Company to expand capabilities and accelerate delivery of emerging technology and software tools in support of global security and commercial missions
WILMINGTON, Del., Sept. 13, 2024 — Second Front Systems (2F), a public-benefit software company focused on enabling the delivery of mission-critical software solutions, today announced the close of its $70 million Series C funding round. The round was led by Salesforce Ventures, with participation from new investors, Battery Ventures, and existing investors, NEA, Moore Strategic Ventures, and Artis Ventures.
“Since Second Front’s beginning, our guiding vision has been to make it easier for commercial technologies to contribute to global security,” said Tyler Sweatt, CEO of Second Front Systems. “This mission still rings true to this day. Our team has proven that we can help remove barriers between commercial software companies and the U.S. government and its allies—to ensure that dollars go further and better capabilities get to mission owners faster. To ensure the best technologies support the most critical customers, we are excited to deepen our partnerships with U.S. and allied governments to power software for the free world.”
2F has an integral role in enhancing the U.S. government’s technological agility, particularly within the Pentagon and DoD, and has recently ramped up its international expansion, highlighted by its partnership with NATO. 2F’s Game Warden deploys commercial and government solutions to classified, air gapped, regulated, and government environments around the world. Game Warden is trusted by leading organizations including Microsoft, Amazon Web Services, Learn to Win, and DEFCON AI. This funding round follows 2F’s recent ranking of #28 on the Silicon Valley Defense Groups’ NATSEC100, where 2F accomplished the second highest jump by a company year over year.
“We are excited to invest in Second Front, one of the defense technology leaders transforming how the United States and its allies gain access to cutting-edge technology,” said Rob Keith, Partner at Salesforce Ventures. “We want the U.S. government to have access to innovative software deployment strategies, and companies like Second Front help bridge the gap between the DoD and technology through their growing platform. We believe this latest funding round will support the company’s continued growth and success.”
Michael Brown, a Battery Ventures general partner, has joined the board as an observer. 2F recently expanded its leadership by appointing Josh Bosquez as CTO, Jason Weiss as CTO-Public Sector, and former U.S. Senator Martha McSally to its board of directors.
About Second Front Systems
Second Front Systems (2F) securely fast-tracks government access to software-as-a-service (SaaS) applications to help build a safer tomorrow. As a DOD-accredited solution for up to and including TOP SECRET and also FedRAMP® In Process, 2F’s Game Warden provides a secure cloud hosting environment to accelerate the delivery of innovative tools and programs. With roots in U.S. Government service, this public-benefit, venture-backed software company is trusted by Government agencies and leading software providers, to empower them to succeed in their contributions to global security. For more information, visit https://secondfront.com/.
SOURCE Second Front Systems
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Series B funding demonstrates growing interest in vision programs and vision care among investors and employers
SAN CARLOS, Calif., Sept. 13, 2024 — XP Health, a company dedicated to modernizing vision care with a digital-first vision care platform, announced today a new $33.2 million Series B infusion of capital.
This round of funding was led by global fintech VC firm QED Investors with other prominent investors including Canvas Ventures, American Family Ventures, HC9 Ventures, Valor Capital Group, and Manchester Story, who were all also part of a $17.1 million Series A round announced in fall 2022.
XP Health has raised a total of more than $55 million. The company offers full replacement vision programs that help reduce employee out of pocket cost, while providing a fresh approach to the vision care experience. Its vision programs cover more than 250,000 people and have seen rapid growth in the last two years since launching its platform, expanding from 30 to over 3000 business customers, including DocuSign, Navistar, Chegg, Sequoia Consulting, and strategic partners like The Guardian Life Insurance Company of America.
“Vision care is an indispensable provision for employee wellbeing, and we are excited to partner with XP Health on building a category leader,” said Victoria Zuo, of QED Investors. “Employees are tired of overpaying for out of pocket costs for vision care. With XP Health, they can now dramatically decrease that expense while enjoying a far superior user experience and product.”
QED Investors’ portfolio has encompassed 225 investments across 19 countries, including 28 unicorns such as Credit Karma, Nubank, Remitly, Flywire, and SoFi, as well as health and benefits companies like Decent, Finch, and EasyHealth.
“We’re proud to raise a substantial round with great terms, despite the tough funding environment, which demonstrates our continued growth and a strong demand from employers and benefit partners for a modern vision care solution,” said Antonio Moraes, CEO and co-founder of XP Health. “With this new investment, we’ll strengthen our competitive advantage by focusing on a best-in-class customer experience that includes reducing traditional employee vision costs by as much as 69 percent, and expanding our production capacity to eventually serve 10 million members.”
According to Moraes, XP Health will invest in R&D to continue expanding its product offering, as well as increase its focus on Generative AI products that will improve the member experience and continue to reduce typical member friction points in vision care, such as reducing the time it takes for appointment scheduling and enhancing the digital shopping experience. In addition, XP Health will deploy the funding to continue expanding its sales and marketing efforts, further empowering employers and distribution partners nationwide.
About QED Investors QED Investors is a global leading venture capital firm based in Alexandria, Va. Founded by Nigel Morris and Frank Rotman in 2007, QED Investors is focused on investing in disruptive financial services companies worldwide. QED Investors is dedicated to building great businesses and uses a unique, hands-on approach that leverages its partners’ decades of entrepreneurial and operational experience, helping companies achieve breakthrough growth. Notable investments include AvidXchange, Betterfly, Bitso, Caribou, ClearScore, Current, Creditas, Credit Karma, Flywire, Kavak, Klarna, Konfio, Loft, Mission Lane, Nubank, QuintoAndar, Remitly, SoFi, Wagestream and Wayflyer.
About XP Health XP Health democratizes access to high-quality, delightful experiences in vision care that double coverage and reduce costs. It is a digital-first vision platform focused on eye exams and eyewear that uses customer-centric design and technology to create a better member experience and improve access. XP Health was founded to combat the often confusing, expensive, and frustrating experiences common with vision care and vision insurance. XP Health was named to Fast Company’s 2021 list of “The World’s Most Innovative Companies,” and over the past year has expanded from 30 to 3000+ customers, including DocuSign, Navistar, Chegg, Sequoia Consulting, and strategic partner Guardian Life Insurance. To learn more visit xphealth.co.
BOSTON, Sept. 13, 2024 — Ledgebrook, the rapidly growing insurtech, is excited to announce the successful completion of a $17M Series B funding round. This opportunistic raise introduces two esteemed Family Offices to the Ledgebrook cap table: Duquesne (who led the round) and The Stephens Group and also included participation from long-term partners Brand Foundry Ventures & American Family Ventures. The capital infusion will allow Ledgebrook to accelerate expansion of current operations & embark on new, innovative projects.
Ledgebrook’s Series B comes quickly on the heels of its $24M Series A announced in March 2024, underscoring investor confidence in the mission to redefine the insurance experience through cutting-edge technology and exceptional customer service.
“We are thrilled to welcome Duquesne Family Office & The Stephens Group into the Ledgebrook family,” said Gage Caligaris, Founder & CEO. “Their commitment to long-term thinking aligns well with our vision for what Ledgebrook can be in the coming decades. It’s a rare opportunity to be able to bring on partners of this caliber and I couldn’t be more excited.”
Ryan Morrow, Managing Director at Stephens Group, commented, “We have been fortunate to get to know Gage over the last year, and it’s clear he has the chance to build the next great insurance platform. The Excess and Surplus market and its brokers are long overdue for better technology to place their most difficult risks, and Ledgebrook is building that exact platform. This investment not only supports Gage and the Ledgebrook team but also reinforces our commitment to fostering innovation in the insurance industry. We are excited to partner with Gage and the Ledgebrook team as they transform the way brokers place E&S policies.”
In conjunction with this funding round, Ledgebrook is also proud to announce the appointment of Anthony Segal-Knowles as its Chief Financial Officer. Most recently of Lazard, Anthony brings a wealth of experience in financial and strategic planning from decades in senior-level roles in the British Treasury & International Monetary Fund making him an invaluable addition to Ledgebrook’s executive team during this exciting period of expansion.
With the support of new investors and the addition of a seasoned CFO, Ledgebrook is well positioned to accelerate growth and achieve its ambitious goals.
Innovators and entrepreneurs take the spotlight in the global investment series that has the potential to make viewers rich.
MIAMI, Sept. 13, 2024 — The hunt is officially on for the groundbreaking series that links entrepreneurs seeking capital with millions of potential investors worldwide, offering viewers a chance to invest, at the pre-IPO stage, in ideas that have the potential to become billion-dollar companies.
Unicorn Hunters is now accepting applications from entrepreneurs around the globe for its Second Season. This is a unique opportunity for emerging growth companies that want to access an exclusive global ecosystem that helps entrepreneurs in reaching their goals, collaborating with tech giants like Google and Microsoft, as well as regional innovation hubs.
If you are an entrepreneur with a billion-dollar potential company, the producers of Unicorn Hunters want to hear from you! Visit UnicornHunters.com to register to be considered for Season 2.
These start-ups will have the opportunity to pitch their business ideas to our panel of experts. They assess each company’s potential and scrutinize its founders with rigorous questions, enabling millions of viewers to form their own conclusions and invest wisely. This has led many to consider it one of the few shows that offers a genuine portrayal of entrepreneurship and the role of investors.
The show has featured business titans like Steve Wozniak, co-founder of Apple; Silvina Moschini, the first Latin American woman to build a billion-dollar company; market experts such as Rosie Rios, former Treasurer of the United States; and celebrities like Lance Bass and Chris Diamantopoulos, among others.
With a potential global audience of over 300 million viewers across distribution, the show has featured 17 companies and entrepreneurs from countries such as Ukraine, Israel, Chile, Mexico, Denmark, UK and the United States. These companies span various sectors, including health-tech, bio-tech, sport-tech, climate-tech, fintech, web3 and other disruptive technologies.
Unicorn Hunters can be streamed on UnicornHunters.com, YouTube, LinkedIn, El Colombiano, Claro Video, and on in-flight entertainment systems aboard airlines such as Tap Air Portugal, WestJet, and Etihad Airways, serving millions of passengers across the Middle East, Europe, North America, Asia, Africa, and Australia.
About Unicorn Hunters Unicorn Hunters is a pioneering business show that democratizes access to funding, giving founders the possibility to raise expansion capital from millions of viewers around the world, and giving people the chance to invest in pre-IPO opportunities alongside business luminaries.
Unicorn Hunters, recognized as the most iconic business series of recent times, according to Forbes magazine, is pioneering “enrichtainment” – a brand new genre of television that combines entertainment with investment opportunities that can boost individual wealth. Trailer
AI-powered platform saves businesses 40% by optimizing matching and negotiation with suppliers
SAN FRANCISCO, Sept. 12, 2024 — Cavela officially launches today to revolutionize the way brands and businesses source products, using AI-driven automation to connect them with premium manufacturers worldwide at optimal cost. At the same time, Cavela announced its $2 million funding round led by XYZ Venture Capital, with additional support from Propel Ventures and Go Global Ventures.
Go to cavela.com to get started!
E-commerce tools like Shopify have made selling products easier than ever, but creating those products is still time-, labor-, and capital-intensive, requiring months of work, thousands of messages, and costly factory visits. Cavela solves this with AI agents that automate the steps of finding, negotiating, and coordinating with a network of premium suppliers around the world, reducing the process from 1,000 touch points to just 10 and saving hundreds of hours of work. By allowing them to engage with hundreds of suppliers at once, Cavela enables brands to access better supplier matches, and receive quotes that are, on average, 40% lower than self-sourcing.
“Creating custom products is difficult, but with recent developments in AI, it doesn’t have to be,” says Anthony Sardain, CEO of Cavela. “Large enterprises have dedicated teams to manage the complex process of product sourcing, but small and midsized businesses don’t have that luxury. We’re leveling the playing field, making it easier and more affordable for anyone to create custom products.”
The Cavela team is uniquely positioned to tackle these challenges, drawing on their extensive experience in both procurement and AI technology. The core team has backgrounds at Stripe, Google, Amazon, and Disney. They also have manufacturing and procurement expertise from Primark and DS Smith, have run e-commerce brands, and are broadly international with strong connections to supplier hubs in Asia and Latin America.
Amid the continued boom in e-commerce and increasing pressure to build rapidly adaptable supply chains, modern sourcing solutions are in high demand. Cavela has already demonstrated that its AI can not only outperform conventional sourcing for brands across a wide range of product categories, but also make product sourcing more accessible, enabling even startups to easily source custom merchandise.
“The bottom line is that with Cavela we’re cutting production costs on our core products by 35%,” says Jordan Beaman, Founder of Western Welder Outfitting, a leading workwear brand. “Not only that, Cavela has also made it possible for us to quickly and easily expand our product line beyond our core offering.”
With its recent capital infusion, Cavela is set to enhance the platform’s capabilities and broaden its reach to more businesses. The company is focused on making product sourcing even easier, more transparent, and highly efficient — empowering businesses of all sizes to succeed in a competitive landscape.
“It’s very rare that you come across a team like this one, with a cross section of AI and specific industry experience, capable of remaking that industry — in this case, e-commerce,” says Ross Fubini, Managing Partner of XYZ Venture Capital, which led the round. “Cavela is going to have a huge impact on everyday operations of brands, startups, small companies, and more. But also have a broad, global impact on how products get made and distributed around the world. It’s a magnitude of change on par with the advent of Shopify.”
CAMBRIDGE, Mass., Sept. 12, 2024 — Blitzy, a GenAI company born out of the Harvard Innovation Lab and founded by NVIDIA Serial Inventor Sid Pardeshi and Serial Entrepreneur Brian Elliott, is on a mission to automate end-to-end custom software development. Blitzy’s platform takes the requirements for a new product, runs it through its proprietary orchestration platform, and automates large portions of the software development process, with a goal to achieve full autonomy in the coming years. Blitzy is announcing it is coming out of stealth with $4.4M in initial capital from Link Ventures, Bessemer, Flybridge, NFX, Picus, and Asymmetric.
Blitzy founders Brian Elliott and Sid Pardeshi
Brian, the Co-Founder & CEO shared, “In company-building, the team is everything. We have a strong investor base as part of our broader team. We are now focused on hiring ambitious first-principle software engineers to advance our platform.”
Blitzy is now providing access to its platform to a limited number of enterprises, and interested enterprises should book a meeting through the website for a demo. The company demos have proven entertaining for enterprises, as they take descriptions for product ideas live on the call, and build a comprehensive product for the viewer — from creating design specification documents all the way to deploying the code on GitHub. While this is a fun way to experience the platform capabilities, enterprises have found the deepest value from onboarding existing code bases and enterprise-specific APIs onto a secure instance of the Blitzy platform, which has proven to be a game-changer in accelerating existing development projects.
The code generation space has seen a prolific rise of co-pilots and AI pair programmers; however, Blitzy believes AI code generation in isolation is not a sufficient path. Their autonomous development platform leverages an agentic orchestration framework, highly-curated data sets, and a series of patent-pending inventions to drive its robust, reliable, enterprise-grade software creation process.
Co-Founder & CTO Sid Pardeshi is a former NVIDIA software architect who was awarded the NVIDIA Inventor’s Jacket for his exceptional rate of new AI inventions–he’s filed 27 patents and counting. Brian is a Serial Entrepreneur and West Point graduate, where he studied Systems Engineering with a focus in Simulation Design. The duo met at Harvard Business School, where they built an app together overnight for a local bakery as their first project. This inspired them to radically rethink the software development lifecycle with the use of a new multi-agent orchestration framework.
Boaz Fachler, Principal at Link Ventures who led the deal, shared, “At Link, we’re incredibly active in the Harvard and MIT AI ecosystem, and even amongst this group, we were blown away by the level of innovation and speed of execution from the team at Blitzy.”
Blitzy shared its platform technology is akin to auto-pilot within an airplane. The system requires deliberate, specialized input directions, along with take-off and landing led by a human being. Most of the heavy lifting, however, is completed by the Blitzy platform itself. The team believes it can drive down the timeline and headcount requirements for large, well-defined enterprise software projects by ten-fold. Beyond that,the platform works for both new and existing products. Enterprises have been most excited about the ability to take an existing codebase, back-propagate up-to-date documentation for the product, then add new features through natural language descriptions.
“We are committed to backing visionary leaders and disruptive technologies that have the potential to transform entire industries,” said Matty Mejia-Johnston, Principal at Asymmetric. “Blitzy’s innovative approach to automating the software engineering process represents a paradigm shift in software development. By leveraging AI orchestration and highly curated data sets, Sid Pardeshi and Brian Elliott are not only accelerating the software creation process but also setting new standards for efficiency and quality. We believe in Blitzy’s mission and are excited to support their journey towards autonomy in software engineering.”
The company will use this round of funding to hire additional engineers and grow the company’s presence in Boston and Pune.
To get in touch with the Blitzy team, please book a meeting through the website https://blitzy.com
About Blitzy Blitzy is on a mission to automate custom software creation. Their Blitzy platform aims to drive down the personnel and time requirements to deliver well defined enterprise grade software by ten-fold. The team has over 27 patents and counting and is actively hiring in Boston, MA.
Media Contact : Please reach out to [email protected] for media inquiries.
SOURCE Blitzy
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GRAND CAYMAN, Cayman Islands, Sept. 12, 2024 — Vitreus, the visionary leader in decentralized artificial intelligence (AI) blockchain technology, is thrilled to announce a groundbreaking strategic partnership with GEM Digital Limited (GEM), a digital asset investment firm based in The Bahamas that actively sources, structures and invests in utility tokens listed on over 30 CEXs and DEXs globally. The signing of this agreement marks a significant milestone in Vitreus’ journey as GEM commits to a $15,000,000 USD investment commitment into Vitreus, propelling the company into a new era of growth and innovation.
VITREUS
“We are excited to welcome GEM as our first institutional-grade investor,” said Chad, Founder. “GEM’s commitment to our vision and their substantial investment underscores the potential of Vitreus to shape the future of blockchain technology. With GEM’s expertise and resources, we are poised to expand our reach, accelerate our development, and realize our mission of creating a decentralized, globally connected ecosystem.”
Over the next two years, GEM will engage in ongoing OTC purchases of wVTRS, supporting Vitreus’ growth while ensuring stability within the market. This partnership aligns with the long-term goals of both Vitreus and GEM, ensuring a collaborative approach to driving innovation and expansion within the blockchain industry.
“As we embark on this transformative journey with GEM, we’ll unlock new possibilities, drive innovation, and shape the future of blockchain,” added Chad. “This partnership is not just about investment; it’s about aligning our visions for a decentralized future and working together to make that future a reality.”
The partnership with GEM is a testament to Vitreus’ potential to disrupt the AI revolution. Together, Vitreus and GEM are set to redefine what is possible in the world of decentralized technology.
About Vitreus
Vitreus is a Layer 0 blockchain platform designed to efficiently empower innovation through its unique multi-token economics and Decentralized Physical Infrastructure Network (DePIN). With VTRS and VNRG at its core, Vitreus is building a globally connected, decentralized ecosystem that stands at the forefront of the Web3 industry.
About GEMDigital Limited
GEM Digital Limited, a digital asset investment firm based in The Bahamas, actively sources, structures, globally, the firm actively sources, structures, and invests in utility tokens listed on over 30 CEXs and DEXs globally.
Global Emerging Markets (“GEM”) is a $3.4 billion alternative investment group with offices in Paris, New York, and Bahamas. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 580 transactions in 72 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities and select venture investments.
Investment will support Strider’s rapid revenue growth and accelerate development of its AI-driven strategic intelligence platform; will also enable the company to fuel international expansion and broaden its reach in the public sector
SALT LAKE CITY, Sept. 12, 2024 — Strider Technologies, Inc. the leading provider of strategic intelligence, announced today that it has closed $55 million in Series C funding. With this funding, Strider will continue advancing its AI-driven capabilities into its integrated global intelligence platform, expand operations to new geographies in Europe and Asia, and more aggressively address the public sector market.
“Strider has created a new market category with its groundbreaking global intelligence platform, which empowers organizations to proactively address nation-state threats,” said Blake Modersitzki, Partner at Pelion Venture Partners. “They are solving a massive problem in a massive market, and we are excited to be in business with such visionary founders, building a world-changing company and also doing immense good along the way.”
“At Strider, our mission is to protect the ideals and innovations of the free world,” said Greg Levesque, CEO & Co-founder of Strider. “Organizations across industry, government, and academia are on the frontlines of this new global geopolitical battlefield, under constant attack from nation-state adversaries. This investment led by Pelion will accelerate Strider’s ability to scale our platform and arm more organizations around the world with the strategic intelligence they need to compete.”
The world is in a new era of global intelligence. The traditional nation-state vs nation-state approach is gone as superpowers battle for geopolitical, economic, technological, and data dominance. China, Russia, Iran, and other adversaries are embracing a whole-of-society approach that puts private companies and leading academic institutions on the frontlines of this new conflict.
Fortune 500 companies, government agencies, and the world’s most prominent research institutions are subject to persistent intelligence, talent recruitment, and supply chain operations from nation-state actors.
Strider’s integrated global intelligence platform leverages AI, open source data, and proprietary methodologies. It enables organizations to proactively secure critical assets and inform decision-making so that they can better compete in the global economy.
“Strider is advancing the state-of-the-art in global intelligence, enabling organizations working with advanced technologies to go on offense to secure their innovation,” said Alex Scherbakovsky, General Partner at AVP. “Industry, government, and research institutions have been searching for ways to proactively mitigate state-sponsored threats to technology, talent, and supply networks. We are excited to support Strider’s efforts to develop new capabilities and meet the global demand for its intelligence platform. As a transatlantic investment firm, we are excited to support Strider’s international expansion and help Strider achieve its mission of enabling organizations and governments to secure their innovation.”
Since launching in May 2019, Strider has secured $110 million in venture capital funding, grown to nearly 200 employees, and secured multiple patents, while establishing its position as a first mover and category creator.
About Strider Strider is the leading strategic intelligence company empowering organizations to secure and advance their technology and innovation. Leveraging AI technology alongside proprietary methodologies, Strider transforms publicly available data into critical insights. This increased intelligence enables organizations to proactively address and respond to risks associated with state-sponsored intellectual property theft, targeted talent acquisition, and supply chain vulnerabilities. Strider has operations in 10 countries across the globe with offices in Salt Lake City, Washington, DC, Tokyo, and London.
About Pelion Venture Partners Originally formed in 1986 as Utah Ventures, Pelion Venture Partners has raised over $2 billion across its family of funds. Focused primarily on early stage technology companies, some of Pelion’s more notable investments includeCloudflare,Divvy,Integral Ad Science,Weave, LVT, Kapital, andRedo among others. For more information about Pelion, please visit www.pelionvp.com.
About AVP AVP is a global venture capital firm specializing in high-growth, technology-enabled companies, managing more than $2 billion in assets across four investment strategies: Venture, Growth, Late Growth, and Fund of Funds. Since its establishment in 2016, AVP has invested in more than 60 technology companies in Venture and Growth stages in the US and Europe. With offices in New York, London, and Paris, AVP supports companies in expanding internationally and provides portfolio companies with tailored business development opportunities to further accelerate their growth. For more information about AVP, please visit www.axavp.com.
Contact: Sébastien Loubry, Partner Business development ([email protected])
SOURCE Strider Technologies, Inc.
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Doubling Down on Innovation: Increased Commitment from GEM to Propel Events.com’s Global Reach and Technological Advancements
LA JOLLA, Calif. and NEW YORK, Sept. 12, 2024 — Events.com (the “Company”), an industry-leading event management platform, today announced the expansion of its Share Subscription Facility (“SSF”) with Global Emerging Markets (“GEM”), to $200 million. This increase by GEM from their initial commitment of $100 million reflects a significant endorsement of Events.com’s trajectory and the Company’s capacity to redefine the Events industry through advanced technology.
GEM logo
“The increased commitment from GEM is a milestone for us,” said Mitch Thrower, Co-founder and CEO of Events.com. “This funding will empower us to help more event organizers worldwide manage, market and monetize their event and help people around the world discover, interact and transact with unforgettable experiences — while gathering actionable data and revenue at scale.”
“While innovative engineering is essential, achieving market leadership requires ample resources.” said Stephen Partridge, President and COO of Events.com “This doubling of GEM’s commitment to $200M is a key to our buy, build and partner growth strategy, but even more importantly will help amplify our brand and is a big vote of confidence.”
“The increased GEM facility provides Events.com with added dry powder that will allow them to capitalize on what we believe to be a large acquisition opportunity upon the expected closing of our transaction in Q1,” said Jeff Tuder, CEO of Concord. “We appreciate GEM’s continued support as we proceed toward this milestone.”
Events.com recently announced its signing of a definitive agreement to merge with Concord Acquisition Corp II (NYSE: CNDA) (“Concord“), marking a significant milestone in Events.com’s path to become a publicly traded company. The proposed business combination with Concord is valued at a pre-money equity value of $314 million, with an implied pro forma enterprise value of $399 million. The proposed business combination (the “Proposed Business Combination”) is subject to customary closing conditions, including regulatory and stockholder approvals. The combined public company (“PubCo”) is expected to be named “Events.com” and to list its common stock under the new ticker symbol “RSVP,” subject to the approval of its listing application.
Additional information about the Proposed Business Combination, including a copy of the Agreement and Plan of Merger, by and among CNDA, Concord Merger Sub, Inc., and the Company, dated as of August 26, 2024 (the “Merger Agreement”), has been provided in a Current Report on Form 8-K filed by CNDA with the U.S. Securities and Exchange Commission (the “SEC”) and available at www.sec.gov.
The Events.com investor presentation can be found here. The announcement of the merger can be found here.
About Events.com Events.com powers a two-sided marketplace and platform that helps passionate individuals create, promote, discover, and enjoy events. Events.com’s platform helps event organizers seamlessly execute their events and allows event goers to discover, interact, and transact with the events they love. The Company offers a robust ecosystem that supports millions of event creators worldwide, catering to various interests. From the prestigious All-In Summit, the world’s leading podcast for business, technology, and investing, to the vibrant 100,000-person Renaissance Festival in Florida, the exclusive Club Getaway featured on Bravo, the event calendar on NewYork.com, the transformative Archangel Summit, and movie experiences at the iconic Mayfair Theatre in Ottawa—Events.com technology is the driving force behind unforgettable moments worldwide.
For additional information, please visit events.com
Create your event at Events.com – Online Event Registration Software: https://events.com
About GEM: Global Emerging Markets (GEM) is a $3.4 billion alternative investment group with operations in 72 countries. GEM’s investment vehicles provide the group and its investors with a diverse portfolio of asset classes that span the global private investing spectrum, including Small-Mid Cap Management Buyouts, Private Investments in Public Equities (PIPEs), and select venture investments.
About Concord Acquisition Corp II (CNDA) Concord Acquisition Corp II is a special purpose acquisition company formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses in the financial services or financial technology industries. It is sponsored by Concord Sponsor Group II LLC, an entity affiliated with Atlas Merchant Capital LLC, an investment firm that offers debt and equity investment strategies, seeking long-term value through differentiated expertise in financial services and credit markets. For additional information, please visit cnda.concordacquisitioncorp.com
About Atlas Merchant Capital Atlas Merchant Capital LLC, founded in 2013 by Bob Diamond and David Schamis, is an alternative asset management company with approximately $1.3 billion in assets under management as of December 31, 2023, and over $3 billion in capital raised through its fund vehicles and co-investments. Atlas invests globally in compelling opportunities, particularly within the financial services sector, through a diverse range of funds, including private equity, credit opportunities, and SPAC-focused public equity funds. The firm’s investment strategy is rooted in a long-term, partnership-based approach, leveraging its deep operating and technical expertise. Atlas’s executive team brings decades of experience from top-tier global financial institutions, including Barclays Capital, Cerberus Capital Management, Citigroup, J.C. Flowers & Co, and Fortress Investment Group. For additional information, please visit https://www.atlasmerchantcapital.com.
Art and Logos You may download the logos from Events.com here. You may download the logos from Concord and Atlas here.
Forward-Looking Statements Certain statements included in this press release are not historical facts but are forward-looking statements. All statements other than statements of historical facts contained in this press release are forward-looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. In some cases, you can identify forward-looking statements by words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “target,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” “preliminary,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limitation, CNDA’s, Events.com’s, or their respective management teams’ expectations concerning the outlook for their or Events.com’s business, productivity, plans, and goals for future operational improvements and capital investments, operational performance, future market conditions, or economic performance and developments in the capital and credit markets and expected future financial performance, including expected net proceeds, expected additional funding, the percentage of redemptions of CNDA’s public stockholders, growth prospects and outlook of Events.com’s operations, individually or in the aggregate, including the achievement of project milestones, commencement and completion of commercial operations of certain of Events.com’s projects, as well as any information concerning possible or assumed future results of operations of Events.com. Forward-looking statements also include statements regarding the expected benefits of the Proposed Business Combination. The forward-looking statements are based on the current expectations of the respective management teams of Events.com and CNDA, as applicable, and are inherently subject to uncertainties and changes in circumstance and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, (i) the risk that the Proposed Business Combination may not be completed in a timely manner or at all, which may adversely affect the price of CNDA’s securities; (ii) the risk that the Proposed Business Combination may not be completed by CNDA’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by CNDA; (iii) the failure to satisfy the conditions to the consummation of the Proposed Business Combination, including the adoption of the Merger Agreement by the stockholders of CNDA and Events.com and the receipt of certain regulatory approvals; (iv) market risks; (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement; (vi) the effect of the announcement or pendency of the Proposed Business Combination on Events.com’s business relationships, performance, and business generally; (vii) risks that the Proposed Business Combination disrupts current plans of Events.com and potential difficulties in its employee retention as a result of the Proposed Business Combination; (viii) the outcome of any legal proceedings that may be instituted against Events.com or CNDA related to the Merger Agreement or the Proposed Business Combination; (ix) failure to realize the anticipated benefits of the Proposed Business Combination; (x) the inability to maintain the listing of CNDA’s securities or to meet listing requirements and maintain the listing of PubCo’s securities on the NYSE American; (xi) the risk that the price of PubCo’s securities may be volatile due to a variety of factors, including changes in the highly competitive industries in which Events.com plans to operate, variations in performance across competitors, changes in laws, regulations, technologies, natural disasters or health epidemics/pandemics, national security tensions, and macro-economic and social environments affecting its business, and changes in the combined capital structure; (xii) the inability to implement business plans, forecasts, and other expectations after the completion of the Proposed Business Combination, identify and realize additional opportunities, and manage its growth and expanding operations; (xiii) the risk that Events.com may not be able to successfully develop its assets, including expanding the product offerings and implementing the acquisition plan (xiv) the risk that Events.com will be unable to raise additional capital to execute its business plan, which many not be available on acceptable terms or at all; (xv) political and social risks of operating in the U.S. and other countries; (xvi) the operational hazards and risks that Events.com faces; and (xvii) the risk that additional financing in connection with the Proposed Business Combination may not be raised on favorable terms. The foregoing list is not exhaustive, and there may be additional risks that neither CNDA nor Events.com presently knows or that CNDA and Events.com currently believe are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this press release and the other risks and uncertainties described in the “Risk Factors” section of CNDA’s Annual Report on Form 10-K for the year ended December, 31, 2023, which was filed with the SEC on March 1, 2024, the risks to be described in the registration statement on Form S-4 to be filed by CNDA with the SEC in connection with the Proposed Business Combination (the “Registration Statement”), which will include a preliminary proxy statement/prospectus, and those discussed and identified in filings made with the SEC by CNDA and PubCo from time to time. Events.com and CNDA caution you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information currently available as of the date a forward-looking statement is made. Forward-looking statements set forth in this press release speak only as of the date of this press release. None of Events.com, CNDA, or PubCo undertakes any obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward-looking statement is updated, no inference should be made that Events.com, CNDA, or PubCo will make additional updates with respect to that statement, related matters, or any other forward-looking statements. Any corrections or revisions and other important assumptions and factors that could cause actual results to differ materially from forward-looking statements, including discussions of significant risk factors, may appear, up to the consummation of the Proposed Business Combination, in CNDA’s or PubCo’s public filings with the SEC, which are or will be (as appropriate) accessible at www.sec.gov, and which you are advised to review carefully.
Important Information for Investors and Shareholders In connection with the Proposed Business Combination, CNDA intends to file with the SEC the Registration Statement, which will include a prospectus with respect to PubCo’s securities to be issued in connection with the Proposed Business Combination and a proxy statement to be distributed to holders of CNDA’s common stock in connection with CNDA’s solicitation of proxies for the vote by CNDA’s stockholders with respect to the Proposed Business Combination and other matters to be described in the Registration Statement (the “Proxy Statement”). After the SEC declares the Registration Statement effective, CNDA plans to file the definitive Proxy Statement with the SEC and to mail copies to stockholders of CNDA as of a record date to be established for voting on the Proposed Business Combination. This press release does not contain all the information that should be considered concerning the Proposed Business Combination and is not a substitute for the Registration Statement, Proxy Statement or for any other document that PubCo or CNDA may file with the SEC. Before making any investment or voting decision, investors and security holders of CNDA and Events.com are urged to read the Registration Statement and the Proxy Statement, and any amendments or supplements thereto, as well as all other relevant materials filed or that will be filed with the SEC in connection with the Proposed Business Combination as they become available because they will contain important information about, Events.com, CNDA, PubCo and the Proposed Business Combination.
Investors and security holders will be able to obtain free copies of the Registration Statement, the Proxy Statement and all other relevant documents filed or that will be filed with the SEC by PubCo and CNDA through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by PubCo and CNDA may be obtained free of charge from CNDA’s website at cnda.concordacquisitioncorp.com or by directing a request to Jeff Tuder, Chief Executive Office, 477 Madison Avenue New York, New York 10022; Tel: (212) 883-4330. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.
Participants in the Solicitation Events.com, CNDA, PubCo and their respective directors, executive officers and other members of management and employees may, under the rules of the SEC, be deemed to be participants in the solicitations of proxies from CNDA’s stockholders in connection with the Proposed Business Combination. For more information about the names, affiliations and interests of CNDA’s directors and executive officers, please refer to CNDA’s annual report on Form 10-K filed with the SEC on March 1, 2024, and Registration Statement, Proxy Statement and other relevant materials filed with the SEC in connection with the Proposed Business Combination when they become available. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, which may, in some cases, be different than those of CNDA’s stockholders generally, will be included in the Registration Statement and the Proxy Statement, when they become available. Stockholders, potential investors and other interested persons should read the Registration Statement and the Proxy Statement carefully, when they become available, before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.
No Offer or Solicitation This document shall not constitute a “solicitation” as defined in Section 14 of the Securities Exchange Act of 1934, as amended. This document shall not constitute an offer to sell or exchange, the solicitation of an offer to buy or a recommendation to purchase, any securities, or a solicitation of any vote, consent or approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. No offering of securities in the Proposed Business Combination shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom.
SOURCE Events.com
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