With triple-digit year-over-year growth and millions of consults delivered, MDI expands its doctor-only platform and leadership team to define the future of U.S. telehealth

NEW YORK, Oct. 14, 2025 — MD Integrations (“MDI”), the only unified telehealth platform built on a nationwide, doctor-only network, today announced it has secured a $77 million investment to accelerate growth and expansion, from Updata Partners and Denali Growth Partners, alongside the appointment of Ramin Zacharia as President & COO.

Founded in 2020 by Dr. Marc Serota, a quadruple board-certified physician, MDI has delivered millions of patient consults across all 50 states for hundreds of digital health brands, helping them launch and expand into high-demand specialties such as weight management, longevity, dermatology, women’s health, allergy/immunology, men’s health, urgent care, and diagnostics.

“After helping build technology and provider networks at eight telehealth companies, I saw the need for a single solution that connects brands and their customers with high-quality care delivered only by doctors, integrated with a pharmacy network and powered by technology.” said Dr. Marc Serota, Founder & CEO. “With MDI, we’ve created a scalable, trusted platform that unites physicians, pharmacies, and diagnostics in one system. This investment enables us to accelerate innovation and set the standard for physician-led virtual care.”

MDI gives high-growth telehealth brands the speed, scalability, and workflows they need to grow, powered by a doctor-only network and an enterprise-grade, integrated ecosystem.

Key differentiators include:

• Doctor-Only Specialty Network: Every consultation is led by a board-certified MD or DO specialist for trust, continuity, and credibility.
• Streamlined Care Delivery Model: Designed to provide complete and comprehensive care, optimize speed to service, and scale throughput.
• Built-In Compliance: State-by-state guardrails embedded in workflows to stay audit-ready and protect value.
• Integrated Ecosystem: API-first platform, with purpose-built Shopify and WooCommerce integrations, plus pharmacy, fulfillment, EHR, and payments, all unified end-to-end.
• Flexible by Design: Turnkey, no-code platform or fully customizable API integrations that allow partners to bring their own tools, technology stack, and pharmacy, without compromising compliance or scale.
• Growth-Optimized Infrastructure: Informed by an expansive dataset, MDI optimizes journeys from initial onboarding to ongoing care, improving efficiency and outcomes.

With this foundation, virtual care brands can partner with MDI to launch in weeks, expand into new specialties with predesigned workflows without costly rebuilds, and scale with confidence. Physicians choose MDI because the platform is built for how they practice, driving better patient outcomes, continuity of care and long-term customer relationships for partner brands.

Continued Scale and Market Leadership in MDI’s Next Phase
“This investment accelerates MDI’s trajectory as the leading telehealth infrastructure behind healthcare’s fastest-growing and best-known brands,” said Ramin Zacharia, newly appointed President & COO of MDI. “My focus is on scaling and replicating that model with our partner-centric focus, high-quality care through our expanding physician network, and forging deeper relationships and integrations across the ecosystem.”

As U.S. telehealth enters its next phase, the stakes are rising: regulators are demanding stronger compliance, patients expect faster access, and healthcare brands are under pressure to expand beyond single-specialty offerings. Many platforms attempt to solve these challenges with shortcuts that plateau or rigid systems that become single points of failure. MDI provides a different path, end-to-end infrastructure that enables speed, quality, and compliance.

With this growth funding, MDI will continue expanding its partner and customer base with high-quality care, deepen its nationwide physician network, expand its pharmacy and diagnostics integrations, and accelerate innovation on its highly configurable, API-first platform.

“We are excited to partner with MDI, as Marc and the team have built a highly differentiated, scaled platform in the exciting and growing telehealth ecosystem,” said Braden Snyder, General Partner at Updata Partners. “MDI’s unique proposition of unifying brands with a physician-first backbone for digital health positions it to set the standard of care for how brands launch, expand, and earn lasting patient trust.”

“MDI is a high-growth leader led by a domain expert that serves many leading and notable brands that we are excited to support and grow with in this next phase,” said Jesse Lane, Founder and Managing Director at Denali Growth Partners. “Our investment will add more momentum to MDI’s mission-driven approach and innovation in the telemedicine ecosystem. We are thrilled to be a part of the journey.”

About MD Integrations
Founded in 2020 by Dr. Marc Serota, MDI is the physician-first. end-to-end telehealth platform enabling digital health brands to scale faster, operate leaner, and deliver compliant care without building clinical operations in-house. With millions of patient consults delivered across multiple specialties and all 50 states, MDI has established itself as the category-defining leader in virtual care infrastructure. Learn more at www.mdintegrations.com.

About Updata Partners
Updata Partners is a leading growth equity firm based in Washington, D.C., focused on partnering with founders and management teams of high-growth B2B software and software-driven businesses. With over $1.5 billion in committed capital, Updata combines capital and operating experience to help companies accelerate growth and success. More information is available at www.updata.com.

About Denali Growth Partners
Founded in 2021, Denali Growth Partners (“DGP”) is a Boston-based growth equity firm with more than $800 million in Regulatory Assets Under Management (“RAUM”) as of October 1, 2025. DGP partners with rapidly growing and capital-efficient businesses. The firm typically invests between $10 million and $100 million per investment. Additional information is available at www.denaligrowth.com.

Media Contact for MD Integrations
Maria Simeone
[email protected]

SOURCE MD Integrations

Pinterest, Melio, and MoneyGram are among the customers using Basis Theory’s infrastructure to control their data and unlock agentic payments.

SAN FRANCISCO, Oct. 14, 2025 — Basis Theory, the leading independent payments infrastructure company, today announced a $33 million Series B round led by Costanoa, with participation from Stage 2 Capital, Moneta VC, and continued support from Bessemer Venture Partners, Kindred Ventures, Box Group, and Offline Ventures. The funding validates Basis Theory’s strong product-market fit and will accelerate its work with agentic commerce while expanding its enterprise-grade payment vault for merchants worldwide.

With merchants seeking better ways to manage payment data across multiple payment service providers, product leaders view payments as a strategic growth lever instead of a cost center. However, building these capabilities requires navigating significant compliance and technical complexities. With Basis Theory, customers can tokenize and manage sensitive payment data—maintaining complete control over how it’s accessed within their own systems or shared with external partners.

“The payments ecosystem is changing rapidly, and merchants no longer want to be locked into rigid platforms,” said Colin Luce, Co-Founder and CEO of Basis Theory. “We’re giving control back by making payments data as accessible and programmable as any other data type so it can fuel growth, intelligence, and automation across the entire business.”

At the core of Basis Theory’s platform is a cloud-native, PCI-compliant vault that operates independently of any payment processor or orchestration layer. The vault serves as the foundation for agentic commerce, and the Agentic Commerce Consortium—a network of more than 20 companies collaborating to build the future of agent-led commerce. Led by Basis Theory, the consortium is defining the standards and infrastructure that allow AI agents to become trusted buyers, enabling merchants to participate safely in agentic commerce at scale.

“Basis Theory is at the forefront of a dramatic shift as AI reshapes e-commerce as we know it,” said Amy Cheetham, Partner at Costanoa. “By giving merchants secure, real-time control over payment data, Basis Theory enables AI agents to authorize transactions, personalize experiences, and drive autonomous purchasing. They aren’t just keeping up with the future of commerce, they’re building it.”

Basis Theory was founded in 2020 by fintech veterans Brian Billingsley, Colin Luce, and Ben Milne, whose experience spans industry leaders like Yodlee, Dwolla, and Klarna. It has more than 40 full-time employees and plans to expand its engineering, product, and go-to-market teams to unlock the next era of innovation in payments and AI-driven commerce.

To learn more about Basis Theory, visit: www.basistheory.com and www.basistheory.ai.

About Basis Theory
Basis Theory is the leading independent payment vault, built to help merchants and platforms secure, control, and utilize sensitive payment data across systems and partners. With PCI Level 1 compliance, SOC 2 certification, and a developer-first API, Basis Theory empowers customers to design their payment infrastructure however they choose with zero lock-in. Founded in 2020, the company is backed by Costanoa, Bessemer Venture Partners, Kindred Ventures, and others.

About Costanoa
Costanoa exists to elevate founders building companies of consequence. We lead investments from formation through Series A in Applied AI, AI Infrastructure, Cybersecurity, National Security, and Fintech. With $2.3B AUM, we’re boutique by design—making fewer investments to deliver deeper expertise and operational support when it matters most: the early, defining stages of growth. For more information, please visit www.costanoa.vc.

Media contact: [email protected]

SOURCE Basis Theory

$15bn AUM Investment Firm Vy Capital led the round, joins the Board of Directors

MIAMI, Oct. 14, 2025 — Today, OneImaging, the radiology platform that simplifies medical imaging for patients, providers, and employers, announces $38 million in funding. The round was led by Vy Capital, with participation from Aquiline, Sempervirens Venture Capital, XRC Ventures, Dylan Field, Balaji Srinivasan, Jon Oringer, more. OneImaging has grown 50x in less than three years and has multiple Fortune 100 customers. In the past 18 months alone, the company has partnered with employers and integrated with the largest commercial health plans to bring affordable imaging to two million people.

1 in every 2 Americans need imaging every year. It is the 2nd most-utilized service in all of healthcare, after prescription drugs, but radiology services remain expensive and inaccessible.

Physicians are routinely coerced by their hospitals’ administration to refer patients into their own hospital systems’ imaging departments, where the average MRI is priced at over $2,000 for patients, but costs 10-20% of that to deliver. These deceptively high costs can cause 37% of people to delay or skip care, resulting in significantly worse outcomes and increased downstream costs.

Meanwhile, employers are spending 50% more on their employees’ healthcare benefits than they did 10 years ago, not only facing rising bills, but also administrative headaches from prior authorization bottlenecks and surprise billing. While imaging is crucial for early diagnosis, lower long-term costs, and better outcomes, the various shortcomings of the current radiology industry have resulted in a heavily inefficient system.

OneImaging connects patients to a nationwide network of accredited imaging centers. It seamlessly manages scheduling, insurance approvals, pricing and delivery of results—enabling up to 80% cost savings while maintaining high-quality care and transparent pricing. OneImaging removes delays and complexity so patients can get the right scan at the right time and price.

This problem became personal for OneImaging founder Elan Adler, when his father waited six weeks for an MRI, only to learn that his cancer had spread by the time he was seen. “Patients are already feeling anxious and just want to know where to go—at lower costs, with quality equipment and radiologists, in-network, and with sooner appointments,” says Adler, who built OneImaging on a decade of experience across the radiology field, including roles at Siemens Healthineers and The Cleveland Clinic. “Employers are trying to manage their budgets and contain costs. We’re growing faster than ever by providing the ‘magic pill’ for making imaging more affordable for all parties.”

OneImaging saves employers and their employees up to 80% on imaging and ensures the process is easy, affordable and stress-free by offering:

• High-quality imaging network: Higher-value imaging through OneImaging’s national network of accredited partner imaging centers
• Streamlined operations: Automated end-to-end platform that removes providers’ administrative costs, lowering their operating expenses by 30%
• Price transparency: Upfront pricing that reduces up to 38% of leakage from patients who forgo care due to high, hidden costs
• Easy user experience: Smooth digital experience that decreases cancellation rates from ~25% to 1%
• Seamless reimbursement: Simple claims process, instant provider reimbursements, and simple co-payments, with financing options available, to shorten the RCM cycle from months, into real-time
• Lower costs/better outcomes downstream: 76% of Americans live with chronic conditions, that when detected early, result in lower costs and healthier, happier lives

“Until now, patients had little education or perceived choice in where they received imaging. What matters most isn’t getting a scan where your doctor happens to work, but getting it faster, knowing the upfront cost, and being able to trust the quality of the service. OneImaging is making the most powerful diagnostic tool in medicine accessible to everyone,” Adler adds.

About OneImaging
OneImaging  is the radiology platform that simplifies medical imaging for patients, providers, and employers. By connecting people to a nationwide network of accredited imaging centers, the company delivers up to 80% cost savings while ensuring high-quality care and transparent pricing. OneImaging has grown 50x in less than three years, partners with Fortune 100 employers, and integrates with the largest commercial health plans to bring affordable imaging to millions.

SOURCE OneImaging

Prezent AI raises $30 million to acquire Prezentium and redefine enterprise business communication through AI and services integration

SAN FRANCISCO, Oct. 14, 2025 — True Global Ventures (TGV) proudly announces its continued support and participation in Prezent AI’s latest $30 million funding round, accompanying the company’s strategic acquisition of Prezentium, the leading business presentation services firm in Life Sciences.

The round, led by Multiplier Capital and Nomura Strategic Ventures, with participation from True Global Ventures, Greycroft and existing investors, positions Prezent AI company at a $400 million valuation.

A New Category in Enterprise Communication

Prezent AI, founded by Rajat Mishra, is pioneering a new category at the intersection of AI, communication, and enterprise productivity.

Unlike traditional presentation tools or agencies, Prezent AI combines AI-driven automation with human creativity and services, offering Fortune 2000 enterprises a single, scalable platform to accelerate and elevate their business communication.

The acquisition of Prezentium, founded by Deepti Juturu, strengthens this vision. Together, the companies integrate AI technology and human expertise, providing enterprises with a complete “AI + services” solution that delivers outcomes faster, smarter, and more efficiently.

Transforming a $20 Billion Market

With this acquisition and funding, Prezent AI is accelerating its mission to disrupt the $20 billion global agency and consultancy market by creating the first AI + human-augmented business communication platform.

The platform enables organizations to:

• Transform complex data into business-ready presentations in minutes
• Create brand-aligned sales and Business Review decks at scale
• Integrate with enterprise workflows via APIs and presentation agents
• Build a “Company Presentation Brain” — where communication knowledge compounds over time

Investor Perspective

“The combined entity offers corporate clients far greater flexibility in how they approach business communication. They can now rely on a master presentation delivered overnight while achieving measurable productivity gains in how presentations are adapted and deployed across business lines and teams. This unique blend of AI acceleration and human expertise enables enterprises to communicate faster and at scale.” said Frank Desvignes, Founding Partner at True Global Ventures.

A Bold Vision for the Future

“Prezent AI is not just about creating slides,” said Rajat Mishra, CEO and Founder of Prezent AI. “Our north star is delivering great business communication outcomes — powered by AI acceleration and human expertise. With Prezentium joining our platform, we’re one step closer to building the complete AI-enabled communication lifecycle for enterprises.“

About Prezent AI

Prezent AI is an AI-powered business communication platform that helps enterprise teams create, optimize, and deliver high-impact presentations. Headquartered in Los Altos, California, the company serves global clients across life sciences, technology, and manufacturing, combining AI, software, and expert human services into one integrated system.

Learn more: www.prezent.ai

About True Global Ventures

True Global Ventures (TGV) is a global venture capital firm investing in serial entrepreneurs leading AI and Blockchain companies. With presence across San Francisco, New York, Paris, London, Stockholm, Dubai, Hong Kong and Singapore, TGV backs visionary founders building the next generation of transformative technology ventures.

Learn more: https://www.tgv4plus.com/

SOURCE True Global Ventures

PHOENIX, Oct. 14, 2025 — Trinity Capital Inc. (Nasdaq: TRIN) (the “Company”), a leading alternative asset manager, today announced the commitment of $130 million in growth capital to Candel Therapeutics, Inc. (Nasdaq: CADL) (“Candel”), a clinical-stage biopharmaceutical company focused on developing viral immunotherapies to help patients fight cancer.

Candel Therapeutics is developing a clinical pipeline of off-the-shelf cancer treatments that aim to empower a patient’s own immune system to fight cancer. The company’s leading therapies, CAN-2409 and CAN-3110, focus on treating solid tumors in a variety of cancers including prostate, pancreatic, lung, and brain cancer. Candel has been granted multiple FDA designations, including Regenerative Medicine Advanced Therapy Designation (RMAT) for the treatment of localized prostate cancer, Fast Track Designation for localized prostate cancer and non-small cell lung cancer, and dual Fast Track and Orphan Drug designations for both its pancreatic and brain cancer programs.

“As cancer incidence continues to rise, the need for truly transformative therapies has never been greater,” said Rob Lake, Senior Managing Director of Life Sciences at Trinity Capital. “We’re proud to partner with innovators like Candel, whose compelling clinical evidence proves their potential to change the treatment paradigm for patients facing critical conditions.”

Trinity’s investment will be used to support Candel’s clinical development of CAN-2409, as well as pre-commercial and launch readiness activities for CAN-2409 in prostate cancer, pending regulatory approval.

“Trinity Capital’s partnership marks a pivotal moment for Candel,” said Paul Peter Tak, MD, PhD, FMedSci, President and Chief Executive Officer of Candel Therapeutics. “This strategic financing strengthens our balance sheet and accelerates our ability to advance innovative viral immunotherapies for patients with early localized prostate cancer, non-small cell lung cancer, and glioblastoma. With Trinity’s flexible life science capital solutions, we are well positioned to drive growth, execute our commercialization strategy, and deliver long-term value for shareholders — reinforcing our commitment to leadership in oncology.”

About Trinity Capital Inc.
Trinity Capital Inc. (Nasdaq: TRIN) is an international alternative asset manager that seeks to deliver consistent returns for investors through access to private credit markets. Trinity Capital sources and structures investments in well-capitalized growth-oriented companies across five distinct lending verticals: Sponsor Finance, Equipment Finance, Tech Lending, Asset Based Lending, and Life Sciences. As a long-term, trusted partner for innovative companies seeking tailored debt solutions, Trinity Capital has deployed more than $4.7 billion across over 420 investments since inception in 2008 (As of June 30, 2025). Headquartered in Phoenix, Arizona, Trinity Capital’s dedicated team is strategically located across the United States and Europe. For more information on Trinity Capital, please visit trinitycapital.com and stay connected to the latest activity via LinkedIn and X (@trincapital).

About Candel Therapeutics
Candel is a clinical-stage biopharmaceutical company focused on developing off-the-shelf, multimodal viral immunotherapies that elicit an individualized, systemic anti-tumor immune response to help patients fight cancer. Candel has established two clinical-stage multimodal biological immunotherapy platforms based on novel, genetically modified adenovirus and herpes simplex virus (HSV) gene constructs, respectively. CAN-2409 is the lead product candidate from the adenovirus platform. The Company recently completed successful phase 2a clinical trials of CAN-2409 in non-small cell lung cancer (NSCLC) and pancreatic ductal adenocarcinoma (PDAC), and a pivotal, randomized, placebo-controlled, phase 3 clinical trial of CAN-2409 in localized prostate cancer, conducted under a Special Protocol Assessment (SPA) agreed with the FDA. CAN-2409 plus prodrug (valacyclovir) has been granted Fast Track Designation by the FDA for the treatment of PDAC, stage III/IV NSCLC in patients who are resistant to first line PD-(L)1 inhibitor therapy and who do not have activating molecular driver mutations or have progressed on directed molecular therapy and localized primary prostate cancer in combination with radiation therapy. The FDA also granted Regenerative Medicine Advanced Therapy (RMAT) Designation to CAN-2409 for the treatment of newly diagnosed localized prostate cancer in patients with intermediate-to-high-risk disease and Orphan Drug Designation to CAN-2409 for the treatment of PDAC. 

CAN-3110 is the lead product candidate from the HSV platform and is currently in an ongoing phase 1b clinical trial in recurrent high-grade glioma. Initial results were published in Nature and CAN-3110 received Fast Track Designation and Orphan Drug Designation from the FDA. Finally, Candel’s enLIGHTEN™ Discovery Platform is a systematic, iterative HSV-based discovery platform leveraging human biology and advanced analytics to create new viral immunotherapies for solid tumors. 

For more information about Candel, visit: www.candeltx.com

SOURCE Trinity Capital Inc.

“These new partners bring more than capital — they bring unique expertise, scale, and reach for our clinical-grade medical wearables and AI-driven algorithms,” says Steve Xu MD, CEO of Sibel Health. Maruho Co., Ltd. is a leading company in Asia for the development and commercialization of dermatological products. Their strategic investment adds to an existing commercial partnership with Sibel Health focused on the development of novel therapeutic digital health technologies for dermatology. “We are excited to partner with Sibel Health as we co-develop future digital health breakthroughs for skin conditions globally starting first with itch,” said Akihiko Ikoma MD PhD, Senior Medical Director, Maruho Co., Ltd.

Sibel Health’s core FDA-cleared clinical monitoring platform, ANNE^® One, already leverages Samsung mobile devices for waveform display and alarming. “Care is moving far beyond the four walls of the hospital — and we are excited to illustrate this with a growing number of hospital partners,” added Dr. Xu. “At Samsung Next, we see strong potential in Sibel’s best-in-class medical wearables paired with Samsung mobile devices. Together, they could create a differentiated product for healthcare providers and life science companies that’s both clinically validated and cost-effective,” notes Jonathan Machado, Managing Director at Samsung Next.

Sibel Health also announced two key board appointments to support its next phase of growth. Kimberly Querrey, the Chair and CEO of Gulf Shore Private Capital, LLC and a Trustee of Northwestern University serving on its Executive Committee and chairing the Nominations and Governance Committee, was elected Chairwoman having served on Sibel’s board of directors since its founding in 2018. “I look forward to leveraging my 30 years of experience in business operations, corporate governance, and board leadership to guide the CEO and Sibel Health on its exciting trajectory.” Sibel Health also welcomes a new independent board member and a personal investment from Tim Sullivan, a Co-Founder and currently Vice Chair of Madison Dearborn Partners who also serves as Chairman of the Board of Northwestern Memorial Healthcare Corporation. Both individuals bring deep expertise in innovation, healthcare, and commercial acceleration.

“From Maruho’s deep pharmaceutical and dermatology experience and Samsung Next’s global technology and innovation ecosystem, each of these new partners plays a critical role in advancing our vision of a future where continuous, real-world health data is seamlessly integrated into clinical trials and clinical care. With a deeply experienced board, we are well positioned to accelerate the transition from episodic reactive monitoring to continuous and predictive clinical intelligence with our products,” concludes Steve Xu MD.

About Sibel Health
Sibel Health is an award-winning digital health company with a mission to deliver Better Health Data for All^®. Based in Chicago with an international office in Seoul, the company’s FDA-cleared ANNE^® platform includes advanced wearable sensors, AI-enabled data analytics, and an integrated mobile software and cloud platform. The company’s Discovery platform is used by the world’s leading pharmaceutical companies for continuous data collection in the home setting for clinical trials. For more information, please visit www.sibelhealth.com and follow them on LinkedIn.

About Maruho
Maruho Co., Ltd. has its head office in Osaka and leads Japan in research and development, manufacturing and commercialization of dermatological products. Founded in 1915, Maruho has 1,620 employees (as of the end of September 2024), and net sales were approximately 86.99 billion yen in its fiscal year ended September 30, 2024. With the mission “More smiles, brighter life for you.”, Maruho aims to help realize a society where everyone can live with a smile. For more information, please visit www.maruho.co.jp/english/.

About Samsung Next
Samsung Next invests in bold and ambitious founders, focusing on transformative innovations in AI, intelligent machines, healthtech, consumer services, and frontier technology. Learn more at www.samsungnext.com.

SOURCE Sibel Health

Erie Insurance’s corporate venture capital arm expands its portfolio with two startups focused on embedded brokerage and AI-powered data solutions

ERIE, Pa., Oct. 14, 2025 — Erie Strategic Ventures, the venture capital arm of Erie Insurance (ERIE), today announced investments in two new portfolio companies:  Atomic and Feathery.

The Erie Strategic Ventures fund, launched in August 2022, focuses on investing in the personal and commercial insurance value chain, as well as adjacencies that offer potential to deliver value to ERIE, its agents and policyholders. ERIE collaborates with Cerity Partners Ventures, a corporate venture capital management firm, to help oversee and operate Erie Strategic Ventures. The two investments announced today support startups operating at the intersection of technology and financial services.

“We are excited to partner with Atomic and Feathery,” said Keith Kennedy, senior vice president for Next Level Innovation at Erie Insurance. “Erie Insurance is a relationship company, and we believe that these two relationships create numerous opportunities for mutual benefit.”

• Atomic offers a full-stack brokerage and wealth management solution purpose-built for financial institutions. Atomic’s position as a licensed RIA and broker-dealer allows financial institutions like credit unions and insurance carriers to leverage Atomic’s technology platform to offer embedded financial solutions to their clients.
• Feathery provides a flexible, AI-powered data intake platform for financial institutions. Feathery workflows allow intaking data and documents across multiple sources to be validated, formatted and connected to end systems. This unlocks insights and efficiency across traditionally manual processes such as submission intake for insurance underwriting, policy checking and proposal generation for brokers, client onboarding for RIAs and broker-dealers and more.

Erie Insurance is a Fortune 500 auto, home, business and life insurance company based in Erie, Pa. Founded in 1925, ERIE has a long-standing reputation for financial strength and customer service. ERIE is rated A (Excellent) by AM Best and serves more than seven million policyholders through a network of over 14,000 independent agents across 12 states and Washington, D.C. Beyond capital investment, Erie Strategic Ventures draws on Erie Insurance’s 100 years of industry expertise to help portfolio companies innovate and scale. As a trusted leader in insurance, ERIE serves as both a customer and strategic partner — fostering collaboration, accelerating development and advancing shared goals.

Learn more about Erie Strategic Ventures at www.erieinsurance.com/ventures.

About Erie Insurance
Erie Insurance Group, based in Erie, Pennsylvania, is the 11th largest homeowners insurer, 12th largest automobile insurer and 10th largest commercial lines insurer in the United States based on direct premiums written, according to AM Best Company. Founded in 1925, Erie Insurance is a Fortune 500 company and the 16th largest property/casualty insurer in the United States based on net premiums written. Rated A (Excellent) by AM Best, ERIE has more than 7 million policies in force and operates in 12 states and the District of Columbia. News releases and more information are available on ERIE’s website at www.erieinsurance.com

About Cerity Partners Ventures
Founded in 2009, Cerity Partners is a nationally recognized full-service wealth management firm serving high- and ultra-high-net-worth individuals and their families, businesses and their leadership teams, and nonprofit organizations. Through its merger with Touchdown Ventures in 2024, the firm formed Cerity Partners Ventures (CPV) to help corporations manage their venture capital programs. CPV works closely with each corporation to achieve the financial and strategic benefits from venture capital investments. Visit ceritypartners.com to learn more.

SOURCE Erie Indemnity Company

NEW YORK, Oct. 14, 2025 — Renew, the AI-powered platform helping multifamily and single-family apartment operators keep residents longer and reduce costly turnover, today announced a $12 million Series A financing led by Haymaker Ventures, with participation from Goldcrest Capital, Upfront Ventures, and numerous Renew customers. The funding will scale Renew’s retention platform and launch the industry’s first Resident Referral Network.

The U.S. rental market faces record pressure: operators lose nearly half of their residents every year, driving billions in vacancy loss and marketing costs, while renters struggle with rising rents, limited housing supply, and fragmented leasing processes. Renew addresses both sides of the equation by turning the renewal moment into a strategic advantage, helping operators protect portfolio performance, improving resident retention by 3%, and reducing vacancy loss by 4 days while giving residents a seamless reason to stay.

Renew’s connected ecosystem includes:

• Renewal Management System (RMS) – Automates renewals end-to-end, ensuring every offer is timely, compliant, and transparent. Site teams save hours of busywork while residents enjoy a clear, stress-free renewal experience.
• Renew Data Engine – Surfaces churn signals and renewal trends portfolio-wide, enabling predictive strategy instead of reactive reporting.
• Renew AI – Personalizes offers, optimizes timing, and answers operator questions in real time.
• Renew Marketplace – The industry’s first resident referral network, enabling in-portfolio transfers and trusted referrals across portfolios.
• Revenue Ecosystem – Monetizes the stay-or-go moment with embedded services and rewards that benefit both residents and operators.

“In 2024, NMHC Top 50 operators piloting Renew uncovered that many departing residents weren’t leaving renting—they were relocating outside their portfolio’s footprint,” said Rob Hayden, Co-Founder and CEO. “Instead of treating those move-outs as lost business, lead-sharing turned them into opportunities—delivering a better resident experience and creating an entirely new revenue stream.”

By linking renewal decisioning, retention, fraud prevention, ancillary products, and move-in/move-out workflows, Renew transforms turnover from a cost center into a revenue driver.

“In just a short period of time, we’ve seen the renewal window shrink dramatically,” said Mark Juleen, COO of J.C. Hart Company. “What used to take an average of about 45 days is now down to 10–15 days for residents to make a decision, and that’s been incredible.”

Founded in 2021 by Rob Hayden and Kevin Murphy, Renew was born out of a fundamental gap in multifamily: operators lost half their residents every year, yet no platform treated renewal as a strategic lever. The insight was simple but powerful—renters don’t churn from renting, they churn from relationships. Renew exists to close that gap and make the renewal moment central to how the industry grows.

About Renew:
Renew enables apartment owners and operators to unlock new revenue and reduce risk by transforming the resident renewal process. Its connected resident retention platform automates renewals, strengthens fraud protection, and helps residents stay loyal to a brand they trust—whether they renew, relocate, or refer. Founded in 2021 by real estate and technology veterans Rob Hayden and Kevin Murphy, Renew partners with leading owners and operators nationwide to turn retention into a revenue engine. Headquartered in New York City, the company is building the industry’s first Resident Retention Network. Learn more at www.heyrenew.com.

Media Contact:
Lauren Diaz, [email protected], tel: 518.275.2079

SOURCE Renew

The third edition of the Summit debuts the Future of Food Waste Forum, presented by Nicor Gas, spotlighting Chicagoland’s position as the nation’s #1 food manufacturing hub and a global leader in food innovation, talent, and investment.

CHICAGO, Oct. 14, 2025 — Today, Chicago Mayor Brandon Johnson launched the return of the Chicago Venture Summit Future of Food, focused on the city’s continued investment in high-growth industries.

The Chicago Venture Summit, initially founded by then-Pritzker Group Founder J.B. Pritzker in 2014 and orchestrated by World Business Chicago, has consistently been a magnet for tech and innovation leaders throughout the Midwest and across the country. Today’s summit, the third edition dedicated to the future of food, has garnered immense attention and is officially sold out. Over 600 startup CEOs, investors, Fortune 500 executives, and industry leaders are gathered at the iconic 167 N Green Street in the Fulton Market District, a convening that epitomizes the strength of the Chicago region’s dynamic and burgeoning food and agtech landscape.

“Chicago’s greatest strength has always been its people who are resilient, innovative, and determined to build a stronger future together,” said Mayor Johnson. “The sold-out Chicago Venture Summit is proof that Chicago’s spirit of collaboration and innovation continues to thrive, and we will keep investing in the ideas and industries that sustain opportunity for every community. Nowhere is that more evident than in Chicagoland’s food and beverage manufacturing industry — the largest in the nation, generating $11.8 billion annually and employing more than 72,000 people.”

This year’s sold-out Chicago Venture Summit Future of Food returns with a robust agenda spotlighting Chicago’s dominance as a hub for food manufacturing and innovation, while introducing the first-ever Future-of-Food Waste Forum. Together, these events will highlight transformation across food, agtech, and sustainability.

According to the World Business Chicago Research Center, Chicagoland is the nation’s number one food manufacturing hub. Food manufacturing is a key industry for the entire region, with nearly 40% of firms located outside of Cook County. The Chicago Business Bulletin’s “Innovation in Chicagoland’s Food & Ag Industry,” just released by the WBC Research Center, delves into the region’s role today and in the future in the region’s world-class food and ag sector, examining the current market size, trajectory, the importance of talent and capital, workforce availability, public and private investment trends, and more. (Link to report.) Each of the seven counties that make up the Chicago region has distinct assets that contribute to the region’s strengths — from farmlands to transportation networks, as well as financial and tech hubs.

“The Chicago Venture Summit has become a nationally recognized platform — the place to be for entrepreneurs, investors, and industry leaders who understand that Chicago is the global capital for food,” said Phil Clement, President & CEO, World Business Chicago. “From startups to multinationals, from R&D to logistics, the full food and agtech supply chain comes together here. That convening power reflects both the strength of our ecosystem and the momentum that makes Chicago the city with a true ‘right to win’ in this sector.”

“This summit showcases what makes Chicago unique — the scale of our food and beverage industry, the ingenuity of our entrepreneurs, and the steadfast support of our business community, said Charles Smith, Founder & CEO, CS Strategies, Inc., a division of MMA, and vice chair, World Business Chicago. “I want to thank the World Business Chicago board of directors and partners whose leadership, sponsorship, and participation make gatherings like this possible. Together, we are advancing a circular food economy that reduces waste, sparks innovation, and creates opportunity in communities that have historically been left out of growth. The Chicago Venture Summit positions Chicago as a global leader where innovation, sustainability, and industry thrive together.”

Featured speakers and keynotes include:

• Brandon Johnson, Mayor, City of Chicago
• Toni Preckwinkle, Cook County Board President
• Wendell Dallas, President & CEO, Nicor Gas
• “Silicon Valley of Sweet” — Opening Keynote with Ferrero R&D leaders
• “The Future of Ag and Nutrition” — Edelman & College of ACES at University of Illinois
• “The Future of The Grand Farm” — Microsoft & The Grand Farm
• “The Future of IoT and Food” — Verizon
• “The Future of Investing” — Cooley & S2G Investments
• “Cleveland Avenue: Today and Tomorrow” — Afternoon Keynote with Cleveland Avenue led by Founder & CEO Don Thompson
• More than a dozen startups featured via startup spotlights and the TechRise Pitch Competition, highlighting emerging founders driving the next wave of food and ag tech innovation.

“Over the years, I’ve seen the tremendous progress and impact of the Chicago Venture Summit for our local entrepreneurs and investors,” said Mark Tebbe, Chair of the Innovation and Venture Council at World Business Chicago. “With another sold-out summit, the Chicago Venture Summit continues to be one of the city’s best platforms to showcase our vibrant startup and venture ecosystem.”

Inaugural Future of Food Waste Forum by Nicor Gas

For the first time, Nicor Gas has partnered with the Chicago Venture Summit for the inaugural Future of Food Waste Forum, which will take place on the same day as the summit. Illinois stands at the threshold of a transformative opportunity to develop a circular food waste economy that could generate valuable products, create renewable energy, reduce business costs, attract investment, and foster job creation across multiple sectors, from logistics to clean energy.

The inaugural Future of Food Waste Forum, organized by Nicor Gas and World Business Chicago, will serve as a key platform for discussing strategies to capitalize on this potential. Partnering with Nicor Gas, which powers the region’s thriving food and agriculture sector, World Business Chicago is proud to support this year’s Chicago Venture Summit with the forum, aimed at advancing sustainability, innovation, and economic growth. Bringing together stakeholders from across the food waste value chain—including processing, transportation, energy, and technology—the event will focus on reducing waste, producing renewable energy and valuable byproducts such as fertilizers, and ultimately fostering job creation in Illinois.

“Nicor Gas delivers the energy that fuels our region’s robust food and agriculture sector. We’re proud to support this year’s Chicago Venture Summit with the Future of Food Waste Forum, helping to drive the conversation at the intersection of innovation, sustainability and economic opportunity in Illinois,” said Wendell Dallas, President and CEO of Nicor Gas and World Business Chicago board member. “We’re excited to bring the food waste value chain together – processing, trucking, energy, technology and more – to reimagine how we can reduce waste, produce valuable byproducts like fertilizers and renewable energy, while creating jobs.”

The Future of Food Waste Forum 2025 includes:

• Welcome Remarks: Wendell Dallas (Nicor Gas) and Toni Preckwinkle (Cook County Board President)
• Opening Fireside Chat: Nicor Gas and partners on “The Future of Energy & Food”
• Panel Discussion: “Powering the Clean Energy Transition with Food” featuring leaders from Green Era, Illinois Sustainable Technology Center, and Rheaply
• Closing Remarks: Meena Beyers, VP of Business & Community Development, Nicor Gas

Closing Reception by Executive Sponsor, Chicago Fire FC

World Business Chicago is proud to announce the Chicago Fire Football Club as the executive sponsor of the official closing reception.

“We’re incredibly proud to be part of this year’s Chicago Venture Summit, especially as sponsors of the closing ceremony,” said Dan Moriarty, Chief Marketing Officer at Chicago Fire FC. “This summit is a celebration of innovation, investment, and the future of Chicago – and that aligns perfectly with the vision of our Club and of our owner Joe Mansueto, who is making a transformative investment in the city through the development of our world-class, downtown stadium.”

Presenting Sponsors Powering the Summit & Chicago’s Food Innovation Economy

The Chicago Venture Summit Future of Food and the inaugural Future of Food Waste Forum are made possible through the generous support of sponsors and partners.

Presenting sponsors include: Cleveland Avenue, Cooley, Edelman, Ferrero, the College of Agricultural, Consumer and Environmental Sciences (ACES) of the University of Illinois Urbana-Champaign, Ingredion, Microsoft, Nicor, S2G Investments, Shapack Partners, Tilia Holdings, Verizon

Industry Leaders Share Perspectives on Innovation, Investment, & the Future of Food

“The sold-out Chicago Venture Summit Future of Food underscores the strength and momentum of Chicago’s innovation ecosystem,” said Joseph Q. McCoy, President of Cleveland Avenue, LLC. “We’re excited to join fellow leaders and entrepreneurs to shape the conversation on where the industry is headed, and we invite attendees to join us Tuesday afternoon for Cleveland Avenue Today and Tomorrow, where we’ll highlight how we’re fueling innovation.”

“Cooley is pleased to continue supporting the Chicago Venture Summit: Future of Food, a keystone event focused on innovation in food and agtech in the Midwest ecosystem,” said Winston Gu, a partner in Cooley Chicago’s Emerging Companies practice. “As long-time partners to founders and technology leaders, we’re committed to advancing the future of the industry alongside the entrepreneurs and investors driving progress.”

“For 73 years, Chicago has been the heart of Edelman’s story — a city that feeds creativity, collaboration, and innovation,” added Adelaide Feuer, Edelman US Food & Beverage Lead. “As proud partners of the World Business Chicago’s Venture Summit: Future of Food 2025, we’re excited to champion the entrepreneurs and brands reimagining how food is grown, made, and shared, from right here in Chicago.”

“The world-class talent and creative energy found in Chicago make it the perfect place for our R&D and innovation work,” stated Laurent Cremona, Head of Ferrero’s North America Innovation Center, Ferrero. “We’re looking forward to connecting with the city’s vibrant community of food innovators at the Future of Food Summit.”

“Chicago has been a hub of food and beverage innovation for more than a century, and Ingredion is proud to have been a part of that story. The Chicago Venture Summit on the Future of Food is a critical catalyst for the next chapter of Chicago’s accelerating entrepreneurial growth, which we are excited to support,” said Jim Zallie, president and CEO of Ingredion. “As a global ingredient solutions provider, we are excited to co-create with both global food brands and next generation startups to build scalable and sustainable food and beverage solutions that make healthy taste better.”

“S2G has been investing in food and agriculture for more than a decade, and we’ve seen firsthand how Chicago has become one of the most dynamic ecosystems for innovation in this space,” commented Sanjeev Krishnan, Managing Partner, S2G Investments. “This event provides a critical bridge between operators and the capital needed to scale solutions that can transform how we eat, farm, and build resilient supply chains. We’re proud to have a role in this year’s convening and to champion the next generation of food system innovators.”

“At Tilia, we’re investing in the next generation of food and agriculture companies that are transforming how the world eats and produces,” said Margaret M. Mueller, Ph.D., Managing Director, Tilia Holdings. “Tilia’s strategy is positioned at the intersection of Food x Health, investing in businesses that help to make the food supply chain safer, healthier and more sustainable. We are fortunate to be part of the Chicago community, which is at the center of this change — home to visionary entrepreneurs, strong industry anchors, and a deep talent base that fuels growth. The Chicago Venture Summit: Future of Food shines a light on the innovation and operational excellence that make this region a premier destination for scaling sustainable, high-performing businesses.”

“Illinois is uniquely positioned to lead in the future of food. At the College of ACES, we are cultivating a growing ecosystem where scientists, entrepreneurs, and investors collaborate on sustainable food systems, personalized nutrition, and biomanufacturing to create real-world impact,” stated Germán Bollero, dean of the College of Agricultural, Consumer and Environmental Sciences at the University of Illinois Urbana-Champaign. “This sold-out summit is a chance to grow new partnerships that will shape that future.”  

“Feeding the world requires bold innovation and powerful connections,” noted Steven Shaw, Community Engagement Director at Verizon. “Verizon is thrilled to support the Chicago Venture Summit in bringing together the entrepreneurs and technologies reshaping our food systems. From 5G-enabled precision agriculture to AI-driven supply chains, we’re committed to providing the infrastructure and solutions that help food innovators scale their impact.”

Additional sponsors include:

Innovation Sponsors: 1871, Clique Studios, Greater Chicagoland Economic Partnership (GCEP), and Illinois Manufacturers’ Association, JP Morgan, mHUB

Venture Partners: Barrel Ventures, Bluestein Ventures, Capitalize VC, Listen, Lofty Ventures, Naturally Chicago, Serra Ventures, Supply Change Capital, TechNexus Venture Collaborative, Valor Equity Partners

Innovation Sponsors & Venture Partners Fueling Chicago’s Startup & Food Innovation Ecosystem

“Chicago’s food and agriculture heritage runs deep, and its future is just as bold,”  stated Betsy Ziegler, CEO, 1871. “1871 is honored to partner with World Business Chicago and our community of innovators to ensure that the next wave of FoodTech breakthroughs is built right here — by local founders, for global impact.”

Ted Novak, Partner & Managing Director, Clique Studios, added: “We have been supporters of the Chicago Venture Summit since the start, because what they are doing matters, and what Chicago entrepreneurs bring to the world is worth showcasing and investing in.”

“Illinois boasts an innovative food and beverage sector, which represents the largest category of the state’s manufacturing industry. Taken together, Illinois manufacturers employ 650,000 workers and are the largest contributor of any industry to the state’s Gross Domestic Product, generating more than $580 billion for the state’s economy each year,” said Mark Denzler, President and CEO of the Illinois Manufacturers’ Association. “The Chicago Venture Summit Future of Food is a grand showcase of our state’s amazing food ecosystem, fostering collaboration and connectivity that will further inspiration and innovation.”

“Chicago’s legacy in food and agriculture, paired with its thriving innovation economy, positions the region to lead the reimagining of efficient, healthy food systems,” said Haven Allen, mHUB CEO & Co-founder and mHUB Ventures Managing Partner. “As both incubator and investor, mHUB is honored to back the Chicago Venture Summit, a signature platform fueling Chicago’s growing startup and investor ecosystem. From supply chains to water management to manufacturing, food systems are where convergence happens — we see tremendous opportunity to drive efficiency, sustainability, and growth across the entire food-tech value chain.”

“Chicago is home to countless food companies of all sizes, from small startups to multi-billion conglomerates,” commented Nate Cooper, Managing Partner, Barrel Ventures. “It makes sense that the Future of Food summit would be here. Barrel Ventures invests in the future of food- and we couldn’t be more excited to partner with WBC to bring together innovators throughout the world of food to drive the future of innovation and growth.”

“Listen backs consumer-obsessed entrepreneurs building brands at tipping points—and the Future of Food is a behavior shift we are actively investing against,” stated Rick Desai, Investments, Managing Partner, Listen. “Iconic food brands new and old call Chicago home, including our portfolio brands Factor, Fresh Factory, Go Brewing, and Cumin Club. And Chicago and the Midwest are the epicenter of food manufacturing and distribution. We’re supporting World Business Chicago and the Chicago Venture Summit because the past, present, and future of food is in Chicago.”

“Chicago is such a food town and we’re so thankful to be a part of the food & retail tech community here by backing amazing founders at startups such as Science On Call, RetailAware, Zenblen, teaBOT, Quicklly, ClearCOGS, and many others,” added Christopher Deutsch, Founder, Lofty Ventures. “Thank you, World Business Chicago for helping us catalyze the local angel community to power our next generation of business leaders.”

“We are incredibly grateful to sponsor and attend the Chicago Venture Summit Future of Food event for the last several years,” commented Tim Hoerr, CEO of Serra Ventures. “Chicagoland and the great State of Illinois have firmly established themselves as a national hub for agtech and foodtech innovation and venture investment. To be a part of this vibrant community of innovators, investors and entrepreneurs is a great privilege.”

“For two decades, TechNexus Venture Collaborative has cultivated better, more impactful relationships between corporations and startups,” added Fred Hoch, Co-founder, General Partner, TechNexus Venture Collaborative. “As a foundational builder and long-standing supporter of Chicago’s dynamic innovation ecosystem, we’re thrilled to partner with World Business Chicago on the Chicago Venture Summit: Future of Food, an event that brings together leading corporations and groundbreaking startups to drive industry reinvention. The future of food, and every industry, relies on these deeper, more strategic relationships, and we’re proud to be a catalyst for that vital progress right here in Chicago.”

The Chicago Venture Summit Future of Food — led by World Business Chicago with support from partners — is an invite-only gathering of the nation’s top founders, investors, and corporate leaders shaping the future of food. With Chicagoland recognized as the #1 food manufacturing hub in the U.S., the sold-out Summit offers media and industry a rare look inside one of the world’s most dynamic food and agtech ecosystems. To learn more, visit www.chicagoventuresummit.com or contact [email protected].

ABOUT WORLD BUSINESS CHICAGO:
World Business Chicago (WBC) serves a critical role in driving inclusive and equitable economic development throughout the city’s 77 neighborhoods, focused on high growth sectors: food production, transportation, distribution, & logistics; manufacturing; healthcare & life sciences, and our local innovation, startup, & venture ecosystem. As the City of Chicago’s economic development agency, World Business Chicago leads corporate attraction & retention, workforce & talent, community impact, and promotion of Chicago as a leading global city. Supported by a council of 300+ local leaders, World Business Chicago’s portfolio of innovation & venture programs include: the Chicago Venture Summit series, Startup Chicago, and ThinkChicago. Follow World Business Chicago on LinkedIn for news and announcements on corporate relocation and expansion, industry and ecosystem growth, U.S. and world rankings, and economic development.

SOURCE World Business Chicago