Led · Series D · Sep 2023

Founded in 2017, Openly focuses exclusively on serving independent insurance agents through a technology-enabled platform that streamlines quoting and delivers homeowners coverage. The company currently works with more than 60,000 agent partners across 24 states. Openly highlights an underwriting approach centered on disciplined risk selection, pricing precision, and portfolio management, which it says has produced strong performance despite elevated natural catastrophe activity. With the recent growth investment and an expanded reinsurance partnership with Allianz Re, Openly said it has strengthened its balance sheet and access to reinsurance capacity. The company plans to use the capital to expand into additional states, deepen relationships with independent agents, and broaden its product offerings. Strategic participation from Allianz X accompanies the new funding and reinsurance expansion.

Led · Equity · Sep 2023

UBQ Materials develops UBQ™, a bio-based thermoplastic made entirely from residual waste, including organics and hard-to-recycle materials. The material is used as a sustainable plastic substitute and has been integrated by customers such as Mercedes‑Benz, PepsiCo, and McDonald’s into products including car parts, footwear, pallets, display stands, panels, and planters. UBQ is a certified B Corp and is investing in R&D to develop new product lines aimed at the building and construction, consumer durables, automotive, and logistics and supply-chain industries. The company is building additional facilities in Europe and North America and plans to open an industrial-scale plant in Bergen op Zoom, Netherlands. That facility will have an annual production capacity of 80,000 tons of UBQ™, converting 104,600 metric tons of waste annually into a new raw material. UBQ is led by co‑CEOs Jack (Tato) Bigio and Albert Douer, and intends to use recent funding to expand commercial, sales, and marketing scale-up efforts. UBQ Materials claims to convert landfill-destined municipal solid waste, including all organics, into a recyclable, plastic-like material called UBQ. The company says UBQ can be used on its own or blended with conventional oil-based resins across construction, automotive, logistics, retail and 3D printing applications. UBQ is described as energy efficient, using no water and producing no effluents. The firm emphasizes broad industrial and consumer uses for the material. The company has attracted interest from impact- and climate-focused investors, though it is vague on the technical details of how the material is produced. UBQ recently completed a $170 million financing led by TPG Rise.

Participated · Series C · Sep 2022

Redesign Health creates and scales healthcare startups by assembling cross-functional teams in product development, business strategy and marketing to address market-identified unmet needs. The company operates as a company-builder rather than a traditional venture fund or narrow incubator, providing end-to-end support from market research and product design to go-to-market and board-level guidance. It employs venture chairs who help hire founding teams and serve as board members while bringing in partners such as seed investors, academic experts and health system leaders to launch businesses. Redesign prioritizes removing costs from the healthcare system, improving care quality and increasing patient access. Examples of companies spun out include Jasper Health, Springtide Child Development and Calibrate; more recent efforts target value-based care through startups like MedArrive and Duos. The company has grown to more than 300 employees and has spun out over 40 companies in four years; it is also a shareholder from day one in each company it builds.

Participated · Series D · Feb 2022

BlueVoyant is a cloud-native, outcomes-based cybersecurity company that combines internal and external defense capabilities into a single offering. It continuously monitors networks, endpoints, attack surfaces, supply chains, and the clear, deep, and dark web for threats, leveraging machine-learning-driven automation alongside human expertise. The company serves more than 900 clients globally and is led by CEO James Rosenthal. BlueVoyant raised over $140M in a Series E and plans to use the proceeds to expand operations and its business reach. It recently acquired Conquest Cyber and is integrating Conquest’s SaaS ARMED ATK™ platform with its internal and external defense solutions to create a comprehensive cyber risk management platform. The acquisition brings Conquest’s focus on protecting critical infrastructure sectors — including the defense industrial base and state, local, and federal government — to BlueVoyant’s offerings. BlueVoyant provides a mix of proprietary technology, third-party best-in-class tools, and professional services to manage both internal and external cyber risks for enterprises. Its internal offering includes managed detection and response (MDR) toolsets and integrations with Microsoft apps, Splunk, and endpoint protections. Externally the company offers real-time supply-chain and domain monitoring that detects malicious activity affecting partner organizations and enables alerting and remediation. A professional services team complements the automated tooling to implement and operationalize defenses for customers. BlueVoyant has around 500 customers across roughly 16 industries and reports customer growth of 80%. The company plans to use the $250M to continue developing technology, expand its team, and enter new markets beyond the 50 countries where it is active today, adding two countries each quarter. BlueVoyant is a New York–based, expert-driven cybersecurity services company led by co-founder and CEO Jim Rosenthal. It offers three lines of business: Managed Security Services for 24/7 detection and response; Third-Party Cyber Risk Services for supply chain and investment portfolio defense; and Cyber Defense Services including incident response, defense assessment, brand protection and threat intelligence. The company says it enables businesses to operationalize ecosystem-scale cybersecurity effectively and efficiently. Since its inception in July 2017, BlueVoyant has expanded to more than 300 clients across four continents and 16 industries, including financial and business services, manufacturing, municipal government, healthcare and pharmaceutical, energy and utilities, and education. On July 17, 2020, it closed a $68M third funding round led by Temasek, bringing total funding to $275M to date. BlueVoyant intends to use the proceeds to accelerate growth across its three core business lines. BlueVoyant is a New York–based enterprise cybersecurity company offering managed security, professional services and threat intelligence. It builds some of its own IP and integrates software from major security partners while emphasizing implementation and operations. The company targets both small and medium enterprises—providing enterprise-grade services—and larger firms that need supplemental security expertise. Since launching managed services in 2018, BlueVoyant has acquired roughly 150 customers across financial services, manufacturing, municipal government and education. It operates in the U.S., Israel, the U.K., Spain and the Philippines. Financially, it raised an $82.5M Series B at a valuation in excess of $430M and has raised $207.5M in total to date.

Participated · Series D · Oct 2021

Flock Freight operates a Shared Truckload (STL) freight brokerage that leverages AI-powered, patented pooling technology to combine shipments from thousands of businesses. Its platform optimizes across the company’s entire customer network to generate cost savings for shippers and earnings for carriers while reducing carbon emissions. The company emphasizes a low carbon footprint as a key outcome of its pooling approach. Flock Freight was founded by CEO Oren Zaslansky and is based in Encinitas, California. The business plans to use new capital to expand operations and broaden its business reach. No revenue or user metrics were disclosed in the article. Flock Freight offers FlockDirect, a software-driven "shared truckload" service that pools midsized freight from multiple shippers headed the same way using probability-pricing algorithms. The model lets customers avoid repeated loading/unloading and pay only for needed trailer space while enabling haulers to fill trucks to capacity. It also runs a "prebate" program for freight under 40 feet and 36,000 pounds to deliver incremental cost savings. The company says its technology can cut carbon emissions by as much as 40% versus hub-and-spoke shipping and estimates it has eliminated more than 15,000 tons of emissions to date. Flock plans to use new funding to expand operations and hire, including opening a new Chicago office this year. Flock Freight built a software platform that pools shipments going the same direction into single shared truckloads, avoiding the traditional hub-and-spoke LTL model. Its algorithms enable shippers to treat freight up to 44 linear feet as ‘shared truckload,’ improving utilization and, the company says, cutting freight-related carbon emissions by about 40%. The company is five years old and is based in San Diego. Flock Freight plans to use new funding to hire more employees; it had 129 employees at the time of the report. Financially, the company recently closed a large financing and has raised $184 million to date, with a post-funding valuation reported at $500 million. The product is positioned as an alternative to digital freight-matching services by focusing on the shipments themselves rather than only matching truckers and shippers. Flock Freight is a Solana Beach, Calif.-based hubless business-to-business freight logistics company founded in 2015 by Oren Zaslansky. Its core product, FlockDirect, is a hubless pooling product that uses proprietary algorithms to pool multiple less-than-truckload (LTL) and partial-truckload (PTL) shipments into full truckload service. FlockDirect is positioned as a mid-market and enterprise-level solution that aims to eliminate terminals, remove the need to switch trucks or stop at warehouses, optimize routes and guarantee delivery dates. The company raised $50M in a Series B funding round led by SignalFire and GLP Capital Partners. Flock Freight intends to use the proceeds to expand FlockDirect. The product is designed to create a predictable shipping schedule for customers by consolidating shipments and optimizing routes.