— Series B led by Goldman Sachs Alternatives with participation from Fidelity Management & Research Company, Deep Track Capital, and existing investors —
— Funding will advance second-generation anti-kallikrein 5/7+IL-13 bispecific (TRIV-573) through clinical proof-of-concept —
— Lead antibody program TRIV-509 IND submission on track for 1Q 2025 —
WATERTOWN, Mass., Oct. 2, 2024 — Triveni Bio Inc., a biotech company advancing novel antibody treatments for I&I disorders, today announced a $115 million Series B to support pipeline expansion. The round was led by Goldman Sachs Alternatives with significant participation from additional new investors Fidelity Management & Research Company and Deep Track Capital, and Series A investors Atlas Venture, Cormorant Asset Management, OrbiMed, Viking Global Investors, and Invus.
“We have built a differentiated pipeline of novel drug targets,” said Vishal Patel, Ph.D., Chief Executive Officer of Triveni Bio. “The Series B accelerates our pipeline expansion, particularly for our bispecific program, TRIV-573, which uniquely combines two orthogonal mechanisms of action.”
The Series B financing follows a $92 millionSeries A completed less than a year ago. In addition to pipeline advancement, Triveni is expanding its data science platform with a focus on precision dermatology and strengthening its leadership team – most recently with the appointment of Bhaskar Srivastava, M.D., Ph.D., as Chief Medical Officer.
“We have been impressed with the team’s progress towards becoming a clinical stage organization for I&I disorders where standard of care is lacking,” said Josh Richardson M.D., Managing Director within Goldman Sachs Alternatives. “We look forward to supporting both programs through clinical proof-of-concept and beyond.”
Triveni plans to submit an Investigational New Drug (IND) application for its lead candidate, TRIV-509, in the first quarter of 2025. TRIV-509 is a monoclonal antibody inhibitor targeting kallikreins 5 and 7 (KLK 5/7) that has demonstrated superior efficacy compared to IL-4R inhibition in multiple preclinical atopic dermatitis models. TRIV-573 combines KLK 5/7 inhibition with a well-established IL-13 mechanism. Triveni continues to explore additional innovative combinations to further enhance treatment outcomes.
The company is also advancing an antibody inhibitor of trypsin 1 and 2 for the treatment of hereditary pancreatitis, a genetic disorder predominantly caused by PRSS1 mutations. Hereditary pancreatitis, which currently has no approved treatments, impacts around 10,000 individuals in the United States.
About Triveni Bio Triveni Bio is a biotechnology company at the forefront of novel antibody-based therapies for immunological and inflammatory disorders. Using a genetics-informed, precision medicine approach, the company seeks to establish proof-of-concept early in the drug development process by leveraging deep insights into genetic and mechanistic biology. To learn more, visit www.triveni.bio.
SOURCE Triveni Bio
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LEXINGTON, Va., Oct. 1, 2024 — Attochron LLC, the provider of the only carrier-grade free-space optical communications (FSOC) equipment, has closed $15M in Series A funding with a leading PE firm, TCR, Inc. (NY, NY). This follows Attochron and US Tier 1 carrier Lumen Technologies’ successful proof of concept with a Fortune 200 global retailer in Attochron’s home state of Virginia. Attochron is going to market with the ALTIS-7™ FSOC system that leverages short coherence length optical signals for best-in-class FSOC performance, with the market launch expected early in 1Q25.
About Attochron: In 2016, Attochron was private equity seed-funded by TCR, Inc. accelerating the pace of Attochron’s development and demonstrations. In 2023, Attochron demonstrated the world’s only carrier-grade optical wireless communications technology, having established a global patent position represented by 200+ patents and patents-pending for the only proven carrier-grade FSOC technology. Attochron has disrupted the FSOC technology space and is going to market with major carriers, enterprise customers, military integrators and government agencies.
About TCR: Three Cities Research, Inc. (TCR) is a private equity firm that has invested in private businesses since the 1970s. TCR has have invested in a wide variety of industries, including industrial manufacturing, distribution, apparel, publishing, services and retail. Our investment focus is on businesses that are substantially underperforming their potential. We deploy dedicated resources to deeply understand the value proposition and competitive position of our portfolio companies. We work shoulder to shoulder with our management teams to develop and execute winning strategies. The capital for our investments originally came from the Bemberg family and their affiliates. In the 1990s, the capital came from TCR Fund II and TCR Fund III. Today, the capital comes from principals of TCR. J. William ‘Bill’ Uhrig is the President of TCR. He joined TCR in 1984 and has served as the managing partner since 2003. He has been involved in all aspects of the development and operation of TCR. Bill holds a BS degree in Aeronautical and Astronautical Engineering from Purdue University and an MBA from the University of Chicago Graduate School of Business.
MIAMI, Oct. 1, 2024 — Idea Financial, the leading provider of small business lines of credit, today announced the successful closing of a new $50 million warehouse facility led by Performance Trust Capital Partners. This strategic move significantly enhances Idea Financials’ lending capacity and allows the company to increase its maximum loan limit to $350,000 for well-established small businesses.
The new facility was made possible due to Performance Trust’s relationships with community banks and strengthens Idea Financial’s position in offering competitive and flexible financial products to Main Street businesses across the United States.
“Performance Trust has opened up an entirely new market for Idea Financial through their deep relationships with smaller community banks,” said Larry Bassuk, Idea Financial’s President and co-founder. “With this additional capital, we will continue our mission to be a premier provider of lines of credit for small businesses.”
Justin Leto, Idea Financial’s CEO and co-founder, added, “As the economy shows tremendous resilience and continues to grow, Idea Financial, along with Performance Trust, will be well-positioned to fuel that growth.”
Prior to this partnership, Idea Financial provided lines of credit up to $250,000. The increase to $350,000 allows the company to better serve the needs of growing small businesses requiring larger capital infusions.
Performance Trust Capital Partners, a full-service investment bank focused on community depository institutions, facilitated this deal by leveraging its relationships with community banks and aggregating the capital necessary to provide this substantial warehouse facility – a task typically requiring significant capital from super-regional or national banks.
This partnership marks a significant milestone in Idea Financial’s growth trajectory and reinforces its commitment to supporting small businesses across the nation.
About Idea Financial
Idea Financial is the leading non-bank provider of small business lines of credit in the United States. The company offers financial solutions to high-quality, established businesses needing funds to drive growth. To date, Idea Financial has funded thousands of American small businesses with hundreds of millions of dollars in loans, helping businesses #ChargeForward. For more information, visit ideafinancial.com.
About Performance Trust Capital Partners
Performance Trust Capital Partners is a full-service investment bank focused on community depository institutions. Their innovative approach enables syndication opportunities among community bank partners, allowing for the creation of significant facilities to support small business lenders. For more information, visit performancetrust.com.
NEW YORK, Oct. 1, 2024 — Rogo, the secure enterprise AI platform built by and for finance professionals, announces an $18.5 million Series A funding round led by Khosla Ventures, with participation from Mantis VC, Jack Altman (CEO of Lattice and founder of Altman Capital), Eric Schmidt (former CEO of Google), and others. Keith Rabois, General Partner at Khosla Ventures, CEO of OpenStore, and four-time Midas List awardee, joins Rogo’s Board of Directors. This round brings Rogo’s total funding to $26 million.
Founded in 2021, Rogo has rapidly established itself as the leading vertical provider of Generative AI solutions for financial firms, including investment banks, hedge funds, and private equity. The company is on track to double revenue and expand its banking footprint significantly between now and the end of 2024. This funding will fuel this expansion, enabling Rogo to grow its team, accelerate core platform development and scale customer partnerships.
“We believe Generative AI is set to revolutionize knowledge work, and no industry stands to benefit more than financial services,” said Gabriel Stengel, CEO and Co-Founder of Rogo. “Over the past year, we’ve empowered top financial professionals to work smarter and more efficiently, significantly reducing the workload on junior teams.”
Rogo fine-tunes large language models (LLMs) to provide instant answers to complex financial questions, automate workflows, deliver in-depth market analyses, and help firms build custom AI solutions tailored to their unique needs.
Since emerging from stealth mode in early 2024, the company has seen rapid adoption by more than 25 leading financial firms, achieved multi-million-dollar annual recurring revenue (ARR) and is widely used across teams and levels at global financial firms. Rogo aims to partner with these customers as they navigate firm-wide AI strategies.
Rogo’s existing investors include AlleyCorp, BoxGroup, Company Ventures, and ScOp Ventures. For more information about Rogo and its AI-powered financial intelligence platform, visit rogo.ai.
About Rogo: Trusted by top investment banks and private equity investors, Rogo is a secure enterprise AI platform that helps firms work faster and smarter. We aggregate the most important financial and customer data into a powerful AI platform, then partner with clients to build and customize key workflows and navigate firmwide AI strategy.
About Khosla: Khosla Ventures is a leading venture capital firm with over $15B AUM that invests in early- to growth-stage companies with a focus on bold, transformative technologies. Founded by Vinod Khosla, the firm supports innovators in a variety of industries.
With backing from lead investors Touring Capital and Mitsui, Numa has raised a total of $48M to revolutionize the auto dealership experience with AI, from operations to communications
SAN FRANCISCO, Oct. 1, 2024 — Numa, the AI platform transforming auto dealerships, today announced a $32 million Series B funding round. Touring Capital, a growth stage firm focused on AI-powered software, and Mitsui & Co., Ltd (“Mitsui”), a global conglomerate generating $1.2 billion in annual profit from automotive and mobility, led the round. Existing investors Costanoa Ventures, Threshold and Google’s AI-focused venture fund, Gradient Ventures, also participated.
Led by a team of serial entrepreneurs, Numa is pioneering the AI-native dealership by putting intelligent AI agents into every facet of dealership operations. From rescuing missed calls and booking service appointments to coordinating inter-departmental tasks and managing customer expectations, Numa’s platform transforms how dealerships work. Unlike outdated systems, Numa’s AI agents actively help with every customer interaction, reducing response times by up to 100x, increasing customer satisfaction scores and driving bottom line results for dealerships. By streamlining communications, Numa delivers operational improvements that dealerships can see and feel, setting a new standard for efficiency, productivity, and profitability in automotive.
“We are building the AI-native dealership—re-architecting how dealerships run at their core,” said Tasso Roumeliotis, CEO and co-founder at Numa. “Our AI agents not only handle repetitive tasks like booking appointments and giving status updates, but also more complex ones like rescuing dissatisfied customers and unlocking trade-ins. Numa activates a total transformation for every dealership, making their operations and communications smarter, faster, and more customer-centric.”
The $1.2 trillion U.S. auto dealership market is expected to grow 4% through 2028, yet faces the challenge of outdated systems that burden staff with administrative tasks and customers with frustrating experiences. Numa’s AI agents streamline operations and communications, reducing average customer response times from 23 hours to just 13 minutes and increasing repair order dollars per service advisor by over 35%.
“We see tremendous potential in Numa’s platform because it is purpose-built for car dealerships, transforming an outdated tech stack with an AI-enabled copilot that drives real ROI,” said Priya Saiprasad, co-founder and general partner at Touring Capital. “Numa redefines how dealerships engage with customers to deliver a delightful experience that enhances loyalty while also driving profitability.”
“Numa is a game-changer for the auto industry, introducing AI agents that go beyond communications, redefining how dealerships operate and engage customers,” said Hiroshi Takeuchi, operating officer of Mobility Business Unit at Mitsui. “As Numa’s AI evolves, it empowers dealerships to streamline processes, improve customer interactions, and maximize every business opportunity. Their unique AI-powered platform is setting the new standard for what’s possible in automotive service and sales.”
Numa will use the new funding to expand its AI engineering team, accelerate product development, and continue its mission to power the AI-native dealership and revolutionize the retail dealership experience. This investment follows Numa’s rise to 168 on the 2024 Inc. 5000 list of fastest growing companies and rise to number four in the AI industry category, highlighting a 2,248% three-year revenue growth rate. Additionally, Numa recently strengthened its leadership team with the appointment of Jason Finkelstein as Chief Marketing Officer, bringing his go-to-market experience in customer service software, AI, and high-growth B2B SaaS businesses to drive Numa’s next phase of growth.
Numa will showcase its AI-native dealership technology at the Digital Dealer conference from October 8-10 at booth 707. For more information, visitwww.numa.com.
About Numa Numa is building the platform to power AI-native dealerships, rearchitecting automotive service and sales with advanced AI agents that automate customer interactions, streamline operations and reimagine how dealerships work. Founded by the team behind Location Labs, Numa integrates AI into every aspect of dealership functions—from rescuing customer calls and voicemails that generate more revenue to reducing customer resolution times that drive overall customer satisfaction (CSI) to improving dealership team productivity and accountability. Numa has raised $48 million and works with over 600 dealerships across the U.S. and Canada.
SOURCE Numa
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Venture capital-funded marketplace accesses public markets through Regulation A offering
SAN FRANCISCO, Oct. 1, 2024 — Pacaso, the tech-enabled vacation home marketplace, is revolutionizing both homeownership and startup investment opportunities with the launch of its growth round under Regulation A (“Reg A”). Accredited and non-accredited individual investors can now purchase stock and join the co-ownership company’s cap table alongside marquee investors such as Maveron, Softbank, Greycroft and Fifth Wall. By democratizing access to Pacaso’s equity, this initiative offers the opportunity to own shares in a company that is transforming luxury vacation homeownership.
“Four years ago, we launched Pacaso with the goal of creating a new category of ownership that is better and smarter than existing alternatives, and today we are making it possible for others to invest in our mission,” said Pacaso CEO and Co-Founder Austin Allison. “This opportunity allows individuals to access private company equity in a leading real estate company, and be a part of reshaping the vacation home market. Our strong foundation—built on sales success, a vibrant community of proud owners, and a dedicated team—positions Pacaso for continued growth as the global leader of co-ownership.”
“I wish we had done a round accessible to retail investors prior to Zillow’s IPO. It’s a unique opportunity for regular people to get in early at a high-growth company,” continued Spencer Rascoff, co-founder and chairman of Pacaso, and co-founder and former CEO of Zillow. “As more tech founders become aware of the power of raising capital from individuals, I expect these types of offerings to become mainstream. I believe Pacaso is at the forefront.”
Funds from the growth round will be used to expand Pacaso’s portfolio, adding more homes in more destinations, and to further invest in our product, engineering and home operations functions, a crucial step in the company’s mission to enable families to make unforgettable memories and foster meaningful connections in luxury vacation residences.
“Maveron is proud to have been the first investor in Pacaso back in 2020,” said Dan Levitan, Co-Founder and Partner at Maveron. “The company’s innovative approach has transformed the lives of its customers by making vacation home ownership more accessible to a broader audience. As market dynamics and valuations continue to shift, this new Reg A offering presents an opportunity for everyday investors to own stock in a private venture capital backed company at a pivotal moment before it goes public. VCs shouldn’t be the only ones able to invest in privately held companies like Pacaso.”
Pacaso successfully raised more than $230 million in equity financing with Series A, B, and C rounds of venture capital from top-tier firms like Maveron, Softbank, Greycroft, 75 & Sunny, Crosscut, Global Founders Capital and Fifth Wall.
Pacaso has selected DealMaker, a leading capital-raising platform, and its affiliates to streamline and manage the investment process. To participate in this transformative opportunity and support Pacaso’s vision, please visit www.pacaso.com/invest.
About Pacaso
Co-founded by Austin Allison and Spencer Rascoff in 2020, Pacaso® is a technology-enabled marketplace that modernizes real estate co-ownership, enabling families to effortlessly own a luxury vacation home and travel with confidence. Pacaso curates private residences in premier destinations across the U.S. and internationally, with exceptional amenities, luxury interiors and expert design. After purchase, Pacaso professionally manages the home, provides white-glove scheduling and personalized service, and ensures seamless resale.
AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT IS AVAILABLE ON THE OFFERING PAGE HERE. DEALMAKER IS NOT AFFILIATED WITH ANY OTHER COMPANIES MENTIONED HEREIN UNLESS OTHERWISE STATED.
Certain statements on this website may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding Pacaso’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Readers are cautioned not to put undue reliance on forward-looking statements, and Pacaso assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Pacaso does not give any assurance that Pacaso will achieve its expectations.
SOURCE Pacaso
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Launching this year, Vector Capital’s Mini VC aims to mobilize $1B for 100,000 mom-and-pops, revolutionizing funding with a historic first.
NEW YORK, Oct. 1, 2024 — Vector Capital Solutions, a leader in AI-powered financial solutions, announces its upcoming Mini Venture Capital Program, an innovative funding model designed to tackle the systemic inefficiencies in capital markets and provide sustainable growth opportunities for small businesses. The program introduces equity funding with initial investments starting at $10,000, specifically targeting small businesses historically left out of venture capital opportunities. The firm also plans to raise $1 billion in multiple private equity funds, with the first round beginning in October 2024 and a target completion date by June 30, 2025.
The 400-Year-Old Problem: Capital Market Inefficiencies
“Traditional capital markets, while over 400 years old, have largely remained stagnant,” says Levy Alexandre, CEO of Vector Capital Solutions. “The only significant reform, which was reactionary, came in 1930, following the Great Depression. Since then, the system has operated with inefficiencies that continue to disenfranchise the little guy—small businesses and micro entrepreneurs. While large corporations may still feel some impact at the macro level, it’s Main Street that shoulders the brunt of these inefficiencies, left to pick up the tab while being excluded from meaningful access to capital.”
Many small businesses struggle with cash flow, compounded by capital markets that operate in silos and favor large players. “The problem isn’t just about access to capital; it’s also about how capital is managed,” adds Levy Alexandre. “Main Street businesses tend to treat cash as an asset rather than a tool to manage underlying value of other assets. This creates short-term decisions and leaves them exposed to unsustainable financial models.”
The Solution: Mini Venture Capital Program
The Mini Venture Capital Program is a revolutionary model that addresses these systemic issues. With a focus on providing equity investments starting much lower than current industry standards, the program aims to offer a low entry barrier for small businesses that otherwise struggle to gain access to traditional venture capital. The firm’s AI-powered platform will allow businesses to better manage their cash flow, make data-driven decisions, and position themselves for long-term growth.
Key innovations of the program include:
Low Entry Barrier: With initial capital requirements starting at $10,000, the program offers a new path to funding for businesses traditionally overlooked by large VC firms.
AI-Assisted Management: Entrepreneurs will have access to a platform powered by AI, which provides real-time insights on cash flow management, operations, and strategic planning.
Industry-Agnostic Approach: The Mini VC program evaluates businesses not just on their current financial standing but on their growth potential, no matter the industry.
Long-Term Focus: Unlike traditional VCs that often prioritize quick exits, Vector Capital Solutions is focused on sustainable, long-term growth, ensuring businesses can thrive over time.
Self-Sustaining Fund Cycle
A key innovation of the Mini VC model is its cyclical funding process. The firm plans to create a self-sustaining fund, where early investors can exit as new investors enter, allowing the business to evolve organically. “Our funds will be cyclical and self-generating, ensuring that the capital flow remains constant and the project continues through various phases of growth,” says Levy Alexandre.
A Comprehensive Ecosystem for Success
In addition to the novel Mini VC program, Vector Capital Solutions plans to integrate educational and operational support through its sister companies. Noikademy will offer ongoing business education, while Sir Levy Consulting will provide comprehensive management and strategic support. This approach ensures businesses not only receive the funding they need but are equipped with the tools and expertise to grow sustainably.
“Our system is about more than just funding,” explains Levy Alexandre. “It’s about empowering businesses to thrive in a constantly evolving financial landscape.”
A Glimpse into the Future
As part of its broader strategy, the firm will launch VectorCaps in November 2024. This AI-assisted Business Capital placement app will allow business owners to receive instant funding decisions and connect to a lending marketplace from their mobile devices. Additionally, Vector Capital Solutions plans to consolidate its six entities under a single holding company by mid-2025 to streamline operations and maximize synergies.
About Vector Capital Solutions
Vector Capital Solutions LLC is a New York-based private equity firm that intends to leverage AI and decades of financial expertise to create revolutionary capital solutions for small and mid-sized businesses. The firm’s mission is to provide long-term sustainability through innovative financial models and comprehensive support systems.
DISCLAIMERS:
Securities offerings are reserved for consideration by Accredited Investors only.
All forward-looking statements should be considered as speculation. Readers are advised to consult a qualified advisor for any consideration.
xtype has attracted the attention of global investors due to the success of its innovative multi-instance management platform, helping enterprise customers scale their ServiceNow investments.
The new funding will support xtype’s mission to help companies globally expand their ServiceNow operations.
This round also included participation from returning investors Columbia Capital, Inner Loop Capital, and SaaS Ventures.
COVINA, Calif., Oct. 1, 2024 — xtype, the leading software company for multi-instance management on the ServiceNow platform, today announced it had raised a $21 million Series A funding round led by Norwest Venture Partners, with participation from ServiceNow Ventures and existing investors including Columbia Capital and Inner Loop Capital. This milestone marks a significant leap forward in xtype’s mission to revolutionize how organizations manage their ServiceNow environments.
xtype team (PRNewsfoto/xtype)
An xtype real-time multi-instance view of ServiceNow Update Sets. (PRNewsfoto/xtype)
With this new capital infusion, xtype will scale its cutting-edge platform, providing organizations with unmatched real-time visibility, governance, and automation for their ServiceNow instances across development, testing, and production.
The funding will also fuel the expansion of xtype’s presence globally, ensuring more businesses can take complete control of their ServiceNow environments quickly and precisely.
“We are excited to have the support of such esteemed partners in both the tech and venture capital sectors. Their belief in our vision validates our approach and accelerates our mission to redefine multi-instance management for the ServiceNow platform,” said Ron Gidron, CEO and co-founder of xtype. “This funding validates our vision that multi-instance management is key to helping customers achieve as much value as possible from the ServiceNow platform. Our platform empowers teams to accelerate innovation, remain compliant, and increase productivity by gaining real-time insights into their entire ServiceNow ecosystem while automating complex processes to reduce risk and improve productivity.”
Driving Innovation with Multi-Instance Management
The growing complexity of managing multiple instances has become a critical challenge for mid and large enterprises. As organizations scale, managing version control, update sets, and synchronization across development, testing, and production environments become labor-intensive and error-prone. xtype’s platform solves this problem by offering comprehensive visibility into instance differences, automated synchronization, and governance tools that ensure secure and compliant operations at every stage.
“As a stand-out tool on the ServiceNow platform, xtype delivers immediate ROI through enhanced governance, increased team capacity and release velocity, improved quality and backlog reduction. These strengths have attracted a growing number of Fortune 500 companies to adopt xtype,” said Dave Zilberman, general partner at Norwest Venture Partners. “But it’s not only the product that is exceptional. The experienced xtype team brings a clear vision for excelling in a large and rapidly growing market. We look forward to working with xtype as they continue to deliver streamlined ServiceNow experiences and captivate new audiences.”
ServiceNow World Forum in Dallas, October 8th
To showcase the latest advancements in instance management, xtype invites customers and partners to join them at the ServiceNow World Forum in Dallas, Texas on October 8. Attendees will be able to see firsthand how xtype drives the future of multi-instance management, with live demos, on-stage presentations, and in-depth discussions on improving visibility, governance, and automation for their ServiceNow environments.
“ServiceNow Ventures is proud to support xtype as the company continues to empower customers to derive as much value as possible from their ServiceNow investment,” said Victor Chang, Vice President of ServiceNow Ventures. “xtype has a deep understanding of the ServiceNow community and differentiated ability to deliver the capabilities they need most – from reducing time to value to improving governance across instances. We look forward to seeing their continued impact.”
About xtype
Founded in 2020, xtype is the leading provider of multi-instance management for ServiceNow platform teams, providing real-time visibility, governance, and automation capabilities to simplify and accelerate delivery and compliance on the ServiceNow platform. Trusted by global enterprises in banking, insurance, healthcare, and beyond, xtype empowers teams to innovate faster, ensuring compliance and reducing operational risk.
About Norwest Venture Partners
Norwest Venture Partners is a global venture and growth equity investment firm managing more than $15.5 billion in capital. Since its inception, Norwest has invested in more than 700 companies and currently partners with more than 230 companies in its venture and growth equity portfolio. The firm invests in early- to late-stage businesses across key sectors, focusing on enterprise, consumer, and healthcare. The Norwest team offers a deep network of connections, extensive operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses. Norwest has offices in Menlo Park and San Francisco, Calif.; Mumbai, India; and Tel Aviv, Israel. For more information, please visit www.nvp.com.
About Columbia Capital
Columbia Capital is a venture capital firm based in Alexandria, VA. Since 1989, the Columbia Capital team has invested in digital infrastructure, enterprise technology, and mobility, raising $7.1B in fund commitments. Columbia Capital has developed a profitable and repeatable investment model, guided by a specialized and experienced team, and invested in over 175 portfolio companies, many of which have redefined or created new industries.
About Inner Loop Capital
Inner Loop Capital is a pre-seed and seed venture capital firm investing at the intersection of Infrastructure Software and AI. Inner Loop invests in “AI for Infra” (AI innovations for Cybersecurity, Cloud, and other Infrastructure Software) and “Infra for AI” (new infrastructure layers needed for the ubiquitous deployment of AI). Inner Loop is managed by solo VC Justin Label, is based in Baltimore, MD, and invests throughout North America and abroad. Founded in 2019, Inner Loop is currently investing out of a Fund II. For more information, please visit innerloopcap.com.
For media inquiries, please contact:
YourStory PR for xtype Email: [email protected] Phone: +1 778.772.0754
Air Doctor connects travelers to a global network of over 20,000 multilingual doctors and specialists. The user-friendly app and cutting-edge algorithms reduce the time required to receive high-quality care when overseas, resulting in more than 50% cost savings for outpatient claims
TEL AVIV, Israel, Oct. 1, 2024 — Air Doctor, a global leader in travel health, announced today that it has raised $20M series B funding in a round led by aMoon, with participation from strategic investors Tokio Marine Holdings, Samsung Ventures (SVIC), and current shareholders Lightspeed Venture Partners, Vintage Investment Partners, Phoenix Insurance, and Munich Re Ventures. The investment is set to fuel the company’s ongoing expansion in Asia, further solidifying its position as a global market leader in travel health.
Air Doctor connects travelers to a global network of over 20,000 multilingual doctors and specialists and operates in 84 countries. Its user-friendly app and cutting-edge algorithms significantly reduce the time required to receive high-quality medical care abroad, while also delivering more than 50% savings on outpatient claims and 60% savings for medical assistance providers, all while reducing overall handling and processing time by 75%.
The travel industry is booming in 2024,with 40% of people planning to travel more this year than in 2023. However, many are still worried about potential medical problems incurred abroad – 75% of travelers revealed they were primarily concerns with falling sick or becoming injured, either before or during their trip. The need for accessible, high-quality healthcare while traveling has never been more vital.
By integrating Air Doctor’s global outpatient network, companies improve their customer experience and stay competitive in a rapidly evolving market, while travelers have a doctor who speaks their language at a push of a button.
“The enjoyment of traveling abroad should not be affected by lack of appropriate local healthcare options and a lengthy and costly insurance claim process. Air Doctor ensures healthcare is easy to access for travelers, while reducing exorbitant medical bills usually footed by insurers. We are excited to have the backing of investors who share our vision for the future,” said Jenny Cohen Derfler, CEO and Founder of Air Doctor. “Diversity is in our DNA. Our success is driven by our founding and executive team spanning eight countries, representing a wide range of ethnicities. With this funding, our innovative team and our fully digital solution, Air Doctor is primed to become the standard for travelers’ and expats’ health needs worldwide.”
“We pride ourselves on investing in cutting-edge technologies that transform industries, and Air Doctor is doing just that by leveraging advanced algorithms and app-based solutions to provide timely, quality medical care for travelers worldwide. Their fully digital platform not only offers immediate medical support but also streamlines services for healthcare providers and insurers. By reducing unnecessary referrals, it helps cut costs and relieve pressure on congested medical systems. It’s a game-changer for everyone, and we’re fully aligned with their mission,” said Todd Sone, General Partner at aMoon.
Available 24/7 in up to 21 languages, Air Doctor users can book appointments and video consultations with doctors worldwide within minutes. The company’s sophisticated algorithms and cutting-edge technology allows Air Doctor to precisely match patients with the most suitable doctors based on preferences such as language, location, and timing. This provides travelers with a virtual roster of experienced and verified doctors, ensuring quick and reliable access to care.
For insured travelers, Air Doctor offers a unique solution – a claimless, and cashless healthcare experience that not only enhances customer satisfaction but also reduces costs by directing travelers to appropriate outpatient care instead of costly hospital visits. Now operating in 84 countries, Air Doctor supports thousands of travelers globally and offers three convenient consultation types: in-clinic visits, home visits, and video consultations. What sets the video consultations apart is the ability to issue valid local prescriptions, further enhancing its global service offering.
Air Doctor has boosted its customer base by 2.5 times over the past year, and boasts an impressive 84 Net Promoter Score (NPS) which far exceeds the industry average of 36.
About Air Doctor
Launched in 2018, Air Doctor is a startup that connects travelers seeking medical attention with local, multi-lingual doctors whilst abroad through their intuitive mobile and web app. With a global network of over 20,000 medical professionals across 2,000 cities in 84 countries, Air Doctor provides travelers with peace of mind and aims to make healthcare accessible to everyone, everywhere.
Air Doctor provides three visit types, clinic visits, home visits and video consultations. Air Doctor offers video consultation services in up to 21 languages, as well as the added ability to offer valid, local prescriptions that patients can fill at the nearest pharmacy. For more information visit https://www.air-dr.com/.
Media Contact Efrat Marmur VP Marketing, Air Doctor [email protected] +972 54 6780 758
SOURCE Air Doctor
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