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:

1. Securities offerings are reserved for consideration by Accredited Investors only.
2. All forward-looking statements should be considered as speculation. Readers are advised to consult a qualified advisor for any consideration.

Media Contact

Vector Capital Solutions LLC

[email protected]

http://www.vectorcaps.com

SOURCE Vector Capital Solutions LLC

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• 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.

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

Photo – https://mma.prnewswire.com/media/2516726/xtype_team.jpg
Photo – https://mma.prnewswire.com/media/2516728/xtype_ServiceNow.jpg
Logo – https://mma.prnewswire.com/media/2055507/xtype_Logo.jpg

SOURCE xtype

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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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COLUMBUS, Ohio, Oct. 1, 2024 — HOMAGE, Inc., the vintage-inspired sports and licensed apparel brand, today announced the successful closing of its latest growth capital round. After being kicked off with an initial investment from Ryan Reynolds’ Maximum Effort, several prominent figures and organizations joined the round, including Winnie Capital (led by NFL star Jason Kelce), More Better (led by Emmy-winning creator, actor and entrepreneur Rob McElhenney), Adam Hansmann (co-founder of The Athletic), Haslam Sports Group (owners of the Cleveland Browns, Columbus Crew, and shared controlling owners of the Milwaukee Bucks), 35Ventures (led by Kevin Durant and Rich Kleiman) and Wheelhouse 360. The addition of this notable group of investors will further strengthen HOMAGE’s foothold in the sports, media, and entertainment industries.

“We’re thrilled to have attracted this incredible group of investors,” said Ryan Vesler, Founder and CEO of HOMAGE. “At HOMAGE, we’ve always been focused on helping our customers ‘pay homage’ to the people, places, and moments that mean the most to them. We look forward to growing the HOMAGE brand even further by tapping into our new investors’ strong cultural networks and unique strategic assets.

HOMAGE plans to use this capital infusion to continue expanding production capabilities, grow its operating team, and strengthen its technology and marketing infrastructure. The brand also aims to scale its partnerships within the licensed product industry, where it already boasts collaborations with the NFL, NBA, WNBA, MLB, and other major pop culture entities.

The new investors in this round are not just bringing capital; they are contributing to HOMAGE’s future in tangible ways, from content creation to strategic advisory roles. As an example, Jason Kelce’s investment builds on a long-standing relationship with HOMAGE that includes projects such as serving as the merchandise partners for the Kelce brothers’ “New Heights” podcast, and creating unique collections that support Jason’s charitable efforts, including  “A Philly Special Christmas Special” and “Jason Kelce Pay HOMAGE” retirement t-shirt.

“I’ve been a fan of HOMAGE from the start because their designs bring back so many memories—from the things I grew up doing to the teams I’ve always rooted for,” shares Jason Kelce. “There’s a real sense of nostalgia in everything they do, and it resonates with me.”

Similarly, 35Ventures and its connections in the sports industry, along with Haslam Sports Group’s influence across multiple sports properties, will open new doors for HOMAGE as it continues to grow its brand visibility and engage a wider audience.

“We’re grateful for the opportunity to collaborate with such dynamic individuals and companies in this exciting next chapter for HOMAGE,” Vesler concluded. “We’re looking forward to the creativity, strategic insight, and energy they’ll bring to the brand, helping us grow in ways we couldn’t have imagined just a few years ago.”

About HOMAGE, Inc.
HOMAGE is an official license partner to the NFL, NBA, WNBA, and MLB, as well as numerous colleges and universities, and many beloved pop culture brands. Its mission is to help its customers pay homage to the people, places, and moments that mean the most to them. HOMAGE is proudly based in Columbus, Ohio. HOMAGE apparel is designed and produced in-house and available online at www.HOMAGE.com and in stadium team stores across the country.

About Maximum Effort:
Maximum Effort makes movies, tv series, content and cocktails for the personal amusement of Hollywood Star Ryan Reynolds. We occasionally share them with the general public.

About More Better:
More Better, founded by Rob McElhenney, invests in sports, entertainment and related properties that further its mission of compelling storytelling. To learn more, visit https://www.more-better.co.

About Winnie Capital:
Winnie Capital, led by NFL star Jason Kelce, is a venture firm dedicated to supporting companies with exceptional growth potential across diverse industries.

About Haslam Sports Group:
Haslam Sports Group owns and operates the Cleveland Browns and Columbus Crew, focusing on community impact and championship-winning teams. To learn more, visit https://haslamsports.com/.

About Wheelhouse 360:
Wheelhouse 360 invests in breakthrough consumer brands, offering access to strategic resources through its partnerships with content producers, marketing and branding agencies, and talent managers. To learn more, visit https://www.wheelhouse360.com/

About 35 Ventures:
35V, the family office of 2x NBA Champion Kevin Durant, manages investments in over 100 startups, KD’s personal brand, business ventures, and the Durant Family Foundation. To learn more, visit https://35v.tv/.

SOURCE HOMAGE

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The Investment Emphasizes HEST’s Commitment to Driving Transformation in Science

DALLAS, Oct. 1, 2024 — HEST Investments, a Dallas-based venture capital family office known for its commitment to innovative and disruptive ventures, is proud to announce its recent investment in Valerion, a cutting-edge battery technology company headquartered at The University of Michigan. The investment, finalized in June 2024, marks a pivotal moment in HEST Investments’ ongoing mission drive transformative change in science and technology.

Valerion is at the forefront of revolutionizing the battery industry with technology that makes batteries more efficient, longer lasting and cost-effective. The newly secured capital will be utilized to conduct further testing and development of Valerion’s groundbreaking battery technology, which has the potential to reshape the landscape of electric vehicles (EVs) and all battery-operated technology.

“We are excited to support Valerion in their journey to redefine the future of battery technology,” said Don Huffines, CEO of HEST Investments. “At HEST, our mission is to see beyond the obvious, and Valerion’s innovative approach to energy storage perfectly aligns with our vision of investing in technologies that have the power to change the world.”

Jim Graham, CEO of Valerion, shared his enthusiasm for the partnership, stating, “This investment comes at a critical time as we advance our technology towards commercialization. HEST Investments not only provides the capital we need to push our development forward but also offers a partnership grounded in a shared vision for sustainable and impactful innovation.”

HEST Investments’ diverse portfolio spans life sciences, biotech, and technology, with a particular focus on identifying and supporting companies that challenge conventional wisdom and have the potential to drive significant change in their industries. The firm’s investment in Valerion underscores its dedication to fostering the growth of visionary companies poised to make an impact to the way we view the world.

As Valerion continues to innovate and push the boundaries of battery technology, HEST Investments remains committed to backing transformative ventures that are set to shape the future. For more information about HEST Investments, please visit https://hest.group/. To learn more about Valerion, please visit http://valerion.eco/.

Media Contact:
HEST Investments
Phone: (214) 526-3000
Email: [email protected]

About HEST Investments
HEST Investments is a Dallas-based venture capital family office focused on seeing beyond the obvious. With a diverse portfolio in life sciences, biotech, and technology, HEST Investments is dedicated to investing in groundbreaking companies that challenge conventional wisdom and have the potential to drive transformative change.

About Valerion
Valerion is a pioneering battery technology company headquartered at The University of Michigan. Valerion is dedicated to transforming the battery industry with innovations that make batteries more efficient, lighter, longer lasting and cost-effective. Their technology has the potential to revolutionize the electric vehicle market and reshape the landscape of all battery-powered technology.

SOURCE HEST Investments

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HOUSTON, Oct. 1, 2024 — DocJuris, a leader in AI contract review, announced today the successful closure of its Series A funding round, raising $8 million in new capital, bringing the total capital raised to date to $11.2 million. The round was led by Silverton Partners, the most active venture capital firm in Texas, with participation from previous investors Watertower Ventures, Surface Ventures, and Seed Round Capital.

DocJuris’s AI-powered contract negotiation software automates key tasks during the review, redlining, and negotiation of contracts. These capabilities come at a critical time for enterprise teams and general counsels. In a DocJuris survey of 700+ in-house attorneys and contract administrators, an astonishing 74% of companies manually review and draft contracts, amounting to significant errors and time lost in legal operations, sales cycles, and supply chain management.

The key to DocJuris’s success has been rooted in unmatched AI functionality that makes contract negotiations lightning-fast, compliant, and more enjoyable. Several Fortune 500 companies — including Siemens, Dell, FedEx, Toyota, and Duke Energy — leverage DocJuris for various contract management tasks. They use the platform to screen third-party contracts in seconds, redline clauses with playbook-compliant edits in one click, and generate perfectly formatted track changes, exception tables, and amendments — all from a streamlined, cloud-based application.

“DocJuris AI has become an industry-leading platform that empowers enterprise legal, procurement, and sales teams to close deals faster while reducing risk,” said Henal Patel, CEO and Founder of DocJuris. “With this funding, we will continue scaffolding our platform around generative AI, expand our customer success team, and grow our user base.”  

The Association of Corporate Counsel, the largest network of enterprise in-house counsel in the world, awarded DocJuris the Value Champion Award in 2023 for reducing contract cycle times to minutes with AI. This prestigious award is given to only 1% of legal technology vendors and was part of a DocJuris customer case study with Flex, a Global Fortune 500 electronics manufacturing company.

Iringo Csifo-Nagy, Lead Attorney for Flex’s Global Procurement and Supply Chain, stated, “The average turnaround time for redlining a complex supply chain agreement was eight days, and our contract volumes were increasing. It was time for a change. We wanted to replace repetitive, manual tasks and free up valuable time for our employees to focus on more impactful work. To achieve this, we developed a turnkey solution for AI-driven contract reviews together with the DocJuris team.”

About DocJuris

Headquartered in Houston, DocJuris is a dynamic legal tech company committed to revolutionizing contract review and negotiation with its state-of-the-art AI platform. Led by a seasoned team of legal professionals and tech enthusiasts, DocJuris optimizes contract review processes, guarantees policy alignment, and reduces contract negotiation timeframes.

For press inquiries only:
PR Contact Name: Kirsten LeBouef
Email: [email protected] 

For more information on DocJuris:
www.DocJuris.com

SOURCE DocJuris, Inc.

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DENVER, Oct. 1, 2024 — thebad.company, a Colorado-based venture studio, business accelerator, and investment group, is excited to announce a groundbreaking partnership with WeFunder, aimed at raising $250 million over the next 10 years. The funds will be used to solve key challenges facing Colorado, focusing on workforce readiness, reshoring manufacturing, and transforming the artificial intelligence (AI) landscape.

Building the Workforce of the Future

A core initiative of this partnership is enabling every high school and college student in Colorado to gain real-world work experience. thebad.company is building technology that will connect employers and educational institutions to create real-time curriculum revisions that align with rapidly evolving job market needs.

“At thebad.company, we’re reimagining how education and business can collaborate to prepare the workforce of tomorrow,” said Orin Wilson, CEO of thebad.company. “By creating direct bridges between schools, employers, and the workforce, we’re not just enhancing career readiness — we’re transforming it.”

Reviving U.S. Manufacturing, Starting with Colorado

In addition to education and workforce development, the partnership will focus on reshoring manufacturing to the U.S., beginning with Colorado. thebad.company will work to build technological infrastructure and networks that empower the state’s manufacturing industry.

“This isn’t just about solving today’s problems; it’s about building a better tomorrow,” said Brad Kellum, Chief Innovation Officer of thebad.company. “This partnership will position Colorado as a leader in manufacturing innovation and growth.”

Transforming the AI Industry with Spectre Labs

A visionary aspect of this partnership is thebad.company’s AI Future Lab, known as Spectre Labs, where the company is exploring what the AI landscape will need to look like over the next decade. Spectre Labs metaphorically “time-travels” into the future to build the frameworks necessary for an optimal AI environment. The lab is setting its sights on creating an AI ecosystem that not only pushes the boundaries of innovation but also ensures ethical, sustainable, and efficient AI development.

“Through Spectre Labs, we’re looking beyond today’s challenges and building the AI frameworks of tomorrow,” said Ryan Doelling, COO of thebad.company. “Our goal is to anticipate the needs of an AI-driven world and ensure that we’re ready to meet them.”

The AI Future Lab will explore breakthrough AI technologies, addressing ethical concerns and laying the groundwork for an AI landscape that enhances productivity, sustainability, and human well-being.

Additional Key Initiatives:

1. Colorado Investment Coalition – Creating a coalition that gives Colorado investors more direct control over investing in local initiatives.
2. Business Climate Analytics Tools – Providing entrepreneurs and chambers of commerce with analytics to understand business needs and helping them bring new businesses to life.
3. Industry Alliances – Building alliances in key sectors like technology, aerospace, manufacturing, and e-commerce to drive long-term innovation and growth.
4. Housing Affordability & Sustainability – Addressing rising housing costs through technological innovation and sustainable business models.
5. Environmentally Sustainable Business Environment – Promoting environmentally conscious practices through collaboration and technological advancements.

“Our partnership with WeFunder allows us to bring these transformative ideas to life,” added Orin Wilson, CEO at thebad.company. “Together, we’re creating a vibrant, resilient, and future-ready business landscape for Colorado.”

WeFunder’s Vision for Innovation

WeFunder, a leading crowdfunding platform, is equally enthusiastic about the partnership and its potential to create lasting change.

“At WeFunder, we aim to empower communities and entrepreneurs to solve pressing challenges,” said Justin Renfro, a representative of WeFunder. “This collaboration with thebad.company is perfectly aligned with our mission to support visionary startups that can make a real difference, particularly in areas as critical as AI and workforce development.”

Tech and Innovation Leadership in Denver

Thebad.company is already laying the foundation for a tech-forward future by founding the Denver YCombinator Alumni Group through their CEO, Orin Wilson, who is a YCombinator Alum, furthering the company’s commitment to fostering local talent and innovation in Colorado.

About thebad.company

Thebad.company is a venture studio, business accelerator, and investment group with a mission to solve the world’s toughest problems through the creation of innovative companies. From reshaping industries to advancing AI, thebad.company is committed to generating widespread positive impact.

For more information, visit https://www.thebad.company/.

Media Contact:

[email protected]

SOURCE thebad.company

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Founded in January 2024, Eon’s vision for the future of cloud backup posture management has attracted funding from Sequoia Capital, Lightspeed Venture Partners, Greenoaks, and dozens of industry leaders

NEW YORK, Oct. 1, 2024 — Eon, a next-generation cloud backup solution, announced its launch from stealth, having raised a total of $127 million in funding. The first backup autopilot for the age of cloud infrastructure, Eon monitors cloud resource sprawl and brings cloud backup posture management (CBPM) to enterprises. Eon replaces legacy backup tools and generic snapshots, transforming backups into useful, easy-to-manage assets.

Eon was founded by Ofir Ehrlich, Gonen Stein, and Ron Kimchi, the team behind CloudEndure, which was acquired by Amazon in 2019, where they built and led the Disaster Recovery and Cloud Migration services at AWS. Their experience working with the biggest companies revealed a glaring hole in the cloud infrastructure backup and recovery market, leading to the creation of Eon. 

Since its founding in January 2024, Eon has secured three rounds of funding; a $20 million Seed led by Sequoia Capital with participation from Vine Ventures, Meron Capital, and Eight Roads, a $30 million Series A led by Lightspeed Venture Partners and participation from Sheva, and a $77 million Series B led by Greenoaks with participation from Quiet Ventures.

The global cloud infrastructure market is growing at an aggressive pace, expected to reach $838 billion by 2034, with enterprises estimating that 10-30% of their total cloud bill will be spent on backup storage and management. However, the scale and dynamic nature of the cloud have led to enterprises losing control over their backups. Current backup management methods require time-consuming, manual data classification and tagging processes, agents and appliances, face mounting prohibitive costs, and ultimately produce backups that are not accessible. 

“Eon has reimagined what backups can be for enterprises by introducing a new era of cloud backup storage and management,” said Ofir Ehrlich, Co-Founder and CEO of Eon. “We are fortunate to have supportive funding partners who deeply understand the value of unlocking cloud backups to be truly automated, globally searchable, portable, and useful”.

Eon autonomously scans, maps, and classifies cloud resources continuously, providing backup recommendations based on business and compliance needs, and ensuring the appropriate backup policy is in use. Existing solutions rely on snapshots, which are non-searchable black boxes, that require full restores, and are vendor-locked. In contrast, Eon’s next-generation backup storage is fully managed, portable, and provides global search capabilities. This enables customers to find and restore individual files and run SQL queries on backed-up database snapshots seamlessly, without any resource provisioning. 

“In an industrywhere file restoration can take weeks, Eon’s novel backup solution pinpoints data instantly, saving time, money, and compliance headaches for customers,” said Shaun Maguire, Partner at Sequoia Capital. “With a world-class team led by cloud pioneers Ofir, Gonen, and Ron – Eon is bringing the next generation of cloud backup management to market.”

“Investing in the right company begins with investing in the right team, and with Eon we saw an exceptional team, uniquely skilled for the task at hand,” said Tal Morgenstern, Partner at Lightspeed. “Eon is addressing a critical need as enterprises accelerate their cloud adoption and face headwinds of data protection concerns. We are thrilled to support their mission.” 

“Storage and backup are among the largest parts of the IT budget,” said Patrick Backhouse, Partner at Greenoaks. “Yet customers are stuck with frustrating, outdated options, leaving them with poorly optimized costs; incomplete data inventories; and shallow classification. Eon has the team, the expertise, and the ambition to develop an entirely new product that we believe will become the cognitive referent for cloud-native backup. We are proud to partner with Ofir and his team early in their journey, as they break the trade-off between price, performance, and transparency.”

About Eon

Eon is a next-generation cloud backup solution, introducing the first backup autopilot for the age of cloud infrastructure. It brings cloud backup posture management (CBPM) to enterprises and transforms traditional, hard-to-use cloud backups into useful, easy-to-manage assets. Founded in 2024 by Ofir Ehrlich, Gonen Stein, and Ron Kimchi, the team behind CloudEndure (acquired by Amazon), Eon is backed by leading venture capital firms including Sequoia, Greenoaks, and Lightspeed, as well as dozens of industry leaders. For more information and to learn more, please visit https://www.eon.io/. 

Media Contact 
Josh Schaefer
[email protected]
+972-050-790-4505 

SOURCE Eon

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BOSTON, Oct. 1, 2024 — J2 Ventures announced today that Jennifer Cable, the President of Thorlabs, the leading international provider of optical and fiber optics equipment design and manufacturing in America, has joined its advisor board. Ms. Cable’s expertise will help J2 Ventures continue its expansion into the cutting edge of deep technology sourcing and manufacturing lines of business. 

Ms. Cable has led Thorlabs’ comprehensive and strategic expansion efforts, growing its lines of business through strategic collaborations and organic growth, with a focus on serving academic and industrial research customers, as well as both startups and established firms working in industries such as quantum, semiconductor, optical telecommunications test and measurement, and medical devices and imaging. The firm was founded by her father, Alex Cable, who saw a significant gap in the market to provide best-in-class optical equipment to frontier tech companies and academic institutions around the world, and has since grown into one of the largest equipment providers in the United States, with Ms. Cable now leading as a second generation owner.

“We could not be more excited to collaborate with Jenn Cable who has already shown both an incredible wisdom and alacrity in working with deep technology startups” commented J2 Ventures Managing Partner and Co-founder, Alexander Harstrick. Alex has worked with and known Jenn Cable for over a decade, but she has already seamlessly worked directly with J2 companies and the rest of the team before joining their advisory board permanently. “The value Jennifer brings is palpable, and everyone at J2 recognizes both the brand and value that a partner like Thorlabs means in the space”, noted Jonathan Bronson, PhD, the other side of J2’s founding team.

Jennifer Cable joins other J2 Advisory Board Members VADM Raquel Bono, MD, the former head of the Defense Health Agency, LTG Patty Horoho, the former Surgeon General of the U.S. Army, Nori Gerardo Lietz, a significant leader in Private Equity, Mr. Kenny Lee, the founder of Kencoa Aerospace and Mr. Paul Gompers, one of the most published authors at Harvard Business School in the space of Venture Capital and a leading expert in the space.

“It is clear the J2 team has unprecedented access to some of the most exciting companies in our space and I am excited to take our mutual passion to the next level as an advisor to their team”, noted Jennifer. “I look forward to continuing to help the team advise founders, especially with scaling their supply chain and manufacturing and help the team grow into some incredible opportunities to commercialize and scale cutting edge technologies”.

About J2 Ventures
J2 Ventures is a $250M+ AUM deep-tech venture capital firm based in Boston, investing in sectors critical to national security and private sector advancements, including advanced computing, cybersecurity, telecom and infrastructure, and healthcare. For more information about J2 Ventures and their initiatives, please visit https://www.j2vp.com/.

About Thor Labs
Thorlabs, a vertically integrated photonics products manufacturer, was founded in 1989 to serve the laser and electro-optics research market. As that market has spawned a multitude of technical innovations, Thorlabs has extended its core competencies in an effort to play an ever-increasing role to serve the Photonics Industry at the research end, as well as the industrial, life science, medical, and defense segments. The organization’s highly integrated and diverse manufacturing assets include semiconductor fabrication of Fabry-Perot, DFB, and VCSEL lasers; fiber towers for drawing both silica and fluoride glass optical fibers; MBE/MOCVD epitaxial wafer growth reactors; extensive glass and metal fabrication facilities; advanced thin film deposition capabilities; and optomechanical and optoelectronic shops.

Media Contact: 
Alexander Harstrick
[email protected]

SOURCE J2 Ventures

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