Innovation

Oxla: Distributed Analytical Database Company Closes $11 Million (Seed)

By Amit Chowdhry ● Nov 3, 2024

Oxla - a high-performance distributed analytical database designed from the ground up for large-scale data processing - announced it raised $11 million in seed funding. And Oxla reinforced its status as a global company by completing its transition from a Polish domicile to US legal incorporation in Delaware, a strategic move aimed at strengthening its international presence and facilitating further growth.

Aignostics: $34 Million (Series B) Raised To Turn Complex Pathology Data Into Transformative Insights

By Amit Chowdhry ● Nov 3, 2024

Aignostics - a global AI company that turns complex multi-modal pathology data into transformative insights - announced that it has raised $34 million in Series B financing. This additional funding will be used for building new product offerings for biopharmaceutical clients, driving growth within the US and developing leading foundation models for pathology in collaboration with the Mayo Clinic. This oversubscribed funding round was led by ATHOS, with investments from Mayo Clinic and growth financing from HTGF, along with support from existing investors Wellington Partners, Boehringer Ingelheim Venture Fund, CARMA Fund, and VC Fonds Technologie managed by IBB Ventures.

Sierra: Conversational AI Company Raises $175 Million At $4.5 Billion Valuation

By Amit Chowdhry ● Nov 3, 2024

Sierra, a conversational AI company founded by former Salesforce co-CEO Bret Taylor, announced it raised $175 million in funding led by Greenoaks Capital. ICONIQ and Thrive Capital contributed to this new funding round. This funding round valued Sierra at $4.5 billion, more than quadrupling its $1 billion valuation in January.

NEPC: Hightower Acquires Majority Investment

By Amit Chowdhry ● Nov 3, 2024

Hightower announced it will acquire a majority interest in NEPC, a leading investment consultant and outsourced chief investment officer (OCIO). Combining under a common parent company will enable each organization - NEPC and Hightower Advisors (one of the country’s leading RIAs) - to expand their commitments to clients to deliver institutional-quality investment solutions and research-driven advice.

Detectify: Majority Stake Acquired By Insight Partners

By Amit Chowdhry ● Nov 3, 2024

Detectify - an Attack Surface Management platform for AppSec teams powered by elite ethical hackers - announced that global software investor Insight Partners has acquired a majority stake in the company. The deal involved securing funding to accelerate product innovation and drive profitable growth.

Primergy: $350 Million Closed For Ash Creek Solar Project

By Amit Chowdhry ● Nov 2, 2024

Primergy Solar - a leading developer, owner, and operator of utility-scale solar and energy storage projects - announced it closed commitments for $350 million in tax equity financing for the 408 MWac Ash Creek Solar project in Hill County, Texas.

JPalmer Collective: Asset-Based Lending Company Raises $72 Million

By Amit Chowdhry ● Nov 2, 2024

JPalmer Collective (JPC), an asset-based lending company committed to funding high-growth women-led and natural products companies, announced a series of deals raising $72 million in gross proceeds. And the capital consists of a strategic combination of financing, including a senior revolving credit facility provided by Texas Capital Bank, a mezzanine credit facility from a New York-based institutional alternative asset manager, and a common equity infusion.

Pip Care: Surgical Optimization Company Raises $5 Million (Series A)

By Amit Chowdhry ● Nov 2, 2024

Pip Care, a company that optimizes the surgical journey for care teams and patients, announced a Series A raise of $5 million in equity funding. The funding round was led by A1 Health Ventures, with participation from existing investor UPMC Enterprises.

Acuity Buying QSC In $1.215 Billion Deal

By Amit Chowdhry ● Nov 2, 2024

Market-leading industrial technology company Acuity Brands announced it has reached a definitive agreement to acquire QSC for a purchase price of $1.215 billion - or $1.1 billion net of approximately $100 million in the present value of expected tax benefits. This net purchase price represents approximately 14 times QSC’s estimated EBITDA for the last twelve months ending August 31, 2024. It is expected to be accretive to Acuity’s’ fiscal 2025 full-year adjusted diluted earnings per share.

HEN Nozzles: $8 Million (Seed) Raised To Transform Fire Suppression Technology

By Amit Chowdhry ● Nov 2, 2024

HEN Nozzles, a leader in firefighting innovation, announced it secured $8 million in seed funding to accelerate its fluidics technology. This seed round has been supported by several venture capital and strategic angel investors, including O'Neil Capital Partners, Cthulhu Ventures, Z21 Ventures, TiE Silicon Valley Angels, Sacramento Angels, and Shasta Angels.

B. Riley: $236 Million Brand Asset Deal Completed

By Amit Chowdhry ● Nov 2, 2024

B. Riley Financial announced it and its subsidiary bebe stores have completed a deal for their brand assets yielding approximately $236 million in cash proceeds to B. Riley.

Parsons Acquiring BCC Engineering For $230 Million

By Amit Chowdhry ● Nov 2, 2024

Parsons will acquire BCC Engineering (a Florida-based transportation engineering firm) for $230 million in cash. BCC (owned by Trivest Partners) offers planning, design, and management services for projects in Florida, Georgia, Texas, South Carolina, and Puerto Rico. This deal boosts Parsons’ infrastructure presence in the Southeastern U.S. and aligns with its strategy of buying high-growth companies with over 10% revenue growth and strong EBITDA margins.

King Energy: $10 Million Raised For Scaling Solar Solutions

By Amit Chowdhry ● Nov 2, 2024

King Energy, a provider of solar energy solutions for multi-tenant commercial properties, announced the closing of a $10 million funding round led by ArcTern Ventures, with $7 million and an additional $3 million from existing investors Blackhorn Ventures, Active Impact Investments, and Next Frontier Capital. This underscores the continued confidence in King Energy's mission and market leadership.

Bifrost AI: Generative 3D Data Platform Company Raises $8 Million (Series A)

By Amit Chowdhry ● Nov 2, 2024

Generative 3D data platform Bifrost AI announced it has raised $8 million in Series A funding. Carbide Ventures led this round, which also included Airbus Ventures, Peak XV's Surge (formerly Sequoia Capital India & SEA), Wavemaker Partners, MD One, and Techstars.

Delos Insurance Solutions: Wildfire Science And Satellite Imagery Company Raises $9 Million (Series A)

By Amit Chowdhry ● Nov 2, 2024

Delos Insurance Solutions—a company that uses wildfire science and satellite imagery expertise to solve homeowners' wildfire insurance availability issues—announced it has raised $9 million in Series A funding. The funding round was led by HSBC Asset Management and included IA Capital Group, Blue Bear Capital, Generation Space, and several angel investors.

Shift Bioscience: $16 Million (Seed) Raised To Use GenAI For Reversing Aging Processes

By Amit Chowdhry ● Nov 2, 2024

Shift Bioscience—a biotech company using generative AI models to understand how activation of different genes can reverse the aging process—announced it raised $16 million in seed funding. This round was led by BGF, with existing investors F-Prime Capital, Kindred Capital, and Jonathan Milner participating.

Vision RNG: $207 Million In Project Financing Raised

By Amit Chowdhry ● Nov 2, 2024

Vision RNG (VRNG) - a leader in renewable natural gas (RNG) production - announced it has closed on an aggregate of $207 million in project financing with HASI, a leading investor in climate solutions. This funding will be essential in accelerating Vision RNG’s growth strategy, which will advance sustainable energy solutions and reduce carbon emissions.

Tako: AI-Based Search Company Raises $5.75 Million Seed

By Amit Chowdhry ● Nov 2, 2024

Tako, an AI-based search engine for visualizing and sharing the world's knowledge, announced it raised $5.75 million in a seed funding round led by Kevin Hartz at A* and Ramtin Naimi at Abstract Ventures with participation from Stanley Druckenmiller / Kevin Warsh, Gokul Rajaram, Naval Ravikant, Stan Chudnovsky, Guillermo Rauch (Vercel), Scott Belsky (Adobe), GC Lionetti (OpenAI), George Sivulka (Hebbia), Aravind Srinivas (Perplexity), Johnny Ho (Perplexity), Kanjun Qiu (Outset Ventures), Joe Montana (Liquid2 Ventures), Chase Coleman, Diogo Monica (Haun Ventures), Nathan McCauley (Anchorage Digital), Paul Yacoubian (Copy.ai) and others.

Cymbiotika: Wellness Brand Raises $30 Million In Debt Financing

By Amit Chowdhry ● Nov 2, 2024

Cymbiotika, a leading wellness and supplement brand committed to transforming health through innovative, science-backed formulations, has completed a $30 million debt financing round. The funding was led by RevTek Capital.

LINGO: Education Tech Company Raises $2.25 Million (Seed)

By Amit Chowdhry ● Nov 1, 2024

Pinnacle Private Ventures (an influential family office-owned private investment firm led by Sean McCurry) announced it led an investment of $2.25 million in LINGO, a leading edtech company founded by former NASA rocket scientist, serial entrepreneur, and future Blue Origin astronaut Aisha Bowe that is transforming STEM learning through its innovative curriculum. This funding round highlights a decisive shift in the venture capital landscape—redefining how women and minority founders can access the resources needed to drive meaningful societal change.

OpenOrigins: $4.5 Million (Seed) Secured To Protect Authenticity Through Provenance-Focused Blockchain

By Amit Chowdhry ● Nov 1, 2024

OpenOrigins, a company founded to protect content authenticity through its provenance-focused blockchain, has expanded globally with a $4.5 million seed investment led by Galaxy Interactive with participation from Galaxy Ventures and existing investor Unbound (a global investment firm led by Shravin Bharti Mittal).

Backflip: Real Estate Fintech Company Raise $184 Million

By Amit Chowdhry ● Nov 1, 2024

Backflip, an all-in-one fintech platform for real estate entrepreneurs, announced that it has raised two private credit funds totaling $30 million of equity along with $154 million of asset-backed financing. This equates to $184 million in capital to fund residential transition loans (also known as RTL).

RRA Capital: Phoenix-Based Real Estate Bridge Lender Closes $27 Million Loan

By Amit Chowdhry ● Nov 1, 2024

RRA Capital, a Phoenix-based commercial real estate bridge lender and investment firm, announced closing a $27 million loan to acquire a four-property multifamily portfolio in North Carolina. This latest deal, executed in partnership with Emerald City Associates (ECA), marks a significant milestone in their collaboration, with the parties having now closed $62 million across seven loans in the past five months.

Interview With CGS Founder & CEO Phil Friedman: Building A Sustainable Global Technology Business

By Amit Chowdhry ● Nov 1, 2024

Computer Generated Solutions (CGS) has enabled global enterprises, regional companies, and government agencies to drive breakthrough performance through business applications, enterprise learning, and outsourcing services for 40+ years. Pulse 2.0 interviewed CGS founder and CEO Phil Friedman to learn more about the company.

Zinnia: $300 Million Strategic Funding Raised From Vista Credit Partners

By Amit Chowdhry ● Nov 1, 2024

Zinnia, a leading life and annuity (L&A) insurance technology company, announced $300 million in financing from Vista Credit Partners, a subsidiary of Vista Equity Partners and a strategic credit and financing partner focused on the enterprise software, data, and technology markets. The new financing will accelerate Zinnia’s go-to-market strategy.

Herald: Commercial Insurance Digital Infrastructure Secures $12 Million (Series A)

By Amit Chowdhry ● Nov 1, 2024

Herald, a leading digital infrastructure provider for commercial insurance, announced a $12 million Series A funding round co-led by Lightspeed Venture Partners and Brewer Lane Ventures with participation from Afore Capital and Underscore Venture Capital.

DeNexus: Cyber Risk Management Company Raises $17.5 Million (Series A)

By Amit Chowdhry ● Nov 1, 2024

DeNexus - a leader in end-to-end cyber risk management for operational technology (OT) - announced it has raised $17.5 million in a Series A funding round, positioning DeNexus to accelerate its growth and expand its innovative product offerings and markets.

Bright Uro: LUTS-Focused Medical Device Company Closes $32 Million (Series A)

By Amit Chowdhry ● Oct 31, 2024

Bright Uro, a medical device company to transform care for lower urinary tract symptoms (LUTS) through innovations in urodynamics, announced today the second closing of its Series A funding round, which was oversubscribed by nearly 40% above and secured a total of $32 million for the company.

MOTORMIA: Automotive Platform Company Raises $8 Million

By Amit Chowdhry ● Oct 31, 2024

MOTORMIA (a new automotive enthusiast platform aimed at transforming the automotive aftermarket industry through AI) has raised funding from multiple venture capital firms. And Mia, the platform's revolutionary AI virtual assistant, can tailor users' experiences to various levels of knowledge, generate AI vehicle renderings, make performance upgrade suggestions, and help users understand the best choices for specific build goals.

Birch Creek: $150 Million Credit Facility Closed With KKR

By Amit Chowdhry ● Oct 31, 2024

Birch Creek Energy (a utility scale solar and storage developer and independent power producer) and investment firm KKR announced today that Birch Creek has closed on a $150 million credit facility within KKR's High-Grade Asset-Based Finance (ABF) strategy via insurance accounts managed by KKR.