The Venture Codex

Led · Equity · Jun 2022

L7 Informatics provides a comprehensive operating environment and software stack that brings flexible, secure, and collaborative data+intelligence to life sciences and healthcare organizations. Its L7|ESP platform functions as an end-to-end transformation engine that optimizes the flow of information between processes and people across clinical, research, and manufacturing value chains. The company positions its stack to unlock innovation at every stage of those value chains and to solve contemporary data-intelligence challenges. Management announced a $38 million investment to support the business. The new funding is intended to accelerate product development, expand L7|ESP's global reach, and strengthen customer support. L7 is headquartered in Austin, TX. L7 Informatics provides the Enterprise Science Platform (L7|ESP), a software platform that simplifies data management and digitalizes and automates workflows for therapeutics, diagnostics, medicine, research, and agrochemical industries. The platform aims to enable efficiencies, compliance, reduced costs, and improved operational velocity for enterprise science operations. The company serves life sciences and healthcare customers with solutions for enterprise-scale digital transformation and scientific process automation. Led by CEO Dr. Vasu Rangadass, L7 focuses on commercializing its platform to drive broader adoption. The company announced a Series B financing to support those commercialization efforts. L7 is based in Austin, Texas. Lab7 Systems builds the Enterprise Science Platform (ESP) to help life science laboratories manage complex sample-to-answer workflows in data-intensive environments. The company also curates BioBuilds, a distribution hub for Open Source bioinformatics tools. Lab7 aims to integrate next-generation, computationally intense tools into research practice while preserving data provenance and supporting regulatory compliance. The company positions its software to reduce hands-on data management burden on bioinformaticians, scientists, and IT teams. Lab7 plans to use new financing to enhance its core software platform and expand its team of software developers and bioinformaticians. It is pursuing broader commercial presence to accelerate life-science innovation across fields from precision medicine to industrial biotechnology.

Led · Equity · Jun 2022

Hint Health offers HintOS, a platform designed to help providers of any size manage enrollment, membership management, and billing for membership-based direct primary care (DPC). HintOS also supports direct-to-employer contracting by managing eligibility and a payment process that does not depend on fee-for-service infrastructure. The company operates Hint Connect, a national network of DPC providers, and runs the Hint Summit conference as well as a free DPC Accelerator training and coaching program for customers. Hint Health plans to use the new funding to further develop its operating-system technology for core customers, expand the Hint Connect network, and increase services supporting virtual-first care models and near-site/on-site clinics that contract directly with employers. Led by CEO Zak Holdsworth, Hint Health is available nationally and powers over 2,400 DPC providers and 1,600 clinical locations, reaching nearly 800,000 patients. The platform automates the administrative processes for DPC practices that offer primary care directly to consumers for a fixed monthly fee. Hint Health is a provider-focused direct care administration platform that enables doctors to disintermediate the health insurance industry. The platform provides healthcare providers with tools to operate and administer their own plans and compete directly with insurance-based models. Founded in 2013 and based in San Francisco, the company was co-founded by Zak Holdsworth and CTO Graham Melcher. Clients include Redirect Health, Nextera Healthcare, Wellness For Life, Peakmed, and Parsley Health. The company intends to use the new funding to continue expanding operations. Financially, Hint Health secured a $10M Series A led by AXA Venture Partners with participation from several strategic and healthcare investors.

Led · Series C · Sep 2021

LevaData provides an integrated, AI-driven supply management platform that delivers predictive insights for direct material sourcing and new product development. The platform analyzes business objectives against real-time market activity and community intelligence to help sourcing and procurement teams act before cost or events harm margins or speed to market. LevaData emphasizes multi-tier supplier engagement and quick collaboration tools to improve margins, control risk, and increase product velocity. Many of the world’s largest brands, as well as small- and medium-sized OEMs, are customers. The company reported significant global revenue growth during the first half of 2021. LevaData plans to continue platform buildout, expand its partnership community, and scale operations to deliver more value to buyers, suppliers, and partners. LevaData sells the Cognitive Sourcing™ platform and its flagship AI sourcing advisor, Leva, to help customers sense, recommend, act, and learn for direct materials sourcing. The platform targets high-tech and manufacturing customers and serves procurement, supply chain, engineering, and finance organizations across Fortune 1000 and mid-sized OEMs. LevaData claims to guarantee 10–30% incremental cost savings for its customers and has a stated plan to deliver $20 billion in verifiable value by 2022. The company has been recognized by Gartner (2018 Cool Vendor), Spend Matters (50 Providers to Watch), and received an SDCE Top 100 award. LevaData plans product and capability expansion into industrial equipment and medical devices, and to grow its engineering presence in Silicon Valley while advancing data science and engineering innovation. LevaData offers a Cognitive Sourcing Platform that leverages AI, consolidated spend analytics, commodity category trends, community benchmarking, and predictive insights to help procurement and sourcing teams identify risks and sustainable cost‑savings. The platform is purpose‑built for sourcing, supply chain, and product engineering professionals to make part and supplier choices, optimize costs, and reduce risk. LevaData emphasizes its roots in supply chain operations and brings advanced optimization, big data, and network collaboration technologies to market. Leadership includes founder and CEO Rajesh Kalidindi and senior executives with decades of supply chain analytics experience. The company is privately held and headquartered in Sunnyvale, Calif. LevaData says it will use the new funding to continue investing in its AI‑enabled sourcing solution to improve sourcing and procurement decisions.

Led · Series A · May 2021

Fluence offers the only financial close and consolidation software aimed at mid-market companies, emphasizing quick deployment, adoption and time to value via a cloud calculation platform. The product targets companies that otherwise rely on spreadsheets, overly simplistic mid-market tools or complex enterprise software. Fluence says its solution delivers faster, trusted numbers for assessing past performance and planning. The company will use the funding to accelerate growth, expand its product offering and customer base, and to accelerate its product roadmap. It plans considerable new investments in services, customer success, sales and marketing. Leadership changes include incoming CEO Michael Morrison and founding CEO John Power remaining as chief operating officer.

Led · Equity · Aug 2015

IQMS develops an integrated real-time ERP and manufacturing execution system (MES) that combines ERP and MES into a single, extended single-database enterprise solution. The platform offers functionality across accounting, quality control, supply chain, shop floor, WMS, CRM and related business operations. IQMS serves automotive, medical, packaging, consumer goods and other manufacturing markets and has offices across North America, Europe and Asia. The company has operated for more than 25 years and positions its software as mission-critical for shop-floor visibility amid increasing regulatory complexity. Management plans increased investment in product and the business to expand its leadership in manufacturing ERP, supported by recent external capital and board additions. IQMS provides extended ERP and MES software and hardware solutions for repetitive, process and discrete manufacturing industries. Its flagship product, EnterpriseIQ, is a single-database, scalable platform with more than 25 modules including accounting, quality control, supply chain, shop floor, quality management and CRM. The solution is used by several thousand users across end markets such as automotive, medical, packaging, consumer goods, food and beverage, and chemicals. IQMS operates offices across North America, Europe and Asia and emphasizes real-time visibility and customer support. The company plans to accelerate growth through increased investment in sales, marketing and product development while maintaining its customer-centric support model. Founded in 1989, IQMS also offers accompanying hardware solutions alongside its software.