Founded and seeded by Jasper Lau’s Era Funds, Exponent — the first integrated capital, expense management, and AI-powered accounting platform built for the $921 billion U.S. franchise economy— closes Series A anchored by Chailease, Taiwan’s largest leasing corporation, and Andre Koo, the Chairman of Chailease, with significant participation from K8 Capital, Inauguration Capital, and NBA star Kyle Kuzma.

To learn more, visit www.exponentfi.com

NEW YORK, May 14, 2026 — Exponent, the financial platform built for multi-location franchise operators, today announced it has raised more than $40 million in combined equity and credit capital to expand access to modern financial infrastructure for one of the largest and most underserved segments of American small business.

The round is anchored by a $7.5 million Series A equity investment led by Chailease, the multinational asset-backed finance institution founded in 1977 and one of the largest non-bank lenders in Asia, and Andre Koo, the Chairman of Chailease, with co-lead participation from Era, the New York-based investment firm founded by Jasper Lau and backed by family enterprises across 19 countries. Inauguration Capital, the venture studio founded by Tim Hwang, is a founding investor in Exponent. Hwang also serves as co-founder and chairman of Nitra, the AI-native financial operating platform for healthcare practices that recently surpassed $1 billion in annualized processing volume.

The financing further includes more than $30 million in committed credit facilities supporting Exponent’s lending products, including a previously announced $20 million revolving credit facility from Jovian Capital Management, with additional equity and debt capacity actively being added in the coming quarters.

Franchising is one of the largest engines of small business formation in the United States. Franchised establishments now generate more than $921 billion in annual output, support nearly 9 million American jobs, and operate across 845,000 locations nationwide, according to the International Franchise Association’s 2026 Economic Outlook. Roughly 43,000 multi-unit operators control more than half of every franchised unit in the country — yet the operators in the five-to-fifty location range, the segment where the next generation of regional and national franchise leaders are built, remain systematically underserved by both traditional banks and the consumer-grade fintechs that have dominated the last decade of innovation.

“Franchise operators are some of the best small business operators in the country. They build durable cash flows, employ millions of Americans, and own real assets. They have been handed antiquated tools to run their businesses on,” said Sohel Roopani, CEO of Exponent. “Capital providers don’t provide a good experience for multi-unit operations. Technology firms focus on brands, and not enough on operators. We built Exponent because this industry deserves a financial partner that actually speaks its language — and gives it the same caliber of capital, data, and software that’s being delivered to other high income, high asset sectors of the economy today.”

A purpose-built financial platform for a $921 billion industry

Exponent’s integrated platform combines three products engineered for the operating realities of multi-unit franchise businesses:

• Expansion and acquisition capital. Exponent’s lending product funds new unit build-outs, franchise acquisitions, remodels, and bridge financing — the capital that fuels operator growth. Loans are underwritten against unit-level economics and operator track record, with turnaround measured in days rather than the months typical of traditional bank development lines.
• A corporate charge card built for franchise operators. Exponent’s card delivers automatic accounting categorization and rich rewards for business spending cash back with no category restrictions, multi-entity controls designed for operators running multiple locations and legal entities, and a forthcoming suite of embedded microfinance features that extend working capital flexibility directly inside the card product.
• AI-powered accounting and bookkeeping, piloting end of summer. Most multi-unit operators today wait until the 5th to 15th of the following month to learn what their previous month actually earned. They run blind. Exponent’s accounting suite, with its first pilot cohort launching at the end of summer, will deliver real-time net financial estimates in the palm of operators’ hands at a cost of under $250 per location per month — compared to the $350 to $1,000 per location per month operators typically pay for outsourced bookkeeping that still produces unreliable, weeks-late data. A waitlist of more than 600 locations is already in place. The product will be staffed by U.S.-based accountants equipped with modern, AI-enabled tooling, returning onshore a category of skilled work that has been steadily moved offshore for decades because no one bothered to innovate on it.

“The accounting and bookkeeping products are going to be the most important thing we ship this year,” Roopani added. “There has been almost no real innovation in franchise accounting in twenty years. The default answer in this industry has been to send the work to India or the Philippines to chase labor arbitrage, because the underlying workflow is so manual that the only lever was cost. Modern AI changes that math entirely. We can build a better product, deliver real-time financials instead of month-end-plus-fifteen-days, and do it with American accountants. That’s a meaningfully better outcome for operators, for the profession, and for the country.”

Investor and customer momentum

Exponent serves more than 100 multi-unit franchise operators representing over 10,000 locations across the United States, with revenue growing approximately 800% year over year since the platform launched commercially in 2025. Operator customers include the Dhanani family’s HAZA Group (the largest Wendy’s franchisee in the world), Capstone Restaurant Group (the second-largest Carl’s Jr. and Hardee’s franchisee), and the Chunara Group, TIG Corp, and Epic Group of Companies — among the most significant regional multi-unit platforms in the country.

Brands with operators or partnerships on the Exponent platform include Burger King, Dunkin’, Buffalo Wild Wings, Jack in the Box, Blaze Pizza, Dave’s Hot Chicken, Take 5 Oil Change, Grease Monkey, Dessange Paris, Nothing Bundt Cakes, and Golfzon — spanning QSR, casual dining, automotive services, personal care, and specialty recreation.

“The franchise operator segment is exactly the kind of market we look for at Era — large, essential, profoundly underserved by incumbents, and ready for a vertically integrated software-and-capital approach,” said Jasper Lau, founder and CEO of Era. “What the Exponent team has built is not a single product. It is the financial operating system this industry has been waiting for, and the team executing it has the depth in payments, credit, and operations to actually deliver it. Era is proud to have founded and seeded Exponent and to co-lead this round as the company scales.”

“Exponent is exactly the kind of company we exist to help build at Inauguration Capital: an AI-native financial platform serving a foundational American industry — the franchise operators who run the small businesses anchoring every community in the country,” said Tim Hwang, founder and managing partner of Inauguration Capital “Returning skilled accounting work onshore through modern AI tooling isn’t just a better product; it strengthens American competitiveness. We have deep conviction in this business model and in our team.”

What’s next

Exponent is actively expanding both its equity and credit capacity, with additional facility commitments in late-stage diligence. The company is hiring across engineering, credit, and accounting in its New York City headquarters, and is onboarding new franchise brands and operators on a rolling basis. The AI-powered accounting suite begins pilot with its first operator cohort at the end of summer.

About Exponent

Exponent is the financial operating system for America’s franchise economy. Built specifically for multi-location franchise operators — the segment that runs more than half of the country’s 845,000 franchised units — Exponent integrates expansion and acquisition lending, a corporate charge card with embedded microfinance, and an AI-powered accounting suite into a single platform. Exponent serves more than 100 multi-unit operators representing over 10,000 locations, across brands spanning QSR, casual dining, automotive services, personal care, and specialty recreation.

Exponent was founded and seeded by Era and is led by CEO Sohel Roopani, a former Visa and Stripe executive with more than a decade of experience building payments and credit infrastructure for the financial ecosystem. The company is headquartered in New York City and is backed by Era, Chailease, Inauguration Capital, Jovian Capital Management, K8 Capital, HAZA Foods, Chunara Group, NBA forward Kyle Kuzma, and other leading global investors and operators. Learn more at exponentfi.com.

About Era

Founded by Jasper Lau, Era is an investment firm anchored by some of the world’s most influential family enterprises across 19 countries and 25 industries. Era builds invests in category-defining technology companies, with a portfolio that includes Anduril, Crusoe, Thinking Machines, Harmonic, EquipmentShare, Oklo, and Nitra. Learn more at erafunds.com.

About Inauguration Capital

Founded by Tim Hwang, Inauguration Capital is a venture studio at the intersection of industrial policy and private innovation, creating iconic American companies that serve the national interest. The firm’s portfolio includes Nitra, the AI-native operating platform for healthcare practices, that has raised more than $200 million and processes over $1 billion in annualized transaction volume; Jericho Security, a generative AI cyber defense platform; and Vibranium Labs, building reliability infrastructure for AI-driven cloud software. Learn more at inaugurationcap.com.

About Chailease

Founded in 1977, Chailease is Taiwan’s largest leasing firm and one of Asia’s largest non-bank financial institutions, with more than $30 billion in assets under management and a 49-year history in asset-backed lending, equipment finance, and credit solutions for small and medium-sized enterprises across more than ten countries. Learn more at chailease.com.

SOURCE Exponent

Women-led angel group aims to educate new investors and close the funding gap for female founders with 2026 programming; inaugural pitch event

ATLANTA, May 14, 2026 — TBH Angels, a women-founded angel investment group dedicated to supporting early-stage women founders and cultivating the next generation of investors, today officially announces its new brand identity and 2026 programming for members and founders.

Formerly launched as ATL TrailblazHER Angels, the organization’s rebrand to TBH Angels reflects a bold evolution of its mission to create greater access to capital, community and opportunity for women entrepreneurs and underrepresented founders. Rooted in Atlanta’s thriving startup ecosystem, with a focus on national growth, TBH Angels is building a network of accredited investors, founders and advocates committed to reshaping the future of early-stage investing.

“TBH Angels was created to address a challenge we can no longer afford to ignore: talented female founders continue to be dramatically underfunded despite consistently outperforming expectations,” said Jen Bonnett founding board member and former Vice President of Technology and Entrepreneurship at Invest Atlanta.

The need for this work remains critical:

• Female founders continue to miss out on 97% of venture capital opportunities.
• Black women founders receive just 0.27% of venture funding.
• Female-founded companies generated 35% higher return on investment than male-led companies last year.

“Beyond funding, our founding board was deliberately curated to provide meaningful guidance, strategic connections and hands-on support to the founders we back. TBH Angels is designed to be a true growth partner for women entrepreneurs navigating the challenges of scaling their businesses. As part of our efforts, we look forward to collaborating with allied groups and resources in our ecosystem,” says Genna Keller, founding board chair and Co-CEO of Trevelino/Keller.

TBH Angels was founded to close what the organization calls the “double-sided funding gap” by providing not only organized capital for underserved founders but also organized access for investors.

With two membership pathways, TBH Angels is designed to meet investors where they are in their angel investing journey. The organization’s Core Membership is designed for accredited investors and includes annual dues of $1,000 along with a minimum investment commitment of $10,000 annually for two years. Core members receive access to a curated selection of founders looking for investment, choose were to invest their funds and receive exclusive access to founder pitch days, investor programming and curated networking opportunities.

TBH Angels also offers a Collective Membership, an educational and community-focused option with annual dues of $500 and no investment commitment requirement, providing access to community events and opportunities to upgrade into Core Membership over time. TBH Angels invites accredited investors, founders, strategic partners and community advocates to join the movement and help create a more equitable future for entrepreneurship and innovation.

TBH Angels’ upcoming events will continue to focus on community and education, including WEI Graduation on June 9^th and Atlanta Tech Week on August 9^th. TBH Angels inaugural pitch day is September 29^th. Call for founder applications and details will be released later this summer.

For more information about TBH Angels, membership opportunities and upcoming events, visit: TBHAngels.com, LinkedIn and Instagram.

About TBH Angels

TBH Angels is a women-founded angel investment group dedicated to funding and supporting early-stage women founders while cultivating the next generation of women angel investors. Through strategic capital deployment, educational programming and community-building initiatives, TBH Angels empowers founders with access to capital, mentorship and meaningful investor relationships, while equipping experienced and emerging investors with the tools, network and opportunities to participate more actively in angel investing. The organization brings together a community committed to building a stronger, more inclusive startup ecosystem. To learn more about TBH Angels, follow us on LinkedIn and Instagram.

CONTACT: Kate Clay, [email protected] 

SOURCE TBH Angels

CHICAGO, May 14, 2026 — URGE Group, a Detroit-based advisory, development, and investment firm, has selected Broadstreet Impact Services to provide fund administration and loan servicing to support its place-based investment strategy—which includes fueling emerging developers and building economic opportunity in under-resourced communities.

To date, URGE Group has backed more than $300 million in development activity throughout Detroit. Its team builds partnerships with local impact organizations, provides development expertise, and invests flexible capital to advance the aims of families, local businesses and communities.

“We’re thrilled to partner with the talented team at URGE Group,” said Chris Rakers, Broadstreet Managing Director for fund administration, which includes such services as fund accounting, treasury management, loan servicing, and audit support for mission-driven funds. “Their reputation as a trusted partner in community-centered development make them a great fit for Broadstreet, and we’re excited to scale with them as they continue to grow and raise capital for new fund strategies.”

URGE Group estimates that its projects and investments have directly benefited 57,000 people, developed more than 800 homes and created 3,000 jobs. Since the firm’s founding in 2012, it has worked with more than 50 partners to grow local incomes and community assets.

Roderick Hardamon, CEO & Founder of URGE Group added, “Broadstreet brings a rare combination of institutional-grade fund administration infrastructure and a genuine commitment to partnering with mission-driven managers. That alignment matters to us.”

Learn more about URGE Group

Learn more about Broadstreet’s fund administration services

About the URGE Group

URGE Group is a real estate advisory, development and investment platform founded by Roderick A. Hardamon, headquartered in Detroit, MI. The firm focuses on building sustainable communities and expanding equitable wealth opportunities through innovative capital strategies, development execution and strategic advisory services. URGE works with partners across the public, private and philanthropic sectors to drive transformative projects and scalable investment models that strengthen neighborhoods and local economies.

About the EBIARA Fund

EBIARA is a fund to provide early-stage capital and process assistance so that minority-owned development companies can increase their impact on Detroit’s growing economy.  A partnership between economic growth nonprofit Invest Detroit and real estate advisory firm URGE Imprint with funding from The Kresge Foundation, EBIARA is a loan fund with wraparound support, that seeks to address that gap by helping underrepresented development firms improve operating capacity, build a transaction pipeline, and secure the best talent available.

About Broadstreet Impact Services

Broadstreet is an impact financial services company providing Fund Services and Fund Management. Our Fund Services platform supports private impact fund managers with Fund Administration, Fund Strategy & Operations, and Impact Advisory. Separately, we manage select funds through Fund Management. We work closely with sponsor partners to design, launch, and manage investment vehicles in a highly collaborative and bespoke approach. Our funds invest in impactful businesses, intermediaries, and community assets. We work with values-aligned investors and fund managers to fuel social, environmental, and economic impact across the country. Today our platform supports 51 multi-asset funds, 88 single-asset entities, and $2.7 billion in capital under administration and management, advancing impact alongside financial performance.

Media contact:
Ariel Hargrave, Broadstreet
[email protected]

SOURCE Broadstreet Impact Services

Left Lane Capital Leads Round as All Existing Investors Double Down; Funding to Expand Product Capabilities and Financial Institution Partnerships

SCOTTSDALE, Ariz., May 14, 2026 — equipifi, the fintech platform enabling banks and credit unions to offer flexible payment solutions natively within their digital banking experience, today announced the close of its $34-million Series B. The round was led by Left Lane Capital, with continued participation from all existing investors, including Curql and PHX Ventures. The raise brings equipifi’s total funding to $49 million.

Meeting a Critical Gap in Consumer Finance
Flexible payments have become a preferred option for over 82 million American consumers, yet most of these products are delivered by third-party fintechs operating entirely outside the banking relationship. equipifi closes that gap. The company’s platform enables consumers to split purchases into affordable payments through an institution that already knows them, holds their deposits, and has earned their trust.

The results reflect real demand: consumer adoption of bank-embedded flexible payments has more than tripled in the past year. Research consistently shows that consumers prefer accessing flexible payment options through their primary bank or credit union and report higher satisfaction when they can. 

Defining the Next Era of Payments
“BNPL has become the third pillar of how consumers pay alongside debit and credit, and that shift is permanent. Financial institutions are best positioned to own this space, and equipifi is building the network that will power them. With Left Lane’s support, we’re proud to help the industry meet this moment and define the next era of payments.” – Bryce Deeney, Founder and CEO, equipifi

“We believe equipifi is building the defining network for flexible consumer payments across financial institutions. The team combines deep industry expertise with a clear vision for where installment lending is headed, and Left Lane is proud to partner with them.” – Dan Ahrens, Managing Partner, Left Lane Capital

Built for the Industry, by the Industry
equipifi’s founding team came from financial institutions, where they experienced firsthand the widening gap between consumer expectations and what banks and credit unions could deliver. That background is core to how the company builds, prioritizing deep integration, institutional-grade reliability and an experience that feels genuinely native to the consumer’s banking relationship. 

The Series B will fund two priorities: expanding equipifi’s reach to a broader base of financial institution partners and deepening product capabilities to further extend its leadership in the market. The company expects to double its headcount over the next year, with hiring focused on product and engineering roles. 

For more information, visit equipifi.com or contact [email protected].

About equipifi
equipifi is a fintech company that enables banks and credit unions to offer flexible payments and Buy Now, Pay Later as a native capability within their digital banking platforms. By embedding installment lending directly into the institutions consumers already trust, equipifi helps financial institutions deepen the banking relationship, grow their lending portfolio, and compete effectively in a payments landscape defined by evolving consumer expectations. Learn more at equipifi.com.

About Left Lane Capital
Founded in 2019, Left Lane Capital is a New York and London-based venture capital and growth equity firm investing in high-growth internet and consumer technology businesses globally. Left Lane’s mission is to partner with extraordinary entrepreneurs who create category-defining companies across growth sectors of the economy. Select investments include Bilt Rewards, M1 Finance, LemFi, Ownwell, WeTravel, Moove, Wayflyer, Talkiatry, Blank Street, and more. For more information, visit www.leftlane.com.

SOURCE equipifi

NEW YORK, May 14, 2026 — Saile, a physician-founded workforce platform designed to eliminate the friction between healthcare organizations and the clinicians who power them, today announced a $2.2 million oversubscribed pre-seed round led by Matchstick Ventures. Headwater Ventures also participated in the round. The company is simultaneously coming out of stealth with more than 5,000 physicians on the platform and a growing roster of healthcare facility partners across telemedicine, per diem, locums, consulting, and ambulatory centers.

Over the past six months, Saile has seen 100% provider volume growth. This growth has been entirely organic, alongside more than 1,000 unique job posts and 1,000+ provider engagements each week, signaling strong marketplace traction from both clinicians and facilities.

Facilities across the country are paying staffing agencies large sums to fly in temporary physicians, while qualified, vetted doctors who live down the street sit on the sidelines – not because they don’t want to work, but because the paperwork won’t let them. Hospitals routinely spend tens of thousands of dollars just to find a physician, and once they do, the work is far from over. Verification, background checks, and credentialing get handed off to an entirely separate company, triggering a months-long back-and-forth between staffing agencies, credentialing firms, and internal admin teams before a doctor can see a single patient. The result is a system where facilities accumulate vendor after vendor just to fill a single role, and physicians face the same exhausting onboarding gauntlet every time they move to a new opportunity. Saile was built specifically to eliminate that relay race, by owning the entire journey from sourcing to credentialed and ready to work, so facilities stop juggling vendors and physicians stop starting from scratch.

The average physician is re-credentialed from scratch every time they move between employers, facilities, or care settings, a process that can take months. Facilities pay agency markups to bridge the gap. The result is that physicians burn out on the bureaucracy and patients wait.

Saile was built to end that loop.

“Most people assume the issue in healthcare staffing is a lack of doctors, but what we’ve seen is something different. There’s a large, underutilized workforce that simply can’t move between systems efficiently,” said Dr. Marc Ayoub, Co-Founder of Saile, Neurocritical care physician and Assistant Professor at the Donald & Barbara Zucker School of Medicine. “We’re building the infrastructure that sits in between, so a physician who is already vetted in one system doesn’t have to start from zero every time they want to work somewhere new.”

Saile gives physicians a universal credential passport, a continuously updated, portable vault of verified credentials that travels with them across opportunities – whether that’s an inpatient locums position, a telemedicine consulting shift, or both on the same day. One profile moves seamlessly across gig verticals, giving clinicians the flexibility and autonomy to work on their terms. Facilities tap directly into this pre-vetted pool without recruiter middlemen, agency markups, or redundant onboarding stacks. The platform also handles payment consolidation for clinicians, allowing physicians to receive compensation for shifts worked across contract types, from per diem to locums to telemedicine, directly through Saile. Rather than navigating separate payment relationships across multiple facilities or engagements, clinicians can manage their shifts and get paid through a single platform.

Under the hood, Saile runs five modular AI agents that automate what currently takes months of manual coordination: Recruit, Onboard, Credential, Staffing, Compliance.

“Saile is tackling a deeply embedded inefficiency in healthcare that has gone largely unchanged for decades,” said Ryan Broshar, Partner at Matchstick Ventures. “What Marc and Taylor are building isn’t a new staffing agency, it’s the infrastructure layer beneath every staffing decision in healthcare.”

The team recently welcomed Janna Karwaski, a seasoned healthcare tech operator to help scale the platform’s growing network of physicians and hospital partners.

Saile is currently operating across a diverse range of healthcare environments – including ambulatory surgery centers, urgent care clinics, telemedicine platforms, AI training labs, and acute care hospitals – through flexible engagement models such as per diem staffing, locum tenens, and specialized consulting. The company will use the pre-seed funding to expand its AI agent infrastructure, grow marketplace capabilities, and deepen integrations with healthcare technology platforms.

ABOUT:
Saile is a physician–founded healthcare staffing and credentialing platform built around a simple idea: if facilities want clinicians, and clinicians want to work more, it shouldn’t be this hard for them to find each other. Saile turns that broken process into a universal credential passport: clinicians maintain one secure, portable credential vault that travels with them across opportunities, while facilities tap directly into a pre–vetted pool of local and regional talent without recruiter middlemen, agency markups, or redundant onboarding. Co–founded by neurocritical care physician Marc Ayoub, MD, and Founding Engineer at Cedar, Saile is headquartered in New York City and is redefining how clinicians and healthcare facilities staff care.

To learn more about Saile visit: https://saileapp.com/

MEDIA CONTACT:

Ludington Media on behalf of Saile
[email protected]
551 795 5950
New York, NY
www.ludingtonmedia.com 

SOURCE Saile

WASHINGTON, May 14, 2026 –The National Venture Capital Association (NVCA) today announced that Gavin Christensen, Founder and General Partner at Kickstart, has been appointed as the 2026-2027 Chair of the NVCA Board of Directors.

Christensen is widely recognized for his role in helping build the Mountain West into a nationally recognized startup ecosystem. At Kickstart, he pioneered a model of venture investing that mobilizes a broad network of founders, operators, and investors to support high growth companies. His work has contributed to a broader shift in the industry toward more distributed and accessible venture capital.

“Gavin brings a deeply networked and collaborative approach to venture capital that reflects where our industry is headed. He has spent nearly two decades proving that world-class innovation can take root anywhere,” said NVCA President and CEO Bobby Franklin. “Gavin’s leadership will be incredibly valuable as we extend our reach across the full spectrum of venture, from emerging managers to established firms, and across every region of the country, to further strengthen our advocacy for a robust, vibrant entrepreneurial ecosystem.”

“Taking on the role of NVCA Chair is a true honor,” said Gavin Christensen. “American venture is strongest when it backs entrepreneurs across the country, from Silicon Valley to Silicon Slopes, Boise to Boston. NVCA plays a critical role in ensuring that founders and investors have a strong voice in the policies that impact whether the United States remains the best place in the world to start and scale a company. I’m excited to get to work and build on that mission.”

Christensen succeeds Vineeta Agarwala, General Partner at Andreessen Horowitz (a16z), NVCA’s 2025-2026 Chair.

“Vineeta brought a clear focus on board and member engagement, along with energy and enthusiasm for pro-innovation policy, enhancing how NVCA connects with our members and advances their priorities. She leaves behind a meaningful legacy, and we are grateful for her leadership and support,” said Franklin.

NVCA also announced the appointment of ten new directors to its Board of Directors, each of whom will serve a four-year term from 2026-2030:

• Adair Newhall, Stepstone
• Eric Hippeau, Lerer Hippeau
• Holly Maloney, General Catalyst
• Jenny Abramson, Rethink Impact
• Karey Barker, Cross Creek
• Mike Dodd, Silverton Partners
• Monish Kundra, Columbia Capital
• Paul Madera, Meritech Capital Partners
• Samara Hernandez, Chingona Ventures
• Travis Hawkes, Capital Eleven

The National Venture Capital Association (NVCA) empowers the next generation of American companies that will fuel the economy of tomorrow. As the voice of the U.S. venture capital and startup community, NVCA advocates for public policy that supports the American entrepreneurial ecosystem. Serving the venture community as the preeminent trade association, NVCA arms the venture community for success, serving as the leading resource for venture capital data, practical education, peer-led initiatives, and networking. For more information about NVCA, please visit www.nvca.org.

SOURCE National Venture Capital Association

Non-invasive platform delivers catheter-free urodynamic testing, converting bladder activity into clinically meaningful diagnostic data JERSEY CITY, N.J. and OR YEHUDA, Israel, May 14, 2026 — Urologic Health Inc., a medical device company pioneering non-invasive urodynamics,…

PALO ALTO, Calif., May 14, 2026 — Transcranial magnetic stimulation (TMS) has been an FDA-cleared therapy for treatment-resistant depression since 2008, but the equipment has historically been too expensive, large, and complex for most clinics to offer.

Ampa, co-founded by seminal researcher Jonathan Downar, MD, PhD, has developed a new TMS device that costs $3,000 per month, fits in the trunk of a car, and can be operated after a few hours of training.

Today, Ampa announced an oversubscribed financing that will accelerate the rollout of its FDA-cleared Ampa One TMS system, already used by clinics in more than 30 states. Ampa has also secured regulatory approval in Israel, paving the way for commercial launch overseas.

“The Ampa One device is, by far, the simplest way for clinics to add TMS to their offerings,” says Don Vaughn, PhD, CEO and neuroscientist. “It can be used anywhere, by practically any licensed professional, at a fraction of the typical cost. Demand has doubled every quarter, and this most recent funding will help us meet this accelerating demand.”

This most recent financing was led by a syndicate of investors including Morningside Ventures, Trimera Capital, Neta Foundation, Jake Collective, and noted technology investor and author Tim Ferriss, bringing total funding to more than $25 million.

“I’ve received TMS treatments myself, I’ve tracked the technology for almost 20 years, and Ampa is poised to offer the iPhone of the field. It’s the first device I’ve seen that could legitimately scale to help millions of people,” said Tim Ferriss. “I’ve personally experienced One-Day TMS treatments that have taken my symptoms from a 9 out of 10 in severity to a 1, lasting a minimum of 3-4 months. Nothing else I’ve tried comes close to that durability. It’s a glimpse of the future of psychiatry.”

“We’re thrilled to partner with Ampa,” said Owen Muir, MD, Co-Founder of Radial, which operates clinics nationwide that offer Spravato® (esketamine), TMS, neurofeedback, and more. “The Ampa One is a category-defining product, and we see Ampa emerging as a true platform for next-generation brain medicine therapies.”

The company continues to see increasing adoption by mental health clinics who appreciate the multi-layered advantages of the Ampa One: portable hardware; a lightweight, hand-holdable coil; camera-guided targeting; pre-printed neuronavigation caps; high-throughput capacity; and affordable subscription pricing.

“Ampa is bringing innovative, life-changing tools to millions of people navigating significant mental health challenges,” said Melissa Floren Filippone, CEO of Jake Collective, a nonprofit and investment engine dedicated to improving the lives of neurodivergent young people. “We are excited to be furthering Ampa’s critical work with our first impact investment.”

“With breakthrough innovation, Ampa is transforming the landscape and broadening access to care,” added Brian Earthman, MD of Cedar Park TMS, a Beacon Behavioral Partners Clinic.

About Ampa

Ampa is a neurotechnology company creating practical tools that help people recover their mental health. The FDA-cleared Ampa One system is the most accessible, portable, easy-to-use TMS system available — built by clinicians for clinicians. Learn more and book a demonstration at www.ampahealth.com

Media Contact:
Itamar Kandel
(415) 463-3454
[email protected] 

SOURCE Ampa

Maryland’s Venture Capital Entity Promotes Executives

COLUMBIA, Md., May 14, 2026 — TEDCO, Maryland’s economic engine for technology companies, formally announced the promotions of Tammi Thomas to president and Geyssel Gonzalez to chief financial & technology officer. These appointments were made by TEDCO’s CEO, Troy LeMaile-Stovall, recognizing the leadership, strategic vision and longstanding contributions both leaders have made to TEDCO’s growth and Maryland’s innovation ecosystem.

“These promotions reflect the extraordinary leadership, institutional knowledge and forward-thinking vision Tammi and Geyssel bring to TEDCO and the broader entrepreneurial ecosystem,” said TEDCO CEO, Troy LeMaile-Stovall. “Both have played critical roles in strengthening our organization, expanding our impact and positioning TEDCO for the future. Their leadership will be instrumental as we continue advancing innovation, entrepreneurship and economic growth across Maryland.”

Since joining TEDCO nearly a decade ago as chief marketing officer, Thomas has played a transformative role in shaping the organization’s growth, visibility, and long-term strategic direction. Throughout her tenure, she has led the execution and evolution of TEDCO’s integrated marketing, communications, investor engagement, and fundraising strategies, helping position the organization as a nationally recognized leader in innovation and economic development.

Thomas’ leadership has contributed to significant organizational growth and expansion, including supporting an increase in state funding of more than 50%, helping secure more than $75 million in federal grant funding, contributing to a more than 33% increase in TEDCO’s assets under management, and supporting the attraction of more than $55 million in foreign direct investment into Maryland’s innovation ecosystem.

Under her leadership, TEDCO has significantly expanded its thought leadership platform and ecosystem engagement efforts, including the growth of its annual Entrepreneur Expo, which convenes more than 1,000 entrepreneurs, investors, policymakers and industry leaders each year. Thomas has also helped position TEDCO to pursue new international collaboration and foreign direct investment opportunities, including recent engagements in Taiwan and South Korea and the organization’s memorandum of understanding with the Kingdom of Jordan. Those efforts also contributed to a recently announced agreement enabling $50 million foreign direct investment into Maryland’s innovation ecosystem through TAIIDA; the Taiwan APAC Investment and Innovation Development Association (TAIIDA) and SFIC Group.

Thomas has also laid the groundwork for TEDCO’s expansion into philanthropic engagement initiatives focused on diversifying long-term funding opportunities and strengthening resources that support Maryland’s innovation and entrepreneurial ecosystem. These efforts align with TEDCO’s broader strategic focus on increasing investment, expanding strategic partnerships, and positioning the organization for continued growth and long-term impact.

As president, Thomas will continue helping lead TEDCO’s next phase of strategic growth, with a focus on strengthening cross-sector partnerships, expanding innovation-driven economic development initiatives, increasing global engagement opportunities, and continuing to build a more connected and inclusive entrepreneurial ecosystem throughout Maryland.

“TEDCO has always been deeply committed to supporting innovation, empowering entrepreneurs and creating pathways for long-term economic growth,” Thomas said. “I’m honored to step into this role and continue building on that mission alongside our CEO, team, board, partners and the broader ecosystem. The opportunity ahead is about not only growing companies but strengthening Maryland’s position as a national and global leader in innovation and entrepreneurship.”

Across her career, Thomas has been recognized by her industry peers for excellence in communication, marketing and development. Most recently, she was selected for the second time as one of The Daily Record’s 2026 Top 100 Women (2023 and 2026), named as a Waves of Change Impact Award honoree and one of the I-95 Business Magazine’s 2025 Influential Women. She serves on the World Trade Center Institute’s CEO Council, Maryland Momentum Fund Advisory Board and MEDA Board of Directors, where she is serving as President.

Gonzalez’s promotion to chief financial and technology officer reflects her leadership in strengthening TEDCO’s financial operations, technology stack, and organizational efficiency. Since joining TEDCO as controller, Gonzalez has steadily expanded her leadership responsibilities, most recently serving as deputy chief financial and operating officer.

“Geyssel has been instrumental in strengthening TEDCO’s operational and financial foundation during a critical period of growth for the organization,” LeMaile-Stovall said. “Her leadership, strategic mindset and commitment to operational excellence have helped position TEDCO for long-term sustainability and impact. She has earned the trust and respect of the organization, and I’m excited to see her continue expanding that leadership in this role.”

During her tenure, Gonzalez has helped oversee financial operations supporting TEDCO’s more than $200 million in assets under management while leading initiatives focused on operational optimization, financial transparency and long-term organizational scalability. Her leadership has helped strengthen TEDCO’s operational foundation as the organization continues expanding its statewide impact, contributing to more than $2.7 billion in economic activity across Maryland as of 2023.

Gonzalez has also played a key role in improving internal processes, strengthening financial and technology infrastructure, and enhancing operational efficiency to support TEDCO’s continued growth and evolving organizational needs. In her new role, she will continue leading the organization’s financial and technology strategy while helping position TEDCO for long-term sustainability and impact.

“I’m excited to continue supporting TEDCO’s mission and the entrepreneurs driving innovation across Maryland,” Gonzalez said. “As Maryland continues to grow as a leader in technology and life sciences, I look forward to helping strengthen the operational and financial foundation that enables TEDCO to expand opportunities, support more founders and continue driving economic impact across the state.”

Gonzalez was recently recognized by The Daily Record as one of Maryland’s Leading Women Under 40 for her professional achievements and leadership.

To learn more about TEDCO’s recent FDI activities, visit our press release page here; for more information about TEDCO overall, including funding opportunities and resources for entrepreneurial growth, visit our website at tedcomd.com.

About TEDCO
TEDCO, the Maryland Technology Development Corporation, enhances economic empowerment growth through the fostering of an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests in, and helps grow technology and life science-based companies in Maryland. Learn more at www.tedcomd.com.

Media Contact
Direna Cousins, Vice President, TEDCO, [email protected]
Rachael Kalinyak, Associate Director, Marketing & Communications, TEDCO, [email protected]

SOURCE TEDCO