Ismat Duckson Aziz, Chief Administrative Officer at Kemper Corporation, Joins the Board

CHICAGO, Nov. 14, 2024 — Homethrive, the leading provider of technology-enabled caregiving solutions, today announced the successful close of its latest funding round, raising over $20 million and appointing Ismat Duckson Aziz to its Board of Directors. TELUS Global Ventures and 7Wire Ventures led the funding round, with participation from Pitango HealthTech, Human Capital, Outcomes Collective Growth Capital, Allianz, The K Fund, and other family offices. Homethrive has grown by 4x since its last funding round in 2022, fueled by the increasing demand for comprehensive caregiving solutions among employers and health plans. 

Homethrive will use the capital to expand its end-to-end caregiving platform, focusing on personalized caregiving support and scaling its AI-driven care navigation and recommendations. This funding will also allow Homethrive to bolster its offerings for various payer populations and enhance its digital tools to further increase engagement.

“Over the past six years, we’ve built a platform that addresses one of the fastest-growing challenges in healthcare,” said Dave Jacobs, co-founder and Co-CEO of Homethrive. “We’re seeing tremendous momentum in the caregiving space, as more HR leaders and insurance plans prioritize caregiving support for their employees and members. Our platform delivers scalable solutions to the wide range of problems caregivers face today.”

A major factor in Homethrive’s growth is its ability to serve organizations with an industry-leading 8.4% utilization rate—a testament to the platform’s effectiveness. David Greenberg, co-founder and Co-CEO, noted, “We know caregiving doesn’t just happen from 9 to 5. That’s why we’ve invested heavily in enhancing our digital platform, which now provides AI-powered care navigation and guidance, while offering a seamless end-to-end offering, giving caregivers the support they need anytime, anywhere.”

By supporting working caregivers around the clock, Homethrive helps employers reduce turnover by 80%, saves working caregivers an average of 16.4+ hours per month, and has shown a 17% increase in plan retention on the payor side. This not only enhances caregiver productivity and well-being but also creates significant savings for employers by reducing burnout and improving employee retention.

“We’ve been impressed by the significant traction Homethrive has achieved,” said Terry Doyle, Managing Partner at TELUS Global Ventures. “Their unique platform is empowering caregivers, providing them much-needed support, and allowing their loved ones to age in place while adding value to employers and payers alike. We’re excited to invest in Homethrive to accelerate their growth and establish their presence in Canada.”

Ismat Duckson Aziz named to board of directors

Homethrive also announced the addition of Ismat Duckson Aziz to its board of directors. Aziz, the Chief Administrative Officer, and former Chief Human Resources Officer, at Kemper Corporation, brings over 25 years of human capital strategy experience, having also held senior roles at US Bank and Sprint. Her leadership and expertise will be key in driving Homethrive’s mission forward. “Ismat’s deep experience will be invaluable as we continue to scale our solutions,” said Greenberg.

With significant momentum in the caregiving space, strong investor backing, and the addition of Ismat Duckson Aziz to its board, Homethrive is well-positioned to continue leading the transformation of caregiving, providing much-needed support to families, employees, and employers alike.

About Homethrive

Homethrive is transforming the way we care by offering working caregivers the support they need and deserve to balance work, life, and caregiving responsibilities. Through their high-touch/high-tech platform, caregivers can access 24/7 on-demand resources and live, one-on-one support from their team of expert Care Guides, social work professionals with years of caregiving experience. This highly personalized approach improves outcomes, lowers costs, and saves valuable time. Homethrive is available nationally and offered primarily as an employee benefit through employers and through select health plans.

SOURCE Homethrive

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UNION, N.J. and RIYADH, Kingdom of Saudi Arabia, Nov. 14, 2024 — Black Buffalo 3D and AM Unique–by Namthaja–have partnered to develop concrete projects in the middle east and execute them using 3D printing technology. Black Buffalo 3D (BB3D) will add its concrete 3D printers (NEXCON) to AM Unique’s fleet, while AM Unique will leverage its expertise in design and 3D printing residential, commercial, and industrial structures as an efficient alternative to traditional building methods.

“Black Buffalo 3D works diligently to partner with companies that have the capabilities needed to bring new technology to the forefront of construction,” said Mike Miceli, CEO of Black Buffalo 3D. “After partnering with Saudi Readymix to localize our construction materials for Saudi Arabia, we began searching for a company that could use our 3D printing technology to the fullest extent possible. AM Unique quickly became our first choice, with its vast experience in additive manufacturing and its ability to complete projects that showcase both form and function. We look forward to training its construction team and beginning our collaboration on projects in Saudi Arabia.”

Black Buffalo 3D became the first company in the world to meet ICC-ES AC509 criteria for 3D printing of structural concrete walls after years of investment and testing its machines, materials, and wall assemblies. This internationally-recognized building criteria is accepted in more than 55 countries, and additional regions model their local building codes after it. BB3D’s NEXCON printer and its proprietary materials were also the first in the world to print owner-occupied homes that relied on the printed shell as the load-bearing element supporting the roof, without needing additional vertical reinforcement or grout fill. The company plans to immediately regionalize its proprietary materials and work with AM Unique and its existing partner Saudi Readymix on regionalizing their technology and methods of construction.

“Black Buffalo 3D was introduced through a trusted partner. We have dedicated significant efforts to evaluate and identify key players in 3D construction to support the scaling of this technology within our country. Black Buffalo 3D’s approach to testing and promoting repeatable processes for building made them one of our top choices,” said Yousef Alsughayir, CEO of AM Unique. “Our team looks forward to using our design expertise to print unique structures and elements, and working closely alongside Black Buffalo 3D to change the landscape of construction in Saudi Arabia.”

The partnership between AM Unique and Black Buffalo 3D is focused on execution of large-scale building and construction projects. Structural 3D printing offers a safer, more sustainable, and efficient building method over traditional. This partnership will emphasize the potential of 3D construction printing, focusing on residences, buildings, and industrial projects that elevate form and function from the ground up.

Contact Black Buffalo 3D or contact the team at AM Unique for additional details.

Follow along @AMUniqueSA and @Black_Buffalo_3D on Linkedin and Instagram for live updates and livestreams.

About Black Buffalo 3D Corporation

Black Buffalo 3D Corporation (https://www.bb3d.io) is poised to revolutionize construction and lead standardization and global innovation of 3D construction printers (3DCP), proprietary construction “ink” and 3D print construction consulting services. BB3D became the first 3D construction provider to meet ICC-ES AC509, giving its clients the ability to 3D-print structural walls on demand. NEXCON Printers 3D-print code-compliant homes, buildings and infrastructure on demand for both onsite and offsite construction. Black Buffalo 3D received the Global Innovation Award from NAHB for its leadership in testing and standardization in 3D construction and its Planitop 3D NA ink received Experts pick for Innovative Product from World of Concrete. For more information and for contacts, visit www.bb3d.io.

About AM Unique

AM Unique (https://am-unique.com) is a Saudi visionary large-scale 3D printing enterprise born under the wings of Namthaja Company. Since 2015, we specialize in creating custom solutions that push the boundaries of innovation using advanced 3D printing technology. Our focus is on digitizing the manufacturing process and mass customization and crafting unique, creative, and complex designs by leveraging the power of 3D printing technology.

Media Contact:
Peter Cooperman, Black Buffalo 3D
(646)491-9860
[email protected]

SOURCE Black Buffalo 3D Corporation

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Deal backed by Achieve Acceleration Loans brings total securitization volume of Achieve assets to over $6.4 billion

SAN MATEO, Calif., Nov. 14, 2024 — Achieve, the leader in digital personal finance, announces the Nov. 7 close of a AAA-rated securitization comprised of approximately $186.4 million in rated notes backed by Achieve Acceleration Loans.

The securitization, ACHV ABS Trust 2024-3AL, includes five classes of rated notes and is backed by 13,299 unsecured consumer personal loans. The deal is jointly sponsored by Achieve and Nelnet. ACHV ABS Trust 2024-3AL is the 11th securitization of Achieve personal loans to receive a AAA rating from DBRS and the 13th to receive a AAA rating from Kroll Bond Rating Agency (KBRA).

Achieve Acceleration Loans are an invitation-only product offered exclusively to members of Achieve’s debt relief program and those of certain other legal services providers who have been enrolled for at least six months and have made timely payments into their dedicated accounts during that time.

“Achieve Acceleration Loans help consumers get a fresh start by speeding up the process of consolidating and resolving existing debt,” said Achieve Co-Founder and Co-CEO Andrew Housser. “Borrowers appreciate the opportunity to use these loans to complete their debt relief program early and investors continue to show strong demand for our differentiated assets.”

Achieve Acceleration Loans are fully amortizing, unsecured consumer loans with original balances ranging from $2,500–$75,000, original terms of one to six years, and a fixed interest rate between 23.90% and 26.90%. Underwriting for the Achieve Acceleration Loan program is based on proprietary algorithms that evaluate behavioral, transactional, employment and income data, as well as a manual review of borrowers’ creditworthiness. The loans are originated by a bank partner on the Achieve Personal Loans platform.

The Class A, Class B, Class C, Class D and Class E fixed-rate notes were rated AAA (sf), AA- (sf), A- (sf), BBB- (sf) and BB- (sf), respectively, by KBRA. The Class A, Class B and Class C fixed-rate notes were rated AAA (sf), AA (low) (sf) and A (low) (sf), respectively, by DBRS. The Class D and Class E notes were not rated by DBRS. The transaction structure features overcollateralization, subordination, a reserve fund and excess spread.

ATLAS SP Partners served as Structuring Agent, Initial Purchaser and Joint Bookrunner. Jefferies served as Initial Purchaser and Joint Bookrunner. Barclays and CRB Securities each served as Rated Notes Initial Purchaser and Joint Bookrunner. Since 2018, Achieve assets have served as collateral in 21 personal loan securitizations and five home equity line of credit securitizations. Cumulative issuances across all Achieve-related securitizations total over $6.4 billion and total loan originations through the Achieve Personal Loans platform and by Achieve Home Loans is over $12.5 billion.

This press release is for informational purposes only and is neither an offer to sell nor the solicitation of an offer to buy the notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“Securities Act”), or the securities laws of any jurisdiction. The notes were offered and sold only to qualified institutional buyers in reliance on Rule 144A under the Securities Act or outside the United States in compliance with Regulation S under the Securities Act.

About Achieve
Achieve, THE digital personal finance company, helps everyday people get on, and stay on, the path to a better financial future. Achieve pairs proprietary data and analytics with personalized support to offer personal loans, home equity loans, debt resolution and debt consolidation, along with financial tips and education and free mobile apps, Achieve MoLO (Money Left Over) and Achieve GOOD™ (Get Out Of Debt). Achieve has 2,500 dedicated teammates across the country with hubs in Arizona, California, Florida and Texas. Achieve is frequently recognized as a Best Place to Work.

Achieve refers to the global organization and may denote one or more affiliates of Achieve Company, including Achieve.com (NMLS ID #138464); Achieve Home Loans, Equal Housing Lender (NMLS ID #1810501); Achieve Personal Loans (NMLS ID #227977); Achieve Resolution (NMLS ID # 1248929) and Freedom Financial Asset Management (CRD #170229).

Contacts
Erica Bigley
Vice President, Corporate Communications
[email protected]
415-710-9006

Austin Kilgore
Director, Corporate Communications
[email protected]
214-908-5097

SOURCE Achieve

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Funding will enable SurePath AI to bring its solutions to a broader market and mitigate risks of GenAI use in the enterprise

DENVER, Nov. 14, 2024 — SurePath AI, a leader in governing generative AI for the enterprise, today announced the successful closure of a $5.2 million seed funding round led by Uncork Capital with significant participation from Operator Collective, bringing the company’s total funding to $6.3 million. SurePath AI’s mission is to enable secure GenAI adoption by detecting usage, mitigating risks, and controlling AI access to enterprise data so that organizations can bolster innovation and productivity.

“As GenAI adoption continues to surge across industries, businesses are challenged to balance the risks and benefits,” said Casey Bleeker, CEO and Founder of SurePath AI. “Our company was built to solve this dilemma, and today, our platform enables the secure adoption of GenAI without hindering innovation. This investment validates our progress and reinforces the opportunities ahead as we work to change how GenAI is addressed in the enterprise.”

SurePath AI gives organizations much-needed visibility and control of GenAI use across public and private models. Its role-based access controls decide what data leaves an organization and which models and data sources end-users can access. As a result, organizations can detect GenAI use at a network level, mitigate the risk of public GenAI services, supervise private models, and control access to context data sources—all through a single policy engine integrated with existing security solutions.

SurePath AI’s key capabilities include:

• Capture, monitor, secure, and route GenAI traffic
• Centrally manage role-based access control policies independent of vendor or solution
• Inject enterprise data and prompt engineering into GenAI use, increasing adoption and productivity

Founded in 2023 when organizations were choosing between blocking or allowing GenAI, SurePath AI’s founders set out to develop a robust platform to remove the complexity of GenAI governance, provide visibility into Shadow AI use, and securely increase GenAI adoption. Shortly after, the SurePath AI platform was successfully launched at AWS re:Inforce 2024.

“We are thrilled to work with Uncork Capital and Operator Collective,” said Randy Birdsall, co-founder of SurePath AI. “This pivotal funding will help to accelerate our growth as we continue to innovate so that companies can securely govern the use of GenAI across their workforce.”

To learn more about SurePath AI’s approach to secure GenAI adoption, please visit surepath.ai.

Supporting Quotes
“As GenAI transforms industries, organizations are also opening themselves to new risks. SurePath AI is one of the pioneers in shaping the future of responsible GenAI adoption in business, and the team has deep domain expertise that they bring to the table. In less than one year, they have achieved key milestones, developing and releasing a robust platform that solves critical business challenges to securing new customers. I look forward to working with the team in their next phase of growth.” – Andy McLoughlin, Managing Partner, Uncork Capital

“SurePath AI is tackling one of the most pressing challenges in enterprise technology today: productive but secure AI adoption across the organization. Casey and Randy’s collective experience in enterprise software in both product and engineering and go-to-market really sets them apart. Their innovative approach to security and compliance at the network level and early customer wins and partnerships are clear indications of SurePath AI’s ability to capture this market. In a fast-moving category, they’re going to be the go-to solution for companies wanting to unleash AI’s potential, with the CISO’s blessing.” – Haley Daiber Brannan, Partner, Operator Collective

“SurePath AI is a game changer for companies who want to leverage the full promise of GenAI, but are concerned about the security of their sensitive internal data. SurePath AI brilliantly uses the network layer to secure any company’s sensitive data and ensure it does not go outside of the company while its employees are using popularly available genAI tools. This is a must have for any forward thinking company who wants to use GenAI in a secure way.” – Julia Chen, Vice President, Partner Core, AWS

About SurePath AI
SurePath AI is the SaaS platform for organizations to adopt and govern GenAI usage across their team. As the first and only solution of its kind, SurePath AI provides comprehensive risk mitigation for public GenAI services, oversight for private models, and control over access to sensitive data sources – all managed through a unified policy engine. SurePath AI easily integrates with existing network security solutions to deliver essential GenAI-specific controls and ensure secure and compliant use throughout your workforce. With SurePath AI, you’ll solve critical GenAI control needs, simplify management, eliminate visibility gaps, and prevent vendor lock-in. Unlock secure and compliant GenAI adoption with SurePath AI.

Media Contact:
Michelle Kearney (Yusupov)
Hi-Touch PR
443-857-9468
[email protected] 

Jurija Metovic
SurePath AI
[email protected]

SOURCE SurePath AI

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TAMPA, Fla., Nov. 13, 2024 — Partsol, a leader in Cognitive AI and developer of the proprietary Absolute Truth algorithms, has successfully closed a $17.5 million funding round. This investment will support the expansion of software and infrastructure and accelerate product development as Partsol redefines traditional due diligence.

Marc Jay Bern, Senior Partner and Founder of Marc Jay Bern & Partners, LLP, stated, “Initially, I was very skeptical of using AI in my legal practice—particularly after early uses were sanctioned because of its unreliability. However, Partsol’s system, which discovers Absolute Truth, has instead performed powerfully for jury selection and discovery, and was a major factor in a recent large win.” Bern continued, “As an investor and client, I am thrilled about Partsol’s potential to transform the legal industry and beyond.”

Partsol’s Cognitive AI technology advances problem-solving capabilities by leveraging an extensive array of analytical methodologies rooted in operational research and over 10,000 mental models. Unlike Generative AI, which replicates human creativity through data generation, Cognitive AI analyzes and cross-references vast datasets to deliver precisely targeted insights that enable sharper, data-driven decision-making. Cognitive AI is the next evolution to Generative AI.

“This capital raise marks a pivotal milestone for Partsol,” said Darryl Williams, CEO of Partsol. “With this infusion of resources, we are positioned to scale our solutions globally, fundamentally reshaping the financial and legal services landscape. Our Absolute Truth algorithms push AI boundaries to provide businesses worldwide with unparalleled precision and insight.”

About Partsol

Partsol, a Partnership Solutions International company, is dedicated to advancing Cognitive AI. Leveraging its proprietary Absolute Truth algorithms, Partsol equips organizations with precise, predictive insights that empower confident, data-informed decisions. To learn more, visit Partsol.com or connect with Partsol on LinkedIn.

Contact
Teresa Salinas Marketing Director
[email protected]
400 N. Ashley Drive, Ste. 300, Tampa, FL

SOURCE Partsol

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Roambee sets a new benchmark in retail logistics by cutting dwell times, boosting stock availability, and increasing supply chain precision with state-of-the-art container tracking.

SANTA CLARA, Calif. and LONDON, Nov. 13, 2024 — Roambee’s supply chain visibility and intelligence platform is enabling the UK retailer Tesco, to work towards achieving a reduction in dwell times and enhanced stock accuracy across 3,000 locations. This advanced solution uses artificial intelligence and has provided Tesco with real-time visibility throughout 23,000+ unique container journeys covering more than 6.21 million miles, spanning its extensive rail and road logistics network.

Previously, Tesco used third-party data to track thousands of their containers across multiple zones, terminals, and stores, but with Roambee’s platform, there is now real-time access to container locations, to verify deliveries, quickly resolve issues, and maintain inventory accuracy. This has significantly improved operational efficiency and helped resolve issues related to missing deliveries.

“Roambee’s platform has allowed us to track and manage our container movements across rail and road much more effectively. We now have more real-time visibility, and don’t need to rely on third-party data to confirm deliveries and track containers. We can trace the location of our shipments at any time, reducing delivery errors and ensuring our stores are stocked efficiently. This real-time insight has allowed us to resolve issues faster, reduce dwell times, and increase stock accuracy across our network,” said Benjamen Smith, Head of Primary, Global and Rail Logistics at Tesco.

Tesco has equipped all its containers in the UK with solar-powered sensors, monitoring groceries and other products being shipped 24/7. With this integration, Tesco has also heightened security on shipments with real-time security signals, including route deviations, delays and unplanned stoppages.

“By achieving this remarkable level of visibility in container movements and improving stock accuracy on cost-effective but less predictable modes like rail, Tesco has set a new standard for supply chain efficiency. We are proud to support them with a technology solution that drives success,” said Sanjay Sharma, CEO of Roambee. “As global supply chains become more interconnected and autonomous, Roambee’s platform positions our customers to lead this transformation, opening new possibilities for growth and resilience.”

Roambee’s platform also integrates with Tesco’s scheduling systems to monitor container movement, arrival, departure times, dwell times, and estimated times of arrival (ETA) across its supply chain. These real-time signals have reduced inefficiencies, eliminating the need for the store to contact multiple departments to track the location of their products, ensuring timely deliveries.

Building on this success, Tesco plans to continue working with Roambee’s real-time visibility technology across different product categories.

For more information about Roambee and its cutting-edge supply chain solutions, visit Roambee.

About Roambee

Roambee is an AI-powered, real-time supply chain visibility & intelligence provider enabling on-time, in-full, in-condition delivery of shipments and assets anywhere in the world. 300+ enterprises are improving customer experience, service levels, product quality, order-to-cash cycles, business efficiencies, sustainability, and automating logistics with Roambee’s real-time insights & foresights. More than 50 of them are the top 100 global companies in the Pharma, Food, Electronics, Chemicals, Automotive, Packaging & Containers, and Logistics sectors. Roambee’s innovative AI-powered platform, and end-to-end monitoring solutions, deliver reliable business signals built on item-level, firsthand IoT sensor data and non-sensor inputs. The outcome is 70% better multimodal ETAs, OTIF deliveries, 80%+ cold chain compliance, and more, including 4X+ ROI on supply chain asset performance. To learn more visit, https://www.roambee.com 

About Tesco

Tesco is a leading retailer, committed to serving customers with affordable, healthy, and sustainable food. With over 330,000 UK colleagues, Tesco aims to make life easier for customers by offering a wide range of products and services, including groceries, clothing, and mobile services. To learn more visit, https://www.tescoplc.com/

Media Contact

Premsai Sainathan
Vice President – Growth & Product Marketing
Roambee Corporation
+1 (408) 461-5221
[email protected]

SOURCE Roambee Corporation

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AI-powered platform enables large employers to discover, recover, and prevent healthcare overspending; Alliant Insurance Services, Mattel among companies using Bluespine

NEW YORK, Nov. 13, 2024 — Bluespine, an AI-driven claims cost reduction platform for self-insured employers, today announced it has raised $7.2 million in a seed funding round led by Team8, with participation from strategic partners, to tackle medical overbilling, which is a symptom of the $300 billion fraud, waste, and abuse (FWA) healthcare crisis. With employer healthcare expenses up 14% over the past two years, Bluespine’s innovative solution helps plan sponsors to lower costs without compromising care, protecting employers from financial leakage and helping them meet their fiduciary obligations.

As much as 80% of medical bills are estimated to contain errors, underscoring the urgent need for innovative solutions in healthcare cost management. Bluespine applies proprietary AI to unlock new capabilities that help self-insured employers identify, recover, and prevent overbilled claims at scale.

Bluespine was co-founded by technology experts with extensive experience in AI, data analytics, cybersecurity, and enterprise solutions. Co-Founder and CEO David Talinovsky brings over 20 years of experience leading global operations servicing Fortune 50 companies. Gal Frishman, Co-Founder and CTO, previously led a unit of 120 researchers and AI experts at IBM, and Yossi Mansano, Co-Founder and VP of R&D, is the former GM of Fortinet in Israel and has over two decades of experience developing deep system architectures to serve Fortune 100 companies. The company was established under Team8’s unique Venture Creation model, led by Team8 Partner Galia Beer-Gabel.

Together, Bluespine’s founders have assembled an early team of subject matter experts with a combined 25 years of experience working with leading US carriers. Bluespine is supported by a group of advisors who are former Benefits executives from Fortune 50 companies and healthcare thought leaders. The funding round will accelerate Bluespine’s adoption by US employers and brokers, and support new roles in research & development.

“Bluespine is revolutionizing how self-insured employers manage their healthcare costs, comply with ERISA regulations, and fulfill their fiduciary duties,” said David Talinovsky, Co-Founder and CEO of Bluespine. “Our goal is to fundamentally transform how companies approach healthcare benefits, leading to better outcomes and reduced costs for self-insured employers and employees.”

Unlike traditional auditing methods, which typically review only 1% of high-cost claims, Bluespine’s proprietary AI analyzes 100% of claims with high precision. Bluespine is the first-of-its kind solution to scan claims using an evidence-based approach that incorporates concepts from the cyber and anti-fraud domains. The platform leverages multiple data sources, including summary plan documents and carrier billing guidelines, to tailor its claims reviews to each employer’s specific health plan designs and coverage terms. Bluespine’s proprietary LLM model is optimized to catch even the most elusive overbilling scenarios.

“Solving the financial dimension of healthcare won’t fix everything, but it can drive efficiencies that ultimately enhance patient care,” said Team8 Managing Partner Rakefet Russak-Aminoach. “Bluespine is initially focused on helping self-insured employers to reduce costs and improve employee well-being, but that’s just the tip of the iceberg. With hundreds of billions lost to medical overbilling across sectors – including fully-insured companies and governments – we see a tremendous opportunity for Bluespine to transform the market.”

In addition to attracting several large employers, such as the leading toy company Mattel and the DavidShield insurance company, Bluespine is partnering with leading brokers, including Alliant Insurance Services, to enhance their capabilities and service offerings.

“After evaluating numerous claims analysis solutions, Bluespine’s AI-powered platform stood out as best-in-class for claims reviews,” said John Byers, Senior VP at Alliant Insurance Services. “We look forward to incorporating their solution into our offering and supporting our clients in addressing unwarranted healthcare expenses.”

About Bluespine 
Bluespine is an AI-driven claims cost reduction solution that empowers self-insured employers to lower annual healthcare spending while mitigating financial and legal risks around plan administration. Founded in 2023 by a team of seasoned technology and cybersecurity experts, Bluespine’s mission is to reduce wasteful healthcare spending and empower companies to better serve their employees’ health needs. Headquartered in Manhattan and backed by industry leaders, Bluespine serves Fortune 500 companies and other large self-insured employers, healthcare brokers, and auditors. For more information about Bluespine and its AI-powered healthcare cost-reduction solution, visit https://www.bluespine.io/. 

About Team8
Team8 is a global Venture-Creation and Venture Capital Fund that creates and invests in companies focusing on Cybersecurity, Data & AI, Fintech, and Digital Health. Team8’s signature Venture-Creation model is designed to identify meaningful problems, create theses on potential solutions, and build and invest in innovative companies that tackle these challenges.

Team8 leverages an in-house multi-disciplinary team of more than 80 company-builders, together with a dedicated community of global C-level executives and thought leaders. Team8 partners with world-class founders and works with them to increase the probability of success via a disciplined, repeatable process from inception through product-market fit, growth, and beyond. Team8’s unique platform brings together specialized expertise across technology, go-to-market, HR, and strategy.

Media Contact:
Joe LoBello
LoBello Communications 
[email protected]
516-902-2694

SOURCE Bluespine

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Firm Concludes Fundraising for Alkali Fund VI, a Closed-End Fund Primarily Pursing Opportunistic Credit Investments

NEW YORK, Nov. 13, 2024 — The D. E. Shaw group, a global investment and technology development firm, announced today that it has raised $1 billion in commitments for D. E. Shaw Alkali Fund VI (“Alkali VI”), a closed-end vehicle that is expected to pursue a multi-strategy investment style and invest primarily in corporate debt, structured credit, synthetic securitizations, and other specialty asset classes. The fund’s investor base includes endowments and foundations, sovereign wealth funds, and pensions plans, among others. External investors who had invested in a previous Alkali vintage contributed more than $500 million of the total, while the firm’s entities, principals, employees, and other investment funds contributed more than $70 million of the total.

The D. E. Shaw group has invested in private markets for much of its history and launched its first private credit fund in 2008. The Alkali Series, launched in 2012, is a family of closed-end, intermediate-duration investment funds that pursue a multi-strategy approach and focus primarily on less-liquid opportunities in credit, credit-related, and other markets. The closing of Alkali VI brings aggregate commitments across the Alkali funds to approximately $3.9 billion.

“We appreciate the continued support from our investors for our private fund offerings and are enthusiastic about the opportunity set we see for Alkali VI,” said Edwin Jager, Managing Director and Executive Committee member. Mr. Jager oversees the D. E. Shaw group’s Fundamental Equities, Asset-Backed Strategies, Convertible Securities, Corporate Credit, and Private Credit investment units, which collectively deploy capital across public and private equity and credit markets.

Alkali VI is overseen by the D. E. Shaw group’s Private Credit investment team, in close collaboration with the firm’s other credit-oriented investment teams. In total, these teams consist of approximately 200 investment, technology, data analysis, and research professionals. Managing Directors Rich McKinney, Marianna Fassinotti, and Seth Charnow are co-portfolio managers for the fund.

“We expect Alkali VI will benefit from the depth of our investment teams, our collaboration across asset classes in public and private markets, and our extensive analytical and technological capabilities,” Jager added.

About the D. E. Shaw group

The D. E. Shaw group is a global investment and technology development firm with more than $60 billion in investment capital as of September 1, 2024, and offices in North America, Europe, and Asia. Since our founding in 1988, our firm has earned a reputation for successful investing based on innovation, careful risk management, and the quality and depth of our staff. We have a significant presence in the world’s capital markets, investing in a wide range of companies and financial instruments in both developed and developing economies. For more information, visit deshaw.com.

This press release is provided for the reader’s information only and does not constitute investment advice or convey an offer to sell, or the solicitation of an offer to buy, any securities or other financial products.

Contact: [email protected]

SOURCE D. E. Shaw group

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SAN FRANCISCO, Nov. 13, 2024 — Celesta Capital, a global deep tech venture capital firm, today announced it is welcoming 2013 Nobel Laureate Dr. James Rothman as a Senior Advisor. Dr. Rothman will apply his expertise as a biomedical researcher and executive to support Celesta’s bio-convergence strategy, which invests in companies developing innovative healthcare applications that merge medical science disciplines with technologies such as semiconductors, bioprinting, and AI.

The addition will further bolster Celesta’s biotech ecosystem, leveraging Dr. Rothman’s extensive network, as well as his expertise in research and commercialization. Dr. Rothman was the recipient of the 2013 Nobel Prize in Physiology or Medicine, honored for his discoveries around the transfer of materials among cells, advancing understanding of cellular processes such as release of insulin into the blood and entry of viruses into cells. He currently serves as Chairman of the Yale School of Medicine’s Department of Cell Biology and Director of the Nanobiology Institute on Yale’s West Campus.

“There has never been a more exciting time for researchers and entrepreneurs working to advance human health through technology,” said Rothman. “The companies we are helping to nurture at Celesta are developing innovations with true potential to revolutionize critical areas of healthcare such as diagnostics and drug discovery. Celesta is at the forefront of this space and I’m excited to pair my knowledge of the biotech sector with their deep understanding of emerging technology.”

“Jim is one of the most accomplished medical science researchers in the world and we’re delighted to welcome him to Celesta,” said Celesta Founding Managing Partner Michael Marks. “His expertise will be invaluable to our growing portfolio of bio-convergence companies as they pursue such bold visions to advance healthcare.”

Dr. Rothman will closely advise select Celesta portfolio companies, as well as serving as a Board Director at many. Current Celesta biotech and bio-convergence investments include:

• Alveo Technologies: Alveo is creator of an adaptable multiplex pathogen testing platform able to detect a wide range of pathogens including viruses, bacteria, and fungi. Alveo’s handheld analyzer and cloud-based analysis brings diagnostics out of the lab and into the field for a wide range of human, animal, and environmental applications.
• Magnetic Insight: Magnetic Insight is spearheading Magnetic Particle Imaging, a groundbreaking non-radioactive alternative to nuclear medicine that offers a more economical and sustainable solution for diagnosing cancer and heart disease and can enable entirely new imaging applications.
• Prellis Biologics: Prellis has developed an antibody screening platform which recaptures the human immune system within 3D-printed organoids, enabling the rapid discovery of diverse, high-quality antibodies for next generation therapeutics.

Dr. Rothman previously served as Chief Scientist of General Electric Healthcare. He has also advised leaders at Genentech, Merck & Co., GlaxoSmithKline, and Eli Lilly. Prior to Yale, Rothman served as a professor at Stanford, Princeton, and Columbia universities. He founded and chaired the Department of Cellular Biochemistry and Biophysics at Memorial Sloan-Kettering Cancer Center.

Rothman has received numerous awards and honors in recognition of his work on vesicle trafficking and membrane fusion, including the King Faisal International Prize for Science, the Gairdner Foundation International Award, the Lounsbery Award of the National Academy of Sciences, the Heineken Foundation Prize of the Netherlands Academy of Sciences, the Louisa Gross Horwitz Prize of Columbia University, the Lasker Basic Science Award, and the Kavli Prize in Neuroscience.

About Celesta Capital 

Celesta Capital is a global deep tech venture capital firm. Led by technology industry veterans with decades of investment and operational experience, Celesta Capital has a passion and proven track record for building and scaling global businesses. Founded in 2013, Celesta has a portfolio of more than 100 early-stage technology investments. Learn more at http://celesta.vc.

Media Contact:
Jack Buttacavoli
[email protected] 

SOURCE Celesta Capital

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