SAN FRANCISCO, 26. April 2024 — Movement Labs, ein in San Francisco ansässiges Blockchain-Entwicklungsteam, hat sich in einer von Polychain Capital angeführten Serie-A-Finanzierungsrunde 38 Millionen US-Dollar gesichert. Die Finanzierung wird die Mission des Unternehmens unterstützen, Facebooks Move Virtual Machine auf Ethereum zu bringen, Schwachstellen in Smart Contracts zu beheben und den Transaktionsdurchsatz zu erhöhen.

An der Investitionsrunde beteiligten sich bekannte Risikokapitalfirmen wie Hack VC, Placeholder, Archetype, Maven 11, Robot Ventures, Figment Capital, Nomad Capital, Bankless Ventures, OKX Ventures, dao5 und Aptos Labs. Dies zeigt, wie stark das Vertrauen der Branche in das Ökosystem von Movement ist.

Das 2022 gegründete Unternehmen Movement Labs hat sich zum Ziel gesetzt, die weit verbreiteten Schwachstellen von Smart Contracts im Ethereum-Ökosystem zu beseitigen und gleichzeitig eine neuartige Ausführungsumgebung einzuführen, die für mehr als 30.000 Transaktionen pro Sekunde (TPS) ausgelegt ist. Durch die Nutzung eines vollständig EVM-kompatiblen Bytecode-Interpreters und Ethereum für die Abrechnung bietet die Movement Zero-Knowledge Layer 2-Blockchain eine Parallelisierung und Smart-Contract-Absicherung für Nutzer, die im Ethereum-Ökosystem bleiben möchten.

Zwischen 2022 und 2023 haben Hacker Smart Contracts im Umfang von mehr als 5,4 Milliarden US-Dollar ausgebeutet, wobei wichtige Protokolle wie Curve und KyberSwap durch häufige Eintrittsinvarianz-Angriffe betroffen waren. Move-EVM von Movement ermöglicht es Move- und Solidity-Entwicklern, Code zu implementieren, der zur Laufzeit vollständig verifiziert ist und somit die Ausführung von Angriffsvektoren wie Eintrittsinvarianz verhindert. Das Team nennt dies den “Integrierten Ansatz”, bei dem mehrere modulare Elemente wie gemeinsame Sequenzierung, eingebettete formale Prüfverfahren, alternative Datenverfügbarkeit und Ethereum-Abrechnung kombiniert werden können, um eine einzige Blockchain zu betreiben und die Sicherheit und Leistung zu verbessern.

“Die beiden größten Probleme im Zusammenhang mit der Blockchain-Infrastruktur sind derzeit die schlechte Nutzererfahrung und Smart Contract-Exploits”, sagte der Mitbegründer von Movement, Rushi Manche. “Mein Kollege Cooper Scanlon und ich haben mit dem Aufbau von Movement begonnen, um die Innovationsgeschwindigkeit im Kryptobereich zu erhöhen, damit das nächste Facebook von Entwicklern, die nicht die Ressourcen für große Entwicklungsteams und teure Prüfer haben, auf der Blockchain aufgebaut werden kann. Move behebt die Unzulänglichkeiten von Solidity und wir bringen es auf eine kryptonative Art und Weise auf den Markt.”

Neben dem Flaggschiff Movement L2 wird Movement Labs auch Move Stack vorstellen, ein Framework für die Ausführungsebene, das mit vielen Rollup-Frameworks von Unternehmen wie Optimism, Polygon und Arbitrum kompatibel ist. Das Team hat die Vision, mit anderen Ethereum-Akteuren zu kooperieren, um die Ausführung von Smart Contracts für Nutzer auf allen Netzwerken zu skalieren und sie mit einer gemeinsamen Sequencer-Implementierung zusammenzubringen.

“Während das Hauptaugenmerk der meisten anderen Rollup-Teams auf der Skalierbarkeit liegt, besteht die wichtigste Erkenntnis von Movement darin, dass Skalierbarkeit allein nicht der Grund ist, warum wir noch keine massenhafte Einführung erleben. MoveVM bietet Entwicklern eine intuitive und fehlerresistente Erfahrung sowie eine sehr gute Skalierbarkeit. Wir meinen, dass Movement ein florierendes Ökosystem aufbauen kann, das eine neue Generation von Mainstream-Anwendungen beherbergt, indem wir diese Vorteile mit den Netzwerkeffekten und den Base Layer-Sicherheitsgarantien des Ethereum-Ökosystems verbinden”, sagte Bobby Beniers von Polychain in einer Erklärung.

Das Team hatte zuvor eine Pre-Seed-Finanzierungsrunde im Umfang von 3,4 Millionen US-Dollar im September 2023 angekündigt. Die Nutzer werden in diesem Sommer in der Lage sein, mit dem Netzwerk des Unternehmens interagieren.

Weitere Informationen über Movement Labs und einen Leitfaden für die Teilnahme am Devnet finden Sie hier: movementlabs.xyz, folgen Sie uns a uf X @movementlabsxyz und auf Discord.

Über Movement Labs: Rushi Manche und Cooper Scanlon, die das Move-Ökosystem von Anfang an aufgebaut haben, gründeten Movement Labs im Jahr 2022 als erstes integriertes Blockchain-Netzwerk, auf dem die schnellste und sicherste Layer 2 auf Ethereum läuft. Movement wurde entwickelt, um die Sicherheit und Parallelisierung von Smart Contracts mit der Liquidität und der Nutzerbasis von EVM zu verbinden. Movement bringt MoveVM über sein Flaggschiff L2 und die damit verbundenen Rollups mit dem Move Stack auf Ethereum.

Medienkontakt:
[email protected]  

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Justh, Who Has Experienced a Spectacular Rise to Fame Since Releasing His Song “Chor,” Will Use His $100,000 O’Shaughnessy Fellowships Grant to Continue Producing Music While Retaining Full Artistic Control of His Musical Future

GREENWICH, Conn., April 26, 2024 — O’Shaughnessy Ventures LLC (“OSV”), an investment firm that empowers creators, has awarded an O’Shaughnessy Fellowship to Justh, a singer-songwriter based in India.  

Justh, who has achieved viral success in India, will continue to develop his craft as a musician by independently creating original songs and music videos.

Justh, who received a $10,000 O’Shaughnessy Grant in 2023, independently released his Hindi song “Chor” in December 2023 (OSV is an executive producer). Defined by Justh’s mysterious but memorable lyrics, the multi-layered song has rocketed to 18 million YouTube views and over 17 million Spotify listens as of April 25, 2024. In February 2024, “Chor” reached the summit of Spotify’s “Viral 50 – Global” playlist and was featured on Instagram by Spotify India. Justh has appeared on multiple Indian news channels in connection with the song’s success, while several Indian celebrities have performed their own versions on Instagram.

Following the success of “Chor,” Justh received several significant financial offers from Indian music labels. Wishing to retain artistic control over his future, he rejected these offers and will continue to produce music independently, with OSV’s support.

Atman Pandya, who leads OSV’s Fellowship program, commented; “Justh’s success epitomizes the power of small grants to create an outsized impact. We’re delighted to welcome him to the Fellowships program and to support his mission to create soul-stirring music while retaining unfettered artistic independence.”

Justh said; “I am really happy and excited to be part of the OSV Fellowships this year. I am extremely grateful to Jim and the entire OSV team for showing faith in me. The OSV grant last year was a game changer for me, and I believe it was a big reason for my song “Chor,” doing so well. Going forward, I hope to dive deep into my internal truths and create some of the most beautiful songs ever created in this world.”

About Justh

Based in India, Justh is a singer-songwriter creating original Hindi songs with poetic lyricism as their backbone. He has a unique songwriting style and is focused on creating beautiful and fresh pieces of art for the world.

He qualified as a chartered accountant and worked as an auditor at KPMG, but his instinctive interest in melodies and poetry led him to music. He has performed live in India and the United States.

More about Justh can be found on his website and his “Jist Spotlight” profile on the “Jist” YouTube channel. 

About the Fellowship Program

OSV launched the O’Shaughnessy Fellowships in 2023. It is a one-year program for ambitious people who want to build something great. Fellows receive a $100,000 grant and access to OSV’s network of founders, investors and experts to support them in bringing their projects to life. More information about last year’s Fellows is available on OSV’s website.

In 2024, OSV will award ten $100,000 Fellowships. Applicants for the Fellowships will also be considered for its sister program, the O’Shaughnessy Grants. Under this program, OSV will make twenty additional $10,000 grants to promising creators, who will also be provided with access to OSV’s network.

Applications for the Fellowships remain open until and including 30 April 2024. Creators interested in applying can do so via OSV’s website.

About O’Shaughnessy Ventures

OSV is a creative investment firm that empowers and inspires creators to bring their ideas to life. Founded by Jim O’Shaughnessy, a pioneer in quantitative investing, founder of O’Shaughnessy Asset Management, and author of four books on investing, OSV aims to provide financial support and to partner in growing the next life-changing creative ideas.

OSV combines Jim’s deeply rooted interest in all things art, science, investing, and tech with his long-held desire to establish scenarios designed to help promising creators and their inspiring ideas succeed, regardless of age, location, job history, or level of education. For more information, visit https://www.osv.llc.

Media Contact:
Atman Pandya, Fellowships Lead
O’Shaughnessy Ventures LLC
(917) 355-7420
[email protected] 

SOURCE O’Shaughnessy Ventures

SAN FRANCISCO, 26 april 2024 — Movement Labs, een in San Francisco gevestigd blockchainontwikkelingsteam, heeft $ 38 miljoen binnengehaald in een Serie A-financieringsronde onder leiding van Polychain Capital. De financiering zal de missie van het bedrijf ondersteunen om Facebook’s Move Virtual Machine naar Ethereum te brengen, kwetsbaarheden in slimme contracten aan te pakken en de doorvoer van transacties te verbeteren.

Aan de investeringsronde namen vooraanstaande durfkapitaalbedrijven deel, waaronder Hack VC, Placeholder, Archetype, Maven 11, Robot Ventures, Figment Capital, Nomad Capital, Bankless Ventures, OKX Ventures, dao5 en Aptos Labs. Hieruit blijkt dat de industrie veel vertrouwen heeft in het ecosysteem van Movement.

Movement Labs werd opgericht in 2022 en richt zich op het aanpakken van de veelvoorkomende kwetsbaarheden in slimme contracten binnen het Ethereum-ecosysteem. Het bedrijf introduceert ook een nieuwe uitvoeringsomgeving die is ontworpen voor meer dan 30.000 transacties per seconde (TPS). Door gebruik te maken van een volledig EVM-compatibele bytecodevertaler en Ethereum voor transacties, zal de Movement Zero-Knowledge Layer 2 blockchain parallellisatie en smart contractbeveiliging bieden aan gebruikers die binnen het Ethereum-ecosysteem willen blijven.

Tussen 2022 en 2023 hebben hackers voor meer dan $ 5,4 miljard misbruik gemaakt van slimme contracten, waarbij grote protocollen zoals Curve en KyberSwap werden aangetast vanwege veelvoorkomende reentrancy-aanvallen. Met Move-EVM van Movement kunnen ontwikkelaars van Move en Solidity code implementeren die volledig is geverifieerd tijdens de runtime, waardoor aanvalsvectoren zoals reentrancy niet kunnen worden uitgevoerd. Het team noemt dit de “Integrated Approach”, waarbij meerdere modulaire elementen zoals gedeelde sequencing, ingebedde formele verificatiebewijzen, alternatieve beschikbaarheid van gegevens en Ethereum-transacties kunnen worden gecombineerd om één blockchain aan te drijven, waardoor de veiligheid en prestaties worden verbeterd.

“De twee grootste problemen in de blockchaininfrastructuur op dit moment zijn een slechte gebruikerservaring en misbruik van slimme contracten,” zegt medeoprichter van Movement, Rushi Manche. “Mijn medeoprichter, Cooper Scanlon en ik zijn begonnen met het bouwen van Movement om crypto-innovaties te versnellen, waarbij de volgende Facebook on-chain kan worden gebouwd door ontwikkelaars die niet de middelen hebben voor grote ontwikkelteams en dure auditors. Move pakt de tekortkomingen van Solidity aan en we brengen het op een crypto-native manier op de markt.”

Naast het vlaggenschip Movement L2 introduceert Movement Labs Move Stack, een raamwerk voor uitvoeringslagen dat compatibel is met veel van de rollup raamwerken van bedrijven als Optimism, Polygon en Arbitrum. De visie van het team is om samen te werken met andere Ethereum-spelers om de uitvoering van slimme contracten op te schalen voor gebruikers op alle netwerken en ze te verenigen met een gedeelde sequencerimplementatie.

“Terwijl de meeste andere rollup teams de focus leggen op schaalbaarheid, ziet Movement duidelijk dat schaalbaarheid alleen niet de reden is waarom we nog geen massale adoptie zien. De MoveVM biedt een ontwikkelaarservaring die intuïtief en bugresistent is en bovendien zeer schaalbaar. Door deze voordelen te combineren met de netwerkeffecten en basislaag veiligheidsgaranties van het Ethereum-ecosysteem, geloven we dat Movement een bloeiend ecosysteem kan bouwen als thuisbasis voor een nieuwe generatie mainstreamtoepassingen,” verklaarde Bobby Beniers van Polychain.

Het team had eerder een pre-seed ronde van $ 3,4 miljoen aangekondigd in september 2023. Gebruikers zullen deze zomer kunnen communiceren met het netwerk.

Ga voor meer informatie over Movement Labs en een handleiding voor deelname aan het devnet naar: movementlabs.xyz, volg op X @movementlabsxyz en op Discord.

Over Movement Labs: Medeoprichters, Rushi Manche en Cooper Scanlon, vroege bouwers in het Move-ecosysteem, richtten Movement Labs op in 2022 als het eerste geïntegreerde blockchain-netwerk, dat de snelste en veiligste laag 2 op Ethereum aandrijft. Ontworpen om slimme contractbeveiliging en parallellisatie te koppelen aan EVM-liquiditeit en gebruikersbases, brengt Movement de MoveVM naar Ethereum via zijn vlaggenschip L2 en verbonden rollups met de Move Stack.

Mediacontact:
[email protected] 

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The startup developed a technology combining hardware, software, and AI to revolutionize corporate space management, focusing on local and international growth and expansion.

SÃO PAULO, April 25, 2024 — Neowrk, a startup that has developed advanced and unique hardware, software, and artificial intelligence technology to optimize workspace management, is receiving a R$ 10 million investment in a round led by Indicator Capital with R$ 8 million, complemented by current partners and Real Estate market investor Daniel Cherman.

This investment aims to help the company address a significant challenge in the corporate environment: optimizing workplace investments and occupancy while simultaneously providing a better experience for people and performance for companies with the support of data and technology.

The main differentiators of the solution offered by Neowrk lie in easily and efficiently bringing real information on how any space is used, identifying behaviors, and whether the space’s purpose is being met, without the need for corporate data network usage for operation. It relies on its plug-and-play gadget with embedded AI software, providing the best information control performance. Integration via APIs with other market platforms is also a differentiator.

“We want to revolutionize workplace management, bringing visibility to the organization of people and teams’ dynamics, promoting agility and intelligence in operation, and aligning the environment with people management strategy,” comments Flávio Pimentel, CEO of Neowrk.

Focus on growth, expansion, and technology enhancement

With the investment, the startup’s business priorities will focus on growth and commercial expansion, through partnerships with the infrastructure ecosystem and continuous improvement of hardware and software, increasing integration scope with other platforms, new modules, and predictive models.

“Neowrk has had a DNA with a strong focus on technology and software development but bringing an asset to improve the environment for people. The quality of the technology developed represents significant potential in the national and international market”, comments Fabio Iunis de Paula, co-founder of Indicator Capital.

Indicator Capital will leverage its experience and apply the Building Value Together® methodology to drive Neowrk’s growth. The management company intends to add value in technology enhancement and provide support, including local and international commercial expansion.

Today, Neowrk can serve all sectors of the economy, mainly focusing on medium and large companies, with over 250 employees. The startup has positively impacted over 200,000 employees by implementing its security policies, manages and optimizes over 70,000 square meters in more than 300 offices worldwide, and has supported over 100 managers, resulting in a savings of R$ 14 million with better occupancy.

SOURCE Neowrk

NEW YORK, April 25, 2024 — NorthSands Capital today announced that it has completed an investment in a continuation vehicle sponsored by Wellspring Capital investing in SupplyOne, a value-added distributor of packaging supplies. NorthSands was the lead investor in a single-asset continuation vehicle dedicated to SupplyOne. A majority equity interest in SupplyOne was sold in a related, multi-asset continuation vehicle that closed in March.

NorthSands was founded in late 2023 by former Blackstone Senior Managing Director, Bruce McEvoy. NorthSands is focused on investing in continuation vehicles as well as primary private equity deals.

McEvoy commented, “We are thrilled to partner with Wellspring and SupplyOne management to support the Company on the next leg of its organic and inorganic growth.”

NorthSands was advised by Kirkland & Ellis LLP. 

About NorthSands Capital

NorthSands Capital is an investment firm founded in late 2023. NorthSands is focused on investing in compelling opportunities in the private equity space.

Investor Contact
[email protected] 

Media Contact
Gladstone Place Partners
Lauren Odell / Felipe Ucrós
212-230-5930

SOURCE NorthSands Capital

“Moso’s pioneering efforts to blend e-commerce with cryptocurrency are creating new opportunities for consumers to engage with digital currencies, significantly boosting their mainstream adoption.” – Sandeep Nailwal, Founder of Polygon
Moso stands at the forefront of redefining online shopping by partnering with over 2,000 leading merchants, including Walmart, eBay, and Shopee, enabling users to earn cryptocurrency rewards effortlessly. This innovative approach not only enhances the shopping experience for consumers but also drives the broader adoption of cryptocurrencies.

Pioneering the Future of E-commerce and Crypto Integration
The infusion of $2 million in seed capital underscores the confidence in Moso’s groundbreaking approach and its potential to reshape e-commerce by merging it with the evolving web3 landscape. “This seed funding round marks a significant milestone not only for Moso but for the entire web3 ecosystem,” remarked Blake Capozza, Co-Founder & CEO of Moso. “Our platform is engineered to democratize access to web3 for consumers new to the space, simplifying their engagement with and benefit from decentralized technologies through the familiar avenue of online shopping.”

“The vision that Blake and the Moso team are executing will significantly accelerate the adoption of cryptocurrency by seamlessly integrating it into everyday shopping experiences.” – Kenzi Wang, GP of Symbolic Capital

Future Ventures and Sustained Expansion
Moving forward, Moso remains dedicated to advancing its shop-to-earn model and enhancing the user experience with more rewarding opportunities. The company is poised to sustain its growth momentum, with a focus on empowering web3 decentralized applications (dApps) through innovative reward mechanisms that drive user engagement and platform expansion.

About Moso
Moso is a trailblazing shop-to-earn platform that seamlessly integrates e-commerce and cryptocurrency, providing users with the opportunity to earn crypto rewards on their purchases. With partnerships spanning over 2,000+ merchants, Moso sets a new benchmark for the online shopping experience, fostering a closer connection between consumers and the burgeoning realm of digital currencies.  www.moso.xyz

SOURCE Moso

Funding Round will Help Accelerate Wheelhouse’s Expansion via Talent Acquisition and M&A

NEW YORK, April 25, 2024 — Wheelhouse, an independent content and talent platform, announced today its first outside capital raise. The round, led by investment firm Alignment Growth, will enable Wheelhouse to build an infrastructure that attracts industry-leading talent and accelerates growth via strategic acquisitions. As part of the transaction, Alignment Growth Partner Jeff Bewkes joins the Wheelhouse Board of Directors. 

Today, Wheelhouse is comprised of several production companies, including Spoke Studios, Campfire, Butternut, Wheelhouse UK and DNA. It also has production partnerships in place with Jimmy Kimmel’s Kimmelot and Chef David Chang’s Majordomo Media. Wheelhouse’s marketing, digital, audio and management arms complement its production capabilities, creating a multi-faceted flywheel uniting all parts in one ecosystem.

Wheelhouse’s television and streaming series include Netflix’s King of Collectibles with Executive Producer Peyton Manning, Buying Beverly Hills and recent #1 Netflix hit romcom Players; Hulu’s Secret Chef with David Chang, the EmmyÒ-winning WeWork: Or the Making and Breaking of a $47 Billion Unicorn and the upcoming Got to Get Out; Max’s Smartless: On the Road; and Roku’s Celebrity Family Cookoff with Executive Producer and star Sofia Vergara, among others. In 2023, Wheelhouse sold 20 series that are in various stages of production for networks and platforms including Netflix, Hulu, Roku, Paramount+, HGTV, Food Network and OWN. 

The Wheelhouse-Alignment Growth deal was spearheaded by Alignment Growth Partner Kevin Tsujihara, Wheelhouse President & General Counsel Rob Lia and Chief Strategy Officer Ed Simpson, who leads M&A.

Wheelhouse was founded in 2018 by repeat founder and CEO Brent Montgomery. Prior to starting Wheelhouse, Montgomery founded and sold Leftfield Entertainment to ITV in 2014. 

Said Montgomery, “We are building Wheelhouse as a collective of global creatives who not only shine on their own, but truly want to partner with one another across labels and divisions so we’re thrilled that Alignment’s investment will allow us to supersize our efforts engaging talent in front of and behind the camera.” 

Jeff Bewkes, Founding Partner at Alignment Growth, added, “We are excited to partner with and support Brent, a seasoned operator and a magnet for the best talent in non-scripted. His success in the space is unparalleled, and his team is well-positioned to build Wheelhouse into one of the preeminent names across the industry.”

About Wheelhouse  
Wheelhouse is a content and talent platform founded in 2018 by entrepreneur Brent Montgomery, the founder of Leftfield Entertainment, and former ITV America CEO. The multi-faceted business encompasses Wheelhouse Entertainment (which includes production entities Spoke Studios, Campfire, Butternut, Wheelhouse UK and DNA, as well as physical production partnerships with Chef David Chang’s Majordomo Media and Jimmy Kimmel’s Kimmelot), marketing arm Wheelhouse Labs, digital division Wheelhouse DNA and talent management company Additive Creative Partners. Wheelhouse’s television and streaming series include Netflix’s King of Collectibles with Executive Producer Peyton Manning, Players and Buying Beverly Hills; Hulu’s Secret Chef with David Chang, the Emmy-winning WeWork: Or the Making and Breaking of a $47 Billion Unicorn and the upcoming Got to Get Out; Max’s Smartless: On the Road; and Roku’s Celebrity Family Cookoff with Executive Producer and star Sofia Vergara, among others. Wheelhouse maintains operations in NYC, Los Angeles, Stamford and London.

About Alignment Growth  
Alignment Growth invests in growth-stage companies across media, entertainment and gaming (“MEG”) globally. Alignment Growth seeks to drive value creation in partnership with its portfolio companies by leveraging its team’s senior executive operating, strategic and dealmaking experience at global Fortune 500 MEG companies.

SOURCE Alignment Growth

SAN FRANCISCO, April 25, 2024 — Movement Labs, a San Francisco-based blockchain development team, has secured $38 million in a Series A financing round led by Polychain Capital. The funding will support the company’s mission to bring Facebook’s Move Virtual Machine to Ethereum, addressing smart contract vulnerabilities and enhancing transaction throughput.

The investment round saw participation from prominent venture capital firms including Hack VC, Placeholder, Archetype, Maven 11, Robot Ventures, Figment Capital, Nomad Capital, Bankless Ventures, OKX Ventures, dao5, and Aptos Labs, demonstrating strong industry confidence in the Movement ecosystem.

Founded in 2022, Movement Labs aims to tackle the prevalent smart contract vulnerabilities within the Ethereum ecosystem while introducing a novel execution environment designed for 30,000+ transactions per second (TPS). By leveraging a fully EVM-compatible bytecode interpreter and Ethereum for settlement, the Movement Zero-Knowledge Layer 2 blockchain will bring parallelization and smart contract security to users who wish to remain within the Ethereum ecosystem.

Between 2022 and 2023, hackers exploited smart contracts for over $5.4 billion, affecting major protocols like Curve and KyberSwap through common reentrancy attacks. Movement’s Move-EVM allows Move and Solidity developers to deploy code that is fully verified at runtime, preventing attack vectors like reentrancy from executing. The team calls this the “Integrated Approach”, where multiple modular elements such as shared sequencing, embedded formal verification provers, alternative data availability, and Ethereum settlement can combine to power one blockchain, enhancing security and performance.

“The two biggest issues in blockchain infrastructure at the moment are poor user experience and smart contract exploits,” said Movement Co-Founder, Rushi Manche. “My Co-Founder, Cooper Scanlon and I started building Movement to increase the velocity of innovation in crypto where the next Facebook can be built on-chain by developers who do not have the resources for large development teams and expensive auditors. Move addresses the shortcomings of Solidity and we are bringing it to market in a crypto-native way.”

In addition to the flagship Movement L2, Movement Labs will introduce Move Stack, an execution layer framework that is compatible with many of the rollup frameworks from companies like Optimism, Polygon, and Arbitrum. The team’s vision is to collaborate with other Ethereum players to scale smart contract execution for users on all networks and unify them with a shared sequencer implementation.

“While the core focus of most other rollup teams is scalability, Movement’s key insight is that scalability alone is not why we are yet to see mass adoption. The MoveVM offers a developer experience that is intuitive and bug-resistant as well as highly scalable. By marrying these benefits with the network effects and base-layer security guarantees of the Ethereum ecosystem, we believe Movement can build a flourishing ecosystem that is home to a new generation of mainstream applications,” said Polychain’s Bobby Beniers in a statement.

The team had previously announced a $3.4 million pre-seed round in September 2023. Users will be able to interact with its network this Summer.

For more information about Movement Labs and a guide to participate in the devnet, please visit: movementlabs.xyz, follow on X @movementlabsxyz and on Discord.

About Movement Labs:
Co-founders, Rushi Manche and Cooper Scanlon, early builders in the Move ecosystem, founded Movement Labs in 2022 as the first integrated blockchain network, powering the fastest and most secure Layer 2 on Ethereum. Designed to pair smart contract security and parallelization with EVM liquidity and user bases, Movement is bringing the MoveVM to Ethereum through its flagship L2 and connected rollups with the Move Stack.

Media Contact:
[email protected] 

SOURCE Movement Labs

CHARLESTON, S.C., April 25, 2024 — Churnkey, the leading provider of subscription retention automation software, raised $1.5 million from Charlotte, NC-based CreativeCo, to accelerate its growth. The Churnkey platform provides a wide range of retention products, including personalized cancellation flows, failed payment recovery, precision credit card retries, and host of customer-centric subscription optimizations.

In the next year alone, as estimated by UBS Global, customers of subscription-based businesses will spend nearly $1.5 trillion on subscription-enabled products. With this new funding, Churnkey will leverage its immense dataset of tens of millions of data points to unlock a new era of strengthened customer relationships for the subscription economy.

“While Churnkey is a profitable and growing business, we are seeing incredible market demand that needs to be served beyond our current capacity,” Nick Fogle, CEO and co-founder of Churnkey, said. “This fundraise from CreativeCo’s early growth equity fund will help us land key executive hires, expand our market share, and continue our rapid pace of innovation.”

For high-volume subscription companies, poor retention can change the trajectory of an entire business. Churnkey’s platform introduces a new paradigm, offering powerful in-app tools to manage cancel flows, execute reactivation campaigns, and optimize retention efforts at every stage of the customer journey. From there, the platform helps make sense of all the data—whether it’s uniform or freeform—and tracks the revenue impact of every touchpoint.

“Churnkey leads the retention automation space with a platform that automatically and intelligently runs retention strategies throughout a customer subscription—from trial through post-cancellation,” Travis Parsons, CreativeCo Managing Partner, said. “The platform’s ability to integrate directly with payment platforms and leverage product usage data enables a growing suite of retention automation offerings that generate concrete ROI.”

About Churnkey

Churnkey is the world’s most powerful customer-centric retention platform. They’re the leading provider of retention solutions for high-volume subscription businesses such in SaaS, media, e-commerce, & consumer services. Its products drive automated customer success, preventing both voluntary & involuntary churn related to these subscriptions.

With embeddable cancellation flows, advanced failed payment recovery, AI-driven feedback analysis, and personalized reactivation campaigns, Churnkey helps their customers improve retention while maintaining a user-friendly, self-service user experience.

About CreativeCo

CreativeCo invests in fast growing, highly capital efficient B2B software companies at the seed stage. CreativeCo has invested in over 40 early-stage software companies across the US since its launch in 2020 and supports its portfolio with the capital and capabilities of its founder-aligned and operationally proactive growth equity studio model.

Media Contact: 
Baird Hall
[email protected]

SOURCE Churnkey