Archives

Nium: Cross-Border Payments Company Raises $50 Million At $1.4 Billion Valuation

By Amit Chowdhry ● Jun 15, 2024

Nium, a global leader in real-time cross-border payments, announced it has raised $50 million in a Series E funding round. A Southeast Asia-based sovereign wealth fund led this funding round and values the company at $1.4 billion post-money. The sovereign wealth fund joins other newly added investors from Nium's previous funding round, including BOND, NewView Capital, and Tribe Capital.

Testsigma: AI-Based Low-Code Test Automation Company Raises $8.2 Million

By Amit Chowdhry ● Jun 15, 2024

AI-powered and low-code test automation platform Testsigma announced that it has raised $8.2 million in funding led by MassMutual Ventures. Previous investors Accel, STRIVE, and BoldCap also participated in the round.

Intuit To Buy Technology From Zendrive

By Amit Chowdhry ● Jun 15, 2024

Intuit, a global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, announced it signed an agreement to acquire technology from leading mobility risk intelligence provider Zendrive.

SiTration: Materials Recovery Company Secures $11.8 Million

By Amit Chowdhry ● Jun 15, 2024

SiTration, a materials recovery company that is serving the mining and metals industries, announced it has raised $11.8 million in seed capital. This funding round was led by 2150 with participation from BHP Ventures, Extantia, and Orion Industrial Ventures. And previous investors Azolla Ventures and MIT-affiliated E14 Fund also participated in the oversubscribed round.

HyperSpectral: AI-Based Spectral Intelligence Company Closes $8.5 Million In Funding

By Amit Chowdhry ● Jun 15, 2024

HyperSpectral, an AI-based spectral intelligence company with hardware-agnostic solutions for particle detection, emerged from stealth with $8.5 million in a Series A funding round. And HyperSpectral's Series A funding round was co-led by RRE Ventures and Kibo Ventures with participation from Correlation Ventures and GC&H Investments.

Understory: Insurance Platform Protecting Climate-Vulnerable Industries Raises $15 Million

By Amit Chowdhry ● Jun 15, 2024

Understory, an insurance platform protecting climate-vulnerable industries from severe weather risks, announced the closing of a significantly oversubscribed Series A funding round at $15 million to drive its expansion into the renewable energy sector. This funding round, which was co-led by True Ventures and Prelude Ventures, emphasizes investors' strong belief in Understory's vision and expansion potential.

InTandem Capital Partners: Fund III Closed At $715 Million

By Amit Chowdhry ● Jun 15, 2024

InTandem Capital Partners, a middle-market private equity firm focused exclusively on healthcare services, announced the final closing of InTandem Capital Partners Fund III, LP, with $715 million in total capital commitments. And Fund III closed above its original target of $650 million.

Eko Health: $41 Million Closed To Scale AI-Based Heart And Lung Disease Detection Technology

By Amit Chowdhry ● Jun 15, 2024

Eko Health, a company that is applying artificial intelligence for early detection of heart and lung diseases, announced it has raised $41 million in Series D financing. With participation from ARTIS Ventures, Highland Capital Partners, NTTVC, and Questa Capital, this funding round will be used to expand U.S. and global access to the company's early disease detection platform.

Thoughtly: AI Voice Agent Company Raises $3 Million

By Amit Chowdhry ● Jun 15, 2024

Thoughtly, a startup building AI voice agents for contact centers, announced it has secured a $3 million funding round with participation from Afore Capital, Greycroft, Expansion, and others. And through an innovative approach to customer phone calls, Thoughtly is prepared to disrupt the CCaaS (Contact Center as a Service) space and transform how businesses approach customer service interactions.

IDC Network And Arena Investors Launch Flexible Capital Arm

By Amit Chowdhry ● Jun 15, 2024

IDC Network (a diversified private equity and venture capital asset manager and parent company of IDC Ventures, a global venture capital firm specializing in fintech and marketplaces) announced the launch of its newly created credit and flexible capital arm IDC Arena Credit Ventures through the formation of a strategic partnership with Arena Investors, LP. And Arena Investors is a global institutional investment manager with a solid track record of providing creative capital solutions to underserved borrowers globally.

Caju AI: Customer Engagement Company Raises $3 Million

By Amit Chowdhry ● Jun 15, 2024

Caju AI, a Gen AI-based solution for customer engagement, announced the successful closing of a $3 million seed funding round. This strategic investment is backed by Grotech Ventures, Felton Group (the family office of Charlottesville, VA-based hedge fund manager Jaffray Woodriff), and angel investors. This funding round propels Caju AI into a new phase of growth and innovation, reinforcing its position as a leader in AI-driven customer engagement and compliance solutions.

Addus HomeCare Buying Gentiva’s Personal Care Operations For $350 Million

By Amit Chowdhry ● Jun 15, 2024

Addus HomeCare, a provider of home care services, announced a definitive agreement to acquire Gentiva's personal care operations for an anticipated purchase price of approximately $350 million after customary purchase price adjustments.

Advanced Medicine Partners: $32 Million Financing Agreement Executed

By Amit Chowdhry ● Jun 15, 2024

Advanced Medicine Partners, an organization that delivers process development, manufacturing, analytical development, and testing for advanced therapy products specializing in viral vectors for gene and cell therapies, announced a new financing agreement led by Deerfield Management, with additional support from ARCH Venture Partners and other investors. And upon the completion of this latest financing round, the total direct investment in Advanced Medicine Partners since its separation from Jaguar Gene Therapy will total up to $60 million.

Tether: $18.75 Million Raised From Blockchain-Enabled Firm XREX Group

By Amit Chowdhry ● Jun 15, 2024

Tether, one of the largest companies in the digital asset industry, announced a strategic investment of $18.75 million in XREX Group, a fully regulated and blockchain-enabled financial institution. This collaboration aims to drive transformation in the digital asset industry, facilitate USDT-based cross-border payments in emerging markets, and innovate regulatory technology.

MidOcean: $765 Million Closed For Tactical Credit Strategy

By Amit Chowdhry ● Jun 15, 2024

MidOcean Partners, a New York-based alternative asset manager specializing in middle-market private equity, structured capital, and alternative credit investments, announced the closing of its third opportunistic credit fund, MidOcean Tactical Credit Fund III and related separately managed accounts, with commitments totaling $765 million.

LawPro.ai: Strategic Investment Raised To Transform The Legal Industry

By Amit Chowdhry ● Jun 15, 2024

LawPro.ai, a company that utilizes AI-driven solutions for the legal industry, announced the successful completion of a seed investment round. This funding will accelerate LawPro.ai's mission to transform the legal industry by utilizing AI technology to enhance efficiency, accuracy, and accessibility in law firms' ability to review medical records.

Alteri Wealth Launches In California By Over $1 Billion Team

By Amit Chowdhry ● Jun 15, 2024

Alteri Wealth co-founders Michelle Gruber and Alex Markowitz announced the official launch of their firm, which is an SEC-registered investment Advisory and wealth management team based in Westlake Village, California. Before founding the new firm, the two principals, along with Senior Vice President Matthew Mullaly, collectively worked at Merrill Lynch Wealth Management, where they oversaw over $1 billion in client assets.

U Of M’s Institute For Social Research Receives $195 Million In Federal Funding

By Amit Chowdhry ● Jun 14, 2024

With around $195 million in new federal funding (the largest research grant in University of Michigan history), the Institute for Social Research will extend its long-running and influential Health and Retirement Study through 2029. This funding comes in the form of a grant from the National Institute on Aging (part of the National Institutes of Health), including co-funding from the Social Security Administration.

Hudson Acquiring USA Refrigerants In $20.7 Million Deal

By Amit Chowdhry ● Jun 14, 2024

Hudson Technologies announced the acquisition of substantially all of the assets of USA United Suppliers of America (d/b/a USA Refrigerants) for $20.7 million, subject to customary post-closing adjustments, and up to an additional $2 million in potential earnout payments. USA is a national refrigerant distributor and it has been a leading purchaser of recovered refrigerants for over 25 years.

Sixfold: $15 Million Secured To Empower Underwriters With End-To-End Risk Analysis

By Amit Chowdhry ● Jun 14, 2024

Sixfold, a company empowering underwriters with a generative AI solution for end-to-end risk analysis, announced it has raised $15 millionin Series A funding. This funding round was led by Salesforce Ventures, with participation from Scale Venture Partners and all previous investors including Bessemer Venture Partners and Crystal Venture Partners. The funds will be used to continue building out its exceptional team of AI/ML engineers, further enhancing product capabilities and accelerating R&D efforts. This round will also help Sixfold expand beyond North American markets to the UK and the European Union.

Nuveen: William Huffman Named As CEO

By Amit Chowdhry ● Jun 14, 2024

Nuveen (the investment manager of TIAA) - with $1.2 trillion in assets under management - announced the appointment of William Huffman as Chief Executive Officer. MrHuffman will chair the Nuveen Executive Leadership Team and serve as a member of TIAA's Executive Committee. Huffman succeeds Jose Minaya.

Beacon Pointe Expanding Into PNW By Acquiring $775 Million Joslin Capital Team

By Amit Chowdhry ● Jun 14, 2024

Beacon Pointe Advisors announced a recent partnership with Joslin Capital Advisors. Based in Redmond, Washington, Joslin Capital is Beacon Pointe’s second RIA acquisition this year and brings about $775 million in client assets under advisement to Beacon Pointe.

Wealth Enhancement Group Adds $658 Million Gavin Financial Team

By Amit Chowdhry ● Jun 14, 2024

Wealth Enhancement Group, a national independent wealth management firm with $82.1+ billion in client assets, announced that it joined forces with Gavin Financial Group in Midland, Michigan. This team of five manages over $658 million in client assets and is led by Owner and Financial Advisor, Michael Gavin, CFP.

YourSix: Cloud Physical Security Solutions Company Raises $10.5 Million

By Amit Chowdhry ● Jun 14, 2024

YourSix, a cloud physical security solutions leader, announced that it has raised $10.5 million in Series A funding, led by Vocap Partners and joined by Eastside Partners. This funding round will accelerate growth, increase market presence, and advance its vision of transforming the delivery of commercial physical security solutions.

Raymond James Adds $500+ Million Alaska-Based Advisor Team

By Amit Chowdhry ● Jun 14, 2024

Michael O'Meara, Midwest regional director for the firm's employee advisor channel Raymond James & Associates (RJA) welcomed financial advisors Keith Green, CFP, CIMA, and Jon Coon, CPFATM, MBA, in Anchorage, Alaska.

LPL Financial Brings In $265 Million Generational Asset Planning And Cousino Teams

By Amit Chowdhry ● Jun 14, 2024

LPL Financial announced it added a couple of teams that both reported serving $265 million in advisory, brokerage and retirement plan assets each.

Focus Financial Partners: 4 Key Executive Appointments Revealed

By Amit Chowdhry ● Jun 14, 2024

Focus Financial Partners, a partnership of fiduciary wealth management and related financial services firms, revealed four key executive appointments that build on the firm’s commitment to operational excellence, unlocking strategic growth opportunities, and delivering innovative solutions.

Pipe: $100 Million Credit Facility Closed From Victory Park Capital

By Amit Chowdhry ● Jun 14, 2024

Pipe, a modern capital platform for fast and frictionless, dilution-free funding, announced the closing of a $100 million credit facility from Victory Park Capital (VPC), an alternative investment firm that specializes in private credit.

ControlUp: Empowering IT To Elevate Digital Employee Experiences

By Amit Chowdhry ● Jun 14, 2024

ControlUp reimagines Digital Employee Experience (DEX) management with true real-time visibility, enabling 20x faster issue resolution on any desktop, any application, anywhere. Pulse 2.0 spoke with the company’s new CEO, Jed Ayres, to learn about its groundbreaking capabilities.

VergeSense: Helping Companies Unlock Spaces And Increase ROI With Occupancy Intelligence To Drive Every Decision

By Amit Chowdhry ● Jun 14, 2024

VergeSense helps companies unlock the potential of their spaces to foster connection, inspiration, and sustainability. Pulse 2.0 interviewed VergeSense VP of Product Kanav Dhir to learn more about the company.