Venture Capital

Expansion Capital Group: $100 Million Credit Facility Secured For Accelerating Growth

By Amit Chowdhry ● Jan 10, 2025

Expansion Capital Group (ECG), a provider of working capital solutions for small businesses, announced the closing of a $100 million credit facility. And this achievement reinforces ECG’s dedication to empowering small businesses nationwide by delivering fast and dependable access to capital.

FTV: $4.05 Billion In Capital Commitments Raised

By Amit Chowdhry ● Jan 10, 2025

Growth equity investment firm FTV Capital announced the completion of its latest growth equity fundraising with $4.05 billion in capital commitments. And spanning two complementary funds – its eighth flagship fund (FTV VIII) and a new vehicle dedicated to smaller investments FTV Ascend I, the new funding enables FTV to expand its approach to supporting high-growth companies with equity checks ranging from $20 million to $300 million while maintaining a concentrated portfolio of investments in its funds.

Qualified Health: $30 Million (Seed) Raised For Developing GenAI Infrastructure In Healthcare

By Amit Chowdhry ● Jan 10, 2025

Qualified Health announced its launch with $30 million in seed funding to develop the infrastructure for generative AI in healthcare. The major investors are SignalFire, Healthier Capital, Town Hall Ventures, and Frist Cressey Ventures, with participation from Intermountain Ventures, Flare Capital Partners, and prominent healthcare and technology sector angels.

Flint Capital: Interview With Partner Andrew Gershfeld About The Early-Stage Investment Firm

By Amit Chowdhry ● Jan 10, 2025

Flint Capital is an early-stage venture capital fund that has invested in companies like Flo Health, Bluebricks, Sensi.AI, BlinqIO, Oneday, WalkMe, and Lending Club. Pulse 2.0 interviewed Flint Capital partner Andrew Gershfeld to learn more about the firm.

XOCEAN: Ocean Data Provider Company Raises €115 Million

By Amit Chowdhry ● Jan 10, 2025

XOCEAN, an ocean data provider to the offshore energy and civil hydrography sectors, announced it closed a €115 million fundraise that will help support its ongoing growth across the company's expanding global footprint. The company partnered with S2G Ventures (S2G) to structure the round, which was funded by S2G, Climate Investment (CI), Morgan Stanley's 1GT fund, and an affiliate of the Crown Family's CC Industries (CCI) - collectively known as the investor consortium.

Rena Labs: Autonomous And Verifiable AI Solutions Company Raises $3.3 Million

By Amit Chowdhry ● Jan 10, 2025

Rena Labs, a company aiming to enable the next generation of autonomous and verifiable AI solutions, announced closing a $3.3 million pre-seed funding round led by Paper Ventures. And the company attracted investment from several venture capital firms, including Lightspeed Faction, Eterna Capital, Lyrik Ventures, Mapleblock Capital, Selini Capital, Keyrock, and others.

Grove: $4.9 Million (Seed) Raised For Transforming Clinical Trials

By Amit Chowdhry ● Jan 9, 2025

Grove AI, a next-generation clinical trial management and intelligence company, announced a $4.9 million seed fundraise led by A*, with participation from Afore Capital, LifeX Ventures, Pear VC, Upfront Ventures, and industry-leading angels. The company’s additional investors include angel backers with deep sector expertise, such as Ajit Baid (former Head of Global Asset at UCB), Chloe Yoo (Director at ICON), Phuc Truong (co-founder of CRIO), Till Pieper (former Google Cloud AI lead), and others.

Cemex Raises Funding To Deploy Lower-Emission Vehicles

By Amit Chowdhry ● Jan 9, 2025

Cemex announced its participation in multiple government-sponsored sustainability initiatives and secured funding from state and federal programs to deploy several lower-emission vehicles across its U.S. footprint. This investment is crucial in the company's ongoing efforts to decarbonize its operations.

Ault & Company Acquiring Increased Majority Stake In Hyperscale Data

By Amit Chowdhry ● Jan 9, 2025

Ault & Company announced that it had increased its controlling stake in Hyperscale Data, a diversified holding company transitioning to becoming solely an owner and operator of data centers to support high-performance computing services.

Micron Biomedical: $43 Million In Total Grant Support Raised To Improve Coverage Of Measles And Rubella Vaccine

By Amit Chowdhry ● Jan 9, 2025

Micron Biomedical, a life science company developing the world’s first needle-free technology for drugs and vaccines based on dissolvable microarrays, announced the company secured a $7.5 million grant from the Bill & Melinda Gates Foundation that brings total grant funding from the organization to $43 million.

Innovaccer: Healthcare AI Company Raises $275 Million (Series F)

By Amit Chowdhry ● Jan 9, 2025

Innovaccer - a leading healthcare AI company - announced a $275 million Series F funding round. This round was a combination of primary and secondary and included participation from B Capital Group, Banner Health, Danaher Ventures LLC, Generation Investment Management, Kaiser Permanente, and M12.

Hippocratic AI: Healthcare LLM Company Raises $114 Million (Series B) At $1.64 Billion Valuation

By Amit Chowdhry ● Jan 9, 2025

Hippocratic AI (see Pulse 2.0 profile here), the company that pioneered the first healthcare LLM for patient-facing non-diagnostic clinical tasks, announced that the company completed its series B financing round only nine months after its series A. The series B raised $141 million, valuing the company at $1.64 billion. The funding round was led by Kleiner Perkins. They were joined by existing investors: A16z, General Catalyst, Premji, NVIDIA, SV Angel, Universal Health Services (UHS), and WellSpan Health, which all participated at or above pro-rata.

Evergreen Nephrology: Kidney Care Company Raises $130 Million

By Amit Chowdhry ● Jan 9, 2025

Evergreen Nephrology, a leader in value-based kidney care, announced it has raised $130 million in capital to expand its care model to more patients living with kidney disease. This funding was led by Rubicon Founders, Oak HC/FT and a group of existing investors, with the addition of K2 HealthVentures.

DDN: AI And Data Intelligence Solutions Company Raises $300 Million At $5 Billion Valuation

By Amit Chowdhry ● Jan 9, 2025

DDN, a leader in AI and data intelligence solutions, announced it has received a $300 million investment from funds managed by Blackstone Tactical Opportunities at a $5 billion valuation. This investment will help fund DDN’s continued rapid growth as it serves its customers’ fast-expanding AI and high-performance computing (HPC) software and infrastructure needs.

OnPay: Benefits Solution Company Raises Over $100 Million

By Amit Chowdhry ● Jan 9, 2025

OnPay, a leading provider of payroll, HR, and benefits solutions, announced that it has secured over $100 million in funding. This funding consists of a $63 million Series B funding round led by Carrick Capital Partners, with participation from AB Private Credit Investors, the middle market private capital platform of AllianceBernstein, and existing investors, and a debt facility provided by MC Credit Partners.

Citrin Cooperman To Raise Investment From Blackstone

By Amit Chowdhry ● Jan 9, 2025

Citrin Cooperman Advisors - a premier tax, advisory, and accounting provider for private middle-market businesses and high-net-worth individuals - announced a definitive agreement for a significant investment from private equity funds managed by Blackstone. Blackstone is acquiring its stake in the firm from New Mountain Capital as part of the transaction.

Stellar: AI-Based Business Solutions Company Raises $2.7 Million (Seed)

By Amit Chowdhry ● Jan 9, 2025

Stellar, a leader in AI-based business solutions, announced that it has raised $2.7 million in a seed funding round. This funding round was led by Ground Game, with additional participation from Elevate Ventures, a leading seed and early-stage investor in the Great Lakes Region. Ground Game and Elevate Ventures joined as new investors in the oversubscribed seed round.

Alta Resource: $5.1 Million (Seed) Funding Raised To Transform Mineral Separation

By Amit Chowdhry ● Jan 9, 2025

Alta Resource Technologies, a pioneer in utilizing advanced biochemistry to transform mineral separation, announced it has raised $5.1 million in an oversubscribed seed round co-led by DCVC and Voyager Ventures, with participation from Orion Industrial Ventures, Overture, and WovenEarth Ventures.

Infinite Reality: Immersive Technology Company Raises $3 Billion At $12.25 Billion Valuation

By Amit Chowdhry ● Jan 9, 2025

Sixth Street To Manage $13 Billion Of Northwestern Mutual’s Assets

By Amit Chowdhry ● Jan 9, 2025

Northwestern Mutual (a leading financial services provider of insurance and wealth products) and Sixth Street (a leading global investment firm) announced a new strategic partnership to support Northwestern Mutual’s long-term and diversified investment strategy for its institutional investment portfolios, which total over $320 billion. Under this partnership, Sixth Street will manage $13 billion of assets for Northwestern Mutual with the potential to scale. As part of the deal, Northwestern Mutual will acquire a minority equity interest in Sixth Street.

Nassau Financial Group Receiving $200 Million Minority Equity Investment From Golub

By Amit Chowdhry ● Jan 9, 2025

Nassau Financial Group (a leading provider of fixed annuities and asset management) and Golub Capital (a market-leading direct lender and experienced credit asset manager) have closed on their previously announced strategic partnership after satisfaction of closing conditions.

Pison: AI-Based Neural Sensor Company Raises Funding From Samsung Ventures

By Amit Chowdhry ● Jan 9, 2025

Pison, an AI-based neural sensors for cognitive health, wellness, and gesture control, announced an equity investment from Samsung Ventures. This funding highlights the dedication of Samsung Ventures to advancing future healthcare technology and acknowledges Pison’s potential in neurocognitive assessment and tracking capabilities.

Trinity Ventures Closes $435 Million Continuation Fund With Partners Group

By Amit Chowdhry ● Jan 9, 2025

Trinity Ventures, an early-stage technology venture capital firm, announced the closing of Trinity Ventures 2024, LP, a multi-asset continuation fund with about $435 million in total commitments. The new fund was formed to recapitalize a group of portfolio companies from Trinity Ventures XI, LP, a 2012 vintage fund.

Francis Medical: $80 Million (Series C) Raised To Develop Water Vapor Ablation Therapy For Treating Cancer

By Amit Chowdhry ● Jan 9, 2025

Francis Medical - a privately-held medical device company developing an innovative and proprietary water vapor ablation therapy for the treatment of prostate, kidney, and bladder cancer- announced the completion of the company's oversubscribed $80 million Series C equity funding, the most significant fundraising round to date for the company. Arboretum Ventures and Solas BioVentures co-led the Series C round. And new investors Orlando Health Ventures and two additional strategic partners joined this round, along with previous investors Coloplast A/S and Tonkawa.

Pepticom: Peptide-Based Therapeutics Company Raises $6.6 Million (Series A1)

By Amit Chowdhry ● Jan 9, 2025

Pepticom, a pioneer in AI-based peptide-based therapeutics, announced the completion of its Series A1 funding round, securing $6.6 million. Japan Israel High Tech Ventures 2 LP led the round, with strong participation from existing investors.

Fort Partners Secures $107.6 Million Construction Loan From Madison Realty

By Amit Chowdhry ● Jan 9, 2025

Madison Realty Capital, a vertically integrated real estate private equity firm focused on real estate private credit, announced that it has provided a $107.6 million loan to an affiliate of Fort Partners for the completion of Seaway North at The Surf Club, which is an ultra-luxury residential condominium project located adjacent to the Four Seasons Hotel and Residences at The Surf Club in the Surfside neighborhood of Miami.

Northern Light: $23 Million Raised From LoneTree Capital

By Amit Chowdhry ● Jan 9, 2025

Northern Light Group, a leading enterprise knowledge management platform for competitive intelligence and market research, announced a $23 million growth investment by LoneTree. The funding will accelerate Northern Light's ability to scale, providing capital and resources to drive continued product innovation and enhance its ability to support enterprise customers worldwide.

Electric Power Engineers: Strategic Growth Investment Raised From Berkshire Partners

By Amit Chowdhry ● Jan 9, 2025

Electric Power Engineers (EPE), a leading energy and power systems engineering and consulting firm, announced it received a significant strategic growth investment from Boston-based private equity firm Berkshire Partners.

CourseKey Raises Strategic Growth Investment From PSG

By Amit Chowdhry ● Jan 9, 2025

PSG, a leading growth equity firm that specializes in partnering with software and technology-enabled service companies to help navigate and capitalize on transformational growth, announced a strategic growth investment in CourseKey - a student success platform purpose-built for vocational education. CourseKey joins PSG's investments in Verity IQ and Campus Ivy, which creates a unified and end-to-end technology suite for career-focused and vocational education providers.

Deciphex: $32.3 Million (Series C) Raised For Addressing The Global Pathology Crisis

By Amit Chowdhry ● Jan 9, 2025

Deciphex, an AI-based digital pathology leader, announced it has closed its Series C funding at $32.3 million to address the acute global pathology crisis. Led by Molten Ventures with significant participation from ACT Venture Capital, Seroba, Charles River Laboratories, IRRUS Investments, HBAN Medtech Syndicate, and Nextsteps Capital, this funding will advance Deciphex's mission to democratize access to high-quality pathology through a technology-enabled global network of pathologists.