• OnShift

  Participated · Series C · Feb 2014

  OnShift is a Cleveland, Ohio-based developer of human capital management software for the long-term, post-acute care market. Santa Monica-based private equity investor Clearlake Capital led a strategic funding round in the company. Financial details of the strategic investment were not disclosed in the article. The provided article text is behind a paywall and cuts off before OnShift's full statement on the funding. No operating metrics, valuation, or use-of-proceeds were included in the available text. OnShift is a Cleveland, OH-based provider of cloud-based human capital management software and services for the healthcare industry. Led by CEO Mark Woodka, the company offers products for hiring, scheduling and workforce analysis tailored to post-acute care and senior living providers. Its offerings combine software and services to support hiring, workforce scheduling and analysis. Clients named in the article include Senior Living Communities, HCF Management, Altercare and Friendship Village. OnShift closed an $18M Series D and intends to use the funds to expand product development and accelerate sales and marketing. OnShift offers SaaS and mobile staff scheduling and labor management software designed for long-term care and senior living providers. Its platform predicts and prevents overtime and understaffing, reduces time spent on scheduling and managing open shifts, and integrates with time-keeping, HR, clinical, and payroll systems. The company reports growth to over 1,000 customer sites in the past year. Market demand has been driven by Medicare and Medicaid reimbursement cuts, Affordable Care Act changes, and an aging population, which have increased provider focus on labor costs. OnShift plans to use new financing to accelerate research and development and expand sales and marketing to increase its presence in the healthcare market. Management positions the product as an easy-to-use scheduling solution with a tightly integrated communications platform that delivers fast ROI. OnShift develops web-based staff scheduling and shift management software for long-term care and senior living providers. Led by CEO Mark Woodka and based in Cleveland, OH, the product integrates with time-keeping, HR, clinical and payroll systems. It helps customers control labor costs by preventing overtime, managing open shifts and maintaining appropriate staffing levels. The software predicts and prevents overtime and understaffing while dramatically reducing time spent on scheduling and managing open shifts. The company plans to use new capital to accelerate sales and marketing and expand its presence in the healthcare industry. OnShift offers web-based staff scheduling and shift management software for long-term care companies and other healthcare organizations. Its platform is designed to reduce labor costs by preventing overtime, mitigate regulatory compliance risk, and improve efficiencies through automated scheduling and open shift management. The company is Cleveland, Ohio–based and serves healthcare employers seeking to optimize workforce scheduling. OnShift closed a $2.3M venture capital financing to support its growth. The company intends to use the funds to accelerate sales and marketing efforts and increase its market share in the healthcare industry. In conjunction with the funding, Michael Stubler of Draper Triangle Ventures will join OnShift’s Board of Directors.

• Neuros Medical

  Led · Equity · Jul 2012

  Neuros Medical is a Willoughby Hills, Ohio–based neuromodulation company focused on treating intractable post-amputation pain through its proprietary Altius High-Frequency Nerve Block system. The implant consists of a cuff electrode placed around a peripheral nerve and an implantable pulse generator that delivers high-frequency electrical signals to block pain transmission. The technology, originally invented at Case Western Reserve University by Drs. Kevin Kilgore and Niloy Bhadra, targets both phantom limb pain and residual limb pain. Neuros Medical is currently running the pivotal QUEST trial, a 180-subject, randomized, double-blinded, active-sham–controlled study being conducted under an IDE to evaluate safety and effectiveness. Proceeds from the latest financing will fund completion of QUEST enrollment and preparation of a Pre-Market Approval application to the FDA. Led by President and CEO Tom Wilder, the company aims to commercialize Altius as a novel alternative to existing pain management solutions. Financial metrics such as revenue or installed base were not disclosed in the article.

• Juventas Therapeutics

  Participated · Series B · Jul 2012

  Juventas Therapeutics is focused on developing non-viral gene therapies for advanced cardiovascular diseases, with its lead candidate JVS-100 undergoing evaluation in clinical studies. JVS-100 is being developed under an exclusive license from the Cleveland Clinic. The company was founded in 2007 and is based in Cleveland, Ohio, and is led by president and CEO Rahul Aras, Ph.D. Juventas recently expanded its Board of Directors with the addition of James Boland. Financially, the company secured a financing package comprising equity and debt to support its clinical-stage programs. The financing details indicate a mix of Series B-2 equity and debt with milestone-linked additional capital available. Juventas Therapeutics, founded in 2007 and led by President & CEO Rahul Aras, Ph.D., is a Cleveland, OH-based clinical-stage regenerative medicine company advancing JVS-100, its lead product encoding Stromal cell‑Derived Factor 1 (SDF‑1). JVS-100 has been shown to repair damaged tissue by recruiting circulating stem cells to sites of injury, preventing ongoing cell death, and restoring blood flow. The company closed a $22.2M Series B financing and intends to use the funds to complete ongoing Phase II clinical trials. The Phase II trials are investigating JVS-100 in patients with chronic heart failure and critical limb ischemia, and both trials are actively enrolling. The financing supports continued clinical development of the therapy and associated programs.

• SironRX Therapeutics

  Participated · Series A · Aug 2011

  SironRX Therapeutics is a Cleveland, OH-based biotechnology company developing novel regenerative therapies to accelerate dermal and bone healing. Its lead product, JVS100, is a clinically tested therapy that encodes Stromal cell-Derived Factor-1 (SDF-1), a molecule produced in response to tissue injury that activates natural repair processes, prevents cell death and recruits stem cells. The company develops therapies exclusively licensed from Juventas Therapeutics and Cleveland Clinic. SironRX plans to evaluate JVS100’s safety and efficacy in the treatment of post-surgical wounds as its first clinical indication. The company closed a $3.4M Series A and intends to use the funds to build its team and execute key clinical-stage milestones. SironRX is led by co-founder, President and CEO Rahul Aras, Ph.D., and Claiborne Rankin of North Coast Angel Fund serves as the company's board chairman. SironRX Therapeutics is developing JVS-100, a clinically tested biopharmaceutical that encodes Stromal cell-Derived Factor-1 (SDF-1) as a topical therapy to promote wound repair and prevent scarring in post-surgical wounds. The company plans to use recent funding to begin a Phase II clinical trial of JVS-100. Preclinical studies cited broader dermal applications for the candidate, including treatment of chronic ulcers and burns. SironRX is a spinoff of Juventas Therapeutics; Juventas licensed the drug’s intellectual property from Cleveland Clinic in 2007. The company is based in Cleveland, OH, and its CSO is Marc Penn, M.D., Ph.D., Director of the Skirball Cardiovascular Cell Therapy Laboratory at Cleveland Clinic. Operationally it has received a $500,000 investment from JumpStart Ventures and Cleveland Clinic as part of a larger fundraising round.

• Cleveland HeartLab

  Participated · Equity · Mar 2010

  Cleveland HeartLab operates a CLIA-certified, CAP-accredited specialty clinical laboratory providing a proprietary five-biomarker inflammation panel anchored by its CardioMPO test to assess cardiovascular disease risk. The panel assesses distinct inflammatory pathways to provide broader prognostic coverage than traditional blood tests and to help physicians identify patients at higher risk of heart attack or stroke. CHL was spun out of Cleveland Clinic in 2009 and runs an R&D laboratory developing next-generation cardiovascular biomarkers. The company completed an $18.4 million Series B financing to support rapid growth and product development. Planned expansions include launching a dysfunctional HDL test in early 2012, expanding its proprietary test menu, in-licensing new biomarkers, and tripling its Cleveland Health‑Tech Corridor operations footprint. CHL targets a multibillion-dollar market amid high cardiovascular disease prevalence—more than 81 million Americans with some form of cardiovascular disease and roughly 750,000 annual deaths from heart disease and stroke. Cleveland HeartLab (CHL) is a Cleveland, Ohio-based clinical laboratory and disease management company that offers proprietary diagnostic tests built on molecular biomarkers. The company completed a $3.0M financing round to support growth. CHL plans to use the funds to expand its reference laboratory operations, increase selling and marketing efforts, advance its pipeline of markers such as dysfunctional HDL and nitrotyrosine, and move toward profitability. In conjunction with the financing CHL made several leadership appointments, naming Les C. Vinney chairman and Jake Orville president and chief executive. Drs. Marc Penn and Stanley Hazen were appointed chief medical officer and chief scientific officer, respectively, and an advisory board led by Dr. Penn includes William C. Popik, Michael C. Fiore, and Melissa A. Ohlson. No operating metrics or additional financial details were disclosed in the article.

No current team members are available.