New Funding Led by StepStone Group, with Participation from Current Investors will Accelerate the Growth of Accounting Automation Platform
NEW YORK, April 19, 2023 — Trullion, a leading provider of corporate accounting software, today announced the completion of $30m in financing to accelerate its growth and expand its product offerings. The financing includes $15 million from its initial Series A round led by Third Point Ventures, and an additional $15 million, led by Stepstone Group, with full participation from its existing investors Aleph, Third Point Ventures and Greycroft.
Trullion plans to use the new funding to accelerate the growth of its artificial intelligence (AI)-based applications, and to develop two new modules supporting audit and revenue recognition. The company’s AI-powered accounting platform connects corporate controllers, CFOs, and external auditors on one platform, providing a single source of truth for financial leaders.
“It’s a great company at a critical time in the accounting world,” StepStone Group Partner John Avirett notes. “We believe this is the right time to get on board. The financial industry needs powerful, cost-effective technology that can automate critical processes and minimize risk. Companies are also discovering that AI and accounting automation is essential to keeping up with financial standards.”
“It is a pivotal moment now for the financial sector and our solution creates transparency at a time when that is needed most,” says Trullion CEO Isaac Heller. “We had a strong balance sheet from our Series A, but given our 2022 performance and multi-year growth prospects, we saw an opportunity to bolster our product investment while bringing on a top global investment partner in Stepstone.”
Trullion leverages artificial intelligence and machine learning to automate accounting and compliance workflows, such as Lease Accounting, Revenue Recognition and Audit automation tools. The company has raised $34m to date since launching in 2020.
About Trullion
Trullion is an AI-powered accounting platform that automates financial workflows for CFOs, accountants, and auditors to increase efficiency, prevent costly oversights, and drive collaboration. Established in 2019, Trullion is headquartered in New York, NY with offices in Tel Aviv and backed by Aleph, Third Point Ventures, Greycroft, StepStone Group and leading global CFOs. To learn more about Trullion, visit www.trullion.com.
The report finds $90B have been invested in robotics startups over the last five years
CAMBRIDGE, Mass., April 19, 2023 — F-Prime Capital, today announced the release of its State of Robotics report. The report provides comprehensive insight into investment trends and exits. Over the last 5 years, 1,250 robotics companies have generated $20B+ of M&A, $15B of market cap across public companies, and $100B+ of unrealized value from private unicorns alone. 2022 saw a significant pull back in valuations for robotics companies as investors focused on higher revenue predictability and increased capital efficiency, though many companies were able to retain premium valuation multiples.
The report analyzes which companies should be classified as “robotics” and what use case they are pursuing.
“We’ve seen an incredible evolution of business models and investment dynamics in robotics, which has been difficult to define within traditional VC deal databases. The emergence of autonomous vehicles has been the catalyst for a new generation of engineers and entrepreneurs who are building the next generation of robotics companies, which are solving real-world problems,” said Sanjay Aggarwal, Venture Partner at F-Prime Capital. “The growing number of opportunities, quality of entrepreneurs and market leaders in the industry are making robotics an attractive sector for VC investment. We’re excited to present our first State of Robotics report, providing valuable insight into investment trends and exits, and a glimpse into the future of the robotics industry.”
According to the report, the last five years saw $90B invested in startups across the global robotics industry, representing roughly 10% of overall VC investments in technology. Western markets, including the US, Europe, and Israel represent 70% of overall investment.
The report identifies three primary categories of robotics investments:
Vertical Robotics(use-case specific, industrial-focused): One of the more exciting trends in the industry has been the growth of Vertical Robotics, with the sector defying the overall VC market by growing again in 2022. Vertical Robotics focuses on very specific use cases across a range of industries, including logistics, medicine, defense, and manufacturing.
Autonomous Vehicles (public roads only): The major driver of investment has been for AV companies, with more than 50% of investments flowing to AV in most years. However, with the sharp pullback of investments in 2022, AV was particularly impacted as investors began to question the path to commercialization for many of these companies.
Enabling Systems (hardware and software components for developing complete solutions): Rapid evolution of the building blocks for robotics enables start-ups to leverage off-the-shelf hardware, while innovating with modern advances in computer vision and machine learning. Rapid prototyping enabled by 3D printing also helps accelerate product development cycles.
The report also highlights Asia as an end-user market and an early adopter of robotics. For example, many companies focused on logistics robotics have found success selling in Japan. Meanwhile, several Chinese automotive OEMs are already rolling out LiDAR on production vehicles.
The State of Robotics Report can be accessed here.
About F-Prime Capital
F-Prime Capital is a global venture capital firm investing in technology and healthcare. For over 50 years, we have had the privilege of partnering with great entrepreneurs building groundbreaking companies. In technology, we focus on enterprise software, fintech and frontier tech. While we are early-stage investors by choice, we back exceptional teams at any stage.
F-Prime Capital has over $4.5 billion under management and a global portfolio of more than 290 companies including Alibaba, AppsFlyer, Benchling, BenchSci, Flywire, FutureAdvisor, Kensho, Neo4j, OTA Insight, PingIdentity, Quovo, Recurly, RiskRecon, Snapdocs, Toast, Vendr and Xoom.
F-Prime has offices in Cambridge, MA, San Francisco, CA, and London, UK.
For more information, please visit fprimecapital.com and follow us on Twitter and LinkedIn.
SAN FRANCISCO, April 19, 2023 — Marubeni, a leading Japanese trading company, and KitchenTown, a Silicon Valley-based food start-up incubator, signed an investment agreement on April 13, 2023. Marubeni’s investment will support the growth of KitchenTown’s consulting, and incubation activities. Together, the companies intend to support Japanese startups entering the U.S. market and the growth of American startups expanding into Asia.
“Startups drive the growth of the global economy as they break the mold of conventional wisdom and create new value,” says Takanori Koso, General Manager of Food Products Materials Dept. for Marubeni. “In order for these startups to achieve maximum impact, they need support to overcome hurdles in product development, commercialization, brand strategy and more. Incubators are a proven model to efficiently provide resources, expertise, and support to early-stage ventures. Our investment in KitchenTown will expand access to these services and reach even more food and foodtech companies in both the U.S. and Japan, in order to lead to positive food systems impacts.”
“Within the food industry, global challenges such as climate change, nutrition and health inequities are driving entrepreneurs to create a new generation of more sustainable, accessible, and healthy foods. Consumers are also increasingly aware of these issues and demanding responsible action from food companies,” adds Rusty Schwartz, CEO of KitchenTown. “With Marubeni’s investment, we will be better capitalized and positioned to enable innovators to make a difference.”
Founded in 2014, KitchenTown provides startups with the knowledge and resources needed to develop, commercialize, and launch a wide range of food and food tech ventures. In addition to specialized expertise and resources to support startups, KitchenTown also offers production space to entrepreneurs for R&D and small-scale manufacturing, including a newly opened San Francisco lab and pilot facility for commercialization of alternative proteins. In addition to supporting startups, KitchenTown also has a broad client base, including legacy companies that need innovation support as well as corporate venture groups seeking advice on food tech investment opportunities.
Marubeni Corporation is over 160 years old and one of Japan’s largest trading companies. Active internationally in many sectors, including import/export, lifestyle, food, agri business, forest products, metals & mineral resources, energy, infrastructure, finance, leasing & real estate, construction, mobility and next generation business development.
KitchenTown and Marubeni first collaborated in 2021 to develop, commercialize, and launch a new product. The success of this project highlighted a strategic opportunity for more cooperation to support the growth of startups and food companies seeking to solve social issues through food tech.
With this agreement, Marubeni’s global network and KitchenTown’s specialized knowledge and experience with food startups will combine to create business and social impacts through the support of food and foodtech innovators.
SYDNEY, April 19, 2023 — Novalith Technologies, creator of a novel lithium extraction process that will unlock vast resources and deliver them without the environmental toll of traditional approaches, has raised AU$23 million in Series A funding. Led by Lowercarbon Capital, the round includes participation from the Clean Energy Finance Corporation (CEFC), the Grantham Environmental Trusts’ Neglected Climate Opportunities Fund, TDK Ventures and Investible.
Novalith Technologies Team
The auto industry is in the midst of a once-in-a-century shift, replacing the internal combustion engine with electric alternatives that rely on the same core piece of technology: lithium-ion batteries. To fuel this revolution, the world needs to produce up to 2.7 million tonnes of lithium carbonate equivalent by 2030, a 4-fold increase since last year. Until recently, most of the energy-dense metal that the industry uses today came from brine resources: naturally-occurring salt lakes concentrated in the “Lithium Triangle” countries of Chile, Argentina and Bolivia. These projects require large evaporation ponds that are harmful to the environment, hard to get approved, and yield low product purities.
Those challenges have spurred industry interest in hard rock resources, which are plentiful and currently provide ~60% of the world’s lithium but, based on current methods, are difficult, expensive, environmentally harmful and can’t be brought online fast enough to meet demand. At Novalith Technologies, we have pioneered a novel process that remakes hard-rock lithium extraction and refining into a dramatically cheaper, greener and more scalable process.
Instead of the traditional method that relies on significant amounts of sulfuric acid to extract lithium, a process that leaves behind a plethora of harmful by-products and waste, Novalith uses carbonated water to extract the lithium directly as battery grade lithium carbonate and leaves a by-product of inert, CO2-infused rock.
Novalith’s technology cuts process costs, plant costs, and plant footprints by up to 65%, 50%, and 25%, respectively compared to the conventional process. It uses 90% less water than current approaches and promises to supercharge the energy transition by opening mineral resources in new geographies. When paired with renewable energy sources, the technology opens a path to carbon-negative lithium production.
Led by Steven Vassiloudis, a repeat entrepreneur and chemical engineer, Novalith has assembled a team of top scientists, engineers, and fossil fuel refugees working together to speed the arrival of the lithium century. This funding will enable us to scale up and commercialise our patented LiCAL™ Technology, including a new pilot facility in Sydney, Australia, which will be used to process numerous lithium resources from around the world and produce lithium carbonate for testing by customers.
Since raising our seed funding round in August 2021, Novalith has built out our R&D facility in Sydney, Australia, demonstrating the performance of our patented process across several different local and global ore resources and a path to sustainable and carbon-negative lithium production.
“It’s a massive opportunity to be able to disrupt and meaningfully contribute to something as important as electrification & decarbonisation. We are very grateful to have the support of a strong group of mission aligned investors who understand the urgency and significance of what we’re aiming to achieve,” said Steven Vassiloudis, founder and CEO of Novalith. “Our technology has the potential to significantly decarbonise the lithium supply chain as well as unlock new lithium ore reserves and opportunities, providing low cost and environmentally sustainable lithium to a world that is rapidly racing towards an electric future.”
“Novalith halves the cost of extracting lithium from hard rocks with tech that’s also cleaner and faster, giving us a shot to keep up with exploding demand without turning the whole planet into an open-pit mine,” said Chris Sacca, Managing Partner of Lowercarbon Capital.
CEFC CEO, Ian Learmonth said: “Australia ranks amongst the largest lithium producers in the world, and it’s clear the world will need more lithium than it has now. Novalith’s ambitious technology is changing lithium production to make it greener and more cost effective to power the batteries we need for the storage and electric vehicles that are transforming our energy future.”
Managing Partner Virescent Ventures Kristin Vaughan said: “By investing in innovative Australian companies like Novalith, the CEFC is backing the development of a sustainable potential on-shore solution for lithium production and helping to strengthen the sustainability of supply-chain in Australia.” Virescent Ventures manages the Novalith investment on behalf of the CEFC.
“Novalith’s innovative technology not only allows faster access to Lithium for meeting our rapid electrification ambitions, but it also does so by converting CO2 to valuable battery material, hence drastically reducing the overall CO2 footprint of the process,” said Anil Achyuta, TDK Ventures’ Managing Director.
About Novalith
Novalith Technologies is a Sydney, Australia based climate technology company that uses carbon dioxide to simplify lithium chemicals production.
We are motivated by our belief that the future of lithium mining and refining will require the elimination of carbon-intensive energy sources, and ideally turn carbon waste into carbon value.
Novalith’s LiCAL™ lithium extraction technology uses significantly less equipment, chemical reagents, water and energy than conventional processing, which reduces capital and production costs. The direct use and sequestration of CO2 in producing lithium chemicals also produces a much smaller emissions footprint than existing and alternative processes.
OVERLAND PARK, Kan., April 18, 2023 — Tesseract Ventures announced today that the company has been awarded a direct-to-Phase II Small Business Innovation (SBIR) grant by the Space Force through AFWERX.
The research proposal, submitted under the 23.4 SBIR cycle, has been approved for a $1,250,000 contract for research and development (R&D) at Space Launch Delta 45 at Patrick Space Force Base, FL, and at Cape Canaveral, FL.
Space Force
For All Kind
Under this grant, Tesseract will further develop their Tesseract Smart Space, Prism hardware and Mosaic software to create a multi-dimensional common operating picture of the launch environment. These tools will enable Space Force to accurately track machines, people and objects on the base, and create a clearer understanding of launch conditions through next generation data visualization.
Prism’s real time location tracking hardware works with Mosaic’s data analysis software to collect and parse data from across the spaceport. These work to track inventory, equipment status, staff locations, environmental conditions and much more. This information can then be used to visualize a digital twin of objects such as rockets, or the entire space port. Armed with a data-enhanced picture that can be viewed from multiple vantage points in the Tesseract Smart Space, teams will get up-to-the-minute insights into a vast array of conditions that can enhance safety, increase efficiency and produce better outcomes.
John Boucard, Tesseract Ventures CEO said, “At Tesseract Ventures, we are driven by a sense of duty and purpose to make a positive impact on the world through the development and deployment of cutting-edge technology—for exactly the right customer at exactly the right time. Our SBIR Phase 2 relationship with the United States Space Force is an incredible opportunity to leverage our innovation studio, For All Kind, to accelerate the development of advanced 21st century wearable robotics, data visualization in all dimensions, and digital twin technology. It is an honor to be part of this contract.”
About Tesseract Ventures Tesseract Ventures was founded in 2018 by John Boucard, a veteran inventor, engineer and technologist. The company enables businesses to defy the boundaries of space and time through next-generation technologies. Robots, smart spaces, wearables and radically connected platforms are just some of the tools created by Tesseract in its mission to make industries smarter, better connected and more efficient. The company is based in Tampa, FL and Overland Park, KS. For more information, visit www.tesseractventures.io.
Acquisition Includes Six Autism Centers in Connecticut and Massachusetts and Establishes Major Physical Presence for Cortica in Northeastern U.S.
Company also Acquires Melmed Center, a Leading Developmental Pediatrics Group in Arizona
SAN DIEGO, April 18, 2023 — Cortica, the leading physician-led autism services company that treats the whole child and helps children with developmental differences thrive, has closed a $75 million financing and acquired Springtide Child Development. The funding round was led by Deerfield Management and Optum Ventures. In the acquisition of Springtide, a premier integrated data-driven autism provider in the Northeast, Springtide’s investors have rolled their equity entirely into Cortica. Cortica has also acquired the Melmed Center, a leading developmental pediatrics clinical and research group based in Arizona. The company now owns and operates 23 integrated autism centers across the country.
Additional new investors include RA Capital Management and Echo Health Ventures, alongside existing Cortica investors Longitude Capital, .406 Ventures, Questa Capital, Ajax Health, Aperture Venture Partners, and the Autism Impact Fund.
“We’ve been very impressed with Springtide’s product and clinical quality. Our combination brings together two leaders in whole-child autism care and enables us to extend Cortica’s medical model to Springtide’s centers,” said Neil Hattangadi, M.D., Co-Founder and CEO of Cortica. “We’ve also long admired the Melmed Center’s research and clinical capabilities and are thrilled to welcome them into Cortica as our platform for growth in Arizona. We’re honored to have Deerfield, Optum, RA, and Echo join our investor syndicate, which now includes five of the country’s leading health plans. This represents an important validation of our clinical outcomes, payer cost savings, and custom technology platform Axon.”
“Springtide and Cortica share the same passion and holistic approach to serve children and families living with autism and neurodevelopmental differences,” said Jia Jia Ye, Springtide’s Founder and CEO. “Our entire organization is energized to come together as one company, enabling us to provide even more services and care to those who depend on us as trusted partners.”
“As a physician, former state Medicaid chief executive, and national health plan executive, I couldn’t be more excited about Cortica’s national leadership role in defining integrated care for children with autism as a new category for value-based care,” said Julian Harris, M.D., Operating Partner at Deerfield. “The investment in Cortica and acquisition of our portfolio company Springtide will also accelerate the value-based care agreements that both companies have in the Northeast. Cortica’s validated whole-child care model delivers better outcomes at lower cost and represents the future of autism therapy.”
Since its founding in 2017, Cortica has grown into an organization with more than 1,600 employees, including pediatric neurologists, developmental pediatricians, epileptologists, pediatric nurse practitioners, speech language pathologists, occupational therapists, physical therapists, music therapists, board certified behavior analysts, registered behavior technicians, social workers, marriage and family therapists, care navigators, and more. The company has also built the Cortica Innovation Network, a team of researchers and physicians who conduct outcomes research and are a global leader in clinical trial recruitment. Their work advances the neurodevelopment field and informs the Cortica Care Model with the latest breakthroughs in therapy and medical care. Through Cortica’s organic growth and new acquisitions, the company will serve more than 10,000 neurodivergent children and their families this year.
About Cortica Inc. Cortica’s mission is to design and deliver life changing care – one child, one family, one community at a time. Cortica was founded to fix the fragmented journey families typically navigate while seeking diagnoses and therapies for their children. The company seamlessly blends neurology, research-based therapies, and technology into comprehensive care programs. Cortica’s coordinated approach leads to best-in-class member satisfaction and empowers families to achieve long-lasting, transformative results. For more information, please visit corticacare.com.
About Deerfield Management Deerfield is an investment management firm committed to advancing healthcare through investment, information and philanthropy. The Firm works across the healthcare ecosystem to connect people, capital, ideas and technology in bold, collaborative and inclusive ways. For more information, please visit deerfield.com.
About Optum Ventures Optum Ventures is the independent venture fund of UnitedHealth Group. Optum Ventures invests in digital health companies that use data and insights to help improve consumers’ access to healthcare services and how care is delivered and paid for, and that make the health care system more reliable and easier to navigate. For more information, visit optumventures.com.
HONG KONG, April 18, 2023 — Huayi Tencent Entertainment Company Limited (“Huayi Tencent Entertainment“, the “Company“; Stock code: 419.HK; together with its subsidiaries collectively known as the “Group“) and its subsidiary “Shaanxi Yizhinuo Information Technology Company Limited” (the “Echartnow“) are pleased to announce that they entered into the Capital Increase Agreement with Zhangjiagang Yitang Equity Investment Partnership (Limited Partnership) (the “New Investor“). The Capital Increase Agreement stated that based on the valuation of Echartnow at RMB600 million before the completion of the Capital Increase, the New Investor has conditionally agreed to make a capital contribution in total of RMB40 million in cash to acquire 6.25% equity interests of Echartnow.
Echartnow to be benefited from the strong background of state-owned investor
Echartnow has experienced rapid growth in revenue and development in the past two years, and has successfully built up the businesses of digital marketing services for pharmaceuticals. In order to further support the long-term growth of Echartnow, management of the Group considered that it is currently the appropriate timing to introduce a new financial investor. The New Investor, Zhangjiagang Yitang Equity Investment Partnership (Limited Partnership), is principally engaged in equity investment, investment management, asset management, technology promotion and application services in the form of private equity funds. Its ultimate controller is Zhangjiagang High-tech Zone Investment Holding Company Limited, an investment holding company which is a state-owned entity in Zhangjiagang City, Jiangsu Province of the PRC. The Capital Increase from a state-owned entity is a proof of the Group’s development achievements of Echartnow. With this Capital Increase, Echartnow will be able to benefit from the additional government, business and networking resources from the New Investor, enabling Echartnow to occupy the leading position in China’s digital healthcare marketing market.
The Capital Increase from the New Investor also justifies the Group’s decision to acquire Echartnow. Since the Group acquired Echartnow in April 2021, it has gradually developed and has quickly become the core business of the Group. Its total operating revenue and gross profits in 2022 have reached approximately HK$608 million and HK$336 million respectively. Upon completion of the Capital Increase, the equity interests in Echartnow owned by the Group will have been diluted to less than 50%, but the Group will still retain control over the operations of Echartnow in the future. Therefore, Echartnow will continue to be treated as subsidiaries of the Group, and accordingly the revenue and the financial results of Echartnow will continue to be consolidated into the Group’s consolidated financial statements.
Echartnow is planning for IPO within five years, which will significantly boost the Group’s return
Upon completion of the Capital Increase, Echartnow’s entity value will be enhanced to RMB640 million, representing an approximately 2.6-times increase in value comparing to the implied value as reflected by the Group’s investment costs up to RMB90 million for a 51% interest before the Capital Increase, which proved that the Group has successfully transformed to internet healthcare businesses with the market recognition of the outstanding performance of Echartnow, and its future value will be far beyond that.
With the execution of the Capital Increase Agreement, the Group and the New Investor also entered into the Echartnow Shareholders’ Agreement, in which Echartnow shall use all endeavours to achieve the initial public offering on a reputable securities exchange (namely the Shanghai Stock Exchange, the Shenzhen Stock Exchange, the Science and Technology Innovation Board of the Shanghai Stock Exchange, the Stock Exchange, the New York Stock Exchange or NASDAQ) within 5 years. The Group will make every effort to realise the IPO of Echartnow, and promote the continuous growth of Echartnow with the goal of maximising the shareholder value.
Strong in execution, the Group’s management aims to become a leading digital healthcare marketing enterprise in the PRC
Mr. Yuen Hoi Po, Executive Director and Chief Executive Officer of Huayi Tencent Entertainment, said, “The Group is very pleased to bring in a new investor for Echartnow. Looking back at the beginning of 2021, the Group’s management had the foresight to foresee the development potential of internet healthcare market in the PRC, and seized the opportunity and made a strategic move to transform into the internet healthcare sector. The Group has achieved such remarkable results in a short period of time, which proved that the Group’s management has great insights. The Group has established a firm foothold in the internet healthcare and digital healthcare marketing sector, and is on its way to becoming the market leader.”
Mr. Yuen Hoi Poalso pointed that, “After the past two years’ dedicated development, Echartnow has been continuously upgrading, expanding in scale, and has rapidly become one of the core businesses of the Group. The capital increase from the New Investor with state-owned background has fully verified the great confidence to the prospects of Echartnow. Looking forward, the Group will further drive the long-term growth of Echartnow’s performance target so that Echartnow can continue to thrive, and be successfully listed within five years. The Group will use all endeavours to maximise the value of the Group and Echartnow for the benefit of our shareholders.”
About Huayi Tencent Entertainment Company Limited
Huayi Tencent Entertainment Company Limited (Stock Code: 00419.HK) conducts businesses mainly in internet medical healthcare sector, which include “Echartnow”, a digital marketing services platform for pharmaceuticals, and “Meerkat Health”, a platform for smart healthcare services, striving to provide a series of online healthcare services and to build an internet healthcare platform ecosystem.
For more information about Huayi Tencent Entertainment, please visit the official website of the Group: http://www.huayitencent.com.
This press release is issued by Joint PR Consultants Limited on behalf of Huayi Tencent Entertainment Company Limited.
SOURCE Huayi Tencent Entertainment Company Limited
Augmentir announces its latest funding round and continued organizational growth to help power the future manufacturing workforce with AI.
HORSHAM, Pa., April 18, 2023 — Augmentir, provider of the world’s only AI-based connected worker solution, announced today that it has completed a new financing round and is expanding its team to support the company’s accelerating growth.
Augmentir is known for its one-of-a-kind, industry-leading connected worker technology, that harnesses the power of AI to digitize and optimize frontline work based on worker capability and task complexity. This technology adds precision to workforce development by helping manufacturers identify opportunities to improve training and optimize upskilling and reskilling programs. In February, Augmentir announced that it expanded its AI platform to incorporate Generative AI and other foundational technologies underpinning ChatGPT. This addition represents another step forward in the company’s AI-first journey, and unlocks even greater potential for manufacturers looking to improve support for their frontline workforce.
The new financing round, led by Gardner Lewis Asset Management, includes participation from Lerer Hippeau, Pritzker Group Venture Capital, and the Company’s founding team. The investment will be used to expand Augmentir’s global sales and marketing efforts while accelerating product development and innovation.
“We’re thrilled to be able to raise capital at a significant increase in Augmentir’s valuation, at a time when peers are struggling in the market,” said Russ Fadel, CEO of Augmentir. “Our exponential growth is a result of our commanding AI-based competitive advantage, and has given us a leadership position in the Connected Worker space.”
In addition to the funding news, Augmentir has also announced organizational growth, including two new additions to the Company’s leadership team. Kiyomi Otani joins the team as Vice President of Operations bringing with her two decades of experience in technology leadership. Carsten Hunfeld, who previously led Augmentir’s sales efforts in the DACH region, will become the Company’s Director for EMEA, as the Company ramps up its efforts in that region. Augmentir experienced an employee growth rate of over 50% in the last twelve months to advance its mission of empowering frontline workers with next-generation software solutions.
Augmentir’s suite of AI-powered connected worker tools helps industrial companies deliver effective, individualized skills management, training, digital workflows, and collaboration for today’s more dynamic industrial workforce. These capabilities, built on top of Augmentir’s patented “Smart” AI foundation, close the loop between training and work execution to deliver the data and in-line insights necessary to continuously improve operational excellence day-over-day, year-over-year.
About Augmentir
Augmentir™ is the world’s only Smart Connected Worker solution. Augmentir’s software includes a complete suite of connected worker capabilities, connectors to business systems, and broad extensibility that enable manufacturers to digitize their frontline operations, reduce onboarding time, and increase workforce productivity. Companies in manufacturing, service, energy, and construction leverage Augmentir’s suite of tools to deliver effective skills management, training, digital workflow, and collaboration for today’s more dynamic industrial workforce. For more information, please visit www.augmentir.com.
LOS ANGELES, April 18, 2023 — Nativo, the most advanced content technology platform where advertisers and publishers distribute brand stories at scale, today announced it has secured a total of up to $25MM of structured capital from Capital IP. The funding will further accelerate Nativo’s position in automating the distribution of content in a non-interruptive, fully integrated experience within trusted environments.
As third-party cookies begin to disappear and the advertising industry continues to shift, brands are more focused on consideration where content plays a key role. With Nativo’s patented technology and insights platform—which has seen incredible market response—Nativo is uniquely positioned to connect brands with their ideal audience to drive consideration. This latest round of funding indicates the next phase of growth for Nativo to expand upon their technology, differentiated ad formats and insights platform.
“We are very pleased to have secured this financing from Capital IP, which allows us to accelerate Nativo’s growth and development without diluting our employees and shareholders,” said Rob Leff, Chief Financial Officer at Nativo. “Recent industry trends are favoring Nativo’s value proposition and with this funding we will continue to make investments in our technology and talent to ensure Nativo remains a leader in driving consideration through content.”
“Nativo has built impressive technology that incorporates machine learning and artificial intelligence to help automate and improve the performance of branded content and its distribution. We are thrilled to partner with the company going forward as they focus on driving towards a Rule of 40 and continue to accelerate their leadership position,” said Aron Dantzig, Partner at Capital IP.
About Nativo
At Nativo, we create new possibilities for digital advertising. We enable brands and publishers to harness the power of content to bridge the gap between awareness and action, making genuine connections between advertisers and their audiences. Our patented technology leverages machine learning and artificial intelligence to automate the distribution of content in a non-interruptive, fully integrated experience within trusted environments, and delivers deep insight into content performance – all working together to drive better connections with today’s digital consumer. Our mission at Nativo is to bridge the gap between awareness and action through content – not more ads, and ignite the power of connections.
Founded by Justin Choi in 2010, Nativo is an Asian American-owned technology company certified by NMSDC as a Minority Business Enterprise holding more than a dozen patents, working with more than 3,500 premium publisher websites around the globe. Learn more www.nativo.com.
About Capital IP Investment Partners:
Capital IP Investment Partners (“Capital IP” or “CapIP”) is a minority co-founded specialty credit firm focused exclusively on investments in technology and technology-enabled businesses. Our collaborative approach to investing, combined with our technology-industry expertise, allows Capital IP to assess the intrinsic value of growing technology businesses and to offer a range of novel, creative financing solutions. The Capital IP team has a long, proven history of providing flexible structured credit to companies in the technology sector, and continues to lead the industry in financial innovation. The principals of CapIP have historically invested over $1.3 billion in innovative, emerging companies. For more information on Capital IP Investment Partners, please visit: www.capitalip.com.
