ZUG, Zwitserland, 23 oktober 2024 — Validation Cloud, het toonaangevende Web3-data en AI-bedrijf, heeft True Global Ventures geselecteerd als hoofdinvesteerder, met een bijdrage van 10 miljoen dollar. Het bedrijf is van plan de fondsen te gebruiken om zijn AI-product uit te breiden, om naadloze toegang tot Web3-data en ongeëvenaarde gebruikerservaringen met netwerkecosystemen en -toepassingen te leveren.
“Web3 heeft naadloze toegang tot data nodig om een miljard gebruikers te bereiken. Validation Cloud lost deze kritieke hindernis voor adoptie op met technologische doorbraken in zijn kernplatform naast AI. We hebben staking en node API-diensten gezien, maar nooit in combinatie met AI. Het is juist deze combinatie die wij zo spannend vinden in de dataproducten die Validation Cloud voor bedrijven met Web3-infrastructuur aanbiedt,” zegt Beatrice Lion, CEO & General Partner van True Global Ventures.
Het productplatform van het bedrijf bestaat uit drie componenten: staking, node API en data & AI. Op het gebied van staking heeft Validation Cloud meer dan 1 miljard dollar aan assets gestaked, met een groei van 400% op jaarbasis. Bovendien laat de Node API consistent de beste globale prestaties zien, gemeten door CompareNodes. Validation Cloud heeft onder meer als klanten Chainlink, Aptos, Consensys, Stellar en Hedera.
Vooral het AI-platform maakt het verkennen van gegevens op de keten eenvoudiger en sneller. Door navigatie te comprimeren van uren naar seconden, zorgt het platform van Validation Cloud voor een grotere betrokkenheid, waardooer het gebruikersbestand groter en actiever wordt. Deze innovatie maakt het verschil in het toegankelijker maken van blockchaingegevens.
“We zijn enthousiast om samen te werken met True Global Ventures vanwege zijn wereldwijde commerciële bereik, focus op het snijvlak van Web3 en AI, en zijn synergetische portfolio. TGV sluit nauw aan bij onze missie en heeft een uitzonderlijke toegevoegde waarde die verder gaat dan zijn kapitaal,” zegt Alex Nwaka, medeoprichter van Validation Cloud.
Validation Cloud is een van de snelst groeiende bedrijven in Web3. Deze financieringsronde volgt op de verhoging van het bedrijf in februari 2024, geleid door het in San Francisco gevestigde Cadenza Ventures, met deelname van Blockwall, Bloccelerate, Side Door Ventures, GS Futures, AP Capital, Blockchain Founders Fund en Metamatic.
Over Validation Cloud
Validation Cloud is een Web 3-data- en AI-bedrijf met toonaangevende producten op het gebied van staking, node en data-as-a-service. Validation Cloud wordt vertrouwd door de topnetwerken, -toepassingen en -ondernemingen in Web3 die de hoogste eisen stellen aan prestaties, schaalbaarheid en SOC2 type 2-compliance.
Voor investeerdersvragen kunt u contact opnemen met: [email protected]
Over True Global Ventures, TGV
TGV 4 Plus Fund investeert wereldwijd in AI- en blockchainbedrijven. TGV steunt visionaire ondernemers in sectoren zoals AI, entertainment, technologische infrastructuur en financiële diensten in vroege stadia en na de Serie B.
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ZUG, Switzerland, Oct. 23, 2024 — Validation Cloud, the leading Web3 data and AI company, has selected True Global Ventures as its lead investor, with a contribution of $10M. The company plans to use the funds to expand its AI product, bringing seamless access to Web3 data and enabling unparalleled user experiences to network ecosystems and applications.
“Web3 needs seamless access to data to reach a billion users; Validation Cloud is solving this critical hurdle to adoption through technological breakthroughs in its core platform alongside AI. We have seen staking and node API services, but never in combination with AI. This is what we are most excited about with Validation Cloud’s data product offering for Web3 infrastructure companies,” said Beatrice Lion, CEO & General Partner of True Global Ventures.
The company’s product platform consists of three components: staking, node API, and data & AI. In staking, Validation Cloud has exceeded more than $1 billion of assets staked, growing 400% year-over-year. Further, its Node API consistently demonstrates the best global performance, measured by CompareNodes. Some of Validation Cloud’s clients include Chainlink, Aptos, Consensys, Stellar, and Hedera.
Most notably, its AI platform makes on-chain data exploration easier and faster. By compressing navigation from hours to seconds, Validation Cloud’s platform drives greater engagement, resulting in a larger, more active user base. This innovation represents a distinctive step in making blockchain data more accessible.
“We are thrilled to partner with True Global Ventures due to their global commercial reach, focus on the intersection of Web3 and AI, and synergistic portfolio. TGV has a deep alignment with our mission and exceptional value-add beyond their capital,” said Alex Nwaka, Co-Founder of Validation Cloud.
Validation Cloud is one of the fastest-growing companies in Web3. This funding round follows the company’s raise in February 2024, led by San Francisco-based Cadenza Ventures, with participation from Blockwall, Bloccelerate, Side Door Ventures, GS Futures, AP Capital, Blockchain Founders Fund, and Metamatic.
About Validation Cloud
Validation Cloud is a Web3 data and AI company with industry-leading products in staking, node, and data-as-a-service. Validation Cloud is trusted by the top networks, applications, and enterprises in Web3 demanding #1 performance, scalability, and SOC2 Type 2 compliance.
TGV 4 Plus Fund invests in AI and blockchain-driven companies globally. TGV backs visionary entrepreneurs in sectors including AI, entertainment, technology infrastructure and financial services in early stages and beyond Series B.
SOURCE True Global Ventures
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Funding backs the development of an independent platform that sets new standards for data quality and transparency in first-party data exchange, tackling an urgent industry challenge
SALT LAKE CITY, Oct. 23, 2024 — Data Quality Co-op (DQC), the insights industry’s first independent clearinghouse for data quality measurement, today announced that it has received its first funding round of $1.25M USD. The funding was led by Kickstart Fund, joined by SaaS Venture Capital and Service Provider Capital, along with several influential individual investors from the consumer insights, technology, and finance sectors.
As the global first-party data market is projected to surpass $140 billion by 2025 (ESOMAR), the demand for transparency and trust has reached a critical point. Businesses are increasingly reliant on first-party data, yet face rising challenges of fraud, inconsistent quality, and a lack of transparency. DQC’s innovative platform directly addresses these issues, providing businesses with clear benchmarks and actionable insights so they can trust the data they rely on to make business decisions.
“Data Quality Co-Op is addressing a critical gap in the data-driven economy and setting a new standard for data integrity in this rapidly growing market,” said Tanner Potter, Partner at Kickstart Fund. “As businesses increasingly rely on first-party data for growth, transparency around data quality becomes essential. We believe DQC’s technology will enable companies to better trust the data powering their decisions.”
Inspired after trailblazing companies that improved large markets through increased transparency like Verisk Analytics for insurance and Integral Ad Science for digital ads, DQC’s platform aggregates data quality signals across multiple sources. By offering industry-wide norms and quality measurement, it allows businesses to compare their data quality with broader standards and take proactive measures against fraud.
As more data flows into the platform, the network effects enhance the accuracy, depth and comprehensiveness of its insights—delivering even greater value to all users. DQC’s early clients are already experiencing the benefits of these powerful features.
“We’re committed to addressing the industry transparency challenge head-on,” said Bob Fawson, CEO and Founder at Data Quality Co-Op. “This funding round enables us to accelerate platform development and pursue our goal of helping the sector fully realize the transformative potential of its data.”
The platform solves common challenges in the data ecosystem:
Many businesses struggle to fully understand the quality of their data. DQC creates powerful visualizations, shares industry norms, and offers unique insights to help users address quality issues up front.
The constant risk of fraud and inconsistent data undermines trust, impacting the reliability of data-driven recommendations. DQC provides real-time insights and alerts that empower users to make informed data purchasing decisions, manage fraud and assess quality risk.
Building trust is difficult without clear, verifiable data integrity. DQC audits and certifies quality management programs and outcomes, helping users differentiate themselves with trusted, high-quality data.
“Our platform strengthens the quality signals for everyone in the ecosystem of market research and adjacent industries. The way it works allows companies to not only measure their own data but also improve collaboration across the supply chain,” said Ian Haynes, Co-Founder of Data Quality Co-Op.
Established earlier this year, DQC has developed its platform in partnership with early clients who are committed to improving industry data quality. Its leadership and advisory team represent decades of experience working with the largest data suppliers and research companies in the world, with deep expertise in data quality, industry innovation and technology. Those interested in building the future of quality through an engagement with the new solution should email contact@dataqualityco-op.com.
About Data Quality Co-Op Data Quality Co-op (DQC) is an independent 1st-party data quality clearinghouse. We transform how buyers and suppliers of 1st-Party data measure, understand and manage the quality of their data. Our platform offers continuous quality measurement and real-time quality certification by aggregating, analyzing, and benchmarking data quality signals. Together with our clients, we are shaping the future of fast, reliable data-driven insights. Headquartered in Salt Lake City, Utah, our mission is to ensure each business decision, marketing campaign or AI model is driven by data that’s high-quality, high-value and perfectly suited for its purpose. For more information, visit www.dataqualityco-op.com.
About Kickstart Fund Kickstart Fund is a seed-stage venture capital firm. Kickstart’s mission is to fuel the best companies in the Mountain West by providing smart capital, a connected community, and expert guidance. Since raising its first fund in 2008, Kickstart has invested in more than 150 companies. For more information, visit www.kickstartfund.com.
SAN FRANCISCO, Oct. 23, 2024 — Sidero Labs, a leading software developer focused on providing innovative solutions to help lower the friction in managing Kubernetes and containerized applications, is thrilled to announce a $4.0 million investment round led by Hiro Capital with participation from Sony Innovation Fund. This funding round will help accelerate Sidero Labs’ vision of bringing out-of-the-box software solutions to manage bare metal and hybrid clusters – all while enabling the highest levels of security and integrity.
Sidero Labs was born out of real-life Kubernetes experience – and problems. The founders had been running production Kubernetes clusters for large enterprise companies, and found that many of the existing Linux distros required a lot of effort and frequent patching to ensure security.
Sidero was created to solve these operational challenges. The team’s first project was Talos Linux, a radically new immutable operating system built purely for Kubernetes. Talos Linux offers key benefits such as security, stability and efficiency, and improved performance capabilities, by minimizing functional surface area.
“Sidero Labs is at the forefront of transforming how Kubernetes is used and deployed, from home-labs to enterprise data centers to edge computing” said Luke Alvarez, Managing Partner at Hiro Capital. “Their fundamental suite of tools addresses important tech industry needs. They are a brilliant, fast moving, innovative team and we are excited to support their mission.”
“We are excited about the future of Kubernetes and are delighted to welcome Hiro Capital and Sony Innovation Fund as key partners,” said Steve Francis, CEO of Sidero Labs. “This investment marks a pivotal moment for us, allowing us to accelerate product development and scale awareness to meet the growing demands of companies looking for intuitive and powerful tools to deploy and manage Kubernetes.”
Sidero’s latest product, Omni, helps teams easily setup, deploy, and manage clusters anywhere. Omni allows users to start with bare metal, virtual machines or a cloud provider, and create clusters spanning all locations, or deploy single node clusters at remotely managed edge-sites, with a few clicks. Sidero Labs is trusted by leading companies across the world in a variety of industries such as video games (Ubisoft), healthcare (Roche), and telecommunications (Nokia).
Sidero’s products are known for their ease of use, as highlighted by customers like Ubisoft: “With just three developers, we built our API on top of Omni, and had the operational cluster up and running quickly. If we had not used Omni, it would have delayed our platform by a year,” Ubisoft shared.
Nokia also views Sidero Labs’ Talos Linux as an important part of their cloud strategy, stating that “Talos has become a foundation and building block for us. 98% of what we do today is Kubernetes-based, and Talos is an integral part of that stack. We’re building our cloud infrastructure using Talos.”
“We are thrilled to support Sidero Labs on their journey to improve how Kubernetes is deployed and managed across environments,” said Joseph Tou, Managing Director – U.S., Sony Ventures. “Their innovative approach to simplifying and supporting Kubernetes implementations addresses the complex challenges of modern infrastructure management. As industries like entertainment increasingly rely on cloud-based content distribution, Sidero’s solutions will enhance security, efficiency, and scalability for businesses.”
“The community and enterprise uptake of our declarative, API managed solutions that simplify Kubernetes has been great,” said Andrew Rynhard, Founder and CTO of Sidero Labs. “This investment from Hiro Capital and Sony Innovation Fund is a recognition of our advanced technology, and will allow us to execute faster to realize the vision of simple, secure distributed computing, anywhere, that can be run by anyone.”
About Sidero Labs Founded in 2019, Sidero Labs is an innovative software development company focused on building tools and infrastructure to improve the experience for companies seeking to adopt Kubernetes and containerized applications. Sidero Labs’ key products include Talos Linux (a minimal, immutable, and API-managed operating system designed specifically for running Kubernetes) and Omni (a SaaS platform for Kubernetes that simplifies deployment, management, and upgrades of Kubernetes clusters on bare metal, virtual machines, and cloud providers). Sidero’s products are trusted by hundreds of companies and help manage tens of thousands of clusters across the globe.
About Hiro Capital Hiro Capital is a London based Venture Capital firm which invests globally in Games, Digital Sports and Spatial Computing technologies. Hiro invests at Seed through Series A and B stages. We back experienced entrepreneurial teams, building innovative technologies and content with a strongly differentiated proposition and with the scaling opportunity to become very large. We are entrepreneurs who back entrepreneurs. We believe that Games, Sports and Spatial technologies will be at the heart of next generation human societies. We invest in the innovators who are building that future. https://hiro.capital/
About Sony Ventures Corporation Sony Ventures Corporation manages the Sony Innovation Fund (SIF), which invests in all stages of emerging technology companies, as well as in startups solving global environmental challenges. SIF engages with pioneering startups to help fuel the development of disruptive technologies, launch new businesses, and contribute to the environment while seeking return on investment. Sony Ventures Corporation is headquartered in Japan. Learn more at www.sonyinnovationfund.com.
SOURCE Sidero Labs
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Series C led by Lightspeed Venture Partners and Ascenta Capital with participation from top-tier new investor syndicate and existing investors
Funding will advance distinctive pipeline of targeted radiopharmaceuticals through clinical studies across multiple tumors with high unmet patient need
Growing portfolio will be supported by continued investment in discovery capabilities and expansion of manufacturing and isotope supply partnerships
BOSTON and VANCOUVER, BC, Oct. 23, 2024 — Alpha-9 Oncology Inc. (Alpha-9 or the Company), a clinical stage company developing radiopharmaceuticals to meaningfully improve the treatment of people living with cancer, today announced an oversubscribed $175 million Series C financing to support the progression of its pipeline. The financing was led by Lightspeed Venture Partners and Ascenta Capital. A selected syndicate of new investors – General Catalyst, a16z Bio + Health, RA Capital Management, Janus Henderson Investors, Delos Capital, Digitalis Ventures, Lumira Ventures and a healthcare fund managed by abrdn Inc. – joined the round, in addition to existing investors Frazier Life Sciences, Longitude Capital, Nextech Invest, BVF Partners LP, and Samsara BioCapital. Shelley Chu, head of Lightspeed Venture Partners’ healthcare team and Evan Rachlin, cofounder and managing partner of Ascenta Capital will join the Company’s Board of Directors.
Alpha-9 has built a diversified portfolio of clinical and discovery assets across both validated and novel targets. The Series C will fund human studies for the clinical stage assets and advancement of discovery stage assets to clinic-ready development candidates. Furthermore, the Series C will fund expanded R&D capabilities and continued investment in CMC and supply chain.
“Over the last few years, Alpha-9 has built a leading radiopharmaceutical company with a deep pipeline and robust infrastructure,” said Alpha-9 CEO, David Hirsch, MD, PhD. “The Series C is an exciting, significant milestone for us and will greatly accelerate our growth. We are thrilled to have the backing of a top-tier investor syndicate who share our belief in the potential of radiopharmaceuticals.”
“Alpha-9 is developing a differentiated portfolio that includes multiple radiopharmaceuticals with first-in-class and best-in-class potential,” said Shelley Chu, head of Lightspeed Venture Partners’ healthcare team. “We are impressed with the team’s progress to date and are proud to support the advancement of these programs.”
Alpha-9’s approach to designing bespoke molecules is systematic and data-driven. The Company has a differentiated toolbox of binders, linkers, chelators and radioisotopes – elements that each play an integral role in radiopharmaceutical development. Alpha-9 designs each component of the radiopharmaceutical for optimal selectivity, stability and payload delivery. The Alpha-9 approach is rigorous, fast and capital efficient, generating best-in-class compounds for rapid clinical development.
“We have been following this space for a long time. What differentiated Alpha-9 was its effective approach to molecule design as well as its thoughtful strategy on infrastructure expansion,” said Evan Rachlin, MD, managing partner of Ascenta Capital. “We are pleased to support the Company’s continued progress as it strives to deliver on the promise of radiopharmaceuticals.”
To support its endeavors, Alpha-9 has purpose-built research facilities in Vancouver, which were completed last year and have been operating at scale. These facilities help to accelerate drug development by streamlining discovery processes. Alpha-9 has also partnered with isotope suppliers and CDMOs to support its ongoing clinical trials. Alpha-9’s commitment to continue building robust infrastructure and world class capabilities underscores the company’s mission to provide effective treatments for patients worldwide.
About Alpha-9 Oncology
Alpha-9 Oncology Inc. is a clinical stage radiopharmaceutical company developing differentiated and highly targeted radiopharmaceuticals with the potential to meaningfully improve the treatment of people living with cancer. Applying proprietary technologies and deep foundational expertise, Alpha-9 is on the forefront of engineering bespoke radiopharmaceuticals that are optimized to selectively deliver radiation to tumor sites while minimizing off-target effects. Alpha-9 is advancing a robust pipeline of novel radiopharmaceuticals with a systematic approach to molecule design that offers broad potential for expansion into several validated oncology targets. For more information, please visit www.a9oncology.com.
About Lightspeed Venture Partners
Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise, Healthcare, Consumer and Fintech sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 500 companies globally including biotechnology companies such as Abata, Ancora, Diagonal, Enlaza, Forty Seven, Personalis, Pheon, Teneobio, Triana, Scorpion, Seismic, Ultima Genomics, Xaira, ZagBio, and more. Lightspeed and its global team currently manage $25B in AUM across the Lightspeed platform, with investment professionals and advisors in the U.S., Europe, India, Israel, and Southeast Asia. For more information, please visit www.lsvp.com.
About Ascenta Capital
Ascenta Capital is a biotech venture fund, co-founded in 2023 by Dr. Evan Rachlin and Dr. Lorence Kim. The fund is focused on a concentrated portfolio of investments in multi-product companies. For more information about Ascenta Capital, visit www.ascentacap.com.
Notice Regarding Forward-Looking Statements:
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). The words “may”, “will”, “potential”, “believes” and “if” are intended to identify forward-looking statements, although not all forward-looking statements contain such terms. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause actual results, future circumstances, or events to differ materially from those projected in the forward-looking statements. These risks include but are not limited to: those associated with the success of research and development programs, the ability to raise additional funding, and the need to obtain regulatory approval. Forward-looking statements are made as of the date hereof and Alpha-9 disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
SOURCE Alpha-9 Oncology, Inc.
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Investment to scale-up infrastructure and fuel R&D to democratize access to scalable AI solutions
MUMBAI, India, Oct. 23, 2024 — Neysa, a pioneering AI Acceleration Cloud System provider, today announced it has raised $30 million in Series A funding. The round was co-led by existing investors NTTVC, Z47 (fka Matrix Partners India) and Nexus Venture Partners. This investment builds on Neysa’s successful $20 million seed round earlier this year, underscoring strong investor confidence in the company’s mission to accelerate Gen AI innovation, for Indian enterprises and public sector.
Sharad Sanghi, CEO and Co-founder, Neysa (PRNewsfoto/Neysa)
Since the seed funding round, Neysa has made significant strides in advancing its technology and market presence. The company’s flagship platform, Neysa Velocis, launched in July 2024, which enables on-demand access to high-performance computing infrastructure, is now generally available. Neysa has secured orders from paying customers across various sectors, including AI-first digital natives, media and entertainment companies, service providers, software vendors, and the public sector.
“This investment brings us closer to our vision of democratizing access to Gen AI and AI solutions for organizations across the world,” said Sharad Sanghi, Co-Founder and CEO of Neysa. “We’re thrilled with the progress we’ve made since our seed round. The general availability of Neysa Velocis and the onboarding of customers across key sectors validate our approach. By offering purpose-built, cost-effective AI-native solutions, we empower organizations to innovate confidently in a world that is being reshaped by AI.”
“We are excited to co-lead the Series A round and deepen our partnership with Neysa,” said Vab Goel, Founding Partner at NTTVC and Board Member of NTT DATA, Inc. “The team’s innovation and commitment to accelerating Gen AI solutions are creating a significant impact in the region’s tech ecosystem. We have seen firsthand how Sharad built India’s largest datacenter company from inception. His experience and track record are a critical differentiator in building and scaling the next-generation Gen AI cloud provider.”
Avnish Bajaj,Founder and Managing Director,Z47 added, “Sharad, Andy and Neysa team’s remarkable progress in a short period of time has been inspiring. Neysa finds itself in the enviable position of having more demand than any other company, I have seen at a similar stage and is a catalyst for digital transformation not just an AI provider. We’re privileged to support the company’s journey in empowering organizations to harness the full potential of AI with their world class AI technology platform and capabilities.”
Jishnu Bhattacharjee, Managing Director, Nexus Venture Partners noted, “By building out AI-native compute infrastructure and making that easily and securely accessible, Neysa is accelerating the adoption of Generative AI by the enterprises. We are thrilled to double-down on our partnership with Sharad, Andy and team, in their journey of building one of the most advanced AI clouds out of India for the world.”
Neysa is strengthening collaborations with global system integrators, cloud service providers, and AI-focused software providers. These alliances will help advance its mission to democratize AI and bridge the digital divide. Through participation in government initiatives and industry collaborations, Neysa is shaping public discourse on AI adoption and innovation.
About Neysa
Neysa, an AI Acceleration Cloud System provider, democratizes AI adoption with purpose-built platforms and services for AI-native applications and workloads. Co-founded by industry leaders, Neysa empowers businesses to discover, deploy, and scale Gen AI and AI use cases securely and cost-effectively.
Their flagship platforms, Neysa Velocis, Neysa Overwatch, and Neysa Aegis, accelerate AI deployment, optimize network performance, and safeguard AI/ML landscapes. Neysa is committed to enabling AI-led innovation across industries and geographies.
Company Expands Nationally, Enhances Suite of Platform Features
NEW YORK, Oct. 22, 2024 — BiltOn, a leading construction operations & risk management software, has announced the completion of a $15 million Series B funding round, along with a rebranding from its former name, Beti. This investment was led by PSG Equity, a growth equity firm specializing in software and technology-enabled services, with additional participation from Titan Capital and 97212 Ventures.
As part of this funding, Jeff Wilpon, founding partner and CEO of Sterling Project Development, has joined BiltOn’s advisory board. Wilpon brings extensive experience in overseeing more than $10 billion worth of construction projects across various sectors.
Platform Growth and Capabilities
Since its founding in 2018, BiltOn has rapidly expanded its platform to empower owners and general contractors in managing workforce, safety, and compliance during the construction process. With both web and mobile accessibility, the platform offers a range of tools, including 3D facial recognition for workforce verification, automated time tracking for payroll, daily logs, incident reporting, safety checklists, permit management, and certification tracking. These features aim to centralize data and improve project oversight, helping users navigate complex regulatory requirements.
Expanding National and Global Reach
Currently, BiltOn supports over 1,200 construction companies across more than 3,000 active job sites globally. The platform serves a wide range of construction verticals, including civil, industrial, commercial, residential, and healthcare sectors. Since launching in the U.S., the company has experienced growth and expanded its team to more than 70 employees. Among its clients are some prominent general contractors such as Consigli, Rudin, Hunter Roberts, SD Builders, and OKO Group.
“We’re thrilled to further our investment in BiltOn as they expand their operations across the U.S. and continue to bring valuable solutions to the construction industry,” said Ronen Nir, Managing Director of PSG Equity.
Comprehensive Solutions for Risk and Compliance
BiltOn’s suite of tools is designed to help support smoother workflow management, enhance safety monitoring, and streamline compliance processes. The platform’s proprietary risk scoring system helps contractors manage potential risks on-site, offering real-time insights into workforce activity, permitting, and project safety. Although outcomes may vary, these capabilities are intended to assist in mitigating risks and improving overall project efficiency.
“We believe BiltOn’s technology is transforming the way owners and general contractors manage compliance and project efficiency. By providing real-time data and automation, we’re helping contractors navigate the complexities of construction site operations with more confidence,” said Omer Slavin, founder, and CEO of BiltOn.
Technology Integration and Industry Impact
BiltOn integrates seamlessly with widely used construction management tools such as Procore and Autodesk. The platform also complies with New York City Department of Buildings standards, offering a streamlined approach to managing project data and meeting regulatory requirements. While not guaranteed, BiltOn’s technology is designed to assist in reducing site risks, lowering insurance claims, and improving Experience Modification Rates (EMR) scores. The company’s reach has expanded from its roots in New York City to projects across the U.S. and globally.
About BiltOn BiltOn is a construction operations & risk management software platform that empowers owners and general contractors to track and manage labor, safety, and compliance challenges during construction and in the future. Only BiltOn provides the ability to guarantee that only the people who are supposed to be on the jobsite are, how long they’ve spent on-site with automated daily work and safety logs, and compliance with all safety regulations. Reduce the risk of all types of litigation, including wage theft, safety, and permitting compliance. For more information, please visit https://bilton.tech/.
About PSG PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 140 companies and facilitated over 500 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid, and Tel-Aviv. To learn more about PSG, visit www.psgequity.com.
TollBit Ensures AI Companies Can Pay Publishers to Access the Content They Need in Real Time
NEW YORK, Oct. 22, 2024 —TollBit founders Olivia Joslin and Toshit Panigrahi announced today that the company has raised $24M led by Lightspeed in Series A funding for their platform, which has created a fluid payment system benefiting both AI companies and content creators. TollBit allows AI agents and applications to pay websites directly to use their content or data. TollBit empowers publishers and content owners to monitor AI bot traffic and put up a tollbooth to monetize usage. The platform makes it easy for publishers to onboard multiple AI and LLM partners in real-time.
By providing tech infrastructure and payment protocol, TollBit helps AI companies use content without legal uncertainty. The system relies on tokens that are issued and validated by the platform to ensure every scrape or use is authorized and logged.
Joslin and Panigrahi welcome the support of two major new investors, Lightspeed and Section 32, both venture capital firms that focus on the growth of new technologies. Additional investments are from industry veterans Jeff Dean and Manuel Bronstein.
Today’s funding announcement comes on the heels of strong growth since the company’s March 2024 seed round, which totaled nearly $7M. TollBit’s initial funding came from top investors with ties across digital media, tech, and AI. The seed round was led by Sunflower Capital and included participation fromAIX Ventures,Lerer Hippeau, Checker Media,Operator Collective, andLiquid 2. Additional early funding came fromBDMI.
In more evidence of the company’s strength, TollBit also announced today that it has secured partnerships with its first AI companies and onboarded over 200 publisher sites. Publisher partners include Penske Media Corporation, TIME, Mumsnet, Trusted Media Brands, CANDR Media Group, and ADWEEK.
“This market has grown so fast and we find both sides working with us to find mutually beneficial solutions,” said Joslin. “Our platform supports multiple 1:1 deals between publishers and AI companies. That solves the problem that both sides face with unscalable and time-consuming one-on-one negotiations.”
Panigrahi added, “We are very excited to be pioneering a standard so that any AI application can source content directly from any publisher – large or small – under standard terms in real-time without having long, protracted negotiations. This is the only way to create a sustainable AI ecosystem.”
TollBit, he added, “is the only company offering a real-time solution for digital publishers to license their content per use and get paid immediately.”
“As AI agents become more accessible and proliferate at an exponential rate, publishers and digital content owners need a way to monetize content that doesn’t rely simply on eyeballs and clicks,” said Michael Mignano, Partner at Lightspeed, who will be joining TollBit’s board. “TollBit is the solution, addressing the needs of both publishers and AI developers — we’ll be watching and supporting the team as they innovate for tech companies in this new gen AI era.”
Panigrahi and Joslin, alumni of Toast, the cloud-based restaurant management company, say TollBit’s nimble technology will also help publishers scale, as it provides them with the flexibility to set rates going forward. “We believe TollBit will create a healthier online ecosystem where publishers have the resources to invest in the quality, timely content that AI companies rely on to innovate and thrive—and that consumers expect,” Panigrahi said. TollBit has managed to create one system that every publisher can use, despite the use of different types of technology by a diverse industry.
Sara Beykpour, CEO of Particle, the AI-powered news application, praised TollBit’s platform: “Particle is really excited about the model TollBit is championing. Our visions are aligned, and we look forward to seeing TollBit enable innovation in media while ensuring that content publishers are compensated.”
Danielle Coffey, CEO of the News/Media Alliance, which represents more than 2,200 publishers, expressed her support for TollBit’s platform, “As publishers work with AI developers to build equitable partnerships, TollBit offers a scalable ecosystem solution to help news publishers monitor, provide access, and service licenses. We welcome efforts by companies like TollBit to help meet the needs of our industry, which is necessary for journalism to thrive.”
“TIME has always embraced innovation to expand access to our trusted journalism. We look forward to partnering with TollBit to ensure we receive fair value for our content as we uphold our commitment to providing reliable information for audiences around the world,” said TIME Chief Operating Officer Mark Howard.
Jacob Salamon, VP of Business Development at Trusted Media Brands, owner of media properties including Reader’s Digest, said, “The media landscape continues to evolve rapidly as new technologies and AI tools are implemented and we are fortunate to have a partner like TollBit to help us embrace innovation in a way that can work for all of us.”
Chris Dicker, CEO of CANDR Media Group, said, “To ensure the sustainability and growth of the evolving digital media ecosystem, innovative tools like TollBit are essential. We are excited to have partnered with them and are eager to embrace a future where the use of premium content is exchanged fairly and transparently.”
“As the front page and homepage for the advertising, brand, and media industries, ADWEEK is on the front lines covering how AI is transforming publishers’ business models, and is an advocate for ensuring content creators are compensated and recognized for their work,” said ADWEEK CEO Will Lee. “We are thrilled to partner with TollBit to ensure ADWEEK will be fairly compensated for our commentary and journalism.”
About TollBit TollBit offers AI agents and applications an easy and compliant way to compensate websites directly for content. The platform seeks to address the new economics of content creation in the AI era by reducing the legal uncertainties of scraping and protecting the health of the entire content ecosystem.
About Lightspeed Lightspeed is a multi-stage venture capital firm focused on accelerating disruptive innovations in the enterprise, consumer, fintech, and health sectors. Over the past two decades, we’ve backed hundreds of entrepreneurs and helped build more than 500 companies globally.
About Section 32 Section 32 is a venture capital firm investing at the frontiers of technology. Our goal is to accelerate the discovery, development, and distribution of revolutionary technologies that improve the human condition. We invest across the entirety of technology.
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NEW YORK, Oct. 22, 2024 — Counsel Health announces $11M in Seed funding led by Andreessen Horowitz (a16z) Bio + Health, with participation from Asymmetric Capital Partners, Floodgate Fund and Pear VC. The funding will support Counsel’s national expansion and coverage extension to millions more members.
The U.S. healthcare system has an access-to-care crisis, with 60 million Americans facing primary care shortages and patients waiting 38 days for appointments. Meanwhile, demand for messaging-based medical advice has surged with patient inbox messages increasing six-fold, contributing to physician burnout and delayed responses.
Founded by a team of physicians and engineers, Counsel’s mission is to improve access to care by providing patients high-quality, personalized medical advice from expert physicians within minutes. By offering on-demand guidance, Counsel reduces unnecessary hospital visits, eases the provider burden and improves the patient experience.
“The power of technology lies in its ability to make the best version of something available to everyone,” said Dr. Alagappan. “Access to high-quality healthcare advice remains a global challenge, but Counsel’s AI-embedded virtual medical practice breaks that barrier by enabling everyone to feel like they have a doctor in the family.”
At the core of Counsel’s model is an AI-native “clinician cockpit” that integrates patients’ medical records, specialty guidelines and academic research, enabling physicians to respond with more efficiency and quality. “Counsel’s hybrid structure—part software company, research lab and medical practice—uniquely positions it to deliver a care experience that hasn’t been possible until now,” said Nancy Chou, partner at Asymmetric Capital Partners.
Counsel currently serves tens of thousands of patients through its health plan and provider partnerships in California, New York, Massachusetts, Florida and Texas, and plans to expand nationwide over the next two years.
Over time, Counsel’s innovative approach could even spark the creation of a new medical specialty—Asynchronous Medicine—where providers specialize in messaging-based care. “Counsel’s technology has made asynchronous care more sustainable and efficacious,” said Julie Yoo, general partner at a16z Bio + Health. “Counsel thoughtfully integrates AI with physicians, ensuring care remains safe, personalized and effective. We’re excited to support Counsel’s transformative journey.”
Counsel Health Counsel Health was founded in 2023 to multiply the world’s healthcare capacity. Counsel provides patients with personalized on-demand medical advice while avoiding unnecessary medical expenses. Visit www.counselhealth.com.
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