Global leader in legal AI scales up U.S. presence following $40 million funding round and more than 5x growth
LONDON, Sept. 23, 2024 — Luminance, the pioneer in Legal-Grade™ AI, is opening its doors in Dallas, Texas, to meet increasing U.S. customer demand. The move follows a recent expansion of the company’s New York headquarters and key hires across North America, including in San Francisco and Canada, to accommodate accelerated market capture in the region.
Founded by AI experts from the University of Cambridge, Luminance now generates over one-third of its revenue in the U.S. Recently recognized on the Inc. 5000 list of America’s fastest growing private companies, the company achieved over 5x ARR growth in the past two years and saw a 225% increase in U.S. customers adopting its flagship product, Luminance Corporate, since January 2023. Today, the company’s customer base spans 700+ organizations in 70+ countries, from technology giants such as AMD and Hitachi, to food and beverage businesses including AB InBev and Panda Express, pharmaceutical giant LG Chem, and global manufacturers Koch Industries and Yokogawa.
Luminance’s strategic growth in the U.S. is bolstered by the company’s recent $40 million Series B funding round. The investment was led by Santa Monica-based venture firm, March Capital, with participation by National Grid Partners, GTM Capital and other existing investors, including leading law firm Slaughter and May.
Eleanor Lightbody, CEO of Luminance, shared: “Our recent financing is a testament to the strength of our technology, which is defining a new category of Legal-Grade™ AI. To date, Luminance has organically captured market share in the U.S. Now, we are doubling down in Dallas and New York as just the first steps of our U.S. expansion, enabling us to better serve existing customers and bring our specialized, proprietary AI to more organizations worldwide.”
In addition to expanding its U.S. footprint, Luminance will continue its focus on product innovation. Over the last 12 months, the company has released several industry firsts, including a Legal-Grade™ chatbot for instant Q&A and automated redrafting, ‘Self-Serve’ functionality for non-legal teams to review and negotiate third-party contracts, and ‘Auto Mark-Up’, which allows users to bring any agreement in line with company standards in one click.
George Niño, Executive Vice President, General Counsel and Corporate Secretary for Yokogawa Corporation of America, said: “Luminance has been a game-changer for our business and surpasses other solutions available today. As a multinational corporation, we’re excited to see how Luminance’s expanding, on-the-ground presence further enhances our deep partnership.”
About Luminance
Built on a proprietary legal Large Language Model (LLM), Luminance’s specialised legal co-pilot brings next-generation AI to every touchpoint a business has with its documents, from contract generation to negotiation and post-execution analysis. Developed by world-leading AI experts, validated by leading lawyers, and in use by over 700 customers in 70 countries, Luminance is the pioneer in Legal-Grade™ AI: wherever computer meets contract.
SOURCE Luminance
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LOS ANGELES, Sept. 23, 2024 — SeatBoost, a startup that is transforming the air travel experience through dynamic seat upgrade solutions, is pleased to announce an investment from International Airlines Group (IAG). This funding marks an important milestone in SeatBoost’s mission to bring joy to travelers’ experiences while generating incremental non-dilutive revenue for partner airlines.
SeatBoost’s platform facilitates live auctions on mobile in the airport environment, offering passengers the chance to bid for premium seat inventory made available by the airlines. The platform not only provides passengers with a unique engaging experience, but it also generates incremental non-dilutive revenue on seat inventory that would otherwise spoil. Current partners include IAG portfolio brand Iberia, TAP Air Portugal, Condor, Avianca and LATAM. With support from IAG through its corporate venture capital arm, SeatBoost plans to expand its capabilities and further improve the travel experience for passengers around the world.
Kevin Stamler, CEO of SeatBoost, shared his thoughts on the investment: “We’re excited to partner with IAG at this important stage in our journey. This collaboration not only supports our vision but also helps us accelerate our growth and innovation. Our aim is to enhance data-driven insights to create personalized experiences for travelers while maximizing revenue for airlines. The investment from IAG validates our business model and underscores the potential of SeatBoost and the positive impact we can achieve together in the travel industry.”
Raza Ali, IAG’s Vice President – Innovation, commented, “Innovation is a core function at IAG, and through innovation we can deliver better customer experiences, more efficient operations, more sustainable aviation and a better-performing business overall. That’s why we think the creative approach of SeatBoost to unlock meaningful revenue from new sources of demand is aligned with our view.”
The partnership with IAG will enable SeatBoost to leverage technology and innovation, improving its current offerings and paving the way for additional solutions that prioritize customer needs and operational efficiency. As SeatBoost expands, it remains committed to setting high standards in the travel sector, ensuring passengers enjoy a seamless, personalized airport and flying experience.
About SeatBoost SeatBoost is a travel technology startup dedicated to enhancing simultaneously the air travel experience and airline profitability through innovation. Our highly scalable and highly configurable platform is built to leverage the outcome-efficient revenue generating capability of auctions through interactive user engagement.
About International Airlines Group (IAG) International Airlines Group (IAG) is one of the world’s largest airline groups with 585 aircrafts flying to over 250 destinations and carrying more than 115 million passengers in 2023. The Group was created in 2011 and includes the airlines British Airways, Iberia, Aer Lingus, Vueling and LEVEL, and IAG Loyalty and IAG Cargo. It is a Spanish-registered company with its corporate office in London, United Kingdom. Its shares are listed on the London Stock Exchange and on the Spanish stock markets.
IAG’s vision is to be the leading airline group in sustainability. The group is proud to have been listed on the Carbon Disclosure Project’s A List for its commitment to sustainability and action on climate change.
Financing led by new investor TCGX, alongside Goldman Sachs Alternatives, Avoro Ventures and venBio
Funding will support and accelerate development of next-generation multivalent respiratory virus vaccines using proprietary Molecular Clamp technology
Commenced Phase I clinical study of bivalent vaccine targeting both Respiratory Syncytial Virus (RSV) and Human Metapneumovirus (hMPV)
LONDON, Sept. 23, 2024 — Vicebio Ltd (“Vicebio“), a biopharmaceutical company developing novel vaccines against life-threatening respiratory viral infections, today announces a $100 million Series B financing led by TCGX with investment from Goldman Sachs Alternatives, Avoro Ventures, venBio, and participation from UniQuest and founding investor Medicxi.
Vicebio is developing next-generation vaccines for respiratory viruses utilising its proprietary Molecular Clamp technology, discovered at The University of Queensland. This novel technology uniquely stabilises viral glycoproteins in their highly immunogenic ‘prefusion’ conformation, crucial for eliciting strong protective immune responses. This innovative approach enables the production of highly effective vaccines that are easy to manufacture and will be available in ready-to-use prefilled syringes. The Molecular Clamp technology is applicable to a wide range of viruses including Respiratory Syncytial Virus (RSV), Human Metapneumovirus (hMPV), Parainfluenza virus, Influenza and Coronaviruses, as confirmed by promising preclinical and clinical studies.
Vicebio has recently initiated a Phase I clinical trial with VXB-241, its bivalent vaccine targeting both RSV and hMPV viruses that cause a significant burden of disease in elderly patients and those with a weakened immune system. There is currently no commercially available vaccine targeting RSV and hMPV. Initial clinical readouts of the Phase 1 study are expected mid 2025. This financing will also support the acceleration and expand further development of Vicebio’s multivalent pipeline including VXB-251, a trivalent vaccine targeting RSV, hMPV and Parainfluenza Virus 3 (PIV3), a further valency that addresses a significant remaining medical burden in the elderly.
Dr Emmanuel Hanon, Chief Executive Officer of Vicebio, said:“The support from these high-calibre investors underscores the robust data package we have generated for VXB-241, highlighting the significant potential of our proprietary Molecular Clamp technology to develop next-generation vaccines against respiratory viruses.”
Cariad Chester, Managing Partner at TCGX, said: “At TCGX, we are dedicated to supporting the translation of cutting-edge science into transformative medicines and we are thrilled to partner with Vicebio. This is a highly experienced team with a breakthrough technology to address a critical public health need. Vicebio has a unique capability to advance vaccine products that simultaneously provide robust immune responses against multiple respiratory pathogens. We look forward to working closely with the team to bring these important vaccines to the market.”
Dr Giovanni Mariggi, Chairman of Vicebio and Partner at Medicxi, said: “Vicebio has made significant progress in developing its Molecular Clamp platform and successfully advanced VXB-241 which offers unmatched vaccine coverage against respiratory viruses. We are pleased to welcome TCGX, Goldman Sachs, Avoro Ventures and venBio to the syndicate to support the fight against life-threatening respiratory viral infections.”
In connection with the financing, the Vicebio Board of Directors will expand to include Cariad Chester, Managing Partner at TCGX, Colin Walsh, Managing Director at Goldman Sachs and Mark Chin, Partner at Avoro Ventures.
About Vicebio Vicebio is focused on developing next-generation respiratory virus vaccines using the Molecular Clamp Technology. The company was founded with investment from Medicxi and acquired the rights to the Molecular Clamp technology through a license from UniQuest, the commercialization arm of The University of Queensland, Australia. This proprietary technology was developed by Prof. Paul Young, Prof. Daniel Watterson, and Prof. Keith Chappell at UQ. For more information, please visit: www.vicebio.com
About Medicxi Medicxi is a healthcare-focused investment firm with the mission to create and invest in companies across the full drug development continuum. Leveraging deep expertise in drug development and company creation spanning over two decades, medicxi invests in early and late-stage therapeutics with a product vision that can fulfil a clear unmet medical need. For more information, please visit: www.medicxi.com
About UniQuest UniQuest is the commercialisation company of The University of Queensland (UQ). In partnership with UQ researchers, UniQuest creates impact through the commercialisation of UQ intellectual property. Established in 1984, UniQuest’s commercialisation track record positions UQ as the leader of research commercialisation in Australasia. Notable successes include the blockbuster cervical cancer vaccine Gardasil® and start-up companies Spinifex Pharmaceuticals Inc and Inflazome Ltd, which were acquired in two of the largest university start-ups exits in Australian history. UniQuest has also established the Queensland Emory Drug Discovery Initiative (QEDDI), a world-class small molecule drug discovery and development group, dedicated to translating academic biomedical research into drug candidates for partnering. In 2024, UniQuest launched its AUD$32 million UniQuest Extension Fund, an investment fund dedicated to supporting the start-up eco-system at The University of Queensland. For more information, please visit: uniquest.com.au
About TCGX TCGX is a healthcare investment firm dedicated to advancing disruptive medicines and supporting companies that can improve the lives of patients. TCGX invests in pioneering healthcare companies led by exceptional entrepreneurs focused on developing better treatment options for patients. TCGX has investment teams in San Francisco, Palo Alto, and New York City. For more information, please visit www.tcgcrossover.com
About Goldman Sachs Alternatives Goldman Sachs is one of the leading investors in alternatives globally, with over $450 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, life sciences, private credit, real estate, infrastructure, hedge funds, and sustainability. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors, and individuals. Goldman Sachs has over $2.8 trillion in assets under supervision globally as of March 31, 2024.
About Avoro Ventures Avoro Ventures is a global life sciences investment firm, and an affiliated company of Avoro Capital Advisors, an SEC-registered investment manager based in New York City, with over $6.5 billion in capital primarily focused on supporting emerging life sciences and biotechnology companies. For more information, please visit: www.avorocapital.com
About venBio venBio is a life sciences investment firm that partners with industry leaders to build innovative medicines and technologies, with a focus on novel therapeutics for unmet medical needs. For more information, please visit www.venbio.com.
SOURCE Vicebio
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PROVIDENCE, R.I., Sept. 20, 2024 — HavocAI Inc., a leading innovator in autonomous uncrewed surface vessel technology, is excited to announce the successful closing of an $11 million Seed round of funding. The round was led by Scout Ventures, co-led by Trousdale Ventures, and saw additional participation from Outlander VC, The Veteran Fund, BV.VC, Decisive Point, Alumni Ventures, and New North Ventures. This strategic investment will fuel HavocAI’s mission to enable ultra low-cost autonomous surface vessels to operate at an unprecedented scale across both defense and commercial markets.
“We are thrilled to have such a distinguished group of investors who deeply understand our vision and are committed to supporting us on this journey,” said Paul Lwin, CEO of HavocAI. “This capital allows us to scale our production capabilities and grow our team to meet the increasing demand from both our existing and new customers.”
HavocAI is pioneering the technology needed to allow a single operator to command and control thousands of unmanned assets. The company’s innovative platform is designed to provide significant cost efficiencies, operational reliability, and scalable solutions for a wide range of applications, from defense missions to commercial ventures.
This latest funding will enable HavocAI to expand its production capacity, enhance product development, and accelerate customer acquisition, ensuring that the company remains at the forefront of autonomous uncrewed vessel technology.
“We’re excited to support HavocAI as they continue to push the boundaries of what’s possible in USV technology,” said Brad Harrison, Managing Partner, at Scout Ventures. “Their technology has the potential to dramatically transform the industry, and we look forward to seeing the impact they’ll make.”
For more information on HavocAI and its groundbreaking technology, visit Havocai.com.
About HavocAI: HavocAI develops ultra low-cost uncrewed surface vessels and software that enable a single operator to command and control thousands of unmanned assets, providing scalable and efficient solutions for both defense and commercial markets.
SOURCE HavocAI
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SPRINGDALE, Ark., Sept. 20, 2024 — StartupNWA, an initiative of the Northwest Arkansas Council, is accepting applications for its October 2024 VC Immersions series. Scheduled for Oct. 29-30, this series connects startups with leading venture capitalists to secure early-stage funding, gain access to mentorship and build relationships. As the first and only initiative of its kind in the nation, the series aims to bridge the gap between investors and emerging startups, fostering innovation and growth in underserved markets.
“The VC Immersions series is poised to reshape the venture capital landscape by expanding opportunities beyond traditional coastal hubs,” said Serafina Lalany, executive director of StartupNWA. “With nearly 75% of venture capital concentrated in California, New York and Massachusetts, StartupNWA aims to open opportunities for early-stage startups in Arkansas and the Heartland.”
Expanding from the successful February pilot event, the series will feature one-on-one pitch meetings between startups and visiting VC firms. The 30 confirmed VC firms represent over $4 billion in assets under management, hailing from eleven states and Washington, D.C. The full list can be found here, but notable participants include:
All applicants will be added to StartupNWA’s deal database, reaching 100+ institutional investors nationwide.
Key dates for the program include the application deadline of Sept. 30, with selection announcements the second week of October.
Further details, including the full schedule and investor lineup, will be announced closer to the event.
How to apply: Startups from all over the U.S. are encouraged to apply, with a particular focus on those in the Heartland. Location in Northwest Arkansas is not required.
About the Northwest Arkansas Council Founded in 1990 by Sam Walton, J.B. Hunt, Don Tyson and several other business leaders, the Northwest Arkansas Council serves as a regional convener for economic and community initiatives. The Council excels at identifying challenges and championing solutions to enhance the prosperity of the Northwest Arkansas region. Key initiatives include work to advance quality of life, attract talent, improve the region’s workforce, create job opportunities, upgrade infrastructure and keep up with the region’s impressive growth. For more information, visit www.nwacouncil.org.
SOURCE Northwest Arkansas Council
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Audience targeting on ad platforms has become more algorithm-based and growth leaders know that creative is the #1 lever for success. This has led to the rise of the creative strategist—a new role responsible for bridging the gap between the analytical and creative sides of marketing. With Motion, creative strategists can research ad trends, analyze performance, and get inspired with new ideas to maximize the revenue impact from creative.
Since launching in 2021, Motion has been adopted by top performance advertisers in the ecommerce and direct-to-consumer space. Ecommerce brands like HexClad, Vuori, True Classic, Jones Road Beauty, and Ridge use Motion to analyze over $6B in media spend every year.
“Motion’s customers are the best-of-the-best in paid social and the creative strategist is at the core of their workflow. Our goal is to make the creative strategist role more approachable for everyone by building the tools they need to ship more winning ads,” said Reza Khadjavi, the CEO at Motion.
In the last year, Motion doubled its headcount from 25 to 50 employees and has grown to over 1,000 customers in the direct-to-consumer and ecommerce industry, as well as the B2B SaaS and consumer app verticals.
In addition to its creative analytics tools that help advertisers understand top-performing ads and visualize trends, Motion released today a new product called Creative Research that extends its utility deeper into the research side of ad production.
With Creative Research, brands can track competitors on paid social. This helps brands monitor new ads launched by competitors, build a swipe file with ads from Facebook and TikTok, and analyze the media mix, messaging, and landing pages of top competitors.
“Motion doesn’t just provide information—it actively helps teams make better decisions and fosters a pathway for innovation, rather than simply iterating on the same ideas,” says Inovia Partner Karam Nijjar. “The team’s experience uniquely positions them to become the command center for creative strategy within marketing organizations.”
Motion also announced today that the popular YouTube and advertising industry influencer Dara Denney is joining the company as its Chief Evangelist. In her role, Dara Denney will advise on product direction, create educational content for Motion’s customers, and help train the next generation of creative strategists.
Motion is hiring across the board for engineering, product management, marketing, customer success, and sales roles. Visit Motion’s careers page for more information.
About Motion Motion is the command center for creative strategists.
With Motion, creative strategists get help at every step of their workflow including visual analysis of top-performing ads, competitor tracking, research tools, and automated recommendations to help prioritize what to ship next.
Motion’s customers include some of the most prominent advertisers in paid social. Brands like HexClad, Vuori, True Classic, Jones Road Beauty, and Ridge use Motion to analyze over $6B in media spend every year.
About Inovia Capital Inovia Capital is Canada’s leading full-stack software investor, partnering with founders to build impactful global companies. With three investment strategies—Discovery, Venture, and Growth—the team leverages an operator-led mindset to provide entrepreneurs with multi-stage support and access to a worldwide network. Inovia manages over US$2.5B with operations in Montreal, Toronto, Waterloo, Calgary, the Bay Area, and London. For more information, visit inovia.vc.
Canaan Partners Leads Round to Establish SAFIRE™ Technology as New Benchmark for Battery Safety
KNOXVILLE, Tenn., Sept. 19, 2024 — Safire Technology Group, Inc. (“Safire Group”), today announced $8 million in new financing led by Canaan Partners, with participation from Correlation Ventures, Higher Life Ventures, Ajinomoto Co., Inc., Automotive Ventures, Outpost Ventures, Potomac Angel Capital, and MaC Venture Capital. This Pre-Series A priced round of financing brings total funding to $11 million and fuels continued development of the company’s Safe, Impact-Resistant Electrolyte (SAFIRE™) technology to transform the safety benchmarks of Lithium-ion (Li-ion) batteries across government and automotive industries. Canaan’s Hrach Simonian will join co-founders John Lee and Mike Grubbs on the board of directors.
“We are grateful to have a highly regarded, deeply experienced, and values-aligned investor in Canaan, and we are eager to continue building Safire Group together,” said Mike Grubbs.
“Safire Group is revolutionizing Li-ion battery technology with a focus on safety. Their innovative solutions are addressing the critical issue of battery volatility and setting new standards in the industry,” said Hrach Simonian, General Partner of Canaan Partners. “Safety should be intrinsic to battery design, not an afterthought. Safire Group’s commitment to redefining how these batteries are used in mobility and government applications promises to unlock unprecedented opportunities on a global scale.”
SAFIRE is the world’s only patented and proprietary drop-in additive for Li-ion batteries that prevents fires through an instantaneous liquid to solid transformation upon kinetic impact, such as an electric vehicle (EV) crash or ballistic event. During an impact, Safire Group’s shear thickening electrolyte technology enables the battery to resist deformation and prevents a short circuit – providing EV makers with lightweight crash protection and enabling Li-ion batteries to be used in novel ways.
Invented after nearly a decade of research and development by the U.S. Department of Energy’s Oak Ridge National Laboratory (ORNL), SAFIRE is currently being deployed by the company in four distinct use cases across broad domains: a ruggedized electric motorcycle, a rapidly deployable sensor tower, an unmanned ground vehicle, and multifunctional body armor.
“There is significant demand across the government to integrate SAFIRE technology into novel, ruggedized applications. This financing allows us to expand our operations in the Knoxville, Tennessee area, continue collaboration with ORNL, and further demonstrate the benefits of SAFIRE in government and automotive markets,” said John Lee, CEO of Safire Group. “We are excited about our partnership with Canaan and the opportunities it brings for the next stages of growth in deploying safety solutions for energy systems. Our focus remains on protecting people and critical assets while driving innovation in safety.”
About SAFIRE
Safire Group is a venture-backed company developing advanced Li-ion battery technologies for government and automotive markets. The company’s core technology, SAFe Impact Resistant Electrolyte (SAFIRE™), is the world’s only patented and proprietary drop-in additive for Lithium-ion (Li-ion) batteries that prevents fire through an instantaneous liquid-to-solid transformation upon kinetic impact, such as an electric vehicle (EV) crash or ballistic event. For more information, visit: www.safire.co.
The $18M Series A will help the company further develop its proprietary returns recommerce technology solutions used by brands & retailers.
NEW YORK, Sept. 19, 2024 – Rebelstork, North America’s largest and most trusted baby gear returns recommerce marketplace, today announced a new round of investment that will help the company to build upon its innovative solution to the baby gear industry’s pressing returns crisis. Launched in 2020, Rebelstork’s proprietary technology diverts the largest assortment of overstock and retailer-returned baby gear away from landfills and into customers’ homes at a fraction of the retail price. The $18M Series A was led by Maveron Ventures with participation from Serena Ventures, Marcy Venture Partners, and existing seed investor Golden Ventures.
Emily Hosie, Founder and CEO of Rebelstork (CNW Group/Rebelstork)
The rise of online shopping and the convenience of purchasing items without physically seeing them has led to a surge in returns across all retail verticals, costing the industry more than $800B annually and the baby gear industry, specifically, close to $16B annually. Rebelstork is the first company to effectively build the technology required to address the challenge of returns and overstocks, saving over 12 Million pounds of waste from landfills annually. Through the development of several proprietary technologies and processes, Rebelstork has emerged as the gold standard for baby gear returns recommerce. By giving each item a unique identifier and implementing a rigorous quality-check process dubbed the “Rebby Pinky Promise,” Rebelstork provides supply partners with a sustainable solution, addressing their challenges and concerns while creating a new revenue stream. This innovative approach ensures that only quality-approved returns are resold, diverting these products from landfills and promoting a circular economy.
To date, Rebelstork is partnered with more than 2,500 brands across 45 categories (including leading baby brands Million Dollar Baby, BabyBjörn, 4moms, and Ergobaby), as well as mass retailers, including Target to create new revenue streams and mitigate return costs using the Rebelstork technology and marketplace. The company has also seen significant traction among a new generation of shoppers who are driving the demand by opening their minds to quality-checked open-box (never used, simply returned) discounted goods.
“We are seeing an exciting shift in the retail industry where global iconic brands and mass retailers are majorly stepping up to change the bad habits in their returns supply chain,” said Emily Hosie, Founder and CEO of Rebelstork. “At the same time, we’re seeing a new generation of shoppers embracing returns recommerce in a big way. Rebelstork has created the solution. Our innovative technology and marketplace was created to bridge the gap by offering a sustainable and cost-effective solution for both parents and brands.”
At a time when customers are becoming more price sensitive, Rebelstork’s REV™ pricing technology has become the AI market-maker in the price-reduced baby gear market by providing the real-time pricing strategy to optimize ROI. Additionally, Rebelstork’s unique deal batch technology system streamlines the returns recommerce process, providing full transparency and comprehensive insights for their partners into the handling of their products.
“As the returns crisis continues to escalate, finding sustainable solutions will be crucial for both businesses and consumers in the long run,” said Jason Stoffer, General Partner at Maveron. “Emily and the Rebelstork team invented a new market while creating impressive technology to do it effectively. They are proving to the retail industry that there is a solution that is better for our planet while also generating a new revenue stream for partners. Their innovative approach benefits savvy shoppers and contributes to a more environmentally conscious and socially responsible generation of consumers.”
Female-founded and proudly certified as a B-Corporation, Rebelstork was established to empower shoppers, brands, and retailers to participate actively in the circular economy. Rebelstork plans to use the Series A investment to launch new products, expand operations, and grow the team.
About Rebelstork: Rebelstork is on a mission to make Parenting Lighter™, providing premium value for parents and creating a more sustainable world for the next generation. Founded in 2020, Rebelstork is the largest returns recommerce marketplace for baby gear in North America. Female-founded and a certified B-Corporation, Rebelstork was created to empower parents, brands, and retailers to safely and easily participate in the circular economy. Each item is quality-checked, and their proprietary technology ensures the largest assortment of open-box and overstock baby gear is diverted away from landfills and into customers’ homes at a fraction of the retail price. For more information, visit rebelstork.com or contact [email protected].
SOURCE Rebelstork
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Amy Schumer, Connie Britton, Brandi Chastain, Meena Harris, Sheryl Sandberg, Tekedra Mawakana, and Tory Burch among the bold name investors committed to Midi’s goal of closing the women’s healthcare gap
LOS ALTOS, Calif., Sept. 19, 2024 — Midi Health, the fastest-growing virtual care clinic for women 35+, today announced that a high-powered group of women leaders and icons spanning entertainment, professional sports, media, beauty and fashion, health and wellness, technology, and business have joined Midi’s oversubscribed $63M Series B round via a $5M Special Purpose Vehicle (SPV), formed and managed by Midi investor Operator Collective. SPV investors are joining other Series B investors including Emerson Collective, GV (Google Ventures), Memorial Hermann Health System, SemperVirens, Felicis, Icon Ventures, Black Angel Group, Gingerbread Capital, Ingeborg Investments, G9, and Operator Collective.
Amy Schumer, Connie Britton, Brandi Chastain, Meena Harris, Sheryl Sandberg, Tekedra Mawakana and Tory Burch among the bold name investors committed to Midi’s goal of closing the women’s healthcare gap.
Midi Health Series B round investors and founders, pictured from left: GV Executive Venture Partner Cathy Friedman, Midi Health Co-founder Kathleen Jordan, MD, Midi Health Co-founder Jill Herzig, Felicis Ventures General Partner Victoria Treyger, Operator Collective Founder Mallun Yen, Midi Health Co-founder Sharon Meers, Midi Health Co-founder and CEO Joanna Strober, Emerson Collective Managing Partner Fern Mandelbaum, SemperViren Partner Allison Baum Gates, GV General Partner Frederique Dame.
Nearly 30% of the female population in the United States is over 35, and 75 million women are currently perimenopausal, menopausal, or postmenopausal. While women generally live longer than men, they spend on average 25% more of their lives in poor health. This health disparity is even more pronounced for women of color and those from lower socioeconomic backgrounds. Midi is the leading digital health company focused on providing care for women in midlife and covered by insurance in all 50 states. More than 85% of women will experience symptoms that can negatively impact their quality of life and longevity, which can last more than a third of a woman’s life, beginning as early as mid-30s. Given 80% of OBGYNs have no meaningful training in this area and there is a general practitioner shortage in the US, the vast majority of women suffering do not receive any treatment for their symptoms. Midi is working to change that.
Midi investors understand the massive unmet needs in the $600 billion women’s health market today and the power of strong women leaders coming together to invest in companies that need to exist while also expanding wealth creation and generating financial returns. Among the new investors are leaders within their respective fields including actors/producers Amy Schumer, and Connie Britton, Phenomenal Media’s Meena Harris, soccer star Brandi Chastain, fashion designer/entrepreneur Tory Burch, investor and Angel City FC co-founder Kara Nortman, Sandberg Bernthal Venture Partners, the venture fund run by former Meta COO Sheryl Sandberg and her husband, Tom Bernthal, Waymo Co-CEO Tekedra Mawakana, PagerDuty CEO Jennifer Tejada, Stripe executive Claire Hughes Johnson, and Toast CFO Elena Gomez. Top executives from OpenAI, Atlassian, Databricks, Cloudflare, Google, Apple, Amazon, Meta, Life360, Calm, Universal Music Group, and Warner Media also joined the round. In total, 80 investors participated with individual check sizes ranging from $10K – $500K+. Reflecting Midi’s focus on this demographic and the importance of culturally responsive care, the investor group includes women aged 35 to 60+ and 40 percent people of color.
“As an early seed investor in Midi, we’ve been waiting for the right moment to spearhead this SPV,” said Mallun Yen, Founder and Managing Partner of Operator Collective. “We intentionally convened leaders across major industries that are outside the typical circles of venture capital. By design, it reflects our unique collective venture model in action. There’s power in investing beyond just a brand endorsement, and we’re proud to have created an access point that enables these leaders to be directly involved in Midi’s future growth.”
“This is truly an example of women investing in companies such as Midi that they want and believe need to exist in the world, putting their own money behind their belief in our goal of closing the care gap for perimenopause, menopause and beyond,” said Midi Health CEO and Co-Founder Joanna Strober. “It’s exciting to see women of such a wide array of fields and ages at the top of their game coming together to help build solutions in the marketplace that will effect change for other women.”
“Just like you, I have noticed a clear gap in companies that prioritize the needs of women and address the challenges they face when seeking healthcare. Midi is breaking new ground for women 35+ as their healthcare needs evolve,” said Amy Schumer. “The SPV investment opportunity was a unique way for leaders across different industries to come together to ensure women’s health remains at the forefront of innovation, rather than as an afterthought as it has for so long. It’s important to invest in companies that impact us personally and be a force for change for women everywhere.”
About Operator Collective Launched in 2019, Operator Collective is the early-stage B2B venture fund and community backed by tech’s most exceptional operator LPs and top-tier institutions. OpCo’s proprietary Collective Venture Model® platform enables portfolio founders to efficiently tap into 200+ active senior operating executives to help build and scale their companies, reach potential enterprise customers, and connect with talent networks for potential executive or board member hires.
About Midi Health Midi Health is the fastest growing virtual care clinic focused on women navigating midlife hormonal change and beyond. With treatment protocols created by world-class medical experts in perimenopause and menopause, delivered by clinicians trained in women’s midlife health, Midi Health provides patients with personalized care plans that include hormonal and non-hormonal medications, supplements, lifestyle coaching and more. All services are covered by insurance, and conveniently accessible through telehealth visits and 24/7 messaging. To learn more, visit www.joinmidi.com.
Media Contacts: Aimee Grove for Midi Health [email protected]; Ph: 415.706.1906
