“We are honored to be included in this list of notable firms. Our team is dedicated to investing in founders and brands that drive change and innovation,” said Samyr Laine, Managing Partner and GP of Freedom Trail Capital. “This award reinforces our mission to democratize access to venture capital and champion the next generation of trail-blazing, transformative consumer brands.”
For more information about Freedom Trail Capital and their portfolio of brand partners, please visit Samyr Laine and Freedom Trail Capital on LinkedIn: https://www.linkedin.com/in/samyrlaine/
– Led by the Berman Family, the Strategic Investments Span Current and Former Professional Athletes, Cultural Icons, and Business Leaders, Including Giannis Antetokounmpo, Linda Henry, Avenue Sports Fund and Marc Lasry, Michael Phelps, Dawn Staley and JuJu Watkins –
MIAMI, Dec. 16, 2024 — Today, professional women’s basketball league Unrivaled announced the closure of its oversubscribed Series A investment round led by the Berman Family, securing $28 million in funding. This round includes investments from: 8-time NBA All-Star and NBA Champion Giannis Antetokounmpo and Build Your Legacy Ventures; Co-Owner/CEO of Boston Globe Media and Partner at Fenway Sports Group Linda Henry; Avenue Sports Fund and Marc Lasry; 23-Time Gold Medalist, World Champion, and Mental Health Advocate Michael Phelps and Nicole Phelps, President of Michael Phelps Foundation and Mental Health Advocate; 3-time NCAA Champion Head Coach for South Carolina Women’s Basketball Dawn Staley; Warner Bros. Discovery; Sophomore Guard at USCJuJu Watkins, among others.
Many of the industry titans and all-star group of investors that led its $7 million seed round contributed to Series A funding with additional leading institutional investors, sports icons, and business leaders. Both the seed and Series A rounds totaled $35 million for the new professional women’s basketball league ahead of its inaugural season. Accelerate Sports served as Unrivaled’s investment bank for the capital raise.
“As women’s sports continue to surge in popularity and impact, we’re inspired by the growing momentum around Unrivaled and grateful for the strong support from our investors,” said Unrivaled President Alex Bazzell. “Our players haven’t even taken the court yet and the foundation we are building with our partners unites unparalleled expertise, strategic insight, and an incredible product. Together, we’re setting the stage for Unrivaled for years to come.”
Unrivaled’s Series A Round also includes investment from:
Amy Banse: Venture Partner, Mosaic, Board Member and Investor, and retired Comcast Corp Executive
Black Economic Alliance Venture Fund
Threadneedle Ventures
Off-Court Ventures
Richard ‘Rip’ Hamilton: Former NBA All-Star and Champion with the Detroit Pistons
Joe Ingles: 11-year NBA veteran and 5-time Olympian for the Australian Men’s National Team
“Based on Avenue Sports’ deep understanding of basketball globally, we believe Unrivaled is well-positioned to thrive in the larger sports ecosystem and we’re proud to back this exciting new league,” said Marc Lasry, Avenue Capital’s Chairman, CEO and Co-Founder. “Unrivaled is setting the standard through their innovative business model at a pivotal time in the growth trajectory of women’s sports.”
Unrivaled was first announced in 2023 by co-founders Napheesa Collier and Breanna Stewart. In May 2024, the League announced an oversubscribed seed round with a star-powered group of investors, many of whom have committed additional investment into this round, including Alex Morganand Trybe Ventures, Dan Benton, Carmelo Anthony, Geno Auriemma, Moira Forbes, Tyus & Tre Jones, Ashton Kutcher, Dan Rosensweig, John Skipper, Richard Sarnoffand Gary Vaynerchuk.
A league owned by players, every Unrivaled athlete participating in the inaugural season has equity and a vested interest in its success. In November, the League announced its six club rosters and full 2025 schedule. Unrivaled will tip off on January 17, 2025 on TNT Sports, with exclusive live game coverage on TNT and truTV, and all games streamed on Max. Follow unrivaled.basketball and @UnrivaledBasketball for full list of athletes, news and announcements.
About Unrivaled: Unrivaled is a professional women’s basketball league innovating the women’s professional sports landscape with a groundbreaking model centered on investing in its athletes. Co-Founded by Breanna Stewart and Napheesa Collier, Unrivaled is player-owned, providing participating players equity opportunities for a vested interest in the league’s success. Launching in January 2025, Unrivaled will feature the current top women’s basketball stars in the world across six teams for a 3-on-3, compressed full court style of play. To learn more, visit unrivaled.basketball or contact [email protected].
HISINGS BACKA, Sweden, Dec. 16, 2024 — Drifter World has successfully secured SEK 36 million in our latest funding round, led by Imperia Fastigheter, owned by Niclas Ericsson. Knutsson Holdings and Per-Olof Andersson also increased their stakes. This investment marks a significant step in Drifter World’s journey, providing the resources needed to accelerate growth and support our continued expansion.
Following this, we are introducing a leadership transition in which co-founder Michael Persson, who has been instrumental in securing funding and driving the company’s strategic direction since its inception, will step down as Chairman. He will continue to contribute as a major shareholder and advisor. Billy Jörgensen will assume the role of Chairman, bringing expertise in commercial law, compliance with international regulatory frameworks, intellectual property, and technology law. With his proven track record in governance and leadership, Billy is well-equipped to strengthen Drifter World’s strategic focus and drive future growth.
The future is here – Imperia Fastigheter enables the national launch of Drifter’s digital AI-based parking system. This investment and leadership transition mark a milestone. Built on the efforts Michael helped drive and strengthened by Billy’s expertise, Drifter is in a strong position, Niclas reflected.
Michael commented: “Drifter is now ready for its next exciting chapter. The foundation is there, the path is clear and the sails are set. I will stay close.”
Billy stated: “I am honored to take on the role of Chairman at this pivotal moment for Drifter World. Michael’s exceptional expertise and strategic guidance have laid a strong foundation, and his continued involvement as an advisor will be invaluable for future initiatives. Drifter World is at the forefront of transforming the parking industry, and I am excited to collaborate with Fredrik and the team to drive innovation and sustainable growth.”
“This strategic investment marks a pivotal moment for Drifter World as we gear up for our next phase of growth. With a strengthened financial position and a renewed leadership structure, we are well-positioned to focus on the Nordic market while remaining ready to expand internationally in the future,” CEO Fredrik Durling added.
Building on this investment and momentum, Drifter World’s valued partnerships with Tele2, Axis, Monta, and Easypark will evolve further, enhancing our innovative solutions and shaping the future of smart parking.
Drifter World transforms parking management with AI, smart sensors, and advanced technology. Our ecosystem streamlines payments, detects violations, optimizes spaces, and provides real-time data. Prioritizing simplicity and accessibility, we create value for parking lot owners and drivers alike.
CHELMSFORD, Mass., Dec. 16, 2024 — Triton Anchor is pleased to announce a series of significant milestones that strengthen the company’s position in the offshore renewable energy sector:
Successful completion of $2.2M Seed financing with a $1M cornerstone investment co-led by a Scottish-based family office with strong offshore energy connections;
Selection for $3.5M in new non-dilutive grant funding that drives its market entry and accelerates key growth initiatives;
Launch of Triton Anchor Europe (TAE) subsidiary, based in Scotland; and
Appointment of an industry veteran with executive experience at a global leader in offshore wind to lead TAE.
These achievements demonstrate Triton Anchor’s dedication to innovation in offshore anchoring systems and mark a pivotal step in the company’s global expansion. With the establishment of Triton Anchor Europe, the company is uniquely positioned to address the growing demand for sustainable solutions in the offshore wind market, reinforcing its commitment to advancing the renewable energy transition worldwide.
Strategic Investment and Partnerships
The Seed round was co-led by MWNW Consulting Group, a distinguished organization celebrating 40 years of expertise in offshore construction and seabed intervention. Their involvement supports the establishment of Triton Anchor Europe (TAE) and reinforces Triton Anchor’s commitment to delivering sustainable solutions in offshore wind energy. TAE specializes in developing high-uplift-capacity anchoring systems uniquely designed for the offshore wind sector, with applications across all offshore industries. The Seed round was also supported by OS Impact Investment, Katapult Deep Ocean Blue Fund, the Massachusetts Clean Energy Center (MassCEC), and Triton Early Growth Fund.
TAE will be led by an energy industry veteran in Scotland with over a decade of experience at one of the global leaders in offshore wind energy. The company plans to formally announce this appointment in early Q1 2025. “We are excited about this addition to our leadership team, as the executive’s expertise, paired with Triton Anchor’s innovative technology, positions us to make a significant impact in the offshore energy sector.” said Mike Wilson, founder of MWNW Consulting Group. “This investment reflects our belief in Triton Anchor’s vision and technology. This new leadership will drive Triton Anchor Europe to deliver tailored solutions that meet the complex demands of the offshore wind market.”
From new leadership, “I’m delighted to continue my journey in the offshore renewable energy sector as the new leader of TAE. I’m very privileged to join such an experienced team with a proven track record of end-to-end delivery and value creation. I truly believe this market disrupting technology will prove beneficial to lowering the cost of energy, creating local supply chains, and ultimately building a more sustainable future for all. I look forward to realizing these goals for TAE and its shareholders.”
MWNW & Rivtide
MWNW’s investment aligns with its proven history of building and exiting successful ventures, including Ecosse Subsea Systems, which was acquired in 2018. MWNW’s involvement adds valuable strategic and operational expertise to Triton Anchor’s European expansion.
“Scotland has long been a recognized leader in the offshore energy sector and is now the leading epicenter of offshore wind for Europe and indeed the world. Having a presence in Scotland, a partnership with MWNW, and leadership of TAE by an industry veteran, propels TAE to the forefront, as a solution provider in the rapidly growing offshore wind market and positively impacts the company’s presence in Europe and ROW markets, where we have a pipeline of project opportunities.” said Ross Haghighat, Managing Partner of Triton’s early growth fund, co-leading the seed investment round.
Through its strategic partnership with MWNW Consulting Group, Triton Anchor gains access to extensive expertise in offshore construction and renewable energy innovation. This partnership also opens avenues for collaboration with RivTide, a pioneering company specializing in low-speed, high-flow tidal and river power generation. The technical synergies and common customer base between Triton Anchor and RivTide present unique opportunities to drive mutual growth, accelerate clean energy adoption, and enhance revenue potential. By leveraging MWNW’s proven track record of building and exiting successful ventures, Triton Anchor is well-positioned to deliver impactful solutions in the European offshore wind market and beyond.
Expanding Into Europe
Europe is a global leader in the offshore wind market, and the establishment of Triton Anchor Europe reflects Triton Anchor’s strategic focus on this critical region. With a robust $1.5 billion pipeline of global projects, including anchor installations planned for Scotland, Holland, and Portugal, Triton Anchor is poised to address significant market opportunities. By establishing operations in Aberdeen and Edinburgh, the company gains access to Europe’s advanced offshore wind infrastructure, a highly skilled workforce, and regulatory incentives that support renewable energy innovation. This local presence strengthens Triton Anchor’s ability to deliver innovative solutions to European developers and positions the company as a trusted partner in the rapidly growing offshore market. Key stakeholders include Scottish Economic Development and European Union groups.
Positioning for Global Growth
Triton Anchor’s advanced anchoring systems are pivotal for supporting the renewable energy transition, offering scalable, sustainable solutions for offshore wind projects worldwide. By establishing a robust presence in Europe, the company is well-positioned to lead in the global offshore energy market. By combining cutting-edge technology with strategic partnerships, the company is positioned to address the increasing global demand for sustainable offshore solutions. The establishment of TAE serves as a launchpad for expanding the company’s presence in key international markets.
About Triton Anchor
Triton Anchor is a leader in offshore anchoring systems, providing innovative solutions for the renewable energy sector. With a strong focus on sustainability and global growth, the company is dedicated to empowering the transition to clean energy through cutting-edge technology and strategic partnerships.
PHOENIX, Dec. 16, 2024 — Trinity Capital Inc. (NASDAQ: TRIN) (“Trinity”), a leading provider of diversified financial solutions to growth-oriented companies, today announced the commitment of $50 million in equipment financing to Form Energy, an American technology company developing and commercializing a new class of cost-effective, multi-day energy storage systems.
Form Energy aims to reform the global electricity system through the development of innovative, low-cost multi-day energy storage solutions. The company is pioneering an iron-air battery capable of storing electricity for 100 hours at system costs competitive with legacy power plants. Founded in 2017 by a group of energy storage experts, Form Energy aims to enhance the reliability and sustainability of energy systems.
“Form Energy’s groundbreaking iron-air battery technology has the potential to redefine the future of energy storage,” said Cory Cramer, Director, Equipment Finance at Trinity. “We’re excited to partner with the company as they scale their operations and accelerate the pathway to a clean and reliable electric grid.”
This financing comes on the heels of Form Energy’s $455 million Series F fundraise led by T. Rowe Price. The equipment financing will be used to finance capital equipment for the company’s first high volume battery manufacturing facility located in Weirton, West Virginia.
“We are thrilled to have Trinity’s support as we grow our business and increase manufacturing capacity to meet the growing demand for our multi-day energy storage system,” said Charlotte Beard, CFO of Form Energy.
About Trinity Capital Inc.
Trinity Capital Inc. (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity Capital’s investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans and equipment financings and equity-related investments. Trinity Capital believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience and track record in lending to growth stage companies. For more information, please visit the Company’s website at www.trinitycap.com.
About Form Energy
Form Energy is an American technology company developing and commercializing a new class of cost-effective, multi-day energy storage systems. Form Energy’s first announced commercial product is a rechargeable iron-air battery capable of delivering electricity for 100 hours at system costs competitive with conventional power plants. Made from iron, one of the safest, cheapest, and most abundant minerals on Earth, this front-of-the-meter battery can be used continuously over a multi-day period and will enable a reliable and secure grid year-round. Learn more: Form Energy and LinkedIn.
Company unveils breakthrough platform that integrates epiproteomics and AI to identify predictive biomarkers for personalized treatments and support drug development
TEL AVIV, Israel, Dec. 16, 2024 — Promise Bio, a startup transforming immune-mediated disease treatment with advanced precision medicine solutions, today announced its emergence from stealth with an $8.3 million seed investment. This funding will accelerate the development of Promise Bio’s computational platform, which uses epiproteomics and artificial intelligence to predict patient treatment responses and support drug research and development.
“Current biological treatments for autoimmune diseases don’t work in all patients, with only 30-40% of patients achieving significant remission. At Promise Bio, our mission is to eliminate the trial-and-error approach by introducing tools for data-driven decisions,” saidRonel Veksler, Co-founder & CEO of Promise Bio. “The key to addressing this challenge lies in focusing on the right biological data—proteins, the building blocks of our body. It’s not just about protein levels but understanding the changes they undergo after formation. The PROMISE (Protein Modification Integrated Search Engine) platform does exactly that, enabling us to get closer to bringing precision medicine to diseases that currently lack effective tools.”
Promise Bio’s innovative platform is rooted in years of foundational research conducted by Dr. Assaf Kacen, Co-Founder & CTO of Promise Bio, in the lab of Prof. Yifat Merbl, Scientific Co-Founder of the company, at the Weizmann Institute of Science. The groundbreaking research into protein modifications and immune response, featured in Nature Biotechnology in 2023, laid the foundation for developing Promise Bio’s computational platform. Dr. Kacen built on this research to create a system that enables broad-scale profiling of dozens of post-translational modifications (PTMs) from mass-spectrometry data without needing customized chemical enrichment or additional lab procedures.
“Determining the change in the protein level or relying on just blood count caused by a complex immune response is like looking at a black-and-white TV screen with poor resolution,” said Dr. Assaf Kacen, Co-Founder & CTO of Promise Bio. “Our platform extracts modifications that occur to the proteins resulting from the disease; those specific changes inform us about aberrations in protein function or regulation. Interpreting it with machine learning approaches is like watching a colored TV with an unparalleled high-resolution view of the underlying biology.”
The $8.3 million seed investment, led by Awz Ventures, and with funding via AION Lab’s venture seeding track from AstraZeneca and Pfizer, provides Promise Bio with crucial financial backing to accelerate the development of its platform. This funding, along a grant from the Israel Innovation Authority, strengthens the company’s ability to scale its cutting-edge technology and expand its research capabilities.
The strategic partnerships with the two leading biopharmaceutical companies offer more than just financial support—they bring invaluable industry expertise, access to global networks, and collaboration opportunities to integrate Promise Bio’s platform into drug development pipelines. Together, these resources position the company to rapidly advance precision medicine solutions for immune-mediated diseases while building the world’s largest PTM database, a vital resource for future medical breakthroughs.
“At AION Labs, we are committed to fostering innovation that can reshape healthcare,” said Mati Gill, CEO of AION Labs. “Promise Bio’s integration of epiproteomics and AI holds immense promise for transforming treatment approaches in immune-mediated diseases. This first AION seeding track investment aligns with our mission to support breakthrough computational and AI science in our field, and we’re excited to be part of this journey toward impactful change for patients worldwide.”
“Awz is honored to support Promise Bio’s transformative approach to addressing immune-mediated diseases,” said Yaron Ashkenazi, Founder & Managing Partner of Awz, a global investment firm focused on multi-use innovations across deep-tech, medtech, and more. “Awz has deep confidence in Promise Bio’s visionary leadership and distinctive strategy, which we believe are poised to set new standards in the field. Our investment reflects our commitment to backing this transformative team with the potential to advance personalized medicine and make a lasting impact on patient outcomes.”
Through the Awz X-Seed Hub in Tel Aviv, Awz’s Active Capital strategy provides Promise Bio with multi-stage investment, hands-on mentorship, strategic partnerships, and preparation for future funding rounds, including the unique joint investment from leading pharmaceutical companies via AION Labs.
About PromiseBio
Promise Bio is a pioneering precision medicine company focused on transforming the management of immune-mediated diseases through epiproteomics and artificial intelligence. Built on groundbreaking research from the Weizmann Institute of Science, Promise Bio analyzes proteins and their post-translational modifications (PTMs) with exceptional precision. This proprietary technology allows for large-scale PTM profiling, helping researchers uncover disease mechanisms, tailor therapies, and discover new drug targets. For more information, visit www.promise.bio.
$SYMM Token to Launch on Base Network, Revolutionizing Decentralized Derivatives
SINGAPORE, Dec. 12, 2024 — Symmio, a decentralized derivatives protocol with over $8B in trading volume, has raised $3.1M in funding, including $2.1M in new investments from top-tier investors including Spartan Group, Orbs, MCLB and Blockchain Founders Fund as well as previous investments by @AgentChud (Messi), MS2 Capital, Gametheorizing (Selini Capital), GMoney & Prime Ventures. The funding comes as Symmio gears up for its Token Generation Event (TGE) on December 16, 2024, introducing the $SYMM token on the Base network. Initial liquidity will be provided via SYMM/ETH pairs on Aerodrome Finance.
Simplifying Decentralized Derivatives
Symmio addresses DeFi‘s liquidity and fragmentation issues through its intent-centric clearing layer. This infrastructure enables users to create synthetic derivatives markets with minimal barriers.
Derivatives-as-a-Service (DaaS): Symmio offers an industry-first solution that allows exchanges to launch decentralized derivatives trading platforms within days. Symmio empowers partners to focus on user acquisition and community growth by managing liquidity onboarding.
Symmio provides $200M in open interest and 600+ trading pairs across networks like Arbitrum, Base, BSC, and Mantle, with non-EVM chains coming soon. MarketMakers can permissionlessly create new markets such as Forex, Commodities, and Memes, while Front-End partners focus on expanding user engagement.
Elite Investor Support
“Symmio is not just advancing DeFi—it’s setting new standards in decentralized derivatives,” said Aly Madhavji, Managing Partner at Blockchain Founders Fund. “Their innovative AMFQ technology and scalable multichain infrastructure are reshaping what’s possible in on-chain trading. We’re excited to support their journey toward transforming the future of decentralized finance.”
Symmio’s approach surpasses traditional on-chain orderbook systems like DyDx, which cap at 200K TPS. Instead, Symmio employs a topological, intent-based system with off-chain orderbooks maintained by Solvers, enabling massive parallel order matching before on-chain finalization.
“Symmio’s technology is a game-changer for derivatives trading,” said Jack Knutson, Head of BD at Symmio. “By eliminating intermediaries, we deliver scalability without compromising decentralization or trustlessness.”
Driving Change in DeFi
Unlike protocols that rely on on-chain orderbooks—such as DyDx or Hyperliquid, which can reach a maximum of 10,000 TPS when decentralized or 200,000 TPS with co-location—Symmio aims far higher. Its vision includes onboarding billions of users and accommodating TradFi institutions requiring millions of messages per second, a scale on-chain order matching will most likely never be able to handle.
To achieve this, Symmio developed a topological, intent-based system. Multiple Solvers maintain off-chain orderbooks, enabling parallel order matching at an immense scale before finalizing trades on-chain. Inspired by Ethereum‘s L2 “endgame” scaling roadmap, Symmio’s approach has been in research & development since 2021.
“Symmio’s intent-centric, sharded order matching technology will represent a fundamental shift in how derivatives are traded on-chain,” said Jack Knutson, Head of BD at Symmio. “We eliminate traditional intermediaries while maintaining full decentralization and trustlessness.”
Symmio’s TGE on December 16, 2024, marks a significant step forward in creating a decentralized future for derivatives trading.
Symmio is an intent-centric clearing layer for derivatives, enabling seamless and permissionless exposure to established and emerging assets. Our infrastructure allows founders to launch decentralized derivatives exchanges in days, allowing them to focus on user growth while we manage liquidity onboarding.
With Peer2Peer clearing, liquidity providers can offer synthetic leveraged exposure to any asset, enhancing market accessibility. Currently live on four blockchain networks and supporting five decentralized exchanges, Symmio drives innovation in DeFi by delivering top-tier solutions for the next generation of financial products.
SOURCE Symmio
WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?
RADNOR, Pa., Dec. 12, 2024 — In a strategic move to support innovation and growth in the agricultural supply chain sector, Hidden River Strategic Capital (“Hidden River”) has announced its investment in Seedbox Solution (“Seedbox” or the “Company”), a full-service provider of reusable packaging and fleet management solutions to the seed industry. Hidden River’s investment, in partnership with Granite Creek Capital Partners and Everside Capital Partners, supported the management-led buyout of the Company’s previous majority shareholder, while making available significant growth capital.
Seedbox was founded with the goal of making bulk, reusable seed boxes simpler, easier, and more affordable. The Company distributes its boxes globally while supporting seed producers locally with servicing operations throughout the Midwest. With its largest facilities in Good Hope, IL, and Shenandoah, IA, Seedbox is positioned to deeply integrate with its customers’ supply chains. Co-founder and CEO Matt Dannenfeldt will continue to lead the business, along with the rest of the existing Seedbox management team.
“We are thrilled to support the Seedbox management team as they continue to drive efficiency and innovation throughout the seed industry supply chain,” said Todd Morrissey, Co-Founder and Partner at Hidden River. “This transaction aligns perfectly with our investment strategy of providing flexible structured capital to strong businesses led by exceptional management teams. We see significant potential in Seedbox’s capacity to innovate and streamline supply chain logistics within the agricultural sector.”
“The investment from Hidden River positions us to invest in a variety of growth initiatives to better serve our customers, including expanding our seed box wash and repair business and growing our unified box rental/service,” said Matt Dannenfeldt, Seedbox’s Co-Founder and CEO. “We will also be able to expedite the introduction of cutting edge ‘smart box’ technology, allowing our customers to monitor seed product location, health, and status in real-time through the supply chain.”
About Hidden River Strategic Capital: Hidden River Strategic Capital invests $7.5 million to $25 million into U.S.-based businesses typically generating at least $10 million of revenues and $2 million of EBITDA. Hidden River provides structured capital through flexible, customized, and partnership-oriented debt and equity to support these management-owned businesses through their growth needs and strategic initiatives. The Fund invests in a variety of industries with a strong preference for unique, repeatable, and durable business models. For more information, please visit www.hiddenrivercap.com.
About Seedbox Solution: Headquartered in Gurnee, IL, with operating sites in Good Hope, IL and Shenandoah, IA, Seedbox is a full-service provider of reusable packaging and fleet management solutions to the row crop seed industry with a focus on plastic seed boxes. With over 75 years of combined expertise in reusable packaging systems, Seedbox is focused on providing products and services that make using bulk plastic seed boxes simpler, easier, and more affordable. For more information, please visit www.seedboxsolution.com.
For media inquiries, please contact:
Graham Bachman
Managing Director, Head of Business Development Hidden River Strategic Capital Email: [email protected] Phone: 484-453-3134
SOURCE Hidden River Strategic Capital
WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?
Evinced’s software-based, prevention-first approach to accessibility is adopted by even more Global 500 corporations
PALO ALTO, Calif., Dec. 12, 2024 — Evinced, the leading software company powering accessible web and mobile development, today announced it has raised $55 million in Series C funding, bringing its total funding to-date to $112 million. The round was led by existing investor Insight Partners, a global software investor, with participation from existing investors M12 (Microsoft’s venture fund), BGV, Capital One Ventures, and Engineering Capital. Evinced also welcomed a new investor, Vertex Ventures.
As regulatory pressures increase and the importance of digital accessibility is understood, companies are finding that the best way to ensure digital accessibility is to build it into every step of the development life cycle. Evinced’s broad portfolio of tools for designers, developers, QA engineers and managers make that possible, with best-in-class defect detection, fix suggestions, and ease of use. Evinced is a pioneer in AI-based approaches that enable detection of problems that used to require purely manual approaches, and in generative AI accessibility solutions that are reliable and scalable across the enterprise.
This latest round of funding will accelerate Evinced’s mission through strategic investments in four key areas:
Expanding the company’s European presence and customer base
Growing its global sales and customer success teams
Enhancing R&D capabilities in generative AI solutions
Developing new products and services to meet evolving market needs.
“This funding round is a clear indication that digital accessibility is now a business imperative, not just an option,” said Navin Thadani, CEO and founder of Evinced. “The continued support from our existing investors and the addition of Vertex Ventures reflects their belief in our ability to address accessibility challenges at scale. As we expand into Europe, which faces even more regulatory pressure, we’re also investing in accelerating our development of generative AI capabilities that complement our core mission of empowering developers to build inclusive digital experiences from the start.”
Evinced’s rapid adoption since 2021 means its software is now trusted by some of the world’s leading companies, including financial institutions with collectively $26 trillion of assets, five of the ten largest media companies in the US and UK, three of the five largest B2B SaaS companies in the US, three of the 10 largest healthcare companies in the US, and two of the five largest retailers in the US.
“We’re excited to deepen our partnership with Evinced through this new investment,” said Michael Yamnitsky, Managing Director at Insight Partners. “Evinced brings an AI-driven platform approach to accessibility management, replacing expensive and tedious manual audits and ad-hoc solutions. We couldn’t be more thrilled to support them on their mission to embed accessibility into the software development lifecycle.”
Evinced expects its dramatic growth to continue, as more companies run into the headaches that legacy approaches to accessibility present, as US courts continue to interpret the ADA in light of digital properties, and as European companies are required by statute to become accessible by the end of June 2025.
To learn more about Evinced’s products, please visit:www.evinced.com
About Evinced Since launching in 2021, Evinced is the leading software for integrating accessibility into web and mobile development at the world’s largest, most accessibility-committed companies. Evinced’s powerful suite of tools enable developers and accessibility professionals to automatically find, cluster, and track accessibility issues, reduce reliance on manual processes, minimize risk, and speed up their time to market. Evinced is headquartered in California, with offices across the US, Europe, and Israel, and is backed by leading investors like Insight Partners, M12 (Microsoft’s venture arm), BGV, Capital One Ventures, Vertex Ventures, and others.
About Insight Partners Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2024, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.
SOURCE Evinced
WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?
