RALEIGH, N.C., Sept. 19, 2023 — CAPTRUST Financial Advisors (CAPTRUST) announced today a minority growth investment from funds managed by global investment firm Carlyle (NASDAQ: CG). Carlyle will provide growth capital to the firm which will be used to pursue strategic inorganic growth opportunities. Neither GTCR nor any of CAPTRUST’s executive leadership teams will be selling secondary shares as part of the transaction.

CAPTRUST added its first institutional capital partner, leading private equity firm GTCR, in 2020 to support its strategic plans to further expand the business nationally, at a valuation of $1.25 billion. Since that time, CAPTRUST has grown through the addition of 29 firms that broadened the company’s capabilities and geographic footprint and fueled the firm’s organic growth.

CAPTRUST’s valuation has increased to more than $3.7 billion, with its equity value increasing by more than $2 billion to more than $3 billion. Carlyle’s new growth equity will be used to further drive this M&A strategy. Carlyle and GTCR will be minority investors in CAPTRUST, both individually and collectively.

“CAPTRUST was founded on the belief that everyone is best served by working with financial advisors that serve as fiduciaries, providing objective, conflict-free advice. Fast-forward more than 25 years, and that core belief remains the foundation of our tremendous growth,” said Fielding Miller, Co-founder and CEO, CAPTRUST. “We remain focused on our clients first and have built out the infrastructure and advisor force to deliver world class solutions.”

“CAPTRUST has established a well-defined position within the RIA industry thanks to the firm’s scale across wealth management, retirement plans, and endowments and foundations,” said Collin Roche, GTCR Co-CEO and Managing Director. “We believe in the future of this business and are pleased to maintain our full commitment as an investor and a strategic partner. We look forward to continuing to work with the management team to further build on CAPTRUST’s growth.”

“CAPTRUST is one of the premier brands within the RIA industry, with a deep bench of expertise and resources that support a premium and ever-expanding service model,” said Jim Burr, Head of Global Financial Services at Carlyle. “The firm has the unique position of leveraging its size and scale to benefit not only clients, but also to benefit the communities it serves. This differentiated position, coupled with CAPTRUST’s vibrant culture and strong leadership, makes us incredibly excited to collaborate with our new partners.”

Mike Hollander, Managing Director at GTCR added: “CAPTRUST continues to expand its capabilities through a robust inorganic growth strategy combined with strong centralized capabilities, which has allowed the business to generate exceptional growth. We are excited to support Fielding and the team as they accelerate CAPTRUST’s path forward.”

Fielding Miller will continue to lead the firm and remains the largest individual shareholder. CAPTRUST also has one of the broadest employee ownership programs in the industry. Currently, more than half of CAPTRUST employees participate in one or more of the firm’s equity programs.

“The culture at CAPTRUST is driven by unity, or as we say, One Unified Practice. Our shareholder program is one of the ways that we show our people just how important they are to the success of our organization,” continued Miller.

Ardea Partners LP served as exclusive advisor to CAPTRUST. Alston & Bird LLP served as CAPTRUST’s legal counsel. J.P. Morgan served as lead advisor to Carlyle. Simpson Thacher & Bartlett LLP served as Carlyle’s legal counsel. Kirkland & Ellis LLP served as legal advisor to GTCR.

Additional terms of the deal were not disclosed.

About CAPTRUST
CAPTRUST was founded in 1997 and registered CapFinancial Partners LLC as an independent registered investment advisor in 2003 in Raleigh, North Carolina. The firm provides investment management, financial planning, estate planning, and tax advisory and compliance services for individuals and families. The firm also offers a comprehensive suite of services for ultra-high-net-worth individuals to simplify their financial lives, mitigate risk, and perpetuate their legacies. For retirement plan sponsors, endowments, foundations, and religious entities, CAPTRUST offers investment advisory services, fiduciary support, plan design, provider analysis and fee benchmarking, and employee advice programs. With nearly 1,500 employees across 85 locations nationwide, CAPTRUST oversees more than $832 billion in assets, including just over $688 billion in nondiscretionary assets under advisement and just over $143 billion in discretionary managed account assets (as of June 30, 2023).

About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $385 billion of assets under management as of June 30, 2023, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

About GTCR
Founded in 1980, GTCR is a leading private equity firm that pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through organic growth and strategic acquisitions. GTCR is focused on investing in transformative growth in companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications sectors. Since its inception, GTCR has invested more than $25 billion in over 270 companies, and the firm currently manages more than $35 billion in equity capital. GTCR is based in Chicago with offices in New York and West Palm Beach. For more information, please visit www.gtcr.com. Follow us on LinkedIn.

SOURCE CAPTRUST Financial Advisors

Funding round led by Florida Funders, with participation from Home Depot Ventures, Community Investment Management (CIM), Companyon Ventures and MS&AD Ventures

MIAMI, Sept. 19, 2023 — Flex, formerly known as Flexbase, today announced the closing of a $120M Series A debt and equity funding round, which includes debt financing from CIM with an agreement to fund up to $100M, and $20M in equity capital led by Florida Funders with participation from Home Depot Ventures™, MS&AD Ventures, Companyon Ventures and others. In addition to the funding news, the company has launched its Flex Credit Card, Flex Banking and finance super app for business owners to streamline the finance back office of businesses and accelerate their growth.

“While enterprises and modern tech companies have seen significant innovation in the last five years, very little has come to our main street small businesses that have been the backbone of this country, driving our economy forward,” said Zaid Rahman, founder and CEO of Flex. “Most B2B FinTech companies serve Silicon Valley tech startups or large enterprise companies, neglecting small businesses that are struggling to find the credit and tools they need to effectively manage their finances. Flex’s new offerings focus on supporting small businesses by giving them the credit they deserve and providing the essential finance back office tools they need to achieve success.” 

“Until now, no one has been able to consolidate all the financial services and workflows required to effectively build, manage and protect business owners’ finances in one platform,” said Hadi Solh, co-founder of Flex. “Flex is introducing the future of FinTech by bundling services into one super app empowering founders, business owners and CFOs to grow their businesses. We look forward to rolling out even more transformational offerings in the coming months.”

This announcement comes as SMBs continue to power the U.S. economy, creating two-thirds of all new jobs and accounting for 99.9% of all U.S. businesses. Flex’s core product is a credit card that caters to traditional small businesses that have historically been underserved by financial institutions and up-and-coming FinTech platforms. The company offers 0% interest for 60 days on all purchases, providing Net-60 float and flexibility for businesses to grow. Flex is redefining credit and finance management by providing business owners with a credit card and financial ecosystem designed to reduce the hassle of expense reports, minimize administrative headaches, simplify employee card management and accelerate growth. The platform bundles every aspect of the back office, from banking to receipt capture, employee cards with specific limits, expense tracking and more, all in one place. With a significant demand from over 20,000 companies, Flex has moved beyond its initial construction focus to service industries such as logistics, trucking, farming, mom-and-pop service businesses, digital businesses, e-commerce companies, restaurants, real estate and more.

“Flex is reimagining how finance is done at businesses and has a proven track record when it comes to supporting businesses to provide more than just a credit card but a platform to manage their entire financial life,” said Saxon Baum, partner of Florida Funders. “We couldn’t be more pleased to invest in such a cutting-edge FinTech company and look forward to seeing their tremendous growth.”

Flex Key Features and Benefits

• Flex Credit Card and Credit Flexibility: Flex Credit Cards come with 0% interest for 60 days on every single purchase. With Flex, businesses can get unlimited employee physical and virtual cards with category and spending limits to manage business spending in real time without slowing down growth. Unlike other cards, Flex cards have no monthly or annual maintenance fees and no late fee charges. Flex also offers credit limits that grow as a business grows – the more customers use Flex, the more credit limit they may be able to obtain. The Flex Credit Card is issued by Patriot Bank, N.A. Flex extends the credit for the Flex Credit Cards, and the cards are subject to Commercial Cardholder Agreements. Flex Credit Cards are available to businesses operating within the United States (except CA, NV, SD, ND, and VT at launch) and Puerto Rico.
• Flex Banking: With Flex Banking, businesses can manage cash all from one place. Flex provides banking with up to 4% yield on idle cash. There are no annual, monthly or late fees, and wire transfers, ACH and insufficient fund fees are also a thing of the past. Flex’s debit cards offer 1% cashback on transactions. Flex enables businesses to have multiple free accounts under one entity for increased agility. The Flex Banking Debit Card is issued by Thread Bank, member FDIC.
• Flex Treasury Management: Flex’s Treasury Management, through partner American Deposit Management (ADM), enables businesses to diversify cash across multiple financial institutions and eliminate bank-run risk. Flex customers can access up to $75M in FDIC/NCUA insurance – a considerable increase over the FDIC/NCUA’s standard deposit insurance limit of $250K. With Flex Treasury, funds are spread across up to 400 FDIC-insured financial institutions to maximize FDIC/NCUA insurance.

“As investors focused on providing capital to small businesses in underserved communities, we are excited by Flex’s potential to provide small businesses with access to responsible credit and the flexibility they need to manage their cash flow and growth,” said Jeff Hilton, managing director of CIM. “We’re eager to continue to support Flex as they provide innovative cash flow management products and solutions.” 

For more information, please visit www.Flex.One

About Flex
Flex (a Flexbase Technologies, Inc. brand) is the B2B FinTech company redefining credit and finance management by providing a financial ecosystem that empowers SMBs to expand their business and accelerate growth. Flex bundles every single aspect of the back office into one finance super app to seamlessly control finances. The company offers Flex Credit Card with 0% interest for 60 days on all purchases and built-in employee expense management, as well as Flex Banking with up to 4% yield on idle cash. The addition of Flex’s Treasury Management, through partner ADM, enables businesses to diversify cash across multiple banks to efficiently move funds and mitigate risk, all while delivering up to $75M in FDIC insurance. Flex aims to be the financial platform that all small businesses use to build, manage and protect their finances.

About Community Investment Management
Community Investment Management (CIM) is an institutional impact investment manager that provides strategic debt capital to demonstrate and scale responsible innovation in lending. CIM is dedicated to supporting organizations that drive positive change and foster financial inclusion, economic growth, and social impact. For more information, visit https://cim-llc.com/.

SOURCE Flexbase Technologies, Inc.

The Startup is Focused on Secure, Turnkey Gen-AI Solutions for the Enterprise

SAN FRANCISCO, Sept. 19, 2023 — Yurts, the enterprise-ready Generative AI platform, today announced a $16 million Series A to support its acceleration into the market. The oversubscribed funding round was led by Nava Ventures, with additional investments from XYZ Ventures, Bloomberg Beta, Mango Capital, and Essence VC. Yurts will leverage the capital to continue to build its secure AI platform and expand its technology team. This announcement follows a strategic partnership Yurts announced earlier this year with Nvidia and Lambda Labs to bring the secure GenAI platform to the market.

“At Nava Ventures we invest in companies that address deep needs and evolve to products that become a part of everyday life,” said Manish Patel, Founder of Nava Ventures. “Yurts takes the power of AI and makes it practical and accessible to the modern enterprise. Its full-stack turnkey solution enables the average employee to become a 10x employee, changing the  game for small and large businesses alike.”

Yurts is on a mission to help connect people to their best work. By leveraging Large Language Models (LLMs) and the practical power of GenAI applications, the company is transforming knowledge management and enterprise workflows at scale. Yurts can go wherever you work and be deployed across any cloud environment, within private data centers, or on individual workstations.

“In these early stages of using Generative AI, enterprise CXOs must reimagine how they think about the knowledge within their organization, and how that knowledge turns into productivity and outcomes,” said Ben Van Roo, CEO and co-founder of Yurts. “We want to partner with them and ultimately make their job easier, so they can focus on empowering their organizations and reshaping how work gets done.”

With a founding team that built products that served regulated industries and national security customers, Yurts understands the importance of secure, explainable AI solutions. Recognizing that language-based AI is essential to the evolution of government – and any large organization – Yurts set out to build a solution customers can trust with their most mission-critical data. By starting with the portions of the market with the highest standards, Yurts set a foundation to raise the bar for Generative AI security, reliability, and trustworthiness worldwide.

The Yurts platform unlocks the following potential for enterprises:

• The information you care about: The platform converges documents from various spaces like SharePoint, Teams, Slack, Google Docs, molding them into an accessible repository that allows flexibility and control. With roots as the go-to solution for the defense industry, the technology also delivers best-in-class security and reliability.
• Farewell to scattered searches & data silos: The platform helps people find, connect, and communicate faster across the vast black hole that is enterprise systems, applications and documents. Turning what used to take hours into minutes.
• Work faster where you are: Yurts accelerates workflows through Yurts application interfaces or within pre-existing applications. The models can be tuned to be on brand, reduce hallucinations, and provide accurately cited sources.
• Cost and complexity are no longer a barrier: Work smarter NOT harder. The platform seamlessly integrates with existing systems. Without long implementation timelines, high GPU costs, or in-house machine Learning/AI experts.

Yurts already counts both private sector companies and public sector organizations as a part of its customer base, including contracts with the Department of Defense and Department of Energy. “We see data security as table stakes and know that when deploying AI privacy is top of mind for nearly every CXO,” added Van Roo.

To learn more about Yurts please visit www.yurts.ai.

About Yurts
Founded in 2022, Yurts is an enterprise-ready GenAI platform on a mission to help connect people to their best work. By leveraging Large Language Models (LLMs) and the practical power of GenAI applications, Yurts is transforming knowledge management and enterprise workflows at scale. Yurts was co-founded by Ben Van Roo Guruprasad Raghavan, and Matt Thomson. To learn more please visit www.yurts.ai.

About Nava
Nava Ventures was founded in 2021 with a focus on Series A technology investing.  Nava is a lead investor, built on a craftsman-like approach to venture capital.  Our team has more than a decade of experience investing in early stage start-ups, and has been fortunate to partner with exceptional entrepreneurs who have scaled their businesses from idea to IPO.  We look to invest in those technologies that transform industries and reshape our everyday lives. For more information, please visit www.nava.vc.

SOURCE Yurts AI

SACRAMENTO, Calif., Sept. 19, 2023 — OnSight Technology, a leading robotics and computer vision company for the PV solar industry, is thrilled to announce the successful completion of its Seed round.

With this injection of funds, OnSight Technology is poised to propel its computer vision and autonomous driving initiatives to new heights. The investment enables the company to strengthen its research and development capabilities, attract top-tier talent, and forge strategic partnerships to further refine and enhance their AI algorithms. By leveraging cutting-edge technologies, OnSight aims to unlock the true potential of artificial intelligence in streamlining and optimizing solar operations.

Moneta Ventures, an early stage venture capital firm, led the round, with Stäubli, the global market leader in solar connections and renowned player in robotics and industrial automation, joining as a strategic investor and board member. There was additional participation from previous investors, including the Sacramento-based Growth Factory.

“We are grateful to Moneta Ventures, Stäubli, and the Growth Factory for their support,” said Derek Chase, CEO of OnSight Technology. “This round will propel us forward as we continue to innovate and revolutionize the robotics and computer vision landscape for the solar industry.”

Moneta Ventures, known for its expertise in early-stage investments, recognizes the enormous potential of OnSight Technology’s cutting-edge solutions. By leveraging its strong network and resources, Moneta Ventures aims to guide OnSight Technology toward sustainable growth and industry leadership.

“OnSight’s platform will enable the rapidly growing utility solar market to dramatically reduce commissioning and maintenance costs while improving accuracy and asset performance,” said Lokesh Sikaria, Managing Partner of Moneta Ventures. “OnSight’s solution is truly differentiated, as their robots enable data capture beneath the panels, where many equipment failures occur. We are proud to be backing an incredible team of industry veterans and technological experts.”

Stäubli’s investment solidifies the strategic partnership between the two companies. As the global market leader for solar connections, and a renowned player in robotics and industrial automation, Stäubli brings valuable expertise and industry insights to further fuel OnSight Technology’s success on the way to increasing a safer future for the photovoltaics industry.

“We are thrilled to participate in OnSight Technology’s development of innovative Computer Vision and AI solutions to enhance safety in the solar industry”, explains Franco Delvecchio, EP of Stäubli Electrical Connectors. “It’s part of Stäubli’s DNA to push forward innovation and future-oriented technologies to make our customers’ operations easier and safer.”

The Growth Factory’s 3rd investment into Onsight Technology showcases their commitment to fostering innovation and driving economic growth in the Sacramento region. Their ongoing investments demonstrate the belief in the company’s vision and potential.

“At Growth Factory, we are proud to identify world class founders in the Sacramento Region and support them with the funding, connections, and programming it takes to build their business. As the first check in to Onsight, we are excited to double down and continue supporting their journey to build a world class company!” Rick Spencer, Founder and Managing partner of GF Ventures.

About OnSight Technology:

OnSight Technology is a leading robotics and computer vision company that specializes in developing advanced solutions for Utility and Commercial Solar Industry.  By combining state-of-the-art technology with deep industry knowledge, OnSight Technology aims to transform traditional processes and drive efficiency, productivity, and safety.

Media Contact:
Jeff Struhm
VP Marketing
[email protected]
916.761.4205

SOURCE Onsight Technology

ALBANY, N.Y., Sept. 18, 2023 — Rail Modal Group (“RMG”), the leading provider of intermodal rail solutions, today announced the successful capital raise of $50 million from The Baupost Group (“Baupost”).

With strategically located premier intermodal rail ramps and container depots in Amarillo, Texas; Fremont, Nebraska; Minot, North Dakota; and Kansas City, Kansas, RMG offers unparalleled efficiency for American producers in the heartland to reach international markets. This capital injection supports RMG’s commitment to providing affordable, dependable, sustainable, and faster trade solutions.

Greg Oberting, Founder and CEO of RMG, expressed his excitement on this milestone achievement. “It was a lot of work to launch this company and build out our infrastructure over the past few years. Today, RMG stands as a beacon of efficiency, helping our partners streamline their reach to global markets at lower costs with a more environmentally friendly footprint,” said Oberting.

He further added, “We sought out Baupost exclusively as our financial partner given their investment track record and their ability to foster successful partnerships.  Having them back us confirms the value that our platform brings to our customers and the growth that lies ahead.  This investment strengthens our ability to grow our high-quality service to American producers, international consumers, and our rail and steamship partners.”

Sidley Austin LLP acted as legal counsel to RMG for this transaction, while Ropes & Gray LLP represented Baupost.

About Rail Modal Group (RMG):
Rail Modal Group is at the forefront of intermodal rail solutions, optimizing the US supply chain through its footprint of inland ports. Rail Modal Group facilitates efficient and sustainable access to international markets for American producers, primarily serving disadvantaged and dislocated supply chain areas. Rail Modal Group has already reduced over 75 million truck miles from US roads and highways through their intermodal terminals.

Press Contact:
Rail Modal Group Email: [email protected]

SOURCE Rail Modal Group LLC

NEW YORK, Sept. 18, 2023 — Bastion (the “Company”), an enterprise-focused web3 orchestrator, today announced the launch of its product suite, enabling companies to seamlessly integrate web3 infrastructure into enterprise technologies though a compliant, white-label platform. Using Bastion’s proprietary routing system, companies can now leverage the utility of the blockchain only when necessary, providing a pragmatic solution for web3 implementation.

Bastion, founded by the former Chief Technology Officer and Chief Security Officer of a16z crypto, empowers enterprises to develop products and experiences that unlock the full potential of web3 for their end users by allowing brands to implement new, or expand existing, infrastructure. Through its comprehensive platform, the Company eliminates the need to individually source solutions such as custody, wallet management, and user onboarding. Bastion combines the simplicity of web2 with the efficiencies of web3, so businesses can create faster, easier ways for people to pay, play, connect, and shop, all while simultaneously offering valuable insights through data analytics.

Nassim Eddequiouaq, co-founder of Bastion, commented, “We founded Bastion to enable businesses to onboard their products and end-users into a web3 environment without the complicated, overwhelming experience we know today. Web3 technologies have tremendous promise, but until now have lacked the enterprise-level infrastructure necessary to support tangible web3 use cases. Additionally, the blockchain industry is at an inflection point, ready to transition into a regulated and safe environment that allows brands and enterprises to thrive. We believe that by leveraging the ease and high-quality user interfaces already working in web2, we can create more immersive and engaging products for users without disrupting the user experience.”

The Company also disclosed today it has secured $25M in seed financing led by a16z crypto, with additional participation from Autograph, Laser Digital Ventures, Not Boring Capital, Robot Ventures, Alchemy Ventures, and Aptos Ventures. The seed round will be used to scale Bastion’s operations, recruit top engineering talent, and secure additional licensing to further diversify Bastion’s product offerings. 

The Bastion product suite is supported by three key pillars that underlie its proprietary web3 infrastructure services and separates the company from other web3 infrastructure providers – ownership & monetization of digital goods, smart transaction routing, and customer analytics.

Ownership & Monetization of Digital Goods

The Bastion product suite enables deeper connections between brands and end users by fostering a sense of ownership. Unlike its competitors, Bastion has adopted a custodial wallet model to provide enterprises with the control and security to ensure their web3 initiatives are successful. With Bastion, end users receive the benefits of digital ownership without the hassle of managing a wallet. Bastion maintains the wallets private keys, allowing for on-chain transfers while also making password recovery simple for end-users. Rather than entering a 12 or 24-word seed phrase, users seamlessly log in to their accounts using their web2 credentials without ever realizing Bastion and blockchain technology are working on the back end.

Smart Transaction Routing

Smart transaction routing recognizes when a transaction requires the utility of a blockchain and when it does not, allowing transactions to be completed rapidly and economically while enhancing the customer experience. Automatically routing interactions off-chain makes more transactions free, instant, and entirely private, ultimately leveraging the best elements of web2 and web3 to maximize the user experience.

Customer Analytics

The Bastion product suite develops a deep understanding of end-users over time by compliantly accumulating data and insights, offering enhanced value to enterprises. Tracking analytics allows companies to learn from users’ on-chain and off-chain activity outside of their own platform, ultimately enabling them to provide customized recommendations for products and services to end-users. By leveraging blockchain technology, these insights ultimately provide smoother interaction between web2 ecosystems.

Riyaz Faizullabhoy, co-founder of Bastion, commented, “Many of the products and services we use daily can be radically improved by blockchain technology, and we’re excited to be able to provide seamless web3 experience that is intuitive and ready for mass adoption. With Bastion, startups and legacy businesses alike now have a pragmatic, accessible platform to improve complex e-commerce flows including subscriptions, buy-now-pay-later, loyalty programs, and more. We are pushing the boundaries of what enterprises can offer in an increasingly digital world, and Bastion is going to redefine how enterprises leverage this technology to improve their product offerings and user experiences.”

For more information, please visit: bastion.com

About Bastion

Bastion is an enterprise-focused web3 orchestrator that empowers businesses to seamlessly build web3 solutions. Founded by two former a16z executives, Bastion is pioneering the evolution of the digital world, providing seamless integration of web3 infrastructure into enterprise technologies. Bastion’s solution is robust, secure, and compliant infrastructure, combining the best of web2 and web3 so companies can create faster easier ways for people to pay, play, connect, and shop, all while simultaneously offering valuable insights through proprietary data analytics.

Media Contact

[email protected]

SOURCE Bastion

LOS ANGELES, Sept. 18, 2023 — Bevz, the leading Software as a Service (SaaS) platform for independently operated and small chain liquor/convenience stores, is pleased to share the securement of $3.1M via their latest fundraising round.

The recent injection of capital will go towards increased sales and marketing efforts, national expansion, ongoing product development, and additional customer success resources.

The round was co-led by Dynamism Capital and Golden Section Ventures, with participation from Stage 2 Capital, Hustle Fund, Bridge Investments, Tiller Partners, Irish Angels, Operate Studio, Silicon Beach Investment Group, and Gryphon Ventures.

We are really excited about our investment in Bevz and the opportunity to disrupt the untapped convenience store market. They have an exceptional team with deep industry, operational, and technical expertise” said Andrew Smith, Partner at Golden Section Ventures. “Even with a tough, disaggregated customer base, they’ve proven that they can scale fast, while maintaining capital efficiency.”

The company recently pivoted from a delivery app to a B2B SaaS platform, helping them reach some notable milestones that aligned with the most recent raise:

–  Hundreds of convenience stores actively using their SaaS platform across 10 states in the U.S

–  Tripled ARR year-over-year

–  15+ API (Application Programming Interface) integrations with companies like DoorDash, GrubHub, Uber, Core-Mark, Plaid, Stripe, DocuSign, and more

–  Maintained 93% conversion from free trial to paid subscription and 99% monthly retention

–  Helped convenience stores increase their revenue by ~$2k/month on average

The latest news also comes on the heels of Bevz’s recent growth announcement, highlighting many big-ticket company wins, from notable new partnerships in place with the likes of DoorDash and GrubHub to roll-out in hundreds of stores.

“We’re on a mission to power the hyper-local snack and drink industry by modernizing convenience stores. We have a ton of work to do, but I know that we have the right team, technology, and strategy in place to make it happen,” said Jason Vego, the CEO of Bevz.

About Bevz
Bevz is a technology platform built for convenience stores, by convenience store owners. Our all-in-one solution allows convenience stores to purchase inventory from distributors, sign-up with and combine multiple e-commerce apps (DoorDash, Uber Eats, Grubhub, etc.), and seamlessly manage inventory. Visit Bevz.com to learn more.

Communications Contact

Taylor Foxman

[email protected]

609-432-2237

SOURCE Bevz

Strategic Partnership Announced Onstage at Climate Week NYC on September 18

AMSTERDAM, Sept. 18, 2023 — Circle Economy Foundation, an Amsterdam-based impact organisation, and Regeneration.VC, an early-stage venture fund, are launching a strategic partnership. This impact-oriented collaboration aims to uncover the most impactful Dutch Consumer ClimateTech businesses and scale them globally.

Global resource consumption has tripled in the last 50 years and the related extraction, handling and consumption of these materials generates 70% of global greenhouse gas emissions. Circle Economy Foundation’s GlobalCircularity Gap Report points out that only 7.2% of these resources are getting reused, creating a systems change opportunity to greatly improve circularity and lower resource extraction.

The Netherlands has established itself as one of the world’s leading circular innovation hubs, drawing support and engagement from policymakers, corporations, top-tier investors and world-class entrepreneurs. Circle Economy Foundation and Regeneration.VC are partnering to accelerate Dutch circular innovations ready for the global stage that can play a pivotal role in tackling the climate emergency.  The initial investment strategy will source best of class early-stage Consumer ClimateTech businesses to build a concentrated Dutch portfolio. 

“Today, many large corporations are investing in reducing or offsetting their scope-3 emissions. We believe this funding is better used to fuel climate innovations in the supply chain. Over 50% of these emissions can be addressed with circular economy solutions. In the Circle Economy—Regeneration.VC partnership, we intend to do just that—invest in start-ups that can help corporations address the root cause of their scope-3 emissions,” says Martijn Lopes Cardozo, CEO at Circle Economy Foundation.

Within the partnership, Circle Economy Foundation will provide state of the art circularity impact measurement across the portfolio. In addition, the foundation will utilize its unique position within the Netherlands to locate and scale the most promising enterprises.  Regeneration.VC will provide due diligence, go-to-market strategy and manage the investment process while its advisory team of top materials, reuse and consumer experts will further accelerate portfolio opportunities globally.

“In many ways, the Netherlands is leading the world in Circularity. From before our inception, Circle Economy Foundation has inspired us to think more quantitatively and thoughtfully about the material flows of companies, cities and countries.  It’s incredibly exciting for our team to actively collaborate to uncover the best technologies addressing consumer supply chain emissions in the epicenter of Circularity.  With upcoming EU regulations, there is tremendous innovation and investment happening in the region and we look forward to bringing it to the US and beyond,” according to Michael Smith, Regeneration.VC General Partner.

“At Circle Economy Foundation, we are devoted to accomplishing real impact on the ground. As a circular entrepreneur, I believe the right partner could be a game-changer in these efforts. Together with Regeneration.VC, we are well-poised to empower entrepreneurs to address the climate challenge,” adds Martijn Lopes Cardozo. 

ABOUT CIRCLE ECONOMY FOUNDATION

Circle Economy Foundation envisions an economic system that ensures the planet and all people can thrive. We are a global impact organisation founded in 2011, and to date have worked with 80+ businesses, 31+ cities and 20+ nations around the world. Our practical and scalable approach is focused on empowering decision-makers from the public and private sectors to develop and implement circular economy strategies and business models. We do this by combining research, data, and digital tools for the greater good.

ABOUT REGENERATION.VC

Regeneration.VC is an early-stage venture fund Supercharging Consumer-Powered Climate Innovation driven by circular and regenerative principles. We invest in Consumer ClimateTech companies across Design (AgTech & Aquaculture and Next-Gen Materials), Use (Apparel & Lifestyle and Food & Beverage brands), and Reuse (Recommerce and Reverse Logistics platforms) strategies that generate measurable environmental impact alongside outsized return potential.

For questions and interview requests, please contact Amy Kummetha, Communications Manager at Circle Economy, at [email protected].

Contact: The Co-Op Agency
Meg Sillivos | 650-421-6774
[email protected]

SOURCE Regeneration.VC

BERKELEY, Calif., Sept. 18, 2023 — ResVita Bio, a synthetic biology startup, announces that it has been awarded a $250,000 Phase 1 Small Business Innovation Research (SBIR) grant by the National Institute of Allergy and Infectious Disease (NIAID). This grant will be used to develop RVB-101, a genetically engineered cell therapy for the treatment for severe atopic dermatitis.

Dr. Amin Zargar, PhD, Chief Executive Officer of ResVita Bio, expressed his excitement regarding the recent achievement. “Within a year, we have been honored to receive two innovation grants from the NIH to develop therapies for both Netherton Syndrome, an orphan disease, and severe atopic dermatitis through our topical cell therapy approach,” Dr. Zargar stated. “This is in addition to our Rare Pediatric Disease Designation for Netherton Syndrome from the FDA, setting the stage for the entry of our therapy into the clinic in 2025.”

Veteran biopharmaceutical executive and a member of the company’s Advisory Board Steven Lo commended ResVita Bio’s vision, stating, “Continuous production of therapeutic proteins can be a game-changer in disease treatment, and ResVita Bio has made remarkable progress bringing their platform to the cusp of the clinic.”

About RVB-101: RVB-101 is a new type of treatment for severe atopic dermatitis, consisting of genetically engineered cells within a moisturizer formulation. Topically applied, the cells temporarily colonize the skin and continuously release proteins that rebuild the epidermal barrier and alleviate inflammation.

About ResVita Bio: ResVita Bio launched in June 2022 on a mission to restore and maintain the vitality of the skin through the topical application of cellular therapies. By genetically programming living cells, ResVita Bio aims to repair disrupted skin and alleviate inflammation in various inflammatory skin diseases, including Netherton Syndrome, atopic dermatitis, acne rosacea, and psoriasis. ResVita Bio is a recipient of the Bakar Innovation Fellowship, NIAMS SBIR award, NIAID SBIR award, and the AbbVie Golden Ticket at UC Berkeley’s Bakar Labs. For more information on the company, please visit its website at www.resvitabio.com or follow its LinkedIn page.

Media Contact:
Amin Zargar
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SOURCE ResVita Bio