Tag Archives: Information technology

MineralTree Raises $50M Series D Funding and Acquires Inspyrus and Regal Software

Great Hill Partners

New investment and acquisitions fuel growth in fast-growing AP automation and B2B payments market

| Source: MineralTree, Inc.

CAMBRIDGE, Mass., Sept. 24, 2020 (GLOBE NEWSWIRE) — MineralTree, an Accounts Payable (AP) and payments automation solution provider, today announced that it has closed a $50 million Series D investment round with participation from existing investors Great Hill Partners, .406 Ventures, and Eight Roads Ventures. In addition, MineralTree has acquired two companies in the AP automation and B2B payables space, Inspyrus and Regal Software, to further expand its market position in providing AP and payment automation to middle market companies.

The investment round and acquisitions come at a time when MineralTree is seeing increasing demand for its solutions as businesses of all sizes are becoming focused on addressing both pandemic-related work-from-home mandates and rising costs associated with manually processing invoices and B2B payments. $27 Trillion in B2B payments are made in North America every year and businesses spend an estimated $510B on direct and indirect manual AP costs making those payments. By automating AP, businesses can save as much as 80% of these costs and allow their AP process to function seamlessly while working fully remote.

Today’s additional funding and strategic company acquisitions equip MineralTree with expanded product capabilities, partnerships, and scale to serve the needs of a much larger portion of the middle market and up into the enterprise market. Additionally, the funding and acquisitions will bolster capabilities available to existing MineralTree customers and Bank partners.

“Mid-market companies of all sizes continue to show strong interest in automating their AP and payments processes, but as a market segment have been overlooked and underserved,” said MineralTree Chief Executive Officer, Micah Remley. “Our vision to revolutionize B2B commerce starts with making the invoice to payment processes simple, speedy, and secure for mid-market customers and our Bank partners. This new funding, combined with expanded product capabilities and scale that come as a result of acquiring Inspyrus and Regal Software, uniquely positions MineralTree to do just that.”

Silicon Valley-based Inspyrus is an AP automation software solution for large mid-market and enterprise customers. Since its founding in 2008, Inspyrus has built significant scale in AP automation and currently processes over 15 million invoices, representing more than $100B in AP spend, annually in its software platform. It provides out-of-the-box integrations with leading ERP systems such as SAP and Oracle’s E-Business, JD Edwards, PeopleSoft, and ERP Cloud systems. With Inspyrus, MineralTree adds robust product features such as advanced PO matching, Artificial Intelligence-enabled predictive coding, and real-time invoice capture.

“Mid-market companies continue to lag behind their enterprise contemporaries in automating,” stated Inspyrus Founder and Chief Executive Officer Nilay Banker. “Automating these processes can deliver not only significant cost savings, but also increased financial visibility, and fraud reduction. The combination of capabilities from Inspyrus and MineralTree will help accelerate the digitization of Accounts Payable and B2B payments processing across more companies globally.”

Regal Software, founded in 2008 and headquartered in Atlanta, Georgia, provides easy-to-use ERP connectors to more than 160 different ERP systems. Its RegalPay solution is used by more than 350 corporate customers and partners including leading banks, card issuers, and financial services institutions to serve their business customers’ needs. Regal Software expands MineralTree’s ability to integrate with both bank and business financial systems, removing one of the biggest barriers to adoption of e-payments.

“We are thrilled to become part of the MineralTree family today,” commented Regal Software Founder and Chief Executive Officer, Kofi Conduah. “The combined strengths of MineralTree and Regal Software position us as the only choice to help mid-market companies easily transition to electronic payments and empower Banks to help their commercial customers do the same.”

Resources:
Industry Report: The State of AP 2020: A Research Report
Product Overview: End-to-End AP Automation – How it Works
Blog Post: Blog: Top 3 AP Automation Misconceptions
Webinar: Building the Modern Finance Function through Digital Transformation

About MineralTree
MineralTree provides modern, secure, easy-to-use, end-to-end Accounts Payable (AP) Automation solutions that reduce costs by more than 75%, increase visibility and control, and mitigate fraud and risk, while improving cash flow. More than 2,000 mid-market and mid-enterprise companies, as well as more than 25 financial institutions rely on MineralTree to digitize and optimize the entire AP Automation and Payments process, preserving control over the complete invoice-to-payment workflow, improving vendor relationships, maximizing ROI, and transforming the finance function from a cost center to a profit center. For more information, visit https://www.mineraltree.com.

 

Media Inquiries
Tim Walsh
617.512.1641

Categories: News

Tags:

NUVIA Raises $240M Series B Funding as it Accelerates Plans to Deliver Industry Leading CPU Performance to the Data Center

Atlantic Bridge

NUVIA Raises $240M Series B Funding as it Accelerates Plans to Deliver Industry Leading CPU Performance to the Data Center

Santa Clara, Calif., September 24, 2020 – NUVIA, a leading-edge silicon design company, today announced the close of its Series B funding round, raising $240M.  The funding round was led by Mithril Capital in partnership with Sehat Sutardja and Weili Dai (founders of Marvell Technology Group), funds and accounts managed by BlackRock, Fidelity Management & Research Company LLC., and Temasek, with additional participation from Atlantic Bridge, Redline Capital, Capricorn Investment Group, Dell Technologies Capital, Mayfield, Nepenthe LLC and WRVI Capital. The closure of NUVIA’s Series B round builds on a $53M Series A round, raised in November 2019. NUVIA was founded in February 2019 by John Bruno, Manu Gulati and Gerard Williams, with the vision to create the world’s leading server processor.

“The opportunity in front of NUVIA has never been brighter, with an industry that’s looking for a new way to get the performance needed to power the next generation of cloud and enterprise computing,” said Gerard Williams III, CEO, NUVIA. “We’re very fortunate to have an incredible group of investors behind us as we close Series B and take the next steps in our vision to redefine performance, energy efficiency, scalability, compute density and total cost of ownership within the data center.”

NUVIA is building a leading-edge SoC and CPU core, codenamed “Orion” and “Phoenix,” that are designed to deliver industry leading performance on real cloud workloads. More details on performance for the Phoenix CPU can be found at https://nuviainc.com/blog/performancedeliveredanewway.

About NUVIA

Headquartered in Santa Clara, NUVIA was founded on the promise of reimagining silicon design for high-performance computing environments. The company is focused on building products that blend the best attributes of compute performance, power efficiency and scalability. For more information, please visit www.nuviainc.com.

Categories: News

Tags:

NUVIA Raises $240M Series B Funding as it Accelerates Plans to Deliver Industry Leading CPU Performance to the Data Center

Atlantic Bridge

Santa Clara, Calif., September 24, 2020 – NUVIA, a leading-edge silicon design company, today announced the close of its Series B funding round, raising $240M.  The funding round was led by Mithril Capital in partnership with Sehat Sutardja and Weili Dai (founders of Marvell Technology Group), funds and accounts managed by BlackRock, Fidelity Management & Research Company LLC., and Temasek, with additional participation from Atlantic Bridge, Redline Capital, Capricorn Investment Group, Dell Technologies Capital, Mayfield, Nepenthe LLC and WRVI Capital. The closure of NUVIA’s Series B round builds on a $53M Series A round, raised in November 2019. NUVIA was founded in February 2019 by John Bruno, Manu Gulati and Gerard Williams, with the vision to create the world’s leading server processor.

NUVIA Raises $240M Series B Funding as it Accelerates Plans to Deliver Industry Leading CPU Performance to the Data Center

“The opportunity in front of NUVIA has never been brighter, with an industry that’s looking for a new way to get the performance needed to power the next generation of cloud and enterprise computing,” said Gerard Williams III, CEO, NUVIA. “We’re very fortunate to have an incredible group of investors behind us as we close Series B and take the next steps in our vision to redefine performance, energy efficiency, scalability, compute density and total cost of ownership within the data center.”

NUVIA is building a leading-edge SoC and CPU core, codenamed “Orion” and “Phoenix,” that are designed to deliver industry leading performance on real cloud workloads. More details on performance for the Phoenix CPU can be found at https://nuviainc.com/blog/performancedeliveredanewway.

About NUVIA

Headquartered in Santa Clara, NUVIA was founded on the promise of reimagining silicon design for high-performance computing environments. The company is focused on building products that blend the best attributes of compute performance, power efficiency and scalability. For more information, please visit www.nuviainc.com.

Categories: News

Tags:

Vector Capital Acquires Patron Technology

No Comments

Vector Capital

SAN FRANCISCO–(BUSINESS WIRE)–Vector Capital, a leading private equity firm specializing in transformational investments in established technology businesses, today announced its investment in Patron Technology (“Patron”), a premier event technology platform.

Patron offers a full-suite of event technology solutions for live, virtual, and hybrid events designed to transform the attendee experience. The company empowers event organizers at conventions, sports arenas, music venues, performing arts festivals, and other attractions to tailor their ticketing, mobile, experiential marketing, and cashless products to fit each of their vertical-specific needs. Patron’s seasoned management team, led by Chief Executive Officer Marc Jenkins, is remaining with the business.

“We are excited to back Patron as they successfully navigate unprecedented, COVID-induced, market disruption in the live events industry,” said Rob Amen, Managing Director at Vector Capital. “Vector excels at investing during periods of significant dislocation and we believe Patron’s best-in-class product suite and proven executive team position it well to transcend this crisis. We are confident that our growth investment will enable Patron to not only outlast this global pandemic but to emerge stronger than ever on the other side of it.”

Mr. Jenkins stated: “This is an exciting and important day in our company’s history. It kicks off a fresh new partnership alongside the thoughtful investment team at Vector. We are eager to work with them to propel our business through the age of social distancing and beyond. I’m extremely proud to be part of such an amazing team, past and present, that works tirelessly to serve our world-class clients.”

In response to COVID-19, Patron’s expert team was able to pivot and develop a fully-integrated virtual events solution, complete with a suite of ticketing and experiential tools. With these features, in addition to the company’s already extensive technology toolkit, Patron became the first of its peers to offer a complete solution for any combination of online and in-person events.

“With a great set of products, a strong balance sheet, and a management team unparalleled in its industry, Patron is well positioned to grow over the coming years,” added Tom Smith, Vice President at Vector Capital. “We look forward to partnering with Marc and his team as they continue to grow from this new position of strength and renewed investment.”

About Patron Technology
Patron Technology’s limitless event technology solution is redefining what it means to be an event creator. With its ever-evolving suite of tools, organizers can take control of their entire event, transform the attendee experience, and be a leader in their industry. Whether an organizer wants to create an in-person event, a fully virtual experience, or anything in between, Patron Technology’s team and technology are fully equipped with everything an organizer needs. For more information visit patrontechnology.com.

About Vector Capital
Vector Capital is a leading global private equity firm specializing in transformational investments in established technology businesses. With approximately $4 billion of capital under management, Vector actively partners with management teams to devise and execute new financial and business strategies that materially improve the competitive standing of businesses and enhance value for employees, customers, and all stakeholders. For more information, visit vectorcapital.com.

Contacts

For Vector Capital:
Nathaniel Garnick / Grace Cartwright
Gasthalter & Co.
(212) 257-4170

Categories: News

Tags:

Within3 Raises over $100 Million in Growth Funding to Fuel Rapid Global Expansion

Life science companies worldwide are using Within3 as their primary platform for enterprise-wide virtual communication

Within3, the leading enterprise-wide solution for life science collaboration and communication, closed over $100 million in growth funding in a financing round led by Insight Partners, with participation from Silversmith Capital Partners. The funding will be used to accelerate product innovation, build infrastructure to outpace growing demand, and fuel international expansion.

20 out of the top 20 pharmaceutical companies already use Within3 for global collaboration to bring drugs to market more quickly, publish clinical studies, host advisory boards and engage virtually on any business initiative with multi-stakeholder involvement. With users in over 150 countries and thousands of implementations worldwide, Within3 is the pioneer in enabling complex virtual communication in a secure environment. Each implementation is carefully designed to drive business outcomes and allows asynchronous participation supplemented with real-time touchpoints. Always-available reporting and analytics ensure real-time alignment of program goals. Within3’s unique combination of real-time and over-time communication drive the highest level of engagement and strong, measurable business results across the enterprise.

“Global demand for our solution is surging at an unprecedented rate,” said Lance Hill, CEO of Within3. “Life science companies are looking for virtual work solutions that exceed the level of engagement of traditional live interactions, meet all their compliance needs, and that will scale across the enterprise. They have found that solution with Within3.”

“The funding will allow us to accelerate our growth and product pipeline to continue to meet the growing demand from the market,” continued Hill. “We will be able to accelerate new innovations in our product roadmap and bring our customers smarter, more innovative solutions faster.”

“Investment opportunities in companies like Within3 don’t come around very often,” said Deven Parekh, Managing Director at Insight Partners. “The company has seen explosive growth over the last 12 quarters and continues to break new records each month. Their unparalleled ability to enable companies to achieve the results they desire faster and cheaper, and scale across the enterprise solving complex problems in all divisions of an organization sets them apart from other virtual engagement solutions. At a time when collaboration, communication and cooperation are more critical than ever across the global life sciences ecosystem, we are excited to bring our strategic operations expertise to help Within3 scale.” Parekh, along with Insight Partners’ Managing Directors Adam Berger and Ross Devor will join Within3’s board.

With over 80 compliance features, translation into more than 100 languages and a world-class client success team that is a part of every single implementation, life science companies are turning to Within3 as an enterprise-wide solution and their primary resource for stakeholder engagement.

Aeris Partners LLC served as the exclusive financial advisor to Within3. Willkie Farr & Gallagher served as legal advisors to Insight, and Kirkland and Ellis represented Silversmith Capital Partners.

ABOUT WITHIN3

Within3 invented a better way for life sciences companies to have conversations with the people who matter most—from doctors to patients to payers, and more. Our virtual engagement platform gives stakeholders the freedom to communicate anytime, anywhere, on any device. With practical tools to foster meaningful discussions and a dedicated client success team on every project, most Within3projects achieve 100% stakeholder participation. Learn more at www.within3.com or follow us on Twitter @Within3.

ABOUT INSIGHT PARTNERS

Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.

ABOUT SILVERSMITH CAPITAL PARTNERS

Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $1.1 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. The partners have over 75 years of collective investing experience and have served on the boards of numerous successful growth companies.

Contacts

Whitney Hausmann
whausmann@within3.com

Related Information

View Here

Categories: News

Tags:

SAP.iO Fund Invests in Neural-Based Search Company Jina AI

Sap.IO

BERLIN — SAP SE (NYSE: SAP) today announced that its investment arm, SAP.iO Fund, has backed Jina AI, a Berlin-based company providing an open source neural search solution.

Jina AI combines recent advances in machine learning for computer vision, speech recognition and natural language processing into a new search platform to provide greater accuracy, flexibility and adaptivity to search inputs.

The core project of Jina AI is called Jina on GitHub, allowing users to create a cloud-native search solution powered by deep learning in just minutes. Jina slashes from months to minutes the time it takes to build a production-ready neural search system well suited to business environments that require a fast and lightweight development cycle. Since its release on GitHub in May 2020, this project already has attracted more than 2,000 commits from 48 contributors worldwide. As of now, Jina supports searching text, image, video, audio and cross-modality data, with support for more data types coming in the future.

“As companies accelerate their digital transformations, a clear need has emerged for better, more accurate enterprise search,” said Ram Jambunathan, SAP senior vice president and managing director of SAP.iO.  “We are excited by Jina AI’s potential to provide a highly accurate search solution for SAP customers.”

Jina AI was founded by Dr. Han Xiao, who is well known for the development of the next-gen search infrastructure for Tencent’s messaging app, WeChat. He also is noted for his leadership with Tencent’s Open Source Program Office, where he fostered the company’s open source and dev-ops culture. Xiao served as a board member at Linux Foundation AI in 2019 and is founder and chairman of the German-Chinese Association of AI.

Visit the SAP News Center. Follow SAP on Twitter at @SAPNews.

Media Contacts:
Anke Otto-Jungkind, +1 (650) 796-6478, anke.otto-jungkind@sap.com, PT
Lesa Beber, +1 (650) 390-1629, lesa.beber@sap.com, PT
SAP Press Room; press@sap.com

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (“SEC”), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
© 2020 SAP SE. All rights reserved.
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices.

Tags: ,

 

Categories: News

Tags:

Edenred Capital announces exit of portfolio company LaunchPad to OutMatch

Edenred

Edenred Capital Partners announces the sale of portfolio company LaunchPad to OutMatch. Founded in 2011 by Will Hamilton, Launchpad is a London-based recruitment automation and video interviewing platform that provides end-to-end recruitment automation. The merger with US-based OutMatch will create a first-of-its-kind candidate-driven talent selection platform that marries automation and AI bringing efficiency and data to the hiring process.

Norbert Furnion, managing partner of Edenred Capital and board member of Launchpad since its first investment in 2014, stated: “We are proud to have helped Will Hamilton in this journey from a Seed-level investment to a sale to a leading player in HR Tech, which will help grow the strong suite of products developed by LaunchPad. We wish Will and OutMatch every success in the future and we are certain they will continue to thrive as they consolidate their market position.”

OutMatch is a portfolio company of Rubicon Technology Partners (Boulder, Colorado) and Camden Partners (Baltimore, Maryland).

About Edenred Capital Partners

Edenred Capital Partners is the Venture Capital investment arm of Edenred Group, the world leader in corporate transactional services. We are looking for ambitious teams of entrepreneurs reshaping interactions between companies, workforce and merchants. We invest up to €10m, from Series A to Series C, alongside other investment funds. Edenred Capital Partners provides financial and operational support to entrepreneurs. The structure of our organisation facilitates relationships within Edenred’s ecosystem to generate operational synergies. Our investment scope covers Human Capital Management, Professional Mobility, Payment and Retail. Investments include Addworking, Andjaro, Fretlink, Lucky Cart and Zenchef in France, Beamery, Fuse and Launchpad in the UK, Avrios and Beekeeper in Switzerland and Candex in the US.

About LaunchPad

LaunchPad’s recruitment technology platform brings together the latest in video interviewing technology, best of breed assessments, automation, reviewer insights and predictive analytics to optimize your hiring process – allowing you to create a seamless candidate experience, improve the reliability of your hiring decisions and hire the best candidates, faster, all from one platform. LaunchPad has served 350+ clients and processed over 3 million interviews worldwide for some of the world’s leading brands.

About OutMatch

The OutMatch Talent Intelligence Platform brings clarity to talent decisions by gathering the right data and putting the insights companies need at their fingertips. We help the world’s biggest brands to select and develop great people, maximizing the employee life cycle. Nearly 100 million candidates and employees have used OutMatch technology, with over 10 million flowing through per year. This volume of data gives OutMatch unique insight into the workforce and prepares OutMatch clients for the future of work. OutMatch was recently named to the 2020 Inc 5000 list as well as Inc magazine’s annual list of the Best Workplaces for 2020.

Categories: News

Tags:

Attentive Raises $230 Million Series D Investment, Led by Coatue, to Enhance Product and Expand Support for Customers

Atomico

The funding will be used to further accelerate our rapid pace of product innovation and business growth as we continue to create the best-in-class personalized text messaging solution for our 2,000+ customers.

We’re thrilled to share that Attentive has raised a $230 million Series D investment, led by Coatue. Read more in Forbes.

Tiger Global, Wellington Management Company, D1 Capital Partners, Atomico, and Sozo Ventures are new investors in the company—joining existing investors Bain Capital Ventures, Sequoia, Sequoia Capital Global Equities, Coatue, IVP, Eniac Ventures, NextView Ventures, High Alpha, and Sapphire Ventures.

Mobile and e-commerce growth have accelerated over a matter of months this year, creating a lasting impact on consumer behavior. As a result, the way consumers and businesses interact is fundamentally shifting.

Today’s mobile-first consumers expect businesses to engage with them where and how they prefer—on their mobile devices. The future of business-to-consumer communications is mobile, two-way, and personalized interactions.

Over 2,000 innovative businesses—including Tapestry (Coach, Kate Spade, Stuart Weitzman), Urban Outfitters, Michaels, Steve Madden, and Jack in the Box—rely on Attentive to help engage their mobile audiences with personalized text messaging, driving billions of dollars in transactions. On average, Attentive is responsible for driving 18.5% of our customers’ total online revenue.

We continue to be very impressed by Attentive’s growth and performance and are very excited to expand our partnership with the team. We believe that mobile messaging will be how consumers will want to interact with businesses due to its immediacy, relevancy, and ease of use and believe that Attentive is strongly positioned as a leader in this space.

– Lucas Swisher, Partner at Coatue

This investment comes just five months after the announcement of the extension of our Series C round. In that time, we’ve tirelessly pushed innovation to meet widespread market demand and support our customers by building sophisticated product functionalities that deliver powerful results.

We’re on a mission to create the best personalized text messaging platform that helps our 2,000+ customers effectively engage their mobile audiences. This additional capital will be used to continue to accelerate our rapid pace of product innovation and to invest in the hiring and professional development of the top talent working towards this mission.

Attentive now has over 400 full-time employees—a 310% increase in headcount year-over-year. Notably, more people have joined the company since the transition to remote work due to COVID-19 than were on the team prior to March. (We are continuing to hire—view open roles here.)

Attentive has become an incredibly important part of our brand’s digital strategy and overall revenue growth. The platform’s capabilities and the team’s expertise in the text messaging space are both incredible, and have been integral to our success.

– Jeff Silverman, President of Global E-Commerce at Steve Madden

Thank you to all of our customers, investors, advisors, and industry partners for your continued support of Attentive.

To learn more, read the article in Forbes and the full press release.

Categories: News

Tags:

NextCapital Receives $30 Million Growth Investment Led by Francisco Partners

Franciso Partners

Press Release – September 22 2020

Investments from FP Credit, Oak HC/FT and IA Capital Group to advance retirement income capabilities and growth partnerships

CHICAGO — NextCapital, the leader in enterprise digital advice, today announced $30 million in growth financing, bringing the company’s total funding to $85 million. The financing was led by FP Credit, the credit investment arm of Francisco Partners, a leading global investment firm. Oak HC/FT and IA Capital Group also participated in the capital raise.

NextCapital enables its commercial partners to rapidly bring to market a cost-effective, full-stack digital advice solution that is built to support the demanding requirements of large enterprises. The company enables scalable financial planning, advice, and managed accounts across leading financial institutions.

“This funding advances our mission to help everyone retire successfully,” said NextCapital Chief Executive Officer and Co-Founder John Patterson. “Our partners are equally essential to the success of this mission, so we are excited to use this funding to further invest in our Partner Success program. This capital raise also allows us to extend our best-in-class workplace and rollover managed advice platform, as well as expand our retirement income offering.”

“NextCapital is at the forefront of the digital transformation sweeping the $8 trillion defined contribution market,” said Peter Christodoulo, partner at Francisco Partners. “Especially in the current economic climate, there is an urgent need to give Americans institutional-grade advice both in the accumulation phase for younger workplace savers and during the decumulation phase for older investors.”

NextCapital’s multi-channel solution supports defined contribution, IRA rollover, and retail accounts. Other key configuration features include:

  • Custom user experience and ongoing engagement
  • Configurable investment methodologies and advisory roles
  • Self-service and advisor-assisted service models
  • Plan advisor enablement
  • Integrations with 401(k) recordkeeping systems and retail custodians

“NextCapital is unique among its competitors in their ability to work with all firms in the retirement ecosystem, from large asset managers to recordkeepers to large advisory firms. NextCapital can build completely customized managed advice solutions for their partners that fulfill each institution’s unique requirements,” said Alois Pirker, research director for Aite Group‘s wealth management practice. “NextCapital’s platform addresses the needs of enterprise partners across the entire retirement landscape.”

Francisco Partners was advised by Akin Gump Strauss Hauer & Feld LLP as its legal advisor.

About NextCapital Group

NextCapital is an enterprise digital advice company whose mission is to help everyone retire successfully. NextCapital partners with financial institutions to deliver personalized planning and managed accounts to individual investors across multiple channels, including 401(k), IRA, and taxable brokerage accounts. NextCapital’s open-architecture digital advice solution provides integrated account aggregation, analytics, planning and portfolio management, and allows partners to customize advice methodology and fiduciary roles.

“NextCapital” is a brand name representing NextCapital Group, Inc. and its wholly owned subsidiaries, NextCapital Software, Inc. and NextCapital Advisers, Inc. NextCapital Advisers, Inc. is an investment adviser registered with the Securities and Exchange Commission (SEC). NextCapital Software, Inc. is not registered with the SEC and does not provide investment advice.

About Francisco Partners

Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch 20 years ago, Francisco Partners has raised over $24 billion in committed capital and invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

About Oak HC/FT

Founded in 2014, Oak HC/FT is the premier venture growth-equity fund investing in Healthcare Information & Services (“HC”) and Financial Services Technology (“FT”). With $1.9 billion in assets under management, we are focused on driving transformation in these industries by providing entrepreneurs and companies with strategic counsel, board-level participation, business plan execution and access to our extensive network of industry leaders. Oak HC/FT is headquartered in Greenwich, CT, with offices in Boston and San Francisco. Follow Oak HC/FT on Twitter, LinkedIn, and Medium.

About IA Capital Group

Founded in 1992, IA Capital Group Inc. (previously Inter-Atlantic Group) is based in New York City and manages venture capital funds under the Inter-Atlantic name. The firm has a 20 year track record in insurtech and fintech venture capital, the longest of any insurtech-focused venture capital firm. Its fully-exited first fund, Inter-Atlantic Fund LP, had three portfolio company IPOs and ranks as the number one performing fund in several databases among comparable funds of its vintage. IA Capital currently makes strategic venture capital investments on behalf of 15 insurance companies.

Categories: News

Tags:

Ionir Launches Cloud Native Storage and Data Platform for Kubernetes with $11M in Funding led by JVP

C5 Capital

ntroduces industry first solution for instant mobility of applications and data between clouds

Press Release provided by Ionir—

New York, NY. – September 21, 2020 –Ionir launched today its container native  software defined storage and data management platform, designed to support Kubernetes production workloads in private cloud, hybrid cloud, and multi-cloud deployments.  The Ionir enterprise software defined storage platform delivers  Data Teleport™, the industry’s first instant mobility capability for persistent volumes, that allows stateful applications to be copied or moved instantly between Kubernetes clusters. Ionir also announced $11 million in funding led by Jerusalem Venture Partners (JVP) alongside C5 Capital.

The Ionir solution brings the same portability and mobility that customers get with containers and Kubernetes to data and persistent volumes. Based on the unique and proven technology developed by Reduxio, the Ionir’s platform eliminates the complexity of storage and data management for Kubernetes based clouds by allowing customers to build a seamless data layer and a common set of data management workflows independent of the underlying cloud or infrastructure.

“With Data Teleport, persistent volumes can be moved or copied between Kubernetes clusters and clouds in under 40 seconds independent of the size of the volume or the amount of data involved” said Jacob Cherian, CEO, Ionir. For example, in a production/development hybrid deployment, developers will no longer have to wait for hours or days for volumes to be copied to get access to the latest data. With instant mobility data can be refreshed in under a minute accelerating development processes and the delivery of new capabilities.”

The Ionir platform is the first microservices based software defined storage and data management solution for Kubernetes that allows the platform to be extended to support future interfaces and technologies without the need for fork-lift upgrades. The platform today provides the following capabilities:

  • Fully virtualized persistent volumes with no practical size limit
  • Data Teleport™ – Instantly copy or move volumes of any size across clouds
  • Instant clones for data and application recovery
  • Global deduplication and compression for efficiency at scale
  • Fault tolerant and highly available

 

“As a long standing investor in the cloud and infrastructure space, we have a track record of investing in companies that deliver the most innovative solution in the market to the world’s leading enterprises” said Fiona Darmon, General Partner, JVP and Ionir Board Member. “We are proud to lead this round in Ionir, leveraging the proven Reduxio technology, bringing about a new era of data democratization as organizations the world over will have the freedom to choose and move data freely between their cloud silos.”

Enterprise adoption of Kubernetes is increasing; but using legacy storage solutions and the lack of instant data mobility creates infrastructure silos and operational challenges in private cloud, hybrid cloud and multi-cloud deployments. Ionir’s platform and instant data mobility capability  allows enterprises to unify multiple infrastructure environments into a single data cloud with seamless mobility of applications and data.

“Ionir is disrupting the Kubernetes and cloud data storage market by helping organizations achieve seamless mobility for their applications and data” said Michael Wall, Chairman of Ionir, and a storage and IT infrastructure industry veteran. “This technology will redefine IT workflows and open up new possibilities for customers to maximize the return on their investments in multi-datacenter, hybrid cloud, and multi-cloud strategies.”

For more information about Ionir, the company’s vision, and to request a demo of the product and Data Teleport™ please visit www.ionir.com

About Ionir

Ionir’s cloud native storage and data management platform for Kubernetes combines high performance software-defined container-native storage and data management with data mobility to enable customers to build a single data cloud for their applications across all their infrastructure, anywhere. Ionir is backed by leading international VC funds Jerusalem Venture Partners (JVP) and C5 Capital, among others.  For more information, visit www.ionir.com Connect with Ionir on LinkedIn, Twitter, and Facebook.

Categories: News

Tags: