Archives

Indico Data: $19 Million Closed To Automate Intake Workflows Across Policy Lifecycles

By Amit Chowdhry ● Jun 16, 2024

Indico Data, a leading solution for the automating of critical intake workflows across the policy lifecycle, announced the closing of a $19 million funding round with a strategic investment from Guidewire, a platform for Property and Casualty (P&C) insurers. This funding and partnership with Guidewire will drive Indico Data's goal of delivering AI technology to enable enterprises to make better decisions with better data, driving improved operational efficiencies and top-line revenue growth.

Clearhaven Partners Buys Software-Defined Video Platform Zixi

By Amit Chowdhry ● Jun 16, 2024

Zixi, a provider of Software-Defined Video Platforms (SDVP) and the industry leader for enabling reliable, scalable, and cost-efficient live video transport over Internet protocol networks, announced that private equity firm Clearhaven Partners, along with Zixi's executive team, has completed a significant investment in the company to drive it to the next stages of growth.

Greater Sum Ventures Acquires Law Enforcement Platform Company Kologik

By Amit Chowdhry ● Jun 16, 2024

Entrepreneurial family office and growth equity firm Greater Sum Ventures (GSV) announced the acquisition of Kologik, a leader in responsive, scalable, and user-friendly software for law enforcement agencies.

J.P. Morgan Private Capital: Inaugural Biotechnology Fund Closed At Over $500 Million

By Amit Chowdhry ● Jun 16, 2024

J.P. Morgan Private Capital (a venture capital and growth equity investment team within J.P. Morgan Asset Management) announced the final closing of the first Life Sciences Private Capital offering, 270 Life Sciences Private Capital Fund I, led by Chief Investment Officer Stephen Squinto, Ph.D. and Managing Partner Gaurav Gupta, M.D., M.S.E.

Rising Team Raises $8 Million To Advance Employee Engagement Platform

By Amit Chowdhry ● Jun 15, 2024

Rising Team, an industry-leading team performance platform, announced the completion of its Series A funding of $8 million. This funding round was led by Zeal Capital Partners alongside previous investors including Peterson Ventures, Roble Ventures, Female Founders Fund, Burst Capital, and Supernode Ventures. This funding round enables Rising Team to enhance its team performance platform with AI, hire new team members, and expand its market presence.

Wealthspire Advisors: Michael Santo Named As Managing Director And Advisor

By Amit Chowdhry ● Jun 15, 2024

Wealthspire Advisors (an NFP company and independent investment adviser) announced the addition of industry veteran and portfolio manager Michael J. Santo to the team. Santo, who oversaw portfolios for public company executives, business owners, philanthropic organizations, and multigenerational households in prior roles, joins the firm in both its New York and South Florida markets and brings decades of experience serving high net worth clients.

Aquiline: Over $3.4 Billion Of Capital Closed For Fifth PE Fund

By Amit Chowdhry ● Jun 15, 2024

Aquiline Capital Partners LP, a private investment firm dedicated to financial services and related technologies, announced that it has raised over $3.4 billion of fund capital, following the final close of its fifth private equity fund, Aquiline Financial Services Fund V L.P. (AFS V), and the closing of its continuation fund, Aquiline Financial Services Continuation Fund L.P.

iCOMAT: Advanced Composite Manufacturing Company Raises $22.5 Million

By Amit Chowdhry ● Jun 15, 2024

iCOMAT, an innovator in the advanced composite manufacturing space, announced the successful closing of its Series A funding round at $22.5 million. This funding round was led by 8VC, and co-led by NATO Innovation Fund. Other investors joining the round include Syensqo Ventures and existing investors Velocity Partners VC.

Sequoia Financial Group: Chris Thom Named As Chief Strategy And Partnerships Officer

By Amit Chowdhry ● Jun 15, 2024

Akron, Ohio-based Sequoia Financial Group, a leading SEC-registered wealth manager with over $18 billion in assets under management as of March 31, 2024, has hired Chris Thom, CFP, as chief strategy and partnerships officer. And Thom is a member of the executive committee while reporting to Tom Haught, CEO and founder of Sequoia Financial Group.

Liminal: Gen AI Data Security Company Raises $5 Million In Additional Seed Funding

By Amit Chowdhry ● Jun 15, 2024

Liminal, a generative AI data security leader, announced that it has raised more than $5 million in an oversubscribed seed round led by Fin Capital. Participation came from High Alpha, Matchstick Ventures, Craft Ventures Scout Fund, and veteran regulated industry executives. This new funding expands Liminal's ability to quickly enable customers to deploy and use generative AI (Gen AI).

Zeta Labs: AI Research And Product Lab Secures $2.9 Million

By Amit Chowdhry ● Jun 15, 2024

Zeta Labs, an AI research and product company that is developing autonomous agents capable of efficiently performing complex and multi-step tasks, announced the raising of its $2.9 million pre-seed round and the debut of its large language model (LLM)-based proprietary autonomous AI agent JACE. This funding round was led by Daniel Gross (former head of AI at Y Combinator) and Nat Friedman (former Github CEO), with participation from Earlybird VC and Kaya VC and AI Grant, Shawn (swyx) Wang, Bartek Pucekand Mati Staniszewski, founder of ElevenLabs.

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.