WINSTON-SALEM, N.C., Oct. 21, 2024 — mPATH® Health, a digital health company dedicated to improving cancer screening, is thrilled to announce the successful closure of $3 million in funding, which will accelerate the company’s mission to enhance cancer prevention and improve health equity. This funding includes a $2 million Small Business Technology Grant from the National Cancer Institute (NCI) and a $1 million equity investment led by Oncology Ventures, an oncology-focused venture capital firm.
The NCI grant, awarded in July 2024, will support the continued commercialization of mPATH’s groundbreaking cancer screening program, which has demonstrated the ability to double screening rates across diverse populations, regardless of race, ethnicity, income, or literacy level. This grant will facilitate additional development and rigorous clinical testing of mPATH’s program.
“We are incredibly proud of the recognition from the NCI and the investment from Oncology Ventures,” said Dr. David Miller, co-founder of mPATH. “This $3 million funding will allow us to rapidly expand our reach, increase cancer screenings, and ultimately save lives. It will also enhance our program and ensure that we can document its return on investment for health systems and insurers.”
The $1 million from Oncology Ventures will enable mPATH to accelerate its growth and outreach efforts, allowing for the development of additional screening and preventive health modules. Oncology Ventures seeks to invest in and support companies improving cancer care access and outcomes, while reducing costs.
Oncology Ventures Founder, Ben Freeberg, expressed enthusiasm for the partnership, stating, “Oncology Ventures is proud to lead mPATH’s Seed Financing and support Dr. Dave Miller, Dr. Ajay Dharod, and their team as they bring much-needed preventive care to populations who need support. mPATH aims to empower patients by identifying, educating, and ensuring timely access to relevant screenings.”
As Freeberg noted, “Every one-month delay in cancer treatment results in a 10% increase in mortality and treating metastatic cancer costs twice as much as treating localized cancer. By improving access to screening, mPATH is well positioned to significantly enhance cancer care outcomes at scale.”
With a commitment to health equity, mPATH is excited to showcase how its platform improves outcomes for all patients, regardless of their background. This funding marks a pivotal moment in mPATH’s journey to redefine cancer prevention and save lives.
About mPATH Health mPATH Health is a digital health company dedicated to transforming preventive cancer screening by integrating automation and behavioral science. By leveraging cutting-edge technology and personalized outreach, mPATH empowers individuals to prioritize their health and undergo regular screenings for early cancer detection. For more information, visit www.mpathhealth.com.
About Oncology Ventures Oncology Ventures is a New York-based venture capital firm committed to revolutionizing cancer care and research. By investing in startups improving early detection, care navigation during treatment, survivorship and more, Oncology Ventures has positively impacted the lives of 80,000+ cancer patients. The fund is backed by nine strategic investors (including Cardinal Health, City of Hope, and Moffitt Cancer Center) and a suite of institutional fund-of-funds, family offices, and individuals. For more information, visit https://www.oncology.ventures.
About The National Cancer Institute (NCI) NCI is the federal government’s principal agency for cancer research and training. NCI is one of 11 agencies that make up the Department of Health and Human Services (HHS). Learn more at www.cancer.gov/about-nci.
Media contact Cassie Allen mPATH Head of Commercial Development (919) 675-4949 [email protected]
SOURCE mPATH Health
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VANCOUVER, BC, Oct. 21, 2024 – Top Down Ventures, the premier venture capital firm founded by industry visionary Chris Day, has announced the first close of its US$25M Founders Fund, designed to fuel early-stage SaaS companies within the Managed Service Provider (MSP) sector.
Building on its innovative venture studio model, Top Down empowers MSP software startups with not only capital but also unparalleled operational expertise and a proven scaling playbook. The firm’s General Partners – Chris Day, Joel Abramson and Mark Scott – boast a remarkable track record in the MSP space, including founding and scaling companies like Fully Managed (acquired by TELUS), IT Glue (acquired by Kaseya), N-able (NYSE: NABL), ScalePad, and Produce8. With prior investments in leading MSP software firms such as Backup Radar, Quoter, Control Map and most recently Benji Pays.
Focused Expertise in the MSP SaaS Space
“We are thrilled with this milestone, which reflects the confidence of MSP founders and executives who make up the majority of our Limited Partners,” said Joel Abramson, Managing Partner at Top Down. “Our deep sector focus and hands-on approach are already driving momentum as we anticipate closing three new SaaS investments in Q4.”
Top Down’s Founders Fund targets high-potential SaaS companies generating $1M+ in annual recurring revenue (ARR), with Seed or Series A investments up to $3M. With a carefully curated network of Limited Partners and Operating Advisors – including MSP veterans like Dan Wensley, Janice Siddons and Ryan Voegeli – the fund is uniquely positioned to amplify the success of its portfolio companies.
Driving Innovation in a Booming Industry
“We’ve been at the forefront of several firsts in the MSP industry, and this fund is the next one,” said Mark Scott, Managing Partner at Top Down. “Our capital, SaaS playbook, and venture studio combined with our global network, provide an unparalleled force multiplier for SaaS startups in an industry that’s on track to reach $1 trillion by 2030.”
Top Down not only offers financial backing but also leverages its deep operational experience to drive growth for its portfolio companies. The firm’s venture studio model includes expert guidance in product development, go-to-market strategies, and team building, ensuring that founders receive both strategic and tactical support.
To learn more, SaaS founders and LP investors can visit www.topdown.com and sign up for The Future of MSP Work, a thought leadership series exploring key trends and opportunities in the MSP sector.
About Top Down Ventures
Top Down is a leading venture capital firm specializing in early-stage Software-as-a-Service (SaaS) companies in the Managed Service Provider (MSP) market. The firm’s Founders Fund I focuses on SaaS companies with $1M+ ARR, offering Seed or Series A investments of up to $3M. With a venture studio model that combines operational support and scaling expertise, Top Down helps MSP software companies realize their full potential. For more information, visit www.topdown.com
SOURCE Top Down Ventures
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Co-led by 83North and True Global Ventures, the funding will accelerate the expansion of strategic partnerships and the launch of additional products.
NEW YORK, Oct. 21, 2024 — Obligo, the fintech company that builds trust between renters and landlords through its suite of flexible security deposit solutions, announced today that it has secured $35M in new funding. The investment comes as Obligo experiences a period of rapid growth, driven by recently announced partnerships with property management software companies AppFolio, Buildium, and Yardi.
“This investment is a testament to the market’s confidence in our machine learning technology, API-first distribution strategy and our vision for the future of renting,” said Roey Dor, CEO and Co-Founder of Obligo. “The value is clear: a recent survey showed that 55% of renters cited Obligo as a key factor in selecting their current home. With these additional resources and our recently announced property management software partnerships, we are uniquely positioned to become the top deposit solution for millions of U.S. homes.”
As part of this funding round, Obligo proudly welcomes Lilia Shirman, Partner at True Global Ventures, to its Board of Directors. “Obligo is a game-changer for leveraging machine learning and AI in real estate. The company’s growth and strategic channel partnerships are evidence of the tremendous value they deliver to renters and property managers alike.” said Shirman. “We are excited to partner with Obligo to catalyze its vision for creating unprecedented trust and flexibility in the residential rental market.”
Obligo harnesses financial technology to build trust between renters and landlords, making the move-in and move-out process as simple as checking in and out of a hotel. As the first security deposit alternative utilizing bank-issued Letters of Credit supported by Wells Fargo, Obligo uses Open Banking and AI to determine renters’ eligibility to rent deposit-free.
Founded in 2018 by brothers Roey Dor and Omri Dor, Obligo is bringing its industry-changing rental solutions to millions of homes across the United States.
About 83North
83North is a global venture capital firm. The firm invests across all stages, in exceptional entrepreneurs focusing on building global category leading companies. For more information visit www.83north.com and follow @83NorthVC on Twitter.
About True Global Ventures
True Global Ventures is a global venture capital firm with two actively deploying funds: TGV 4 Plus Fund (early stage) and TGV Opportunity Fund (late stage). The firm focuses on partnering closely with fast-growing, technology-driven businesses driving transformative change in business efficiency, financial services, sustainability, and other emerging sectors, and has a strong track record in enterprise AI and blockchain investments. For more information, visit www.tgvplus.com.
Media Contact Keegan St. Onge-May Obligo [email protected] 207-650-5071
SOURCE Obligo
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LEAD’s Locker Room is a Global Invite-Only Investment Fund Designed for Top-Tier Athletes and Business Leaders, Offering Access to Highly Exclusive Deal Flow and Investment Opportunities
BERLIN and LAKE NONA, Fla., Oct. 21, 2024 — LEAD, the global venture corporation shaping the future of sports and health, today announced that Harry Kane, Brooks Koepka, Brayden Schenn and other elite athletes are amongst the first to have joined its Locker Room fund. Founded by LEAD, Locker Room serves so-called athletepreneurs – professional athletes who are interested in entrepreneurial pursuits and business ventures – by presenting them with vetted opportunities to invest.
Locker Room takes the onus off of athletes by evaluating all investment opportunities which are funneled through its shareholders to LEAD’s team of experts. From global athletes to institutional experts, Locker Room’s ecosystem is designed to surface premium investment opportunities. The investment strategy spans across various industries and investment sizes, aiming to secure terms that are more advantageous than market standards. By leveraging the expertise and influence of their athletes, LEAD is able to enhance the commercialization of these opportunities.
“The name – Locker Room – is no accident. Locker rooms, home to teamwork and ingenuity, are synonymous with fierce competitors devising winning strategies. Sometimes, ideas are even formed in locker rooms. Our objective is to identify the most promising transactions from the vast ideas that are part of deal flow conversations. Within this Locker Room, we are presenting athletes with highly vetted opportunities from our networks that will enable them to see further off-field success and support others that are shaping the future of sports and health technology,” said Jon Voigtman, LEAD board member.
“In addition to proactively seeking investment opportunities, we are excited to rely on our Locker Room shareholders to bring in potential investments that we can evaluate. We can tell athletes whether a deal is too risky, how we evaluate the competition, what would prevent something from being successful, or what we could do to turbo-charge the success of a company,” said Brian Thompson, Fund CEO of Locker Room. ” Our Locker Room community, an ideal pairing of the world’s best athletes with the best investors in our space, is a one-of-a-kind opportunity for all involved.”
In constructing Locker Room, LEAD has sought athletes who want to be actively involved with startups and authentically contribute to them in an area of long-term growth. Kane, Koepka and Schenn are among the first athletes to join Locker Room, with notable athletes across golf, soccer, baseball and other sports to be announced later.
“Being a part of Locker Room is exciting because it is more than just an investment opportunity – it is about athletes coming together to learn and grow beyond our sports,” Harry Kane, England Men’s Soccer Captain and Bayern Munich striker, said. “I’ve always been interested in athlete performance , and I’m not the only athlete thinking this way. Locker Room not only gives us the platform to impact the sports industry, but it allows us to do so with business ventures that personally interest and excite me. It’s great to support companies that align with our values.”
“Locker Room is unlike anything I’ve been involved in before. It’s not just another investment opportunity – it’s a chance to actively grow companies I’m genuinely passionate about,” Brooks Koepka, LIV Golf star, said. “As an athlete, it’s empowering to invest in ventures that align with my personal interests and values. I am inspired by knowing that my insights can contribute to something bigger, and I’m thrilled to be part of this innovative approach to investing.”
“Locker Room is the latest powerhouse in LEAD’s family of funds, joining LEAD ONE (pre-seed), Lake Nona Fund (seed), and ADvantage (Series A),” said Christoph Sonnen, founder and CEO of LEAD. “Our mission is simple yet bold: unite experts and innovators to shape the future of sports and health tech. Locker Room plays a pivotal role in this vision, bridging the drive of athletepreneurs with the brilliance of entrepreneurs, offering not just financial backing but also game-changing strategic insights to revolutionize the industry.”
Comprised of the world’s top athletes, Locker Room is an eight-figure fund of more than 20 shareholders actively involved in a select investment community. Its portfolio includes Eastside Golf, the apparel brand that is driving change in making golf more inclusive and appealing to young people; TMRW Sports, a company focused on building technology-focused ventures that feature progressive approaches to sports, media, and entertainment, founded by Tiger Woods, Rory McIlroy and Mike McCarley. Locker Room is the newest of LEAD’s four funds, which also include LEAD ONE (pre-seed), Lake Nona Fund (seed) and ADvantage (Series A).
About LEAD: LEAD is a global venture corporation dedicated to enhancing lives through sports and health tech. Our family of funds delivers for entrepreneurs at every stage with capital, expertise, and strategic connections. Our advisory division helps corporations, consulting firms, sports properties, healthcare organizations and others bring their most innovative initiatives to life. While we work across different venture stages, industries, and areas of the world, on ideas for sports fans, athletes, and health-conscious consumers, everything we do has one thing in common: we aim to enhance lives, one idea at a time. Visit www.lead.vc for more.
SOURCE LEAD
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HOUSTON, Oct. 21, 2024 — Direct Digital Holdings, Inc. (Nasdaq: DRCT) (“Direct Digital Holdings” or the “Company”), a leading advertising and marketing technology platform operating through its companies Colossus Media, LLC (“Colossus SSP”), Orange142, LLC (“Orange 142”) and Huddled Masses LLC (“Huddled Masses”), today announced the Company has entered into a $20 million Equity Reserve Facility (“ERF”) with New Circle Principal Investments LLC, an affiliate of New Circle Capital LLC (“New Circle”).
Mark D. Walker, CEO and Co-Founder of Direct Digital Holdings, commented, “We are very pleased to announce this $20 million Equity Reserve Facility with New Circle. The funding will enable the expansion of our technology and strategic capabilities, benefiting both publishers and advertisers. It also opens the door to new growth opportunities and strengthens our commitment to increasing shareholder value.”
Under the agreement, at our sole election, New Circle will purchase, from time to time, shares of our Class A common stock up to an aggregate of $20 million over a period of 36 months, subject to the conditions in the agreement. The proceeds of these sales may be used for general corporate purposes. The Company anticipates using such proceeds to reduce debt obligations, strengthen the overall balance sheet, and drive key growth initiatives. Those key initiatives extend across Direct Digital Holdings’ subsidiaries, and include specifically:
Advancing Innovation for Colossus SSP The Company expects to make investments to drive technological advancements for Direct Digital Holdings’ supply-side platform (SSP), Colossus SSP, including the development of new segment-based products in carbon and attention. It will also support direct integrations with leading demand-side platforms (DSPs), optimizing supply path efficiency for advertisers. Additionally, the funding will expand Colossus SSP’s efforts to bring underrepresented publishers into the programmatic ecosystem, with their inventory available through the Company.
Enhancing Growth on the Demand Side On the demand-side, the Company expects that funding will support the unification of Direct Digital Holdings’ advertising consultancy groups, Orange142 and Huddled Masses. This will enable the delivery of new capabilities, particularly in helping clients navigate emerging technologies, such as artificial intelligence (AI) and machine learning (ML), as well as emerging channels such as connected TV (CTV), social media and retail media.
Keith Smith, President and Co-Founder of Direct Digital Holdings, added, “We are pleased to partner with New Circle on this flexible facility which we expect will enhance our financial liquidity, strengthen our shareholder equity and support a host of growth initiatives across both our supply-side and demand-side platforms.”
BJ Arnold, Managing Partner of New Circle, commented, “New Circle is pleased to partner with Direct Digital Holdings, helping to fuel the company’s growth and support their innovative technology and industry-leading approaches to advertising.”
The Company’s right to commence sales of Class A common stock to New Circle are subject to certain conditions, including that a registration statement covering the resale of such shares is declared effective by the SEC. Actual sales of shares of Class A common stock to New Circle under the agreement will depend on a variety of factors to be determined by the Company from time to time, including, among others, market conditions, the trading price of the Common Stock and determinations by the Company as to the appropriate sources of funding and the Company’s operations.
Further information on the financing can be found in the Current Report on Form 8-K filed today with the Securities and Exchange Commission.
Cautionary Note Regarding Forward Looking Statements This press release contains forward-looking statements within the meaning of federal securities laws that are subject to certain risks, trends and uncertainties. We use words such as “could,” “would,” “may,” “might,” “will,” “expect,” “likely,” “believe,” “continue,” “anticipate,” “estimate,” “intend,” “plan,” “project” and other similar expressions to identify forward-looking statements, but not all forward-looking statements include these words. All of our forward-looking statements involve estimates and uncertainties that could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Accordingly, any such statements are qualified in their entirety by reference to the information described under the caption “Risk Factors” and elsewhere in our most recent Annual Report on Form 10 K (the “Form 10-K”) and subsequent periodic and or current reports filed with the Securities and Exchange Commission (the “SEC”).
The forward-looking statements contained in this press release are based on assumptions that we have made in light of our industry experience and our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. As you read and consider this press release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (many of which are beyond our control) and assumptions.
Although we believe that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect our actual operating and financial performance and cause our performance to differ materially from the performance expressed in or implied by the forward-looking statements. We believe these factors include, but are not limited to, the following: the conditions to our ability to sell Class A common stock to New Circle, including the effectiveness of the registration statement registering the resale by New Circle of the shares of Class A common stock; the restrictions and covenants imposed upon us by our credit facilities; the substantial doubt about our ability to continue as a going concern, which may hinder our ability to obtain future financing; our ability to secure additional financing to meet our capital needs; our ineligibility to file short-form registration statements on Form S-3, which may impair our ability to raise capital; our failure to satisfy applicable listing standards of the Nasdaq Capital Market resulting in a potential delisting of our common stock; failure to remedy any listing deficiencies noted in the deficiency letters from the Listing Qualifications Department of The Nasdaq Stock Market LLC; the risk that the Listing Qualifications Department of The Nasdaq Stock Market LLC does not accept the Company’s plan to regain compliance with applicable rules to maintain its listing on The Nasdaq Capital Market; costs, risks and uncertainties related to the restatement of certain prior period financial statements; any significant fluctuations caused by our high customer concentration; risks related to non-payment by our clients; reputational and other harms caused by our failure to detect advertising fraud; operational and performance issues with our platform, whether real or perceived, including a failure to respond to technological changes or to upgrade our technology systems; restrictions on the use of third-party “cookies,” mobile device IDs or other tracking technologies, which could diminish our platform’s effectiveness; unfavorable publicity and negative public perception about our industry, particularly concerns regarding data privacy and security relating to our industry’s technology and practices, and any perceived failure to comply with laws and industry self-regulation; our failure to manage our growth effectively; the difficulty in identifying and integrating any future acquisitions or strategic investments; any changes or developments in legislative, judicial, regulatory or cultural environments related to information collection, use and processing; challenges related to our buy-side clients that are destination marketing organizations and that operate as public/private partnerships; any strain on our resources or diversion of our management’s attention as a result of being a public company; the intense competition of the digital advertising industry and our ability to effectively compete against current and future competitors; any significant inadvertent disclosure or breach of confidential and/or personal information we hold, or of the security of our or our customers’, suppliers’ or other partners’ computer systems; as a holding company, we depend on distributions from Direct Digital Holdings, LLC (“DDH LLC”) to pay our taxes, expenses (including payments under the Tax Receivable Agreement) and any amount of any dividends we may pay to the holders of our common stock; the fact that DDH LLC is controlled by DDM, whose interest may differ from those of our public stockholders; any failure by us to maintain or implement effective internal controls or to detect fraud; and other factors and assumptions discussed in our Form 10-K and subsequent periodic and current reports we may file with the SEC.
Should one or more of these risks or uncertainties materialize, or should any of these assumptions prove to be incorrect, our actual operating and financial performance may vary in material respects from the performance projected in these forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and except as required by law, we undertake no obligation to update any forward-looking statement contained in this press release to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. New factors that could cause our business not to develop as we expect emerge from time to time, and it is not possible for us to predict all of them. Further, we cannot assess the impact of each currently known or new factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
About Direct Digital Holdings Direct Digital Holdings (Nasdaq: DRCT), owner of operating companies Colossus SSP, Huddled Masses, and Orange 142, brings state-of-the-art sell- and buy-side advertising platforms together under one umbrella company. Direct Digital Holdings’ sell-side platform, Colossus SSP, offers advertisers of all sizes extensive reach within general market and multicultural media properties. The Company’s subsidiaries Huddled Masses and Orange142 deliver significant ROI for middle market advertisers by providing data-optimized programmatic solutions at scale for businesses in sectors that range from energy to healthcare to travel to financial services. Direct Digital Holdings’ sell- and buy-side solutions generate billions of impressions per month across display, CTV, in-app and other media channels.
NEW YORK, Oct. 18, 2024 — Turning Rock Partners (“TRP” or “Turning Rock”), a private investment firm based in New York, announced the realization of its $45 million investment in MedShift (the “Company”). The Company is a founder owned and led medical technology software provider based in Charlotte, NC. Turning Rock’s structured loan to the Company was fully realized through a full payoff of its obligations as the Company shifts to long term capital for growth.
“Turning Rock is pleased to announce that MedShift has accomplished a new round of institutional debt financing that will drive its growth for the future,” said Turning Rock Senior Managing Director Erin Andrew. “We were pleased to partner with the Company on its expanding equipment and technology investments. Its next phase of growth will be driven by its exceptional management team. Our model of providing transitional capital to growing founder led companies was demonstrated here.”
Turning Rock Partners targets debt, equity and hybrid investments in underserved or capital constrained lower-middle market businesses in North America. TRP structures bespoke financing solutions for companies across the private market landscape.
“We thank Turning Rock for its support which enabled us to expand our investments in technology and team to realize strong growth,” said MedShift CEO Joe Gasque.
Turning Rock’s structured loan to the Company was contributed in April of 2023 as part of a broader $108M financing round led by management and existing shareholders.
About Turning Rock Partners: Turning Rock Partners (TRP) targets debt, equity and hybrid investments in underserved or capital constrained lower-middle market businesses in North America. TRP structures bespoke financing solutions for companies across the private market landscape. For more information, please visit Turning Rock Partners’ website: www.turningrockpartners.com. For Turning Rock investor relations, please contact [email protected].
About MedShift:
Founded in 2015 and headquartered in Charlotte, NC, MedShift leads the healthcare sector with innovative SaaS solutions aimed at transforming medical manufacturing. At the core of MedShift’s success is its robust Software offerings, designed to empower the industry with cutting-edge tools for operational efficiency and growth. Through platforms like Velocity, a comprehensive SaaS solution, and Pulse IoT, a connected device ecosystem, MedShift leverages data and technology to enhance business performance and streamline workflows.
The omnipresent platform redefines how the $5.9T industry operates and manage stakeholders
VANCOUVER, BC, Oct. 18, 2024 — MyFO, the fastest growing platform for family offices and the wealth management professionals who service them, has announced the successful closing of its oversubscribed $3.5M Seed funding round, led by Rhino Ventures. The platform simplifies and organizes financial lives by creating a comprehensive family office platform that consolidates data, documents, and stakeholder management. The new injection of funds will be used to scale its operations to meet growing demand, enhance its product offerings, and expand its team.
The family office industry is growing at a substantial pace – according to recent reports, the number of family offices worldwide has surpassed 7,000, managing assets in excess of $5.9 trillion, with North America leading with over 1,682 family offices identified in the last year and yet it faces challenges due to outdated systems and fragmented technology. Predicted to generate revenues exceeding $54.7 billion by 2032, the demand for more efficient, integrated solutions is clear. However, traditional methods often result in high cost and inefficiencies, with annual expenses reaching up to $1 million.
MyFO is addressing these issues with a platform that’s designed to be extremely secure and user friendly. While many tech companies are joining the AI-hype, MyFO remains focused on its goal of thoughtful innovation. Although the platform uses the advanced technology for tasks such as data ingestion, its primary goal is to deliver a secure and intuitive solution tailored to the unique needs of family offices, particularly those with heightened concerns about privacy and data security.
“Our mission is to transform how family offices operate by providing them a platform that balances cutting-edge technology with a deep understanding of our clients’ needs,” said Simrang Kang, CEO and Co-Founder of MyFO. “We’ve seen firsthand the challenges faced by family offices using outdated systems, and our goal is to streamline their operations while ensuring their data remains secure as it is paramount to them.”
MyFO is the first tool to offer an omnipresent, end-to-end platform that integrates all aspects of family office management into one dashboard – designed to be both comprehensive and user-friendly. MyFO’s core features include an intuitive user interface, state-of-the-art analytics, scenario modeling tools, and benchmarking capabilities designed to support strategic decision-making.
“MyFO is redefining how family offices manage their most cumbersome tasks by providing a streamlined, efficient solution. With only 16% of family offices currently using a data aggregation tool, there is a clear gap in the market, highlighting both a lack of adequate solutions and significant dissatisfaction with existing options,” said Jay Rhind, Partner at Rhino Ventures. “In such a niche and specialized category, the experience and vision of the founding team are paramount. Jon and Simran bring invaluable insights from their deep experience in the family office industry, which positions them uniquely to build the control hub for family offices. As they continue to innovate and expand the platform, we believe MyFO is poised to become the go-to solution, offering an evolving suite of services that will unlock new opportunities for families, wealth managers, and investors alike.”
Traditional client onboarding can take up to 18 months, but with MyFO, it can be completed in just a few hours. The platform seamlessly integrates real-time data from over 20,000 sources—including banks, brokerages, and private equity. MyFO provides a holistic view of a client’s assets and enhances wealth management professionals’ ability to track assets, manage documents, and offer advice.
About MyFO
MyFO is the fastest growing platform for family offices and the wealth management professionals that service them. The omnipresent, end-to-end platform is integrated with over 20,000 financial institutions across North America. MyFO redefines wealth management with its precise and efficient tools that makes asset oversight easier and improves decision-making for discerning individuals. MyFO was co-founded by Simran Kang and Jon Ricci, industry veterans committed to transforming complex financial processes into effortless interactions. For more information on MyFO, please visit https://www.myfo.tech/.
Media Contact: Liang Zhao Vansary for MyFO [email protected] 505-720-6933
SOURCE MyFO
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AUSTIN, TX, Oct. 18, 2024 — LeasePoint Funding Group, LLC (“LeasePoint” or the “Company”) today announced that it has secured $40 million of incremental funding from Altriarch Asset Management (“Altriarch”). Westlake Securities, an Austin-based Investment Bank, was instrumental in orchestrating the capital raise, leveraging their deep industry expertise and strategic advisory to secure the necessary funding for LeasePoint’s continued trajectory. The facility will support LeasePoint’s rapid expansion in the equipment financing industry, providing essential capital to sustain its growth and meet increasing demand from device manufacturers and business owners seeking equipment capital solutions.
LeasePoint continues to grow exponentially, despite a difficult macroeconomic environment. Driven by its commitment to providing fast, efficient financing solutions to businesses across the U.S; LeasePoint’s exclusive software platform can underwrite, originate, and service transactions up to $300k, automatically. With the equipment financing market set to expand, LeasePoint recognized the need for additional capital to continue scaling its operations.
“We’ve made significant additions to our executive team in 2024 and continue to develop our proprietary origination platform,” said Jeff Markim, Founder & CEO of LeasePoint. “Demand for structured vendor finance programs with LeasePoint has never been higher. This strategic partnership with Altriarch will accelerate our continued growth and improve our overall capabilities.”
Danielle Brown, Managing Partner and Co-CEO of Altriarch, commented, “We’re thrilled to be a part of LeasePoint’s growth story. Their impressive pace and commitment to innovation in equipment financing align perfectly with our focus on empowering non-bank commercial lenders. This facility ensures that LeasePoint has the capital it needs to continue its rapid expansion.”
LeasePoint Funding Group is a leading fintech company dedicated to simplifying the equipment financing process businesses across the U.S. Based in Austin, Texas, LeasePoint combines local expertise with innovative technology, including a proprietary loan origination and servicing platform that features automated underwriting and same-day funding. LeasePoint’s mission is to provide business owners with fast, flexible capital solutions. For more information, visit www.leasepoint.com.
Altriarch provides non-bank commercial lenders across the nation with streamlined access to tailored lender financing solutions. The Company’s extensive operational background empowers lenders by alleviating capital constraints, enhancing borrower relationships, and facilitating business expansion within the competitive landscape. With meticulously structured facilities that align with the precise cash flow requirements of borrowers, Altriarch is the trusted partner for lenders seeking capital to fuel business expansion. To learn more, visit www.altriarch.com.
Westlake Securities is a leading lower-middle market investment bank based in Austin that provides a comprehensive suite of investment banking services to companies throughout the United States. The firm focuses on mergers and acquisitions, private placements, liquidity, liquidation, and restructuring advisory, management and growth consulting, and on-site and remote fractional and interim c-suite roles for a broad array of industries. To learn more about Westlake Securities, visit westlakesecurities.com.
If you would like more information about this, please contact:
Justin Vollmer, Director, Strategic Initiatives p 855.553.2735 | e [email protected]
SOURCE LeasePoint Funding Group
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U.S. Department of Energy’s Grid Resilience and Innovation Partnerships (GRIP) Program Supports GridUnity’s Efforts to Modernize the U.S. Transmission System
BOSTON, Oct. 18, 2024 — GridUnity, a leader in grid modernization solutions, is proud to announce that its Digital Integration for Grid Interconnection Tools, Analysis, and Logic (DIGITAL) project has been selected for the second round of funding through the U.S. Department of Energy’s Grid Resilience and Innovation Partnerships (GRIP) Program. This $10.5 billion federal initiative, created under the Bipartisan Infrastructure Law, aims to strengthen the nation’s power grid and improve resilience to extreme weather events. The DIGITAL project has been awarded $49.5 million in federal funding, with an equal recipient cost share commitment, for a total project investment of $99 million.
GridUnity’s DIGITAL Project Awarded $49.5 Million in Federal Funding to Accelerate Grid Interconnection
The DIGITAL project will modernize and streamline the grid interconnection process, significantly accelerating the approval and commissioning of new generation projects. By leveraging cloud-based technologies and innovative communication and process improvements, GridUnity’s solution will reduce the time that renewable energy projects spend in interconnection queues by more than a year, unlocking faster access to clean energy across the United States.
“As extreme weather events continue to stress electric systems across the country, the Biden-Harris Administration is using every tool in the toolbox to make sure America’s power grid can provide reliable, affordable power,” said Maria Robinson, Director, Grid Deployment Office, U.S. Department of Energy. “GridUnity’s project will notably accelerate the interconnection process, while also lowering costs and increasing energy reliability for customers.”
“Congratulations to GridUnity on this award,” said Massachusetts Governor Maura Healey, “In the face of recent hurricanes and other disasters made worse by our changing climate, Massachusetts’ thriving climatetech business sector is crucial for not only delivering jobs and economic benefits but also helping to accelerate our transition to a future clean power grid. GridUnity’s DIGITAL innovative project promises to speed up the integration of new wind, solar, and battery resources from California to Massachusetts, enabling the delivery of reliable, safe, and clean electricity to our communities.”
“Interconnection delays are one of the most significant roadblocks to getting more renewable energy resources onto the grid. Projects take, on average, 30 months to make it through the queue right now. We will compress that timeframe to 18 months initially, with the goal of a 12-month process through further efficiencies over time,” said GridUnity CEO Brian Fitzsimons. “Getting renewable resources onto the grid more quickly will vastly improve our ability to provide clean, reliable power to all Americans.”
**Key Features of the DIGITAL Project:**
**Cloud-Based Centralized Software**: DIGITAL will replace fragmented communication and outdated technologies used by regional transmission organizations (RTOs) and transmission owners with a centralized platform, improving communication, collaboration, and adaptability.
**DIGITAL Grid Analytics Learning Engine (GALE)**: The project introduces GALE, an AI-powered tool that enhances cost estimation accuracy, providing transparent and timely analyses to support faster project approvals.
**Nationwide Impact**: By the fifth year, DIGITAL is expected to directly affect 70% of the U.S. population—around 210 million people—by optimizing transmission grid efficiency, enhancing energy reliability, and reducing consumer energy costs.
**Job Creation**: Over the five-year term, DIGITAL will create 62 high-tech jobs and 6-8 community engagement roles, while expediting the creation of over 51,000 skilled worker positions in the clean energy sector.
**Inclusive Development**: The project emphasizes community engagement, ensuring that the benefits of clean energy are accessible and equitable for all. Feedback from local communities will be integrated into infrastructure development to support a transparent and inclusive process.
**A Collaborative Effort**
The DIGITAL project will be executed in collaboration with multiple stakeholders and the software platform’s data will help inform the International Brotherhood of Electrical Workers (IBEW) in their efforts to develop and upgrade our transmission and distribution grids across North America.
As part of the GRIP Program’s Smart Grid Grants, this initiative will help modernize the transmission grid, improve resilience against climate threats, and ensure affordable and reliable electricity is available for American communities when and where they need it.
The mission of the Grid Deployment Office (GDO) is to catalyze the development of new and upgraded electric infrastructure across the country by maintaining and investing in critical generation facilities; developing and upgrading high-capacity electric transmission lines nationwide; and deploying transmission and distribution technologies. Learn more at energy.gov/gdo.
About GridUnity GridUnity® is a pioneer in interconnection life cycle management and advanced energy analytics solutions for transmission and distribution. The company is leading the global shift toward highly reliable and responsive renewable and distributed energy resources. GridUnity is the only solution that fulfills FERC Order 2023 with a complete end-to-end digital interconnection process enabling Independent system operators, transmission providers, transmission owners and generation developers to collaborate in real-time throughout the projects’ application review, study and construction processes which fundamentally changes how the parties can address the country’s energy growth needs. Clients include North American investor-owned utilities and independent system operators serving 37 U.S. states and 50% of the U.S. population. For more information, please visit gridunity.com and for the latest news, follow GridUnity on LinkedIn.
**Press Contact:** Helen Fairman VP of Marketing, GridUnity Phone: 617-910-6585 Email: [email protected]
SOURCE GridUnity
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