharged productivity for people who work behind screens like engineers, lawyers, and analysts, it has largely left behind the largest employer sector in the world – the service industry.

Magic is changing that.

“Every aspect of our digital lives has been personalized by AI from how we shop to consume content, but when you walk into a restaurant, hotel, a retail store, the experiences still feel generic,” said Maggie Tang, Founder and CEO of Magic. “The next chapter of AI will happen beyond the chat window – in the real world.”

Magic’s first product, Loyalist, streamlines a restaurant’s existing tech stack: reservations, point-of-sale systems, private event platforms, and social media into a single real-time CRM for marketing, review management, reporting, and more. The platform also surfaces actionable insights that help operators deliver personalized moments at scale like knowing a guest’s favorite booth, remembering they love chocolate cake, or sending them a targeted invite to a wine dinner that matches their preferences.

“One of the things that makes our restaurants special is our deeply personal relationships with our top regulars and friends. Loyalist allows us to scale that personal relationship with every guest who dines with us,” says Mario Carbone, chef and co-founder of Major Food Group, the luxury hospitality brand behind CARBONE, Torrisi Bar & Restaurant, Sadelle’s, ZZ’s Club and more.

“Loyalist is building technology that actually understands the human side of our industry, helping operators connect, anticipate, and engage in ways that feel personal at scale,” says David Rodolitz, co-owner and CEO of VCR Group.

Loyalist already powers tens of millions of guest interactions annually across hundreds of restaurants, representing over $2 billion in guest spend, with revenue growing more than 10x in the past year. The company plans to use the new funding to expand its team and build additional AI-powered products across hospitality verticals, including hotels, retail, real estate, wellness, and more.

“Hospitality experiences are supposed to feel magical — marked by great service, energy, special offerings — but anyone who’s worked in the industry knows how hard it is to make magic every day,” says Ben Lerer, Managing Partner at Lerer Hippeau. “Maggie’s been working in restaurant operations since she was a teenager, and brings a rare combination of product depth and hospitality intuition and taste. Now, she’s using AI to take the friction out of the work so the human side can shine. The tech is finally ready to make that promise real for one of the world’s biggest (and most analog) industries.”

“The more digital our lives become, the more we crave authentic human connection,” said Tang. “Magic is about giving people superpowers to create experiences that make people feel like they truly belong.”

About Magic
Magic builds AI that brings personalization and intelligence to real-world experiences. Its flagship product, Loyalist, helps restaurant hospitality operators understand and delight every guest through data-driven insights. Magic is based in New York City and backed by investors including Lerer Hippeau, Bling Capital, and Floodgate. Learn more at magic.company and loyalist.com

About Lerer Hippeau
Lerer Hippeau is an early-stage venture capital firm founded and operated in New York City. Since 2010, we have invested in entrepreneurs with great ideas who aren’t afraid to do hard things. Our portfolio includes more than 400 leading enterprise and consumer businesses including Guideline, Mirror, Blockdaemon, K Health, Palmetto, ZenBusiness, Zipline, Prose, and Warby Parker. We’re experienced operators who invest early and stay in our founders’ corners as they build iconic companies. Learn more at lererhippeau.com.

About Bling Capital
Bling Capital  is an early stage venture fund founded in 2018 by Ben Ling, a former product executive at Google, Facebook, and YouTube. Since inception, Bling Capital has backed over 100 companies that have collectively raised over $3B. Bling Capital offers a unique Product Council of 100+ top executives as resources to its portfolio companies. We are honored to have been featured by TechCrunch as “The VCs that Founders Love the Most” and Ben Ling was recognized on the Forbes Midas Seed List (#4 in 2023, #5 in 2024).

Media Contacts:
Magic
[email protected]

Major Food Group
Lauren Gnazzo
[email protected]

SOURCE Magic

Endeavor Health, Henry Ford Health, Lurie Children’s Hospital of Chicago, Nemours Children’s Health, Northwestern Medicine, and Rush Health sign on to build high value companies that benefit both healthcare providers and families.

CHICAGO, Oct. 20, 2025 — Six months after launching the Abundant Platform, Abundant Venture Partners has added several leading health systems to its Alliance, bringing the total to 22 healthcare provider organizations. The firm has also introduced a dedicated pediatric cohort, convening leading institutions from across the country to co-develop innovations designed for the specialized needs of pediatric care.

The platform continues to accelerate commercialization of high-potential healthcare ventures through the Abundant Venture Studio, ensure early market adoption across its provider network, and drive scale with strategically aligned, provider-backed seed and Series A funds. In May, virtual cardiology startup Auxira was launched via the platform in partnership with MedStar Health.

“Working alongside our pediatric partners is especially inspiring,” explained Katie Edge, Senior Vice President, Abundant Alliance.  “As we’ve engaged with both standalone pediatric systems and pediatric hospitals inside of larger health systems, we’ve seen an extraordinary spirit of innovation. They have a deep commitment to providing high quality care for children and families while shaping the future of hospital operations.”

Health system members of the Abundant Platform play a pivotal role as co-developers, early adopters, and aligned owners of opportunities uncovered via the Abundant Platform. “At Lurie Children’s, we’ve long focused on innovation within pediatrics,” Tom Shanley, MD, President and CEO, Ann & Robert H. Lurie Children’s Hospital of Chicago. “We’ve been particularly impressed by the perspective Abundant brings to our field from serving health systems across the broader ecosystem.”

Abundant plans to select up to eight additional healthcare organizations to join the Abundant Alliance, and is actively reviewing early-stage startups and entrepreneurs for innovations that offer high value and sustainable solutions to healthcare institutions. To learn more or be considered, visit abundantventurepartners.com.

About Abundant Venture Partners

Founded in 2011, Abundant Venture Partners has developed a collaboration platform that grows high value, sustainable companies to benefit healthcare providers. The platform accelerates commercialization through the Abundant Venture Studio, ensures rapid adoption via the Abundant Alliance of healthcare providers, and drives scale with aligned, provider-backed seed and Series A venture funds. Through a unique combination of aligned ownership, capital efficiency, and focus on strategic impact, Abundant is directing more than $80 billion in healthcare provider buying power toward opportunities that shave years and millions of dollars off the traditional healthcare innovation process. To date, the firm has made 36 investments and founded 19 companies.

Press Contact:
Lauren Davis
Alkali Marketing
512.751.2946
[email protected]

SOURCE Abundant Venture Partners

SAN FRANCISCO, Oct. 20, 2025 — Generate Capital, PBC (“Generate”), a leading infrastructure investment firm, along with Fiera Infrastructure Private Debt, today announced the closing of a C$60 million (US$43 million) inaugural financing for Generate Upcycle’s (“Upcycle”) North American anaerobic digestion (AD) portfolio.

“This financing underscores both the maturity and the momentum of Upcycle’s RNG platform,” said Bill Caesar, President of Generate Upcycle. “Food-waste RNG is scaling, and this transaction shows how creative capital can unlock solutions with real-world environmental and economic impact.”

The portfolio, which includes five upgraded RNG assets across Ontario, Canada and Upstate New York, is expected to deliver approximately 1 million GJ per year of RNG production capacity once fully ramped. The transaction, led by Fiera Infrastructure Private Debt, represents:

• Generate’s first cross-currency, cross-border financing
• The first financing of food-waste RNG in Generate’s portfolio

The long-term facility allows Upcycle to recycle balance sheet capital and supports future expansion across the platform.

“We are proud to partner with Generate on this landmark transaction, which demonstrates both the growing maturity of the RNG sector and the ability of innovative financing structures to support its expansion,” said Stephen Zagrodny, Managing Director, Fiera Infrastructure Private Debt. “Food-waste RNG represents a critical solution for decarbonizing energy systems while addressing waste management challenges, and we are pleased to help accelerate Upcycle’s growth in this important area.”

Generate Upcycle, a wholly owned subsidiary of Generate Capital, is a renewable natural gas and electricity production platform providing integrated organic waste solutions to public and private partners across Canada, the United States, and the United Kingdom. Upcycle’s portfolio includes four anaerobic digesters and two pre-processing facilities in the U.S. and Canada that collectively process approximately 400,000 tons of food waste annually, producing around 1 million GJ of RNG. Upcycle’s portfolio of seven anaerobic digesters and one pre-processing facility in the United Kingdom processes approximately 500,000 tons of organic waste and produces both ~600,000 GJs of RNG and ~100,000 MWh of renewable electricity annually.

The company serves municipal and commercial customers with waste processing solutions while supplying RNG under long-term agreements with high-quality utility and corporate counterparties.

About Generate Capital

Generate is a specialized multi-strategy investment platform that builds, owns, and operates critical infrastructure. The firm finances and delivers affordable, resilient solutions that provide essential resources to customers and communities, while supporting the nation’s growing demand for power. Since 2014, Generate has invested in and operated assets across six key sectors: power, mobility, waste, green digital, water, agriculture, and industrial decarbonization. With more than $14 billion raised since inception, the firm’s portfolio includes over 2,000 assets and more than 50 partnerships with leading technology providers and developers.

For more information, please visit www.generatecapital.com.

About Fiera Infrastructure Private Debt

Fiera Infrastructure Private Debt is a division of Fiera Private Debt Inc., which is a subsidiary of Fiera Capital Corporation. Fiera Infrastructure Private Debt directly sources and structures private debt investments across a diverse mix of North American infrastructure sectors. Led by a team of experienced and specialized infrastructure debt professionals, Fiera Infrastructure Private Debt’s differentiated approach targets an attractive mid-market niche to help optimize cash yield and the defensive attributes inherent to both private credit and infrastructure investments. As of June 30, 2025, Fiera Infrastructure Private Debt had C$594 million in assets under management. For more information, please visit: www.fierainfradebt.com.

SOURCE Generate Capital

Milvus’s proprietary materials have been independently validated for their superior performance and durability. With this new funding, the company will accelerate its mission to recreate Earth’s rarest metals from abundant elements and scale commercialization across clean energy, transport, electronics, and chemical manufacturing.

Engineering the Next-Generation of Engineered Alternative Elements
Today’s energy and electronics sectors rely heavily on rare metals such as platinum group metals: scarce, expensive, and sourced from geopolitically fragile regions. This creates cost volatility, insecure supply chains, and environmental damage. Milvus eliminates these constraints by recreating the properties of rare metals using sustainable, earth-abundant nanoalloys that deliver equal or superior performance, with a focus on electrochemical and optoelectronic applications.

Milvus Advanced is tackling this bottleneck by recreating their properties using sustainable, earth-abundant nanoalloys delivering equal or superior performance of these critical elements, focusing first on electrochemical and optoelectronic applications at a fraction of the cost without relying on supply chain unreliability.

Milvus operates on a B2B model, delivering next-generation nanoalloy technologies to sectors where performance, cost, and sustainability intersect. Deep tech industries are urgently seeking new material alternatives. Milvus is uniquely positioned to unlock the next materials revolution.

Key application areas include:

• Clean Energy & Transport: Enhance efficiency in hydrogen and solar systems performance
• Chemical Manufacturing: Enable cleaner, more energy-efficient industrial reactions 
• Electronics: Improve device performance, energy efficiency, and longevity

Reshaping the Catalyst Industry

“What if the periodic table did not limit us?” said Assia Kasdi, CEO of Milvus Advanced. “We are rewriting the elemental rules: our technology offers a clear path to scale low-carbon solutions without relying on rare materials. This funding fuels our mission to scale production, grow our team, and bring our metal substitutes to industries building the next generation of climate solutions.”

With the seed capital, Milvus will continue to rapidly move from scientific breakthrough to scalable impact. Its first-of-a-kind nanoalloys and membranes are already tested in partnership with global electrolyser OEMs and chemical manufacturers. With this funding, Milvus will expand its team, scale production and commercial partnerships, enter the U.S. market to establish advanced materials manufacturing and strategic partnerships, and deepen R&D into new material systems.

“Milvus is redefining what’s possible in material performance,” said Hussein Kanji, Founder and Partner at Hoxton Ventures. “Their materials have demonstrated superior results in demanding electrochemical and optoelectronic applications—and they’re doing it with a step-change in scalable production. At a time when industries are constrained by the limits of critical earth metals, Milvus is opening a new frontier that can accelerate clean energy, advanced manufacturing, and next-generation electronics.”

About Milvus 

Founded in Oxford, Milvus designs next generation of low-cost nanomaterials that replace some of the world’s most scarce and strategic materials in clean energy, catalysis and optoelectronics. By leveraging widely available elements and proprietary materials engineering, Milvus catalyzes a future where the energy transition is not only possible but elemental.

Media Contact:
Tim Turpin, CodePR
[email protected]

SOURCE Milvus Advanced

Andel enables employers to offer GLP-1 weight-loss medications as a benefit — at a fraction of the cost of insurance.

LAS VEGAS, Oct. 20, 2025 — At HLTH, Andel announced a $4.5 million capital raise to launch a revolutionary new platform that strengthens pharmacy benefits by giving employers an affordable way to include GLP-1s. Investors include Lightbank, Seedcamp, Bertelsmann Healthcare Investments, Houghton Street Ventures, and Springboard.

Two out of three employers (64%) do not offer GLP-1 coverage for weight loss. Employees need these medications, but with their healthcare costs projected more than 10% in 2026, employers can’t afford to cover them.

Andel solves this problem with a unique cooperative model that leverages members’ combined buying power to purchase medications directly from manufacturers at below-market prices. Then, employers add a subsidy of their choosing to further reduce costs to members. From prescription verification to next‑day delivery, the entire experience is seamlessly coordinated through Andel’s native apps.

“Expanding access to healthcare is the cornerstone of our mission,” said Ritu Malhotra, co-founder, PharmD. “Andel gives employers an innovative new pharmacy-benefit solution that fills the coverage gap.”

The result? Employees get the brand-name medicine they need at a price they can afford — no waiting for approvals or prerequisites. And employers get a compelling plug-and-play benefit that fits their budget.

“We’re living in an era of life-changing medical breakthroughs, yet they remain out of reach for millions of Americans,” said Jay Bregman, co-founder and CEO. “By building Andel as a cooperative platform, we align incentives with our members — not insurers.”

Andel’s founding team:

Jay Bregman has raised more than $250 million and successfully exited three companies, including the ridesharing network Hailo (now Lyft Europe) and Thimble, which was acquired by S&P 500 insurer Arch.

Ritu Malhotra, PharmD, is a licensed pharmacist with more than 20 years of leadership experience across major benefit-consulting firms, She also served as a top executive at CVS Health.

Andel’s Investors In Their Own Words:

“Connecting businesses and their employees directly to a new pharmacy benefit is a powerful way to expand access to vital drugs. As the first mover, Andel’s experienced founding team is uniquely positioned to navigate the complexities of healthcare and deliver exceptional value,” said Thorsten Wirkes, Managing Director at Bertelsmann Healthcare Investments.

“Andel brings a fresh, cooperative approach to drug access that will open doors for both employers and patients. Their focus on GLP-1s meets urgent market demand for these drugs, while offering measurable ROI for companies seeking affordable, effective employee benefits.” Said Eric Ong, partner at Lightbank.

“We are always delighted when LSE alumni launch successful ventures, particularly those addressing important social problems,” said Larry Kramer, president and vice chancellor of the London School of Economics.”We congratulate Andel as it makes major progress toward addressing a vast global market with an innovative, transformative solution. As we continue to attract exceptional international talent, particularly from the United States, investments like this highlight the ambition, creativity, and global impact of the LSE community.”

“From Day One, we are incredibly excited to support Andel’s mission of rebuilding the U.S. pharmacy benefits model starting from first principles. Jay and Ritu combine entrepreneurship with in-depth knowledge of the healthcare and pharmacy benefits sector, uniquely positioning them to tackle one of the US healthcare system’s most challenging issues,” said Reshma Sohoni, founder and managing partner of Seedcamp.

“Andel is redefining access to high-cost drugs by securing direct manufacturer contracts, leveraging employer subsidies, and cutting through PBM bottlenecks. At a time when payers face severe headwinds and patient access is at risk, Andel offers a better path forward for patients, payers, and providers. Jay and Ritu bring a rare mix of entrepreneurial execution and deep industry expertise, and Springboard Health Angels sees extraordinary promise in what they are building.” Said Eli Goldberg, PhD, MSc, core angel at Springboard Health Angels.

Other investors in the round include Semper Virens and Citylight.

About Andel

Andel is a revolution in drug affordability — a cooperative employee platform that unlocks access to GLP-1s and other brand name medications. Andel is launching nationwide in early 2026.

To learn more, please visit andel.org.

Andel Pharmacy, LLC is a licensed pharmacy and a wholly owned subsidiary of Andel Co-op, Inc.

Media Contact:

[email protected]

SOURCE Andel Co-op, Inc.

Amantha Bagdon of RxPost receives $50,000+ in Startup Services to Advance her Entrepreneurial Vision

LOS ANGELES, Oct. 17, 2025 — Gunderson Dettmer and Alpha Edison last night announced RxPost as the winner of PitchLive.LA which took place on October 14 during LA Tech Week. Selected by a panel of leading LA venture firms for its vision and execution, RxPost embodies the entrepreneurial drive fueling LA’s startup community and will receive over $50,000 in legal and other professional services, supporting the startup as it continues to grow.

Founded by Amantha Bagdon, RxPost’s pharmacy-to-pharmacy marketplace makes it simple for neighborhood pharmacies to buy and sell surplus inventory to one another, reducing waste in the supply chain and ensuring vital medicines make it to patients who need them most.

“Winning this pitch competition and speaking on pharmacy innovation is more than just an incredible honor, it is a strong validation of RxPost’s mission to revolutionize the pharmacy supply chain and empower independent pharmacist owners through technology-driven solutions,” said Amantha Bagdon, Founder and CEO of RxPost. “Our goal is to streamline pharmacy operations, improve inventory transparency, and reinforce the vital role of community pharmacies in accessible healthcare. This recognition further motivates our team to drive reform across the pharmacy technology sector and advance the future of personalized, community healthcare.” 

PitchLive.LA gave the stage to pre-seed and seed founders to share their vision with investors from Alpha Edison, Amplify.LA, Bonfire Ventures, and Fika Ventures in a live pitch competition. RxPost was among five finalists selected to present, including:

Alpha Edison Partner and PitchLive.LA judge, Britt Danneman said, “PitchLive.LA captured what makes this city a great place to build companies — an entrepreneurial community defined by creativity, great talent, industry driven insights, and collaboration across the ecosystem. “

Ahead of the event, the top 10 founders were also invited to an exclusive storytelling development dinner hosted by Gunderson Dettmer and led by coach, entrepreneur, educator, and angel investor Jason Yeh, also founder of Adamant.

Olga Zolotnik, partner at Gunderson Dettmer, “As someone who grew up in LA, I’ve always thought that LA’s true diversity was underrated. LA has always been a city of individuals with unique skill sets and backgrounds building unexpected and inspiring passion projects that have global impact. Gunderson is honored to have the opportunity to support and serve the entrepreneurs shaping the next generation of innovation here in LA.”

Jared Mayberry, corporate partner at Gunderson added “The pitches were exceptional. The founders brought bold ideas, sharp execution, and resilience to the stage on Tuesday. LA has always attracted dreamers and builders – people who turn an idea into reality.”

For more information about PitchLive.LA, follow #PitchLiveLA or visit pitchlive.LA.

About Gunderson Dettmer

Gunderson Dettmer  is the preeminent international law firm with an exclusive focus on the innovation economy. The firm serves market-leading venture capital and growth equity investors and pioneering companies through inception, growth and maturity, as well as groundbreaking public companies that result from the global venture capital ecosystem.

Gunderson Dettmer has hundreds of attorneys across twelve offices in key venture markets throughout the world – Silicon Valley, Ann Arbor, Atlanta, Austin, Beijing, Boston, Los Angeles, New York, San Diego, San Francisco, São Paulo and Singapore.

About Alpha Edison

Alpha Edison (“AE”) is an investment firm focused on category-creating companies. Since its inception in 2016, Alpha Edison has invested in more than 80 companies and has assets under management approaching $1B across its three funds. AE is a research-driven venture firm that invests in primarily early-stage companies using data and behavioral science to provide investable insights and unlock new markets. The firm is composed of entrepreneurs, operators, technologists, and investors with a focus on investing in and building category-defining companies through a network of Nobel laureates, PhD researchers, and futurists. For more information, visit alphaedison.com.

About RxPost

Serving hundreds of pharmacies across 16 states, RxPost is on a mission to reduce pharmaceutical waste and boost profitability for neighborhood drugstores. RxPost is a leading provider of intelligent inventory management and sharing solutions for independent pharmacies. Founded by a passionate pharmacy technician and vocal advocate for the profession, RxPost is obsessed with helping community drugstores thrive in an increasingly competitive market. The company’s proprietary technology platform leverages data-driven insights to reduce waste in the pharmaceutical supply chain and boost profitability for mom and pop pharmacies.

Much of RxPost’s success can be attributed to its team of experienced pharmacy technicians who bring valuable lived experience and insights to the company’s mission. The company’s primary offering is a pharmacy-to-pharmacy marketplace that facilitates the redistribution of surplus inventory to other independent pharmacies in need, supported by simple workflows, DSCSA-compliance, and a commitment to reliability and exceptional customer service.

RxPost Pharmacy-to-Pharmacy Marketplace

SOURCE Gunderson Dettmer

Round led by Yosemite with support from General Catalyst, Chelsea Clinton, SV Angel, and others

PALO ALTO, Calif., Oct. 17, 2025 — Sage Care, a platform designed to eliminate healthcare navigation inefficiencies through a combination of clinically intelligent AI agents and advanced optimization algorithms, today announced its public launch with $20M in funding led by Yosemite and continued support from General Catalyst, Metrodora (Chelsea Clinton), OVTR.VC, SV Angel, Liquid 2, Seven Stars, Refract Ventures, AME Cloud Ventures, and Apollo Ono.

Sage Care’s platform has demonstrated the potential to help health systems achieve a 15-20% revenue increase through optimized care coordination, matching patients to the right providers based on clinical context and operational needs. With medically informed AI agents for advanced triage, precise specialist matching, and optimized scheduling, Sage boosts provider throughput by managing and streamlining administrative and patient interactions, including the ability to:

• Answer and triage patient calls, messages, and requests 24/7
• Manage appointment scheduling, referral processing, and insurance verification
• Coordinate follow-ups for diagnostics, care plans, and medication adherence

The platform’s unique predictive optimization tools, including clinically intelligent voice agents, are embedded into existing systems, helping hospitals and clinics reduce bottlenecks by determining when and where patients will need services. Its customized multi-modal agents can be rapidly trained and deployed within 48 hours, rather than weeks or months. They are fully customized and capable of plugging into various workflows, processes, and policies to meet the rigorous clinical protocols of any organization.

“Millions of Americans are getting lost in our healthcare system. Patients call in looking for help and are unable to reach the right provider. During meetings with leaders at over 75 health systems across the country, we realized our team could solve what is essentially a navigation issue. We’re bringing our technical expertise in routing, automation, and complex AI systems to healthcare with the hopes of helping as many people as possible get the care that they deserve”, said Justin Ho, CEO of Sage Care. “This funding allows us to bring our vision to life with our partners and we’re incredibly grateful for their support,” he added.

Sage Care was founded by a team inspired to help more people get the care that they deserve and protect against provider burn out, all while helping health systems increase incremental revenue through optimization technologies. The company is broadly expanding on current success to support both regional multispecialty clinics as well as large health system partners, including customers like Jiva Health, and upcoming deployments with Bronson Healthcare and White Plains Hospital. Sage Care’s AI-driven solutions have already demonstrated substantial impact, reducing clinician time loss due to no-shows and poorly matched appointments, decreasing unnecessary ER visits, and enhancing call center efficiency. With Sage, providers will be able to pick up every phone call, increasing appointment volume and top line revenue.

“The way healthcare is designed today for a patient to obtain access to the right care at the right time is inefficient for healthcare providers and often results in suboptimal patient experience”, said Dr. Ash Goel MD, Senior Vice President and Chief Information Officer at Bronson Healthcare. “The care navigation operating system, Sage, addresses these complexities and can help us streamline the journey to offer more accessible care to our patients. We believe that Sage mirrors many of Bronson’s important cultural values, and we look forward to embarking on this multi-year journey with them,” he added.

“Sage Care has the unique vision to not only replace legacy IT systems with AI, but to totally reinvent the front office of healthcare around this technology, added Matt Bettonville, Investor at Yosemite. “We believe they can take away the frustration of dealing with healthcare and help reduce crucial times to diagnose and treat patients who need it most.”

The company was founded in 2024 by second-time founders Dr. Caesar Djavaherian, co-founder of Carbon Health and Justin Ho, co-founder of rideOS and a leader of Uber’s self driving division, and Chris Blumenberg, who worked on the original iPhone, after noticing how complex, convoluted, and frustrating the healthcare system can be. The three founders have achieved over $1B+ in exits across the healthcare, self-driving, and automation industries. Dr. Djavaherian, who previously served as the Chief Clinical Innovation Officer at Carbon Health, now serves as Chief Medical Officer at Sage Care, with Blumenberg alongside as Chief Technology Officer.

For more information on Sage Care, visit www.sage.care.

About Sage Care
Sage Care is a technology platform dedicated to streamlining the patient journey and improving access to care through specialized medical AI agents. These agents provide intelligent and on-demand triage, precise specialist matching, and optimized scheduling, enhancing the productivity of healthcare teams by reducing administrative burden. Sage Care also develops optimization and intelligence tools to align clinical supply with patient demand, reducing healthcare bottlenecks and increasing access. Their multimodal AI agents can be trained with health system data, knowledge bases, workflows, and SOPs within 48 hours. The company was founded by experienced entrepreneurs Dr. Caesar Djavaherian, Justin Ho, and Chris Blumenberg.

Media Contact
Carlos Peraza – [email protected]

SOURCE Sage Care

Firm builds on top 5% Fund I with more concentrated ownership, sector expertise, and an operator-led model

NEW YORK, Oct. 17, 2025 — Asymmetric Capital Partners (“Asymmetric”), an early-stage technology investment firm launched in 2021, today announced the close of Asymmetric Fund II at $137 million, surpassing its $125 million target. The fund attracted strong support from return investors in Fund I, alongside new family offices and institutional LPs who share conviction in the firm’s differentiated approach. This brings Asymmetric’s total AUM to over $240 million.

Fund II continues Asymmetric’s focused strategy of high-conviction, operator-led investing at the earliest stages of company formation. The fund will continue to target concentrated ownership in companies where a single outcome has the potential to return the fund. Investments will range from $2–10 million as a lead in Pre-seed through Series A rounds, with a focus across three core areas:

• Vertical Software for Legacy Industries — Backing platforms that modernize workflows and unlock efficiencies in large but underserved markets.
   
• Healthcare IT & Services — Partnering with founders building technology to improve care delivery, reduce costs, and enhance patient outcomes.
   
• SMB Consolidations (“Rollups”) — Supporting technology-driven operators consolidating fragmented industries to create category leaders.

“With Fund II, we’re doubling down on the strategy that made Fund I so successful: disciplined, high-conviction investing in sectors where we bring deep expertise and real operational value,” said Rob Biederman, Managing Partner. “This fund is designed to be more concentrated — allowing us to take meaningful ownership stakes and work shoulder-to-shoulder with founders to build enduring companies.”

Strong Results from Fund I

Launched in 2021 with $105 million, Fund I backed 29 core investments and has already seen three successful exits: Torc (acquired by Randstad), EvolutionIQ (acquired by CCC Intelligent Solutions), and Zorus (acquired by DNSFilter). Fund I ranks in the top 5% of its vintage by DPI and has outperformed across all metrics — validating Asymmetric’s disciplined, operator-centric model (source: Cambridge Associates).

Only 8% of first-time venture funds from the 2021 vintage have successfully raised larger successor vehicles, highlighting the significance of the Fund II close in what has been a historically challenging fundraising environment (source: Pitchbook).

Backed by Operator-Oriented LPs

Asymmetric’s investor base in Fund II consists of value-added LPs, many with direct experience in venture-backed operations, investing, or scaling technology businesses. Additionally, the General Partner team has committed over $5 million of personal capital to Fund II, underscoring alignment with LPs and confidence in the long-term strategy.

“I’ve seen firsthand how rare it is to find investors who combine high conviction with humility, speed, and strategic depth,” said Chris Douvos, founder of Ahoy Capital, a Limited Partner in Fund II and long-time institutional investor known for writing early checks into new venture firms that have become blue chip names, among them First Round Capital. “The Asymmetric team stands out not only for their results, but for how they achieve them — with respect, thoughtfulness, and genuine partnership.”

Loved by Founders

A significant share of Asymmetric’s deal flow comes from existing founders — a testament to the firm’s reputation among entrepreneurs.

“What sets Asymmetric apart is how deeply they commit. They understood our vision right away and have supported us across every front — recruitment, strategy, and fundraising,” said Muthu Alagappan, Founder & CEO of Counsel Health. “They’ve been true partners, always stepping in with the right support at the right time.”

About Asymmetric Capital Partners

Founded in 2021, Asymmetric Capital Partners (“Asymmetric”) is an early-stage technology investment firm purpose-built to back founders with conviction, concentration, and real operational support. The firm invests in disruptive technology-driven companies in the Pre-seed through Series A stages. Asymmetric’s DNA is different by design: its team blends rigorous investing experience with hands-on operating expertise, having built, scaled, and acquired companies themselves. This allows Asymmetric to partner with founders as true thought partners — from refining an idea pre-launch to building go-to-market strategies, recruiting key executives, or pursuing acquisitions. With over $240 million in assets under management, Asymmetric has backed nearly 90 companies to date, with Fund I ranking in the top 5% of its 2021 vintage. The team, composed of managing partner Rob Biederman, partners Nancy Chou and Sam Clayman, head of portfolio and platform Michele Spitzer, and chief operating officer Sarah Unger Biggs, actively pursues investments in New York City, Boston, and San Francisco.

Media Contact
Kelsey Cullen, KCPR
[email protected]
650.438.1063

SOURCE Asymmetric Capital Partners

Round led by Yosemite, with participation from NextGen Venture Partners, Innospark Ventures, Tau Ventures, and others

MIAMI, Oct. 17, 2025 — Fourier Health, a leading clinician-in-the-loop AI platform that streamlines and consolidates patient clinical data into use-case specific summaries to reduce administrative burden, today announced $8.4 million in seed funding led by Yosemite, with participation from Innospark Ventures, NextGen Venture Partners and Tau Ventures, and pre-seed funding from Lasagna, NextGen Venture Partners, Myelin, and Despierta.

Fourier Health was founded in late 2023 by multi-time founders and industry veterans James Lloyd and Christopher Lee. Fourier integrates with complex and fragmented referral and data harmonization workflows, surfacing only relevant and workflow-specific clinical findings. By parsing through high-volume patient data sources such as PDFs, faxes, handwritten notes, and other structured repositories, Fourier builds concise, relevant, and context-specific summaries, turning unstructured data into actionable patient-clinician insights. Fourier clients report seeing meaningful improvements in patient onboarding, an over 98% document validation reduction, and 2-3 hours of administrative burden returned per patient. With this new funding, Fourier will continue to refine its R&D infrastructure and build a leading team of engineers, sales, and implementation teams.

“Unstructured data in clinical care needs to be reimagined. The inefficiencies that plague scattered patient data, especially when providers waste so much time synthesizing it into something useful, are solvable,” said Christopher Lee, Co-Founder and CEO of Fourier Health. “We’re applying domain-specific artificial intelligence to tackle these pain points directly: providing last-mile LLM-enablement and specialty-specific customizations, truly allowing clinicians to do what they do best. We’re incredibly grateful for the support, especially from investors that deeply believe in our mission as we continue to serve healthcare professionals and patients better.”

The Fourier platform integrates into various Electronic Health Record systems with high levels of customization, enabling the processing of multi-source and multi-format documents, which in turn allows for stronger longitudinal and clinical summaries. By leveraging handwritten documents, PDFs, faxes, and Health Information Exchanges, Fourier can provide a much more comprehensive and holistic view of patient wellness, while at the same time reducing administrative workload with automatic document labeling and processing.

“Recent advancements in AI and LLM technologies have unlocked a world of new possibilities, yet the secret to making these truly useful and safe for patients and providers is to seamlessly embed these technologies within the existing data streams and workflows in health systems”, said James Lloyd, Co-Founder and CTO of Fourier Health. “Our team brings the healthcare industry experience with the technical expertise to make this happen.”

“We’re incredibly excited to be supporting Fourier Health in their vision to streamline patient onboarding and increase access to specialized care,” said Matt Bettonville, Investor at Yosemite. “Fourier is setting the standard for how AI can be applied in healthcare to reduce administrative burden and reduce time to treatment for the patients most in need of care.”

A key piece of the company’s platform is its ability to seamlessly embed into complex workflows and tap into a proprietary network of specialist clinicians who review and validate summaries, ensuring clinical accuracy and continued improvement of Fourier’s models.

Before founding Fourier Health, James Lloyd co-founded and served as Chief Technology Officer of Redox Health, a leading healthcare interoperability platform integrated with over 9,000 healthcare systems, 120 different EHRs, and backed by nearly $100 million in funding. Christopher Lee co-founded and served as Chief Operating Officer of InfiniteMD, an expert medical opinion platform with over 3,500 specialty physicians, which was acquired by Alight in 2021.

For more information on Fourier Health and its platform, visit fourierhealth.com.

About Fourier Health
Fourier Health is a healthtech startup streamlining and standardizing unstructured clinical data, simultaneously reducing administrative burden through AI-generated clinical summaries via a clinician-in-the-loop architecture. Built by experienced, multi-time founders from Redox Health and InfiniteMD, Fourier helps providers turn scattered and voluminous patient data into structured, actionable analytics. By enhancing referral workflows and optimizing care coordination, Fourier accelerates diagnosis, boosts provider revenue, and enhances patient outcomes.

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SOURCE Fourier Health