Lower Middle Market Private Equity Firm with Unique Merchant Banking Model

LOS ANGELES, July 1, 2024 — American Discovery Capital (“ADC”), a leading merchant bank focused on founder-led and family-owned companies operating in the lower middle market, announced the final closing of American Discovery Fund II (“ADF II”) at $190 million, representing a more than 3x increase over ADC’s first fund, American Discovery Fund I (“ADF I”). ADF I closed in 2019 and invested $60 million across six portfolio companies and 17 add-on acquisitions. Consistent with its prior fund, ADF II will continue to target majority and significant minority investments as the first institutional capital in leading, founder-led and family-owned companies focused on the business services and software sectors. ADF II has already closed on three investments and is actively seeking new investment opportunities.

ADF II received commitments from a diverse group of limited partners, reflecting significant reinvestments from ADC’s existing investor base in ADF I, and a broad array of new investors who share similar entrepreneurial qualities as the companies ADC invests in, including wealth managers, family offices and high net worth individuals. Importantly, over 17% of ADF II’s commitments came from the partners and employees of ADC, reflecting the firm’s long-term, relationship-driven orientation and commitment to its investors and portfolio companies and a significant alignment of incentives across all constituents.

“We are delighted to announce the successful close of our second fund and are grateful for the support of our limited partners, many of whom have been investing with us since the launch of our first fund over five years ago,” said Brian Webber, Managing Partner of ADC. “We chose the name ‘American Discovery Capital’ to reflect the pride, optimism and enthusiasm we see in the growth potential of U.S. companies, particularly founder-led and family-owned businesses in the lower middle market that drive the majority of job creation in the U.S. We believe the circumstances surrounding these companies and the highly fragmented nature of this market segment have caused it to be overlooked by traditional private equity investors, and that we are well-positioned to source and cultivate differentiated investment opportunities in our sectors of expertise.”

ADC believes its merchant banking model is a unique differentiator in the private equity industry, allowing it to generate proprietary, non-competitive investment opportunities from within its relationship network, and providing the firm with a constant source of market intelligence, industry expertise, M&A prospects, and professional relationships that benefit its portfolio companies.

“We founded ADC because we wanted to work with founder-led businesses, which embody the grit, determination and entrepreneurial spirit which are the heart and soul of this country,” said John Joliet, Managing Partner of ADC. “Our merchant banking model, and the deep expertise and relationship networks of our senior team which comes from decades of collective professional experience, puts us in constant dialogue with exciting, well-established, growth-oriented companies and the founders and management teams who drive them. We look forward to partnering with these founders and collaborating with them on their next chapter of growth.”

Kirkland & Ellis served as legal counsel for ADC. 

ADC Partners: Laurent Degryse, Mike Denbeau, Jeff Gelles, John Joliet, Frank McMahon, Peter Shoemaker, Brian Webber.

SOURCE American Discovery Capital

• New capital financing includes equity injection participation from large strategic industrial companies and diversified investors
• Net proceeds, along with existing cash and long-term credit lines, position company for future success

MELBOURNE, Fla., July 1, 2024 — Eve Air Mobility (“Eve”) (NYSE: EVEX; EVEXW), a global electric vertical take-off and landing (eVTOL) aircraft manufacturer and services provider, has announced $94M in new equity financing from multiple investors. The funding, which includes the issuance of new shares of common stock and warrants, includes participation from a diverse group of global industrial companies that include Embraer, Nidec and additional financial investors.  The new funding strongly positions the company for future success and will support the continued development and manufacturing of the company’s eVTOL.

“We appreciate the confidence that these investors are placing in Eve. The new equity, along with existing cash and credit lines, ensures Eve is well positioned as we continue to build momentum and advance in the development and manufacturing of our eVTOL,” said Eduardo Couto, chief financial officer at Eve Air Mobility. “With the industry’s largest pre-order book with letters of intent for 2,900 aircraft and strong program development partners, Eve has continued to demonstrate the opportunity that our company presents for both strategic and financial investors.”

The Company entered into agreements, dated as of June 28, 2024, for the issuance and sale of 23,500,000 new shares of the Company’s common stock at a purchase price of $4.00 per share, the exchange of certain warrants for shares of common stock, and the granting of warrants to certain investors. The private placement is expected to result in gross proceeds to Eve of $94 million, before deducting other offering expenses.

The equity funding is expected to close over the coming weeks, subject to the satisfaction of customary closing conditions. Additional details regarding the equity funding is included in a Form 8-K filed by Eve with the Securities and Exchange Commission (“SEC”).

Eve’s eVTOL aircraft utilizes eight dedicated propellers for vertical flight and fixed wings to fly in cruise, with no change in the position of these components during flight. The concept includes an electric pusher powered by dual electric motors that provide propulsion redundancy with the goal of ensuring the highest levels of performance and safety. While offering numerous advantages including lower cost of operation, fewer parts, optimized structures and systems, it has been developed to offer efficient thrust with low noise.

The company is completing assembly of its first full-scale eVTOL prototype which will be followed by a test campaign. Concurrently, Eve continues to develop a comprehensive portfolio of agnostic services and operations solutions, including Vector, a unique Urban Air Traffic Management software to optimize and scale Advanced Air Mobility operations worldwide.  

The Company has engaged Bradesco BBI as its exclusive financial advisor and Skadden, Arps, Slate, Meagher & Flom as its legal advisor.

The securities being sold in the equity financing have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements.  The Company has agreed to file a registration statement with the SEC covering the resale of the Shares and the shares underlying the Warrants issuable in connection with the Private Placement.  

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities. 

Image: https://eve.imagerelay.com/share/716f968f68a64c62894a7afc3ff7df22

About Eve

Eve is dedicated to accelerating the Urban Air Mobility ecosystem. Benefitting from a start-up mindset, backed by Embraer S.A.’s more than 50-year history of aerospace expertise, and with a singular focus, Eve is taking a holistic approach to progressing the UAM ecosystem, with an advanced eVTOL project, a comprehensive global services and support network and a unique air traffic management solution. Since May 10, 2022, Eve has been listed on the New York Stock Exchange, where its shares of common stock and public warrants trade under the tickers “EVEX” and “EVEXW.” For more information, please visit www.eveairmobility.com. 

Contacts:

Media: [email protected]   

Investors: [email protected] 

Forward-Looking Statement Disclosure

Certain statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,” “plan,” “project,” “could,” “should,” “would,” “continue,” “seek,” “target,” “guidance,” “outlook,” “if current trends continue,” “optimistic,” “forecast” and other similar words or expressions. All statements, other than statements of historical facts, are forward-looking statements, including, but not limited to, statements about the company’s plans, objectives, expectations, outlooks, projections, intentions, estimates, and other statements of future events or conditions, including with respect to all companies or entities named within. These forward-looking statements are based on the company’s current objectives, beliefs and expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position and timing of certain events to differ materially from the information in the forward-looking statements. These risks and uncertainties include, but are not limited to, those set forth herein as well as in Part I, Item 1A. Risk Factors and Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of the company’s most recent Annual Report on Form 10-K, Part I, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations and Part II, Item 1A. Risk Factors of the company’s most recent Quarterly Report on Form 10-Q, and other risks and uncertainties listed from time to time in the company’s other filings with the Securities and Exchange Commission. Additionally, there may be other factors of which the company is not currently aware that may affect matters discussed in the forward-looking statements and may also cause actual results to differ materially from those discussed. The company does not assume any obligation to publicly update or supplement any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward-looking statements. other than as required by law. Any forward-looking statements speak only as of the date hereof or as of the dates indicated in the statement.

SOURCE Eve Holding, Inc.

NEW YORK, July 1, 2024 — Lee Equity Partners, LLC (“Lee Equity”), a middle-market private equity firm, announces the final closing of Lee Equity Partners Fund IV, L.P. (together with its related funds, “Fund IV” or the “Fund”). Fund IV was oversubscribed and including the General Partner commitment achieved its hard cap with total capital commitments of approximately $1.3 billion, exceeding the $1.0 billion target. Fund IV added a diverse group of global investors including family offices, private and public pensions, funds of funds, sovereign wealth funds and insurance companies.

“In a challenging fundraising environment, we are incredibly grateful for the support of both our existing partners and a diverse group of new limited partners. The strong demand for Fund IV is a testament to the strength of our platform and the sector expertise of our team,” said Partner, Mark Gormley. “We believe that our thesis development and proactive deal sourcing allows us to find proprietary opportunities early in the private equity life cycle, which has historically delivered long-term capital appreciation to our investors and management partners.”

Fund IV continues the firm’s nearly two-decade history of investing in and partnering with middle market, growth-oriented companies. Fund IV will continue Lee Equity’s strategy of partnering with founders, entrepreneurs, and management teams to build market leading companies in the financial and healthcare services sectors.

Partner Danny Rodriguez, added, “We have completed four platform investments in Fund IV and continue to see compelling opportunities in our areas of focus in the financial and healthcare services sectors. We will continue to leverage our team, network of advisors and industry relationships to help our businesses achieve transformational growth through investments in people, processes, technologies and strategic acquisitions.”

Evercore Private Funds Group acted as global placement agent and Weil, Gotshal & Manges LLP acted as legal advisor.

About Lee Equity Partners

Lee Equity Partners, LLC is a middle-market private equity firm that partners with entrepreneurs, founders and management teams in the financial and healthcare services sectors. Over nearly two decades the firm has utilized its thematic based investment strategy and deep sector expertise to identify and partner with talented management teams to accelerate growth and build market leading businesses. Additional information is available at www.leeequity.com.

SOURCE Lee Equity Partners

With $29.5 million in total funding, the company has developed the world’s leading spatial biology platform, designed for breakthroughs in drug development, clinical diagnostics, agriculture, and food safety. This proprietary mapping technology will first be used to leverage the microbiome – a critical factor in human health – in order to manufacture a therapeutic with significant promise for improving outcomes in ICI-refractory cancers.

PRINCETON, N.J., July 1, 2024 — Kanvas Biosciences, a full-stack spatial biology company, today announced it has raised $12.5 million in additional funding co-led by existing investors DCVC and Lions Capital LLC, and participation from FemHealth Ventures, Germin8, Ki Tua Fund, and Pangaea Ventures as well as existing investors. Paul Theunissen, Managing Partner at Lions Capital Partners LLC, will join the company’s Board, and Ashlie L Burkart, MD, Chief Scientific Officer of Germin8 Ventures, will join as a board observer. The fresh capital closely follows a June 2023 round and brings Kanvas’s total funding to $29.5 million. The funding will be used to further develop the company’s spatial biology platform and advance two novel therapeutics in its Immuno-oncology Program, KAN-001 and KAN-003 — KAN-001 to an Investigational New Drug (IND) filing in 2025.

The Kanvas platform is unique in its ability to spatially map gene expression and cellular function across all kingdoms of life. Its unprecedented capability to illuminate host-microbiome interactions marks a significant advancement in understanding diseases related to the microbiomes, finally unlocking the promise of microbiome-based therapies. The platform provides not only a path to breakthroughs in drug development, but also clinical diagnostics, agriculture and food safety.

Kanvas Bioscience’s spatial biology platform provides the unique ability to map host-microbiome interactions and leverage the resulting data to design live biotherapeutic products (LBPs), which can be used to create novel microbiome-based therapies that optimize the microbiome – a critical factor in human health. KAN-001, the company’s lead drug candidate, is an LBP demonstrating significant potential to improve outcomes for cancer patients who have been resistant to immune checkpoint inhibitors (ICIs). Designed with the goal of increasing the percentage of patients who respond to ICIs across all ICI-approved cancer types, KAN-003 will be a defined consortium for cancer patients, administered just before starting ICI treatment. Kanvas is collaborating with The University of Texas MD Anderson Cancer Center and its Platform for Innovative Microbiome and Translational Research (PRIME-TR) to conduct additional preclinical studies for KAN-001 to optimize the drug’s formulation and prepare it for an IND filing in 2025, preparatory to recruiting the first patients for a clinical trial the same year.

“We have a remarkable opportunity to help patients by offering them an effective, novel therapeutic approach to some of the most common and debilitating conditions, starting with improving the efficacy of immunotherapy in the treatment of solid organ cancer. I’m so proud of the extraordinary progress the Kanvas team has already achieved,” said Matthew Cheng, co-founder and CEO of Kanvas Biosciences. “Because of this progress and with additional capital, Kanvas is positioned to accelerate its growth and build on its early success in illuminating host-microbiome interactions by launching a clinical pipeline of precision microbiome therapeutics.”

With a market expected to grow at a 21% CAGR to over $3 billion by 2031, LBPs are living microbes and can improve treatment outcomes for microbiome-addressable conditions, including solid organ cancer, inflammatory bowel disease and metabolic disorders. By acting in a synergistic and complementary manner to existing therapies, LBPs provide a safe method for targeting underlying disease processes, but through different pathways and with greater efficacy. Historical approaches to LBP development have generally focused on single strains of bacteria – which don’t have an appropriate ecosystem to add therapeutic value – or fecal microbiota transplants (FMTs), which are complex and consist of many bacterial strains, but are difficult to scale commercially, highly variable and cannot be optimized. Kanvas has demonstrated the ability to develop and manufacture complex microbial consortia of 148 bacterial strains, providing the benefits of a complex community with multiple mechanisms of action, which make LBPs more effective.

“Not only does Kanvas’s spatial biology platform offer much-needed discovery capabilities, it also now enables the manufacturing of complex LBPs as a therapeutic modality. KAN-001 and KAN-003 have the potential to be breakthrough, complementary therapeutics for ICI-refractory and ICI-naive cancers,” said Jason Pontin, General Partner at DCVC and chair of Kanvas’s board. “By providing the missing link between microbiome drug design rationale and therapeutic outcomes, Kanvas has the unique and exciting ability to provide a better mechanistic understanding of microbiome-addressable conditions, and ultimately improve clinical success for the next generation of LBPs.”

“I’m thrilled to support Kanvas’s mission as a board observer,” remarked Dr. Burkart, Germin8’s Chief Scientific Officer and a board-certified pathologist specializing in gastrointestinal pathology. “Their exceptional team and groundbreaking technology will revolutionize our understanding of host-microbiome interactions, driving transformative discoveries in human health and beyond. This tool isn’t just relevant for human health; it holds promise for sectors like animal health and agriculture. Understanding microbes in these areas is vital for global health and sustainability.”

The past 12 months have been a period of momentous growth for Kanvas. This fall, the company opened a new research laboratory and drug manufacturing facility in South San Francisco. Kanvas also recently expanded its leadership team: Lee Swem, formerly Federation Bio’s Chief Science Officer, joined Kanvas as Chief Development Officer, Steve Kujawa, who previously led business development at 10x Genomics, joined as Vice President of Business Development, and Kevin Cutler joined the company as Lead Scientist with expertise in AI. Swem is driving the execution of Kanvas’s LBP portfolio, with a focus on KAN-001, and Kujawa is leading partnerships for the company’s spatial biology platform and licensing of non-core LBP assets. Cutler is spearheading the curation of a state-of-the-art training database for machine learning segmentation of microbes, development of deep learning models for spectral identification of microbes, and integration of advanced AI into the company’s analytical platform.

For more information on Kanvas Biosciences or to inquire about pharmaceutical discovery partnership opportunities, visit https://www.kanvasbio.com/.

About Kanvas Biosciences
Kanvas Biosciences is a spatial biology company building the world’s first microbiome drug screening, discovery and manufacturing platform to accelerate the development of next generation live biotherapeutics. With an unparalleled ability to spatially map the microbiome and profile host gene expression, and manufacture complex consortia containing hundreds of members that can restore microbiome health, the company is uniquely positioned to develop novel therapeutics that can significantly improve the lives of all patients living with microbiome-associated diseases. Kanvas Biosciences’ technology was initially developed at Cornell University and exclusively licensed. The company’s notable investors include DCVC, Lions Capital LLC, FemHealth Ventures, Germin8, Ki Tua Fund, and Pangaea Ventures. Kanvas Biosciences is headquartered in Princeton, NJ. For more information, visit www.kanvasbio.com or follow the company on LinkedIn.

SOURCE Kanvas Biosciences

This Private Placement Investment Comes in Addition to a $5 Million Investment from Core 4 Capital Corp Which Closed in April

JUPITER, Fla., June 28, 2024 — Safety Shot, Inc. (Nasdaq: SHOT) (the “Company) is pleased to announce that Safety Shot President Jordan Schur has invested in a $1 million private placement in the Company through his family investment group, Core 4 Capital Corp. The investment is in addition to the $5 million private placement from the investment group that closed in April of 2024 upon Schur’s appointment as President of the Company.

Safety Shot raised gross proceeds of $1 million from the issuance of 943,396 shares at a price of $1.06 per share, the closing price of the Company’s common stock with no discount. No warrants were attached in the terms of the Offering. Safety Shot paid no commissions in connection with the financing and incurred minimal expenses. This is compared to most offerings that result in less than 90% of the proceeds actually going to the Company.

“I’ve seen promise in this company from the very beginning and I’m excited about the progress that I’ve seen over the last four months,” said Schur. “Safety Shot’s growth trajectory is a testament to the innovation of our product and the demand for this type of solution in the market and I can’t see a better use of my family’s funds than to help the continued advancement of the Company in these early stages.”

About Safety Shot, Inc

Safety Shot, Inc., a wellness and dietary supplement company, has developed Safety Shot, the first patented wellness product on Earth that lowers blood alcohol content by supporting its metabolism, while boosting clarity, energy and overall mood. Safety Shot is available for purchase online at DrinkSafetyShot.com and Amazon. The Company is introducing business-to-business sales of Safety Shot to distributors, retailers, restaurants, and bars throughout 2024.

SOURCE Safety Shot

VICTORIA, Seychelles, June 28, 2024 — Leading Web3 wallet and DeFi platform Bitget Wallet has announced a joint investment with crypto investment firm Foresight X in Tomarket, a decentralized trading platform for emerging asset classes.

Developed by industry experts from prestigious firms with the likes of Binance and Microsoft, Tomarket is designed to address markets and user needs beyond those already provided for by conventional decentralized exchanges (DEXs). The platform facilitates the trading of Real World Assets (RWA), crypto asset yields swap, crypto points, pre-TGE assets, and other new asset types, thereby enhancing liquidity and value discovery in these sectors.

With an end goal of tapping into the immense trillion-dollar market occupied by these new narratives, Tomarket will first be available to users as a Telegram mini-app when it officially launches in July, providing users with a convenient and user-friendly entry point into this innovative platform.

The year 2024 marks a significant phase of growth for the crypto industry, catalyzed by the Bitcoin halving together with the Bitcoin ETF approval by the SEC. This period of growth also saw the emergence and burgeoning growth of various new asset classes and narratives, such as crypto project points trading, pre-TGE tokens, RWA assets, and interest rates on digital assets. These new assets possess substantial trading potential and demand, yet they face challenges such as poor liquidity and high transaction trust costs. Moreover, the current market lacks a comprehensive, one-stop platform to meet the trading needs of these new assets. Tomarket was specifically created to address these challenges and unlock the full potential of these assets.

Expressing enthusiasm for this collaboration, Alvin Kan, COO of Bitget Wallet, stated that “Trading has always been at the heart of the crypto industry. Beyond traditional token assets, new asset types such as RWAs and points deserve significant attention.”

He continues that Bitget Wallet will remain steadfast in its commitment to addressing the evolving needs of its users: “Through our investment and product collaboration with Tomarket, we aim to explore and develop markets beyond traditional DEXs, driving the growth of new crypto asset trading, thus cementing our dedication to catering to new user needs as they present themselves.”

In a strategic move earlier this year, Bitget Wallet announced the introduction of the Bitget Onchain Layer, an intermediary layer designed to help users navigate the complex Web3 ecosystem. This layer serves as an on-chain extension and a decentralized future of the entire Bitget ecosystem. As the first ecosystem partner of the Bitget Onchain Layer, Tomarket will be deeply integrated into Bitget Wallet. This development will also observe the additional expansion of use cases for BWB, the wallet’s own native token, as this strategic partnership with Tomarket marks the beginning of a series of sustained ecosystem growth and user engagement for all Bitget Wallet users.

About Bitget Wallet

Bitget Wallet is Asia’s largest and a leading global Web3 wallet with over 20 million users worldwide. It offers a comprehensive range of features, including asset management, intelligent market data, swap trading, launchpad, inscribing, NFT, DApp, and token earning center. Currently, it supports more than 100 major blockchains, hundreds of EVM-compatible chains, and over 250,000 cryptocurrencies. Bitget Wallet enhances liquidity by aggregating it across hundreds of top DEXs and cross-chain bridges, facilitating seamless trading on nearly 50 blockchains.

For more information, visit: Website | Twitter | Telegram | Discord

SOURCE Bitget

The Venture Capital Firm Set to Expand Investments in Innovative Healthcare Companies

NEW YORK, June 27, 2024 — Zoi Capital, a venture capital firm specializing in artificial intelligence (AI) solutions for healthcare, was founded by Mayo Clinic-trained cardiologist Dr. Ronald M. Razmi and Brian K. Beeler, former Executive VP and General Counsel of Horizon Therapeutics. The co-founders and Managing Directors share more than 50 years of experience in the medical technology field and have been responsible for more than $30 billion in exits via public markets and acquisitions. Announce their fundraising goal of $200 million for their Health AI Fund I.

Zoi Capital was conceptualized after a former G7 Nation Head of State reached out to Dr. Razmi for help in evaluating how AI can increase access to high-quality healthcare. The conversation illuminated the need for experts with deep health AI expertise to drive the selection of the best use cases for funding. In the United States, the stakes are especially high because if the U.S. healthcare sector were a country, its $4.5 trillion size would rank as the fourth largest in the world, surpassing Japan’s entire economy.

“Much of the investment in the emerging health AI sector has gone into use cases that have a hard time gaining traction,” said Dr. Razmi. “This is due to a myriad of issues such as unproven economic benefits to the buyers, use cases not being ready for prime time, and inadequately trained AI models. You now need a new breed of investors who have clinical and operating experience with these technologies in healthcare to direct capital to the best companies” Razmi notes.

Against a backdrop of the recent decline in fundraising by venture funds and startups, Zoi Capital’s founders believe that a new approach to private market investing is needed. Brian Beeler noted “We believe high returns on capital will be earned by specialist investors with a deep focus on one sector. To that end, Zoi has assembled a team of digital health operators and investors to pursue this opportunity.” Zoi leverages its deep relationships with the leading medical institutions to secure deal flow and uses a set of proprietary score-cards for selecting the best companies. The Zoi team utilizes its extensive past operating experience in supporting their portfolio companies to formulate the optimal commercialization strategy and scale up.

For more information, please visit: www.zoicap.com

About Zoi Capital

Zoi Capital is a thematic venture capital firm that specializes in the growing applications of artificial intelligence in healthcare.

Led by Brian K. Beeler, a former life science company executive that has been involved with managing multiple corporate venture funds and over $7 billion in transactions, and Dr. Ronald M. Razmi, former Cardiologist, McKinsey consultant, CEO of Acupera, and author of the new book, AI Doctor: The Rise of Artificial Intelligence in Healthcare, the firm’s competitive advantages include cross-functional expertise in practicing medicine, operating successful digital health companies, and investing in medical technologies.

With the help of their proprietary investment platform, AI Doc, Zoi Capital is able to find and select companies with technologies that provide immediate benefit to healthcare stakeholders while solving for the unique friction points that usually derail or delay adoption. While relationships with top academic medical centers provide access to unique deal flow, Zoi plays an active role in improving the product road map, optimizing commercialization strategy, and facilitating faster exits.

Press Contact:

Michelle Moskowitz
917-597-0863

SOURCE Zoi Capital

MINNEAPOLIS, June 27, 2024 — Pear Commerce, the retail ecommerce enablement platform for omnichannel brands, announced today that it has closed a $10 million Series A funding round. The round was led by Stage 2 Capital, following exceptional 5x year-over-year growth and Pear’s role in powering the shoppable experiences for five of the top 20 CPG companies. Additional participation in the round includes Heartland Ventures, Homegrown Ventures, Dundee Venture Capital, M25, and Daren Cotter.

Modern consumers expect an omnichannel shopping experience that bridges channels, platforms, and devices. Pear builds all of a brand’s digital paths to purchase from brand.com and brand media to retail.com seamlessly. Pear’s technology uniquely creates shoppable experiences to over 3,000 retailers and 165,000 store locations–updating inventory daily–creating frictionless paths to purchase while capturing actionable insights on consumer behavior.

Owning the digital paths to purchase enables brands to understand the key drivers of performance and optimize their marketing budgets around crucial events such as clicks, retailer selections, and purchase confirmations. Plus, Pear integrates with all major ad platforms so brands can build owned custom audiences of these retail ecommerce shoppers, improving their return on ad spend.

The funding follows Pear’s most recent product launch, Pear Connect—a shoppable ad unit that integrates where-to-buy technology directly into the ad itself, bridging shoppers from CPG brands’ digital ads to retailer websites in a single click. Pear Connect enhances existing social and display ad creative by dynamically serving the in-stock product and retailer combinations most likely to be selected, using Pear’s daily inventory scanning technology and the ad platforms’ algorithms. Pear will continue to own the digital paths from brand to retailer with the introduction of its new recipe product, further solidifying its position on creating seamless shoppability for brands.  

“Our vision is to empower CPG brands with the same transparency and efficiency that direct-to-consumer brands enjoy,” said Eric Martell, Co-founder of Pear Commerce. “This funding will help us grow our team and enhance our technology to provide exceptional support and insights for our clients, ensuring that every marketing dollar is optimized for maximum impact.”

“Pear’s technology is fundamentally changing the way CPG brands engage with consumers, making it easier for them to meet their customers wherever they prefer to shop,” stated Alex Wyler, Co-founder of Pear Commerce. “With this investment, we’re excited to expand our product development and provide more brands with the comprehensive data and insights needed to drive meaningful growth.”

The Series A funding round aligns with Pear’s commitment to continue innovating and expanding its platform, in order to meet the evolving needs of CPG brands, retail partners, and their customers. New initiatives and product launches are on the horizon, poised to further enhance the retail ecommerce landscape.

“Pear Commerce is transforming how brands connect with consumers in the retail ecommerce space,” said Liz Christo, Partner at Stage 2 Capital. “Their cutting-edge technology and commitment to innovation are setting new benchmarks for the industry. We are excited to support Pear’s journey as they expand and redefine how the market thinks about shoppable media.”

The Series A investment will accelerate Pear Commerce’s mission to make everything shoppable and unlock the direct-to-consumer marketing playbook for CPG brands. The funding will be used for product development, market expansion, and hiring, including the addition of three key positions: Vice President of Sales, Vice President of Engineering, and Head of Customer Success.

About Stage 2 Capital

The first go-to-market venture capital firm, Stage 2 Capital combines capital and GTM execution expertise, leveraging its elite LP base of 600+ senior executives from unicorns and Fortune 500 firms to help portfolio companies scale revenue and accelerate growth. Co-founded in 2018 by Jay Po, former investor at Bessemer Venture Partners, and Mark Roberge, former Founding CRO at HubSpot, Stage 2 Capital invests in B2B software companies between seed and Series A.

For more information, visit: www.stage2.capital.

About Pear Commerce

Founded in 2018 by Eric Martell and Alex Wyler, Pear Commerce connects CPG brands to retailers, converting shoppable tools into actionable insights that fuel performance marketing. Today, Pear’s comprehensive suite of shoppable products includes: Pear Connect, Store Locators, Shoppable PDPs, Landing Pages, and Direct-to-Cart Links.

Learn more at www.pearcommerce.com.

For media questions or inquiries, please contact Pear Commerce at [email protected].

For more information on Pear’s open roles, please visit www.pearcommerce.com/careers.

SOURCE Pear Commerce

CHICAGO, June 27, 2024 — ProperXPM, the leader in tech-enabled experiential property management, is excited to announce a significant expansion backed by funding of up to $100 million. This strategic roll-up of multifamily property management companies aims to revolutionize the property management landscape across the United States.  The company has already completed multiple transactions since its inception in December of 2023. The initiative is supported by private equity firm TriSpan and powered by Livly^®, the industry-leading PropTech operating system.

Transforming Property Management with Technology and Efficiency

ProperXPM is dedicated to delivering low-cost, high-efficiency management solutions that free up time and resources for property owners. By leveraging advanced technology and centralized support, ProperXPM enhances the resident experience while significantly increasing net operating income.

“ProperXPM is setting a new standard in property management,” said Brian Duggan, CEO of ProperXPM. “Our tech-forward approach not only optimizes operations but also enriches the resident experience, creating value for property owners and investors alike.”

Key Benefits of ProperXPM’s Tech-Forward Approach:

• Higher Rent and Increased Resident Retention: Innovative solutions drive higher rental rates and foster a sense of community, leading to improved retention.
• Enhanced Efficiency and Additional Revenue Streams: Centralized back-office support and streamlined processes boost staff efficiency and unlock new revenue opportunities.
• Significant NOI Growth: Asset owners can expect a 5-10% increase in NOI through increased revenue and operational efficiency.

Nationwide Expansion with Proven Leadership

ProperXPM’s leadership team is committed to excellence and innovation, inspiring confidence and fostering resilience. The team’s proven track record is further strengthened by TriSpan’s history and successful backing of DHV Plus, Germany’s leading residential property management platform.

Opportunity for Property Management Companies/Asset Owners

Property management companies and asset owners with a management company arm interested in joining ProperXPM’s platform are offered unique opportunities for immediate liquidity and long-term value creation through an optional co-investment. For asset owners, ProperXPM values long term branding and offers a white-label marketing program to maintain consistent resident engagement under the property owner’s brand voice.

About ProperXPM
Founded in December 2023, ProperXPM is a private equity-backed consolidation platform in the multifamily property management sector. Committed to offering a unique resident experience, ProperXPM drives value by enhancing building operations and boosting Net Operating Income (NOI) for property owners through its experiential property management (XPM) services. Poised for national expansion through acquisition, ProperXPM provides selling business owners an opportunity for immediate liquidity as well as further upside and long-term value creation through a partnership model underpinned by shared ownership of the platform. Learn more at properxpm.com.

About TriSpan
Founded in 2015, TriSpan is a private equity firm with offices in New York and London that invests in lower middle market companies in North America, Europe, and the United Kingdom with annual revenues typically ranging from $20-100 million and/or EBITDA of $2-20 million. TriSpan is committed to creating value through using a combination of deep operational and financial resources to accelerate growth and drive improved performance. Since inception, the firm has completed 22 platform investments, as well as over 85 bolt-on acquisitions for its portfolio companies. For more information, please visit the firm’s website at www.trispanllp.com.

SOURCE ProperXPM