MIAMI, July 25, 2024 — NAVIGANTIS Inc. announced today that it has closed a $12 million Series A financing led by Puma Venture Capital, with participation from Cormorant Asset Management and Mirae Asset Capital. All existing NAVIGANTIS investors participated in the financing round. Amit Hazan, Founder and Managing Partner at Puma Venture Capital will join NAVIGANTIS Board of Directors.

Proceeds from the financing will be used to support the ongoing development and testing of the VASCO robot to bring it into first-in-human clinical trials in neurovascular procedures.

We are thrilled and fortunate to have the support of such esteemed partner investors who share our vision for revolutionizing neurovascular care with robotics,” said Mor Dayan, CEO of NAVIGANTIS.

Neurovascular diseases, including stroke, aneurysms, and Arteriovenous malformations (AVMs) are leading causes of death and disability worldwide. In the case of stroke, it affects someone in the US every 40 seconds, and is the leading cause of disability. Despite improvements in stroke systems of care, many Americans still lack timely access to acute stroke intervention. Mechanical Thrombectomy (MT) is now the gold standard for acute ischemic stroke. If a patient receives MT within 2 hours from symptoms onset it has a 90% chance of re-achieving independence, at 6 hours the number drops to 30%. These numbers reaffirm the importance to ensure the procedure is timely and widely available, which is currently constrained by the insufficient number of trained neurointerventionalists and the limited access outside urban areas.

Amit Hazan, Managing Partner at Puma Venture Capital added: “we are incredibly excited to support the NAVIGANTIS team in their mission to further improve stroke care via robotic applications. The use of robotics in the neurovascular space also opens the door to expanded access to care via telesurgery, and going beyond fixing blood vessels that are weakened or blocked to use the vascular route for other applications such as drug delivery and brain implants. All these advancements will ultimately help many neurovascular patients across the globe to live longer and healthier lives.”

As more endovascular procedures requiring fluoroscopy for imaging guidance are performed to treat neurovascular diseases, it has become vitally important to focus on decreasing the radiation exposure. The application of robotics for interventional procedures will greatly reduce it.

About NAVIGANTIS Inc.

NAVIGANTIS Inc. is developing an interventional robotic platform for a wide range of neurovascular procedures and indications, including Acute Ischemic Stroke.

For more information, visit www.navigantis.co and follow us on LinkedIn.

About Puma Venture Capital
Puma Venture Capital was co-founded by Amit Hazan and Dr. Vipul Patel in 2023. The firm seeks to leverage our network of surgeon venture partners to invest in all aspects of the digital surgery ecosystem that can accelerate the future of minimally invasive care, including robotics, diagnostics, therapeutics, AI analytics, and digital ecosystems, to drive improved patient outcomes and lower costs for all aspects of the healthcare system.

For more information, visit www.pumaventurecapital.com.

Media and investor contact: [email protected]

SOURCE Navigantis Inc.

Grazzy increases financial wellness across hospitality and service industries with its same-day-pay, banking and tipping solutions for any size business

AUSTIN, Texas, July 25, 2024 — Grazzy, the digital payments platform for hospitality and service-focused businesses today announced the completion of a $4MM Seed round with participation from AZ-VC, In Revenue Capital, Iron Skillet Partners, Tuesday Capital, and Next Coast Ventures. The latest funding will help Grazzy expand its team, accelerate new customer onboarding, and scale partnerships, integrations and go-to-market strategies to continue the company’s exponential growth.

Grazzy has grown its customer base 100x in the last 18 months, a reflection of confidence in the hospitality market that digital tipping is a powerful tool for labor retention, and that Grazzy’s uniquely flexible and scalable solution is the best fit for large enterprises. That enterprise trust in Grazzy was further reinforced last autumn, when the company became the only digital tipping provider to be approved by all four of the major global hotel brands.

“We’re meeting a seriously understaffed market with a solution that can truly deliver more money, more often to front-line employees,” says Grazzy Founder and CEO Russell Lemmer. “On the Grazzy platform, we’ve moved millions of dollars directly to thousands of worker wallets. And we did that while saving our enterprise customers thousands of dollars a month in recruitment and retention costs. This latest funding will support new customer acquisition, feature development, and ecosystem partner integrations that will further accelerate Grazzy’s remarkable growth.”

Grazzy’s innovative platform has proven clear benefits to its customers, enabling businesses to improve employee satisfaction and retention through efficient, same-day payment solutions. By addressing the industry’s need for modern, secure tipping options, Grazzy helps companies save on recruitment and retention costs while ensuring that front-line workers receive their earnings promptly.

“Carnation Auto Spa has experienced a remarkable boost in employee take-home pay since partnering with Grazzy,” said Drew Shepard, Operating Partner at Iron Skillet Partners and CEO for Carnation Auto Spa. “We’ve seen a 5x increase in tips and a 4x increase in the total value of tips earned by our staff. The addition of digital tipping options has also significantly improved safety across our 20+ locations in the Dallas-Fort Worth area by minimizing the amount of cash on-site and reducing the risk of theft.”

“AZ-VC is delighted to invest in Grazzy’s latest funding round. They are a power player in the market, offering modern solutions compared to the outdated habit of tipping cash. Grazzy’s ability to quickly and seamlessly scale across different areas and size of service makes them a valuable partner to any business looking to incorporate digital tipping solutions,” says Ashok Santhanam, Venture Partner at AZ-VC.

About Grazzy
Grazzy helps hourly employees make more money, access it the same day, and save and spend in more meaningful ways. By improving financial wellness for front line workers, Grazzy reduces retention and recruiting costs for hotels, bars, restaurants, salons, car washes, and more. Grazzy also benefits back of the house operations by providing assistance to ensure tax compliance, scaling for businesses of any size, and real-time assistance with an expert care team. Our extensible payments platform enables digital tipping, instant disbursements, and inclusive banking solutions that are built to scale with hospitality and services businesses of any size. To learn more visit https://www.grazzy.com.

About AZ-VC 
AZ-VC is Arizona’s largest venture capital fund. Founded in 2022, AZ-VC’s first fund of $115M invests in early-stage B2B software companies in Arizona and the broader Southwest. As a long-term partner to founders, AZ-VC’s investing team leverages deep operating experience and network to help startups with product-market fit grow into great companies. To learn more, visit azvc.com.

Media Contact:
Rick Medeiros
510-556-8517
[email protected]

SOURCE Grazzy

Building on a previous commitment of $40 million provided by Runway in 2023, the funding will enable Elevate’s continued growth and innovation in legal software and services.

MENLO PARK, Calif., July 25, 2024 — Runway Growth Capital LLC (“Runway”), a leading provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, announced today a $20 million growth capital commitment to Elevate, a leading provider of consulting, technology, and services for law departments and law firms. The investment upsizes the previous $40 million senior secured term loan provided by Runway in 2023.

“We are thrilled to continue our partnership with Elevate, a market leader in legal software and services,” said Brad Pritchard, Managing Director at Runway. “This additional funding underscores our commitment to supporting the long-term growth of Runway’s portfolio companies.”

Elevate is a fast-growing innovation leader in the legal industry. Its success aligns with Runway’s aim to partner with high-quality, late-stage companies poised for significant growth.

“We appreciate Runway’s partnership and belief in our vision,” said Liam Brown, Chairman and CEO of Elevate. “This investment is a strong vote of confidence in our strategy, execution, and team and will enable us to pursue inorganic growth opportunities.”

About Runway Growth Capital LLC
Runway Growth Capital LLC is the investment advisor to investment funds, including Runway Growth Finance Corp. (Nasdaq: RWAY), a business development company, and other private funds, which are lenders of growth capital to companies seeking an alternative to raising equity. Led by industry veteran David Spreng, these funds provide senior term loans of $10 million to $75 million to fast-growing companies based in the United States and Canada. For more information on Runway Growth Capital LLC and its platform, please visit our website at www.runwaygrowth.com.

About Elevate
Elevate is an expert-led, software-powered law company. Elevate provides software and services for the intersection of business and law. Elevate’s legal, business, and technology professionals offer practical ways for global law departments and law firms to improve efficiency, quality, and business outcomes. For more information on Elevate, please visit their website at www.elevate.law.

Forward-Looking Statements
Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition, or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Runway’s filings with the Securities and Exchange Commission. Runway undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

SOURCE Runway Growth Capital LLC

The funding will support operational growth and global business expansion for Addionics 3D Current Collector solution

LONDON, July 25, 2024 — Addionics, a global leader in battery technology, announced its Series B funding round of $39 Million. The round was co-led by GM Ventures and Deep Insight, with participation from Scania, along with new and returning strategic investors. The funds will be used to bolster the company’s manufacturing capabilities and advance global business engagements. The investment will allow Addionics to build up teams across the globe, and expand its manufacturing and commercialization efforts, including advancing the construction of its planned US-based giga-factory for the production of Addionics 3D Current Collectors.

Addionics is the leading manufacturer of 3D Current Collectors, which drive significant battery manufacturing and performance benefits. With better heat dissipation throughout the electrodes, batteries using Addionics provide faster charging time, increased power, and improved stability, resulting in better-performing batteries at a lower cost. The added benefit of the Addionics drop-in solution allows manufacturers to seamlessly integrate the 3D Current Collectors allowing for cost-effective production and rapid deployment.

“Working with true partners who understand the urgency of what Addionics has set out to accomplish is a privilege,” said Moshiel Biton, CEO and Co-Founder of Addionics. “As the global demand for higher performing batteries grows, so too has the demand for our product. With the new funding, we will be able to begin commercial production by the end of the year, delivering our technology to battery manufacturers and enhancing battery performance globally.”

This new round of financing will lay the groundwork for future manufacturing facilities for the Addionics 3D Current Collector solution, help enable faster commercial distribution for leading partners, and solidify R&D efforts to build best-in-class EV battery technology. Working with the majority of the 10 biggest global automotive OEMs and battery manufacturers, the funding will help meet the growing demand for Addionics 3D Current Collectors.

“GM’s investment supports our broader mission of identifying, investing in, and developing the right technology that will enable our all-electric future,” said Anirvan Coomer, Managing Director, GM Ventures. “Addionics’ current collector design shows promise in enabling improved battery performance at a lower cost. We are eager to support the company’s growth and look forward to continuing to explore opportunities to collaborate in the future.”

“We are proud to co-lead this funding round and continue our support of Addionics in their journey to bring to market their groundbreaking battery technology,” said Dr. Eyal Kishon of Deep Insight. “Their unique 3D Current Collector solution promises significant improvements to make better, more powerful batteries, aligning with our vision of investing in disruptive technologies to drive worldwide progress.”

“Scania is dedicated to fostering advancements that contribute to a sustainable and efficient future. Addionics’ revolutionary approach to battery technology aligns with our mission to enhance the performance and sustainability of next-generation zero emission solutions,” said Jessica Persson, Head of VC and M&A at Scania. “We are proud of our investment in Addionics and look forward to the impact their technology will have on the future of batteries and electric vehicles.”

For more information about Addionics and their innovative battery technology, please visit www.addionics.com

About Addionics:

Addionics is a leading manufacturer of 3D Current Collectors™ powering the next generation of batteries. Addionics’ low-cost drop-in solution seamlessly integrates into existing production facilities, allowing battery manufacturers and automakers to increase production capacity while reducing manufacturing costs. By revolutionizing the internal physical structure of the battery, Addionics 3D Current Collectors significantly improve the performance of any battery regardless of its chemistry. Designed for commercial scale, Addionics has partnerships with major OEMs and automakers across North America and Europe.

Founded in 2017, Addionics has sites in the UK, Israel, the US, and Germany. Read more at www.addionics.com

Addionics Media Contact

Josh Schaefer
Headline Media
[email protected]
+972-50-790-4505

SOURCE Addionics

Highlights:

• akirolabs awarded 7-digit non-dilutive public funding from Investitionsbank Berlin and the European Regional Development Fund (ERDF).
• The jury acknowledged akirolabs’ breakthrough innovation in ProcureTech and praised its advancements in integrating AI into strategic procurement.
• Fund will be utilized to develop further akiroAssist, the leading Expert LLM for Strategic Procurement, enhancing akirolabs’ AI capabilities and reinforcing its position as an AI-first ProcureTech SaaS company.
• This public funding comes after the company’s $5M seed round announcement in January this year, which was led by High-Tech Gründerfonds (HTGF), OTB Ventures, and D11Z Ventures.

BERLIN, July 25, 2024 — akirolabs, a Berlin-based ProcureTech startup, enabling enterprises worldwide to augment strategic procurement processes, announces an extension to its recent $5 million seed funding with an additional 7-digit ( € million) non-dilutive grant from Investitionsbank Berlin and the European Regional Development Fund (ERDF).

This highly competitive grant, awarded only to top tech startups pushing the boundaries of innovation and technology, comes shortly after the company’s successful $5 million seed funding round, underlining the strong momentum and confidence in akirolabs’ vision for AI-driven strategic procurement transformation..

The jury was notably impressed by akirolabs’ vision and the development of akiroAssist, their proprietary and leading expert LLM for strategic procurement, which enhances their category management software. This innovative use of technology played a crucial role in securing the grant, highlighting the company’s distinctive position in the ProcureTech landscape.

akirolabs is developing what they call the “Penrose Triangle of ProcureTech” – an impossibly replicable masterpiece that combines three key elements:

• Unique Procurement Domain Expertise
• Revolutionary and Highly Innovative Procurement Methodology
• Cutting-edge AI Engine Leveraging Large Language Models (LLM), Retrieval-Augmented Generation (RAG), and Ontology

This funding will be strategically utilized to further advance the software’s AI/LLM capabilities, solidify akirolabs’ position as the AI-first ProcureTech B2B SaaS company, and accelerate product development and team expansion.

This funding will be strategically utilized to further advance the software’s AI/LLM capabilities, solidify akirolabs’ position as the AI-first ProcureTech SaaS company, and accelerate the development of akiroAssist – the leading LLM for strategic procurement.

Michael Pleuger, CEO of akirolabs, stated, “We’re honoured to receive this recognition and grant from IBB ProFIT and the ERDF. This vote of confidence from IBB ProFIT and the ERDF fuels our commitment to pushing the boundaries of what’s possible in procurement”

“We’re excited about the journey ahead and deeply grateful for the support of our investors, customers, and partners” added Pleuger.

Industry expert Elouise Epstein, KEARNEY Partner and best-selling author on Digital Procurement has previously lauded akirolabs: “What you have created is significant… there is no doubt in my mind that this is a breakthrough innovation. akirolabs is on a trajectory to eliminate much of the category management function as we know it today.”

About akirolabs:

akirolabs, founded in 2021 by Michael Pleuger, Detlef Schultz, Christoph Flöthmann, and Tim Ergenzinger, develops and provides an AI-powered SaaS platform for collaborative strategic procurement. akirolabs is based upon a world-class and industry-proven strategic procurement process, methodology, and toolkit, embedded into an intuitive cross-functional collaboration workflow and enriched with all relevant internal and external business insight. akirolabs’ unique approach delivers “Procurement Strategies with Value & Purpose” and a significantly broader and 4-5 times higher value contribution than traditional sourcing solutions.

Press Contact:
Tim Ergenzinger
akirolabs GmbH
Greifswalder Str. 208
10405 Berlin 
[email protected]
Tel: +49 30 754 384 66

Logo – https://mma.prnewswire.com/media/2468356/akirolabs_gmbh_Logo.jpg

SOURCE akirolabs gmbh

AUSTIN, Texas, July 24, 2024 — Evo Security, a leading provider of Identity and Access Management solutions for Managed Service Providers (MSPs), is pleased to announce the successful completion of its Series A funding round, raising $6 million led by TechOperators, a cybersecurity venture capital firm led by industry veterans, based in Atlanta, Georgia. The round includes participation from Sorenson Capital, Prelude, Strategic Cyber Ventures, Inner Loop Capital, in addition to new partner MetroSITE Group.

This capital infusion will enable Evo Security to accelerate its growth, enhance its consolidated product offerings, and expand market presence. The investment will also support the company’s efforts in driving unique innovation and reinforcing its commitment to providing best of breed identity and privileged access solutions for MSPs and their SMB customers.

“We are genuinely thrilled to partner with TechOperators as we embark on this exciting new chapter of growth,” said Michael Roth, CEO of Evo Security. “This investment is a testament to the hard work and dedication of our team and the trust our MSP Partners place in us. With TechOperators’ support, we are well-positioned to advance our mission of delivering a market leading, consolidated identity and privileged access management platform to our MSP Partners and their SMB customers.”

TechOperators, known for its strategic investments and strong track record of supporting high-growth technology companies, particularly those focused on serving MSPs, recognized Evo Security’s potential and market leadership. The firm’s investment will provide Evo Security with the resources and expertise needed to scale operations and further develop its innovative identity platform.

“MSPs and their small business customers are on the frontlines of escalating attacks by increasingly sophisticated adversaries. We invested in Evo’s vision and commitment to help even the odds,” said Daniel Ingevaldson, General Partner at TechOperators. “We are excited to help Evo accelerate their plans to address the unique identity and privileged access management issues that face MSPs and are not addressed by large enterprise providers. We look forward to supporting Evo Security as they continue to innovate and grow.”

Evo Security, headquartered in Austin, Texas, is rapidly emerging as a trusted name in the cybersecurity MSP industry. The company’s platform empowers MSPs to protect themselves, and their customers from the most common cyber attacks, and simultaneously delivers a new revenue stream to MSPs.

For more information about Evo Security and its solutions, please visit https://evosecurity.com

About Evo Security

Evo Security is a leading cybersecurity SaaS company based in Austin, Texas, dedicated to providing best in class solutions that protect MSPs and their SMB customers from evolving identity-based cyber threats. With a focus on quality, innovation, and unwavering MSP support, Evo Security offers a consolidated identity platform designed to safeguard critical digital assets and ensure small and medium business livelihoods are protected.

About TechOperators

TechOperators is a venture capital firm based in Atlanta, Georgia, specializing in investments in high-growth cybersecurity companies. With a team of highly experienced operators and a proven track record of success, TechOperators partners with Seed and Series A companies to provide the capital and strategic support needed to drive real and lasting success.

For more information on Evo Security, please visit https://evosecurity.com or follow us on LinkedIn.

SOURCE Evo Security, Inc.

Gandalf, the world’s largest AI red team, was created by Lakera and trains AI to Secure AI

ZURICH and SAN FRANCISCO, July 24, 2024 — Lakera, the world’s leading real-time Generative AI (GenAI) Security company, has raised $20 million in a Series A funding round. Led by European VC Atomico, with participation from Citi Ventures, Dropbox Ventures, and existing investors including redalpine, this investment brings Lakera’s total funding to $30 million. This funding positions Lakera at the forefront of the global economy’s race to secure GenAI applications. As part of this round, Atomico Partner Sasha Vidiborskiy will join Lakera’s board.

It’s been predicted that by 2026, 80% of enterprises will have used GenAI or GenAI-enabled applications in production environments, up from less than 5% in 2023. As businesses worldwide scramble to harness the power of GenAI without exposing themselves to AI-specific risks, the demand for Lakera’s platform is expected to continue growing at a rapid clip.

While GenAI could add an estimated $4.4 trillion annually to global GDP, cybersecurity remains the second most-cited risk associated with its adoption as traditional cyber tools are ill-equipped to address the novel dangers it poses. This creates a critical need for security solutions that address GenAI-specific risks, without which businesses are unable to unlock the benefits of AI.

David Haber, Founder and CEO of Lakera, explains the urgency: “With the advent of GenAI, the old cybersecurity techniques aren’t sufficient. Enterprises now operate in a world where anyone who knows how to talk knows how to hack. Security solutions need to change but they can’t get in the way of user experience. There is a need for real-time AI security solutions that continuously evolve and enable amazing user experiences.”

David elaborates in his blog published today.

Cybersecurity-risks posed by LLMs

The spectrum of LLM vulnerabilities is both diverse and severe:

Lakera’s comprehensive approach to AI security delivers three key benefits for enterprises: protection that doesn’t slow down their AI applications; the ability to stay ahead of AI threats with continuously evolving intelligence; and centralized implementation of AI security controls.

The company’s growth comes at a pivotal moment in AI development. With the adoption of GenAI, users now direct software applications using natural language, and Lakera’s real-time AI security does not compromise application interactivity. To make implementation effortless for developers, the company’s API can be integrated with a single line of code, providing an ultra-low-latency security layer compatible with any GenAI model. Centralized controls allow security teams to customize application-specific policies and address emerging threats without code changes.

Lakera is uniquely positioned to tackle these fast-changing challenges, in part thanks to Gandalf – an AI educational platform created by the company which serves as the world’s largest AI red team. With over 250 thousand unique users worldwide, including companies such as Microsoft where it’s used in security training, Gandalf generates a real-time database of AI threats which is growing by 100 thousands of uniquely new attacks every day and keeps Lakera’s software up to date, ensuring continuous protection for customers. The 50+ million data points generated by Gandalf, combined with the founding team’s deep experience in building AI systems with real-time requirements, means Lakera’s customers are able to stay ahead of threats and deliver amazing user experiences.

Atomico Partner Sasha Vidoborskiy, who will join Lakera’s board, said: “Lakera has seen impressive commercial pull, winning customers such as Dropbox and a top 3 US bank, and already having more than 35% of Fortune 100 companies knock on their door. All those clients have an urgency to deploy GenAI applications into production, but can’t do it without protection in place. Easy integration, best-in-class performance, and low latency are why they pick Lakera. But most importantly, the company is led by David and his team, who are thought leaders in the space and have a deep understanding of what the adoption of AI means for new cybersecurity risks.”

“At Dropbox, ensuring the security of our systems and customers’ data is a top priority,” said Donald Tucker, Head of Corporate Development and Ventures at Dropbox. “Lakera’s team has extensive expertise and a deep understanding of the complex security challenges companies are facing with LLMs and Generative AI. Their advanced technology is helping companies like Dropbox safeguard against vulnerabilities these new technologies pose. We’re thrilled to strengthen our existing relationship with Lakera by investing in the future of the company and AI security.”

Lakera plans to use this funding round to invest further in its product development and expand its presence in the US, where it already has a foothold in Silicon Valley.

About Lakera
Lakera is the world’s leading real-time GenAI security company. Customers rely on Lakera for security that doesn’t slow down their AI applications. To accelerate secure adoption of AI, the company created Gandalf, an educational tool, where more than one million users have learned about AI security. Lakera uses AI to continuously evolve defenses, so customers can stay ahead of emerging threats. Lakera was founded by David Haber, Mateo Rojas-Carulla and Matthias Kraft in 2021.

About Atomico
Atomico invests in ambitious tech founders from Seed through to IPO with a particular focus on Europe, leveraging deep operational experience to supercharge their growth. Founded in 2006, Atomico has partnered with over 100 ambitious teams – including those at Klarna, Supercell, Graphcore, Compass, MessageBird, Masterclass, Attentive Mobile, Pipedrive and Hinge Health. Atomico’s team of founders, investors and operational leaders have been responsible for global expansion, hiring and marketing at companies from Skype and Google to Twitter and Uber. The firm currently has $5B in assets under management.

Media Contact for Atomico
Bryce Keane
Partner and Head of Communications
Atomico
[email protected] 

Media Contact for Lakera
Kristianna Sanders
Media Relations Lead, Story Changes Culture
[email protected]

SOURCE Lakera

OAKLAND, Calif., July 24, 2024 — Joy, a new parenting tech platform offering 24/7 expert-led support for parents, raised $10 million in seed funding led by Forerunner. Other investors include Magnify Ventures, David Heller, Wesley Capital, Obvious Ventures, Ogden Cap, Maywic, Rogue Venture Partners and WTI. Eurie Kim, Managing Partner at Forerunner, is joining the Joy board.

Joy offers a wealth of critical parenting resources in one place, providing families with immediate access to the help they need, when they need it. The company’s flagship product is Joy On Call, which delivers on demand personalized guidance to parents via SMS, leveraging real experts and practitioners, as well as relevant AI-powered insights spanning a range of Joy-curated and developed content.

Key Joy features include:

• Joy On Call: 24/7 Parent Expert SMS Support to contact certified experts, including sleep and lactation consultants, behavioral experts, and parent coaches.
• Joy Learning: a library of videos and articles that adapt to meet the diverse needs of families.
• Joy Shop: exclusive deals with trusted brands for ongoing savings.

Joy addresses an urgent need in today’s consumer market by consolidating and curating essential services to support the significant emotional and financial stress of raising children. Valuable early support like 1:1 lactation consulting, sleep training and other digital parenting services can cost over $3,000. This substantial investment, often out of reach for most parents, underscores the pressing need for a more accessible and comprehensive parenting solution like Joy, which consolidates these critical services into one affordable platform – priced at just $8 per month. Joy offers a variety of membership options, including monthly, quarterly, and yearly plans, allowing families to choose the solution that best fits their needs and budget.

Joy’s expert team includes lead expert Olena Dobczansky, the Clinical Program Manager at Lenox Hill Hospital in New York. Olena’s extensive background includes a decade in maternal child health and qualifications such as a Masters of Science in Nursing, RN-MNN (registered nurse, certified in maternal newborn nursing), and IBCLC (International Board Certified Lactation Consultant). The Joy expert team also includes certified sleep consultants, lactation consultants, social workers, and child development experts, all dedicated to providing comprehensive family support.

“We are dedicated to being a partner to parents everywhere, helping them navigate the ups and downs of parenthood with confidence and joy,” says Joy CEO, Alan Charming Chan. “No parent should feel isolated during this exciting yet often daunting stage of life,” says Emily Greenberg, Joy’s Chief Parenting Officer, reflecting on her struggles with postpartum anxiety.

The new funding will drive further development of Joy’s digital platform and expand its personalized services, ensuring comprehensive support for parents at every stage of their journey.

Current Joy families rave about the impact of Joy’s support: “Joy is amazing. I am very grateful to have a place where I can talk to real live people. The Google rabbit hole is a dark and scary place.”

Eurie Kim, Managing Partner at Forerunner, says, “as a mother of two young kids, I regularly feel overwhelmed with the number of new challenges that pop up daily. I have often wished for a place I could go to ask simple questions and get simple answers. Sometimes a quick fix from a more experienced parent can do the job, and sometimes I’m digging around for hours in the hopes of expert advice. This is a stress that the tens of millions of caregivers face every week, and to say it can be all-consuming is an understatement. At Forerunner, we seek to understand evolving human needs and work with visionary founders to develop new solutions that meet consumers’ shifting priorities. We see a profound opportunity to alleviate parental stress with 24/7 guidance, expert insights and digital services to transform how consumers navigate these formative and intense years.”

For more information, email [email protected]

SOURCE Joy

Financing Led by 5AM Ventures with Participation from FIOS Venture Holdings, DF Investment Partners, Transformation Capital, Life Sciences Innovation Fund, Casdin Capital & Others

Leading Women’s Health Investors & Advocates Include GV & Amy Schumer

NEW YORK, July 24, 2024 — TMRW Life Sciences (TMRW), creator of the only FDA-cleared automated specimen management and storage platform for frozen human sperm, eggs and embryos, today announced that it closed a $28+ million Series D equity financing to meet soaring demand from fertility clinics seeking safe and more accurate cryostorage solutions.

The round was led by 5AM Ventures with participation from FIOS Venture Holdings, DF Investment Partners, Transformation Capital, Life Sciences Innovation Fund, and Casdin Capital. Additional support came from leading women’s health investors such as GV (formerly Google Ventures), and actress and advocate Amy Schumer, among others.

“5AM Ventures is proud to continue to invest in TMRW to support innovation, growth and expansion. With the use of fertility treatments growing exponentially, the adoption of state-of-the-art specimen management and storage technologies that help reduce risk and improve safety and accuracy for patients has never been more important,” said Andy Schwab, Managing Partner of 5AM Ventures.

Since its inception in 2018, TMRW has expanded from offering the world’s first and only automated on-site storage management solution to now offering a variety of both onsite and offsite solutions. A pivotal moment in TMRW’s trajectory came in February, when a strange and tragic incident at a clinic in Alabama led to a surprising ruling from the state’s Supreme Court that put the entire industry on notice that mistakes in storage management could be catastrophic.

Since then, recent peer reviewed scientific publications continue to emphasize the importance of storage management and the need to improve the safety and security of frozen embryos, eggs and sperm. TMRW now has more than 60 leading fertility clinic partners serving more than 39,000 patients with more than 260,000 frozen specimens under management, and this rapid adoption is only accelerating. TMRW is quickly becoming a new standard of care.

“The management and storage of precious cells like sperm, eggs and embryos is too important to leave to antiquated systems developed in the last century,” said Louis Villalba, Chief Executive Officer at TMRW. “We are thrilled to have the continued support of such a distinguished group of investors fast-tracking our mission to transform specimen management and storage and our ability to execute on soaring clinic demand.”

More than 1,000,000 frozen eggs and embryos are frozen in fertility clinics in the United States every year. That growing volume of frozen specimens is overwhelming the legacy storage systems that fertility clinics have relied upon for decades. Fertility clinics are demanding new solutions to upgrade, optimize, and safely scale specimen management and storage.

TMRW is the only storage provider in the United States offering a fully integrated technology platform that helps fertility clinics improve accuracy, reduce risk, reduce operational inefficiencies, increase revenue and reduce costs.

TMRW is also the only fertility cryostorage provider with an FDA-cleared specimen management and storage platform with more than 25 years of transactions tested; HIPAA-compliant military-grade data security, SOC II compliance, and ISO and HITRUST certifications; and a platform that reduces potential points of failure by 94% compared to existing manual systems.

About TMRW Life Sciences
Founded in 2018, TMRW Life Sciences, Inc., is a fertility technology company digitizing the IVF lab starting with the world’s first automated platforms for the safe management and storage of frozen sperm, eggs and embryos. For the first time, frozen specimens can be digitally identified and tracked, safely managed with automated robotics, and remotely monitored around the clock. TMRW’s next-generation technology platforms set a new standard of care, reducing potential points of failure by 94% compared to manual systems. TMRW delivers peace of mind by helping reduce the risk of specimen mix-up, damage, or loss. Named Fast Company’s #1 Most Innovative Biotech company in 2022, TMRW has been adopted by leading clinics across the United States and United Kingdom.

Learn more at tmrwlifesciences.com.

SOURCE TMRW Life Sciences