Investment Accelerates Adoption of Technology in Design and Construction, Bringing Digital Transformation to the Homebuilding Process

DURHAM, N.C. , July 18, 2023 — Higharc, the intelligent homebuilding platform for design, sales, and construction, today announced a strategic investment to accelerate the adoption of its generative design technology and help transform the homebuilding process. The investment was made by Standard Investments, the investment arm of global industrial company Standard Industries; Home Depot Ventures™, the venture capital fund managed by the world’s largest home improvement retailer; and Carl Bass, former president and CEO of Autodesk, Inc., who joins Higharc as an advisor.

The investment coincides with a critical moment for the U.S. housing market. The Wall Street Journal reports that the country’s housing needs outpace available stock by as many as 7.3 million units, driving up consumer prices and putting immense pressure on builders to meet demand.

Residential homebuilders face an uphill battle to scale, weighed down by shifting regulatory standards, legacy software systems, and redundant manual processes that result in lower efficiency and higher costs.

“More and more, there are constraints in home building with respect to supply chain and labor issues,” said Ted Brock, president of Buffington Homes. “We are thrilled to work with Higharc because of the incredible flexibility their platform provides to us in building homes and easily handling changes with our teams in the field. This removes a ton of frustration and confusion for everyone involved, creates less errors on the job site, and provides a better homebuyer experience.”

Builders perform hundreds of manual processes and paper-based tasks to design and build homes. Higharc’s intelligent data model simplifies home design data and construction documents using automation, creating a more efficient and cost-effective approach to building homes at scale.

“Revit and BIM transformed the architecture industry, and I see Higharc’s generative design platform having a similar transformative effect on homes,” said Carl Bass. “I am thrilled to join the journey with Higharc, a pioneer in its field, as they lead the charge in reshaping the construction landscape and redefining how homes and communities come to life.”

Higharc’s platform automatically produces everything needed to design, sell, and build homes at a fraction of the cost compared to traditional software. This also enables buyers to configure their new home using online 3D models and also dramatically speeds up the builder’s ability to get these homes to market.

“Higharc isn’t just a tool we’re adding to our business. It can change the way we do business by solving a lot of the traditional problems in homebuilding. As a result we’ll be more efficient as an organization,” said Rob Krohn, VP of Marketing at Epcon Communities.

“Standard believes in the power of digital technology to transform the physical world and that is exactly what Higharc is doing for homebuilding,” said Ben Sampson, Managing Director of Standard Investments. “We are proud to support the Higharc team as they continue to bring their platform to homebuilders across the country.”

This investment boosts Higharc’s total capital raised to over $40 million, positioning the company to further its mission to improve the quality and affordability of homes and communities everywhere.

“We are thrilled to have Home Depot Ventures, Standard Investments, and Carl Bass join Higharc to bring innovation to the homebuilding industry,” said Marc Minor, CEO of Higharc. “Transformational change in critical industries like homebuilding depends on robust partnerships. The decision of these industry leaders to support Higharc as we expand our platform speaks to the caliber of our team and the impact Higharc has made for builders across the country.”

To learn more about Higharc, please visit: higharc.com

About Higharc
Founded in 2018, Higharc is the first Intelligent Homebuilding platform changing how new homes are designed, sold and built, working with many of the Top 100 builders across the U.S. to build new homes and communities. Higharc has raised over $40 million in capital since inception and is backed by Spark Capital, Lux Capital, Home Depot Ventures™, GAF, Adobe CPO Scott Belsky, former Autodesk CEO Carl Bass, Javelin Venture Partners, Pillar VC, Simpson Strong-Tie, Ferguson and Starwood Capital, plus founders of PlanGrid, Built Technologies, Desktop Metal, Carbon3D, and Digits. Other investors include MetaProp, Tectonic Capital, Montage Ventures, and Vertex Ventures. For more information, visit higharc.com.

About Standard Investments
Standard Investments is a fundamentally driven investment platform focused on the intersection of industry and technology. Standard Investments deploys capital flexibly and creatively across the public and private markets, spanning the life cycle of a company, and leverages its deep industrial knowledge and operational experience to create value. To learn more, visit standardinvestments.com.

About Carl Bass 
Carl Bass is a former President and Chief Executive Officer of Autodesk, Inc. He is co-founder of Flying Moose, Ithaca Software and buzzsaw. Presently, Mr. Bass is Chairman for Velo3D, Inc., Chairman of Ouster, Inc. and Executive Chairman at Zoox, Inc. In the past Carl Bass occupied the position of Director at Autodesk, Inc. and President & Chief Executive Officer of Buzzsaw.com, Inc. (a subsidiary of Autodesk, Inc.) and Advisor at Impact Venture, Inc. He serves on the Board of Trustees of the Smithsonian’s Cooper-Hewitt National Design Museum, Art Center College of Design and California College of the Arts. He serves on the Advisory Boards of Cornell Computing and Information Science, UC Berkeley School of Information and UC Berkeley College of Engineering. Mr. Bass holds a Bachelor of Arts in Mathematics from Cornell University.

Press Inquiries:
Arcely Reyes
JMG Public Relations
[email protected]
516-993-3294

SOURCE Higharc

• Tractable raises $65M Series E round led by SoftBank Vision Fund 2, with participation from existing investors Insight Partners and Georgian
• Tractable’s AI automates the insurance claims and damage assessment process, enabling real-time condition assessment and accurate repair estimates based on images captured via smartphone
• Working with leading P&C insurers, automotive and property companies, this investment will accelerate Tractable’s expansion across the auto and property ecosystems to apply AI to cars and homes that need to be repaired, protected, recycled or sold

NEW YORK, July 18, 2023 — Tractable, a leader in artificial intelligence (AI) using computer vision to assess the condition of cars and homes, today announces a $65M Series E investment led by SoftBank Vision Fund 2. Existing investors Insight Partners and Georgian participated in the round. As part of the transaction, Nahoko Hoshino, Investment Director for SoftBank Investment Advisers will join the Tractable board.

Today’s investment represents the latest milestone in Tractable’s growth journey. The company recently brought on Venkat Sathyamurthy as Chief Product Officer (formerly head of platform at Adobe), Mohan Mahadevan as Chief Science Officer (formerly computer vision lead at Amazon) and Andrew Shimek as President to oversee global operations and sales. Tractable will use the new funds to accelerate its research and development capabilities, creating new features that power the end-user experience to provide instant, comprehensive and integrated vehicle assessments.

Despite significant growth forecasted for the global insurance market, which is anticipated to generate $4.3 trillion in premiums by 2040¹, the insurance claims process remains largely manual, time-consuming and costly for both insurers and policyholders. To mitigate these challenges so claims are settled with higher accuracy and greater efficiency, Tractable is digitizing the full claims journey through visual AI assessment.

Trained on millions of data points, Tractable’s AI reviews user-submitted photos of cars and homes captured via smartphone and recommends decisions based on damage severity. Any time a driver needs the condition of their vehicle appraised, Tractable’s AI provides a frictionless process that’s up to 10x faster. The company also uses its AI solutions in the auto collision sector to accelerate repairs and salvage vehicle parts for reuse and resale.

Last year, Tractable expanded the application of its technology to assess the condition of homes to accelerate recovery after property damage occurs.

Since its Series D funding round in July 2021, Tractable has continued to grow its product offerings and secure global industry-leading customers, working with top P&C insurers, including American Family Insurance and Aviva, as well as leading automotive companies in recycling, repair and retail. The company now processes more than $7 billion in annualized auto and home repairs and acquisitions, more than doubling the volume of claims processed by Tractable compared to one year ago.

Alex Dalyac, CEO and co-founder of Tractable, said: “Tractable’s AI has helped millions recover faster from accidents and natural disasters. In SoftBank we have a partner who understands the full application set of our technology at a granular level, combined deep networks within the insurtech, automotive and property sectors. I’m excited by what we can achieve in redefining trust and transparency to support people in managing the life cycles of their cars and homes.”

Nahoko Hoshino, Investment Director, for SoftBank Investment Advisers, said: “We are excited to work with Alex, Razvan and team, who have been the forerunners of applying AI computer vision to bring efficiency into the insurance claims management process via applying AI computer vision. As strong believers in AI technology, we see huge potential for the technology to scale globally, embedding AI adoption into other verticals through exploring new use cases. Tractable already has strong traction in auto, whereas property is the exciting new opportunity that is ripe for disruption.”

About Tractable

Tractable is an Applied AI company that uses the speed and accuracy of artificial intelligence to visually assess cars and homes. Our solutions aim to help people work faster and smarter, while reducing friction and waste – better for businesses and the planet. 

Trained on millions of data points, Tractable’s AI-powered solutions process more than $7 billion in vehicle repairs and purchases annually, and connect everyone involved in insurance, repairs, and sales of cars and properties.

Founded in 2014, Tractable is the AI tool of choice for over 20 world-leading insurance and automotive companies, including over 10 of the Fortune Global 500. Backed by SoftBank, Insight Partners and other top-tier investors, our world-class research and engineering team is based in London, with offices across North America, Asia and Europe.

To learn more about Tractable and schedule an AI demo, visit tractable.ai
You can also follow us on LinkedIn and Twitter.

About Insight Partners

Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2022, the firm has over $75B in regulatory assets under management. Insight Partners has invested in more than 750 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with right-sized, right-time practical, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

About Georgian

Georgian invests in high-growth B2B software companies that are harnessing the power of data in a trustworthy way and aim to use AI to drive value. Our technology platform seeks to identify and accelerate leading growth-stage software companies. We believe that a digital approach can provide a better experience of growth capital to software company CEOs and institutional investors. Based in Toronto, Georgian’s team brings together investors with machine learning professionals, software entrepreneurs and experienced operators. Founded in 2008, Georgian has US$6.3B AUM, as of December 31, 2022, and has made 67 investments with 26 exits across 8 funds. Visit www.georgian.io

¹ https://www.swissre.com/institute/research/sigma-research/sigma-2021-04/sigma4-in-5-charts.html

SOURCE Tractable

Funding will accelerate the analytical and clinical validation of ALZpathDx, a proprietary assay for quantifying phosphorylated tau 217 (pTau217), a highly accurate diagnostic biomarker for Alzheimer’s disease.

CARLSBAD, Calif., July 18, 2023 — ALZpath, a leading developer of innovative diagnostic solutions for Alzheimer’s disease, is proud to announce that they have received funding from the Alzheimer’s Drug Discovery Foundation (ADDF)’s Diagnostics Accelerator to accelerate the clinical availability of ALZpathDx as a laboratory developed test (LDT). ALZpathDx is a novel, proprietary assay for blood-based measurement of phosphorylated tau at threonine 217 (pTau217), a highly accurate, diagnostic biomarker for Alzheimer’s disease. The assay is performed on the Quanterix Simoa HD-X immunoassay analyzer.

The investment comes at a pivotal time in the advancement of Alzheimer’s disease treatments, with Biogen and Eisai’s Lecanemab (LEQEMBI®) recently receiving traditional FDA approval, ushering in a new era for the next generation of Alzheimer’s treatments. A critical barrier to widespread availability and use of these and other treatments to follow is the difficulty in diagnosing Alzheimer’s patients, particularly in the early stages of disease onset, when such treatments may have the most profound impact.

This investment will enable ALZpath to continue generating clinical evidence and to launch an LDT version of the assay as ALZpathDx, which will be crucial for the timely detection of Alzheimer’s disease. The ALZpath pTau217 assay is currently available for research use only (RUO) through Quanterix, as a kit and for services in the Quanterix Accelerator laboratory.

“The Alzheimer’s Drug Discovery Foundation has had a transformative impact in advancing the understanding, diagnosis and treatment of Alzheimer’s disease,” said ALZpath Chief Scientific Officer and principal investigator, Dr. Andreas Jeromin. “Building on that legacy, and with their support, we can now continue expanding our efforts with the goal of ensuring broad clinical availability of ALZpathDx, which will be critical in facilitating timely and accurate detection, as well as providing scalable access to disease-modifying treatments for people living with Alzheimer’s.”

The ADDF is the only nonprofit dedicated to accelerating the discovery of drugs to prevent, treat and ultimately cure Alzheimer’s, which affects more than fifty million people worldwide. Since 1998, the ADDF has awarded nearly $250 million in funding to over 720 Alzheimer’s drug discovery and development programs, biomarker initiatives, and clinical trials in nineteen countries. 

“We know that tau deposits in the brain (as tangles) more closely correlate with cognitive function than beta-amyloid, meaning tau biomarkers will serve as a vital tool for physicians and researchers alike as Alzheimer’s diagnostics and treatments continue to evolve,” says Howard Fillit, MD, Co-Founder and Chief Science Officer at the ADDF. “Non-invasive tau blood tests that are able to accurately quantify the levels of specific types of tau protein in the blood, like ALZpath’s, can impact patient outcomes by aiding in the early diagnosis and intervention for Alzheimer’s disease.”

ALZpath, Inc. will be attending the Alzheimer’s Association International Conference (AAIC) in Amsterdam from July 16^th till July 20^th https://aaic.alz.org/overview.asp, and their presence at the conference will include several ALZpath pTau217 assay-related presentations.

For more information about ALZpath and ALZpathDx, please visit https://alzpath.bio/.

About ALZpath
ALZpath is a leading provider of innovative diagnostic solutions for Alzheimer’s disease. With the novel ALZpath pTau217 Assay, ALZpath is transforming Alzheimer’s disease diagnosis and monitoring, providing accurate and accessible tools for researchers and healthcare professionals worldwide.

About The Alzheimer’s Drug Discovery Foundation (ADDF)
Founded in 1998 by Leonard A. and Ronald S. Lauder, the Alzheimer’s Drug Discovery Foundation is dedicated to rapidly accelerating the discovery of drugs to prevent, treat and cure Alzheimer’s disease. The ADDF is the only public charity solely focused on funding the development of drugs for Alzheimer’s, employing a venture philanthropy model to support research in academia and the biotech industry. The ADDF’s leadership and contributions to the field have played a pivotal role in bringing the first Alzheimer’s PET scan (Amyvid®) and blood test (PrecivityAD®) to market, as well as fueling the current robust and diverse drug pipeline. Through the generosity of its donors, the ADDF has awarded more than $250 million to fund over 720 Alzheimer’s drug discovery programs, biomarker programs and clinical trials in 19 countries. To learn more, please visit: http://www.alzdiscovery.org/.

About the Diagnostics Accelerator
The Diagnostics Accelerator, created in July 2018, is a $100 million global research initiative from partners including ADDF Co-Founder Leonard A. Lauder, Bill Gates, Jeff Bezos, MacKenzie Scott, the Dolby family, the Charles and Helen Schwab Foundation, The Association for Frontotemporal Degeneration, among others, to develop novel biomarkers for the early detection of Alzheimer’s disease and related dementias.

This research initiative is dedicated to accelerating the development of affordable and accessible biomarkers to diagnose Alzheimer’s disease and related dementias and advance the clinical development of more targeted treatments. Through translational research awards and access to consulting support from industry experts, this program will challenge, assist and fund the research community in both academia and industry to develop novel peripheral and digital biomarkers.

Contact
Andreas Jeromin, PhD
Chief Scientific Officer
ALZpath, Inc.
[email protected]

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “expect,” “plan,” “anticipate,” “estimate,” “intend” and similar expressions (as well as other words or expressions referencing future events, conditions, or circumstances) are intended to identify forward-looking statements. Forward-looking statements in this news release are based on ALZpath’s expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Factors that may cause ALZpath’s actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in ALZpath’s filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” sections contained therein. Except as required by law, ALZpath assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.

SOURCE ALZpath

Leader in internet cybersecurity solutions for global brands and governments announces strategic milestones to accelerate growth.

SALT LAKE CITY and LONDON, July 18, 2023 — Netcraft, the global leader in cybercrime detection, disruption, and takedowns announced today that the company has raised over $100M from Spectrum Equity, a leading growth equity firm focused on internet-enabled software and data services companies.

Along with the investment from Spectrum, the company named experienced technology executive Ryan Woodley as its new CEO. Woodley has decades of experience leading growth-oriented technology companies and an established track record of success. He was previously CEO of Progressive Leasing (NYSE: PRG), a leading financial technology company, which grew from approximately $220 million to $2.5 billion in revenue and went public during his tenure. He also served as COO and CFO at DigiCert, the world’s largest high assurance digital security certificate authority, which roughly tripled in size during his tenure and was successfully sold to a private equity firm. Most recently, Ryan has served on the boards of high growth technology companies, PDQ.com and Conservice.

Founded by Mike Prettejohn, Netcraft offers cybercrime detection and disruption services. With an advanced technology platform that enables the company to disrupt and take down cybercrime online in an automated manner, it’s become the world’s largest provider of takedowns which are delivered as a subscription service to financial institutions, governments, and corporations globally. The investment from Spectrum Equity will help accelerate the company’s strategic plans to drive growth and expand globally.

“I’m grateful to my colleagues and our customers who have grown Netcraft from a laptop and a modem to the point where it now serves many of the world’s largest enterprises and governments, without any outside funding. Having decided to accept growth equity, we chose Spectrum because of its success in scaling other cybercrime businesses, particularly Verafin and Ethoca, prior to their respective sales to Nasdaq and Mastercard,” said Prettejohn.

“Mike and his incredible team have built a truly differentiated offering for organizations of all sizes looking to stop cyberattacks,” said Parag Khandelwal, Managing Director of Spectrum Equity. “Its scale is a testament to its effectiveness – Netcraft has blocked more than 173 million malicious attacks and takes down more than 15 million cyberattacks each year. Netcraft takes down roughly one-third of all global phishing attacks on behalf of its customers. We’re honored to partner with this company and work closely with Ryan to help bring its solutions to more organizations worldwide.”

“This significant funding will help us accelerate progress toward our mission of detecting and disrupting cybercrime at scale to create a safer online experience for everyone,” said Ryan Woodley, CEO of Netcraft. “Powered by an exceptionally talented team, Netcraft’s speed, scale, and effectiveness is unmatched in the global fight against cybercrime. I am excited to join this team and work alongside a distinguished group of customers and partners in furthering our innovative approach to protecting the world from cybercrime.”    

Netcraft empowers its customers with advanced cyber defense solutions backed by a proven track record of success enabled by:

• Global threat intelligence: The data Netcraft has gathered continuously over decades uniquely positions the company to power its robust threat detection and response platform. Its automated process enables real-time identification and validation of current threats to customers and the global community. Netcraft’s uniquely valuable intelligence feeds are consumed by most major browsers and leading antivirus software vendors.
• Rapid & Effective Takedowns: Netcraft has cultivated a long-standing reputation with hosting companies, DNS providers, registrars, and ISPs. Leveraging these relationships along with sophisticated threat classification, internet infrastructure knowledge, and a history of past attacks, Netcraft responds to threats and attacks with exceptional speed and effectively shuts down malicious activity.
• Continuous Innovation: Netcraft’s cybercrime detection and takedown platform combines data-driven automation with artificial and human intelligence to address and remove more than 100 attack types. Because cybercrime activity is constantly evolving, the company has a team of experts with the agility and experience to respond to new threats and attack types as they arise.
• Transparency & Visibility: Netcraft delivers detailed evidence for every validated attack and ensures customers are updated in real-time on the progress and status of all active takedowns. Customers can easily access robust reporting through its portal or APIs that integrate seamlessly with internal systems.

About Netcraft 

Netcraft is a global leader in cybercrime detection and disruption, combining cutting-edge technology with decades of experience to protect organizations of all sizes from digital threats and attacks. Its mission is to detect and disrupt cybercrime at scale through constant innovation, extensive automation, and unique insight, delivering a safer online experience for everyone. Headquartered in the UK, Netcraft is the trusted cybersecurity partner for three of the largest companies, twelve of the largest banks, and governments of five of the largest economies in the world. Netcraft’s comprehensive threat feeds, early fraud detection capabilities, and swift automated takedowns are unparalleled in the industry, scaling to perform takedowns for nearly one-third of the world’s phishing sites, blocking more than 170 million malicious sites. For more information, visit www.netcraft.com.

About Spectrum Equity

Spectrum Equity is a leading growth equity firm providing capital and strategic support to innovative companies in the information economy. Since 1994, the firm has partnered with proven entrepreneurs and management teams to build long-term value in market-leading internet-enabled software and data services companies. Representative investments include Ancestry, BATS Global Markets, Definitive Healthcare, Ethoca, OffSec, SurveyMonkey and Verafin. For more information, including a complete list of portfolio investments, visit www.spectrumequity.com.

Contact:
Danielle Ostrovsky
Hi-Touch PR
410-302-9459
[email protected] 

SOURCE Netcraft

SINGAPORE and LONDON, July 18, 2023 — MODIFI, the global cross-border business payments company, has secured a $100 million debt facility with HSBC Innovation Banking UK to further growth.

The partnership with HSBC Innovation Banking is a key component of MODIFI’s refinancing strategy, aimed at diversifying its funding sources with world-class capital providers. This comes on the heels of a  $75 million debt facility MODIFI recently closed with another leading global financial institution.

Nelson Holzner, CEO and Co-Founder of MODIFI, expressed his enthusiasm about the partnership with HSBC, stating, “We are excited to partner with a top-notch financial institution like HSBC Innovation Banking to meet the growing demand of our customers for higher liquidity.”

“There is a growing need for innovative solutions that remove barriers, increase transparency and enable small and midsize businesses to trade on a par with larger corporates. We are incredibly excited at HSBC Innovation Banking to support MODIFI as it continues on its trajectory to become a leading provider of trade finance products,” said Conor Sheehy, Head of Fintech Warehouse Finance at HSBC Innovation Banking UK.

About MODIFI:

MODIFI is a global business payments company that helps exporters and importers to facilitate their business internationally. Through its digital platform, the company enables suppliers to receive instant payments while offering buyers the option to defer payments for up to 180 days. Founded in 2018, MODIFI has a presence in 11 locations worldwide, including Amsterdam, Berlin, New York, Mexico-City, Delhi, Mumbai, Shenzhen, Hong Kong, Singapore, Dubai and Dhaka with over 1,500 buyers and sellers across more than 50 countries.

About HSBC Innovation Banking:

HSBC Innovation Banking offers flexible banking solutions for start-ups, scale-ups, growth businesses, investors and those working towards IPO. From comprehensive banking to managing cashflow to plans for buyouts to Global Funds Banking, we fuel ideas at every stage of their journey.

For additional details please contact:
Alyona Povarova
Director of global marketing, MODIFI
[email protected]

Photo – https://mma.prnewswire.com/media/2154649/MODIFI_HSBC.jpg
Logo – https://mma.prnewswire.com/media/2080100/Modifi_Logo.jpg

SOURCE MODIFI B.V.

Round led by investment funds Highland Europe, Energize Ventures and existing investor Elephant underscores critical need for disruptive technology solutions to propel rapidly growing demand for new solar projects

VILNIUS, Lithuania, July 17, 2023 — PVcase, the global leader in solar project design software, announced today it has secured a joint investment of $100 million, bringing the company’s total funding to over $123 million. Highland Europe, Energize and existing investor Elephant all participated in the round.

Despite considerable resources already invested in the solar market, the solar engineering industry lacks the digitization needed to keep pace with demand. As the leading solar design solution PVcase is making solar project design faster, more efficient, and precise while solving the solar industry’s growing problem of “data risk.”

Data risk arises from a chain of factors. Utility-scale solar’s rapid global growth has made qualified designers and engineers scarce, growing developers’ use of software to automate tasks in design and ongoing operations. Yet data sources for that software – particularly in Europe – are in older formats, such as PDFs and hard copy records. And most solar software platforms were designed independent of each other, built to automate only a handful of tasks.

As a result, developers must now use as many as 70 different data sets, most with fields of data that must be manually matched when moving from one software platform to the next. These multiple, time-consuming and customized transfers inevitably degrade data quality, creating data risk.

“Data risk is a technical problem that has become an industry-wide constraint,” said PVcase CEO David Trainavicius. “We plan to use this investment to drive more cost and time savings by offering a one-stop solar design platform.”

PVcase aims to cover every step in the design and operations process in a single platform and this investment comes on the heels of the company’s recent acquisition of solar siting leader Anderson Optimization. The two platforms’ data fields have already been matched, enabling transfer with a few mouse clicks. PVcase also introduced Anderson Optimization software to the European market, first covering Germany, Spain and the UK. PVcase estimates that European developers will be able to cut their project design process from weeks to roughly 20 minutes.

The merged product line carries a significant number of benefits. Trainavicius said the biggest is ensuring developers only spend time and resources on viable sites

“Good, streamlined data across the design and construction lifecycle is the fuel we need to keep the renewable energy transition moving toward a cleaner future. We need to advance solar operations fully into the digital age by reducing data risk. We’re making this investment so PVcase can lead the industry to a solution,” said Irena Goldenberg, Partner at Highland Europe.

“The utility-scale solar industry is poised for explosive global growth in the coming years, yet it currently lacks the digital tools needed to meet the demand of the market,” said John Tough, managing partner of Energize Ventures and now a member of the PVcase board of directors. “Software solutions aimed at automating solar workflows and increasing data integrity are required for the market to become profitable and scalable. After getting to know the PVcase team, product and customers over the last two years, Energize is confident that PVcase is the software the industry needs to unlock its growth potential.”

All three investment funds said they invested in PVcase because its strong financial performance has positioned it to acquire other software platforms in pursuit of its long-term goal of being a one-stop solution for the solar engineering community.

The company has operated almost exclusively from its revenue stream while expanding into 75 countries. This enabled it to build earlier investments into a significant cash reserve to use in upcoming acquisitions.

“In utility-scale solar design and construction, the physical output can only be as good as the software and data inputs. PVcase is building the leading end-to-end solution in the category, allowing its customers to more effectively design and develop scaled solar projects,” said Peter Fallon, General Partner at Elephant. “The Company is growing rapidly and capital efficiently, and we are excited to continue to back the team.”

“For solar data, there are no standards for how much to collect, when and how often to collect it, and what the data should cover,” said PVcase Chief Commercial Officer Douglas Geist. “PVcase’s momentum won the confidence of these investors that we can address this challenge.”

About PVcase

PVcase is a next-generation PV software-as-a-service company. Driven by world-class engineering and a cutting-edge development team, PVcase is helping power the energy transition by making solar project design faster, more efficient and more precise. 

We give design teams the confidence that they can manage the risk to data quality as they use different software platforms for individual tasks in the design process – what we call “data risk.” That’s why PVcase products are the top choice of solar design professionals and development companies in 75 countries. Apart from the acclaimed Ground Mount tool, the company also offers PVcase Roof Mount and Yield software.

Website: www.pvcase.com / LinkedIn: PVcase / Twitter: @wearepvcase / Instagram: @wearepvcase

SOURCE PVcase

Unveils Operators Consortium with Industry Giants Maersk, DHL Supply Chain, SCI, Ryder System Inc., and More to Propel Global Adoption of Recommerce Management Technology

SANTA MONICA, Calif., July 17, 2023 — Arrive Recommerce, Inc., the technology company that powers Returns to Recommerce™ for brands and retailers, announced today that it has raised $16M in Series A funding. The funding will be used to expand the platform to more brands and operators as Arrive Recommerce continues to grow in the booming recommerce industry.

Additionally, Arrive Recommerce is announcing the launch of the Arrive Recommerce Operators Consortium, a group of top operators and retailers interested in recommerce. Maersk, DHL Supply Chain, SCI, Ryder System, Inc, and others have joined the consortium, which will help promote and expand the use of recommerce management technology worldwide.

A sophisticated recommerce solution is becoming an essential component of a brand or retailer’s ecommerce strategy and reverse logistics technology solution. Arrive’s modular and easy to implement Recommerce Management Technology allows brands and retailers to launch a profitable, branded and sustainable resale channel in less than 8 weeks.

The Series A funding was co-led by Javelin Venture Partners and Climatic VC, with participation from other funds including Maersk Growth, Sidekick VC, Cosmic Venture Partners, 444 Capital, Freestyle VC, Animo VC, Banana Capital, Alpaca VC, Regeneration VC and Wedbush Ventures. The total funding for the company now stands at $25.1M.

Arrive Recommerce is leading the resale market with a profitable, sustainable and scalable branded resale channel. Returns to Recommerce™ focuses on turning a cost center into a profit center by helping brands and retailers direct their products such as non-new returns, excess inventory, and damaged inventory into a fully-branded revenue generating resale channel.

Arrive Recommerce powers recommerce for brands and retailers ranging in size and industry and is live with brands offering apparel, outdoor products, and hard goods. Arrive continues to expand with additional brand, retail, and operator partners in 2023. The company recently launched a partnership with YETI to offer their non-new returned products for resale (YETI.Rescues.com).

“Recommerce should be a core pillar of a brand or retailer’s strategy,” says Rachelle Snyder, CEO & Co-founder of Arrive Recommerce. “Our investors and brand partners share our enthusiasm about the evolution of this space, and this funding will allow us to expand our platform, continuing to lead this space with innovation and brand protection.”

“Recommerce is a trend that is exploding with demand from both the brand and consumer side. By providing a profitable sustainable program with our returns based resale offering we have hit a sweet spot in the market,” says Ross Richmond, COO and Co-founder. “It’s great to be solving a problem that brands have been unable to solve effectively to date and create an opportunity for consumers to buy like-new products directly from the brands they love.”

Jed Katz, Managing Director at Javelin Venture Partners, said, “We are excited to co-lead this round and support Arrive Recommerce in their mission to power the recommerce industry. The growth around recommerce is undeniable, and Arrive’s technology is at the forefront of this trend.”

The resale market provides a profitable new revenue stream for brands, and implementing sustainable practices will reduce waste and operational costs and help companies achieve their net zero goals. Recommerce is becoming a staple of every brand and retailer’s product offering.

“Arrive’s focus on sustainability and technology that enables brands to reduce waste and drive profitability aligns with the growing importance of resale and sustainability in today’s market. Consumers are increasingly demanding sustainable practices from the brands they support, and investing in recommerce and sustainability can help brands meet these demands while improving their bottom line,” said Josh Felser, Partner at Climatic VC.

Arrive Recommerce has also garnered the attention of and established relationships with operators and logistics partners as Arrive’s Recommerce Management Technology allows them to easily implement and launch recommerce to their existing brand and retailer clients.

“As a company committed to sustainability and responsible business practices, Maersk Growth is proud to invest in Arrive Recommerce’s mission to reduce waste. Arrive’s technology offers a profitable solution for brands to manage their non-new returns while also reducing their environmental impact. By supporting Arrive Recommerce, we are driving innovation and positive change in the retail industry,” said Peter V Jorgensen, Partner at Maersk Growth.

For more information, please visit https://thearriveplatform.com/.

About Arrive:

Arrive Recommerce is leading the resale market with a profitable, sustainable and scalable branded resale channel. Returns to Recommerce™ focuses on turning a cost center into a profit center by helping brands and retailers divert products such as non-new returns, excess inventory, and damaged inventory into a fully-branded revenue generating resale channel.

Arrive’s Recommence Management Technology, Recommerce Storefront Technology and Analytical Tools allow brands to drive more revenue, more customers and improve operational efficiency. Arrive collaborates with companies in adjacent verticals such as returns management, logistics, and ecommerce enablement to increase margin and value for our brands.

Arrive was named the 4th Most Innovative Retail Company by Fast Company in 2022. Notable partners include brands like YETI and Burton Snowboards.

SOURCE Arrive Recommerce

Company is backed by leading investors including Bessemer Venture Partners and Health Velocity Capital

NEW YORK , July 17, 2023 — Torch Dental, the digital all-in-one dental supply partner for dental practices, announced its latest funding round of $28M which brings total funding since inception to approximately $40M. The Series B investment was led by Health Velocity Capital with participation from existing investors Bessemer Venture Partners, which led previous financing rounds, FJ Labs, Felicis Ventures, Tectonic Ventures, Raga Partners, Town Hall Ventures among other investors.

The investment allows Torch to accelerate the digitization of procurement for dental practices across the United States, continue to grow a world class team and explore additional opportunities to partner with dental practices.

Khaled Boukadoum and Yassine Boukadoum started Torch when they found their dentist sister, Meriem Boukadoum, frustrated with the process of keeping track of her dental products and constantly needing to negotiate to get reasonable prices. As immigrants from Algeria, they found it odd that this sort of haggling and lack of transparency still existed in the modern U.S. healthcare system. They joined forces with software engineer Drew Werner, the son of a dental hygienist, who shared a similar passion for finding a better solution.

“We’re motivated to help dentists discover, order and pay for everything they need to run their practice. It’s rare to find an opportunity to accelerate the transition from analog to digital in such a large and important supply chain,” said Khaled Boukadoum, co-founder and Torch Dental board member. 

A New Take on the B2B Marketplace Approach
The Company has been at the tip of the spear when it comes to B2B marketplace innovation. Unlike consumer marketplaces, B2B marketplaces tend to engage with incumbent supply chains which can have its advantages but also adds the complexity of needing to align the goals of existing stakeholders. Practices currently use a mix of pen and paper, phone calls and emails to track and place billions of dollars of annual orders, which armies of vendor sales reps accept and process.

“I met the Torch team years ago and was surprised to learn that dental practices were still manually ordering supplies with limited price transparency. It seemed to make sense that the future would involve a digital ordering platform and a bit more price transparency,” said Kent Bennett, partner at Bessemer Venture Partners and Torch Dental board member.

Torch has taken a hyper customer centric approach with the goal of empowering dental practices to take control of their supply ordering and back-office operations digitally. Torch offers custom dashboards for practices to discover new products, manage existing supply preferences, easily centralize ordering, and control spend by getting high quality products at fair prices. This saves practices dozens of hours monthly and materially decreases costs. The team is also using artificial intelligence to drive more supply chain efficiencies and better serve customers in their mission of transitioning the space from analog to digital.

“We’ve been impressed with how customer focused the team has been in building, which is delivering great results for their customers – we’re excited to see the adoption continue to grow in the industry.” said Saurabh Bhansali, partner at Health Velocity Capital and Torch Dental board member.

Torch is now partnered with over 2,000 dental practices and supported by industry experts and entrepreneurs such as Jeffrey Slovin (Former CEO of Dentsply Sirona), Joshua Zable (Former Vice President at Dentsply Sirona), Gerard Moufflet (CEO of Acceleration International), Steve Fredette (President, Founder of Toast), Jonathan Vassil (CRO of Toast), Brian Sheth (CEO of Haveli Investments), Geoff Donaker (Former COO of Yelp), Rob Krolik (Former of CFO Yelp) among others.

About Torch Dental
Torch is the digital all-in-one supply partner for dental practices. Torch has partnered with over 2,000 dental practices across the US and is continuing to grow quickly. The team has professional experience from Blackstone, SmartAsset, Datadog, Dropbox and personal ties to the dental industry through family and previous investing and operating experience. The Company is backed by leading investors such as Bessemer Venture Partners, Health Velocity Capital, FJ Labs, Felicis Ventures, Tectonic Ventures, Raga Partners, Town Hall Ventures among other investors. Torch is building a world class, close‑knit team that is energized by solving real‑world problems. 

About Bessemer Venture Partners
Bessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 145 IPOs and 300 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Bessemer’s global portfolio has included Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr, and Toast and has $20 billion of assets under management. Bessemer has teams of investors and partners located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Hong Kong, Boston, and Bangalore.

About Health Velocity Capital
Health Velocity Capital invests exclusively in innovative healthcare software and services companies. The firm’s partners have more than 90 collective years as investors, entrepreneurs, and executives helping to finance and build innovative companies that created important new healthcare markets and that became market leaders, including successful companies such as Teladoc, Livongo Health, Change Healthcare, MDLive, Contessa Health, Headspace Health, Aspire Health, Zipari, IVX Health, Artera (fka Well Health), Compassus, Aperio, The Advisory Board Company, Healthways (Tivity Health), US Renal Care, Spero Health, OnShift, and many others.

Media Contact:
[email protected]com

SOURCE Torch Dental

BREA, Calif., July 17, 2023 — ThreatHunter.ai, a leading provider of cybersecurity solutions, is excited to announce the appointment of David “Dave” Maynor as an advisor and the Keeper of Secrets role. Maynor will work closely with James McMurry, the founder of ThreatHunter.ai, to revolutionize the visualization and tracking of live threat intelligence through a new innovative BirdWatcher platform to be released in Q4 2023.

With an impressive background in the cybersecurity industry, Maynor brings a wealth of experience and expertise to the ThreatHunter.ai team. Prior to joining ThreatHunter.ai, Maynor served as the Senior Director of Threat Intelligence at Cybrary. He has held key positions at renowned organizations including Cisco Talos, Internet Security Systems at IBM, and SecureWorks.

James McMurry, the Founder of ThreatHunter.ai, expressed his enthusiasm about Maynor joining the team, stating, “We are thrilled to welcome Dave Maynor as an advisor and as the Keeper of Secrets. His deep knowledge and extensive experience in the cybersecurity field will be instrumental in advancing our capabilities and driving innovation. Together, we are creating BirdWatcher, a groundbreaking platform that will revolutionize the visualization and tracking of live threat intelligence.”

Maynor’s role as the Keeper of Secrets will involve collaborating with the ThreatHunter.ai team to develop BirdWatcher. This platform aims to transform the way threat intelligence is visualized and tracked, providing organizations with actionable insights to better detect, analyze, and mitigate cyber threats.

“I am excited to join ThreatHunter.ai and contribute to the development of BirdWatcher,” said David Maynor. “The opportunity to work with James and the talented team at ThreatHunter.ai is truly inspiring. BirdWatcher has the potential to revolutionize how organizations leverage threat intelligence, enabling them to stay one step ahead of cyber threats in today’s rapidly evolving landscape.”

ThreatHunter.ai continues to push the boundaries of cybersecurity innovation, investing in top talent and cutting-edge technologies to deliver comprehensive solutions. With Maynor’s addition to the team, ThreatHunter.ai is poised to further strengthen its position as a leader in the industry.

For more information about ThreatHunter.ai and its advanced cybersecurity solutions, please visit https://threathunter.ai.

About Threathunter.ai

ThreatHunter.ai, a 100% Service-Disabled Veteran Owned Small Business, is a leading provider of AI-driven threat hunting solutions. Its advanced machine learning algorithms and expert analysis help organizations detect, identify, and respond to cyber threats. Its solutions are designed to supplement existing security resources and provide a fresh perspective on how to address today’s complex cyber threats.

Don’t miss the opportunity to safeguard your organization with the unparalleled cybersecurity protection offered by ThreatHunter.ai. Visit our website at www.threathunter.ai to explore our unique approach, learn more about our cutting-edge solutions, and discover how we can empower your business to stay ahead of cyber threats. To speak with our experts or schedule a personalized demo, reach out to our sales team at [email protected] or call 714.515.4011. Take action today and ensure the security and resilience of your digital infrastructure.

Media Contact:

Lydia Coulter
714-515-4011
[email protected] 

SOURCE ThreatHunter.ai