NEW YORK, May 14, 2024 — Sharp Alpha Advisors announced the closing of Sharp Alpha Fund II, an oversubscribed $25 million venture capital fund investing in early-stage sports, gaming, and entertainment businesses.
Existing investments in Fund II include C15 Studio, which recently emerged from stealth mode as the operator and distributor of Formula 1’s new streaming channel. Previous investments include Almost Friday Media, Jackpot.com, and Betcha (acquired by Vivid Seats).
The fund targets seed investments ranging from $1 – 2 million. Sharp Alpha also operates a co-investment vehicle that provides limited partners the ability to invest additional capital in select deals alongside the fund.
Managing Partner Lloyd Danzig was recently named to Business Insider’s Top Venture Capitalists in Sports and ELG’s 40 Under 40. He is frequently featured by CNBC, The New York Times, and The Wall Street Journal.
The fund is backed by public companies, US financial institutions, pro sports team owners, family offices, top venture capitalists, and funds of funds, among others.
According to Danzig, there is a significant opportunity at the intersection of sports, gaming, media, and technology. “The competitive entertainment category is experiencing exponential growth but at the same time is desperate for innovation that early-stage companies are best positioned to supply.”
The fund has exceeded its $25 million capital raise target and expanded the size of its deal team.
Commenting on current market conditions, Danzig explained, “we are entering the most favorable period in the last 15 years to bet on great founders.”
Sharp Alpha’s advisory board includes Keith Horn, founder of Loring Capital Advisors and former COO of Elliott Management and Global Head of Leveraged Finance at Merrill Lynch; Emanuel Pearlman, the former Chairman of Empire Resorts and board member at several public companies; Daniel Bernard, Founder and Chairman of Redwood International Sports; Roy Behren, the President and Chief Investment Officer of a $5.2 billion asset manager; and Don Kornstein, the Vice Chairman of Caesars Entertainment and former executive at numerous successful gaming companies.
In addition to investment capital, the firm provides portfolio companies with a suite of resources and opportunities spanning fundraising, revenue generation, brand awareness, commercial strategy, financial planning, and product development.
About Sharp Alpha Advisors: Headquartered in New York City, Sharp Alpha Advisors is a venture capital firm specializing in sports, gaming, and entertainment.
The Successful Closes Increase the Firm’s AUM to More Than $7.5 Billion
CHAPEL HILL, N.C., May 14, 2024 — TrueBridge Capital Partners, a venture capital investment firm, has raised $1.6 billion in commitments across five investment vehicles focusing on venture funds and technology companies: TrueBridge Capital Partners Fund VIII, TrueBridge Seed & Micro-VC II, TrueBridge Direct Fund III, TrueBridge Secondaries I, and TrueBridge Blockchain I. The funds received support from both existing limited partners and new investors, including foundations and endowments, pension funds, family offices, and high-net-worth individuals. With these closes, the Firm manages more than $7.5 billion in assets.
TrueBridge Capital Partners Fund VIII, L.P.
TrueBridge Capital Partners today announced the close of its eighth venture capital fund of funds, Fund VIII, with $884 million in commitments. The fund surpassed its fundraising target with support from new and existing investors. Over the history of the Firm, TrueBridge has maintained a disciplined strategy of investing in top-performing, access-constrained venture capital firms focused primarily on early-stage technology companies. Fund VIII will continue this strategy by concentrating commitments in high-performing venture firms while ensuring diversification by sector and vintage.
“We are proud to continue our partnerships with high-performing managers and companies that are driving innovation,” said Edwin Poston, General Partner at TrueBridge Capital. “Amid current market conditions, we have seen a flight to quality across venture, where only the best founders, ideas, companies, and funds have the ability to raise capital. We are grateful for the continued support from our limited partners, enabling us to empower venture capital investors and technology companies that are shaping the future.”
TrueBridge Seed & Micro-VC II, L.P.
Seed & Micro-VC II held a final close with $189 million in total commitments. TrueBridge expanded its strategy into the seed space in 2011 and launched its first dedicated seed & micro-VC fund of funds in 2019. Building on the success of its predecessor, Seed & Micro-VC II represents the Firm’s continued commitment to investing in seed and micro-VC managers focused on nurturing companies at the earliest stages of formation.
TrueBridge Direct Fund III, L.P.
Direct Fund III held a final close with $253 million in total commitments. Direct Fund III is the Firm’s third investment vehicle investing directly in select mid- to late-stage technology companies alongside respected venture managers. The Firm’s deep relationships with its fund managers provide early access to crucial information, deal flow, and introductions to top management. TrueBridge began investing directly in companies in 2008 and launched its first dedicated fund in 2015.
TrueBridge Secondaries I, L.P.
TrueBridge launched its first dedicated secondaries fund, Secondaries I, which held a final close at $230 million in total commitments. Secondaries I aims to build a blended portfolio of top-performing mid- to late-stage companies and venture fund stakes through the rapidly growing venture secondaries market. Leveraging the Firm’s relationships and knowledge of the venture ecosystem, Secondaries I is poised to capitalize on opportunities within this evolving market.
“The growth of the venture secondaries market is providing limited partners with new and expanded access to high-performing assets with enhanced visibility and potential shorter remaining hold periods in addition to possible discount pricing,” said Andrew Winslow, Partner at TrueBridge Capital. “The launch of our dedicated secondaries fund underscores our commitment to capitalizing on this growing market for limited partners.”
TrueBridge Blockchain I, L.P.
Blockchain I, TrueBridge’s first dedicated blockchain fund, held a final close at $62 million in total commitments. With Blockchain I, TrueBridge aims to curate a blended portfolio of top-performing blockchain-focused venture funds and high-potential companies within the sector. The dedicated fund enables the Firm to capitalize on underlying market momentum while meeting limited partner demand in a complex and evolving sector.
“We recognized the potential of blockchain technology early on, and this dedicated fund underscores our ongoing commitment to this transformative sector,” said Mel Williams, General Partner at TrueBridge Capital.
Since its founding in 2007, TrueBridge has maintained a focus on investing solely in venture capital opportunities. This includes commitments to access-constrained venture capital managers and direct investments in some of the highest-performing tech startups alongside select managers. Over the past decade, TrueBridge has deepened its platform of venture capital opportunities, establishing funds to support both of these strategies.
About TrueBridge Capital Partners
TrueBridge Capital Partners is a venture capital investment firm managing more than $7.5 billion in assets. TrueBridge focuses solely on venture capital, investing in top-performing, access-constrained venture funds focused primarily on early-stage IT, as well as directly in select venture and growth-stage technology companies. The Firm builds portfolios to help partners access opportunities in venture capital through its established commingled funds as well as customized solutions. TrueBridge is the data partner behind Forbes’ Midas List, Midas Seed List, Midas List Europe, and Next Billion-Dollar Startups, and is a regular venture-focused contributor on Forbes’ platform. The firm was founded in 2007 and is headquartered in Chapel Hill, North Carolina. For more information, please visit www.truebridgecapital.com.
TrueBridge Capital Partners · 1011 S. Hamilton Road Suite 400 · Chapel Hill, NC 27517 · 919.442.5201 · truebridgecapital.com
New AI Tool Empowers Litigators Unprecedented Transcript Analysis Across Entire Library
LOS ANGELES, May 14, 2024 — Steno, the tech-enabled provider of legal support and court reporting services, launched a first-of-its-kind generative AI tool for transcript analysis called Transcript Genius, which revolutionizes how attorneys interact with transcripts.
With the unveiling of Transcript Genius, Steno also announced the completion of $46 million in additional capital.
Transcript Genius transforms the traditional, labor-intensive process of transcript analysis, offering a much-needed solution that saves time while enhancing case strategy. The tool enables dynamic interaction with a library of transcripts in a case, empowering litigators to efficiently parse testimony to identify key facts, inaccuracies, and conflicting information within seconds.
This new potential to dynamically engage with transcripts enables litigators and legal teams to quickly access customized insights, streamlining their workflow and uncovering details in testimony that might otherwise be overlooked. With the ability to ask their own questions about testimony, attorneys will be better equipped to make informed decisions faster than ever before.
“At Steno, we recognize the exhaustive effort litigators put into reviewing transcripts. Transcript Genius is our response to their call for smarter, more efficient tools. It’s about empowering them to maximize their time and talents in pursuit of justice,” said Dylan Ruga, Steno’s co-founder and president.
This sentiment is echoed in the legal community, with early adopters praising the platform’s capacity to provide instant, relevant insights.
“Adopting Transcript Genius into our firm’s practice has been a game-changer. What used to take hours now takes minutes, and we’re more confident than ever in our case strategies,” said Cindy Hickox, an early beta user and seasoned litigator.
Notable features of Transcript Genius include:
Gives litigators the capability to ask any question, providing customizable responses tailored to specific case needs
The ability to highlight inconsistencies and discrepancies within and between transcripts with just a click
Deeper analysis of testimony to strengthen arguments, including page and line references for manual follow-up
An all-in-one platform feature for seamless integration into attorney workflows
The platform’s power to adjust the focus, detail, and length of its answers enables litigators to drill into the aspects that matter most. Whether preparing for trial or strategizing for a settlement negotiation, Transcript Genius turns hours of transcript review into minutes of targeted analysis.
To learn more about Transcript Genius and to join the Steno Beta Program, visit https://steno.com/genius
About Steno: Founded on the simple idea that deposition services shouldn’t be an obstacle when trying to win a case, Steno is at the forefront of the court reporting and legal technology industries. Steno focuses on providing attorneys with innovative tools and options that overcome the technological and financial hurdles that arise when proving a case. As a partner in the pursuit of justice, Steno understands the unique challenges faced by legal professionals and is committed to delivering practical, impactful solutions.
To learn more about Steno or to request information about its services, visit www.steno.com
Interactive Platform Offers Mentorship and Investment Opportunities to Aspiring Young Business Leaders
LOS ANGELES, May 14, 2024 — Newpreneurs announced its upcoming groundbreaking debut as a virtual reality show created by serial entrepreneur, business mogul, and dedicated futurist Victor Green. Designed to democratize the entrepreneurial journey for much younger thinkers, the show provides a dynamic platform for young Gen Z innovators who can pitch their ideas via compelling 90-second videos – all in the hopes of securing significant funding of up to $250,000 from a panel of Angel Investors.
Are YOU our next Newpreneur?
Photo of Victor Green
“Newpreneurs is more than just another reality show – it’s a movement,” said Victor Green. “We are dedicated to uncovering the brightest young minds across the nation, offering them starting capital, but also guidance and exposure. The show leverages the latest tech to connect participants with both Angel Investors and mentors, simulating a high-stakes boardroom environment in an accessible digital format to help uncover the great ideas of tomorrow.”
Newpreneurs: The Show
Created specifically for middle, high school and college students who are often overlooked by traditional investment channels, Newpreneurs nurtures a younger demographic for their business acumen, while also empowering them to step confidently onto the entrepreneurial stage. There is no fee to sign up, and key features of the show include:
Virtual Reality Experience: Participants use avatars to pitch in a digital boardroom, making entrepreneurship accessible, safe, and personable.
Significant Funding Opportunities: Aspiring entrepreneurs can secure up to $250,000 in seed capital to bring their innovative ideas to life.
Expert Mentorship: The show offers extensive mentoring from industry leaders, ensuring participants are well-prepared for their upcoming entrepreneurial journey.
Weekly Episodes: Each week features two new young entrepreneurs, with daily episodes leading up to the final pitch and investment decision.
Mentoring: Not ready to sign up and pitch or want to just learn from experts on how to make a successful business, Newpreneurs.com offers free mentoring simply for signing up.
“Newpreneurs fosters a supportive community for young creators. And we provide a safe yet exciting platform where their ideas are heard, refined, and celebrated,” Green explained.
Newpreneurs: The Leaders
Victor Green: Victor is the author of the book “How to Succeed in Business – by Really Trying.” With over 50 years in various industries, Victor brings unmatched business acumen to guide young entrepreneurs.
Brehnen Knight: CMO and serial entrepreneur, Brehnen has multiple degrees and interests in Cultural Anthropology, Psych-Bio, International Marketing, and Operational Management. Specializing in Gen Z and Gen A marketing, Brehnen’s expertise in advertising and problem-solving directly supports participant success.
Dara Trujillo: A veteran in the industry with a wide-reaching career including significant tenure at Walt Disney Company, Dara leverages her entertainment and business development skills to enhance participant pitches and viewer engagement.
Newpreneurs: How to Participate
Visit Newpreneurs Website (newpreneurs.com): Interested participants should go online for details on how to directly submit a 90-second video pitch of their product or idea.
Digital Selection Process: Selected candidates will be invited to join the boardroom for a chance to pitch to real investors.
Viewership Access: Episodes are available daily, allowing the public to gain insights into the entrepreneurial process and learn from real-time feedback and investor decisions.
Founded by Victor Green, Newpreneurs bridges the gap between young potential and real-world opportunity. Using a virtual reality platform, the show makes entrepreneurial education and investment accessible to young entrepreneurs , fostering the next generation of business leaders – one great idea at a time. Explore the show at: www.Newpreneurs.com. And follow them via social media: Meta, Instagram, TikTok, LinkedIn, YouTube, X.
NEW YORK, May 14, 2024 — Tiburon Subsea has launched its patent pending autonomous underwater thruster control technology, JETTE.
JETTE is a pioneering in-line dual vectored subsea robotic controlled propulsion system designed to meet the evolving demands within the underwater robotics market.
Tiburon Subsea JETTE UUV Control Thruster System.
Tiburon Subsea is pioneering a new wave for the future of underwater robotics.
JETTE Thruster Equipped AUV.
This revolutionary design employs dual fore and aft thrusters working independently and in tandem giving Unmanned Underwater Vehicles (UUV) enhanced capabilities. The JETTE system offers increased speed, variable controls, maneuverability, durability, and redundancy over traditional UUV’s. This design eliminates the long-standing control plane weak points that have plagued UUV’s. JETTE provides extended hover/dwell/scan abilities and simplifies maintenance while providing redundancy and self-rescue. It is a unique system and an evolution in hydrodynamic efficiency.
Breaking down barriers to emerging technology and facilitating its availability is a mission for Ocean Explorer, Founder and Tiburon Subsea CEO Tim Taylor.
“Autonomous vehicles are opening new frontiers just as satellites have in space. Timely ocean data is a missing link. Renewable energy, climate change remediation, coastal engineering and security will all benefit from this technology. Tiburon’s aim is to democratize access to autonomous robotic tech for stakeholders and caretakers. In facilitating access to data, we will increase awareness, care, and management of our ocean resources and environment in real-time,” states Taylor.
Tiburon Subsea is pioneering a new wave for the future of underwater robotics by developing a platform consisting of proprietary technology, engineering support, training, and logistical services. For more information contact Christine Dennison, [email protected] or 212-744-6763.
WILMINGTON, Del., May 14, 2024 — Highperformr, a GenAI startup, today announced that it has secured $3.5 million in seed funding and launched its product, Highperformr for Teams, a modern social media management platform designed to help B2B businesses maximize their return on investment (ROI) from social media efforts by amplifying their social presence and driving meaningful engagement.
Highperformr Founders Ramesh and Srivatsan (L to R)
The funding round was led by Venture Highway, with participation from Neon, DeVC, and notable angel investors. The investment will be used for R&D to further develop Highperformr’s native AI capabilities and to build a strong distribution network.
“We’re delighted to introduce Highperformr to the market,” said Srivatsan Venkatesan, Co-Founder & CEO, Highperformr. “Our platform is designed to empower B2B businesses to unlock the full potential of social media, driving real ROI and growth. We’re confident that Highperformr’s social selling capabilities can empower teams to leverage social media for lead generation and nurturing, while our GenAI capabilities automate workflows to drive adoption and consistency among users.”
“Growing a pipeline with limited budgets is a challenge many CMOs face,” said Ramesh Ravishankar, Co-Founder & Chief Growth Officer, Highperformr. “The 95% of users who are not actively searching for products online are often overlooked in demand generation strategies. We’re flipping the script by focusing on the 95% of users who are not actively searching for products online, and building a community and target audience that can drive meaningful engagement and conversions.”
Highperformr’s social presence platform, Highperformr for Teams, is designed to help B2B companies streamline their social media workflows; support social publishing, scheduling, and crossposting; team collaboration with approval workflows; brand building through employee advocacy; social selling; and Social AI-driven analytics and insights.
The founders, Sri and Ramesh, come with experience in building successful CRM products and growing businesses at Freshworks and Google. They’re driven by the need to innovate and help businesses engage with their customers effectively and scale efficiently.
“With the seed round of funding, and the positive response to our product, Highperformr is set to shake up the social CRM market and build a product that will leverage LLM and GenAI technology to redefine how B2B companies engage with their audience and drive growth,” said Sri.
About Highperformr
Highperformr is a startup leading the way in GenAI-driven social presence for B2B businesses. Highperformr’s Social AI platform helps businesses boost their ROI on social media by amplifying their social presence and driving meaningful engagement through social platforms.
Highperformr is on a mission to redefine social CRM, particularly leveraging LLM. The founders Sri and Ramesh come with experience in building successful CRM products and growing businesses at Freshworks and Google, and are passionate about reshaping how businesses engage with their customers. Highperformr was founded in July 2023 with its headquarters in Delaware, US and offices in India.
Series B funding will propel product innovation and market expansion to benefit hospitals and health systems.
NEW YORK, May 14, 2024 — SmarterDx, the leader in clinical AI for revenue integrity and care quality, today announced it has secured $50 million in Series B funding led by Transformation Capital. The round also includes continued investments from Bessemer Venture Partners, Flare Capital Partners and Floodgate Fund, bringing total funding to $71 million to date. The investment will drive product innovation that will create additional value for health systems, as well as support scale as the company expands.
SmarterDx, which raised seed funding in 2022, leverages clinical AI that uniquely understands clinical reasoning and provides complete auditability to enable health systems to close their revenue integrity gap. Small errors or omissions in clinical documentation can lead to missed, rejected or underpaid claims. SmarterDx remedies this by providing second-level reviews of every patient chart, enabling hospitals and health systems to safeguard millions in revenue leakage and ensure that care quality is accurately represented.
“SmarterDx transforms clinical data into insights that are fully attributable and actionable. This has distinguished our product in a healthcare landscape where many AI solutions have been built on hype, have poorly defined value and focus on replacing people,” said Dr. Michael Gao, co-founder and CEO of SmarterDx. “Our focus has always been empowering clinical documentation integrity and coding teams to capture a more accurate, more complete patient picture and enabling providers to focus on patient care rather than paperwork.”
With this investment, SmarterDx will add new clinical and financial data integrations and continue to refine its proprietary algorithms that identify new revenue and quality opportunities for customers. SmarterDx finds an average of $2 million in net new annual revenue per 10,000 patient discharges for its clients, which include some of the largest hospitals and health systems across the U.S. With a 100% client retention rate, a 5:1 ROI, and a KLAS client satisfaction score of 98, SmarterDx has quickly established itself as a leader in the healthcare revenue cycle solutions market.
“We pursued a partnership with SmarterDx after hearing the profoundly positive feedback from the market,” said Todd Cozzens, managing partner, Transformation Capital. “After spending time with the leadership team, we knew we wanted to be part of their story. Not only does this company have a solution that solves a complex problem that healthcare has long grappled with, but they are just getting started. There’s much more that their clinical AI can achieve. We believe that revenue cycle management is the next big health tech category as modern AI is ideal for understanding and automating the labyrinthic reimbursement and payment regime of our $4.5 trillion annual healthcare spend.”
About Transformation Capital Transformation Capital is the largest growth equity firm 100% dedicated to investing in and helping grow digital health companies. The firm was founded on the premise that investing in healthcare requires both a sophisticated understanding of the healthcare system, including the prevailing market forces, inherent structural inefficiencies and resulting opportunities, as well as deep connections with decision makers across key providers, payers, employers, governments, digital health innovators and healthcare consumers. Transformation Capital has partnered with category defining digital health companies across the ecosystem, including Datavant, Memora Health, CodaMetrix, Dexcare, Capital Rx, Sword, Grow Therapy, and Parachute Health.
About SmarterDx SmarterDx is the clinical AI company that discovers, delivers and drives better quality, revenue and care. We use AI to understand each patient’s clinical journey, helping hospitals tell the most accurate and complete story to close their revenue integrity “differential” gap. The ability to implement in weeks, ingest more than 30,000 data points per chart, and deliver a risk-free ROI makes SmarterDx the ultimate hospital revenue integrity partner. For more information, please visit smarterdx.com.
CONTACT: Kim Mohr Amendola Communications for SmarterDx [email protected] 949-322-3733
NAPA COUNTY, Calif., May 14, 2024 — Lumo, a connected irrigation company that helps growers save time, money, and water with patented smart-valve technology, has raised a $7 million funding round from Active Impact Investments and Fall Line Capital.
As Lumo expands both their product offering and geographic footprint, they will continue their relentless focus on providing farmers with world class support both online and in the field. “That wouldn’t be possible without incredible venture capital partners like Active Impact and Fall Line Capital,” added Devon Wright, Lumo CEO & Founder.
The funding will enable Lumo to continue investing in product research and development, and rapid go-to-market expansion, bringing truly accountable technology to every element of irrigation operations and delivering on Lumo’s mission to help protect the future of farming. Dozens of world renowned growers in Napa, Sonoma, and the Central Coast are already using Lumo One smart valves to automate their irrigation, monitor flow rates remotely, and gain better visibility into the performance of their irrigation systems.
“As labor costs continue to rise, groundwater regulations continue to pass, and the impacts of climate change continue to be felt, time is of the essence,” said Devon Wright, Lumo’s CEO. “Growers need to move quickly to take tighter control of their water management practices, irrigate with greater precision, get ahead of regulations, and eliminate waste from their operations. Our future food and water security depends on upgrading our irrigation infrastructure and improving our water stewardship as soon as we possibly can.”
Active Impact, Canada’s largest climate tech seed fund, was a natural fit for Lumo given their dedication to building climate resiliency and sustainability into our food and water systems, catalyzing change, and solving the most urgent environmental issues facing humanity today.
“Acute water stress affects half the world’s population and is accelerating with climate change. Lumo addresses the shockingly high amount of inefficiency in agricultural irrigation, which is the largest use of our world’s water today,” said Mike Winterfield, Founder and Managing Partner at Active Impact, who will also be joining Lumo’s Board of Directors. “With fast-paced customer adoption, an impressive founding team, and a truly differentiated solution, Lumo is well-positioned to become a market leader in irrigation automation and, in time, the world’s largest system of record for water use data.”
As growers continue to contend with cost pressures and softening revenue, the need for a reliable and trustworthy way to automate irrigations has never been greater. The growers who make technological investments to contain costs and protect their revenue today, will be best positioned to profit tomorrow.
“While automated irrigation is well adopted in row crops, we have not observed that trend in specialty crops due to the unique management needs and the importance of reliability,” said Libby Spalding, Vice President at Fall Line Capital. “Lumo’s system leverages advances in fluid dynamics and connectivity that enables automation in specialty crops. Irrigation management will be key to optimizing production and adapting to volatility of water availability.”
As Lumo expands both their product offering and geographic footprint, they will continue their relentless focus on providing farmers with world class support both online and in the field. “That wouldn’t be possible without incredible venture capital partners like Active Impact and Fall Line Capital,” added Wright.
For more information on Lumo’s smart valve technology and how it’s helping growers save time, money, and water, visit https://lumo.ag/
Media Inquiries Bennett Fitzgibbon VP of Marketing, Lumo [email protected]
About Lumo Lumo is a smart irrigation company that supports growers and tackles water challenges head on using the most advanced water technology available today. The Lumo One smart valve allows growers to precisely control and measure how much water is applied to their crops at all times, reducing labor costs, excess water usage and eliminating irrigation guesswork. We’re proud of what we’ve built at Lumo and the prestigious growers who have become our friends and customers. Our team takes great pride in working to help growers conserve their most precious resources – time, money and water. Learn more by visiting lumo.ag.
SAN FRANCISCO and WAKE FOREST, N.C., May 14, 2024 — Virgo Investment Group (“Virgo”) today announced portfolio company Zippy Shell Incorporated (“Zippy Shell”), one of the largest containerized moving and storage companies in the US, completed a $525 million refinancing. Global investment firm Carlyle (NASDAQ: CG) invested $180 million in the form of preferred equity alongside a new first lien debt facility led by JPMorgan Chase of $345 million. This new investment will provide Zippy Shell with capital to refinance its existing debt and fund strategic growth initiatives, including continued network and fleet expansion, as well as strategic real estate acquisitions.
Zippy Shell provides an alternative to traditional temporary storage and moving options by delivering containers that are dropped off directly at a customer’s location, filled with their belongings on their schedule and then stored at a drop-off site and/or at a company location, or moved to the destination for unloading by the consumer. Zippy Shell has seen steady growth in demand for its services, in particular long-distance moves, and local storage, since its combination with 1-800-PACK-RAT in 2018.
Mark Kuhns, Zippy Shell’s Chief Executive Officer, said, “Our partnership with Carlyle over the last several years has enabled our company to successfully scale and reach new customers. We’re excited to partner with Carlyle once again given their reliability and creativity in helping Zippy Shell achieve its goals. Additionally, we are delighted to be working with JPMorgan Chase to ensure we have the proper debt structure to accomplish our long-term goals. We are thankful to Virgo and its LPs for their continued commitment which has helped lay the groundwork for everything.”
Gareth Taylor, Zippy Shell’s President, and Chief Strategy Officer, said, “This investment comes at a great time for Zippy Shell. We have experienced steady growth rates over the past ten years as demand for containerized moving and storage services has accelerated. This capital will ensure our continued storage facility network and national moving program expansion while continuing to provide great service that our customers have come to expect from us.”
Jesse Watson, Virgo Founder and Zippy Shell Chairman, said, “Since founding Virgo in 2009, we have focused on helping management teams to build and transform their businesses. Zippy Shell continues to outperform, and we are excited about Carlyle’s continued interest and support, which will help the company realize its growth goals. I also want to thank the Virgo LPs for their continued partnership as we help to transform Zippy Shell’s business model into the industry leader.”
About Zippy Shell Zippy Shell is one of the fastest-growing moving and storage companies in the U.S. With locations across the United States, Zippy Shell provides a complete suite of services from self-pack, and storage, to cross-country moving. In 2018 Zippy Shell acquired 1-800-PACK-RAT, a leader in moving and storage solutions headquartered in Wake Forest, NC. Zippy Shell is made up of a strong team and board members who have established themselves as leaders in the moving and storage industries. For more information, visit www.zippyshell.com or www.1800packrat.com.
About Virgo Investment Group Founded in 2009, Virgo is a private investment firm based in the San Francisco Bay Area that has an established track record of building and transforming businesses. Virgo seeks to identify and grow unique business models into differentiated and profitable industry leading companies. Virgo focuses on two distinct strategies – creating, building, and scaling asset-based/credit businesses, and executing transformative growth equity investments in Founder-led or Family-owned companies. The Firm has raised over $2.0 billion and completed 65 investments to date. For more information, please visit www.virgo-llc.com.
