Company’s award-winning working capital solutions have provided access to cash flow for 15 years

KANSAS CITY, Mo., April 26, 2023 — C2FO is the first and only platform to provide on-demand working capital to suppliers of major enterprises worldwide. In celebration of its 15th anniversary, the company announced the launch of a new brand and an enhanced website that bring the company’s commitment to ensuring businesses have the capital needed to thrive front and center.

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From the beginning, C2FO’s mission has been to ensure all businesses have the capital needed to thrive. C2FO brings this mission to life by delivering financial and technology solutions that create a better, more inclusive financial system. The company provides fast and low-cost access to capital that taps into trillions of dollars locked up as receivables between buyers and their suppliers worldwide.

Globally, businesses have a common need: better access to the working capital needed to grow. For enterprise customers, C2FO delivers hundreds of millions of dollars of gross profit annually, improves EBITDA and helps strengthen and diversify supply chains. For supplier businesses in its network, C2FO delivered $78 billion of working capital in 2022 by shortening cash conversion cycles by an average of 31 days.

In addition to solving everyday business cash needs, flexible working capital solutions are especially critical when large macroeconomic factors, including rising inflation and interest rate hikes, come into play and businesses face unexpected cash flow gaps. Today’s shifting economy will quickly begin to impact businesses. The tightening of traditional lending means more companies will need alternative ways to access working capital.

“C2FO is helping businesses solve the cash flow crunch and fuel them with fast, flexible and equitable access to low-cost capital. Every day, businesses use the C2FO platform to unlock capital that would not be otherwise available,” said Alexander “Sandy” Kemper, founder and CEO of C2FO. “We founded C2FO to serve every business and to build a better financial system that would enable trillions of dollars of increased global productivity.”

Launching a New Brand for a New Future

C2FO’s new brand showcases a compelling creative identity and messaging platform that reinforces the company’s vision for an equitable financial future. 

“C2FO has always been incredibly purpose-driven – focused on changing the way businesses get paid. But, this was not always easy to understand. Now, when you see C2FO, you can clearly understand who we are, what we do and how we do it. We help businesses get paid faster through our flexible, easy-to-use on-demand platform,” said C2FO Chief Marketing Officer Leslie Olsen.

The new brand emphasizes the key differentiators that enable C2FO to provide unique value to its customers: easy-to-use, patented technology combined with trusted advisors; flexibility that lets customers take control of their cash flow; and, most importantly, equitable access to working capital.

Olsen added, “We’re still the same great company, and remain focused on delivering convenient, low-cost capital to all companies. This is what we do, and why we’re here. And what we’ll keep doing until every business has the capital needed to thrive,” said C2FO Chief Marketing Officer Leslie Olsen.

Elements of the new brand include:

New Website: The company’s new website gives users an enhanced point of entry into C2FO’s intuitive, easy-to-use digital application where customers will continue to get fast, flexible access to working capital.

New Logo: The new visual identity reflects the company’s vision and purpose. The “Cs” of C2FO’s name stand for “collaborative cash flow.” The new design represents the name in a merged double “C” logo. Coming together in collaboration is the core of what C2FO does. The logo also reflects a piece of paper currency that floats into customers’ wallets — or how effortlessly cash flow moves to customers in the C2FO network.

New Brand Colors: C2FO’s core colors are now a series of sophisticated greens, blues and grays. The addition of a bright secondary palette reflects the colors of currency found around the world – and C2FO’s global presence.

View the company’s new site and learn more about the new brand here.

About C2FO
C2FO is the world’s on-demand working capital platform, providing fast, flexible and equitable access to low-cost capital to nearly 2 million businesses worldwide. Using patented Name Your Rate^® technology and a suite of working capital solutions, companies can get paid sooner by the world’s largest enterprises — unlocking billions in risk-free capital. With a mission of ensuring that every business has the capital needed to thrive, C2FO has delivered more than $275 billion in funding around the world. Founded in 2008 and headquartered in Kansas City, USA, with offices around the globe, C2FO is working to build a better, more inclusive financial system every day. To learn more, visit C2FO.com.

Media Contact
Sara Makara
[email protected] 

SOURCE C2FO

• Financing co-led by Arix Bioscience, EQT Life Sciences and SymBiosis, with participation from new and existing investors including Amplitude Ventures, and Series A leads Pivotal bioVenture Partners and Andera Partners
• Capital on-hand provides strong financial position through multiple value-creating milestones across immunology-focused pipeline

PALO ALTO, Calif., April 26, 2023 — Evommune, Inc., a clinical-stage biotechnology company discovering and developing new ways to treat inflammatory diseases, today announced the completion of a $50 million Series B financing. The financing was co-led by new investor Arix Bioscience and current investors EQT Life Sciences and SymBiosis, with participation from new and existing investors including Amplitude Ventures, and Series A leads Pivotal bioVenture Partners and Andera Partners. 

“As a new investor in Evommune, we are excited to partner with the company’s experienced leadership team, which leverages a unique human tissue screening platform to curate its drug discovery and translational medicine decisions,” said Mark Chin, Managing Director at Arix Bioscience. “We believe Evommune is well-positioned to deliver on the promise of its lead investigational medicine, EVO101, targeting interleukin 1 receptor-associated kinase 4 (IRAK4), in addition to rapidly advancing the development of its other compelling programs targeting MRGPRX2 and protein kinase C (PKC) theta (PKCθ).”

The capital raised will support Evommune’s three prioritized pipeline programs targeting highly prevalent inflammatory diseases, including EVO101, a novel small molecule inhibitor of the IRAK4. This molecule is being evaluated in a Phase 2a proof-of-concept trial in patients with atopic dermatitis, with data expected later this year. In addition, Evommune is evaluating EVO756, a preclinical molecule designed to target mast cells by selectively modulating MRGPRX2 to treat chronic spontaneous urticaria and interstitial cystitis, and a discovery program targeting autoimmune diseases via PKCθ. 

“Worldwide, three out of five people die from chronic inflammatory diseases, so continuing innovation in the space is vital. With this financing we are poised to be at the forefront of this movement with funds supporting the rapid progression of our broad pipeline well into 2025,” said Luis Peña, President and Chief Executive Officer of Evommune. “Evommune has multiple value-creating milestones planned over the next two years. We appreciate the continued support of our existing investors, and welcome new investors who share the vision and excitement about our programs to evolve the immunology landscape.”

About Evommune, Inc. 

Evommune, Inc. is a private clinical-stage biotechnology inventing new ways to treat inflammatory diseases. The company is evolving immunology through its unique and dynamic human tissue-based approach to discovering, developing, and delivering therapies that address symptoms and halt progressive disease. Evommune was founded in 2020 by an industry-leading team of R&D experts and biotech company builders, and is headquartered in Palo Alto, California. For more information, visit www.Evommune.com. 

Media Contact:
Sheryl Seapy 949-903-4750
[email protected] 

SOURCE Evommune, Inc.

The funding will fuel Relay’s continued rapid revenue growth and help the organization scale to serve the thousands of frontline businesses choosing Relay.

RALEIGH, N.C., April 26, 2023 — Relay, a cloud platform for frontline teams, announced the close of a $13 million Series-A funding round from Sovereign’s Capital, Wind River Ventures, and existing shareholders.

“We are thrilled to partner with our investors to bring innovative solutions to frontline teams,” said Chris Chuang, CEO of Relay. “The need for digital transformation in frontline work has never been greater, especially with pervasive labor shortages and the lingering effects from the pandemic. This is the time for Relay to accelerate our vision of transforming frontline work by delivering innovative technology, designed specifically for the way frontline teams work and the unique challenges they face.”

Relay is a cloud-based platform that helps frontline teams improve communications, stay safe, and get more done. Demand for Relay’s platform has skyrocketed in the past year, with revenue growth of over 130% year-over-year and the addition of high-profile customers in Hospitality, Healthcare, Facilities Management, and other frontline industries. “This round of funding will enable us to continue accelerating our rapid growth rate, scale our team, and support further product R&D innovation.”

“Frontline workers are the lifeblood of our economy, and they have unique needs that can’t be solved by tools built for desk-bound workers,” said Chuang. “With Relay, we’re making it easier than ever for frontline teams to communicate and collaborate effectively, no matter where they are or what device they’re using. Relay also provides workflow and communications data that frontline leaders have never before been able to accurately measure. With this data, they can improve their operations in multiple ways, as evidenced by a recent customer survey revealing 78% of our customers report an increase in productivity from Relay.”

While many technology companies are experiencing declining revenues and layoffs, Relay’s revenues have more than doubled and the company has hired over 35 new team members in the last 18 months and expects to continue growing its staff. Relay has thrived during these challenging times because the need for its solutions is more critical as frontline businesses urgently search for ways to improve their productivity in the face of recessionary market conditions and unprecedented labor shortages. “In this economy, frontline businesses have to get more done with fewer people. Achieving that requires more efficient communication and better coordination of teams and resources. Relay delivers both and we’re excited to partner with them on this important mission,” said Jake Thomsen, Managing Partner at Sovereign’s Capital.

Driving Relay’s rapid growth is demand for its recently unveiled “Operational Intelligence” platform. Relay’s Operational Intelligence platform provides leaders of frontline teams with real-time analytics on team performance against goals, allowing them to pinpoint areas for improvement. Relay is delivering its Operational Intelligence platform to tens of thousands of frontline workers across the US working in Hospitality, Healthcare, Food Services, Manufacturing, Facilities management, and other industries. 

“What excites us most about Relay is how impactful their seemingly simple solution is for frontline teams. Their platform not only enables teams to communicate more efficiently but to collaborate more effectively as they unlock the data around personal job performance and accountability, overall team productivity, and reduction of operational bottlenecks. It’s clear to us why Relay’s key metrics around customers and revenue retention and expansion are well above industry norms,” said Stephen Mutz, Co-founder and CEO of Wind River Ventures.

Relay is also growing fast in the Hospitality industry, where it serves thousands of hotels and resorts across the US, providing best-in-class safety and communications solutions for their teams. By combining real-time communication with real-time indoor location data, Relay can offer a solution that not only satisfies the requirements of many states and brands, but also allows staff members to summon and efficiently coordinate help in the event of an incident. In a recent survey, 77% of customers reported that Relay improved overall employee safety at their property.

Looking ahead, Relay expects to continue to rapidly grow revenues and scale its team, particularly in sales and customer operations roles, as the company fills out its headquarters office space located in the Advanced Auto Parts Tower in North Hills, Raleigh. 

About Relay:

Relay is a cloud-based technology platform that helps frontline teams (80% of the global workforce) improve communications, increase employee safety, and digitize their physical workflows to become more data-driven and efficient. Relay helps frontline teams digitally transform their operations with the modern tools they need to be successful and the actionable real-time data they need to track performance and improve their operations. Software has not yet transformed the frontline world, and Relay is on a mission to change that. For more information, visit www.relaypro.com.

SOURCE Relay Inc.

BOSTON, April 26, 2023 — Aldena Therapeutics Inc. (Aldena), a private biotech company pioneering siRNA-based therapies for dermatological indications, and Empa, the Swiss Federal research institute for materials science and technology, have been awarded a joint 600′000 CHF grant by InnoSuisse, the Swiss Innovation Agency. This StarCURE grant seeks to co-develop microneedle particles as a new skin delivery system, which will enable novel therapeutic approaches in dermatology by revolutionizing the way drugs are delivered and absorbed through the skin.

This groundbreaking microneedle-particle technology, called STAR particles¹, now under exclusive license to Aldena was originally discovered and developed by Prof. Mark Prausnitz and Dr. Andrew Tadros at the Georgia Institute of Technology in Atlanta. These star-shaped ceramic microparticles enable delivery of large, water-soluble molecules into the skin at the site of application. Aldena Therapeutics is pioneering this technology as part of its portfolio of innovative dermatological programs.

The StarCURE collaboration between Aldena and Empa will be conducted over two years and will aim to establish a scalable manufacturing method for STAR particles and to investigate next-generation STAR particle materials that provide added capabilities.

Dr. Claire Bouix-Peter, Chief Operating Officer of Aldena Therapeutics and project coordinator, commented: “This project is a great opportunity to leverage our expertise in dermatology in collaboration with Empa’s world-class materials and science experts to transform STAR particle manufacturing for commercial-scale production.”

Prof. Prausnitz, co-Founder of Aldena Therapeutics, added: “This collaboration will enable the manufacturability and expanded functionality of STAR-particle technology, which is an essential and strategic next step in the development of Aldena.”

Dr. Michael Stuer, Head of the Nanopowders and Ceramics Group at Empa’s High Performance Ceramics lab, remarked: “This is a great example of how our expertise in ceramic materials can be applied to develop a safe and effective drug delivery technology.”

Prof. Patrik Hoffmann, Head of the Laboratory for Advanced Materials Processing at Empa, added: “This is a very exciting project and I am confident that our joint research efforts will result in a scalable technology that could revolutionize the way skin drug delivery is viewed in the pharmaceutical industry, providing treatments with greater precision, efficiency, compliance and safety.”

About Aldena

Aldena Therapeutics is a Boston, Lausanne and London-based biotechnology company focusing on siRNA-based dermatological treatments, enabled by STAR particles as a novel skin delivery system, for patients suffering from dermatological diseases. It was co-founded by Prof. John Harris (MD, PhD, Professor and Chair of Dermatology at UMass Chan Medical School), Prof. Mark Prausnitz (PhD, Regents’ Professor at Georgia Institute of Technology) and Dr Andrew Tadros (MD, PhD), and is backed by Medicxi. Aldena Therapeutics is pursuing multiple innovative programs and is currently initiating the IND-enabling GLP nonclinical program for its lead projects.

About Empa

Empa, the Swiss Federal Laboratories for Materials Science and Technology, is an interdisciplinary Swiss research institute conducting cutting-edge materials and technology research, based in Dübendorf, St. Gallen and Thun, Switzerland. Empa aims at generating interdisciplinary solutions to major challenges faced by the industry, and at creating the necessary scientific basis to ensure that our society develops in a sustainable manner.

¹ Tadros, A et al., Nature Medicine 2020, v26, p341-347 https://doi.org/10.1038/s41591-020-0787-6

SOURCE Aldena Therapeutics

Xtellar™ is shaping a smarter future by unlocking industry disruption through collaborative additive manufacturing innovation

PHILADELPHIA and SÃO PAULO, April 25, 2023 — Xtellar™, is a US based venture focused on developing innovative materials for additive manufacturing such as 3D filaments, 3D pellets and 3D powders that is being launched by Oxygea, a Corporate Venture Capital firm focused on sustainable innovation and digital transformation in the industry. Xtellar specializes in a wide range of materials that includes Polypropylene, Polyethylene, PETG, Nylon, Bio-Based and Recycled polymers specifically engineered to additive manufacturing applications such as aerospace, automotive, marine, consumer, packaging, and healthcare. This new business venture is the next step in the evolution of Braskem’s – Leader in the production of thermoplastic resins in the Americas and 6th largest petrochemical company in the world – specialty additive manufacturing materials division that was launched in 2020.

Jason Vagnozzi, Xtellar™ CEO, stated: “We are excited for this next chapter in our additive manufacturing business. Since 2020, we have seen exponential growth and the rapid evolution of our portfolio. Xtellar combines Braskem’s 3D materials division, which started with a small portfolio of specialized polypropylene (PP), Bio-Based, and Recycled formulations and taulman3D, which was recently acquired in 2022, adding nylon, recycled PETG, and PETG to our portfolio. With projections for the 3D printing industry expected to grow to over $70 billion by 2030 – growing at an estimated 20% CAGR – we believe this new structure will allow us enhanced opportunities to serve this fast-growing demand. We look forward to partnering with our clients and other organizations to forge breakthrough collaborations and bring innovation to life.”

For Artur Faria, CEO of Oxygea, “We see great disruptive potential in Xtellar, as it is a business that has a transformative profile for the future of sustainability.  This investment is part of our goal of promoting new solutions to the market, accompanying and helping to develop new products that are in line with the ESG agenda. Thus, we believe that investment in Xtellar’s product also adds value to several industries by offering additive manufacturing, something that is increasingly rooted in global supply chains.”

Visit Xtellar™ in person at North America’s largest Additive Manufacturing event, Rapid + TCT, May 2-4 in Chicago. Xtellar™’s booth # is 2412.

Xtellar products and services will officially be available starting June 2023.  For more information about Xtellar’s additive manufacturing portfolio and new brand launch, please visit our website.

SOURCE Xtellar

Replit is Building the Best Cloud and AI Development Experience for Software Creators

SAN FRANCISCO, April 25, 2023 — Replit, the world’s fastest-growing developer platform and creator of Ghostwriter, the generative AI for software development, announced the close of its $97.4 million financing round at a $1.16 billion post-money valuation. Replit will use the new funds to innovate on its core development experience, expand its cloud services for developers, and drive innovation in AI and LLMs through Ghostwriter.

Investor Participation and Funding Details

Andreessen Horowitz’s Growth Fund led the round. Others participating include Khosla Ventures, Coatue, SV Angel, Y Combinator, Bloomberg Beta, Naval Ravikant, ARK Ventures (Cathie Woods), and Hamilton Helmer, the author of ground-breaking “7 Powers.” Previously-invested SAFEs converted in this round, including those of over 2,500 Replit community members in a Wefunder crowdfunding in 2022.

Founder and CEO Statement

Replit founder and CEO Amjad Masad says, “We are relentless in our mission to empower a billion software developers. AI has already brought that future closer. We look forward to expanding our offerings for professional developers.”

Developer Day Livestream – April 25 at 2 PM PT

Please join us on April 25, 2023 at 2 pm PT for our first-ever Developer Day livestream where Replit will announce new product launches and an overview of the power of Replit for developers.

Replit’s Innovations

By continuously delivering improvements on its core developer experience, Replit has grown to 22.5 million developers. Replit innovations include:

• Cloud-based development environment in any programming language
• End-to-end mobile app for full-stack software development
• A multiplayer, collaborative experience that enables true pair programming
• Ghostwriter AI for software creation – AI code completion and AI chat with awareness of a software project’s files and context, speeding up developer productivity >30%
• Scalable, performant infrastructure that supports the full stack creation and deployment of software from the cloud
• Open platform that can deploy to any cloud, use the APIs of any LLM provider, and interoperates with any third-party services

Company Stats

• 22.5 million developers from 200+ countries
• 235 million projects created
• 25 billion monthly external visits to apps and sites hosted on Replit
• 1 million containers running concurrently
• 3 million/second of sustained read/write disk operations
• 10TB of packages cached
• 200,000 AI applications leveraging every major generative AI API

The announcement comes soon after of the company’s partnership with Google, and Replit developers get access to Google Cloud services, infrastructure, and foundation models, further reducing the time from idea to live software on Replit.

About Replit

As the fastest-growing software development platform globally, Replit is home to over 22 million developers. Replit enables developers to quickly set up any development environment and release fully functional live apps in seconds, from anywhere on any device, with the power of AI.

For media inquiries, reach out to [email protected] 

SOURCE Replit

SEOUL, South Korea, April 25, 2023 — Mezzion Pharma (“Mezzion”), a rare disease focused pharmaceutical company, announced that it has secured nearly $40M USD to fund FUEL-2, their confirmatory phase 3 clinical trial, along with future commercialization and regulatory submissions in other countries including Europe.

Mezzion is looking to bring to market JURVIGO^® (udenafil), a highly selective, unique and potent phosphodiesterase type 5 inhibitor (“PDE-5 inhibitor”), for specific use in the estimated global 70K single ventricle congenital heart disease (“SV-CHD”) patients with ages of twelve and above who have undergone Fontan surgical palliation.

The average life expectancy for a Fontan patient is 35-45 and apart from JURVIGO®, there are currently no other pharmacotherapies undertaking clinical development directed to the Fontan patient population. The primary aim of JURVIGO^® treatment in Fontan subject is to (1) improve their exercise capacity, (2) improve their ability to perform everyday physical activities with less effort, and (3) potentially improve their life expectancy and quality of life. Another potential benefit associated with JURVIGO^® treatment may be the slowing of the progression of Fontan-associated liver disease in the Fontan subjects.

Founder and CEO, Mr. Dong-Hyun Park, shared, “We have secured the funds necessary for stable and aggressive progress of FUEL-2 and for submitting to regulatory authorities in other countries including Europe. We submitted the FUEL-2 protocol to the FDA and partnered with a leading global CRO for what will be the largest clinical trial ever conducted in Fontan patients. In addition, we are expanding on global partnerships with hospital systems, advocacy groups, provider networks, and industry leaders dedicated to improving outcomes for those with SV-CHD. Our hope is that by continuing to invest in and support the Fontan patients, others will be inspired to do the same.”

The investment is a paid-in capital increase from BRV Capital Management (“BRV Capital”), a global growth investment platform of BlueRun Ventures, a Silicon Valley-based institutional investment firm known for its early lead investment in PayPal and Waze, the core technology behind Google Maps. Within their healthcare segment, BRV Capital invests in promising biotech companies that can dominate the global market based on differentiated products. BRV has made successful investments/exit into ST Pharm and Arvelle Therapeutics.

Mr. Yoon Kwan, CIO of BRV Capital, stated, “BRV Capital participated in the Cardiology Conference by Children’s Hospital of Philadelphia (CHOP) in Puerto Rico at the end of February of this year and met many doctors and heart disease related professionals in person as part of its diligence effort. And also, we’ve been thoroughly reviewing Mezzion’s FUEL-1 data and the U.S. FDA’s response letters and comments carefully for a long time. As a result, the possibility of new drug approval based on the FUEL-2 Protocol was evaluated very high, so the head office decided to invest in Mezzion.”

Mr. Kwan continued with, “The future market value was estimated considering attainable drug price after commercialization. BRV, as an institutional investor that focuses not on short-term profits, but on differentiated technology-based investments that can substantially grow, we would like to provide support from the new drug approval of udenafil to the success of global commercialization with strong partnership. We also subscribe to Mezzion’s corporate philosophy of helping all the patients around the World who are suffering from congenital diseases to open-up a new life.”

About BRV Capital Management:

BRV Capital is a tech-focused growth equity arm of BlueRun Ventures, with a highly localized presence in Asia. BRV Capital helps to create unique long-term growth by backing category winners in their respective industries and maximizing their potential through leveraging over 20 years of deep industry insight and global expertise in applying technological innovations. 

Founded in 1998, BlueRun Ventures has identified and led several iconic technology investments as the first institutional investor, including PayPal (PYPL), Waze (GOOG), Coupa (COUP), Kabbage (AMEX), Topsy (AAPL), and Chomp (AAPL). BRV Capital in parallel focuses on technology-powered growth opportunities in Asia, and its current select investments include Ecopro Materials (leading EV battery component technology provider in Korea), LINE MAN Wongnai (top O2O platform in Thailand), and Green Labs (leading agricultural technology company pioneering digitalization of the entire agriculture value chain). BRV Capital closed its third Asia-focused fund, BRV Lotus Fund III, in 2021 and will continue to focus on cross-border value creation leveraging BRV’s deep and long investment insight into mobility. 

About Mezzion Pharma Co., Ltd. Mezzion Pharma Co., Ltd. is headquartered in Korea. Mezzion and its wholly owned subsidiary, Mezzion Pharmaceuticals, Inc., have administrative offices in Deerfield, Illinois and Boca Raton, Florida. Mezzion Pharma is an innovation-driven pharmaceutical company that is focused on discovering, developing, and commercializing novel therapeutics in the field of rare pediatric diseases. Mezzion Pharma is a publicly listed pharmaceutical company in Korea on the Korean stock exchange under (140410:KOSDAQ).

Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding: Mezzion Pharma’s expectations regarding the potential benefits of udenafil; Mezzion Pharma’s expectations regarding the anticipated timing of any future clinical trials; Mezzion Pharma’s expectations on regulatory submissions for marketing approval of udenafil for the treatment of patients that have undergone the Fontan operation, to improve exercise capacity in the United States, including the timing of these submissions; and Mezzion Pharma’s expectations regarding the potential commercial launch of udenafil, including the timing of a potential approval of udenafil. Risks and uncertainties that contribute to the uncertain nature of the forward-looking statements include: the expectation that Mezzion Pharma will need additional funds to finance its operations; Mezzion Pharma’s or any of its collaborative partners’ ability to initiate and/or complete clinical trials; the unpredictability of the regulatory process; the possibility that Mezzion Pharma’s or any of its clinical trials will not be successful; Mezzion Pharma’s dependence on the success of udenafil; Mezzion Pharma’s reliance on third parties for the manufacture of Mezzion Pharma’s udenafil and udenafil tablets; possible regulatory developments in the United States and foreign countries; and Mezzion Pharma’s ability to attract and retain senior management personnel.

These and other risks and uncertainties are described more fully in Mezzion Pharma’s most recent filings with the Statements under the Private Securities Litigation Reform Act: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to FDA review and approval, product development and acceptance, manufacturing, competition, and/or other factors, which are outside the control of Mezzion Pharma. All forward-looking statements contained in this press release speak only as of the date on which they were made. Mezzion undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Media Contact:

Dr. James Yeager, Deerfield, Illinois, USA, Tel: +1-847-2122679
Email: [email protected]

Mr. S.I. Noh, Seoul, Korea, Tel: +82 2 560 8000
Email: [email protected]

SOURCE Mezzion Pharma Co. Ltd.

Series B Total of $20 Million to Drive Research & Development of AI-Based Computer Vision Solutions, Expansion Into Industrial and Other Non-Automotive Applications

PORTLAND, Ore., April 25, 2023 — PreAct Technologies, a market leader in near-field software-definable flash LiDAR technology, today announced the second close of the company’s Series B funding round. Led by I Squared Capital, PreAct raised a total of $20 million in the series B with participation from previous investors State Farm Ventures®, Luminate, and Traylor Capital among other new and existing investors. In addition, the company has established its new European headquarters in Barcelona, Spain.

In January of this year, PreAct acquired AI-driven computer vision and gesture recognition company, Gestoos, which combines the company’s powerful AI algorithm development platform with PreAct’s best-in-class flash LiDAR to create a unique environment to quickly solve difficult use cases such as in-cabin and cargo monitoring. Marrying a powerful AI algorithm development platform with PreAct’s LiDAR gives the company a greater ability to intelligently process sensor data on the edge, as well as being less reliant on system integrators to deliver new applications or differentiated software-defined services.

“The amount of interest we are seeing from industries such as robotics, agriculture and healthcare has been mind-blowing – it’s clear that there is a strong need for powerful AI-based computer vision technology that is both affordable and able to stand the test of time by being fully software definable,” said Paul Drysch, CEO of PreAct Technologies. “Our team is excited and ready to meet the needs of customers in a variety of use cases that, until now, have been too difficult and too expensive to address.”

Markets such as automotive, healthcare, smart buildings, consumer electronics, robotics and trucking require ever more powerful sensors capable of quickly and accurately mapping their surroundings.  PreAct’s mission is to support these users with reliable and affordable systems that can be quickly tailored to integrate with their existing software stacks and continually upgraded to enable new use cases for enhanced system monetization.

About I Squared Capital

I Squared Capital is an independent global infrastructure investment manager with over $36 billion in assets under management focusing on utilities, digital infrastructure, energy, transport, environmental infrastructure and social infrastructure in North America, Europe, Latin America and Asia. Founded in 2012, the firm has offices in Miami, London, New Delhi, Hong Kong, Singapore, Taipei and Sydney.

About PreAct Technologies

About PreAct Technologies
PreAct Technologies is the market leader in near-field software-definable flash LiDAR technology. Its patent-pending suite of sensor technologies provide high resolution, affordable LiDAR solutions to a wide range of industries including automotive, healthcare, ITS, industrial, consumer electronics, robotics and trucking. The firm is headquartered in Portland, Oregon, with offices in Ashburn, Virginia, Rochester, NY and Barcelona Spain. For sales inquiries, please contact [email protected]. For more information, visit www.preact-tech.com.

Press Contact:

Angela Simoes
4153022934
http://www.preact-tech.com

SOURCE PreAct Technologies

Ledgebrook, an insurtech MGA startup focusing on middle market E&S, has closed a $4.6M funding round led by Markd with participation by Brand Foundry Ventures

BOSTON, April 25, 2023 — Ledgebrook, a Boston-based insurtech founded in March 2022, has announced that it raised a $4.6M round of funding to scale its flagship non-admitted GL & Supported Excess product & support the development of future offerings.

By leveraging a combination of both the best of modern technology and underwriting expertise, Ledgebrook aims to differentiate itself by offering the fastest, smoothest quoting experience to its wholesale broker partners.

Buoyed by the positive reception to the launch of its first product, Ledgebrook will look to move quickly in staffing up to accommodate demand and recruiting the next set of underwriting leaders to launch additional LOB on the back of the same core tech stack.

Led by Parker Beauchamp at Markd, the round is structured as an uncapped SAFE and brings Ledgebrook’s total funds raised to $8.8M.

“For many reasons, I love and have an immeasurable amount of confidence in Gage, and I want to help him in anyway that I can.” said Beauchamp, “E&S was the largest, most profitable, and most painful to place business in every agency/brokerage operation I have ever been involved in. I’m glad someone is capable and willing to go after it.”

“I’m absolutely thrilled to bring Parker aboard Team Ledgebrook,” said Founder & CEO Gage Caligaris, “his experience of having placed >$1B in premiums as the owner of a retail brokerage makes him uniquely qualified to offer insight and support to Ledgebrook as we grow.”

Ledgebrook’s Seed round was led by Brand Foundry Ventures who, alongside a handful of other angels, added to their investment by participating in the SAFE.

“This opportunistic capital infusion couldn’t come at a better time,” said Caligaris “The unwavering support of trusted partners and a war chest in our back pocket allows Ledgebrook to stay laser-focused on execution in the wake of launching our first product.”

About Ledgebrook

Ledgebrook is a tech-enabled E&S MGA looking to provide the fastest, easiest quoting experience to wholesale brokers while delivering best-in-class pricing and risk selection via their innovative next-gen tech stack. Led by insurance industry veterans, Ledgebrook offers the best of both worlds: deep insurance expertise empowered by the best of modern technology. Visit us at ledgebrook.com

About Markd

Markd is a venture capital company focused on funding and partnering with transformative insurtechs. It pays homage to the insurance industry’s legacy while helping design its future. Markd’s mission is to power substantial work and continually inspire more ideas to prevent hurt and loss.

SOURCE Ledgebrook