PHILADELPHIA, Dec. 3, 2024 — Allyable, a leader in digital accessibility AI platform, and OroCommerce, the provider of a leading B2B e-commerce platform, have announced a strategic partnership to bring cutting-edge accessibility capabilities to enterprise supplier processes.
Allyable and OroCommerce logos
Through this collaboration, Allyable’s innovative digital accessibility technology will be seamlessly integrated into OroCommerce’s platform, used by hundreds of enterprises, including members of the Fortune 100. This integration aims to enhance supplier diversity and streamline compliance with ADA standards, ultimately improving ESG (Environmental, Social, and Governance) rankings for businesses.
By embedding Allyable’s accessibility functionalities directly into OroCommerce’s platform,(Link at the bottom), the partnership will empower enterprises to ensure accessible transactions for all users—suppliers, partners, and employees alike. This collaboration underscores the commitment of both companies to advancing inclusivity, fostering innovation, and driving greater return on investment (ROI) through compliance with global accessibility standards.
Yoav Kutner, CEO of OroCommerce, stated:
“We’ve seen a growing demand for advanced features that support supplier diversity, as enterprises prioritize inclusivity and ESG goals. After an extensive evaluation of the market, we were impressed by Allyable’s simplicity, impact, and proven ROI for enterprises. Their solutions enable organizations to seamlessly design with accessibility in mind, delivering tangible business benefits.”
David Adi, CEO of Allyable, added:
“Partnering with OroCommerce is an exciting opportunity to embed accessibility into the fabric of enterprise supplier processes. OroCommerce’s platform leads the industry in efficiency and innovation, and with Allyable’s technology, we’re ensuring more enterprises can maximize their ROI while maintaining global ADA compliance. This collaboration sets a new standard for accessible and inclusive supplier management systems.”
Together, Allyable and OroCommerce are driving forward the mission to create a more inclusive digital environment, enabling enterprises to meet compliance requirements, enhance supplier diversity, and achieve greater operational success.
About Allyable: Allyable is a leading provider of AI digital accessibility platform that design by industry experts, offering innovative tools that simplify compliance with global accessibility standards. Allyable’s platform empowers businesses to design and maintain accessible digital experiences, improving user engagement and driving measurable ROI.
About OroInc: OroInc is the creator of the leading enterprise-grade supplier management platform, serving organizations worldwide, including Fortune 100 companies. OroInc’s solutions empower businesses to streamline operations, support supplier diversity initiatives, and achieve ESG goals through cutting-edge technology.
NEW YORK, Dec. 3, 2024 — CoachHub, the leading global digital coaching platform, today announced that it has secured a $40 million growth financing facility fromHSBC Innovation Banking UK. This capital injection will enable CoachHub to accelerate its investment in artificial intelligence (AI) and further expand its product offerings. The transaction is a key strategic decision for CoachHub to drive rapid innovation while safeguarding employee equity and promoting long-term value creation.
In aligning with HSBC Innovation Banking UK, CoachHub is collaborating with a financial institution that supports innovators across all life stages. This collaboration is set to advance CoachHub’s reach and impact in a rapidly evolving digital coaching market.
The funding will enable CoachHub to further deliver its vision of integrating cutting-edge technology with a human-centred approach. As these efforts expand, more organizations will be empowered to navigate complex talent development challenges and create meaningful change across diverse teams, boosting productivity and ensuring long-term adaptability.
Matti Niebelschütz, CEO of CoachHub, commented: “AI plays a crucial role in our growth strategy, allowing us to deliver powerful, personalized coaching experiences at scale to meet the evolving needs of our clients. This strategic capital marks a significant milestone as we further our mission to democratize coaching, making it accessible and impactful for people worldwide – especially at a time when support and resilience are critical to navigating change.”
Jean-Laurent Pelissier, Managing Director and Head of Enterprise Software at HSBC Innovation Banking UK, commented: “It’s been a pleasure to provide financing support to CoachHub, enabling the business to drive investment into AI and enhance its product offering. CoachHub’s unique proposition has a positive impact on the development of talent across organizations, and we look forward to supporting the business as it continues to grow and innovate.”
About CoachHub
CoachHub is the leading global digital coaching platform, empowering organizations to create scalable and measurable personalized coaching programs for their entire workforce. CoachHub’s global pool of coaches includes more than 3,500 certified business coaches in 90 countries across six continents with coaching sessions available in over 80 languages. Serving more than 1,000 clients worldwide, CoachHub’s innovative coaching programs are based on proprietary scientific research and development from our Innovation Lab. CoachHub is backed by leading investors including Sofina, SoftBank Vision Fund 2, Molten Ventures, Speedinvest, HV Capital, and Partech. CoachHub is committed to creating a greener future. The company is certified carbon neutral and its environmental management is certified according to ISO14001.
About HSBC Innovation Banking UK
HSBC Innovation Banking provides commercial banking services, expertise and insights to the technology, life science and healthcare, private equity and venture capital industries. HSBC Innovation Banking UK is a subsidiary of HSBC Group, benefiting from its stability, strong credit rating and international reach to help fuel its growth.
Led by AZ-VC, the $4.025M Round Will Support the Addition of Key Hires Like Brock MacLean as CRO, Further Expansion, and Product Development
SCOTTSDALE, Ariz., Dec. 3, 2024 — In Revenue Capital, the first operator-immersive capital firm focused on early-growth investing, today announces it has joined a $4.025 million Series A funding round for Nurture Boss, a rapidly growing company with an advanced AI solution for the multifamily housing sector. Led by AZ-VC and with participation from current investor PHX Ventures, the investment will equip Nurture Boss with the operating capital and expertise necessary to continue its ongoing expansion and product development. It also supports making strategic hires, like the company’s recent addition of Brock MacLean as CRO. Nurture Boss has demonstrated exceptional success propelled by their innovative Virtual Leasing Assistant solution, including best-in-class KPIs including net revenue retention of 117%.
“We were drawn to Nurture Boss for too many reasons to count,” says Justin Gray, co-founder and managing partner of In Revenue Capital. “Not only is it the right product at the right time for a market that’s desperate for efficiency gains, but the founder’s vision and company’s performance to date make us confident they’re going to transform the multifamily housing sector.”
Nurture Boss was founded by Jacob Carter, who has carved out a niche in the industry by providing a solution to the urgent problem of a significant labor shortage amid a booming market. The company’s “AI for Multifamily” solution was created to streamline leasing operations and make the process fully autonomous and much more efficient. In addition, it also dramatically boosts conversions, yielding high ROI and more financial success for customers. By leveraging a proprietary data set, Nurture Boss is quickly distinguishing itself from competitors.
Brock MacLean, an accomplished sales leader with more than 20 years of experience across a range of senior executive roles, is the latest strategic hire that Nurture Boss has made. As SVP of sales at Leonardo247 and former EVP & CRO at LeaseHawk, he has deep expertise and has consistently driven growth, developed high-performing sales teams, and optimized sales strategies. Brock’s extensive understanding of real estate and technology solutions positions him well to lead Nurture Boss’ sales efforts and scale its operations.
“Our vision is to make a better world for renters, residents, and property teams alike,” says Jacob Carter, founder and chief executive officer of Nurture Boss. “With this infusion of funding, the operational expertise that In Revenue Capital has to offer, and the hiring of seasoned team members like Brock, there’s so much possibility on the horizon. We’re looking forward to seeing our software help even more multifamily property management companies lower costs while increasing revenues and occupancy.”
To learn more about In Revenue Capital’s philosophy, and to read the founders’ manifesto, visit In Revenue Capital.
About In Revenue Capital In Revenue Capital was created as a founder-friendly fix to a broken venture capital (VC) system, in which deals work out well in aggregate for financiers but more often poorly for portfolio companies. Coupling capital with rich go-to-market (GTM) expertise in a true value-add model, the firm offers both funding and embedded operators to help founders and their companies grow and succeed. For more information, please visit In Revenue.Capital.
About Nurture Boss Combining modern technology and AI with automated workflows, Nurture Boss is redefining AI for multifamily. Nurture Boss’ AI platform allows apartment owners and operators to convert more prospective renters and retain more residents. From the moment a new lead is generated until a resident is renewing a lease, Nurture Boss offers AI powered solutions to automate and execute every step along the way.
SOURCE In Revenue Capital
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A post on Hacker News led to Recall securing a $1.5M funding round, led by renowned VC Jason Calacanis. Now, Recall is transforming how individuals and businesses consume, organize, and review their knowledge.
AMSTERDAM, Dec. 3, 2024 — Recall (getrecall.ai), helps users summarize, organize, and revisit information. Unlike most AI tools that prioritize efficiency, Recall enhances learning through scientific techniques like active recall and spaced repetition. The journey began with a Hacker News post that attracted its first investment from Splash Capital within just 8 hours. Today, Recall has secured $1.5 million in pre-seed funding led by Jason Calacanis, with participation from Blockchain Founders Capital and Rocket Capital. This will fuel Recall’s mission to bring order to content chaos, transforming how individuals and businesses consume, organize, and retain knowledge.
The Story Behind Recall
South African CEO, Paul Richards, brings a decade of expertise in knowledge graphs in the cybersecurity industry, as one of the first employees at Maltego, seeing it through to exit. Recall was born from frustration with existing tools that required excessive manual effort but failed to connect and resurface knowledge effectively.
He envisioned a self-organizing knowledge graph that would dynamically connect his notes and resurface past content whenever new, related information emerged. So, he built Recall as a side project, but after a year of trying, he failed to gain any traction. The post on Hacker News was Paul’s last resort, and it turned out to be a lifesaver. That first check changed everything. He quit his job, went all in, and brought on CTO Igor Gligorević, a true 10x developer from Novi Sad, to accelerate development.
After a few successful Product Hunt launches, including getting #1 Product of the Month in June, the team got into Jason Calacanis’ accelerator programme. They were voted top startup in their cohort which then led to Jason leading their pre-seed round.
“Our vision is to redefine knowledge management as ‘intelligence management,’ where content consumption is intentional and insightful,” said Recall’s COO, Sankari, who brings over 10 years of startup experience (7 years at Uber and 3 at CloudKitchens).
How Recall works
The web & mobile app organizes information into a personalized knowledge graph, automatically tagging and connecting content based on key entities. There are four main features:
Summarize – Recall summarizes online content from articles, PDFs, and YouTube videos up to 10 hours long.
Categorize – Automatically categorize content using topic-based tags that adapt to the user’s existing taxonomy.
Connect – Content is stored in a knowledge graph, revealing hidden connections and unlocking new insights.
Review – Recall reinforces memory with a spaced repetition quiz, helping users retain content over time.
Product Hunt Launch
Get ready for an exciting new chapter in Recall’s journey! Soon bringing even more utility and powerful insights to its platform. Don’t miss out—follow the Recall team on Product Hunt to be the first to explore the new features.
Recall
Recall is an AI powered personal encyclopedia that enables order amidst the chaos by summarizing, categorizing, and connecting content in a knowledge graph. It is a Delaware C corp, founded in 2022 in Amsterdam, by Paul Richards, a South African fullstack developer with a deep expertise in knowledge graphs in the cyber security industry. Founders: CTO:Igor Gligorevic (Serbian | FS Dev | EPAM) & COO:Sankari Nair (South African | 7 years ex-Uber ).
Top Global Law Firms Explore Wexler to Streamline Document Review in Litigation for Their Most Complex Cases
LONDON, Dec. 3, 2024 — Wexler AI, the AI-powered legal fact intelligence platform, today announced major enhancements driving adoption among leading law firms, including Burges Salmon and a top AmLaw100 firm. Clifford Chance is also exploring the platform for use in its world-leading litigation and dispute resolution practice. Wexler’s platform automates essential fact-checking and intelligence gathering in high-stakes legal disputes, allowing lawyers to focus on more complex and strategic value-driven activities. These advancements follow a $1.4M pre-seed funding round led by Myriad Venture Partners, with support from Entrepreneur First, prominent angel investors at ComplyAdvantage, Moonpig, Tractable, and CreditKudos, fueling Wexler’s growth and mission to redefine litigation worldwide.
Since its launch in April of this year, Wexler AI has processed over one million queries, achieved approximately 2X month-over-month growth, and more than tripled its annual recurring revenue (ARR). Wexler’s advanced platform enables law firms to help manage large caseloads with greater accuracy, reallocating resources from time-intensive manual review to high-value legal strategy. Built by security and privacy experts, the platform uses user-specific encryption keys, masks personal data, and meets ISO 27001, GDPR, and AWS Cloud Security standards.
“Wexler assists lawyers working on the world’s most complex cases. The platform delivers critical, verified facts that legal teams can act on with full confidence,” said Gregory Mostyn, co-founder and CEO of Wexler AI. “With support from Myriad Venture Partners, and Entrepreneur First, and working closely with Burges Salmon and also Clifford Chance, among others, we’re not just transforming how the legal industry tackles the time and efficiencies of fact-finding, but helping our customers generate greater business value for their clients.”
There is significant potential to improve efficiencies in the litigation document review process. Wexler’s AI approach reduces manual work, minimizes risk, and uncovers critical facts faster. Unlike traditional eDiscovery tools that merely organize documents, Wexler is purpose-built for high-stakes dispute resolution, delivering insights with an accuracy matching seasoned litigators.
Central to this is KiM, Wexler’s advanced agent for complex dispute tasks, which produces verified work output directly from case facts, automating steps like drafting, generating court applications, and extracting data from vast document sets. More than a passive tool, Wexler uncovers red flags, suggests follow-ups, and enhances case strategy as an active partner, enabling legal teams to drive efficiency and deliver results on the most challenging cases.
“Wexler is a powerful AI tool that is clearly designed for the types and volumes of work faced in dispute resolution,” said Tom Whittaker, director at Burges Salmon. “It allows us to identify relevant facts and produce useful work in a relatively short time, augmenting the work of our expert teams by providing them with additional methods to achieve their objectives. It has been a pleasure to work with the Wexler team over a number of years to continually improve its functionality to help meet our clients’ and colleagues’ high expectations.
With new funding from Myriad, Wexler is expanding its platform in 2025 including new features such as automated document drafting, advanced fact-checking tools, and streamlined discovery requests. These enhancements will extend Wexler’s impact beyond the legal sector, offering new applications in compliance and HR investigations.
“Wexler AI is redefining fact-finding for legal and investigative work, and we see enormous potential in its unique approach,” said Chris Fisher, founder and managing partner of Myriad Venture Partners. “Their rapid growth and ability to deliver verified, actionable information are transforming how legal teams and other professionals manage complex data. We’re excited to support Wexler’s journey and look forward to their continued momentum and innovation.”
Wexler’s founding team blends deep expertise in AI, law, and business. Gregory Mostyn and Kush Madlani met at Entrepreneur First, united by a vision of creating a category defining applied AI company. Gregory saw the inefficiencies of litigation firsthand when his barrister, then judge father, returned from work with binders piled high to the roof of his office. Kush, a former JP Morgan derivatives trader, began automating workflows with Python before completing a Machine Learning Master’s at UCL and joining Tractable, where he developed fraud-detection models and continuous improvement systems. Kush’s scientific background pairs perfectly with Gregory’s commercial experience as a marketing and sales director to transform dispute resolution.
Wexler AI collaborates with partners across the legal sector, from AM 100 law firms to in-house teams at major enterprises. Interested clients can request a demo at https://www.wexler.ai/.
About Wexler AI Wexler AI tackles the world’s most complex cases by streamlining fact analysis for legal, compliance, eDiscovery, tax, and forensics teams. Trusted by top global law firms, Wexler is redefining fact-finding through a combination of AI and human expertise. For more information, visit https://www.wexler.ai/.
About Myriad Venture Partners Myriad Venture Partners is an early-stage venture firm defining the future of business solutions. Investing in visionary AI, clean technology, and B2B software leaders, Myriad brings decades of expertise and a robust corporate and financial partnership network. By connecting entrepreneurs, corporate partners, industry leaders, and co-investors, Myriad is changing the ways businesses operate, compete, and create value.
SOURCE Myriad Venture Partners
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KNOXVILLE, Tenn., Dec. 2, 2024 — Inhabit, a global leader in property management software solutions, announced a preferred equity investment led by Blackstone Tactical Opportunities (Blackstone) with an additional investment from Greater Sum Ventures (GSV). Blackstone joins GSV as well as existing institutional investors Goldman Sachs, Insight Partners and PSG as shareholders in Inhabit. This increased backing from Blackstone and GSV highlights their support of Inhabit’s growth trajectory and reinforces the company’s potential to drive innovation and improvements in the property management technology industry.
“We are thrilled to welcome Blackstone as part of our investor base,” said Lisa Stinnett, CEO of Inhabit. “This investment represents a tremendous vote of confidence in Inhabit’s potential and positions us to expand our capabilities, elevate customer experience, and drive new levels of success across the residential and vacation property management industries.”
“Since Inhabit’s founding in 2016, GSV has been a proud partner in its journey, and we are excited to continue investing as the company moves to the next level,” said Ross Croley, CEO and Founder of GSV. “This next phase is an exciting opportunity to further support Inhabit’s growth and innovation in the property management industry.”
“We are excited to support Inhabit’s growth journey and innovative approach to property management technology,” said Shary Moalemzadeh, a Senior Managing Director at Blackstone, and Dawn Hu, a Managing Director at Blackstone. “We look forward to investing in Inhabit as they continue to enhance their platform and expand their presence across the industry. Our investment reflects our confidence in Inhabit’s ability to continue delivering excellent solutions in this dynamic space.”
With the backing of Blackstone, GSV’s additional investment, and the continued support of Inhabit’s equity partners, Inhabit is well-positioned to strengthen its product offerings and deliver exceptional technology solutions to property management companies.
Advisors In connection with the transaction, Jefferies LLC and Goldman Sachs & Co. LLC provided financial advisory services to Inhabit. Guggenheim Securities acted as the exclusive financial advisor to Blackstone and GSV.
About Inhabit Inhabit is a global PropTech software company serving the residential and vacation property management industries. Our 1,100+ employees drive strategic partnerships, deliver best-in-class software solutions and services, and foster innovation and collaboration with business leaders and industry experts. To learn more, visit Inhabit.com. Press Inquiries: [email protected]
About Blackstone Tactical Opportunities Tactical Opportunities (Tac Opps) is Blackstone’s opportunistic investment platform. The Tac Opps team invests globally across asset classes, industries and geographies, seeking to identify and execute on attractive, differentiated investment opportunities. As part of the strategy, the team leverages the intellectual capital across Blackstone’s various businesses while continuously optimizing its approach in the face of ever-changing market conditions.
About GSV Greater Sum Ventures (GSV) is an entrepreneurial family office that invests its own capital in middle market software and tech-enabled services companies. With entrepreneurial roots and strong operational and investing experience, GSV works with select independent co-investing partners to build platforms of technology companies that revolutionize the industries they serve. Headquartered in Knoxville, Tennessee, GSV provides access to capital and operational support to midmarket technology firms all over the world. To learn more, visit GreaterSumVentures.com.
Contact: Joshua Phillips EVP Marketing, Inhabit
SOURCE Inhabit
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MCLEAN, Va., Dec. 2, 2024 — Veteran Ventures Capital (VVC), a venture capital firm investing in dual-use national security technology businesses led by veteran entrepreneurs and leaders, today announced a strategic investment in Turion Space (Turion). Turion is at the forefront of solving two of space’s most pressing capability gaps: space domain awareness and non-earth imaging, both critical to maintaining space operations and expanding in-space mobility. Turion solves this through their first-of-its-kind Droid micro-satellites, equipped with advanced sensors to improve space situational awareness and mitigate debris at a fraction of the cost of its competitors. The Droid.001 is currently operational with flight heritage, capturing non-earth images for government and commercial clients. These satellites, in 2024 alone, will have accomplished over 100 imaging missions. The capital raised in this round will be used to expand Turion’s satellite fleet as they prepare to launch their Droid.002, a larger satellite with enhanced imaging capabilities, and the further development of autonomous docking and maneuvering systems that can deorbit defunct satellites and perform in-orbit repairs and inspections.
Turion’s DROID.002 satellite build completed in November 2024. Another critical step in building the foundation of their orbital infrastructure.
Turion’s engineering team proudly standing beside their DROID.002 satellite ahead of launch vehicle integration.
Veteran Ventures Capital invested in Turion’s recently closed and oversubscribed Series A funding round. Turion has raised nearly $20 million in venture capital to date. Its veteran-led team, growing to over 70 employees, including former engineers from SpaceX and other aerospace leaders, is leveraging decades of experience to tackle space’s most pressing challenges.
Turion’s technologies have gained significant traction across national security customers, including a recently awarded $15 million Strategic Financing Increase (STRATFI) program contract from the U.S. Space Force’s SpaceWERX, U.S. Space Force’s innovation arm, in addition to securing a $1.9 million Tactical Funding Increase (TACFI) program contract from SpaceWERX to develop systems capable of engaging uncooperative space objects. Their Droid.001 satellite, launched in June 2023, is a 32-kilogram spacecraft designed to improve space situational awareness, with its data now integrated into the U.S. Space Force’s Unified Data Library. Turion is developing a range of satellites that will perform critical satellite services, including the micro-Droid, set for a demonstration in 2026, which will be equipped with grapplers to capture space debris. Co-funded by NASA, this spacecraft is an essential step toward Turion’s vision of mitigating space debris and ensuring safe satellite operations for its customers.
“Turion Space is developing the google earth for space observation and situational awareness. The capabilities they are building for national security and commercial customers represent the kind of high-impact, dual-use technologies that aligns perfectly with VVC’s mission,” said Derren Burrell, Managing Partner of Veteran Ventures Capital. “Their work in advanced space domain awareness, through a specialization in non-earth imaging, addresses a growing concern for both national security and commercial operators. Their technologies have the potential to transform how we manage space safety, particularly with space becoming more of a contested warfighting domain, making this a critical addition to our portfolio.”
With plans to produce 45 satellites annually by 2027, including the upcoming launch of their Droid Alpha satellite in early 2025, Turion is poised for rapid growth. Their enhanced mobility satellites offer advanced in-orbit capabilities for non-earth imaging, satellite servicing, and debris removal. These developments place Turion at the forefront of the emerging satellite non-earth imaging and servicing markets, projected to grow substantially in the coming years as space becomes increasingly crowded.
“We are excited to partner with Veteran Ventures Capital, precisely because their team and advisors have significant expertise in new space technology and the national security opportunities surrounding it,” said Ryan Westerdahl, Co-founder and CEO of Turion Space. “With their investment, we will further enhance our capabilities and provide innovative solutions for non-earth imaging, space debris removal, and satellite servicing, addressing a critical need for both government and commercial operators.”
About Veteran Ventures Capital Veteran Ventures Capital invests in dual-use national security technologies, focusing on companies led by veteran entrepreneurs and leaders. Committed to advancing U.S. technological superiority, Veteran Ventures Capital provides capital, mentorship, and strategic guidance to high-growth companies serving critical government and commercial markets. VVC’s portfolio includes leading companies in defense, aerospace, cybersecurity, and other sectors essential to national security.
About Turion Space Turion Space is a leader in non-earth imaging, space debris removal, and satellite servicing solutions. The company develops autonomous spacecraft designed to provide high resolution space domain awareness capabilities, deorbit defunct satellites, perform in-orbit inspections, and repair essential assets. Based in Irvine, California, Turion Space is committed to making space safer and more sustainable through advanced technologies that support the future of space exploration and national security.
New strategic advisory arm out of San Francisco bridges international corporations with cutting-edge startups and technology players from Silicon Valley and other global tech hubs
SAN FRANCISCO, Dec. 2, 2024 — Global venture capital firm Cathay Innovation today announced the launch of C.Lab, a new strategic advisory arm dedicated to bridging the world’s leading corporations to open innovation in Silicon Valley and other global tech ecosystems. The open innovation lab is led by Matthieu Soulé and Arnaud Auger, who joined Cathay Innovation from BNP Paribas, where they spent the last decade advising large corporate clients from around the globe on their innovation and business strategies from San Francisco.
C.Lab’s mission is to support corporations in driving new business activities and innovation — for long-term growth, resilience, and the sustainable transformation of their organizations. It aims to help corporate executives shape their innovation strategies, while understanding and navigating the latest technology trends and biggest opportunities across industries.
“In the AI era, the focus has shifted from disruption to transformation, making it mission critical for startups and large corporations to form deeper collaborations,” said Denis Barrier, Co-Founder of Cathay Innovation. “We’ve always taken an ecosystem approach in our venture capital practice, connecting startups to our strategic industry partners for mutual growth and opportunities. C.Lab represents a natural progression, expanding our services and value to corporations — recognizing that both sides of the ecosystem are absolutely essential for true transformation.”
The launch comes as AI continues to reshape industries and traditional business models, with Silicon Valley recognized as the epicenter of this transformation. As the home of large tech giants and the AI capital of the world, attracting $117B of venture capital funding for AI startups since 2014 (three times of all of Europe in the same period per pitchbook data), the San Francisco Bay Area drives innovation crucial for industry competitiveness. As AI advances rapidly, corporations outside this hub face an urgent need to adopt new technologies and best practices or risk falling behind.
C.Lab offers a range of advisory services, including:
Tech Startup & Partner Scouting: identifying key relevant startups or technology players to partner with, invest in, or acquire pending business needs
Strategic Studies : Deep dive on new business opportunities and go-to-market strategies for new products and services
Business Development & Operational Support: immersive experiences testing new technologies, meeting relevant startups and industry players addressing top priorities of executive committees and board members to accelerate and transform their business. The team will also leverage Cathay Innovation’s existing VC platform to operationally catalyze strategic partnerships between corporates and startups
Insight Webcast: executive insights breaking down analysis of key trends and business implications
“Corporations are increasingly looking to transform their organizations with the help of external partners and emerging startups— open innovation, or rather open transformation, is accelerating through partnerships, joint ventures, alliances with peers, minority investments, and M&A,” said Matthieu Soulé, Head of C.Lab at Cathay Innovation. “The challenge comes down to access to the best players and the lack of a holistic view of technology trends beyond the industry in which they operate. With the addition of C.Lab to Cathay’s existing global investment practice, we aim to bridge this gap and be the hub where international corporations meet startups and innovation from Silicon Valley and beyond.”
Based out of Cathay Innovation’s existing San Francisco office, the C.Lab team will work with corporations from Europe, North America, Asia and Latin America in the fields of financial services, healthcare, energy, mobility, real estate, retail, luxury and more. The advisory group complements Cathay Innovation’s multi-stage venture capital practice, which will continue to invest in startups transforming industries and society across the world.
About Cathay Innovation Founded in Paris in 2015, Cathay Innovation is a multistage venture capital firm affiliated with Cathay Capital, investing in founders building transformative businesses across Europe, North America, Asia, Latin America and Africa. Its platform connects founders with investors and its ecosystem of leading Fortune500 corporations to help startups scale and transform industries with consumer to enterprise and AI solutions in commerce, fintech, digital health and mobility/energy. Cathay Innovation now manages over €2.5B AUM with offices in Paris, Berlin, Madrid, San Francisco, Mexico City, Shanghai and Singapore and has invested in over 100 startups including Chime, Pinduoduo, Glovo, Wallbox, Owkin, Ledger, ZenBusiness, Alma, Descartes Underwriting and more.
Lumin Digital raises capital to further accelerate its business growth and continue the Company’s momentum
SAN RAMON, Calif., Dec. 2, 2024 — Lumin Digital, a leading cloud-native digital banking provider, today announced it has raised over $160M in growth equity financing, led by Light Street Capital, NewView Capital, and Partners Group, acting on behalf of its clients.
Lumin Digital plans to leverage the funding to accelerate its strategic growth initiatives, focusing on innovation and driving greater value for financial institutions, their members, and shareholders. This investment underscores the transformative power of digital banking platforms to modernize the industry and deliver always-on, customer-centric experiences.
“This is a powerful endorsement of Lumin Digital’s impact on the industry and enables us to expand our product offerings while preserving our culture of delivering exceptional value to our clients and their members,” said Jeff Chambers, CEO of Lumin Digital. “We are grateful for the support of our investors who share our vision and commitment to transforming the digital banking experience.”
“Lumin Digital’s innovative platform, exceptional leadership, and commitment to delivering outstanding value to clients and their members are redefining the digital banking experience and have set the company apart as a true industry leader,” said Kevin Sullivan, Partner at Light Street Capital. “We are excited to support Lumin Digital’s growth.”
“Lumin Digital’s impressive traction and impactful approach to digital banking have positioned it as a true leader in the financial services industry,” said Ankit Sud, Partner at NewView Capital. “We look forward to partnering with Lumin Digital as the company continues to scale and deliver exceptional value to financial institutions and their members.”
“Lumin Digital’s cutting-edge, cloud-native platform is transforming how financial institutions engage with their members, setting a new standard for personalized, seamless digital experiences,” said Sanjay Ravi, Managing Director at Partners Group.
“We are proud to partner with Lumin as the company continues to drive innovation and revolutionize the industry,” added Will Chen, Managing Director at Partners Group.
Velera, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider, remains Lumin Digital’s primary investor.
“From the very beginning, Velera’s board and management have embraced and invested in Lumin Digital’s vision for revolutionizing the digital banking industry,” said Chuck Fagan, CEO of Velera and chairman of Lumin Digital’s Board of Directors. “That investment has exceeded expectations, and we are proud to welcome new growth partners.”
Founded in 2016, Lumin has continued to experience exceptional and intentional growth — repeatedly exceeding its annual financial goals while consistently improving gross margin, operating efficiencies, and net retention. Over the past year, Lumin achieved a revenue growth rate of over 60%. Lumin’s 10-year product and client expansion strategy stays true to its foundational building blocks — great employees, innovative products, exceptional service, and disciplined and predictable growth. With customer centricity at the center of Lumin’s core values, the company is dedicated to driving innovation forward for the success of its clients and their members.
FT Partners served as the exclusive strategic and financial advisor to Lumin Digital on this transaction.
About Lumin Digital Lumin Digital is the leading, future-ready digital banking solution powering remarkable growth for financial institutions across the United States. Combining innovation, data, and speed, Lumin’s disruption-proof platform was born in the cloud to stay ahead of the evolving expectations of retail and business banking users. With Lumin Digital’s unique approach, our clients innovate and scale at their own pace, optimize digital banking ROI, and create a strong digital relationship with their customers. For more information, visit lumindigital.com.
About Light Street Capital Light Street Capital is a global investment firm focused on identifying and investing in disruptive technology businesses across both public and private markets. Headquartered in Palo Alto, Light Street sits at the epicenter of innovation, utilizing its deep network of technology executives and venture capitalists to study emerging trends, identify leading growth companies, and partner with exceptional management teams who are building the next generation of enduring technology businesses. Light Street manages capital across several public fund strategies in addition to its concentrated dedicated private growth investing business. Light Street’s private investments include companies such as Chime, Gitlab, Pinterest, Scale AI, Slack, SmartHR, Toast, Uber and Unity, among others.
About NewView Capital NewView Capital (NVC) is a venture firm dedicated to driving long-term value in the growth stage. With $3 billion in assets under management, NVC tailors capital to the needs of high-potential technology companies and partner investors, investing on a primary, secondary, or hybrid basis. The firm complements flexible funding with the operational impact and trusted connections needed to realize scale. NVC’s portfolio features category-defining companies in fintech, enterprise software, and consumer technology, including Plaid, Modern Treasury, Human Interest, Forter, Apollo.io, and Scopely.
About Partners Group Partners Group is one of the largest firms in the global private markets industry, with around 1,800 professionals and approximately USD 150 billion in overall assets under management. The firm has investment programs and custom mandates spanning private equity, private credit, infrastructure, real estate, and royalties. With its heritage in Switzerland and primary presence in the Americas in Colorado, Partners Group is built differently from the rest of the industry. The firm leverages its differentiated culture and its operationally oriented approach to identify attractive investment themes and to transform businesses and assets into market leaders. For more information, please visit www.partnersgroup.com or follow us on LinkedIn.
About Velera Velera, formerly PSCU/Co-op Solutions, is the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America, operating with velocity to help its clients keep pace with the rapid momentum of change and fuel growth in the new era of financial services. Velera leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers.
About FT Partners Financial Technology Partners’ U.S. Investment Banking business is conducted through FTP Securities LLC, a member of FINRA and SIPC. FTP Securities LLC is a FINRA registered broker dealer (www.finra.org) and member of SIPC (www.sipc.org). FTP Securities LLC does not offer or sell securities to, or carry accounts for, retail customers. FTP Securities LLC does not make a market in any security. These registrations and memberships in no way imply that FINRA or SIPC have endorsed any of the entities, products, or services discussed herein.
SOURCE Lumin Digital
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