Capital to accelerate the Recognition Economy and transform physical infrastructure with AI

Metropolis powers over $5 billion in annual transactions, serves 50 million customers and has nearly 20 million Members across its growing network

Series D financing underscores global investor conviction as Metropolis scales its AI platform into retail, hospitality and fueling, transforming how people interact with the real world

LOS ANGELES, Nov. 6, 2025 — Metropolis Technologies, Inc. (“Metropolis”), the leader in applied AI for the real world, today announced the closing of a $1.6 billion capitalization, including a JP Morgan Chase Bank, N.A. arranged $1.1 billion Term Loan B and a $500 million Series D funding led by a fund managed by LionTree.

The Series D values Metropolis at approximately $5B and saw participation from BDT & MSD Partners’ affiliated credit funds, DFJ, Eldridge Industries, Slow Ventures, SoftBank Vision Fund 2, Tekne Capital, and Vista. The financing positions the company with the institutional capital to support continued expansion into both new verticals and new markets, advancing the transformative capabilities of its real-world AI applications.

Following three major acquisitions — including the 2024 take-private of SP+ and the 2025 acquisition of Oosto, a pioneer in AI-powered biometrics — Metropolis has built an unparalleled foundation for growth. Metropolis processes more than $5 billion in annual transaction volume at 4,200-plus locations and is growing, with over one million new Members joining per month. These strategic moves have expanded the company’s capabilities in and out of the vehicle, across fueling, retail, mobility, hospitality, and office.

“With this new capital, we’re continuing to scale our platform and forge the foundation of the Recognition Economy, building a new paradigm for how AI is deployed in the real world,” said Alex Israel, CEO and co-founder of Metropolis. “As one of the fastest-growing technology companies in the United States, Metropolis is transforming how people move and transact in the physical world. We’re eliminating friction and repetition and creating recognition at scale for nearly 20 million Members. As we deploy our technology into retail, hospitality and fueling, Metropolis will go beyond just processing transactions by embedding speed and simplicity into everyday experiences.”

Metropolis is leading the Recognition Economy, a new age of personalized intelligence where presence replaces devices and credentials as the foundation for a more intuitive, connected and human world. It’s founded on a new era of intelligent infrastructure, where the physical world recognizes presence and context, learning and adapting in real time. It replaces friction with recognition, turning everyday actions into seamless, personalized, automated experiences.

“Metropolis is demonstrating that AI can be thoughtfully commercialized at real-world scale,” said Ramin Arani, Head of Investments at LionTree. “From mobility to retail and hospitality, Alex and his team are developing innovative solutions as part of a generational opportunity to create an enduring, smarter environment for consumers. We’re excited by the Metropolis team’s success to date and look forward to supporting the next phase of their growth.”

“When we partnered with Metropolis in 2022, Alex and his team were leveraging AI to transform the parking industry into the foundation for a more modern, seamless built environment,” said Todd Boehly, Chairman of Eldridge Industries. “Over the last few years, their vision has achieved remarkable scale, expanding across multiple industries to now reach nearly 20 million members. Metropolis exhibits exponential potential as the Company utilizes AI to reshape how people and businesses interact with the physical world.”

Over the past 12 months, the company expanded beyond parking, leveraging its technology to new use cases in and out of the vehicle — anywhere that personalization is needed. Through partnerships with retailers, asset owners and real estate partners, Metropolis is working alongside the world’s most influential brands to build an intelligent infrastructure layer. Transformative partnerships in refueling and quick-serve restaurants are now paving a clear path to hotels, retail environments, stadiums and more, to build a world where infrastructure recognizes you, moves with you, predicts your needs, and most significantly, saves time.

ADVISORS
BDT & MSD Partners, LLC served as exclusive financial advisor and Fenwick & West LLP served as legal advisor to Metropolis. JPMorgan Chase Bank N.A. served as the sole and exclusive Administrative Agent, and JPMorgan, Goldman Sachs & Co. LLC, and PNC Capital Markets LLC served as joint lead arrangers and joint bookrunners for the Term Loan B. Latham & Watkins LLP served as legal advisor to LionTree. Sidley Austin LLP served as legal advisor to Eldridge Industries.

ABOUT METROPOLIS
Metropolis is an artificial intelligence company for the real world. Its Computer Vision platform eliminates friction from daily life, powers checkout-free payments and unlocks seamless, predictive and personalized experiences everywhere consumers transact.

Metropolis is pioneering the Recognition Economy, transforming physical spaces into responsive environments with an Intelligence Layer that understands presence, anticipates needs and personalizes moments. Leveraging AI, Metropolis’ platform understands, adapts and responds to Members in real time.

Adding more than 1 million Members each month, it is one of the fastest-growing technology companies in the United States and envisions a future where transacting in the real world is even easier than online. Following its take-private acquisition of SP+, Metropolis is now the largest parking network in the United States, with 4,200+ locations and operations in 40 countries worldwide. Its proprietary AI technology touches 50 million customers and processes over $5 billion in payments annually.

To learn more, please visit www.metropolis.io.

ABOUT LIONTREE
LionTree is a differentiated global investment and merchant banking firm focused on media, technology, telecom and the consumer sectors. Founded in 2012, LionTree works across offices in New York, San Francisco, London and Tel Aviv to serve clients and community through strategic M&A, capital raising, and investments across the globe that capture opportunity and provide best-in-class execution. The firm leverages its unique insight and relationships across its integrated Client Advocacy, Merchant Banking, Institutional Investor Membership (IIM) and LT Growth focus areas to connect clients with the tailored ideas, actionable opportunities and resources that drive results. Since its formation, the firm has advised on over $900 billion in transactions by bringing capital together with ideas, investing in and alongside its relationships to accelerate growth and innovation.

ABOUT ELDRIDGE INDUSTRIES
Eldridge Industries invests in businesses across the Infrastructure, Technology, Mobility, Culture, and Luxury & Lifestyle landscapes. The firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge Industries has offices in Miami, Greenwich, Beverly Hills, New York, and London. To learn more about Eldridge Industries, please visit eldridgeind.com.

SOURCE Metropolis

LONDON, ON, Nov. 6, 2025 – Appetronix, a pioneering robotics company transforming foodservice through intelligent automation, today announced it has raised over $10 million in total funding, including an additional $6 million in its recent seed plus round. The round was led by Jim Grote, the Grote family, and AlleyCorp, marking AlleyCorp’s third investment in the company following strong performance in previous funding rounds.

The new capital will enable Appetronix to develop and deploy several innovative robotic kitchen concepts over the next few months, targeting high-traffic non-commercial foodservice environments including airports, hospitals, entertainment venues, universities, office towers, and other institutional settings where consistent quality and operational efficiency are paramount.

“This investment validates our vision of bringing the best-in-class food experiences to environments that have traditionally been underserved,” said Nipun Sharma, CEO of Appetronix. “With the support of the Grote family and our continued partnership with AlleyCorp, we’re positioned to revolutionize how people experience food in airports, healthcare facilities, and entertainment venues.”

Proven Track Record with Donatos Partnership
Appetronix is already in-market through its partnership with Donatos, a premium pizza chain with 460+ locations across 29 states. Founded by Jim Grote in 1963, Donatos is currently family-owned by Jim Grote and its Chief Purpose officer, Jane Abell, both of whom have built a reputation for quality and innovation in the pizza category.

Appetronix’s first automated kitchen with Donatos launched in June 2025 at John Glenn Columbus International Airport, demonstrating the viability of robotic food preparation at scale. The Donatos partnership has already exceeded initial expectations, clearly demonstrating the market’s strong demand for Appetronix’s technology and operating model. “At Donatos, we’ve always believed that quality and consistency are non-negotiable,” said Jim Grote, Founder of Donatos. “Appetronix’s technology allows us to deliver the authentic Donatos experience, while addressing the operational challenges facing our industry. We’re excited to support their expansion into new markets where this technology can make a real difference.”

“Following the rollout of Appetronix’s first automated kitchen, it’s been amazing to witness consumers’ excitement surrounding the new concept with Donatos,” said Abe Murray, General Partner at AlleyCorp. “This first unit has proven that robotic kitchens can deliver authentic, high-quality food while bringing efficiencies to operators, in ways only robotic solutions can.”

Addressing Critical Industry Needs
The foodservice industry faces ongoing challenges including labor shortages, consistency issues, and the need for extended operating hours in non-traditional venues. Appetronix’s robotic kitchen systems address these pain points by providing:

• Consistent Quality: Precise automation ensures every meal meets exact specifications
• 24/7 Operations: Reduced reliance on shift-based labor enables round-the-clock service
• Scalable Deployment: Modular systems adapt to various venue sizes and throughput requirements
• Brand Integrity: Authentic preparation methods preserve the quality standards of partner brands

Strategic Growth Trajectory
With this funding, Appetronix will accelerate its go-to-market efforts. The company’s plans to deploy robotic kitchen concepts across multiple cuisine types and formats represent a decisive move to capture market share in the foodservice sector. Each concept will be purpose-built for the unique demands of high-traffic institutional environments where quality, speed, and reliability are critical to success with a singular mission to serve the best tasting food in each category.

About Appetronix
Appetronix Inc. (formerly SJW Robotics) is a foodtech company specializing in the development and design of autonomous robotic solutions for commercial restaurant kitchens. With an expert team with extensive experience in restaurant kitchen design, worldwide expansion of restaurant chains, advanced automation, robotics, and data science, Appetronix is at the forefront of innovation in the foodservice industry. Our mission is to revolutionize the way restaurants operate by leveraging cutting-edge technology to deliver custom solutions that are scalable and tailored to meet the requirements of the next generation of quick-service restaurants. Our autonomous robotic solutions holistically automate all back of house functions including portioning, cooking, plating, and even cleaning with a singular goal of providing the best tasting food.

About AlleyCorp
AlleyCorp is a New York-based venture capital firm that incubates and invests in transformative companies across healthcare, AI, enterprise software and consumer tech, deep tech and robotics, economic infrastructure, and more. As one of the most active early-stage investors in New York, AlleyCorp focuses on investing at the incubation, pre–seed, seed and Series A stages. Founded by serial entrepreneur Kevin Ryan, AlleyCorp’s past incubations have included MongoDB (NASDAQ: MDB), Gilt Groupe, Business Insider, Zola, Radical AI, and Transcend Therapeutics.

About the Grote Family
Donatos Pizza, founded by Jim Grote in 1963 in Columbus, Ohio, is a family-owned business known for its famous thin-crust pizzas with abundant toppings spread Edge to Edge®. Headquartered in Columbus, Donatos and its franchise partners operate over 175 stores. Additionally, Donatos Pizza is proudly served in nearly 300 non-traditional locations nationwide, including select Red Robin restaurants. Committed to quality, community, and customer satisfaction, Donatos Pizza has received numerous awards and accolades, reflecting its dedication to excellence and innovation. For more information about Donatos Pizza and franchising opportunities, visit www.donatosfranchise.com.

SOURCE Appetronix Inc

Strategic Investment Led by SPLYCAP Adds Seasoned Growth Operators, Expands Development of Proprietary AI Features for Builders

VANCOUVER, Wash., Nov. 6, 2025 — Digs, the award-winning AI-powered collaboration platform for home builders and homeowners, today announced an additional financing round of $5 million, bringing total pre-Series A funding to nearly $20 million.

With nearly 10,000 homes on the platform already, builders are leveraging Digs to reduce errors, streamline processes and collaboration for pre-construction (collaboration, markups, and diagramming) and handoff and warranty (3D digital twin handoff and AI-powered warranty management), the company is positioned to be a foundational AI platform for construction and homeownership alike.

“From small custom builders to national production builders, realizing efficiencies, consolidating costs, and creating the best customer experience on the market is as essential as ever,” said Ryan Fink, CEO and Co-Founder at Digs. “But we don’t stop at the end of the build. Digs offers homeowners a first-of-its-kind 3D digital twin and AI-powered home ownership experience to become a living record of value and improvements. It’s a CarFax for the home – Homefax.”

Digs will use the capital to accelerate both AI development and commercial momentum. In the months since previous financing, the company has achieved several major milestones:

• Added new builders to the platform that now represent more than $12 billion in annual home builds.
• Launched DigsCare, an integrated solution using AI to dramatically streamline warranty processes and costs for builders while improving client experience.
• Hired construction software and SaaS sales veteran Stephen Molen as Chief Revenue Officer.
• Earned recognition in Fast Company’s “Innovation by Design Awards” and was named an Inc. Power Partner for 2025.

This strategic round is led by SPLY Capital, a Dallas-based private investment firm known for backing breakout category leaders, and features continued support from existing investors, including OVF, Fuse, and Flying Fish. SPLYCAP Managing Partner Tyler Williams will join the Digs Board of Directors, bringing a track record of late-stage operating experience, capital discipline, and global family office reach.

“As typically late-stage investors, we understand what a future category leader with robust fundamentals looks like,” said Tyler Williams, Managing Partner at SPLYCAP. “With Digs, we saw an opportunity to enter early due to their exceptional team, sales momentum, product-market fit, and massive opportunity in AI for construction.”

The round also features investment from Digs customer Lanthorne Homes, which has been an early Digs Innovation Partner in the development of the recently launched DigsCare.

“We are expanding nationally to redefine what modern home building looks and feels like,” said Landthorne Homes CEO Matt Green. “We see the AI-powered efficiency and client experience of Digs as fundamental from build through aftercare.”

About Digs

Digs is an award-winning AI-powered collaboration platform for the construction industry. Designed to digitize and streamline the pre-construction process as well as warranty support, Digs turns static blueprints into living, breathing, searchable plans that connect everyone—from builders to homeowners—in real-time. Headquartered near Portland, Oregon, Digs is trusted by builders in every U.S. state and in Canada. The company has raised $20M to date to build the future of homebuilding.

About SPLY Capital

SPLY Capital is a trusted strategic partner and late-stage private investment firm built around a global network of founders, operators, and family offices. The firm backs high-performing companies at pivotal inflection points, with a focus on unlocking long-term value across high-conviction “Future of __” verticals. Combining capital flexibility, deep operational expertise, and global LP access, SPLYCAP provides the resources and support needed to help visionary operators scale with precision and impact.

SOURCE Digs

Upway Targets 1 Million Refurbished E-Bikes by 2030

NEW YORK, Nov. 6, 2025 — Upway, the global leader in professionally refurbished e-bikes, today announced the closing of its $60 million Series C funding round, led by A.P. Moller with participation from U.S.-based Galvanize and Ora Global, and continued support from Sequoia Capital and other global investors. This new round brings total funding to over $125 million since its founding in 2021 and marks a new stage in Upway’s mission: giving e-bikes a second life and riders a first choice. With this funding, Upway is doubling down on U.S. growth, expanding operations, creating jobs, and building the backbone for circular mobility.

Building Industrial-Scale Infrastructure for Sustainable Mobility

Upway’s ambition is to create the world’s largest circular mobility network, globally and in the U.S., targeting one million refurbished e-bikes by 2030. Since launch, the company has refurbished and sold more than 100,000 e-bikes. Global sales doubled in 2025 versus 2024, and U.S. sales have accelerated at the same pace, on track to double again in 2026.

Operating across nine countries (France, Germany, Netherlands, Belgium, Switzerland, Austria, Italy, Spain, and the United States), Upway runs six industrial refurbishment centers called UpCenters in New York, Los Angeles, Paris, Berlin, Mechelen, and Düsseldorf. Six additional facilities, including Denver, will open within two years as part of a plan to reach twelve UpCenters across Europe and North America by 2027. This will support a network that will employ over 2,000 mechanics and operations specialists by 2030.

This new funding will accelerate Upway’s growth by expanding its industrial and digital capabilities. It will also support the rollout of new service including financing, insurance, maintenance, and subscription options, designed to make e-bike ownership more accessible and seamless. This growth aligns with U.S. rebate programs in states like California and Colorado and supports city-level investments in bike infrastructure in New York and Minneapolis, critical steps toward reducing transport emissions and advancing sustainable urban mobility.

Reinventing the E-Bike Experience for Everyone

Upway’s model is straightforward and tangible. The company buys used e-bikes, refurbishes them in-house to the highest industry standards, and sells them online with a one-year warranty and home delivery. This fully integrated approach, from sourcing to delivery, ensures quality, transparency, and peace of mind at every step.

Customers can choose from more than 200 brands and 2,500 models, making Upway the most extensive assortment in the market. With an average discount of 45% versus retail price, buyers save an average of $1,000 per bike, making light electric mobility accessible to more Americans. Each e-bike undergoes a rigorous 50-point inspection by expert mechanics before they are listed for sale.

Accelerating the Shift to Sustainable Cities and Lifestyles

Each refurbished e-bike replaces short car trips, cutting CO₂ emissions by up to 90% per mile compared to cars, while helping cities like New York and Los Angeles tackle congestion and air quality challenges. Upway’s operations prevent thousands of bikes from ending up in landfills every year, extending product lifecycles and supporting the transition to a true circular economy.

Beyond environmental benefits, e-bikes contribute to improved public health and quality of life: regular e-bike use can reduce the risk of heart attack by 40% for those riding 10 miles a day, and helps address issues such as obesity and air pollution, which contribute to over 9 million premature deaths globally each year.

Upway’s impact is also social and economic. By creating hundreds of skilled industrial jobs across Europe and North America, the company supports reindustrialization and provides new opportunities for mechanics, operations specialists, and tech talent.

“We founded Upway with a simple idea: light mobility can only be sustainable if it’s circular. This round allows us to scale that vision and make second-hand the first choice for millions of riders. We’re building the industrial and technological infrastructure that gives e-bikes a second life, with the same quality and safety standards as new ones. We’re excited and ready to continue establishing this entirely new category: one that combines purpose with performance and sustainability with scale.”

— Stéphane Ficaja and Toussaint Wattinne, Co-founders of Upway

“Upway’s ability to industrialize second-hand e-bike refurbishment and deliver the highest level of customer trust globally truly sets them apart. By applying rigorous standards and advanced processes to every bike, they have built a reputation for quality and reliability that is rare in the mobility sector. Customers know they can count on Upway for a seamless, worry-free experience, no matter where they are. This commitment to trust and operational excellence is what makes Upway a reference in circular mobility.”

— Chetan Mehta, Head of Growth Investing at A.P. Moller Holding

“Upway’s founders have established a culture of speed, operational excellence, and purpose. Their ability to move fast, scale across markets, and execute with discipline is a testament to the strength of their vision and the team behind it.”

— Saloni Multani, Founding Partner and Co-Head Innovation & Expansion Fund at Galvanize

“Upway is not just responding to the future of mobility: it’s actively designing it. By combining supply chain mastery, deep customer trust, and global reach, Upway is laying the foundation for a new kind of infrastructure: one where sustainability scales, and circularity becomes the norm. Their vision redefines how mobility is built, accessed, and experienced, turning second-hand into first choice, and local impact into global transformation.”

— Luciana Lixandru, Partner at Sequoia Capital

About Upway

Upway is the leading international platform for professionally refurbished e-bikes. Founded in 2021 and headquartered in Paris, Upway operates in nine markets including France, Germany, the Netherlands, Belgium, Switzerland, Austria, Italy, Spain and the United States. Upway’s mission is to make sustainable mobility accessible to all by giving e-bikes a second life and riders a first choice. This ambition combines industrial-grade refurbishment, proprietary technology and a deep commitment to the circular economy.

Upway has already refurbished and sold more than 100,000 e-bikes and offers a selection of over 200 brands, all covered by a one-year warranty and delivered through a seamless customer experience. By 2030, the company aims to refurbish and sell more than one million e-bikes annually while expanding its service ecosystem to include financing, insurance, maintenance and subscription solutions.

Press Contact

SOURCE Upway

Section Partners Announces Final Close of Two Funds

PALO ALTO, Calif., Nov. 6, 2025 — Section Partners, a multi-strategy investment firm that makes structured and direct investments in late-stage, venture-backed technology companies, announced today the closing of two additional funds, Section Capital V, LP and Section Ventures II, LP. Commitments to these funds and a parallel co-investment vehicle (collectively, the “Funds”) total $189 million, representing strong support from Section Partners’ longstanding limited partners and several new investors. Section Partners (the “Firm”) will use the capital to expand its business providing personal financing solutions to founders and other stockholders and growth capital to venture-backed companies.

Section Capital V, LP and a parallel co-investment fund (collectively, “Fund V”) primarily make investments in structured transactions with individual stockholders of late-stage, venture-backed companies. Fund V also makes direct equity investments in venture-backed companies, through both primary and secondary transactions, alongside a dedicated equity co-investment fund, Section Ventures II, LP (“SV II”). The Firm serves as a trusted partner to late-stage, venture-backed companies by providing personal financing solutions to stockholders, purchasing secondary shares, and participating in pre-IPO, primary financings.

Since inception in 2014, Section Partners has invested in or completed transactions with stockholders of over 80 companies. 37 Section Partners’ portfolio companies have completed liquidity events, including Airbnb, CrowdStrike, DocuSign, Figure Technologies, GitHub, Heartflow, Klarna, MongoDB, OneMedical, Palantir, Pinterest, Uber, and Upwork.¹

Section Partners is led by Dave Crowder and Solomon Lee. Dave has over 30 years of Silicon Valley experience in venture capital and technology investment banking, including as a co-founding partner of Thomas Weisel Venture Partners and Thomas Weisel Partners and as a senior tech banker at Montgomery Securities. Solomon Lee joined Section Partners in 2024 after spending nearly a decade in the Technology Investment Banking group of Morgan Stanley in Menlo Park, CA, leading M&A advisory and equity and debt financings for top enterprise software companies. Three additional investment professionals joined the Section Partners team in the last year, further bolstering the Firm’s sourcing and deal execution capabilities.

“The closing of Fund V and SV II mark another milestone for our firm and investors,” commented Dave Crowder, Managing Partner and Founder of Section Partners. “We remain focused on pursuing investments in compelling companies that exhibit exceptional revenue scale, topline growth, and multiple paths to liquidity.” Solomon Lee added, “This new capital positions Section Partners to continue to build our franchise in providing creative capital solutions to founders, executives, and employees and the companies they are building.”

About Section Partners

Section Partners is a multi-strategy investment firm that delivers attractive risk-adjusted returns through structured and direct investments in late-stage, venture-backed technology companies. Section Partners’ flagship fund is a private credit strategy that provides investors with downside protection, contractual base returns, equity upside, and tax-efficiency through a proprietary structure. Founded in 2014 and based in Palo Alto, CA, Section Partners manages funds with over $575 million in committed capital. For more information, visit www.sectionpartners.com.

Media Contact
Alli Murdoff, Partner
[email protected]

¹ The companies identified do not represent all the portfolio companies of funds managed by Section Partners. The reader should not assume that the investments identified were or will be profitable.

SOURCE Section Partners

SAN FRANCISCO, Nov. 6, 2025 — Generate Capital (“Generate”), a leading sustainable infrastructure investment platform, today announced it has raised in excess of $1 billion over the last 12 months across its credit strategies, from an increasingly deep and diverse base of institutional partners. The capital supports high quality, essential infrastructure amid a favorable supply-demand outlook for the North American energy market and underscores Generate’s ability to deliver resilient performance through volatile market conditions.

As part of its mission to open new sources of capital for the clean energy transition, Generate has deepened partnerships with insurance companies, pension plans and existing shareholders seeking scalable ways to invest in sustainable infrastructure. These relationships have accelerated momentum across the firm’s investment strategies, particularly in middle-market infrastructure credit, where Generate’s differentiated origination and structuring capabilities are helping capital-intensive businesses bridge the financing gap.

“Credit has become one of the most powerful asset classes for scaling critical infrastructure,” said David Crane, Chief Executive Officer of Generate Capital. “After a period of market pause, we’re seeing strong tailwinds and a renewed need for creative, scalable capital. Generate is unlocking the next phase of sustainable growth by pairing disciplined underwriting with deep operating expertise.”

Generate’s credit platform continues to experience strong deal momentum, with two new financings closed in the past two months and a robust pipeline of opportunities across sustainable infrastructure. Recent investments underscore Generate’s focus on high-impact sectors, including green steel,data center power, and thermal storage. These transactions highlight Generate’s ability to structure bespoke, risk-mitigated financing solutions that support long-term growth while delivering consistent returns for investors.

Beyond credit, Generate continues to expand its broader investment platform, now with more than $9 billion in assets across credit and equity strategies. Recent milestones include a $85 million community solar fund with KeyState, expanding access to affordable clean energy, and a $45 million financing for a fleet of anaerobic digesters within Generate Upcycle, its platform for converting organic waste into renewable natural gas.

“Generate’s mission and model have never been more relevant,” said Bill Sonneborn, President and Head of Credit, Generate Capital. “We are honored by the commitment our partners have shown in advancing the financing solutions needed to build the critical infrastructure that will strengthen our nation’s future.”

About Generate Capital

Generate Capital is a leading sustainable infrastructure investor, owner, and operator with an 11-year track record of financing and managing real assets that accelerate the energy transition. The firm manages equity and credit strategies backed by a team of experienced operators and investors with deep technical, financial, and operational expertise. Since 2014, Generate has invested in and operated more than 2,000 assets across six key sectors: power, mobility, waste, green digital, water, agriculture, and industrial decarbonization. The company partners with more than 50 leading technology providers and developers to build, finance, own, and operate sustainable infrastructure for the long term.

For more information, visit www.generatecapital.com.

SOURCE Generate Capital

The investment, led by Goldman Sachs Alternatives and A91 Partners,  will strengthen MoEngage’s leadership across North America and EMEA, amid growing global demand for next-generation AI-powered marketing technology.

LONDON, Nov. 6, 2025 — AI-led Customer Engagement Platform, MoEngage, gets $100 million in a new funding round led by Goldman Sachs Alternatives and A91 Partners, underscoring the growing global demand for next-generation marketing technology. The fresh capital will accelerate MoEngage’s product innovation, fuel its global expansion, and strengthen its leadership across North America, Europe, the Middle East, and Africa (EMEA), amid growing global demand for next-generation AI-powered marketing technology.

Helping consumer brands automate and personalize digital experiences across web, mobile, social, email, and messaging channels, the company’s total funding has now crossed $250 million with this round, positioning it among the leading players in the AI-powered customer engagement space.

The new funds will be used to scale its flagship Merlin AI suite, a collection of intelligent agents purpose-built for marketing and product teams to make data-driven decisions, automate campaign management, and increase customer conversions.

“Our global momentum, on top of our category leadership in Asia, validates that brands are moving beyond legacy marketing clouds,” said Raviteja Dodda, CEO and Co-founder of MoEngage. “More than 300 enterprises worldwide have turned to MoEngage for its AI-led agility and ease of use. This investment will fuel our next phase of growth across North America, EMEA.”

The company counts over 1,350 global brands among its customers, including SoundCloud, McAfee, Domino’s, Deutsche Telekom, and Travelodge, reaching over two billion consumers each month.

“MoEngage has been an incredible partner in our growth journey,” said Hope Barrett, Sr. Director of Martech at SoundCloud. “Their platform enabled us to seamlessly migrate more than 120 million users in just 12 weeks and leverage AI-driven insights to accelerate product launches that have strengthened retention across our paid user base.”

Rajat Sood, a Managing Director at Goldman Sachs Alternatives, said, “Our investment in MoEngage reflects Goldman Sachs’ commitment to backing category-leading technology platforms that are leveraging AI for serving enterprises globally. By leveraging our global network, expertise, and capital, we look forward to helping the company accelerate growth, expand into new markets, and deliver lasting value to its customers.”

Kaushik Anand, Partner at A91 Partners, added, “We have gotten to know the MoEngage team over the last six years and have been impressed by their ability to constantly innovate and expand their product offerings. We are excited to back MoEngage as they look to scale their global customer footprint by empowering marketing and product teams with cutting-edge technology to build and retain customer relationships.”

Strong Push across the U.K. and Europe

The UK and European markets have become a major growth frontier for MoEngage. As economies accelerate their digital transformation agendas, the demand for AI-driven customer data and engagement platforms is surging across the regions.

The company currently has about 800 employees across its 15 global offices. To deepen its market presence, MoEngage plans to significantly expand its workforce, particularly in North America and Europe, by scaling its customer success, support, sales, and marketing teams. Furthermore, the company intends to build additional AI capabilities and hire more talent to support these efforts.

MoEngage has been actively expanding its presence in key European markets, working with leading retail, e-commerce, financial services, and telecom companies. We help these businesses unify and make structured customer data accessible in real-time and deliver personalized, omnichannel marketing experiences. Our aim is to help enterprises in the region leverage AI to enhance customer retention and loyalty in the UK and Europe’s increasingly competitive digital landscape.

Avendus acted as the exclusive financial advisor to the company and shareholders.

About MoEngage

Bengaluru and San Francisco, MoEngage is an insights-led customer engagement platform, trusted by over 1,350 global consumer brands including SoundCloud, McAfee, Flipkart, Kayak, Domino’s, Deutsche Telekom, Travelodge, and more. MoEngage empowers marketers and product owners with insights into customer behavior and the ability to act on those insights to engage customers across the web, mobile, email, social, and messaging channels. Its Merlin AI suite, a team of AI agents, enables marketers to launch campaigns faster and scale conversions with AI Decisioning. Consumer brands across 75 countries use MoEngage to power digital experiences for over 2 billion people every month.

MoEngage has been recognized as a Customers’ Choice in the Gartner Peer Insights™ Voice of the Customer for Multichannel Marketing Hubs, May 2025, and named a Strong Performer in The Forrester Wave™: Cross-Channel Marketing Hubs, Q4 2024.

To learn more, visit www.moengage.com

For more information, please contact:
Pooja Poddar Jain, Lead – Communications
Email: [email protected] 

Logo:  https://mma.prnewswire.com/media/2815704/MoEngage_Logo.jpg

TUALATIN, Ore. and AUSTIN, Texas, Nov. 5, 2025 — NetVendor, a leading provider of vendor compliance management software for the multi-family and commercial real estate industries, today announced a majority investment from Five Arrows, the alternative assets arm of Rothschild & Co, to drive the company’s next phase of growth. Greenridge Growth Partners will retain a minority stake. NetVendor, a leading provider of vendor compliance management software for the multi-family and commercial real estate industries, today announced a majority investment from Five Arrows, the alternative assets arm of Rothschild & Co, to drive the company’s next phase of growth. Greenridge Growth Partners will retain a minority stake.

Founded in 2009, NetVendor partners with property management companies (PMCs) to simplify vendor credentialing and compliance. The company’s platform automates the collection, verification, and management of critical vendor documentation – including insurance certificates, licenses, tax forms, and background checks – helping property managers reduce risk, improve efficiency, and build trusted vendor relationships.

Five Arrows, through its lower middle-market growth strategy, aims to support NetVendor with its continued product innovation, including integrating AI to deliver greater value to property managers and their vendor networks, as well as expansion into new markets and geographies. This follows a number of other North American software investments made by Five Arrows over the last 18 months, including KEV Group, Springbrook, Rimes, and Everway.

Dave Cooper, CEO of NetVendor, said:
“Partnering with Five Arrows marks an exciting new chapter for NetVendor. Their deep expertise in scaling software companies will help us accelerate product innovation and expand our reach, while staying focused on our mission: helping property managers simplify compliance, reduce risk, and build lasting vendor relationships.”

Steve Marks, Managing Director at Five Arrows, commented:
“NetVendor has built a mission-critical platform that addresses a core challenge in the property management industry. We believe the company is exceptionally well-positioned to continue its strong growth through innovation, expansion, and strategic acquisitions. We are thrilled to partner with Dave and the team to support the next phase of this journey.”

Ben Moss, Managing Partner of Greenridge, noted:
“It has been a privilege to partner with Dave and the entire NetVendor team over the past four years. Together, we built a market-leading platform by expanding the leadership team, strengthening go-to-market capabilities, and accelerating product innovation. We are incredibly proud of this team’s  accomplishments and look forward to supporting them alongside Five Arrows in this next chapter.”

Transaction Advisors
Raymond James served as exclusive financial advisor to NetVendor. Harris Williams advised Five Arrows. Queen Saenz + Schutz served as legal counsel to NetVendor and Gibson, Dunn & Crutcher served as legal counsel to Five Arrows. Manulife arranged the credit facility.

About NetVendor: 

NetVendor is a leading provider of vendor compliance management software for property management companies (PMCs) across the multi-family and commercial real estate industries. Its platform automates the vendor onboarding and compliance process, helping PMCs collect, track, and manage critical vendor credentials to mitigate risk and streamline operations. By ensuring vendors meet all compliance requirements, NetVendor enables property managers to protect their assets, reduce liability, and improve efficiency. Visit www.netvendor.com to learn more. 

About Five Arrows

Five Arrows is the alternative assets arm of Rothschild & Co and has over €30 billion in assets under management¹, with offices in Paris, London, New York, Los Angeles, San Francisco, and Luxembourg.

With over €11 billion of assets under management¹, the corporate private equity business of Five Arrows is focused on investing in companies with strong management teams; business models with high visibility of organic unit volume growth and strong unit economics; and multiple operational levers that can be used to unlock latent value. Sectors are limited to data and software, technology–enabled business services, and healthcare.

For more information, please visit https://www.rothschildandco.com/en/five-arrows/corporate-private-equity/ 

Five Arrows Managers (USA) LLC is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about Five Arrows Managers (USA) LLC, including our investment strategies, fees and objectives is available upon request.

¹ As of September 2025

SOURCE NetVendor LLC

RICHMOND, Va., Nov. 5, 2025 — The Alliance for Building Better Medicine (ABBM) and the Virginia Innovation Partnership Corporation (VIPC) celebrated Governor Glenn Youngkin’s announcement of $120 million in private industry investment from AstraZeneca, Eli Lilly, and Merck to establish the Virginia Center for Advanced Pharmaceutical Manufacturing (APM) in the Richmond-Petersburg-Charlottesville region. This neutral, industry-led Center will expand Virginia’s workforce and training pipeline in collaboration with university and community college partners to unleash the next generation of talent and innovation. This industry workforce investment follows $12.5 billion of recently announced capex investment in Virginia by these global Life Science industry leaders which will create thousands of jobs in Virginia in the coming years.

An official Memorandum of Understanding (MOU) signed by VIPC Chief Executive Officer Joe Benevento and leaders from Lilly, AstraZeneca, Merck was executed by Governor Youngkin on October 31 in Richmond. ABBM Board Chair Robby Demeria and Regional Innovation Officer Joy Polefrone attended this momentous occasion along with the President of Virginia Commonwealth University, Michael Rao, and senior leadership representatives from University of Virginia; Virginia Tech; Virginia Commonwealth University; Old Dominion University; James Madison University; and Hampton University, as well as the Virginia Community College System, including Brightpoint Community College, Reynolds Community College, Piedmont Virginia Community College, and Blue Ridge Community College.

The Central Virginia region spanning Richmond-Petersburg-Charlottesville is a designated U.S. EDA Tech Hub for Advanced Pharmaceutical Manufacturing, led by the Alliance for Building Better Medicine, and this milestone marks another leap forward in Virginia’s rise as an emerging Advanced Pharmaceutical Manufacturing national leader. Since 2020, the Alliance for Building Better Medicine has helped bring together business, government, academia, and nonprofit partners to strengthen America’s pharmaceutical supply chain through innovation and workforce development. Today, the Commonwealth is emerging as the only U.S. region with a fully connected ecosystem, from research and innovation to production at scale, ensuring essential and innovative medicines are securely made domestically in America. 

“This moment underscores how focus and coordinated acceleration create measurable impact,” said Joy Polefrone, Ph.D., Regional Innovation Officer for the Alliance for Building Better Medicine. “Virginia’s APM ecosystem has evolved from vision to execution – an integrated community of innovators, educators, and manufacturers working with shared purpose. Together, we’re accelerating progress, building a future-proof workforce, and creating career pathways that lead to jobs which make a difference for our families, our communities, and the nation.”

VIPC serves as Virginia’s designated statewide economic development authority for growing innovation ecosystems across the Commonwealth. VIPC fuels growth in key strategic industries such as Life Sciences by supporting research, commercialization, entrepreneurship, talent, infrastructure, access to capital, and public-private partnerships. VIPC has catalyzed new statewide initiatives supporting Virginia’s Life Sciences innovation ecosystem including Virginia’s Research Diamond for university research and science recruitment, Virginia’s Lab-to-Launch for technology commercialization, the Virginia Accelerator Network for entrepreneur and startup support, and Virginia Invest for access to investor capital.

“Workforce talent is an essential ingredient in cultivating a thriving innovation ecosystem. VIPC is thrilled to collaborate with industry leaders like AstraZeneca, Lilly, Merck, ecosystem partners like the Alliance for Building Better Medicine, and Virginia’s world-class university and community college institutions to grow talent, innovation, and opportunity,” said Joe Benevento, President and CEO of VIPC. “Virginia is leading the way in Life Sciences and Advanced Pharmaceutical Manufacturing, and we are accelerating growth together through the power of collaboration and innovation.”

The Alliance for Building Better Medicine has helped attract nearly $1.5 billion in regional investment and positioned Virginia as a global leader in advanced medicine manufacturing. ABBM’s collaborative efforts have previously led to successful Virginia recognition not only as a U.S. Tech Hub for APM but also as a recipient of an NSF Engines Development Award and the U.S. Economic Development Administration’s Good Jobs Challenge Award. The newly announced Virginia Center for Advanced Pharmaceutical Manufacturing will build on these accomplishments and deliver industry-aligned workforce training, credentials, and certifications via hands-on Good Manufacturing Practice (GMP) simulated training, classroom labs, and apprenticeships and internships.

“This moment reflects the power of partnership at its best: public and private sectors coming together to build better medicine, create meaningful careers, and strengthen the supply chain infrastructure that serves us all,” said Robby Demeria, founding board chair of the Alliance for Building Better Medicine and Chief Corporate Affairs Officer at Phlow Corp. “This transformative investment embodies the mission that has guided the Alliance since its formation and represents the type of momentum we set out to create as a region just five years ago. Together, we are building better medicine.”

SOURCE Alliance for Building Better Medicine