DES MOINES, Iowa, Jan. 8, 2025 — Red Rover Health, which enables healthcare providers to integrate “best of breed” third-party solutions into their electronic health record (EHR) systems, has received $4 million in seed funding from NewShore Partners. The latest funding gives Red Rover the capital to hire key talent to expand the core integration platform and scale operations.

“This funding makes sense for us right now for a couple of reasons,” said Red Rover CEO John Orosco. “First, we have an active working solution deployed in numerous production sites, so this isn’t vaporware or an idea on paper. Second, we must take advantage of current momentum in terms of contractual commitments from vendor partners and enterprise deals forthcoming. This capital will help us scale operations, accelerate sales and marketing, and hire more industry rockstars.”

The emergence of world class “best of breed” third-party software solutions, or apps, has driven the need for EHR integration for healthcare providers. Clinicians are demanding real-time access to patient care information but existing integration solutions like HL7 and FHIR do not always meet bi-directional integration needs.

Red Rover’s healthcare integration platform leverages RESTful APIs to seamlessly integrate third-party software apps with designated EHRs. The platform offers “best of breed” software solutions secure and predictable access to health system EHR data. This provides healthcare organizations access to world-class solutions to make the most of their EHR investment.

In addition to providing capital, NewShore Partners intends to act as a strategic partner to Red Rover. “We invest in innovative companies that are bold enough to build solutions for the biggest challenges in healthcare,” said NewShore Director Sowri Krishnan. “Red Rover Health’s platform makes ‘best of breed’ apps available to clinicians without health systems undergoing expensive and resource-draining integration projects that hinder innovation. The end result will be better patient outcomes and reduced costs for hospitals and health systems.”

About Red Rover Health
Red Rover Health, Inc., headquartered in Des Moines, Iowa, is a pioneering healthcare technology company dedicated to simplifying Electronic Health Record (EHR) integration. Powered by secure RESTful APIs, Red Rover’s integration platform enables seamless connectivity between third-party software applications and EHR systems. This innovative platform empowers healthcare organizations to enhance their existing EHR systems with world-class, best-of-breed software solutions. To learn more, visit www.redrover.health.

About NewShore Partners
NewShore Partners is a forward-thinking company dedicated to investing in innovative technology companies. NewShore looks to incubate groundbreaking ideas and help transform them into impactful solutions. NewShore’s focus is on empowering early-stage management teams, helping them scale their businesses, and turning ambitious visions into reality.

Media Contact:
Yancey Casey
Amendola Communications for Red Rover Health
(678) 895-9401
[email protected]

SOURCE Red Rover Health

DURHAM, N.C., Jan. 7, 2025 — Leyline Renewable Capital (“Leyline”), a leading provider of debt capital solutions for renewable energy developers, announced that it has secured additional capital from Keystone National Group (Keystone). Leyline will use the new capital to expand its support of an actionable pipeline of renewable energy projects, sourced from the company’s select network of experienced developers in North America.

John Bills, Partner at PEI, said, “We are proud to be an advisor to Leyline during this exciting time for the company, supporting their mission to accelerate renewable energy development. Leyline’s ability to secure significant follow-on funding from top-tier investors is a testament to their leadership in the sector and their success in delivering strong results for stakeholders. At PEI, we leverage our deep industry expertise and relationships to help clients achieve their strategic goals and drive long-term value in the energy and infrastructure sectors.”

Since inception, Leyline has deployed more than $340 million in financing solutions to advance more than 15 GW of renewable energy projects. Leyline’s proven strategy is to fund both mid and late-stage project development portfolios. The funding supports grid interconnection deposits and equipment down payments. This latest funding will catalyze Leyline’s growth strategy focused on providing private lending opportunities for developers at a speed and scale generally unavailable through traditional channels.

Made up of former developers, Leyline navigates policy and market nuances to support the best infrastructure projects and maximize returns for its investment partners.

Erik Lensch, CEO of Leyline, said, “Our development partners are accelerating their build plans for 2025 in light of soaring demand for new generation in key markets and increased capital needs, as well as potential policy shifts. This renewed support from Keystone enables us to advance the strongest renewable energy projects into construction as soon possible and reflects a major validation of our success in supporting value-aligned projects with strong risk-adjusted returns.”

About Leyline Renewable Capital
Founded in 2016, Leyline Renewable Capital provides flexible financing solutions for renewable energy developers. With deep industry expertise and a commitment to sustainability, Leyline predominantly invests in the pre-construction phase of projects, helping developers scale their operations efficiently and bring more renewable energy online. For more information, please visit: leylinecapital.com. 

About Keystone National Group
Founded in 2006, Keystone National Group is a private credit investment firm focused on asset-centric lending and equipment finance across a wide variety of industries and asset types. For nearly two decades, Keystone has been an active and creative capital provider to thriving companies nationwide. 

About PEI Global Partners
PEI Global Partners Holdings LLC (“PEI”) is an independent, closely held investment bank with offices in New York City, Tampa and Hong Kong, specializing in the power, energy, and infrastructure sectors. PEI advises financial sponsors, developers and corporate clients on mergers and acquisitions, divestitures, financings, private placements, and other strategic transactions. Since its inception in 2022, PEI has completed over 30 transactions raising well over $10 billion for owners and developers of renewable and thermal power. PEI conducts securities transactions through its wholly owned broker-dealer subsidiary PEI Global Partners LLC, which is regulated by the Financial Industry Regulatory Authority (“FINRA”), the Securities and Exchange Commission (“SEC”), the New York State Department of Financial Services and the Florida Office of Financial Regulation. For more information on PEI, please visit www.peigp.com.

SOURCE PEI Global Partners

GRAND JUNCTION, Colo., Jan. 7, 2025 — Pinpoint Search Group, a leading cybersecurity recruitment firm in the U.S., has released its annual report on cybersecurity funding for 2024. The report reveals a 9 percent increase in the total amount of funding raised compared to 2023, indicating that venture capital (VC) funding for cybersecurity vendors is stabilizing.

In 2024, Pinpoint Search Group’s research team recorded 383 transactions in the cybersecurity vendor space, totaling $9.5 billion across 304 funding rounds and 79 M&As. This represents a 9 percent rise in fundraising compared to $8.7 billion in 2023, despite a 12 percent decrease in transaction volume from 346 in the previous year.

The final quarter of the year showcased similar trends. In Q4 2024, the cybersecurity industry secured $1.7 billion in funding, marking a 7 percent increase compared to Q4 2023. The quarter saw a 34 percent dip in transaction volume, from 85 funding rounds in Q4 2023 to 56 rounds in Q4 2024.

The rise in total cybersecurity funding can be attributed in part to an intensifying demand for innovation as threats evolve and grow more difficult to detect. Early-stage initiatives dominated VC investments, with Seed and Series-A rounds making up 59 percent of the total funding volume in 2024. While later-stage funding rounds (such as Growth Funding, Series C, D, and E) only accounted for 16 percent of funding volume, they represented 54 percent of total funding dollars raised, highlighting the significance of larger investments in mature companies.

The signs of VC funding stabilization come after a major decline in funding in 2022, which was influenced by broader economic factors like inflation and rising interest rates. The increased cybersecurity investments in 2024 contrast sharply with overall weak levels of VC funding for the year, and data over the past ten quarters also show that cybersecurity funding levels have been consistent.

“While we can justify an argument that cybersecurity is among the wild west sectors of technology, we are seeing consistent trends materialize,” said Mark Sasson, founder and managing partner at Pinpoint Search Group. “Early-stage vendors dominate funding volume, and quarter-over-quarter funding trends are relatively stable. This has the potential to positively impact investment and business decisions, making security solutions and overall industry performance much more effective.”

For the full, detailed findings of Pinpoint Search Group’s 2024 annual report on cybersecurity funding, please click here.

About Pinpoint Search Group
Pinpoint Search Group is a leading cybersecurity recruitment firm and specializes in filling vice president, director, and senior individual talent. Pinpoint’s collective experience recruiting hundreds of candidates in all segments of cybersecurity provides the company with the credibility to communicate with, qualify, and place professionals in today’s most competitive area of technology. Pinpoint also produces Cybersecurity M&A and Vendor Funding Reports highlighting M&As and funding in the cybersecurity space monthly, quarterly, and annually.

Media Contact:
Christopher Joseph (CJ) Arlotta
CJ Media Solutions, LLC for Pinpoint Search Group
C: 631-572-3019
[email protected]

SOURCE Pinpoint Search Group

NASHVILLE, Tenn., Jan. 7, 2025 — Evergreen Nephrology, a leader in value-based kidney care, today announced it has raised $130 million in capital to expand its care model to more patients living with kidney disease. Funding was led by Rubicon Founders, Oak HC/FT and a group of existing investors, with the addition of K2 HealthVentures. Funding will fuel Evergreen’s growth by enabling its expansion into new regions while implementing advanced technologies to improve clinical outcomes, streamline care delivery, and ease the administrative burden on nephrologists.

With over 37 million Americans living with chronic kidney disease and Medicare spending exceeding $95 billion annually, Evergreen’s value-based care approach addresses a critical need to transform how kidney disease is managed.

“This investment enables us to broaden access to care programs that improve patient outcomes while driving down healthcare costs,” said John Donlan, Chief Executive Officer of Evergreen Nephrology. “We are dedicated to creating lasting, positive change for patients and families affected by chronic kidney disease.”

“The healthcare system has long overlooked the critical need to empower nephrologists in the delivery of advanced kidney care management,” said Matt Kim, Partner at Rubicon and Co-Founder of Evergreen Nephrology. “By equipping nephrologists with the tools, resources, and support they need, Evergreen is bridging a crucial gap in healthcare and enabling a more effective, collaborative approach to managing kidney disease.”

Evergreen Nephrology takes a collaborative approach to kidney care by partnering closely with nephrologists to enhance patient outcomes. The organization offers nephrologists wraparound support through analytical insight and tools, and a dedicated care team for their patients consisting of nurse care managers, care coordinators, social workers, dietitians, and pharmacists. This interdisciplinary model ensures that patients receive holistic and personalized care while enabling nephrologists to focus on their clinical expertise and leadership in managing kidney disease.

Ropes & Gray LLP served as Evergreen’s legal counsel in connection with the transaction.

About Evergreen Nephrology

Evergreen Nephrology partners with nephrologists and payors to redefine kidney care for patients with chronic and end-stage kidney disease. Operating across 24 states with a network of over 900 providers, Evergreen delivers personalized, value-based care designed to empower patients and improve outcomes. Learn more at EvergreenNephrology.com.

Media Contact:
Corporate Communications
Evergreen Nephrology
[email protected]

SOURCE Evergreen Nephrology

The SEEDesign™ company secured significant support from new and returning investors as it seeks to redefine the seed technology landscape

CAMBRIDGE, Mass., Jan. 7, 2025 — Inari, the SEEDesign™ company, today announced the completion of a $144 million fundraise fueled by the performance of its first-generation products and progress toward commercialization. With cumulative equity raised of more than $720 million, the new capital underpins the leading pure-play seed technology company’s financial strength and paves the way for long-term growth.

The fundraise attracted significant support from new investors, who represented most of the capital raised in the round – including a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), and a large financial investor collaborating on forthcoming agriculture projects. Existing investors including Hanwha Impact, NGS Super, the State of Michigan Retirement System and company founder Flagship Pioneering also contributed.

“This round of funding underscores investors’ steadfast confidence in our business and ability to bring truly impactful solutions to market,” said Inari CEO Ponsi Trivisvavet. “Inari is poised to redefine the seed technology landscape as we work to empower the industry with high-performing products on a global scale. In being a true business partner with seed companies, we aim to achieve our vision of a sustainable food system by designing seeds that support a thriving planet, food security and farmer well-being.”

Inari is at the forefront of breeding innovation, combining AI-powered predictive design with an unmatched multiplex gene editing toolbox to deliver step-change outcomes. The company is singularly focused on seed technology for large-acre crops with its first wave of products, and its progress in soybeans, corn and wheat to date is generating excitement from seed companies both within and outside the U.S. The company brings a unique approach to the seed industry by focusing purely on innovation and operating an asset-light business model that reflects the company’s commitment to supporting, not rivaling, its customers.

Flagship Pioneering Managing Partner and Inari Board member Stephen Berenson added: “With its pioneering technology, incredible team and commercial traction, Inari is well poised to create a new paradigm for the seed industry, delivering significant value to seed companies and their farmer customers.”

Visit Inari.com to learn more.

About Inari
Inari, the SEEDesign™ company, develops seeds that address the world’s needs, pushing the boundaries of what is possible for a more sustainable, nature-positive food system. Through a combination of AI-powered predictive design and a pioneered multiplex gene editing toolbox, the company is unlocking the full potential of seed to bring step-change soybean, corn and wheat products to market. Founded by Flagship Pioneering in 2016, Inari is based in Cambridge, Mass., with additional sites in West Lafayette, Ind., and Ghent, Belgium. Inari is a growing team of more than 300 employees working to solve the critical issues of food security and sustainability. To learn more, visit Inari.com.

SOURCE Inari Agriculture

NEW YORK, Jan. 7, 2025 — Citrin Cooperman Advisors LLC (the “Firm”), a premier tax, advisory and accounting provider for private middle market businesses and high net worth individuals, today announced a definitive agreement for a significant investment from private equity funds managed by Blackstone (“Blackstone”). As part of the transaction, Blackstone is acquiring its stake in the Firm from New Mountain Capital LLC (“New Mountain”).

Citrin Cooperman was founded in 1979 with a mission to enhance the businesses and personal lives of its clients, partners, and staff through its services, guidance and enthusiasm for building long-standing relationships. Today, the firm is a trusted advisor to more than 15,000 clients globally through its tax, advisory and accounting services.

Alan Badey, CEO of Citrin Cooperman, said: “We are excited to have reached an agreement for Blackstone to invest in Citrin Cooperman as we enter our next chapter of growth. Blackstone will help us make additional investments in expanded service offerings and technology as we deliver on our continued commitment to best-in-class firm culture and providing an exceptional client experience. We thank New Mountain for their years of partnership in helping to build and support our business.”

Eli Nagler, a Senior Managing Director at Blackstone, and Kelly Wannop, a Managing Director at Blackstone, said: “The Citrin Cooperman partners and staff have done an exceptional job making the firm a leader through an unwavering commitment to excellence and client service. We are excited to invest in the business to help it continue to provide the highest quality offerings moving forward.”

Andre Moura and Nikhil Devulapalli, Managing Directors at New Mountain, said: “We are proud of our successful partnership with Citrin Cooperman, and we thank the management team, partners and staff of Citrin Cooperman for all we have accomplished together over the last three years. We look forward to seeing Citrin Cooperman continue to thrive for the benefit of all its clients and stakeholders.”

Terms of the transaction were not disclosed. Deutsche Bank Securities Inc. is serving as financial adviser, and Kirkland & Ellis LLP and Gibson, Dunn & Crutcher LLP are serving as legal advisers to Blackstone. Guggenheim Securities, LLC is serving as lead financial advisor to New Mountain and Citrin Cooperman, with Koltin Consulting Group serving as an additional financial adviser to both parties. Simpson Thacher & Bartlett LLP, Zukerman Gore Brandeis & Crossman, LLP, and Hunton Andrews Kurth LLP are serving as legal advisers to New Mountain and Citrin Cooperman.

About Citrin Cooperman
Citrin Cooperman, recently named #18 on the “Top 100 Firms” list by Accounting Today, is one of the nation’s largest professional services firms. Built on the values of close relationships, integrity, and a genuine passion for client service, Citrin Cooperman combines deep industry expertise, diversified service portfolio and national reach with a down-to-earth people-first approach in servicing clients. “Citrin Cooperman” is the brand under which Citrin Cooperman & Company, LLP, and Citrin Cooperman Advisors LLC serve clients’ business needs in an alternative practice structure in accordance with the AICPA’s Code of Professional Conduct and applicable law, regulations, and professional standards. Citrin Cooperman & Company, LLP, a licensed independent CPA firm, provides attest services and Citrin Cooperman Advisors LLC provides business advisory and nonattest services. The entities include more than 450 partners and 2,800 total professionals. Learn more about Citrin Cooperman at www.citrincooperman.com.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1.1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram. 

About New Mountain Capital
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit and net lease investment strategies with approximately $55 billion in assets under management. New Mountain Capital seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit www.newmountaincapital.com.

SOURCE Citrin Cooperman

Funding will continue supporting VAPOR 2 pivotal clinical study and U.S. commercialization of Vanquish Water Vapor Ablation proprietary prostate cancer treatment

MINNEAPOLIS, Jan. 7, 2025 — Francis Medical, Inc., a privately-held medical device company developing an innovative and proprietary water vapor ablation therapy for the treatment of prostate, kidney and bladder cancer, today announced the completion of the company’s oversubscribed $80 million Series C equity financing, the largest fundraising round to date for the company.

Arboretum Ventures and Solas BioVentures co-led the Series C round. New investors Orlando Health Ventures and two additional strategic partners joined this round, along with previous investors Coloplast A/S and Tonkawa. The Series C proceeds will continue to fund the VAPOR 2 pivotal clinical study for the management of prostate cancer and the development and U.S. commercialization of its Vanquish Water Vapor Ablation proprietary prostate cancer treatment, expected by the end of 2025.

“We’re extremely proud to be joining this funding round and investing in Francis Medical’s development of a groundbreaking, disruptive therapeutic solution to treat prostate cancer,” said David Strong, president and CEO of Orlando Health. “Vanquish is an innovative therapy that has the potential to revolutionize the way prostate cancer is treated, by safely and effectively ablating the cancerous tissue while minimizing or eliminating thermal damage to the nerves and surrounding prostate tissue, thus reducing adverse events associated with radical prostatectomy and radiation therapies.”  

The VAPOR 2 study is a prospective, multicenter, single-arm study that is evaluating the safety and efficacy of the Vanquish Water Vapor Ablation System for prostate cancer. Data gathered from the VAPOR 2 study will support 510(k) clearance, which the company expects to file for in July 2025. Previously, the company was awarded FDA Breakthrough Device status for Vanquish on the strength of its VAPOR 1 Early Feasibility Study, published in the Journal of Endocrinology in November 2022. The VAPOR 1 study reported no serious adverse events, no device-related adverse events, and no unanticipated adverse device effects as its primary endpoint. In 87% of patients treated, six-month biopsy results indicated no remaining Gleason Grade Group 2 or greater clinically significant disease in the targeted treatment areas.

As the second most common cancer in U.S. men, the American Cancer Society estimates 1 in 8 American men will be diagnosed with prostate cancer during their lifetime. Prostate cancer is a serious disease often treated with therapies that cause complications, such as urinary incontinence and erectile dysfunction. Francis Medical’s Vanquish device’s thermal water vapor energy technology is a breakthrough therapy designed to use phase shift energy stored in sterile water vapor to convectively transfer thermal energy to cancerous tissue, causing cell death. Through this process, damage to surrounding structures can be minimized or eliminated by respecting the prostate’s natural boundaries. Vanquish aims to be a revolutionary cancer therapy that is tough on cancer yet gentle on patients.

“This milestone is an important step forward in the fight to vanquish prostate cancer,” said Michael Kujak, president and CEO of Francis Medical. “We are excited to be bringing this therapy to the U.S. market in late 2025 and are incredibly grateful to our investor partners for their dedication to making a meaningful difference in the lives of prostate cancer patients and are more confident than ever that this groundbreaking technology will ultimately become the first-line treatment of choice for men and their doctors.”

About Francis Medical
Francis Medical is committed to developing urological cancer treatments that are tough on cancer and gentle on patients, with a compassionate belief that minimally invasive therapies can effectively treat cancerous tissue. The inventor, Michael Hoey, founded Francis Medical as a tribute to and legacy of his father, Francis Hoey, who endured prostate cancer treatments that had harsh implications on his everyday life before he died from the disease in 1991. Unfortunately, current prostate cancer treatments, which come with side effects like urinary incontinence and erectile dysfunction, are not much different than what Francis Hoey encountered. In contrast, water vapor technology applies the thermal energy stored in sterile water vapor to treat cancerous tissue via a simple transurethral procedure, potentially minimizing life-altering side effects. For more information on Francis Medical, visit www.francismedical.com or call (763) 951-0370.

Vanquish Water Vapor Ablation System is currently an investigational device for treating prostate cancer.

Contact:  Michael Kujak, CEO
612-910-9790
Shelli Lissick, Bellmont Partners
651-276-6922

SOURCE Francis Medical, Inc.

NEW YORK, Jan. 7, 2025 — Bregal Sagemount (“Sagemount”), a leading growth-focused private equity firm, today announced a minority growth investment from its Basecamp fund, in 360 Advanced, a leading consulting firm focused on cybersecurity and compliance frameworks. Terms of the transaction were not disclosed.

Founded in 2009 and headquartered in St. Petersburg, FL, 360 Advanced specializes in delivering high-quality, client-centric cybersecurity and compliance services. The company offers a suite of audit and attestation services, including SOC, PCI, ISO, HITRUST, FedRAMP, CMMC, HIPAA, among others. With a strong focus on customer satisfaction and a commitment to excellence, 360 Advanced has built a reputation for providing tailored solutions to clients ranging from growth stage to large enterprises across healthcare, financial services, technology, government and business services.

“We are thrilled to partner with 360 Advanced and support their growth journey,” said Zuhair Khan, Co-Head of Bregal Sagemount’s Basecamp fund. “We have a long history of investing in compliance solutions and believe that 360 Advanced’s dedication to delivering high-quality, client-focused, technology-enabled services helps differentiate them in the rapidly growing cybersecurity and compliance market. We look forward to working closely with Dan and the 360 Advanced team to drive continued growth and success.”

Dan Collins, CEO of 360 Advanced, added, “We are incredibly excited to welcome Sagemount as our first strategic investor. This investment will help enable us to accelerate our growth and continue to provide what we believe to be market-leading cybersecurity and compliance services to our clients. Our client-centric and consultative approach has been the cornerstone of our success, and we are confident that this partnership will help us achieve new heights.”

With the completion of this investment, 360 Advanced will operate in an alternative practice structure.  360 Advanced Cybersecurity, LLC will provide advisory and non-attest services while 360 Advanced, Inc., an independently owned licensed CPA firm, will provide attest services.

Goodwin Procter LLP and Vedder Price PC served as legal counsel for Sagemount, and Hunton Andrews Kurth, and Shumaker, Loop, and Kendrick served as legal counsel for 360 Advanced. DC Advisory served as financial advisor to 360 Advanced.

About Sagemount

Bregal Sagemount is a leading growth-focused private capital firm with more than $7.5 billion of cumulative capital raised. The firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount has invested in 75 companies in a variety of sectors, including software, information / data services, financial technology & financial services, digital infrastructure, healthcare IT, and business & consumer services. The firm has offices in New York, Palo Alto, and Dallas. For more information, visit the Sagemount website: www.sagemount.com or follow us on LinkedIn. 

About 360 Advanced

360 Advanced is a relationship-focused cybersecurity and compliance firm that provides tailored solutions to meet the needs of both organizations and their clients. The firm’s seasoned professionals take a hands-on approach to develop personalized roadmaps, guiding clients through their security and compliance journeys while delivering measurable results. They help open doors to new opportunities and support the retention of valuable business relationships.

As a licensed PCI Qualified Security Assessor (QSA), ISO Certification Body, HITRUST CSF Assessor, and State/FedRAMP 3PAO, 360 Advanced offers a wide range of services, including the SOC Suite (SOC 1, SOC 2, SOC 3) through 360 Advanced, Inc., an independent CPA firm. Additionally, they are credentialed to support various security and privacy frameworks. The 360 Cyber team specializes in services such as penetration testing, vulnerability assessments, risk evaluations, remediation, GRC administration, and advisory services to strengthen clients’ cybersecurity posture.

360 Advanced is headquartered in St. Petersburg, Florida.  For more information, visit www.360Advanced.com or follow us on LinkedIn.

SOURCE 360 Advanced

Fazeshift looks to streamline and automate manual processes with AI agents

SAN FRANCISCO, Jan. 7, 2025 — Fazeshift, an AI agent for Accounts Receivable, raised $4M in seed funding led by Gradient, Google’s early-stage AI fund. The round also included investment from Y Combinator, Wayfinder, Pioneer Fund, Ritual Capital, Phoenix Fund, and prominent angels including Terrence Rohan, Kulveer Taggar, and Rich Aberman.

Enterprises waste over $200 billion annually managing accounts receivable (AR), bogged down by manual tasks like reconciling payments, generating invoices, and chasing overdue accounts. Fazeshift streamlines this process by automating everything from invoice creation to payment reconciliation, freeing teams from hours of manual work.

Unlike traditional robotic process automation (RPA), which struggles to understand the nuances of AR, Fazeshift’s LLM-powered approach handles complex workflows with ease. Fazeshift’s use of highly specialized LLM prompts tuned to each specific task, allows it to achieve the accuracy and flexibility required for enterprise-grade operations.

“We are seeing AI agents that can reason, perform human-like tasks, and do so with the nuance required for these more sensitive business applications. Eventually we’re going to see all tedious and manual back-office tasks be eliminated. The opportunity for transformation in AR is massive, and this funding allows us to accelerate our product development and customer acquisition efforts,” said Caitlin Leksana, CEO and Co-Founder of Fazeshift.

Fazeshift’s AI agents don’t just answer questions – they can handle complex billing workflows, send customer emails, and even update accounting records. They do this by manipulating the same software tools that human teams previously used. Fazeshift has proven that AI agents can penetrate even the most sensitive business processes.

“The B2B payments stack is being completely reinvented since AI agents have become more mainstream. Finance teams at companies large and small typically struggle with monthly reconciliation and collecting overdue invoices. These finance processes are typically manual and tedious,” said Darian Shirazi, Managing Partner at Gradient. “We’re excited to partner with the Fazeshift team as they streamline finance processes while still giving significant customization and visibility to finance operations teams.”

Fazeshift is already working with several large enterprise customers and automating workflows that previously required teams of 12 people. As the AR space becomes increasingly complex, Fazeshift is positioning itself as the go-to solution for enterprises looking to streamline their AR process.

About Fazeshift
Fazeshift is an AI agent for Accounts Receivable. With Fazeshift, companies can automate their entire accounts receivable process across their existing tools, helping them save time and money, while improving cash flow. Fazeshift is backed by leading investors including Y Combinator and Gradient, Google’s early-stage AI fund. For more information, visit https://fazeshift.com.

About Gradient
Gradient has been investing at the forefront of artificial intelligence since 2017. We are led by former founders, technical experts, and domain specialists who have supported hundreds of AI founders from the beginning. Gradient is headquartered in San Francisco. For more information, visit www.gradient.com.

SOURCE Fazeshift