• HDmessaging

  Participated · Series A · Nov 2013

  HDmessaging provides white-label mobile messaging services to operators, offering group conversation, IP-based messaging, media sharing, cross-platform access, SMS compatibility and cloud storage. The company also offers MagicWords, a platform that augments messaging with contextual links and recommendations based on conversation content and user profiles. Led by CEO Jonathon Linner, HDmessaging counts operator partners including Vodafone, Airtel, Aircel, Singtel, Idea, T-Mobile and Maxis. The company has offices in Finland, the UK and India in addition to its Burlingame headquarters. HDmessaging closed a $3M funding round and intends to use the proceeds to invest in product development for its white-label messaging and MagicWords platforms and to expand internationally.

• OnDeck

  Participated · Debt Financing · Aug 2012

  OnDeck provides working capital and short-term loans to small businesses, using proprietary FICO-like credit models that evaluate business data such as revenue and repeat customers. The platform can make lending decisions within minutes and fund within a day. Average loan size is $40,000, with loans up to $250,000 and typical terms of 3–24 months. Tens of thousands of businesses across 725 industries have taken loans, and the company grew 150% in 2013. Financially, OnDeck has raised $180 million in equity and secured over $300 million in debt financing, and expects to have deployed $1 billion in capital to small businesses by mid-March. The company plans to use new funds to accelerate product development, geographic expansion, marketing and hiring, and is installing public-company discipline though an IPO is not the current focus. OnDeck operates a technology platform that aggregates data and uses electronic payment signals to evaluate the financial health and creditworthiness of small and medium-sized businesses and deliver capital to an underserved market. Launched in 2007 and led by CEO Noah Breslow, the company has deployed over $600 million in capital to tens of thousands of businesses across roughly 700 industries. OnDeck received funding commitments in the form of credit facilities totaling more than $130 million and intends to use the proceeds to deploy additional funding and develop new products. The platform focuses on faster, data-driven underwriting and distribution of loans to Main Street businesses. The company's current financial activity centers on expanding lending capacity via institutional credit backers. Launched in 2007, On Deck Capital offers short-term online loans to Main Street small businesses, using data aggregation and electronic payment technologies to evaluate creditworthiness. The company has deployed $400 million in loans and in 2012 secured $100 million in credit facility commitments from Goldman Sachs and Fortress Investment Group. It expanded distribution to 1,500 partners, grew to 160 employees, and saw revenue rise from $1.5M in 2008 to just under $20M in 2011 and $37M in 2012. Repeat customer base grew 34% in 2012. Management says the new funding will let On Deck provide more capital to small businesses in 2013 than in the previous five years combined and bring improved online lending tools to market. The company also ended acquisition discussions with Wonga (offers reportedly as high as $250M) and added IVP General Partner Sandy Miller to its board, which the CEO said could signal IPO ambitions. On Deck Capital provides simplified lending to small businesses using a proprietary platform that aggregates electronic data and ePayment information. The platform enables merchants to link online banking, accounting and payment processing while aggregating social, tax and industry data to create merchant profiles. On Deck’s software analyzes data points — customers, cash flow, sales and registered complaints — to assign a “Business Credit Score” focused on business performance rather than personal credit. The company has deployed $275M in capital to SMBs and expects to cross $300M early next month; loan originations have increased 50% in the last four months. To scale lending nationally, On Deck has been beefing up its capital reserves and expanding lending capacity. The product aims to give banks new principles to evaluate SMB credit potential and improve access to capital for millions of underserved small businesses. On Deck Capital matches small and medium-sized businesses with lenders by aggregating electronic data sources and using payment data to assess creditworthiness. The company developed an "On Deck Score" in partnership with Equifax to provide lenders a business-focused credit metric beyond owner personal credit scores. Its platform links online banking, accounting, merchant processing and aggregates social, tax and industry data to streamline underwriting for sub-$250K loans. On Deck has connected small businesses with over $125 million in capital at an average loan size of $30K and reported growth in customer acquisitions and loan applications in 2011. The startup says its recent funding will help it continue to bring disruptive technology to an underserved Main Street segment. Launched in 2006, the company has added senior sales and business-development executives and increased customer acquisition momentum to roughly 4,000 customers.

• On Deck

  Participated · Debt Financing · Aug 2012

  On Deck provides an online lending platform that leverages data aggregation and electronic payment data to evaluate small-business creditworthiness and streamline loan applications. Its infrastructure lets banks and lenders evaluate business performance data and pull business-level credit scores rather than relying on owners’ personal credit. The company reports applications that take about 15 minutes and says repeat customers increased 34% in 2012. On Deck has deployed over $450 million in loans and secured a $100 million credit facility from Goldman Sachs and others in 2012. The startup intends to use new capital to ramp hiring and accelerate product development to expand access to on-demand short-term capital for millions of small U.S. businesses. Founded in 2007, the company aims to power a large share of U.S. small business loans for firms with 25 employees or fewer. On Deck is a technology-powered lender that uses data aggregation and electronic payment technology to evaluate the financial health of small and medium-sized businesses. Its proprietary credit models assess overall business performance rather than owners' personal credit histories. The company has deployed $400M directly to thousands of small and medium-sized businesses. On Deck plans to use new capital for technology innovation, new product development, marketing to reach more small business owners, and to access wholesale funding sources. Launched in 2007 and led by CEO Noah Breslow, the company operates regional offices in Atlanta, Sarasota, Chicago and Los Angeles, with a New York City headquarters and a western region office planned for Denver in 2013. On Deck is a New York, NY–based main street lender launched in 2007. The company uses data aggregation and electronic payment technology to evaluate the financial health of small businesses and deliver capital efficiently. It targets main street businesses typically underserved by traditional bank loans. On Deck is led by CEO Noah Breslow and CFO Howard Katzenberg. The company is backed by venture firms including SAP Ventures, Contour Venture Partners, First Round Capital, Khosla Ventures, RRE Ventures and Village Ventures and is actively hiring. Proceeds from recent financing are intended to increase lending capacity and advance its working capital solution so customers can grow operations. On Deck is an evaluation and financing platform that connects small businesses with capital using data aggregation and electronic payment technology. Launched in 2006 and led by President Brad Kime, the company’s proprietary platform assesses overall business performance rather than the owner’s personal credit history to deliver capital for daily operations and long‑term goals. The company is based in New York and also operates offices in Arlington, Virginia. On Deck has raised a total of $19M in Series C funding after a $4M investment announced in June 2011. The new funding is intended to help expand the company’s sales and marketing initiatives. Previous investors include SAP Ventures, Contour Venture Partners, First Round Capital, Khosla Ventures, RRE Ventures and Village Ventures.

• NanoH2O

  Participated · Debt Financing · Apr 2012

  NanoH2O, based in El Segundo, Calif., designs, develops and manufactures thin-film nanocomposite reverse osmosis (RO) membranes for seawater desalination and other water-treatment applications. Its QuantumFlux membranes deliver higher flux and salt rejection, improved energy efficiency and are NSF Standard 61 certified for drinking water. QuantumFlux products are available in standard 8-inch elements that fit new and existing desalination plants and purify water from a broad range of sources. The company says its membranes lower the energy, operating and capital costs of desalination. Proceeds from the recent financing will be used to accelerate growth, expand manufacturing capabilities and broaden product offerings. Financially, the company has raised $75 million in total equity and, with the recent debt facilities, has secured over $100 million of total debt and equity financing. NanoH2O is an El Segundo, CA-based global provider of membranes for desalination and water reuse. The company develops high-flux reverse osmosis membranes intended to increase productivity and address fouling issues in commercial desalination. It received a $400,000 grant from the U.S. Office of Naval Research to evaluate its membranes for shipboard desalination systems. Tests at the U.S. Navy Seawater Desalination Test Facility in Port Hueneme will assess fouling resistance and optimize desalination systems for high-flux operations. The research will provide a benchmark comparing NanoH2O’s technology to existing RO membranes and help validate its novel approach. The company is backed by Khosla Ventures and Oak Investment Partners.

• Kala Pharmaceuticals

  Participated · Seed · Mar 2012

  Kala Pharmaceuticals is a clinical-stage pharmaceutical company focused on innovative nanoparticle-based treatments for ocular diseases using its proprietary mucus-penetrating particle (MPP) technology. Its lead product, KPI-121, is a nanoparticle formulation of loteprednol etabonate studied in multiple clinical trials for post-surgical ocular inflammation and pain and for dry eye/Meibomian gland disease. The company plans to complete Phase 3 trials for KPI-121 in cataract surgery and dry eye disease and, if successful, to file New Drug Applications in the U.S. in 2017. Proceeds from the recent financing will be used to advance the confirmatory Phase 3 trial for KPI-121 after cataract surgery, two parallel Phase 3 dry eye studies, and for general corporate purposes. Kala notes its MPP technology may have applications beyond ophthalmology, including women’s reproductive health, respiratory and gastrointestinal diseases. The company is backed by multiple life sciences investors and recently closed a $68 million Series C financing. Kala Pharmaceuticals develops topical ophthalmic products based on its proprietary Mucus Penetrating Particle (MPP) nanotechnology that enables therapeutic agents to pass through the eye’s mucus layer and penetrate deeper tissues, including the retina. The company’s clinical-stage product candidates aim to provide more convenient dosing and improved efficacy across indications such as dry eye disease and wet age-related macular degeneration. Kala’s lead programs include loteprednol etabonate MPP (LE-MPP) and a small-molecule receptor tyrosine kinase inhibitor formulated with MPP (RTKi-MPP). The company planned multiple clinical trials in 2014 to advance LE-MPP, including a Phase 3 post-operative inflammation and pain study after cataract surgery and Phase 2 trials in dry eye and inflammatory meibomian gland disease, plus an exploratory retinal study. Kala says its MPP technology may have applications beyond ophthalmology, including respiratory, women’s reproductive health and gastrointestinal diseases. The company is backed by life-sciences investors including Crown Venture Fund, Lux Capital, Polaris Partners, Third Rock Ventures and Ysios Capital. Kala Pharmaceuticals develops products that penetrate mucosal barriers using its Mucosal Penetrating Product (MPP) platform to treat diseases affecting the eyes, lungs, gastrointestinal tract, and female reproductive system. The company focuses internally on innovative ophthalmic treatments, emphasizing topical delivery that can reach the back of the eye and improve side effect profiles. Kala is advancing two lead programs targeting ocular inflammation and wet age-related macular degeneration toward clinical proof of concept. It also pursues collaborations to apply the MPP platform to respiratory, gastrointestinal, and female reproductive diseases and to transform the properties of marketed drugs. The company was founded by leaders in nanomedicine and biopharmaceutical engineering, including Dr. Justin Hanes, Dr. Robert Langer, and Dr. Colin Gardner. Kala secured $11.5 million in Series A equity financing to fund advancement of its ophthalmic portfolio and platform collaborations. Kala Pharmaceuticals is a Waltham, MA-based developer of treatments for diseases that affect mucosal tissues. It uses a proprietary mucus penetrating particle (MPP) technology platform to formulate active pharmaceutical ingredients so they can pass through human mucus secretions in organs including the respiratory tract, eye, cervicovaginal tract and gastrointestinal tract. The company was co-founded by Robert Langer, Colin Gardner and Justin Hanes. Kala intends to use the $6.2M in new equity financing to advance its internal product pipeline toward human clinical trials. Backers in the financing include existing investors Lux Capital, Polaris Venture Partners, Third Rock Ventures and Lighthouse Capital Partners. Kala has also been awarded grants from the National Heart, Lung, and Blood Institute and the National Eye Institute to support development of an improved inhaled cystic fibrosis treatment and better ocular drug formulations.

No current team members are available.