WASHINGTON, May 3, 2023 — Range, the all-in-one AI WealthTech platform, announced it had raised $12m in funding led by Gradient Ventures, Google’s AI-focused venture fund. The round also included Expa (founded by Garrett Camp, former Chairman and Co-founder of Uber), Red Sea Ventures, 8-bit Capital, and individuals Randy Reddig (co-founder, Square), Adrian Aoun (CEO & founder at Forward Health), Severin Hacker (co-founder & CTO of Duolingo), and Dan Lewis (co-founder & CEO of Convoy).
“We started this company to help families better manage their wealth,” said Fahad Hassan, co-founder and CEO of Range. “With our new investors and their experience in AI, we believe this partnership and financing will allow us to assist families during unprecedented times of economic change and uncertainty. Our products will allow everyone to access the advice and tools typically only available to the wealthy.”
The funding will be used primarily to grow the product and engineering teams to accelerate offerings to Range’s customers. Range plans to integrate their wealth management tools with various AI technologies to automate aspects of wealth and tax planning.
“Understanding your current wealth and where your family can develop new opportunities for wealth creation is on the minds of everyone. The team at Range is determined to leverage new technologies, specifically AI and large-language models, to give families more control and visibility into their financial future,” said Darian Shirazi, General Partner at Gradient Ventures, who also joins Range’s board of directors. “We’re thrilled to partner with Fahad, David, and the entire Range team as they pursue their noble vision to improve the financial lives of families globally. “
Range was founded in 2021 by Fahad Hassan and David Cusatis. An all-in-one wealth management tool to make financial planning accessible to everyone, Range has in-house financial advisers to optimize investment services, tax planning, estate planning, retirement planning and insurance needs.
ABOUT RANGE Range puts wealth management into the hands of everyone with a platform aimed at simplifying and democratizing access. The all-in-one tools are powered by proprietary AI technology and aided by a team of world class licensed financial advisors. With no minimums required, personalized guidance, financial tools, machine-learning insights, and 24/7 support, Range is revolutionizing the wealth management industry. For more information, visit www.range.com.
ABOUT GRADIENT VENTURES Gradient Ventures, Google’s AI-focused venture fund, helps founders build transformational companies. The fund focuses on helping founders navigate the challenges in developing new technology products, using the latest best practices in recruiting, marketing, design, and engineering so that great ideas can come to life. Gradient was founded in 2017 and is based in Palo Alto, California. For more information, visit www.gradient.com.
BETHESDA, Md., May 2, 2023 — SAR, a data analytics company specialized in U.S. public company risk management solutions, is pleased to announce the closing of a capital investment in the Company led by institutional investor, Anthem Management (“Anthem”). Anthem’s investment provides SAR with long-term growth capital to execute on the organization’s mission and innovation roadmap. SAR also welcomes Daven R. Shastri, Managing Partner of Anthem, to the newly created Board of Directors. Shastri brings proven institutional investing experience to the board with tenures at Goldman Sachs and Diameter Capital Partners prior to founding Anthem. His insights into capital allocation and strategy will provide invaluable counsel to the Company.
Shastri remarked, “We’re excited to have completed our investment in SAR. Our focus on secular growth and strong leadership makes SAR a compelling partner at this stage of the Company’s lifecycle. We look forward to working with Nessim and the entire SAR team to continue driving innovation and responsible disruption in the space. Our investment in the Company represents a long-term commitment to both the business and industry. We’re thrilled to be able to provide support to SAR as it grows into a core service provider for insurance clients.”
Leading global insurance companies rely on the SAR Platform with integrated fit-for-purpose data analytics tools to protect publicly traded companies and their directors and officers. This capital infusion will strongly advance SAR’s implementation of the U.S. Federal Court-approved event study methodology to institutionalize its application to better-serve global insurers with robust public company underwriting analytics, diligent handling of complex securities claims, and empirically backed actuarial support.
“Focus and diligence have served SAR well since our inception. I am confident in selecting Anthem to be our lead long-term capital growth partner. With Daven on our Board, SAR will lead the public company D&O insurance space through responsible technological innovation by advancing the development of new risk management solutions for publicly traded companies listed in the U.S.,” said Nessim Mezrahi, CEO of SAR.
About SAR
SAR is a pioneer in public company risk management data analytics solutions. The Company was founded in 2018 and relies on specialized data science that implements U.S. Federal Court-approved methodologies to identify and track adverse corporate events that impact stock price performance of U.S. and non-U.S. issuers that trade on the NYSE and NASDAQ. Through a cloud-native platform, SAR dispenses comprehensive data-driven insights for leading global insurance companies and their distribution partners. Highly specialized expertise, decades of independent empirical research, and tried and true technologies, have established SAR as an innovation leader in public company data analytics solutions anchored by human accountability.
Regulatory Submission Management pioneer invests in new way for regulatory affairs and risk management teams to maximize speed and success of their submissions
LOS ANGELES, May 2, 2023 — Essenvia, the pioneer in regulatory submission management for the MedTech industry, today announced it closed $4M in Pre Series A financing led by Benhamou Global Ventures and Wavemaker360 with participation from existing investors First Rays, Rebright partners, as well as Pasadena Angels. The company announced the appointment of Wavemaker360 partner Kwame Ulmer and BGV Partner Yashwanth Hemaraj to Essenvia’s board of directors.
“Investing in Essenvia was an easy decision,” said Kwame Ulmer, Partner at Wavemaker360. “As someone who’s spent over 20 years in the industry as well as 12 years at the FDA, I’ve seen all of the pitfalls medical device manufacturers hit when navigating the complexity and pace of regulatory changes to bring their products to market. This gap has been amplified by a new wave of digital health regulations. Essenvia is the only solution that has actually dealt with every single one of them through its highly effective, easy-to-use platform. It’s no wonder their customers have a 100% acceptance rate – nobody else in the industry can claim that.”
According to the FDA, 71% of regulatory submissions are rejected, costing manufacturers an estimated $1.8M in lost revenue for every 6-8 weeks in delay – the statistic holds true even for MedTech companies with less than 50 employees. This burden puts regulatory affairs teams squarely in a position to either accelerate or stifle the market potential of new devices.
“Enterprise 4.0 businesses are reshaping the fundamentals of automation-led value creation,” explains BGV partner Yashwanth Hemaraj. “Essenvia is leveraging disruptive AI technologies with novel data sets to offer a verticalized solution that supercharges the work of MedTech regulatory professionals. By providing frictionless deployments that are embedded directly into existing workflows, their solution can generate immediate gains for end customers.”
Essenvia’s fundamentally different approach to regulatory submission management is being rapidly adopted by MedTech organizations worldwide. Unlike conventional Regulatory Information Management (RIM) tools, documents, or spreadsheets, Essenvia has zero technical implementation time and works seamlessly with a regulatory team’s existing process. The platform empowers teams to natively collaborate on 510(k), MDR and IVDR submissions directly inside of a submission, error check them, dynamically publish and re-publish them with one click, and instantly submit using the latest agency-specific technical requirements. This saves regulatory professionals dozens of tedious hours wasted on researching information, eliminates submission errors, and radically shortens submission time to market. Essenvia has a 100% acceptance rate across hundreds of different types of complex global submissions including 510(k)s, MDR and IVDR tech files.
“Regulatory affairs professionals are on an unsustainable path of doing more with less, faster, with a significant impact on a MedTech company’s commercial goals,” said Soumya Mahapatra, Essenvia’s Co-founder and CEO. “The only way to keep up is to change the paradigm with a platform that is built for the modern way they work and interact with their cross-functional teams and regulatory agencies. We’ve built just that – and we’re just getting started.”
Essenvia is pioneering the regulatory submission management process with:
Market-leading submission editing and collaboration
One-click preview and publishing
Real-time error analysis
Dynamic reference and appendix building
Secure file vault with PDF auto-conversion
Native eStar submission
No technical implementation – get started on day 1
Essenvia is the pioneer in regulatory submission management for the MedTech industry. Unlike conventional Regulatory Information Management (RIM) tools, documents, or spreadsheets, Essenvia has zero technical implementation time and works seamlessly with a regulatory team’s existing process. The platform empowers teams to natively collaborate on 510(k), MDR and IVDR submissions directly inside of a submission, error check them, dynamically publish and re-publish them with one click, and instantly submit using the latest agency-specific technical requirements. This saves regulatory professionals dozens of painfully tedious hours wasted on researching information, eliminates submission errors, and radically shortens submission time to market. Essenvia has a 100% acceptance rate across hundreds of different types of complex global submissions including 510(k)s, MDR and IVDR tech files. Essenvia is backed by leading venture capital firms including Wavemaker360 and Benhamou Global Ventures. Learn more atwww.essenvia.com.
About Wavemaker 360
Wavemaker Three-Sixty Health (Wavemaker 360) is the nation’s leading seed-stage healthcare pure-play venture fund in the U.S., focused on disruptors in the areas of health-tech, digital health, medical device, telehealth, artificial intelligence, pharma-tech, science and marketplaces. Wavemaker 360 stands apart as one of the few venture funds in the U.S. that discovers, vets and invests solely in healthcare startups at the seed funding stage. The fund connects its portfolio companies to a network of 300 Limited Partners (LPs), comprised of healthcare entities and executives in virtually every area of healthcare. Headquartered in Pasadena, CA, Wavemaker 360 is led by a cross-functional, bi-coastal team of eight visionary partners, with additional guidance from a distinguished Council of Strategic Advisors.
About BGV
BGV is a venture capital firm with deep Silicon Valley roots and an exclusive focus on global Enterprise 4.0 technology innovation. The partnership sources companies from innovation hubs around the world and deploys financial and human capital from seed stage to IPO. With offices in Palo Alto, Tel Aviv, Paris, and Mumbai, BGV has championed a cross-border venture investing model with a portfolio representing businesses in the US, Israel, Europe, and India.
DALLAS, May 2, 2023 — MB2 Dental (“MB2” or the “Company”), a leading dental partnership organization, today announced the closing of an amendment to the Company’s existing debt facility, establishing a new delayed-draw term loan (“DDTL”) in the aggregate principal amount of $150 million.
MB2 also completed a successful fundraise for its ninth internal investment “sidecar” vehicle, totaling a record $20 million. Since the inception of “sidecar” investments, MB2 doctor partners have invested over $75 million to help fuel the Company’s growth. This equity offering allows doctor partners to invest alongside the Company – a long-standing opportunity made exclusively to this group as part of MB2’s unique doctor-centric model.
Dr. Chris Steven Villanueva, Founder and Chief Executive Officer said, “We truly appreciate the support and collaboration from Charlesbank and our lenders, securing a path for ongoing growth in this challenging environment. We’re also excited to have our doctor partners continue participating in MB2’s record investment returns.”
The funding will be deployed towards upcoming acquisitions, expanding MB2’s current network of over 550 practices across 38 states.
About MB2 Dental
Dallas, Texas-based MB2 Dental is a first-of-its-kind Dental Partnership Organization (DPO) founded and led by dentist and entrepreneur CEO Dr. Chris Steven Villanueva, with a mission to empower dentists to preserve their profession. Since its founding in 2007, MB2 has partnered with hundreds of dentists to help them stay in the driver’s seat as they maximize their talents, connect as part of a community and build exceptional wealth. MB2 currently partners with dentists and specialists in more than 35 states. For more information, visit https://mb2dental.com.
ZUG, Switzerland, May 2, 2023 — Zug, Tangem AG, a leading provider of secure hardware wallet solutions, has announced the successful outcome of its latest investment round. The round came in at $8 million and was led by Web3 venture capital firm Shima Capital, with contributions from additional investors. It comes at a time of continued growth for the hardware developer and will help to propel Tangem to the next level.
Andrey Kurennykh, CEO of Tangem, shared his enthusiasm for the successful funding round: “We see great potential for our technologies to evolve as self-custodial storage experiences greater demand and more users choose to own their funds. The support from Shima Capital and the SBI Group will enable us to accelerate our growth and deliver enhanced solutions for secure digital asset management.”
With this new capital injection, Tangem is well positioned to expand its product offerings, further solidifying its position as a leader in the hardware wallet space. The company is dedicated to creating innovative solutions that empower individuals to take control of their digital assets, while providing the highest levels of security and ease of use.
“We’re thrilled to be leading this round for Tangem,” said Yida Gao, founder and Managing General Partner at Shima Capital. “The team is poised for rapid adoption and we see Tangem as a major player in the crypto hardware wallet space.”
SBI Digital Asset Holdings, part of the Japanese SBI Group and key investor in the first round, has expressed its enthusiasm with the deal, “Tangem’s cutting-edge technology and integration with payment networks are highly promising” said Fernando Vazquez, CEO of SBI Digital Asset Holdings.
For more information on Tangem and its range of secure hardware wallet solutions, please visit http://www.tangem.com
About Tangem
Tangem is a leading provider of secure hardware wallet solutions designed for the safekeeping and management of digital assets. Its mission is to empower individuals to take control of their digital wealth, with an emphasis on security, ease of use, and flexibility. Tangem’s innovative products have garnered significant interest from investors and customers alike, driving the company’s continued growth and success. For more information, visit http://www.tangem.com.
About Shima Capital
Shima Capital is a leading early stage VC firm, founded by Yida Gao in 2021, investing in disruptive blockchain companies. The fund is deeply focused on taking a hands-on approach and working closely with its portfolio companies to provide the most sweat equity per dollar invested. As teams in Web3 push the frontier of innovation, Shima helps hire talent, build community, amplify narratives, and foster the acceleration of technical research and development. Shima is composed of seasoned investors, accomplished operators, and former founders who align on a mission to support all-star teams with building and scaling generational companies. For more https://shima.capital/.
About SBI Digital Asset Holdings
SBI Digital Asset Holdings is a digital asset arm of the Japanese financial conglomerate SBI group. The company endeavors to bring innovation to the financial industry by building an ecosystem for issuance, custody, management, and liquidity for digital assets. SBI Digital Asset Holdings, via SBI group companies, has strong links with other group investments such as Ripple, R3, B2C2, Digital Asset Holdings, Securitize, Elliptic as well as Sygnum, Boerse Stuttgart Digital Holdings and Tangem among others.
NEW YORK, May 2, 2023 — VantagePoint, a finance transformation and technology implementation specialist, is proud to announce a new upcoming event, “Attracting investors: Scaling finance and operations for success“. In partnership with c-suite talent specialists Zanda, this exclusive event takes place in the heart of New York City on May 17, 2023 between 18:00-20:00 EST. Joined by expert panellists, they will discuss the key elements business leaders should be focusing on when preparing their organizations for attracting investors, securing funding and scaling their finance and operations functions.
Zanda logo
The panel
During this event, attendees will have the opportunity to learn from top industry professionals who will provide valuable insights including:
Hiring and enabling your finance team to raise funding in a challenging economic environment
How to build a successful accounting and finance function from scratch
The importance of aligning your finance and operations function with growth ambitions
How to prepare your people, processes and systems for a successful round of funding.
In addition to the panel of experts, attendees will have the opportunity to network with other business leaders and participate in an interactive Q&A session.
Don’t miss this unique opportunity to gain invaluable insights on how to become investor ready. Join VantagePoint and Zanda in New York on May 17 and take your finance and operations to the next level!
About VantagePoint: VantagePoint is a global finance transformation and technology implementation specialist committed to unifying and connecting finance functions to provide businesses with essential insight, control and compliance.
About Zanda: Founded in 2019, Zanda exists to accelerate sustainable growth in strong tech companies by surrounding founders with other talented leaders. For the last four years, Zanda has supported numerous tech startups ranging from Seed-Series D with full-time, interim and fractional talent, that elevates their team.
BrokerTech Ventures and ManchesterStory Launch new Venture Capital Fund to invest in early-stage insurtech companies focused on tech-enabled insurance brokerage.
DES MOINES, Iowa, May 2, 2023 — BrokerTech Ventures (BTV), the industry’s first broker-led convening platform and accelerator program, has partnered with leading insurtech venture capital investor ManchesterStory Group (ManchesterStory) to launch the BrokerTech Fund, LP, the first venture capital fund focused on early-stage insurtech companies developing broker-centric technology solutions. Limited Partners of the $34 million Fund include Holmes Murphy, M3 Insurance, Baldwin Risk Partners, UNICO Group, IMA Financial Group, Christensen Group, and The Graham Company.
“This is an exciting time for Holmes Murphy, BTV, and all of our partners who have worked tirelessly to get the BrokerTech Fund off the ground,” said Dan Keough, Holmes Murphy Chairman and CEO and BTV Co-Founder and Co-CEO. “We believe we’ve harnessed something special through the power of BTV. Now, using this new Fund as a catalyst for capital infusion, we’re even more bullish around the possibilities to change and innovate our industry even further and to impact the client experience even greater.”
ManchesterStory, the Fund’s General Partner, is a premier early-stage venture capital firm that manages more than $225 million in committed capital across multiple funds focused on emerging technologies in insurance, financial services, and healthcare.
“We are thrilled to team up with the owners and partners of BTV to manage the BrokerTech Fund,” said Dave Miles, Founding Partner of ManchesterStory. “BrokerTech Ventures brought front and center the voice of the broker community in insurtech innovation. With today’s launch of the BrokerTech Fund, BTV once again breaks new ground with the first-ever venture fund backed by a consortium of leading insurance brokers dedicated to helping insurance brokers better serve the needs of their insurance customers through technology.”
“Standing up a broker-focused venture fund has been M3’s vision since 2017, even before BTV fully came to life,” said Mike Victorson, M3 Insurance CEO and BTV Co-Founder and Co-CEO. “To see the BrokerTech Fund come to fruition in collaboration with Holmes Murphy and several of our BTV broker partners is nothing short of a dream come true.”
Based in the insurance nucleus of Des Moines, Iowa, BrokerTech Ventures (BTV) is the first broker-led convening platform and accelerator program focused on delivering innovation to the insurance broker industry. Founded in 2019, BTV provides a venue for the best minds in insurance and technology to collaborate and bring to market leading-edge ideas and solutions. BTV invests in the research and testing for each of the chosen startups, provides access to veteran industry mentors, and helps scale the technology to market through broker distribution channels. Learn more at www.brokertechventures.com, or follow us on Twitter (@BrokerTechVen), LinkedIn, or Facebook.
About ManchesterStory
Backed by more than $225 million in committed capital from insurance carriers & brokers, financial services firms, and health care institutions, ManchesterStory is a preeminent lead investor in early-stage startups driving technological innovation in InsurTech, FinTech, and HealthTech across North America and internationally. Learn more at www.manchesterstory.com.
ANN ARBOR, Mich., May 2, 2023 — Sniffer Robotics, a leading environmental technology enabled services firm, today announced first and substantial close of a $2 million seed funding round, led by the Michigan Angel Fund. Other investors include Michigan Rise, Naruhisa Nakagawa (founder of Caygan Capital), and Abhishek Desai of Desai Ventures (London).
The SnifferDRONE is the industry’s best available solution for detecting land-based methane leaks and quantifying emissions.
The SnifferDRONE is the industry’s best available solution for detecting land-based methane leaks and quantifying emissions. It is faster, more effective, and safer at identifying land-based methane leaks than a technician walking while inspecting the areas for leaks.
The SnifferDRONE is the industry’s best available solution for detecting land-based methane leaks. It performs faster, is more effective, and safer than the manual method of walking for miles to identify methane leaks.
The SnifferDRONE – the first and only drone solution for detecting methane emissions over landfills approved by the US EPA.
The start-up, founded in late 2016, developed a patented, drone-based solution to detect methane leak sources at ground level. Its Unmanned Aerial System (UAS), the SnifferDRONE™, is a comprehensive system to automate a hazardous and labor-intensive methane emission monitoring method where technicians walk miles to manually inspect landfills, natural gas pipelines, and similar land-based applications. In December, 2022, the US EPA recognized the benefits of Sniffer’s technology with the first and only approval of their automated tool for compliance. This system is used throughout the United States assisting sites to more accurately account for methane leaks, enhances gas collection, and reduce odors, for a triple benefit – operations, community, and the environment.
In a short period, Sniffer has become a top solution and service provider for ground based emissions monitoring. This capital raise provides funds for continued product development and expansion.
Skip Simms of the Michigan Angel Fund stated “We were happy to lead this Seed round for Sniffer Robotics. SR has a product and service that falls under the category of ‘why hasn’t someone already thought of this’. They now have first mover advantage in a huge market. The EPA has recognized their value for the environment and waste industry by approving them as a qualified vendor for reporting. Customers repeatedly confirm the value proposition with the savings they provide. And they have the IP to protect their launch. This capital gives them the fuel for acceleration.”
“I’m very grateful to the investors who see the value we offer our customers and the environment and look to harness the momentum from our US EPA approval and successful capital raise to drive the scale we all envision for this business” said Arthur Mohr, Jr, CEO.
Bodman PLC assisted Sniffer Robotics as legal counsel in the Series Seed financing.
Sniffer Robotics is a leading environmental technology enabled services firm serving waste, natural gas, biogas, and related industries. Sniffer’s technologies and services improve emission detection and measurement, odor leak identification, and revenue generation from increased gas capture for conversion to energy. To date, Sniffer has completed projects in 28 states on 150+ sites, identifying 16,500+ methane leak sources for remediation. Improving operations and our environment, Sniffer provides aerial (drone-based) and field services, automation tools, and comprehensive software analytics and reporting solutions.
Education Growth Partners fuels Uwill to accelerate company growth and expand student support
NATICK, Mass., May 2, 2023 — Uwill, the leading mental health and wellness solution for colleges and students, today announced it has completed a $30 million Series A funding round. The investment further cements Boston-based Uwill as one of the nation’s fastest growing EdTech companies and the preferred mental health partner of college leaders and students across the country. Education Growth Partners (EGP), a top private equity firm dedicated to providing growth capital in the education, workplace, and learning sectors, funded the investment.
“We have been particularly impressed by the company’s ability to work collaboratively with college leaders and existing mental health support to fill unmet needs on campus. Uwill’s solution offers high value to colleges and, most importantly, to students at a time when mental health is of paramount importance,” said Andy Kaplan, Managing General Partner at EGP. “The astounding impact and growth that Uwill has achieved in a short period of time cannot be overstated.”
Founded in 2020 to assist campus counseling centers as they face overwhelming student demand for mental health support, Uwill has quickly cultivated a reputation as the premier mental health solution serving more than 1.5 million students worldwide. In just three years, Uwill has built relationships with more than 150 colleges and has achieved 9400% revenue growth making it one of the nation’s fastest growing private companies. Uwill now supports public and private institutions and students in all 50 states, and partners with leading colleges and universities including Dartmouth College, Florida Gulf Coast University and University of Michigan.
Utilizing its proprietary technology and counselor team, Uwill pioneered the first student and therapist matching platform. The solution offers an immediate appointment with a licensed counselor based on preferences, all modalities of teletherapy, a direct crisis connection, wellness events, real-time data, and support.
“We built Uwill to provide students with immediacy, choice, and a frictionless experience to receive the mental health support they need in a way that works best for them,” said Michael London, founder and CEO of Uwill. “We look forward to collaborating with our clients and EGP to continue to remove barriers to mental health support and help as many students as possible. EGP’s focus and expertise in education makes them an ideal partner to support Uwill’s continued success.”
London has spent his career leading highly successful edtech and social impact companies including Examity, Bloomberg Institute, EdAssist, and College Coach.
Raymond James served as Uwill’s financial adviser in relation to the deal.
About Uwill Uwill is the leading mental health and wellness solution for colleges and students. Utilizing its proprietary technology and counselor team, Uwill pioneered the first student and therapist matching platform. The solution offers an immediate appointment with a licensed counselor based on student preferences, all modalities of teletherapy, a direct crisis connection, wellness events, realtime data, and support. The most cost-effective way to complement a college’s mental health offering, Uwill partners with more than 150 institutions, including Boston College, University of California Santa Barbara, American Public University System, and the University of Maryland, College Park.
About Education Growth Partners Education Growth Partners (“EGP”) is an investment firm dedicated to providing growth capital to proven education, workplace, and human development companies offering compelling solutions to unmet needs. EGP’s extensive operating experience and investment expertise ensures that companies receive an infusion of highly strategic capital and insight that can accelerate reach, scale, and impact to create long-term value.
