The former Fortune 50 CEO joins Define to further drive transformational change in healthcare at the earliest stages of innovation

SAN FRANCISCO, Oct. 22, 2024 — Define Ventures, one of the largest venture capital firms focused on early-stage health tech companies, today announced that Bruce Broussard, former CEO and president of Humana (NYSE: HUM), has joined the firm as venture partner. Bruce will play a pivotal role at Define, leveraging his invaluable experience scaling companies and fostering innovation within private startups, mid-size companies, and the Fortune 50. He will partner closely with Define founders to scale their businesses and become category-defining companies. 

Bruce is a seasoned healthcare executive and multi-time CEO, having held executive leadership positions across multiple corners of the ecosystem. Prior to joining Define, Bruce was president and CEO of Humana for over a dozen years. Under his leadership, Bruce led a strategic shift towards expanding the company into an integrated model with a growing care delivery focus. Bruce also held several roles at McKesson Specialty Health including CEO, CFO, President, and Chairman of the Board. He currently serves on the Humana Foundation Board, is Chair of the Board of Directors of the Trust for the National Mall, and is a board member for HP Inc. and One Call.

“Bruce’s extensive background and proven track record in leading healthcare organizations of all sizes makes him uniquely qualified to guide the next generation of health tech innovators,” said Lynne Chou O’Keefe, founder and managing partner at Define Ventures. “Having had the privilege to closely partner with Bruce for the past decade, I am confident his decision to join our team will sharpen our investing theses, accelerate our partner companies’ growth, strengthen our relationships with large healthcare organizations, and ultimately create a lasting impact on the broader health tech community.”

Bruce is joining a team that pulls the full weight of its network and expertise to play offense and drive results, including securing early customers, shaping commercial strategies, and building high-performing teams. As venture partner, Bruce will leverage his experience driving transformative change within complex healthcare organizations to help Define founders to navigate industry challenges and scale their innovations effectively. His perspective will also strengthen Define’s close partnerships with its coalition of large health systems, health plans, employers, and life sciences companies, half of which are customers of Define partner companies.

“What excites me the most about this role is the opportunity to work with brilliant, innovative entrepreneurs at the earliest stages of their journey,” Broussard said. “Being able to see groundbreaking approaches from the start, and having the chance to shape products and help scale and bring them to market is truly invigorating. Ultimately, I chose to work with Define because I believe this firm is uniquely positioned and capable of driving real transformation in healthcare. The strong, trustworthy relationship we’ve built over the years has shown me that Define’s vision aligns perfectly with my own. Together, I believe we can make significant strides in creating a healthcare system that’s more efficient, more accessible, and more focused on keeping people healthy.”

Bruce’s decision to join Define Ventures stems from his belief that the firm is uniquely positioned and capable of transforming healthcare. He has built a strong and trustworthy relationship with Define over the past several years, including first-hand experience in incubating and spinning out Cohere Health from Humana. This collaborative history underscores the alignment between Bruce’s vision for healthcare innovation and Define’s strategic approach.

Define Ventures has $800 million in assets under management and partners with companies at the seed, series A and series B stages. The firm attracts leading health tech entrepreneurs with its high conviction approach, partnering with over two dozen companies including Hims & Hers (NYSE: HIMS) and Unite Us. This announcement follows Frank Williams, co-founder and former CEO of Evolent (NYSE: EVH) joining Define as venture partner earlier this year.

To learn more about Define Ventures, visit www.definevc.com.

About Define Ventures
Define Ventures is one of the largest funds focused on early-stage health tech companies. With $800 AUM, we take a high conviction approach in partnering with companies at the earliest stages. We believe the future of healthcare will be defined who bring together a deep understanding of the healthcare ecosystem paired with a technology-driven mindset. Our team was built in this vision, bringing together founders and investors who built category-defining companies and delivered $23 billion in exit value, including Livongo (LVGO), Evolent (NYSE: EVH), and Hims & Hers (NYSE: HIMS).

SOURCE Define Ventures

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

Breakthrough Cloud Twin Model Powers the Only Real Time Cloud Threat & Exposure Detection and Response Solution that SecOps Teams Can Trust

TEL AVIV, Israel and PALO ALTO, Calif., Oct. 22, 2024 — Stream.Security, the leading provider of real-time cloud security solutions, today announced the closing of a $30 million Series B funding round led by U.S. Venture Partners, with participation from new investors, Citi Ventures, and existing investors, Energy Impact Partners (EIP), Cervin Ventures, TLV Partners, and Glilot Capital Partners VC. This new round of funding brings the total investment in Stream.Security to $55 million.

Stream.Security’s Cloud Twin technology provides SecOps teams with real-time cloud threat and exposure modeling to accelerate response. As a result, SecOps teams can trust Stream.Security to quickly identify attack paths across all elements of their rapidly changing cloud infrastructure, assess the potential impact of breaches, eliminate false positives, and accelerate mean time to response (MTTR). The Stream.Security platform allows SecOps teams to visualize the full storyline of an attack and harness artificial intelligence to streamline investigations and improve productivity for over-burdened teams.

Most security organizations are utilizing inadequate cloud detection and response solutions, as evidenced by the fact that 82% of enterprises take more than seven hours to respond in a world where it takes less than three minutes for a threat actor to make a lateral movement after an initial breach. To effectively reduce risk, it’s imperative that organizations augment alert or log-based solutions traditionally used for monitoring and alerting and eschew scanner-based cloud security tools in favor of cloud-native real-time security solutions designed for the dynamic nature of the cloud.

“We have struggled to gather enough context to triage quickly, and getting a real-time view of an attack is challenging,” said Petr Zuzanov, SecOPS Architect, RingCentral. “Stream has been instrumental in helping us close the security gaps in our cloud infrastructure by providing a clear understanding of attack path and blast radius of every threat or exposure. Stream’s real time platform has enabled us to identify and address threats and exposures that we were previously unaware of, significantly reducing our risk exposure, the opportunity cost of investigating false positives, and overall time and cost to remediate.”

“Stream Security offers a unique value proposition by correlating behavioral anomalies with real-time cloud context, accelerating our investigation process,” said Niv Schlomo, Vice-President, Cloud Operations, Kaltura.

“The market for Cloud Security solutions is still in its infancy with eighty-nine percent of organizations planning to implement or enhance their Cloud Detection and Response capabilities,” said Jacques Benkoski, General Partner at U.S. Venture Partners. “We have invested in many of the top security companies and our diligence has clearly demonstrated the need for a new real-time cloud security solution. We are excited to invest in a fundamentally different and proven solution that helps SecOps teams with a critical alternative to ‘point in time’ cloud security solutions that create exploitable security gaps that cost enterprises millions to investigate and remediate.”

“The demand signal for real-time cloud-native threat exposure management has never been stronger, as most enterprise SecOps teams are still relying on solutions designed for the relatively inert on-prem world to defend the cloud,” said Matt Carbonara, Managing Director at Citi Ventures. “We believe that Stream is uniquely positioned to capitalize on this opportunity and are excited to partner with them to help drive innovation and adoption of their unique Cloud Twin technology globally.”

“SecOps teams need a cloud solution they can trust, and without the ability to continuously assess and manage threat and exposure in real-time, they are securing the cloud through the rear-view mirror,” concluded Or Shoshani, CEO, Stream.Security. “This funding validates our fundamentally superior approach to cloud security and will play an important role in bringing our Cloud Twin technology to enterprises worldwide.” [To learn more about Stream.Security story, read Or’s blog post on today’s funding milestone.]

About Stream.Security

Stream.Security delivers the only cloud detection and response solution that SecOps teams can trust. Born in the cloud, Stream’s Cloud Twin solution enables real-time cloud threat and exposure modeling to accelerate response in today’s highly dynamic cloud enterprise environments. By using the Stream Security platform, SecOps teams gain unparalleled visibility and can pinpoint exposures and threats by understanding the past, present, and future of their cloud infrastructure. The AI-assisted platform helps to determine attack paths and blast radius across all elements of the cloud infrastructure to eliminate gaps accelerate MTTR by streamlining investigations, reducing knowledge gaps while maximizing team productivity and limiting burnout.

For more information, visit Stream.Security.

SOURCE Stream.Security

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

Pace Ventures & GC Ventures Co-Lead Pre-Seed Round to Scale Technology to Decarbonize Petrochemicals

NEW YORK, Oct. 22, 2024 — Turnover Labs, an early-stage, NYC-based start-up that aims to decarbonize the chemical manufacturing industry and change the way the world produces petrochemicals announced that it has closed a $1.4 Million Pre-Seed funding round. Pace Ventures and GC Ventures are co-leads along with Sandy Spring Climate Partners and a select handful of other leading VC firms.

Turnover Labs leverages proprietary technology pioneered and developed at Columbia University to convert “dirty” CO₂ produced in chemical manufacturing — and released into the atmosphere — into valuable chemical building blocks. Founded in 2022, Turnover’s innovative electrolysis technology will allow chemical companies to produce their products without relying on petroleum feedstocks. Research indicates that chemical manufacturing accounts for more than 2 billion tons of CO₂ emissions every year; and a majority of these emissions have no current technical solutions for reduction, avoidance, or capture.

According to founder and CEO Marissa Beatty, Ph.D., Turnover will use the funds to expand its engineering team, grow business development efforts, and accelerate R&D to transition its technology from the lab to a sub-scale prototype. These critical growth steps will lead to building a real-world prototype that could “recycle” thousands of tons of CO₂ annually.

“Using Turnover’s technology, chemical manufacturers will be able to synthesize the most basic chemical building blocks out of the CO₂ being emitted by their own facilities,” Beatty said. “Our design emphasizes durability and process compatibility with existing infrastructure, and we’re building our systems to be highly resilient, inexpensive, and able to scale into many different processes.”

Beatty emphasized that Turnover’s approach uses existing infrastructure to make conversion highly cost-effective. “Instead of building a new process to be compatible with our conversion system, we’re building a system that can easily fit into the operations of virtually any chemical manufacturing plant,” she said. “Our hope is that our approach will help speed the transition to a petroleum-free future because we can make use of chemical manufacturing assets that are already in place and operating. These assets still have years of life left before they’re replaced with more efficient alternatives, so we’re excited to offer chemical producers a way to reduce emissions and costs today.”

For more information visit http://www.turnoverlabs.com.

Media Contact: 
Kathy Berardi
[email protected]
678-644-4122

SOURCE Turnover Labs

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

RSA Innovation Sandbox-winning AI-generated media detection platform accelerates development as part of new upsized round led by Illuminate Financial.

NEW YORK, Oct. 22, 2024 — Reality Defender, the premier deepfake and AI-generated media detection platform, announced today that its Series A fundraising has been expanded, securing a total of $33 million in capital investment. The expanded fundraising round was led by Illuminate Financial, with additional participation from Booz Allen Ventures, IBM Ventures, the Jeffries Family Office, and Accenture, as well as additional participation from original Series A lead investor DCVC and past investors The Partnership Fund for New York City and Y Combinator.

Founded in 2021, Reality Defender is the leading platform providing enterprises, platforms, and governments with robust solutions to detect deepfakes and AI-generated content across audio, video, images, and text. Since launching in 2021, Reality Defender has partnered with financial entities, government agencies, and media conglomerates to detect millions of deepfakes, prevent advanced voice fraud in real time, and deflect state-sponsored attackers.

“The Reality Defender team’s proactive development has allowed our platform to not only keep pace with the many ills brought on by deepfakes and generative AI, but protect against novel and potential future threats as they appear,” said Ben Colman, CEO and Co-Founder of Reality Defender. “Illuminate not only recognizes the threats deepfakes pose to the financial sector, but allow us to further our reach in the sector and beyond — moving from call centers at tier-one banks to vulnerable places where AI-enabled fraud can inflict the most damage.”

“Financial institutions are experiencing a growing number of synthetic media attacks and are at the greatest risk of financial loss and reputational damage,” said Alexander Ross, General Partner at Illuminate, who will also join the Reality Defender board. “We are excited to partner with Reality Defender to accelerate their go to market through Illuminate’s strategic partners and industry-focused network.”

“Reality Defender has swiftly established itself as the industry leader in deepfake detection,” said Ali Tamaseb, a General Partner at DCVC and a member of Reality Defender’s board of directors. “It offers vitally needed protection against emerging digital threats against enterprises, governments, and the world’s largest banks and financial institutions. We are excited to welcome new investors, including financial institutions and financial technology investors, on-board.”

As deepfakes continue to spread and cause tangible damages on and offline, Reality Defender’s technology has become increasingly critical in the fight against fraud and disinformation. According to Accenture’s Cyber Intelligence (ACI) researchers, threat actors are willing to spend more for higher quality deepfakes, with prices reaching up to $20,000 per minute for high quality videos. Additionally, researchers have observed a 223% increase from Q1 2023 compared to Q1 2024 in the purchasing and selling of deepfake-related tools in major dark web forums, showing the immediate need for Reality Defender’s AI-driven real-time detection capabilities in maintaining the trust and integrity of critical systems. With this extended funding, Reality Defender is poised to continue its mission of protecting organizations, governments, and individuals from the threats posed by deepfakes and AI-generated content.

About Reality Defender

Reality Defender is an award-winning cybersecurity company helping enterprises and governments detect deepfakes and AI-generated media. Utilizing a patented multi-model approach, Reality Defender is robust against the bleeding edge of generative platforms producing video, audio, imagery, and text media. Reality Defender’s cloud-based deepfake detection web platform and corresponding API empowers teams to identify fraud, disinformation campaigns, and harmful deepfakes in real time.

About Illuminate Financial

Illuminate Financial is a thesis-driven venture capital firm, focused on Fintech and enterprise software companies defining the future of financial services. Illuminate Financial’s deep networks and trusted partnerships with key industry participants provide real insight into what the industry needs and helps their portfolio companies achieve their full potential.

Additional information can be found at www.illuminatefinancial.com
Twitter: @IlluminateFM
Blog: https://medium.com/illuminate-financial
LinkedIn: https://www.linkedin.com/company/illuminate-financial-management 

CONTACT: Scott Steinhardt, [email protected], +17188645744

SOURCE Reality Defender

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

OSLO, Norway, Oct. 22, 2024 — Nel Hydrogen Electrolyser AS, a fully owned subsidiary of Nel ASA (Nel) (OSE: NEL), has today been awarded a grant from the EU Innovation Fund of up to EUR 135 million for industrialization of its next-generation pressurized alkaline technology. The technology is currently being prototyped, and the potential industrialization is planned at Herøya, Norway.

“We continue to realize the full potential of our current technology at the same time as we develop future technologies to help our customers drive down the cost of green hydrogen. This grant will make it significantly easier for us to bring our new innovative pressurized alkaline technology to market,” said Nel’s President and CEO, Håkon Volldal.

Nel has been developing its next-generation pressurized alkaline technology for more than five years. The technology is currently in the prototype stage with promising results. Nel has now been awarded a grant for a phased build-out of production at Herøya, Norway. The grant application was supported by Enova SF, the Norwegian national contact point for the EU Innovation Fund.

“Building on nearly 100 years of electrolyser innovation, we have developed this new, differentiated technology that will be a step-change in cost and performance for renewable hydrogen. Bringing a new technology to market always entails risk, and we are thankful for the support we have previously received from the Research Council of Norway and Innovation Norway. With this substantially larger grant from the EU Innovation Fund, we will be able to bring the innovation to market at an accelerated pace,” Volldal says.

The initial build-out is planned for an annual capacity of 1-2 GW, utilizing existing space at Nel’s current facility in Herøya, Norway. The support will be phased with Nel’s own investments for up to 4 GW of capacity for pressurized electrolyser equipment in Norway. A final investment decision to start building the capacity depends on achieving successful testing in the current prototype and planned pilot stage, as well as market acceptance of the new technology.

For additional information, please contact:
Kjell Christian Bjørnsen, CFO, +47 917 02 097
Wilhelm Flinder, Head of Investor Relations, +47 936 11 350
Lars Nermoen, Head of Communications, +47 902 40 153

About Nel ASA | www.nelhydrogen.com

Nel has a history tracing back to 1927 and is today a leading pure play hydrogen electrolyser technology company with a global presence. The company specializes in Alkaline and PEM technology for production of renewable hydrogen. Nel’s product offerings are key enablers for a green hydrogen economy, making it possible to decarbonize various industries such as transportation, refining, steel, and ammonia.

This information is subject to a duty of disclosure pursuant to Section 5-12 of the Norwegian Securities Trading Act. This information was issued as inside information pursuant to the EU Market Abuse Regulation, and was published by Wilhelm Finder, Head of Investor Relations, at NEL ASA on the date and time provided.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/nel-asa/r/nel-asa–awarded-eur-135-million-in-grants-for-industrialization-of-next-generation-electrolyser-tec,c4054532

The following files are available for download:

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

Funding to accelerate clinical validation of AvenCell’s proprietary Universal Switchable CAR-T cell therapy platform, for the treatment of a wide range of hematologic malignancies and auto-immune diseases

New investors F-Prime Capital, Eight Roads Ventures Japan, Piper Heartland Healthcare Capital and NYBC Ventures join Novo Holdings alongside founding investor Blackstone Life Sciences

Michael Bauer of Novo Holdings and Nihal Sinha from F-Prime Capital to join AvenCell’s Board of Directors

WATERTOWN, Mass., Oct. 22, 2024 — AvenCell Therapeutics, Inc. (“AvenCell”), a leading clinical-stage cell therapy company focused on advancing both autologous and allogeneic switchable CAR-T cell therapies, today announced that it has raised $112 million in Series B financing. The financing was led by global life sciences investor Novo Holdings. New investors F-Prime Capital, Eight Roads Ventures Japan, Piper Heartland Healthcare Capital and NYBC Ventures also participated in the round alongside founding investor Blackstone Life Sciences. As part of this financing, Michael Bauer, Ph.D., Partner, Venture Investments, Novo Holdings, and Nihal Sinha, MB BChir, Partner, F-Prime Capital will join AvenCell’s Board of Directors.

This latest financing will support ongoing clinical validation of AvenCell’s proprietary, switchable universal CAR-T cell therapy platform that generates CAR-T cells that can rapidly be turned “Off” and “On” even after they are administered to a patient. The universal platform was developed to more safely and effectively treat a wide range of hematologic malignancies compared to conventional cell therapies. Current clinical assets utilizing AvenCell’s universal platform include AVC-101, a highly-differentiated autologous CAR-T cell candidate, and AVC-201, a CRISPR-engineered allogeneic CAR-T cell candidate. Both products target the antigen CD123 found on most Acute Myeloid Leukemia (AML) cells. The ongoing trials are investigating both products for the treatment of relapsed/refractory AML, which has a high unmet medical need, and very limited treatment options for patients. In addition, AvenCell has several pipeline candidates entering the clinic over the next two years.

“We are excited by the progress of our pipeline and believe our next-generation immunotherapies have the power to address significant unmet patient needs,” said Andrew Schiermeier, Ph.D., Chief Executive Officer, AvenCell Therapeutics. “AvenCell is working to transform the standard of care through switchable, adaptable and readily available cell therapy treatments that can better treat a wide range of difficult-to-treat cancer and autoimmune diseases. The support of Novo Holdings and this leading group of new investors will be integral to our ability to progress and bring these therapies to patients.”

“AvenCell’s universal switchable technology and CRISPR-engineered allogeneic platforms are first-of-its-kind and represent a step change in the field of cell therapy. Both AVC-101 and AVC-201 have already yielded encouraging safety and efficacy results in early clinical trials in a very difficult to treat disease like AML. Our investment reflects our confidence in these assets and the future of cell therapy, as well as our long-held strategy to support companies transforming care solutions to enhance patient outcomes,” said Michael Bauer, Partner, Venture Investments, Novo Holdings.

“AvenCell’s switchable CAR-T platform represents a paradigm shift in cell therapy, offering unprecedented control over treatment dynamics,” said Nihal Sinha, MB BChir, Partner at F-Prime Capital. “The ability to modulate CAR-T cell activity post-infusion could address critical safety and efficacy challenges in current therapies. We look forward to supporting AvenCell’s journey in advancing these promising cell therapies through clinical development, with the potential to address significant unmet needs in the treatment landscape.”

About AvenCell Therapeutics

AvenCell derives its name from the French word “avenir” to reflect the aim to be the FUTURE of cell therapy. AvenCell is building a truly transformative cell therapy company that targets difficult-to-treat cancers, with its lead programs focusing on acute myeloid leukemia (AML) and additional programs targeting other hematological malignancies. AvenCell was formed with the goal to create truly allogeneic cells that persist as long or longer than autologous therapies and develop a universal and switchable construct that allows complete control and target redirection of T cells after they are infused into a patient. Integration of these two platforms allows for complete separation of the manufacturing of cells from ultimate patient and cancer target, thus providing significant scalability potential at orders of magnitude more efficient than current approaches.

AvenCell Therapeutics, Inc. was launched in 2021 by Blackstone Life Sciences, Cellex Cell Professionals, and Intellia Therapeutics. AvenCell is headquartered in Watertown, Massachusetts with additional R&D and manufacturing operations in Dresden, Germany.

For more information, visit www.avencell.com. 

Follow AvenCell on social media: LinkedIn.

SOURCE AvenCell Therapeutics, Inc.

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

Announcing Light Unfolding^® Technology, Lumenuity Secures $1.2M in Seed Funding to Significantly Enhance Optical Zoom Performance, Cost and Capability

LOS ANGELES, Oct. 21, 2024 — Lumenuity today announced its official launch with a revolutionary optical technology that significantly enhances the zoom capabilities of smartphone cameras. The company also unveiled a $1.2 million seed funding round, and are collaborating with Qualcomm Technologies, Inc. to optimize the Lumenuity technologies for use on smartphones that contain the latest Snapdragon mobile platforms. The breakthrough technology offers widespread applications beyond smartphones, including drones, augmented reality (AR), and more.

Lumenuity’s Light Unfolding^® technology delivers DSLR camera performance in a pocket-sized mobile device. This advancement delivers users professional zoom quality without the cost or weight of traditional cameras, revolutionizing mobile photography.

Co-founded by Dr. Benjamin Shapiro and Dr. Edo Waks, experts in optics, electrical engineering and quantum, Lumenuity has spent years refining and developing this new optical solution. The team is supported by a prestigious advisory board with decades of leadership in top-tier smartphone and AR companies.

“Our patented Light Unfolding technology compresses unprecedented optical power into compact devices,” said Dr. Benjamin Shapiro, co-founder and CEO of Lumenuity. “With this innovation, consumers can capture stunning, high-quality images from their smartphones—virtually eliminating the need for bulky, high-end cameras.”

In addition to enhancing image performance, Lumenuity’s technology offers significant manufacturing advantages by reducing the need for multiple cameras in devices. Currently, smartphones rely on separate cameras for primary, wide-angle, and zoom functions. Lumenuity’s optical system can deliver the performance of two cameras in one, streamlining design and reducing production costs—savings that can be passed directly to consumers.

“Lumenuity’s technology allows higher-performance optics in a more efficient form factor,” said Judd Heape, Vice President, Product Management at Qualcomm. “Qualcomm will be able to support phone makers that will be implementing this new technology on the Snapdragon platform, by providing complimentary advanced image processing and AI features to further increase image quality.”

Lumenuity has already developed prototypes that deliver double the zoom capability of existing smartphone cameras, all while maintaining industry-standard size and form. The company has been collaborating closely with Qualcomm, a leader in the smartphone industry, and with DXOMARK, leaders in assessing phone camera image quality, to refine and validate their technology.

“Given the company’s unique technological approach, robust IP portfolio and attractive project roadmap, we’re thrilled to invest in the team at Lumenuity,” said Michael Beer, Investment Partner at Vest Coast Capital. “The company is well-positioned to meaningfully improve camera performance while also reducing phone costs”.

About Lumenuity:
Lumenuity is a cutting-edge optics company delivering groundbreaking technology for enhanced optical performance in compact systems. Our Light Unfolding^® technology unlocks new imaging possibilities. We provide custom solutions tailored to our partners’ needs. Learn more at www.LumenuityInc.com.

Founders:
Benjamin Shapiro, PhD: Founder and CEO. Served in C-suite roles for 3 deep-tech companies. Was a Full Professor in engineering for 18 years, at the University of Maryland at College Park. Fulbright scholar. On LinkedIn: https://www.linkedin.com/in/benjamin-shapiro-834ab28b/

Edo Waks, PhD: Co-Founder. Full Professor, Electrical & Computer Engineering, Quantum Institute, University of Maryland at College Park. Expert in optics, light and quantum mechanics. PECASE (Presidential Early Career award). Fellow APS (Applied Physics Society), OSA (Optical Society of America). On LinkedIn: https://www.linkedin.com/in/edo-waks-3635173b/

About Qualcomm:
Qualcomm is a trademark or registered trademark of Qualcomm Incorporated. Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries.

SOURCE Lumenuity, Inc.

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

New WaterStone Impact Fund aims to assist donors in growing their giving funds by facilitating investment in faith-led tech startups through a partnership with the Tebow Group and Caplin Ventures

COLORADO SPRINGS, Colo., Oct. 21, 2024 — WaterStone, a Christian foundation renowned for its faith-based financial planning and charitable giving, announced today the launch of the WaterStone Impact Fund, established through an innovative partnership with The Tebow Group—founded by former Heisman Trophy winner Tim Tebow—and Caplin Ventures, a family office headed by Ricky Caplin. The fund was created to provide a unique opportunity for a broad range of investors —including traditional limited partners and those with Donor-Advised Funds—to contribute to faith-led investments in technology startups.

“WaterStone has always worked to support donors and amplify giving. That’s why we’re excited to partner with The Tebow Group in this new initiative and eager to watch it bear fruit,” said Ken Harrison, CEO of WaterStone. “The fact that our donors can do that while also supporting the work of the Tim Tebow Foundation and mentor faith-led founders makes this a fantastic opportunity from every perspective.”

Fueling tech startups is only a part of what makes the fund unique, however, a portion of the fund’s carried interest will be channeled to the Tim Tebow Foundation, a non-profit that focuses on the fight against human trafficking and child exploitation, orphan care and prevention, profound medical needs and special needs ministry in over 95 countries worldwide.

“As technology evolves and impacts human flourishing worldwide, we believe faith-led founders have a unique role in advancing these initiatives,” said Joel Chakra, Managing Partner of the WaterStone Impact Fund and The Tebow Group. “The fund will serve as a bridge between faith and finance, enabling us to strategically invest in ventures that fuel faith, hope and love, while also giving back to causes that align with biblical values. With AI, automation, and robotics at the forefront of innovation, this partnership is an exciting step forward to support both economic growth and the life-changing work of the Tim Tebow Foundation.”

Tim Tebow, former NFL quarterback and Heisman Trophy winner, with his wife, Demi-Leigh—a former Miss Universe, author, speaker, and human rights advocate—are the driving forces behind the for-profit Tebow Group, which the two founded out of a shared passion for purposeful investing and social impact. “Millions of vulnerable children and adults are trapped in horrific cycles of trafficking, exploitation, and abuse. It’s one of the greatest evils in our world today, and we can’t sit by and do nothing. We have to act. That means pouring our time and resources into fighting for people who can’t fight for themselves,” Tim said. “As a management team, we are committed to leveraging the general partner carried interest generated by the WaterStone Impact Fund to make life-saving resources available, empowering us to expand the mission of the Tim Tebow Foundation and reach even more children and families who are in desperate need.”

The fund will be led by a distinguished team, including Tommy Martin and Ricky Caplin, alongside the Tebows and Joel Chakra. Martin, CEO of the Tebow Group and General Partner of Mammoth Scientific VC, will serve as a strategic advisor. A Harvard Business School alumnus, Martin has guided more than 35 companies as an owner or angel investor in healthcare, fintech and real estate and was called a top 40 under 40 industry ‘visionary’ in 2014 by Investment News. Caplin, Founder and Chairman of Caplin Ventures, brings extensive entrepreneurial experience to the fund as a General Partner alongside Tim Tebow. He previously served as CEO of The HCI Group, where he led its successful merger with Tech Mahindra in 2017, transforming the combined entity into a global leader in digital healthcare. A recipient of the Ernst & Young Florida Entrepreneur of the Year Award, Caplin has been nationally recognized for his business and civic contributions, including being named a “Rising Star of the Profession” by Consulting Magazine and a Top 75 Leader in Healthcare by Advantage Magazine.

“As Christians, we are called to be good stewards of our financial resources, using them to make a meaningful impact. Because of our large network of industry experts, we know we can add deep expertise and insights to help these companies generate extraordinary results,” Caplin said. “We hope this fund can serve as an example that inspires the next generation of faith-led founders and investors.”

WaterStone has long been known for its integration of Christian values into financial strategies, offering donor-advised funds and transforming complex assets like business interest and real estate into charitable gifts. These funds provide donors with tax benefits while aligning their charitable contributions with Christian principles.

About WaterStone
WaterStone is a Christian foundation that comes alongside givers, advisors and ministries to provide trusted counsel and innovative giving strategies. Our expertise is working with business owners and stewards of family wealth to unlock the giving potential of their non-cash assets like real estate, business interests, oil and gas and agricultural commodities. Through WaterStone, families can multiply their giving impact for the Kingdom, minimize taxes, and heighten the joy of generosity. WaterStone gives away more than $3 million a week in grants to charities that make a difference.

About The Tebow Group
The Tebow Group is a talent management firm, purposeful investing firm, technology accelerator, and creative agency. The Tebow Group grew out of Tim and Demi Tebow’s combined passion to foster and develop companies, brands, investments, and people who align with their shared vision to make a positive impact in the world. The Tebow Group’s mission is to fuel and amplify faith, hope, and love.

About Caplin Ventures
Founded in 2018, Caplin Ventures is a first-generation investment firm with the sole focus of building community-impactful, best-in-class companies. Our strategy is to invest in early-stage, cutting-edge opportunities, guiding each venture with the leadership, resources, and capital necessary to achieve unrivaled success and self-sustainability.

SOURCE WaterStone

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

NEW YORK, Oct. 21, 2024 — Today, Zephyr announced that it has raised over $60M in new growth capital led by Elda River Capital (“Elda River”) and The Pritzker Organization (TPO). Zephyr will use the new funding to support additional home services business acquisitions and continued technical innovation. This latest round brings Zephyr’s total funding to nearly $100M since it started operating in November 2022.

Zephyr is a technology-enabled home services platform built with the technician at the center. Zephyr acquires local service providers in targeted markets, integrates them into a unified technology and productivity platform, and drives growth at those local brands with centralized support in recruiting, training, marketing, operations effectiveness, finance, M&A and more. By reimagining the technician experience, Zephyr is driving efficiency, retention, and profit for local HVAC brands across the country.

“Zephyr is accelerating the digital transformation of home services,” said Michael Dean, Partner at Elda River. “The Zephyr platform prioritizes the technician experience to deliver improved customer comfort through superior service, enhanced technician knowledge and the installation of more energy efficient mechanical systems.”

The mechanical (HVAC), electrical, and plumbing market captures over $125B spend each year, but the industry is facing a 50% projected technician labor shortage that is set to undermine an already fragmented market. The employee experience in the skilled trades has fallen far behind other industries, which has made it very difficult to attract and retain talent. As the first technician-centric operating platform, Zephyr is solving this problem by utilizing technology and people management to differentially attract and retain technicians.

“We are excited to partner with the team in accelerating the growth at Zephyr,” said Billy Nand, Managing Director at The Pritzker Organization. “Zephyr’s differentiated strategy is poised to create a unique platform in home services.”

Zephyr has closed on twelve acquisitions to date in a handful of target geographies, including the metro areas of Washington, DC; Houston; Palm Beach/South Florida; and Denver.  With the company’s current funding, the team expects to eclipse $100 million of revenue this year and is organically growing over 25%.

Zephyr is led by CEO and Co-founder Shawn Weidmann, who has over 15 years of executive experience leading and scaling businesses with expansive front-line employee bases, and most recently served as CEO of private-equity backed Spring Education, the largest network of  private PS-12 schools in the US. Shawn is joined by Chief Financial Officer Michelle DiPasquale, who has more than 20 years of PE-backed CFO experience and deep, multi-site M&A experience; and Chief Product & Technology Officer Kevin McDunn, who has 20+ years experience developing mobile-first productivity applications. Zephyr was built at Juxtapose, a leading creation-oriented investment firm focused on building industry-transforming businesses from the ground up, alongside Co-founder and current Head of Strategy, Deklan Robinson, who brings significant consumer services and M&A experience from his roles at Harry’s and L Catterton.

With this investment, representatives from Elda River and TPO will join Zephyr’s board of directors. Michael Morgan, a founding member of Triangle Peak Partners, will also join Zephyr’s board as an observer. Morgan is the former president and current lead director at Kinder Morgan, one of the largest energy infrastructure companies in North America.

“We’ve assembled an incredible team in pursuit of our mission to perfect the home services experience,” said Weidmann. “We’re thrilled to use this investment to build on Zephyr’s early momentum and continue driving growth, efficiency and success in the industry – while ensuring technicians are at the core of everything we do.”

With this new round of funding, Zephyr plans to continue executing on its geographic growth plans in both new and existing markets. Zephyr also plans to continue investing in its proprietary technology platform to enhance its unique and compelling offering to technician talent across the industry.

“We are proud of everything Zephyr and its talented leadership team has already accomplished,” said Geoff Miller, Partner at Juxtapose. “We welcome Elda River and TPO to the company, and are excited for Zephyr’s next chapter of growth.”

For more information on Zephyr, visit www.zephyrhome.com.

About Elda River Capital

Elda River Capital is a real assets investment firm focused on energy transition and infrastructure opportunities. The Elda River team has a long history of partnering with exceptional management teams to create value for our stakeholders. Since inception, Elda River has committed over $7.0 billion of capital across more than 70 completed investments.  Elda River is headquartered in Houston, Texas with additional offices in Evanston, Illinois and London, United Kingdom. Visit www.eldariver.com for more information.

About TPO

TPO is the merchant bank for the business interests of the Tom Pritzker family. TPO is focused on partnering with exceptional leaders to create value across a wide range of industries. TPO looks for opportunities where it can create value for the family’s interests and those of its partners and colleagues over a significant time horizon. For more than 60 years, TPO has overseen and guided the development of dozens of portfolio companies across a wide variety of industries, including manufacturing, logistics, life sciences, hospitality, healthcare and services. Notable businesses include Hyatt Hotels, Triton Container and the Marmon Group. Recent control investments include TMS International, Lithko Contracting, KBP Investments, Mammoth Holdings, STV Inc., and Crown Health Care Laundry Services. In addition to its core strategy of building businesses over the long term, TPO is also active in special situations, advising the family’s interests in the deployment of capital across a wide spectrum of industries and investment structures. Additional information can be found at https://pritzkerorg.com.

About Juxtapose

Founded by Patrick Chun and Jed Cairo in 2015, Juxtapose is a creation-oriented investment firm exclusively focused on building industry-transforming businesses from the ground up. Juxtapose and its associated investment funds have supported the creation and financing of technology companies such as Care/of, Tend, Orchard, Great Jones, DayForward, and Modern Age. The firm partners with some of the world’s most experienced and talented entrepreneurial operators to found and scale category-defining technology companies that have trajectories to be the market leaders in the industries in which they operate. To learn more, please visit www.juxtapose.com.

Contact: [email protected]

SOURCE Zephyr

WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In