• Lindus Health is the ‘anti-CRO’ fixing the broken clinical trial industry, setting the stage for greater scientific innovation and lower healthcare costs.
• The company offers clinical trials that are up to three times faster and produce demonstrably better quality trial data than traditional players.
• The Series B was led by Balderton Capital and will be used to further develop Lindus Health’s proprietary AI- and technology-enabled delivery of clinical trials.

NEW YORK, Jan. 22, 2025 — Lindus Health, “the anti-CRO” running radically faster, more reliable clinical trials, announced today it has raised $55M in Series B funding. The round was led by new investor Balderton Capital, with support from Visionaries Club and existing investors Creandum, Firstminute, and Seedcamp. The company is backed by a star-studded strategic advisory board, including Robert S. Langer, founder of Moderna and over 40 other biotechnology companies, and Tim Garnett, former CMO of Eli Lilly, amongst others.

As the only major provider offering fully integrated CRO services and in-house trial management technology, Lindus Health is uniquely positioned to leverage big data and AI. The $55M in new funding will allow the company to further develop their AI technology and eClinical platform, Citrus™, to optimize study design, automate central monitoring of study data, enable instant biostatistics, and more, as well as hiring in key areas including clinical operations and product development.

All new medical treatments must undergo rigorous testing through clinical trials, which are run by contract research organizations (CROs), to demonstrate that they are safe and effective. CROs are notorious for running trials over-time and over-budget – 85% of clinical trials are delayed – and the clinical research process has become exponentially slower and more expensive over the last two decades. The CRO industry has remained stagnant with extremely limited adoption of technology or modern approaches to streamline clinical development. This ultimately hinders the pace treatments can reach patients and drives up research and healthcare costs. From 2021 to 2022 alone, the cost of developing a single drug was estimated to have increased by almost $300M. These costs are passed on to patients in the form of higher drug prices and insurance premiums. 

Lindus Health is disrupting the $112B CRO industry with its tech-first “anti-CRO” approach, thanks to a combination of in-house technology and vertical integration of services. The company has leaned heavily into the power of AI and automation through their proprietary clinical trial software platform, Citrus™. It also built sophisticated methods for central patient recruitment and enabling new trial designs. This has resulted in massive efficiency gains, with clinical trials that are up to three times faster and produce demonstrably better quality trial data, ultimately setting the stage for greater scientific innovation and lower healthcare costs.

“The antiquated CRO model is failing the industry and failing patients, with inefficiencies and misaligned incentives propelling costs and causing researchers to stumble before their breakthroughs can reach patients,” said Meri Beckwith, co-founder of Lindus Health. “Lindus breaks the cycle by completely reinventing the way clinical trials operate, allowing life science companies to iterate faster.”

“The last 20 years have seen huge breakthroughs in fundamental scientific research, but this isn’t impacting the general population because of the artificial bottleneck that clinical trials create,” said Michael Young, co-founder of Lindus Health. “We’re fixing that with a new paradigm for running trials underpinned by technology. That doesn’t just lead to faster trials, it changes the way companies can think about drug development going from waterfall big bets to agile research.” 

Launched in 2021, Lindus Health has operated a total of 42 end-to-end clinical trials, making an impact across a broad range of market segments including psychiatry, diagnostics, and respiratory health. The company has enrolled over 36,000 patients in their trials across North America and Europe, including collaborations with Aktiia on a 7,500-patient device study and Pharmanovia on a Phase IV trial for insomnia.

“We’re thrilled to partner with Lindus Health in their mission to improve the clinical research ecosystem,” said Suranga Chandratillake, General Partner at Balderton. “In an industry marked by slow growth and fragmentation, their vision for how clinical trials should operate and unwavering commitment to help improve patient outcomes puts them on a completely different playing field than other companies in this space. With the last two decades of developments in the life sciences and artificial intelligence we are at the cusp of an exciting new wave of drug discovery, Lindus’ pioneering mission to build the anti-CRO will enable the translation of these discoveries into the therapeutics that will improve the health and lives of millions of people.”

Lindus Health’s pioneering use of machine learning (ML) to predict clinical trial outcomes from historical trial data and optimize study design has earned recognition in Nature. The company also facilitated foundational research into perceptions on clinical trial participation across various demographic groups, conducted alongside Oxford University, highlighting its commitment to turning patient insights into actionable steps that improve trial outcomes. Lindus has earned numerous accolades such as inclusion in WIRED Startups 100, Sifted, and others that reflect Lindus’ growing influence on the way clinical trials are executed and managed.

This latest funding marks a pivotal step in Lindus Health’s journey to create monumental change in the way clinical research is conducted. By breaking free from outdated industry norms, the company is unlocking the potential for groundbreaking treatments to reach patients more efficiently, setting the stage for better healthcare for all.

To learn more about Lindus Health and its bespoke CRO, site, and technology solutions for clinical trials, visit www.lindushealth.com.

About Lindus Health
Lindus Health is an anti-CRO running radically faster, more reliable clinical trials for life science pioneers – bringing ground-breaking treatments to patients more quickly. This is achieved through a commercial model that aligns incentives (fixed-priced quotes per study, with milestone-based payments), a world-class clinical operations team with its unique software platform, and access to over 40 million Electronic Health Records.

Clinical trials are the biggest bottleneck to advances in healthcare. Lindus Health removes this constraint through end-to-end execution of clinical studies driven by technology and forward-thinking approaches to clinical operations.

To date, Lindus Health has delivered clinical trials across the US, UK and Europe to tackle a range of conditions, including diabetes, asthma, acne, social anxiety, major depressive disorder, hypertension, chronic fatigue syndrome and insomnia. The company has raised over $80M from investors including Peter Thiel, Balderton, Creandum, Firstminute Capital, and Seedcamp.

About Balderton Capital
Balderton Capital is a multistage venture firm with more than two decades of experience supporting Europe’s best founders from Seed to IPO. We have both early and growth funds and invest across the technology sector, with a proven track record backing AI, fintech, B2B SaaS, digital health, mobility, gaming and marketplace companies. Previous investments include Darktrace, Depop, Flywire, Kobalt, MySQL, Nutmeg, Peakon, Recorded Future, Talend and THG. Balderton’s current portfolio includes: Aircall, Beauty Pie, Contentful, Dream Games, GoCardless, Lendable, Matillion, Merama, Photoroom, Revolut, Tibber, Wayve, Writer and ZOE.

Media Contact:
Jodi Perkins
Amendola for Lindus Health
[email protected]

SOURCE Lindus Health

PHOENIX, Jan. 22, 2025 — Trinity Capital Inc. (NASDAQ: TRIN) (“Trinity Capital” or the “Company”), a leading alternative asset manager, today announced that its equipment finance vertical has surpassed $1 billion in fundings to high-growth companies since 2018. This milestone underscores the Company’s commitment to supporting the growth and innovation of businesses in a variety of industries, including manufacturing & automation, energy, space technology, climate tech, and artificial intelligence.

“Crossing the $1 billion mark is a testament to the strength and dedication of our equipment finance team,” said Kyle Brown, Chief Executive Officer of Trinity Capital. “We believe the market is primed for continued growth of this vertical and we’re excited to build on this momentum, driving even greater value for our clients and stakeholders.”

Trinity Capital has established itself as a key player for capital expenditure (CapEx) financing. With a dedicated team of investment professionals, the equipment financing vertical has supported companies such as Hermeus Corp., DrinkPAK LLC, Hadrian Automation, Inc., Rocket Lab USA, Inc., and Dandelion Energy in scaling their operations, fueling innovation and advancing key sectors in manufacturing.

“The success of the equipment financing vertical highlights the growing demand for flexible, innovative financial solutions that align with the strategic goals of companies across various industries,” said Ryan Little, Senior Managing Director, Equipment Finance at Trinity Capital. “This financing solution empowers companies to access additional capital without diluting their equity base, which not only strengthens their capital structure but also positions them for long-term success.”

Cited fundings include debt investments made by the equipment finance vertical from January 1, 2018, through December 31, 2024. Prior to January 16, 2020, such investments were made through Trinity Capital’s predecessor funds, the first of which was launched in 2008. On January 16, 2020, these predecessor funds were merged with and into Trinity Capital, immediately after which Trinity Capital began operating as a business development company.

About Trinity Capital Inc.
Trinity Capital Inc. (Nasdaq: TRIN) is an international alternative asset manager, aiming to provide investors with stable and consistent returns through access to the private credit market. We source, vet, and invest in dynamic privately funded growth-oriented companies, giving our investors access to a strong and diversified portfolio. With distinct business verticals, Trinity Capital stands as a trusted partner for innovative companies seeking tailored growth capital solutions. Headquartered in Phoenix, Arizona, the firm has an international footprint, supported by a dedicated team of strategically located investment professionals. For more information, visit the company’s website at trinitycapital.com and stay connected by following us on LinkedIn and X (formerly Twitter).

SOURCE Trinity Capital Inc.

Funding round led by Base10 Partners to expand platform capabilities and market reach

NEW YORK, Jan. 22, 2025 — Belfry Software, a modern platform for physical security providers, announced it has raised $12 million in a Series A funding round, bringing Belfry‘s total financing to $20 million. The investment was led by Base10 Partners with continued support from existing investors Bienville Capital and Aglaé Ventures. This capital will accelerate product innovation and the delivery of exceptional customer experiences to meet rising market demand.

Belfry has transformed how security businesses operate by consolidating critical functions including scheduling, timekeeping, payroll, billing, and more, into a single, integrated solution. This allows security providers to improve back office efficiency, enhance employee experiences, and focus on delivering exceptional service to their customers.

“Security businesses face unique challenges, from complex scheduling needs to compliance and payroll intricacies. Our mission has always been to simplify these processes with intuitive yet powerful tools and outstanding support,” said Jordan Wallach, Co-Founder & CEO of Belfry. “This investment allows us to deliver even more value to our customers and expand our impact across the industry. We‘re just getting started.” 

“We are excited to support the Belfry team as they continue to build a best-in-class product that is purpose-built for their customers,” said Caroline Broder, Partner at Base10 Partners. “The security market in particular has very specific workforce and staffing-related workflow needs which are underserved by incumbent vertical solutions or by attempts to apply non-vertical platforms to the security industry. Spending time with Belfry‘s customers and other leading security businesses has deepened our conviction that Belfry‘s dynamic scheduling, integrated payroll, and all-in-one product offering will help security businesses to improve operations and invest in the growth of their businesses.”

Belfry empowers security businesses to overcome their toughest challenges with measurable value delivered through purpose-built features:

• Streamline Back-Office Operations: The industry’s only fully embedded payroll system transforms timesheets into payroll in just three clicks, saving valuable administrative time.
• Optimize Labor Costs: Smart scheduling tools match the right officer to each post, reducing overtime and improving workforce efficiency.
• Demonstrate Accountability to Security Clients: Real-time dashboards and tracking tools offer full visibility into site activities, enabling businesses to showcase ROI and build trust.
• Enhance Employee Satisfaction: Intuitive tools and simplified workflows make it easier for employees to manage their schedules, leading to happier, more productive teams and reduced turnover.

“Belfry has enabled us to work smarter, not harder,” said Jim Houpt, Owner of Merchants Security Service in Dayton, OH. “As a fourth-generation owner, I‘ve seen how outdated systems hold our industry back. Our previous platform was antiquated and frustrating; I avoided using it. Belfry is quick, intuitive, and does everything we need. Since switching, we‘ve been able to smooth out our operational processes, cut overtime in half, and improve profitability. Belfry is a true partner for us and the backbone of our company.”

The platform‘s combination of advanced technology and exceptional customer service has positioned Belfry as the leading choice for forward-thinking security businesses.

For more information about Belfry and its solutions, visit www.belfrysoftware.com.

About Belfry Software

Belfry is a venture-backed technology provider, transforming the way security guard services companies operate. From streamlined payroll and HR to advanced scheduling and security operations, Belfry empowers businesses to work smarter, reduce administrative overhead, and focus on delivering exceptional service. The company is headquartered in New York, NY. Learn more at www.belfrysoftware.com.

About Base10 Partners

Founded by Adeyemi Ajao and TJ Nahigian, Base10 is a San Francisco-based venture capital fund investing in founders who believe purpose is key to profits and in companies that are automating sectors of the Real Economy. This includes heavily investing in Business-in-a-Box companies, which employ a multi-product strategy to consolidate core business operations in one platform that is purpose-built for a particular Real Economy end vertical or sector. Through its program the Advancement Initiative, Base10 donates a portion of profits to underfunded colleges and universities to support financial aid and other key initiatives. Portfolio companies include Notion, Figma, Nubank, Nowports, Motive, Chili Piper, and Popmenu. Connect via base10.vc.

Media Contact
Ellie Tippett
KCPR
[email protected]
415.328.8079

SOURCE Belfry

Lakestar leads round with participation from existing investors Bessemer Venture Partners and 83North

LONDON and NEW YORK, Jan. 22, 2025 — Vertice, the spend optimization platform, today announced $50 million in Series C funding led by Lakestar. This investment brings the total raised to over $100 million. Additional participants include Perpetual Growth and CF Private Equity, alongside existing investors Bessemer Venture Partners and 83North.

This oversubscribed round is the latest milestone in Vertice’s 2.5 year growth journey, exponentially scaling its worldwide revenue and customer base whilst maintaining best in class capital efficiency. The company has grown revenue 13x over the past 2 years. The Series C investment will further accelerate Vertice’s mission to create the go-to unified backbone for modern procurement teams. In 2025, Vertice will open several new regional offices and drive product development by tripling its engineering team. New automated product capabilities and integrations will help enterprise procurement and finance teams improve visibility, streamline processes, reduce costs, and make better decisions.

Procurement teams struggle every day with opaque approval processes, rising prices, compliance threats and a lack of clarity over best pricing. The market’s current response is disparate and disconnected point solutions, including procurement workflow builders, contract negotiation, benchmarking data and SaaS spend optimization. Vertice has seized a recognised leadership position in procuretech by delivering all of this within a single, unified platform.

Vertice offers fully customizable procurement workflows that deliver AI-supported insights into spend optimization, usage and risk management directly within the workflow itself. These insights are based on Vertice’s negotiation experience across $3.4bn of SaaS and cloud spend on behalf of hundreds of enterprise customers globally, plus the unmatched benchmarking data Vertice has on 16,000+ software vendors. Vertice workflows have consistently more than halved purchasing cycles, curtailed maverick spending, while reducing SaaS and cloud costs by as much as 30%.

“We created our own unfair advantage,” commented Roy Tuvey, Founder and CEO at Vertice. “After spending two years perfecting our SaaS and cloud spend optimization, achieving product-market fit and taking market share from established players, we’ve brought all of our data and insights directly into the workflow experience. All employees can now initiate any purchase, quickly, transparently and at the best price, while procurement can fully customize the workflows to their needs and embed granular approvals.”

Vertice’s proposition has been eagerly adopted by hundreds of finance and procurement leaders including the teams at ASML, Euronext, Grant Thornton, and Santander. In the last 12 months, Vertice has significantly grown its enterprise customers in the US, EMEA and APAC – the only spend optimization platform to have significant presence and customer base in all three regions.

Stephen Day, CPO at Kantar and a member of Vertice’s Advisory Board, commented, “The curse and the blessing of procurement is that it is the only business process that any employee could perform – with or without authorization. Control and visibility of every purchase therefore becomes essential, but it can be painfully difficult when data and intelligence is disparate. Unifying these data sources and processes into a single platform that is built with the stakeholder experience in mind, as much as for procurement leaders, solves so many challenges – and is a huge opportunity for Vertice.”

Georgia Watson, Partner at Lakestar, said “Vertice has consistently demonstrated its ability to execute, innovate, and drive key growth metrics year after year, all at scale. We firmly believe there is no organization better positioned to become the unified platform of choice for the modern procurement team.”

Vertice was founded by serial entrepreneurs Roy and Eldar Tuvey. The brothers have two decades of experience running enterprise SaaS companies, most notably founding ScanSafe and Wandera, which exited for $200 million (Cisco) and $400 million (JAMF).

About Vertice:

Vertice is the spend optimization platform enabling businesses to simplify their procurement workflows, gain granular control and visibility of their spend, and realize cost savings of as much as 30%. Vertice manages $3.4 billion in spend worldwide for hundreds of enterprise customers in over 30 countries and is headquartered in London with additional offices in New York, Sydney, Brno and Johannesburg. Learn more at www.vertice.one.

Media contact: [email protected]

About Lakestar

Lakestar is one of the leading pan-European venture capital firms. Lakestar’s mission is to find, fund and grow disruptive businesses that are enabled by technology and founded by exceptional entrepreneurs in Europe and beyond. Founded by Klaus Hommels in 2012, Lakestar manages an aggregated volume of over €2bn across four early stage funds and two growth funds. The team actively advises and supports portfolio companies in marketing, recruitment, technology, product development and regulatory insight, accompanying founders from seed to early stage, growth stage or exit.

Lakestar currently has the privilege of holding investments in Aleph Alpha, Auterion, Blockchain, Builder.ai, Colossyan, GetYourGuide, HomeToGo, IsarAerospace, Neko Health, Revolut, sennder and Terra Quantum to name a few. A long-standing champion for Europe’s digital sovereignty, Lakestar has a presence in London, Berlin and Zurich with a team of 40 talented individuals from 18 countries. Visit us on LinkedIn and our website www.lakestar.com

Photo: https://mma.prnewswire.com/media/2602629/Roy_and_Eldar_Tuvey_Vertice_Founders.jpg
Logo – https://mma.prnewswire.com/media/2603579/Vertice_Logo.jpg

SOURCE Vertice

SEOUL, South Korea, Jan. 21, 2025 — H2, Inc., an industry-leading vanadium flow battery (VFB) developer and manufacturer headquartered in South Korea, successfully raised $16 million in recent bridge funding, finalized in the second half of 2024. This brings the company’s total accumulated funding to $77 million. The round was led by STIC Investments which is one of the largest and a leading private equity firm in Korea, with participation from KRUN Ventures and Lighthouse Combined Investment.

The newly raised capital will be primarily allocated to constructing the company’s new, state-of-the-art K2 Plant. This facility will significantly expand H2’s manufacturing capacity to 1.2 GWh per annum, marking a major milestone in the global flow battery and long-duration energy storage industry. Scheduled to begin operations in 2026, the K2 Plant will triple the current capacity of the K1 Plant, which stands at 330 MWh per year. The company has already secured the land for the K2 Plant to achieve its target annual production capacity as quickly as possible.

The K2 Plant will focus on producing H2’s three flagship VFB products: the EnerFLOW^TM 500 series, optimized for 4-hour energy storage applications, and the EnerFLOW^TM 600 series, engineered for applications lasting 8 hours or more. The EnerFLOW 600 series incorporates H2’s proprietary HYPERSTRUCTURE^TM technology, which significantly reduces system footprint. The first EnerFLOW^TM 640 units are scheduled to be deployed in Spain’s largest 8.8 MWh VFB project, with installation planned for mid-2025. In addition to the EnerFLOW^TM series, the plant will support the mass production of UL-certified, high-performance 5000-series VFB stacks based on H2’s proprietary design. These stacks are a key factor for success in the VFB industry. 

Dr. Shin Han, founder and CEO of H2, Inc. stated, “The successful bridge funding strongly validates H2’s commercial readiness in terms of product quality and mass production capability. The forthcoming K2 Plant will be a pivotal asset, enabling us to meet the growing global demand for sustainable long-duration energy storage solutions that enhance grid resilience and support renewable energy adoption”

SOURCE H2, Inc.

Dr. Lal brings operational, development, and funding expertise to Theromics at a pivotal time as the company prepares to submit its first product for FDA clearance.

WEST BRIDGEWATER, Mass., Jan. 21, 2025 — Theromics Inc., a biotechnology company developing next-generation thermal accelerant technologies for enhanced ablation procedures and more precise and effective drug delivery, today announced the retirement of its Chief Executive Officer, Ron Murphy, and the appointment of Suman Lal, MBBS, PhD, MBA, as his successor. Mr. Murphy will remain with the company in an advisory capacity.

Dr. Lal’s appointment marks a significant step forward for Theromics Inc. as the company moves its lead programs toward commercialization. The company’s proprietary biopolymers offer a unique approach to enhancing the efficacy and safety of minimally invasive procedures, potentially improving patient outcomes and reducing healthcare costs. Theromics Inc. is currently focused on submitting for FDA clearance of its HeatSYNC™ gel for enhanced soft tissue ablation by year-end.

Mr. Murphy served as CEO of Theromics Inc. for five years, guiding the company through significant milestones, including securing an STTR grant and seed funding from the NSF, establishing meaningful developmental partnerships, and completing the first run manufacturing of its commercial-ready HeatSYNC™ product.

“Ron’s leadership has been instrumental in establishing Theromics Inc. as a leader in developing innovative biopolymer technologies. We are deeply grateful for his contributions and are pleased he will continue to advise the company,” said John Brooks III, Board Member. “Suman is joining Theromics at a critical time as the company transitions from development to a commercial-stage company, and I am confident his diverse industry experience will be critical as we enter our next stage of growth.”

Dr. Lal brings extensive experience in the life sciences industry, with a distinguished career spanning both academia and the private sector. His background includes clinical medicine, translational research, and business development in the life sciences. Dr. Lal has strong experience working with major research institutions and universities such as Columbia University, Mayo Clinic, and Cornell University to commercialize inventions in therapeutic areas of neuroscience and oncology. Prior to joining Theromics, he held the position of Senior Advisor to the Cambridge Innovation Center, developing initiatives with multinational corporations and governments focused on building innovation infrastructure and ecosystems.

“I am honored to join Theromics Inc. at this exciting stage of its development,” said Dr. Lal. Theromics’ innovative biopolymer platform has broad applicability and the potential to revolutionize soft tissue ablation and localized drug delivery, addressing significant unmet medical needs. I look forward to working with the talented team at Theromics to advance our pipeline and bring these life-changing therapies to patients.

About Theromics Inc.:

Theromics has developed a nanopolymer platform technology to address the shortcomings of thermal ablation of soft tissue. HeatSYNC™ and CryoSYNC gels are IP-protected, biocompatible, and made of human proteins that facilitate energy transfer in human tissue, allowing for larger and more effective soft tissue ablations to mitigate the current 30% recurrence rate. In addition, the gel can be delivered directly into a tumor and combined ablation with therapeutics to localize the therapy in a controlled fashion and mitigate the systemic side effects of these therapies. We call this new therapy “TACT” – Thermally Activated Combination Therapy.

Contact: Suman Lal
Company Name: Theromics Inc.
Contact Phone Number: +1 (312) 375-9617
Contact E-mail: [email protected]
Website URL: www.theromicsinc.com

SOURCE Theromics Inc.

EP Golf Ventures leads round of funding for Evenplay’s expansion into golf simulators in venues and at-home

ORLANDO, Fla., Jan. 21, 2025 — Evenplay (formerly Skill Money Games) has secured investment from EP Golf Ventures, an investment partnership between the PGA of America and Elysian Park Ventures, the private investment arm affiliated with the Los Angeles Dodgers ownership group. This investment leads the latest investment into Evenplay, increasing the total money raised to over $10M to date.

The PGA of America is working with Evenplay on innovative projects to enhance the experience of off-course golfers, leveraging the patented AI skill-based technology developed. Evenplay’s partners include Topgolf, Full Swing, Swing Suites, Dryvebox, GOLFTEC and SKYTRAK.

In an industry first, Evenplay is working with UNLV’s PGA University Program on a series of Catalyst Projects to show the effect of off-course golf on players of all skill levels. This public/private partnership is investigating how stress and prizing changes golfers’ skill level and practice time. Future studies will explore the effect of golf on sociability (including the epidemic of loneliness) and the efficacy of a variety of sports performance training protocols in high stress situations.

Evenplay will be live at the PGA Show January 21-24 2025 in Orlando, FL, at the Full Swing booth. $1,000 in cash prizes will be given away each day in Closest-to-the-Pin Tournaments at Full Swing.

How Evenplay Works

• Players 18+ years old register for an account at Evenplay.com then step into a golf simulator in venue or at-home
• Evenplay’s technology is equipped with proprietary player recognition technology
• Players get 10 Free Shots to build their Free Play, and they can play against their choice of opponent to win more
• Evenplay’s digital wallet is accessible from any smartphone, for points redemption and enabling fast withdrawals and deposits
• Special promotions include a Hole-in-One bonus up to $10,000, Daily Tournaments and Venue Discounts on Suite Rental and Lessons

What They Said

• EP Golf Ventures Managing Partner Jay Adya: “The golf market has exploded off-course, and Evenplay’s golf tech takes an essential element of on-course golf- Cash Competitions- and brings it to simulators and driving ranges across the country. We are excited to work with them to build out this initiative so that golfers can take advantage of this AI-driven system to get better, have more fun, and maybe win some money along the way.”
• Evenplay Co-Founder/CEO Bryan O’Reilly: “We can’t ask for better and more appropriate partners than the PGA of America and Elysian Park. Their knowledge of the golf and sports industry, and crucial role in building the future, fit perfectly on our Board. Our product and partners will immediately benefit from this investment and, maybe more importantly, the work we are all doing together.”
• Director, PGA of America and UNLV PGA University Program Dr. Christopher Cain: “As hubs for golf and golf innovation, UNLV and Las Vegas are the perfect places to combine the work being done at the PGA and Evenplay. Evenplay is a local company with deep roots in gaming, allowing us to do innovative inter-departmental work with the International Gaming Institute and Sports Innovation Institute. This should unlock behavioral engagement tools for use by golfers and athletes alike. The public-private commitment to academic research ensures innovation grounded in theory that has proven to be revolutionary when done right.”

About Evenplay

Evenplay is a technology company that enables players to win points and money with every swing. Using patented AI, players get fair and fun skill-based challenges on partner systems, starting with golf simulators, and soon on driving ranges and at bowling alleys. Game modes include Solo, With Friends and Tournaments. Evenplay is led by a team of tech, sports and hospitality industry veterans. Sign up at Evenplay.com and find your nearest location to play now.

About EP Golf Ventures

EP Golf Ventures is a strategic investment partnership between the PGA of America and Elysian Park Ventures designed to support innovation in the golf industry and create opportunities for the PGA of America Golf Professional. EP Golf Ventures invests in businesses and entrepreneurs focused on coaching and training; health, wellness and performance science; hospitality; facility management; retail and agriculture.

About Elysian Park Ventures

Elysian Park is a global investment platform dedicated to building the future of sports. Created by the ownership of the Los Angeles Dodgers, Elysian Park invests at the intersection of sports, health, culture, commerce, and technology. Elysian Park works with companies across stages from seed to growth to provide perspective, relationships, capital and exclusive strategic resources including the Trailblazer Venture Studio, Robin, and EP Golf Ventures in partnership with PGA of America, among others. Learn more at elysianpark.ventures.

About the PGA of America

The PGA of America is one of the world’s largest sports organizations, composed of more than 30,000 PGA of America Golf Professionals who love the game, are expert coaches, operators and business leaders, and work daily to drive interest, inclusion and participation in the sport. The PGA of America owns and operates numerous championships and events, including major championships for men, women, seniors and the Ryder Cup, one of the world’s foremost sporting events. For more information, visit PGA.com and follow us on X, formerly known as Twitter, Instagram and Facebook.

About UNLV PGA University Program

Housed within the world-renowned Harrah College of Hospitality, UNLV’s PGA University Program is one of only 16 PGA-accredited college programs in the U.S. and offers a unique opportunity to learn in Las Vegas—one of the top golf cities in the nation and home to nearly 50 notable courses and a myriad of off-course options. Students receive hands-on training through classroom instruction, practical internship experience, community service, and other career development opportunities. Additionally, the program provides students with access to the industry’s best learning tools in the Dwaine Knight Center for Golf Management, a 4,200-square-foot learning center located in the college’s academic facility, Hospitality Hall, which includes a golf simulation, biomechanics, merchandising and club fitting and alteration labs.

SOURCE Evenplay

AUSTIN, Texas, Jan. 21, 2025 — FileCloud, a leading provider of secure content collaboration and data governance solutions, today announced it has secured a strategic growth investment from Level Structured Capital (an affiliate of Level Equity, a preeminent growth equity firm with over $3 billion in assets under management). This funding will enable FileCloud to enhance its go-to-market strategies and further innovate its platform to meet the increasing demand for secure, scalable, and compliance-driven file-sharing solutions.

FileCloud serves customers across 90+ countries, including Fortune 500 companies, from leading healthcare, finance and educational institutions. FileCloud is also the market leader specializing in hyper-secure data governance and content collaboration for public sector and defense industries around the world. Its platform powers over 3 million users and supports organizations in safeguarding sensitive data, ensuring regulatory compliance, and enabling seamless collaboration in a hybrid workforce. Many of the leading Managed and Cloud Service Providers are leveraging FileCloud to deliver branded secure file sharing and collaboration services in an OEM fashion to their customers regionally and world-wide.

“We are thrilled to partner with the team at Level Structured Capital, whose expertise and experience in scaling SaaS companies aligns perfectly with our vision for growth,” said Ray Downes, CEO of FileCloud. “This investment comes at a pivotal time as businesses increasingly prioritize secure and compliant collaboration solutions. With this funding, we will accelerate our platform innovations, expand our market presence, and continue to empower organizations worldwide with best-in-class solutions.”

FileCloud continues to drive investments into its AI-powered data governance and secure collaboration features. Additionally, FileCloud will focus on expanding its partner ecosystem and strengthening its footprint in key markets, including North America, the Middle East, Europe, and Asia.

“FileCloud is exactly the kind of company we seek to partner with—a proven technology that addresses a key customer need, an experienced management team, strong customer and partner relationships, and a scalable business model. We are thrilled to support this business into the next growth phase.” said Barry Osherow, Partner, Level Structured Capital.

About FileCloud:

FileCloud’s platform is uniquely designed to offer end-to-end content collaboration and governance capabilities, allowing enterprises to manage sensitive data with ease while adhering to complex regulatory frameworks such as GDPR, HIPAA, ITAR and more. In addition to its enterprise file sharing solution, FileCloud’s product portfolio also includes Signority (acquired in May 2024), a Canadian-based e-signature and document workflow platform.

For more information about FileCloud and its solutions, please visit www.filecloud.com.

About Level Equity:

Level Equity is a private investment firm focused on providing capital to rapidly growing software and technology-enabled businesses. Level provides long-term capital across all transaction types in support of continued growth. The firm has raised over $3.0 billion in committed capital and has made over 100 investments since its inception.

For more information, visit https://www.levelequity.com/.

For media inquiries, please contact:
Noemi Toth
FileCloud
Phone: 1 (888) 571-6480
Email: [email protected]

SOURCE FileCloud

Partnership to Support Building a Sustainable Railroad Infrastructure with 
Composite Railroad Ties Made from Recycled Plastics

NEW YORK, Jan. 21, 2025 — Sumitomo Corporation (Head Office: Chiyoda-ku, Tokyo; Representative Director, President and Chief Executive Officer: Shingo Ueno), through its subsidiary Sumitomo Corporation of Americas (collectively referred to as the “Sumitomo Corporation Group”), has announced a strategic investment in Evertrak, a U.S.-based manufacturer of composite railroad ties (*1) for the North American railroad industry. This partnership aims to reduce environmental impacts and build a more sustainable railroad infrastructure in North America.

Sustainable Solution Initiatives in the North American Railroad Industry
In High Decay Zones, primarily located in the southeastern United States, heat and high humidity accelerate the early decay of wood railroad ties, posing challenges from both cost and environmental perspectives. To address these issues, the North American railroad industry is increasingly adopting composite railroad ties as a sustainable alternative. Made from recycled plastics and fiberglass, composite ties offer numerous advantages, including superior environmental performance, extended durability, and long-term cost savings. In addition, composite ties are 100% recyclable after use.

Market Overview: North American Railroad and Composite Ties

• Railroad ties replacement demand: ~20 million ties annually
• Composite tie opportunity: ~6 million ties annually (High Decay Zone)

Evertrak: Pioneering Durable and Sustainable Composite Tie Solutions
Founded in 2017 and headquartered in St. Louis, Missouri, Evertrak is a leading manufacturer of composite railroad ties. The company’s flagship product, the “Evertrak 7000,” offers an unparalleled lifespan of over 50 years in High Decay Zones, compared to the average 8-12 years of wood railroad ties. The North American railroad industry has been considering the adoption of composite railroad ties since the early 2000s, but achieving the required cost competitiveness and quality for mass production has been a significant challenge. Evertrak overcame these barriers with the Evertrak 7000, which is now being adopted by Class 1 railroads (*2), offering significant long-term cost and environmental advantages.

Established Initiatives in the North American Railroad Industry and the Background of the Investment
Sumitomo Corporation Group, primarily through its Steel Group, has been instrumental in supporting North American freight railroad infrastructure by exporting rails from Japan and manufacturing and selling tie plates, wheels, and axles in North America. The decision to invest in Evertrak stems from a shared vision to build sustainable railroad infrastructure and the opportunity to create synergies with Sumitomo Corporation Group’s existing businesses. This strategic partnership will enhance Evertrak’s production capacity and accelerate the development of competitive and sustainable product solutions.

Future developments
North American freight railroad is one of the environmentally friendly transportation modes, with low CO2 emissions and the ability to handle long-distance, large-scale transport. Sumitomo Corporation Group is committed to contributing to the development of sustainable railroad infrastructure in the North American railroad industry, the world’s largest railroad freight market, through the provision of railroad products and other solutions.

＜Reference Information＞

 (*1) Primarily manufactured from recycled plastics and fiberglass, these ties are recyclable at the end of their lifecycle, providing a sustainable alternative to wood railroad ties.

(*2) In the North American railroad industry, Class 1 refers to the seven major freight railroad companies operating in the United States, Canada, and Mexico. This classification is established by the U.S. Bureau of Transportation Statistics (STB) based on the annual revenue of railroad companies.

About Sumitomo Corporation
Sumitomo Corporation (TYO: 8053) is an integrated trading company with a strong global network comprising 128 offices in 66 countries and regions. The Sumitomo Corporation Group consists of approximately 900 companies and 80,000 employees on a consolidated basis. The Group’s business activities are spread across the following nine groups: Steel, Automotive, Transportation & Construction Systems, Diverse Urban Development, Media & Digital, Lifestyle Business, Mineral Resources, Chemicals Solutions and Energy Transformation Business. Sumitomo Corporation is committed to creating greater value for society under the corporate message of “Enriching lives and the world,” based on Sumitomo’s business philosophy passed down for over 400 years.

About Sumitomo Corporation of Americas

Sumitomo Corporation of Americas is the largest subsidiary of Sumitomo Corporation, an integrated trading company with a strong global network comprising 128 offices in 66 countries and regions. The Sumitomo Corporation Group consists of approximately 900 companies and nearly 80,000 employees on a consolidated basis. The Group’s business activities are spread across the following nine groups: Steel, Automotive, Transportation & Construction Systems, Diverse Urban Development, Media & Digital, Lifestyle Business, Mineral Resources, Chemicals Solutions and Energy Transformation Business. Sumitomo Corporation is committed to creating greater value for society under the corporate message of “Enriching lives and the world,” based on Sumitomo’s business philosophy passed down for over 400 years. For more information, please refer to our website at www.sumitomocorp.com.

SOURCE Sumitomo Corporation of Americas