Tag Archives: artificial intelligence (AI)

Altor advances AI leadership through a strategic partnership with WovenLight

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Altor and WovenLight have entered into a strategic partnership to drive artificial intelligence (AI) in Altor as a firm and amongst its portfolio companies. The partnership is a core part of Altor’s ambition to play a leading role in value creation through AI following its successful investment in Silo AI, sold to AMD in Europe’s largest AI exit to date.

WovenLight was established to unlock superior performance in private markets by reimagining value creation capabilities through a differentiated “co-sponsorship” business model. With a focus on the private equity industry, WovenLight leverages its expertise to enhance the value creation plan and strengthen the investment thesis by operationalising AI within portfolio assets.

By partnering with WovenLight, Altor adds another layer to its long legacy of leading business transformations. WovenLight will act as an AI transformation partner to Altor and its portfolio companies through joint value creation initiatives. The collaboration already has several live projects, including in CCM Hockey and Svea Solar. Looking ahead, Altor and WovenLight will continue to identify initiatives to drive value creation by applying WovenLight’s know-how and AI capabilities to leverage both firms’ combined resources for greater results.

“We are excited to bring WovenLight on board as an AI transformation partner. Their expertise will help us accelerate our work to future-proof businesses. Value creation is at the core of what we do – it’s how we help companies win. Assisting companies through the AI transition will be one of the most important themes for private equity in the coming years,” said Paal Weberg, Managing Partner at Altor.

“We looked for the best experts in the industry and this is what we found in WovenLight. We are now, when adding WovenLight’s exceptional talent to our internal AI capabilities, taking a leading position in the industry with our technology-driven approach to value creation,” said Mattias Holmström, Partner and Head of the Tech Sector at Altor.

“I’m delighted to partner with Altor given their long-standing track record of helping build outstanding companies and delivering premium returns. We believe that working together systematically pre and post deal to assess and implement performance improvement through the use of data and AI represents the next generation in private equity value creation. Together we can help build purposeful and resilient businesses with the goals of outperformance and continuing to deliver compelling returns. Our approach brings together complementary skillsets and clear alignment of interest”, said Simon Williams, Partner and Founder of WovenLight.

About Altor

Since inception, the family of Altor funds has raised more than EUR 12 billion in total commitments. The funds have invested in more than 100 companies. The investments have been made in medium- sized companies predominantly in Nordic and DACH with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Silo AI, FLSmidth, Meltwater, Marshall, CCM and Mandatum.

About WovenLight

WovenLight is a technology and private equity investing company with a differentiated “co-sponsorship” business model, delivering sophisticated data analytics and artificial intelligence to improve performance in private equity portfolio companies, while deploying capital alongside private equity firms into these businesses. WovenLight was founded by Simon Williams, who previously co- founded QuantumBlack, a machine learning and data sciences consulting firm launched in 2009 and acquired by McKinsey & Company in 2015. Beginning in 2023, WovenLight has partnered with Tetragon Financial Group Limited and its private equity business, Banyan Square Partners.

Press contact

Karin Åström

Head of Communications

karin.astrom@altor.com

+46 707 64 86 59

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Introducing Mandolin: AI Teammates for Healthcare

Introducing Mandolin: AI Teammates for Healthcare

When we first met Will Yin and Rohit Rustagi, it was clear that they were obsessed with solving an urgent problem in healthcare: closing the time-to-access for specialty therapies that treat conditions like cancer and Alzheimer’s.

In our meeting, Will articulated how he could build “a new kind of worker for healthcare.” One that could log in, pick up the phone, fill out a form, and ultimately help patients get access to specialty pharmaceuticals in a fraction of the time.

It was an idea rooted in experience. Both Will and Rohit had family members struggle to access specialty therapies for conditions like cancer and Alzheimer’s — the types of drugs that cost hundreds of thousands of dollars and take weeks or months to approve (if they’re approved at all). These are powerful, personalized therapies, but the workflows to deliver them are stuck in the past. Clinics, health systems, and pharmacies lose weeks navigating approvals, reading policy documents, and chasing reimbursement — all while patients wait for treatment.

And the problem is only growing. Specialty drugs now account for over half of U.S. prescription spend and are 75% of the FDA drug pipeline. The healthcare system can’t keep up.

Mandolin is solving for this, with its AI automation platform for specialty drug access. We at Greylock are privileged to partner with Will and Rohit and lead the company’s Series A investment.

Mandolin’s AI agents act like full-time employees — reading, reasoning, and completing tasks across systems. From benefits verification to prior auth and billing, it’s not a tool but a workforce. One that works 24/7, scales effortlessly, and delivers higher accuracy than traditional workflows.

And it’s working. Since launching their agents in January, Mandolin is already live with some of the largest infusion providers, specialty pharmacies, and health systems in the country, including Vivo, FlexCare, OI Infusion, and TwelveStone. It’s deployed at 700+ clinics and serves over 250,000 new patients annually. Teams are cutting days of administrative work down to hours, increasing revenue, reducing manual overhead, and getting patients on therapy weeks sooner than before.

Some of the most thoughtful founders we’ve worked with didn’t initially set out to build companies, but encountered a problem they just had to solve. Will spent his high school and college years publishing neuroscience research and preparing for a career as a physician-scientist. Rohit, a Fulbright awardee, studied bioethics and entered med school at Stanford. They each walked away from medicine — not because they lost faith in science, but because they realized the real bottleneck was the system and the timing was right to make a real impact.

The emergence of multi-agent AI platforms finally has the tooling to automate complex workflows end-to-end. As Mandolin builds the definitive AI teammate for the largest health systems in the world, we’re proud to support Will, Rohit, and team as they turn AI into a force that helps more people access the care they need, when they need it. If you’re interested in this mission, Mandolin is hiring!

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Mercanis Secures Over $20 Million in Series A Round

AVP
  • The company receives fresh capital from new investors Partech and AVP, as well as from existing investors.
  • Mercanis enables over 40% process cost savings and supports clients such as BASF-Coatings, GASAG, Goldbeck, Wilson, and Brose.
  • The funds will be used to further develop Agentic AI and support the upcoming expansion plans, including into the U.S.

Berlin, June 11, 2025

In its latest Series A round, Mercanis, a Berlin-based startup for Agentic-AI procurement solutions, has raised over $20 million. The round was led by new investors Partech and AVP, with additional funding from existing investors, including Signals.VC, Capmont Technology, and Speedinvest. Well-known business angels like Dr. Ulrich Piepel, Dr. Marcell Vollmer, Mirko Novakovic (Instana & Dash0), and Victor Jacobsson (Klarna) continue their support for Mercanis. The additional capital will be used to further strengthen the company’s leadership position in Agentic-AI and accelerate its international expansion, including entry into the U.S. market.zIn its latest Series A round, Mercanis, a Berlin-based startup for Agentic-AI procurement solutions, has raised over $20 million. The round was led by new investors Partech and AVP, with additional funding from existing investors, including Signals.VC, Capmont Technology, and Speedinvest. Well-known business angels like Dr. Ulrich Piepel, Dr. Marcell Vollmer, Mirko Novakovic (Instana & Dash0), and Victor Jacobsson (Klarna) continue their support for Mercanis. The additional capital will be used to further strengthen the company’s leadership position in Agentic-AI and accelerate its international expansion, including entry into the U.S. market.

Fabian Heinrich, CEO and Co-Founder of Mercanis, states: “The trust placed in us by both long-standing and new investors is not only a powerful endorsement of our mission, but also a driving force behind our ongoing commitment to excellence. With this funding, we can expand our AI solution and accelerate our international expansion – particularly into the U.S. In times of geopolitical and economic uncertainty, our technology empowers companies far beyond Germany to build more resilient procurement operations that safeguard their supply chains and protect their bottom line.”

Next-generation AI-powered procurement

Founded in 2020 by Fabian Heinrich and Moritz Weiermann, Mercanis aims to reshape procurement processes with its Agentic-AI Procurement Suite. The cloud-based platform combines procurement, supplier management, and contract management. Intelligent agents autonomously handle operational tasks, while AI continuously analyzes procurement data to uncover savings opportunities, enhance strategic decisions, and drive measurable results—delivering over 40% process savings, a 2.5x increase in efficiency, and a 12x return on investment.

“Mercanis has transformed the way we manage suppliers and execute procurement projects. What used to take days now takes only hours. The automation and transparency help us act faster and make better decisions – especially when multiple stakeholders are involved. It’s a must-have for any procurement team looking to modernize,” says Uwe Kreplin, Head of Procurement at GASAG.

In addition to GASAG, Mercanis also counts BASF-Coatings, Goldbeck, Wilson, and Brose among its clients.

“Within just a few years, Mercanis has established itself as a trusted partner to multinational firms, with impressive traction across organizations now procuring billions through the platform,” says Philippe Collombel, Founding and General Partner at Partech.

“We are particularly impressed by the strength of their product and its ability to drive adoption at scale,” adds Magda Poslusny, Principal at Partech. “By automating key procurement processes, Mercanis not only boosts operational efficiency but also drives meaningful cost savings by engaging a broader supplier base. We are confident Mercanis is on track to become a category leader in procurement.”

About Mercanis

Mercanis offers an Agentic-Ai Procurement Suite that covers the entire procurement process – from supplier selection to contract signing. The solution includes four key modules: Spend Analytics, Sourcing & Request Processes (RFx), Supplier Management (SRM), and Contract Management. With the integrated Mercu AI Co-Pilot, repetitive tasks like supplier discovery, risk detection, intake management and offer comparison are automated, leading to significant efficiency improvements and over 40% process savings. Founded in 2020 by Fabian Heinrich and Moritz Weiermann, Mercanis supports prominent clients like BASF-Coatings, GASAG, Goldbeck, Wilson, and Brose in digitizing their procurement processes. The company is based in Berlin and currently employs over 40 people.
Learn more at mercanis.com

About Partech

Partech is a global tech investment firm headquartered in Paris, with offices in Berlin, Dakar, Dubai, Nairobi, and San Francisco. Partech brings together capital, operational experience, and strategic support to back entrepreneurs from seed to growth stage. Born in San Francisco 40 years ago, today Partech manages €2.5B AUM and a current portfolio of 220 companies, spread across 40 countries and 4 continents.
Learn more at partechpartners.com

Press Contact

Sabrina Rymarowicz
Zossener Straße 56-58
10961 Berlin
sabrina@get-press.de

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Diskover, Backed by Snowflake Ventures, Empowers Enterprises with Full Visibility into Their Legacy Data Estates

Snowflake

A successful AI strategy requires a solid data foundation, yet a striking number of data and AI leaders are feeling unprepared. According to a survey of executives, a quarter described their data foundations as “somewhat unready” to “very unready” to support generative AI applications, and more than half admit they are only “somewhat ready.”

Compounding this challenge, enterprises are grappling with petabytes of data trapped on legacy storage devices. The lack of visibility into these systems makes it impossible to search for or identify critical information and can cost companies with 100 employees dealing with data around $2.7 million dollars annually. Diskover is at the forefront of tackling this challenge by helping customers find, analyze and enrich data for smart decision-making and quick action — from everyday tasks to advanced AI and data lake applications.

The ability to unlock the value of scattered, unstructured data through global visibility is a key reason we are supporting Diskover through an investment from Snowflake Ventures. Our investment enables a seamless process for our joint customers to identify the most valuable data and enable developers to ingest that data into Snowflake using Snowflake Openflow without rearchitecting or setup.

Customers will be able to access Diskover via Snowflake Marketplace to get better visibility of their data across disparate storage systems such as NetApp, Dell EMC, Vast and DDN, all within their Snowflake environment. Looking ahead, once customers identify critical data using Diskover, they’ll be able to seamlessly replicate it to Snowflake using Openflow, and Diskover is developing the direct connectors to enable customers to do all this from the Diskover interface.

Diskover helps companies pinpoint their most valuable data across legacy storage appliances by delivering a unified view of all of an organization’s data, offering global visibility and searchability and providing features to enhance overall data efficiency. Combined with the power of Snowflake’s easy, trusted and connected platform, our integration will help customers effortlessly ingest their most essential data, bringing clarity and real operational value to build a robust data foundation ready for AI.

Stay tuned to try Diskover Data’s Snowflake connected app, available soon in Snowflake Marketplace.

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MiQ Sigma breaks the fragmentation cycle

Bridgepoint

The first AI platform that unifies the programmatic ecosystem

Technology is built on top of the three largest global LLMs and features an AI agent that transforms 700 trillion data signals into smarter media decisions in seconds

Global programmatic media partner MiQ today announced the launch of MiQ Sigma, a transformative AI-powered advertising technology trained on the world’s most connected data set. Built from the ground up with programmatic excellence at its core, MiQ Sigma unites over 300 diverse data feeds, spanning 700 trillion consumer signals across what consumers are watching on TV, browsing on the web, and buying in stores. Sophisticated AI is used across the platform to improve planning, audience development, and activation, allowing traders to drive market-leading outcomes for brands and agencies.

Having championed an agnostic and unbiased approach to programmatic buying since inception, MiQ Sigma is now the only advertising tool that connects the entire programmatic ecosystem in one place. This unified platform brings together data, technology, and campaign workflows, while applying advanced AI to make smarter decisions with speed. With the help of its Trading Agent, traders can reach valuable audiences across multiple DSP and SSP platforms and through different programmatically-enabled media across any screen. MiQ Sigma fundamentally shifts how brands and advertisers can connect with consumers, providing a level of speed and confidence in delivering results that are unrivaled in today’s fragmented digital landscape.

“Today is not just a launch—it’s the culmination of everything we’ve built over the last 15 years,” said Gurman Hundal, Global CEO and Co-founder of MiQ. “From day one, MiQ has believed in the power of agnostic partnerships, deep data intelligence, and human expertise to drive results. MiQ Sigma is the next evolution of that vision—enhancing core strengths with powerful new technology. In a fragmented and increasingly complex ecosystem, Sigma makes everything we do faster, smarter, and more connected—it’s what powers MiQ to drive market leading outcomes, and gives our teams and clients a serious edge in a rapidly changing market.” 

John Goulding, Global Chief Strategy Officer at MiQ added, “In the past, marketers had to make arbitrary choices around what ad platforms to use for their campaigns, which caused a trade-off in reach and performance. MiQ Sigma is a single-point-of-entry for programmatic advertising where you can harness intelligence, discover audiences, and then use agentic AI to execute multi-platform media buys in a matter of seconds. This is a new paradigm that truly puts results first and allows a well-written prompt to slice through the complexity of our ecosystem.”

In early testing, MiQ Sigma has shown to increase conversion rate by 132% and reduce cost per action by 57%. This is accomplished through key features and functionality built into the technology:

  • Sigma Intelligence. Powerful visualization featuring hundreds of diverse data feeds, spanning ‘watching, browsing and buying’ behaviors of over 1.7 billion global audience profiles, all connected together to provide marketers unmatched reach and insights.
  • Trading Agent. Campaign management and optimization features are supported by an interactive Trading Agent, trained on 15 years of MiQ trading data and underpinned by the three leading LLMs (Claude, Gemini, and ChatGPT). Through simple, natural language commands, the agent enables traders to make quicker multi-DSP decisions and take immediate action, automating what used to be manual analysis and improving performance.
  • Gen AI Personas. Custom audience profiles, built by generative-AI and accessed through natural language prompts, bring audience planning to life in seconds. These personas can then form the basis of campaign development, turning insights into actions in minutes.

 

“MiQ Sigma represents a breakthrough for our programmatic strategy and the brands we serve,” said Clive Record, Global President, Partnerships and Solutions, Dentsu. “What makes it so unique isn’t just that it unifies our view of audiences and platforms – it’s how it converts that unified view into smarter decisions across every aspect of campaign management. MiQ Sigma is a genuine step-change that empowers our agency to deliver what truly matters—impactful business outcomes for the world’s leading brands.”

MiQ Sigma’s ecosystem is fueled by integrations with industry leaders including The Trade Desk, Google DV360, Amazon Web Services, Samba, Experian, Databricks, Numerator, Celtra, and Circana – creating an unmatched foundation for programmatic excellence.

“MiQ’s commitment to building AI-driven, agnostic technology aligns with the future of programmatic, where marketers have greater control, flexibility, and performance across every channel,” said Matt Fogarty, GM Channel Partners at The Trade Desk. “As a key integration in Sigma’s development, we’ve worked closely with MiQ to push the boundaries of what’s possible, and we’re committed to supporting this platform as it establishes the new standard for programmatic advertising moving forward.”

MiQ has been supported by investment partner Bridgepoint, one of the world’s leading quoted private asset growth investors, since 2022.

“As the advertising industry continues to mature and embrace the transformative potential of AI, MiQ stands out as a clear leader. This launch represents the culmination of years of innovation, and we’re proud to see MiQ take this next step in scaling its impact across the industry,” said Xavier Robert, Chief Investment Officer at Bridgepoint. “By unifying a fragmented ecosystem with a powerful, AI-led platform, MiQ is not just responding to where the market is going, it’s helping to shape its future.”

MiQ Sigma is available immediately to clients in the United States, Canada, the UK, Australia, and select international markets, with global rollout planned throughout 2025. For more information or to request a demo, visit: www.wearemiq.com/sigma

Bridgepoint Group is one of the world’s leading quoted private asset growth investors, specialising in private equity, infrastructure and private credit.

With over $86 billion of assets under management and a strong local presence in Europe, North America and Asia, we combine global scale with local market insight and sector expertise, consistently delivering strong returns through cycles.

Bridgepoint Advisers Limited, a subsidiary of Bridgepoint Group plc, is authorised and regulated by the Financial Conduct Authority.

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Honeydew Revolutionizes Business Intelligence with Investment from Snowflake Ventures

Snowflake

At Snowflake, our mission is to empower every enterprise to achieve its full potential through data and AI. We actively support innovative companies within our ecosystem that demonstrate clear value for our customers, which is why we’re excited to invest in Honeydew, a former Snowflake Startup Challenge finalist. Honeydew’s Semantic Layer revolutionizes the way data teams collaborate on business intelligence and deliver impactful data-driven insights.

Underpinning Honeydew’s approach is our shared vision that “semantics should live in the data warehouse.” “A shared truth starts with a shared language — for people, for tools, for data transformation,” says Honeydew’s Co-Founder and CEO, David Krakov.

Honeydew makes it easier to make complex data more accessible, consistent and useful for Snowflake customers. In particular, its sophisticated semantic compiler enables end users to ask their own questions, using their own tools, on metrics processed directly in Snowflake. The compiler ensures that every ad hoc user question is translated to a Snowflake query that is both correct and lightning fast.

Bridging the gap between data, users and AI

In the age of AI, a robust and accurate understanding of data isn’t just important — it’s foundational. This is where Honeydew’s Semantic Layer shines. It acts as a crucial bridge that connects the business language that AI agents or BI tools use with intricate relationships, join paths, levels of granularity, metric definitions, nuances and dependencies within an organization’s data.

Honeydew built a Snowflake Native App for its Semantic Layer on Snowflake to provide seamless access within Snowsight UI, the Snowflake web interface, enabling applications built on Snowflake to leverage the Semantic Layer for query generation while extending Snowflake’s robust security features to it.

One logic and shared truth: Lightning-fast insights with Power BI

For organizations leveraging the power of Microsoft’s Power BI on Snowflake, Honeydew fundamentally transforms the BI experience by placing logic where the data resides. This changes how BI teams operate and empowers Snowflake customers to:

  • Increase speed and performance: Enable fast, direct queries on massive data sets, even those exceeding 1 billion rows.
  • Centralize governance: Build data access, business metadata, governance and cost controls once within Snowflake and seamlessly apply them across all Power BI instances.
  • Create a single source of truth for all critical business metrics: Say goodbye to duplicate logic. Defining key metrics and aggregations in SQL within Snowflake only once eliminates the need for complex Power BI DAX expressions or Tableau LOD calculations.

The tangible impact of Honeydew is clear. Just ask Pizza Hut. By tapping into Honeydew’s Semantic Layer, built natively on Snowflake, Pizza Hut has connected Power BI and Excel directly to its transactional data, giving business users real-time access to governed metrics without duplicating data. The results?

  • Reports delivered four hours earlier
  • 50% faster development of insights
  • 30% reduction in costs and engineering effort

Continued growth

Our investment in Honeydew reflects our belief in its vision and the transformative potential of its technology. We’re confident that Honeydew’s powerful Power BI integration and intelligent Semantic Layer will empower organizations to unlock deeper insights, improve data governance and ultimately make better, data-driven decisions. We’re excited to continue partnering with Honeydew and look forward to witnessing its growth and impact on the future of data and AI.

Discover how to leverage Honeydew for your Snowflake ecosystem at Snowflake Summit 2025 in San Francisco, June 2-5, 2025, by visiting Honeydew’s booth (#1204).

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MaxContact Strengthens AI Capabilities Through Acquisition of Conversational AI Firm, Curious Thing

FPE Capital

We are pleased to announce that MaxContact, a leading provider of customer engagement solutions, today announced its acquisition of Curious Thing, a conversational AI platform.

MaxContact was FPE’s seventh investment from FPE Fund II, the firm’s second specialist software and services fund. The move will significantly enhance MaxContact’s current AI capabilities while maintaining the company’s commitment to balancing technology with meaningful human connections in contact centres.

Integrating Curious Thing’s advanced conversational AI platform into MaxContact’s existing suite of solutions will accelerate the company’s product roadmap and provide clients with more sophisticated tools to enhance customer experiences. It also represents an exciting next step that builds upon MaxContact’s established AI offering, particularly its Spokn AI platform, which currently provides advanced speech analytics that helps businesses understand the ‘why’ behind 100% of contact centre conversations. The recent launch of Success Intelligence, an enhancement to Spokn AI that reveals the DNA of successful sales conversations through AI-powered analytics, further demonstrates MaxContact’s ongoing commitment to innovation in this space. Curious Thing’s conversational AI technology will strengthen these capabilities with the introduction of AI agents for sales, debt collection and customer use cases.

Ben Booth, CEO of MaxContactThe strategic acquisition of Curious Thing represents a major milestone in our AI strategy. We’ve always believed that the best conversation outcomes come from empowering human agents with the right technology, not replacing them. Curious Thing’s AI abilities will therefore help our clients’ contact centre teams become more efficient while maintaining that crucial human connection. We’re seeing a significant shift in how UK businesses approach customer engagement and digital transformation. Our clients are looking for solutions that empower their teams with AI-driven insights and assistance while preserving the authenticity and empathy that human agents can provide. This acquisition positions us perfectly to meet that need.

Chris Kay, Partner at FPEWe are thrilled to support MaxContact as they take this next strategic step. The acquisition of Curious Thing not only strengthens MaxContact’s AI capabilities but also reinforces our commitment to backing ambitious, innovative software companies. MaxContact is well-positioned to deliver enhanced solutions to their clients and drive continued growth in this rapidly evolving space.

The FPE investment was led by Chris Kay, Dan Walker and Sam Greenberg. MaxContact was advised on the transaction by Stephenson Harwood and Corrs Chambers Westgarth (Legal).

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Convergence, a pioneer in AI agent technology, signs a definitive agreement to be acquired by Salesforce

Balderton

We’re delighted to announce that Convergence, a pioneer in AI agent technology, has signed a definitive agreement to be acquired by Salesforce. Read the full story on the Salesforce newsroom.

Balderton led Convergence’s seed in September 2024. A few personal words from our Partner, James Wise, are below: 

Since announcing our seed investment into Convergence under 9 months ago, Marvin, Andy and team have been executing at lightning speed. They put together one of the most talented teams working on reinforcement learning in the world, developed a benchmark-beating web-browsing model and have helped 100,000s of users automate millions of tasks.

From the second we met them, we shared their passion for building full-stack solutions for agents, from model to user, to help people automate repetitive daily tasks and instead focus on what matters most. Joining Salesforce will allow them to continue on this mission, while remaining an integral part of the UK’s AI ecosystem, where they will continue to grow their team and capabilities. You can learn more about how Convergence will support Salesforce’s AI efforts in their post here.

From Revolut to Depop, Wayve to Dream Games, we’ve been on many different journeys as early-stage investors, however, none of us appreciated quite how quickly the Convergence team could build and scale such an impactful team and company. One of our core beliefs at Balderton is that the best way to change the world is to start a business. Marvin, Andy and the team embraced that value and put turbo-chargers underneath it.

As their board member, first user, and social-media advocate for the best part of a year, it’s been a pleasure working together, and we look forward to seeing the team continue on their mission as part of Salesforce.

James Wise and Marvin Purtorab
James Wise, Balderton and Marvin Purtorab, Convergence

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Algoma raises $2.3M Seed for its AI-native real estate development platform

SOSV

We’re thrilled to announce that Algoma, a participant in our HAX startup development program has secured a $2.3M Seed round led by Zacua Ventures, with participation from SOSV, Iron Prairie Ventures, DOMiNO Ventures, Compose VC and a network of angel investors across AI, construction, and real estate.

Real estate is the world’s largest asset class, globally valued at over $600 trillion, yet much of it still runs on manual labor and outdated processes. The pain is most acute during pre-construction, where developers must navigate high-stakes decisions with fragmented information and little transparency.

Algoma’s AI-native real estate development platform helps developers turn an address into a deal, accelerating confident decision-making abilities by delivering site feasibility in minutes and at the fraction of the cost as traditional methods.

The Algoma platform includes:

  • Instant zoning analysis
  • Market intelligence
  • Site-specific design massing
  • Unit mix and layouts
  • Pro-forma generation
  • Visualization for investors and agencies

Algoma’s founding team blends deep domain expertise across real estate, AI, and strategy:

  • Josef Bromovsky, CEO, has spent his career building technology at some of the world’s largest construction and infrastructure firms, focusing on digitizing early-stage planning and design.
  • Kyle MertensMeyer, Chief Product Officer, is an award-winning design architect and AEC Entrepreneur whose design work spans five continents, focusing on materiality and sustainable systems.
  • Seyfihan Usarer, COO, is a former McKinsey consultant and member of TikTok’s Monetization Strategy Team, with a background in leading digital transformations and scaling digital platforms.

Kira Colburn

See their press release here and more in Tech Funding News.

READ COMPLETE ARTICLE

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Akido Raises $60 Million Series B to Expand Reach of ScopeAI, its Breakthrough Health Artificial Intelligence

Oak HC FT

Akido’s ScopeAI is a first-of-its-kind system that fully integrates AI into a provider visit

Akido Labs, Inc. (“Akido”), the AI and care delivery company reimagining healthcare, today announced it has raised $60 million in Series B funding. The round was led by Oak HC/FT with participation from Greco, SNR, and existing investors Y Combinator, Future Communities Capital, Jeff Dean (Chief Scientist, Google DeepMind & Google Research), and the Comprehensive Blood & Cancer Center. Funding will be used to expand the reach of ScopeAI, a system that increases clinical capacity and improves healthcare access.

ScopeAI is transforming how Akido providers practice medicine – enabling them to care for dramatically more patients without compromising on quality. This unlocks time for providers to focus on complex cases, while increasing the total number of patients the system can support. The U.S. population requires over 3 billion doctor visits per year, yet only 825 million are currently available. The result is longer waits, especially for specialists, rushed appointments, and rising rates of preventable disease. Akido is addressing this crisis by embedding powerful medical intelligence directly into the clinical workflow – bringing scale, efficiency, and consistency to the front lines of care.

“We built ScopeAI to tackle the single biggest challenge facing healthcare systems worldwide: the physician shortage. With demand for care far exceeding supply, AI is the key to addressing the global doctor deficit, empowering healthcare providers, and ensuring patients receive the timely, high-quality care they deserve, regardless of financial means or geography,” said Prashant Samant, Co-Founder & CEO of Akido. “At Akido, we believe exceptional healthcare is a basic human right. Our work has always focused on democratizing high quality healthcare, and this funding enables us to accelerate that mission.”

In a ScopeAI visit, a trained Medical Assistant (MA) meets with a patient, guided by intelligent prompts from ScopeAI throughout the encounter. ScopeAI uses clinical reasoning to actively listen, adapt in real time, and build a comprehensive understanding of the patient’s condition. Its scribing and auditory capabilities allow for dynamic conversation while simultaneously generating a full clinical report, including a preliminary diagnosis, treatment plan, and justification log for each decision it makes. With ScopeAI, providers gain a deeper, more complete picture of a patient’s health with less time spent capturing it. An Akido provider can oversee a team of MAs conducting ScopeAI visits, increasing access to care while enabling the provider to focus on higher-acuity or more complex cases.

Akido’s AI-based healthcare visits have delivered 5x more face-to-face time with patients and have achieved a 96 NPS score. With this new funding, Akido will accelerate the development and deployment of ScopeAI throughout its Akido Care medical network of 240 providers across 26 specialties. It will also help support Akido’s entrance into new markets like the recently announced first-of-its-kind healthcare program in New York City that is designed to address specific chronic diseases for professional rideshare and for-hire drivers.

“Akido is delivering on the promise of changing how patients experience a visit with their provider through AI,” said Andrew Adams, Co-Founder & Managing Partner at Oak HC/FT. “With its robust, longitudinal dataset, Akido has the refinement in its foundational model to offer clinical accuracy where others have struggled. We are excited to partner with their exceptional team of healthcare and technical operators to scale ScopeAI, expanding access to high-quality, AI-powered care for more patients.”

Akido was founded in 2015 with the goal of reimagining healthcare for historically vulnerable communities by leveraging AI and machine learning. In 2022, Akido launched Akido Care, a medical network that today includes nearly 100 clinics, offering primary and specialty care across 26 sub-specialties. This dual strategy is what created the opportunity for Akido to leverage its proprietary dataset of over 10 million patient case studies and reinforcement-loop-human-feedback (RLHF) environment to launch ScopeAI. ScopeAI is one of the most sophisticated clinical AI systems available to providers, and it is continuously refined by incorporating real-time provider feedback. By integrating ScopeAI into the Akido Care medical network, Akido is positioned to empower providers to deliver highly personalized care to an individual patient while also scaling programs at a population level.

About Akido

Akido is pioneering a reimagined healthcare system with AI at its core; one that bridges artificial intelligence and empathy to bring exceptional healthcare to everyone. Its breakthrough technology unlocks the ability to transform the clinical experience, empowering providers and patients through an entirely new healthcare model. Founded in 2015, Akido was created out of the University of Southern California’s Digital Health Lab with the idea that empowering government, healthcare, and nonprofit services with population-based data could help usher in a new era of preventive public health. Known for developing award-winning data and technology solutions, today Akido leverages its market-leading technology to power its bicoastal Akido Care medical network, which includes more than 240 providers and 90 clinics across both coasts and a patient base of nearly half a million. For more information, please visit www.akidolabs.com.

About Oak HC/FT

Oak HC/FT is a venture and growth equity firm specializing in investments in fintech and healthcare. Using partnership as a foundation, Oak HC/FT guides companies and founders at every stage, from seed to growth, to create businesses that make a measurable and lasting impact. Founded in 2014, Oak HC/FT has invested in over 85 portfolio companies and has over $5.3 billion in assets under management. Oak HC/FT is headquartered in Stamford, CT, with an office in San Francisco, CA. Follow Oak HC/FT on LinkedIn and X and learn more at https://www.oakhcft.com/.

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