New funding will be used to scale care model with demonstrated impact on maternal and infant outcomes

NEW YORK, June 20, 2024 — Pomelo Care, a virtual medical practice that improves maternal and newborn health outcomes, announced $46 million in Series B financing led by existing investors First Round Capital and Andreessen Horowitz (a16z) Bio + Health. Pomelo will use this funding to accelerate its partnerships with payors across the country to address the root causes of the maternal health crisis.

1 in 10 babies born in the US today start their life in a neonatal intensive care unit. US maternal morbidity and mortality rates are higher than peer countries, and the disparities in outcomes for people of color are unacceptable. Healthcare access continues to worsen, with 1 in 8 births occurring in U.S. counties with limited-to-no access to maternal care. Due to significant gaps in postpartum care, about half of pregnancy-related deaths in the U.S. occur after hospital discharge.

The evidence exists for how to identify people at highest risk for complications and which interventions are most effective, but existing data gaps and provider capacity challenges make it extremely difficult to apply these interventions at scale.

Pomelo has developed a care model that addresses these challenges by analyzing claims and health record data to proactively identify individual risk factors and providing virtual pregnancy, postpartum, and infant care to patients nationwide to reduce those risks, dramatically increasing access to high-quality, evidence-based care and improving outcomes.

“It’s rare to come across an opportunity where the incentives between patient, provider and payor are all aligned,” said Josh Kopelman, Partner at First Round Capital and Pomelo board member. “Marta and the Pomelo team have found an incredible opportunity to dramatically improve outcomes for the highest risk populations, while helping payors reduce their avoidable costs.”

Pomelo has achieved significant milestones this year including:

• $46 million in financing: The company today announced $46 million in Series B financing, bringing total funding to $79 million. The Series B was led by existing investors First Round Capital and a16z. Stripes joined this round along with additional participation from existing investors SV Angel, Operator Partners and BoxGroup. They join angels and healthcare industry leaders Adam Boehler, Founder and Managing Partner of Rubicon Founders, Former Director of the Center for Medicare and Medicaid Innovation (CMMI), and Founder of Landmark Health and Puneet Singh, CEO of CareBridge.
• Covering over 3 million lives: Since the beginning of 2024, Pomelo has grown its covered lives with health plan partners from 2 million to over 3 million, providing care to patients in 46 states.
• Published peer-reviewed data proving improvement in clinical outcomes: Pomelo presented new research at the 2024 ACOG Clinical & Scientific Meeting showing that Pomelo’s telemedicine care dramatically scales critical interventions that reduce the leading causes of maternal morbidity and mortality in a Medicaid population – hypertensive disorders like preeclampsia and mental health conditions. Pomelo’s care model increased rates of evidence-based aspirin prophylaxis by 2.4x, proven to reduce preeclampsia risk by 25%, and mental health screening rates by 7x, proven to reduce perinatal depression risk by 40%. This fall, Pomelo will present data at both the Society for Maternal-Fetal Medicine Global Congress and the American Academy of Pediatrics National Conference & Exhibition showing reductions in avoidable emergency room, inpatient, and NICU utilization as a result of Pomelo’s care.

“We’ve long known what works to reduce maternal and infant complications. The questions have always been: can you identify the patients who are at highest risk, can you deeply engage them in care to drive uptake of the prevention strategies we know work, and can you do it in the highest risk populations with the most limited access to care?” said Marta Bralic Kerns, Founder & CEO of Pomelo Care. “This data demonstrates that we absolutely can. And with this additional funding, we’ll have the opportunity to scale our care model to more pregnant people across the country.”

“Pomelo is one among a small set of health tech companies that have earned true scale,” shared Vineeta Agarwala, MD, PhD, General Partner at a16z Bio + Health and Pomelo board member. “This scale is evident in our partnerships with major Medicaid and commercial plans covering over 3 million lives, which create the opportunity to collaborate with OB providers, labor and delivery wards, and NICUs nationwide, while serving hundreds of thousands of expecting mothers and newborns with high quality, technology-enabled care.”

About Pomelo Care
Pomelo Care is a virtual medical practice that addresses underlying risk factors to improve maternal and newborn health, increase access to care and reduce avoidable costs. The company supports its patients from preconception through an infant’s first year with personalized and proactive 24/7 care from a dedicated, multispecialty team. Pomelo works with leading commercial and Medicaid health plans and employers including Penn Medicine, Koch Industries and Elevance Health affiliated plans in Texas, Tennessee, Kentucky and Georgia. Pomelo Care is backed by Andreessen Horowitz, First Round Capital, Stripes, BoxGroup, Operator Partners, SV Angel and Allen & Company LLC. For more information, visit www.pomelocare.com/.

Media Contact:
Sara Crow
[email protected]

SOURCE Pomelo Care

Bolsters Company’s Corporate Mission

Financing Led by Board Member and Priced at Premium to Market Price

WEXFORD, Pa., June 20, 2024 — Coeptis Therapeutics Holdings, Inc. (Nasdaq: COEP) (the “Company” or “Coeptis”), a biopharmaceutical company developing innovative cell therapy platforms for cancer, autoimmune, and infectious diseases, is pleased to announce that it has closed on $4.3 million in a financing led by CJC Investment Trust, an entity controlled by board member Christopher Calise.

Under the terms of the financing, the Series A Preferred is convertible into shares of the Company’s common stock at a price of $0.40 per share, subject to limitations. The investors also received in the aggregate a 6.45% equity interest in two of the Company’s newly formed subsidiaries, SNAP Biosciences Inc. and GEAR Therapeutics Inc.

Dave Mehalick, President and CEO of Coeptis Therapeutics said, “We are grateful for the continued support from our investors, particularly in these transformative times for Coeptis Therapeutics. These individuals share our passion and long-term vision for Coeptis, and their support goes beyond investment, reflecting a focus on the Company’s future.”

“This financing comes at an opportune moment as we are anticipating several significant near-term milestones. The commitment from our investors not only strengthens our balance sheet but also bolsters our innovative cell therapy platforms and long-term growth prospects.”

Proceeds from this financing will be allocated towards repayment of outstanding obligations, working capital, and general corporate purposes.

About Coeptis Therapeutics Holdings, Inc.
Coeptis Therapeutics Holdings, Inc., together with its subsidiaries including Coeptis Therapeutics, Inc. and Coeptis Pharmaceuticals, Inc., (collectively “Coeptis”), is a biopharmaceutical company developing innovative cell therapy platforms for cancer, autoimmune, and infectious diseases that have the potential to disrupt conventional treatment paradigms and improve patient outcomes. Coeptis’ product portfolio and rights are highlighted by assets licensed from Deverra Therapeutics, including an allogeneic cellular immunotherapy platform and DVX201, a clinical-stage, unmodified natural killer cell therapy technology. Additionally, Coeptis is developing a universal, multi-antigen CAR T technology licensed from the University of Pittsburgh (SNAP-CAR), and the GEAR cell therapy and companion diagnostic platforms, which Coeptis is developing with VyGen-Bio and leading medical researchers at the Karolinska Institutet. Coeptis’ business model is designed around maximizing the value of its current product portfolio and rights through in-license agreements, out-license agreements and co-development relationships, as well as entering into strategic partnerships to expand its product rights and offerings, specifically those targeting cancer and infectious diseases. The Company is headquartered in Wexford, PA. For more information on Coeptis visit https://coeptistx.com/.

Cautionary Note Regarding Forward-Looking Statements
This press release and statements of our management made in connection therewith contain or may contain “forward-looking statements” (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events or performance, and underlying assumptions, and other statements that are other than statements of historical facts. When we use words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, we are making forward-looking statements. Forward-looking statements are not a guarantee of future performance and involve significant risks and uncertainties that may cause the actual results to differ materially and perhaps substantially from our expectations discussed in the forward-looking statements. Factors that may cause such differences include but are not limited to: (1) the inability to maintain the listing of the Company’s securities on the Nasdaq Capital Market; (2) the inability to recognize the anticipated benefits of the Deverra licensed assets, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth economically and hire and retain key employees; (3) the risks that the Company’s products in development or the newly-licensed assets fail clinical trials or are not approved by the U.S. Food and Drug Administration or other applicable regulatory authorities; (4) costs related to ongoing asset development including the Deverra licensed assets and pursuing the contemplated asset development paths; (5) changes in applicable laws or regulations; (6) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; and (7) the impact of the global COVID-19 pandemic on any of the foregoing risks and other risks and uncertainties identified in the Company’s filings with the Securities and Exchange Commission (the “SEC”). The foregoing list of factors is not exclusive. All forward-looking statements are subject to significant uncertainties and risks including, but not limited, to those risks contained or to be contained in reports and other filings filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings made or to be made with the SEC, which are available for review at www.sec.gov. We undertake no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof unless required by applicable laws, regulations, or rules.

Contacts
Coeptis Therapeutics, Inc.
[email protected]

SOURCE Coeptis Therapeutics

MADRID, June 20, 2024 — EOS-X SPACE, the first European space exploration company, of Spanish origin, faces the last half of 2024 in a decisive way to complete its start-up and mark a historic milestone for Spain in this incipient industry, which currently represents a market of more than 9 billion dollars in revenues. Kemel Kharbachi´s company, founder and CEO, is finalizing the development of the Spaceship capsules, the necessary validation tests -which will take place soon- together with military pilots, and the the collaboration of the National Institute for Aerospace Technology (INTA). The aim is to start operating flights both in Seville, the company’s headquarters in Spain, and in Abu Dhabi, around the third quarter of 2025. In total, the company will have invested more than 230 million dollars in engineering and development in both countries.

The company is currently in the midst of a €115 million Series D investment round led by US investment bank FTI Capital Advisor.

A SUSTAINABLE AND SAFE CAPSULE FOR EXPERIENTIAL TRAVEL

This project, a pioneer in both Spain and Europe, started in 2020 and has important differences with respect to other space tourism companies. EOS-X SPACE’s pressurized capsules, with a capacity of eight people (including a pilot), are propelled by a non-polluting helium balloon. They reach the limits of the stratosphere, which means an altitude of 40,000 meters, allowing their space tourists to enjoy superb views for five hours. The price per passenger will range between 150,000 and 200,000 euros. In addition, in the case of Spain, EOS-X SPACE will have a spectacular SpaceHub Complex in La Isla de la Cartuja (Seville), where immersive experiences will be developed, as well as an ultra-luxury hotel in the province of Seville where customers will enjoy pioneering treatments and experiences.

A PROFITABILITY OF 220 % IN FIVE YEARS

Thanks to the potential of this new way of doing tourism – with a current market of US$9 billion – the company has solid scalability forecasts and expects revenue growth of 220% in five years.

Contact:

Rosalia Martinez 
[email protected]

Photo – https://mma.prnewswire.com/media/2443642/EOS_X_SPACE.jpg

SOURCE EOS-X SPACE

• Led by new investor Syncona, with participation from the European Innovation Council Fund as well as existing investors
• To progress pipeline of innovative, first-in-class, oral cancer treatments targeting neglected and hard-to-treat cancers
• To accelerate development of lead asset roginolisib for treatment of uveal melanoma and a number of other oncology indications

GENEVA and AMSTERDAM, June 20, 2024 — iOnctura, a clinical-stage biopharmaceutical company combating neglected and hard-to-treat cancers, today announces that it has closed an EUR80 million Series B financing. The funding round was led by new investor Syncona Limited with participation by the EIC Fund, the venture arm of the European Innovation Council (EIC), as well as existing investors M Ventures, Inkef Capital, VI Partners, Schroders Capital and 3B Future Health Fund.

iOnctura is developing a portfolio of precision oral small molecules that target cancers in novel ways. The bold new treatments extend lives and improve healthspans, changing the outlook for patients and their families. The Company has progressed two therapeutic candidates into mid-stage clinical development.

Lead asset roginolisib is the first allosteric modulator of PI3Kδ, with a unique chemical structure and binding mode. It is being developed for indications burdened by immune mediated resistance and a high expression of PI3Kδ in cancer cells and tumor-infiltrating immune cells. Roginolisib has potential to become the first successful, clinically meaningful therapy to target the critical PI3Kδ cancer pathway. It has demonstrated an unprecedented and first-in-class clinical profile in solid and hematological malignancies, with over 48 patients treated to date. 

The financing will be used to accelerate development of roginolisib for the treatment of uveal melanoma (UM), a rare cancer of the eye with few available treatments. Eye melanoma is a rapidly growing market which is projected to be worth USD 9.56B by 2032^[1] . In a Phase Ib clinical trial, roginolisib demonstrated long-term safety and promising efficacy in UM with sustained clinical activity over many months. Full results will be announced in the coming months. 

The successful UM data reported so far, combined with a rich preclinical data package, supports the rationale to expand into other indications. iOnctura plans to commence trials in other cancer indications, including non-small cell lung cancer and primary myelofibrosis, later in 2024.

iOnctura’s second clinical asset, cambritaxestat, is the only autotaxin inhibitor in clinical development to treat cancer. It has excellent potency and specificity, and is being developed for highly fibrotic tumors that overexpress autotaxin. A Phase Ib study of cambritaxestat in combination with chemotherapy in metastatic pancreatic cancer is ongoing.

Catherine Pickering, Chief Executive Officer, iOnctura, said: “This financing is validation of iOnctura’s approach to developing precision cancer treatments with maximum clinical impact. These therapies have the potential to significantly prolong the healthspan of patients suffering with neglected cancer types, such as uveal melanoma. We are pleased to welcome our new investors Syncona and the EIC Fund alongside our existing strong syndicate. Their experience will be invaluable as we look to advance our pipeline and take iOnctura to its next stage of growth.”

Roel Bulthuis, Managing Partner and Head of Investments at Syncona and Board member of iOnctura, added: “iOnctura represents a compelling opportunity to invest in line with our strategy and capital allocation focus in a clinical-stage company, and take a promising lead programme through to late-stage development. To date, no company has been able to successfully target this well-known cancer pathway with sufficient precision. By allosterically modulating PI3Kδ, iOnctura has achieved a new level of precision and could be the first company to develop a clinically meaningful medicine targeting this pathway. Its programmes have potential utility across a range of cancers, which we are supporting the company to unlock through a refined clinical strategy.”

About iOnctura

iOnctura is a clinical-stage biopharmaceutical company combating neglected and hard-to-treat cancers with precision oral small molecules that target cancers in novel ways. The bold new treatments extend lives and improve healthspans, changing the outlook for patients and their families. Two therapeutic candidates have progressed into mid-stage clinical development: roginolisib is the first allosteric modulator of PI3Kδ and cambritaxestat is the only autotaxin inhibitor in clinical development to treat cancer. iOnctura BV is headquartered in Amsterdam, The Netherlands with its wholly owned Swiss subsidiary, iOnctura SA, located in Geneva, Switzerland. iOnctura is backed by specialist institutional investors including Syncona, EIC Fund, M Ventures, Inkef Capital, VI Partners and Schroders Capital.

About roginolisib

Roginolisib is the first allosteric modulator of PI3Kδ with a unique chemical structure and binding mode. The PI3K signalling pathway is one of the most commonly dysregulated pathways in cancer and the precise targeting of the PI3Kδ isoform delivers substantial anti-tumor effects with a low-toxicity profile. Clinical data have demonstrated roginolisib’s excellent safety profile and sustained clinical activity in uveal melanoma (UM), a rare eye cancer with few available treatments. Randomized Phase II trials are planned to start in late 2024 in UM and other cancers, including non-small cell lung cancer and primary myelofibrosis.

About cambritaxestat

Cambritaxestat is a first-in-class autotaxin inhibitor that has shown preclinically to inhibit the growth and proliferation of cancer cells, stimulate immune cell infiltration and inhibit the development of fibrosis. It offers a new therapeutic approach for treating highly fibrotic hard-to-treat tumors such as pancreatic cancer. A Phase Ib study of cambritaxestat in combination with chemotherapy in metastatic pancreatic cancer is ongoing.

[1] Emergen Research, Jan 2024

SOURCE iOnctura

RALEIGH, N.C., June 19, 2024 — Megamod, a massive multiplayer gaming platform, has raised $1.9 million at a post-money valuation of $27 million. The funds will be used to support the company’s go-to-market strategy, including testing a retention and monetization model.

The round was led by investors and funds with deep backgrounds in business and entrepreneurship including Xsolla’s founder Alexander Agapitov and his family fund Hand of Midas, as well as Rubylight Fund and other private investors. 

Megamod is a UGC platform designed for creators with limited development expertise and players seeking massive multiplayer experiences.

Launched in early 2023 to make game design tools easier to use, Megamod has proven its ability to create games 200-300 times more cost-effectively and faster than any traditional development company. The cost of creating a unit of content on the platform is approximately $5. For the last 6 months Megamod has networked over 2,000 creators who have created over 60,000 games.

In a world where games are becoming plentiful, the main challenge for publishers is to keep players engaged by providing them with engaging and accessible content. Megamod is demonstrating its ability to meet this challenge, as evidenced by its listing on popular gaming portals like Y8 and CrazyGames. In just two weeks on CrazyGames, Megamod’s games have been rated 8.8 based on over 21,000 reviews and have been enjoyed by over 340,000 players.

The availability of the games is also ensured by our Megamod app (MegaBit) which focuses on retention and social interaction. Megamod’s multiplayer capabilities allow thousands of players to interact spend time together. The platform provides robust web and mobile crossplay, which has already resonated with hundreds of streamers who have been raffling off prizes and playing game shorts, (games excerpts with a 30-second time limit), alongside their audiences.

Megamod is the only UGC platform with game creators at its heart. Frequently in the game industry, the role of the creator is forgotten. Games are often seen as a product of a company rather than a reflection of the creator’s vision. Megamod aims to change this by showcasing the creators of each single game and demonstrating that, in the age of AI and simplified tools, releasing the final product is a matter of hours, not months or years.

CONTACT: Georgy Pulyaevsky, [email protected]

SOURCE Megamod

AUSTIN, Texas, June 19, 2024 — MeetRecord, a leading Revenue Automation Platform specifically designed for the service sector, today announced it has successfully secured $2.7 million in Pre-Series A funding. This investment round was led by SWC Global, a venture capital fund based in Singapore, with additional support from existing investor All In Capital.

MeetRecord’s innovative platform utilizes AI to analyze conversation data across various communication channels, such as emails and calls. This allows the company to offer personalized coaching programs and implement automated call-scoring systems that have proven to save time and improve efficiency significantly.

“Service businesses, including law firms, financial advisory services, fitness consultants, and homecare providers, have been looking for tailored solutions that cater to their unique needs. Unlike other platforms that target the enterprise or tech-centric markets, MeetRecord provides a customized experience that effectively addresses the gap in the service industry,” stated Snehal Nimje, Co-founder & CEO MeetRecord.

One of the notable advantages of MeetRecord’s platform is its deal intelligence capability, which delivers distinct insights to Chief Revenue Officers (CROs). “These insights include monitoring market trends, analyzing competitor perceptions, and identifying successful patterns to expedite deal closure,” said Sachin Sinha, the sales head at MeetRecord.

According to Chris Collins from TopDogLaw, “The automated scoring system has cut down the time managers spent by 90%, enabling more effective call monitoring and coaching.” MeetRecord’s technology is also highly regarded by its clients for ensuring standard adherence and managing timelines efficiently during customer interactions. Alex Harmozi, from GymLaunch, shared that “MeetRecord is integral for their team of over 40 members, enhancing process compliance and customer engagement.”

“We expect strong growth in the conversation intelligence market as companies aim to enhance their sales efficiency. MeetRecord, with its innovative focus on revenue automation, has developed a top-tier product that delivers significant value. We are confident in their path to market leadership and are excited to support their continued growth.” – Tuck Lye Koh, Founding Partner, SWC Global

With this latest round of funding, MeetRecord is poised to further its mission of empowering revenue teams with AI-enhanced tools, allowing them to focus more on sales and customer engagement with enhanced visibility into their operations.

For more information, visit https://www.meetrecord.com

About MeetRecord

MeetRecord‘s Revenue Intelligence Solution empowers Sales teams with streamlined deal flow, intuitive pipeline visualization, and personalized AI coaching. It enhances sales collaboration, accelerates deal conversion, offers visibility into conversations, and provides comprehensive deal summaries, ensuring peak performance.

About SWC

SWC is a global venture capital firm based in Singapore. We have invested in some of the leading companies, including over 40 unicorns and 12 decacorns. We also invest in founders to help them build disruptive technologies or business models in emerging megatrends.

Media Contact:
Snehal Nimje
+919740096448
[email protected]

SOURCE MeetRecord Inc

Small, low cost, multi-band, high-performance UAS sensor package for sensing, communications and electronic warfare to enable Replicator initiative

BURLINGTON, Mass., June 19, 2024 — MatrixSpace has been selected by AFWERX for a $1.25M Direct-to-Phase II SBIR to develop a prototype low SWaP-C multi-function, multi-band antenna payload, based on the MatrixSpace Radar hardware platform.

Created to satisfy requirements for the Replicator initiative and address the most pressing challenges in the Department of the Air Force (DAF), the project is part of a new initiative to develop and test low SWAP payloads based on existing MatrixSpace technology for uncrewed aerial systems (UAS). The project initially runs for 21 months, starting immediately.

Designed and developed in the USA, MatrixSpace Radar offers robust situational awareness of both airborne and ground-based objects, regardless of lighting and weather conditions. This facilitates highly accurate drone detection and Counter Unmanned Aircraft System (CUAS) capabilities, Beyond Visual Line of Sight (BVLOS) flight for uncrewed, autonomous and tethered aircraft, and overall general airspace awareness and security. 

The Air Force Research Laboratory and AFWERX have partnered to streamline the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) process by accelerating the small business experience through faster proposal to award timelines, changing the pool of potential applicants by expanding opportunities to small business and eliminating bureaucratic overhead by continually implementing process improvement changes in contract execution.

The DAF began offering the Open Topic SBIR/STTR program in 2018 which expanded the range of innovations the DAF funded.

Quote from Matthew Kling, VP of Intelligent Systems, MatrixSpace*
“We’re honored to provide innovative military capabilities using our core MatrixSpace technology to strengthen the national defense of the United States. Through this award, we have been given a significant opportunity to progress large-scale, all-domain attritable autonomous (ADA2) systems envisioned under the Replicator initiative. MatrixSpace will help address critical requirements for future military systems by providing multi-function, multi-band, agnostic capabilities on-board autonomous vehicles, enabling our warfighters to rapidly adapt to any mission.”

*Disclaimer: The views expressed are those of the author and do not necessarily reflect the official policy or position of the Department of the Air Force, the Department of Defense, or the U.S. government.

About the Air Force Research Laboratory (AFRL)
AFRL is the primary scientific research and development center for the Department of the Air Force. AFRL plays an integral role in leading the discovery, development, and integration of affordable warfighting technologies for our air, space and cyberspace force. With a workforce of more than 12,500 across nine technology areas and 40 other operations across the globe, AFRL provides a diverse portfolio of science and technology ranging from fundamental to advanced research and technology development. Visit www.afresearchlab.com.

About AFWERX
As the innovation arm of the DAF and a directorate within the Air Force Research Laboratory, AFWERX brings cutting-edge American ingenuity from small businesses and start-ups to address the most pressing challenges of the DAF. AFWERX employs approximately 370 military, civilian and contractor personnel at five hubs and sites executing an annual $1.4 billion budget. Since 2019, AFWERX has executed over 6,100 new contracts worth more than $4 billion to strengthen the U.S. defense industrial base and drive faster technology transition to operational capability. Visit www.afwerx.com.  

About MatrixSpace
MatrixSpace is re-imagining radar. We are addressing the next generation of AI-enabled sensing so that objects can be identified, and data collected in real-time – no cloud access required. We’re building the smallest radar system to provide new levels of integrated outdoor surveillance in 4D (the size, location, and movement of objects in time) that makes it accessible to a broad range of public and private enterprises. www.matrixspace.com.

Contact:
[email protected]
P: +1 650 996 0778

Follow us:
LinkedIn @MatrixSpaceAI
Twitter @MatrixSpaceAI

SOURCE MatrixSpace

SINGAPORE, June 19, 2024 — ZA Tech, the next-generation insurance core system SaaS provider, has rebranded as Peak3. With the successful completion of its US$35 million Series A fundraising from EQT (lead investor) and Alpha JWC Ventures, Peak3 now accelerates its expansion in the EMEA region and investments in complementary data and AI solutions.

In a market dominated by fragmented legacy technology, Peak3 has pioneered a cloud-native, modular insurance core and distribution system that combines comprehensive capabilities for life, health, and property and casualty (P&C) insurance. Since its founding in 2018, Peak3 has become a trusted technology partner to global insurers such as AIA, Generali, Prudential, and Zurich for their digital and traditional business. It has also partnered with leading digital platforms such as Carro, Grab, Klook, and PayPay to build and scale their embedded insurance businesses.

Besides the successful fundraising, Peak3 has recently achieved key milestones underpinning the rebranding. These transformative achievements include launching its first multi-country, multi-tenant core modernisation in Europe, rolling out an integrated customer data and big data platform for scaling analytics and AI capabilities, and establishing its first technology centre in Europe. The rebranding coincides with another major milestone: Issuing over a billion insurance policies on Peak3’s systems – including the first policies issued to North American customers and the first ones to be issued in Africa.

“We have evolved from an embedded insurance pioneer in Asia to a global end-to-end technology partner for the insurance industry,” said Bill Song, Peak3 Group CEO and Co-Founder. “Our new name represents three pinnacles: scaling the heights of innovation, surpassing performance limits, and delivering superior reliability – as we help insurers reach the highest summits of their cloud, data, and AI transformation.”

Bill Song also emphasised the growth opportunity: “There is an incredible tech investment backlog in the US$7-trillion global insurance industry. Continued digitalisation and the proliferation of AI will require structural investments by insurers over the next decade to modernise their core systems. We are uniquely positioned to capture this opportunity by providing the tech core foundations and innovation use cases.” 

To accelerate its growth journey, Peak3 completed its Series A fundraising and welcomed two new investors on its cap table: EQT, a major global technology investor with a deep heritage in Europe, and Alpha JWC Ventures, a leading venture firm in Southeast Asia. With the funding, Peak3 will advance its analytics and AI capabilities toward an intelligent core insurance solution, grow its EMEA operations and establish new system integrator partnerships. Peak3 targets double-digit ARR growth this year and is on the path to reach cashflow breakeven over the coming quarters.

“Peak3 has also proven its capability to deliver greenfield digital insurance initiatives and complex multi-country core modernisation projects in APAC and EMEA. As the lead investor, EQT is committed to empowering Peak3 in its go-to-market acceleration by leveraging our global network,” stated Clara Ho, Partner at EQT.

J.P. Morgan acted as exclusive financial advisor to Peak3 for this Series A fundraising.

For media inquiries and interview requests, please contact Carling Sia, Global Head of Branding and Marketing, at [email protected].

For more information on Peak3, please visit www.peak3.com.
For more information on EQT, please visit www.eqtgroup.com.
For more information on Alpha JWC Ventures, please visit www.alphajwc.com.

Photo – https://mma.prnewswire.com/media/2439599/Peak3_PR_Announcement_Photo__002.jpg

DETROIT, June 18, 2024 — Vehya, an easy-to-use mobile app dedicated to automating the installation, repair, and routine maintenance processes for home and small business services, today announced the successful completion of a $2.1 million seed funding round. The funding will enhance the platform’s AI capabilities, expand its service offerings, and accelerate growth in key markets like California, Texas, Florida, Maryland, and Michigan.

The seed round was led by Community Reinvestment Fund, USA (CRF), with participation from other investors. This investment will enable Vehya to further develop its cutting-edge AI technology, which streamlines the scheduling, execution, and management of various services, providing a seamless experience for both consumers and contractors.

“Vehya’s strong track record and commitment to innovation made them a great fit for CRF’s small business lending program,” said Alexis Dishman, CRF’s Chief Small Business Lending Officer. “As a mission-driven Community Development Financial Institution (CDFI) and small business lender, CRF strives to fill access to capital gaps and help businesses like Vehya grow and thrive.”

Revolutionizing Home and Small Business Services
Vehya is transforming the way services are delivered to homes and small businesses in fields such as electrification, HVAC, and plumbing. By leveraging AI, the platform automates the entire lifecycle of service management, from initial request to job completion. This innovation addresses the common pain points of scheduling conflicts, inconsistent service quality, and lack of transparency.

“We are thrilled to have the support of investors who share our vision of revolutionizing the service industry,” said William McCoy, CEO and Founder of Vehya. “This funding will allow us to enhance our AI technology, ensuring that we continue to provide exceptional value to our users. Our goal is to make the process of hiring professionals for home and business services as easy and reliable as possible with the use of AI.”

Enhanced AI Capabilities
The core of Vehya’s innovation lies in its advanced AI algorithms, which match consumers with the best-suited contractors based on the specific needs of each job. Whether installing or repairing heat pumps or water heaters, setting up EV chargers, integrating solar panels, or managing battery storage systems, Vehya provides real-time updates, predictive maintenance reminders, and a secure payment system, ensuring a hassle-free experience for all parties involved.

Expanding Market Reach
With the new funding, the company plans to expand its market reach, targeting key regions where demand for automated service solutions in electrification and renewable energy systems is growing rapidly. The company aims to onboard thousands of skilled contractors and offer a diverse range of services, including plumbing, HVAC, electrical work, and even drywall repairs. “Through our last 2 years in business, we had many customers ask for our mobile app to help them with other projects. We have since collected many types of service providers, explains William McCoy, CEO of Vehya. Our goal is to help customers with all types of services for their home and business so that we can also help them with their sustainability goals.”

Commitment to Quality and Reliability
Vehya is committed to maintaining the highest standards of quality and reliability. The Vehya suite of technology includes a mobile app for consumers, a dashboard for partners, and a comprehensive vetting process for contractors, ensuring proper insurance, identification, and deployment of qualified professionals. Additionally, AI, user reviews, and ratings help maintain a high level of service excellence. “Through AI we are able to automate many of the processes such as matching, scheduling, and logistics”, explains William McCoy, CEO of Vehya.

About Vehya
Founded in 2021, Vehya is a technology company committed to driving innovation in the service industry, that utilizes AI to automate the installation, repair, and routine maintenance processes for home and small business services. The company specializes in making it easier for consumers and contractors to connect, ensuring reliable and efficient service delivery. For more information, visit www.vehya.com.

Media Contact:
Carissa, Marketing
Vehya Inc.
[email protected]
1-866-Vehya-21

SOURCE Vehya Inc.