The Venture Codex

Participated · Equity · Feb 2025

Founded in 2022 by CEO Rachel Edenfield, Swell develops scalable, AI-driven mental health tools that supplement traditional therapy and broaden access in underserved markets such as military communities. The company built an MVP and began generating revenue within five months of inception, then launched a full beta at Fort Campbell two months later. Swell has since secured contracts with Tricare and Humana Military, expanded its provider network across Kentucky and Tennessee, and filed a patent for a HIPAA-compliant AI intermediary that powers its self-guided therapy prototype. The startup was also accepted into the Awesome Fellowship, underscoring early validation of its approach. Looking ahead, management plans to grow both its client and therapist bases to accelerate revenue and aims to win a development contract with the Department of Veterans Affairs for its AI-enabled product. The recent capital raise will fund continued product development and operational expansion.

Participated · Seed · Dec 2023

Narratize is a trusted generative AI coauthor for innovative enterprises. Based in Cincinnati, OH, it positions itself to accelerate innovation through the power of story. The company closed a $2 million seed round to support its growth. The round was led by Kubera Venture Capital and HearstLab, with participation from Cintrifuse Capital, Keyhorse Capital, North Coast Ventures, and How Women Invest. Narratize said the funding will be used to accelerate development of its generative-AI coauthor capabilities.

Led · Equity · Oct 2023

PreventScripts builds a preventive health platform that gives physicians insurance-covered digital tools and a patient app to assess, monitor, and encourage behavior change for at-risk patients. The app delivers content and recommendations from ADA, AHA, and the Diabetes Prevention Program and integrates biometric education aligned with AAP and AFP adolescent/adult guidelines. It supports monitoring of blood pressure, weight, blood sugar, and BMI and is designed to sync with a provider’s clinic workflow. The company emphasizes reimbursable tools that providers can deploy to engage patients and improve prevention. PreventScripts is led by CEO Brandi Harless alongside Jay Campbell and Dr. Natalie Davis and is based in Paducah, Ky. The company plans to accelerate growth into core markets across Tennessee, Kentucky, Ohio, Illinois, Mississippi, Alabama and Georgia.

Participated · Series B · Jan 2010

Comet Solutions, Inc. is a Cincinnati, Ohio–based provider of software for model-based concept engineering that helps teams evaluate design concepts early in the product design cycle. Its core product is an integrated conceptual modeling and collaborative process automation workspace that enables engineering project teams to evaluate design concepts versus engineering requirements. The platform performs analyses through reusable, tool-neutral simulation templates powered by an Abstract Engineering Model®, allowing engineers to gain insight into product performance earlier and make better-informed decisions. The company is led by President and CEO Dan Meyer. Comet plans to use the $4M funding to expand sales, marketing, and customer support, increasing its sales and support teams and adding jobs in Albuquerque, NM; Cincinnati, OH; and Southfield, MI. It is also expanding international distribution into multiple global markets, including offices in China and distribution partners in Japan, and intends to broaden its product line. Comet Solutions is an Albuquerque, NM-based provider of software for fast concept modeling early in the product design cycle. Its product is an integrated conceptual modeling and collaborative process automation workspace that lets engineering teams evaluate design concepts versus engineering requirements during early product definition and feasibility trade studies. The company closed a $2M Series B round led by Athenian Venture Partners, with participation from Tri-State Growth Capital Fund and Kentucky Co-Investment Partners. It also counts Series A investors including Flywheel Ventures, ITU Ventures and New Mexico Co-Investment Partners. The new capital will be used to expand sales, marketing and support activities for the product line. That product line was developed and improved through a $1.4M financing from the Innovation Ohio Loan Fund in June 2009.

Participated · Equity · Jan 2008

Ekahau develops Wi-Fi-based Real-Time Location Systems (RTLS) that enable enterprises to locate, track, and manage assets, inventory, staff, and visitors. Its patented technology provides visibility into the location, condition, and status of assets, people, and workflows to drive decision-making. Customers include Fortune 500 companies, hospitals and other large facilities. The company partners with wireless software developers, systems integrators and WLAN providers to deliver its solutions. Led by President and CEO Mark Norris, Ekahau is based in Framington, CT. It recently secured additional financing and intends to use the funds for working capital purposes. Ekahau develops Wi‑Fi based real‑time location systems that track cell phones, radio transmitters, Wi‑Fi‑enabled devices and the company’s own small, inexpensive Wi‑Fi tags. The tags can be attached to items such as medical equipment or forklifts, and the system is marketed to hospitals for patient tracking and to manufacturers for tracking products on production lines. Ekahau also positions its tracking as a security tool to follow valuable assets within businesses and government organizations. The company uses advanced triangulation methods developed at Helsinki University and says its positioning is accurate to within a meter. Founded in 2000 and based in Saratoga, Calif., Ekahau has landed projects including a 2006 deal with the U.S. Air Force and deployments tracking buses in Madrid, amusement-park visitors in Dubai, medical equipment in Belfast and hospital patients in Belgium. The company recently raised $6 million in a funding round from several international investors. Ekahau offers a WiFi-based real-time locater system (RTLS) that uses 802.11 Wi‑Fi location tags to provide room-level position information for assets and patients. Its RTLS product communicates over standard Wi‑Fi access points rather than requiring proprietary antenna infrastructures or extensive wired RFID readers. The company positions its Wi‑Fi tags as a cost-effective alternative to passive and active RFID for enterprise real-time tracking. Ekahau’s technology can locate tagged emergency equipment and the patients using that equipment in hospital environments. Competitors in the RTLS space include Aeroscout and Pango. Financially, Ekahau raised $16 million in financing, including a $12 million second round and $4 million in venture loans and government funding. New investors include several undisclosed parties, and founding investor Nexit Ventures participated in the round.