Participated · Series A · Jun 2018

Listo Financial offers responsible credit, auto insurance and life insurance products through strategically located physical retail stores and online. The company was founded by former founders and executives of Oportun and is led by co-founder Sam Ulloa. Listo aims to become the trusted financial services provider to the large and growing U.S. Latino community, many of whom remain underbanked. The business says it has ongoing traction and plans to build out its digital offerings and broaden its reach. As part of its growth and governance, Roman Leal of LEAP and Paul Purcell of Continental Advisors will join Listo's board. The company is based in Palo Alto, CA.

Participated · Series A · Dec 2016

SupportPay provides a web and mobile platform for divorced, single, step, co-parents, and caregivers to manage and exchange shared expenses, child support, custody, schedules, and communications. Users can view, pay, and document every bill and shared expense and receive a certified record for compliance, court, and tax purposes. The app serves more than 75,000 consumers worldwide and is offered as an employee benefit for global brands like Hearst. The company plans to use the funds to expand operations, deliver additional payment options for families, expedite enterprise adoption, and expand its offering to support any family member involved in sharing, managing, and tracking expenses and schedules. Led by founder and CEO Sheri Atwood, SupportPay supports both web and mobile access. The company is based in Charlotte, NC and aims to grow adoption among employers and families. SupportPay operates an online platform that tracks and manages child and spousal support, automating payment tracking, billing, receipt management, payments and producing a certified record. The service enables parents to share expenses and provides organized documentation that benefits family lawyers and has reduced court time. Founder Sheri Atwood rebuilt the product after purchasing the company's assets following liquidation and refocused the business on revenue and increasing paid users. During the COVID-19 pandemic daily registrations tripled and demand for child support modifications increased six-fold, with divorce filings expected to jump 50% early next year. To meet that demand the company is seeking outside financing to build family-law infrastructure and expand marketing to courts, family lawyers, and mediators; it also hired Erika Englund as chief strategy officer. SupportPay provides a platform to automate child support payments and enable parents to share and track additional expenses such as medical, child care, education, and extracurricular activities. The service manages base payments, tracks shared expenses, lets parents pay one another through the app, keep detailed records, set payment reminders, dispute or approve charges, and print court-certified documents. The platform is available online and via mobile apps for iOS and Android as well as tablets. Led by Founder & CEO Sheri Atwood and CTO/COO Jyoti Das, the company currently has nearly 40,000 users. SupportPay has raised over $7m since 2014 and recently closed a new financing to support growth. The company will use the funds to expand its team and ramp up marketing to reach parents, family law professionals, and government agencies across the country. SupportPay provides a platform to automate child support payments and let parents submit, share and pay child-related expenses. The platform allows a parent to manage monthly child support payments, submit additional expenses with attached receipts, and lets the other parent review items and make or schedule payments directly. It stores complete child-support information and provides a certified record suitable for court or tax purposes. SupportPay is available as a web, Android and iOS application. The company, led by Founder & CEO Sheri Atwood and based in Santa Clara, CA, closed an additional $1.5M funding round and has raised $2.6M to date. It plans to use the funds to support growth, expand channels and enhance the platform’s features. SupportPay provides a private, secure platform to standardize billing and automate payments for shared child-related expenses—medical, child care, education and other costs not covered by court orders. The product includes expense tracking, reminders and transparent access to transactions, and is available online and as Android and iOS apps. SupportPay offers both a free tier and a subscription option and was built on the Salesforce1 Platform. The service was beta-tested by Ittavi in January and officially launched roughly three-and-a-half months before the article; it reports about 2,100 users across Australia, Canada, the U.K., and the U.S. The company cites a large market opportunity (Atwood notes 39 million divorced couples in North America exchanging over $200 billion and a nearly $1 trillion global market) and says there are no competing services addressing this space.

Participated · Seed · Jan 2014

Drizly Group operates an online marketplace for beer, wine and spirits that provides a transparent shopping experience where consumers can compare stores on price, delivery time and overall rating. The company is led by CEO Cory Rellas and is based in Boston, MA. It operates in 235 markets across North America through a network of 3,300 independent and chain retail partners. Drizly also houses Lantern, an independently operated online cannabis commerce company launched in March. Lantern is currently operating in Massachusetts and Michigan. Drizly intends to use new funds to further accelerate product and customer growth. Drizly operates an on-demand delivery app that displays local store prices and delivery or pick-up options for beer, wine and spirits. The company partners with approximately 1,000 brick-and-mortar liquor stores across the U.S. and Canada and says deliveries arrive in less than an hour. Drizly recently completed a $34.5 million financing, roughly doubling its prior $33 million in total funding. Over the past year it has added a CMO, CFO and head of HR and in late summer shifted co-founder Nick Rellas into an advisory role while Cory Rellas became CEO. The company made its first acquisition in July, absorbing Buttery and integrating that startup’s backend technology and employees. Drizly says Cory’s operational experience and time at Bain Capital position him to lead the company through its next stage of growth. Drizly operates a marketplace and commerce platform that lets local liquor stores list beer, wine and spirits, showing shoppers local prices and delivery or pickup options via web and mobile. The company has shifted from an on-demand delivery model toward a metasearch‑style marketplace for alcohol e-commerce. Stores pay a monthly licensing fee to use Drizly’s software and sell through its platform; Drizly sets prices per market based on local spend and delivery costs. The company is using recent capital to build new features and services, expand into more US regional, suburban and rural markets, and roll out in-store pickup nationwide. Drizly also plans to develop personalized recommendations to engage different customer segments, such as corporate bulk buyers and wine enthusiasts. The business faces competition from general food e-commerce players and other alcohol-focused apps but cites legal and infrastructure advantages from four years of work. Drizly provides technology infrastructure and an e-commerce platform that enables liquor retailers to offer on-demand delivery and manage orders. Users can browse a wide variety of beer, wine and spirits and see delivery windows and prices from retail partners. Retail partners receive orders through Drizly and fulfill deliveries with their own staff, paying Drizly a slice of each transaction. Drizly Connect, launched earlier this summer, offers longer delivery windows up to 48 hours and positions the company as an Amazon Prime–like option for alcohol. According to CEO Nick Rellas, around 40% of orders on the platform are placed at least 36 hours in advance. The company currently serves 23 markets and is on pace to be in 30 markets, including some in Canada, by the end of the year. With this round, Drizly’s total funding stands at $32.8 million. Drizly operates a mobile app that lets users order spirits, beer and wine from local liquor stores and have them delivered. The system integrates with liquor stores' POS so orders flow directly to vendors for fulfillment, avoiding the need to build Drizly-owned delivery infrastructure. Drizly intentionally partners with stores that already offer delivery and charges vendors a monthly licensing fee that varies by location and transaction volume. The service is handling orders in the low tens of thousands each month and is reporting roughly 25% month-over-month growth across major markets. Drizly is currently live in multiple U.S. cities and aims to expand to about 30 markets by year-end. A partnership with the Wine & Spirits Wholesalers of America gives Drizly access to a network of wholesalers to help onboard more vendors.