New funding from MK Capital, Joint Effects, Hub Angels and existing investors to drive geographic and digital expansion of its mission to deliver Production Intelligence for the Next Generation™ 

NASHUA, N.H., May 10, 2023 — Datanomix the leading production intelligence platform for precision manufacturers, announced it has raised $12M in new growth capital. The round was led by MK Capital and Joint Effects, with investment participation from Hub Angels, multiple Datanomix customers, and previous investors Gutbrain Ventures, PBJ Capital, and CEAS Investments. Mark Koulogeorge of MK Capital will be joining the company’s Board of Directors.

“Over the last two years, Datanomix has taken the market by storm with significant customer growth and product leadership,” said John Joseph, CEO and Co-founder of Datanomix. “Our No Operator Input™ approach to production monitoring, which does not burden operators with any data entry, frankly awoke a sleeping market that has been waiting for innovation. We are proud that our brand has been recognized by leading customers, partners and investors for the differentiation and impact we are providing to industrial manufacturers.”

Production monitoring as a category has been largely focused on asset utilization and downtime reason code collection. Datanomix pioneered a new methodology, the aforementioned No Operator Input approach, which takes downtime reason codes, the overburdening of operators, and complex data integration requirements completely off the table.

“When Datanomix arrived on the scene, production insight had stagnated,” said Kylan Hastreiter, Vice President at Hastreiter Industries. “ERP systems had not evolved, and still only gave high level job stats after the fact, when it was too late to make improvements. Some monitoring systems had their user interfaces slightly updated, but the methodology was unchanged from the last decade where raw data is collected, operators are tasked with tedious data entry and tagging, and interpretation is left to manufacturing personnel who are already overloaded. Real-time, zero-burden insights were the gap that needed to be closed, and Datanomix has delivered that.”

Greg McHale, Co-Founder and CTO at Datanomix, added, “We spent hours with manufacturers who were using prior-generation monitoring systems, and saw exactly why operator input, complex integrations, and asset utilization alone were not transforming how they ran their businesses. While the category is called production monitoring, this is really about production management. Monitoring is a passive word, and people get into monitoring not to be passive, but to actively manage their operations better. What the market was missing was a vendor who believed it was their responsibility to provide context, insight, and impact that causes people to get out of their chair and respond because of what has been uncovered in their production data.”

Datanomix counts customers large and small in its success stories. From a handful of machines to hundreds in the same or multiple facilities, Datanomix serves operations ranging from household OEM’s to major tier 2 suppliers to job shops. Datanomix has had particular success displacing legacy vendors, as showcased on its dedicated site where customers share their tales of making the switch to Datanomix after giving up on other monitoring solutions.

Datanomix has similarly caught the attention and trust of several major partners such as Hexagon, Vallen, Caron Engineering, ProShop ERP, and Flexxbotics. These partnerships span from deep technical integrations to resale, and broaden the reach and ability to serve customers and geographies who need access to critical production insights to drive their company forward.

“Onshoring is a major investment theme of ours,” said Mark Koulogeorge, Founder and Managing Partner of MK Capital, “and we have an obligation, even beyond the capital, to contribute to American competitiveness, especially in manufacturing. Datanomix is clearly the transformational technology in this rapidly emerging category, with a product foundation that puts them in position not only to lead today, but to continue to acquire, analyze, and provide insight into additional digital and operational assets on the manufacturing floor. John and Greg are experienced veterans to start-ups and new markets, and I am honored to be joining the Board to help implement the vision of Datanomix and be part of this massive opportunity to transform manufacturing.”

The growth capital will fuel deeper product development and data source integrations in key production areas such as tooling and quality, and further investment in the industry-leading customer success and training programs Datanomix has built.

About Datanomix
Founded in 2017, the Datanomix mission is to deliver Production Intelligence for the Next Generation™ by providing high quality, high impact, low burden operational insights to industrial manufacturers. Its flagship offerings include its No Operator Input™ Production Monitoring platform and Digital GEMBA Boards™. Learn more at www.datanomix.io and follow us @DatanomixInc

Press Contact:
Lisa Saunders
[email protected]
1-866-488-4369

SOURCE Datanomix

New findings from Inscribe show that the most commonly manipulated documents include tax forms and bank statements from top financial institutions

SAN FRANCISCO, May 10, 2023 — Inscribe, the leader in AI-powered document fraud detection, today released its 2023 Document Fraud Report, which examines global document fraud trends and tactics affecting fintechs and financial services companies. This year’s report revealed a 3x increase in document templates (fraudulent documents purchased online) detected in 2022. Report findings also show that first-party fraud is prevalent: 50 percent of fraudulent SMB loan application documents matched the pattern of first-party fraud rather than third-party fraud in 2022, and over 30 percent of fraudulent personal loan application documents matched the pattern of first-party fraud. Because these applicants are using their real identities (but inflating their income and creditworthiness), this type of fraud is difficult to detect.

“The availability of fake document generators and ‘novelty’ document sellers online—combined with the widespread use of sophisticated image-editing software like Adobe Photoshop—have made document fraud easier than ever to accomplish, and also more difficult to catch,” said Inscribe CEO and co-founder Ronan Burke. “But that’s not all: Social media platforms like Reddit, Telegram, and TikTok have made it easier for fraudsters to sell document templates and share forgery techniques. This almost effortless access to fraud-as-a-service makes it easy to understand how the number of document templates detected by Inscribe tripled in 2022.”

Less than 10 percent of document fraud is visible to the human eye. Many adjustments to names, account numbers, balances, and transactions simply can’t be seen. As a result, countless cases of fraud and credit abuse go undetected. Inscribe processes millions of documents every month and analyzed data across its global customer base to compile these trends. Other key takeaways from Inscribe’s 2023 Document Fraud Report include:

• First-party fraud is just as prevalent as third-party fraud. 12 percent of fraudulent documents have only the identity details edited (a sign of third-party fraud), while 42 percent have only financial details edited (a sign of first-party fraud). And 46 percent of fraudulent documents show alterations to both identity and financial details.
• Fake documents are easier than ever to acquire. Document templates (counterfeit, fake, or forged documents purchased online) have become an increasingly popular tool for fraudsters, with 2022 seeing a 3x increase in unique document templates detected.
• The most frequently manipulated documents include tax forms, business filings and bank statements. Specifically, W-2s and CP-575s, along with bank statements from Bank of America, Wells Fargo, TD Bank, PNC, and Navy Federal Credit Union.

Fraud is a tax on economic progress, with the cost often being passed down to consumers. Inscribe is dedicated to helping companies outsmart fraudsters with AI. The venture-backed company, which raised $25M in Series B funding earlier this year, has an experienced team of data scientists and engineers who operate like investigators and use the latest advancements in AI technology to unlock invisible document fraud signals. Because Inscribe was first in the document fraud space and has spent years working with such a wide range of customers, it has the largest document network in the industry.

Download the full 2023 Document Fraud Report here. For more information on Inscribe, please visit our website.

About Inscribe

Inscribe helps companies fight document fraud with award-winning AI technology. By automating manual reviews, Inscribe customers can reduce fraud and credit losses while increasing customer win rates and employee efficiency, as well as protect their reputation. Founded in 2017, Inscribe is trusted by leading fintechs like TripActions, Plaid, Bluevine, and Ramp. Inscribe is backed by Threshold Ventures, Uncork Capital, Y Combinator, Crosslink Capital, and Foundry, and is headquartered in San Francisco, CA. Learn more at inscribe.ai.

SOURCE Inscribe

 , May 10, 2023 — Alpha Impact 8 Ventures (AI8 Ventures), a venture capital firm that invests in women and minority-led startups, today announced the appointment of Nikolas Schrobenhauser as Co-Managing Partner. Mr. Schrobenhauser, who will sit on the firm’s management and investment committees, will focus on expanding the firm’s overall growth in the United States and abroad and will co-manage day-to-day business operations.

“We are delighted to welcome Nik to the AI8 team,” said Carlos Ochoa, Founder and Managing Partner of AI8. “For over 16 years, Nik has successfully led business teams across corporate development, strategy, and sales. His expertise and leadership will help guide AI8 as we usher in our next growth phase as an organization.”

“I’m thrilled to be partnering with the team here at AI8 to help grow our business and cement our standing in the venture capital community,” said Mr. Schrobenhauser. “AI8 is uniquely positioned within the industry as it emphasizes impactful investing through diversity and inclusion. I am confident that our past success and future goals will resonate with investors seeking seasoned operators who can provide differentiated investment exposure while delivering prudent capital management.”

Mr. Schrobenhauser’s appointment to the position highlights a broader growth initiative for AI8 as it focuses on expanding its investor base globally and broadening its fund offerings. Mr. Schrobenhauser joins AI8 after spending 16 years in leadership positions at Och-Ziff Capital Management and K2 Advisors, among others. He began his career in management consulting and later spent time as a US equity trader before moving into alternative asset management.

About AI8
AI8 is a minority-owned venture capital firm with Future of Work, Fintech, Digital Education, and Impact and Sustainability investing expertise. The firm was founded in 2017 by Carlos Ochoa and Dion DeLoof after founding and leading multiple startups to successful exits. The firm has offices in San Francisco, California, and employs a remote workforce with colleagues across the US and Latin America. For more information, please visit www.alphaimpact8.com.

Contact: [email protected]

SOURCE Alpha Impact 8 Ventures

$3 Million Series A Extension Continues Validation of Company’s Commercial Strategy.

ATLANTA, May 10, 2023 — Micron Biomedical, a life science company developing first-in-class dissolvable microarray-based products that are simplifying and advancing the delivery and administration of drugs and vaccines, today announced it has secured an additional $3 million investment from J2 Ventures, bringing its total Series A funding to $17 million. Announced originally in November 2022, the Series A was led by Global Health Investment Corporation (GHIC) and LTS Lohmann with participation from GRA Venture Fund.

The Series A extension will further support efforts to bring the company’s dissolvable microarray-based drug and vaccine products to markets globally, providing convenience and access in high income markets, including a focus on national health security, and meeting the needs of under-served populations in low- and middle-income countries. J2 Ventures Partner and former Chief Medical Officer of the Defense Innovation Unit, US Department of Defense, Dr. Matt Goldman, will join Micron’s board as an observer.

Micron’s patented microarray technology allows drugs and vaccines that today require cold storage and administration through injection to be self-administered or caregiver administered within minutes, without the need for refrigeration or administration by a skilled health professional. The technology significantly expands access by simplifying transport, storage and administration and eliminates traditional injection sharps waste. Completed trials show clinical efficacy and strong patient preference for Micron’s technology over injections.

“We’re excited by J2 Ventures’ support of our commercial strategy to bring important drug and vaccine products to markets globally,” said Micron CEO, Steven Damon. “We’ve been speaking with the team since they learned about us after our initial financing, and their participation coincides with significant commercial interest from their network, helping to further our goal of making this technology widely available to patients.”

“Our fund specializes in working with best-in-class deep technology that is primed to scale with government and Micron Biomedical is an obvious fit,” said Alexander Harstrick, Co-Founder and Managing Partner at J2 Ventures. “We are thrilled to support Micron’s efforts that have the potential to radically disrupt the most significant logistical obstacles in delivering pharmaceutical and vaccine products to both private sectors and the government. Products that utilize the Micron technology have the potential to accelerate positive global impact including national security and veteran health.” 

About Micron Biomedical 
Micron Biomedical is the leader in the field of dissolvable microarray-based, drug and vaccine administration technology. Micron Biomedical is a clinical stage life science company on a rapid path to commercializing its proprietary applicator-free, dissolvable, microarray technology. Micron’s technology is designed to improve access and achieve better health outcomes globally through injection free, painless, and simple and/or self administration of drugs and vaccines, and by eliminating or reducing the need for cold chain transport and storage, enhancing safety and efficacy, and improving patient compliance. Micron has partnered with or received funding from private and public pharmaceutical and biotech companies, the Bill & Melinda Gates Foundation, the Centers for Disease Control and Prevention (CDC), UNICEF, PATH and the Georgia Research Alliance. For more information visit www.micronbiomedical.com 

About J2 Ventures
J2 Ventures is an early-stage venture-capital firm that specializes in companies looking to bring transformational technologies to the private sector while also serving the unmet needs of the U.S. government. The firm focuses on areas such as artificial intelligence and machine learning, healthcare and material science. Formed in 2020 by Alexander Harstrick and Jonathan Bronson, J2 Ventures has had a meteoric rise in the VC landscape, known for building strong relationships with the management teams of its portfolio companies and creating value by leveraging the firm’s significant resources and network. The firm’s partners have invested over $4 billion in venture, private equity and defense, and approach each investment with a “whole-firm” mindset that ensures the firm brings the best to the entrepreneur. J2 Ventures is based in Boston, Massachusetts with additional presences in Washington, DC, San Francisco, California and London, England. Learn more at www.j2vp.com.

Media Inquiries:
Micron Biomedical, Inc
Public Relations
[email protected]

SOURCE Micron Biomedical, Inc.

Raises $4.5M Seed round, led by Pear VC and NEA, to reshape how work gets done

SUNNYVALE, Calif., May 10, 2023 — Today Orby AI (“Orby”) has announced that it emerged from stealth to further develop its AI platform designed to democratize the use of Generative AI to automate repetitive human processes. The company also announced that it has raised $4.5M in seed funding from lead investors Pear VC and New Enterprise Associates, Inc. (NEA), with additional investment from Wing VC. The funding will be used to continue growing the team and further the research and development. Through its beta-stage development thus far, Orby has partnered with some of the world’s largest tech enterprises and other medium-sized companies.

According to a McKinsey Future of Work report, 60% of jobs have at least 30% of the work that is repetitive and automatable¹. Much of that work entails processing payments across finance and accounting departments, ticket resolution for customer support, and inputting lead management data for sales teams. Orby provides a unique “observe, learn, and automate” end-to-end experience. Orby observes a user’s activities, identifies repetitive work steps, and automatically generates code that ultimately automates these tasks. Moreover, Orby works behind the scenes to continuously learn from human feedback, becoming smarter over time with no coding involved whatsoever.

“If we think about an abacus, a computer, or any software, we have always learned to use tools to help us do our work,” shared Bella Liu, Orby AI’s Co-Founder and CEO, and Will Lu, Orby AI’s Co-Founder and Chief Technology Officer. “What if AI can learn from us and then just do the work for us?”

They continued, “With the continual breakthroughs in AI, especially foundation models, and Orby’s world-class AI/ML talent team, we are excited to push the boundaries of what AI can do to revolutionize how people interact with AI.”

“Upon meeting Orby AI’s team, our views on AI automation’s potential found a perfect match. Our partnership has led to a world-class team that exceeds expectations, forging the future of AI observation and actions. Orby’s technology, already trusted by large enterprises, enables robust workflow automation at the speed of innovation for both enterprises and end users — a game-changer. We’re thrilled to partner with Orby AI, ushering in this transformative future.” said Arash Afrakhteh, Partner at Pear VC who also joined Orby’s board of directors.

“The Orby AI founding team has a clear vision, deep domain knowledge, and technical expertise in building state-of-the-art AI systems. We are impressed with their lightning speed to productize AI research capability and iterate based on real customers’ feedback. We are excited to partner with this team to see them fundamentally change how people get their work done.” said Scott Sandell, Managing General Partner at NEA. 

Orby AI’s founding team has spent the last decade in the AI automation industry and deeply understands the problem and solution space firsthand. Bella Liu led the AI product team at UiPath, a leading software automation company, from the early stage to post-IPO. Will Lu led the engineering team at Google Cloud AI and built state-of-the-art AI systems from scratch, including Knowledge Service, Doc AI, and Enterprise Knowledge Graph. Working with Liu and Lu at Orby is a deeply knowledgeable team consisting of world-class AI/ML researchers and engineers from Google, Stanford, and other leading AI startups.

About Orby AI

Orby AI is building the next-generation AI platform to bring the “auto-complete” experience to everyday business users and automate all mundane and repetitive tasks. Orby AI is backed by top-tier VCs with a track record of investing in category-defining companies. The company is founded by and employs a strong team with deep AI domain expertise. The Orby AI team is creating a future in which everyone can use AI to save time and achieve their full potential. To learn more, please visit www.orby.ai.

To sign up for the private beta waitlist, please fill in a short form here. The team is growing and open to hiring more talent to join the mission. Please visit the link here for more details or directly reach out to the team.

Orby AI Contact:

[email protected]

Sources:

1. McKinsey Global Institute. “A Future That Works: Automation, Employment and Productivity” January, 2017.

SOURCE Orby AI

Qarbon Technologies announces close of US$5.5 million seed funding round and launch of world’s first SaaS-based orchestration platform for secure, seamless integration of data center infrastructure and customers’ existing business applications.

SINGAPORE, May 10, 2023 — Qarbon Technologies Pte. Ltd., a Singapore headquartered enterprise technology company, today announced the official launch of its innovative SaaS solutions to transform the global data center industry. Qarbon’s founders include data center, telecom, and technology veterans with more than a century of combined global experience.

Today, almost every data center in the world runs a unique infrastructure stack, making customers contend with a nearly endless array of data sources across their operations, including connectivity, power, water, air conditioning, monitoring, security, and inventory. Customers must employ dedicated resources to access, aggregate, clean, convert, and integrate this data into their own business systems. This highly manual workflow makes it nearly impossible for customers to monitor, manage, or automate their data center operations in real time, thereby increasing costs, creating service challenges, and generating audit issues for their businesses. Despite huge investments in digital transformation, accessing the data about the data center remains a highly manual process.

Qarbon will transform the status quo for digital infrastructure customers.

Qarbon enables the true digital transformation of data centers, from real estate to technology platforms ready for infrastructure-as-code, by creating the world’s first open, neutral, standards-based orchestration platform for data centers and their customers.

Qarbon is making its industry debut at the 16th International Telecoms Week (ITW) trade show (the premier event for the digital infrastructure industry) in Maryland, USA from 14 to 17 May.

Ahead of the conference, Qarbon’s Founder and CEO, Robert Davidson said, “Qarbon transforms the data center experience for operators and customers globally, making it more efficient and secure, and enabling true, real-time automation and infrastructure-as-code. We are developing a category-creating enterprise SaaS solution that gives customers seamless access to the data they need about every data center they use. Qarbon enables customers to use the data center solutions they want, when they want, where they want.”

“Qarbon’s solutions are needed today and will be essential to the global data center industry in three years’ time,” said Randy Brouckman, CEO of EdgeConnex. “Multiple industry megatrends, from AI to IoT and hybrid cloud services are causing a deluge for the data center ecosystem, which will make secure, fully automated and auditable workflows critical moving forward.”

Qarbon’s first product, LATTICE™, is in trials with multiple industry-leading early adopters and is scheduled for a beta release in Q3 of 2023. The SaaS-based platform onboards the entire tech stack of each data center, providing users with a single, ubiquitous interface between the operator and their business systems which eliminates the complexity, friction, cost, security, and observability issues caused by today’s predominantly manual workflows.

LATTICE™ will launch with cross-connect order orchestration and a roadmap to automate (including integrating AI/ML) all the data generated by data center infrastructure. This will include power, water, security, air conditioning, temperature, humidity, inventory, along with the physical connections and operating processes that tie it all together.

In addition to cost-savings, automation, enhanced security, and auditability, LATTICE™ will also enable seamless, standardized reporting of ESG data, including Scope I and II CO₂ emissions. Customers will be able to access real-time, standardized power, water, and CO₂ data, for their data center related ESG reporting through a button-click.

Qarbon’s public launch follows the close of its US$5.5 million seed funding round, led by Meta Technology Capital, the technology investing arm of a prominent Singapore-based family office. “We could not be more pleased to have raised US$5.5 million of seed capital for Qarbon, particularly given the current challenges in the funding environment, and are excited to partner with Meta Technology Capital; we look forward to delivering great results for them, our customers, and our other stakeholders,” said Mark Smith, Co-Founder and Executive Chairman of Qarbon. Prior to co-founding Qarbon, Mark led Digital Realty’s business in Asia-Pacific, and is a thirty-plus-year veteran of the technology, telecom, cloud, and data center industries.

Qarbon also unveiled an Industry Advisory Board of data center and telecom industry heavyweights, welcoming as Senior Advisors Randy Brouckman, CEO of EdgeConneX; Marc Halbfinger, CEO of PCCW Global; Pieter Poll, former CTO of CenturyLink; and Tony Rossabi, Co-Founder of OCOLO and former Managing Director at Digital Realty / Telx.

About Qarbon Technologies

Qarbon is creating the world’s first SaaS-based orchestration platform for secure, seamless integration of data center infrastructure and customers’ existing business applications. It unlocks data contained in a multitude of data center infrastructure systems and seamlessly integrates it with customer’s business applications like ServiceNow and Salesforce. Qarbon’s first product, Qarbon LATTICE™, provides customers with a single, ubiquitous interface between their data centers and their business systems, eliminating the current complexity, friction, cost, security, and observability issues caused by existing manual workflows and enabling secure, plug-and-play workflow automation. Whether to reduce energy costs, increase operating efficiency, track inventory, comply with ESG reporting, or anything else—Qarbon is your solution for data about the data center.

To learn more about Qarbon, please visit www.qarbontech.io or follow us on LinkedIn or Twitter.

SOURCE Qarbon Technologies Pte. Ltd.

Global Venture Capital Firm Hires Boatsetter Founder to Play Leading Role in Its Ambitious Growth Plans

MIAMI, May 9, 2023 — Today, IDC Ventures (IDCV) announced the appointment of Jaclyn Baumgarten as a Miami-based Managing Partner and the head of its US operations. Baumgarten, a seasoned tech entrepreneur, will spearhead the Copenhagen-based venture capital firm’s expansion into the US market.

Previously, Baumgarten founded IDCV-backed Boatsetter, a technology- and data-driven global marketplace that aims to make on-demand boating accessible and affordable to anyone, anywhere.

Baumgarten will bring her experience and expertise in scaling this global business to IDC Ventures and its portfolio companies. With her proven entrepreneurial track record, Baumgarten is poised to play a pivotal role in IDCV’s growth strategy as the platform expands its operations in the United States.

“I am honored and excited to join the team at IDC Ventures,” said Baumgarten. “I have had the pleasure of working with IDCV for years through their investment in Boatsetter, and have seen firsthand how they are focused on adding value for their portfolio companies. I very much appreciate IDCV’s win-win approach to long-term partnerships, its founder-first culture, and its global network of top entrepreneurs and investors. I am passionate about supporting innovative startups, and I am eager to contribute my experience and insights to help IDC Ventures and its portfolio companies.”

At Boatsetter, Baumgarten led the startup’s rapid growth – including M&A activity, multiple rounds of funding, and partnerships with major brands such as Geico. Her vision and strategic direction helped Boatsetter become a leader in the sharing economy, revolutionizing the boat rental industry.

“We are delighted to welcome Jaclyn to our team as a Managing Partner,” commented Bobby Aitkenhead, Managing Director of IDC Ventures. “Her entrepreneurial spirit, deep industry knowledge, and strong leadership skills make her the perfect fit for our organization as we continue to drive innovation across the marketplace and fintech sectors. I look forward to working closely with Jaclyn as we grow our funds in the US.”

In her role as Managing Partner, Baumgarten will be instrumental in identifying and nurturing innovative startups, developing strategic partnerships, fundraising, and driving value creation for portfolio companies. Her deep understanding of the startup ecosystem and her ability to identify promising investment opportunities will be invaluable as IDC Ventures expands its presence in the United States.

For more information, please visit www.idcventures.com.

About IDC Ventures
By entrepreneurs, for entrepreneurs, IDC Ventures (IDCV) seeks to identify, invest in, support, and propel disruptive companies at the forefront of digital innovation. IDCV backs industry-defining founders from Series A to growth stages in Europe, the US, and Latin America – and primarily in the verticals of fintech and marketplaces. IDC Ventures is the venture capital arm of the IDC Network, a multi-fund platform.

Learn more here.

Media Contact:
Benito Besada
[email protected]

SOURCE IDC Ventures

Consumer Growth Equity Firm, Co-Founded by Aaron Rodgers, Expands Its Platform and
Adds Additional Celebrity Investors

ORANGE COUNTY, Calif., May 9, 2023 — RX3 Growth Partners today announced the close of its second fund, oversubscribed at nearly $150 million. RX3 is now one of the largest talent-backed dedicated consumer growth equity firms. The firm augments its investment strategy with value-add capabilities in growth-stage companies across the consumer landscape.

Four-time NFL MVP, Super Bowl Champion and new NY Jets Quarterback Aaron Rodgers co-founded the firm and serves as a General Partner. He is joined by fellow co-founders Nate Raabe, Managing Partner, and Byron Roth, Executive Chairman of ROTH MKM.

“This marks an exciting time for all of us at RX3,” said Co-Founder Aaron Rodgers. “Our family of athletes, musicians, actors and business leaders not only adds to the unique RX3 community we have built, but also allows us to invest in and support category leading growth-stage, consumer brands,” he continued.

With this second fund, RX3 has successfully expanded its roster of influential Limited Partners to include a diverse group of celebrities and athletes, including Christina Aguilera, Colson Baker (Machine Gun Kelly), Jared Goff, Josh Allen, Josh Duhamel, Marshmello, Michael Phelps, Miles Teller, and Thomas Rhett, to name just a few. These additions create even more opportunities for the fund to enter new categories in which RX3’s authentic value-add is uniquely aligned.

In addition to its Limited Partners, Fund II is supported by prominent advisors, including Vanessa Hudgens and Kevin Hart’s Hartbeat Ventures, who bring deep industry relationships and expertise to RX3.

RX3 Growth Partners seeks to partner with companies who are well-positioned to benefit from the firm’s innovative, full-funnel approach to drive growth through authentic talent and brand-oriented partnerships. The RX3 team identifies a mix of growth and later-stage investment opportunities across the consumer market where RX3 partners and investors can provide access and value beyond capital. RX3 seeks to foster authentic relationships where celebrities are stakeholders in a brand’s long-term success.

“We are grateful for the continued support from our existing and new Limited Partners who have embraced our differentiated investment platform,” said RX3’s co-founder and Managing Partner, Nate Raabe. “We believe our oversubscribed Fund II is a testament to the quality of our team, partners, value-add strategy, and track record,” he added.

For more information, please visit: https://www.rx3growthpartners.com/

About RX3 Growth Partners
RX3 Growth Partners, an institutional growth equity firm, was founded in 2018 and is backed by a community of athletes, celebrities, and professional investors. The firm seeks to align itself with high-quality brands that resonate with its investor network to help drive consumer awareness and long-term growth. This differentiated strategy allows the firm to offer value beyond capital to the next generation of leading consumer brands.

SOURCE RX3 Growth Partners

SAN FRANCISCO, May 9, 2023 — GrubMarket today announced that it has been named to the 2023 CNBC Disruptor 50 list, a highly prestigious honor awarded to the fastest-growing and most innovative private companies disrupting their industries and changing the world through technology. This recognition is a testament to GrubMarket’s commitment to being one of the most important global technology enablers and digital transformers for the food industry.

This honor comes on the heels of a remarkable period of company growth that includes several significant milestones – launching the transformative GrubPay payment platform; establishing GrubMarket’s “Sustainable California“ initiative to support agricultural sustainability across the country; and surpassing $1.5 billion in revenue while improving on profitability in 2022.

“We are proud to be among the select few recognized on the 2023 CNBC Disruptor 50 list,” said Mike Xu, Founder and CEO of GrubMarket. “Our inclusion is a reflection of our team’s hard work and incredible dedication to digitizing the food supply chain in order to create a more sustainable and equitable food system. As we continue to build on our trajectory as a mission-driven technology enabler and driver of digital transformation for the food industry, we will cement our position as one of the world’s fastest-growing and most profitable food tech companies for years to come.”

The CNBC Disruptor 50 list highlights today’s most forward-thinking and ambitious companies that are fundamentally changing their industries. GrubMarket joins a venerable group of companies that have been featured on the list over the years, including Snowflake, Airbnb, Uber, and SpaceX. All submissions were subject to a comprehensive and rigorous process of research and evaluation across a wide range of quantitative and qualitative criteria, as well as feedback from CNBC’s editorial staff and a global pool of entrepreneurial experts from around the world. For the full list of Disruptor 50 companies, please visit www.cnbc.com/cnbc-disruptors.

About GrubMarket

Founded in 2014, GrubMarket is a San Francisco-based food technology company operating in the space of food supply chain eCommerce for both business customers and end consumers, as well as providing related software-as-a-service solutions to digitally transform the American and global food supply chain. Currently, GrubMarket operates in all 50 U.S. States; Ontario and British Columbia (Canada); Argentina, Chile, and Colombia (South America); Egypt, India, Mexico, South Africa, and Spain, with plans to expand to the rest of the U.S., Canada, South America, and other parts of the world.

For Media Inquiries:

GrubMarket Media Team
[email protected]
(415) 986-0523

GrubMarket
1925 Jerrold Ave.
San Francisco, CA. 94124

SOURCE GrubMarket